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Crypto && Coffee 144

Technology Recap:


  • Steven Roose posted to the Bitcoin-Dev mailing list a BIP (Bitcoin Improvement Proposal) for the OP_TXHASH opcode which would be used as a data structure for selecting specific data inside a transaction.
  • Bitcoin Core added support for version 2 encrypted P2P transport via BIP-324. The feature is currently disabled by default, but can be enabled easily. Encrypted transport helps improve the privacy of Bitcoin users by preventing passive observers from directly determining which transaction nodes relay to their peers.
  • Lightning Labs announced LND v0.17 beta! In this release, LND was updated with Simple Taproot Channels which allow users to open un-announced channels with Taproot transactions which improves on-chain privacy and cost efficiency.


  • Christine Kim from Galaxy highlights the latest All Core Devs Call for Ethereum and the status updates on devnet9 and the timeline for devnet10. These devnets are the building blocks before the major Dencun upgrade.
  • The Ethereum Validator staking queue and exit has reached zero.
  • Vitalik Buterin published an article on whether or not Ethereum should be okay with enshrining more things in the protocol.
  • Terence Tsao of Prysmatic Labs shares that devnet9 is now live with Prysm and Geth. With this, notable explorers now support devnet9 as well as explorers for transaction blobs.
  • Devnet Dencun analysis shows how blobs will affect block import latency.
  • Vitalik Buterin publishes notes on Protocol and staking pool changes that could improve decentralization and reduce consensus overhead.
  • Ethereum Foundation researchers release a new draft EIP (Ethereum Improvement Proposal) on Proof-of-Solvency standard for centralized exchanges.
  • Prysm releases v4.1.0 which reduces memory via Multi-Value slices, enables EIP-4881 for optimized block processing and adds some improvements to boost overall performance.
  • Offchain Labs provides a quarterly update on Prysm!

Other Chains: 

  • Optimism released the first fault proof system for the OP Stack via OP Goerli Testnet. This live system leverages the power of the OP Stack’s modular design to lay the foundation to build out a multi-proof dispute system that can include zero-knowledge proofs.
  • OffChain Labs and Ethereum Foundation teams publish a paper on the economics of EIP-4844 and how rollups might react to a new market.
  • Farcaster announces that their social network is now 100% permissionless. Anyone with an Internet connection and Ether can sign up and use the network without depending on another person or organization.
  • zkUniswap is introduced, a first-of-its-kind zkAMM (Zero Knowledge Automated Market Maker) that integrates zero knowledge proofs into the protocol itself to offload the computation of swaps. Thus, allowing for cheaper and more efficient execution of swaps off-chain.
  • EigenLayer introduces Programmable Trust, through differentiating economic trust, decentralized trust, and Ethereum trust.
  • Nethermind is now fully synced with Base mainnet and Optimism mainnet. This adds more client diversity for layer-2 networks!
  • Developers open source an end-to-end ETH home staking guide that multiple people use to run their own business.
  • Toni Wahrstätter shares what the block building/proposing landscape looks like currently within Ethereum. This all depends on gas prices and what is happening on-chain, but it definitely tells a story.
  • GrowThePie has added layer-2 transaction graphs with data that is aggregated across all layer-2 networks including information on block space and time-frame visualizations.
  • Immutable shares information on the recent launch of the Immutable zkEVM testnet and how it is planning to be the home of gaming on Ethereum.
  • Alchemy introduces Account Kit. A zero-friction onboarding mechanism with ERC-4337 smart accounts, social login, and gas sponsorship.
  • Nethermind Security has completed six audits for Worldcoin. Their latest audit covered World ID contracts, World ID state bridge, World ID example airdrop contracts and more.
  • Taiko releases the Based Rollup FAQ which provides the history and architecture of based rollups.
  • Binji from Optimism Labs provides a recap of the past 5 months of Optimism which includes Fault Proof Alpha, Superchain, RFP submissions, Bedrock, and more!
  • Users can now stake any amount of Ether through the Ledger Live app with Rocket Pool and Kiln.

Hacks | Vulnerabilities | Exploits:

  • On October 13th, 2023, Platypus Finance was exploited on Avalanche for the third time in eight months resulting in a loss of ~$2.2M. The exploit occurred via a flashloan attack which drained the protocol.
  • Mike Neuder, Researcher at Ethereum Foundation, publishes an article on the Magnitude and direction of Lido attack vectors. This focuses on attacks via Lido as well as Ethereum through various malicious strategies.
  • David Hoffman of Bankless shares thoughts around the Diva’s vampire attack on Lido.
  • On October 17th, 2023, Fantom Foundation fell victim to a zero day exploit on a Chrome Extension of their wallet which drained multiple accounts of their official hot wallet on both Ethereum and Fantom resulting in ~$6.7M.

Mainstream Recap:

  • VanEck announces to donate 10% of their EFUT (Ethereum) ETF to Protocol Guild for at least 10 years. These will be donations that directly go towards Ethereum contributors.
  • Coinbase has been granted a Major Payment Institution license from the Monetary Authority of Singapore.
  • A U.S. federal judge on Tuesday, October 3rd, 2023, refused to let the U.S. Securities and Exchange Commission (SEC) appeal their recent decision involving Ripple Labs.
  • Paul Grewal, Chief Legal Officer at Coinbase, shares the opposition from the SEC in their motion to dismiss their case against Coinbase.
  • Eric Balchunas, Senior ETF Analyst at Bloomberg, shares that Grayscale filed 19b-4 to convert their $5B Ethereum private trust ETHE into an ETF.
  • The next day, Eric Balchunas posted the difference in value traded between the various Ethereum ETF issuers.
  • UBS Asset Management launches first blockchain-native tokenized VCC fund pilot in Singapore.
  • Immutable has joined Amazon’s ISV Accelerate Program, a co-sell program for organizations that provide software solutions that run on or integrate with AWS.
  • Following a post from Nalin at Google, they have released more blockchain support via BigQuery with new additions such as Arbitrum, and account state tables for Ethereum.
  • During the SBF Trial, Arkham Intelligence shares that Alameda Research’s Liquidators appear to have staked ~$7M of MATIC with the Polygon PoS Staking Contract during the trial.
  • TechCrunch reports that Reddit is killing blockchain-based Community Points.

Behind the Barista Bar:

As industry reports continue to be published and paint certain pictures regarding protocols and value transfers for the reader, it’s important to remember the basics of blockchain principles. Education is key…things to think about as you sip your drink.

This Week’s Cup of Coffee:

This week, we are headed to New York, NY for a cup of The Retro from Coffee Project New York. This bold blend of Central and South American coffees yields flavors of chocolate, dark cherry, caramel, and spiced nuts. Perfect roast for a yummy espresso. Sip up and enjoy!! 

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