gm everyone - we hope you’ve all had a great week. If you have any feedback or suggestions to help improve this newsletter, please email email@example.com.
- zkSync 2.0 is less than a month away!
- Breakdown of Beacon Chain deposits
- We published Part 2 of WTF is AA
Now, let’s get into it all! 🚀
🚀 Not long left for zkSync 2.0
zkSync is an incredible Ethereum Layer 2 scaling solution we’ve chosen to use in our mobile wallet. Transactions cost pennies and happen almost instantly. But right now, the network doesn’t support smart contracts, which limits what you can do.
That’s what zkSync 2.0 fixes. And it goes live in less than a month. We’re really excited about this update, as this is when the fun begins.
“Once Ethereum can scale — and truly scale — it's kind of like coming out of Plato's cave and seeing the rest of the world, and seeing these use cases we could have never even predicted.” - Steve Newcomb
To learn more about zkSync 2.0, zkSync’s Chief Product Officer, Steve Newcomb, has featured on numerous podcasts, notably with Bankless and The Scoop. These podcasts go much deeper than zkSync 2.0, with topics like why ZK rollups are the end game for scaling Ethereum and the use cases that will be enabled by Layer 3 being covered. If they won't get you excited about the future of Ethereum, nothing will!
Stay Tuned! Part 3 of our 3 Part Series on the Ethereum Merge drops tomorrow 👇— The Scoop (@TheScoopPod) September 29, 2022
Featuring @stevenewcomb CPO of @the_matter_labs for a discussion with host @Timccopeland and @lawmaster on ZK-Rollups and why Newcomb believes scaling solutions will herald a new wave of innovation. pic.twitter.com/RoeyJ8jduW
🖥 Decentralization matters
When Ethereum transitioned to Proof of Stake, one change was replacing “miners” with “validators”. Validators are responsible for verifying transactions to keep the blockchain moving along. We won’t explain the differences between miners and validators, as you can read about that in our Merge blog. But with this change, critics of Proof of Stake have argued that this would lead to centralization. This isn’t great, as that’s the complete opposite of what blockchains should be!
Luckily that’s not the case for Ethereum. This chart produced by Etherscan shows Beacon Chain deposits by entity, including a breakdown for Lido. What this chart highlights is (1) who's running validators and (2) how much influence they may have. While there are 2 entities with over 10% of deposits, no one dominates. No one group has control. And that’s the way it should be.
📚 What we’re reading
RIP MEV bot - Rekt
Censorship... wat do? The road ahead - Jon Charbonneau
💭 What’s happening at Argent
Account Abstraction (AA) is key to bringing crypto to the masses as it provides a much better user experience, greater security, more flexibility, and much, much more. But we know that it’s a very unfamiliar term. That’s why our co-founder and CSO, Julien, is doing a 3-part series titled “WTF is AA”, where Julien explains what AA is and why it matters.
The second part has just been published and we highly recommend you give it a read. It's more of a technical piece as it explores previous attempts to bring AA to Ethereum and why they’ve struggled to be implemented. The piece ends by arguing that Layer 2s like zkSync and StarkNet give us the perfect opportunity to create the user experience we’ve all dreamed about from the start.
Pt 2 of WTF is Account Abstraction is finally here!— Argent (@argentHQ) September 28, 2022
At Argent, we believe that AA will provide the UX and security we've all dreamed about and will enable the mass adoption of crypto
But why isn't it supported on L1 yet?
Our co-founder @jniset explainshttps://t.co/e7WEDLhSva
🤔 Smaller but interesting news
Here are a few smaller things we’ve found interesting this week:
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Argent Newsletter - Issue #23
Apple wants how much for in-app NFT purchases?!, reversible transactions: threat or foe?, and much, much more
Argent Newsletter - Issue #22
The Merge is finally here, a huge 0.2% reduction in worldwide energy usage, Do Kwon is on the run, and much,much more...
Argent Newsletter - Issue #21
Let the Layer 2 wars commence, Instagram supports NFTs, Vitalik wrote a book, and much, much more...