Smart Contracts

Ethereum Development Skyrockets with Surge in Researchers

Friday. August 30 at 9:00 PM

1 min. read

The number of researchers behind Ethereum development has surged by over 2,100% in the past five years, indicating positive growth for the second-largest blockchain network. Starting with just 25 researchers in Q1 2019, the team peaked at around 550 in Q1 2024. This growth was highlighted by Emre Caliskan in an Aug. 29 post. Despite a slight dip to 450 developers in Q2 2024, Ethereum's innovation remains strong. With 2,788 full-time developers and over 8,865 total developers as of July 1, Ethereum leads in monthly active developers. However, it saw a 10% decrease in yearly developers. In terms of contract deployers, Ethereum ranks sixth with 127,702 monthly deployers, while Base blockchain leads with over 862,000. Ether's price surged by over 1,200% in five years, reaching above $2,509. Analysts predict a potential rally to $3,000 by October.

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Debates on Ethereum Gas Limits: Balancing Stability and Security

Tuesday. December 10 at 7:00 AM

Toni Wahrstätter, a researcher at the Ethereum Foundation, urges caution in increasing Ethereum's block gas limit due to technical challenges. The Ethereum community is discussing the potential risks and benefits of raising the gas limit to enhance network capacity. Wahrstätter points out that surpassing the current 36 million gas threshold is difficult without significant protocol upgrades, as it could lead to propagation failures and network destabilization. The proposed increase to 60 million gas per block may breach vital restrictions on block size, impacting network efficiency. Core developers stress the importance of testing and data collection to evaluate the impact of higher gas limits on Ethereum's security and reliability. The upcoming Pectra 2 network upgrade aims to address these challenges by introducing proposals to improve block sizes and network performance. Overall, a cautious approach is advised to maintain Ethereum's stability amidst ongoing debates and developments in the crypto industry.

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Cardano's Milestone with Zero-Knowledge Smart Contract

Thursday. November 28 at 12:00 PM

Cardano has achieved a significant milestone by deploying its first zero-knowledge (ZK) smart contract on the mainnet. This milestone, utilizing the Plutus v3 ledger language, enhances the network's capabilities. The ZK smart contract, Halo2, enables zero-knowledge applications and partner chains like Midnight to integrate with Cardano. The Input-Output (IO) Research team verified the Halo2 proof on the mainnet for the Ad-hoc Threshold Multi-signatures scheme, validating 50 out of 90 signatures. This achievement eliminates the need for a trusted setup and addresses security risks and logistical challenges. Halo2's support for recursive proofs allows for efficient proof aggregation, targeting enhanced performance and scalability. By building on modern cryptographic primitives, Halo2 aims to enhance the overall security of zero-knowledge proof, paving the way for real-world applications to reduce costs and improve proof generation speed. Cardano's Hoskinson plans to leverage Bitcoin's code with a DeFi layer to restore its innovative edge, while Wyoming's stablecoin commission faces backlash for bypassing inclusive blockchain procedures.

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Legal Victory for Immutable Smart Contracts

Wednesday. November 27 at 11:00 AM

The U.S. Fifth Circuit Court recently ruled against the Treasury's sanctioning of Tornado Cash's immutable smart contracts, stating that such autonomous software cannot be considered property. The court emphasized that when smart contracts are immutable, they cannot be classified as property subject to sanctions. This decision is seen as a significant win for privacy advocates and blockchain developers. The court highlighted that the smart contracts in question are not capable of being owned due to their immutable nature, making them accessible to all, including sanctioned entities. The ruling also emphasized that protocols built on smart contracts, operating without human intervention, cannot be classified as services. While the court's decision overturned the sanction on Tornado Cash, the broader designation and blocked status remain in place, with the case being sent back to the district court for further review.

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Empowering Freedom of Speech Through Decentralization

Friday. November 15 at 4:30 AM

During the peak of the COVID-19 crisis, China enforced a two-month lockdown in Shanghai not only to combat the virus but also to suppress dissent against its zero-COVID policies. This led to the creation of Ethereum's 'based rollups.' Daniel Wang, CEO of Taiko Labs, shared his experience of being confined in his apartment during the lockdown, inspiring him to develop a decentralized publishing network where individuals can express themselves anonymously without fear of censorship. Wang emphasized the need for a robust technology to ensure true freedom of speech, leading to the creation of Taiko, a layer-2 chain that eliminates centralization and signature verifications. His goal is to demonstrate the effectiveness of based rollups and encourage collaboration within the Ethereum community to achieve scalability and decentralization. Wang's message is clear: unity and innovation are key to strengthening the Ethereum ecosystem.

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