Subscribe to Bankless or sign in
gm Bankless Nation,
The web's technical underpinnings are facing some scary existential threats. In today's essay, David breaks down what this means for the future of human-secured software.
Join Bankless Premium to dive deeper,
luma 🫡
Sponsor: MegaETH — Crypto has new apps, finally.
Two recent events have struck fear in the heart of software builders: Google's Quantum research paper and Anthropic’s Mythos model.
These two breakthroughs operate along separate paths – one quantum and one AI – but both have massive implications for software security and are being treated with incredible levels of caution by the respective organizations.
- Anthropic’s Mythos model is being kept behind closed doors, initially only accessible to large-scale software companies who are using Mythos to patch vulnerable applications before broader society gets access to comparably powerful models.
- Google’s paper showcased a breakthrough in the use of Shor's algorithm which quantum computers will rely on to break ECDSA cryptography. Similar to Anthropic's careful treatment of the Mythos rollout, Google is not releasing the actual software breakthrough and simply provided a ZK proof that showcases the legitimacy of their findings.
Two powerful pieces of software are being kept behind closed doors due to security concerns. Clearly, we are passing some significant milestone when it comes to software security.
Famous security hacker George Hotz tweeted out the contrarian take that the hype around Anthropic’s Mythos is overstated...
We're past "in it for the tech" or "in it for the money." 
MegaETH is bringing you products worth using, powered by USDM.
📈 The Asset
- Staked ETH is now at +38.84M (~32% of the total supply)
- Bitmine bought its latest tranche of 71k ETH
- ETH txs cost $0.002 currently
🏛️ The Protocol
- The EF sold 5k ETH to continue funding R&D and beyond
- Ethereal News runs down latest ERCs
- Toni Wahrstätter unveiled txdelay, a site for tracking average Ethereum inclusion times, and proposed Block in Blobs (BiB), a method for encoding tx data into blobs
- Biconomy, in collab with the EF’s Improve UX track, introduced ERC-8211 “Smart Batching”
- Paradigm introduced its next-gen Reth 2.0 execution client
📱 The Apps
- Ethena is considering four new collateral types for USDe’s backing
- The ECF is working on a zero-fee onchain lending platform
- Glider added support for Arbitrum
- Lido activated Fast Swaps via CoW Swap
- MetaMask enabled tokenized stock trading and rolled out Advanced Permissions
- Polygon debuted onchain FX markets via Curve, DFB, and Frax
- Polymarket is migrating from USDC.e to Polymarket USD
🐸 The Culture
- fishbiscuit shipped an Ethereum Events Globe website
💽 The Tech
- Base notched 10k transactions in a single block
- Polygon kicked off its Giugliano Upgrade and added support for ERC-7715
- Base Account added support for some Monad, Unichain, and ZKsync assets
- Linea migrated to Small Fields, making its proving system considerably more streamlined
Markets are rallying on a fragile Iran ceasefire, but the real risks may be getting closer.
David and Haseeb break down Anthropic’s secretive new AI model and why it could expose vulnerabilities across crypto, from smart contracts to core blockchain infrastructure, plus the growing divide around “Q-Day” and how urgent the quantum threat really is.
Tune into this week’s Rollup! 👇
