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• Polygon’s Madhugiri hard fork is activated at 80084800.
• Fusaka EIPs improve network security, enable one-second consensus, and support sophisticated gaming and financial transactions.

Polygon is preparing for its Madhugiri hardfork, which is activated today. The upgrade introduces Ethereum’s Fusaka EIPs – EIP 7883, 7825 and 7823 – to increase the pace and strengthen the network for its growth.

Tomorrow, Polygon is upgrading to make future speed boosts easier to ship, and increasing network throughput by 33%.

The Madhugiri Hardfork makes certain throughput increases as easy as flipping a few switches. It also continues to improve network stability and adds support for… https://t.co/SFu3AhtjVM pic.twitter.com/vNoT65BKGV

— Polygon | POL (@0xPolygon) December 8, 2025

The hard fork brings a 33% increase in network throughput through improved consensus timing and optimized block structuring. The POL network can now adjust block times without the need for future upgrades. Validators and developers benefit from faster node synchronization, reducing operational stress during times of high demand.

In addition to optimizing throughput and synchronization, the hardfork also increases security. The Fusaka EIPs introduce strict gas restrictions and limit calculation operations to a maximum value. The changes are intended to mitigate vulnerabilities and align the Polygon execution environment with Ethereum standards.

Polygon accelerates consensus and block upgrades

Madhugiri also enforces PIP-75 and PIP-74, enabling one-second consensus intervals and canonical incorporation of StateSync data into block bodies. Polygon emphasizes that users do not need to take any action during the update. The network ensures a smooth transition to a faster and safer environment.

The new block structure and timing improvements allow Polygon to process transactions more smoothly. Faster consensus building and improved block creation increase performance under heavy usage. The upgrade ensures that gaming, DeFi and other heavily used applications run smoothly and the network can easily handle growing demand.

Technical monitoring shows the stability of the network before activation. Throughput and block production metrics suggest that the new rules can be implemented. Observers are waiting for the hardfork to validate Polygon’s ability to scale and verify that it meets security standards.

Germany has followed the trend towards regulated blockchain with a €100 million digital bond issued by NRW.BANK on the POL platform in accordance with the Electronic Securities Act (eWpG). The issuance process was managed by a BaFin-licensed registrar and monitored by Deutsche Bank, DZ BANK and Deka-Bank.

• A Zcash developer has presented a detailed framework for a dynamic fee system that is intended to bring more security.
• It stipulates that transaction costs are adjusted based on current comparative data and simulated congestion.

Shielded Labs, an independent Swiss organization that supports Zcash (ZEC), presented the “Zcash Dynamic Fees Lab” proposal. Looking at historical context, he notes that fees originally started at 10,000 zatoshi before dropping to 1,000. However, these low base fees made the network vulnerable to “sandblasting attacks,” where large numbers of transactions could bring down the chain. Shielded Labs states:

“In response, Zcash Dynamic Fees Lab introduces Action Abstraction, which combines transparent inputs and outputs, Sprout JoinSplits, Sapling Outputs and Orchard promotions into a single accounting unit.”

The aim is to create a market where customers pay fees based on recent transaction activity, with adjustments made based on network congestion. This approach relies on analyzing the fees that customers have recently been willing to pay and using it as comparative data.

This comparison-based pricing is common, for example in NFT collectibles and real estate.

This is how it works

The system calculates a baseline based on the last hour’s activity, typically around 50 blocks, and adds a buffer of 5 blocks to prevent tampering. To model an always-active network, synthetic transactions of average size are included. The initial minimum price can be very low as it is adjusted upwards over time.

The standard fee is then defined as the average fee per action from the observation period. To support the network sustainability mechanism, the minimum price should be divisible by five, so that around 60% of the transaction fees can flow back into the issue.

To simplify the system and reduce fee fluctuations, the average fee per action is rounded to the nearest power of ten, which also limits information loss and reduces the potential for transactions to be linked. Over time, the median fee will increase and customers will be able to prioritize their transactions by temporarily enabling a “fast track” with a 10x fee multiplier, while miners will be expected to process higher fee transactions first in their own economic interest.

