Welcome to the Protocol, Coindesk’s weekly wrapping of the most important stories in cryptocurrency tech development. I am Margaux Nijkerk, Coindesk’s Tech & Protocol’s reporter.
In this number:
- Ethereum Validator EXIT -KØ tops $ 2b as Stakers hurries to keep up after 160% rally
- Jito launches BAM to reshape Solana’s blockpace economy
- Ethereum -Validators signalize the intention of increasing the gas limit to 45 m
- Dogecoin could soon verify ZK -proofs naturally thanks to DODEOS PUSH
Network news
Validator exit -queue at Ethereum backups: Ethereum’s Validator exit queue published its longest waiting time on the record, a possible signal rack is looking to withdraw money after a larger price rally in ether (ETH). From Wednesday 09:00 UTC was almost 625,000 ETH worth approx. $ 2.3 billion in line to leave the network, data from ValidatorqueUe.com shows. It is even greater than the amount waiting at the tip of January 2024 that expands withdrawal delays to over 10 days, the data shows. The overload is due to the dynamics of Ethereum’s Proof-of-Stake model that limits how quickly validators can join or leave the network. Validators are devices that stick tokens to help secure blockchain in return for a reward. Exodus is probably due to profits of those who stabbed an ETH as the price was much lower and now pays out after it is collected 160% from a beginning of April. “As prices rise, people are unstore and sell to lock the profits,” said Andy Cronk, co -founder of the Figment of Staking Service. “We’ve seen this pattern for retail and institutional level through many cycles.” Unsteady spikes can also occur when large institutions move depotmen or change their wallet technology, he said. – Krisztian Sandor Read more.
Jito launches Block Assembly Marketplace: Jito Foundation introduced Block Assembly Marketplace (BAM), a system aimed at improving how blocks are built and transactions are sequenced on Solana Blockchain. BAM is designed to make “transaction sequencing transparent and verifiable”, while enabling programmable innovation at the blockpace layer that unlocks new revenue options for developers and reduces the harmful effects of maximum extractable value (MEV). The launch is based on Jitos established infrastructure, including its widely adopted Validator client and the Jito Block engine. BAM introduces a modular architecture with three key components. BAM nodes are specialized planners who privately organize transactions using Safe Hardware. BAM Validators runs the updated Jito-Solana software client and receives the ordered transactions from the nodes and performs them on-chain. Finally, plugins will offer developers, dealers and applications a programmable interface to interact with the planner, enabling customized transaction logic. According to the team, BAM will start on Mainnet in the coming weeks with an initial set of validators led by Key Solana Ecosystem participants such as Figment, Helius, Sol Strategies and Triton One. – Margaux Nijkerk Read more.
Ethereum -Validators start to increase the gas limit: According to the dashboard’s gaslimit.pics, 49% of validators stabbed ETH from July 21 that they are to increase the gas limit to reach 45 million units. At Ethereum, gas is the device measuring the calculation work required to perform transactions or smart contracts. Each time a user interacts with blockchain, they have to pay a gas fee that covers the cost of using Ethereum’s computer resources. This ensures that users pay in relation to the complexity of their actions. Each block at Ethereum has a gas limit which is the maximum amount of gas that can be consumed by all transactions in this block. If the total gas needed for pending transactions exceeds the limit of the block, some transactions are exposed to future blocks. Because the space is limited, transactions compete for admission, and those offering higher fees are more likely to be included first. The gas limit was last raised in February when it was set to 36 million. It was the first time since 2021 that it had increased after more than half of the validators on the network supported the change without needing a hard fork. – Margaux Nijkerk Read more.
ZK -proof on Dogecoin?: Dogecoin may have started as a joke, but this upgrade is not one. DOGEOS, the application developed by the Mydoge-Tevebogteamet, submitted a formal proposal to the Dogecoin core that introduced a new OPCODE to enable the network to verify zero-knowledge (ZKPS) naturally. Developers aim to transform an unused part of the script system into a tool that can verify cryptographic evidence, starting with ‘Groth16’ (a particular type of proof widely used in ZK systems) and enables future upgrades. This would allow Dogecoin to support more advanced applications outside the chain, such as rollups and smart contracts, while maintaining the head chain’s speed and simplicity. The procedure is modular because evidence systems can be selected and the OPCODE behavior is strictly opt-in. If the proof verifies, the script continues; If not, it fails. Old nodes remain compatible and treat the upback of a no-up. No surprise forks, no World Cup -Business. – Shaurya Malwa Read more.
In other news
- The polymarket, the cryptocurrency-driven prediction market that recently achieved a billion dollar valuation, decides whether to introduce his own custom stableecoin or accept a circuit sharing agreement with a circle based on the amount of USDC held on the platform, according to a person who is familiar with the plans. Polymarket’s motivation to create its own stableecoin is simply to own the dividend-generating reserves that support the large amount of Circle’s USDC dollar peg-token used to make bets on the popular bet, the person said. A representative of the polyming field said no decision has been made. – Ian Allison Read more.
- Sharplink gaming (sbet), ether (ETH) Treasury Company led by Ethereum co-founder Joseph Lubin, continued his purchase of Spree and brought the total holdings over $ 1.3 billion. The company said in a press release on Tuesday that it bought 79,949 ETH during the last week at an average price of $ 3,238, its biggest weekly purchase. With the latest acquisition, the company held 360,807 ETH per. July 20 to a value of approx. $ 1.33 billion at current prices. The company still has $ 96.6 million of funds collected by selling shares through its equity in the market for more ETH purchases, the company says. – Kristzian Sandor Read more.
Legislative and politics
- President Donald Trump fulfilled part of his promise to establish US crypto regulations and sign legislation in the law that formally laid down rules for stableecoin issuers – marking a first step that industry in digital assets hopes will end up with the more important regulatory regime that controls the wider crypto markets. Before a multitude of crypto leaders in the eastern space of the White House, a jubilant Trump signed the guidance and the establishment of national innovation for us stableecoins (Genius) Act, which recorded a massive 308-122 Bipartisan vote in the House of Representatives Thursday and a former 68-30 vote in Senate and Industrial leaders, including Coinbases Brian Armstrong Paolo Ardoino, Circle’s Jeremy Allaire, Geminis Cameron and Tyler Winklevoss, Kraken’s Dave Ripley, Chainlinks Sergey Nazarov and others. – Jesse Hamilton & Nikilesh they Read more.
- The US Senate Marsjerer in his efforts to create rules and regulations for the vast majority of the crypto market, releasing a draft discussion of a market structure bill that more clearly defines some of the frameworks considered by the legislators. The 35-page draft released Tuesday formulates new definitions for digital assets that are not securities, and instructs Securities and Exchange Commission to participate in a decision on these assets that would exempt them and their issuers from existing rules. The bill later instructs SEC and Commodity Futures Trading Commission to participate in common regulations on certain aspects of crypto market activity, such as portfolio margining. – Nikilesh they Read more.
Calendar
- 22-28. September: Korea Blockchain Week, Seoul
- 1-2 October: Token2049, Singapore
- 13-15 October: Digital Asset Summit, London
- 16.-17. October: European Blockchain Convention, Barcelona
- November 17-22: DevConnect, Buenos Aires
- 11-13. December: Solana Breakpoint, Abu Dhabi
- 10-12. February 2026: Consensus, Hong Kong
- 5-7 May 2026: Consensus, Miami
