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THE DAILY INDEX

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TLDR Crypto

BLOBSTREAM LIVE ON BASE MAINNET

Blobstream is now live on the Base Mainnet, marking an evolution in onchain development. Developers can now create high-throughput blockspaces, comparable to smart contracts, using Celestia's modular data availability (DA) layer. This innovation removes the need for alternative Layer 1s or centralized DA solutions, allowing for seamless deployment within the same ecosystem. Developed by Succinct Labs, Blobstream acts as a data attestation bridge, ensuring rollup data integrity on Celestia through DA attestations and Merkle proofs and facilitating the scaling of Ethereum's rollup frameworks.

DEGEN LAUNCHING L3 ON BASE

Degen Chain is a pioneering Layer 3 (L3) platform designed for the /degen community. It is built upon Arbitrum Orbit with Base for settlement and AnyTrust for data availability. Degen Chain uses $DEGEN as its native gas token, making it one of the first community tokens to operate with its own L3 infrastructure. This innovation, offering ultra-low-cost transactions and new scalable solutions for the EVM ecosystem, represents a significant step in onchain internet evolution.

ETHEREUM HAS BLOBS. WHERE DO WE GO FROM HERE?

In this post, Vitalik Buterin discusses the success of blobs in bringing Ethereum from a zero-to-one problem to a one-to-N problem. Scaling Ethereum will have incremental progress and will see blobs get bigger and rollups more efficient at using them. Security standards for rollups need to become stricter as only Arbitrum has reached stage 1 of decentralization. While protocol development is decelerating, it is accelerating on the application layer. Buterin concludes by urging developers to build for the Ethereum of the 2020s.

ETHEREUM ‘BLOBSCRIPTIONS’ LIFT OFF AND IT’S TAKING BLOB FEES WITH IT

Blobs, the new storage type for Ethereum L2s introduced in the March 13 Dencun upgrade, have been overrun by the inscriptions mania that previously congested several other chains earlier this year. BlobScriptions caused blob gas fees to spike to around $18, though it has since fallen to around $1.20. The fees should return to normal levels as the true value of blobs becomes evident after this price discovery phase.

A BRIEF HISTORY OF MEMECOINS

Memecoins blend internet culture with digital currency. Tracing back to the early days of cryptocurrency, with each cycle introducing new iterations, they gained momentum through early Bitcoin alternatives, ICO crazes, DeFi summer, and meme stocks, evolving to include NFTs which brought visual representation to these tokens. Memecoins, such as Dogecoin and Shiba Inu, have often been regarded as cultural tokens, gaining value from their associated memes and community engagement. Despite their potential for high returns, they carry risks of volatility and regulatory uncertainty.

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