StarkNet Alpha in November, The Merge updates & more - The Daily Gwei Refuel #223 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily great review where recap the latest news in ethereum ecosystem i'm your host anthony sosano and today's the 5th of october 2021 all right everyone let's get into it so this is going to be an exciting refuel today holy crap there's a lot to get through so let's get right into it uh i put out this tweet today where i said the merge is coming now i know i spoke about this yesterday the eighth one to e3 merger this image here this picture of these pandas kind of merging together this was put out by xiaoweiwang you know a few weeks ago now i think and i just think it's a really really cool meme so i appreciate it but i shared it because for those of you who have been paying attention to i guess like twitter over

the last 24 hours and all the tweets that i've been retweeting you'll have seen that a lot of the clients are now talking to each other now there's a bunch of screenshots here you can see tim baiko shared one about the progress of amphora which i think is a devnet uh for the for the um the merge as you can see here uh they're on kind of like m3 which i'm pretty sure is kind of i guess like um it's a milestone tracker here so you can see the amphora client milestone tracker all the clients are kind of like talking to each other doing great things here as part of the merge and then i mean there's so many screenshots i retweeted them all like basically uh geth and teku kind of like following along merging uh you have the one an update from justice here who said

uh sigma prime or lighthouse and geth make a merge transition over the network hitting another milestone uh then we're going through here uh lion from chain safe uh where they had more clients talking to each other here lodestar reached m2 plus m3 milestones one-to-one interrupt with execution clients which means uh basically interoperability with the eth1 clients the execution layer clients like geth and stuff like that um i think i'm looking for here's another one here from adrian sutton i think this might be the same one before i opened it twice um there's one here from marius who says uh do you know he goes alpha league don't buy any more mining hardware on the left is geth running post merge top right is a lighthouse beacon node and bottom right

is a lighthouse validator so i mean i'll link all this in the youtube description but these are just like screenshots coming out and all these people are core developers like tim biker is part of the core developers on the eth1 side kind of like um on the execution layer side kind of like leading the efforts there adrian sutton works at uh uh works at with pegasus um on the uh that builds the tekku clients um jessic as i mentioned yesterday is working on nimbus at status uh uh lyon here is working on uh the load stack line at chainsafe uh marius is working on geth uh obviously at the ethereum foundation and yeah i mean this is just great i mean the amount of progress that's being made on the merge over the last i guess like 24 to 48

hours is giving me maybe too much confidence but giving me a lot of confidence in hitting the q1 kind of like launch window here if we can get a test net up and running or like a few test nets up and running and have a long-lived test net for you know uh for a little while this year then i don't see a reason why we can't have the merge car uh you know the merge happened by by march of next year i know we're in october and that's only six months away but i don't know the progress that i'm seeing is in may amazing it just seems like everything is working really smoothly everything's going really well and i'm getting the same feeling i got when i saw this happening for the beacon chain last year where all the kind of like client uh clients got together as

part of this interoperability event all the e2 client teams got together for this interoperability event and we had them all kind of like talking to each other there was amazing progress being made they were they were all sharing screenshots on twitter and then we had the kind of test nets go live the long live test nets go live and i think you know six months later we had the beacon chain main net uh happen so i'm getting the same feeling guys like and i'm telling you now like i can i can see it happening in q1 now don't quote me on that please because giving dates in ethereum has been notoriously difficult but you know you have uh it's so close like even if it takes to the end of q2 for whatever reason that's only nine months from from now it's really not that long

in in the grand scheme of things and we have so much happening uh up until then anyway i'm gonna go through all of it um in a sec but uh i'm pretty confident in q1 at this point but we'll have to wait and see just wait and see what comes out of this what more information gets published you know what the the core devs kind of say none of them are giving any kind of like dates or launch windows at this point they all know they want to do it asap for a multitude of reasons i think the biggest reason is that we just want to get it done right like get it out of the way because everyone knows that it's it's critical to ethereum's roadmap and then once it happens we can start working harmoniously as a single ethereum network again and start looking forward to upgrades

