December 2, 2025 • 11 mins
In this conversation, Peter discusses the upcoming Fusaka upgrade for Ethereum, highlighting its potential benefits and the current trends in the Ethereum ecosystem. He also addresses significant security concerns in DeFi, particularly the recent Yearn Finance incident, and emphasizes the importance of robust security architecture in blockchain technology. The discussion further compares Ethereum's evolving programming paradigms with those of Cardano, showcasing the latter's foundational security advantages.
Takeaways
Chapters
00:00 Ethereum's Upcoming Fusaka Upgrade
02:53 Security Concerns in DeFi: The Yearn Finance Incident
06:06 The Importance of Security Architecture in Blockchain
09:04 Comparing Ethereum and Cardano: A Shift in Programming Paradigms
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
🔗 https://www.youtube.com/watch?v=Fq8FhvxET2k
Subscribe to the audio podcast:
🔗 https://bit.ly/learncardano-spotify
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🔗 https://learncardano.io/
Follow on Social:
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🔗 https://facebook.com/learncardano
Takeaways
- Ethereum is set for a significant upgrade with the Fusaka upgrade.
- The supply of Ethereum on exchanges is decreasing, indicating a trend.
- A whale recently cashed in on a massive ETH investment after 10 years.
- The Fusaka upgrade introduces Peer Data Availability Sampling for efficiency.
- Lower transaction costs and improved UX are key features of the upgrade.
- Yearn Finance suffered a major security breach despite multiple audits.
- Real security in blockchain requires foundational changes, not just audits.
- Cardano's architecture emphasizes security and has never been compromised.
- Ethereum is adopting programming paradigms similar to Cardano's for better security.
- Market reactions to upgrades often involve initial spikes followed by profit-taking.
Chapters
00:00 Ethereum's Upcoming Fusaka Upgrade
02:53 Security Concerns in DeFi: The Yearn Finance Incident
06:06 The Importance of Security Architecture in Blockchain
09:04 Comparing Ethereum and Cardano: A Shift in Programming Paradigms
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
🔗 https://www.youtube.com/watch?v=Fq8FhvxET2k
Subscribe to the audio podcast:
🔗 https://bit.ly/learncardano-spotify
🔗 https://apple.co/3jEPM8C
🔗 https://learncardano.io/
Follow on Social:
🔗 https://x.com/learncardano
🔗 https://facebook.com/learncardano
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Ethereum's looking at a massive upgrade here with the FISAKA
upgrade coming out on the third of December. I'm going
to look at some other headlines as well what's happening
in the Etheroeum space. But this is some pretty big news,
so make sure here that thumbs up. Let's subscribe, and
let's get into what's happening at the moment here. So,
first off, a theoreum supply on exchanges is dropping rapidly.
(00:22):
Now there isn't a clear explanation as to why this
is happening, but exchanges aren't holding as much ETH as
they used to. Maybe people are pulling it off and
moving on chain. I don't know exactly, but there's definitely
an ongoing trend here that we can see with the
EATH supply slowly moving out of exchanges. We also have
(00:44):
seen this whale here cash in and this is the
Whalechaf's transferred one hundred and twenty million in ETH after
ten years of dormancy. He bought them for just twelve
four hundred dollars and there's now sitting on a nine
six hundred and thirty three x return life changing wealth
(01:05):
on with ethereum. So good on this person wherever they are.
You got a bit of tax to pay you there,
but definitely worth cashing in on. That is definitely life changing.
Maybe it was a wallet that they had lost and
now they just unlocked it and went, hey, thank god
I found that. Let's start selling. Who knows, But good
(01:26):
on them. But let's have a look at this particular
upgrade here. This is the Fusaka upgrade coming on in
the third December, and this brings in secure scaling and
a whole bunch of other changes, some U exchanges which
I think are very good for crypto adoption in general.
Let's have a look at what's happening here. So first off,
the l turned roll ups. The peer DAS I thought
(01:48):
was quite interesting in how this is put into place.
There's a video here that talks about peer das and
let me just play this because I think it explains
it really well.
Speaker 2 (02:00):
Oh so, what on earth is peered as well? It
stands for peer data availability sampling and it totally flips
the script on how network validators check data. See right now,
validators have to download all the transaction data from secondary
networks called layer twos with peered ass they don't have
to do that anymore. Instead, they can confirm everything is
(02:21):
legit just by checking a few tiny random samples of
the data. Instead of having to read an entire massive
book from cover to cover just to make sure it's
the right one, peered ass lets you just flip to
a few random pages. It's a mind blowingly efficient shortcut
that saves a ton of time and energy.
Speaker 1 (02:38):
I'll put a link to this particular video that goes
through all of the Fusaka upgrades as well, and I
thought that bit there was pretty good to just highlight
for explaining what this pid gas is. So essentially, instead
of downloading and looking up the entire history of the
l twos that need to be rolled up into the
(03:00):
main layer, we're just looking at certain parts of it,
certain sections, and confirming that it is all up to
date and all good. So that increases the amount of
space that is available in blocks to make that l
one more usable, you can cram in more transactions there,
So that's a really nice improvement there. The other one
that we have here is for apps and defied depths
(03:22):
to Saka brings lower transaction costs with instant feel ux
via based pre confirmations, lower transaction costs is definitely something
that everyone wants. This one here is around the wallet
side of things, and now the new R one curve
and EP seven ninety five one, so that's Etheroreym improvement
proposal are unlocking secure mobile native pass keys with simpler signatures. Now,
(03:48):
this one I absolutely love. So if you're using a
lot of modern websites, if you've got a Gmail account
for example, they've implemented in past keys as well, so
that you can use a simple click and sign or
a biometric to sign that it's you and be able
to log into that particular ecosystem, whatever it is. Implementing
(04:10):
that same level of security onto a wallet infrastructure makes
onboarding even easier and even faster. This is one massive
ux improvement that I think is really important for crypto
adoption and all chains I think should adopt this. So
we're going to see this replicated in the Kadano ecosystem,
(04:32):
Solana and so on, So hopefully we do see this
one as well on Kardano, so we can see a
lot of growth and adoption there as well. This one
here's for protocol infradevs. Forsaka brings higher gas limits from
forty five million to sixty million, so it gives you
that much more headroom for improvements there as well. So
if you want to read more about the upgrades, I'll
(04:54):
put the links to Ethereum roadmap there so you can
learn a little bit more about what they're doing and
what is invol with this particular upgrade. Now there is
some negative news as well, and this one's not good.
This one's with urn Finance that got a lot of
users on this protocol. Urn Finance one of defi's most
audited protocols that just got drained yesterday, a limited minting
(05:14):
bug in the yeath Pool, Cirtech trail of bits quant
stamp mint bikes have all audited yearn contracts, plus many
more millions spent on security theater, and users still lost everything.
This is what nobody wants to talk about. No Audit's
completely unacceptable with audits still not safe. So where does
(05:37):
this leave us? Stuck in security limbo, pretending we're ready
for mass adoption when we're clearly not truth the truth.
Audits catch surface level bugs. There are liability shields for founders,
not protecting, not protection for users. The checkboxes says lawyers
can say We did our due diligence, but they don't
(05:58):
catch sophisticated exploits. They don't prevent unlimited minting bugs. They
don't stop the creativity of attackers who think in ways
auditors never considered. Real security doesn't start with the audit.
It starts with proper foundations, smarter asset structures that eliminate
entire attack vectors, no approval mechanisms to exploit. Smart contract
(06:21):
designs with formal verification from day one, mathematically verified, not
just looks good to me. Protocol level protections, not band
aids on broken architecture. Chains like multi versus x, Kedano
and our grand build this in from the start, native assets,
not unlimited approvals. Security by design, not by afterthoughts. Meanwhile,
(06:47):
EVM chains keep building on the same broken foundations that
slap audits on top light that will fix it, it won't.
YARN is just the latest proof. There will be more tomorrow,
and next week and next month. We admit that the
hard truth Web three is still early. Infrastructure isn't ready,
and pretending otherwise just puts more risk, more users at risk.
(07:09):
We can't audit our way out of fundamental flawed architecture,
so stop acting like we can looking back here. And
this is probably the main reason why I am on Kardano,
why I have hold our grand as well. I don't
hold or a part of the multi x ecosystem, but
I'm a big holder and fan of Kadano, and it
(07:31):
is all coming down to the security layer there, formal verification,
high levels of security there. Kadano's never gone down in
its eight years since it's launched, and this is one
of the big things that I love about the ecosystem
and why I'm so bullish on the Cadano chain. None
of the smart contracts have been have been touched, would
(07:54):
have been hacked by hackers or my Licidity is still
in smart tracks and I'm there with a lot a
high level of surgacy that it won't be hacked unlike
many of the other protocols. And you can't expect adoption
to happen when you have headlines like this on a
regular basis. Last month, the last two months, I read
(08:18):
another report of the massive amount of hacks that had
happened across the EVM ecosystem. It's just one after another
after another, after threat after threat had been found, and
the EVM space is played by this unfortunately, and hopefully
you know, projects do look at some safer measures and
different ways of actually implementing their projects and launching on
(08:41):
multiverse x, Kadano and our grand and migrating their users over.
Who knows they might. It's a hard ass because I
know development is costly, it's a hard thing to move
users over, and liquidity over and all that. But you know,
if you're starting with a safe, sound and mathematically verified
(09:04):
protection mechanisms on the protocol itself, you're in a much
better starting place compared to what has happened in the space.
Overall unfortunate news with that, and I'm sure I'll be
reporting on more in the future as well. Now, I
thought this was quite interesting to learn about. And this
is a quote from this, and this is a post
(09:24):
from Sebastian. Sebastian is a highly repevable developer in the
Kadano ecosystem. He's built his own blockchain as well. He's
done a lot of really cool coding over the years,
and he's quoting here. Core solidity takes ideas from pure
functional programming languages I G. Haskell and Lean. Kadano is
(09:46):
built in Haskell. Impressive that in six years, Ethereum went
from the biggest critics of these ideas to one of
the biggest proponents, even rewriting their entire ledger and contract
language around them. But this is all around functional programming,
and this is one of the core security measures that
(10:06):
Kardano has taken to make sure that they're smart contracts
and the ledger itself is really secure. And Ethereum is
shifting taste, turning that giant ship around and moving into
the same type of programming that Kardana is built in.
It just proves that Kardano was way ahead of its time.
(10:29):
Ethereum did get to that market edge, first to market. Yes,
congratulations to them. And now they're trying to turn the
ship around as become like Kardano with liquid staking and
all these other things that make Cardano so appealing. Anyway,
if you want to read more of this post here,
I'll put a link down below. Does get a little
bit technical, so I won't go through it in this video. Okay,
(10:52):
that's all I have for this particular update around the
Ethereum space and this FORSAKA upgrade. Congratulations to the Theorem
ecosystem on this. It's going to be a really good
move for them overall. Will it move the price of
a theorem? I don't know. Usually when big news like
this comes out, you see like a bit of a
(11:14):
spike and then a market dump afterwards, when people take profits.
That's usually the pattern that you see, and I wouldn't
be surprised if we see that happen again. Always sell
on the news right by the rumor. Sell the news
as the saying goes. Anyway, if you got something out
of this, if you enjoyed my content, please hit that
thumbs up that like subscribe a notification bell on your
(11:35):
way out. I'll see you guys in the next video.
Ethereum's looking at a massive upgrade here with the FISAKA
upgrade coming out on the third of December. I'm going
to look at some other headlines as well what's happening
in the Etheroeum space. But this is some pretty big news,
so make sure here that thumbs up. Let's subscribe, and
let's get into what's happening at the moment here. So,
first off, a theoreum supply on exchanges is dropping rapidly.
(00:22):
Now there isn't a clear explanation as to why this
is happening, but exchanges aren't holding as much ETH as
they used to. Maybe people are pulling it off and
moving on chain. I don't know exactly, but there's definitely
an ongoing trend here that we can see with the
EATH supply slowly moving out of exchanges. We also have
(00:44):
seen this whale here cash in and this is the
Whalechaf's transferred one hundred and twenty million in ETH after
ten years of dormancy. He bought them for just twelve
four hundred dollars and there's now sitting on a nine
six hundred and thirty three x return life changing wealth
(01:05):
on with ethereum. So good on this person wherever they are.
You got a bit of tax to pay you there,
but definitely worth cashing in on. That is definitely life changing.
Maybe it was a wallet that they had lost and
now they just unlocked it and went, hey, thank god
I found that. Let's start selling. Who knows, But good
(01:26):
on them. But let's have a look at this particular
upgrade here. This is the Fusaka upgrade coming on in
the third December, and this brings in secure scaling and
a whole bunch of other changes, some U exchanges which
I think are very good for crypto adoption in general.
Let's have a look at what's happening here. So first off,
the l turned roll ups. The peer DAS I thought
(01:48):
was quite interesting in how this is put into place.
There's a video here that talks about peer das and
let me just play this because I think it explains
it really well.
Speaker 2 (02:00):
Oh so, what on earth is peered as well? It
stands for peer data availability sampling and it totally flips
the script on how network validators check data. See right now,
validators have to download all the transaction data from secondary
networks called layer twos with peered ass they don't have
to do that anymore. Instead, they can confirm everything is
(02:21):
legit just by checking a few tiny random samples of
the data. Instead of having to read an entire massive
book from cover to cover just to make sure it's
the right one, peered ass lets you just flip to
a few random pages. It's a mind blowingly efficient shortcut
that saves a ton of time and energy.
Speaker 1 (02:38):
I'll put a link to this particular video that goes
through all of the Fusaka upgrades as well, and I
thought that bit there was pretty good to just highlight
for explaining what this pid gas is. So essentially, instead
of downloading and looking up the entire history of the
l twos that need to be rolled up into the
(03:00):
main layer, we're just looking at certain parts of it,
certain sections, and confirming that it is all up to
date and all good. So that increases the amount of
space that is available in blocks to make that l
one more usable, you can cram in more transactions there,
So that's a really nice improvement there. The other one
that we have here is for apps and defied depths
(03:22):
to Saka brings lower transaction costs with instant feel ux
via based pre confirmations, lower transaction costs is definitely something
that everyone wants. This one here is around the wallet
side of things, and now the new R one curve
and EP seven ninety five one, so that's Etheroreym improvement
proposal are unlocking secure mobile native pass keys with simpler signatures. Now,
(03:48):
this one I absolutely love. So if you're using a
lot of modern websites, if you've got a Gmail account
for example, they've implemented in past keys as well, so
that you can use a simple click and sign or
a biometric to sign that it's you and be able
to log into that particular ecosystem, whatever it is. Implementing
(04:10):
that same level of security onto a wallet infrastructure makes
onboarding even easier and even faster. This is one massive
ux improvement that I think is really important for crypto
adoption and all chains I think should adopt this. So
we're going to see this replicated in the Kadano ecosystem,
(04:32):
Solana and so on, So hopefully we do see this
one as well on Kardano, so we can see a
lot of growth and adoption there as well. This one
here's for protocol infradevs. Forsaka brings higher gas limits from
forty five million to sixty million, so it gives you
that much more headroom for improvements there as well. So
if you want to read more about the upgrades, I'll
(04:54):
put the links to Ethereum roadmap there so you can
learn a little bit more about what they're doing and
what is invol with this particular upgrade. Now there is
some negative news as well, and this one's not good.
This one's with urn Finance that got a lot of
users on this protocol. Urn Finance one of defi's most
audited protocols that just got drained yesterday, a limited minting
(05:14):
bug in the yeath Pool, Cirtech trail of bits quant
stamp mint bikes have all audited yearn contracts, plus many
more millions spent on security theater, and users still lost everything.
This is what nobody wants to talk about. No Audit's
completely unacceptable with audits still not safe. So where does
(05:37):
this leave us? Stuck in security limbo, pretending we're ready
for mass adoption when we're clearly not truth the truth.
Audits catch surface level bugs. There are liability shields for founders,
not protecting, not protection for users. The checkboxes says lawyers
can say We did our due diligence, but they don't
(05:58):
catch sophisticated exploits. They don't prevent unlimited minting bugs. They
don't stop the creativity of attackers who think in ways
auditors never considered. Real security doesn't start with the audit.
It starts with proper foundations, smarter asset structures that eliminate
entire attack vectors, no approval mechanisms to exploit. Smart contract
(06:21):
designs with formal verification from day one, mathematically verified, not
just looks good to me. Protocol level protections, not band
aids on broken architecture. Chains like multi versus x, Kedano
and our grand build this in from the start, native assets,
not unlimited approvals. Security by design, not by afterthoughts. Meanwhile,
(06:47):
EVM chains keep building on the same broken foundations that
slap audits on top light that will fix it, it won't.
YARN is just the latest proof. There will be more tomorrow,
and next week and next month. We admit that the
hard truth Web three is still early. Infrastructure isn't ready,
and pretending otherwise just puts more risk, more users at risk.
(07:09):
We can't audit our way out of fundamental flawed architecture,
so stop acting like we can looking back here. And
this is probably the main reason why I am on Kardano,
why I have hold our grand as well. I don't
hold or a part of the multi x ecosystem, but
I'm a big holder and fan of Kadano, and it
(07:31):
is all coming down to the security layer there, formal verification,
high levels of security there. Kadano's never gone down in
its eight years since it's launched, and this is one
of the big things that I love about the ecosystem
and why I'm so bullish on the Cadano chain. None
of the smart contracts have been have been touched, would
(07:54):
have been hacked by hackers or my Licidity is still
in smart tracks and I'm there with a lot a
high level of surgacy that it won't be hacked unlike
many of the other protocols. And you can't expect adoption
to happen when you have headlines like this on a
regular basis. Last month, the last two months, I read
(08:18):
another report of the massive amount of hacks that had
happened across the EVM ecosystem. It's just one after another
after another, after threat after threat had been found, and
the EVM space is played by this unfortunately, and hopefully
you know, projects do look at some safer measures and
different ways of actually implementing their projects and launching on
(08:41):
multiverse x, Kadano and our grand and migrating their users over.
Who knows they might. It's a hard ass because I
know development is costly, it's a hard thing to move
users over, and liquidity over and all that. But you know,
if you're starting with a safe, sound and mathematically verified
(09:04):
protection mechanisms on the protocol itself, you're in a much
better starting place compared to what has happened in the space.
Overall unfortunate news with that, and I'm sure I'll be
reporting on more in the future as well. Now, I
thought this was quite interesting to learn about. And this
is a quote from this, and this is a post
(09:24):
from Sebastian. Sebastian is a highly repevable developer in the
Kadano ecosystem. He's built his own blockchain as well. He's
done a lot of really cool coding over the years,
and he's quoting here. Core solidity takes ideas from pure
functional programming languages I G. Haskell and Lean. Kadano is
(09:46):
built in Haskell. Impressive that in six years, Ethereum went
from the biggest critics of these ideas to one of
the biggest proponents, even rewriting their entire ledger and contract
language around them. But this is all around functional programming,
and this is one of the core security measures that
(10:06):
Kardano has taken to make sure that they're smart contracts
and the ledger itself is really secure. And Ethereum is
shifting taste, turning that giant ship around and moving into
the same type of programming that Kardana is built in.
It just proves that Kardano was way ahead of its time.
(10:29):
Ethereum did get to that market edge, first to market. Yes,
congratulations to them. And now they're trying to turn the
ship around as become like Kardano with liquid staking and
all these other things that make Cardano so appealing. Anyway,
if you want to read more of this post here,
I'll put a link down below. Does get a little
bit technical, so I won't go through it in this video. Okay,
(10:52):
that's all I have for this particular update around the
Ethereum space and this FORSAKA upgrade. Congratulations to the Theorem
ecosystem on this. It's going to be a really good
move for them overall. Will it move the price of
a theorem? I don't know. Usually when big news like
this comes out, you see like a bit of a
(11:14):
spike and then a market dump afterwards, when people take profits.
That's usually the pattern that you see, and I wouldn't
be surprised if we see that happen again. Always sell
on the news right by the rumor. Sell the news
as the saying goes. Anyway, if you got something out
of this, if you enjoyed my content, please hit that
thumbs up that like subscribe a notification bell on your
(11:35):
way out. I'll see you guys in the next video.
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