ETH futures ETFs approved, Dencun updates and more - The Daily Gwei Refuel #664 - Ethereum Updates

29 Sept 2023 · 31:46

Anthony Sassano, Ethereum educator and co-founder of EthHub, runs through the day's Ethereum and crypto news on this episode of The Daily Gwei Refuel. Topics include regulatory approval for ETH futures ETFs from Valkyrie and VanEck, Coinbase's approval for retail perpetual futures trading, progress on the Dencun upgrade and the Holesky testnet, and Intmax's walletless wallet built on homomorphic encryption.

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Transcript

hello everyone welcome to another episode of delway refu where cup latest news in the etherum ecosystem I'm your host and and to the 29th of September 2023 all right everyone let's get into it so yesterday of course I discussed how I was fished out of my op tokens spent a lot of yesterday's episode discussing that actually and that led to a lot of good discussions that happened today across Twitter uh farcaster and the daily way Discord Channel now these discussions mostly centered around how to prevent this from happening for other people that was the whole kind of point of my story the reason why I kind of told the whole story and put myself out there was because that if if I can prevent even just one person from getting fished um either you know similar way to what I did or in in in a

way of just improving their security posture then it's worth it for me and I I really hope that telling my story yesterday made everyone take a a better look at their security practices but there was this great video that Tim Robinson posted in the daily grade Discord Channel and then shared on Twitter showing the differences between metamask and and rabby which is another browser extension wallet here so you can watch this video for yourself it's about 5 minutes long the first half goes over what it looks like with metamask and we all know what it looks like with metam mask when you go to confirm transactions and things like that so I won't I won't kind of showcase that but then he does it in Rabbi and rabie is Miles better than metamask at warning you about things there was I believe uh Tim said

here a total of six warnings uh and you can't really see them on my screen but you can see them in the video if you watch it yourself there was a total of six warnings that rabie uh throws up at you to basically tell you hey you're doing um you know you're you're approving all like in this instance you're approving all the op tokens to this fishing uh contract to this contract that looks dodgy right or hey this contract has hasn't had many interactions with it it's new you know all those kind of heris STS that you can use to to understand that you might might be interacting with something that you wouldn't otherwise interact with but metamask doesn't actually show any of this really it has limited kind of security warning so I think you know in the past I've said that the I I I still

use metamask and I use metam mask as like a pass through for for Hardware wallets but I also use metamask with a bunch of different different hot wallets that have basically no funds in them they have like $20 of gas in them U and that's because I I use them for various different reasons I think there's at least 20 of them that I still use and that's the reason why I still use metam mask honestly is because I don't want to change over to another wallet and have to import all those wallets in I do not want uh to uh mess around with SE phrases or anything like that uh for obvious reasons so I'm just using metam mask with those addresses but uh because of that it means that I've just been using metam mask as my daily driver because sometimes if you have multiple

extensions installed actually a lot of the time if you have multiple wallet extensions installed what ends up happening is they conflict with each other and then you just end up getting a lot of errors and and annoyances that kind of pop up there so I just defaulted to continuing to use metamask especially because as I explained yesterday I had L lulled myself into this false sense of security where I was basically like eh it's fine I don't need these security warnings well no I was humbled definitely even if you think you're super experience these security warnings are really really helpful and you can see that in this video that Tim made so crudos to him for making this video you can go check this out but essentially I would say that at this point in time using metamask uh especially if like you're you're using it as like a new

wallet probably isn't a good idea there's other wallets out there like rabby and rabie isn't the only one there's other ones out there that have just so many more features and SEC and specifically security features that using metamask uh really feels like you're using something from the Stone Age to be honest now in the past I have said that metamask is obviously the wallet that's been around the longest it's probably the most reliable uh it's probably the most secure from a wallet perspective in that there's probably minimal chance of bugs just because it's been around for so long uh and these newer ones obviously have higher chances there but if we're talking about actual kind of security warnings that get thrown up uh metamask is not good in that department at all uh and I think that a lot of the time when people get

