Network
Launch Date
Consensus
Note
Sepolia
Oct 2021
PoW
Like-for-like representation of Ethereum
Görli
Jan 2019
PoA
Proof-of-Authority
Kiln
Mar 2022
PoS
Post-Merge (for ETH2), shadow fork of the mainnet
Kintsugi
Dec 2021
PoS
DEPRECATED, use Kiln; post-Merge (for ETH2)
Ropsten
Nov 2016
PoW
DEPRECATED, use Sepolia; the Merge to happen on Jun 8, 2022
Rinkeby
Apr 2017
PoA
DEPRECATED, use Görli and Görli Faucet
Kovan
Mar 2017
PoA
DEPRECATED, use Sepolia or Görli
List of active and deprecated Ethereum testnets, including Kintsugi.
Features
Optimistic rollup 
ZK-rollup 
Proof
Uses fraud proofs to prove transaction validity. 
Uses validity (zero-knowledge) proofs to prove transaction validity. 
Capital efficiency
Requires waiting through a 1-week delay (dispute period) before withdrawing funds. 
Users can withdraw funds immediately because validity proofs provide incontrovertible evidence of the authenticity of off-chain transactions. 
Data compression
Publishes full transaction data as calldata to Ethereum Mainnet, which increases rollup costs. 
Doesn't need to publish transaction data on Ethereum because ZK-SNARKs and ZK-STARKs already guarantee the accuracy of the rollup state. 
EVM compatibility
Uses a simulation of the Ethereum Virtual Machine (EVM), which allows it to run arbitrary logic and support smart contracts. 
Doesn't widely support EVM computation, although a few EVM-compatible ZK-rollups have appeared. 
Rollup costs
Reduces costs since it publishes minimal data on Ethereum and doesn't have to post proofs for transactions, except in special circumstances. 
Faces higher overhead from costs involved in generating and verifying proofs for every transaction block. ZK proofs require specialized, expensive hardware to create and have high on-chain verification costs. 
Trust assumptions
Doesn't require a trusted setup. 
Requires a trusted setup to work. 
Liveness requirements
Verifiers are needed to keep tabs on the actual rollup state and the one referenced in the state root to detect fraud. 
Users don't need someone to watch the L2 chain to detect fraud. 
Security properties 
Relies on cryptoeconomic incentives to assure users of rollup security. 
Relies on cryptographic guarantees for security. 
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DeFi
tracking pyusd

Tracking PYUSD, PayPal’s New Stablecoin, and Its Unique Onchain Behavior

Learn How to Track All of PYUSD's Onchain Transactions Using Custom Webhooks in Seconds
Last Updated:
August 7, 2023
Table of Contents
Table of Contents
Table of Contents

{{building-alchemy-ad}}

On August 7th, 2023 PayPal announced their new stablecoin, PYUSD. Here’s how to use Custom Webhooks to stream onchain events in real time for the PYUSD smart contract.

How to Track Onchain PYUSD Activity

Tracking the onchain activity for PayPal’s PYUSD smart contract, 0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E, using custom Webhooks is a matter of creating a new GraphQL webhook, copying a simple code snippet, and entering in your webhook URL!

1. Log into Alchemy’s Custom Webhooks

Sign up or log into your Alchemy account and create a new custom webhook. 

Create a GraphQL Webhook from Alchemy's Dashboard

For more details, follow this step-by-step guide to set up a custom webhook.

2. Paste in the PYUSD code snippet

Create a new webhook using a blank template. Paste in your webhook URL (where you want the events to be streamed).

Creating a Custom Webhook to Stream Onchain Events for PYUSD

Next, copy and paste this code snippet into your new GraphQL webhook:

# Get all Approval() events emitted by the PYUSD contract
  {
    block(hash: "0xaaf4228db65eab92357c124ff8f8f1c5da72a04da660e147157cd4dfd8eb44d6") {
      logs(filter: {addresses: ["0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E"], topics: ["0x8c5be1e5ebec7d5bd14f71427d1e84f3dd0314c0f7b2291e5b200ac8c7c3b925"]}) {
        account {
          address
        }
        topics
        transaction{
          hash
          index
          to{
            address
          }
          from {
            address
          }
          status
        }
      }
    }
  }

Here's what the important parts of

  • Block hash - the reference number of a block in a blockchain
  • Addresses - the smart contract address for PYUSD's ERC-20 token
  • Topics - the topic describes the event that the webhook will track

3. Start Receiving Events at your Webhook URL

Once published, your webhook URL should start receiving all events emitted by the PYUSD contract.

