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Cur Non 🦇🔊 'ETH Maxi of Wall Street' Not Financial Advice
Joined March 2011
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We are @ethereum. I hope you join us.
Yesterday Ethereum turned 10. Today, lean Ethereum is unveiled as a vision—and personal mission—for the next 10 years.
We stand at the dawn of a new era. Millions of TPS. Quantum adversaries. How does Ethereum marry extreme performance with uncompromising security and decentralization?
TLDR: next-generation cryptography is central to winning both offense and defense.
Disclaimer: This is a Drake take™ aimed at a broad audience. A technical deep dive into hash-based post-quantum signatures and SNARKs will follow. A healthy diversity of views across Protocol, the EF, and the broader Ethereum community is expected and welcome. It strengthens us.
defense—fort mode
Ethereum is special. 100% uptime since genesis. Unrivaled client diversity. $130B in economic security (35.7M ETH staked × $3.7K)—maybe soon $1T.
Ethereum is poised to become the bedrock of the internet of value, securing hundreds of trillions over decades, even centuries.
Ethereum must survive anything: nation states, quantum computers. Whatever comes. Call it fort mode. If the internet is up, Ethereum is up. If the world is online, the world is onchain.
offense—beast mode
Ethereum is hungry. “Scale L1, scale blobs” is a strategic urgency inside the EF’s Protocol cluster. Expect low-hanging performance gains over the next 6–12 months.
Longer term? Think gigagas L1, teragas L2. Call it beast mode.
→ 1 gigagas/sec on L1: 10K TPS, ambitious vertical scale
→ 1 teragas/sec on L2: 1M TPS, sprawling horizontal scale
Scale vs decentralization? Why not both. The moon math we need is now tamed:
→ real-time zkVMs for lean execution
→ data availability sampling (DAS) for lean data
A delicious cherry on top: full chain verification across every browser, wallet, phone.
lean upgrades
Lean Ethereum proposes bold upgrades across all three L1 sublayers:
→ lean consensus is beacon chain 2.0: hardened for ultimate security and decentralization, plus finality in seconds; formerly branded as “beam chain”
→ lean data is blobs 2.0: post-quantum blobs, plus granular blob sizing for a calldata-like developer experience
→ lean execution is EVM 2.0: a minimal, SNARK-friendly instruction set (possibly RISC-V; pronounced “risk five”), boosting performance while preserving EVM compatibility and its network effects
The consensus layer (CL), data layer (DL), execution layer (EL) have each been reimagined from first principles. Together, they unlock fort mode and beast mode.
The goal: performance abundance under the constraint of non-negotiable continuity, maximum hardness, and refreshing simplicity.
lean cryptography
Hash-based cryptography is emerging as the ideal foundation for lean Ethereum. It offers a compelling, unified answer to two megatrends reshaping the ecosystem:
→ the explosive rise of SNARKs
→ the looming quantum threat
Imagine the leanest cryptographic brick—the hash function—singlehandedly powering L1:
→ CL: hash-based aggregate signatures upgrade BLS signatures
→ DL: hash-based DAS commitments upgrade KZG commitments
→ EL: hash-based real-time zkVMs upgrade EVM re-execution
A cryptographic jewel in each of lean CL, lean DL, lean EL.
lean craft
Lean Ethereum is more than a blueprint for hardening and scaling Ethereum. More than just doubling down on security, decentralisation, and cutting-edge cryptography. It is an aesthetic. An art form. A craft. Think Jiro in Dreams of Sushi. When we can go the extra mile, we do.
Minimalism. Modularity. Encapsulated complexity. Formal verification. Provable security. Provable optimality. These are subtle yet important technical considerations. Stay tuned for the post on post-quantum cryptography that will make them explicit.
lean legacy
After 10 fantastic years, lean Ethereum is a generational oath. To keep Ethereum online no matter what. To scale it without compromise. To make it worthy of those who come next.
This is about legacy. We are builders, we are missionaries. We are Ethereum. I hope you join us.