fish it's it's through metamask honestly um and then as I said in the video Tim shows shows rabie and how it throws up All These Warnings uh and those those warnings can be very very helpful now I did discuss in the Discord Channel today that um I don't know the scary thing is that I don't know if these warnings would have stopped me uh to be honest maybe they would have it's kind of hard to prove it because I can't go back in time and and use rabby instead of metam mask but the reason why I said that was because as I said yesterday the way I got fished was the human element where essentially I wasn't paying as any attention and just confirming everything so I kind of think to myself would I have even paid attention to the warnings maybe I would have right maybe the

warnings would have uh because they're flashing red at me maybe it would have kind of uh diverted my attention away from the other stuff that I was doing and actually made me pay attention uh but uh yeah I I don't know that for sure but in saying that I am going to try and begin the process of moving over to a different wallet and not using metamask anymore as I said I use metamask because of all those other wallets that I have that I use for various different things um but those things I can slowly phase out over time uh and and and definitely kind of replace that with with with a different wallet rabie looks really good I'm not going to recommend any one wallet but from the video rabby looks really good you should check out um some other ones as well that Tim has listed

here he didn't list Tahoe which I actually have installed you can see this little dog icon up here that's Tahoe uh which was renamed from from talho you should check out that one as well but yeah check them all out see what works best for your needs see and and the cool thing is you can just like start a new wallet and then just start interacting with things right even if you haven't got any eth in there you can just start interacting with random contracts and see what kind of warnings it gives you you know does it give you U um good detailed warnings or does it just give you kind of like high level warnings and then maybe you can make your decision from there but obviously always I I recommend Never Keeping any significant amount of funds and signific the word significant here is U is different for

everyone I mean significant in terms of like a percentage of your net worth right and what that percentage is is is really up to you but I mean for me personally I'd probably never keep more than a few percent of my net worth on on a hot wallet right and SLE e is not a hot wallet by the way but um I was using it as like a regular wallet so the terminology is a bit weird here but I consider I mean the the industry standard is that a hot wallet is something that is like a like a browser wallet um or kind of like a mobile wallet rather than like a hardware wallet that you have uh that you have to kind of like physically get and kind of plug into a computer and stuff like that right which has uh kind of um the uh the

signing key offline so to speak right um or in that kind of secure element and a lot of mobile wallets are making use of this as well now which is cool but when it comes to brows extensions they're definitely the the the least kind of secure here if you're using them as a hot wallet but then you can have cold wallets or I guess like Hardware wallets that that you are using as a regular wallet which is what I do with sassle Ethan which is what a lot of people do but then you can have wallets that you very rarely touch and that's true for me with my um my staking wallet right the wallet that I stake my E from and the and the withdrawal kind of address there uh that's all done from wallets that I barely touch right and that's obviously not a hot wallet definitely not uh but

yeah so in terms of like keeping funds in in a wallet that maybe you want to use for everyday spending it's it's it's it's it's kind of the analogy of you wouldn't keep your life savings in your wallet in your pocket right um You you keep your you a lot of it in the bank right and you you have um some cash on you and then obviously have a way to access that cash with with your card but your card has spending limits on it and this is where things like account abstraction comes into it where when you have a when we when when when it's built out more when you have proper account extraction wallets you can have native spending limits built in so potenti I mean I still wouldn't recommend this obviously but potentially you could have your entire net worth in your pocket but

because of those spending limits uh in order to change those spending limits you would have to have like a a a cold uh sign up like a hydro wallet sign up to change that um and and it' be a multisig of course obviously multis sigs are another solution here too but it' be a multisig of course and then those spending limits could be whatever you want them to be so yeah as I said like there's a lot of different options here and it's all about working out what what what works best for you but the general rule of thumb is that you should never have significant amount of funds in something that is easily accessible especially because with metamask when you when you kind of install it it just shows you your seed phrase on the screen and what a lot of people do is they

