The Disrupt Weekend

Eth2 Public Multi-client Testnet “Kintsugi” Live

“Offchain Labs and Chainlink Labs are working on minimizing MEV by exploring the application of Fair Sequencing Services (FSS)—a decentralized transaction ordering solution to mitigate the detrimental effects of MEV.

Ultimately, the combination of FSS together with the Arbitrum protocol would help provide users a greater degree of assurance that the ordering of their transactions won’t be manipulated. Additionally, FSS would increase the reliability of the Arbitrum protocol by creating a decentralized sequencer, minimizing risk of downtime.

This ideal combination of Arbitrum’s leading Layer-2 Rollup capabilities and the transaction fairness provided by FSS, makes Arbitrum Chainlink’s recommended solution for scaling Ethereum to billions of users worldwide, across all dApps.

To ensure that client teams have a strong incentive to maintain the core Ethereum network over the long term, the Ethereum Foundation has launched a Client Incentive Program. This program offers client teams ETH-denominated rewards which unlock over time, as long as they continue to build software which meets the performance and security requirements of mainnet.

Specifically, teams in the program will receive a total of 144 validators (4608 ETH) each to operate on mainnet. The size of these grants recognizes both the excellent work performed over the past few years and the many development challenges expected well into the future.

Post-merge, due to validators earning transaction fees, the program will begin to provide a steady source of revenue to teams. As the grants vest, teams are free to do what they please with the validators they control.

The structure of the program aligns teams with the long term health of the network and ensures they are incentivized to build secure and performant software. It was designed to be backwards-looking and reward teams who have already delivered production-quality software. We hope that it provides a foundation for a healthy incentivization of core contributors to Ethereum.”

“Most types of qubits today can only hold onto a quantum state for a few microseconds before they lose it – either they drift to another quantum state unpredictably, or they interact with the environment and “collapse” any superposition they had.

Not only that, any gate applied to the qubit has some chance of causing error. Today’s qubits are close to 1% gate error. Imagine if every time you sent a bit through a transistor, there was a 1% chance of flipping the bit. You could hardly perform any computation at all!

Google’s Sycamore chip, famous because it seems to be able to solve a (useless) computational problem faster than any classical computer, can only do about 20 gates in a row before being reduced to useless noise. To break RSA-2048 would require more than 2.1 billion gates in a row.

For quantum computers to be useful, we need more qubits but we also need better qubits. A quantum computer that uses error correction to push qubit and gate errors to 0 is called fault-tolerant.

The front-runner for a quantum error-correcting code is called a surface code. We’re very close to this! However: If we need 100 physical qubits to make a single logical qubit, then that increases our qubit requirements by a factor of 100. And 100 is an underestimate: longer algorithm’s like Shor’s algorithm (to break RSA) likely require more than 1000 physical qubits per logical qubit.

Even though quantum computers are far away, you should still replace RSA and ECC. Michele Mosca pointed out the main problem: Suppose quantum computers that can break RSA-2048 are 30 years away. If it will take 10 years to standardize new cryptography, 10 years for your organization to implement it, and you need your secrets to remain safe for 12 years, then you’re already 2 years too late, since someone can record your encrypted data and break it later. Basically, it’s a race between the world’s most brilliant quantum engineers and the world’s laziest sysadmins, where the sysadmins have about a 30 year headstart.

“Some five years in development, the milestone follows the completion of the first five parachain auctions, a system of crowd loans amassing large amounts of DOT, the native token of Polkadot, gathered from each blockchain’s respective community.

The first five parachains going live – Acala, Moonbeam, Parallel Finance, Astar and Clover – are focused on a variety of topics from decentralized finance (DeFi), to investments and loans.

Parachains are able to lease a slot on Polkadot’s main Relay Chain for up to 96 weeks at a time. Ultimately, Polkadot will offer 100 parachain slots. Further slots will be allocated in batches over the coming months. Not all of these slots will be allocated via parachain slot auctions, as some will be used for governance-enabled common-good parachains.

After taking a bet on Polkadot and the Substrate framework when we started building over two years ago, we couldn’t be more excited to be launching Acala’s parachain to provide a DeFi platform and native, decentralized stablecoin (aUSD) to the Polkadot ecosystem and beyond.”

“A clash is brewing. Much like the many recent examples of gamers getting angry over crypto invading their platforms, the outrage can cut the other way: crypto people can see that brands are rushing into Web3 and making it uncool. Crypto lingo like “WAGMI” (we are going to make it) could die a quick death when you have Pepsi proudly tweeting it.

Beyond their attempted adoption of crypto language, brands are rushing to stake ownership claims in the metaverse (and are already suing to do it). The idea of gated areas owned by centralized corporations is antithetical to the whole point of the metaverse. Animoca chairman Yat Siu says tech giants like Facebook and Tencent represent the biggest threat to an open metaverse.

On the other hand, if you believe the metaverse is real and here to stay, and so are crypto tools like Ethereum domain names, NFTs, and DeFi pools, then you don’t mind brands rushing in because if it all truly goes mainstream, everyone will be in. And for crypto to grow, it needs to open its arms to everyone and create easier UX onramps for newcomers.

But still. It’s hard to look at a cartoon microphone with a Pepsi logo on it without a serious sense of cringe.”

See Also: The Future of NFTs Is Fungible