SamJernigan.eth retweeted
Why leave the leather shoes behind and go all in on crypto?
1. The asset class, in my view, offers the highest expected returns across all markets given the economic, social, and technological forces reshaping our world
2. There was not that many people doing rigorous investment research, so I felt I had something to contribute
SamJernigan.eth retweeted
Introducing Magnetar from Microsoft Research, the first zkVM that is: (1) general-purpose (RV64), (2) post-quantum from standard hashes alone (no curves, no lattices, no Poseidon), and (3) built for recursion.
Despite its conservative security, it is the fastest zkVM: 7.2–8.7 MHz on a laptop, 10–39× faster than existing zkVMs across 15 workloads! An optimized version reaches 9.5–12.8 MHz.
Links in the thread below.
SamJernigan.eth retweeted
since @lex_node turned off the ability to interact with this ridiculously dumb post and apparently doesn't thing "bad take" is a reasonable response, I will take a moment here to give a partial enumeration of all the good @drakefjustin has done in just the last 24 months:
* beam chain
* recruited about half of Protocol to the EF
* attracted dozens of new devs to Ethereum via @leanEthereum
* championed the Protocol Snarkifcation team, which became the Formal Verification team
* championed the $20M formal verification grant project with @alexanderlhicks
* founded @eth_proofs and super charged the race to real-time proving
* championed this little thing call the strawmap
* championed the Poseidon initiative with @Khovr and others
* leanVM with Emile
* championed the creation of the PQ team with @tcoratger
* countless other things that I cannot share here, but will contribute to the long term health of the ecosystem
* dozens of other things I prob don't know about bc he doesn't seek acknowledgement
* answered my DM and took a chance on a complete unknown
beast mode. fort mode. bunker mode.
SamJernigan.eth retweeted
It is honestly pretty funny to see SF AI people design communication and security protocols for consumers agents that resemble crypto more than centralized systems
Perhaps the threat models of open, permissionless networks was more right than the many detractors want to admit
Today we’re announcing Personal Agent Protocol — an open standard @Meta and @SierraPlatform are developing along with industry partners at @Genesys, @instinct, @RocketOTD, @Shopify, @stripe, and @Walmart. It will help define how personal agents interact with businesses and is open for anyone to implement. You can read more here - and if anyone is interested in joining let me know! sierra.ai/blog/introducing-p…
SamJernigan.eth retweeted
announcing nativerollups.fyi, a closed devnet based on frames-devnet-0 running a (half mocked) native rollup on top
a native rollup is an L2 that inherits L1's STF directly, greatly reducing complexity, governance and bug risks. here's how it works 🧵
SamJernigan.eth retweeted
I'M NOT A CRYPTOGRAPHER!
Today on @YukonResearch, I moved the frontier on post-quantum signatures for Ethereum using GPT-6 Astra.
Every submission on sig.golf has to be proven secure in Lean and measured cycle by cycle, so nothing gets in on vibes.
A year ago this work needed a specialist. Now anyone with a good agent can push a real cryptography record, and the verifier doesn't care who sent it.
sig.golf is live
Join the open autoresearch challenge to design stateless hash-based signatures for post-quantum Ethereum, prove them secure in Lean, and beat the record on size Ă— verification cycles.
Point your agents at sig.golf
Built with @eigenlabs on @yukonresearch
SamJernigan.eth retweeted
Really sorry to see this drop.
100% staking ratio that we are slowly marching towards means
- no credibly neutral money left in the system
- only staking providers actually make money anyone else just gets diluted
- solo stakers as a last stronghold become irrelevant - they become a footnote on the margin as % of the network
- balance of power shifts heavily towards staking providers, the main SP becomes the kingmaker
📋Withdrawing EIP-8363 from consideration for Hegotá.
