After almost three months into the “reboot” of the C++ team, I would like to give an update about the team itself, what we did and what we plan to do.

Team update

The so-called C++ team currently consists of Paweł Bylica (@chfast), Greg Colvin (@gcolvin), Liana Husikyan (@LianaHus), Dimitry Khokhlov (@winsvega), Yann Levreau (@yann300), Bob Summerwill (@bobsummerwill), me (@chriseth) and (kindly “donated” by Eris Industries) RJ (@VoR0220).

Paweł is the original author of the llvm-based EVM-to-native just-in-time compiler, re-joined in April and will continue improving the JIT.

Greg joined in February and already achieved substantial speedups for the C++ implementation of the Ethereum Virtual Machine, using his experience from implementing the Java Virtual Machine for his former employer Oracle.

Liana and Yann are working on Solidity and its IDEs (yes, plural, see below!).

Dimitry is in charge of the consensus tests and is also working on the C++ core.

Bob joined in February (having been part of the community for a longer time) and is currently leading the ambitious effort of disentangling the C++ codebase. He was also a major contributor to the homestead guide.

RJ joined Eris industries in March and is working on the Solidity compiler.

Furthermore, the coordination and co-operation between the C++ and the Go teams is on a completely different level than before. One of the reasons why we improve the interpreter is to get a water mark for the go-ethereum interpreter and lessons learnt during that process will directly feed into the go interpreter, just to name one example.

Announcing Remix

Developing Solidity itself and providing resources and tools for people writing smart contracts and dapps is one of the largest areas of work for the C++ team. An essential such tool is a debugger for Solidity and the Ethereum Virtual Machine so that developers can “look inside” the virtual machine and find the exact spot in their code that is not doing what they expect it to do. Our IDE Mix is a wonderful piece of software that provides exactly this. Unfortunately, most people do not use it and prefer browser-solidity or just some unit testing tools.

This is understandable, people do not want to switch editors (I guess this is also why we got a vast number of Solidity plugins for existing IDEs in the past months) or install extra software. Furthermore, the relative amount of external contributions we received for the html5+js-based minimalistic IDE browser-solidity compared to C++/Qt-based Mix is just overwhelming.

Because of that and also in an effort to increase modularity, reusability and openness, we decided to rethink the way we want to provide developer tools: With the remix project we will create a set of reusable html5+js modules for developing and debugging smart contracts.

This means that it will be possible to integrate a debugger for EVM and Solidity into browser-solidity (which will also move to a more prominent place in the future), but also into visual studio code, atom, sublime, basically any IDE that is html5+js-based. You will even be able to fire up the debugger inside Mist, also for transactions in the past!

It is probably a bit too early to try out remix, but if you want, follow the instructions in the repository, but be sure to use the latest develop version of cpp-ethereum as backend node.

For everyone else: Here is a screenshot of an early proof of concept version:

Other Tasks

Concerning the current focus for other projects, we are improving the runtime performance of the virtual machine. Greg already made great progress in that area and still has a lot of ideas. We are currently setting up general benchmarks, so that we can compare the performance of different implementations and the difference between interpreters and just-in-time compilers. We plan to make the just-in-time compiler available to other implementations like py-ethereum and of course go-ethereum.

For Solidity, the main areas of work are currently fixed-point types, structs as part of the ABI and extending the usefulness of libraries via “inlineable” functions and templates. Furthermore, we would like to invite the community to write and publish useful libraries. Special thanks to Alex Beregszaszi (@axic), Nick Johnson (@Arachnid) and Andreas Olofsson (@androlo) for making a great start there!

Finally, we want to reduce the pain that is currently caused when working with the C++ codebase, especially due to external and intra-dependencies. We are already almost at the point where Solidity can be compiled in isolation and the goal is to move back to our old home, the ethereum/cpp-ethereum repository, splitting parts off only where it makes sense, namely for Mix, Solidity and EVMJIT.

Since the last C++ DEV Update, a lot of things happened in the engine room which were not really visible to the outside. This post wants to give an overview about what we are currently working on.

Apart from the features side, Bob has been working on a proposed process for re-licensing of the C++ runtime client code to Apache 2.0, as has been mentioned a few times in the past month or two. Expect more news on that very soon.

