Bitcoin Optech and ehthub_io founder Anthony Sassano each released a review of the progress made in Bitcoin and Ethereum in 2019 on the same day. Compared to Anthony Sassano, which detailed the progress made by the Ethereum ecosystem in different branch directions such as development, financing, and DeFi, and said that 2019 is "a surprising year for Ethereum construction", Bitcoin Optech cited improvements from a technical perspective. And these improvements are not "revolutionary improvements".
1. Bitcoin Optech releases progress made in Bitcoin in 2019, saying there are no "revolutionary improvements "
Bitcoin Optech's technical team, Bitcoin Optech, released its 2019 annual review, which summarizes the technical improvements of Bitcoin from January to December 2019. For 2019 improvements, Bitcoin Optech describes them as "a series of incremental improvements" rather than "revolutionary improvements" . These improvements include: making hardware wallets more accessible (HWI), generalizing communication between wallets between multi- signature and contract use cases (descriptors, PSBTs, miniscript), enhancing consensus security (consensus cleanup soft fork), and simplifying Testing ( signet), eliminating unnecessary hosting (loop), making it easier to run nodes (assumeutxo), improving privacy and saving block space (taproot), simplifying lightning network implementation (anyprevout), and better managing charge spikes ( (CTV), reduce node bandwidth (erlay), keep user safety (watchtowers) when Lightning Network is offline , reduce the need for trust (reproducible builds), prevent theft (vaults), promote privacy (SNICKER), and better manage Lightning Network users Anchor outputs, and make Lightning Network payments more used (multipath payments).
- BTC continues to be weak and volatile, the mainstream currency market is worthy of attention
- The volume of trading has not been significantly enlarged, and the rebound is suspected to be more attractive.
- Jiang Zhuoer: Why should I not only mine coins, but also mine? Why is joint mining the best choice?
- Market analysis: funds are afraid of the situation, no trend opportunities
- Mind Reading: Extracting "Knowledge" from Zero Knowledge Proof
- Coin price is too high to store coins? A giant whale with 100-1000 bitcoins can continue to store coins
Listed below are the single month improvements from January to December.
○ BIP127 Proof of reserves
Steven Roose proposes a standard format for an anonymous transaction reserve certificate that Bitcoin custodians can use to generate evidence that they control a certain amount of Bitcoin.
○ Bitcoin Core client compatible with HWI (Hardware Wallet Interface)
Proposed by Pieter Wuille. Miniscript makes it easier for different Bitcoin systems to collaboratively sign transactions, thereby significantly reducing integrated wallet front ends, Lightning Network nodes, coinjoin systems, multisig (multi-signature) wallets, consumer hardware wallets, industrial hardware signature modules (HSM), and other The amount of custom code required for software and hardware.
March: ○ Consensus cleanup soft fork proposal
Proposed by Matt Corallo. Eliminate potential problems in Bitcoin consensus code.
The Signet protocol allows the creation of a testnet in which all valid new blocks must be signed by a centralized party. Signet will be integrated into Lightning Network client C-Lightning.
○ Lightning Loop
Announced by Lightning Lab. An unmanaged solution is provided for users who want to withdraw some funds from the Lightning Network channel to UTXO on the chain without closing the channel.
○ Assume UTXO
Proposed by James O'Beirne. This will allow wallets and other software using full nodes to start receiving and sending transactions within minutes after starting a node, without having to wait for hours or days like a newly launched node now.
○ Trampoline payments
Proposed by Pierre-Marie Padiou. This is a method that allows lightweight Lightning Network nodes to outsource pathfinding work to heavyweight routing nodes.
Proposed by Pieter Wuille. Taproot can significantly improve user privacy and the fungibility of coins, while also reducing the blockchain space used by multi-signature and contract use cases.
Proposed by Anthony Towns. Functionally similar to SIGHASH_NOINPUT of BIP118, they intentionally do not recognize the UTXO spent, so that the signature can spend any UTXO that its script can perform (for example, using the same public key).
Proposed by Jeremy Rubin. This could enable new technologies to enhance coinjoin-style privacy, support vaults that enhance security, or manage the cost of spenders when transaction rates spike.
