Cross-chain is a technological dead-end. Either the future is mostly secured on Ethereum with rollups, or multi-chain.
A (long, but worthwhile) π§΅π
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ok. i have to admit something. i wanna be honest
i believed eth was gonna go to 10k this cycle
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EIP-4844 would effectively reduce rollup fees by up to 100x- even before danksharding.
Let's explore how it works under the hood 𧡠π
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Base is Ethereum
Scroll is Ethereum
zkSync is Ethereum
Optimism is Ethereum
Arbitrum is Ethereum
Polygon zkEVM is Ethereum
Starknet is Ethereum
Linea is Ethereum
Mode is Ethereum
Zora is Ethereum
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Layer 3 is a paradigm shift in blockchain scaling. Here's what you need to know:
𧡠π
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I'm joining @Scroll_ZKP to do expository research! Incredibly excited to be part of a team pushing the space forward and making Ethereum more accessible.
In addition to my normal content, I'll be posting regular threads, articles, and occasional alpha π
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steal a manβs wallet and heβll be poor for a day
but teach him how to trade memecoins and heβll be poor for the rest of his life
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Introducing my first full length article: zkSNARKs vs zkSTARKs.
mirror.xyz/pseudotheos.eth/_β¦
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Today was my final day at @Scroll_ZKP.
β
Over the past (almost) two years, I had an incredible time growing Scroll from a small research-focused testnet into one of the largest L2s on Ethereum.
β
Stepping down was not an easy decision. I remain an advisor, but it's time to grow elsewhere.
β
What's next:
β
1. [redacted]
2. Advising protocols on strategy, narrative, and growth
3. Angel investing in the best teams in crypto
β
I strive to be one of the most accessible anons in crypto. If you want to collaborate, think I can help, or simply want to say hi, reach out!
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How to make a $22.7B protocol in 2022:
1) fork geth
2) crank up throughput
3) attach blockchains to the main blockchain while exclaiming that L2s are too complex
4) advertise in subway stations
5) say you solved the scalability trilemma
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Excited to announce that I've joined @symbioticfi to lead strategy!
β
I've always been a massive proponent of decentralization, and working at an L2 for a few years has shown me the difficulties of decentralizing a network firsthand.
β
Symbiotic is actively lowering the bar to decentralization through a modular shared security framework. Networks retain full sovereignty and flexibility and, most importantly, can decentralize faster without tradeoffs.
β
If you're a network, researcher, builder, or simply interested in learning more, reach out!
β
βοΈ
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ZK proofs in a blockchain context are the most significant step forward since smart contracts.
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The multichain thesis is dead.
The future will be built on execution layers that interface with a consensus layer.
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everyone in crypto builds infrastructure because they are afraid of talking to people to find actual use cases
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all these zk terms... what do they mean? what's the big deal with zk proofs?
a quick π§΅breaking it down: π
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The Merge will:
Drop Ethereum's energy usage by ~99.95%
Drop Ethereum's issuance from ~5.4M ETH/yr to ~0.5M ETH/yr
Provide ~5-15% APR on staked ETH (as TX fees will go to stakers)
The Merge will not lower transaction fees. L2s and EIP-4844 will take care of that.
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testing the network = contributing
meme creation = contributing
writing code = contributing
deploying projects = contributing
writing blogs = contributing
publishing research = contributing
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recently some airdrop hunting accounts shared the scroll github repos with a βfarming guideβ.
please donβt submit a GitHub issue just for farming purposes.
overnight, we have received 600+ low quality submissions that we have to divert resources to parse through.
the scroll core team is stretched thin enough as it is, please donβt make our lives harder β€οΈ
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Ethereum's EVM has won the war of the smart-contract platforms, and it's not even close. So how do we scale the EVM for the next billion users?
Here's all you need to know about the zkEVM thesis:
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"Even a billion dollars of capital cannot compete with a project having a soul." - @VitalikButerin
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worth reminding that removing the license is literally one of the only things that you are not allowed to do with MIT
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Introducing a new series of articles exploring the ZK frontier.
