Nemu Cat

In these five years, the Ethereum Foundation is entering a period of mild austerity, in order to be able to simultaneously meet two goals: 1. Deliver on an aggressive roadmap that ensures Ethereum's status as a performant and scalable world computer that does not compromise on robustness, sustainability and decentralization. 2. Ensures the Ethereum Foundation's own ability to sustain into the long term, and protect Ethereum's core mission and goals, including both the core blockchain layer as well as users' ability to access and use the chain with self-sovereignty, security and privacy. To this end, my own share of the austerity is that I am personally taking on responsibilities that might in another time have been "special projects" of the EF. Specifically, we are seeking the existence of an open-source, secure and verifiable full stack of software and hardware that can protect both our personal lives and our public environments ( see vitalik.eth.limo/general/2025/0… ). This includes applications such as finance, communication and governance, blockchains, operating systems, secure hardware, biotech (including both personal and public health), and more. If you have seen the Vensa announcement (seeking to make open silicon a commercially viable reality at least for security-critical applications), the ucritter.com including recent versions with built in ZK + FHE + differential-privacy features, the air quality work, my donations to encrypted messaging apps, my own enthusiasm and use for privacy-preserving, walkaway-test-friendly and local-first software (including operating systems), then you know the general spirit of what I am planning to support. For this reason I have just withdrawn 16,384 ETH, which will be deployed toward these goals over the next few years. I am also exploring secure decentralized staking options that will allow even more capital from staking rewards to be put toward these goals in the long term. Ethereum itself is an indispensable part of the "full-stack openness and verifiability" vision. The Ethereum Foundation will continue with a steadfast focus on developing Ethereum, with that goal in mind. "Ethereum everywhere" is nice, but the primary priority is "Ethereum for people who need it". Not corposlop, but self-sovereignty, and the baseline infrastructure that enables cooperation without domination. In a world where many people's default mindset is that we need to race to become a big strong bully, because otherwise the existing big strong bullies will eat you first, this is the needed alternative. It will involve much more than technology to succeed, but the technical layer is something which is in our control to make happen. The tools to ensure your, and your community's, autonomy and safety, as a basic right that belongs to everyone. Open not in a bullshit "open means everyone has the right to buy it from us and use our API for $200/month" way, but actually open, and secure and verifiable so that you know that your technology is working for you.

