September 21

Good read.

“The reserve asset quality of ETH provides utility to the Ethereum economy.

Here’s how Vitalik Buterin put it last week:

ETH has a lot of intrinsic utility as a reserve asset for the Ethereum ecosystem. It’s the only fully trustless asset that can be used as collateral for a lot of decentralized finance applications. It’s the natural asset to use for things like security deposits. It’s the most convenient asset to use for payments between Ethereum applications.

ETH as collateral backing. ETH for security deposits. ETH to balance transactions. ETH providing intrinsic utility to the Ethereum economy not just for fuel or for network security, but through its value as a reserve asset.”

“Last week, seven of the eight Eth2 clients under active development succeeded in marking the major milestone of moving from single-client to multi-client testnets at the “Interop Lock-in”

  • All 7 clients in attendence were successfully run on a single network.
  • All participating languages’ libp2p implementations are now interoperable 
  • Isolated load tests with Nimbus and Lighthouse handled 2000+ validators on a single machine paired with similarly full nodes over LAN.
  • Multiple clients were built and tested on a small raspberry pi network.

Interop marked a major inflection point for Eth2. There is still much work to accomplish before launch, but engineering efforts will increasingly be geared toward testnets, optimizations, and usability – work that begins to shift this software into the hands of users.”

See Also: Ethereum 2.0 Development Update #35 — Prysmatic Labs

“The goal of Proof of Stake is the be the most efficient way to keep a public blockchain validated, not to maximize rewards for a specific use case.”
— Vitalik Buterin

“The project has long been plagued by fears that its structure was too centralized, and now the lion’s share of entities that govern the chain are in China, prompting fears of state intervention.

EOS contributors devoted to building decentralized apps (dapps) and development tools for the blockchain are losing clout – and making little or no money from contributing to the health of the ecosystem.

Luzgin left, in short, because he said it is no longer possible to earn funds for maintaining the blockchain without support from major EOS whales. Those whales are overwhelmingly supporting BPs located in China.

I can’t help but think that’s the new trend. This downward spiral (which ultimately is just a race to the bottom) isn’t a good situation to be in, as rent seekers continue to take over.”

“It has around [a] five-second master chain block time [confirmation], and an average of about two to three seconds on the work chain.

Blockchain critic David Gerard has long noted that documentation on the TON network never adequately addressed security concerns, and this new documentation doesn’t do much better.

But that’s not all: Telegram has given little information about where and how user data is stored. ‘There are more users here than on any other chain, and having it stored in a proper place is one of the largest concerns.’ With a novel, untested protocol, launching to more people than ever before, TON is a risky business.”

“Specifically, the developments will focus on the means of distributing staking revenues and greater engagement of the community.

TRON Partner Staking & Vote Reward: for each block, the most-voted 127 nodes (TRON partners) will receive TRX rewards in proportion to the votes they get.”