Pectra timeline, WalletBeat website and more - The Daily Gwei Refuel #823 - Ethereum Updates

Transcript

hello everyone welcome to another episode of Del refuel right up latest news eum ecosystem I'm your host and it's the 7th of February 2025 all right everyone let's get into it so a little update on the kind of new powered by ethereum branding that I've been talking about for a few weeks here so Jack butcher who is known for his project called visualize value and a bunch of different things within the crypto ecosystem has taken his stab at some built on ethereum branding and honestly my initial reaction to this was that I didn't really feel it was kind of ethereum but then I went through like the day and I was like you know what this is actually growing on me and it's not just this that you see on the screen it's also other stuff that he's put together down here I think he was going

for this kind of I guess like money Lego approach or kind of like Lego approach where you can see that it becomes quite modular where you can see the different building blocks and you can scroll down there different colors and it can be it can be done on different surfaces and stuff like that so you can see kind of what he's been going for here which I think is pretty cool honestly I don't hate it like I you know I'm not in love with it or anything like that but at the same time it doesn't really matter what I think I I think a lot of people really like this one and a lot of people really seem to be in favor of like a brand refresh for ethereum but as I mentioned last time it's not really a brand refresh as much as it is just the

community getting together to create some built-on or powered by ethereum branding and that's exactly what Jack was doing here by putting his hat in the ring with this and there's actually a competition being run right now uh kind of eth Denver brand hack they're calling it on joke race which is onchain platform where people can kind of come in submit their ideas and there's a contest people can vote for it on chain to see which one actually wins the contest uh and this is probably the the best design I've seen submitted so far there are people submitting their own designs but they're not that refined um and Jack is I mean he's a proper graphic designer guys like he knows what he's doing when it comes to this these kinds of things and people really seem to resonate with this now it's not really something that's like official as I said

it's not endorsed by anyone it's not endorsed by the EF or anything like that but the thing is is that I'm pretty sure he published the files for this so you can start using this today if you want you can put it on your website you can do whatever you want with it and projects have already started experimenting with it because as you can see here alchemix actually put their own logo as as a replacement for the letter o in on on the uh the whole imagery here as you can see built on ethereum with the alchemix logo there I thought that was pretty cool actually I actually like the idea of each project putting their own branding and logo on this imagery some people kind of hit back and said well what if the logo doesn't fit what if it's not a circle I mean I get that it's not supposed to

be a one siiz fits all thing but I I kind of don't mind this and I had a friend actually bring up that this kind of maybe kind of dilutes the message here that this is supposed to be about ethereum not individual projects but in ethereum is the individual projects right ethereum is its ecosystem and and ethereum is still prominent here you've got the the little little e icon here uh and then you've got like the word ethereum so just because a app has put their own logo here like placing the o doesn't mean that ethereum isn't featured prominently it certainly is so I think bass did this as well where they put their logo there you can see here bass did it built on ethereum which I thought was really cool so I mean if your logo is not a circle as someone said here you can just put a circle

around the logo I mean Unis swaps logo is a unicorn you just put a circle around it and all of a sudden it's a circle logo right so I mean I'm not a graphic designer it probably doesn't work for every logo but I like the idea of the projects having agency over this stuff because it it basically allows the project to Showcase themselves as well as showcase that they're built on ethereum here so as I said I believe this is live I believe Jack published the necessary files so you can go basically play around with this um and and and you know do whatever you want with it which is which is really cool uh but yeah as I said there is that competition that's still running I think that's going to run through eth Denver which is happening very soon I believe I'm not going to be there uh at eth

Denver this year it's just too far for me to travel for a couple day conference and it's really crypto Denver these days doesn't really feel like an ethereum conference anymore there's all these crypto I guess like boobs there that have got nothing to do with ethereum so yeah not to not to crap all over the conference there's going to be plenty of good people there but it's just not my vibe anymore uh especially because it's so far away from me it would take me at least 20 hours to get there then I got to deal with jet lag which is like what I think it's like an 18 hour time difference so yeah definitely not for me but anyway you can check this out if you're listening to the podcast if you actually want to see what these logos look like I'll link it in the YouTube

description below for you to do so all right we finally have a timeline for Petra a real timelin like kind of I guess like set in stone so to speak time timeline so the first test net holeski will Fork on Monday February 24th the second test net apoia will Fork on Wednesday March 5th and the main net slot uh will be uh picked on the March 6th all core dev's call but there was a guide guideline given that they're targeting early April for this so not mid to late March as I originally uh suspected but early April is not that far away I think uh from estimates you know you could say it will happen a month after uh the allore dev score which is on March 6th so maybe

