rogenth

@VitalikButerin On point (v) — ultra-low-latency sequencing has deeper implications for DeFi than just UX. Lower fees reduce the arbitrage threshold in AMMs, which compresses LVR for LPs structurally. The sequencing properties of L2s matter for market efficiency, not just speed.

There have recently been some discussions on the ongoing role of L2s in the Ethereum ecosystem, especially in the face of two facts: * L2s' progress to stage 2 (and, secondarily, on interop) has been far slower and more difficult than originally expected * L1 itself is scaling, fees are very low, and gaslimits are projected to increase greatly in 2026 Both of these facts, for their own separate reasons, mean that the original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path. First, let us recap the original vision. Ethereum needs to scale. The definition of "Ethereum scaling" is the existence of large quantities of block space that is backed by the full faith and credit of Ethereum - that is, block space where, if you do things (including with ETH) inside that block space, your activities are guaranteed to be valid, uncensored, unreverted, untouched, as long as Ethereum itself functions. If you create a 10000 TPS EVM where its connection to L1 is mediated by a multisig bridge, then you are not scaling Ethereum. This vision no longer makes sense. L1 does not need L2s to be "branded shards", because L1 is itself scaling. And L2s are not able or willing to satisfy the properties that a true "branded shard" would require. I've even seen at least one explicitly saying that they may never want to go beyond stage 1, not just for technical reasons around ZK-EVM safety, but also because their customers' regulatory needs require them to have ultimate control. This may be doing the right thing for your customers. But it should be obvious that if you are doing this, then you are not "scaling Ethereum" in the sense meant by the rollup-centric roadmap. But that's fine! it's fine because Ethereum itself is now scaling directly on L1, with large planned increases to its gas limit this year and the years ahead. We should stop thinking about L2s as literally being "branded shards" of Ethereum, with the social status and responsibilities that this entails. Instead, we can think of L2s as being a full spectrum, which includes both chains backed by the full faith and credit of Ethereum with various unique properties (eg. not just EVM), as well as a whole array of options at different levels of connection to Ethereum, that each person (or bot) is free to care about or not care about depending on their needs. What would I do today if I were an L2? * Identify a value add other than "scaling". Examples: (i) non-EVM specialized features/VMs around privacy, (ii) efficiency specialized around a particular application, (iii) truly extreme levels of scaling that even a greatly expanded L1 will not do, (iv) a totally different design for non-financial applications, eg. social, identity, AI, (v) ultra-low-latency and other sequencing properties, (vi) maybe built-in oracles or decentralized dispute resolution or other "non-computationally-verifiable" features * Be stage 1 at the minimum (otherwise you really are just a separate L1 with a bridge, and you should just call yourself that) if you're doing things with ETH or other ethereum-issued assets * Support maximum interoperability with Ethereum, though this will differ for each one (eg. what if you're not EVM, or even not financial?) From Ethereum's side, over the past few months I've become more convinced of the value of the native rollup precompile, particuarly once we have enshrined ZK-EVM proofs that we need anyway to scale L1. This is a precompile that verifies a ZK-EVM proof, and it's "part of Ethereum", so (i) it auto-upgrades along with Ethereum, and (ii) if the precompile has a bug, Ethereum will hard-fork to fix the bug. The native rollup precompile would make full, security-council-free, EVM verification accessible. We should spend much more time working out how to design it in such a way that if your L2 is "EVM plus other stuff", then the native rollup precompile would verify the EVM, and you only have to bring your own prover for the "other stuff" (eg. Stylus). This might involve a canonical way of exposing a lookup table between contract call inputs and outputs, and letting you provide your own values to the lookup table (that you would prove separately). This would make it easy to have safe, strong, trustless interoperability with Ethereum. It also enables synchronous composability (see: ethresear.ch/t/combining-pr… and ethresear.ch/t/synchronous-… ). And from there, it's each L2's choice exactly what they want to build. Don't just "extend L1", figure out something new to add. This of course means that some will add things that are trust-dependent, or backdoored, or otherwise insecure; this is unavoidable in a permissionless ecosystem where developers have freedom. Our job should make to make it clear to users what guarantees they have, and to build up the strongest Ethereum that we can.