Event Stream from the PYUSD Smart Contract

Each transaction that happens using PayPal’s stablecoin will now be accessible to you via JSON. While some may use this data to create a Twitter bot for large transactions, others may find other unique insights!

4. Stream to AWS

Want to ingest, store and retrieve real-time PYUSD blockchain data with a serverless API? Read our step-by-step guide to stream blockchain data to AWS in real-time.

What is PayPal’s Stablecoin PYUSD?

PayPal has announced its intentions to become a major bridge between the Ethereum, onchain ecosystem and the traditional fiat system via its new “PayPal USD” stablecoin.  PayPal USD is an ERC-20 token claimed to be redeemable 1-1 for US Dollars. The stablecoin is issued by Paxos Trust Company who hold assets in their reserves to back the PYUSD token. 

PYUSD is the only stablecoin that PayPal will support for the time being, making it desirable for PayPal’s customers who want to quickly move on and offchain. PayPal’s new “Checkout with Crypto” feature will also allow customers to spend PYUSD at checkout. 

What makes PayPal’s PYUSD interesting to track?

While all of Ethereum’s onchain activity is trackable with Custom Webhooks, the introduction of a digital payments giant into the ecosystem marks era. PayPal will support transferring PYUSD from the PayPal app to Ethereum wallets. This, and other transactions occurring with the stablecoin, may provide insightful onchain analysis.

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DeFi
tracking pyusd

Track Onchain Events for PYUSD, PayPal's New Stablecoin

Learn How to Track All of PYUSD's Onchain Transactions Using Custom Webhooks in Seconds
Last Updated:
August 7, 2023
Last Updated:
March 14, 2023
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Table of Contents

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{{building-alchemy-ad}}

On August 7th, 2023 PayPal announced their new stablecoin, PYUSD. Here’s how to use Custom Webhooks to stream onchain events in real time for the PYUSD smart contract.

How to Track Onchain PYUSD Activity

Tracking the onchain activity for PayPal’s PYUSD smart contract, 0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E, using custom Webhooks is a matter of creating a new GraphQL webhook, copying a simple code snippet, and entering in your webhook URL!

1. Log into Alchemy’s Custom Webhooks

Sign up or log into your Alchemy account and create a new custom webhook. 

Create a GraphQL Webhook from Alchemy's Dashboard

For more details, follow this step-by-step guide to set up a custom webhook.

2. Paste in the PYUSD code snippet

Create a new webhook using a blank template. Paste in your webhook URL (where you want the events to be streamed).

Creating a Custom Webhook to Stream Onchain Events for PYUSD

Next, copy and paste this code snippet into your new GraphQL webhook:

# Get all Approval() events emitted by the PYUSD contract
  {
    block(hash: "0xaaf4228db65eab92357c124ff8f8f1c5da72a04da660e147157cd4dfd8eb44d6") {
      logs(filter: {addresses: ["0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E"], topics: ["0x8c5be1e5ebec7d5bd14f71427d1e84f3dd0314c0f7b2291e5b200ac8c7c3b925"]}) {
        account {
          address
        }
        topics
        transaction{
          hash
          index
          to{
            address
          }
          from {
            address
          }
          status
        }
      }
    }
  }

Here's what the important parts of

  • Block hash - the reference number of a block in a blockchain
  • Addresses - the smart contract address for PYUSD's ERC-20 token
  • Topics - the topic describes the event that the webhook will track

3. Start Receiving Events at your Webhook URL

Once published, your webhook URL should start receiving all events emitted by the PYUSD contract.

Event Stream from the PYUSD Smart Contract

Each transaction that happens using PayPal’s stablecoin will now be accessible to you via JSON. While some may use this data to create a Twitter bot for large transactions, others may find other unique insights!

4. Stream to AWS

Want to ingest, store and retrieve real-time PYUSD blockchain data with a serverless API? Read our step-by-step guide to stream blockchain data to AWS in real-time.

