Ethereum

The network profit loss (NPL) indicator (brown line above) by Santiment is a very interesting one that I’ve just discovered. I really recommend reading this article to get a sense of what it is. Basically, network profit loss indicates to us whether most people are taking profits or losses from their trades at any single moment. If the mechanics behind this indicator is sound1, it is truly a novel indicator of Defi. NPL is derived by taking every coin on the blockchain and making the assumption that the price at which it last moved is its acquisition price, and the price at which its currently transacted at is its ‘sell’ price - therefore deriving the ROI. From the ROI, we get a rolling image of overall ’network’ profitability. ...

1 2 3 select sum(value)/10^18 as royalties, 0.7*sum(value)/10^18 as dao_royalties, 0.3*sum(value)/10^18 as artist_royalties from ethereum."transactions" tx where tx.from = '\x0b7a434782792b539623fd72a428838ea4173b22' and tx.to = '\x557068A9b7d66F97A61b97C80541eb17672E1e6f'

These are the main concepts regarding programmatic connections to Ethereum. You use Infura to access Ethereum node via API. Step 1: Sign up on Infura and get the API endpoint. ‘https://mainnet.infura.io/v3/397e0ef1xxx' Step 2: Connect to Web3 1 2 3 4 from web3 import Web3 infura_url='https://mainnet.infura.io/v3/397e0ef1b1dd4f6e85b10c3936724da3' w3 = Web3(Web3.HTTPProvider(infura_url)) w3.isConnected() That’s it! You’re connected to an Ethereum node.

It’s Q4 of 2021 (28th Oct), and Ethereum’s gas fees are currently raging at $17USD / transaction. If you catch the right, off-peak hours such as Saturday evenings GMT +8, you could get it cheaper at $2.30USD. The problem is: will your profitable trade wait till Saturday evenings? This brings us back to our original problem. What is the current state of development of our Layer 2 solutions? Layer 2 solutions manifesting on Uniswap as network options (31 Oct 2021) TLDR: Arbitrum is the only successful implementation of L2 solution at scale. Other projects, such as Optimism, and zkSync, are either operating at curtailed scale, or are still in development/testing Gas fees are still not ridiculously cheap for now. If broke, use Polygon. Let us first begin by considering Polygon. In my previous post two months ago (13 Aug 21), we saw that Polygon was the third largest network with 5.66Bn TLV. It’s widely heralded as a low cost alternative to Eth, with transaction costs going down to $0.00005USD and a TPS of ~88. Since then, much has changed. Not only has other projects such as Solana, Terra, Avalanche, and Fantom overtaken it in terms of TVL, Polygon’s TVL has actually declined over the period. ...