Aptos is building a Layer 1 blockchain designed with an emphasis on absolute safety, extensible scalability, and credible neutrality — values that we know firsthand and viscerally understand

Aptos Labs is a premier Web3 studio of engineers, researchers, strategists, designers, and dreamers building on Aptos, the Layer 1 blockchain built with safety and user experience in mind, enabling developers to build scalable, future-proof applications. We are committed to developing products and applications on the Aptos blockchain that redefine the Web3 user experience. Our team of accomplished technical experts is dedicated to creating better network tooling and seamless usability to bring the benefits of decentralization to the masses. Learn more at http://www.aptoslabs.com.

Aptos

aptos

Unseeded Koosha Safari, a senior on Aptos High&#x27;s boys tennis team, advanced to the semifinals in the Central Coast Section Singles Tournament at Seascape Sports Club on Tuesday.

Aptos tennis talent Koosha Safari advances to CCS singles semifinals | Local Roundup – Santa Cruz Sentinel

Discover BlockDAG&#x27;s $26M presale success and how it surpasses Litecoin and Aptos in the dynamic crypto market.

BDAG Hits CoinMarketCap, Outshines Litecoin & Aptos - NullTX

Amid rising Bitcoin prices and increasing capital inflows, the Layer 1 blockchain known as Aptos demonstrated significant advancements in key metrics for the first quarter of the year, according to Messari.

Aptos Blockchain Sees Significant Growth Amid Market Challenges

Uncover how BlockDAG is setting new standards in the cryptocurrency market, overshadowing Ethereum&#x27;s whale activity and Aptos&#x27;s slow growth, with innovative developments and a promising future.

BlockDAG Surpasses Ethereum and Aptos in Crypto Surge

Aptos Role in the Decentralized Infrastructure The founders of Aptos Labs, Mo Shaikh and Avery Ching, started the company with the goal of making networks easier to use and giving more people access to the benefits of decentralization. The company has gotten a lot of money from trustworthy investors, which shows that it is serious about making a blockchain setting that is easy to use and works well. In order to adapt and improve speed while also offering user protections, Aptos, a next-generation Layer 1 blockchain, makes use of ground-breaking technologies and the Move programming language. This new invention represents a significant step forward in the process of combining blockchain technology with artificial intelligence, with the ultimate goal of redefining the technological environment. Exploring the capabilities of BC8.ai on the Aptos network io.net, a company that specializes in decentralized GPU processing, has partnered with Aptos Labs to expand its operations on Aptos. This alliance aims to decentralize access to the essential components of artificial intelligence (AI) by lowering computing costs and storage requirements, making machine learning more accessible and affordable. As a consequence of this collaboration, io.net's artificial intelligence (AI) products and innovations will benefit from Aptos' safety, speed, and performance capabilities. Currently, the generative artificial intelligence system known as BC8.ai, which is a product of io.net, is operating on the Aptos network and is responsible for managing more than 500,000 transactions each and every day. It is clear from this that the network is able to satisfy the requirements for high-speed and high-volume artificial intelligence. Ahmad Shadid, the Chief Executive Officer of Io.net, has underlined the necessity for a blockchain partner such as Aptos to support the firm's rising scale of innovation. This is especially important as BC8.ai and other future inference products continue to develop. If io.net and Aptos Labs decide to collaborate in the future, they will focus on developing a collection of artificial intelligence models and inference products that are designed to make use of the Aptos network for the purpose of making payments. This will further facilitate the accessibility of technologies that use artificial intelligence. Mo Shaikh, the chief executive officer of Aptos Labs, provided an overview of the goal that both companies have for the future, which is to have artificial intelligence that is decentralized and accessible. For instance, a possible product could be a payment system driven by AI that instantly spots scams and starts safe operations on the Aptos network. This partnership could change the way payments are made and processed around the world by using io.net's skill in AI technology and Aptos Labs' network infrastructure. This new way of using AI in payments would not only make them safer and more efficient, but it would also make these technologies easier for both businesses and customers to get. Vision for Accessible AI The establishment of this partnership represents a significant step towards the incorporation of Web3 technology inside the realm of artificial intelligence. With the goal of making artificial intelligence more responsible, scalable, and accessible to engineers and developers all across the globe, the aim is to be achieved. It is strongly recommended that you go to the website io.net in order to get further information on the ongoing endeavors of io.net and its collaboration with Aptos Labs. The IO Network is a decentralized physical infrastructure network of geo-distributed GPUs, and io.net is responsible for managing GPU clusters that are deployed over the IO Network. When it comes to using cases that need high processing demand and low latency, such as artificial intelligence and machine learning operations, and cloud gaming, this network, which is known as the Internet of GPUs, is aimed to provide companies and engineers with a wider range of options and lower prices. Don't forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Aptos Role in the Decentralized Infrastructure Aptos Role in the Decentralized Infrastructure The founders of Aptos Labs, Mo Shaikh and Avery Ching, started the company with the goal of making networks easier to use and giving more people access to the benefits of decentralization. The company has gotten a lot of money from trustworthy investors, which shows that it is serious about making a blockchain setting that is easy to use and works well. In order to adapt and improve speed while also offering user protections, Aptos, a next-generation Layer 1 blockchain, makes use of ground-breaking technologies and the Move programming language. This new invention represents a significant step forward in the process of combining blockchain technology with artificial intelligence, with the ultimate goal of redefining the technological environment. Exploring the capabilities of BC8.ai on the Aptos network io.net, a company that specializes in decentralized GPU processing, has partnered with Aptos Labs to expand its operations on Aptos. This alliance aims to decentralize access to the essential components of artificial intelligence (AI) by lowering computing costs and storage requirements, making machine learning more accessible and affordable. As a consequence of this collaboration, io.net's artificial intelligence (AI) products and innovations will benefit from Aptos' safety, speed, and performance capabilities. Currently, the generative artificial intelligence system known as BC8.ai, which is a product of io.net, is operating on the Aptos network and is responsible for managing more than 500,000 transactions each and every day. It is clear from this that the network is able to satisfy the requirements for high-speed and high-volume artificial intelligence. Ahmad Shadid, the Chief Executive Officer of Io.net, has underlined the necessity for a blockchain partner such as Aptos to support the firm's rising scale of innovation. This is especially important as BC8.ai and other future inference products continue to develop. If io.net and Aptos Labs decide to collaborate in the future, they will focus on developing a collection of artificial intelligence models and inference products that are designed to make use of the Aptos network for the purpose of making payments. This will further facilitate the accessibility of technologies that use artificial intelligence. Mo Shaikh, the chief executive officer of Aptos Labs, provided an overview of the goal that both companies have for the future, which is to have artificial intelligence that is decentralized and accessible. For instance, a possible product could be a payment system driven by AI that instantly spots scams and starts safe operations on the Aptos network. This partnership could change the way payments are made and processed around the world by using io.net's skill in AI technology and Aptos Labs' network infrastructure. This new way of using AI in payments would not only make them safer and more efficient, but it would also make these technologies easier for both businesses and customers to get. Vision for Accessible AI Vision for Accessible AI The establishment of this partnership represents a significant step towards the incorporation of Web3 technology inside the realm of artificial intelligence. With the goal of making artificial intelligence more responsible, scalable, and accessible to engineers and developers all across the globe, the aim is to be achieved. It is strongly recommended that you go to the website io.net in order to get further information on the ongoing endeavors of io.net and its collaboration with Aptos Labs. The IO Network is a decentralized physical infrastructure network of geo-distributed GPUs, and io.net is responsible for managing GPU clusters that are deployed over the IO Network. When it comes to using cases that need high processing demand and low latency, such as artificial intelligence and machine learning operations, and cloud gaming, this network, which is known as the Internet of GPUs, is aimed to provide companies and engineers with a wider range of options and lower prices. Don't forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: business blogging program

Revolutionizing AI: io.net and Aptos Labs Forge a Path for Decentralized Innovation

বিপ্লবী AI: io.net এবং Aptos Labs বিকেন্দ্রীভূত উদ্ভাবনের জন্য একটি পথ তৈরি করে

Revolutionäre KI: io.net und Aptos Labs ebnen den Weg für dezentrale Innovation

Revolucionando la IA: io.net y Aptos Labs forjan un camino hacia la innovación descentralizada

Révolutionner l'IA : io.net et Aptos Labs ouvrent la voie à l'innovation décentralisée

AI में क्रांतिकारी बदलाव: io.net और Aptos Labs ने विकेंद्रीकृत नवाचार के लिए मार्ग प्रशस्त किया

AI の革命: io.net と Aptos Labs が分散型イノベーションへの道を切り開く

AI 혁명: io.net과 Aptos Labs가 분산형 혁신을 위한 길을 닦습니다.

Revolucionando a IA: io.net e Aptos Labs abrem um caminho para a inovação descentralizada

Революция в области искусственного интеллекта: io.net и Aptos Labs прокладывают путь к децентрализованным инновациям

Yapay Zekada Devrim Yaratıyor: io.net ve Aptos Labs Merkezi Olmayan İnovasyona Yönelik Bir Yol Açıyor

Cách mạng hóa AI: io.net và Aptos Labs tạo ra con đường đổi mới phi tập trung

人工智能革命：io.net 和 Aptos Labs 开辟去中心化创新之路

Note: a SWOT analysis is an evaluation of the fundamental, operational, technical, social, economic, and even to some degree administrative elements of a project. This is not a model to be used for trading purposes. (NFA, DYOR) Composed of four elements, Strengths, Weaknesses, Opportunities, and Threats, a SWOT analysis framework provides excellent insight for establishing a high-level understanding of the state of a project's well-being through the lens of a birds-eye view. It can help formulate decisions around which areas require more attention, set performance goals, and organize a foundational understanding of where a project is headed. Rarely (if ever) used in crypto, it is time to apply this timeless method of evaluation to the digital asset space. Today, , the alternative, new generation layer one born from the ashes of Meta's DIEM, will get a SWOT. Aptos (APT) 💪 Strengths (Internal) (Helpful) 1. Flywheel of Innovation Aptos is consolidating the best of all worlds by applying some of the most cutting-edge designs across every element of the project. From governance optimizations that allow delegating actors the right to post independent votes, transactional optimizations separating gas payers and transaction senders, allowing sponsored/subsidized activity, functional optimizations splitting consensus away from data dissemination, improving efficiency, alongside the MOVE language, MOVEVM, AptosBFTv4, Block STM, and an ever-expanding set of AIP (Aptos Improvement Proposals), the project is in a neverending cycle of self-improvement. Obviously, many projects can lay claim to their innovations, but the reasoning behind why this is highlighted for Aptos specifically has to do with how openly available all of the information is and how relatively easily it can be accessed. 2. Derived from Meta Aptos is the result of the research and development conducted by (formerly Facebook) during their attempt to launch the cryptocurrency projects Diem and Novi. After the regulatory heat against Meta became too difficult to deal with, the infrastructure was spun off into Aptos. Inheriting all of the knowledge, corporate support, and intellectual capital, Aptos was able to raise a cool USD 400 million in 2022 on the back of its reputation/merits. Having the notoriety and prestige of association with Meta gives Aptos potentially unlimited capacity for fundraising and networking. Moreover, given the extent of private deals that take place in crypto land, it is not impossible to rule out some kind of shadowy/indirect affiliation between Meta and Aptos. Meta 3. MOVE Programming Language Originally developed by Meta for its Diem crypto project, MOVE is a functional language based on , which has become one of the most promising up-and-coming languages in the Web3 space. Avidly explored by new-generation teams today, including SUI, there is an entire ecosystem of projects now contributing to the progression and growth of MOVE. By leveraging MOVE for its architecture Aptos is building an army of powerful, specialty engineers and distinguishing itself from nearly every other project. Moreover, if the primitives that MOVE provides truly result in a user/developer experience that penetrates the mass markets, Aptos would be the thought leader in the space whom everybody else would refer to. RUST 4. Intuitive Learning Modules Developer onboarding has by far been the most critical bottleneck facing Web3 as a whole. New virtual machines, data structure, and logic already present an intellectual hurdle for devs to conquer; the onslaught of new languages has only further muddied the waters and made it that much less appealing for new programmers. Perhaps due to their experience and understanding of the Web2 world, Aptos has provided not just excellent documentation of its information but has gone beyond with tutorials in a highly comprehensive, inviting format. By reducing the friction associated with the Web3 learning curve, Aptos becomes a desirable place for new Developers to arrive. 5. Decent Decentralization With over 125 validators currently active and a Nakamoto coefficient ranging from 15–17, Aptos deserves credit for achieving a notable level of decentralization, given how still young the project is. The decentralization is achieved through coordinated efforts between early-stage participants with locked tokens and a lot of delegating power and the Aptos foundation itself, diligently spreading their votes to maximally optimize for a more even distribution. This movement (no pun intended) is counterintuitive to the centralized-overlord image many degens paint about Aptos; even if the current levels of decentralization stay steady, Aptos would be more decentralized (at the validator level) than the vast majority of the projects on the first 10 pages of CoinMarketCap. 6. Staking Ratio Over >83% Of the roughly 1,070,000,000 APT tokens in existence, there are 892,118,332 APT tokens, or just over ~83.37%, currently staked. While the caveat here is that the locked tokens belonging to early-stage investors are also staked, that remains among the highest of any tier-one staking crypto project. At this level, the staking ratio becomes a leading correlational (delayed) indicator that can be used to gauge the macro state of the network at a given moment. Based on how this metric fluctuates over time, it becomes possible to evaluate the level of conviction of the current stakeholder set and even model how the supply will flow. The most exciting change to observe will be how the unlocks impact it. 😞 Weaknesses (Internal) (Harmful) 1. Vicious APT Unlocks Upcoming Starting in December of 2023, the rate of "genesis" tokens (those allocated to early participants) coming into circulating supply will increase, set to double the total supply in 2024 alone. With roughly 300 million tokens (~30%) already in circulation, the relative amount of new tokens making their way into the marketplace will potentially result in suppressed prices during upcoming rallies as earlier investors look to offload their positions. 2. Locked Supply Staking Aptos allows for the tokens that are locked away to be staked. The tokens earned are immediately liquid, creating a conflicting set of interests between user groups. The motivation behind such a decision is understandable: to entice early-stage participants with all the more economic incentives; however, allowing for this to take place creates a closed environment where only deep-pocketed, resourceful participants amplify their control over the network. Given how disproportionately large the amount of locked tokens being staked versus free-floating tokens is, the locked staking supply makes Aptos a "Rich get Richer System." 3. Low Stablecoin Interest Stablecoins are a direct expression of a network's retail/commercial adoption. Coming in sub $50 million (USDC dominating >75% of the stable supply) and the presence of just a single project currently working within the Stablecoin segment, that is Thala with the MOD (Move Dollar), Aptos is very behind on this front. 🧐 Opportunities (External) (Helpful) 1. Pipeline of Megalodon Partners Already locked in a deal with Microsoft that brings Aptos Move to the GitHub Co-Pilot and the Microsoft AI to the Aptos community. With its strong emphasis on gaming and NFTs, Aptos has been able to secure a multitude of partnerships with prominent organizations around the world, including NeoWiz, Marblex, Lotte Group, and others. Outside of gaming, areas such as ticketing with KYD Labs and collectible community Art with NBCUniversal have also caught some recognition. Moving forward, it seems that the pace of new partnerships and their significance will only continue to increase. 2. Chingari Application Integration Ranked third by gross income and boasting over 100 million downloads from the Google app store, Chingari is considered to be one of the underdogs on the Web2 social media scene. Integrating Aptos sometime in the second half of 2023, Chingari empowered users with the ability to mint and transact in Aptos native digital assets. This single application, with its limited utilities and limited audience awareness, resulted in a quadrupling of on-chain activity. 3. Synergies with Eastern APAC Region The eastern APAC (Asia Pacific) region is a massive, developing market that has just begun to enter the crypto economy. Countries such as China, Japan, Singapore, Indonesia, Vietnam, etc., are home to highly digitized societies with a historical inclination towards gambling as a vehicle to escape their economic circumstances. Aptos has been putting forth much more effort to win the hearts of the APAC communities while the US has been stuck in regulatory limbo. If the next crypto cycle is led by non-US countries, Aptos is positioned well to capture that influx. 4. DEFI Growth Sitting at around ~80 million USD in TVL across its DEFI platforms, Aptos has a tremendous runway for new capital. Both legacy DEFI projects as well as newly built ones, stand to benefit from extending services to the Aptos Network. The lower the starting point, the greater the impact of inflows; moving TVL from ~80m to ~380m is a 375% increase, and moving it from ~380m to ~680m is 79%. 5. Integrations with External OG Protocols Alternative networks (including Ethereum, Solana, Binance, and others) have already established superiority in the degree of applications built on them. Meanwhile, Aptos is still severely behind in terms of the number of protocols in its ecosystem; there are still no EVM projects on Aptos, but SushiSwap has already announced its intentions to become the first one. 😳 Threats (External) (Harmful) 1. Layer 1 Competition Layer 1's are easily the most contended sectors of the crypto economy. Their foundational nature to the establishment of a digital financial system has attracted competition from the world's brightest and best-funded teams around the world. Putting Ethereum aside, there has been an onslaught of new generation Layer 1's, from Solana to Near to SEI, SUI, and beyond, that provide superior technological capabilities over the preceding generation projects. Moving forward, the competition that Aptos faces will continue to become more sophisticated, forcing the project to stay at the bleeding edge (or become the focal point) in order to remain relevant. Takeaway: Aptos is a serious force to be reckoned with. Positioning itself as a very smooth, no-hype, no BS, technologically heavy project, Aptos is building a professional environment catering to a unique culture. Not wasting its resources trying to battle other communities, Aptos moves forward with big, peaceful, focused strides. Conclusion: There was a lot not mentioned in this coverage, including the suave, quixotic images and qualities of technical cofounders Mo Shaikh and Avery Ching. The deep ties to Venture Capital. The social strategy. The Supply policy. Perpetual Supply inflation is an element that is economically impossible to ignore, and Aptos has it. Usually, this would be deeply scrutinized; however, at a modest 7% tapering off to 1.5% by 2032 and a minuscule burning mechanism applied to all transaction fees, this seems to be a more balanced long-term approach. In the middle of experiencing its first full cycle in crypto, The nascency of Aptos holds much promise for future waves of projects that grow the ecosystem with retroactive airdrops, potentially resulting in recursive wealth effects that spill over into the token. Thank you so much for reading, I hope this serves you well on your journey. Live long and prosper 🥂 Also published here.