tentatively I guess it's worth guesstimating that it's going to happen on April 6th so we could see Petra live by April 6th which is great there's already a lot of work started on faka by the way guys there's already devet being spun up for it to get pias and eof in that I'm still quite confident that we can get that delivered before the end of the year I'm hoping it happens in uh kind of like by November because as I've mentioned before December is not really a time where they like to do for it's the holiday period so on and so forth but if we can get pias in with eof before the end of the year as part of fusaka that would be awesome because then glamster dams coming next year uh of course uh and that's got a bunch of other upgrades in it as well so yeah I'm

I'm definitely looking forward to to seeing if we can get that live there but Petra definitely going live uh early April unless there some catastrophic bugs with the test Nets that uh need to be fixed which I don't I don't think is going to happen I I doubt that at this stage it seems like Petra is going live on a April 6th here all right so Justin Drake stirred up the hive with his recent uh tweet here which is quite a long tweet I'm not going to read the whole thing but really The Croc of it was discussing three main things eth as ultrasound money uh bitcoin's long-term security budget issues and ethereum staking or I guess like ethereum issuance generally or E issuance generally I'm not going to focus on the former two things I'm going to focus on

eth issuance I guess the ultr sound money kind of burn goes into the eth issuance and ethereum's monetary policy but the long-term security with bitcoin's uh kind of security budget long-term issue I should say sorry with Bitcoin security budget is out of scope for this you can read uh Justin Drake's tweet for yourself to get an idea about what he's talking about here but when it comes to staking he came up with this kind of I guess new term called croissant issuance now Justin loves to meme things he loves to attach funny little imagery to it so you can see in the image why he's called this croissant issuance because it's basically the issuance curve going up and then going back down after Peak issuance with a soft cap at 50% of e State now this falls into a lot of the other issuance discussions that have been going on over

the past I think 12 months really uh about the fact that people are are worried that we're going to get to a huge level of e Stak that might be all staked within lsts and those lsts May displace ether's money within the ethereum ecosystem so what Justin here proposes is something called croissant issuance which would put in a soft cap into e staking so as he describes it here the staking fraction where issuance returns to zero so at 50% staking soft Camp feel uh stop soft cap feels credibly neutral and pragmatic in particular it's large enough to address discouragement attacks uh and then there's Peak issuance so there's the theoretical maximum issuance born by eth holders an arbitrary round number like 1% a year will do as ultimately the equilibrium rate would be Market set I'm

going to be honest with you guys I I I don't really like I don't really have a strong opinion on these issuance debates at this point in time I know it's been a while now but I can see both sides of the arguments that's the problem and both sides make a lot of sense but the the the thing is with issuance changes and with monetary policy changes there's an extremely high bar to them it's not something that can be done lightly it's not something that can be done just on willy-nilly right I remember when um some of the researchers proposed getting it into pectra and everyone lost their minds over that rightfully so it's just not it just cannot happen that quickly but I understand the concerns on the other side of things around uh eth getting displaced as money within the ethereum economy uh too much eth being

staked leading to discouragement attacks so on and so forth staking becoming very centralized like I understand all of that but but the counter to that is that right now we're at what around 30% of all e staked and it's kind of plateaued there where essentially the yield uh the issuance for I guess like the yield I should say uh for for staking eth at this point is around 3% and most of that is uh the consensus layer rewards AKA new eth issuance because fear Revenue has come down quite a bit due to various different factors within the ecosystem like things moving to l2s blobs not paying as much as just L1 transactions did a lot of meev moving off of L1 uh and also the Market's just generally being quiet outside of things like

memecoins which as you guys know didn't happen on ethereum L1 obviously so that didn't drive the the fair Revenue there but ju just outside of that like um you can kind of make two arguments here the first argument is that well e staking hasn't tapped out at 30% of all eth we're going to grow a lot more when things like the um staked eth ETFs get approved we're going to grow a lot more when things like uh like more lsts and more llt things come online and uh those things get hot again and fear of you picks up again on L1 which makes yields go up so on and so forth but but my counter to that is that the staked eth ETFs are are probably going to bring in a lot of uh new I guess like staked eth online of course and we don't know who

