Reddit NFTs, Fire now live and more - The Daily Gwei Refuel #474 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily way refuel where we got the latest news in the theater maker system I'm your host the Anthony sasano and so the 25th of October 2022. alright everyone let's get into it so a uh core Dev update here from Terence today from prilabs uh basically he's tweeting out saying besides withdrawals 4844 censorship resistance and client features slash code Health one may argue Beacon chain like client support is the next low-hanging fruit any links to a GitHub repository GitHub I guess some uh tracker here for like client server support that was started by Terence here on the prism uh or I guess like the the prism GitHub repository I've spoken about light clients a fair bit recently

it seems to be popping up again in terms of uh I guess like attention it's been something that's been on the ethereum roadmap for a very long time actually probably since day one it's been talked about uh even before the network launched that concept of allowing anyone to be able to verify the Integrity of the network or verify the validity of of the network that they're talking to from something like a smartphone so from a resource constrained device and by resource constraint I don't just mean like the data on your device or the the storage capacity on the device but also network capacity because we all know that on Mobile plans like in much of the world you can get access to data but they don't give you much right even in the developed World they don't give you very much to work with especially in the

age of streaming things like 4K and things like that like that you can eat through that data very very quickly and then when it comes to blockchains I mean trying to sync a full ethereum node over 4G or 5G for example one it would take a while two you'd eat through your data long before you got to the head of the chain um and three uh kind of sinking a full note on a mobile device I mean these days it's it's probably doable but it's still not something that we should uh expect users to be able to do right so that's where light clients come in especially for mobile devices or lower powered devices uh and I mean that's just like the primary okay use case for it but there's also I mean one of the primary use cases um being able to have a I guess a node

on your phone but the other one is being able to relay your transactions via a like client uh via you know third-party rpcs but running a like client so you don't have to trust these third-party rpcs where you can check the data for yourself using your own like client will check the state I should say for yourself using your own like client so if like clients are something that you have may have heard of and you haven't actually looked into yet I would suggest looking into it because it's definitely something that Court developers are working on right now and have been working on for quite a while there's something called the portal Network which you should Google as well which has got to do with this so portal Network ethereum should come up with some results for you um and this also falls into the work

around the Verge and uh and and vertical trees and stuff like that it all basically Blends together but that's pretty important to to look into as well if you haven't yet but cool to see that Terence is already thinking about other things other than the most popular stuff that we're all talking about obviously withdrawals are being worked Donna coming soon 48 44 I mean so much progress is being made on that right now censorship resistance it seems that is all anyone can talk about there's so much getting done across multiple different uh teams on that not just core developer teams but obviously teams like flashbots for example are working on that sort of stuff with Suave and just general client features and code Health he's just kind of like the day-to-day operations of client teams whether they be on the consensus layer side or the

execution layer side that's just part of their everyday work happening there now I remember I mentioned last week that I believe this week the execution land consensus layer calls her back I think it's this week if not it's probably next week but once those kick off again we'll be getting a much clearer picture about the timelines around these sorts of things and around what's going to actually go into the Shanghai update and upgrade and what won't because it's still not finalized the list of VIPs that are going in there obviously the two most popular ones are withdrawals and 4844 I think look like I've said it before and I'll say it again withdrawals are like the number one thing that needs to go in we can same withdrawals I should say the number one thing that needs to go into Shanghai and I've seen no indication from core developers that

that won't be the case 4844 we don't know if it's going to be ready for Shanghai it probably can be uh you know I'm optimistic about that but we don't know uh and we don't have a date for Shanghai but I think the general consensus is that we want to do it in the first half of next year ideally in q1 I'm not really thinking it's going to happen in q1 I would probably put money on early Q2 uh not not late YouTuber early Q2 uh and it just depends right because if they do want to do 48 44 but it's going to take a bit longer to get that in maybe we see this push out to Lake Q2 early Q3 but I don't know I feel like we should if if 4844 is going to take longer than we would like to just

