The Paris-based Ethereum Community Conference (EthCC) took place this week, attracting over 5,000 attendees and featuring more than 350 speakers. EthCC is renowned as the largest annual European Ethereum event with a strong focus on technology and community engagement, offering participants three days of conferences, networking, and learning opportunities.
During EthCC 2023, the Ethereum ecosystem showcased its remarkable strength through a series of significant project unveilings and breakthrough updates. Eight game-changing announcements stood out, further solidifying Ethereum’s position in the blockchain space.
For those who missed the event, here’s a comprehensive recap of the major advancements and highlights that graced this year’s EthCC, demonstrating the continued growth and innovation within the Ethereum community.
Lens Protocol launches V2 version with many new features
Lens Protocol, the decentralized social networking platform on Polygon, is gearing up for its highly-anticipated V2 upgrade, introducing a range of new functionalities. Among the exciting features is “Open Actions,” enabling external smart contracts to interact with live Lens posts. This innovation opens up possibilities for users to create NFTs on OpenSea using content from Lens publications.
The Lens team is committed to improving compatibility and optimizing product module structure by incorporating Web3 applications, thus enhancing interactivity within the platform. The integration of the ERC-6551 token standard allows NFT holders to attach various assets and seamlessly interact with applications.
A significant change in V2 is that NFT ownership is no longer limited to wallet addresses; it can now be associated with profile pictures. This advancement has implications in the metaverse, where, for instance, users can program a piece of land to control their profile picture on Lens and interact with other land users.
The Lens Protocol successfully raised $15 million USD in June 2023, further solidifying its position in the decentralized social networking space. Recently, the team also announced the beta version of Bonsai, a layer-3 scaling solution designed to handle high transaction volumes with minimal overhead. Additionally, Lens has implemented Momoka, a scaling solution enabling off-chain storage of transaction data while ensuring validation occurs on-chain.
With these game-changing upgrades and innovations, the Lens Protocol is poised to revolutionize the decentralized social networking landscape and offer its users a more immersive and interactive experience.
Uniswap introduces a new DEX Aggregator solution called UniswapX
Uniswap, the world’s largest decentralized crypto exchange, has introduced its latest open-source protocol, UniswapX, designed to revolutionize trading across automated market makers (AMMs) and various liquidity sources. Founder Hayden Adams made the announcement at the EthCC conference in Paris.
UniswapX aims to address common pain points of on-chain trading and self-custody swapping. The protocol’s key features include “better prices” achieved by aggregating liquidity sources, gas-free swapping, protection against the maximal extractable value (MEV), and zero costs for failed transactions.
The system also introduces a process known as “Dutch orders,” in which the price of a trade order steadily decreases until it is filled. It also provides gas-free transactions, no-cost unsuccessful transactions, and MEV protection.
UniswapX is currently in opt-in beta on the Uniswap Labs interface for Ethereum, with plans to expand to other chains and the Uniswap wallet in the near future. Notably, the protocol introduces a third entity called “Filler,” responsible for using on-chain liquidity to support swaps. Users can now place orders off-chain without consuming gas, and Fillers will cover the gas fees to fulfill these trading orders.
The new protocol also offers protection against MEV activity, enhancing transaction prices without being vulnerable to attacks like sandwich trades. To make operations more convenient, Fillers will utilize a Transaction Relay layer when routing orders onto the on-chain.
UniswapX’s design includes a transaction fee re-sharing feature, pending approval through a Uniswap vote in the future.
Adams emphasized the immutability of UniswapX, assuring that the code cannot be altered or moved, and Uniswap Labs will not possess the authority to modify or suspend smart contracts. Users will retain full control of their wallet balance when executing swap operations.
With its innovative features and commitment to user empowerment, UniswapX is set to further solidify Uniswap’s position as a leading force in the decentralized exchange landscape.
Chainlink announced the official launch of the Cross-Chain Interoperability Protocol
Chainlink, the leading oracle solution, has officially launched its Cross-Chain Interoperability Protocol (CCIP) on several blockchain networks, including Avalanche, Ethereum, Optimism, and Polygon. CCIP is designed to enable seamless and secure interaction between different chains, allowing users to transfer tokens and data between blockchains with minimal slippage and maximum security.