they're going to go with are they just going to go with coinbase are they going to go with um various different operations within the ethereum ecosystem are they going to set up their own like is Black Rock going to set up their own staking kind of ecosystem instead of going with a third party they might because the third party would be charging fees on top of custody fees as well so the fees might be too great and they might not be able to be competitive there so we might see them set up their own sticking operation I don't know probably not because they're not used to it maybe they will down the line but maybe not initially but regardless of that you have to think of it in terms of I think dollar terms as well because when you're staking as part of like a

big oper you don't have to have like a 32e minimum for a validator like obviously after Petra goes live it's going to be the 2048 maximum still the 32th minimum so essentially what you have is that you can take in any amount of dollars into eth or any amount of Fiat into eth and then stake that and pay the yield out to your customers so 32 e right now today at current eth price is almost 100K right so how many people do you think are going to be buying like 100k worth of eth um and and and going and staking it and how long are they going to be doing it for how long they going to be holding it for like I'm talking about individuals here probably not that much but then you look at the dollar values and let's just say for example the let's just say10 billion

goes into staked eth ETFs like $10 billion comes in buys eth and Stakes it well that is still a very kind of small portion of the overall staked eth because $10 billion doesn't tell you how much eth is being staged it only tells you how much fat value of eth is being stagged and that $10 billion is not going to purchased at the same price of e at you know at each time it's staked so when you look at it like that and you say okay well let's just say $10 billion comes in over the next couple of years or next few years into e staking via these ETFs then what does that work out to as a percentage of overall e Stak well I think it's around 10% right now so okay 10% is is in there now 10% is not anywhere close to a majority it's

not anywhere close to the 33% threshold it's not obviously not close to the 66% threshold so it's not necessarily something to worry about and that's assuming that that eth is all purchased at the price uh that eth is today right and I'm not talking about if eth goes up from here let's say eth doubles from here well then the the effective eth that's being staked halves from that the total value of the eth being staked goes up and then the percentage goes drastically down so I think that is is one way to I guess like lessen that impact of the ETFs in that it's it's when you think about it in theat terms it becomes a bit different there but I understand that people are uh kind of like gets worried that it's not just that it's the fact that what if a lot of

people say well instead of staking with coinbase directly I'm going to go through the ETF and then I'm going to stake on the ETF instead of just staking through staking through coinbase directly that could happen but then we're really just like changing where the stake is we're kind of shuffling it around it's not really a new stake for example and it actually might end up being better because let's say kbase loses half of its eth that's staked to Black Rock for example that's actually net better because it means that we now have half of that stake as part of a different entity to coinbase right and obviously it depends on where the custody is and things like that but if blackr was to run their own operation then it would be different so it would actually ends up being positive so I

think there's a lot more Nuance here to the I guess like uh distribution of stake than people would have you believe when they just say things on crypto Twitter right so that that's my general view on that in terms of the issuance policy today in terms of like people thinking that 2% % is too high and we need to lower it I I mean I don't think two it's not 2% it's like 1% right now because you got to count on um on it just on the E State not on the whole whole Supply so it's about 1% from from memory I I I honestly think that that's completely fine I I I don't think that that's the reason why eth hasn't like gone to 10K or anything like that the demands is is more important than Supply every time because you can see there's

other networks out there that have huge amounts of supply for ex like other Pro of stake networks for example salana has like a 7% issuance rate or something like that has most of its e uh eth most of its all staked and it's still gone up more than ether over the last I guess like 18 24 months or something like that yes it started at a lower market cap and so on and so forth probably over the next few years it probably won't it's not going to perform like that again um but then you look at Bitcoin as well Bitcoin uh issues I think like what is it 60 or maybe maybe like $4 or $50 million a day of mining Rewards or something like that and I believe issues about $6 million a day of staking Rewards or actually it issues more but the burn offsets some of that so let's

just say net Supply is like 6 million right and obviously Bitcoin has performed better than eth over the last whatever amount of years you want to look at so demand always outstrips Supply you can artificially restrict something to like 0.1% uh issuance rate but if no one's buying the thing then it's not going to go up right it's still going to be it's it's still going to go down so demand is is more important here so I don't really buy into those arguments around needing to lower issuance because it' be better for ethereum overall maybe we are overpaying for security because $100 billion of Economic Security is just like I mean it's ridiculous right when you think about the econ the attacks that can happen economically on the ethereum network now it's pretty much impossible even for nation states to do