Eth Unit-Test Mode

Not only because it is essential for being able to perform our Solidity end-to-end tests via IPC, Dimitry Khoklov and others added some new RPC endpoints to the eth client which allow much more flexibility for testing smart contracts. If you use eth –test -d /tmp/test and connect to the ipc port at /tmp/test/geth.ipc (we recommend using ethereum-console for that because it already has these features added) you can:

• change the blockchain parameters (e.g. remove proof of work checking and pre-fund certain accounts)
• mine a certain amount of blocks (at around 30 blocks per second)
• modify the timestamp of the current block (to e.g. test timeouts in your contracts)
• revert the blockchain to a given block number

This allows us to run our currently 305 Solidity end-to-end tests in around 46 seconds on a moderate computer. Each of these tests include at least two (often more) transactions and the same amount of mined blocks.

More information about these features can be found at https://github.com/ethereum/ethereum-console.

Please note that this is currently only available for the binary that is provided via the ubuntu dev ppa.

Virtual Machine Speedup

Greg Colvin spent the last months speeding up the C++ implementation of the EVM interpreter. He harvested what he calls the low-hanging fruits (he worked for Oracle on the Java interpreter before…).   The most important improvements so far have been replacing 256-bit calculations with 64-bit calculations for gas metering, and making sure that no more metering calculations are done for each VM operation than necessary.  These and other changes resulted in the following results for Paweł Bylica’s nascent benchmark suite. The following chart shows the speedup relative to the old cpp ethereum interpreter (cpp int (old)).

To be fair, we have to tell what these benchmarks measure. The first benchmark (where the evmjit goes off the scale with a speedup of 472x) does a million empty loops, and shows how slow the EVM’s computed goto is compared to the direct jump of a JIT – fixing that is next on the stack.  The second benchmark is a bad random number generator that does a million loops with four multiplications and four additions per loop.  It is dominated by 256-bit calculations, so a JIT makes less difference.  (Note that the Go JIT does not compile to native code, but to a faster interpreted representation.)

In practice, these speedups will only be relevant to “number-crunching” contracts because the computation time is otherwise largely dominated by storage access. On the other hand, the “rng” benchmark is quite similar to cryptographic operations which pulls such things further into the realm of actual on-chain implementations.

Paweł Bylica is working on a C-language interface between the virtual machine implementation and the client that hosts it, with the goal of being able to plug different VMs into an Ethereum client. This way, geth can also potentially benefit from our changes to the C++ virtual machine and especially from the LLVM just-in-time compiler.

Note that these changes are not yet released, but they are part of the ubuntu dev ppa.

Remix

Yann Levreau and Liana Husikyan are working on our new EVM debugger remix. We released the alpha version some days ago:

Application – Instructions

For now, you can “only” use it to inspect every single step in the execution of any transaction in the blockchain, look at the current stack, memory and storage contents and see the sequence of instructions. The next step will be to also allow source-level debugging where you can see the current position in the source code, step on line or instruction level and see the decoded values of the variables (instead of only the raw hex values).

The debugger is for you, the community, and we were delighted to hear that etherscan has already integrated Remix into their blockchain explorer.

Repository Reorganisation

Bob Summerwill is dedicated to bringing back C++-Ethereum to its former home, https://github.com/ethereum/cpp-ethereum and thus remove the unnecessary and confusing split into multiple sub-repositories. We are making great progress there, one of the first really visible steps was to decouple the testing infrastructure of Solidity from the virtual machine implementation. The Solidity tests can now be compiled without the virtual machine and they are run by communicating with a specially configured eth process (the one mentioned above) over the regular IPC interface.

The next steps here are to disentangle the rest of the code, modify the test automation and continuous integration accordingly and perform the actual move.

Together with this step, we unfortunately have to say goodbye to Mix and AlethZero (the spirit of mix will live on in the new remix project). The burden they drag along would be too big, because it includes Qt and a tight coupling with Solidity. As already explained in earlier posts, a loose IPC-based coupling of these tools to a small client implementation makes us much more flexible and the community support that comes with a change to JavaScript and Web-based tools like remix and browser-solidity is just overwhelming in comparison.

