1. Etherum’s Weekly Summary

a. Annual Ethereum Community Conference (EthCC) Held in Paris link

The annual Ethereum community conference (EthCC) was held in Paris from July 17th to 20th, featuring keynote speakers such as Vitalik Buterin, the founder of Uniswap — Hayden Adams, StarkWare’s Product Manager — Avihu Levy, 1inch co-founder — Anton Bukov, Offchain Labs scientist — Akaki Mamageishvili, and Aliu Musa, responsible for the Celo Foundation’s African ecosystem.

Vitalik’s EthCC speech emphasized the elegance of account abstraction, as it does not require changes to the underlying protocol like previous upgrades. Account abstraction essentially allows users to define the security model of their accounts, making Ethereum more adaptable to different use cases. This feature enables users to set their own transaction validation rules, such as multi-signature requirements or spending limits, and also makes their accounts compatible with future cryptographic algorithms. His vision is that in the future, people will transition from current Externally Owned Accounts (EOA) wallets to smart contract-based wallets. If successful, managing crypto wallets will become as simple as managing email accounts.

b. Highlights from Ethereum Foundation’s 10th AMA link

Key Points Overview: Is the threshold of 16 ETH for validator ejections too low? The challenge of random number generation: RANDAO + VDF. Are SSV (Threshold Signature Validator) and DVT (Distributed Validator Technology) essential for Ethereum? What is the current progress of Single Secret Leader Election? Are there any updates to Ethereum’s technical roadmap? Can EIP-4844 solve the liquidity fragmentation issue between L1 and L2s? Concerns about the centralization risk of block producers? Will the Ethereum Foundation dissolve? What is the ultimate goal of the Foundation? Is there a mature technical solution for cross-rollup transaction execution?

c. Summary of the 166th Ethereum All Core Developers Meeting (ACDE) link

On July 21st, according to the summary by @TimBeiko on the 166th Ethereum Execution Layer Core Developer Meeting (ACDE), the main topics discussed were as follows: The progress of Dencun devnets (devnet-7 is still running, and relevant tool support, such as blob explorer, is in place; the client teams will gradually shift their focus to devnet-8); Discussion of some edge cases related to EIP-6780 (the primary purpose of EIP-6780 is to deactivate the opcode SELFDESTRUCT); Some API modifications (addition of the eth_getBlockReceipts endpoint, removal of mining-related endpoints); Separation of EIPs and ERCs in the Github code repository.

2. zkSync Launches Experimental NFT and New Boojum Proof System

a. Experimental NFT Project: LIBERTAS OMNIBUS link

On July 15th, zkSync announced the launch of an experimental NFT project called “LIBERTAS OMNIBUS.” The project aims to explore new NFT standards, network capabilities, innovative protocol features, and a collection of prototypes for creators. As part of the initiative, zkSync plans to randomly select 10,000 active community members from the 179,365 members since the mainnet launch and reward them with NFTs. The NFTs have already been sent to the user addresses.

b. New Boojum Proof System link

On July 17th, zkSync announced the launch of its new Boojum proof system. This upgrade will transition zkSync Era to a STARK-powered proof system, significantly reducing transaction times and lowering the hardware requirements to achieve full decentralization. Boojum is now live on the mainnet and utilizes real production data to generate and validate “shadow proofs.” This advancement marks a major step towards achieving a more efficient and decentralized ecosystem for zkSync.

3. ConsenSys-built L2 network Linea Announces Mainnet Alpha Launch link

On July 18th, during EthCC event, Linea, an L2 network built by ConsenSys, announced the launch of its mainnet Alpha for the community. Developers can now access the mainnet Alpha through the official Rollup, ETH Bridge UI, and Infura or Meatmask RPC endpoints. The bridge that supports the ERC-20 Token standard will be launched in the coming weeks. As of July 22nd, on-chain data shows that the Linea mainnet has processed approximately 430,000 transactions, and the official cross-chain bridge has received 7,789 ETH, valued at around 14.79 million USD.

4. Mantle Network, Supported by Bybit, Officially Launches Mainnet link

On July 17th, after six months of testnet development, Mantle Network, supported by Bybit, officially launched its mainnet at the EthCC event in Paris. Mantle Network is characterized by its modular approach to Ethereum Layer 2 (L2) solutions, allowing for easy and rapid upgrades by replacing modular components. It comes with a $200 million ecosystem fund, and its native token, MNT, will serve as the unified product and governance token. EigenLayer is the first L2 partner of Mantle.