The Aptos (APT) SWOT Analysis

Everscale — A Fifth-Generation Blockchain The crypto industry has already been with us for a while, and innovations are inevitably moving to the corporate and government sectors. With the , blockchain technology is going far beyond DeFi and NFTs. increased demand for remittance payment systems and integrations with central banks and governments However, with all of the variety of multichain ecosystems, there is huge demand from the corporate world to have a decentralized, scalable (estimated amount of transactions in an average country including massive peaks of usage) in a trustless way with low latency and high security. solution capable of performing fifty or one hundred thousand transactions per second , . At the same time, the Aptos mainnet was launched recently, and we’d like to dive deeper into the technical details and consider the theoretical and practical performance of the network. Those are the capabilities of a fifth-generation blockchain which is what Everscale is Aptos Is Not a Blockchain in the Classic Sense To put it simply, Aptos is a product of an acceleration of a single (one-shard) blockchain. In fact, Aptos doesn’t have any blocks. Instead, there is a sequential processing of incoming messages that consistently changes the state on all nodes. That’s how finality on Aptos can be described. Broadly speaking, Aptos is a finality algorithm rather than a classic blockchain. How Does It Work? The finality is divided into separate stages. The network receives messages and sorts them. After that, all validators receive the sorted messages and change the state on all nodes. In that way, Aptos is more of a hybrid blockchain than a classic one. That’s because state changes are made not by the propagation of finalized blocks, but by paralleled deterministic finalization on local nodes. There are no blocks in a classical sense. First, incoming messages are sorted out, and all validators come to a consensus in what order it should be applied. Afterward, state changes are being applied, and a consensus with the final state is confirmed in the end. We can compare this with a CPU design. CPUs work in a pretty similar way — there are some commands that can be executed in parallel. CPUs try to predict the upcoming commands, and if a small piece of code doesn’t require the result of a previous code, all these commands can be done in parallel. In other words, compliers optimize software to achieve such parallel execution in CPUs’ computations, and there’s simply no need to put sticks in the wheels and create software that would affect the parallel execution of a CPU. But there is a fundamental difference in a blockchain. In a public chain, it is easy to build types of smart contracts that would affect many accounts and make parallel execution impossible. , as it’s all based on the assumption that nodes cannot alter their behavior during the finalization process and follow the correct algorithm at all finality stages. This design is highly vulnerable for a public chain In a real-time environment, . The architecture and security of any decentralized system are built around the negative assumption that any nodes can be malicious but not more than 50% in total and how we can prevent an attack. it’s impossible to predict the exact behavior of users This is fundamentally important, especially because Aptos’s deterministic predictable approach is the key element in its design. But If someone wanted to spam the network, they would send transactions that affect many accounts in it. Theoretically, using a deep technical analysis, Parallel execution of transactions is possible only from real applications. it’s possible to organize an attack and slow a chain or even halt it. Transactions per Second and the Network’s Speed Block-STM is the core concept of accelerating the blockchain — this approach calculates state changes by executing transactions in parallel with further resolving of write conflicts. Media sources and articles say this approach accelerates Aptos up to 160,000 transactions per second. However, according to , modeling and tests show the Aptos whitepaper only 8–16 times acceleration compared to sequential transaction processing, which is in reality 200–500 transactions per second (general transactions from real applications but not specialized small or artificial transactions) for any single chain as practice shows. Even if we consider the maximum values (500 x 16 = 8,000 transactions per second), (up to 15,000 tps on each workchain) that’s achieved by multithreaded computations. this is far from even one workchain performance on Everscale Scaling of a Blockchain Everscale can be scaled infinitely by adding more validators and workchains. That’s why our architecture allows us to scale on demand when it requires more computations. This design can also be considered a dynamic sharding. As for Aptos, it’s a single chain . The design simply doesn’t provide for sharding. It’s not clear how it will be implemented with the current architecture. with parallel execution if transactions allow doing so Meanwhile, Everscale is capable of both data and computational sharding and it’s already in production in a real-time environment. Decentralization Speaking of the Aptos chain, all signatures collected are weighted (similar to EOS delegated Proof-of-Stake). That means validators get rewards for staking the maximum amount of tokens. without max factor restrictions, which leads to reducing decentralization The most profitable way is to run a single validator with the maximum stake. This naturally leads to the centralization of the network. Everscale has max factor restrictions. It’s simply not possible to validate with a maximum stake; if a participant wants to earn more rewards for validation, then more validators/nodes are required. Concept of Development on the Aptos Blockchain Aptos has its own programming language Move — inspired by Rust: Move, which is a new smart contract language for the crypto developers community. However, the most popular smart contract language with the big developers’ community is Solidity. For us, it is a controversial decision. A lack of tools and the need to learn a new language is a huge barrier for developers who want to join the Aptos ecosystem. Development on Everscale Why do we need to create a new language and tools for formal verification when we already have a proven one? You can write Everscale smart contracts using the following languages: due to the framework developed by Everscale community members. C, C++, and Solidity, and get almost automated formal verification Summary Aptos can be considered a greatly accelerated single chain, and it is several times faster than a normal non-sharded blockchain. However, any single-chain design eventually has its limits. Regarding the acceleration of a single chain, Aptos developed a finality algorithm based on sequential and parallel processing, but the lead to the slowing of the network and an impasse in terms of substantial growth. A reasonable question arises: impossibility of scaling and the potential wide vector of attacks “Is it a fifth generation blockchain or another attempt to build a better Ethereum?” About the Everscale network Everscale is one of the most technologically advanced blockchain networks, incorporating all of the blockchain innovations and concepts of recent years. Its versatility gives it the potential to become a decentralized hub for lots of blockchains and resource-demanding applications such as GameFi, DeFi, supply chains, etc. Due to its dynamic multithreading and sharding technology, there’s always more room to add new nodes and shards to handle any load — and that’s something that no other blockchain can offer yet. Everscale has powerful developer tools, such as compilers for Solidity and C++, SDK and API, client libraries ported to more than 20 languages and platforms, and a range of decentralized browsers and wallets. More About the Everscale network: | | | | | | Website Twitter Whitepaper Github Telegram Ann Telegram Discord Photo by on Glenn Carstens-Peters Unsplash

Everscale and Aptos: A Comparison

The Gaming Revolution: READYgg and Aptos Labs Transforming the Digital Landscape In a groundbreaking move, has teamed up with to usher in a new era of gaming. This partnership is more than a mere collaboration; it represents a paradigm shift, bringing 15 million Web2 gamers into the burgeoning realm of Web3 gaming. This initiative, set in motion by READYgg’s extensive network and Aptos' cutting-edge blockchain technology, marks a seismic shift in the gaming industry. READYgg Aptos Labs READYgg: The Gateway to Web3 Gaming , a leader in blockchain and game development technology, has been at the forefront of the transition from traditional gaming to the Web3 domain. By signing over 20 major Web2 publishers, the company boasts a staggering 200 million monthly active users across a diverse library of 2,000 games. The integration of these titles into the Web3 ecosystem represents a monumental step towards merging the familiar with the revolutionary. READYgg Pioneering Titles Making the Leap Among the exciting titles transitioning to Web3 are the roguelike dungeon crawler "Runestone Keeper" and the action-packed "Rescue Robots Sniper Survival". Additionally, platforms like Minijuegos and ToroFun are not just making the shift but are also incorporating innovative NFT-based loyalty systems. This move underscores the commitment to enhancing the gaming experience with Web3 elements, offering players a unique and enriched playing environment. Aptos Labs: The Backbone of the New Gaming Experience Aptos Labs, co-founded by industry visionaries Mo Shaikh and Avery Ching, brings to the table its next-generation Layer 1 blockchain technology. Known for its breakthroughs in network tooling and usability, Aptos is poised to provide the necessary infrastructure for this ambitious endeavor. The partnership will leverage the Aptos blockchain's fast time-to-finality, a crucial feature for ensuring seamless gameplay in the Web3 space. A Network Built for the Future The Aptos Network, with its innovative programming language and technology, is designed to evolve continuously. This characteristic is vital in a landscape as dynamic and rapidly changing as blockchain gaming. The commitment of Aptos to enhance performance and user safeguards aligns perfectly with READYgg's vision of a seamless transition to Web3 gaming. The Synergy of READYgg and Aptos This collaboration between and is more than just a technical alliance. It is a union of visions, where both entities aim to democratize access to Web3 gaming. READYgg brings to the table its robust tools and ecosystem designed to facilitate the creation of Web3 games. In contrast, Aptos provides the technological backbone with its high-performance blockchain. READYgg Aptos Labs Funding the Future READYgg, through its $RDYX token, offers potential funding or grants to publishers entering the Web3 realm. This initiative, combined with Aptos' predictable usage fees, provides a stable and supportive environment for publishers transitioning to blockchain-based gaming. The Voices Behind the Vision David S. Bennahum, CEO & Co-Founder of READYgg, emphasizes the company's commitment to bridging Web2 games with Web3. His vision of seamlessly integrating traditional gamers into the blockchain world is now becoming a reality. Christina Macedo, COO & Co-Founder of READYgg, highlights the ease of transition for millions of Web2 gamers, ensuring that the focus remains on fun and engagement, free from the complexities often associated with blockchain technologies. Mo Shaikh, Co-Founder & CEO of Aptos Labs, underscores the partnership's potential to accelerate the delivery of high-quality Web3 games and user experiences, enriching the gaming landscape with unique and ownable assets. The Broader Impact: A Gateway to Emerging Markets READYgg's vision extends beyond just integrating existing gamers into Web3. It aims to open doors for billions, especially in emerging markets, to access and appreciate the new gaming world. The company's tools and ecosystem are designed to democratize Web3 game creation, paving the way for true mass adoption. A New Chapter in Gaming The READYgg and Aptos Labs partnership is more than a technological advancement; it is a cultural shift. By bringing 15 million Web2 gamers into the fold of Web3, they are not just changing how games are played; they are redefining the gaming experience itself. This initiative promises to bring unparalleled user experiences, on par or even superior to traditional Web2 gaming, setting a new standard for the industry. As the worlds of Web2 and Web3 converge, the future of gaming looks brighter and more exciting than ever. Don’t forget to like and share the story! : Vested Interest Disclosure This author is an independent contributor publishing via our . Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR brand-as-author program

Bridging Worlds: READYgg and Aptos Labs Unite to Revolutionize Web3 Gaming

ব্রিজিং ওয়ার্ল্ডস: READYgg এবং Aptos ল্যাবস Web3 গেমিংকে বিপ্লব করতে একত্রিত হয়েছে

Brückenschlag zwischen Welten: READYgg und Aptos Labs vereinen sich, um Web3-Gaming zu revolutionieren

Uniendo mundos: READYgg y Aptos Labs se unen para revolucionar los juegos Web3

Bridging Worlds : READYgg et Aptos Labs s'unissent pour révolutionner le jeu Web3

ब्रिजिंग वर्ल्ड्स: रेडीग और एप्टोस लैब्स वेब3 गेमिंग में क्रांति लाने के लिए एकजुट हुए

世界の橋渡し: READYgg と Aptos Labs が連携して Web3 ゲームに革命を起こす

세계 연결: READYgg와 Aptos Labs가 연합하여 Web3 게이밍에 혁명을 일으키다

Bridging Worlds: READYgg e Aptos Labs se unem para revolucionar os jogos Web3

Соединяя миры: READYgg и Aptos Labs объединяются, чтобы совершить революцию в играх Web3

Dünyalar Arasında Köprü Kuruyor: READYgg ve Aptos Labs Web3 Oyunlarında Devrim Yaratmak İçin Birleşiyor

Kết nối các thế giới: READYgg và Aptos Labs hợp tác để cách mạng hóa trò chơi Web3

连接世界：READYgg 和 Aptos Labs 联手革新 Web3 游戏

The Noonification: Aptos Fumbles and Why a Killer App Wins Versus L1 (10/21/2022)

