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Ethereum Developers Discuss Pectra and Future Upgrades in ACDE Call #189 | IDOs News

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On June 6, 2024, Ethereum protocol developers convened virtually for the All Core Developers Execution (ACDE) Call #189, chaired by Ethereum Foundation (EF) Protocol Support Lead Tim Beiko. These bi-weekly calls serve as a platform for discussing and coordinating changes to Ethereum’s execution layer (EL). Among the key topics of discussion were the inclusion of EOF and EIP 7702 in the upcoming Pectra upgrade, the deactivation of EIP 158, and the integration of EIP 4444.

Pectra Scope

Before the call, various EL client teams and the EF DevOps team shared their views on the scope of the Pectra upgrade. Most client teams supported including EOF in Pectra, except for Geth. Geth developer Guillaume Ballet expressed concerns that including EOF might delay the Verkle transition. However, other developers, including Reth’s Dragan Rakita, argued that the delay would be minimal and that EOF would significantly enhance the Ethereum Virtual Machine (EVM).

Beiko suggested bundling EOF with other Pectra EIPs for a single client release but recommended using devnets for staged testing. This approach would allow developers to sequence testing priorities and decide later whether to split EOF out if it causes significant delays.

Pectra Specs

Teku developer Mikhail Kalinin shared updates to existing Pectra EIP specifications, including a proposal to process EL-triggered requests to the consensus layer (CL) through a sidecar mechanism. However, this proposal was withdrawn due to potential conflicts with future code changes like enshrined proposer builder separation (ePBS).

Kalinin also proposed changes to EL and Engine API specifications for Pectra, such as enabling EL-triggered consolidations under EIP 7251. Beiko recommended reviewing these changes before the next ACD call to finalize them for Devnet 1 testing.

Verkle Prep

Ballet raised concerns about EIP 158 causing issues similar to the deprecated opcode SELFDESTRUCT. To avoid complications, he proposed deactivating EIP 158 in the Pectra upgrade. Beiko suggested drafting a proposal for this deactivation while considering the timing of EIP 7702’s implementation.

History Expiry

Developers also discussed EIP 4444, which aims to reduce block history storage on nodes by removing non-consensus-critical data after a certain period. The Portal Network was proposed as an alternative for querying Ethereum history data. Merriam from the Portal Network team offered support for EL client teams integrating this network, emphasizing the importance of collaboration for timely progress.

ACD Process Improvements

Beiko proposed several improvements to the network upgrade process. First, he suggested reducing the frequency of discussing topics that client teams haven’t reviewed in detail. Instead, these topics should be flagged for review first and discussed thoroughly in subsequent calls. Second, he recommended creating a new label, “Proposed for Inclusion” (PFI), to better organize EIPs likely to be included in a hard fork.

EF DevOps Engineer Mario Vega proposed creating a new Discord sub-channel for sharing testing updates, consolidating information currently scattered across multiple channels. Client teams were asked to provide feedback on this proposal.

As a closing note, Beiko reminded developers of two upcoming breakout meetings, one for ePBS on June 7 and the other for PeerDAS on June 11. For further details, the complete writeup can be accessed on Galaxy.com.

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ETF Outflows and Market Pressures: Is a Bottom for Bitcoin (BTC) Near? | IDOs News

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The cryptocurrency market is currently experiencing a state of uncertainty, with Bitcoin (BTC) nearing higher timeframe range lows on daily, weekly, and monthly charts. Additionally, there is a downtrend in lower timeframe charts, ranging from one-minute to 15-minute intervals, according to Bitfinex Alpha.

Market Pressures and ETF Outflows

One of the significant factors contributing to this uncertainty is the substantial supply overhang in the market. This was highlighted by the recent sale of seized BTC by the German government, which has added additional pressure. Other notable sources of overhang include Mt. Gox creditors and Bitcoin miners.

Furthermore, US spot Bitcoin ETFs have been contributing to negative sentiment. Last week alone saw outflows totaling $544.1 million. However, these outflows were primarily linked to basis/funding arbitrage unwinding rather than genuine sentiment towards BTC. Historically, large sell-offs in ETFs often coincide with local bottoms in Bitcoin prices, as noted in previous editions of Bitfinex Alpha.

Volatility and Market Capitalization

The total cryptocurrency market capitalization has also seen a decline. A pattern has emerged where Thursdays and Fridays have become high-volatility days. Last week, the peak-to-trough decline during these days was approximately five percent, which is significant for Bitcoin. Historically, such movements often signal at least a local low, presenting potential buying opportunities for traders.

However, the market remains in a wait-and-watch mode. Near-term scenarios could either see continued pressure from BTC overhang sales or a positive shift in sentiment, possibly sparked by Ethereum ETF approvals, which could renew interest in altcoins.

Macroeconomic Indicators

On the macroeconomic front, the US economy is showing signs of cooling, as reflected in several key economic indicators. The latest Leading Economic Index report indicated declining consumer optimism due to persistent inflation and high interest rates, predicting a slowdown in the third and fourth quarters of 2024. Despite this, the job market is showing signs of stability, with initial jobless claims experiencing a modest decline last week.

Significant strain is also evident in the housing market, with housing starts in May plummeting to their lowest level since June 2020. Despite these challenges, retail sales showed modest but positive growth, suggesting resilience among consumers, although the growth is slower than expected.

The industrial sector remains a bright spot, continuing to grow and potentially stabilizing the overall economy. If the trends of cooling economic growth and inflation persist, the Federal Reserve may consider a rate cut in September.