just big and chain withdrawals as a standalone fork and then shoot 48 44 with a bunch of the other eips that want to be included as well but you guys have heard my thoughts on that before I'm not gonna rehash it again here but you can go check out this tracker from Terence on give Hub here which I'll link in the YouTube description below alright so uh snapcrackle.eath shared a update today that layer two grants the layer 2 grants round is now open from the ethereum ecosystem support program so the ethereum foundation is seeking proposals for tools analysis research and education on layer 2 Roll-Ups and the details are in this link here which you can check out of course I'll link it in the YouTube description below so the submission deadline is in six weeks and snap crackles DMS are open if you have

questions and you can also apply using this little button here on this website so if you're a developer or I mean not even just a developer if you're anyone that's interested in putting together something got to do with layer twos and you want to get some funding for it well there is a 750 000 in total available to uh the different ideas here and there's a list of ideas that uh the ethereum ecosystem Support Program have put together but you can also surprise them with your own ideas and as I said the deadline is in six weeks so December 5th 2022 and you know all the details are in this blog post here which I'll link in the description below so if this sounds like something that you want to do or you're interested in doing you should definitely go check it out all right so the last 24 hours has been

quite fun with regards to nfts because everyone's been talking about Reddit nfts and Mahalo here from polygon of which uh Reddit nfts are built on so built on the polygon POS chain put out a little tweet here where you say you know Reddit nfts are an amazing example and a huge win for the whole uh web free ecosystem there's three million wallets 99 unique owners are only a few whales it's a hundred million dollar market cap a native Reddit Community organic no crypto Twitter noise no uh you know price pumping things like that and fast affordable and carbon neutral minting and there's a bunch of uh useful links that my halo is linked TR so yeah as I said this has been things something that everyone's been talking about over the last 24 hours and I have a few of my own takes on this so first take a a which I

think is funny is that I think Reddit uh rebranded Reddit nfts to Reddit digital Collectibles and all of a sudden everyone fell in love with them on on Reddit and obviously for those of you who have been paying attention Reddit has been very very very anti-nft for a while and my thoughts on on that generally were that I think Reddit and similar communities are against crypto and nfts because they feel like they missed out right they feel like they watched all these people get rich or make money on these things and they automatically go to being bitter about it and hating on that thing because they missed out on it well you give Reddit people these collectible nfts collectible avatars right and all of a sudden they have skin in the game all of

a sudden they're bought in all of a sudden they're cheering on nfts because they now have a way to profit from it right and like it's just a simple incentives game at the end of the day there's a there is very few people who are actually ideologically opposed to digital Collectibles to nfts and what I find funny about the Rebrand is that if people were buying say skins on Steam for example uh and those things were rebranded to be nfts would they automatically hate them because they're now called nfts instead of digital Collectibles which really are the same same thing when you really think about it one I mean obviously the nfts are different a little bit because they're on a blockchain but I mean we're at the core of it it's the same thing it's a digital collectible right so when you

think about it like that is it really just a branding thing at the end of the day uh I I think so I think branding getting these people to have skin in the game really does change their perception and their opinion of things and as I said there aren't very many very many people who are actually like properly ideologically opposed to nfts or to crypto in general they just want to be able to profit from it just like they feel like everyone else has and the funny thing is is that they feel like everyone else has profited from it but if you go on crypto Twitter especially over the last I guess 10 months you know all of this year everyone's been complaining about not making any money especially in the nft crowd there's a lot of nft projects that have gone down substantially from their highs and a lot

of people that bought in that are just underwater now but then if you go to Reddit it seems like people are just angry that these other people make money I'm like yeah okay not everyone made money some people did but it's just funny when you look look at it like they look at the two different communities of of crypto Twitter and of of Reddit and then you look at the different tags that people have and the different feelings they have towards things uh it doesn't really fit in with reality a lot of the time right but still really really cool to see that uh that Reddit is growing here in the nft digital collectible Community these avatars are actually quite awesome I hadn't had a look at it yet because I actually used the um the old Reddit interface so I use a a Chrome