literally copy that seed phrase over to like a notepad file because it makes you U confirm that seed phrase later and if you do that and then like save that notepad file and then even if it's like got a password on it that's that's that's horrible security posture right there whereas with Hardware wallets the um the the seed phrase never goes online right the seed phrase gets displayed to you you write it down on a piece of paper I mean it can go online obviously if you or it can go on a computer obviously if you write it into a computer but the best practice is to write it down physically uh whe uh rather than writing it down on on a computer uh and then it just never touches it so that's obviously much more secure from that perspective there but anyway I've talked a lot about this

again but I figured it was very very important because as I said telling my story going over this stuff the whole point of doing it is to protect you guys from getting fish because honestly there is nothing worse than than losing money even if it's not like a significant sum for you there's nothing worse than losing funds to a fishing uh kind of attack like this uh especially in such a dumb way like I did yesterday uh I didn't like when it came to the money I was just like yeah whatever I more felt bad uh about the fact or I I was disappointed in myself that I fell for something so obvious and so stupid and as I said that was a humbling thing for me it made it kind of got me to to Really rethink my security posture here uh and yeah there was a lot of good

discussions that happened around this today but if you want to have more good discussions about this do join the daily way Discord Channel link is in the YouTube description below and the show notes if you're listening to the podcast of course uh there's a lot of great discussions happening in there and honestly I highly recommend it and no matter how good you think your security posture is it could always be better and plenty of people in the daily grade Discord channel are willing to help so yeah go go check that out if you haven't done so uh yet all right onto some more positive news so the eth Futures ETFs seems like they're going going to go live next week on Monday or Tuesday you can see here Elanor from Fox Business had a scoop saying that uh uh Valkyrie would start offering exposure to eth

Futures through its newly combined Bitcoin and ether strategy ETF which will as I said go live for trading I think on Monday or Tuesday and Eric ban is here who is a senior ETF Analyst at Bloomberg uh also said that van e uh which is a different kind of firm to Valkyrie here um I believe uh is it is no yeah it is different yeah yeah um they just put out their press release for the upcoming eth Futures e ETF and they now have a ticker for it so yeah the eth Futures ETFs are confirmed now what does this actually kind of mean like what is the implications here because some people will say and I've said it before where like the Futures ETFs are way less interesting than the spot ETFs and that's true but what the Futures ETFs do is that they pave the

way for a spot ETF because what I find funny is that the grayscale case versus the SEC the judge basically said to the ACC like you have no good reason to deny the grayscale conversion of their trust to a BTC spot ETF since you have already approved Bitcoin Futures ETFs and there doesn't seem to be any difference between those products so when you look at it like that and then you look at what's happened with eth Futures ETFs launching the same argument can can apply so what ends up happening is that the the likelihood of eth getting a spot ETF goes way up and I know I've said before that I don't expect it to happen till probably 2025 I that's still General expectation in terms of like the earliest it could happen but the fact of the matter is is that before in the past

gendler has said that he believes ether is a security but I did mention the other day in his testimony he changed his language a bit where he said the vast majority of crypto assets are securi not everything except Bitcoin is a security right so he's it seems like either him or the SEC generally whether they're trying to whether they're intending to do this or not are softening their stance here uh because if because a Futures ETF being approved for eth means that how can eth be a security cuz future like it it doesn't really make any sense Futures ETFs are uh from what I know regulated by the cftc which regulates Commodities right um and then uh when you kind of look at them and if they approve a spot eth ETF it's also the same thing it's like why

are you approving an ETF for an unregistered security right or something that you claimed was an unregistered security so I think that that whole thing is dead to be honest in terms of the SEC trying to go after eth I know I've said before that it was basically a very slim chance that they would even attempt it and an even Slimmer chance that they would even be able to classify ether of security and I think post Ripple case we've seen and like the post Ripple win uh we've seen the SEC definitely soften their stance here um whether that be due to political pressure or whether that be due to something else I don't know but it is happening from my reading and I'm very curious to see how the SEC acts going forward are they going to bring more enforcement actions against big players or are they just going to go after the

