Kaizenga Profile picture
Aug 8 16 tweets 4 min read
One standout narrative for #crypto markets in 2021 was the L1 wars. New protocols and #Ethereum forks achieved significant market share during the speculative frenzy.

Makes it all the more refreshing to see an open source project attempting more genuine innovation.

.@KindeliaOrg is not a typical cryptocurrency project. While it does come with a native transactional token (more on that later) - that currency is not required.

Kindelia is an attempt at a P2P functional computer - utilizing the HVM - High-order Virtual Machine).

The HVM opens up the possibility for real-time, dynamic and verifiably accurate functionality in blockchain applications. More technical details can be provided in a long-form article once the Kaizenga platform is complete.

For now it’s useful to know the HVM benefits are primarily thanks to how state is represented. Instead of Merkle trees - it relies on reversible heap snapshots. This leads to dramatic cost reductions versus EVM operations like SSTORE and SLOAD.

The reduction in cost and state representation mean the HVM allows for nearly free data persistence on-chain. Further since the HVM allows for functional programming languages - formal verification of functional correctness (mathematically guaranteed) is possible.

ie. It’s possible to verify that contracts will function as they say they will (reducing auditing costs and reliance). Auditing can then slightly shift towards ensuring all invariant possibilities were considered in the formal verification.

With all that said - Kindelia, utilizing the HVM - is not a complete substitute for Ethereum. It aims to combine the simple, boring, robust and fair nature of Bitcoin with the relative turing completeness of Ethereum.

Instead of grouping transactions - Kindelia creates statements about network state changes. There aren’t any formal .to and .amount fields. Blocks on Kindelia then group these statement scripts.

Regarding the lack of native currency - validators need some incentive to participate. Initially - the idea is validation is expected to be altruistic. Miners can include statements sorted by their hashes. Anyone can further deploy and use functions for free initially.

However when blocks reach a threshold along three possible paths, a fee market should emerge with users paying miners for priority sequencing.

The interesting part is that users can pay miners in tokens of their choosing which exist on Kindelia.

Miners can further collect block rewards from any user-deployed tokens, rather than relying solely on an official native currency. With that said the Kindelia Foundation will be releasing a no pre-mine currency deployed on the first block called the Kindelia Genesis token.

It will include a method to mint coins once per block and will follow Bitcoin’s emission curve. This should further incentivize miners to keep the network secure, especially early on.

Initial benchmarks showed Kindelia may offer 1 second transactions but with 2x to 867x more operations per second thanks to the state and efficiency changes.

Ethereum account systems will also be compatible thanks to corollaries in account representation.

Kindelia seems like an interesting approach to L1 infrastructure natively and readily capable of offering fast and secure transaction functionality without requiring L2 obfuscation. Applications like exchanges, tokens, complete virtual worlds and games can most benefit.

This content was written by .@AliAtlasC. Follow
@kaizenga for research and analysis on all things crypto - as well as development updates as I build a native content and analytics platform.


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More from @Kaizenga

Aug 8
The #Ethereum merge is set to take place some time this September.

If you’re holding spot into the event - here are a couple of exchanges who have already announced support for forked coins.

First - why would the upgrade be accompanied by hard forks? PoW is mined with hardware. Ethereum will be moving to PoS - which doesn’t require the exhaustive computation.

Current miners then can sell their hardware, move on to other chains, or support a PoW hard fork.

Another simpler reason is if the market can contrive more tangents for speculation and relative ponzis - it will.

So far, three exchanges have announced support (that I know of) - .@HuobiGlobal .@Poloniex and .@gate_io

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