EigenLayer raises $50mil, Private multisigs and more - The Daily Gwei Refuel #558 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of daily gray refuel where I recap the latest news in ethereum ecosystem I'm your host Anthony 30th of March 2023 alright everyone let's get into it so apologies for missing yesterday's episode everyone just unfortunately ran out of time to record one but of course I'm back today and we'll be covering the last two days worth of news so let's jump into it uh so the official announcement about the Chapala I should say hard fork or network upgrade here that enables withdrawals on the ethereum network was put out uh by the ethereum foundation you can go check out the blog post for yourself of course it's got relevant links to everything that you need including client releases and just a reminder for those who haven't upgraded yet uh be sure to do so before April 12th because that is when the upgrade is

uh scheduled uh and if you don't upgrade you'll be left behind and your validators will start will technically be offline if you're a solo Staker and that means that you will be uh you will get attestation panel uh not penalties but we'll miss out attestations and of course you'll get an activity leak because of that now uh I believe the rocker pool upgrade if you're running mini pools is going to be out shortly uh uh definitely before chappella from my understanding so nothing to do just there just yet but yeah if you're a solo sticker be sure to upgrade and if you're just running an ethereum full node you need to upgrade as well and remember you need to upgrade both your consensus layer clients and your execution layer client which as I said are linked in this blog post and very close in the

hour 30th of March so just about 12 days I believe uh about 13 12 13 days until this goes live uh which is really exciting considering that uh it's already been almost seven months since the merge for anyone that hasn't been keeping track yeah it's it's already been almost seven months since the merge uh and I remember I did say that after the merge we would have this Fork happening within six to 12 months I gave quite a wide range because because traditionally with ethereum network upgrades they take longer than we expect but it seems to be almost right on target I think they wanted to do it in six months after the merge and we got it done in in seven so a vast improvement over other over the timing of other network upgrades which is very promising

for the future upgrades coming such as a Cancun which includes Erp 4844 if we can get that delivered you know six months after after chappella here it means we'll get it delivered this year uh which is obviously super exciting so I'm rooting for that of course uh but yeah as I said you can go check out the blog post for yourself and upgrade your nodes if you haven't yet uh speaking of withdrawals Terence from the off-chan labs team here the one of the developers behind the prism clients put together a thread where he said ethereum validator withdrawals when to submit in this thread we'll go over when is the best time to submit your validator withdrawal given various conditions now I did speak about that tool the other day that or a couple days ago that Beacon chain has

out that allows you to basically submit your kind of withdrawal withdrawal change withdrawal credential change I should say and be part of a batch that hopefully gets included within the first block post chappella so that in case your credentials were compromised or your seed was compromised or anything like that you are able to change it before that attacker does being able to change your withdrawal address before the attacker does so Terence talks a bit about that and this thread which you can check out in the YouTube description below uh Beacon chain the vegan chain website has a bunch of changes that they've made that they've listed in this thread here uh one of those changes was that tool that I was talking about and there's also more notification options for validators I actually use this and it works really

well whenever I get the block new block proposed notification I get obviously super excited about that and I'm like oh okay and it tells you the amount that it's proposed for as well which is which is super exciting um but yeah if you're wondering what new features they have you can go check out this uh this thread here and on top of that I hear that they've got like a new version of the website site coming out soon I'm not sure if I've covered on the refill before if it's been teased before but uh yeah that that's hopefully coming out sooner rather than later which will make the website the app and the interfaces a lot better from from what I hear but yeah you can check out the improvements uh in this thread which I'll link in the YouTube description below uh next up we have something that

I wanted to spend a few minutes talking about because I've had an experience with this recently so the ethereum on arm Twitter account uh uh announced that they have just gotten an orange Pi five in sync with Geth and Lighthouse uh and this is the hardware that they ran and orange Pi 5 16 gigabyte of ram Edition uh sync time was 27 hours the database size is just under a terabyte uh and this device um sorry the device as the board costs 139 euros here uh not including obviously a disc I believe that you'll have to buy that separately uh but yeah that's that's pretty good I mean 139 euros for uh you know and only one device here that includes 16 gig of RAM

