While everyone is super hyped up about Ethereum's London Hardfork and EIP-1559, I feel like the upcoming Columbus-5 upgrade on Terra is being relatively slept on.
A thread on Terraโs upcoming Columbus-5 upgrade and why it's a gamechanger ๐๐
Disclaimer: GBV have invested in several Terra Ecosystem projects ๐
1) There are three key upgrades in the Columbus-5 upgrade:
1. Burn all seigniorage ๐ฅ 2. Upgrade to Stargate - enabling IBC and protobuf migration (10x-100x tx speed) 3. Ozone and Wormhole Launch
I'll explain each of these key upgrades and their implications on the ecosystem.
(1) Recently, Polygon announced their new data availability layer named โAvailโ, which brought some attention to this technology where originally a project named Celestia (previously LazyLedger) was working on. @CelestiaOrg@0xPolygon@Mustafa
(2) However, due to its complex nature, most people don't try to understand it. In this thread, I try to explain simply the whats and whys of a data availability infrastructure theyโre building. First, let's understand the data availability problem.
(3) Data availability problem occurs when a block producer publishes a block header that is valid but purposely obscures the underlying transaction data. This is a problem because light nodes only rely on the block header to verify and can be tricked into accepting invalid blocks