extension that automatically redirects all the Reddit links I go to to Old Dot Reddit because I much prefer the old interface to the new one the new one is just got too much going on but I switched to the new one just to check out this uh sort of stuff happening here and you can set your own avatar with these nfts you can buy and sell them on openc stuff like that which I thought was really cool I think that that's a really cool way to I guess get people involved with digital Collectibles and get people involved with nfts without them even knowing that they're getting involved with it and you get given one for free from what I could tell as well you can Mint one for free which I thought was was pretty cool and then you can can trade the rarer ones obviously

and buy and sell them and people will speculate on them now that crypto Twitter is on it definitely there's going to be a lot of speculation there but still I think it was just like a cool example of what's possible here and some of you may be wondering uh you know is an arbitrine partnered with Reddit as well they are but for their Community points thing not for the nfts the nft stuff is on the polygon PLS chain uh and the community points is on arbitrim so Reddit seems to be pretty forward looking with their I guess um web 3 or crypto strategy they're going for the various ethereum scalability solutions that exist today which I think is really really cool uh but yeah enough on that one there's another thing about nfts that I want to talk about which was an update that Apple pushed through here so

Apple has updated their App Store review guidelines to prohibit nft as a means to bypass Apple's in-app purchase mechanism apps may allow users to view their own nfts provided that nft ownership does not unlock features or functionality within the app what this means is basically Apple takes a cut from every in-app purchase or every app store purchase uh which includes the in-app purchases and that cut is 30 and they've been sued over this cart they've been taken into court many times over this they've been a lot of questions around uh Anti-Trust issues with this and the fact that Apple basically has a duopoly with Google and the fact that they take such a massive cut of Revenue here seems very exploited exploitive but I'm not going to get into all that what I want to get into is a deeper discussion here

about this so as I said Apple and Google have a duopoly here and because of that dwoply over the mobile market I should say right and because of that it leads to a lot of perverse incentives we have IOS we have Android and obviously Android there's a lot of different flavors on it of it right Samsung has their own version of it Google has their own with the pixel devices and there's a bunch of other brands out there but when it comes to iOS it's really just apple right like apple makes the Iphone the iPhone has iOS on it and that's it right there's no iOS is not open source it's not something that anyone else can use on their own devices it's apple and apple locks down that ecosystem as much as they can because they know the value is the ecosystem and they're actually to

the point where they won't uh share iMessage with Android because they know that people buy iPhones because of iMessage and there is actually this meme that exists that um people look down on other people because they don't have the blue colored bubble on the text message because green is a normal text message in the uh in the messages app on iOS and blue is iMessage so if you have blue you get all the features of like being able to see when they're typing a message being able to see when they've read a message stuff like that right the enhanced messaging that we that we're all used to from other apps like messenger and WhatsApp things like that but vanilla text message doesn't give you that and that's what Android is stuck with because it doesn't have access to the iOS message a message app right

um and now Apple has done that on purpose as I said because they know that people will buy iPhones just to access iMessage so because of that uh that's one of those perverse incentives that I talk about there I I think Apple definitely does this a lot more than Google does with Android because Android is inherently a lot more open than uh than iOS is uh and apple as I said I've been taking a chord over this and there's a bunch of issues around this now they're coming down and clamping down on nfts because people are using nfts to bypass that fee so for example if you had an in-app purchase in your app where you could buy an nft and that nft ownership would prove to the app that you bought the premium version of that app for example that would bypass Apple's 30 cut that they will take from

the normal in-app purchase that would go through the Apple system now Apple's obviously banned that because that is bad for them like that means that people can bypass that 30 uh um take that they want to take on all those purchases which as I said I think is bad for competition it really is hard to fight against because Apple has such a tight uh noose around their their own ecosystem and you can't really do much around that and Tim Sweeney here from epic games who has been or who have been suing Apple over this oh sorry I have sued Apple over this before I quote tweeted this and said to cryptocurrency enthusiasts this means apple is now adding a 30 tax on your so-called true ownership of digital Goods to cryptocurrency detractors this shows Apple's motivations are only money for digital items they support nfts they tax