The rollout will initially begin with a monitoring phase, followed by a strategy phase and a consensus phase to enforce on-chain fees, as well as threat modeling to protect against spam and potential privacy leaks.

Interest in Zcash has also grown among institutions. How CNF reportedGrayscale has filed with the SEC to convert its Zcash trust into an ETF and plans to list it on the NYSE Arca under the ticker “ZCSH” to provide investors with regulated exposure to Zcash.

• Vitalik Buterin appreciated the result of PeerDAS’s resolution of the network’s point-to-point problems and coordinated governance changes.
• This complements the network improvements from the Fusaka and Pectra upgrades, which had already improved network performance.

The Ethereum Foundation had previously focused the majority of its R&D efforts on the core elements of blockchain: cryptoeconomics, consensus protocols and block layer mechanisms.

Ethereum inventor Buterin said this in one X-Post an:

“For years I have been complaining internally at the foundation that we do not have enough expertise about P2P: we think a lot about crypto-economics, BFT consensus and blocks, but we take the P2P network layer for granted.”

Limits of the Ethereum network

Ethereum’s networking stack was not developed with the same attention as the consensus layer. As a result, clients such as Prysm, Lighthouse, Teku and Nimbus sometimes experience slow propagation.

The P2P layer lacked deep defensive engineering, formal threat modeling, and robust specification coverage. This left Ethereum more vulnerable to Eclipse attacks, which isolate a node, and even Sybil infiltration, where malicious peers dominate local peer lists.

Ethereum delegated large parts of the network to libp2p, which is largely maintained outside the Ethereum Foundation. This caused errors to persist longer than they should have. Additionally, the blockchain faced a single point of failure risk when libp2p development stalled while bandwidth and CPU utilization were higher than optimal for years.

Vitalik continued in his post:

“I think that’s no longer true, and PeerDAS shows that. Raulvk and others at the Foundation have done great work to get PeerDAS running so smoothly and to lay out a roadmap that simultaneously increases the speed of distribution, resiliency and data protection at the network level. I look forward to continuing to advance this work.”

The Fusaka network upgrade was recently implemented. One of its most important functions is the peer data availability sampling “PeerDAS” via EIP-7594. This allows validators to check parts of large blocks of data instead of having to download everything. With Fusaka, Ethereum’s block gas limit has also been increased from around 45 million to 60 million, which could result in an estimated 40-60% reduction in Layer 2 fees.

The proportion of ETH tokens held on central exchanges is limited to only 8,7 % fell to its lowest level since the introduction of Ethereum. At the same time, the price has recovered, with ETH rising by 3.115 $ fluctuates after rising after an increase of 10 % briefly in the last week 3.200 $ had risen.

• BlackRock has filed for an iShares Ethereum Staking Trust with the US Securities and Exchange Commission (SEC).
• Meanwhile, WisdomTree has filed for the first fully collateralized Ethereum ETP in the European Union.

In November, BlackRock confirmed its intention to launch the iShares Ethereum Staking Trust (ETHB) after registering the name in Delaware.

Last Friday, BlackRock submitted its S-1 Registration Statement with the SEC. This begins the review process by the authority.

In June 2024, BlackRock launched an Ethereum spot ETF on Nasdaq, offering investors regulated exposure in Ethereum offers. However, the regulator at the time, led by Gary Gensler, did not allow ETFs to generate investment income through staking.

Under the new SEC chairman Paul Atkins, this is now being moved away from. BlackRock and VanEck are among the issuers resubmitting or modifying their ETF applications to allow staking.

While others are modifying their existing products, BlackRock has decided to launch an entirely new fund.

According to the application, the iShares Ethereum Staking Trust fund will not only track the price of Ethereum, but also provide staking returns at the same time. The application states:

“The Trust will not use leverage, derivatives or similar arrangements to achieve its investment objective.”

According to the filing, Coinbase Custody will serve as the primary custodian, while Anchorage Digital is listed as a secondary alternative. BlackRock announced that the filing, once approved, will trade on Nasdaq under the ticker ETHB. Only authorized participants are allowed to create or redeem shares in large blocks.

