Lightspeed Cross-Post: Can Ethereum Scale The L1? | Weekly Roundup
Episode publishedPodcast: Bell CurveBell Curve
Transcript preview
Preview only
This episode is brought to you by Arkham. Arkham allows crypto traders and investors to look inside the wallets of the best traders, largest funds, and most influential players in the crypto markets today. We'll hear more about Arkham later in today's episode. Quick shout out to permissionless four coming this summer to New York, June twenty fourth through June 26. We'll have speakers from all across the industry, including Hayden Adams, Kyle Simani, Guy Young, and more. Get your tickets today by following the link in today's show notes, and make sure to use code bell 10 to save 10% on your pu
and welcome back to another episode of Lightspeed. I'm your host, Jack Cubanak, alongside Mert Mumtaz for a, weekly news roundup. Mert, how's it going? Going
great. How are you doing, sir?
Doing pretty well myself. Good to be good to be back behind the mic with you. It's been a busy week. Lots of lots of interesting stuff to dive into here. So earlier this week or, I guess, at the end of last week, we learned that, there was a bug relating to zero knowledge proofs that, Solana, Jido, Anza kind of reached out privately to validators and worked together to patch in mid April, and they released a postmortem of that bug. So Mhmm. And it this led to, predictably, some online controversy and centralization criticisms. So, Mert, maybe just walk us through what what was the bug, from a
bug was around the confidential transfers slash balances feature on Solana, which is relatively new. It's been around for a while, but it got some new upgrades. And, basically, there was a bug where you can mint more tokens on token 22 type tokens on Solana that use this plug in. Now to be clear, there's not tokens that use this today, not that I'm aware of at least. It's a very new, unused type of thing, and so there was a bug in it. And so what happened was, you know, Anza, Solana Foundation, Jito, and just even other people in the ecosystem, once this issue was found, then you it's a it's a
Mhmm. Yeah. I mean, continuing with the this is a precedented response to a bug. Even Bitcoin. Bi the immutable Bitcoin in 2018 had to patch a bug by, you know, privately reaching out to mining pools. So, like, this is sort of a a common way to deal with bugs in even blockchain systems. It it's important to note. I think as well, like, talking to I I talked to a couple people who are involved in the patch process, and it's a little messy. Like, to my understanding, you know, Jido, the foundation, Anza, they have, like, DMs, emails, Discord, all these different platforms in ways that they can r
Yeah. I I think and I made this argument out of two two eight two. I think the much more real concern is perhaps that the network decentralized a little too fast or where we need to be. Like, there's still a lot of things that need to be going into the network to improve it. And fear of idiot comments from people who absolutely have no idea how this works is just not very useful. And, to their credit, I think there was a lot of people who actually work on the protocol in Ethereum who were like, yeah, this would also happen to us. But it's generally the, you know, the typical types who don't re
Arkham was created to make blockchains human readable and simplify blockchain data so that it is meaningful and useful to the average crypto user. With their new exchange, users can see what the top traders are buying and selling with Arkham intel and then trade on that information with Arkham exchange. To get started, follow the link in the show notes below. Today's episode is brought to you by Ledger, the gl
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.