Antifragilidad sin mecanismo de excursión inelástica no es antifragilidad; es arrogancia elástica. Antifragility without the capacity for inelastic excursion is not antifragility; it is merely elastic arrogance.

@karbonbased "Soy el más bacán, lo demostré oliendo mis peos en el vacío de twitter"

@karbonbased Your thesis doesn't fail, it's just overfitted to your own evidence

What can I say about people who disagree with me other than they're wrong

@willywoo Fair. Your metric still holds. But ETFs and paper BTC can dilute on chain flow signals. The real question is whether the dominant driver has shifted. If sustained institutional flows do not materialize by 2026, your thesis wins by KO.

Until orange climbs higher into 2026 and starts to weird non-cyclical stuff, this narrative on THE END OF 4 YEAR CYCLES is NOT supported by data. Flows into the BTC network declining according to past cycles.

Naive to think the folks messing around at Frontier have their security sorted. 🔨 #nietzchechilote

@blue_but_dark @BillyM2k They're cousins

@BillyM2k so it wasn’t a llama?

@GrapheneOS @mtpelerin

Unfortunately, PayPal permanently locked our GrapheneOS Foundation account today. No reason has been provided for the account being locked. All we've done is accept donations. We added our bank account information yesterday in order to begin withdrawing money and it was locked.

@Tetranode Meanwhile in Patagonia

Getting some Mumbai MATIC at @quicknode's faucet for my c3Eb480c wallet! faucet.quicknode.com/polygon/mumbai…

@kishelap @CryptoMichNL Gotta to adapt to new audience

@CryptoMichNL Is this the new way to get subs? Working well?

I’m vaccinated and I think it’s in my Top 3 regrets of my life.

@OriginProtocol @donalt This is the right answer

@donalt France for the normies, germany for those that know

My (French) GF and I have a very competitive argument about bread As a German (duck that gets fed bread every day) this is a topic very near and dear to my heart but I'm willing to bend my opinion to the crowd Which country is more well-known for its bread

@chrisboettcher9 @remindmeof_this in 10 years

Bold prediction: 50% of university enrollment will disappear in the next 10 years.

@gabrielhaines Gm

It’s always a Gm

While you were distracted by FTX, the open-sourcing of builders (after relayers) by Flashbots happened and is now starting to progressively produce its effects. I am pretty confident the percentage of OFAC-compliant blocks peaked at 79% last week and is now on a clear downtrend.

A man who stole $10B, @SBF_FTX just got interviewed, portrayed almost as a victim and got an applause at the end Still free and fine. Aaron Swartz, who downloaded academic journals to share with the world got $1m in fines and 35 yrs in prison. This lead him to take his own life

@QiDaoProtocol @0xPolygon @ArrakisFinance @0xPolygonDeFi @MakerDAO @MakerGrowth @blockbytescom @maticnews_com @PolygonDaily

1/ 🔴Introducing the $MAI- $DAI strategy🟡— A new era for liquidity on @0xPolygon 🔥Interest free $MAI loans with maximum capital efficiency of 98.04% LTV🔥 💧New vaults use MAI-DAI #UniV3 @ArrakisFinance concentrated liquidity as collateral for MAI 👉app.mai.finance/vaults/create👈

@StackerSatoshi I have to thank him for making me use and discover Crypto for cross-board transactions due to their stupid fees.

7/11 2016: In an interview with Yahoo Finance in 2016, the CEO of TransferWise claimed “Bitcoin, I think we can say, is dead” citing a lack of traction for his reasoning.

1/11 Crypto is DEAD … That is what you will be told as more people hear about the damage caused by FTX. However, that is a claim people have been making since 1 BTC cost $0.06. For all the people who believe #Bitcoin is dead, I have some news for you 👇🏼

@definovato 🧹🧹🧹

👀👀👀☠️

@mikemcg0 I hope they properly deleted my account... The deposits were slow and fishy on FTX.com and I just decided to delete my account for the hassle it was.