small players and settle like the obvious ones like that um nft project from a few weeks ago that was very obvious about saying hey we're going to drive value to our nfts you know and and and just really it really looked like a kind of um a security or an investment contract really but at the end of the day that wasn't proved proven it was basically just a settlement and settlements don't set precedent what sets precedent is courts and as I said yesterday the SEC is 0 to3 they've won zero out of three cases with the courts now um that defi case grayscale and the Ripple case so you know do they want to go 0o to four with coinbase you know the most bullish thing would be if they actually withdrew their lawsuit against coinbase but that that would be bullish

for crypto but that would be really bad for the SEC because it would basically be admitting that they made a massive mistake uh going after the coinbase and it would open themselves up to even more lawsuits I think as well so yeah we'll have to see how that shakes out but yeah these uh e Futures ETFs will go live for trading I believe on Monday or Tuesday here um and yeah that's it on the ATF side there's some news here from from coinbase today so coinbase has received regulatory approval to enable retail Perpetual Futures Trading uh on their offshore exchange now this exchange is that one that they launched out of Bermuda I believe and they got this approval from the Bermuda monetary Authority and this is of course enable available to non us retail customers only so sorry uh us people you are being

protected once again uh from being able to do what you want with your own money uh but yeah this is just more signal that the US is losing market share or losing out on on market share to Offshore entities like coinbase has their onshore entity but they also have this offshore one because the regulatory apparatus in the US does not allow coinbase to offer these products to us retail customers which is frankly quite ridiculous right that this is happening coinbase is a homegrown us company you know us us startup um not a startup anymore but obviously began as a startup in the US now a publicly traded uh billion dollar company that has created tons of jobs and generated a ton of economic activity for the US and now the US is basically dragging their feet on on and the regulatory bodies are

dragging their feet on giving coinbase Clarity So Co is like well screw you guys we're going offshore and they've done it in a very aggressive way here by launching their offshore exchange and now getting approval to enable Perpetual Futures Trading uh contracts for retail uh and basically everyone except people in the US and I'm assuming like sanctioned entities as well which includes the the usual laundry list of like North Korea Russia and others like them which is to be expected but the US is among those entities you know standing by there which has just always been insane to me uh but yeah that's the latest news there on on the coinbase front all right so Hol Sky did launch yesterday I remember I covered it in in the last few minutes of the episode but

uh just as I ended the episode it launched I had a bit of a bumpy launch at first it wasn't finalizing there wasn't that much participation I think participation was as low as 45% for the first few uh few minutes there then it kept creeping up and we finally achieved uh finalization and participation I believe is almost 90% now so that's very awesome to see obviously it being a testet there's no like monetary incentive for people to get their validators back online as quickly as possible but the fact that it's only a day later and we're already up to around 90% participation is great now just to recap here whole sky is a new test net that was launched with 1.46 million validators so uh just under double the amount of validators that are live on Main net today and the whole point of launching this test net is to replace

girly and to also stress test the beacon chain at that validator count so that's live and running all well and good there are a few different uh tools you can use to actually monitor this so obviously the beacon chain tool that I've showed but there's also another one called uh Dora the Explorer which is a very very good uh Explorer name here you can see it on my screen so this will show you uh a metrics around Hol sky so I'll link this in the YouTube description below but participation uh it's not at 90% just yet it's around 85% but still I I mean that that's fine um and yeah this this shot this site will show you a bunch of different kind of um a bunch of different details here and currently it's forked up to batrix which was uh part of the um uh the Chapala Fork I