Formal Verification

We are extending the existing formal verification tools integrated with Solidity to cross-contract calls. This would enable automated proofs that e.g. a recursive call attack is not possible against a certain contract. Also, as why3 (the tool we use to do the heavy lifting) was recently ported to browsers, we can probably expect it to be available right inside browser-solidity and other tools like blockchain explorers!

There is a first proof of concept including explanations that shows how automated verification can be used to show that it is impossible to steal money from a solidity contract, even if recursive calls are allowed.

This proof of concept will hopefully evolve into a usable tool in the next weeks.

Several people from the community and from inside the Foundation are currently working on tools for Solidity or the EVM in general. These include:

1. Solidity AST analysis for warnings by Dave Hoover (@redsquirrel)
2. A Read-Eval-Print version of Solidity by raineorshine: Solidity-repl
3. Control-flow analysis graph also by raineorshine
4. EVM disassembler by Nick Johnson

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A Solana treasury is becoming one of the fastest-growing crypto treasuries among big corporations, which sees the network’s robust performance and potential to revolutionize the blockchain sector. Presently, the idea is getting a major push from DeFi Development Corp, which has purchased a notable amount of SOL into its crypto treasury. 

Solana Treasury Companies Are Not Slowing Down

In a bullish development, DeFi Development Corp is doubling down on Solana, as the company constantly acquires the leading altcoin. Recent reports reveal that the firm has made another strategic buy to bolster its SOL treasury, pushing its aim to become the largest company holding the altcoin.

According to the report shared on the social media platform X, DeFi Dev Corp purchased 407,247 SOL at an average price of $188.68, resulting in a total value of approximately $ 76.8 million at the current price. Following this massive accumulation, the company’s treasury now holds 1,831,011 SOL, worth around $371 million. 

The action demonstrates DeFi Dev Corp’s steadfast conviction in Solana’s capacity for long-term growth and its growing significance in the dynamic DeFi market. In addition to strengthening its bank sheet, DeFi Dev Corp is putting itself at the forefront of Solana’s developing ecosystem, where developer activity and institutional interest are only growing stronger, by gradually expanding its assets.

Since the firm’s last purchase on August 15, 2025, its holdings have experienced an increase of more than 29%. The latest buy comes after DeFi Dev Corp’s recent announcement to raise about $125 million in equity to expand its SOL treasury. 

The initiative strengthens liquidity, expands network sustainability, and establishes Solana as a more robust participant in the developing blockchain market. “This raise allows us to add a significant amount of SOL to our balance sheet while still driving NAV/share accretion,” Chief Executive Officer (CEO) of DeFi Development Corp, Joseph Onorati.

SOL’s DeFi TVL At Its Highest Point

With institutional adoption rising sharply, Solana is experiencing a notable uptick in its network performance and engagement. SolanaFloor on X has reported that SOL’s Decentralized Finance (DeFi) ecosystem is experiencing an upswing, with Total-Value Locked (TVL) increasing to new levels.

On Thursday, data shows that SOL’s DeFi TVL spiked to a staggering $11.56 billion, marking its highest point since January 2025. The sharp uptick in TVL represents improving investor confidence, increased liquidity, and a wave of fresh activity across SOL-based protocols. 

Solana has also witnessed a notable uptick in Decentralized Exchange (DEX) volume. The report shows that SOL has reclaimed its top rank among all chains, recording approximately $4.604 billion, with Ethereum coming in second position.

Presently, SOL has turned bullish as the altcoin pushes forward to the $213 price mark, indicating a nearly 15% increase in the last 7 days. CoinMarketCap data shows that SOL’s trading volume is slowly turning bearish, falling by over 2% in the past day.

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Fifteen years after he first committed code to Bitcoin Core, Jeff Garzik still thinks the protocol will “outlast everything,” yet he no longer believes its flagship scaling project can keep pace with user demand. During a conversation with Bitcoin historian Pete Rizzo, the Hemi founder dismissed the Lightning Network as a “red herring” and laid out a roadmap in which programmable Layer-2s, not payment channels, bring the next billion users to BTC.