My first reaction to this was: "And that's why I just got my $2,725 check of fileverse tokens now that fileverse has grown to the point where my dad regularly writes docs in fileverse that he sends to me" My second reaction to this was: "I see how this makes total sense from a crypto perspective, but it makes zero sense from an outside-of-crypto perspective ... hmm, what does this say about crypto?" My more detailed reaction: There are many distinct activities that you can refer to as "incentivizing users". First of all, paying some of your users with coins that your app gets by charging other users is totally fine: that's just a sustainable economic loop, there is nothing wrong with this. The activity that I think people are thinking about more is, paying all your users while the app is early, with the hope of "building network effect" and then making that money back (and much more) later when the app is mature. My general view, if you _really_ have to simplify it and sacrifice some nuances for the sake of brevity, is: * Incentives that compensate for unavoidable temporary costs that come from your thing being immature are good * Incentives that bring in totally new classes of users that would not use even a mature version of your thing without those incentives are bad For example, I have no problem with many types of defi liquidity rewards, because to me they compensate for per-year risk of the project being hacked or the team turning out to be scammers, a risk that is inherently higher for new projects and much lower once a project becomes more mature. Paying people to make tweets that get attention, might be the most "pure" example of the wrong thing to do, because you are going to get people who come to your platform to make tweets, with every incentive to game any mechanisms you have to judge quality and optimize for maximum laziness on their part, and then immediately disappear as soon as the incentives go away. In principle, content incentivization is a valuable and important problem, but it should be done with care, with an eye to quality over quantity, which are not natural goals that designers of "bootstrapping incentives" have by default. If fact, even if users do not disappear after incentives go away, there is a further problem: you succeed from the perspective of growing *quantity of community*, but you fail from the perspective of growing *quality of community*. In the case of defi protocols, you can argue: 1 ETH in an LP pool is 1 ETH doing useful work, regardless of whether it's put there by a cypherpunk or an amoral money maximizer. But, (i) this argument can only be made for defi, not for other areas like social, where esp. in the 2020s, quality matters more than quantity, and (ii) there are always subtle ways in which higher-quality community members help your protocol more in the long term (eg. by writing open-source tools, answering people's questions in online or offline forums, being potential developers on your team). The ideal incentive is an incentive that exactly compensates for temporary downsides of your protocol, those downsides that will disappear once the protocol has more maturity, and attracts zero users who would not be there organically once the protocol is mature. Charging users fees, but paying them back in protocol tokens, I think is also reasonable: it's effectively turning your users into your investors by default, which seems like a good thing to do. A further more cynical take I have is that in the 2021-24 era, the "real product" was creating a speculative bubble, and so the real function of many incentives was to pump up narratives to justify the narrative for the bubble. So any argument that incentives are good for bootstrapping acquisition should be not judged on the question of whether it's plausible, but on the question of whether it's more plausible than the alternative claim that it's all galaxy brain justification ( vitalik.eth.limo/general/2025/1… ) for a "pump and dump wearing a suit". TLDR: the bulk of the effort should be on making an actually-useful app. This was historically ignored, because it's not necessary for narrative engineering to create a speculative bubble. But now it is necessary. And we do see that the successful apps now, the apps that we actually most appreciate and respect, do the bulk of their user acquisition work in that way, not by paying users to come in indiscriminately.

Crypto never sleeps and neither do I 😅 Every dip feels scary but the builders keep building regardless. That's honestly what keeps me bullish long term despite all the noise. #crypto Who else staying patient out here?

Keyed nonces are not just a way to add stronger in-protocol support for privacy solutions. They are also a potential first foray into a new state scaling strategy for Ethereum: create new types of storage that are more optimized for handling categories of use cases that we care about, with restrictions on their use that make them usable at extreme scale while preserving the protocol's decentralization. Let's zoom in on this case (in-protocol nullifiers). Let's say we get to 2000 TPS of privacy-preserving transactions onchain, for eight years. Then we get 2^11 tx/sec * 2^25 sec/year * 2^3 years = 2^39 [ie. 500 billion] nullifiers stored onchain (the challenge with nullifiers is that they are fundamentally not possible to prune). It's actually far easier to keep Ethereum decentralized if we have 500 billion nullifiers onchain in a dedicated nullifier store, than if we just let them grow in the current state. The reason is that the more restrictive structure of nullifiers (only used to check validity, and we can require the nullifier ID to be explicitly specified in the tx) enables more decentralized ways of handling them. This includes: * Sharding: each node (incl builders) can hold a small percentage of nullifiers, and make sure to have a connection to an honest peer in each other shard * Bloom filters: see this somewhat wacky idea here for reducing the VOPS requirement for nullifiers to ~8 bits per nullifier: #k=UT7Btd6tyqHgOj47t-TX06F8D6OpcpM_2PKdf7s4tGE" target="_blank" rel="nofollow noopener">docs.fileverse.io/d/020001fc0012… Both techniques are not possible to use for dynamically accessible state. And so builders would have to download the full 16 TB to become viable (not just optimal, viable!), and privacy protocol users would not be able to use FOCIL without providing a Merkle branch proving that their nullifier is unspent, and there would be very few nodes capable of providing such a branch... Zooming back out, the moral of the story is that fully dynamic state is much harder to handle at extreme scale (tens to hundreds of TB) than state that is more controlled and restricted in how it can be used. And so if we can move the majority of usage into these more specialized forms of state (which we can make much cheaper in terms of gas), then we can keep Ethereum decentralized, and highly scalable, and keep the fully dynamic state available for applications (eg. defi) that really need its full functionality.