like sharding and statelessness and stuff like that that can be implemented uh but you know and and also getting off proof of work is a huge kind of i guess uh motivation for these teams as well uh you know no matter what your view on proof of work is the ethereum ecosystem doesn't view proof of work very favorably at all we think it is insecure we think it is wasteful we think that ethereum's people of stake mechanism is infinitely better than it for a number of reasons uh and of course the thing that i think a lot of people are excited about uh outside of maybe the maybe the core devs are excited about this too but the general community is that triple harvening event that's going to happen once the merge goes through that 90 instant issuance reduction that is you know incredibly bullish for the eighth price right like

uh you know it's funny because people often debate will the eth price crash when the merge happens because it'll be like sell the new kind of a sell the news event and that may happen but i could imagine a scenario where eth goes to like 20k or something by the time the merge happens and then crashes to 10k or something right i don't know like i'm just giving some some wild kind of like prices right now but i can imagine a scenario like that happen happening and if that happens it's like kind of like well whoever bought at like these price levels would you even care at that point so i don't know it could be a sell the news thing depending on how much how much hype there is i think there's going to be a lot of hype to be honest i think a

lot of people are beginning to understand that we're going to have like a massive issuance reduction the emerge more generally is just something that's a really massive kind of narrative and hype and i've discussed before about how every time ethereum does one of these major upgrades the last one was one five five nine um obviously the next one's going to be the merge uh we kind of like de-risk ethereum for the more institutional and the more kind of like bigger investors who kind of see this and like okay well it's safe to park my money in this or safe to park kind of like my clients money in this and who knows maybe by the time the merge goes through we'll even have like an etf for eth like if bitcoin gets an etf i think ether's very very close behind um i mean like in the next six to nine

months so much can happen like the la2 rollout is going to be continuing and adoption's going to be skyrocketing there which i'm going to talk about in a sec but not just that like if the price of eth continues to go up over over the you know the coming months which i expect it will uh that adoption follows that and we we finally have a lot of these layer twos live now that we can onboard these new users to so i i don't know guys like i am so pumped for the next like six to 12 months especially within ethereum and obviously beyond that but the next six to 12 months is going to be as i mentioned yesterday the golden age of ethereum like there is not in my mind there is probably not going to be a more exciting time to be in the ethereum ecosystem

than it is right now i have never felt this excited about it even back in like 2018 and 2019 and 2020 where things were really happening like obviously 2020 we had like a massive explosion in kind of default activity the the east price went back up and broke it kind of um broke prices i hadn't seen since 20 2017 when it was going up and obviously when it was going down in 2018 um and it was just like it was super positive back then but it's honestly the feeling that i had back then is nothing compared to what i feel now it feels like so many years worth of effort and work is coming together so like at the same time and so beautifully and just at the right time as well where we're actually on boarding millions and millions of people through things like

nfts and of course d5 and stuff like that and crypto gaming it's all coming together and the ethereum ecosystem is ready like it is ready we're just we're on the cusp right now so and on that note i think i should talk about the biggest kind of like the big layer 2 news today which happened just an hour ago starkware has announced that starknet alpha is hitting mainnet in november november this year not 2022 this year the reason why this is so exciting um just to give some context here people thought that it would take two plus years a couple a few months ago for uh starkware to get this tech to mainnet or for like um generalized kind of it's like zk roll-ups and and kind of like validiums

and volitions and stuff like that getting to maine and by generalized i mean being able to build whatever you want on there and having interoperability kind of like what arbitrary optimism have today uh no the alpha's going i mean it's on it's an alpha it's it's a very early stage but it's going live on mainnet in november and obviously starkware already has plenty of apps live like dx mutable x uh so rare and um i'm forgetting one right now diversify uh they're all live they're all working extremely well dydex has seen explosive growth but i mean i didn't even expect it to come this soon i thought they were gonna launch it probably january february next year but they seem to feel ready to launch this onto mainnet in november which i don't know guys like this is this is absolutely massive and uh kind of like their launch

