We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.
The latest news we'll cover:
*ERC-4337 Shared Mempool is live on Ethereum Mainnet, Arbitrum and Optimism
*Biconomy Acquires Klaster to Build Modular Execution Environment
*Ethereum Foundation’s 2024 Report
*Eclipse L2 Launch: Bridging Ethereum and Solana
*Mekong Testnet Launch: A Testing Ground for Ethereum’s Pectra Fork
Please fasten your belts!
ERC-4337 Shared Mempool is live on Ethereum Mainnet, Arbitrum and Optimism
An exciting launch of the Shared Mempool took place on the Ethereum Mainnet, Arbitrum, and Optimism during Devcon 7 in Bangkok, thanks to the collaborative efforts of the Etherspot, ERC-4337, Candide, and Silius teams. The Shared Mempool will also soon be available on Polygon thanks to PFL development by FastLane Labs.
The Shared Mempool plays a key role in ensuring that user operations (userops) from one bundler are shared across all connected peers, supporting a more decentralized and efficient process for managing these operations. The rollout of the Shared Mempool is being carried out in a phased manner, as outlined in this article. This launch marks a major step forward for Account Abstraction, contributing to the long-term sustainability and scalability of the Ethereum ecosystem. For a detailed overview, read more here.
Biconomy Acquires Klaster to Build Modular Execution Environment
Biconomy, a Web3 infrastructure provider specializing in account abstraction for DApps announced its acquisition of Klaster to develop a Modular Execution Environment (MEE) aimed at streamlining blockchain tasks for developers and enhancing user experience.
With this acquisition, Biconomy intends to build a framework that leverages modular blockchain components to enable simplified execution of complex blockchain operations, termed “Supertransactions.” Supertransactions use Merkle trees and crypto-economic guarantees, facilitating cross-chain functionalities without requiring developers to code complex smart contracts.
The MEE framework integrates account and chain abstraction, allowing on-chain and off-chain operations to interact seamlessly. Klaster’s expertise in chain abstraction complements Biconomy’s account abstraction solutions, potentially reducing complexities in cross-chain transactions and supporting a broader range of applications.
This acquisition aligns with Biconomy’s broader goals to enhance the Web3 landscape and follows its recent integration of AI agents for on-chain transactions, allowing users to delegate specific tasks to AI within set parameters.
Ethereum Foundation’s 2024 Report
The Ethereum Foundation (EF) has released its 2024 report, detailing its role in Ethereum’s ecosystem and the strategic goals guiding its future support. The EF emphasizes a commitment to long-term sustainability, guided by values of “long-term thinking,” “subtraction” (allowing ecosystem entities to grow independently), and “stewardship of values” aimed at reinforcing Ethereum’s principles and community.
This report reveals that EF’s spending in 2023 reached $134.9 million, with funding allocated to R&D for Layer 1 (L1) and Layer 2 (L2) scaling, applied zero-knowledge research, developer tooling, and community development.
Notably, the EF treasury holds about $970 million, mostly in ETH, to ensure support even in market downturns. Beyond the EF, the broader Ethereum ecosystem has over $22 billion across various project treasuries, bolstered by an ecosystem-wide commitment of $497 million in funding from 2022–2023.
Through partnerships with organizations like L2BEAT, 0xPARC, and Nomic Foundation, EF continues to decentralize Ethereum’s growth and create a more resilient blockchain infrastructure.
Eclipse L2 Launch: Bridging Ethereum and Solana
Eclipselaunched its public mainnet, positioning itself as a pioneering Ethereum L2 that combines Solana’s Virtual Machine (SVM) for execution, Celestia for data availability, and Ethereum for settlement and consensus.
This setup uniquely combines Ethereum’s liquidity and ecosystem with Solana’s advanced parallel transaction processing. Eclipse CEO Vijay Chetty emphasized the project’s role as a bridge between Solana and Ethereum, enabling developers from both networks to scale their dApps efficiently.
Eclipse’s entrance to the Ethereum ecosystem isn’t entirely without competition; similar projects like Ellipsis Labs’ Atlas L2 and SOON (Solana Optimistic Network) are also leveraging the SVM for innovative L2 solutions.
As Eclipse offers fresh options for developers, it underscores a growing interest in modular blockchain solutions, providing an appealing alternative to Ethereum’s EVM environment. This mainnet launch may enhance cross-ecosystem collaboration, creating new opportunities for both Ethereum and Solana.
Mekong Testnet Launch: A Testing Ground for Ethereum’s Pectra Fork
The Ethereum Foundation has introduced Mekong, a short-lived testnet designed to support development and testing for the upcoming Pectra fork. Including all major EIPs proposed for Pectra, Mekong offers a preview of Ethereum’s next big upgrade, featuring proposals for user experience (EIP-7702), staking updates (EIP-7251), and revisions to deposit and exit processes (EIP-6110/7002). These changes create an opportunity for developers to test the features that will soon reach Ethereum’s mainnet, enabling early adoption and feedback from the developer community.
Mekong serves as a critical testing ground, particularly for wallet and application developers eager to explore the new user experience features. It allows stakers to become familiar with updated workflows before Pectra’s release. Developers and users can connect to Mekong via its landing page, where they’ll find tools to set up the network on their browser wallets, view block explorers, and access a faucet.
Running a node on Mekong is straightforward for those familiar with Ethereum’s execution and consensus layers, and guides are available for node setup.
Although Mekong operates independently of existing Ethereum networks, insights from its testing will inform the Pectra rollout across other Ethereum environments, including Holesky and Sepolia.
Start exploring Account Abstraction with Etherspot!
*Learn more about account abstraction here.
*Head to our docs and read all about Etherspot Prime.
*Skandha — developer-friendly Typescript ERC4337 Bundler.
*Arka — an open-source Paymaster Service for gasless & sponsored transactions.
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Top comments (1)
Thanks for sharing.