EIP-8363 rapidly became one of the most commented-on EIPs in the history of the Ethereum-Magicians forum, with 200+ comments in a few weeks. As we progressed through the HegotĂ CFI (Consideration For Inclusion) process, several parties in the industry as well as core protocol and client contributors voiced that a fork scoping exercise was not the right venue to settle an issuance policy change.
We agree and we'd rather acknowledge this now than carry on towards HegotĂ in this context. The topic is too important and raised too many concerns that it deserves its own process. We commit to giving issuance its own process and we thank the entities such as @LidoFinance who offered to help steer such an initiative.
We stand by the motivation of this EIP, in particular: “a very high staking ratio is undesirable for two distinct reasons (...), preserving Ethereum’s security, neutrality and resistance to capture, and protecting ETH’s role as money.” Not everybody immediately relates to both reasons and for others recognizing just one of these reasons is enough to justify a change. Nevertheless, we will all benefit from improving our understanding of the issue and what is at stake. The questions we have faced since we published EIP-8363 can be boiled down to 5 categories:
➡️Security: What does a lower ratio actually secure versus a higher ratio?
➡️Industry impact: What else is built on the yield and what will be the impact ?
➡️Curve specs and alternate tools: Is this curve even the right instrument?
➡️Composition: Who is left staking (the effect on the composition of the validator set) ?
➡️Decentralization: How will solo stakers be impacted by the reduction?
We already argued a lot, conceded some and adjusted a few points in the very long Ethereum-Magicians thread mentioned supra. For a broader consensus to emerge and a better issuance policy for Ethereum to be designed and adopted, we need a dedicated process. We call for all willing hands to help and contribute to this, please do reach out. Here’s our start at what a multi-node process would look like (table attached).
Onward and forward, let’s improve Ethereum.
SamJernigan.eth retweeted
Thanks @drakefjustin for sitting down with us to discuss your vision and roadmap for Ethereum. Really enjoyed the conversation.
We have a lot of confidence in your leadership and in Ethereum’s future.
This is why @ethereum’s validator set must remain independent. If financial intermediaries dominate consensus, their losses and lawsuits can become pressure to censor or reverse outcomes. Validators should enforce objective rules, not decide who gets made whole.
SamJernigan.eth retweeted
"Don't think for a second that because you are an 'alarmist' that you are doing a social good." Amen.
SamJernigan.eth retweeted
Update your iPhones today!
@Apple Finally put passkeys into the secure enclave ONLY! They should not be decrypted outside the enclave. They can, and will, be stolen...
Zero-day remote code execution vulnerability in iPhone Safari. Click a link, and your crypto, passwords and everything else on your iPhone are gone.
Exploited in the wild by "DarkSword" malware.
"The DarkSword attack program has leaked, with its core capability being: extracting forensic-level data from iOS devices via HTTP interfaces. In actual attacks, attackers can combine social engineering or watering hole attacks to lure users into falling victim, thereby stealing data from iPhone / iPad devices and uploading it to servers controlled by the attackers."
Update iPhones immediately. Apple originally patched this, but rumours suggest even the latest versions are vulnerable, “pending confirmation,” across a wider range than the original 18.4–18.7 window.
From a Chinese security researcher, SlowMist CISO, @im23pds
xitter.cf/im23pds/status/2101265…
True 👇
Failure of mBridge is not a surprise
Infrastructure for the future of digital commerce will not come from the top down
It must be decentralized, open source, cryptographically secure, and based on long-term alignment of economic incentives. Ethereum $ETH has the best shot.
SamJernigan.eth retweeted
The live metrics dashboard (linked below) tracks MPBC blocks. So far MPBC has added 24,293 transactions + 1,256 blobs and increased gas usage efficiency by 4.2%. We estimate this has saved Ethereum users 73 hours of wait time.
docs.blockspace.forum/mpbc/l…
SamJernigan.eth retweeted
The big surplus countries are still accumulating foreign assets through state investment vehicles and state banks (but not through their formal reserves).
A new blog with @EtraAlex of Vanda/ Exante
1/
cfr.org/articles/de-reservif…
