Wait, Revolut just handed over passports, selfies AND BTC activity to scammers posing as the government?? π³ This is exactly why self-custody matters. Your bank is one phishing email away from leaking your whole identity.
Still trusting CEXs? #Bitcoin
Half these daily crypto recaps read like noise, but underneath the chaos the builders keep shipping and liquidity keeps rotating. Hard to stay bearish when every "boring" week still moves the needle. Who else feels this? #crypto
Every day in crypto feels like a mirror to something deeper in us... our hope, our fear, our search for meaning in numbers on a screen. Maybe the tech isn't just about money. Maybe it's about trust itself.
What are we really building here? #crypto
Wild seeing Amodei, Altman, and Musk actually agree on something: pump the brakes on AI. When the guys building the rockets say "maybe slow down," you listen. Or is this just moat-building disguised as safety talk? #AI
Another wild day in crypto and honestly I'm not even surprised anymore. The market moves faster than my morning coffee kicks in β
Sitting back and stacking through the noise is the only real play right now. Who's with me? #Crypto
One positive consequence of all the recent detailed thinking about transaction formats - not just 8141, also "future of state" discussions eg. UTXOs, PBT, keyed nonces, and also recursive STARK mempool - is that we have a much more explicit understanding of how transactions have "actions" and "dependencies", and we can engineer around optimizing the two separately.
An action is an effect that a transaction has.
A dependency is a fact about the transaction and/or the state that must be true for the transaction to be valid.
eg. a signature is a dependency, a Merkle proof of a UTXO is a dependency, a ZK-SNARK (or STARK) is a dependency, a call that sends ETH is an action
Dependencies can be processed in parallel. Dependencies that involve state can be reasoned about by a mempool, especially if the specific state accessed is statically declared. Dependencies that are pure (no state calling allowed) can be processed once at the mempool layer and never need to be processed again - and potentially even replaced with a STARK verifying them, allowing not just execution but also data to be elided.
In principle, dependencies and actions can all be expressed as calls (if needed, calls to precompiles). This would make the transaction format itself very bare-bones and minimalist (a list of calls, flags for the type of each call eg. dependencies would be static or pure calls, and origin, nonce, etc) and allows maximum cross-compatibility even if different EVM chains have different features.
In 2015-era Ethereum, thinking explicitly about these differences was not very important: execution was execution, there were few enough transactions that we could process them all serially, and single-key ECDSA accounts were good enough for everyone.
Ethereum's current scaling strategy, however, requires moving beyond that paradigm. Ethereum is beloved by many developers because the execution and state model is so dynamic and flexible. But dynamic and flexible is not friendly to scaling. Fortunately, >90% of Ethereum's activity by volume does not require anything dynamic and flexible. So, we require contracts, accounts and transactions to more explicitly specify what is dynamic and flexible and what is more statically-analyzable but more restrictive, and more statically-analyzable things get the lowest gas cost and thus scale the most. Effectively, learning from the best of both the 2015-era Ethereum model and a more Bitcoin-like model (reminder: Bitcoin has had what I call account abstraction since the beginning), and making a mixture of both (really, the full spectrum between both) available, with gas costs appropriate for the level of scale involved.
New state types, the recursive STARK mempool, keyed nonces, etc all go in this direction.
This all relates to transaction types, because a general-purpose transaction type is a very natural interface layer on top of which all of this can be implemented, and the current thinking around the EIP-8141 transaction type is going in this exact direction that is friendly to these kinds of future generalizations.
So in that sense, 8141 done well is not just a culmination of 10 years of account abstraction work, it's also preparation for the next few years of responsible decentralization-friendly hyper-scaling.
Next week will be Huge for Crypto.
πΊπΈ President Trump met with advisers on Friday to review ethics language for the Clarity Act.
Sept 15 - Senate votes on Clarity Act.
Sept 16 - House Ways and Means Committee will hold a crypto tax markup, per Bloomberg.
Phones face-down, grill fired up, cold ones in hand. No candles, no charts, no cope this weekend. The market will still be there Monday β my ribs won't. Priorities.
Wild seeing Amodei, Altman AND Musk actually agree on something. When the guys racing to build the most powerful AI say "maybe pump the brakes"... yeah, that tells you everything. Are we finally taking safety seriously or is this just PR? #AI
i am begging you, PLEASE make a genuinely high quality game that incorporates crypto.
not a token with a game duct taped to it. not another idle clicker. not some shit i play for 4 days because thereβs an airdrop.
give me a game i actually WANT to waste 6 hours a day on.
give me insanely rare items to hunt. real progression. difficult grinds. player trading. an actual economy. items that people give a shit about owning.
then build aggressive burn mechanics into everything.
crafting burns items. upgrading burns items. rerolling stats burns items. entering certain areas burns resources. repairing gear burns resources. prestige burns shit. make the economy constantly consume what players are producing instead of infinitely inflating until everything is worthless.
i want to log in every morning wondering if today is the day i find some 1/1000 piece of shit that makes me lose my mind.
crypto should make the game MORE interesting, not be the entire reason the game exists.
is WEB3 gaming really too much to ask for?
The best way to build an L2 is to lean into the L1's offerings (security, censorship resistance, proofs, data avail...) more, and reduce your logic to just being a sequencer and a prover (if based, just a prover) over the core execution.
This is the combination of trust minimization and efficiency that the 2010s enterprise blockchain crew wanted, but was never able to achieve. Now, with Ethereum L2s, you can achieve it. And we've already seen successful examples of the L1's features protecting users' rights if something on the L2 goes wrong.
Every stablecoin that gets institutional rails feels like another quiet brick in the bridge between old finance and whatever we're building. fUSD joining Anchorage isn't loud news, but the loudest shifts rarely are. Where does this end? #stablecoins