Hi folks 🙋🏻‍♂️, What a messy week it has been for crypto. If last week’s theme was exploits, this week’s seems to be regulatory scrutiny. Reuters published an investigative piece on Binance, Visa & Mastercard drew government scrutiny over crypto-linked debit cards, and Sam Bankman-Fried is being investigated by the Texas securities regulator. I always tell people that when every piece of news sounds bad, it’s a sign that we’re nearing the bottom. Today we’re covering Aptos, the new L1 blockchain darling of Silicon Valley and VC firms. Aptos launched its mainnet and it has been a clown show thus far. Let’s get straight into it. Building a Layer 1 Is Hard Aptos is a new L1 blockchain with in total funding. It was created by former Meta employees, Mohammad Shaikh and Avery Ching, who previously worked on Meta’s failed stablecoin project. Aptos is valued at $4 billion pre-launch, even in the current macroeconomic environment. Honestly, props to them. Three months after its Series A, Aptos launched its mainnet, which went live on October 17, 2022. Thus far, it hasn’t been a good day on Crypto Twitter for the Aptos team. $350M+ In crypto, it’s almost always easier to fix the tech than to fix the community. Aptos needs to double down hard on its community management, communication, and transparency after the level of incompetency that it shows during the first week. https://twitter.com/smsunarto/status/1582116739231277057?s=61&t=MWrN017OyocxrZH9poGuLA?embedable=true So what’s going on with Aptos and why is building a new Layer 1 blockchain network extremely difficult? In this piece, we break down everything that has been happening with Aptos in the past 48 hours and explain why crypto development often has the wrong focus. Here are the quick takeaways: Ultimate transparency is the bedrock of crypto because of its community-first component — Aptos didn’t do a good job. Replicating the grassroots organic growth and network effect of Ethereum (and other successful L1) is difficult. Historically, there hasn’t been a lot of successful L1s when we consider the amount of time, effort, and capital associated with the protocols. Founders might have a better chance of finding product-market fit building application layer projects. Top protocols with PMF are considering transitioning into their own appchains. https://pensivepragmatism.substack.com/?embedable=true Outright Recklessness In the past 48 hours alone, there have been multiple unprofessional practices from the Aptos team. I think the last sentence is pretty charitable given Aptos’ caliber of a project. Here are some highlights and top tweets. Unclear Tokenomics. The very basic thing that any crypto project with a token needs to get right is being 100% transparent about its token. This includes token supply distribution, use cases, mechanisms, and much more. Aptos launched without official tokenomics documentation, although they eventually it after much criticism from Crypto Twitter, and after a leak from Upbit. posted https://twitter.com/lawmaster/status/1582247876821798912?s=61&t=TYR-U-VYVr4SlwkCEDIQpw?embedable=true Unclear Communication. Aptos did not make it clear that the Genesis of its chain occurred on October 12, five days before the “official” mainnet launch. This was eventually by its CEO but required many deliberations from the Crypto Twitter community to figure out prior to the official announcements. Large entities are already staking beforehand. clarified https://twitter.com/paulfidika/status/1582386284634390529?s=61&t=zxflklexXPjF5VEWgcmgTA?embedable=true Aptos enables vested tokens to be staked and for the subsequent staking token rewards to be liquid. With more than 80% of the current supply staked at a 7% yield, there are approximately 56 million APT tokens (80% * 1 billion total supply) released annually into the market — or roughly equivalent to $350M+ of annual sell pressure at $7 per APT. https://twitter.com/hsakatrades/status/1582293886092730370?s=61&t=KZFbOAaXrUPo2dIdRx0qvQ?embedable=true Confusing Terminologies. Aptos stated that 51% of its tokens are for the “community”. However, the word community here means a split between the Aptos Foundation and Aptos Labs, indicating that the only way coins will ever get into the hands of the “community” is if the Aptos Foundation or Labs allow it to happen. https://twitter.com/paulfidika/status/1582386287473876992?s=61&t=MWrN017OyocxrZH9poGuLA?embedable=true Airdrop Issues. Aptos conducted an airdrop without proper mechanics, enabling the opportunistic actor to launch a Sybil attack. Aptos also mandated some form of web 2.0 log-in or identification (Google, Discord, or GitHub) in order to be eligible for the airdrop. https://twitter.com/sassal0x/status/1582534270446231552?s=61&t=-ImNqdKDPv-GySU2wWuSgw?embedable=true https://twitter.com/wublockchain/status/1582541029135175680?s=61&t=TYR-U-VYVr4SlwkCEDIQpw?embedable=true Postponing Perpetuals. When a project has to ask a major centralized exchange not to list the perpetual contract of its token, it’s an indirect admission of an imbalance token supply design. Aptos knows that market participants will take advantage of the unclear tokenomics (at least it was unclear at the beginning), and the fact that staking rewards are liquid. https://www.binance.com/en/support/announcement/f9df5bba5e1c4f1e9289240d0f9344e2?embedable=true https://twitter.com/cryptanzee/status/1582348599450820613?s=61&t=f20KzxJ6ClMD5bOlsT0j5w?embedable=true Solana Is an Anomaly A lot of people seem to forget that betting on the new L1 has always been the biggest game in town. There are ludicrous financial incentives for founders and investors to fund L1 because of its TAM and the amount of capital they can rack up without ever needing to achieve success in any sort of meaningful and sustainable way. You can have years of runways, practically wait out the Fed interest rate cycle, and raise more capital as needed. However, there have not been many successful L1s. Solana’s success was unique and an anomaly. Many VCs unsurprisingly want to replicate Multicoin’s and SBF’s 10,000% return with Solana, but history has shown that investing in L1 is hard. Multicoin had its losses with EOS, and there were multiple other L1 projects of the 2017-2018 era that never really made a return (NEO, ICX, and ZIL; to name a few). Even if you have a massive war chest, there are external components that can make or break an L1. Oftentimes, the amount of work and impact that the team behind L1 can put into these external factors are limited. Nurturing an organic community, a cult-like following, and a niche sector within the space is not just about spending capital. EOS raised billions but failed to produce the same level of outcomes as Solana. Other well-capitalized L1s in the past few years are making strides, but have not achieved any traditional form of success in any meaningful way when you consider the amount of capital raised. L1 also needs to ride a wave or at least put a strong focus on and dominate one aspect of the crypto space. Solana rode the NFT wave. What wave is there right now? Additionally, unless you’re exceptionally well connected and have the appropriate background to launch a new L1, founders are better off finding product-market fit with application layer projects. Successful protocols with PMF, such as Axie and dYdX are considering transitioning into their own appchain to have improved performance and greater customizability. It seems like we’re moving more and more into a world where a successful dApp can just pivot to another L1 or become its own appchain, whereas a successful L1 needs to ensure the successful dApps stay on their chain — anyway, that’s for another post. The Wrong Focus Developing a new L1 from scratch is extremely difficult. You’re not only building a product, but also an ecosystem and a community in a decentralized open-source world without any Intellectual Property defensibility. Any work that you put out there can be replicated and duplicated by other entities. All of this while you need to focus on garnering developers’ interest, creating a thriving community, and attracting end-users to your ecosystem. Compare this to a dApp or an appchain, where the customer acquisition focus is much simpler: focus on the end-users. Although we will most definitely see a multi-chain future. The majority of crypto users have shown that they don’t care about idealistic differentiators. They simply want to use the best product or the one that can make them the most money. The rise of new L1s has shown that we’re missing the point on what actually matters. We need a much stronger focus on building tangible, usable apps for everyday crypto users — instead of competing for the same existing market over and over again. https://twitter.com/nosleepjon/status/1582218283293368320?s=61&t=TYR-U-VYVr4SlwkCEDIQpw?embedable=true Atoms and Bits In crypto, we often focus on bits but forget about atoms. The markets love bits-based companies when the macro environment is risk-on, and vice-versa when it’s risk-off. Despite the growth of blockchain technology in the past few years, the significant majority of crypto is still only focusing on bits. Sure there are projects such as Helium that have physical devices in their business model, but there aren’t many. I believe for crypto to reach $5 trillion in market cap during the next cycle, we need more focus on building atoms-based crypto businesses, ranging from a crypto-native point of sales system to mobile phones, and many more. The strongest tech company in the world is Apple. It’s both atoms and bits. With a flip of a switch, Apple decimated billions of dollars in value from Google and Meta advertising business. For crypto to truly thrive, the industry needs more companies that deal with atoms. Until next time, Marco M. If you enjoy this piece, please consider subscribing below to get it in your inbox early! https://pensivepragmatism.substack.com/?embedable=true Disclaimer, NFA, all that legal stuff: All the information presented on this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice. Also Published Here

Aptos Fumbles and Why a Killer App Wins Versus L1

Aptos Fumbles y por qué una aplicación Killer gana Versus L1

Aptos Fumbles et pourquoi une application tueuse gagne contre L1

Aptos Fumbles and Why a Killer App जीतता है बनाम L1

Aptos の失敗とキラーアプリが L1 に勝つ理由

Aptos Fumbles e por que um aplicativo matador vence contra L1

Aptos Fumbles và tại sao ứng dụng Killer lại thắng so với L1

Aptos 失败以及为什么杀手级应用程序与 L1 相比获胜

When starting a new project, it’s important to make the right choices about the blockchain and smart contract language. These choices can significantly impact the overall success of your project as well as your success as a developer. web3 In this article, we'll compare three popular smart contract programming languages: Solidity: used in Ethereum and other EVM-based platforms Cadence: used in the Flow blockchain Move: used in the Sui/Aptos blockchain We'll explain the concepts and characteristics of each language in simple terms, making it easier for beginners to understand. Let’s dive in. Solidity: The Foundation of Ethereum Smart Contracts is a high-level, object-oriented language used to build smart contracts in platforms like Ethereum. Initially, Solidity aimed to be user-friendly, attracting developers by resembling JavaScript and simplifying learning. While it still values user-friendliness, its focus has shifted to enhancing security. Currently, Solidity . Solidity has quite a few security pitfalls developers need to be aware of Some Solidity features include: Solidity uses clear, explicit code with a syntax similar to JavaScript, prioritizing ease of understanding for developers. Syntax and Simplicity: Solidity emphasizes secure coding practices and highlights risky constructs like gas usage. Security Focus: The language enforces data type declarations for variables and functions. Statically Typed: Solidity supports features like inheritance, libraries, and complex user-defined types. Inheritance and Libraries: Cadence: Empowering Digital Assets on Flow is designed by Flow, a blockchain known for helping to make web3 mainstream and working with major brands like Disney and the NBA. It ensures secure, clear, and approachable smart contract development. Cadence Some Cadence features include: The language enforces strict type-checking to prevent common errors. Type Safety: **Resource-oriented Programming:**Resources are unique types that can only move between accounts. They can’t be copied or discarded. If a function fails to store a Resource obtained from an account in the function scope during development, then semantic checks will show an error. The run-time enforces the same rules in terms of allowed operations. Contract functions that don’t handle Resources properly in scope before exiting will stop. These Resource features make them perfect for representing both fungible and non-fungible tokens. Ownership is tracked according to where they are stored, and the assets can’t be duplicated or lost since the language enforces correctness. If one person wants to access another person's stored items, the first person needs a permission called a . Using Capabilities allows you to let others access your stored items remotely. There are two types of Capabilities: public and private. If someone wants to allow everyone to access their items, they can share a public Capability. For example, an account can use a public Capability to accept tokens from anyone. On the other hand, someone can give private Capabilities to certain people, allowing them to access only certain features. For example, in a project with unique digital items, the project owner might grant an "administrator Capability" that lets those users create new items. Capability-based Security: Capability Functions have predefined conditions for safer execution. Built-in Pre- and Post-Conditions: Cadence's focus on resource-oriented programming makes it ideal for managing digital assets in areas such as onchain games. Optimized for Digital Assets: To grasp the importance of these new ideas, let's take a quick look at some history. In 2018, the Dapper Labs team began working on Cadence as a new programming language. They faced challenges with Solidity because of its limitations. The main frustration in building decentralized apps came from the way contracts were accessed using addresses, making it difficult to combine contracts. Freedom from msg.sender: Composability in Web3 Now, imagine contracts as Lego building blocks. Composability in web3 means one contract can be used as a foundation for others, adding their features together. For instance, if a contract records game results on a blockchain, another contract can be built to show the best players. Another one could go even further and use past game results to predict future game odds for betting. But here's the catch: Because of how Solidity works, contracts can only talk to one another if the first contract has permission to access the second one, even if users can access both. In Solidity, who can do what is controlled by protected functions in contracts. This means contracts know and check who is trying to access their protected areas. Cadence changes how access works. Instead of using the old way where contracts need permission, it uses Capabilities. When you have a Capability, you can use it to get to a protected item such as a function or resource. This means the contract no longer has to define who's allowed access. You can only get to the protected item if you have a Capability, which you can use with "borrow()." So, the old "msg.sender" way isn't needed anymore! The effects of composability are important. When contracts don't need to know beforehand who they're interacting with, users can easily interact with multiple contracts and their functions during a transaction if they have the right permissions (Capabilities). This also allows contracts to interact with one another directly without needing special permissions or preparations. The only condition is that the calling contract must have the required Capabilities. Move: Safeguarding Digital Assets on Sui/Aptos , used in the , addresses challenges posed by established languages like Solidity. It ensures scarcity and access control for digital assets. Move Sui/Aptos blockchain Move’s features include: : Move prevents the creation or use of assets more than once, ensuring robust blockchain applications. Preventing Double-spending : Developers have precise control over ownership and associated rights. Ownership and Rights Control : In Move, a smart contract is called a module, emphasizing modularity and organization. Module Structure : Move employs static analysis to reject invalid bytecode, enhancing security. Bytecode Verifier : Move includes a standard library for common transaction scripts. Standard Library Creating Smart Contracts Let's illustrate the differences by comparing a simple smart contract that increments a value in Cadence, Solidity, and Move. Solidity Example In Solidity, creating a contract that increments a value involves defining a contract, specifying the count variable, and creating functions to manipulate it. It uses explicit syntax for variable visibility and function declarations. // SPDC-License-Identifier: MIT pragma solidity ^0.8.17; contract Counter { uint public count; // function to get the current count function get() public view returns (uint) { return count; } // function to increment count by 1 function inc() public { count += 1; } // function to decrement count by 1 function dec() public { count -=1; } } Cadence Example Cadence's approach to incrementing a value is similar but emphasizes clarity. It utilizes a resource-oriented structure and straightforward syntax, making it easier for developers to create and manage digital assets. pub contract Counter { pub var count: Int // function to increment count by 1 pub fun increment() { self.count = self.count +1 } // function to decrement count by 1 pub fun decrement() { self.count = self.count – 1 } pub fun get(): Int { return self.count } init() { self.count = 0 } } Solidity versus Cadence Syntax Differences In Solidity, the visibility keyword comes before or after variable/function names, whereas Cadence consistently follows the visibility-type-name sequence. Scalability and Upgradability Flow's network boasts higher transaction throughput than Ethereum, making Cadence more scalable. Additionally, Flow's support for contract updates enhances development. Move Example Move introduces new concepts like modules, resources, and ownership control. A Move module creates an Incrementer resource, requiring the owner's signature for operations. module incrementer_addr::increment {

 

use aptos_framework::account;

use std::signer;

       struct Incrementer has key {

                  count: u64,

       }

 

       public entry fun increment(account: &signer) acquires Incrementer {

                  let signer_address = signer::address_of(account);

                  let c_ref = &mut borrow_global_mut<Incrementer>(signer_address).count;

                  *c_ref = *c_ref +1

       }

 

 public entry fun create_incrementer(account: &signer){

       let incrementer = Incrementer {

                  count: 0

       };

       move_to(account, incrementer);

 }

} Composite Types and Turing Completeness All three languages support composite types, allowing complex types from simpler ones. All are Turing complete, meaning they can handle any computation given enough resources. Resource-Oriented versus Object-Oriented While Solidity and Move require compilation, Cadence is interpreted. Cadence and Move employ a resource-oriented approach, securing digital ownership in one location. Conclusion: Choosing the Right Programming Language When selecting a programming language like Solidity, Cadence, or Move, consider the needs of your project. Solidity is commonly used, but it might not be very easy to work with. Developers need to be careful of the security pitfalls and understand best practices. Solidity: Mainly used for digital assets, Cadence is a newer language that focuses on security, is easy to understand, and provides developers with a superior experience. Cadence: Move is , a more complex language. Rust can be more difficult to learn and understand. Move is a new language, and it doesn't have many tools, resources, or a big community. Move: based on Rust Ultimately, your choice will impact your project's success, so make an informed decision and enjoy your ! journey as a web3 developer Also published . here