Now that ZKEVMs are at alpha stage (production-quality performance, remaining work is safety) and PeerDAS is live on mainnet, it's time to talk more about what this combination means for Ethereum. These are not minor improvements; they are shifting Ethereum into being a fundamentally new and more powerful kind of decentralized network. To see why, let's look at the two major types of p2p network so far: BitTorrent (2000): huge total bandwidth, highly decentralized, no consensus Bitcoin (2009): highly decentralized, consensus, but low bandwidth - because it’s not “distributed” in the sense of work being split up, it’s *replicated* Now, Ethereum with PeerDAS (2025) and ZK-EVMs (expect small portions of the network using it in 2026), we get: decentralized, consensus and high bandwidth The trilemma has been solved - not on paper, but with live running code, of which one half (data availability sampling) is *on mainnet today*, and the other half (ZK-EVMs) is *production-quality on performance today* - safety is what remains. This was a 10-year journey (see the first commit of my original post on DAS here: github.com/ethereum/resea… , and ZK-EVM attempts started in ~2020), but it's finally here. Over the next ~4 years, expect to see the full extent of this vision roll out: * In 2026, large non-ZKEVM-dependent gas limit increases due to BALs and ePBS, and we'll see the first opportunities to run a ZKEVM node * In 2026-28, gas repricings, changes to state structure, exec payload going into blobs, and other adjustments to make higher gas limits safe * In 2027-30, large further gas limit increases, as ZKEVM becomes the primary way to validate blocks on the network A third piece of this is distributed block building. A long-term ideal holy grail is to get to a future where the full block is *never* constituted in one single place. This will not be necessary for a long time, but IMO it is worth striving for us at least have the capability to do that. Even before that point, we want the meaningful authority in block building to be as distributed as possible. This can be done either in-protocol (eg. maybe we figure out how to expand FOCIL to make it a primary channel for txs), or out-of-protocol with distributed builder marketplaces. This reduces risk of centralized interference with real-time transaction inclusion, AND it creates a better environment for geographical fairness. Onward.

trump really put ufc on the white house lawn and gave out prizes in crypto, & the fighters were shilling memecoins on the octagon after winning

I’ve dedicated my life to crypto. I’m all in.

Tom Lee is getting absolutely laughed at for his bet on Ethereum. Good. Thinking 10 years ahead isn’t always appreciated. History is full of business titans who were laughed at for seeing the future too early: Elon Musk: “Electric cars are weak & lame." Jeff Bezos: “Selling books… online? Stocks down 99%” Jensen Huang: “GPUs are just for video games.” Steve Jobs: “Touchscreen? App marketplace? Smart?” Jack Dorsey: “A 140-character social network? Who would use it?” These visionaries weren't crazy. They were just early. Ethereum is a nascent industry exploding with growth. Don’t be so quick to bet against technology. Don't be so quick to count crypto out.

Update: I used instant noodles as the base and I have zero regrets — what's your sneaky ramen shortcut?

Nothing hits harder than a bowl of homemade ramen on a cold night. Like why would I ever order takeout again? Life is genuinely good rn 🍜

JUST IN: $150,000,000 worth of shorts liquidated from the crypto market following US-Iran peace agreement.

Congratulations @ElonMusk and $SPCX on a historic IPO. Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet.

You hear about the guy who put $1000 into the SpaceX IPO and made $25,000, but you don't hear about the hundreds who put $1000 and are left with $0.10.

Either way, I'm not selling my sleep schedule anytime soon — what's keeping YOU up at night lately?

Crypto never sleeps and honestly neither do I 😅 Every day there's something wild happening in this space that makes you wonder... are we still early or is this just the new normal? #crypto Thoughts?

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@Figure_robot "Houston, we have a problem"

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who is that Pokémonnnn ใครอยากให้วาดน้องคนไหนอีกบอกเค้าได้นะคะ🥺 เผื่อเป็นเซ็ตต่อไป ฮิๆๆๆ

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