Smart Contracts

Enhancing DApp Development with Arbitrum Stylus

Wednesday. September 4 at 1:00 AM

1 min. read

Offchain Labs, the original developer of Arbitrum blockchain and Stylus, has launched Arbitrum Stylus mainnet, a backward-compatible virtual machine aimed at simplifying decentralized app (DApp) development for Web3. Stylus enables developers of varying coding skills to create on Arbitrum using familiar WebAssembly (WASM)-compatible languages, fostering the creation of powerful Web3 applications with low gas fees. Ed Felten, co-founder of Offchain Labs, highlighted how Stylus merges EVM and traditional programming languages like Rust, C, and C++, offering multi-language support to encourage developers to leverage the most suitable tools. Stylus programs have shown superior performance compared to EVM-based programs, enabling more transactions within the gas limit and reducing costs. Offchain Labs plans to integrate protocols like ZK-proofs into Arbitrum to enhance efficiency and reduce costs, paving the way for advanced DeFi applications in the future.

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Evolution of Cypherpunk Values in Smart Contract Platforms

Monday. September 30 at 3:00 PM

Jesse Walden, managing partner of Variant Fund, predicts that the original cypherpunk values driving smart contract platforms will diminish in the next decade due to institutional adoption. The first decade of blockchain development was influenced by ideals like censorship resistance and permissionlessness. However, current smart contract platforms prioritize performance, cost, and legal compliance. Popular use cases such as stablecoins and tokenization no longer require full decentralization. While the cypherpunk movement originated in response to internet limitations, the evolution of blockchain technology is shifting towards commercialization. Walden acknowledges the necessary compromises for mainstream adoption, likening it to the music industry. He believes that a balance between principles and mass appeal is crucial for cultural advancement. Despite the changes, Walden sees potential for impactful innovation in the crypto space.

Smart Contracts

Enhancing Ethereum's Blob Count for Network Scaling

Saturday. September 28 at 1:30 PM

Ethereum's co-founder, Vitalik Buterin, aims to boost the network's scalability by increasing the 'blob count' introduced in the Dencun upgrade. Currently at 75% capacity, Buterin suggests implementing Ethereum Improvement Proposal (EIP)-7623 to raise the blob count. Blob space, a storage area from EIP-4844, aids in network scalability by storing large data temporarily, benefiting layer-2 rollups. The blob count determines the number of blobs per Ethereum block, with a proposed increase from three to four blobs per block. This adjustment could enhance data storage capacity, particularly for L2 networks. EIP-7623 also suggests altering transaction data costs to optimize data availability. Buterin stresses the importance of transitioning L2s to blobs despite market congestion concerns. The upcoming Prague upgrade will focus on network improvements, including scalability enhancements and validator staking limits. Splitting the upgrade into PectraA and PectraB segments is proposed for faster deployment.

Smart Contracts

Crypto Protocol Offers Hacker Job After $2M Theft

Saturday. September 28 at 12:00 PM

Crypto protocol Bedrock extended a job offer to a hacker who stole $2 million from its uniBTC vaults. Tornado Cash developer Roman Storm will face trial in December after a failed attempt to dismiss the case. Bitcoin surged to a two-month high. Bedrock lost $2 million due to a security breach but chose to reward the hacker with a white hat role. Dedaub discovered a vulnerability in Bedrock's uniBTC vaults that could have led to a $75 million theft. Despite no response from the hacker, Bedrock assured the safety of remaining funds and pledged to resume staking once the issue was resolved. Storm, co-founder of Tornado Cash, faces charges related to money laundering and operating an unlicensed business. Bitcoin's price hit $65,521 on Sept. 26, rising alongside stock markets following the US Federal Reserve's rate cut. Treasury Secretary Yellen believes the rate cut will lead to a 'soft landing' for the economy.

Smart Contracts

Empowering Dogecoin with Smart Contracts

Friday. September 27 at 2:00 AM

Blockchain developers QED Protocol and Nexus are gearing up to introduce a layer-2 (L2) scaling solution for Dogecoin, enabling smart contracts on the memecoin network. The upcoming zero-knowledge virtual machine (zkVM) aims to level the playing field for Dogecoin against Ethereum and Solana in the smart-contract space. Unlike Bitcoin, Dogecoin lacks support for smart contracts but operates on a similar proof-of-work (PoW) blockchain. The zkVM on Dogecoin is expected to enhance the network's capabilities, allowing developers to create various high-performance applications like decentralized exchanges and NFTs. With a market capitalization of around $17 billion, Dogecoin, initially a parody of Bitcoin, has evolved into a significant player in the crypto market. QED Protocol and Nexus have already implemented scaling solutions on Bitcoin, showcasing the potential for growth in PoW blockchains. The move towards empowering Dogecoin with smart contracts signifies a broader trend in leveraging zero-knowledge technology for blockchain scalability.

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