Comparing Smart Contract Languages: Solidity, Cadence, and Move

A Study on Parallel Execution: Everything You Need to Know

Un estudio sobre la ejecución en paralelo: todo lo que necesita saber

Une étude sur l'exécution parallèle : tout ce que vous devez savoir

समानांतर निष्पादन पर एक अध्ययन: वह सब कुछ जो आपको जानना आवश्यक है

並列実行に関する研究: 知っておくべきことすべて

Um estudo sobre execução paralela: tudo o que você precisa saber

Nghiên cứu về Thực thi song song: Mọi thứ bạn cần biết

并行执行研究：你需要知道的一切

When I first heard about Nervos Network's dedication to building a BTC Layer 2, I wasn't surprised. That's because the CKB public blockchain technology not only matches but also goes beyond BTC. It not only maintains BTC's native UTXO features but also allows for more complex programmable extensions. While surpassing BTC may seem challenging for CKB public chain, aiming to be a top-notch BTC Layer 2 seems like a smart choice. Why? Let's delve into my take on CKB. The current BTC Layer 2 market is constrained by the mainnet’s limited validation capabilities, resulting in diverse alternative solutions. The simplicity of BTC's scripting language, combined with its near-zero computation and validation power, has created significant opportunities for market innovation. As of now, aside from limited transaction validation and multisig functionalities within UTXO unlocking conditions, the BTC mainnet is incapable of directly handling more complex transaction logic involving data validation, state changes, etc. It relegates BTC to an asset settlement layer, relying on extending through a powerful public chain for local consensus and computational validation capabilities. This leads to a lack of uniform standards or 'orthodoxy' for BTC Layer 2 solutions, making it challenging to rank them. However, distinctions can be made based on the community's perception between narrow and broad interpretations: Narrowly defined, only solutions like the Lightning Network state channels and the one-time seal approach of RGB qualify as truly 'orthodox' BTC Layer 2s. They effectively utilize BTC's limited script validation capacity without relying on or minimally depending on external local consensus. In a more general sense, any extension chain that gains acceptance for its local consensus, along with a cross-chain bridge solution that ensures the safe migration of assets, can theoretically serve as a BTC Layer 2. This includes contemporary Ethereum EVM chains, Solana with its high-concurrency capabilities, and others. Clearly, the BTC Layer 2 market is divided: on one end are highly-specific solutions like the slowly evolving Lightning Network and RGB, facing substantial challenges; on the other end are broadly defined solutions, where any performance chain capable of securely interacting with the BTC mainnet qualifies as a BTC Layer 2. But is there a 'middle-of-the-road' option? Yes, and it lies in the Nervos Network, which adheres to the UTXO model at its core, enhancing its performance. Notable features include: The CKB Network aligns closely with BTC, sharing the same 'UTXO model and mining consensus mechanism,' unlike the account balance model of mainstream public blockchains like Ethereum. The UTXO model has distinct advantages in transaction privacy, flexible transaction structuring, and parallel processing capabilities to prevent double-spending, which may be one of Satoshi Nakamoto’s most brilliant inventions. This is why post-Ethereum projects like Sui and Aptos have also adopted similar UTXO models. Bitcoin's capacity and block speed may be constrained by its era, but the UTXO model is remarkably forward-thinking. CKB adopts this UTXO model, evolving it into the 'Cell model', which preserves the pure transactional nature of Bitcoin’s UTXO model while also supporting the data states found in account models like Ethereum’s. To simplify: In the Bitcoin UTXO model, the creation and destruction of coins resemble a continuous minting and melting process. The Cell model, however, omits the destruction aspect, focusing on verifying and persistently storing states. Each Cell includes Capacity and Data: Capacity measures the balance in bytes, similar to UTXO, while Data holds any kind of information, including the history of transaction states. Thus, the Cell model can accurately represent balances and manage asset transfers, and also handle a variety of complex smart contract states. In summary, the Cell model is a more persistent and flexible transaction model that greatly broadens the scope of the UTXO model. It is crucial for CKB’s ability to maintain the security of the BTC mainnet while offering a 'speed boost' to slower Bitcoin expansion initiatives like the Lightning Network and RGB. For instance, the recent rollout of RGB++ by CKB illustrates this. In the BTC ecosystem, developing a mature RGB solution involves challenges that are not so much about the one-time sealing process of the BTC mainnet, but rather the communication, coordination, and mutual state maintenance among off-chain client validation nodes, particularly in a decentralized setting. In simpler terms, RGB's theory might seem straightforward, but its practical implementation is hindered by foundational infrastructural limitations and various barriers.
Recognizing this, CKB integrates these off-chain client validation nodes into its on-chain public validation process. This approach significantly accelerates the intended UTXO client extension pathway that RGB aims to achieve. Complex P2P consensus among off-chain nodes is notoriously challenging, fraught with complexity and obstacles such as potential data synchronization delays or inconsistencies, and susceptibility to fraud and attacks. Transposing this process onto the blockchain can simplify these issues. With the increasing discussions around RGB++, let’s also look at CKB's Open Transaction data format, showcasing the chain's forward-thinking features. Open Transaction allows multiple participants to collaboratively build and aggregate different transactions over time. It supports partial construction, amendability, and incremental build-up and aggregation. For example, Alice initiates an Open Transaction to exchange a certain amount of Token A for Token B with Bob. The transaction, once started, remains in an editable state. Bob, upon agreeing to the transaction terms, can then add his Token B and finalize the conditions. It might initially seem abstract. Take cross-chain scenarios as an example: Alice and Bob could independently execute asset trades on various distinct chains, significantly boosting the CKB chain's cross-chain interaction capabilities. In the realm of complex DeFi transactions, where market-driven dynamic adjustments are often necessary, Open Transaction allows contract participants to adapt trading conditions fluidly during the contract's execution. This undoubtedly enhances the ability to manage transactional complexities. From my perspective, Open Transaction mirrors the UTXO transaction unlocking conditions, capable of amalgamating intricate unlocking conditions, multi-party signatures, and complex transactional environments. This represents an evolutionary and valuable innovation that builds on the foundational principles of the BTC main chain. Interestingly, Jan Xie, a core developer from the Ethereum team, chose to embrace the BTC UTXO model for his inaugural major project. Despite the broader application of Ethereum's smart contract model, Jan and his Nervos team decisively chose to expand and refine the BTC UTXO model. This choice reflects a deep respect for Satoshi Nakamoto’s simplistic UTXO transaction model and also subtly lays the groundwork for its transformation into a native BTC Layer 2. In conclusion, I am quite bullish about CKB’s potential as a BTC Layer 2. In the short term, it certainly has the potential to expedite the implementation of projects like the Lightning Network and RGB within UTXO-based chains, offering valuable insights for these 'orthodox' expansion solutions on the BTC mainnet. Looking long-term, the inherent features of CKB's chain and its innovative architectural compatibility may enable it to excel in the complex and standardless arena of BTC Layer 2s. Note: There’s much more to explore regarding the technical nuances and standout features of CKB, which I plan to analyze in greater depth later. It's fascinating to see how BTC Layer 2 not only provides a platform for new chains to rise but also opens up endless possibilities for rejuvenation within established chains. Author: Haotian, Independent Researcher This article is the translation of a Haotian’s tweet. When I first heard about Nervos Network's dedication to building a BTC Layer 2, I wasn't surprised. That's because the CKB public blockchain technology not only matches but also goes beyond BTC . It not only maintains BTC's native UTXO features but also allows for more complex programmable extensions. While surpassing BTC may seem challenging for CKB public chain, aiming to be a top-notch BTC Layer 2 seems like a smart choice. Why? Let's delve into my take on CKB. BTC The current BTC Layer 2 market is constrained by the mainnet’s limited validation capabilities, resulting in diverse alternative solutions. The simplicity of BTC's scripting language, combined with its near-zero computation and validation power, has created significant opportunities for market innovation. As of now, aside from limited transaction validation and multisig functionalities within UTXO unlocking conditions, the BTC mainnet is incapable of directly handling more complex transaction logic involving data validation, state changes, etc. It relegates BTC to an asset settlement layer, relying on extending through a powerful public chain for local consensus and computational validation capabilities. This leads to a lack of uniform standards or 'orthodoxy' for BTC Layer 2 solutions, making it challenging to rank them. However, distinctions can be made based on the community's perception between narrow and broad interpretations: However, distinctions can be made based on the community's perception between narrow and broad interpretations: Narrowly defined, only solutions like the Lightning Network state channels and the one-time seal approach of RGB qualify as truly 'orthodox' BTC Layer 2s. They effectively utilize BTC's limited script validation capacity without relying on or minimally depending on external local consensus. In a more general sense, any extension chain that gains acceptance for its local consensus, along with a cross-chain bridge solution that ensures the safe migration of assets, can theoretically serve as a BTC Layer 2. This includes contemporary Ethereum EVM chains, Solana with its high-concurrency capabilities, and others. Clearly, the BTC Layer 2 market is divided: on one end are highly-specific solutions like the slowly evolving Lightning Network and RGB, facing substantial challenges; on the other end are broadly defined solutions, where any performance chain capable of securely interacting with the BTC mainnet qualifies as a BTC Layer 2. Clearly, the BTC Layer 2 market is divided: But is there a 'middle-of-the-road' option? Yes, and it lies in the Nervos Network, which adheres to the UTXO model at its core, enhancing its performance. Notable features include: The CKB Network aligns closely with BTC, sharing the same 'UTXO model and mining consensus mechanism,' unlike the account balance model of mainstream public blockchains like Ethereum. The UTXO model has distinct advantages in transaction privacy, flexible transaction structuring, and parallel processing capabilities to prevent double-spending, which may be one of Satoshi Nakamoto’s most brilliant inventions. This is why post-Ethereum projects like Sui and Aptos have also adopted similar UTXO models. Bitcoin's capacity and block speed may be constrained by its era, but the UTXO model is remarkably forward-thinking. CKB adopts this UTXO model, evolving it into the 'Cell model', which preserves the pure transactional nature of Bitcoin’s UTXO model while also supporting the data states found in account models like Ethereum’s. To simplify : In the Bitcoin UTXO model, the creation and destruction of coins resemble a continuous minting and melting process. The Cell model, however, omits the destruction aspect, focusing on verifying and persistently storing states. Each Cell includes Capacity and Data: Capacity measures the balance in bytes, similar to UTXO, while Data holds any kind of information, including the history of transaction states. Thus, the Cell model can accurately represent balances and manage asset transfers, and also handle a variety of complex smart contract states. To simplify In summary, the Cell model is a more persistent and flexible transaction model that greatly broadens the scope of the UTXO model. It is crucial for CKB’s ability to maintain the security of the BTC mainnet while offering a 'speed boost' to slower Bitcoin expansion initiatives like the Lightning Network and RGB. For instance, the recent rollout of RGB++ by CKB illustrates this. In the BTC ecosystem, developing a mature RGB solution involves challenges that are not so much about the one-time sealing process of the BTC mainnet, but rather the communication, coordination, and mutual state maintenance among off-chain client validation nodes, particularly in a decentralized setting. In simpler terms, RGB's theory might seem straightforward, but its practical implementation is hindered by foundational infrastructural limitations and various barriers.
Recognizing this, CKB integrates these off-chain client validation nodes into its on-chain public validation process. This approach significantly accelerates the intended UTXO client extension pathway that RGB aims to achieve. Complex P2P consensus among off-chain nodes is notoriously challenging, fraught with complexity and obstacles such as potential data synchronization delays or inconsistencies, and susceptibility to fraud and attacks. Transposing this process onto the blockchain can simplify these issues. With the increasing discussions around RGB++, let’s also look at CKB's Open Transaction data format, showcasing the chain's forward-thinking features. Open Transaction allows multiple participants to collaboratively build and aggregate different transactions over time. It supports partial construction, amendability, and incremental build-up and aggregation. For example, Alice initiates an Open Transaction to exchange a certain amount of Token A for Token B with Bob. The transaction, once started, remains in an editable state. Bob, upon agreeing to the transaction terms, can then add his Token B and finalize the conditions. It might initially seem abstract. Take cross-chain scenarios as an example: Alice and Bob could independently execute asset trades on various distinct chains, significantly boosting the CKB chain's cross-chain interaction capabilities. In the realm of complex DeFi transactions, where market-driven dynamic adjustments are often necessary, Open Transaction allows contract participants to adapt trading conditions fluidly during the contract's execution. This undoubtedly enhances the ability to manage transactional complexities. From my perspective, Open Transaction mirrors the UTXO transaction unlocking conditions, capable of amalgamating intricate unlocking conditions, multi-party signatures, and complex transactional environments. This represents an evolutionary and valuable innovation that builds on the foundational principles of the BTC main chain. Interestingly, Jan Xie , a core developer from the Ethereum team, chose to embrace the BTC UTXO model for his inaugural major project. Despite the broader application of Ethereum's smart contract model, Jan and his Nervos team decisively chose to expand and refine the BTC UTXO model. This choice reflects a deep respect for Satoshi Nakamoto’s simplistic UTXO transaction model and also subtly lays the groundwork for its transformation into a native BTC Layer 2. Jan Xie Jan Xie In conclusion , I am quite bullish about CKB’s potential as a BTC Layer 2. In the short term, it certainly has the potential to expedite the implementation of projects like the Lightning Network and RGB within UTXO-based chains, offering valuable insights for these 'orthodox' expansion solutions on the BTC mainnet. Looking long-term, the inherent features of CKB's chain and its innovative architectural compatibility may enable it to excel in the complex and standardless arena of BTC Layer 2s. In conclusion Note: There’s much more to explore regarding the technical nuances and standout features of CKB, which I plan to analyze in greater depth later. It's fascinating to see how BTC Layer 2 not only provides a platform for new chains to rise but also opens up endless possibilities for rejuvenation within established chains. Author: Haotian, Independent Researcher Author: Haotian , Independent Researcher Author: Haotian Haotian This article is the translation of a Haotian’s tweet. This article is the translation of a Haotian’s tweet. This article is the translation of a Haotian’s tweet . tweet tweet

How CKB's Public Blockchain Tech Accelerates Bitcoin's Orthodox Layer 2  

কিভাবে CKB এর পাবলিক ব্লকচেইন টেক বিটকয়েনের অর্থোডক্স লেয়ার 2কে ত্বরান্বিত করে

Wie die öffentliche Blockchain-Technologie von CKB die orthodoxe Schicht 2 von Bitcoin beschleunigt

Cómo la tecnología blockchain pública de CKB acelera la capa 2 ortodoxa de Bitcoin

Comment la technologie de blockchain publique de CKB accélère la couche orthodoxe 2 de Bitcoin

सीकेबी की सार्वजनिक ब्लॉकचेन तकनीक बिटकॉइन की रूढ़िवादी परत 2 को कैसे गति देती है

CKBのパブリックブロックチェーン技術がビットコインのオーソドックスなレイヤー2を加速させる方法

CKB의 퍼블릭 블록체인 기술이 비트코인의 정통 레이어 2를 가속화하는 방법

Como a tecnologia Blockchain pública da CKB acelera a camada ortodoxa 2 do Bitcoin

Как публичная технология блокчейна CKB ускоряет ортодоксальный уровень Биткойна 2

CKB'nin Halka Açık Blockchain Teknolojisi Bitcoin'in Ortodoks Katman 2'sini Nasıl Hızlandırıyor?

Công nghệ Blockchain công cộng của CKB tăng tốc lớp 2 chính thống của Bitcoin như thế nào