is very similar to what arbitrary did that's it sorry to what optimism has done where it's kind of like a permission smart contract deployment so there's gonna be a white list uh obviously arbitram doesn't have a white list but they did for for a little while but now they don't but i think this is closer to what optimism has been doing um and you know on top of that there's going to be a bunch of other kind of things like improved contract functionality uh warp which is the solidity to cairo compiler development nevermind will be available apparently which allows you to transition from solidity contracts to stock net smart contracts that's one big thing that i think is um in the in the kind of like optimistic roll ups favor right now and why i believe they're the kind of like medium term solution still

because uh it's evm compatible whereas stock net is not necessarily evm compatible it will just let you kind of like transpile your existing contracts to their cairo language to work on stock net but obviously that's going to take longer for teams to kind of adapt to and teams to kind of like roll out on but we've seen what happens when they do it like these apps are absolutely massive on starkwear already uh and uh they've got a few more details in here about kind of like the fee mechanism uh the security so i guess like the fee mechanism will be turned on as soon as account contracts and token contracts are added to stock net alpha all transactions submitted to starknet will incur a fee designed to cover l1 and off chain gas cost tr i don't know how much that fee is going to be but i'm pretty sure it's

going to be very cheap there and then you can have security here as well the network will be upgradable of course without any time delays very very similar to these other kind of like l2 uh constructions that we've seen go live as well um i mean there's more info on this blog post you can go check it out but guys i i seriously cannot tell you how big of a deal this is like as i said people thought this was years away from coming to maine and as i've been going on about lately and i've been referencing a lot of polynomials work uh this stuff is just coming much sooner than people think it is and and cycle is not the only team working on this uh polygon's working on it with hermes uh zk sync is working on this with zk porter and zk sync 2.0 i should say mata

labs that's the company behind zk sync and then arbitrary and optimism are also looking at zk technology you don't just think they're just kind of like sitting there and being like oh we're just gonna like uh not look at this at all we're not gonna build any tools here they're of course looking at it and building stuff around it they just haven't kind of like announced anything official yet but i'm sure they are um and you know i kind of get irked sometimes when people say oh you know what's the point of kind of like optimism and arbitrary now are they you know they're kind of like finished you know zk rob is going to take over that's not how to think about this ecosystem guys it's not zero sum when it comes to the l2 space as i've mentioned on the ratio before we are

entering the very beginnings of the l2 era we're going to see an explosion of these things there is going to be more l2s than there have been l1 and there's already too many l1s right most of them won't succeed in terms of getting adoption but the thing is that doesn't matter what what matters is that we're going to have so much innovation so much stuff happening so much activity happening just i mean an incredible amount of it and it's all going to be fitting into the ethereum ecosystem so like i know that people love to call me an eth maxi for saying this but ethereum is one like if you can't see it at this point i don't know what to tell you ethereum has already won none of these l2s are going to want to secure themselves on other networks because why would you do that like unless it's a

pure data availability network like the polygon of veil or celestia or something like that why would you um kind of secure yourself on a less secure network than ethereum as i've mentioned before the only other network that can be considered on par with ethereum security is bitcoin but bitcoin can't verify uh verify stocks and can't do and can't do data availability so from that point of view i mean i i don't know i just ethereum has one guys like i've said this for a long time now this is exactly why because these l2s are going to basically obliterate the other l1 they're going to be much more secure than them and even the uh kind of like ones that trade off a bit of security like the volitions and the validiums are already better in scaling wise than these kind of like monolithic l1 as polynomial likes to

