EthHub Weekly #69

CloudFlare outage knocks out crypto websites, Heiswap Ethereum mixer announced, 0x ecosystem update and much more!

Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)

🙏 Forgive Us

Sad news everyone - due to scheduling issues Eric and I won’t be able to record a weekly recap podcast episode this week. But never fear - we’ll be back next week with an extra long episode to make up for it!

I also announced that I joined Set Protocol last week to lead their marketing and growth efforts - I wrote a little piece here that explains a bit more about it.

Have a great week everyone!


News of the Week

☁️ CloudFlare Outage Takes Down Crypto Websites

A brief outage Tuesday morning at 10:00AM Eastern took down a number of crypto information and trading sites including Coinbase and CoinMarketCap.

Cloudflare, a CDN provider, first noticed the outage at 1:52PM UTC/9:52 AM Eastern and the impacted sites went down shortly after, wreaking havoc on automatic pricing engines including CoinDesk’s. For a moment CoinDesk’s widget displayed a price of $26 per bitcoin.

Coinbase noticed and implemented a fix after the outage. Poloniex noted the outage but explained that no funds were lost while Itbit reported that the front-end web server failed by no back-end functions crashed.

⚖️ US Watchdog Groups Call for Congress to Put a Freeze on Facebook’s Libra

A group of North American privacy and consumer watchdogs is asking the U.S. Congress to halt Facebook‘s Libra project.

In a letter posted by Public Citizen, the group details a list of issues they have with Facebook’s cryptocurrency. The more than 30 signers include the Center for Digital Democracy, Consumer Reports, and the Service Employees International Union.

“We call on Congress and regulators to impose a moratorium on Facebook’s Libra and related plans until the profound questions raised by the proposal are addressed,” they write, echoing similar demandsby House Financial Services Committee Chair Maxine Waters. Her panel and its Senate counterpart are scheduled to hold hearings on Libra this month.

4 US Lawmakers are also formally calling on Facebook to cease all development of its Libra cryptocurrency in a new letter sent to executives at the social media giant.

🤔 Ethereum Leaders Are Slowly Courting Persian Gulf Royals and Investors

Ethereum’s leaders are pursuing a “moonshot” in the Middle East.

The Ethereum Foundation’s head of special projects, Virgil Griffith, told CoinDesk the nonprofit is partnering with finance experts in the Persian Gulf to show that the world’s second largest blockchain is compatible with Islamic law. Islamic finance customs adhere to certain beliefs, including the prohibition of earning interest on loaned funds.

The move is seen as a first step toward potentially securing investment from the region’s plutocrats.

“My job is to keep rolling dice,” Griffith told CoinDesk about work to certify Ethereum’s Sharia compliance. “Probably nothing will happen. But there’s a hypothetical case where say, the Saudi sovereign wealth fund invests, like, a trillion dollars [in Ethereum projects], which would be a real boon. That would be really great.”

Project Updates

Introducing Heiswap

Heiswap is an Ethereum mixer that allows users to ‘wash’ their ETH in a confidential manner (i.e. who the sender sends money to is hidden). Currently, Heiswap is only able to mask the link between senders and their corresponding recipients, and requires participants to send ETH in fixed denominations.

0x Ecosystem Update - June 2019

The 0x ‘Relayer Report’ has been retired this month in favour of a new ‘0x Ecosystem’ monthly update format. This month, the team walks through what they’ve been working on for 0x, features an interview with MARKET Protocol, recaps last months network data metrics and provides updates from each relayer building on top of 0x.

Loopring 3.0 Overview: From A to zkSNARKs

This update provides a quick overview of how Loopring 3.0 works, and how they use zkSNARKs to enable scalable, secure DEXs. For a deep dive, you can check out the full design doc on GitHub.

Set Launches BTC Range Bound Min Volatility Set

The BTCMINVOL Set automatically buys on price dips of 10% and takes profits on rallies of 20% for BTC. There’s also an ETH version of the same Set.

KyberSwap Limit Orders

KyberSwap will launch limit orders on their platform on July 12th. They also recapped the last 5 months of activity & growth on their platform in this blog post.

Counterfactual Development Update #9

Various updates from the Counterfactual team including their work on integrating ERC20 support at the client level, progress on the Wallet UI and aligning protocols.

ENS 3-6 Character Name Reservation

The ENS 3–6 character .eth name reservation process starts July 11, 2019. In this update, the team walks through how to submit a reservation request.

Gnosis Monthly Development Update

The Gnosis team runs us through updates that they’ve made to the Gnosis Safe and Dfusion.

Lighthouse Update #13

A few exciting developments from the Eth2.0 Lighthouse team including the announcement of a target date of 15th of July for their first release!

ZeppelinOS June 2019 Development Update

A few updates from the Zeppelin team including a list of brand new resources for developers to quickly get started using the platform.

Community Member Spotlight

This week we’re highlighting the great work of Camila Russo.

Camila was previously a writer at Bloomberg Business. She’s now jumped full time into the crypto scene - authoring a book about Ethereum and is the lead writer of The Defiant daily DeFi newsletter.

Keep up the great work Camila!

On-Chain Activity

Interesting Tweets

Ecosystem Bits

Blog Posts




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