Biconomy Profile picture
Sep 8 β€’ 6 tweets β€’ 2 min read
That old debate between going Multichain and Cross-chain.

π—ͺ𝗡𝗢𝗰𝗡 π—Άπ˜€ π—―π—²π˜π˜π—²π—Ώ 𝗳𝗼𝗿 #π—ͺπ—²π—―πŸ―?

In reality, it's about dApps leveraging the synergy between both approaches to scale.


The focus will be less on β€œπ°π‘π’πœπ‘ 𝐭𝐞𝐜𝐑 𝐬𝐭𝐚𝐜𝐀 𝐒𝐬 π›πžπ­π­πžπ«?”, and more on eliminating market inefficiencies and increasing overall composability in #web3.

A #multichain approach can optimize security. However, it is extensive and cost-inefficient in most cases.

On the other hand, cross-chain solutions can be easily integrated, and offer fast execution, but the journey toward real decentralization is longer.


Cross-chain and multi-chain solutions need not be mutually exclusive. In fact, many #crosschain solutions are now facilitating the development of the multichain ecosystem.

Very soon, we could see more of #Web3 strategies embrace both cross-chain and multichain approaches to scale.

What're your thoughts on the multi-chain vs. cross-chain narrative?

Tells us about it and share your innovative ideas towards a connected Web 3, hereπŸ‘‡…

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More from @biconomy

Sep 10
πŸ‘‹Hey Biconauts,

Dependable communication between different chains is essential, meaning its necessary to be able to read and write data across blockchains efficiently.

That can be done using a Cross Chain Messaging Protocol, which we are covering in today’s glossary term.πŸ§΅πŸ‘‡ Image

What cross-chain messaging does is assure participants on the target chain that the information comes from the source blockchain & that it is dependable.

The nodes on the initial blockchain must convince the nodes on the destination chain that the message can be trusted.

That can be done using a cross-chain function call & relayer nodes.

A Cross Chain Function Call SDK code calls the Cross Chain Messaging Layer SDK code to determine the target blockchain & submits the information, and the Cross Chain Messaging contract verifies the source.
Read 5 tweets
Sep 9
🧑#𝐁𝐒𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐇𝐒𝐠𝐑π₯𝐒𝐠𝐑𝐭

Featuring @biconomy's long-time partner & NFT/Play-to-earn/Metaverse sensation- ✨ @zed_run ✨


What is ZED RUN?

ZED RUN is a futuristic 🐎 horse-racing platform with each NFT representing a digital racehorse.

You can build a horse-racing empire in the #Metaverse filled with top pedigrees and the finest racers!

Collect, breed, and make strategy your game!

At the same time, for #P2E games similar to ZED RUN, with massive micro-economies and hundreds of thousands of transactions every day β€” it is important to keep the user experience frictionless.
Read 7 tweets
Sep 9
Building in #Web3 is a beast, and developers face critical decisions every day.

One of the most important questions this year?

Where should we build, and how?

Should our approach be chainless or multichain?

Think it through with us πŸͺ‘πŸ‘‡πŸΌ

How do we go beyond monolithic blockchains for better speed, security, and interoperable txns?

Multiple chains and layer 2s have come up to scale #Web3, but there's a lot of friction between these chains.

The result? Lower network effects πŸ‘ŽπŸΌ

We know the current situation is not sustainable.

There’s the clunky user experience, the self-management of wallets and keys, and the lack of killer apps.

As Web3 becomes #multichain, the burden of dealing with cross-chain friction has degraded the experience more.
Read 8 tweets
Aug 18
πŸ“™ π–πžπžπ€ #πŸ’ 𝐨𝐟 𝐁𝐒𝐜𝐨𝐧𝐨𝐦𝐲 𝐅𝐀𝐐𝐬

What makes Hyphen more secure than other EVM bridges?

Hyphen was designed with security baked into its design. Here are the top 3 reasons that make Hyphen more secureπŸ§΅πŸ‘‡

βœ…Multiple smart contract audits:

Hyphen pool contracts have been audited twice.

βœ”οΈAudit by @HalbornSecurityπŸ‘‡

βœ”οΈAudit by @code4renaπŸ‘‡…

βœ…Crypto-economic security:

Cryptographic proofs are checked to prevent double-spending.

Additionally, Hyphen implements a dynamic mechanism that makes the transfer fee variable.

It depends on:
- total liquidity supplied by LPs
- available liquidity in the pools.
Read 9 tweets
Aug 17
To incentivise & simplify onboarding, @dYdX offer gasless deposits powered by Biconomy.

Read on to know how this helped them add 23,000 new users & save them $738K in gas fees!πŸ‘‡
/2 The dApp…

@dYdX is a fully decentralized trading perpetual exchange. Backed by some of the world's largest VCs such asΒ a16z Crypto
/3 The Challenge…

With thousands of unique users in 2021, dYdX feared that traders were burdened with gas fees when making deposits to their new accounts.
Read 5 tweets
Aug 17
What is the most exciting thing about #Web3 to you?

Decentralization? Open access? Ownership?

For us, at @biconomy the most interesting lego of Web3 is --βœ¨π‚π«π¨π¬π¬-𝐜𝐑𝐚𝐒𝐧 π‚π¨π¦π©π¨π¬πšπ›π’π₯𝐒𝐭𝐲✨

Why does it excite us so?


Composability accelerates digital innovation in Web3 much more rapidly than Web2 could ever achieve:

Unlike Web2, developers don't have to wait for a code to be unveiled after reaching maturity.

Thanks to the smart contracts being composable, developers can build on top of apps (even nascent ones) because code is open and verifiable and trust is not required.
Read 14 tweets

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