🎵 French Montana Releases Ordinal Song

In this edition, we explore the Ethereum Dencun upgrade, French Montana’s new song and SBF’s sentencing recommendations.        

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into the Dencun upgrade.

Key Words

• Ethereum Improvement Proposals (EIPs): Formal proposals to improve the Ethereum network, including changes to the protocol specifications, client APIs and contract standards.
• Blobs: Large batches of data that can be included in a block within the Ethereum network, introduced in EIP-4844 to improve scalability and reduce storage requirements.
• Rollups: Layer 2 solutions that bundle (or "roll up") transactions into a single submission to the main Ethereum chain, improving transaction throughput and reducing costs.
• Scalability: The ability for a blockchain to support an increasing number of users without compromising efficiency. 
• Layer 2: Layer 2’s refer to protocols built on top of already existing blockchain networks (called Layer 1’s).

What is it? Dencun refers to a recent upgrade within the Ethereum network, highlighted by the introduction of EIP-4844. This upgrade includes a set of EIPs aimed at enhancing the network's efficiency and scalability.

What does it do? The Dencun upgrade, particularly through EIP-4844, introduces "Blobs" - large data batches that can be included in a block. This mechanism makes it easier to process and store data. Blobs are designed to be cleared regularly, which helps reduce the storage burden on the network. Importantly, it allows rollup data to be stored long-term only by the parties that need it, optimizing network efficiency.

What does it represent? The largest takeaway from Dencun is it is expected to make layer 2s significantly cheaper. Bringing down transaction costs on chains aimed to be cheap already.  It also represents a significant step forward in solving scalability and cost issues on the Ethereum network, which could have broad implications for the entire crypto sector. By making transactions cheaper and the network more scalable, it supports the growth of decentralized finance (DeFi) applications and other blockchain-based services. Dencun signals a move towards more efficient layer 2 solutions, potentially leading to increased adoption of Ethereum and blockchain technology in various sectors.

Why is it interesting? The upgrade directly addresses one of the major challenges in the blockchain space: high transaction costs and scalability. By significantly reducing fees and improving the efficiency of data storage and processing, Dencun makes Ethereum more accessible and usable for a wider range of applications and users. 

More information: Shoal Research, Mirror

How to get involved? The Ethereum ticker is ETH. 

Check out Shoal Research’s Substack and Telegram channel.

⏰ Crypto News Recap

French Montana Releases Ordinal Song 

On March 13th, French Montana inscribed his new song ‘Bag Curious’ through Ordinals. The song is the third largest inscription on the Bitcoin blockchain. The Bag Curious release represents the growing potential uses of Ordinal inscriptions.

Ethereum Gas Fees Plunge 

The latest Ethereum upgrade, Dencun, has resulted in a plunge of Layer 2 gas fees. The update successfully employs blobs to create additional storage space. In celebration of the lower fees, developers uploaded the script from the Bee Movie on Ethereum. 

VanEck Lowers Spot ETF Fees 

Until March 2025, VanEck is reducing sponsor fees to zero for the first $1.5 billion funds in its Bitcoin Trust ETF. In the announcement, VanEck said "Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31, 2025”. VanEck is one of many asset managers working to attract news customers to their Bitcoin Spot ETF. 

SBF’s Sentence Recommendation 

Federal prosecutors released their recommended sentencing for Sam Bankman Fried, which suggests 40-50 years in prison. Supporting documentation featured a google doc with “random probably bad ideas” for SBF to recover his image post collapse. Solutions included ideas such as “go on Tucker Carlsen, come out as a republican”.

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