CKB 的公共区块链技术如何加速比特币正统的第 2 层

**KYOTO, Japan, May 13th, 2024/Chainwire/--**The IVS KYOTO Executive Committee is delighted to announce it will host one of the largest and most celebrated annual crypto conferences in Japan in the coming weeks. The three-day IVS Crypto 2024 KYOTO event will be held at the Kyoto Pulse Plaza alongside this year’s Japan Blockchain Week Summit, from Thursday, July 4 to Saturday until July 6, 2024. The previous edition of IVS Kyoto stood out as the largest crypto event on Japan’s 2023 calendar, acclaimed for delivering a multifaceted and exhilarating experience that drew more than 10,500 attendees, 300 speakers and over 150 side events under the theme of “What’s your new adventures”. In the wake of last year’s success, the theme for IVS Crypto 2024 KYOTO is centered on the concept of “Cross the Boundaries”. Attendees, exhibitors and speakers alike, from both Japan and around the world, are asked to focus on the evolution and application of blockchain technology and explore the future of Web 3.0 through games, entertainment, AI, and more. The event will run simultaneously alongside the highly anticipated Japan Blockchain Week Summit, and this year’s program promises to be even more comprehensive than before, with a record-breaking number of blockchain and Web 3.0 pioneers present. Japan Blockchain Week 2024 will play host to events staged all over Japan, and is expected to attract more than 50,000 attendees in all. Transcending The Barrier Between Web 3.0 & Reality At Kyoto Pulse Plaza IVS Crypto 2024 KYOTO will span four entire floors at the Kyoto Pulse Plaza, with the 1st Floor given over to exhibits designed to promote the practical application of blockchain technology, with visitors able to explore how Web 3.0 is already being integrated into our daily lives. Visitors will be able to experience sessions dissecting themes such as “Blockchain Data & AI”, “SocialFi & Entertainment”, “Game-Specific Chains & Gaming Industry”, and “DeFi and Financial Efficiency”, among many others. Headline speakers gracing the stage on the first floor include Mo Shaikh (CEO and Co-Founder of Aptos Labs), Sebastien Borget (Co-founder of the  Sandbox), Joichi Ito (President of Chiba Institute of Technology), Mai Fujimoto (Co-founder of  INTMAX ), Genki Oda (Representative Director of JVCEA), Hidekazu Kondo (CEO of Japan  Open Chain), Waka Itagaki (Deputy Director of Ministry of Economy, Trade and Industry), Ken  Kanetomo (web3 Division Manager of Konami Digital Entertainment), and Hideto Kawasaki  (Director-General of web3PT of Liberal Democratic Party. The floor will be populated by the booths of dozens of cutting-edge blockchain companies, intersected by seven exclusive experience zones, with each one designed to introduce visitors to Web 3.0 from a totally different perspective. These include The Web3 Entertainment Zone, organized by SHAKE Entertainment and YGG Japan, which will showcase how the gaming industry is embracing Web 3.0. Another highlight will be the Crypto Village powered by MURA and run by Shinsekai Technologies, which is set to host a range of side events based on various themes held at different times of the day, providing a dynamic environment for meetups and communication. Inamori Hall on the 3rd Floor at Kyoto Pulse Plaza will be given over to a series of projects that bring together innovative ideas and projects in an effort to match creators and developers who aim to drive the future of Web 3.0. The projects include the eagerly-awaited AI & Web 3.0 Animation Contest, which will see young creators compete against one another to create short animations managed by blockchain, using AI and the Unreal Engine, plus tools supplied by Animechain.ai. WaveHack Global Demo Day is another highlight, with the winning hackathon teams set to win prizes totaling $500,000 and the opportunity to present their Web 3.0 projects at future events such as EDCON and WebX. Finally, the 2nd and 5th Floors are exclusive zones that will provide an opportunity for entrepreneurs and innovators to meet and share their vision with some of the most renowned venture capital investors in the crypto industry. Japan Blockchain Week 2024: A Spectacular Series Of Web 3.0 Events Japan Blockchain Week Summit is the new name for the annual Non Fungible Tokyo event that was first held back in 2018, and it is expanding to become one of the top crypto events on the planet, with more than 50,000 attendees due to show up at this year’s revamped edition. The event will run for two days within IVS Crypto 2024 KYOTO, co-hosted by JapanBlockchainWeek and N.Avenue, the operator of CoinDesk JAPAN. As the showcase event at IVS Crypto 2024 KYOTO, Japan Blockchain Week Summit will kick off this year’s Japan Blockchain Week 2024, which is set to run from July 4 to July 31 and will see multiple experiences popping up at locations all over the country. Some of the most eagerly anticipated events include "Web3 Future 2024”, which will take place on July 16, hosted by GInco Inc., and “DCENTRAL Tokyo 2024”, a three-day event that’s set to run from July 17 to July 19. Moreover, De University of Ethereum will host the "EDCON TOKYO 2024" event from July 26 to 30, with IVS Crypto/JBW Summit attendees receiving a ticket that includes a number of special perks. Last year’s IVS Crypto was a spectacular success, with more than 150 side events taking place at Kyoto’s famed Nijo Castle, Yasaka Shrine and Heian Shrine. This year’s edition is sure to be even more exciting, with over 300 events planned to take place across Japan, and the IVS KYOTO Executive Committee is delighted to reveal that it’s now looking for additional event organizers to expand what will surely be one of the most monumental shindigs in the history of Web 3.0. Those interested in participating can visit this link to find out more: https://www.notion.so/headlineasia/IVS2024-SIDE-EVENT-Guide-5903e36440cf474f8e13373d81d4211d. IVS Crypto 2024 is made possible by numerous partnerships and sponsorships with some of the biggest names in Japan’s Web 3.0 industry. Platinum partners Aptos and Animechain.ai, will be joined by a host of Gold partners, including Oasys, double jump.tokyo, Avalanche, Alibaba Cloud,  Japan Open Chain, SBI Holdings, LINE NEXT/DOSI/kaia, and Vyvo Smart Chain, as they work together to build the next generation of the (decentralized) internet. Companies and organizations interested in sponsoring can check details and make inquiries through a dedicated form on the official website. For other partners, please use our dedicated partner application form. Sponsorship inquiry form: https://www.ivs.events/about-sponsorship. Media partner, community partner, and VC partner guidebook: https://www.notion.so/headlineasia/English-Guidance-for-Partners-of-IVS2024-26c7790de96045ba9645f68672601561. For discounted tickets visit: https://www.ivs.events/crypto. Coupon code: MarketAcross About the IVS KYOTO Executive Committee Headline Japan, Inc. was established with Kyoto Prefecture and Kyoto City for the purpose of  further developing the startup ecosystem and promoting the local industry through IVS in Kyoto.  We will promote the fusion of startups with Kyoto's corporate, university, research, and cultural  resources, leading to the creation of new industries and the emergence of startups that can  compete on a global scale. Contact Fukaya, Kurita, Togawa & Yoshida ivs-pr@vectorinc.co.jp +81 3-5572-6063 This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. **KYOTO, Japan, May 13th, 2024/Chainwire/--**The IVS KYOTO Executive Committee is delighted to announce it will host one of the largest and most celebrated annual crypto conferences in Japan in the coming weeks. The three-day IVS Crypto 2024 KYOTO event will be held at the Kyoto Pulse Plaza alongside this year’s Japan Blockchain Week Summit, from Thursday, July 4 to Saturday until July 6, 2024. IVS Crypto 2024 KYOTO IVS Crypto 2024 KYOTO The previous edition of IVS Kyoto stood out as the largest crypto event on Japan’s 2023 calendar, acclaimed for delivering a multifaceted and exhilarating experience that drew more than 10,500 attendees, 300 speakers and over 150 side events under the theme of “What’s your new adventures”. In the wake of last year’s success, the theme for IVS Crypto 2024 KYOTO is centered on the concept of “Cross the Boundaries”. Attendees, exhibitors and speakers alike, from both Japan and around the world, are asked to focus on the evolution and application of blockchain technology and explore the future of Web 3.0 through games, entertainment, AI, and more. The event will run simultaneously alongside the highly anticipated Japan Blockchain Week Summit, and this year’s program promises to be even more comprehensive than before, with a record-breaking number of blockchain and Web 3.0 pioneers present. Japan Blockchain Week 2024 will play host to events staged all over Japan, and is expected to attract more than 50,000 attendees in all. Transcending The Barrier Between Web 3.0 & Reality At Kyoto Pulse Plaza IVS Crypto 2024 KYOTO will span four entire floors at the Kyoto Pulse Plaza, with the 1st Floor given over to exhibits designed to promote the practical application of blockchain technology, with visitors able to explore how Web 3.0 is already being integrated into our daily lives. Visitors will be able to experience sessions dissecting themes such as “Blockchain Data & AI”, “SocialFi & Entertainment”, “Game-Specific Chains & Gaming Industry”, and “DeFi and Financial Efficiency”, among many others. Headline speakers gracing the stage on the first floor include Mo Shaikh (CEO and Co-Founder of Aptos Labs), Sebastien Borget (Co-founder of the  Sandbox), Joichi Ito (President of Chiba Institute of Technology), Mai Fujimoto (Co-founder of  INTMAX ), Genki Oda (Representative Director of JVCEA), Hidekazu Kondo (CEO of Japan  Open Chain), Waka Itagaki (Deputy Director of Ministry of Economy, Trade and Industry), Ken  Kanetomo (web3 Division Manager of Konami Digital Entertainment), and Hideto Kawasaki  (Director-General of web3PT of Liberal Democratic Party. The floor will be populated by the booths of dozens of cutting-edge blockchain companies, intersected by seven exclusive experience zones, with each one designed to introduce visitors to Web 3.0 from a totally different perspective. These include The Web3 Entertainment Zone, organized by SHAKE Entertainment and YGG Japan, which will showcase how the gaming industry is embracing Web 3.0. Another highlight will be the Crypto Village powered by MURA and run by Shinsekai Technologies, which is set to host a range of side events based on various themes held at different times of the day, providing a dynamic environment for meetups and communication. Inamori Hall on the 3rd Floor at Kyoto Pulse Plaza will be given over to a series of projects that bring together innovative ideas and projects in an effort to match creators and developers who aim to drive the future of Web 3.0. The projects include the eagerly-awaited AI & Web 3.0 Animation Contest, which will see young creators compete against one another to create short animations managed by blockchain, using AI and the Unreal Engine, plus tools supplied by Animechain.ai. WaveHack Global Demo Day is another highlight, with the winning hackathon teams set to win prizes totaling $500,000 and the opportunity to present their Web 3.0 projects at future events such as EDCON and WebX. Finally, the 2nd and 5th Floors are exclusive zones that will provide an opportunity for entrepreneurs and innovators to meet and share their vision with some of the most renowned venture capital investors in the crypto industry. Japan Blockchain Week 2024: A Spectacular Series Of Web 3.0 Events Japan Blockchain Week Summit is the new name for the annual Non Fungible Tokyo event that was first held back in 2018, and it is expanding to become one of the top crypto events on the planet, with more than 50,000 attendees due to show up at this year’s revamped edition. The event will run for two days within IVS Crypto 2024 KYOTO, co-hosted by JapanBlockchainWeek and N.Avenue, the operator of CoinDesk JAPAN. As the showcase event at IVS Crypto 2024 KYOTO, Japan Blockchain Week Summit will kick off this year’s Japan Blockchain Week 2024, which is set to run from July 4 to July 31 and will see multiple experiences popping up at locations all over the country. Some of the most eagerly anticipated events include "Web3 Future 2024”, which will take place on July 16, hosted by GInco Inc., and “DCENTRAL Tokyo 2024”, a three-day event that’s set to run from July 17 to July 19. Moreover, De University of Ethereum will host the "EDCON TOKYO 2024" event from July 26 to 30, with IVS Crypto/JBW Summit attendees receiving a ticket that includes a number of special perks. Last year’s IVS Crypto was a spectacular success, with more than 150 side events taking place at Kyoto’s famed Nijo Castle, Yasaka Shrine and Heian Shrine. This year’s edition is sure to be even more exciting, with over 300 events planned to take place across Japan, and the IVS KYOTO Executive Committee is delighted to reveal that it’s now looking for additional event organizers to expand what will surely be one of the most monumental shindigs in the history of Web 3.0. Those interested in participating can visit this link to find out more: https://www.notion.so/headlineasia/IVS2024-SIDE-EVENT-Guide-5903e36440cf474f8e13373d81d4211d . https://www.notion.so/headlineasia/IVS2024-SIDE-EVENT-Guide-5903e36440cf474f8e13373d81d4211d https://www.notion.so/headlineasia/IVS2024-SIDE-EVENT-Guide-5903e36440cf474f8e13373d81d4211d IVS Crypto 2024 is made possible by numerous partnerships and sponsorships with some of the biggest names in Japan’s Web 3.0 industry. Platinum partners Aptos and Animechain.ai, will be joined by a host of Gold partners, including Oasys, double jump.tokyo, Avalanche, Alibaba Cloud,  Japan Open Chain, SBI Holdings, LINE NEXT/DOSI/kaia, and Vyvo Smart Chain, as they work together to build the next generation of the (decentralized) internet. Companies and organizations interested in sponsoring can check details and make inquiries through a dedicated form on the official website. For other partners, please use our dedicated partner application form. Sponsorship inquiry form: https://www.ivs.events/about-sponsorship . https://www.ivs.events/about-sponsorship https://www.ivs.events/about-sponsorship Media partner, community partner, and VC partner guidebook: https://www.notion.so/headlineasia/English-Guidance-for-Partners-of-IVS2024-26c7790de96045ba9645f68672601561 . https://www.notion.so/headlineasia/English-Guidance-for-Partners-of-IVS2024-26c7790de96045ba9645f68672601561 https://www.notion.so/headlineasia/English-Guidance-for-Partners-of-IVS2024-26c7790de96045ba9645f68672601561 For discounted tickets visit: https://www.ivs.events/crypto . https://www.ivs.events/crypto https://www.ivs.events/crypto Coupon code: MarketAcross About the IVS KYOTO Executive Committee Headline Japan, Inc. was established with Kyoto Prefecture and Kyoto City for the purpose of  further developing the startup ecosystem and promoting the local industry through IVS in Kyoto.  We will promote the fusion of startups with Kyoto's corporate, university, research, and cultural  resources, leading to the creation of new industries and the emergence of startups that can  compete on a global scale. Contact Fukaya, Kurita, Togawa & Yoshida ivs-pr@vectorinc.co.jp +81 3-5572-6063 This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here here

Announcing IVS Crypto 2024 KYOTO And Japan Blockchain Week Summit

IVS Crypto 2024 KYOTO এবং জাপান ব্লকচেইন উইক সামিট ঘোষণা করা হচ্ছে

Ankündigung von IVS Crypto 2024 KYOTO und Japan Blockchain Week Summit

Anuncio de IVS Crypto 2024 KYOTO y la Cumbre de la Semana Blockchain de Japón

Annonce du sommet IVS Crypto 2024 KYOTO et Japan Blockchain Week

IVS क्रिप्टो 2024 क्योटो और जापान ब्लॉकचेन सप्ताह शिखर सम्मेलन की घोषणा

IVS Crypto 2024 KYOTOとJapan Blockchain Week Summitのお知らせ

IVS Crypto 2024 KYOTO 및 Japan Blockchain Week Summit 발표

Anunciando IVS Crypto 2024 KYOTO e Japan Blockchain Week Summit

Анонсируем саммит IVS Crypto 2024 KYOTO и Japan Blockchain Week

IVS Crypto 2024 KYOTO ve Japonya Blockchain Haftası Zirvesi Duyurusu

Công bố Hội nghị thượng đỉnh Tuần lễ Blockchain của KYOTO và Nhật Bản IVS Crypto 2024

宣布 IVS Crypto 2024 KYOTO 和日本区块链周峰会

Hi everyone, here 🙌🏻 Daria Strategy I’m a Growth Marketer, Brand Strategist and Communications expert working with blockchain and crypto projects. I create additional value and build brand awareness of the Web3 companies among users, developers, and VC funds. Recently, the crypto market exploded with news about the airdrop of , the most hyped restaking platform. The conditions for receiving this drop caused an even greater explosion of emotions, discussions, and even hate. EigenLayer Ethereum The project offers a platform for those who want to restake rather than the classic staking process that attracts regulators' attention. The emergence of EigenLayer and LRT restaking protocols increased ETH's share of staking to 26% of the total supply. According to , EigenLayer is TVL's second-largest protocol on after , at $14.2 billion: DeFi Lama Ethereum Lido An airdrop from canonically illustrates community expectations and market conditions. In this article, I explain what happened and what problems this case highlights in the crypto market. I also took a comment from my colleague, a product marketer who is now introducing a similar product to the market. Let’s figure it out together! EigenLayer A short overview of the Eigen Layer Airdrop Over the last year, EigenLayer has become super popular because of the rethinking of Ethereum restaking and the big names of venture funds that have invested in this project (a16z crypto, Ethereal Ventures, Polychain Capital, Coinbase Ventures, etc.). The journalists of recommend calling the EIGEN token generation event a “stake drop,” not “an airdrop. “ EIGEN can only be staked with EigenLabs’ proof-of-concept/proof-of-value data availability service EigenDA, at least in the beginning, until other apps building with EigenLayer integrate the token into their own platforms. Blockworks According to tokenomics, 45% of the 1.67 billion coins will go to the community, and a third will go to the airdrop for staking participants. The main complaint is related to the terms of holding the coins—after the $EIGEN stamp, they cannot be moved, and the monthly split will be only 5%. The platform team decided not to allow users from the USA, Canada, India, China, and several other countries to distribute and also warned about blocking for using VPN services. There were no geoblocks for restaking Ethereum before, so this situation angered many users who held their ETH in EigenLayer. The negative reaction to the actions of the project team caused a surge in asset withdrawals from the restaking service. According to , more than 7,000 withdrawal requests were initiated. Dune Here is a funny but apt video based on a famous meme I found on Twitter. In general, it describes pretty well the situation around the airdrop and the reasons for the disappointment of the community. The link to the post with this . video is here What does this EigenLayer Airdrop show us? The EigenLayer case highlights several important points and issues that we could observe that have been in the market for a long time and which all participants try to ignore. 1️⃣ The successful airdrop in late 2022 ushered in the "fat retrodrops" era and raised farmer expectations. People imitate activities in the networks, hoping to wake up one morning and see Lambo from the window. from described this point very well: Aptos @RyanSAdams Bankless 2️⃣ Many projects started betting on the token and using it as a marketing and reputation tool. I talked to the founders, convinced that only a drop would help them draw attention to the project. This is naive and short-sighted. Paying users for using the product is unnatural because instead of healthy competition and customer loyalty, it creates greed and a "gold rush.” 3️⃣ The market does not have sufficient users. Projects encourage activity by hinting at rewards for those who will boost the activity. However, it is obvious that projects can but are not obliged to pay rewards to users for their activity on the network. This sends only one message to the average crypto user: ** Your active participation, in the end, can mean very little. 4️⃣ In the world beyond Web3, businesses compete with each other through better technology, more attractive design, clear communication, and other factors that affect market position. Traditional businesses offer cashback and discounts at the product's launch, but no one pays tens of thousands of people $1000+ for using shampoo or buying a car. 5️⃣ Blockchain projects desperately need users interested in technologies, not drops! This need highlights the significant issues with UX and product value communication. It must be a user-oriented approach with a consistent product and marketing vision. Some Web3 founders started to take this point, but not the majority. The desire to make more complex technological products to show them off in front of fellow technicians takes precedence over a rational approach and customer orientation. What’s the future of restaking in the context of the EigenLayer case? I asked , the Product Marketer at about the case of EigenLayer’s airdrop. Nektar is a multilayered restaking network implementing a comprehensive incentives system for its participants, so Denis is well-versed with the current state of the restaking market and able to share his vision on this issue. Denis Igin , Nektar - What will be further after such a disappointment of the community? Will we see the withdrawal of funds from the restaking platforms? Denis: It’s hard to say about EigenLayer, but restaking as a concept and approach changes everything. For example, it enables the composability of solutions sourcing trust from the same set of validators, leading to technological advances such as native interoperability, etc. After mercenary capital outflow, next comes proving economics that everyone expects from the original design: additional rewards for restakers. Demand from AVSs might not be high at first, as with everything novel, but eventually, repurposing Ethereum security will have a disruptive and long-lasting impact comparable to decoupling execution by rollups. - Is the drop a panacea for product promotion? Denis: When used wisely, airdrops are a great way to gather relevant community information about the project. Gamification works too, e.g. Nektar recently . launched a points system - What conclusions did you draw following the case of the EigenLayer airdrop? Denis: The main lesson is that larger projects may fail in many ways, and this is likely due to the experimental nature of the restaking technology. As a community, we should not repeat the mistake of creating an outsized stakeholder leader. There’s room for more restaking players, and Nektar looks like a viable alternative to EL due to its integrated DVT, providing better resiliency and decentralization. Conclusion Many people support this situation with airdrops because it brings (actually, not always) high income in a short-term perspective. Another issue is that high-tech projects are not ready to be more open to a broader audience; they only create technologies for developers, limiting the market's growth. I can't imagine the industry's organic growth if the blockchain/crypto projects start fighting over who will give away more crypto in fear that their activity on the network or the number of followers will fall due to inflated expectations. I urge all members of the Web3 industry pay more attention to the value of the project and build a long-term relationships between the product and the users. The hype passes quickly, and what remains in return, loyalty or disappointment, depends on the ability of the founders to play the long game. Read my previous articles about and making blockchain as popular as AI launching a Web3 Project in 2024. Follow me on social media: , , and LinkedIn X . YouTube