believe um and then the Capal oh sorry no it hasn't forked to Capella yet they that's right they were launching it and then they were going to Fork it to Capella which is the withdrawals upgrade for the consensus layer so the chappella side of the consensus layer um and then uh there's no Fork date for for denune just yet on that but yeah I'll link that in the YouTube description below for you to check out all right speaking of denum we got some updates from the latest all core devs cor number 171 here Tim boo did his usual thread he went over a few different things like Denon Hol Sky launch a new private eth transfer proposal and a bunch more things so the the two things I really wanted to focus on was the denune updates and the new private eth transfer proposal so the TA

of the denune updates is that denune devet 9 is launching today uh 75% of the validators will be using nethermind or gu with 19% using Bas Aragon uh and 2% each with WTH and ejs so pretty cool to see that reth and ejs are actually going to be used on this um on this devet as well uh and then they said then there was a kind of conversation here around shortlived devet 10 after devet 9 with a larger validator uh set to test those new churn limits as part of Erp 7514 which was that that churn limit cap and I think devet 10 might be the final Dev net before they start launching test Nets but I was thinking about the timeline around this today and I was

running through it honestly guys there's like a low chance that the denon's launching this year at this point um it's just there's not enough time because if I if I give you the timeline here devet 9 launches today right let's say they do a girly fork in mid to late October then they do a sapoia fork or a whole Sky fork in early to mid November and then uh they do like an announcement uh in in mid November in order for uh for to give four weeks notice to do a a main net kind of release in mid December so that works but let me give you some kind of nuance here as to why it actually doesn't work so the reason it doesn't work is because the cevs have

already said that they're targeting for an early to mid November first test net Fork um before Dev connect there and then you have Dev connect so the the the next test net Fork would probably not happen until early December and then you're already out right you're already out of time here because um there there's no way that you're going to attempt to schedule mayet before you've done at least the first fork and even like plan the second one so I would say that at this point in time it it could be January um it could be pushed out the February I don't know why it would be pushed out to February it doesn't feel like that would be that would make a lot of sense but uh January you know as I said before it doesn't matter if it's January or February and not December

it's like 2 3 months guys there's not really much of a difference there at all uh but yeah in terms of timelines here I unless these test test net Forks happen like in October um I I just don't see a reality where we could actually launch this on mainnet and I don't think that the cevs would want to actually do a mid December mainnet launch because what happens then is that we do a mid December main net launch and then everyone goes on holidays so if the worst case scenario happens where something goes wrong with the network or I guess like clients have issues with them then it's not really going to be uh as these people aren't going to be as fast to react as they otherwise would have been because some of them or a lot of them will probably be on holidays

right so yeah I I think that the cevs are probably going to Target a Jan release um maybe into February but as I said it really does not matter uh that's not much of a kind of like difference there and they never actually gave a date by the way it was always my estimates I think I got a little bit ahead of myself there at one point where I said it could happen in October but I always said that I figured it could happen in November but the fact of the matter is I think that there's been more things that they needed to iron out before they could launch devet 9 which is launching today I think they actually want wanted to launch devet 9 2 weeks ago so they're like 2 weeks maybe behind schedule there uh and then obviously as I said the test Nets aren't planned well

the first test net is not planned to Fork until early to mid November and this is also assuming that everything goes well and that the cord devs feel comfortable enough with everything for them to actually continue along uh with scheduling a main net Fork so yeah we can expect it probably January uh maybe February but yeah I'm I'm highly unlikely this year I I believe but that's the denune update uh the other update was this new kind of EIP that was proposed uh for private eth transfer so this is EIP 7503 called zero knowledge wormholes that's the AIP name here so basically the way this would work as as kind of Tim describes it the AIP proposes a scheme to allow private transfers by burning and remining eth and there's a presentation you can view

to check this out and then Tim continues in short users would send eth to a provably unsp address which looks like any other eth address on chain then using a new transaction type they could provide a proof that they burn the eth and remint it at another address now this sounds really cool and really relatively simple and straightforward and and a really cool way to do privacy on ethereum especially because it would be in protocol and native to the ethereum network there would be no extra trust assumptions or anything like that um but I think the main drawback and they actually listed this in the EIP is that if there was a faulty implementation of this EIP AK a buggy net people may mint infinite the an infinite amount of eth which will collapse the price of e so that is the main concern here and I think that that