and ban nfts they don't tax I think tax is the wrong word here to be honest and but that's another discussion I'm not gonna get bogged down in that but what this also means is that because they're taking this 30 cut on nfts it makes nft trading on uh iOS just cost prohibitive because imagine you buy an nft and or automatically you have to pay a 30 cut to Apple well you're already down 30 on your investment right because of the fact that he says that uh if you go to resell that well uh I mean there's actually a good example here I'm not going to do the math in my head because someone replied and said uh a 30 tax on all trades of virtual Goods means that unless it appreciates 40 or more between trades every transaction drives its value to zero dollars with apple

devouring all the value so if you buy a one thousand dollar skin if you sell it at one thousand dollars you've lost three hundred dollars and Apple has made six hundred dollars yet no value uh made at all so it really is extremely um extremely bad for the consumer extremely good for Apple this is not scalable that doesn't work at all it's very unworkable so what does that mean for crypto more broadly well it means we need to find ways around this sorts of stuff there is something called backpack which is um an app that was I believe building on Solana but they also want to build on ethereum that has this concept of xnfts which are basically these things that allow you to uh have nfts as apps uh on on um the different mobile devices especially iOS and you can save it to

your um your uh your home screen for example and you can basically use this without needing to go through the App Store so it's basically like bookmarking on on Chrome for example bookmarking a page to your home screen and being able to access it like that the concept of X nfts I think takes that to the next level um and I am not an expert on them so I'm not going to bother trying to to explain it like I'm five but you can Google it to to check more about that uh but yeah I I mean I don't I'm not surprised by this this is just Apple being Apple but again because that duopoly exists we need to break it somehow and it's very hard to I know you know speaking of Salon I know they try to do Solana phone um but guys like the reason why Apple

and Google have a duopoly here is one at the end of the day operating systems have never been very open I mean you have uh two dominant operating systems in in personal Computing right you have uh windows and you have Mac OS you also have Linux on the server side but hardly anyone uses Linux as a desktop right like I mean okay it's been the year of the Lunas desktop every year since Linux existed but Linux is very very popular in in back ends right in servers it's not very popular on desktops whereas Windows and Mac OS obviously dominate there that's a duopoly that exists there but that's simply because it's very hard to make an operating system that people actually want to use right people can use uh and things like that tend to centralize anyway over time uh just based on a power law effect and on top

of that what's even worse for for mobile is that Hardware is extremely hard to do at scale with mobile and many many companies have tried their hand at this and failed right because in order to make it profitable to make mobile devices uh you have to make a lot of them right you have to sell a lot of them to break to just break even and then to turn a profit it's even worse and as I said before you can only do this using Android you can't do this using iOS Apple will not allow you to do that it's closed Source only uh iPhones um or Apple devices can run iOS Mac OS you know watch OS all those different things that they have um and and you know but and that is makes it even worse as I said at least with Windows right uh and even with Mac

OS you can run it on different Hardware you can't run iOS on different Hardware I mean you can try those jailbroken versions and stuff like that but it just it doesn't really work right whereas Windows runs on all different types of uh of Hardware same with Linux Mac OS can as well I've seen people do these uh different uh kind of Mac OS on different different Hardware than an Apple product but when it comes to iOS it's definitely much more locked down right so yeah that's my general thoughts on this sort of stuff it's not going to be something that's easy to break as I mentioned Selana was doing their phone but as I said like it's very hard to do a phone for all the reasons I just outlined and I don't think this line of phone is going to succeed at all uh it was

basically a Rebrand of another failed manufacturer of a phone company um so yeah it's it's very it's a very difficult issue not something that's going to get solved overnight uh but uh yeah we're gonna definitely keep an eye on that and try our best to get around that all right so another tweet here from Jane who also reported on the Apple stuff uh about Twitter so apparently Twitter is working on a quote-unquote wallet prototype that supports crypto deposits and withdrawals so it seems Twitter is taking their Integrations with crypto to the next level so for those of you who don't know right now Twitter has uh Integrations with nfts and you can basically put an nft as your profile picture on Twitter and you get a unique hexagon uh uh border around your profile picture and they've also been

