Vitalik Buterin:How Will Ethereum’s Multi-Client Philosophy Interact With ZK-EVMs?
Ethereum founder Vitalik Buterin has suggested deploying Zero-knowledge Ethereum Virtual Machines (zk-EVMs) on Ethereum's mainnet to speed up verification without compromising security or decentralization.
Vitalik Buterin Encourages Deployment of zk-EVMs on Ethereum Mainnet for Improved Scalability
Ethereum creator Vitalik Buterin has encouraged the deployment of Zero-knowledge Ethereum Virtual Machines (zk-EVMs) on the Ethereum mainnet, stating that they would speed up verification without affecting the network's security or decentralization.
Cardano's Unique Staking Wallets Surpasses Ethereum, Founder Praises Network's Staking Protocol
Cardano has surpassed Ethereum in the number of unique staking wallets, with 1.23 million addresses staking on the Cardano Network compared to 88,400 on Ethereum.
Crypto Evening Briefing: Ethereum MEV Bot Gets Attacked for $20M
A major Ethereum MEV (maximal extractable value) bot has been targeted in an attack, resulting in the loss of almost $20 million.
PancakeSwap DEX Launches Version 3 on BNB Chain and Ethereum
PancakeSwap, a decentralized exchange (DEX) with over 1.5 million unique users, has launched Version 3 (V3) on Ethereum and BNB Chain. V3 offers the cheapest fees for on-chain trades among SushiSwap and Uniswap and has increased returns for liquidity providers. The platform introduces features that enhance the platform's capital efficiency, including allowing liquidity providers to concentrate their capital on smaller price ranges, resulting in higher fee earnings. V3 introduces four different trading fee tiers and a VIP trading rewards program and a position manager feature are currently in development. PancakeSwap V3 is also compatible with all tools built for Uniswap version 3. PancakeSwap had over $2.5 billion in total value locked (TVL) as of Monday.
Ethereum Deposit Contract Holdings Exceed 18 Million ETH
ETH was deposited to the ETH 2 deposit contract — the current ETH balance has now surpassed 18 million ETH. The new value staked on March 31 hit 55,456 ETH — the highest amount one day in March. Additionally, the total amount of ETH transferred to the ETH 2 deposit contract via staking provides has surpassed 12 million ETH. Staking provider Lido has roughly 5.6 million ETH — while Coinbase, Kraken, and Binance hold on an aggregate of over 4 million ETH in the deposit contract.
Ethereum MEV Bot Gets Attacked for $20M as Validator Strikes Back
A major Ethereum MEV (maximal extractable value) bot has been targeted in an attack, resulting in the loss of almost $20 million. The attack took place within one Ethereum block, with a validator forcing a series of transactions to steal funds the bot had planned to gain by front-running. MEV flashbots use "sandwich attacks" to steal value from users by manipulating the underlying price of the asset. The validator responsible for the attack had funded their wallet from privacy layer Aztec Network more than two weeks ago, suggesting it was a planned attack. The stolen funds are currently held in three wallets, with eight linked addresses originally funded from Kucoin. The attack has the potential to transform the MEV ecosystem, according to former Ethereum Foundation member Hudson Jameson.
Ethereum, 200 Days After the Merge: $4 Billion in Ether Not Added to Supply
Since Ethereum's switch to proof of stake, the total supply of ether has decreased by 75,000 ($134.5 million), representing an annual decrease of 0.114%. This is due to the reduction in rewards given to those running the network and the burning mechanism that burns a portion of fees generated through transactions. The temporary inability to unstake staked ether will become available shortly when Ethereum's Shanghai upgrade is implemented on April 12. However, technical on-chain limitations mean that only 16 partial withdrawal requests can be processed every approximately 12 seconds, potentially causing lengthy wait times for withdrawals. Full withdrawals may also take a relatively long time.
Buterin Weighs In on Zk-EVMs Impact on Decentralization and Security
Ethereum co-founder Vitalik Buterin has proposed that zero-knowledge Ethereum Virtual Machines (zk-EVMs) be built on Ethereum's first layer to speed up the verification process on the base blockchain. In a blog post, Buterin explained that it is possible to integrate a zk-EVM on the base layer without compromising on decentralization and security. The technology allows Ethereum Virtual Machines to execute smart contracts on the blockchain with ZK proofs. Buterin said zk-EVMs may be the solution to "The Verge," a part of the Ethereum roadmap that aims to make verification at the base layer easier. If the zk-EVM ecosystem is implemented, it would make running a full node on Ethereum even easier.