Author: Michael Johnson
Following up from Protocol Update 001, we’d like to introduce our approach to blob scaling. The L1 serves as a robust foundation for L2 systems to scale Ethereum, and a necessary component of secure L2 solutions is data availability provided by the L1. Data availability ensures that updates L2s make back to the L1 can be verified by anyone. Blobs are the unit of data availability in the protocol today, so scaling the blob count per block is a key requirement to usher in a wave of L2 adoption for use cases like real-time payments, DeFi, social media, gaming, and…
A few months ago, we announced a renewed focus of Protocol on three strategic initiatives: Scale L1, Scale blobs, Improve UX. Following previous updates on Scale L1 and Scale blobs, this note relates to our “Improve UX” track, and its mission: Seamless, secure and permissionless experience across the Ethereum ecosystem, for individuals and institutions. We see interoperability, and related projects presented in this note, as the highest leverage opportunity within the broader UX domain over the next 6-12 months, in our position as a public, core Ethereum R&D group. The near-term strategy focuses on areas we believe will continue to…
The EF’s Grants Program launched in 2018 and has evolved over time to become the Ecosystem Support Program (ESP), providing grants and support to builders that help the Ethereum ecosystem thrive. Our mission is to enable work that strengthens Ethereum’s foundations and empowers future builders, in domains such as developer tooling, research, community building, infrastructure, and open standards. In 2024 alone, ESP awarded close to $3M in funding to 105 projects and initiatives that came through our open grants program webforms. These grants, which are one part of ESP’s larger portfolio, supported a diverse range of work, such as Commit-Boost…
BitMine buys 82,353 Ethereum tokens as holdings reach 3.4 million. Crypto and cash treasury stands at $13.7 billion. BitMine hits 2.8% of the targeted 5% of the Ethereum supply. BitMine Immersion Technologies, a leader in cryptocurrency mining and advanced cooling solutions, has significantly bolstered its position in the digital asset space. The company has revealed a substantial increase in its Ethereum (ETH) reserves. BitMine ETH holdings hit 3.4 million BitMine’s increasing commitment to Ethereum is again evident following another buy-the-dip move. Despite price declines, the publicly-listed company has bumped up its holdings to become the world’s second-largest corporate treasury strategy.…
As previously announced, the Holešky testnet has reached its planned end-of-life date and will be sunset shortly. The vast majority of remaining validator nodes will be shut down 2 weeks after the Fusaka upgrade has finalized on Holešky. After this, Holešky will no longer be supported by client, testing or infrastructure teams. Following the launch of the Hoodi testnet in March 2025, infrastructure providers and staking operators have had the opportunity to migrate their testing operations. Background Holešky was launched in 2023 as Ethereum’s largest public testnet, designed specifically for testing staking infrastructure and validator operations at scale. The network…
Over the past few years, the Ethereum ecosystem has grown in depth, diversity, and maturity. Builders and communities worldwide have pushed the boundaries of what’s possible, creating new tools, protocols, and public goods that strengthen the network as a whole. As the ecosystem grows, our approach to supporting it must adapt as well. Today, we’re excited to share the next step in that journey: the Ecosystem Support Program’s (ESP) new grants program. This announcement builds on our earlier update, where we temporarily paused open grant applications to reassess our priorities and funding approach. During this time, we focused on designing…
The moved assets included StakeWise Staked Ether (OSETH), Wrapped Ether (WETH), and Lido wstETH (wSTETH). In September 2023, Balancer suffered a phishing attack that resulted in a loss of about $238,000. A separate August exploit drained nearly $1 million after a vulnerability was found in Balancer’s liquidity pools. A suspected exploit involving nearly $70 million worth of digital assets has once again placed Balancer, one of Ethereum’s leading decentralised exchanges, under scrutiny. The incident has reignited debate over the security of decentralised finance (DeFi), where transparency and automation often coexist with deep structural vulnerabilities. It also shows how core DeFi…
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In an effort to bring the community more information about the going-ons at Ethereum, we’re planning to release semi-weekly updates of project progress. I hope this provides some high-level information without having to live on GitHub 😉 The Go and C++ teams have daily standups and are making regular progress along with several other improvements around the ecosystem. Concurrent with this, the teams are gearing up for DEVCON1, preparing talks and presentations along with finalizing more details in the coming weeks. If you haven’t already registered, visit https://devcon.ethereum.org/ to join the fun next month in London. Now on to the updates… Mist Hoping…
Over the last five days, myself, our executive director Ming Chan, and several others from the Ethereum team and Ethereum-based projects and businesses including Maker, String/Dfinity and Consensys have been visiting China and Hong Kong, where there have been a series of back-to-back conferences and events most notably including the Blockchain Workshop in Hong Kong on Oct 11-13 and the “First Global Blockchain Summit” in Shanghai organized by our friends at Wanxiang on Oct 15-16, while at the same time continuing to work on our usual tasks of research, development, planning DEVcon and administrative matters. Both conferences proved to be,…