working on I guess like a crypto wallet for a little while now but apparently they're working on a full-blown wallet prototype that supports crypto deposits and withdrawals now will they support uh swapping within that wallet we'll have to see them will they use a third-party service already to do that swapping I mean they would have to because if they want to do on-chain swaps maybe they use metamask swap for example maybe they use some other aggregator maybe they make their own maybe Twitter gets into the decentralized aggregator space I don't think they'd do that maybe I think they would just uh take advantage of what's already there but that's pretty it's a pretty big thing if if Twitter natively integrated a wallet into the uh into the service into the app I think it would bring in a lot more people uh just like our Reddit nfts are bringing in a lot

more people and that's what it's all about at the end of the day bringing people through different means not just the same means that we're used to uh within crypto but yeah I'll keep an eye on this and let you guys know uh if there's any more updates around this all right so I put out a tweet uh just earlier today where I said you know when you go to a new country as a tourist and everyone is trying to scam you because they know you're a tourist that's what it's like for noobs in crypto I've thought about this for quite a while now and it just becomes true and true out every cycle that I go through like think about and and the reason why I think about this a lot is because whenever I look at someone who maybe knew what a crypto and then they're getting involved

with these I don't know other chains other l1's other projects that I look at and I'm like okay that's either a scam or it's just a really poorly thought out project I look at that and I'm like why does anyone even support this and then really it's just newer people at the end of the day supporting this because they're getting scammed or they're getting grifted on or they're getting uh the their attention uh stolen by these projects because these projects know how to to work the crowd so to speak and a clear example of this is the cryptocurrency subreddit I went to that subreddit today because I wanted to see if they were talking about Reddit nfts which of course they were but I went through what was on there and I was like what the like what like it's so completely different to crypto Twitter

that I'm used to that look my my crypto Twitter my my Twitter feed is just like night and day difference between my Twitter feed and the Reddit cryptocurrency section and I look at that I'm like so when people first get into crypto what are they exposed to well they're exposed to the cryptocurrency subreddit that's one of the most popular right they're exposed to crypto YouTubers who uh I mean I know I'm one of them but like most of them are literal just kind of dog right they're just the worst information you can get but how does a new people a new person to crypto know that right how if no one's tying them that then how are they gonna know that and the analogy that I used in my tweet was that when you go to a new country and you've got no idea what's going on right you have

no bearings you have no friends there and uh you're in a cab for example and the cab driver takes a route around the city uh the long way just so they can charge you more how are you going to know that right like unless you're paying attention unless you're looking on your phone um you're not gonna know that they're taking the long way around they're not you're not going to know that they're scamming you right and that's just a basic example um same with things like uh if you go to a restaurant they charge you for water right when they're when they they should just be giving you water for free like tap water not bottled water I'm just talking pure tap water and they're charging you for it right um that's just another way that the uh that they take advantage of tourists and

there's obviously the tourist traps of gift shops and stuff like that but it's very akin to what happens in crypto when you're new you've got no bearings you have no idea what's going on it's basically like entering a new country and uh people are offering you these things and they're they're taking advantage of you because they know that you're new to crypto and I think everyone has to go through this as a first cycler uh there's very rare where I'll come across the first cycle out that actually uh understands all this from the get-go because it's just it's not something you can really teach it's definitely something you have to experience yourself some sometimes people are like in disbelief when I tell them about this I'm like they're like how do people fall for this stuff like how are there so many scams I'm like

because there's money involved guys like at the end of the day people can become very convinced sing I mean if you're if you have someone who's uh relatively charismatic and uh and Promises things and is is uh no stranger to lying through their teeth and and can do that confidently well you can fool a lot of people and we don't just say this with crypto we see this with politics all the time there's a reason why a lot of politicians are very smooth talking right then they can lie with confidence uh they have that ability to do that and they're and they're very popular as well um and it's form of populism too right that uh that has definitely been uh creeping up more and more over the last few years in in the world but within crypto popularism populism is very very uh prevalent especially like as a

