Welcome to the Protocol, Coindesk’s weekly wrapping of the most important stories in cryptocurrency tech development. I am Ben Schiller, Coindesk’s opinion and contains editor.
In this number:
- Can -based Rollup’s loose ethereum’s problem?
- Lido goes modularly
- Uniswap finally reveals Unichain
- Ethereums Pectra upgrade comes
Network news
Based Rollups for Rescue: In recent years, Ethereum has embraced a LAG-2 scaling card-one plan that encouraged the development of third-party help network called “Layer-2-Rollups” to help scale the base Ethereum ecosystem. Offset activity to these Upstart networks has helped reduce fees and improve speed users, but it has led to a massive, deeply fragmented ecosystem of layers 2s. But while LAG-2 networks all postal data back to Ethereum, they often struggle to communicate directly with each other, which means passing assets and data between them can become expensive and cumbersome. There is also the risk of centralized sequencers: Dependence on company-controlled black boxes to pass transaction data between blockchain layers. As a result, some Ethereum developers push to Rollup technology that takes a new approach to security and interoperability: “Based Rollups.” Based Rollups separate instead of dealing with them on a separate LAG-2 network. SEQUENCE BATCHER MORE transactions and submits them to Ethereum for settlement. Its huge society of validators – rather than a single centralized sequencer. Rollups such as optimism, arbitum, base, zksync and blast have quickly grown to support larger transaction volumes than Ethereum itself. According to L2Beat, there are currently 140 Live Layer-2 networks, but the experience of operating between DE-passing assets and other data between networks has been clumsy. As Ethereum becomes larger and LAG-2 networks become more integrated into its function, which improves communication between LAG-2s-with other words to improve “composability”-has become more important than ever. – Margaux Nijkerk Read more.
Lido goes modularly: The developers behind Lido, the largest stacking service at Ethereum, have suggested to remodel the stacking platform with modular “vaults.” The new framework would introduce Stvaults, a customized component designed to help Lido meet institutions and more complex efforts strategies. Lido currently allows investors to gather their ether (ETH) together and “stick” their crypto – who lock their tokens with the network and help ensure that in exchange for interest. Lido was pioneering Liquid Stake: Users get a receipt on their deposit called Lido Staket Eth (Steth), which they can act at any time. With Liquid Stake at Lido, the entry and end of stake positions became as simple as buying and selling Steth -Tokens. Lido V3’s STVAULTS are “modular smart contracts designed to meet the different and evolving needs of Ethereum participants,” according to a press release shared with Coindesk. The upgrade would enable setups of bets in addition to clip-and-dry fluid setting. Specifically, STVAULTS will be able to help institutional stakes who want to personalize their inauguration setups, node operators who want to attract high -volume stakes, and asset managers who want to create new cases of efforts. “What is important to understand with customizable infrastructure is that you can generally build even more complex products,” said Konstantin Lomashuk, the founder of Lido Staking Protocol. – Margaux Nijkerk Read more.
Unichain finally: Uniswap labs, the primary developer behind one of the largest decentralized stock exchanges (DEX), Uniswap, shared February 13 that its long-awaited LAG-2 network, Unichain, is now live. Powered by optimisms up-stacks, Unichain-as other LAG-2s at Ethereum-coming faster and cheaper transactions compared to Ethereum’s mainnet. Developers can implement apps on the network, which have been optimized specifically for decentralized funding (DEFI) and aims to act as “Home for liquidity across chains”, according to Uniswap Labs. For Uniswap laboratories, the advantage of launching a layer of 2 two-part: It will provide a better experience for users of uniswap and similar platforms, and it will create a new revenue option in the form of network fees. A representative of Uniswap Labs told Coindesk that “about 20%” of the chain’s revenue will go directly to the company. Unichain has been testing since October 2024 and is classified by Uniswap Labs as a “phase -1” rollup, which means it has elements of decentralization but retains some centrally controlled protective measures in this early stage. The network is built on the upstroke, a modular frame that lets developers build interoperable LAG-2 chains based on optimism’s optimistic growth technology. Several well-known teams have come out with their own up-based Layer-2s, including Coinbase’s ‘Base’, Kraken’s ‘Ink,’ World’s ‘World Chain’ and Sony’s ‘Soneium.’ “We expect a world of many, many different use cases, of which trade is a small subgroup,” Adams told Coindesk in an interview. In collaboration with Ethereum Research and Development Firm flashbots, the Uniswap team said it has created a trusted execution environment (TEE) on Unichain, a safe area for more sensitive transactions and is intended to optimize the chain for defi by allowing more advanced acting and faster transaction finality. – Margaux Nijkerk Read more.
Pectra in April: Ethereum developers have officially set test dates for Pectra, the network’s first upgrade in 11 months, which puts it on track for a potential release date for April. Pectra will include a number of improvements – with a special focus on wallets and validators – but it comes in a period of increased control for Ethereum, which has recently been exposed to pressure from its community to focus and catch up on competitors. Ethereum’s core builders decided on Thursday during their weekly “All Core Developers” calls to start testing Pectra on February 26 at Holeky TestNet, with a follow -up test on the network’s Sepolia test network scheduled for March 5. If these tests are to succeed, the developers will restore on March 6 to determine when to launch the upgrade officially. According to Tim Beiko, Protocol Support Lead at the Ethereum Foundation, developers expect the upgrade to hit Mainnet in early April. Pectra-a Portmanteau, representing two separate upgrades, Prague and Electra-clutter eight major improvements to the second largest blockchain. Among the most expected are the EIP-7702, which is believed to improve the user experience of crypto drawing books. The Ethereum Society has been exposed to an identity crisis in the last few weeks. Its native token, ether (ETH), is underpinned against other cryptocurrencies, and competitor networks such as Solana have drawn the attention and talent of the Ethereum-Ecosystem-the first programmable blockchain ever and still the most acted. In the midst of the controversy – much of it aimed at the Etheruem Foundation, which coordinates chain upgrades and is currently undergoing a large leadership rinse – hoping developers that Pectra will help put the network on a stable basis. – Margaux Nijkerk Read more.
Money Center
El Salvador Dispatch
Berlín, a city of 20,000 people, is home to El Salvador’s second Bitcoin circular economy. “Bitcoin City already exists. It’s called Berlín, ”said a resident. Tom Carreras reports.
Linksdao is launched on the base
Linksdao started selling NFTs, but the market has gone on in time since.
Legislative and politics
Hester Peirce, head of SEC’s new Krypto -Task Force, says Memecoins are likely to fall outside the regulator’s jurisdiction.
