Sensei Radar #14: Prysm's Post-Mortem Report, Lido V2, Algorand …

Sensei Radar #14: Prysm's Post-Mortem Report, Lido V2, Algorand Global Communitty Call and more!

May 22nd, 2023

Key crypto event-detection thread for your consumption, every week.

Ethereum

Prysm’s finality issue post-mortem Report: Ethereum Mainnet Finality

On Thursday, 2023–05–11 around 20:19 UTC, Ethereum’s Mainnet network suffered a significant lack of block production which led to a temporary delay (4 epochs) in finalization. The same incident occurred the following day for slightly longer (9 epochs) and incurred an inactivity penalty.

In both incidents, the blockchain recovered without any intervention.

What Went Wrong

The network was failing to finalize due to missing blocks and attestations.
Beacon chain clients had additional stress on the network caused by max deposits being processed.
Valid attestations with old target checkpoint weren’t processed optimally
Delay in finalization for 4 epochs & 9 epochs (with inactivity leak)
28 ETH in penalties & 55 ETH in missed validator revenue
Block space dropped but gas prices weren’t higher than daily highest

Lessons Learned

Testnets are not representative of the Mainnet environment. Goerli/Prater is only 457k validators while Mainnet is more than 560k and mass deposits are happening in Mainnet due to validator rewards restaking.
Inactivity leak penalties work in Mainnet! 🎉

Source: Week In Ethereum

mevboost.pics

Here’s a nice tool that provides visualizations on MEV-Boost. Thanks to this data, the Twitter user @noun40__ claims: “two public goods relays dominating the relay market lately (combined ~60%) is encouraging”.

Check for yourself!

ETHGlobal Lisbon hackathon finalists:

🐶 Credential Corgi
😎 Dookies
👬 buddy
💻 LocalPro
🪙 CryptoBureau
🤝 Pinky Protocol
🤖 Web3-gpt4
💸 Donation Station
🤯 ChainGPT
🗜 op-kompressor

Source: @ETHGlobal

Lido

V2 is officially here.

The Lido V2 Upgrade introduces two major components, with the most user-facing aspect being Ethereum withdrawals.

Withdrawals: As an extension of the recent Ethereum Shapella Upgrade, withdrawals streamline the Lido staking experience and allow users to unstake their ETH directly from the Lido protocol at a 1:1 ratio, achieving a key milestone of an open on/off ramp into the Ethereum staking ecosystem.

Unstake your stETH/wstETH through the Lido UI:

For a full overview, refer to the Ethereum Withdrawals collection on http://help.lido.fi

Staking Router: The new modular architectural design allows for the development of on-ramps for new Node Operators, ranging from solo stakers to DAOs and Distributed Validator Technology (DVT) clusters. This will create a more diverse validator ecosystem.

Algorand

May 24th: Global Communitty Call 🌐✊

Join the Algorand Foundation team on the 3rd Algorand Assembly Call, sharing updates from the wider ecosystem, give a recap from the Mega ACE Hackathon, and announce upcoming community events and the LATAM roadmap.

Agenda

Opening - Jack O’Connor
Ecosystem Overview - Min Wei
Algorand Ventures Update - Ryan Terribilini
Impact Update - Matt Keller
Gaming Update - Piergiacomo Palmisani
Upcoming Community Events - Waseem, Summer & Autumn
LATAM Community Roadmap - Evert & Camilo
Mega ACE Hackathon - Doro Unger-Lee
BAF Partnership - Eva Rodriguez
Project Spotlight: AlgoPoap & Poap Giveaway

SUI Foundation

Mainnet: May 3rd was an important milestone for the Sui community. Since then:

104 validators with 7.16B SUI staked
7.93M transaction blocks
11.24M total transactions
672K total active accounts
1.28M total NFTS
7.6M total objects
4,254 total packages

Sui and the Journey Ahead

Sui Foundation's Managing Director Greg Siourounis, reflected on this moment and shared his vision for what’s ahead in a recent interview.

The vision for Sui is to be THE decentralized infrastructure for applications, products, and services that solve genuine problems in people’s lives. To do that, Sui must be fast enough, cheap enough, secure enough, and dynamic enough to support billions of users performing a vast array of activities.

How is Sui designed differently?

Sui was built from the ground up because it was clear there were inherent flaws in blockchain design across the board. From smart contract programming language to tokenomics, every facet was reconsidered.