Bitcoin Lightning Is A Dead End

“Lightning is a failure. Very few people are using it, and it kept BTC locked on a bad sidetrack,” Garzik said, adding that the network “was a way to pump Lightning instead of alternate working solutions like layer-twos.”
He pointed to hard numbers: “Look at the outcome. We have roughly 5,000 BTC on Lightning after seven years. Wrapped Bitcoin on Ethereum alone is 25 × that. Capital has already voted.”

Garzik blames Lightning’s limited traction on what he calls Bitcoin’s “vetocracy”—a governance culture in which any one faction can veto consensus changes. That culture, he argues, has “o-ified” the base layer since the 2017 block-size stalemate: “Bitcoin development basically stopped after 2017. OP_CAT, covenants—perfectly safe opcodes—have been studied to death, but the politics won’t let them in. So builders left. They went where they could ship.”

According to the former Core maintainer, the flight is measurable. Public Lightning capacity hovers near 5,300 BTC, or roughly $500 million, while Wrapped BTC and related bridged tokens now exceed 130,000 BTC—over $14 billion in raw collateral. Node counts tell the same story: about 16,000 publicly visible Lightning nodes versus more than 600,000 addresses holding Wrapped BTC.

Garzik’s critique is philosophical as well as technical. He repeated a line that startled the live audience: “Bitcoin is a social network first and a monetary network second. Its value comes from people coordinating around it, not from any single line of code. But that same social layer can veto innovation, and that’s how we got stuck.”

Because the social consensus resists base-layer change, Garzik sees the future in sidechains like his own project, Hemi. The platform embeds a fully validating BTC node inside an Ethereum-compatible roll-up, secured by proof-of-proof mining and BitVM fraud proofs. Smart contracts can “read and act on Bitcoin Layer-1 without custodial bridges,” he said, calling the design “EVM trial-by-fire grafted onto Bitcoin super-finality.”

“All the things built in the past fifteen years—stablecoins, DeFi, identity—are coming to Bitcoin. The only question is whether Lightning zealots will stand in the way.”

Lightning proponents note that capacity figures exclude private channels and that routing revenues are beginning to attract professional operators. Yet even bullish research from Fidelity Digital Assets concedes that public capacity has plateaued between 4,400 BTC and 5,600 BTC since 2022, growing far more in dollar terms than in coins.

Garzik argues that stagnation is structural: “Lightning is great if you want to move a coffee-cup’s worth of Bitcoin at light speed. It’s useless if you want autonomous lending, derivatives, or billion-dollar settlement. For that you need programmable trust, and Lightning doesn’t have it.”

But Bitcoin Will Outlive Everything

Despite the criticism, Garzik underlined that BTC’s monetary role is secure. “Bitcoin will live alongside gold. It’s the trunk; everything else is the foliage,” he said. The inevitability thesis rests on network effects, regulatory clarity, and deep-pocketed holders such as sovereign wealth funds: “Every incentive in the system points back to Bitcoin. That won’t change.”

But inevitability, he warned, is not growth: “Bitcoin isn’t going away, but it isn’t upgrading either. If we want self-sovereignty for eight billion people, we have to extend programmability without compromising the asset the world already trusts. That means Layer-2s—and that means leaving Lightning in the rear-view mirror.”

Whether the broader ecosystem agrees may hinge on tangible metrics in the coming year: capital allocated to Lightning versus emerging BitVM roll-ups, node counts versus wrapped-BTC supply, and, ultimately, the fees users are willing to pay for each path. For now, Garzik’s message is blunt: Bitcoin’s future is assured, but Lightning is not.

At press time, BTC traded at $108,838.

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Ethereum developer Zak Cole is spearheading a new initiative called the Ethereum Community Foundation (ECF), which will primarily work to enhance the digital asset’s economic value.

The initiative was announced during the Ethereum Community Conference in Cannes, France.

Founded by Cole and a group of ecosystem supporters, the ECF has reportedly already raised “millions” and intends to allocate its treasury to projects that enforce immutability, avoid issuing new tokens, and implement mechanisms to burn Ethereum (ETH).

These requirements align with the foundation’s mission to reduce circulating ETH supply and strengthen the network’s monetary policy.

