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Protocol Specialist at @ratedw3b (acquired by @Figment_io) | Just means I go down rabbit holes 🐰

Joined August 2021
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rplust retweeted
Some thoughts on gas repricings and their impact. Gas costs increasing for state operations does not mean they get proportionally more expensive, because the gas limit is increasing. What is the point of increasing the costs of these operations but then also increasing the gas limit? The point is scaling: many other operations are currently overpriced, and, by keeping their gas costs fixed and increasing the gas limit, the protocol recognizes this and increases the supply *of those operations only*. The state operations get *relatively* more expensive than these, but not necessarily more expensive in absolute terms. The overall story is that Ethereum is scaling: the gas limit is going up to 200M after being stuck at 30M for years, and most operations are benefitting from this increase in the gas supply (their gas cost is not changing). The ones that are not, like writing new state, will be subject to further scaling efforts in the future. This is separate from the question of some smart contracts being affected by the repricings and related changes in the gas mechanism. Largely, the impact is on contracts that in one way or another have hardcoded gas costs or made assumptions about them not changing (e.g. if less than X gas remains then this branch reverts). This is unfortunate but somewhat inevitable when gas costs change, which I think is a fairly inevitable step in scaling Ethereum: the current gas costs are basically a decade old, some operations are much cheaper and some much more expensive than their gas cost implies! It is also unlikely to be the last time they change, because over time gas costs can drift away from being representative of the actual cost of the operations, exactly what brought us to this point. However, this can be the last time that it affects contracts, if it becomes standard practice to not make assumptions about gas costs in the future. Getting this out of the way can be a step towards more immutability, especially if we work to clearly define which invariants should be guaranteed by the execution layer, so that contracts can be written on a solid foundation. That said, the impact on contracts should have been more deeply investigated sooner, and perhaps more importantly communication about the change should have been more frequent and more direct. It has never been easier to run contract scans (I was able to find some affected contracts just with a few agents and the @SourcifyEth database), and I think it should be a standard practice for protocol upgrades in the future to run such scans with the latest spec, and that app developers should also be encouraged and given tooling to do so with their contracts.
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rplust retweeted
death to the gambling mindset of crypto ☺️
>"Crypto bearish if Republicans lose" >Republicans lose >Daily green Idk man, the more the Democrats win the less grifting is gonna be allowed And I think that's a good thing, shit got disgusting over the last two years Even the President launched a bunch of rugpulls
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me: now that we have decoupled consensus, was epbs a mistake? @EthDreamer: "we might not have picked it"
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rplust retweeted
🧠🧠🧠
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rplust retweeted
BREAKING: ZachXBT says the suspected EU financial institution that was exploited for more than $133 million is French bank Credit Mutuel Arkea.
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Nik Storonsky's Revolut has closed its $115bn share sale Revolut is now Europe's most valuable private fintech, and the second most valuable UK bank after HSBC. Barclays is worth about $74bn and Lloyds about $71bn. (Although the comparison sets a private sale price against public market caps, and Revolut hasn't said how many shares changed hands.) Yes, arguably private markets have a premium, but consider they had a revenue of $6.0 billion with a profit before tax of $2.3 billion. Compare that with their UK peers. That makes - Revolut at 29% margin, 35% RoE - Natwest at 23% margin, 21% RoE - Starling 17% margin, 15% RoE - Barclays 14% margin, 12.5% RoE - HSBC 13.5% margin, 15.5% RoE - Monzo 5% margin, 4% RoE That's QUITE a lead, and it's one Revolut is improving over time with AI. --- Revolut called it a secondary sale when the process opened in July, which means employees and early backers sold shares to new investors at $2,017 each. We're about to see a lot of founders and investors that are former Revolut. Glade Brook, Coatue, Durable Capital, T. Rowe Price and Baillie Gifford led the buying. The price is 53% above the $75bn of last November. --- Revolut is going global: Since January, it has launched banks in the UK, Mexico, Australia and New Zealand, won banking licenses in France, Colombia and Argentina, and got conditional approval for a US national bank charter. Each license lets Revolut hold deposits in its own name in another country. Each one also brings its own regulator and its own capital to tie up. --- Revolut has now run a staff share sale three years in a row, at $45bn, $75bn and $115bn. Stripe does the same. Its tender offers valued it at $91.5bn in February 2025 and $159bn this February. These two, plus possibly Ramp, are entering escape velocity and may stay private perpetually. (Although when I spoke to the Ramp CEO he said he does see going public as an ambition some day) Two of Revolut's leads, T. Rowe Price and Baillie Gifford, are fund managers known for owning listed stocks. In September CEO Nik Storonsky told Les Echos he's weighing a dual listing in London and New York. An annual secondary now does three of an IPO's jobs. Staff get cash, the company gets a price, and the funds that buy IPOs get on the cap table early. The listing will be the first time the whole market sets Revolut's price.