this to get a a hold of that much eth enter it into the validated queue without the ecosystem noticing that this is happening and then do some kind of attack and get slashed and lose all that eth that amount of eth isn't even available for sale on the market right and if you were to try and buy up that amount of eth it would send the price skyrocketing so so the the more likely scenario is not an economic security attack the more likely scenario is an attack by taking over the the existing validators right and that's why we care about validated distribution that's why we care about validated decentralization now I just realized I've ranted on about this for for quite a while now so I want to wrap it up here but essentially I don't think we should be changing issuance at this point in time I don't

really necessarily think that that we should be touching the monetary policy I do think that there's still things we can do with staking but I don't know if that has to come with like a monetary policy change in issuance change I think that we can do better things with staking make staking better with stuff like um rainbow staking which I've talked about before you can find the E research post if you were to Google that but I'm not sold on changing the monetary policy at this point in time definitely not to I guess like defend against some attacks that are very theoretical and in practice don't even make sense but that's just is my view on things you can go give Justin Drake's tweet a read for yourself it's quite long so I'll link it in the YouTube description below but that's my view on

everything uh there all right so vitalic has put a spotlight on light clients again today so Chasin here is testing out uh some kind of light client here which you can see I believe this is Helios yeah Helios it's the light client that a16z uh is building and you can see here Noah from a16z is responsible for this and vitalic quot tweeted this and said and Noah and others working on heliosa Heroes it's an indispensable part of the ethereum dream that you should be able to access the chain read and write without needing to trust centralized third parties looking forward to seeing while it's incorporate Helios the reason why we want light clients guys is so that you can literally do trustless uh read and writes of the ethereum chain from a

smartphone without having to run a full node on it and without having to do it to your own full node you can do it to anyone and you just run the light client on your device and you're able to do this trustless that has been the holy grail for quite a while now and it also enables more scale for ethereum there are all these things that surround scaling that don't I guess like directly have anything to do with scaling but indirectly allow for more scaling of L1 on the out outskirts and then all add up to scale L1 massively and that's this is one of those things so keep an eye on light clients keep an eye on Helios I've talked about Helios before I've showcased it before I believe that it was on one of the um eth mobile devices that ended up coming out it was kind of

preloaded on that it works it's it's not as far as I know production ready just yet but it's getting there and they won't be the only one there'll be other light clients there but ethereum as a network needs to also improve for light clients too there's a bunch of stuff on the road map for that not going to get into that now but yeah just exciting to see uh people highlighting this again because this is really one of the Holy Grails for ethereum all right so if fossil wasn't enough for you guys if the inclusion lists uh weren't enough for you guys that I've talked about in the past and how bullish this is for ethereum sensorship resistance ethereum researchers have introduced another thing today called ZK fossil which is a protocol for private ethereum inclusion lists it's based on fossil of course and powered by linkable ring signatures

validators can publish inclusion list privately without revealing their identity this is just like I we haven't even got fossil live yet and they're already doing this it's just like ah this is the kind of stuff that I nerd over but the reason why this is really cool is because let's say you want to essentially uh be able to to uh publish your inclusion list but you don't want anyone to know that it came from you maybe you're a large staking provider and you don't and you want to have plausible deniability about what's in your inclusion lists um then you can do that now well not now but if this is integrated you can do that with something like ZK fossil which I thought was just something that I hadn't really thought of before but is genius in a way and using linkable ring signatures which

I believe are have already been used in other parts of the crypto ecosystem is a pretty ingenious way to do it now of course of course is very technical it get gets into very kind of deep nitty-gritty cryptography stuff um but you can give this e research post to read for yourself if you want to I don't know if this is going to make it in with fossil I don't know if it's going to be like as part of the the fossil roll out cuz fossil will probably go live in glamsterdam at this point which is the uh upgrade next year uh but if it I mean we've still got time to build this out so maybe this does get included as part of that and then we just get fully private inclusion lists from day one like how awesome would that be anyway as

I said you can go check out this e research post for yourself link it in the YouTube description below for you to do so all right so the fourth edition of the eth investors Club Magazine is now out this is 100 pages of ethereum goodies for you guys to go check out uh you can read the digital issue and purchase a physical copy uh I don't see any link here actually it's probably on their bio and you can go to eth investors club.com um and then yeah you can read it now reading it's free you can Min to nft as well and there's a physical copy that you can get to so you can see here that you just read it on your um on your desktop here or on your mobile wherever you read it on uh and it's 100 pages of ethereum goodies