○ Erlay and other point-to-point relay improvements
Erlay's paper was co-published by Gleb Naumenko, Pieter Wuille, Gregory Maxwell, Sasha Fedorova, and Ivan Beschastnikh. Erlay is a protocol used to relay unconfirmed transaction announcements between nodes. This protocol utilizes libminisketch-based set reconciliation to reduce notification bandwidth by 84%.
○ Reproducible builds
Proposed by Carl Dong. In July, the Bitcoin Core project merged Carl Dong's proposal and added support for using a copyable version of GNU Guix's Bitcoin Core Linux binaries.
○ Vaults without covenants
Proposed by Bryan Bishop. A way to implement vaults on Bitcoin without using covenants. vault is a term used to describe a script that restricts an attacker from stealing funds even if the user's regular private key is obtained.
Proposed by Adam Gibson. This protocol proposes a new type of non-interactive coinjoin for the existing Bitcoin system.
○ Lightning Network Vulnerability
The vulnerability shows that, in some cases, it seems that every implementation cannot confirm that the channel funds transaction paid the correct script or the correct amount (or both). The Lightning Network specification has been updated to help avoid this problem in the future.
○ LN anchor outputs
Lightning Network developers made significant progress in October and November, addressing a long-standing problem of ensuring that users can always close their channels without undue delay.
○ Bech32 mutability
○ Removed OpenSSL from Bitcoin Core. Removing OpenSSL promises to reduce the frequency of future vulnerabilities.
○ Bitcoin Core removed support for BIP70 payment protocol.
○ Multipath payments
User-friendly improvements. This allows users to use multiple channels to consume or collect money at once, making it possible to use the entire off-chain balance or to obtain the full capacity through a single payment (within certain security restrictions).
Original Optech: https://bitcoinops.org/en/newsletters/2019/12/28/
2. Review of Ethereum's significant progress in 2019
While Bitcoin Optech released progress on Bitcoin in 2019, Ethhub_io founder Anthony Sassano sent 42 tweets enumerating the progress made by Ethereum in 2019:
1/2019 A surprising year for Ethereum construction.
This is a retrospective theme of the biggest and most important related events that happened in Ethereum in 2019!
2 / January:
-@ ethhub_io website launched
-@ gitcoin grants start
-@parity receives $ 5 million grant from Ethereum Foundation
-@ / r / ethtrader experimental monetization voting
-@ instadapp introduces "Decentralized Bank"
-@ ethcatherders formation
3 / February:
-@ graphprotocol launches browser
-@ kybernetwork launches @kyberswap
-@ getnuo goes live on the mainnet
-@ WrappedBTC goes live on Ethereum
-@ DEXAG_TokenWire Introduced
-@ plasma_group Introduced
4 / February continues:
-@dharma_HQ raises $ 7 million and launches new Lever platform
-@ ethereum Constantinople upgrade online
-@ ethereum Foundation announces funding plan wave 5
5 / March:
-@ setprotocol introduces Strategy Enabled Tokens
-@ defipulse is online
-@ econoar filed EIP-1559
6 / March continues:
-@ sec_news SEC Clayton chairman says Ethereum is not a security
-@ ConnextNetwork Dai Card published on mainnet
-One of the oldest interfaces on the Ethereum network-Mist stopped using
-@ compoundfinance announced v2
7 / April:
–The first eth2 beacon chain testnet was launched from @ethstatus, @prylabs and @sigp_io
-@ AugurProject Details v2
-@ teo_leibowitz introduces DIPOR-LIBOR for open finance
-@ EYNews Reveals Nightfall
-@dydx agreement for major updates
8 / April continues:
-@ instadapp v2 released
-@ uniswapexchange announces company and funding
9 / May:
-@ ethereum launches new ethereum.org website
-@ defisaver posted on the mainnet
-@ consensys launches Ethereum developer portal
-@ dydx agreement released to the public
-@ meta_cartel DAO was born
-@ RealTPlatform Tokenized Real Estate goes live
10 / May continue:
-@ Microsoft releases Ethereum Toolkit for Azure
-@ finra approves Grayscale's Ethereum Trust
-@ ethereum Foundation describes their plans for the next 12 months
-@ compoundfinance v2 released on mainnet
-@ nexusmutual posted on mainnet
11 / June:
-@ jpmorgan releases Zether agreement
-@ chainlink posted on the mainnet
-@ starkwareltd and @ 0xproject release StarkDEX demo
-@ Microsoft and @trufflesuite
-@ bzxHQ launches Fulcrum
-@ facebook announced @libra
-@ gridplus announces Photon Network
12 / June continues:
-@ cloudflare launches Ethereum gateway
-@ argentHQ launches Hopper privacy solution
-@ camirusso launches The Defiant newsletter
13 / July:
-@ ethereum 2.0 stage 0 spec is frozen
-@ pooltogether_ goes online