and then you buy an SSD maybe it's a two terabyte SSD not sure how much those are in the US and I don't even know the prices in AUD right now uh but they're not that expensive anymore and I'm talking about nvme SSD that you can kind of plug in uh and then run that here now this is really cool uh just another low power device that's able to run an ethereum 4 node and validators but the reason why I thought it was topical talk about was because I've had an experience lately which I want to share with with you guys uh regarding a low powered device so you guys know I got the Proteus device uh that Orange Box a little orange box with the daily gray um face plate on it that I posted to Twitter before and that box is basically a rock 5B board uh that's been

pre-loaded with an image that allows you to easily set up a rocker pool node now what I've done is and it's an all-in-one device it includes um solid state drive and all the good stuff that you need there but what I've done is I've basically re-imaged it I put on a fresh uh kind of um image of of um Ubuntu server and then I've installed uh um I've installed solo validators on there and it is the box that I'm using to stake my retirement funds on now I've been doing that for a little while and then and just recently what ended up happening was that I was noticing uh that my retirement fund validators my solo validators were randomly missing attestations and for the life of me I could not figure it out like I tried so many different things I was looking at

the firewall stuff just general networking things I was wondering if there was kind of a problem with my ISP but it wasn't happening on any of my other boxes it wasn't happening on my solo box or my rocker pull box so I was okay maybe it's got to do with the Proteus Hardware maybe after all this Hardware can't run validators as effectively as as other Hardware can well long story short after doing all that troubleshooting I ended up figuring out that the issue actually lied within the unmanaged network switch that I was using uh that is a ubiquity device but it's one of their cheaper switches that I had just gotten for um uh for connecting devices that didn't require a lot of bandwidth to but in the mix and because I don't really keep as

good of a track of what's of my networking as I should have I and inadvertently connected my Proteus box my rockable Odell box and my archive node box to the same like little shitty unmanaged switch and it was overloading the poor thing right because you you can imagine the amount of bandwidth that three elcl combos is taking up it's a lot um just to give you some context here I have four total El CL combos going so I have my Proteus Morocco pool blocks my archive box and my solo box uh and it's using about 500 gig a day which is 15 terabytes a month and that's not including the rest of the the stuff on my network obviously all the other stuff that's going on all the Wi-Fi devices everything like that so it's using a lot

of bandwidth now I was feeding three quarters of that into this one little switch so of course I upgraded the the switch to a to a much better one uh and it and it's been fine ever since it wasn't the appropius box and the produce box has actually been incredible in terms of resiliency and and now that it's uh it's it's all well and good with the bandwidth issues it is at 99 Effectiveness uh getting 100 is is always going to be very very difficult for a variety of different reasons but it is at 99 and pretty much 99 of my attestations now have a zero inclusion delay and I'm missing any attestations at all so just like a tldr there on my experience with low powered Hardware not this device exactly that's on my screen but a rock 5B board that I've discussed

before uh it worked really really well uh and uh it's worked well ever since I fixed that issue a few days ago and as I said I haven't missed any attestations and it's so awesome because the box is literally sitting in front of me on my desk right here this little box it is honestly so small guys it could fit anywhere it could be mistaken for a um a little network streaming box or sorry I should say streaming boss like an Apple TV or something like that it's not as small as an Apple TV it's maybe double the size height wise uh but yeah it's super small and it's just sitting there it's just got USBC uh Power uh running to it with an ethernet cable and that's all that's plugged into it and then I can SSH into it on my on my home network

and manage it all through that and as I said it has been amazing the only thing that I could possibly knock it for is that it takes a little bit longer to upgrade because I recently did the upgrades for the chappella fork a little bit longer to upgrade and and make the software than my solo box but my solo box is completely Overkill it's got high-end Parts in it and it's not that much faster uh so so yeah I mean but everything else works fine I've rebooted it a bunch of times it automatically uh spins everything back up again my validators my full nodes and everything and it runs perfectly fine so if you are in the market for uh you know a a hardware to be a rocketball mini pool on or to solo validate I would suggest seeing if you could get your hands on a

proteus for rocketpool mini pools because it comes pre-loaded with everything you need but if you want to put Solo validators on it you can buy a rock 5B board and do it all yourself and get really get really um into it if you'd like or you can buy an orange pie five as well because that apparently uh works for this too but that was just my experience with things just really funny how it was the switch in the end because I was actually working with um with age Manning from the sigma Prime team he was a Champion by the way like he he I kept annoying him like every day I'm like dude like I don't know what's wrong about and he was giving me all these troubleshooting steps because I was I'm using Lighthouse uh the client on there uh and yeah he was telling me all this