WisdomTree launches first ETH ETP with liens in the EU

• A recent Ripple share sale offers investors guaranteed returns through buyback rights and a protection clause – it could be expensive for Ripple.
• Safeguards tie profits to XRP exposure and provide large funds with a cushion against crypto fluctuations.

Ripple’s recent $500 million share sale has come under fire after details emerged showing investors were granted terms designed to protect returns regardless of market performance. Participants, including Citadel Securities and Fortress Investment Group, will be allowed to sell their shares back to Ripple after three or four years at a fixed annual return of 10%, provided the company does not go public before then.

Sea Bloomberg kept himself Ripple too reserves the right to repurchase the shares during the same period, but under more demanding conditions. If Ripple decides to buy back, it would have to pay out an annual return of 25%.

This structure appears to protect investors from the risk of loss and guarantee a profit even if Ripple’s value stagnates or the crypto market weakens. The group of investors includes big names such as Marshall Wace, Brevan Howard, Galaxy Digital and Pantera Capital.

Share buyback could cost Ripple $732 million

If Ripple were to buy back the shares after four years at a 10% annual return, the company would have to raise $732 million. This figure reflects the cost of meeting the guaranteed return included in the agreement.

The share sale also included a liquidation preference clause that gives new investors priority over previous shareholders if the company is sold or goes bankrupt.

Investor filings reportedly show that about 90% of the company’s total net assets are tied to XRP, the company’s proprietary digital token. This shows that investing in Ripple in this case is a big bet on the future development of XRP.

As of July, the company held about $124 billion in XRP, with much of it either locked or gradually being released. Since mid-July, XRP has lost over 40% of its value and has fallen 16% since October 31st. XRP is currently being used at 2,09 $ traded, resulting in an increase von 3,22 % in the last 24 hours.

Despite these market fluctuations, recent investor protection measures have helped the company maintain a valuation near $40 billion during the funding round. This suggests that traditional financial players are seeking downside protection when entering crypto companies and are treating them more like structured finance products.

• Charles Hoskinson presented the Cardano 2026 roadmap and presented the new Midnight protocol Jolteon.
• The NIGHT token has been on the market since the end of last week, and the first major crypto exchanges are already listing it.

In conversation with David Gokhshtein, Cardano founder Charles Hoskinson provided details on the technology and strategy behind the phased launch of Midnight, the network’s privacy-focused sidechain. Hoskinson explained that customers should expect updates approximately every three months.

Hoskinson explainedthat Jolteon will be Midnight’s core protocol. Jolteon is designed to allow the network to process up to 5,000 transactions per second while keeping block times under one second, making Midnight one of the fastest blockchains in development:

“And then the whole thing is pushed to the mainnet, and everything is connected. So it’s going to be an endless log for about 9 months. But when you start with liquidity, then you get dapps, then you get infrastructure, and then you get the whole end-to-end package. So I like the launch plan. Every month we get some kind of new goodie and a new wave of partners.”

Die Midnight-Roadmap

The Midnight roadmap has already been set in motion with Phase 1, in which the NIGHT token was launched on Cardano on December 4th. The first token transfers were made to core network participants and the project activated its redemption smart contracts.

As CNF reported, Midnight’s rollout will continue in phases over the next year to gradually expand the network. The second phase is intended to go beyond token activation to structured on-chain functions.

After that, Phase 3 will introduce the Scaled Incentivized Testnet, inviting developers, testers and eventually community validators to participate, with a focus on decentralization. As CNF reported, the final phase will see the launch of hybrid DApps.

The NIGHT distribution has been structured for sustainability by using a 360 day “thaw schedule” where each eligible address is assigned a random initial unlock date between December 10, 2025 and early March 2026, with three additional unlocks every 90 days.

Rather than encouraging short-term speculation, this staggered drop schedule will help maintain stability and growth. Now that NIGHT is on the market, it has already launched on five crypto exchanges: OKX, HTX, Bybit, MEXC, and Gate.io. This will guarantee immediate robust liquidity and global presence. Binace now also has the listing confirmed.