talking about everything happening within the ethereum ecosystem so I've highlighted this before for you guys but you can go check it out um if you haven't read the previous editions they're on here as well but yeah you can go check this out I'll link it in the YouTube description below for you to do so all right so someone has created an L2 beat for wallets called wallet beat so their beta version of wallet beat is now uh continuously deployed to ipfs you can go to uh this URL I'll link it in the YouTube description below but it's beta. walletbe doe. limo and there's only a couple of Wallets on here right now as I said this is an early release but it's basically showing you what the security privacy self soverignty transparency and ecosystem look like for different wallets within the uh kind of

um kind of ethereum ecosystem so the two world suppored right now demo and rabby I use rabby quite frequently I really like it I really like a lot of the features they've got um but at at the same time there are still things to be improved so you can see here that there is for rabby no L1 CH chain State verification under security privacy um is unrated right now uh self- sovereignty it partially supports self-hosted nodes um transparency it's not doesn't have a license file but the source code is available and they have transparent funding and the ecosystem uh no human readable address resolution so no ens support fully but fully compliant browser integration so as this grows as this gets populated I imagine this is going to be a really good tool to send to people that ask you you know what

wallet should I use basically uh because there is a lot of wallets right there's so many wallets and a lot of them are actually pretty shitty wallets I remember when I first got into ethereum in 2017 I this was like really early ethereum days I downloaded a wallet on my phone and it wasn't a wallet that would store your eth on your device under its own P public private key it would store it in some kind of like hot wallet that um I didn't have control over directly I would have to basically send it with with withdrawal request to it luckily I didn't lose any eth over it but hey like that was like thinking back on it now I was like wow that could have just been a Honeypot right so I'm glad something like this exists I hope to see it get more uh get more updated over

time you can contribute to this it is on GitHub it is open source for you to contribute um but I'm hoping that they get some sort of funding as well this is the stuff that the EF loves to fund uh and other kind of ecosystem uh grants in in across the the ethereum ecosystem so yeah uh and and the person creating creating this their name is poly mutex on Twitter I'll link the the thread in the YouTube description and you can go check this out uh for yourself all right so X SMTP I've talked about this project before but just a refresher on what this is they're trying to build the world's most decentralized messaging network uh and most secure of course as well now reminder here I am an angel investor in xmc XMP I invested in them quite a while ago actually and it's

been cool to see how this project has evolved over time so they're launching today the xmt test net so uh they basically did a bit of a spiel about how um current DM systems current messaging platforms are broken but with xmt uh they want to improve on that with no censorship no backdoor surveillance and it's owned by you not a CEO it's not just a protocol it's Sovereign communication and they explain how it works here so micro fees are paid by apps in usdc automatically distributed to not operators that's how the network is kept alive messages are delivered in milliseconds via an offchain broadcast network and consensus on critical state is maintained using arbitrum Orbit on base interesting selection there where they're using arbitrum orbit which is an

L3 um kind of infrastructure but settling down to base which obviously settles down to ethereum L1 there and the apps that they're supporting right now are listed here and there's a whole thread about this but this is really cool because we have a very big Focus as an ecosystem on the financial use cases of crypto because obviously the financial use cases are where you can make money right but there are so many other things that can be done with crypto outside of uh uh Financial use cases and I'm glad to see more and more of this stuff push on because it can be hard like if you're not building something in defi if you're not building like an L1 or an L2 or like an AI thing it can be quite hard to get funding for these things it can be quite discouraging to build these things

because they don't seem to get as much attention as the financial applications but at the same time they're critical I think especially in in in the in the way the world's going these days the world is changing I don't know I mean I'm sure a lot of you have noticed this I don't talk about it too much on the refill because this show isn't meant to that but the world is changing in a really big way it's not just in the US but it's across Europe it's across um the you know the east in Asia and and parts like that Africa is changing a lot too I know that the um the Middle East is also going through changes the whole world is just changing in various different ways and it seems like at the risk of sounding like um someone who shouts conspiracy theories it definitely seems

like we're uh going into a world a new world order which doesn't mean that there's some kind of like I guess super kind of shady puppets controlling everything it just means that the current world order or the one that we've been in for I guess since post World War II is changing and evolving and I guess trying to make itself into something that is more compatible with the digital world because I feel like there's been this transition teritory period between the analog world and the digital world and we're pretty much firmly in the digital world now I don't really think we're in the analog world anymore everyone's online most of the world is connected to the internet there are people that have a smartphone with an internet connection but don't have a place to don't have anywhere to live right so they have access to all of