classic example dokwon from Terra dokwon's a perfect archetype of what I'm talking about here someone who spoke confidently about uh about Terror on everyone else you know had a loyal following behind him had a cult-like following behind him and all the noobs coming into crypto thought he was a guy thought he could do no wrong thought he had all the answers well obviously it turns out he didn't right it turns out it was the complete opposite of that but I know no matter how many times I told people that or warn people about this they either didn't believe me or they thought I was just being alarmist about it and then we saw what happened right so I just think this is something that people need to keep in mind and need to need to keep top of Mind especially if you are newer you can still easily fall

into these things even if you've been around for a couple of years because a lot of people in this industry can make projects sound like super appealing make them sound like the the best thing ever make them sound like they're actually going to succeed and and token's going to make you rich but don't get caught up in that do your own research as they say make sure that you're aware of your own biases and make sure you're aware of dissenting opinions on something and don't just dismiss them these dissenting opinions especially if they're coming from people who are usually very honest don't just dismiss it outright listen to what they have to say formulate your own views on that your own arguments your own for and against and then go from uh from there all right so fire finally went live I spoke about this obviously over the past

couple of weeks yes but fire the uh the um I guess like sister extension that you can use coupled with metamask is finally live and they went live with a really really cool uh little game here so if you go to the fire website which maybe I'll be able to to load it up yeah I already played the games on on sasol.it so I wonder if I'll be able to play it again but if you go to the join fire dot XYZ website and you've added it to Chrome you add the extension to Chrome you can go up to the top right here and click mint the fire nft so I already minted it but basically what this is is that there's five cards here and each card has a image attached to it and an nft attached to it and when you click on it right when you click on one

of these cards it'll pop up you can't see it on my screen but it pops up with a normal metamask transaction and then on the on the left it pops up with the fire extension that basically shows what's happening and the metamask uh uh interface won't actually show me what I'm actually going to get it just says mint you know it tells me the gas fee that I'm going to spend and that's it whereas fire and as I said you can't see it on my screen but what it's displaying in front of me is that it basically says here's what's going to happen the assets out you're going to use eth to Mint this thing uh but the eighth is only going to be used for gas there's no e there's a free mint right the 80s only used for gas you're going to get Assets in and

that asset in will be an nft and it actually shows me a picture of the nft I'm going to get now I clicked on the first card here and the nft I'm going to get is one that's uh instead of fire it's got wrecked as the text and it's got a poop emoji on it so I can decline this transactional reject this transaction and then try my luck at another one until I get the fire one and how will I know that I've gotten the fire nft well it shows me in the fire extension I thought this was just like a genius way to show the value prop of the fire extension here uh and I honestly guys like I think this is really really cool I think this is actually going to help a lot of people to avoid scams to stay safe to be able to see what they're

actually doing and what how they're actually interacting with the chain instead of just having all this mumbo jumbo that that metamask gives you so yeah I mean as far as I can tell the fire extension is safe as I said like always um I always use caution when installing new extensions and stuff like that but uh it seems that a lot of people have installed it a lot of people have used that it seems very it seems safe but I can't guarantee that it's safe I think it's open source as well I don't know if uh if I've got the link handy here uh but uh but generally you can see my wall here connected sasol.heath but generally yeah I always exercise caution around this um but yeah it seems to be okay seems to be uh running really well and I like the way they they launched it so yeah you

can go check out this I'll link it in the YouTube description below uh I'll link the Tweet where where it seems to have gone away uh yeah uh it's yeah yeah I'll link the tweet in the YouTube description below for you to check out all right so uh stani from Ave shared a Arc or an RV request for comments for deploying Ave V3 on ZK sync 2.0 test net so if you are involved in the other governance process uh don't don't miss this uh but basically this was shared by Mata Labs the team behind ZK sync to get Ave on ZK sync 2.0 uh the 2.0 test net and ZK sync 2.0 mainnet is launching very soon as well so obviously they want to get ahead of it here and get Ave on the ZK sync 2.0 main net as soon as possible so very cool to see this Arc to

go check it out I'll link in YouTube description and finally here we have a non-stack on Twitter sharing a bunch of resources about how to learn uh about ethereum development for free so if you're interested in becoming an ethereum developer well these are some resources to check out which are linked here by non-stack but I'll link these in the YouTube description below for you to check out for yourself but I think that's going to be it for today 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