What is PayPal’s Stablecoin PYUSD?

PayPal has announced its intentions to become a major bridge between the Ethereum, onchain ecosystem and the traditional fiat system via its new “PayPal USD” stablecoin.  PayPal USD is an ERC-20 token claimed to be redeemable 1-1 for US Dollars. The stablecoin is issued by Paxos Trust Company who hold assets in their reserves to back the PYUSD token. 

PYUSD is the only stablecoin that PayPal will support for the time being, making it desirable for PayPal’s customers who want to quickly move on and offchain. PayPal’s new “Checkout with Crypto” feature will also allow customers to spend PYUSD at checkout. 

What makes PayPal’s PYUSD interesting to track?

While all of Ethereum’s onchain activity is trackable with Custom Webhooks, the introduction of a digital payments giant into the ecosystem marks era. PayPal will support transferring PYUSD from the PayPal app to Ethereum wallets. This, and other transactions occurring with the stablecoin, may provide insightful onchain analysis.

On August 7th, 2023 PayPal announced their new stablecoin, PYUSD. Here’s how to use Custom Webhooks to stream onchain events in real time for the PYUSD smart contract.

How to Track Onchain PYUSD Activity

Tracking the onchain activity for PayPal’s PYUSD smart contract, 0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E, using custom Webhooks is a matter of creating a new GraphQL webhook, copying a simple code snippet, and entering in your webhook URL!

1. Log into Alchemy’s Custom Webhooks

Sign up or log into your Alchemy account and create a new custom webhook. 

Create a GraphQL Webhook from Alchemy's Dashboard

For more details, follow this step-by-step guide to set up a custom webhook.

2. Paste in the PYUSD code snippet

Create a new webhook using a blank template. Paste in your webhook URL (where you want the events to be streamed).

Creating a Custom Webhook to Stream Onchain Events for PYUSD

Next, copy and paste this code snippet into your new GraphQL webhook:

# Get all Approval() events emitted by the PYUSD contract
  {
    block(hash: "0xaaf4228db65eab92357c124ff8f8f1c5da72a04da660e147157cd4dfd8eb44d6") {
      logs(filter: {addresses: ["0xe17b8aDF8E46b15f3F9aB4Bb9E3b6e31Db09126E"], topics: ["0x8c5be1e5ebec7d5bd14f71427d1e84f3dd0314c0f7b2291e5b200ac8c7c3b925"]}) {
        account {
          address
        }
        topics
        transaction{
          hash
          index
          to{
            address
          }
          from {
            address
          }
          status
        }
      }
    }
  }

Here's what the important parts of

  • Block hash - the reference number of a block in a blockchain
  • Addresses - the smart contract address for PYUSD's ERC-20 token
  • Topics - the topic describes the event that the webhook will track

3. Start Receiving Events at your Webhook URL

Once published, your webhook URL should start receiving all events emitted by the PYUSD contract.

Event Stream from the PYUSD Smart Contract

Each transaction that happens using PayPal’s stablecoin will now be accessible to you via JSON. While some may use this data to create a Twitter bot for large transactions, others may find other unique insights!

4. Stream to AWS

Want to ingest, store and retrieve real-time PYUSD blockchain data with a serverless API? Read our step-by-step guide to stream blockchain data to AWS in real-time.

What is PayPal’s Stablecoin PYUSD?

PayPal has announced its intentions to become a major bridge between the Ethereum, onchain ecosystem and the traditional fiat system via its new “PayPal USD” stablecoin.  PayPal USD is an ERC-20 token claimed to be redeemable 1-1 for US Dollars. The stablecoin is issued by Paxos Trust Company who hold assets in their reserves to back the PYUSD token. 

PYUSD is the only stablecoin that PayPal will support for the time being, making it desirable for PayPal’s customers who want to quickly move on and offchain. PayPal’s new “Checkout with Crypto” feature will also allow customers to spend PYUSD at checkout. 

What makes PayPal’s PYUSD interesting to track?

While all of Ethereum’s onchain activity is trackable with Custom Webhooks, the introduction of a digital payments giant into the ecosystem marks era. PayPal will support transferring PYUSD from the PayPal app to Ethereum wallets. This, and other transactions occurring with the stablecoin, may provide insightful onchain analysis.

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