call them and the reason why i talk about polynomial a lot actually is because they were able to kind of i guess completely change my mindset around this like i obviously have been talking about layer 2s for quite a while but i i wasn't thinking about it in the terms of kind of like modular block chains where you have blockchains that that do security and data availability or one of or one of those uh and then you have uh execution uh off chain right you have the kind of like execution done on l2 and just thinking about it like that really opens your eyes to the fact that holy we can do all the hard stuff off chain but still inherit the security from layer one uh and the best layer one there is right now and probably for the foreseeable future is ethereum because think about all the

other layer ones they're never like in my eyes they're never gonna be as secure or as decentralized as ethereum it's pretty much impossible for that and ethereum is a moving target it doesn't just sit sit still and do nothing ethereum security and decentralization is only going to get better over time once we do the merge ethereum security upgrades itself by like at least a 10x like probably more than that we have much more capital securing it we have a proof of stake system that i would argue is much better than an ethereum's proof of work system um and then we and then that improves over time as well i i just like i don't know like people can call me maxie whatever i i am i am an ethmaxy when it comes to being the most secure kind of like uh i guess like security

layer and then data availability layer and then as we add shading we're going to have even more that uh uh space for for data to kind of like um put them put it onto and you know sharding data sharding comes as like the first phase but there's also in the longer term stuff like super quadratic sharding and stuff like that which just allows for even more scalability and then doing uh and then like kind of compressing stuff at layer one as well like snarkifying the base layer there's just so much of this stuff coming that uh i don't see how any other layer one can catch up to it and i mentioned yesterday i think some of the l1 are just going to pivot to being a roll-up or an l2 on ethereum if they don't there's going to be l2s that launch that just obliterate them

anyway and and we've already seen this happen a lot a lot of the time the funny thing is one l2 app diy dx is doing more volume and more activity than all the other l1s pretty much combined so when you take that into as a context there you can already see why we why this kind of like paradigm where the kind of like rollup centric roadmap um has one and it's funny vitalik called this a very long time ago when he posted the roll-up centric roadmap and he'd been talking about this for for a while before then and you know you look at all the smartest people in this ecosystem they're all talking about this sort of stuff they're all talking about specifically zero knowledge tech basically eating the entire crypto space and there's a reason for that because it will there's no kind of a question of

like if it will it's when it will and we're seeing it come to mainnet much faster now um you know especially with stark nets announcement slackways announcement here which is absolutely massive and what was even more massive maybe i guess like not more massive but another kind of like thing that came out of the stark weaker system today was was uri the co-founder and ceo of starkware saying that starkx now averages l1 gas cost is now sub 600 and 650 gas per transaction in production on main net um but then he goes on to say i don't know if this is a typo or not i don't think it is then he goes on to say that volidium is doing 650 gas transactions um on mainnet but rollups are doing 600 gas transactions with dydx batching

has batches of 12k transactions so 12 000 transactions in one batch on layer one absolutely insane right uh and then and then uh lyron here who actually works as a product an ecosystem at starkware he basically says wait what on-chain data with big batches is cheaper than off-chain data with smaller batches uh this like this this follow-up here basically says to me that this is real this isn't a typo now i wanna i wanna explain why this is a big deal i've explained before how volidium sacrifice uh security because they put like the data off chain in order to get more scalability but uri saying that they've been able to get roll-ups which basically put both of the things on chain the proofs and the data on chain so inherit ethereum security wholeheartedly he's saying that that's

cheaper than a volidium do you get the implications of that like that is insane that means that we won't even need volidiums or volitions long term eventually um you know as the kind of like rollup ecosystem matures even more the zk roll up ecosystem matures even more because it'll just be cheaper to be a zk rob than it will to be a validium or volition so just i mean this is crazy right maybe i'm i don't know maybe i'm looking at this wrong but like just considering the implications of this is absolutely insane and if you want to put some numbers to this alexander actually had a great tweet here where he said that's about 10 u.s cents per transaction at 50 gas prices 10 cents 10 cents for these trends these aren't normal transactions either dydx transactions are trades they're kind of like things you will you

