1/3 Our Stamps Protocol Update [December Release] is available on our website now. We hope you enjoy the previous month's performance in chart visualizations.
Counterparty Core v11.1.0 is activating in less than 3 days (952500)! 🎉Upgrade your node ASAP! ⚙️ (It should be completely straightforward.) Headline features:
- AMM liquidity pools
- Indefinite DEX orders
- Better Ordinals inscription metadata support
- More robust UTXO selection for compose API
- Tons of bugfixes and QoL improvements
Release notes
https://t.co/rQjhcZ6kMQ
Happy to announce another paper accepted to Crypto '26- our work on impossibility results on adaptive security for a wide class of threshold signature schemes. Our results apply to NIST efforts for standardization of threshold signatures, and give bounds on the conditions which threshold signatures can be proven adaptively secure. This is joint work with Elizabeth Crites, Mary Maller, and Michele Ciampi.
https://t.co/t3MWYHtejr
In this work, we develop impossibility results that classify the conditions under which threshold signature schemes can achieve non-trivial adaptive security. As a reminder, adaptive security models an adversary that can adaptively corrupt threshold signature participants throughout the lifetime of the protocol, instead of artificially fixing the set of corrupted parties at the "beginning of time."
We introduce the notion of a "key-unique" threshold signature, and show that this classification is fundamental in determining the assumptions under which adaptive security can be proved. We give two results, one for any key-unique threshold signatures in general (including BLS, ECDSA, and EdDSA), and the second for threshold Schnorr signature schemes, and we show how our results apply to a wide range of existing threshold signature schemes.
Our first result shows that no key-unique threshold signatures scheme can be proven secure under computational or decisional non-interactive assumptions. Our second result shows that for key-unique threshold Schnorr signatures, reductions must be straight-line (i.e., common rewinding techniques are not possible to prove security).
This was a fun paper to work on, and I feel lucky to have had such excellent co-authors in this effort!
A Strategic Update for the $STUFF Ecosystem
On July 3, 2026 (Epoch 641), we will begin sunsetting the $STUFF Stake Pool.
When we launched the pool, it played an important role in helping grow and reward the community. Today, @book_io and @stuff_io are entering a new phase, and we believe the strongest path forward is to focus $STUFF on utility, demand, and ecosystem growth rather than token emissions.
As a result, we have made the decision to discontinue bonus $STUFF rewards through staking.
If you currently delegate ADA to the $STUFF Stake Pool, please be sure to redelegate to another stake pool before July 3rd.
Any unclaimed rewards will remain available through the normal claim process. We encourage all delegators to visit https://t.co/ir4iK7jUh9 and claim any outstanding rewards within the next 60 days.
Most importantly, this is not a step backward. It is a step forward.
Our focus is now on building real utility and real demand for $STUFF through products, commerce, and platform growth. We are moving aggressively toward bringing more than 12 million print books to @book_io, creating one of the largest book marketplaces in the world. As those sales grow, a portion of net sales will be allocated toward purchasing $STUFF.
We believe the future value of $STUFF should be driven by adoption, customer activity, and ecosystem growth. That is exactly where we are headed.
To help make this transition as smooth as possible, we will be publishing a detailed FAQ and stake pool wind-down guide at https://t.co/RSwXNUwZCx in the coming days.
Thank you to every delegator who supported the pool and helped us build the foundation for what comes next.
The mission remains the same. The vision is bigger than ever.
Own Your $STUFF!
Unfortunately, there is a hack related to @gnosispay and the "delay module".
Please be patient while we try to contain the damage. Rest assured, Gnosis will cover all user losses.
Aggregate Ethereum client diversity: 'no client over 55%.'
The view from an average Besu node on our fleet: 75% of its 24 peers are Reth.
A 12% slice of the network becomes 75% of one node's reality.
Over the next couple weeks I've got several pieces forthcoming that you can be on the lookout for:
A pair of book reviews @LibertarianInst and @QuincyInst
One @mises on the "neo-primes" of the MIC
One @MoneyMetals on the relationship between militarism and sound money
Fun fact of the day:
If you don't think inflation has been the biggest problem in the world over the last century, you have been miseducated by people who get paid by inflation.
The Fed printed trillions, inflation surged, and the yield curve inverted for the longest stretch since WWII.
So why didn’t the economy break harder?
In the latest InFi Podcast, Dr. @BobMurphyEcon digs into the overlooked role of the Fed’s reverse repo operations, and why they may explain one of the biggest post-COVID market puzzles.
Worth the full listen👇
https://t.co/FzbFgmdbKy
#Fed #Inflation #Economy #Markets #Investing #Macro #YieldCurve #Finance #MonetaryPolicy
The age of one-time token due diligence is over. A given "token" can easily involve 300+ changing contracts.
We've built a balance sheet graph for every token, so you can see all protocol/token dependencies and then model economic and operational risks.
Can government policy replicate a market economy and improve the outcomes? That is the subject of the book, Moonshots and the New Industrial Policy. @MatthewsLipton takes a deep dive into these questions.
https://t.co/HhirWuUJDz
Syndicate Labs is winding down.
After five years building onchain developer infrastructure, the rollup market has fundamentally shifted, making this decision necessary.
Here's what this means for the network, token holders, and developers building with Syndicate.
New post on https://t.co/j5UaKGaEf3!
RANDAO Breaks at L*: A Post-Quantum VRF for Ethereum
By:
- arianaraghi
🔗 https://t.co/vcWZn45R4t
Highlights:
- EIP-7998’s BLS-based VRF-style RANDAO upgrade will fail at milestone L* because BLS keys are retired and there is no replacement for `randao_reveal`; a migration is required, not optional.
- The most dangerous period is the hybrid I*→L* window: BLS public keys are already on-chain, so a cryptographically relevant quantum computer could recover BLS private keys (via Shor) and bias today’s RANDAO unless a post-quantum contribution is added earlier than L*.
- Prior XMSS/WOTS+-based “X-VRF” approaches are fundamentally broken (FC 2024 shows WOTS+ is not unique-signature in the needed sense), and using leanSig signatures directly does not provide VRF uniqueness; uniqueness must not depend on WOTS+ chain behavior.
- The proposed fix is a PRF-commitment VRF: derive `vrf_sk` from the validator’s leanSig seed via domain-separated Poseidon, compute output `y = H(vrf_sk, x)`, and include a standalone WHIR proof in the block that `pk_vrf` and `y` were computed correctly—uniqueness reduces to Poseidon collision resistance, not signature uniqueness.
- Protocol plan: activate at I* with a 3-phase `process_randao`—(0) pre-I* unchanged, (1) I*→L* XOR BLS contribution with PQ VRF contribution (secure if either is secure), and (2) post-L* PQ-only; costs are ~81 ms proving for proposer, ~19 ms verification per block, and ~116 KB proof size added to `BeaconBlockBody`.
ELI5:
Ethereum needs a fair “random number” each block (RANDAO) for things like choosing who gets to propose blocks. Today that randomness relies on BLS cryptography, but Ethereum plans to retire BLS at a future milestone (L*), and also BLS could be broken by future quantum computers. This post proposes a new way to generate and prove the randomness using only hash functions (which are believed to be safer against quantum attacks) plus a zero-knowledge proof that shows the proposer computed the value correctly. During a transition period (I* to L*), Ethereum would combine (XOR) the old BLS-based contribution and the new post-quantum contribution so randomness stays secure even if BLS gets compromised.