Read the first installment covering zkSync and the zkEVM here π
mirror.xyz/pseudotheos.eth/Jβ¦
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Let's start 2022 off with the basics and dive into the Ethereum Virtual Machine (EVM), the current smart contract standard, and how it works. We'll also discuss how L2s open the door to a supercharged EVM!
π§΅π
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the easiest way to contribute to scroll as a non-dev is bridging over and joining the ecosystem
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"ZK Rollup" has become a fairly broad category over time.
Here's how I categorize them:
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bitcoin's 21m cap is a ticking time bomb
fees will not meaningfully cover the security budget required to secure the network
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"Ethereum was premined"
"Ethereum can't scale"
"Ethereum won't ever switch to PoS"
"Ethereum won't ever fix OFAC censorship"
"L2s are actually a centralized scam" <- we are here
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scroll mainnet soon
everything should work out of the box:
debuggers
fuzzers
you can even use vyper
all you need to do is change your RPC π
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Ethereum becoming the base layer for 80%+ of execution environments is inevitable in the next 5 years, barring a black swan event.
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If we stop prioritizing core values (decentralization, security, ownership) and continue prioritizing short-term rotation plays, hype waves, and cash grabs, the point of all of this is lost.
We have a small window of opportunity to steer the ship. Let's not squander it.
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Cross-chain bridges have been around for less than two years but have already been exploited for over $1.57B.
Applying ZK tech to bridges can fix a lot of the issues. 𧡠π
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There's a lot on the Ethereum roadmap, and it can be a bit technical. I've covered some already, but I'm going over every piece of tech with quick explanatory threads throughout the coming weeks. Stick around!
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To date, "blockchain games" have mostly been hyperfinancialized shovelware, but not for much longer.
Zero-knowledge proofs are the first step to making blockchain games a unique experience:
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all L2s are unique
Arbitrum is powerful
Optimism has good vibes
Scroll has ZK
Blast
Starknet has culture
Aztec has privacy
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aztec is shutting down their rollup.
it's open source, so please fork it.
medium.com/aztec-protocol/suβ¦
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crypto has matured so much that now we ask where 23% yield comes from before aping in anyway
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The L1 wars are ending. Instead, the competition will race up the stack towards the application layer. Layer 2s, ZK tech, and middleware are where the next battleground lies.
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99% of the world doesn't care how Linux works, but it powers everything on the internet.
Ethereum will be the same, but for finance.
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in case anyone wonders why it takes time to properly and securely decentralize a rollup, this recent diagram from @arbitrum shows why
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It needs to be appreciated more that a network securing $800B of assets experiences zero issues and zero downtime when upgrading.
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I just read through the Terra whitepaper again. Forgive me if I'm getting this wrong, but whenever UST is trading below peg, Luna is actually incentivized to asymptotically trend towards 0?
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I am not an Ethereum maximalist by any means. Ethereum is currently the protocol that follows blockchain core values the most.
If Ethereum stops adhering to these core values, I will welcome another protocol to pick up the torch.
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bridging to and from @Scroll_ZKP doesn't have to be expensive
L2<->L2
orbiter.finance: $0.34
rhino.fi: $0.54
owlto.finance: $0.29
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"Even a billion dollars of capital cannot compete with a project having a soul." - @VitalikButerin
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You've heard of EIP-1559, but what if it was applied to more than just gas? Enter Multidimensional EIP-1559, a proposal from @VitalikButerin.
Let's break it down in a 𧡠π
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some @MessariCrypto alternatives:
@Delphi_Digital (shilled LUNA, but still better than Messari)
@nansen_ai
@coinmetrics
missing a bunch, feel free to tag more
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I'm joining @variantfund. Read the "why" here: variant.fund/writing/pseudotβ¦
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Saying Solidity will remain the default smart contract language is like saying COBOL will remain the default programming language 50 years ago.
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itβs been a rough week for me.
call your family and tell them that you appreciate them, especially if itβs been a while or youβre far away from home.
you only have a limited amount of time with them. recognize this and cherish it
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There's a revised Ethereum roadmap by @VitalikButerin!
Here's a list of resources if you'd like to dive deeper than an infographic:
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