#3 What I Read This Week...

The main reason for this series is to keep track of what I'm reading and evaluate its usefulness at the end.

First, let's take a look at what I wrote this week:

https://mirror.xyz/iamchandan.eth/mSjSgyBGaRJbBuc2tsjWdaG5LWS-RW_rBUhSQNYzytM

https://mirror.xyz/iamchandan.eth/19FQR98OzGaNGomEIS3Zhy-we0NJgi9Wfbq_2D-aP9k

https://mirror.xyz/iamchandan.eth/C6yYM5bNBYhonjICenArXCWrnYfIqQKFjz1w_hhotTw

One significant reason why transactions on Solana are failing is because the block builders, during periods of high demand, drop transactions randomly since they can't process them all. Dropped transactions are lost because there's no memo pool to add them, leading users to send the same transaction multiple times to make it go through.

https://x.com/_nishil_/status/1777048334664081548
Financial nihilism refers to the idea that people have lost hope in the American dream, spending most of their time gambling in hopes of gaining more wealth. Social media exacerbates this trend by showcasing wealth and promising unrealistic profits. The rise of cryptocurrencies, including meme coins and NFTs, has further facilitated gambling.

https://twitter.com/travis_kling/status/1764696621097378299?s=46
Relative valuation has become prevalent due to the lack of clear metrics to value projects, stemming from factors like airdrops and token framing. Travis Kling hopes that end-user adoption will occur in the next cycle. Bitcoin is considered the collateral asset of the world.

https://x.com/MikeIppolito_/status/1755313858447614169
When comparing Layer 1 networks in terms of the number of wallets, daily transactions, active addresses, and total DApps, it's important to note that these metrics don't hold much significance because it's inexpensive to spam most Layer 1 networks except Ethereum. Defi activity is mostly non-existent in many alternative Layer 1 networks except Solana and BNB; many are becoming zombie chains.

AA contracts haven't received enough attention from users because they are three times more expensive to transact with than normal EOA. AA ERC 4337 has enabled the creation of applications like Farcastar and Fantasy, abstracting web3 features for users. It has also facilitated the creation of user-friendly non-custodial wallets by Wallet as a Service providers like Biconomy, Tweed, Thirdweb, and Alchemy.

https://research.despread.io/aa-2023-2/?ref=test-newsletter

https://daimo.com/blog/bulk?ref=research.despread.io

The Eigenlayer ecosystem and its key problems are discussed in the following link.

https://mirror.xyz/0xsuperscrypt.eth/FVryajewi1mCyFynDec9MRPCPsrfLYMzbgLbyu1tLlM

An Incomplete Guide to AVS is provided in this link.

https://medium.com/iosg-ventures/an-incomplete-guide-to-avs-855e8688173e

A TLDR on meme coins space is provided here.

https://mirror.xyz/1kx.eth/RgbEQvn1vgfzrE6GDTwk3rrNYQmyuwVgejtR0-6okRc

https://a16zcrypto.com/posts/article/crypto-startup-accelerator-csx-spring-2024-cohort/

The journey and growth of safe smart account contracts is detailed in this article.

https://mirror.xyz/1kx.eth/AnT3_N8CnHQN38winhJD9xkQq2DBVIzGzW12zcs4nes

Monad, another L1.
Ethereum and Layer 2 solutions limit the growth of the state using gas limits. Maintaining state in RAM allows for faster read and write access, but RAM is significantly more expensive than SSD. Improving faster and cheaper state access is crucial for solving scalability issues.

https://www.youtube.com/watch?v=j3LDRceYcrY&ab_channel=Unchained

To reduce the cost of ZK proof generation, building new hardware specifically for ZK proof generation is essential. Several projects are working on such hardware.