-@ camirusso and @kermankohli launch History of Ethereum website
-@ kendricktrh launches Heiswap Ethereum mixer
-@realdonaldtrump ( U.S. President Trump ) tweets about cryptocurrencies ( The Block Hub featured a special report on Trump's speech and the response of the crypto cafe and the community on July 12, 2019, interested readers (You can check it out)
14 / July continues:
-@ ethereum Geth v1.9.0 released with major improvements to the client
-@ instadapp launches @makerdao <> @ compoundfinance bridge
-@ setprotocol launches Trend Trading Strategies
-@ethereum 2.0 researchers participate in / r / AMA on ethereum
15 / August:
-@ argentHQ launches @makerdao CDP portal
-@ brave launches Twitter tip service
-@ mi_ayako joins the @EntEthAlliance board
-@ tornadocash Introduced
-@ godsunchained Hire Former MTG: Director of Arena
-@ ethfinancer forks from / r / ethtrader
16 / August continues:
-@ keep_project announces tBTC
-@ compoundfinance announces Open Oracle System
-@ felix2feng introduces Profit Pools
-@ uniswapexchange breaks through million ETH transactions
-@ rdai_dao Introduced
17 / August continues:
-@ ethereum Istanbul EIP list determined
-@ synthetix_io releases index token categories
-@ coinbase announces WalletLink
-@ aztecprotocol announces PLONK
18 / September:
-@ ryansadams announces Bankless
-@ hyperledger (Superledger) Besu Ethereum client announced
-@ethereum Foundation provides more grants
–State channel team worked together to create Statechannels.org
-@ plasma_group introduces Optimistic Rollups
19 / September continues:
-@ boredgenius introduces Pool DAI
-@ numerai start Erasure Protocol
-@ ameensol published an article about @compoundfinance describing it as a custody system
-@ danrobinson introduces the Yield Protocol
-@ makerdao introduces Oracle v2 and DeFi Feeds
20 / September continues:
-@ ethereum ProgPoW review completed
-@ enigmaMPC Announces Salad; Ethereum's Coin Mixer
-@ openlawofficial introduces The LAO
-@ ethereum 2.0 researchers and developers participated in an interoperability event and attracted 7 eth2 customers to talk
21 / September continues:
-@ ethereumJoseph (Joseph Lubin) joins the board of @hyperledger
-@bancosantander settles $ 20 million in bond transactions on Ethereum
-@ coinbase Announces USDC Guidance Fund
-@ gnosis Sight prediction market platform enters beta
-@ kyberswap announces Fiat On-Ramp
22 / September continues:
-@ UMA agreement announces Synthetic Token Builder platform
-@ dydx protocol launches native ETH-DAI market
-@ consensys announces @ConsenSysCodefi
-@ dolomite_io is online
-@ balancerlabs introduction
23 / September continues:
-@ ConsenSysCodefi introduces DeFi Score
-@ mydefi_org Introduced
-@ nodarj announces DeFi Strategies
-@ bitpay added support for Ethereum
24 / October:
-@ gitcoin Third round of funding raises $ 270,000 + for open source projects
-@ godsunchained raises $ 15 million
-@ connextnetwork v2 Enter the main network
-@ ethereum Devcon5 (Developer Conference) held in Osaka
-@ instadapp Seed Round Raises $ 2.4 Million
25 / October continues:
-@ makerdao launch new Oasis Trade
-@ coinbase Launch USDC reward program
-@ blocklytics post pools.fyi
-@skalenetwork raises $ 17.1 million
-@ cftc (US Commodity and Futures Trading Commission) Chairman confirms that ETH is a commodity
26 / October continues:
-@ vitalikbuterin publishes 5 blog posts related to eth2 during devcon, which simplifies sharding, describes a two-way bridge between eth1 and eth2, explains how composability across shards works and explains eth1> eth2 transition
27 / October continues:
-@ uniswap and @plasma_group release UniPig-an exchange built using optimistic rollup technology
-@ ethereumJoseph announces 1 million developer plan
-@ metamask_io Introduced web3 plugin
-@ setprotocol introduces public rebalancing dashboard
28 / October continues:
-@ mycrypto's new website enters beta
-@ starkwareltd introduces OpenZKP
-@ avalabsofficial announces Aethereum
-@ coinbase added support for Maker governance
-@ akashaworld announces Ethereum.world
29 / October continues:
-@ Bermuda announces acceptance of USDC for crypto tax and government services
-@ sendwyre introduces v2 (version 2) of their product
-@ gitcoin Quests launch
-@ axieinfinity partners with Samsung
-@ dannyryan started posting eth2 quick updates
30 / November:
-@ splunk uses Burner Wallet in meetings
-@ maplefinance Introduced
-@ vitalikbuterin proposed the lean version EIP-1559
-@ defi_zap posted by @nodarj and team
-@ gnosis launches Sight prediction market
31 / November continues:
-@ ensdomainsThe domain name auction ends and all remaining names can be registered at a fixed annual fee. This has led to a surge in the registration and use of ENS names.