stuff and I learned a ton about things and we just couldn't figure it out and then eventually I'm like hey man like uh yeah it was it was the switch and then he's like oh geez that was like you know it's not something you think of really that uh that that's an issue there but it was and I don't think it was the switch itself that was the issue I think it was the fact that I was just overloading it with with a huge amount of bandwidth and it just the poor thing couldn't handle it right but anyway I'm gonna leave that one at that just a little story that I figured was worth sharing with you guys uh from my experience because I'm running a lot of different uh software right now for validating on a lot of different clients my network I'm lucky that I have a

gigabit internet with unlimited data so I can do all this and not have to worry about that but of course you need to make sure your networking gear is up up to scratch and it is now um the rest of my network works perfectly fine as I said my entire network is running on ubiquity gear which for those of you who don't know what that is it's high-end networking gear it's really friendly to use it's got a really nice interface it's not like your classic router interfaces that you make that you may be used to that like really suck and are just really Bare Bones uh the they call it the unify interface is really really good so not not trying to show you on or anything I'm I'm not paid by ubiquity Shield but it is very great networking uh gear once you've got all the right

parts and you're using it uh correctly but anyway moving on from that last subject on on ethereum staking uh Seawolf which is one of swell's um uh test Nets has gone live on girly you can now test swells new architecture and see the Slick new interface in action and there's a how to participate article uh that they've put out here it's very short and it's got links to everything you need and then they've also asked when mainnet are they expecting mainnet to go live in April 2023 of course so right around the time when withdrawals are live so just a shout out there about swell you can go check it out for yourself it'll be linked in the YouTube description below all right so a big announcement out of eigenlayer so they have announced that

they've raised a 50 million dollar funding around a series a round LED by blockchain Capital with participation from a bunch of other funds and VCS here now of course I need to disclose that I participated in this round but any of you guys who have been hearing me talk about eigenlayer for many months now would not be surprised by that because I I do believe eigenlayer is a really really Innovative and cool product uh that's uh that's coming to the ethereum ecosystem now I know that there are certain views on this and there and there are people that I've spoken to a few of them at Eve Denver that have reservations about eigenlayer uh and and and for multiple multiple different reasons and I totally kind of understand that I totally understand the reservations here uh but I look at this

and I'm like you know what I think this is a really cool novel thing that I want to see built within the ethereum ecosystem if it works as advertised great if it doesn't work well at least we tried I'm all for experimentation you guys know that I love experimentation uh within the ethereum ecosystem even if an event if um it doesn't end up being anything uh serious down the line it doesn't end up actually working now of course I don't believe that about eigenlayer I believe that what they're building is going to be a really big part of the ethereum ecosystem with with restaking with being able to spin up our various different Services because of that you guys know I've talked about being able to set up really cool data availability committees uh Oracle networks uh any any kind of thing that needs security and that doesn't want to

have to bootstrap it itself and can get that security from uh restaked eat for example I think is very cool uh but uh but yeah I guess congrats to eigenlayer on this round really really great to see that they were able to raise you know a lot of money in a bear Market to be fair right this will give them a ton of Runway to execute on their Vision here and it's it's funny because eigenlayer it's not new now I guess but it is relatively new on the scene it's obviously not live yet it's obviously a novel idea and something that has been in research and development phase for quite a while but in terms of the project actually being very public that's that's relatively new as well and I think that with this new round of funding they're going to be able to hire

the people that they need to hire be able to get uh to get to mainnet earlier than they uh otherwise anticipated and they've got a lot of really cool people and firms helping them out as I said there are a bunch of of firms that uh that participated in this round and there are a bunch of Angel Investors as well alongside me some really cool people like timbaiko and Victor bunin here as you can see names and there there were a bunch of others but they're not named here so I'm not gonna I'm not gonna name them of course but there were a lot of people uh that were part of this round and um and that they'll be able to help eigenlayer with whatever you know skills that they have there so so yeah I guess once again congrats to eigenlayer on this raise uh and I can't wait to see

them build out their protocol all right another I guess uh protocol that raised uh recently that I thought was really interesting that I I wasn't a part of this round just a disclosure there as well but uh they're called conduit and now they raised and announced themselves at the same time so what conduit is is basically they're calling themselves a crypto native infrastructure platform uh you can launch a roll-up in just a few clicks using the op stack now I've talked about a few of these Solutions before such as stacker Network and a sovereign and uh and a few others out there that basically allow you to spin up a roll up relatively quickly and essentially spin up a roll-up uh uh as easy it is as easy as it is to to spin up any sa20 token

