Ethereum's 'The Verge' Upgrade
Uniswap Launches Permissionless Bridging, Denmark Plans To Propose Unrealized Gains Tax On Crypto
Vitalik Buterin shared notes about the next Ethereum upgrade 'The Verge', which is set to lower hardware requirements and enable small devices like phones or smartwatches to run nodes.
The Verge would bring stateless verification that would make full verifications so compute-affordable that mobile devices could do it.
With stateless verification, nodes would no longer have to store the entire chain.'
At the core of the upgrade are Verkle trees - a cryptographic structure for reducing proof sizes and enabling stateless validation.
In a blog post, Vitalik noted the concerns over Verkle trees' vulnerability to quantum computing. Other developers prioritize the rather resistant STARKs.
The upgrade also proposes a new gas cost system that's 'multidimensional', with separation between call data, computation, and state accesses.
Market Update
News
Denmark Plans To Propose Tax on Crypto Unrealized Gains
Denmark is taking a significant step towards regulating cryptocurrency by proposing a new tax model that targets unrealized gains. The proposed bill is expected to be discussed in the Danish Parliament in 2025, with potential implementation starting in 2026. | Read More
Uniswap Launches Permissionless Bridging Across 9 Networks
Uniswap Labs has introduced a feature that allows users to perform cross-chain asset swaps seamlessly. This new capability is now live across nine different networks. Uniswap's cross-chain bridging is powered by Across Protocol, which utilizes a decentralized network of liquidity pools and relayers. | Read More
Base Plans To Launch Fault Proofs This Month
Base, helped by Optimism, is to introduce a system called fault proofs on Oct 30. It is designed to enhance the decentralization of the network by reducing reliance on a single entity. Fault proofs allow users to monitor and challenge any invalid withdrawals on the network. | Read More
Blockchain Forensics Links BingX and Indodax Hacks
The hacks on BingX and Indodax involved the use of the same wallet address to launder stolen funds. This suggests that the same group or individual may be responsible for both incidents. In the case of Indodax, the attack occurred in September and resulted in a $22M loss. | Read More