EigenLayer Airdrop Has Highlighted the Problems in the Crypto Market

EigenLayer Airdrop ক্রিপ্টো মার্কেটের সমস্যাগুলো তুলে ধরেছে

EigenLayer Airdrop hat die Probleme auf dem Kryptomarkt hervorgehoben

EigenLayer Airdrop ha resaltado los problemas en el mercado criptográfico

EigenLayer Airdrop a mis en évidence les problèmes du marché de la cryptographie

EigenLayer एयरड्रॉप ने क्रिप्टो मार्केट की समस्याओं को उजागर किया है

EigenLayer エアドロップは暗号通貨市場の問題を浮き彫りにした

EigenLayer Airdrop은 암호화폐 시장의 문제를 강조했습니다

EigenLayer Airdrop destacou os problemas no mercado criptográfico

EigenLayer Airdrop выявил проблемы на рынке криптовалют

EigenLayer Airdrop, Kripto Piyasasındaki Sorunları Vurguladı

EigenLayer Airdrop đã nêu bật các vấn đề trong thị trường tiền điện tử

EigenLayer 空投凸显了加密货币市场的问题

The Web3 economy is driven by use cases, innovations, hype, and trends. User activity is the foundation that shifts weight in favour of either of the four. Thus, it is a key metric to evaluate the growth potential of a project or a sector as a whole. Trends dictate price movements in the crypto market (especially the bull market). We all are witness to the unprecedented hike in the prices of metaverse and NFT projects during the previous bull run. Leading gaming projects like Sandbox ($SAND) and Axie Infinity ($AXS) provided investors with over 16,000% returns during the 2021 peak. The takeaway? Staying ahead of trends is one of the best ways to make it big in the bull market. I am unearthing the top 4 trends that can do a repeat of the P2E or metaverse boom in 2024. Trend 1: Re-Staking Science is yet to develop a technology that makes a human omnipresent (unless you are a mystic disguised as a degen 😛). However, re-staking enables your funds to be omnipresent. Introduced by EigenLayer, restaking allows Ethereum HODLers to boost their earnings by using their staked ETH to secure protocols other than ETH. ETH HODLers have been staking $ETH since the emergence of the project. Ethereum has a staking market cap of more than $223B. However, once staked, over 16M ETH tokens sit idly, safeguarding the network. Further, EigenLayer allows users to earn points by staking Puffer ETH (Puffer Finance), rswETH (Swell Network), and ezETH (Renzo Protocol) Restaking creates a win-win opportunity for both HODLers and protocols, unlocking additional wealth-generation opportunities. This essentially means $ETH worth billions entering active circulation. With more new projects following the path of EigenLayer, restaking could very well be one of the top trends to dominate the 2024 bull run. Trend 2: Layer 3 The blockchain trilemma has been a massive challenge since the inception of the blockchain industry. The emergence of Layer 2 chains like Arbitrum, Polygon, and Avalanche was aimed at boosting scalability. Clearly, there were many takers of Layer 2 as they improved scalability and enhanced overall efficiency. The increased adoption of Layer 2 projects was reflected in the price rally of tokens line $MATIC (Polygon) during the previous bull run. Layer 3 solutions intend to take scalability to the next level by introducing customization and interoperability to facilitate the deployment of dApps. As blockchain nears mainstream adoption, the architecture has to be made flexible to get future-ready. That’s where L2 solutions come into the picture. Emerging DEXs like Syndr are developing their own L3 chains to facilitate institution-grade derivatives trading with Web2-like user experience, with the end goal being accelerated adoption. It is only a matter of time before L3 chains witness an L2-like rise in adoption and hype. Trend 3: AI 2022 saw a mini rally led by AI projects and the trend continued in the first half of 2023 as well. Aptos, one of the top AI projects in the crypto space, rallied nearly 300% last year. This is when the crypto market cap was barely hovering at around $1 Trillion. With 2024 expected to be one of the biggest bull runs (no speculations, only sentiment analysis), AI projects could lead the parabolic rise this year. Trend 4: DePin DePin (short form for Decentralized physical infrastructure network) is an innovative concept born to incentivize participation or contribution of resources to power a blockchain network. De-Pin lets innovators bootstrap projects and offer services by encouraging contributors to run peer-to-peer (P2P) hardware infrastructure networks. Just like SocialFi rewards users for sharing their data, DePin rewards users for sharing unutilized hardware to support a network. Some of the top DePin projects are Render Network, Filecoin, and Theta Network. These are just trends derived using the current sentiment on crypto-dominated social media channels, hype, TVL, user adoption, and market scenario. Note: This list does not include any financial advice and is meant to educate the audience about the current market scenario.

Restaking, Layer3, and AI: Top 4 Trends Set To Takeover DeFi In 2024

Massive is a decentralized ZK verification network service focused on achieving mass adoption for Web3. It aims to alleviate or even solve some of the key issues currently facing the industry. Here’s a breakdown: Mass Adoption: Massive could attract more users The sector is actively exploring ways to attract more traditional users and resources. Massive takes a novel approach by starting with mobile phones, a device most users are familiar with. By employing a “Verify to Earn” incentive mechanism and simplifying operations, Massive aims to draw more participants. This strategy helps newcomers gradually understand and join the Web3 industry, continuously injecting fresh blood into the sector. Web3 Highly Effective and Cheap: Massive could work as a settlement layer of blockchain Currently, all Rollup solutions based on ZK technology face delays in state confirmation on Layer1 (L1) due to cost and security concerns. This is typically addressed through proof aggregation technology and verification delays. introduces a solution that ensures Layer2 (L2)states can be decentralized and verified immediately after proof generation, significantly reducing the time for state transition confirmation. The verified state is then synchronized to L1, ensuring a swift and secure process. Massive Capital Efficiency: Massive could improve profits Nodes in the POS (Proof of Stake) network can join through staking and re-staking. If approach is reused, the POS consensus network can achieve Ethereum-level security. Massive supports staking and re-staking of various token types and offers flexible staking schemes tailored to different ecosystem types. Eigenlayer’s Modular Design: Massive could complete the modularity The emergence of Massive further advances the modular design of blockchain. It can be specifically divided into ZKRollup (off-chain computation), DA (Data Availability — off-chain transaction storage), ZKVaaS (Zero-Knowledge Verification as a Service — off-chain verification), and L1 (state updates and consensus). Keywords: Zero Knowledge, Mobile devices, Staking, Re-staking, Modularity, POS Introduction In essence, the blockchain industry is currently plagued by a crucial question: "How do we attract more traditional users to this sector?" Even though we witnessed a historical moment in January when a BTC spot ETF was approved, allowing some traditional investors to trade BTC in a compliant manner, the influx of new users and resources still falls far short of the industry's urgent need for fresh participants. Simply opening up investment opportunities can only bring in some investors; achieving mass adoption requires different strategies. Some believe gaming could be the key to reaching this goal, others see potential in social media, and still, others think AI could pave the way. Regardless of the method, it's clear that industry insiders are all striving for mass adoption of blockchain. A recent event that caught my attention was Starkware's STRK token airdrop, which highlighted a significant fact: some developers outside of the usual crypto circles began to explore and show interest in entering the industry. This interest was sparked because Starkware conducted an airdrop to contributors of certain GitHub repositories, developers who might not have known about blockchain previously but became interested due to this event. Another application that left a strong impression on me is StepN, an app that became popular in the last bull market for its "earn while you run" concept. Users simply needed to purchase a pair of virtual shoes and then could earn rewards by running a very straightforward proposition daily. This led to a surge in user numbers and effectively broke into new user demographics. These examples underscore applications or infrastructure projects capable of attracting new users to the industry. To draw new users, the following characteristics are necessary: Simple operation, easy for users to get started; Low hardware requirements; An incentive mechanism. Both examples satisfy the first criteria: GitHub is familiar to developers, and mobile phones are familiar to general users. They also meet the second criteria, requiring either a computer or a mobile phone. The third criteria is met as well, with one offering "contribute to earn" and the other "running to earn." However, to continuously attract new users, sustainable incentives are essential. For Starkware, continuous token airdrops may not be viable; likewise, for StepN, perpetual mining and selling are also unsustainable. Thus, for an application to sustainably attract new users and hold long-term value, it must inherently sustain its appeal. Massive serves as an infrastructure service aimed at sustainably attracting new users to achieve the goal of mass adoption. It can support all ZK chain services, whether ZK layer1, ZK layer2, or ZK layer3, introducing new users to these ZK chains, enhancing system security, reducing operational costs, and improving capital efficiency. Architecture Massive is a POS (Proof of Stake) consensus network that primarily utilizes mobile devices as its nodes. Users are required to download the official app on their mobile devices, which supports both iOS and Android, the two leading operating systems. The architectural framework is outlined as follows (Fig.1): To become a node, users can fall into one of the following two categories: New users without any cryptocurrency assets can initially join the network. Their accumulated rewards must reach a certain amount before they can start unlocking subsequent mining rewards. Users already possessing some cryptocurrency assets can stake these assets to become a node on the Massive network. Depending on the underlying L1 blockchain, users can stake different assets. For example, in a Massive network serving BTC L2/L3, users can stake BRC20 and BTC assets. For Ethereum-based L2/L3 services, users can stake ERC20 and ETH assets. The wallet will integrate several mainstream ZK technology stacks for verification, such as plonky2, plonky3, and boojum, all of which belong to the STARK family. Following market trends, support for mainstream algorithms from the SNARK family, such as Halo2 or Nova, will be iteratively introduced. Mobile nodes that have completed staking will form a POS network to provide Timely Settlement for all Layer 2s and Layer 3s. If there is an excessive number of participating users, sharding technology can be utilized to form multiple independent POS networks according to specific standards. Provide Timely Settlement As mentioned earlier, Massive is not solely focused on attracting users; it also aims to address some of the current issues in the industry. Among these, the confirmation time for ZK L2s/L3s is a frequently discussed issue. Before we delve into this, let's take a look at the main solutions for ZK L2s as illustrated in the following diagram (Fig.2): It's evident that in the design of most L2 solutions, there's a need to aggregate a sufficient number of proofs on L2 and then send them to Ethereum for verification. This approach is adopted to reduce costs. Even with this premise, the aggregated proofs sent to L1 must wait for a certain period before calling the Verify contract to alter the global state, a measure taken from a security standpoint, although this delay can be configured. Therefore, it can be concluded that a L2 transaction, to be finally confirmed, requires a waiting period of between 2 to 23 hours. Until then, the validity of the proofs is verified only by a centralized sequencer. The diagram below (Fig.3) illustrates the current situation where, after their generation, proofs will be verified. Therefore, the primary intention behind Massive's design is to ensure that, before a proof is verified on L1, it goes through a verification process by a decentralized network, so everyone can verify now. It's important to note that if the POS network used for verifying the proof is provided by Eigenlayer's AVS ( ) service, then this POS network possesses the same level of security as Ethereum. Ultimately, only the latest global state needs to be updated on Ethereum. This aspect also offers insights into the modular design evolution discussed in later chapters. Actively Validated Services After incorporating Massive, the entire process flow for L2s could be transformed as shown in the following diagram (Fig.4): By extracting the ZK verify function from L1 and placing trust in the security of the Massive network, then adding a challenge mechanism to reduce the probability of Massive acting maliciously, the entire system's security will depend on the security of the Massive network. If the ecosystem of these ZK L2s is more finance-oriented, Massive could be built on EigenLayer's AVS to ensure the cost of acting maliciously is sufficiently high. Conversely, if the ecosystem of these ZK L2s is related to gaming or social scenarios, then a basic Massive construction would suffice. Capital Efficiency Staking and re-staking have recently become very popular concepts, focusing on capital efficiency. Reutilizing staked assets to achieve compound interest is an attractive economic mechanism currently seen in platforms like Blast and Manta. Unlike these schemes, Massive offers a novel destination for native assets across various networks, as well as for staked assets, by allowing them to become nodes within the Massive network through staking and re-staking mechanisms. Since the Massive network can provide more users, lower costs, and improved security for ZK L2s/L3s, nodes within the Massive network will share in the network maintenance profits, embodying the "verify to earn" concept. Based on the actual circumstances of ZK L2s/L3s, different security levels of ZKVaaS can be chosen. The security level depends on the total amount staked and the number of nodes in the network. New Modular Design As mentioned earlier, Massive, from a certain perspective, further changes the process of blockchain modular design. Before Massive, modular design mainly consisted of execution modularization, with various Rollups solutions, and Data Availability (DA) modularization, with various DA solutions, leaving only verification, storage, and consensus functions on L1. After the introduction of Massive, modular design will evolve to include execution modularization, DA modularization, and verification modularization, with only storage and consensus remaining on L1. This is logical since verification itself is part of computation. Given that execution modularization has already moved computation off-chain, then only storage and consensus should remain on-chain. The specifics are illustrated in the following diagram (Fig.6): If verification remains on Layer 1 (L1), the specific consensus process involves each node executing, verifying proofs, and updating the state. However, if we extract the verification process and assign it to a separate network for consensus, the L1 consensus process would then only involve updates to storage. Under the latest modular design, existing L1 nodes will no longer undertake any computational tasks. They will only handle transactions related to the update of the global state and then execute the consensus process. There are two main reasons for this approach: As mentioned in previous sections, considering costs and security, the execution of verification can be significantly delayed. Therefore, extracting it and utilizing the Massive network for verification not only achieves rapid validation but also reduces the hardware requirements for verification nodes, making it easier for users to connect. The security of the separate Massive network is ensured by the amount of staked assets and the number of nodes. Compared to the original scheme, this might sacrifice a certain level of security (which depends on the value of the staked assets) but, in return, offers significant architectural advantages. The Ecosystem of Massive Leveraging the three core features of mobile phone mining, staking/re-staking, and Timely Settlement, Massive has the potential to become the largest network, providing safe, efficient, and low-cost services for a variety of ZK L2s/L3s. Additionally, due to its extremely low barrier to entry and profit effects, it will inject a significant number of real users into the industry. Massive's vision is to facilitate massive adoption within the industry. Mobile mining represents a highly exploratory practice. Through straightforward operations, lower thresholds, and continuous earnings, it aims to utilize the computational power of smartphones. According to statistics, the global sales of smartphones exceeded 1 billion units in 2023. Solana and Aptos have also successively launched their own Web3 phones. Through the Massive network, these devices will be leveraged. Reference Eigenlayer whitepaper: https://docs.eigenlayer.xyz/assets/files/EigenLayer_WhitePaper-88c47923ca0319870c611decd6e562ad.pdf Scroll explorer: https://scrollscan.com/batch/86321 Polygon explorer: https://zkevm.polygonscan.com/batches Zksync contract: https://etherscan.io/address/0xa0425d71cB1D6fb80E65a5361a04096E0672De03#readContract Starkware explorer: https://voyager.online/block/572773 Halo2: https://github.com/zcash/halo2 Nova: https://eprint.iacr.org/2021/370 Celestia: https://docs.celestia.org/learn/how-celestia-works/overview

Unveiling the Technical Vision Behind Massive: Decentralized, Cheap, Fair, and More

বিশালের পিছনে প্রযুক্তিগত দৃষ্টিভঙ্গি উন্মোচন করা: বিকেন্দ্রীভূত, সস্তা, ন্যায্য এবং আরও অনেক কিছু

Enthüllung der technischen Vision hinter Massive: Dezentralisiert, günstig, fair und mehr

Revelando la visión técnica detrás de Massive: descentralizado, barato, justo y más

Dévoiler la vision technique derrière Massive : décentralisé, bon marché, équitable et plus encore

बड़े पैमाने पर तकनीकी दृष्टि का अनावरण: विकेंद्रीकृत, सस्ता, निष्पक्ष और बहुत कुछ

Massive の背後にある技術的ビジョンを明らかにする: 分散化、安価、公正など

Massive의 기술적 비전 공개: 분산화, 저렴함, 공정함 등

Revelando a visão técnica por trás do Massive: descentralizado, barato, justo e muito mais

Раскрытие технического видения Massive: децентрализованное, дешевое, справедливое и многое другое

Massive'ın Arkasındaki Teknik Vizyonu Ortaya Çıkarıyoruz: Merkezi Olmayan, Ucuz, Adil ve Daha Fazlası

Tiết lộ tầm nhìn kỹ thuật đằng sau Massive: Phi tập trung, giá rẻ, công bằng và hơn thế nữa