for example right uh now as I said this is built on the op stack uh powered by optimism of course and it's already live on mainnet and you can already use it this is not something that is coming in six 12 months this is something that can already be used by anyone developers uh hobbyists whoever wants to use it can can use it now I did mention that they raised as well they raised a seven million found led by Paradigm with a participation from a bunch of other investors of course uh but but yeah this is very cool because as I say here the conduit op chains are secured by ethereum uh operated and maintained by a conduits team of professionals and they come equipped with block explorers transaction traces Auto scalable rpcs and and more here

um and that it'll be integrated into the optimism super chain uh with Roll-Ups like bass you know I've talked about optimism super chain before where essentially they want to make like a an ecosystem of different op chains that all talk to each other as part of this super chain uh all secured by ethereum and I think that something like this was obviously needed uh on top uh for that Vision to be realized because if people are going to build their own application specific chains and they're going to use the op stack to do that well you need to make it as easy as possible to do that and that's exactly what conduit does here and this got me thinking as well because uh remember how dydx actually said that they I wanted to have more control over their I guess roll-up and

they wanted to be able to decentralize it and stuff like that and they weren't able to do that at the time with Star Quest technology and now they're doing a cosmos chain well I mean now they can do do it with an OP chain with conduit right they don't even have to really do anything and and their Cosmos chain as far as I know isn't going live uh until the end of the year and I shouldn't say Cosmos channels should say the kind of Cosmos SDK tender mint chain but from what I know it won't go live to the end of the year whereas um they could get it up and running with conduit uh in a much shorter time frame from from what I can tell here uh and I'm sure someone will do that not deal idea specifically but someone will do a similar kind of perp

exchange uh uh on on the op stack here um and don't and and don't and I guess like on that note as well uh don't uh be be kind of like fooled this is a competitor to the cosmos ecosystem I think Roll-Ups in general are competitors to layer ones on the execution side of things but in term terms of actually competing directly with an ecosystem well the cosmos ecosystem is all about having app chains uh specifically Sovereign app chains which I'm kind of bearish on generally I don't think that most applications or pretty much all of them need sovereignty so this is a um this is a competition to that in competition to that basically where you can spin up these conduit chains they aren't uh fully Sovereign

like you would get from a cosmos chain but as I said I don't think most things need that uh they're secured by ethereum they use uh battle tested code base like op stack and they allow for the instant plugable plug ability into the optimism super chain which can benefit from shared interoperability with other ecosystems such as base such as the optimism Network which is obviously very very cool but anyway enough on conduit you can go check them out for yourself I'll link their thread in the YouTube description below right speaking of l2s bar Tech has put out a thread where he says big congrats to polygon for launching their zkvm here are a few things that you may assume about ZK Roll-Ups but you will find here different and should be aware of so

basically uh your existing knowledge of ZK Roll-Ups may not apply to polygons ZK evm and bartek did this thread to make sure that you basically know uh the differences there now the thread also links to a few of different a few different things which of course I'll link in the YouTube description below uh but it's obviously using the l2b website here to make sure that it's all documented and recorded using their little rosette feature that I covered the other day and also their more in-depth risk analysis so I just wanted to hide that for you guys to check out I'll link that in the YouTube description below all right so something I came across from the general General Galactic corporation uh they've launched

something called a sky teller in Alpha so apparently the way this works is that skyteller will allow you what gives you a bank account and eat the dress and lets you cash out your crypto directly to your uh bank so skyteller is your personal off-ramp that's easy to set up uh reasonable with kyc super easy to use and Us only for now so uh if you go into this to the website here you can kind of connect your wallet and get started as I said it's us only right now basically what's what skyteller from my understanding is trying to do it's trying to make the process of on and off ramping from the Fiat World from the traditional Finance world as absolutely seamless as possible and is integrated within the crypto D5 ethereum D5 world

as possible so that essentially you get a very similar experience whether you're interacting with ethereum D5 and ethereum on chain stuff and um and the traditional Finance world this is what we need more of now obviously it's going to have its own I guess like drawbacks in that you still need to do kyc right you st you're still at the mercy of the banks themselves and the traditional system itself they can still I guess rug you for whatever reason they want to it's not decentralized obviously but at the end of the day as long as I think it's a step above what we currently have it's something worth paying attention to it's something worth putting your weight behind and that's exactly why I have highlighted it on the refuel now you can go read more about them uh in on their website of course they've got uh an FAQ