The ECF’s initial initiative, known as the Ethereum Validator Association (EVA), will give validators greater influence in protocol development by enabling them to signal preferences using their staked ETH.

The EVA will also invest in validator infrastructure to improve decentralization and network security.

Beyond validator initiatives, the ECF aims to fund real-world asset integrations that bring traditional financial instruments such as stocks, bonds, and real estate onto Ethereum’s blockchain. The foundation views these integrations as critical to institutional adoption, which it sees as a key driver of long-term network value.

Additionally, the ECF will prioritize funding for public goods that address technical challenges within the Ethereum ecosystem, including adjustments to mispriced blob space used in data availability layers.

Funding decisions will be governed by coin voting, allowing the broader Ethereum community to participate in determining grant allocations. The ECF has emphasized that all funding decisions, treasury movements, and project milestones will remain publicly transparent to ensure accountability and alignment with the community’s goals.

The launch of the ECF comes at a pivotal time for Ethereum, as the network undergoes a reorganization following executive changes at the Ethereum Foundation.

The ECF’s mandate extends to engaging with governments, regulators, and policymakers to promote Ethereum as a trusted institutional infrastructure layer. While specific backers of the foundation have not been publicly disclosed, further announcements regarding its supporters and upcoming funding rounds are expected in the coming weeks.

By focusing on projects that reinforce ETH’s economic integrity without introducing new tokens, the ECF is positioning itself as an alternative funding avenue within the ecosystem. It aims to complement but also differentiate from the Ethereum Foundation’s current priorities.

Mentioned in this article

A North Korean developer gained elevated privileges inside Waves Protocol’s Keeper-Wallet codebase, according to a June 18 report by Ketman.

The report highlighted routine scans for Democratic People’s Republic of Korea (DPRK) activity on GitHub, which uncovered the account “AhegaoXXX” pushing updates to Keeper-Wallet. 

The wallet’s repositories showed no legitimate commits after August 2023, yet they received multiple dependency bumps beginning in May 2025. 

Repository analytics indicated that the user can open branches, create releases, and publish to the Node Package Manager (NPM) registry, giving the operator complete control over the organization.

The report then linked “AhegaoXXX” to contracting rings of DPRK IT workers, which had previously used freelance channels to infiltrate software projects.

The account’s reach extended beyond simple maintenance. Redirect rules inside the main Waves Protocol namespace now point to identical packages inside the newly active Keeper-Wallet namespace, suggesting an insider moved code from the core organization to the wallet project.

Suspicious code changes

The report also mentioned one commit inside “Keeper-Wallet/Keeper-Wallet-Extension” that adds a function exporting wallet logs and runtime errors to an external database. 

The modified routine captures mnemonic phrases and private keys before transmission, raising the likelihood of credential exfiltration. The branch remains unmerged, but its presence indicates an intent to include the code in a production release.

The NPM registry records reflect related activity. Versions of “@waves/provider-keeper,” “@waves/waves-transactions,” and four other packages suddenly advanced after two years of dormancy. 

Each publication lists “msmolyakov-waves” as a maintainer. GitHub history shows that the account belonged to former Waves engineer Maxim Smolyakov and exhibited no activity since 2023 until it approved a pull request from “AhegaoXXX” and triggered a new NPM release in under four minutes. 

The report assessed that the engineer’s credentials now fall under DPRK control, providing the attacker with a second trusted path to distribute malicious builds.

Supply-chain exposure and countermeasures

The shift from isolated freelancing to direct repository control marks what the report called an “unusual cross-over” between ordinary DPRK contract work and an overt hacking campaign.

Download counts for affected packages remain low, but any Waves user who installs or updates Keeper-Wallet risks importing code that forwards secret phrases to a hostile server.

The publication advised development teams to tighten supply-chain defenses, including audit contributor privileges, removing inactive members from GitHub organizations, tracking who can trigger package releases, and monitoring repository redirects across ecosystems such as npm and Docker. 

Lastly, the firm encouraged regular reviews of publisher e-mail domains to detect dormant accounts that could approve rogue updates.

