Home Altcoins News Ethereum (ETH) Builders List of Who Received Funding in Q4 is Out

Ethereum (ETH) Builders List of Who Received Funding in Q4 is Out

Ethereum ETH builders List Funding in Q4

The list of Ethereum builders who received funding in Q4 is out.  For those who received the funding it is really a best day.

Lakshman Shankar, R&D at the Ethereum Foundation stated: There’s been a lot of development on state size management in Ethereum. It doesn’t get a ton of attention, but it’s a vital problem to solve for mass adoption. 

First, what’s the problem? The Ethereum ‘state’ consists of all of the data necessary to process a new transaction. You can think of it as the application state of all smart contracts and all account balances each node needs to store this data to verify the chain.  As NFTs and DeFi explode, the size of this data is growing at an increasingly rapid pace:  if this continues, it’ll become unfeasible for most to participate in verifying the network. This isn’t the decentralized future we want!

The key insight that motivates solutions to the problem is that Ethereum doesn’t charge users of its storage ‘rent’. It only charges them once.  Storage on ethereum today costs (via gas) one STORE instruction in the EVM.  This is economically broken. It costs nodes an infinite amount to store (assuming ethereum lasts forever), but the user only pays once.  There is currently a two-pronged approach to addressing the state problem: 1. State expiry 2.  Weak statelessness.

State expiry is the classic database cache approach socialized if a piece of state hasn’t been touched for some amount of time, nodes don’t have to store it anymore. If a user wants to access an old piece of state, he/she must provide a ‘witness’ or proof that the state is valid.

If you squint, this sorta feels like user state rent! Because generating a witness requires the user to store the data they’re proving the validity of, the user is now paying the cost of storing this data instead of the node provider.

It’s an elegant, indirect way to redirect who pays for storage.  ‘Regenesis’ is a specific variant of this that creates fixed-time windows during which all state in that window is considered legitimate.  Accessing a piece of state generated in window N during window N+1 requires a user to provide a witness.

‘Regenesis’ is a specific variant of this that creates fixed-time windows during which all state in that window is considered legitimate. Accessing a piece of state generated in window N during window N+1 requires a user to provide a witness.  For example, to check with a non-producer node that your account’s balance has a certain value, you’d have to provide it with the witness for your account’s state.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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