Notably, on July 16th, the “MIP-24: Mantle Ecosystem Fund” proposal by BitDAO was approved through a community vote. As per the resolution, the community authorized Mantle Treasury to establish a $100 million Mantle Ecosystem Fund, set up a Mantle Ecosystem Fund Investment Committee, and receive an initial funding of 10 million USDC from Mantle Treasury.

5. cLabs Proposes Transitioning Celo from EVM-compatible L1 to Ethereum L2 link

On July 16th, according to the Celo governance forum, cLabs proposed a transition of Celo from an independent EVM-compatible Layer 1 (L1) to Ethereum Layer 2 (L2) in order to reintegrate into the Ethereum ecosystem. After extensive research and discussions among the cLabs team, core Celo, and Ethereum community members, it was decided that Celo will adopt the OP Stack as the Ethereum L2 architecture. Key distinctions include the use of a decentralized sequencer supported by existing Celo validators, allowing for Byzantine fault-tolerant consensus. The off-chain data availability layer will be supported by EigenLayer and EigenDA, operated by Ethereum node operators and protected by restaked ETH. The design of 1-block confirmation will be retained.

Currently, cLabs plans to hold a governance call on July 21st to listen to community feedback regarding Celo’s transition to L2. Celo had previously completed a $20 million funding round led by a16z in February 2020, as well as a $10 million token sale in May 2020.

6. Uniswap Unveils Cross AMM Protocol UniswapX link

On July 17th, Uniswap made an announcement introducing UniswapX, a protocol that operates without permission, is open-source, and utilizes Dutch auction mechanisms. UniswapX is designed for trading across Automated Market Makers (AMMs) and other liquidity sources. In the future, UniswapX aims to gradually achieve several enhancements, such as obtaining better prices through the aggregation of liquidity sources, enabling gasless transactions, mitigating the impact of Miner Extractable Value (MEV), eliminating transaction fees for failed trades, and eventually implementing gasless cross-chain transactions within the coming months.

7. Lens Protocol Announces Release of V2 Version link

On July 17th, Lens Protocol made an announcement about the launch of its V2 version, which enables the integration of external web3 products and the activation of external smart contract operations, seamlessly incorporating them into the Lens application to create a composable social network. This functionality even extends to cross-chain operations with the support of oracles, such as those involving Ethereum and Layer 2 (L2) solutions. Furthermore, V2 showcases its powerful composable nature by providing support for configuration files and ERC-6551.

8. Gnosis Introduces Gnosis Pay and Self-Custodial Debit Card Gnosis Card link

On July 17th, Gnosis made an announcement regarding the launch of Gnosis Pay and the introduction of their self-custodial debit card called Gnosis Card. This innovative development allows cryptocurrency users to utilize stablecoins for their daily purchases through the Visa network. Notably, this marks the first decentralized payment network integrated with traditional payment processors, as well as the first Visa-certified consumer debit card directly connected to an on-chain self-custodial wallet.

One of the key partners supporting Gnosis Card is Monerium, a regulated stablecoin provider. Their regulated stablecoin, EURe, can now be used in conjunction with Gnosis Safe’s web3 accounts, enabling developers to link web3 wallets to Euro bank accounts through the Safe toolkit. This integration enhances the usability and accessibility of cryptocurrency in everyday transactions.

9. Worldcoin Completes Migration of OP Mainnet and Initiates User Migration link

On July 21st, Worldcoin made an announcement regarding the successful migration of their OP mainnet and commenced the process of user migration. In order to support World ID, the Worldcoin protocol has been migrated to Ethereum, and bridges have been established between Optimism and Polygon PoS.

Additionally, a majority of Safe wallets have been deployed on the OP mainnet. As part of the progress, the World App is now supporting Uniswap exchange on the OP mainnet, further enhancing its capabilities and interoperability within the Ethereum ecosystem.

10. UniSat Launches Ordinals Native Swap Platform brc20-swap link

On July 16th, UniSat Wallet announced the launch of the first native Swap platform called brc20-swap. This is the first Swap platform operating on the Bitcoin mainnet, utilizing the brc20 protocol as its underlying asset infrastructure for Ordinals native Swap. Any individual can deploy a new trading pair and contribute liquidity to the Swap.

The design of brc20-swap ensures technical compatibility with existing brc20 variants. UniSat will provide the source code, API, and documentation to assist developers in building their own Swap platforms on top of this infrastructure.

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