32 / November continues:
-@ makerdao 多 mortgage Dai goes live
-@ defipulse introduces the "Interest Annual Interest" (IPY) indicator
-@ ethereum launches Ethereum Studio (Studio)
-@ marketingdao was announced
-@ rdai_DAO goes live on the mainnet
-@ renprotocol Chaosnet launch
33 / November continues:
-@ snarkyzk introduced Convexity Protocol and option tokens (oToken)
-@ samcassatt launches Aligned Capital
-@compoundfinance raised $ 25 million in Series A funding
-@ imTokenOfficial announces imBTC
-@ brave released its version one web browser
34 / November continues:
-@ wjvill Post detailed update on progress of eth2 Phase 2
-@ martinlundfall introduces Chai
-@ stakecapital introduces StakeDAO
-@opensea raises $ 2.1 million
-@ messaricrypto Add DeFi indicator
-@ niftygateway acquired by @Gemini
35 / November continues:
-@ prylabs releases the first stage 0 testnet update
-@ etherchain_org launches beacon blockchain browser
36 / December:
-@ camirusso starts accepting her Ethereum book reservations
-@ ethereum Muir Glacier
-@ carlbeek published a blog post detailing how to staking in eth2
-@ frontierwallet enters beta
-@ setprotocol introduces Social Trading
37 / December continues:
-@ Fidelity uses Ethereum to launch pilot employee rewards program
-@ ethereum activated Istanbul network upgrade on mainnet
-China forbids access to Etherscan
-@ teo_leibowitz introduces the Open Financial Index (OFI)
38 / December continues:
-@ sigmp_io launches release testnet for their Lighthouse eth2 client
-@ etherscan launches beacon blockchain browser
-@ eynews releases major Nightfall update
-@ zerion_io raises $ 2 million
-@ the_matter_labs launches ZK Sync
39 / December continues:
-@ loopringorg v3 deployed to mainnet
-@ spencernoon launches "Our Network" newsletter
-@ jack (Twitter CEO) Announces new Twitter team to deploy cryptocurrency (referring to the establishment of a decentralized standard for social media, The Block Hub reported on December 12 that Jack Dorsey announced the establishment of a team dedicated to this direction, interested Readers can read the issue.)
-@ Fidelity plans to support Ethereum in 2020
-@ Nike is patented, based on Ethereum tokenized shoes
40 / December continues:
-@ venture_dao introduction
-@ sablierHQ v1 launched on the mainnet
-@ setprotocol integration @compoundfinance token
-@ avsa launches "Much Clearer Dai" initiative
-@ parity announces plans to transfer Parity Ethereum client code to DAO
41 / December continues:
-@ jobsincrypto launches donation on encrypted website
-@ makerdao received $ 27.5 million in funding from: @dragonfly_cap and @paradigm
-@ gitcoin appropriations announced in the fourth round
-@ TXRXResearch eth2 research team announced
-@ gnosis secure multi-signature startup
42 / December continues:
-@ weDEX_io Be the first to build a DEX using zkRollup technology based on @loopringorg
-@ tornadocash v2 posted on mainnet
-@ Forbes integration @UnlockProtocol
3. Ethereum 2020 forecast: VCs will buy ETH aggressively
Just as Bitcoin and Ethereum each released their 2019 review, DTC Capital founder Spencer Noon published his predictions for ETH 2020:
My prediction for Ethereum in 2020: VC buys ETH . why?