would see on um if you try i mean for example if you tried to do a dydx on layer one it would probably cost at least fifty dollars per trade so you're talking about an absolutely insane improvement here probably you know it would probably cost you like three hundred thousand gas um to to kind of do a trade it's only 600 gas on a z uh um on uh the starkware zk roll up this is such a substantial improvement the l ones can't even claim to be able to do this that's why i'm saying these l ones are obsolete they're old technology already they bring nothing to the table um layer two is the future zk starks zk uh sorry starks zk rollups all this sort of stuff that is the future and i mean it's come much faster than we all thought it

would so yeah i know i'm rambling a lot on about here about kind of like i guess like layer twos and things like that but guys like i mean i haven't just these sorts of things just coming in succession we're just gonna see more and more of this this is just insane and you know then i mean i focused on starkwear a lot here but they're not the only one kind of making moves of course like arbitrary announced that they have onboarded another app called idea market which is basically kind of like a they call themselves a credibility layer on the internet but they're also kind of i guess um i i guess a kind of a uh prediction market platform as well uh they can kind of like bet on anything but you can see here that the old gas fees were 50 to 250 per transaction on

on kind of like uh on layer one now on layer two the transaction fees are one to ten dollars basically so pretty massive improvement there uh uh for for idea market and as i said before uh the reason why these things can deploy to arbitrarium is because arbitrary is evm compatible and that you know allows people to kind of like just deploy their existing code onto onto arbitrary which is super exciting but i mean anything that brings down gas costs this much is is amazing for end users at the end of the day i've always said that i think there's like a sweet spot for for gas at least in kind of like the short to medium term because the you know people always say well what about people in kind of like third world countries or poorer countries where they can't even afford like one cent for a

transaction they basically need free transactions we're going to get there but the way technology works is that those people get served kind of like on last right because technology is inherently expensive at the start and then it gets cheaper over time as kind of like economies of scale kick in so same happened with the internet for example like the poorer countries got the internet last but the thing is is they got to skip basically dial up they skipped broadband and they've just gone straight to wireless like some parts of the world are actually just going straight to kind of like our space spacex's satellites that they're putting out there um uh but one of one of our like elon musk's endeavors where they basically skipped the last 20 years of internet kind of like adoption development and gone straight to having a smartphone which is like wireless internet

available to them all the time and practically for free i think it is free to be honest almost like very very cheap um so that's the same thing is going to happen here where we're going to have like obviously really expensive for us early adopters and power users but then over time those costs just come down dramatically and we're seeing this already play out and it's going to happen much faster than i think people think so super exciting to see that um i'm going to give a shout out to pauline again here he was in a thread with a bunch of different people uh including i guess kind of like kyle samani who's a big solano advocate uh evan ssco is a long-time ethereum community member and a bunch of other people but his thread basically talks about or i guess he's back and forth with kyle talks about

zk roll ups data availability how um ethereum is going to scale via l2 is better than solana could ever scale all these sorts of things you can see here i mean this is an absolutely amazing thread i love it like i went through it i read it like a couple of times and i'm like oh god like this is just great i suggest reading this thread i'm not gonna read it on the refuel of course but um absolutely amazing uh gives like a really great breakdown of kind of i guess um everything that i talk about obviously on the refill everything that polly knows talked about in the past and why the future is uh zk at the end of the day all right i get i think i've got a couple more things to go on with scaling yeah two more things about scaling so

immutable x is absolutely exploding in in kind of like activity right now uh so there was a a kind of like a big nft drop on their platform called moody crows um i didn't participate in this nft drop but i am an investor in immutablex just a disclosure there uh but their project sold out in under a minute they did 2.5 million dollars in primary sales 2900 unique addresses participated and i'm pretty sure it didn't cost anything uh they did that they didn't cost anything in fees at all because immutablex has free minting they're kind of covering the fees because they're so cheap uh an immutable x is a validium so off chain data it's a little a little bit less secure but perfect for nfts right like come on uh and then uh brett here who uh who i think is uh uh