is a is is potentially a showstopper now could this um EIP be um be put uh I guess like on chain as a smart contract maybe maybe with some modifications instead of being inbuilt into the protocol directly but I don't think so um maybe if you use like wrapped eth or something like that it' be different but the the main kind of consideration here is the fact that if there was a bug it could potentially lead to an infinite amount of eth being minted which would obviously require an emergency hard Fork to fix so the risk reward benefit here is is not great and also there's debate around whether this should actually be included in the core protocol itself I don't know I'm not I don't have an opinion on this but that kind of like um

risk is is pretty high uh in my mind is a pretty bad risk as well but I still encourage you guys to go check out the EIP itself and the presentation it's linked in timos thread which I'll link in the YouTube description below for you to check out all right moving on swell have announced when they're going to enable withdrawals for their Stak eth uh as LST here SW eth so this is going to be happening in early 2024 so they've said here that the next upgrade called Barracuda will enable the Redemption ofwe 4 eth through the swell app and that would be scheduled for early next year so I guess like between maybe January and March here and uh the uh they say here that that will enable the Redemption of SW e for eth so if you

have been one wondering one when withdrawals were going to be enabled for for swell staking here if you're staking with swell that's when it is there now I know that um a lot of people have staked with with swell now uh they're actually top top 10 liquid staking protocol there's 44,000 e Stak there right now uh they've been running an incentive campaign things like that but uh but yeah if you were worried about kind of like it being like a one-way thing right now well by early next year there will be a 2-way thing you'll be able to withdraw from it and everything will be all well and good there all right inmax today revealed a wallet wallet they're calling it so no app or extension no key management and secured by fully homomorphic encryption here fhe which has become a bit of a buzzword

lately that you may have heard about um but I should have talked about this before when I was talking about wallets but you should definitely go kind of check this out this new wallet lless wallet and what it kind of looks like I think there's a there's a wait list for it or something like that uh but basically you can see here that there's like no key management no seed phrase no app extension secured with your Biometrics things like that so this is really the future of wallets to be honest guys like I I was discussing before about the current options but really the future of wallets is to abstract away all of those complexities like there is no way we're going to scale to mass adoption if everyone has to deal with keys like see it like private keys and Seed phrases that's not

happening right and there's no way that we can have that happen without securing it by uh by using things like biometric Security on the iPhone like uh face ID stuff like that uh and securing it with with different encryption scheme and ZK proofs and all that good stuff there so yeah it Max is entering the game here with this you should go check it out I'll link it in the YouTube description below uh for you to do so all right so we have an update out of espresso today so espresso has said that the espresso sequencer recently released its third major Milestone and testet cardo which I uh ended up covering I think a few weeks ago and today they have unveiled the first live public demo of a shared sequencer this demo not only supports multiple rollups but multiple rollup stacks and the uh stack that's

being used with it right now is Caldera so they've introduced something called the Vienna Network which is a public devet of an optimistic rollup using the espresso shared sequencer and you can check out the details of this in espresso's blog post as well as caldera's blog post which I'll link in the YouTube description below but great to see progress being made here honestly espresso is moving really quickly with these shared sequencer stuff I thought that this map might take longer than it has but you know they launched their Koto test net and then they've launched this kind of uh new public demo of a Shar sequencer and it seems to be working I I checked it out just before uh and I guess like to get this to a point where essentially it will be integrated with the existing main net rollups might take a while obviously for

security reasons and stuff like that but the fact that this test net is live is is awesome and it's a public test net too so essentially what it's doing is that it's integrated with an OP stack rollup and polygon a polygon zkm rollup for decentralized shared sequencing so not only is it doing sequencing with an uh with uh with two different uh different rollups here they're different rollups Stacks as well so it's not just an optimistic rollup here but it's also a ZK rollup or zkm rollup using two different Tech Stacks the op stack and the polygon stack here so that's really cool because I think some people may have been under the impression that Shar sequencing was limited to one technology type or one ecosystem no I mean in practice and from what I understand uh