The protocol leverages Chainlink’s oracle technology, providing a unified interface for cross-chain communication. It operates under a ‘lock and mint’ or ‘burn and release’ mechanism, allowing users to move tokens from one chain to another and trigger smart contract logic on the chain using random data commands.
One of the significant features of CCIP is its locked gas fee payment mechanism, ensuring transaction execution regardless of network congestion or gas price increases. It offers scalability and is considered future-proof, with plans to expand to other chains in the near future.
CCIP brings several utilities to the blockchain ecosystem, including cross-chain swaps, cross-chain deposits to open liquidity positions, and cross-chain lending to mortgage assets and borrow stablecoins in other chains. Additionally, CCIP includes an extra layer of risk management to detect potential vulnerabilities in cross-chain activities.
Another notable improvement of CCIP is its integration with SWIFT, a cross-border payment system, bridging the gap between traditional assets and digital assets.
Currently, CCIP is available on two DeFi platforms, Aave and Synthetix, with other DeFi projects encouraged to integrate the protocol. Furthermore, Chainlink plans to support CCIP on various testnets, including Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli, and Polygon Mumbai. The protocol’s successful deployment across multiple networks marks a significant milestone in enhancing interoperability and expanding the utility of decentralized finance.
Starknet announces Appchains framework
Starknet, an Ethereum Layer 2 solution, has unveiled “appchain,” a framework that empowers developers to create application-specific blockchains within Starknet. This innovative project aligns with the rising trend of modular networks in the Layer 2 ecosystem, seen in projects like Optimism, Polygon, zkSync, and Arbitrum.
Appchain refers to blockchains designed exclusively for individual Dapp applications, processing transactions solely for that application rather than sharing them across the entire ecosystem. This marks a significant development in Ethereum’s scaling roadmap.
Starknet’s app chains utilize STARK proofs technology to ensure security and are programmed in StarkWare’s Cairo language.
The introduction of appchains has been a long-awaited need in the blockchain space and is now receiving the attention it deserves. Other major layer-2 solutions on Ethereum have also initiated similar child blockchain-building toolkit initiatives, following Optimism’s OP Stack, Arbitrum Orbit, zkSync Era’s ZK Stack, and Polygon Supernets.
Using Starknet Stack, the native developer toolkit of Starknet’s ecosystem, developers can create these appchains, leveraging STARK proofs to enhance security. The toolkit’s core component is Cairo, a programming language developed by the StarkWare team, akin to Rust.
Appchains offer enhanced performance, as evidenced by Starknet’s recent v0.12.0 upgrade on the mainnet, which reported amplified network performance.
An intriguing aspect of appchains is their ability to support features not present on Starknet’s main network, such as custom fee market logic and consensus mechanisms. This flexibility empowers developers to tailor their application’s configurations and functionalities, providing greater control over their projects.
Starknet’s introduction of appchains represents a significant milestone in the blockchain landscape, increasing developers’ capacity for customization and making the ecosystem more versatile and adaptable to specific application requirements. This move signifies a key step towards a more decentralized, diversified, and performance-oriented blockchain environment.
Gnosis launches self-managed Visa debit card
Gnosis, a prominent player in the blockchain industry, has made significant strides in the world of digital payments with the introduction of two groundbreaking products. Meet Gnosis Pay, the world’s first decentralized payment network, and the innovative Gnosis Card, a Visa-certified, self-custodial debit card. These products are set to redefine how traditional and web3 economies integrate seamlessly.
Gnosis Pay empowers web3 developers to incorporate conventional payment systems, like Visa, into their platforms within a decentralized framework. This breakthrough solution bridges the gap between traditional and blockchain-based transactions, offering users unparalleled flexibility and convenience.
The revolutionary Gnosis Card complements Gnosis Pay as the first of its kind, a Visa-certified, self-custodial debit card that directly links to users’ on-chain wallets. With the Gnosis Card, users can effortlessly spend their digital assets at any Visa-accepting merchant, harnessing the advantages of blockchain technology alongside traditional payment systems.
To ensure optimal performance and scalability, Gnosis Pay relies on a custom Layer 2 solution built on the Gnosis chain. This advanced technology empowers the platform to handle a high volume of transactions securely and efficiently.