揭示 Massive 背后的技术愿景：去中心化、廉价、公平等等

What a crazy blessing. Ending in absolute fireworks, 2023 was a year of cleansing and rebirth. After the calamities of 2022, the year started off shaky and uncertain, full of political intrigue, regulatory contortions, institutional backflips, and Gary Gensler. In spite of the ravaging negative headlines, waning retail spirits, and eerie price action throughout the year, so much fundamental progress was made that market forces couldn't resist the alluring call of a maturing giga-industry, and crypto came back to life. New projects were launched, new technologies were discovered, regulators were challenged, companies held layoffs, hackathons took place, and life-changing money was made. It would be foolish (if not impossible) to cover everything that took place in a single attempt, but ultimately, the most important takeaway is that sentiments have shifted. We have begun to thaw from a prolonged bear winter and transitioned into colloquial "Crypto Spring." To celebrate our transition and prepare ourselves for the upcoming year, let's recap some of the most notable events that took place: * These are in no specific order. Political Progress Due to its boardless, digital nature, when talking politics in crypto, the conversations must always turn global. Traditionally, countries tend to structure their legislation following the example set by America. However, the constant ambivalent, opaque, monotonous attitude of the US has pushed innovation offshore and given an opportunity for other countries, including the likes of Singapore, the UK, and the UAE, among other, to take matters into their own hands and become leaders on the regulatory front. SEC gets Humbled Losing almost (if not every) major battle of the year, most notably Ripple, the Securities and Exchange Commission has become a laughing stock, largely considered incapable of conducting its duties at protecting anything (besides the interests of insiders). Now synonymous with the sneaky, sleazy, two-faced persona of Gary Gensler, it seems that in order to regain its reputation moving forward, the agency will have to rethink its policies and pivot into a more friendly, embracing position. Tornado Cash Sanctioned by the US Department of the Treasury's Office of Foreign Assets Control (OFAC), and its founders were arrested. The privacy-preserving mixer has been deemed a threat to national security because it violates KYC/AML policies. Thus the technology has been blacklisted and banned from the US, and any crypto address interacting with it becomes an enemy of the state. LBRY Decides not to Appeal Losing its case against the SEC in 2022, in which the ruling claimed that LBC digital tokens were, in fact, securities and that the entity behind LBRY failed to register the assets as such, the project has decided not to appeal the decision. The company has gone into receivership, but the network continues to operate. It is very possible that the company's assets are acquired by another crypto company, and the infrastructure that was built out, alongside its active community, merge into something greater than ever before. NFT Projects are Met with Regulatory Enforcement NFTs continue to be an asset archetype that has not been formally defined by the legal system. Nevertheless, 2023 saw the first round of action against NFT projects, including Cool Cats and Impact Theory. Both cases have been resolved without prison time and with multi-million dollar settlements, things that will set the precedent moving forward as to what the industry can expect. Purging the Demons and Serving up Justice The froth of the last cycle brought about lasting economic impacts; scar tissue in the form of fraud, manipulation, and poor protocol design lingers in the not-to-distant memories of the market. FTX, Sam Bankman Fried, Alameda, Genesis, Gemini, BlockFi, Terra Luna, Celcius, 3AC, and the gaggle of crooks have become a sore for the industry. The exhausting mental resources allocated to discussing the issues that transpired, finding who to blame, and pointing fingers has begun to subside. A lot of cleansing has taken place, but there are still a few loose ends that need to be squared off. Crypto is much more exciting than the processes taking place in courtrooms; hopefully, we can move past this sooner than later. Binance and the SEC After settling with the SEC for over $2 Billion USD for its slew of legal infractions, Binance was forced to change its leadership and mark the end of the CZ era. From humble beginnings as a crypto-to-crypto exchange to the single largest entity for payments, trading, investments, NFTs, and everything else, Binance has become the most recognized brand around the world. Countless millions of users, hundreds of billions of dollars, and hundreds of countries; the amount of positive value that this single company brought is impossible to quantify. Introducing Generation 5 Technologies 2023 marked a year of incredible technological innovation manifesting itself in horizontal expansion (new project launches). Scalability, Interoperability, and Privacy continued to be the core tenets of new discoveries. Arriving in many form factors, including alt L1s, Optimistic rollups, ZeroKnowledge Rollups, mult-sigs, and DEFI applications, the list of new projects powered by new technological primitives, with new go-to-market mechanisms and glorious airdrop campaigns have given rise to the next generation of blockchains. (Depending on how you count or who you ask, this would be the 5th generation of public blockchain tech). Alternative Networks and Rollups SUI, SEI, Aptos, Manta Pacific, Stargaze, Kujira, Astar, Blast, the list of new blockchain-based networks is ever-expanding. Each of these networks is running some kind of action-based incentive program and attracting TVL into their ecosystems. Each chain demands its own applications, teams, communities, launch, and operational capital, but that hasn't seemed to slow anybody down. Rollups Becoming the de-facto scaling tech for EVM, Rollups have attracted the attention of some of the industry's most notable entities, including Coinbase and Binance. Proving their value by facilitating multiple times more transactions than legacy base layer ETH, it seems as though Rollups will become the interfaces for applications to conduct activity. Moreover, it seems as tho this is the tech that has caught the majority of mindshare. Interoperability A MultiChain future has only become all the more likely. Interchain operations with solutions from Cosmos's IBC, Polkadot's XCM, and, of course, LayerZero are facilitating more transfers than ever before. Bridges, including Wormhole, Orbiter, Stargate, Symbiosis, et al. are exploding in TVL. This is a trend that simply cannot, will not revert. Bitcoin Ecosystem and Inscriptions Being the oldest and largest crypto network of all, Bitcoin was for many years considered to be a somewhat stale technology that has long discovered its use case, and interest in it has peeked. Not so fast. With the introduction of smart contracts and inscriptions on Bitcoin, a new caliber of ultra-wealthy users that can now do something with the coins they have just been sitting on flooded the ecosystem. This has resulted in divisions amongst crypto maxis and brought massive transactional revenue bonuses to miners. Price action of Q4 If you like Bitcoin at $20,000; your going love it at $44,000. The apes, degens, and bulls are waking up and looking for somewhere to throw their capital in opposition to tradfi. The last quarter of 2023 brought mind-melting, eye-water gains to holders of crypto across the board. Memapaoloosa Reinvigorated internet culture is starting to do its thing. Obscure meme coins like WIF, PEPE, BONK, and COQ are posting gains north of 1000%. Even though memes do not carry inherent value and tend to enter pronounced death spirals, their presence highlights the early stages of a recovering market. If memes are popping off, then one of two things is likely: either there is excess capital in the system, or OGs are preparing for an influx of retail. Either way, even if you don't make money on the memecoins, the wealth effect will inevitably spill over into other cryptos. Solana's Rising From the Ashes Beatin into oblivion from the FTX saga, Solana has broken all mainstream beliefs and become the underdog and best performer of the year. Beyond just the token's meteoric bounce from lows around ~$8 to over $120, the ecosystem has seen an influx of new users, glorious new applications, and functional improvements to the tune of an order of magnitude. Hosting one of the tightest, most resilient communities, Solana has become a platform for realizing sophisticated real-world applications and emerging market segments such as DEPIN. After a world-class Aidrop from the Jito MEV/liquid staking protocol, a pipeline of projects primed to release their tokens through a powerful network of distribution (The Solana Mobile phone); there seems to be no more talk of its death, just questions on how to best take advantage of the technology. Spot Bitcoin ETF It would be remiss if this is not mentioned. Perhaps the single most talked about crypto event of the year, many of the world's largest institutions, including the megalodon BlackRock, have filled for a spot in Bitcoin ETF. Unlocking the gates to institutions, a Spot Bitcoin ETF is in the cards for approval in 2024. However, as it stands, these ETFs will likely still be forced to settle in cash, which is a net positive but not as fundamentally impactful as having to settle in BTC. The industry has mixed opinions on what is to be expected from this; on the one hand, there are those who want to buy into the happening, while others approach with more caution, implying it is a "sell the news" event. After the rumors began circulating and people started to front-running one another, the price responded with tremendous strength. Given the cash settlements, pent-up demand, confluence of macro events, and pre-committed capital that is already penned for inflows greater than $200,000,000 USD; the only thing that seems guaranteed is that no matter what, it is a matter of time before the instrument is live. The Narrative Cycle During the re-stabilization period, crypto was looking for narratives that would supercharge it. Throughout the year, narratives have been shuffled around from AI to RWA, to Alt L1s, Rollups, DEPIN, ETFs, and so on. Stablecoins continued to blossom; DEFI took a beating in TVL but has become much more secure, being the year with the least total amount of hacks. NFTs are starting to make waves again, arguably led by Pudgy Penguins and new Trump Card mints. An influx of new major market participants and an increase in participation from existing ones, including Google, Franklin Templeton, VanEck, and others further confirm the growth of crypto. In short, 2023 was the best time to accumulate. Those brave enough to shut out the noise and lead by investment have already been rewarded for their diamond hands. Many people are getting disappointed, thinking they have missed their chance; friends, the entire market cap of our industry is ~1.6 Trillion… The game has just begun. History may not always repeat, but damn… It sure does tend to rhyme. Excited to be on this journey with you all; I hope you have reaped the rewards of Crypto's past & that your bags are ready to grow to the future. See you all in 2024.

2023 Was the Best Time to Accumulate Crypto

2023 ক্রিপ্টো জমা করার সেরা সময় ছিল

2023 war die beste Zeit, Krypto anzuhäufen

2023 fue el mejor momento para acumular criptomonedas

2023 était le meilleur moment pour accumuler de la crypto

2023 क्रिप्टो जमा करने का सबसे अच्छा समय था

2023 年は仮想通貨を貯めるのに最適な時期だった

2023년은 암호화폐를 축적하기에 가장 좋은 시기였습니다

2023 foi o melhor momento para acumular criptografia

2023 год был лучшим временем для накопления криптовалюты

2023 Kripto Biriktirmenin En İyi Zamanıydı

Năm 2023 là thời điểm tốt nhất để tích lũy tiền điện tử

2023年是积累加密货币的最佳时机

Blockchain faces a scalability problem due to limited transaction throughput, slow confirmation times, and resource-intensive consensus mechanisms. As user bases grow, demand for transactions increases, causing congestion and hindering the widespread adoption of blockchain technology. Solving scalability is crucial for enhancing user experience, supporting real-world applications, and ensuring the competitiveness of blockchain networks in a rapidly expanding industry. Here, I’ll explore the main blockchain scalability solutions available in 2023, dividing them into on-chain and off-chain solutions. 5 On-Chain Scalability Solutions On-chain scalability solutions, also known as ‘first-layer scalability solutions,’ refer to , and include methods like: scalability improvements made directly on the blockchain’s base layer Sharding Consensus algorithm optimization Forking Dynamic block size State rent These solutions typically change the underlying consensus mechanism, data processing methods, or block structure. Regardless, the goal is to boost the transaction throughput of the L1 chain. 1. Sharding Each shard works as an independent blockchain, meaning it can process a subset of transactions autonomously. A single main chain is tasked with keeping all shards synced. Sharding divides the blockchain network into smaller parts called ‘shards.’ For example, Ethereum has been adopting sharding since , when it launched the Beacon Chain. By parallelizing data processing, the network’s capacity increases substantially. However, sharding makes the blockchain consensus more complex and introduces new risks. For these reasons, Ethereum developers have postponed implementing sharding. December 2020 2. Consensus Algorithm Optimization Consensus algorithm optimization is a broad term encompassing various improvements to the underlying consensus mechanism for scalability. Here are some examples: removes unnecessary data from the blockchain, such as old transaction information no longer needed for validation. It makes the blockchain more manageable by reducing its size. Pruning allows the network to process transactions in parallel rather than sequentially, increasing throughput. Parallelization reduce the computational workload needed to validate a transaction, speeding up the consensus process and block confirmation. Optimized signature schemes For instance, has pioneered decomposing circuits for parallel transaction processing. Some blockchains that have used pruning to boost performance include and Zircuit VMware Blockchain, Monero, Aptos. In some cases, consensus algorithm optimization leads to soft or hard forks. 3. Soft and Hard Forking Soft and hard forks often implement significant changes to the blockchain protocol, such as introducing new features, fixing security vulnerabilities, or changing the consensus algorithm. A is a major structural or fundamental change to the blockchain’s protocol (e.g., increasing block size or reducing block time). It requires all nodes to upgrade to the new version, which is often contentious and can cause network splits. hard fork Conversely, a is backward-compatible, meaning nodes that haven't upgraded can still interact with the upgraded ones. soft fork The most notable soft and hard forks are , respectively. Segregated Witness (SegWit) and Bitcoin Cash SegWit, a protocol change to the Bitcoin network,  introduced a crucial improvement by separating transaction signatures from data. This separation boosted scalability by reducing the size of each transaction, meaning more transactions could be included in a block. While it was technically a soft fork, some Bitcoin developers started a hard fork to avoid the protocol update. The split resulted in a whole new network — Bitcoin Cash. 4. Dynamic Block Size Some blockchains , accommodating more transactions during busy periods. This allows them to manage high activity efficiently. adjust block size dynamically according to network congestion However, excessively large blocks pose centralization concerns by favoring nodes with greater resources. Striking a balance between achieving optimal scalability with dynamic block size without compromising decentralization and network stability is difficult. , a privacy-focused cryptocurrency, is the most successful and well-known example of a blockchain with a dynamic block size. Another example is Safex Cash. Monero 5. State Rent State rent is a mechanism implemented within the blockchain’s protocol that . This helps prevent indefinite storage, reducing network bloat and improving efficiency. In addition, it encourages responsible blockchain usage and ensures a more sustainable and scalable system. charges users ongoing fees for maintaining their data and smart contracts on the blockchain The main objective of the Nervos blockchain, also known as Common Knowledge Base (CKB), is to reliably store and preserve users’ data and assets. It to compensate miners for providing storage space and to ensure network scalability by discouraging the storage of unnecessary data. charges state rent 6 Off-Chain Scalability Solutions Off-chain scalability solutions aim to increase the transaction throughput of the base layer just like on-chain solutions. However, instead of making changes to the L1 chain, . off-chain methods scale their capacity by processing transactions and smart contracts off the main chain Here are the off-chain scalability solutions I’ll explore below: Bridges and interoperability protocols Sidechains Layer 2 blockchains (L2s) State and payment channels Rollups Validium The terms “off-chain scalability solutions” and “layer 2 blockchains” are sometimes used interchangeably, but they’re not synonymous (more on this later). A quick note before we start: 1. Bridges and Interoperability Protocols Bridges and interoperability protocols aren’t scalability solutions per se. However, they by facilitating cross-chain transactions and communication. This allows for the distribution of the load across multiple interconnected chains, contributing to scalability. make different blockchains interoperable Essentially, bridges use smart contracts deployed on the mainchain and a side chain or layer 2 to control the bridging of assets and data between them. Assets aren’t physically moved across chains, though. The bridging mechanism typically involves burning or locking and minting for transferring value. Bridges can be used to connect blockchain layers or separate blockchains. For example, you can use a bridge to move funds from (L1) to (L2 built on Ethereum) or to transfer them from Ethereum (L1) to (another L1). Ethereum Arbitrum Solana 2. Sidechains A sidechain is a , using a two-way bridge for cross-chain communication. These chains can have radically different protocols, block parameters, consensus algorithms, and tokens, and are often optimized for specific use cases. separate blockchain that runs independently from the mainchain While they’re commonly geared towards efficient transaction processing, using sidechains involves trade-offs. They often sacrifice some measure of decentralization and security for high throughput, add complexity, and require a lot of investment and effort to set up. Sidechains are independent but typically pegged to the main chain. To communicate, assets are locked in the main chain, and an equivalent amount is unlocked in the sidechain (and vice-versa). The mainchain can be connected to several sidechains and be used as a relay network for inter-sidechain communication. Here are some prominent sidechain examples: was one of the first-ever Ethereum sidechains. Its main aim is to scale the mainchain through faster and cheaper transactions. Gnosis Chain improves Bitcoin’s functionality with faster transactions and greater confidentiality. The Liquid Network adds smart contract functionality to the Bitcoin network, allowing them to build dapps using Solidity. RootStock Polygon is often referred to as a sidechain, but it evolved to feature layer 2 characteristics when it rebranded from Matic Network in 2021. 3. Layer 2 Blockchains Layer 2 blockchains aren’t one solution, but a group of solutions. As mentioned, . the terms “layer 2 blockchains” and “off-chain scalability solutions” are sometimes used interchangeably, but they’re not synonymous In essence, what makes layer 2s different from other off-chain methods, including sidechains, is that they derive their security from the layer 1 chain. L2 scalability solutions include state channels, payment channels, optimistic rollups, and zero-knowledge rollups. 4. State and Payment Channels Channels allow participants to — one to open and another to close the channel. This facilitates extremely high transaction throughput at a low cost. It also reduces congestion, fees, and delays in the mainchain. carry out an unlimited number of instant, feeless transactions off-chain, while only submitting two on-chain transactions are suitable for all types of transactions, including general-purpose computation. They are particularly useful for scenarios requiring frequent interactions between parties, like gaming or microtransactions. State channels are a specific type of state channel for conducting fast and cost-effective micropayments directly between participants. Payment channels While there are some nuances specific to payment channels, the process of using a channel generally has three steps: Participants create a multi-signature on the blockchain and lock a certain amount of cryptocurrency into it, establishing the initial state. Setting up the channel: wallet Participants conduct a series of off-chain transactions among themselves. These transactions are not broadcast to the blockchain but are instead signed by the involved parties. Off-chain transactions: When participants are done, they can close the channel by submitting the final state to the mainchain. Closing the channel: The two most notable channels are the for Bitcoin and the for Ethereum. Lightning Network Raiden Network 5. Optimistic and Zero-Knowledge Rollups Rollups are built to increase transaction throughput and reduce costs for users. They’re called “rollups” because they roll up (i.e., bundle) a set of transactions, execute them on an off-chain virtual machine (VM), and submit a state update representing all batched transactions to a smart contract in L1. The smart contract deployed on the mainchain connects the two layers and maintains the rollup state — it works as a bridge between the two layers. The main difference between optimistic and zero-knowledge (ZK) rollups is their security models. only submit a summary of all transactions and a validity proof to finalize a batch of transactions. Once the smart contract verifies the validity proof, funds can be moved from L2 to L1 immediately. ZK-rollups post all transaction data to the mainchain in batches and assume transactions are valid by default. This results in quick processing, but there’s a delay period for L2 to L1 withdrawals so that any participant can submit a fraud proof if they believe a transaction is invalid. Optimistic rollups Rollups are one of the safest and most promising scaling solutions because they operate independently, but rely on the mainchain for data availability and transaction finality, deriving its security and decentralization. ZK-rollup examples include zkSync, Starknet, and Polygon zkEVM. Arbitrum and Optimism are the most popular optimistic rollups. Zircuit is a pioneering hybrid architecture rollup, combining optimistic and ZK infrastructure. 6. Validium Validium combines the benefits of rollups and state channels, creating a highly scalable, privacy-focused layer 2 solution. It executes transactions and stores data off-chain, substantially increasing throughput. So much so, that a single Validium chain can process (and several chains can be run in parallel). over 9,000 transactions per second Like ZK-rollups, it submits validity proofs to a smart contract on the base layer to verify off-chain transactions and allows for speedy withdrawals. However, it doesn’t store transaction data on the base layer — this is the main difference between Validiums and ZK-rollups. While this is one of the reasons Validiums offer such high transaction throughput, it introduces trade-offs. For instance, off-chain data can be withheld from users, freezing their funds in L2. StarkWare’s StarkEx is a validity-proof-based scalability solution where you can choose to operate with ZK-rollup or Validium data availability. Another interesting example is Matter Lab’s zkSync. They sharded the network — one part works as a regular ZK-rollup and another, the zkPorter root, works as a Validium, where data availability is secured by the supermajority of the validator’s stake. Closing Thoughts: Why Do We Need So Many Blockchain Scalability Solutions? Diverse blockchain scalability solutions are essential for the mainstream adoption of blockchain and due to the varying needs of different use cases and user preferences. Each network and application has unique scalability challenges; that’s why no one-size-fits-all solution exists. Web3 Having multiple solutions allows for flexibility in addressing specific scalability issues, suits diverse applications, meets the requirements of a global user base, and prevents single points of failure. This variety fosters innovation and competition, ultimately enhancing the overall efficiency, usability, and accessibility of blockchain and Web3 technologies. In 2023, developers introduced numerous blockchain scalability solutions, including . Research breakthroughs have reignited interest in . 2024 promises excitement for the blockchain space, and I anticipate continued growth in the scalability ecosystem. innovative hybrid architectures zero-knowledge rollups Also published here.