here I believe down the bottom I remember seeing it no somewhere there it's somewhere on the website I was playing around with it the other day uh where you can learn more about this but as I said it is an alpha so be sure that you keep keep that in mind when interacting with it but just another really cool tool to bridge the defy and traditional Finance systems all right now something very very cool that I came across and I actually shared this in the daily word Discord channel was something built by bankerson here which is the first version of that something they're calling uh ZK Shield which is a private multi-sig with hidden owners under the hood it uses account abstraction and zero knowledge proofs to keep the signers from being exposed on chain now I spoke about this a few days

ago if not last week about how when you set up a multi-sig you the you typically know who's on that multi-seek in terms of the addresses obviously if the address hasn't been docked you won't know who the person is but you know the address is here well with this new tool the ZK Shield tool that has been developed you no longer know that uh as I said it is now fully private there is no um signers that are Exposed on chain as part of this multi-sig uh this private multi-sig this is huge guys like not just huge from a kind of privacy perspective but huge from a security perspective as well because it means that even if you know that something is a multi-sig say something is protected by a multi-sig

you will you don't actually know who the sign is are right now of course you can say who the signers are you can say that the publicly okay the sign is that this this and this person but you won't be able to map those people to an address right to it to a multi-seek address so uh I I think honestly overall it increases security all of multi-zigs like this and it also makes it easier for everyday people and makes it more worthwhile for them to set up multi-cigs because as I spoke about in relation to vitalik's blog post where he basically said uh well he's read it post where he basically said that he thinks that multi-cigs are the most secure way to secure your assets if you want to have a

multi-stig with say your one of your parents maybe uh your best friend and and maybe well you know one other person that you trust none of them will be able to see who the other signers are and it will only be you that knows it so that solves that issue of having to trust that these other people won't collude with each other who just simply don't tell them who who you don't tell um them who they are and then it's all well and good right unless they somehow figure it out in another way but it increases security there and that's what got me really excited when I saw this I was like okay wow this is this is really good for that use case in particular so you can go check this out on GitHub for yourself I don't believe it's live or anything as an app as an app uh online

yet I think you can run it locally or something like that and it's still obviously very early estate early um stages here but it works from what I can tell so very very cool um and uh and and thanks to bankerson for developing this and putting this out there I'm going to keep be keeping an eye on this myself all right so uh something called the 4626 Alliance has been announced now this Alliance is uh basically uh uh being uh stood up to lead uh his initiative that's been stood up to advance the development of the ERC 4626 standard now the alliance has a bunch of different members from the default ecosystem a part of it such as a balancer uh Maple Finance

um M stable uh Aztec network uh this there's a alchemics there's a bunch of different logos here that you can check out but the fc4626 is uh one of the the uh the coolest standards within D5 because it's the standard for tokenized vaults which is what a lot of D5 uses for things like yield generation right and you can check out erc4626.info for more information about the alliance itself and more of the members and funds that they've raised and how they're actually uh how 4626 is supercharging the default ecosystem and how they're all working together the websites actually a pretty information dense and you can get a lot of information about it here with a bunch of news and things as well so I'll link that in the YouTube description below

but great to see this uh great to see that there's more initiatives more alliances being stood up within D5 with all these different protocols I think that D5 as I've said plenty of times before on the refuel it's kind of like a thing that is there we know it's going to be big but it's not very exciting for most people and I've said I said this a long time ago on the refuel uh basically in the earliest days of the refuel where I said that D5 is going to be the biggest use case for ethereum for crypto but it is going to be one of the least exciting ones so after the the initial D5 summer happened since then uh D5 hasn't really been viewed as an exciting thing because it's really just core infrastructure that needs to be built to enable so many other things right and

because of that and you basically have this ecosystem that's built on the kind of ground floor that everyone uses but they aren't necessarily excited about which I think is a healthy thing I don't there's anything wrong with that but that doesn't surprise me at all and this is one of those things right no one's excited about it 4626 Alliance because they can't really speculate on it right uh and it's something that seems relatively boring but there's going to be a lot of people that use this because they want the yield they want to play around with these protocols they want to use them they want to make money and that's enabled by things like this by like these alliances so I mean I'm personally excited about it but people don't get excited about defile like they do nfts right for example and as I said

