This episode of the podcast covers a range of topics within the Ethereum ecosystem, including the ongoing research on the verifiable delay function (VDF), the transition of Canto to a layer 2 blockchain on Ethereum, and the announcement of the third Op airdrop. The host also discusses the upcoming upgrade to Polygon 2.0, the developments in the layer 2 ecosystem, and the potential of a Solana virtual machine roll-up on Ethereum.
Verifiable Delay Function Research
- Current Status of VDF: The host updates on the ongoing research of the verifiable delay function (VDF) in the Ethereum ecosystem, which began in 2019 to address the imperfections of the source of randomness called Randall in the beacon chain. However, the cryptography research team does not recommend using VDFs within Ethereum at present, as they are not yet fit for the purpose of what Ethereum needs.
Canto’s Transition to Layer 2
- Strategic Move: Canto, a layer 1 blockchain, is transitioning to become a layer 2 on Ethereum using Polygon’s ZK technology and their chain development kit. They aim to dedicate the chain to real-world assets and support the next wave of application layer adoption through Neo Finance.
- Future Prospects: The host believes that focusing on real-world assets on layer 2 could be a good niche for Canto, as real-world assets are expected to be the next big wave in crypto. However, it remains to be seen if this transition will bring more activity to the chain and if Canto can achieve product-market fit.
Third Op Airdrop
- Details of the Airdrop: Optimism announces the third Op airdrop, allocating 19 million OP to over 31,000 unique addresses as a reward for positive-sum governance participation in the collective. The speaker received a sizable airdrop of 20,000 OP tokens because they didn’t sell their initial airdrop and delegated all of it to an active participant in governance.
Polygon 2.0 Upgrade
- Upgrade Components: The upgrade includes three main components: governance changes, upgrading the Matic token to the POL token, and upgrading the Polygon POS chain to a ZK VM construction. The speaker expresses excitement about the focus on ZK technology and interoperability in Polygon 2.0, as well as the overall growth and innovation in the layer 2 ecosystem.
Solana Virtual Machine Roll-up on Ethereum
- Anticipated Announcement: The host teases a big announcement happening the next day, involving a team called Eclipse building a Solana virtual machine roll-up on Ethereum. The host expresses curiosity about what this roll-up will look like, as they believe Solana’s technology would be interesting as a roll-up.
- Bullish: The host expresses a positive sentiment towards the developments in the Ethereum ecosystem, including the transition of Canto to a layer 2 blockchain, the upcoming upgrade to Polygon 2.0, and the potential of a Solana virtual machine roll-up on Ethereum. The host’s excitement about these developments suggests a bullish sentiment.
- Neutral: The host maintains a neutral stance on the ongoing research of the verifiable delay function (VDF) in the Ethereum ecosystem, acknowledging that more research is needed before it can be implemented within Ethereum.