As more and more dApps switch to app-specific blockchains, monolithic blockchains could become the "Yahoo" of blockchains
Are you unsure whether to bet on monolithic or app-specific blockchains?
Here's everything you need to know about app-specific blockchains
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In this thread we will discuss:
1. What are app-specific blockchains? 2. Features of an app-specific blockchain 3. Benefits of app-specific blockchains 4. Drawbacks of app-specific blockchains 5. As a builder, should you use an app-specific blockchain?
App-chains are especially beneficial for institutions and established businesses that want to enter the Web 3 world with a "permissioned blockchain"
App-chains allow them to employ whitelisted validators and also to conceal all business data from the outside world
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4. Drawbacks of App-chains:
• Fragmented Liquidity
• Composability is limited
• Unsecure bridging mechanisms
• Weak security model (isolated security)
• Much harder to deploy than a smart contract
• Independent developer ecosystem
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5. As a builder, should you use an app-specific blockchain?
It will be determined by the specific NEEDS and FEATURES that are crucial for the dApp
The consensus model provided by the base layer of your app-chain is also a crucial factor to take into account
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Some base layers do not allow independent app-chains to have their own consensus model while some allow the app-chain to choose b/w an independent consensus model and the base layer's consensus model
Choose the appropriate model for your dApp!
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Ex:
You would be better off adopting an app-chain if you need high customizability and an independent governance system but are willing to give up the massive L1 liquidity
Teams must always assess the trade-offs and determine whether they are acceptable for them!
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- A judge has partially denied a motion by Aptos Labs CEO Mohammed “Mo” Shaikh to dismiss a lawsuit filed by entrepreneur Shari Glazer, who claims to have been cheated out of equity as an early investor
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- J.P. Morgan and Visa are teaming up to streamline cross-border payments using their private blockchain networks, Liink and B2B Connect
- October becomes worst month in DeFi history as hackers steal $718M across 11 protocols
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👨⚖️ Government, Regulatory and Legal News:
- US crypto policy advocacy group Coin Center has filed a lawsuit against the Treasury Department’s Office of Foreign Asset Control (OFAC) over sanctioning cryptocurrency mixer Tornado Cash
ypto-payments for property taxes
Dynamic NFTs are the next generation of conventional NFTs
dNFTs are still in their infancy, learning more about them can make you an early mover on a developing narrative
We provide you with everything you need to know about dNFTs
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In this thread you will learn:
1. What are Static NFTs? 2. What are Dynamic NFTs? 3. How does @chainlink support Dynamic NFTs? 4. Potential use cases of dNFTs 5. Benefits of Dynamic NFTs 6. Should NFT projects use the Static or Dynamic NFT model?
Recently, The White House Office of Science and Technology Policy (OSTP) released a report about the climate and energy implications of crypto-assets in the US.
2/ The report underscores the damage that climate change is doing to human health, the environment, and the economy, insisting on solving these problems by reducing anthropogenic greenhouse gas
And Proof-of-Work cryptos such as Bitcoin stay in the way of solving these problems
• How does Cosmos work? (deep dive)
• Why are Dapps moving to Cosmos?
• Interchain Security
• The future of ATOM?
• Top Cosmos people to follow
• Cosmos Concerns
• News & Resources
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We break it all down for you here 👇 🧵
In this thread, we will cover:
• Logic behind why Cosmos was created
• Hubs & Zones
• Tendermint
• IBC
• Cosmos SDK
• Interchain Security
• Thoughts on $ATOM tokenomics
• Concerns
• Interesting projects building on Cosmos
• Some interesting news & developments
This thread was researched and written by Illuminati researcher @0x_ridam.