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The Protocol
Every Wednesday
Exploring the tech behind crypto one block at a time.
Arbitrum Shows Just How Messy (and Tricky) Crypto Airdrops Can Be
Bugs, server crashes and scammers continue to plague crypto airdrops. Will regulatory pressures be next?

Latest Ethereum Blocks Suggest Validators Are Reversing Censorship
Noncensoring relays such as Agnostic and ultra sound are delivering more data blocks on Ethereum than Flashbots, the one-time king of MEV-delivering relays.

MEV Rewards on Ethereum Reach All-Time High During SVB Bank Run and USDC Depeg
Profits made from MEV were more than twice as high as the last peak during the FTX implosion.

Gitcoin’s Owocki Says Crypto Can Regenerate the World. Just Don’t Call Him Starry-Eyed
A programmer by training, Kevin Owocki's view of securities law is not based in any formal legal training but crypto optimism, evolutionary science, economics and legal theory, with a focus on the principal-agent problem.

Upcoming Upgrades That Will Shape the Ethereum Ecosystem
Here are some approaching dates and launches that Ethereum followers and observers should keep an eye on.

War of Words Over zkEVMs Might Portend Long Struggle to Tech Maturity
As Polygon and Matter Labs race to bring their zkEVMs to market, both will need to make compromises in the name of security.

Arbitrum Surges Ahead as Ethereum’s Layer 2 Landscape Takes Shape
Layer 2 rollups now see more transaction volume than Ethereum’s main network.

Contentious Uniswap Vote Highlights the Opaqueness of Decentralized Governance
A16z didn’t quash a proposal to launch Uniswap onto Binance’s BNB Chain, but that doesn’t mean it couldn’t have.

What Is the Ethereum Blockchain’s Shanghai Hard Fork, and Why Does It Matter?
The network upgrade, set for March, will address staked ether withdrawals and reductions in gas fees for developers. The milestone will start a new era for the Ethereum ecosystem, following last year's much-hyped transition to a more energy-efficient "proof-of-stake" blockchain.

The Money in Ethereum's Middleware: Can Flashbots Still Call Itself a 'Public Good'?
Should a “public good” have a $1 billion valuation?
