The 11th edition of our curated newsletter.
In today’s newsletter we look at:
- JPMorgan’s Bitcoin fund
- Staking pools analysis
- Scalar microtransactions
- Ethereum’s London fork
- Ethereum gas explanation
- Ethport at Loopring 3.7
JPMorgan Will Let Clients Invest in Bitcoin Fund
There is a thin line between love and hate. A few years ago, JPMorgan’s CEO was more than skeptical about Bitcoin, calling it ‘worse than tulips’ and people who buy it plain stupid. Now the bank is about to roll out a Bitcoin fund for private wealth clients to invest in. The fund will be actively managed and is the bank’s first product that dependents directly on Bitcoin’s performance.
On Staking Pools and Staking Derivatives
In the run-up to Ethereum 2.0 and its transitioning to the Proof of Stake algorithm, a crypto asset investment firm Paradigm Research has published a piece exploring staking pools and derivatives. The article explores how staking pools solve delegation and the minimum stake requirement. It also dives into the topic of how staking derivatives (aka stETH, a claim on staked ETH and any rewards accruing in the smart contract) address the long lockup and allow stakers to unlock liquidity on their staked ETH.
Meet Scalar: A Microtransaction Solution for Every Query
Transferring query traffic over from the hosted service to the decentralized network is complicated because it’s hard to determine how to support query transactions. With billions of monthly queries, it is pretty difficult not to increase the load time for dApp users.
Scalar has developed a scalable microtransaction technology based on the Connext Vector protocol, which uses state channels to aggregate and compress transactions before being finalized on-chain. It is now ready for the Web3 ecosystem and will be open-sourced for any application to use Scalar for processing transactions efficiently.
Ethereum’s London Is Expected To Be Out in Mid-July
In one of his latest tweets, Tim Beiko, the chair of All Core Devs (ACD) meetings, suggests that the London fork is likely to be deployed by mid-July. It will contain EIPs 1559, 3198 (BASEFEE opcode), 3238 (Ice Age pushback), and the to-be-created refund EIP. Other team goals include working on the Merge parallel to London and starting working on another small feature fork, Shanghai, afterward.
Gas Was High, and Here’s Why
Ethport Will Be Available as Part of the Loopring 3.7
Loopring, an Ethereum Layer-2 scaling protocol, has made a couple of important announcements. The plan is to do as much work as possible on L2 to make things cheap enough.
Firstly, Loopring zkRollup users can now interact with L1 dapps directly from L2 at a low price by utilizing the power of batching and zero-knowledge proofs. Secondly, centralized exchanges can support withdrawing directly to Loopring’s zkRollup via standard L1 functionality while still reaping the cost savings of L2. And finally, Ethport will be available as part of the Loopring 3.7 release in May 2021.
This is a weekly newsletter curated by our Blockchain Lead Vyacheslav Akhmetov. We cover the most sparkling events in the industry and sharing more about our journey.