basically i don't know if he runs uh moody crows but i think he's just like a big nf2 influencer basically said uh immutable x may have just been the most seamless experience i've had with nfts this is the future i feel like i didn't as i said i didn't participate in this i didn't see this girl live but from the from what i gathered uh it seems like this ran extremely smoothly not just because of what brett said but i saw a bunch of other people on twitter saying this as well you want you don't actually get this from other layer ones to other layer ones have kind of like some clunky uh minting processes they have kind of i guess like very similar clunky design because they're evm compatible so they inherit all the limitations of the evm they still have to basically inherit

things like uh kind of like metamask and stuff like that um and like the ux of that sort of stuff so yeah i mean this is this is great like seriously again another shining example of starkwear's tech at work here because for those who don't know mutablex is using stockx which is stark west tech um devolidium tech there so absolutely amazing um and you know as i discussed the other day immutable has teamed up with with tick-tock so they're just making waves right now it's just absolutely crazy um and then mahalo had put out a great tweet today quoting uh sandeep he's um co-founder of polygon here where my halo says and i quote we believe it will be a multi-chain world but on ethereum uh said son dpr and then mihaela goes on to say proud of my brother for shilling ethereum and

preaching polygons vision to the mainstream audience this was in the financial times actually an article um with with sandeep quoted in there now this is what i've been saying the multi-chain world is not a multi-l1 world it is a ethereum at the heart with multi l2s and some side chains and app chains uh i guess like uh going off of that um that's the next five years guys like i'm telling you right now like you revisit these videos in five years i am 100 confident that i am right in that thesis that we are no longer going to be seeing l1 spin up we're going to be seeing l2 spin up and you know i actually um i was talking to my friend trent van epps today and he gave a really great analogy where he basically said it's kind of like how you don't see um new proof of work chain

spin up these days you know uh the last i guess big fanfare proof of work chain that i think we saw was grin grin is down 99.99 from its all-time high no one wants a proof of work coin anymore the only proof of work coins that really are still around in a big way is a bitcoin and ethereum ethereum's obviously going off that there's stuff like um like dogecoin of course that is still kind of around but dogecoin has its own thing but if you go through the list i mean the next one would be kind of like i guess litecoin but like coin is has kind of fallen off the map no one really cares about litecoin anymore i mean where is liquid actually i i might be blind i'm just going through coin gecko it's number 17. and then after that you know it's very hard to find another

proof of work coin so i think the same thing is going to happen where there's going to be a lot of l2s taking up the top 10 top 20 of um of i guess coin gecko rankings and the uh the monolithic l1 is just going to be put to the wayside they're not going to be something that has a has a kind of like defensible uh kind of like future so yeah we'll revisit this in time of course and we'll see how this plays out but that's where i'm placing all my bets of course all right and even more bullish news ryan watkins from massari put out an update on kind of i guess the value that ethereum has been settling lately so over the past 12 months ethereum has settled 6.2 trillion dollars worth of transactions in eth and stable coins now this isn't counting all of the value

that has been settled in stuff like nfts which as we know has done an incredible amount of volume over the last i guess like 12 months for example and i don't know if this is even counting all the other tokens on ethereum as well so you could say that 6.2 trillion dollars is basically the floor this is a 369 percent uh increase compared to 2020 and was powered by a very strong q3 where ethereum settled 1.4 5 trillion dollars alone now i don't know what visas are kind of like settlement is over the last 12 months the settlement value but i would have to think that ethereum is getting up there right now or or maybe even overtaking it 6.2 trillion dollars nothing to scoff out guys like that's an enormous amount of money and this is only going to keep

