Blockchain Weekly Digest — May 13th, 2024
Multidimensional Gas Pricing, Addressing Ethereum’s Growing History, CHIPs Signaling Phase: Babylon x Cosmos Hub (Security Aggregation), Discussing CosmWasm Guidelines for the Hub, Weekly Cardano Development Update, and Intersect Weekly Development Update.
The Blockchain Weekly Digest covers diverse topics including Ethereum’s adoption of multidimensional gas pricing to optimize resource allocation, addressing Ethereum’s growing history and proposing solutions like EIP-4444, CHIPs Signaling Phase for Cosmos Hub, discussing CosmWasm guidelines emphasizing suitable use cases, the Weekly Cardano Development Update showcasing progress in core technology, networking, smart contracts, scaling, and education, and Intersect’s Weekly Development Update highlighting the DRep Pioneer Program, proposed Plutus changes, and various community initiatives, with a focus on Cardano’s development and upcoming events. Navigate through the quiet, yet captivating waters of the crypto world in this weekly roundup. Keep reading for a detailed exploration of each update.
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Ethereum
Multidimensional Gas Pricing
Multidimensional gas pricing introduces a paradigm shift in Ethereum’s gas system, aiming to address inefficiencies and optimize resource allocation. By separating computation, storage, and other operations into distinct dimensions, this approach offers more granular control over pricing and limits, potentially improving scalability and user experience. Implementations like Blobs and proposals such as multidimensional EIP-1559 showcase efforts to refine gas pricing mechanisms. While challenges like sub-call gas limits and compatibility concerns persist, ongoing innovation and evaluation promise a brighter future for Ethereum’s gas market dynamics.
Check it out the blog post 👉 here.
Addressing Ethereum’s Growing History
The article delves into the critical issue of history growth in Ethereum, outlining its implications and potential solutions. With history growth outpacing state growth by 6x — 8x and reaching 36.0 GiB/month, the network faces challenges in maintaining consensus stability. The introduction of blobs during the Dencun hard fork significantly reduced history growth from rollups, but long-term effects remain uncertain. Proposals like EIP-4444 advocate for storing only one year of history to alleviate storage burdens, with interim solutions like EIP-7623 and EIP-4488 aiming to mitigate growth rates. Collaboration and expedited implementation of these solutions are urged to ensure Ethereum’s scalability and sustainability amid increasing history storage demands.
Check it out the blog post 👉 here.
Cosmos
CHIPs Signaling Phase: Babylon x Cosmos Hub (Security Aggregation)
The CHIPs signaling phase introduces a security aggregation proposal for the Cosmos Hub and its consumer chains, leveraging Babylon’s CometBFT extension. This proposal integrates Bitcoin staking with the Cosmos Hub, allowing Bitcoin stakers to delegate to Hub validators for rewards while allocating the security budget between ATOM and Bitcoin on consumer chains. Technical specifications include Babylon’s Bitcoin Script for staking, the Slinky oracle framework for monitoring Bitcoin’s state, and Cosmos SDK modules for power mixing and reward distribution. This initiative aims to enhance the security of the Cosmos Hub and its chains, opening avenues for Bitcoin L2s on Cosmos Hub and future integration with other ecosystems like Eigenlayer.
Check it out the forum 👉 here.
Discussing CosmWasm Guidelines for the Hub
Informal Systems intends to integrate CosmWasm into the Cosmos Hub in the v18 release, independent of guidelines approval. Proposed guidelines aim to distinguish suitable and unsuitable use cases for CosmWasm on the Hub, discouraging activities such as transforming it into an “app store” or hosting general-purpose CW contracts like DeFi. Preferred scenarios involve programming core logic to enhance the Hub’s functionality without competing with other chains, such as integrating a DAO for governance or an IBC client for Rust-based blockchains. Discussions underscore the importance of prioritizing infrastructure over applications that rival ICS chains. Collaboration between Neutron and the Hub is proposed as an alternative to enforceable guidelines, focusing on mutual trust and cooperation. The primary focus remains on efficiently implementing the roadmap to align with the Hub’s development objectives.
Check it out the forum 👉 here.
Cardano
Weekly Cardano Development Update
The weekly development report showcases significant progress across various domains. Core technology improvements include benchmark analysis, tracing data, and enhanced error reporting. Networking enhancements involve peer-sharing restructuring and resolving bootstrap peer issues. Smart contracts saw optimizations in the fixed point operator implementation. Scaling efforts included network protocol refactoring and workflow adjustments. Updates in Voltaire & Sanchonet encompassed feature finalizations and CI setup enhancements. Catalyst initiatives continue with ongoing Fund12 submissions, while educational endeavors include onboarding for the DRep Pioneer Program and further lessons in the Haskell Bootcamp, reflecting the continuous advancement within the Cardano ecosystem.
Check it out the blog post 👉 here.
Intersect Weekly Development Update
The Intersect Development Update #13 covers several key areas of progress. The DRep Pioneer Program welcomed 15 applicants, with onboarding initiated for workshop leaders. Proposed Plutus changes, including CIP-69, are under evaluation by the hard fork working group. The report emphasizes Intersect’s role in Cardano’s development and announces the completion of the Continuity Milestone Report for April. Updates include grant application evaluations, community tooling advancements, discussions on expanding Community Hubs, and progress on governance tooling development. Important member resources and upcoming events like Consensus 2024 and the Intersect Town Hall are highlighted, with a call for community feedback and engagement.
Check it out the blog post 👉 here.
Thank you for reading.
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