They had previously invested in Layer 1:
New Layer 1 investment: wait and see phase
Dapp on Ethereum: bullish all the way
Other Dapps on Layer 1: Currently 0
ETH Dapp Highlights: DeFi
DeFi Dapp Success Story: Average Total Asset Management Increased
Investor Trends: Active Participation
No.1 DeFi Collateral: ETH
Net New Buy: ETH
The Block founder Mike Dudas took over the topic and published his 2020 Ethereum prediction:
My forecast for 2020:
In the next 12-24 months, ETH is in a transition period .
A lot of activity, memes, signs of life and growth.
A lot of VCs optimistic about 2020 put their money into Open Finance (Open Finance) / DeFi, dApps (yes), "enterprise" Ethereum, in order to obtain a better consumer experience.
The return on ETH itself is disappointing.
I was impressed by the ambitions of the team building on Ethereum.
However, the fact remains that only very few people own $ ETH, and that surprisingly few people use ETH in any application. At the same time, at least 10 million people own $ BTC.
How do you rate Bitcoin and Ethereum in 2019? Welcome message.
4. Some interesting data for Bitcoin 2019
Casa CTO Jameson Lopp listed some data of Bitcoin in 2019, including SegWit usage trends, miner transaction cost trends, and Bitcoin transaction amount trends:
The year of SegWit? 2019! This year, Bitcoin transactions spent another 20% on SegWit output, and now most transactions spend SegWit output. https://segwit.space/
Bitcoin address reuse ( referring to an address being used in multiple Bitcoin transactions ) is a bad privacy practice, which has declined in the second half of 2019 after a 12% increase over the past 18 months. https://oxt.me/charts
The transaction fees charged by bitcoin miners have fluctuated significantly in 2019, with an average of $ 100,000 per day during peacetime, but reaching $ 2 million per day during busy times . The peak cost in 2019 is still less than 10% of the maximum cost days in 2018. https://blockchain.com/charts/transaction-fees-usd
The daily Bitcoin transaction volume on the chain reaches 20 billion U.S. dollars / day , which is 10 times the initial amount in 2019. It is now about two times, roughly reflecting exchange rate changes. https://coinmetrics.io/charts/#assets=btc_log=false_left=TxTfrValUSD_right=PriceUSD_zoom=1546120512000,1577656512000
Output of Bitcoin OP_RETURN (data anchor) created in 2014-2019:
OP_RETURN is a script operation code that marks transaction information as invalid and can be used to carry data other than transaction information . Back in 2013, different players in the Bitcoin ecosystem were trying to incorporate information into transactions in order to take advantage of the irreversibility of the blockchain. Many members of the Bitcoin community believe that using OP_RETURN is irresponsible, in part because Bitcoin is designed to provide a record of financial transactions, not arbitrary data records.
5. Industry News
a.Beam will perform the first halving at block height 525600 on January 4, 2020. After the next halving, the BEAM mined in each block will be halved from 80 to 40.
b.Chainlink (decentralized oracle network) and Loopring (decentralized exchange agreement) announced the cooperation of multiple Oracle integrations through Loopring's v3 zkRollup DEX protocol. This will allow Loopring DEX to scale off-chain with zkRollups, but still use economic incentives to stay safe.
c. Virgil Griffith, an Ethereum research scientist accused of assisting North Korea in understanding blockchain and cryptocurrencies, was denied bail.
d. Huobi launches fiat-cryptocurrency portal for its Indonesian subsidiary. Huobi Indonesia's services will use Indonesian Rupiah (IDR) and tether (USDT). Indonesian users can deposit Indonesian rupiah through Huobi and convert it into U.S. dollars to trade more than 250 cryptocurrencies supported by their global platform.
e. Bloomberg reported that Craig Wright, a controversial figure who had been ordered by a judge to surrender his 3 billion bitcoin holdings, said he may not be able to enforce the order in the near future.