• Vitalik Buterin has proposed a trustless onchain gas futures market that would insure Ethereum customers against future transaction fees.
• Critics say the model lacks a natural short side and is difficult to implement.

In a recent one published article On

He wants to create a trustless on-chain gas futures market, which would mean Ethereum gas fees would be more predictable for customers. Gas fees cover the computing costs of interacting with the Ethereum-Blockchain ab.

Buterin wrote:

“Users often ask whether today’s relatively low fees will persist over the next two years, even as Ethereum scaling work continues.”

To solve this problem, Buterin proposed a futuristic system to the Ethereum community. In what Buterin calls a “base-fee forecast market,” gas could be purchased in advance for specific future periods. In this way, customers could protect themselves against rising network costs, which usually occur when network activity is high.

Buterin said such a market would “provide a clear signal of people’s expectations regarding future gas fees” and improve transparency across the system. Buterin wrote:

“Customers would receive a clear signal about expectations of the level of future gas fees and would be able to protect themselves against future increases by prepaying for a specific amount of gas at a specific time interval.”

criticism

The idea has been questioned from several quarters, including Hasu, Flashbots’ pseudonymous strategy manager. According to him, many users want to protect themselves against higher gas prices, which means that there is a lot of demand for long positions on gas.

Funny wrote on X:

“The problem is that this market has no natural short side. A lot of people are short gas and want to hedge. But no one is long gas. There may be some noise in trading, but not enough interest to create a market of any meaningful size.”

Buterin then asked whether “the protocol should be the short side” and suggested an on-chain auction for the rights to claim the base fee. A possible solution could be to let the protocol act as a short side, possibly through an on-chain auction.

Rights could be granted to demand basic fees for parts of the block gas. Hasu countered that such buyers would still return almost all of the value to the protocol itself, which would reduce incentives and not resolve the central imbalance.

• Poland’s Prime Minister Tusk blames Russian influence for blocking stricter crypto regulations to prevent fraud.
• President Nawrocki does not accept the argument of increasing fraud crimes and claims that the new law would threaten freedom.

Poland’s Prime Minister Donald Tusk has Russia accusedto play a role in blocking a law regulating crypto markets in the country. His attempt to overturn President Karol Nawrocki’s veto of the law failed in a secret parliamentary session on December 5 after the opposition refused the support needed for a three-fifths majority.

Tusk claimed that the crypto industry was being used by Russian and Belarusian interests to interfere in Polish affairs. He called this a national security issue and said that “part of the crypto market is clearly infiltrated and controlled by Russian and Belarusian entities.”

During the vote, the parties split along political lines. The opposition, including the conservative Law and Justice party (PiS) and the right-wing Confederation, sided with the president and refused to help the government push through the law.

Presidential veto sparks dispute over crypto rules

President Nawrocki vetoed the bill on December 1, saying the proposed rules were too strict and “a real threat to the freedoms of the Polish people.” He argued the bill gave financial regulators powers that could harm economic freedom because they could too easily block websites and freeze accounts.

Tusk’s government then accused the president of exposing Polish citizens to increased risks of fraud. She pointed out that 5,800 cases of fraud related to cryptocurrencies have been reported in recent years. Tusk warned that those who upheld the veto would “regret their decision in a few days.”

The president denied the allegations. On the YouTube channel Kanał Zero, Nawrocki explained:

“I have not received any information from the security services about the use of cryptocurrencies either before my veto of the law or after.”

He insisted that if there were security concerns, he as head of state should have been informed early on.

PiS MP Janusz Kowalski accused Tusk of using secrecy to spread fear and called for the secret material to be made public. Nawrocki’s chief of staff Zbigniew Bogucki questioned the delay in presenting the bill and asked why the Tusk government did not act sooner if the threat was so serious.

Now Nawrocki wants to present his own version of a crypto law to parliament. His office has not released any details. The dispute increases tensions between the president and the prime minister. In November, Tusk restricted top security chiefs’ access to Nawrocki, who then refused to approve security-related promotions.