The 54th edition of our curated newsletter.
In today’s newsletter we look at:
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- Who Stole The DAO’s $139 mil?
- All Talks of ETHDenver
- Rollup Economy
- On-Chain Identity
- New NFT Standard
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Exclusive: Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether
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In 2016, someone committed the biggest theft of ETH. The DAO VC fund raised $139 million via an exceptionally successful crowdfunding campaign. A few weeks later, a hacker stole 31% of this sum. Until now, nobody had a clue who was behind it.
A well-known crypto journalist and author, Laura Shin, has led an independent investigation of what has happened with The DAO’s funds and claims to have found the perpetrator. Her Forbes article is a must-read for all true crime lovers.
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In May 2021, the Ethereum network charged the highest-ever gas fee of $70
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ETHDenver 2022 Highlights
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This year, ETHDenver, the largest and longest running ETH event in the world, took place in mid-February. Ethereum builders discussed the network’s pressing issues, from rollups and web3 to regulations and the general state of the modern blockchain landscape.
This post gathered all the YouTube links on talks held during the conference, plus short subject descriptions.
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Understanding Rollup Economics From First Principles
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Rollups are set to become Ethereum’s preferred way of scaling. They extend the protocol they build on and preserve most of its properties, guaranteeing the correctness of the off-chain execution and data availability.
At the same time, the fees on L1 are still high. Barnabé Monnot, the author of this piece, took a look at rollups from an economic perspective. He identified the participants, their roles, and responsibilities and teased out various costs, revenues, and fees.
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On-chain Identity Landscape
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The current state of professional identities is far from perfect, and crypto builders are working on alternative solutions. On-chain identity is a digital representation of a person stored on blockchain services. It has the potential for DAOs to get closer to the one-person-one-vote model, increasing a protocol’s resistance towards Sybil attacks.
This article dives into the topic of innovation focused on putting work, professional identity, and reputation on-chain.
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ERC721psi: A Scalable NFT Implementation
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NFT standard, ERC721, was established in 2018 and worked perfectly fine back then. However, times changed. Now, Ethereum hosts more activities and accommodates hundreds of thousands of users. As a result, gas fees have soared, especially at the launch of the NFT projects.
Recently, crypto projects have started developing new NFT standards to address the high fee issue. Inspired by Azuki’s ERC721A, ERC721Psi provides batch minting at a fixed gas cost. Read all about this new standard in its creators’ Medium post.
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Something You Could Have Missed
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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.
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