With Gnosis Pay and the Gnosis Card, users can unlock a multitude of benefits and possibilities. Gnosis Pay enables individuals to seamlessly bring their digital assets into the traditional economy, allowing for smooth transactions across various payment systems. Meanwhile, the Gnosis Card offers users the ultimate level of control, securely managing funds directly from their on-chain wallets.
The Gnosis Pay infrastructure is characterized by its security and openness, providing a transparent and trustworthy payment network. Moreover, Gnosis Pay has achieved full compliance with EU regulations, thanks to strategic partnerships and comprehensive banking and payment licenses.
Mantle Network launches alpha mainnet version
Mantle Network, the Ethereum Layer 2 blockchain, has made a significant stride by officially launching its alpha mainnet at the Ethereum Community Conference (EthCC) in Paris. This milestone comes after an intensive six-month period of development and testing, during which the network processed an impressive 14 million transactions on-chain.
The launch was further fortified by Mantle Network’s merger with BitDAO in May, integrating BitDAO’s treasury and governance framework with the network. With this merger, Mantle now enjoys robust financial backing, boasting one of the largest crypto coffers, valued at over $2.4 billion.
One of the notable features of Mantle Network is its design, allowing for quick upgrades through the swapping of modular components. This approach opens the doors for embracing the latest Ethereum innovations, such as account abstraction. Account abstraction enables wallets to function similarly to smart contracts, enabling them to handle more complex tasks automatically.
Mantle Network’s alpha mainnet launch has already garnered support from various partners, including blockchain game accelerator Game7, web game launcher HyperPlay, and blockchain education initiative EduDAO. Moreover, infrastructure providers and dApps such as Ankr, Bullieverse, Covalent, LayerZero, and The Graph have also contributed to the network, adding to its strength and potential for growth.
The launch of Mantle Network’s alpha mainnet represents an exciting development in the Ethereum ecosystem, providing new possibilities for scalability and adoption of the latest innovations in blockchain technology. With strong financial backing and a network of esteemed partners, Mantle Network is poised to significantly impact the Layer 2 blockchain landscape.
Linea launches alpha mainnet version
Consensys, a leading blockchain development company, has made a significant stride with the launch of the alpha mainnet version of its Layer 2 solution called Linea. This launch comes after a successful 3-month testing period, during which Linea garnered impressive traction, with more than 5.5 million wallets performing over 46 million transactions on Ethereum’s Goerli testnet. Such activity solidifies Linea’s position as one of the most active projects on the testnet.
The mainnet alpha phase of Linea promises to elevate user experience by introducing an ecosystem of over 100 protocols, partners, and decentralized applications. To achieve this, Linea incorporates some notable upgrades, including the utilization of new infrastructure technology, a dynamic fee mechanism, and integration of batch trading. These enhancements enable Linea to significantly reduce transaction costs, making it approximately 15 times cheaper compared to Ethereum.
Initially, Linea will be accessible to partners on the project’s test network. However, during the EthCC conference from July 17 to 20, the platform will be opened to the public, offering broader accessibility to users.
The launch of Linea’s alpha mainnet version showcases Consensys’ commitment to advancing Layer 2 solutions and enhancing the scalability and user experience on the Ethereum blockchain. As Linea opens up to a wider audience, it is expected to bring more efficiency and affordability to blockchain transactions, further contributing to the growth and adoption of decentralized applications and protocols.
Solana Labs releases Solang to improve compatibility with Ethereum
Solana Labs has taken a significant step in enhancing developer accessibility by releasing Solang, a new compiler aimed at facilitating the migration of Ethereum Virtual Machine (EVM) developers to the Solana environment. With Solang, developers familiar with Solidity, Ethereum’s primary smart contract programming language, now have a tool that enables them to learn and write applications on the Solana network.
This launch comes closely after the Neon EVM’s announcement of a similar tool, indicating a growing focus on improving compatibility between Solana and existing Ethereum development practices.
Solang offers several key features, including compatibility with Solidity version 0.8 of Ethereum and seamless integration of Solana SPL tokens with Solidity. Moreover, it allows EVM frameworks on Solana to access crucial network features.
Traditionally, smart contract development on Solana has revolved around using languages like Rust or C. However, with the introduction of Solang, the team is emphasizing a shift towards making development more accessible through Solidity and EVM. This move is expected to attract more Ethereum developers to the Solana ecosystem, bolstering cross-chain collaboration and fostering greater innovation in the decentralized finance space.
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