🤖 Made with AI
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rplust retweeted
On October 25, we identified a security incident involving unauthorized access to certain Allium systems. We took immediate steps to restrict access and secure our systems. We have notified affected customers directly and are continuing to provide updates and support. We engaged an independent cybersecurity firm to support our response and investigation. We are focused on strengthening our security controls, including authentication and monitoring. Following the investigation, we plan to share a summary of our findings and the measures taken in response. Our core platform, including the Allium App, Explorer, and Explorer APIs, is now back online. Some features remain temporarily unavailable as recovery continues. Current availability and updates are posted on our status page. We’re sorry for the disruption this has caused our customers. We know maintaining their trust requires clear communication and follow-through, and we’re committed to both. Ethan Chan CEO and co-founder, Allium Status page link: status.allium.so/ Trust center link: trust.allium.so/ allium.so/blog/allium-securi…
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We are excited to announce @HadickM and @tomhschmidt have been promoted to Managing Partners, joining @hosseeb and Bo in leading Dragonfly. The promotions recognize the role both have played in shaping Dragonfly into the firm it is today, and mark the firm’s move to a broader partnership. As co-leaders, Rob and Tom will help carry forward what Dragonfly has always done: backing the founders building the future of money and markets.
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rplust retweeted
Core developers decided to delay the upcoming Hoodi hard fork on today's ACDE call. Refer to this blog post for further details and be sure to watch for any client releases pertaining to your infrastructure on Hoodi. blog.ethereum.org/2026/10/22…
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Ethereum testnet Hoodi fork is not happening on Monday. There's a last-minute security concern about how the fork interacts with gas estimations and smart contracts. No word yet on whether there needs to be a spec change: But it's worth delaying the fork to investigate.
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This, or look out for releases from your client teams and install them before Monday - basically follow their advice. Applies to both CL and EL clients on Hoodi. (Mainnet validators not affected, no action required.)
if you run a hoodi validator, you'll want to roll back your version: the glamsterdam hoodi fork has been delayed due to some issues that require investigation
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rplust retweeted
if you run a hoodi validator, you'll want to roll back your version: the glamsterdam hoodi fork has been delayed due to some issues that require investigation
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Excited to welcome Ben Thalman as Research Lead at @ethereuminsti , based in Toronto. Ben brings 15 years across digital assets and traditional asset management, most recently as Staff Protocol Analyst and Ethereum PM at Figment, and before that a decade at Cidel, a private bank, researching securities, trading and managing portfolios. He’ll lead the research that gives institutions a clear, independent view of what’s being built on Ethereum and why it matters. Welcome to the team, Ben!
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rplust retweeted
BREAKING: SOLANA TPS DOWN 60%
solana is deleting vote txs tomorrow just to end the "but most of the tps is votes" reply guy we did it for you, reply guy
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rplust retweeted
Alpenglow is live on mainnet-beta ⛰️ 🎉 Solana’s new consensus protocol: finality reduced from 12.8 seconds to 150 milliseconds, built by Anza. Why this is important 🧵
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rplust retweeted
Frontiers by @paradigm was the most high signal event I’ve been to in over a year. Biggest takeaways: - If you aren’t using @AmpCode or Centaur style frameworks you are behind. - Swarms are the next frontier in scaling intelligence - No one is using enough tokens
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I am leaving Cambridge after a few days spent for a workshop on fast finality, concurrent with other workshops on post-quantum crypto and formal verification. Quick takeaways - Faster finality is coming, the research is mature, even as new ideas have come in during the week, the handoff to specifiers and implementers feels well underway. Next catalyst event will be at devcon in a few weeks, with core devs - The performance numbers for post-quantum finality are improving massively, and this is the worst that they’ll ever be. This is significant, it means the penalty from moving to more complex crypto would not require, in my opinion, if the numbers hold up, a deep rearchitecting to move to PQ-secure consensus, in particular when it comes to incentives - The biggest opportunity imo remains networking. Simulations and live experiments are exploring both the current pre-PQ setting, where networking is clearly the bottleneck, and the post-PQ setting, where compute remains the bottleneck. But with PQ compute numbers improving, I wouldn’t be surprised if once again networking becomes the bottleneck All of this is making me extremely bullish that we’ll achieve PQ-secure and faster finality even faster. Many thanks to @yannvon @benjaminion_xyz and @robsaltini for the workshop, and to @corcoranwill and @drakefjustin for hosting us in Cambridge!
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I mostly agree with Jas here. I think protocol-enforced scheduling would solve a lot of the insider trading on Solana. Secondly, I think infrastructure providers should stop forwarding transaction flow. @jito stopped the public mempool to make Solana a better ecosystem for trading, only for some RPC providers and apps to restart it. Imagine you're playing poker, and the dealer can see your cards but is also secretly taking part in the game. The "bUt It Is NoT aGaInSt ThE rUlEs" and the "We DiScLoSe ThIs SoMeWhErE, yOu ShOuLd Go FiNd It" do not make this less deplorable. They should be ashamed and embarrassed.
With all the "discussion" about MEV on solana. Unsolicited comment from me. All of this shitshow is caused by scheduler fragmentation. You send a txn to a validator. You dont know how the validator will rank it ? Is it by PF, is it TIP? Is there a bundle endpoint?
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