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Ethereum Seven Day Talk: Eth2, Consolidation, EIP-1559, Layer2



Altair Upgrade Progress

According to Ben Edgington's record of the latest PoS implementers meeting, the Alpha 6 version of the Altair upgrade specification has been released, and the content-zce is basically confirmed, and it is planned to determine the specification content-zce and set the fork date after the demonstration of interoperability. The goal is to launch a short-term test network and finalize the specifications in the first half of June. It is hoped that the test network will be forked in July.


Additionally, Vitalik released an annotated version of the Altair specification - "Ethereum 2.0 Altair Beacon chain changes".


The testnet on the Rayonism project has been closed, and now it is necessary to rebase to the product code on the client side to separate the API. There is still research work on the transition process and state synchronization, which can be done when the client team is upgrading London and Altair, and there will be a larger test network for related testing in the future.

Non-custodial lending agreement Silo Finance announced the launch of the Ethereum mainnet: On August 11, the non-custodial lending agreement Silo Finance announced that it is deploying contracts to the Ethereum mainnet. In addition, its community has released a voting proposal, proposing that the protocol support BAL, wstETH, APE, CVX, FXS, CRV, FRAX, sETH2, WBTC and USDC assets for the first time. [2022/8/11 12:18:38]

Meanwhile, development work continues on sharding and withdrawals.

The block explorer of the London upgrade testnet Baikal can now display complete 1559 transaction data and block information (see the figure below). Among them, "Transaction Type: 2" indicates that this is a native 1559 transaction. "Gas Price: NAN" indicates that this transaction does not use the gas price, which means that this should be a 1559-style transaction. Because, "MaxPriorityFee/Gas" is used in the 1559-style transaction, which is the miner's tip, and "MaxFee/Gas" is also the Fee Cap (the highest fee). Both of these are set. Everything else is standard transaction information.

Ethereum network gas fee has dropped to 4gwei: According to news on July 24, according to Etherscan data, the current Ethereum network gas fee has dropped to 4gwei. [2022/7/24 2:34:20]

Someone asked why the "Base Fee" is 7, and Tim Beiko replied, "That is 7 wei, which is 0.000000007 gwei. This is actually a number close to 0. This is because in integer calculations, setting the Base Fee lower than this number will cause Make the calculation impossible. On the main network, the base fee of the first block after the fork is 1 gwei, and then as the block capacity reaches 15m, the Base Fee will increase to its market price. Therefore, the first Blocks will likely be full, and miners will need to pay a large transaction fee, and then slowly start paying transaction fees with base fees."

"1559 Wallet Interface Conference" (London Infrastructure Preparation Series) is scheduled for 21:00 on May 26, Beijing time, and the duration is 1 hour.

The Ethereum expansion program SKALE completed the mainnet upgrade and became a multi-chain network: On April 24th, the Ethereum expansion program SKALENetwork announced the completion of the mainnet upgrade code-named Denali. This is the first major upgrade after the mainnet launch. This makes the SKALE network a multi-chain network that works together through native integration with Ethereum.

SKALE's Ethereum native multi-chain architecture provides new tools that are fast, gas-free, and learning-free for users. SKALE said that 46 validators and 153 nodes have completed the upgrade. [2021/4/24 20:54:16]

The meeting agenda includes:

Discussion of Modifications to JSON RPC Documents

Recommended minimum for PriorityFee

Wallet providers need to communicate these modifications to their respective users

Requires ERC editor

@trent_vanepps published "1559 Reference Manual for Wallets and Users (Cheatsheet: 1559 for Wallets & Users)", which includes:

Galaxy Digital’s Ethereum Fund Has Raised $32 Million: March 6 News Galaxy Digital’s institutional-grade ether (ETH) fund has raised $32 million since its inception in February, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Friday. raised more than $32 million. (coindesk) [2021/3/6 18:20:21]

1559 variables and their functions

Legacy transaction support

Test integration on Baikal testnet

Initiation process for the London upgrade

Simulation resources

The EF JavaScript Team tweeted on May 20th that if there are no bugs or specification changes in the end, they will release the EthereumJS block, transaction, virtual machine and common library for the EIP-1559/London upgrade this week.

Etherscan Launches Optimism's Block Explorer

The Ethereum L2 solution Optimism announced on May 21 that it has integrated the Ethereum browser Etherscan and launched Optimism’s block explorer:, its users can:

News | Bitfinex will suspend the deposit and withdrawal of ETH and ERC20 tokens before the upgrade of Ethereum Istanbul: According to the official announcement, Bitfinex will suspend the deposit and withdrawal of ETH and ERC20 tokens a few hours before the upgrade of Ethereum Istanbul. Affected. [2019/12/6]

Monitor deposits and withdrawals

Complete withdrawals on L1 (coming soon!)

See when L2 transactions are pre-confirmed by the orderer and when they are batched and finalized on L1

Verify and publish the source code of the OVM compiled contract


Sorare will be listed on StarkEx in July

StarkWare, the Ethereum expansion solution provider team, tweeted that Sorare, the fastest growing sports NFT trading platform on Ethereum, will be launched on StarkEx in July.


Loopring Launches IWO, First Wallet Offering

L2 expansion solution Loopring launched the IWO (Initial Wallet Offering) mechanism. All Loopring wallet users can now participate in new project ICOs directly on the Ethereum Layer 2 network.


Vitalik wrote that Musk's earlier Dogecoin expansion statement was fundamentally wrong

On May 23, Vitalik published an article "The Limits to Blockchain Scalability (Blockchain Scalability Limits)", which was published by Musk on May 15. Expand the block capacity by 10 times, reduce transaction fees by 100 times, and win easily" tweeted a long response, and emphasized that there is a trade-off between decentralization and expansion in the architecture of the blockchain network. To achieve decentralization, it is very important for ordinary users to run nodes, but ordinary users will have limitations in computing power, bandwidth, and storage when running full nodes.

At present, Ethereum encounters a bottleneck in storage capacity. He believes that the stateless and state validity scheme can solve this problem, and the sharded blockchain can further achieve expansion.


Consensus by CoinDesk 2021

Consensus by CoinDesk, the largest blockchain event held by CoinDesk, will be held from May 24th to 27th. The conference aims to bring together professionals from around the world to discuss the development of cryptocurrency and blockchain technology in depth. There are two series of Ethereum-themed activities, arranged as follows:

Series 1: Execution Layer of Ethereum (Eth1.0)

Beijing time: 21:30—22:30, May 25

Topic: The Future of Ethereum: Roadmap Updates & Improvement Proposals

Speakers: Tim Beiko, Pooja Ranjan

Topic: Scaling DeFi—ENS at Layer 2—Optimistic rollup (MVP)

Speaker: Nick Johnson

Series Two: Consensus Layer

Beijing time: 00:00—01:00 am, May 26

Topic: The State of Eth2 and Consolidation

Speakers: Danny Ryan and Mikhail K

Subject: KZG Commitment

Speaker: Dankrad Feist



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Ethereum Seven Day Talk: Eth2, Consolidation, EIP-1559, Layer2

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