espresso technology here could work with any number of different rollups built on different Tech Stacks as long as they've opted into it on the sequencer side of things uh obviously they're going to start small and scale it up over time but this is very exciting uh for various different reasons and if you want to learn more about this obviously you can go check out the blog posts which I'll link in the YouTube description below for you to do so all right something that I came across I guess today that was posted a few weeks ago actually on September 9th was this new project called superbid doapp now this is a new bridging uh project built by the guys at Fugu works and you can say here see here how announced it by saying today I'm excited to show off something fun we've been

working on lately the super Bridge which is a native bridging experience for all chains as part that are part of the op super chain so you can see here the chains that are currently supported which with more coming soon all op stack chains of course uh but essentially I believe it is a um it go it Bridges from L1 to L2 uh and then uh with L2 to L1 transactions it also it's a little more tricky and requires two additional transactions on the L1 side and you can see the the description here of how this is all kind of extracted abstracted away here uh from doing an L1 sorry an L2 to an L1 uh uh transaction so this is pretty cool just another bridging infrastructure for you guys to use especially as part of the uh the I guess like um the uh the op kind of super

chain stack here uh definitely new so as I always recommend caution when interacting with new things especially Bridges you guys know my my kind of view on Bridges here uh but if you want to get full details about this you can read Harris's tweet thread which I'll link in the YouTube description below for you to do so all right last up here was an announcement out of the city of bonus a is they have launched a blockchainbased digital ID service now this I believe is built on ZK sync era which is pretty cool since it's built on L2 here it's known as Quark ID and it relies uh partly on technology from an Argentinian based startup called extr mini extan yeah EXT minam and you can go check this out I'll link it in the YouTube description below for you to do so but

this is very I've talked about digital IDs before and about how these digital IDs can really help uh different kind of like cities around the world manage identities for their citizens right because right now a lot of the identity stuff and and KY stuff is done with centralized databases that are routinely hacked and exploited and data is stolen all the time so what if we enabled everyone to just have their ID on their own personal device secured by their own personal device like uh with iPhone secured by the whole kind of uh by face ID right and so we don't have this Central Storage of of identification data or identity data and everyone just owns their own kind of identity here and really all the government would store

would be kind of like the ZK proof that basically says that you are who you say you are right so so that's very very cool and the fact that this is going to be built on a on a rollup as well is is even cooler because this is basically um I guess one of the first examples of a real world like non- crypto native thing being built on a rollup so so yeah really really cool to to see this but as I said you can check out the website to to check more information to learn more about this I should say and check out the article from the Block uh to to learn a bit more about it as well but on that note I think that's going to be it for this week and I just realized I didn't miss an episode this week of the

refill so I guess like I'm pretty proud of myself for that that shouldn't it should be the norm for me not to miss episodes um but obviously over the past few months I I've been missing at least one episode a week and last was it last week I think I missed uh three because I was actually in barley for a wedding I didn't say that at the time but but I was in uh I was in barley for a wedding last week that's why I missed three refuel episodes uh and you know what barley was actually a pretty nice place to be that's a meme um because Kyle Davies said that uh from three Aras Capital he said that on a on a um an interview on TV but it was was quite nice uh and the wedding was was pretty cool uh and the weather was just

spectacular as well uh and B's pretty close to Australia it's a very popular destination to go to for us cuz I think it's like a 2our time difference yeah it's a 2our time difference and about a 5 and 1/ half hour flight so there's basically no jet lag it's not a long flight or anything like that uh but yeah that's where I was last week but I had a lot of fun but anyway I'm not going to bore you guys with the details of my personal life uh on that note it it's going to be it for today so thank you 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 next week thanks everyone