# Week in Ethereum News, August 10, 2024

Source: https://weekinethereum.substack.com/p/week-in-ethereum-news-august-10-2024
Kiwi News: https://news.kiwistand.com/stories/Week-in-Ethereum-News-August-10-2024?index=0x66b72bd32f2e514a031bfdc942c900f95a137071ab497ed85a86b1729516ce2533bed283
Submitted by misha on 2024-08-10 UTC, 2 upvotes, 0 comments

## Summary

Week in Ethereum News for August 10, 2024 is a weekly roundup of Ethereum developments, covering Pectra upgrade testing, client diversity, security incidents and regulatory news. The newsletter reports that Pectra-devnet-2 had a few client issues and tested recovery from non-finality, and that the Pectra (Prague + Electra) upgrade is likely targeting Q1 2025. On centralization, Lido is at 28.8%, which the newsletter describes as too close to the 33.3% threshold, and Geth holds a ~55% execution layer majority. It also reports a $12M Ronin bridge exploit, with funds since returned, and that the SEC loses to Ripple, with the judge setting the fine at $125M against the $2B the SEC had asked for.

## Article

All core devs

All Core Devs - Consensus (ACDC) #139:

Pectra (Prague + Electra) upgrade:

Pectra-devnet-2: a few client issues, tested recovery from non-finality

Pectra-devnet-3: expected soon with EIP7702 (set EOA account code)

Weekly testing call: starts Monday

EIP7594 PeerDAS: sampling to be ignored on next PeerDAS devnet

Node monitoring using discv5: 42% of nodes use Lighthouse, 36% in US, 50% in data centers

Pectra (Prague + Electra) upgrade, likely targeting Q1 2025

consensus-specs v1.5.0-alpha.4: fixes off-by-one in MaxEB consolidation processing

PeerDAS:

PeerDAS without peer sampling (SubnetDAS) proposal, minimal form of DAS which can be shipped in a few months

PeerDAS breakout #5

Centralization watch: threatening the value of your ETH

🚨 Lido at 28.8%, still too close to 33.3% threshold

Client diversity (via clientdiversity.org):

Execution layer: Geth ~55% majority

Consensus layer: Prysm 36%

Any client bug over 33.3% could mean loss of finality

Better geographic diversity is optimal, particularly outside of North America & Europe

Layer 1

Flashbots: TEE-Boost, proposal for validators to accept TEE proofs directly from block builders, reduce & eventually remove relays in MEV-Boost

Research

BRAID: multi-proposers by running multiple consensus processes in parallel, early stage

Client Releases

Consensus layer:

Lighthouse v5.3.0: faster beacon node startup, improved block proposal reliability, improved validator client broadcast and gossipsub IDONTWANT support

Lodestar v1.21.0: docker image changed to debian, adds execution layer client info to graffiti and performance improvements via napi-rs BLST bindings

Teku v24.8.0: updated metrics, requires Java 21+

Execution layer:

Erigon v3.0.0-alpha2: adds OtterSync fast sync by downloading state via BitTorrent, improves chain tip performance and reduces disk footprint

Reth v1.0.4: RPC fixes and resolves IO deadlock edge case during sync

Layer 2

Arbitrum Orbit chains bridged USDC as gas token

Mode, Zora & Metal upgrade ownership changed to Optimism Foundation & security council

EIPs/Standards

ERCs (application layer):

ERC7750: Decentralized employment system

ERC7751: Wrapping of bubbled up reverts

ERC7752: Equity token

ERC7753: Algorithmically generated NFT

ERC7754: Tamperproof web immutable transaction

Stuff for developers

Solhint v5.0.3: adds imports-order rule to sort Solidity imports topologically & alphabetically

Viem experimental adds EIP7702 (set EOA account code) support

Rindexer (EVM indexing): adds streaming data & chatbot support

Rainbow wallet extension impersonation mode

Tbl: CLI to read/edit Parquet files

Security

Ronin bridge $12M exploit via uninitialized parameter after upgrade, MEV bots front ran, funds have been returned, $500k bounty

Sablier are hiring a Business Development Lead and Frontend Engineer

EF seek a European/Civil Law qualified Legal Counsel

Job listings: $600 for 4 issues (75 char limit). Pay using 3cities. Questions? abcoathup at-gmail

Onchain stats

Fees (via ultrasound.money):

Gas: 0.8 to 701.7 gwei, 10.3 gwei average; zero net issuance at 23.9 gwei

10k ETH net issuance this week

ETHUSD: $2,197 - $3,004, currently $2,601, all time high $4,878

ETHBTC: currently 0.043 (Flippening at ~0.164)

Notable at app layer

Zora secondary market for mints via hybrid ERC1155/ERC20 on Uniswap

Safe social recovery module by Candide

Regulation/business/tokens

SEC subpoena 3 crypto VCs in fishing expedition

SEC loses to Ripple: judge sets fine at $125M, SEC had asked for $2B

New York Fed: Tornado Cash sanctions analysis

General (Defcon edition)

Gubsheep: programmable cryptography

Dark Skippy: malicious signing device can leak secret keys in transaction signatures

Sinkclose AMD CPU vulnerability, run code in System Management Mode, requires kernel access

GhostWrite direct CPU bug in vulnerable RISC-V CPUs

Garuda and Pari: fast & small SNARKs via equifficient polynomial commitments

END OF SERVICE: plan to deprecate Week in Ethereum News

Editor: @abcoathup Follow @WeekinEthNews for the most clicked links Permalink: https://weekinethereumnews.com/week-in-ethereum-news-august-10-2024

(new/changes in bold)

Aug 15-17 – Ethereum Uruguay hackathon & conference

Aug 23-Sep 13 – ETHGlobal ETHOnline virtual hackathon

Aug 23-26 – ETHTokyo hackathon & conference

Aug 29-31 – ETHAccra hackathon

Aug 31 – Underhanded Solidity contest deadline

Sep 5-8 – ETHWarsaw conference & hackathon

Sep 9-15 – ETHSafari (Kenya)

Sep 12-14 – NapulETH (Napoli)

Sep 13-14 – Ethereum México

Sep 20-22 – ETHCapeTown hackathon

Sep 20-22 – ETHGlobal Singapore hackathon

Sep 26-27 – ETHMilan conference

Oct 4-6 – Ethereum Kuala Lumpur conference & hackathon

Oct 4-6 – ETHRome hackathon

Oct 17-19 – ETHSofia conference & hackathon

Oct 17-20 – ETHLisbon hackathon

Oct 18-20 – ETHGlobal San Francisco hackathon

Nov 12-15 – Devcon 7 - Southeast Asia (Bangkok)

Nov 15-17 – ETHGlobal Bangkok hackathon

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