basically well most of human knowledge on their smartphone they have access to so many different services on it but they don't have a place to live like that's that's how digital our lives have become and it's so ingrained in our lives but I would say for the last 20 years at least we've gone through probably 30 years we've gone through this trans transitory period from analog to digital and it feels like as even more time goes on people forget what the non-digital world was like because there's no one left to remember they all died right like if you think about the people alive today that were around when the world wasn't fully digital I would say that they're in their 40s at this stage right they 40s and above basically if you want to be gener generous with it um and a lot of the people who were in a

world that didn't have computers at all they they're they they're quite old now or they're pretty much like they they're dead right so as as more time goes on as as as more decades go on the world's only going to become more digital and that means we need to make sure that it doesn't become a dystopia and one of the ways of doing that to bring it back on on topic here a little bit I I went a little bit off topic but to bring it back is something like xmt which allows for secure decentralized censorship resistant communication to go along with our lovely secure and decentralized censorship resistant money so yeah you can go check out xmt P's testet I'll link this in the YouTube description below for you to do so all right just wanted to give a shout out here that rises test net is coming fast and they

inviting Builders to take rise for a test drive with up to 100 million rise tokens in total prizes to be one Builders have been held back by slow speed and high latency for far too long and Rise is aiming to change that so rise is one of those uh I guess like uh super performant l2s that are coming out soon there's Mega eth and there's a few others out there just a disclaimer here I'm an advisor investor to Rise um I I really like what they're trying to build here I really like that they're trying to push the boundary on things because what they're trying to do is get people building like net new apps on the platform instead of just building the same old apps and that's what this Builder competition is for so if you are a builder interested in building here you are able to get a share of up to 100

million rise tokens which is a lot I don't know what the total supply of Rise tokens is I've forgotten but I think that's quite a huge percentage of the of the token Supply so could end up being worth something I don't know I'm not going to give price speculations here but regardless of that I mean Builders care about more than just money obviously they want to get paid but they care about more than just money they want to innovate they want to build cool things and one way to do that is to build on a new kind of Green Field and that's what rise is offering here so you can go check this out for yourself I'll link it in the YouTube description below for you to do so all right last thing I wanted to talk about today was just uh something got to

do with L2 interoperability so offchain Labs the uh I guess like the team behind arbitrum here has published a new design that they've come up with for True interoperability in ethereum uh and they're building this with uh many teams across the ecosystem and they're using a universal intense engine to do it so they say here that you'll be able to seamlessly connect arbitrum chains and other l2s with less than 3 second cross train swaps and transfers to achieve Flawless ux so uh the cool thing about this is that as far as I know it doesn't require any protocol changes to ethereum L1 actually I would say it definitely doesn't require any protocol changes to ethereum L1 uh and it's trying to do these kind of cross train uh swaps and transfers in a secure uh in a secure way

uh but also doing it in a really fast way like as as far as I know today there is no bridge out there that's going to allow you to do cross chain transfers unless than 3 seconds and or cross chain swaps and the reason for that is because you have to at least wait for one ethereum block which is 12 seconds or 1 eum slot I should say which is 12 seconds uh but a lot of them like to wait for more than that just in case of reorgs whereas um the way this is going to work is I believe it's similar to cow swap when it comes to like the intent to do something so well I shouldn't say cow swap I should say maybe something like pre-confirmation where essentially you would post like some kind of bond as collateral and then you would you know

make the promise that you're not going to do anything kind of finicky here you're not going to do anything weird here to enable this seamless ux for for users so obviously this is being secured by crypto economics and not cryptography um you know as as like the ultimate back stop yet at least from my understanding but it would still offer way better interoperability than what we have today so huge kudos to arbitrum or offchain Labs I should say for working on this um and and kind of explaining it in this uh tweet thread and blog post you can go check this out in the YouTube description below but also you're probably wondering when is this going live um I read before that it's going live oh yeah it's here in q1 of this year so it is not a year away guys as I said we've got to do EAC we've got to

accelerate ethereum development while it's launching in q1 so q1's almost over it's like o I mean it's not almost over we're almost halfway through q1 I should say it ends at the end of March um but it will allow for integrated arbitrum chains and other ethereum l2s to achieve this Less Than 3 second cross chain asset uh transfers here so I'm interested to see how many chains kind of sign up for this and get involved with with this this would be a huge unlock honestly for the ethereum ecosystem and be a huge unlock for making it feel like a single chain again instead of just like the fragmented chains that we have uh today so as I said you can go check this out for yourself I'll link it in the usual description below but I think that'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 let join the Discord Channel and I'll catch you all on Monday thanks everyone