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Sebastien Guillemot, co-founder of Paima Studios and dcSpark, jolted the Cardano developer community on X this afternoon with a terse progress report: “We’re up to 3 full-time developers working on Starstream (on top of myself)… We’re accelerating development to bring it to mainnet faster given all the interest.”

The message, though only two sentences long, signals a meaningful resource shift inside the still-nascent Starstream working group and suggests that Cardano’s first zero-knowledge virtual machine (zkVM) may appear on mainnet sooner than previously expected. No target block height or hard launch window has been released, but the acceleration comes barely five weeks after founder Charles Hoskinson publicly supported the working group, calling the project “a core component of Cardano’s future.”

Why Starstream Matters For Cardano

Starstream matters because it tackles the single most common criticism of Cardano’s extended-UTXO ledger: the difficulty of building stateful, privacy-preserving applications without fracturing logic across dozens of validator scripts. In Cardano’s eUTXO model every piece of contract state lives inside its own unspent output, a design that grants parallelism and determinism but complicates long-running workflows and advanced cryptography.

Research groups inside IOG have explored adding recursive SNARKs to Plutus, yet a production implementation has remained elusive. Starstream’s answer is to step outside Plutus entirely and embed a coroutine-oriented zkVM that compiles to WebAssembly, executes off-chain, and seals each state transition inside a succinct proof verified on-chain by a lightweight Plutus wrapper.

“Starstream is a chain-agnostic, UTXO-based, zero-knowledge virtual machine that re-imagines smart-contract execution using coroutines as its foundational primitive,” notes the original technical overview published on Cardano Explorer in late April.

Coroutines give developers something they have never had: a single, linear program that can pause mid-execution, emit a UTXO that holds both data and the exact byte-code position, and later resume when a new transaction spends that output. A yield point in Starstream therefore becomes a cryptographically secured checkpoint; when the program wakes up, it needs only prove—rather than re-execute—the suspended segment.

The result is a state machine that preserves UTXO determinism while natively supporting multi-step workflows such as auctions, lending loops or on-chain games, all without shared-state contention.

Notably, Cardano has historically proceeded through carefully staged hard-fork combinator events by Hoskinson-led Input Output (IOG); Starstream, by contrast, is being built as an opt-in execution layer that can be grafted onto Cardano without a network-wide fork, making its path to mainnet limited chiefly by audit, peer review and tooling.

At press time, ADA traded at $0.684.

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On April 17, 2025 we opened a Dev Fund Poll of the Zcash Community Advisory Panel (ZCAP) to determine which of the funding proposals have the most support, or if the Dev Fund should end and 100% of the block rewards should go to miners. Additionally the poll surveyed community members about prioritizing an extension of the Dev Fund and implementation of a new funding model, even if it requires postponing NU7. 

128 ZCAP voters participated in this poll, representing 64% of the total number of members. The results appear below.

Q1: Which of the following funding proposals do you support? You can select more than one proposal.

• Community and Coinholder Funding Model (C&C) (84 votes/32.3%)
• Community-Governed Funding Model (41votes/15.8%)
• Pure Coinholder Funding Model (28 votes/10.8%)
• Pure ZCAP Funding Model (39 votes/15.0%)
• Zcash Governance Bloc (zBloc) (44 votes/16.9%)
• The Dev Fund should end and 100% of the block reward should go to miners. (24 votes/9.2%)

Note: This question allowed for multiple selections, therefore the percentages above represent the total number of votes for each option, based on a total of 260 selections made across all options. 

Q2: Do you support prioritizing the extension of the Dev Fund and the implementation of a new funding model, even if it requires postponing NU7?

• Yes (66 votes/51.6%)
• No (43 votes/33.6%)
• Abstain (19 votes/14.8%)

Based on these results we can conclude that the Community and Coinholder Funding Model (C&C) has the greatest level of support and that an extension of the Dev Fund and implementation of a new funding model is ZCAP’s recommended path forward. The outcomes of this poll will be considered along with the ZAC and coin holder polls to determine if there is community consensus. 

We would like to express our gratitude to everyone who contributed to this process. Thank you to those who drafted proposals, engaged in discussions and debates on the Zcash community forum, across social media, and during community calls. Additionally, we appreciate those who organized alternative community polls and are grateful to everyone who took the time to vote.