Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. I am Margaux Nijkerk, reporter Tech & Coindesk Protocols.
In this issue:
- The queue queue of the Ethereum validator leads to $ 2 billion while stakers rush to stop after 160% rally
- Jito launches BAM to reshape the solara space economy
- Ethereum validators report the intention to increase the gas limit to 45 m
- Dogecoin could soon check the ZK proofs natively, thanks to Dogeos Push
Network news
Validator outing meat on Ethereum saves: The queue of the Ethereum validator has displayed its longest ever -registered waiting time, stakers of possible signals seek to withdraw funds after a major price rally (ETH). Wednesday 09:00 UTC, nearly 625,000 ETH worth around 2.3 billion dollars were online to leave the network, according to Validatorqueue.com data. It is even higher than the amount pending during the tip of January 2024, extending the delays in withdrawal to more than 10 days, according to the data. Congestion is due to the dynamics of the Ethereum stage proof model, which limits the speed with which validators can reach or leave the network. Validators are entities that put tokens to help secure the blockchain in exchange for a reward. The exodus is probably due to the profits from those who marked the ETH when the price was much lower and is now cashed after rallying 160% from a hollow in early April. “When prices are increasing, people destroy themselves and sell to lock profits,” said Andy Cronk, co-founder of the wake service provider. “We have seen this model for retail and institutional levels through many cycles.” Pages of gap can also occur when large institutions move the guards or change their portfolio technology, he said. – Krisztian Sandor Learn more.
Jito Lance Block Assembly Marketplace: The Jito Foundation introduced the block assessment Marketplace (BAM), a system aimed at improving the way the blocks are built and sequenced transactions on the Solana blockchain. BAM is designed to make the “sequencing of transparent and verifiable transactions”, while allowing programmable innovation on the blockspace layer, unlocking new income opportunities for developers and reducing the harmful effects of the maximum extractable value (MEV). The launch is based on Jito’s established infrastructure, including its largely adopted validator client and the Jito Block engine. BAM has a modular architecture with three key components. BAM nodes are specialized planners who organize private transactions using secure equipment. The BAM validators execute the Jito-Solana software client updated and receive the transactions ordered from the nodes and perform them on the channel. Finally, plugins will offer developers, traders and applications a programmable interface to interact with the planner, allowing a personalized transaction logic. According to the team, Bam will start on Mainnet in the coming weeks with a first set of validators led by participants in the Solana key ecosystem such as in light, Helius, Sol Strategies and Triton One. – Margaux Nijkerk Learn more.
Ethereum validators are starting to increase the gas limit: According to the Gaslimit.pics dashboard, on July 21, 49% of the ETH marked by validators indicate that they are favorable to the increase in the gas limit to reach 45 million units. On Ethereum, gas is the unit that measures the calculation work required to perform transactions or smart contracts. Whenever a user interacts with the blockchain, he must pay gas fees, which covers the cost of using Ethereum IT resources. This ensures that users pay proportionately to the complexity of their actions. Each block on Ethereum has a gas limit, which is the maximum quantity of gas which can be consumed by all transactions in this block. If the total gas required for pending transactions exceeds the limit of the block, certain transactions are transferred to future blocks. Since space is limited, transactions are competing for inclusion and those that offer higher costs are more likely to be included first. The gas limit was raised for the last time in February, when it was set at 36 million. It was the first time since 2021 that it increased, after more than half of the validators on the network supported the change, without the need for a hard fork. – Margaux Nijkerk Learn more.
ZK Proods on Dogecoin?: Dogecoin may have started as a joke, but this upgrade is not one. Dogeos, the application layer developed by the MyDoge portfolio team, submitted a formal proposal to Dogecoin Core introducing a new OPCODE to allow the network to check the proof of zero knowledge (ZKPS) natively. The developers aim to transform an unused part of the script system into a tool that can verify cryptographic evidence, starting with “Groth16” (a specific type of evidence widely used in ZK systems) and by allowing future upgrades. This would allow Dogecoin to support more advanced and out -of -chain applications, such as Rollups and smart contracts, while maintaining the speed and simplicity of the main channel. The approach is modular by design because the evidence systems are selectable in mode and Opcode behavior is strictly opt. If the proof checks, the script takes place; Otherwise, he fails. The ancient nodes remain compatible, dealing with the opcode as a non-operation. No surprise forks, no VM bloating. – Shaurya Malwa Learn more.
In other news
- Polymarket, the prediction market powered by cryptocurrency which recently reached an evaluation of a billion dollars, decides to introduce its own personalized stablecoin or accept a income sharing agreement with the circle according to the amount of the USDC held on the platform, according to a person familiar with the plans. Polymarket’s motivation to create its own stablecoin is simply to have the reserves generating return which supports the large quantity of PEGED token of the Circle USDC used to make bets on the Popular Paris platform, said the person. A polymarket representative said that no decision had been made. – Ian Allison Learn more.
- Sharplink Gaming (SBET), the Ether Cash Society (ETH) led by the co -founder of Ethereum Joseph Lubin, continued its purchasing frenzy, which exceeded total assets of $ 1.3 billion. The firm said in a press release on Tuesday that it bought 79,949 ETH in last week at an average price of $ 3,238, its biggest weekly purchase. With the last acquisition, the company held 360,807 ETH on July 20, worth around 1.33 billion dollars at current prices. The company still has $ 96.6 million in funds raised by selling stocks through its equity equity to the market for more ETH purchases, said the company. – Kristzian Sandor Learn more.
Regulation and Policy
- President Donald Trump has fulfilled part of his wish to establish American cryptography regulations, signaling law legislation which officially establishes rules for stablecoin issuers – marking a first step that the digital asset industry hopes to end with the largest regulatory regime governing wider cryptographic markets. Before a crowd of crypto leaders in the East House of Blanche, a jubilant Trump, signed the guide and the establishment of national innovation for American stables (genius), which recorded a huge vote of 308-122 in the House of Representatives and a 68-30 vote prior to the Senate-demonstrating a great margin of the editorial staff on the part of the DEMocrats. And industry leaders, notably Brian Armstrong de Coinbase, Paolo Ardodino de Tether, Jeremy Allaire de Circle, Cameron de Gemini and Tyler Winklevoss, Dave Ripley de Kraken, Sergey Nazarov de Chainlink and others. – Jesse Hamilton & Nikileh of Learn more.
- The US Senate is working in its efforts to develop rules and regulations for the vast majority of the cryptography market, publishing a draft discussion of a bill on the structure of the market which more clearly defines some of the executives that the legislators are considering. The 35 -page project published Tuesday Formulas new definitions of digital assets which are not titles and orders the Securities and Exchange Commission to engage in the regulations around these assets which would free them and their transmitters of existing regulations. The bill later orders the dry -term trading commission and merchants of goods to engage in joint rules around certain aspects of the activity of the cryptographic market, such as the margin of the portfolio. – Nikileh of Learn more.
Calendar
- September 22-28: Korea Blockchain Week, Seoul
- October 1-22: Token2049, Singapore
- October 13-15: Digital Asset Summit, London
- October 16-17: Blockchain European Convention, Barcelona
- November 17-22: DevConnect, Buenos Aires
- December 11-13: Solana Breakpoint, Abu Dhabi
- February 10-12, 2026: consensus, Hong Kong
- May 5-7, 2026: consensus, Miami