that's totally fine but anyway you can check this out I'll link it in the YouTube description below all right last thing I wanted to talk about was a reply um that I gave in a thread here about uh layer 2 fees now I'm talking about this because someone in the daily grade Discord Channel wanted me to talk about it but basically uh someone asked me why do you think eip4844 is a good upgrade for eth when it reduces eth value accrual and gives l2s a free ride on ethereum security don't you think each Staker should be compensated for their risk slash service and I replied by saying because if ethereum doesn't scale then nothing else really matters right also I don't think l2s are free writing their data will expire after a month and if they want to keep it they'll have to

store it themselves most of each value accrual does not come from fee Revenue in my opinion now there are three statements there I'm going to break each one down the first one me saying if ethereum doesn't scale then nothing else really matters I mean that that I think is pretty obvious to everyone at this stage it's all well and good for ethereum to be valuable and for each to be valuable based on things like being a story value and stuff like that but ethereum as a platform is not like the Bitcoin Network the Bitcoin network doesn't want to really do anything else or at least most people don't want the Bitcoin Network to do anything else except secure BTC there are some things that are happening on there with Taproot and the ordinal stuff but really not no one or most Bitcoin is do not want

Bitcoin the Bitcoin Network to be anything like the ethereum network um and and you know that that uh in any aspect in in aspects of executing complex transactions and scaling and all that sort of stuff uh whereas ethereum is totally different ethereum needs to scale and we are scaling don't get me wrong obviously we're scaling but if it doesn't scale then I don't think anything else we're doing matters it doesn't matter how cool we make proof of stake doesn't matter how cool how much value we we um how much value capture or how how um good we design eth is a value capture a token none of that matters right scaling is what matters I think pretty much like as the number one thing at least for the foreseeable future so hopefully that I think is relatively obvious uh the second statement I said here I said that I don't think L2 is a

free riding in a post erp4844 world because their data will expire after a month now with 4844 it introduces a new transaction type called blob transactions and that effectively replaces call data and it will be where the Roll-Ups store their cool data on now it's not stored on ethereum layer One Forever it's not stored on the the full nodes forever it's only stored for a month and if if you want to keep that data longer than a month what you have to do is essentially download it yourself right you can store it yourself anyone can store store the data themselves or the l2s themselves have to store it if they want to to access it as well that means that they're not free riding they're actually they're actually getting like a kind of a trade we're basically saying to the l2s hey you can

have really you know really cheap transactions and really cheap block space on ethereum but we're only going to give you that for a month and then after a month your data needs to be stored by you if you want to keep it so I don't think there's any free writing Happening Here really it's just a it's a it's a kind of trade right it's a it's a mutual trade I believe in terms of giving the L2 something that they want and then saying to them but but there's like an asterisk there we're not going to store the data forever because that would obviously bloat the chain and make uh and and and the costs of people running full nodes uh would be would be greater than what they are today and that's part of the trade-off space there so that's why I don't think they're free

writing and then finally I said I don't believe most most of each value or cruel comes from fear of a new and I've said this multiple times on the on the refill before even though I'm super excited about erp1559 and deflationary Ethan I'm always very excited to see that the ethereum blocks that ethereum block space is being used and people are paying for it that's all well and good but primarily I believe its value comes from being a store of value and uh accruing monetary premium Now obviously um the fear of a new can feed into that it can make it more valuable but it's not the primary driver of that and I think it's used as collateral within D5 ethos's money uh ethuses as a staking asset those are all above in in terms of my list right number one story value two

monetary properties three collateral four I guess its use is money and then five would be fair of a new maybe four and five can be switched but generally that's why I don't believe I I don't believe that most of each value accrual comes for it from its use as a fee token and I believe that the burn and deflationary eat is really just a bonus and and all and what it does is it makes uh it creates a symbiotic relationship between uh the people who use the network and people who secure the network the validators and which are etholders obviously as well so that's how I view that um but yeah I could go on about this for for a lot longer but I've gone over time here so I don't want to don't want to kind of bore you with the intricate details but that's how I view these

things uh and and hopefully that was uh that was a good breakdown for Tiki torture I believe uh in the Discord Channel who asked me to cover this so yeah anyway on that note that's going to be it for today's episode so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone