Crypto Trends 1 June 2020

Crypto Trends

A summary of the crypto trends for the week.

Gas prices

Gas prices remain around 20-30 gwei. This is a blocker for transactions of lower value items on Layer 1 such as games, social media, personal tokens and collectibles. This restricts innovation in these areas which is why I am hopefully optimistic for layer 2 rollup solutions.

A potential solution is EIP 1559, that could be end of 2020-ish (see Tweet thread).

Devcon 6 Bogotá, Colombia 2021


No Devcon this year, but potential for remote events for the remainer of 2020.

The next Devcon will be 2021 in South America! Whilst unfortunately not in Buenos Aires, and still not in the Southern Hemisphere, at least we are getting closer. With Devcon in Colombia, I think there is potential for satellite events in Buenos Aires and elsewhere in North/South America timezones assuming that there is decent live streams.

Polkadot mainnet launch

Mainnet!! Still early days as currently only a Proof of Authority chain for claiming dots and submit intentions to validate or nominate. Interested to see substrates tuned for specific domains, such as finance, gaming, social media.

Disclosure: I don’t have any Dots, but I do have a Polkadot t-shirt.

Novi digital wallet for Libra

Callibra wallet is now called Novi. In case you missed it, Libra are proposing to have a number of fiat stable tokens instead of a single digital currency based on a basket of currencies. Issues in my mind are around attaching identity to payments and what regulatory requirements are enforced on the network.

Whilst decentralization need Developers, Developers, Developers, decentralization also need users and Facebook has a couple of billion of them. One of the biggest use cases for Libra I see is remittance. The days of slow and expensive cross border transfers are hopefully numbered.

msg.signer and tx.gaspayer


Early discussions on a potential opcode to support meta transactions.

For detailed news see: Week in Ethereum News, EthHub and What’s New in Eth2

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Thanks for the trends @abcoathup!

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