A Comprehensive Review of the 11 Most Promising Scalability Solutions in 2023

(IBW), the country’s flagship series of blockchain and Web3 events held in Bangalore from Dec.4-10, is delighted to announce that the attendees are going to have unparalleled opportunities for networking, collaboration, and discussion at the weeklong festival. BANGALORE, India, November 29th, 2023/Chainwire/-- India Blockchain Week There will be over 60 conferences, hackathons, networking events, workshops, a demo day and more. The IBW will be a platform where blockchain builders, investors, TradFi executives, policymakers, and crypto-curious newcomers from India and around the world come together to discover the future of DeFi, crypto, dApps, and explore the impact of Web3 on finance and culture. IBW presents an unparalleled gateway for participants to engage with their most-admired thought leaders, experts and influencers in the blockchain ecosystem. For Web3 companies, this is a unique opportunity to engage with emerging talent, participate in the IBW Demo Day and Hackathon, attract new developers to the blockchain arena, and expand the ecosystem in India. Besides the IBW VIP Dinner, IBW After Party, and Hashed Founders Night organized by IBW and Hashed Emergent, here are some of the key highlights of the industry gathering: : Hosted on Dec.6-7, 2023 at the Sheraton Grand Whitefield, it features keynote speeches and panel discussions on the latest developments and opportunities in the web3 space, and examining the policy landscape. The headline conference also includes a demo day and a hackathon. IBW’23 Conference : The Demo-Day will be held on 7th December from 2-6 PM to spotlight 12 notable Indian Web3 startups at the IBW'23 Conference venue. This 4-hour demo day will cater to the broad audience  including investors, founders, builders and others. It is organized in partnership with elite companies, VC funds and accelerators including Aelf Ventures, Hashed Emergent, Graviton, Coinswitch, and Google Cloud. Demo Day Hackathon: The virtual hackathon on Dec.6 is expected to see the participation of over 2,500  enthusiastic individuals. Organized by IBW and HackerEarth, the hackathon will conclude on a 250-member stage at the IBW'23 Conference venue. : Organized by Devfolio and ETHGlobal from Dec.8-10, it is one of the world's largest Ethereum hackathons, hosting over 1,500 builders and 25+ workshops. ETHIndia : Set for Dec.7, Polygon Connect India is the celebration of this region’s leg of DevX Global Tour, a global gathering of tech builders and innovators. Polygon Connect : Another prominent side-event on Dec.7. It's a one-day conference filled with Polkadot innovations, thought-provoking conversations, and community gathering. Polkadot Pulse : ​The Indian edition of Filecoin’s global event series. Spanning across Dec.3-4, it focuses on providing developers the tools, resources and guidance to build for the decentralized future. FILBangalore : Organized by ETHGlobal, Pragma is a one-day, single-track summit with intimate, high-quality talks by industry leaders for a global audience. Pragma India : Powered by STAN, it’s an exclusive journey into the thrilling realm of Web3 Gaming! This event unites industry leaders, developers, and passionate Web3 enthusiasts to discuss groundbreaking ways of forging connections and creating value in Web3 Gaming. Confirmed speakers are Sebastian Borget from The Sandbox, Vinayak Rao from Aptos, Neeraj Khandelwal from Okto, Parth Chadha from STAN and more. IBW Gaming Mixer Here’s the . With over 60 registered side events, attendees can expect a week brimming with engagement and insight. IBW has also onboarded the popular NFT artist Punk6529 as the official NFT Art Partner. Artworks from the Memes by 6529 and the 6529 Museum collections will be displayed at the event. full list of side events The IBW organizers would like to thank the sponsors for their help in making it the most important event in the country for conversations about crypto, blockchain, and Web3. Avalanche is IBW’s top-flight title sponsor while the roster of gold sponsors includes Polkadot, Internet Computer, Glip, Ledger, Aptos and Hunch. The silver sponsors are Bharatbox, Saber, FireDrops, dYdX, Supra, Orbs, Zoth, Persona, Berachain, and Shemaroo. About India Blockchain Week (IBW) India Blockchain Week (IBW) is a series of blockchain and web3 events, spanning from 4-10 December 2023 across Bangalore, India. IBW is a week-long array of 60+ web3 events, including flagship events such as the headline IBW Conference, ETHIndia, Polygon Connect, Polkadot Pulse, FILBangalore and many other side-events, networking events, workshops, parties etc hosted by Indian & global blockchain industry stakeholders. The IBW Conference is the two-day headline event anchoring India Blockchain Week (IBW) on 6-7 December 2023 at the Sheraton Grand, Bangalore and hosted by Hashed Emergent - a team and brand dedicated to accelerating the mass adoption of Web3 in India. Buy Tickets Discover Sponsors Check out FAQ For more information about IBW, visit: | | | Website Twitter LinkedIn Telegram Contact Irshad Ahmed gm@indiablockchainweek.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program . here

India Blockchain Week Gears Up For The Country’s Biggest Web3 Gathering With Over 60 Side Events

The researchers conducted an in-depth analysis of blockchain security, focusing on a less explored aspect— the security of the central servers, known as validators, that support blockchain networks. These validators were provided by InfStones, a company offering staking services on various blockchain protocols. The researchers discovered a chain of vulnerabilities that allowed them to compromise the security of these validators. The research team adopted a distinctive approach, treating blockchain validators as conventional servers and delving into classical hacking techniques. The vulnerabilities unearthed not only granted control over these validators but also enabled the execution of code and extraction of private keys, potentially leading to losses surpassing among others. one billion dollars in various cryptocurrencies, including ETH, BNB, SUI, and APT, https://twitter.com/omersadika/status/1726940679849287950?embedable=true They initiated their investigation with the Sui blockchain network, known for its robust security. Using an API call on the Sui Explorer, they obtained a list of active validators and IP addresses. Further investigation led them to a specific server managed by InfStones, which piqued their interest. The targeted server had an open port (55555/tcp) running an open-source Tailon tool, designed for reading log files. Exploiting a vulnerability in Tailon, the researchers gained Remote Code Execution (RCE) on the Sui validator. Tailon ran as a root user, giving the researchers significant privileges. They exploited this initial entry point and extended their attack to other InfStones servers using a similar setup. Through a Censys search, they identified close to 80 servers with the same Tailon service. However, some servers required basic authentication for access. To overcome this, the researchers created an account on the InfStones platform and, through their investigation, discovered an API that acted as a proxy connecting to Tailon. By setting up their server and using the proxy, they obtained credentials that allowed them to authenticate on servers requiring basic authentication. Having gained control of around 80 nodes, the researchers reported the initial vulnerability to InfStones in July 2023. They found AWS credential files on all servers during their exploration, indicating that InfStones downloaded blockchain network binaries from S3 buckets. The compromised credentials had read access to the buckets and write access, enabling potential manipulation of the binaries. Further exploration uncovered a service running on port 12345 named "infd." The researchers identified that this service ran as a root user by exploiting a command injection vulnerability in the "upgrade" route. However, JWT authentication posed a challenge. The researchers discovered a server with a specific CloudProvider setting that allowed them to bypass JWT authentication and exploit the command injection vulnerability. This server was identified as the InfStones Aptos validator, which staked approximately 150 million dollars. The impact of these vulnerabilities was substantial. An attacker exploiting these flaws could acquire the private keys of validators across various blockchain networks, potentially leading to the slashing of validators, withdrawal of staked funds, or theft of staking rewards. The affected validators represented a significant portion of the Ethereum network and Lido, a major operator in the space. The researchers responsibly disclosed their findings to InfStones and communicated the potential impact of the vulnerabilities. , and the researchers agreed to delay public disclosure to allow time for remediation efforts and key rotation. InfStones claimed to have remediated the issues and is actively collaborating with InfoStones to address the identified issues. The focus is on rectifying the problem specifically related to Ethereum nodes within InfoStones' infrastructure. Lido DAO has acknowledged the reported vulnerability While progress is being made in addressing the Ethereum-related concerns, there remains uncertainty regarding the extent of the impact on Lido's validators and other networks mentioned in dWallet's comprehensive report. The collaborative effort aims to thoroughly investigate and mitigate any potential repercussions arising from the vulnerabilities. This study highlighted a gap in the accountability and responsibility related to the security of blockchain network validators. While considerable resources are invested in code quality and smart contract security, the security of validators is often considered out of the scope of bounty programs, creating a potential entry point for attackers. The researchers emphasized the need for increased focus on the security of validators, crucial components of blockchain networks. Looking Forward Users can take several actionable steps to enhance the security of their involvement in blockchain networks and technologies. First and foremost, it is crucial to stay informed about the ever-evolving security landscape of blockchain networks. Following reputable sources, security researchers, and organizations regularly sharing insights and updates will help individuals and organizations avoid potential risks and vulnerabilities. If you are involved in staking or operating nodes on blockchain networks, diversifying your validator services is a prudent strategy. Relying on a single service provider increases the risk of vulnerabilities or attacks. Furthermore, regular security audits of the infrastructure are essential. These audits should go beyond the assessment of code and smart contracts, extending to the security of the validators supporting the network. Implementing multi-factor authentication (MFA) is another critical measure. Enabling MFA on all accounts and services related to blockchain operations adds an extra layer of security, mitigating the risk of unauthorized access. Security awareness training for personnel managing blockchain infrastructure is equally important. It ensures that individuals are well-informed about potential threats, common attack vectors, and the best security practices. In the event of discovering vulnerabilities in blockchain networks or services, it is advisable to follow responsible disclosure practices. Promptly notifying the affected parties and collaborating with them to address the issues before public disclosure can minimize potential harm. Additionally, regularly reviewing and auditing the configurations of cloud services used in blockchain operations is vital. This includes securing services, closing unnecessary open ports, and appropriately configuring access controls. Recognizing the critical role of validators in the security of blockchain networks is essential. Encouraging blockchain projects and organizations to include validator security as part of their security programs and bug bounty initiatives can contribute significantly to a more secure ecosystem. Continuous monitoring for unusual activities and unauthorized access on validator nodes is also recommended. Early detection of suspicious behavior can prevent or minimize the impact of security incidents. Finally, supporting initiatives that advocate for comprehensive security programs in the blockchain space and the inclusion of validator security in bounty programs will contribute to addressing potential vulnerabilities effectively.

The Achilles' Heel of Blockchain: How Validators Became the Target of a Billion-Dollar Threat

ব্লকচেইনের অ্যাকিলিসের হিল: কীভাবে বৈধকারীরা বিলিয়ন-ডলারের হুমকির লক্ষ্যে পরিণত হয়েছে

Die Achillesferse der Blockchain: Wie Validatoren zum Ziel einer milliardenschweren Bedrohung wurden

El talón de Aquiles de Blockchain: cómo los validadores se convirtieron en el objetivo de una amenaza de miles de millones de dólares

Le talon d'Achille de la blockchain : comment les validateurs sont devenus la cible d'une menace d'un milliard de dollars

ब्लॉकचेन की कमजोरियां: कैसे सत्यापनकर्ता अरबों डॉलर के खतरे का लक्ष्य बन गए

ブロックチェーンのアキレス腱: バリデーターがどのようにして 10 億ドル規模の脅威の標的になったのか

블록체인의 아킬레스건: 검증자가 어떻게 수십억 달러 위협의 표적이 되었습니까?

O calcanhar de Aquiles do Blockchain: como os validadores se tornaram alvo de uma ameaça de bilhões de dólares

Ахиллесова пята блокчейна: как валидаторы стали объектом угрозы на миллиард долларов

Blockchain'in Aşil Topuğu: Doğrulayıcılar Nasıl Milyar Dolarlık Tehdidin Hedefi Haline Geldi?

Gót chân Achilles của Blockchain: Làm thế nào các trình xác thực trở thành mục tiêu của mối đe dọa hàng tỷ đô la

区块链的致命弱点：验证者如何成为数十亿美元威胁的目标

, a GameFi and Initial Game Offering (IGO) platform, today announced the launch of Pancake Mayor, a new city-building simulator on the newly launched PancakeSwap Gaming Marketplace. SINGAPORE, Singapore, November 15th, 2023/Chainwire/-- BinaryX Pancake Mayor is a free-to-play casual city-building game where players can obtain in-game currency, Mayor Cash, to upgrade and build their own cities, inspired by famous cities around the world. Players can accumulate Mayor Cash by playing a spin-the-wheel mini-game, raiding other players' cities, and participating in special events. "We designed Pancake Mayor for the everyday gamer - it offers a fun, lighthearted and rewarding experience for our users," said Rudy S., Head of Growth at BinaryX. "Pancake Mayor is the first of many hyper casual games that we will develop in the play-to-earn space, and it will provide our gamers with a new way to utilize, engage, and earn with BinaryX. We are excited to launch on PancakeSwap’s Gaming Marketplace to bring Pancake Mayor to new users.” Hyper casual games are becoming increasingly popular, and Pancake Mayor is positioned to appeal to a wide range of gamers. The game is easy to play and offers a variety of ways to earn rewards, making it a great choice for both casual and experienced gamers alike. “PancakeSwap’s Gaming Marketplace marks an exciting new chapter in our continued commitment to innovation and enhancing the user experience. We invite our community, gamers, and game developers to join us in creating a gaming ecosystem that is vibrant, innovative, and, above all, incredibly fun,” said Chef Mochi, Head of PancakeSwap. Watch the trailer of Pancake Mayor https://www.youtube.com/embed/M0JjJ5Ljn5I About BinaryX is a leading GameFi and IGO platform committed to delivering cutting-edge gaming experiences backed by blockchain technology. BinaryX Offering services, BinaryX gives game developers the opportunity to launch their GameFi projects on their platform, and for users to get early access to innovative new games. Initial Game Offering (IGO) As one of the top projects on the BNB Chain, BinaryX has a vast community of more than 100k coin holders. With the token BNX, BinaryX is also one of the top few metaverse projects by trading volume on the BNB chain, with a strong market cap. For more information, please visit www.binaryx.pro For media inquiries, please contact: marketing@binaryx.pro About PancakeSwap PancakeSwap is a leading multichain decentralized exchange that operates on an automated market maker (AMM) model and is available across 9 chains: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, Base, and opBNB. Launched in 2020, PancakeSwap is one of the most popular DEXs in the cryptocurrency industry due to its low transaction fees, high-speed trading, and user-friendly platform. PancakeSwap has over $614 billion in total trading volume and over $1.39 billion in total liquidity locked, making it the leading multichain DEX in the industry.For more information, visit . https://pancakeswap.finance/ For media inquiries, please contact PancakeSwap Team Email: marketing@pancakeswap.com Contact Kora marketing@binaryx.pro This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program . here

BinaryX Launches City Building Game Pancake Mayor On PancakeSwap’s New Marketplace

Stories, News & Mentions about APTOS

Aptos’s Stories on HackerNoon

Aptos's News & Mentions