growing like ethereum's uh and you know what's funny i don't even know if this counts roll-up transactions either because a roll-up transaction uh uh sorry roll-up proof basically takes all the value that was settled on layer two uh and settles it on layer one or processed on layer two and settles on it on layer one but to the layer one it just looks like a normal transaction that paid some gas fees but if you calculated all the values settled in the l2s and then on to l1 uh like and then it kind of like extracted it onto l1 i mean it's going to be very hard to calculate exactly how much value ethereum is settling but i'm telling you right now in five years ethereum is going to be settling hundreds of trillions if not quadrillions of dollars worth of value it is going to be the settlement layer

that everyone taps into everyone talks to it is going to be so decentralized and secure that no one nation state can control it can take it over i mean god this is why i think that eve is going to a hundred thousand dollars and beyond like you put all this together the growth is just insane and it isn't slowing down either the gas phase hasn't hampered ethereum's growth at all like like and then we have the l2s coming out to kind of like fix that issue with the gas fees for everyday users and they're still inheriting the security decentralization of ethereum i don't know like i i'm trying not to get ahead of myself here guys and i actually said in the discord channel before i started recording this that you guys better get ready because i'm going to for i'm going to probably make you

want to remortgage your house to buy more eth by the end of this refuel i've just ah today's just been a really bullish day that's all i can say at this point but moving on another announcement another kind of like enterprise credit suisse credit suisse is taking part in in tokenizing shares of swiss sports resort of a swiss sports resort using the ethereum blockchain so just kind of like more enterprises getting involved with ethereum settling on ethereum doing things on ethereum like we're seeing more and more of this go along visa the other day credit suisse today uh i mean society generali i think that's how you say it uh the other day as well getting involved with maker ah we're just gonna keep seeing more and more of this happening and i'm gonna go through the rest of these updates because i'm coming

up on time here zappa is having amazing growth as well a disclosure i'm an investor in zappa but zappos monthly active users 640 000 monthly active users that's incredible right um zappa obvious of course doesn't just support ethereum it supports um different kind of like chains as well but i i don't think that matters i think most of their activity is still probably ethereum and ethereum scaling solutions because they support arbitrary optimism and the polygon pos chain and stuff like that and the weekly active users is 300 000 absolutely massive growth insane growth like growth everywhere right now guys like i don't know how you can be bearish at this point like it's impossible for me to be bearish at this point like on anything um but yeah great growth here from zappa uh and yeah i mean as i said institutions are getting

more involved um and corporates are getting and enterprises are getting more involved with ethereum uh the second largest bank in the us the bank of america published a report on crypto mentioning ethereum d5 and nfts they're coming guys they're coming really really quickly this is going to happen much faster than you think it is they you know the funny thing is i was thinking about this today while i was on my bike ride i was like i just struck me randomly i thought web two companies are acutely aware of uh of kind of like being disrupted because they they were the ones that disrupted a lot of the uh i guess um traditional companies that that kind of um i guess didn't exist sorry existed before the internet so kind of like from that point of view i think they're all going to move really

really quickly into the web 3 crypto space and they already have been like tick tock for example and a bunch of other examples like twitter doing nfts on their platform stuff like that but also these kind of like financial institutions they really need to catch up because they're all going to get completely disrupted if they don't and i think that they realize that and they're coming uh really quickly now they're doing reports on it they're trying to understand this market and they're getting there they really are so yeah really really kind of like um exciting news out of that and finally to wrap this refill up today uh uh the ethereum.org translation program has been revamped so if you want to see the update here of how that kind of like oh well kind of like what they're doing milestones and updates here with the

translation program for ethereum.org you can read this but you can also kind of uh and there's also poll ups for people who have participated in translation um but if you want to get involved as well as links in here too uh but yeah go give this blog post a read it'll be linked in the youtube description but i think that's going to be it for today everyone don't remortgage your house to buy eight that was a joke by the way but you know you can't blame me if you buy eighth because of after listening to this refuel i'm probably gonna go buy some now but anyway i'll leave it at that for today thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and

i'll catch you all tomorrow thanks everyone