January 19

Quote of the Week:

“Spec v0.10.0 is a stable target for multi-client testnets and security reviews. [It also] integrates the new IETF BLS standards. A  post-audit v0.11.0 release will drop near the start of March. After sufficient time at a stable v0.11.x, a final v1.0.0 will be cut for mainnet release.

Over the holidays, Vitalik posted a new proposal on how we might expedite the eth1+eth2 merger and begin reaping the benefits of the new eth2 infrastructure much sooner. This proposal suggests migrating eth1 into a shard of eth2 after the Phase 1 infrastruture (shard data chains) is added but before a full Phase 2 – thus Phase 1.5!

A phase 1.5 has many potential benefits to the ethereum protocol:

  • Eth1 living inside of eth2 allows for native access to the scalable sharded data layer.
  • Eth1 migrating to a shard of eth2 eliminates PoW from the protocol, greatly reducing issuance and halting energy intensive mining on ethereum once and for all.
  • Finally, integrating eth1 into eth2 on an earlier schedule reduces the amount of moving parts – unifying the system, the community, and the development of the core protocol.

Phase 1.5 as it currently stands largely relies upon the success of two independent components – Phase 1 of eth2 and Stateless Ethereum on eth1.”

Highly recommended read!

“If you’ve been following the program you know the concept of economic bandwidth—but have you ever run the numbers? If DAI became a major currency what are the implications for the price of ETH? How much demand will protocols like Synthetix drive to ETH?

Yes the numbers should be taken with a grain of salt—collateral ratios will be different, of course the assumptions can’t be extrapolated as simply as presented here. Don’t let that distract you from the core point of this exercise which is this:
A trustless economy requires trillions in economic bandwidth.

In short: 
Ether is trustless value supplying economic bandwidth for Ethereum’s permissionless money protocols.

Dash Update with Amanda B!

See Also: VeChain Update (video)

“We’re happy to announce that Quantstamp has completed the security audit of the OMG Network’s More Viable Plasma. All of the relevant security issues have been addressed in the plasma contracts.”

See Also: Plasma Group researchers raise $3.5M from Paradigm and IDEO to start new company

…I mean, did anyone actually believe otherwise?? 🙄

“After what he described as a “bonded courier” delivering evidence in the multimillion-dollar legal battle, Wright’s lawyer subsequently confirmed it contained no private key information at all.

The file that he’s received did not include private keys”

The CRC rates assets on a scale of 1 to 5, with 1 denoting cryptocurrencies that do not appear to have the characteristics of a security under U.S. law. Five new assets were rated Thursday: cosmos (ATOM) and livepeer (LPT) have both received a 3.75 score, while dash (DASH) and horizen (ZEN) received 1s and ethereum classic (ETC) received a 2.

As part of its 2020 roadmap, the CRC plans to share details of the actual framework it uses to arrive at its evaluations. The end goal, according to Suarez, is to help crypto startups more easily comply with existing securities law.

The group is not affiliated with the U.S. Securities and Exchange Commission, which to date has only stated that bitcoin and ethereum are not securities.”