Future Outlook

Markets are becoming increasingly optimistic about inflation. The Fed’s five-year forward, five-year break-even rate is comfortably at 2.19%, close to the Fed’s two percent target. With jobless claims inching upwards, housing starts slowing, and retail sales growing less quickly, a reduction in interest rates could provide a welcome stimulus for the economy.

In recent crypto news, the German government’s sale of over $195 million worth of Bitcoin contributed to last Friday’s decline in BTC. Leading ETF providers, such as BlackRock, VanEck, and Franklin Templeton, are preparing to launch Ethereum ETFs, which could impact market sentiment positively.

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Google Unveils New AI Tools for Workspace for Education | IDOs News

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Google has announced the release of new AI tools for its Google Workspace for Education, including the introduction of Gemini, aimed at enhancing learning experiences for teen students. This move is part of Google’s broader commitment to making AI helpful in educational settings and beyond, according to blog.google.

Helping Teen Students Learn Responsibly with Gemini

Google’s new AI tool, Gemini, is designed to prepare teens with the skills and tools necessary to thrive in a future where generative AI (GenAI) plays a significant role. Gemini offers guided support, in-the-moment assistance, practice materials, and real-time feedback, aiming to build students’ confidence and creativity.

Last year, Google introduced a responsible Gemini experience for teens using their personal Google Accounts. This initiative was developed in consultation with child safety and development experts to ensure safety and reliability. Building on this foundation, Google has continued to partner with learning science experts and youth advisory panels to enhance the tool’s safety and effectiveness.

Enhanced Safety Measures and Data Protection

Google has committed to extra data protection for all education users, ensuring that data from chats will not be used to improve AI models. This initiative is part of Google’s effort to bring AI technology to students responsibly.

In the coming months, Gemini will be made available to teen students who meet Google’s minimum age requirements while using their Google Workspace for Education accounts. This service will be free of charge for all educational institutions in over 100 countries. To maintain control, Gemini will be off by default for teens until school administrators choose to activate it through the Admin console.

Features for a Safe and Effective Learning Experience

Google has implemented several features to ensure a responsible and useful experience for younger students:

  • Gemini is tuned to identify and prevent the display of inappropriate content, such as illegal or age-restricted substances.
  • The tool includes a double-check response feature, which cross-references content across the web to substantiate its responses, promoting information literacy and critical thinking skills.
  • An AI Literacy video endorsed by ConnectSafely and FOSI is included in the teen-friendly onboarding process, offering tips on responsible AI usage.
  • The Learning Coach, a custom version of Gemini powered by LearnLM, will provide step-by-step study guidance and practice activities like quizzes and games.
  • Extensions from OpenStax and Data Commons will offer information from trusted sources to aid student learning.

These initiatives reflect Google’s ongoing commitment to integrating AI in education responsibly, equipping students with the tools and knowledge necessary for an AI-driven future.

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Creating Your First GitHub Repository: A Beginner’s Guide | IDOs News

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Creating a GitHub repository is a crucial first step for anyone looking to manage projects using Git. According to The GitHub Blog, the third installment of their ‘GitHub for Beginners’ series offers a comprehensive guide on how to create and manage your first repository.

What is a repository?

A repository, or repo, is a fundamental element of GitHub and Git. It’s a space where project files live, allowing for version control and collaboration. Think of it as a project folder that tracks changes, stores history, and lets multiple people work together seamlessly.

How to Create a Repository

After creating an account on GitHub, navigate to your dashboard and click the green “Create repository” button. This takes you to a page where you can enter a repository name, select an owner, add a description, and choose between making the project public or private. You can also initialize your project with a README file, which provides essential information about the project, including its purpose, usage instructions, and details on contributors.

What’s a README?

A README file serves as an introductory guide for visitors, helping them understand and utilize the project effectively. It includes essential information about the project, such as its purpose, usage instructions, and how to get started. For a detailed guide on README files, visit the GitHub documentation.

Choosing a License

A license tells others what they can and can’t do with your source code. For example, the MIT License is a permissive license that allows anyone to use your code as they wish. Choosing the right license is essential for setting the terms under which others can use, modify, and share your project. For more information on licenses, visit choosealicense.com.

Forking a Repository

Forking creates a copy of an existing repository, allowing you to work on and modify it independently. This is particularly useful when you want to contribute to an open-source project. For more details, check out the GitHub documentation on forks.

What is .gitignore?

A .gitignore file is used to tell Git which files or directories to ignore in a project. This is useful for excluding files that are not necessary for the project to function, such as temporary files or files containing sensitive information. You can generate a .gitignore file based on your project needs at gitignore.io.

Main Features of a GitHub Repository

GitHub repositories come with various features to enhance collaboration and project management, including:

  • Issues: Track bugs or tasks.
  • Projects: Organize tasks in Kanban-style boards.
  • Pull requests: Merge changes from different branches or forks.
  • Wikis: Create detailed documentation.

Repository Settings

In the repository settings, you can manage collaborators, set up actions for continuous integration or deployment, and configure security settings and access controls. This is also where you can enable and disable repository features.

Your Next Steps with GitHub Repositories

With your first repository set up, you’re now ready to explore its features and start collaborating on your projects. For any questions, visit the GitHub Community thread.

For more resources, you can check out related posts on the GitHub Blog, such as Top 12 Git Commands Every Developer Must Know and What is Git? A Beginner’s Guide to Version Control.

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