The blockchain industry will reach a $1,000,000,000,000 valuation in the near future.
Do current limitations on scalability and cost hinder its potential?
Introducing #dappchains.
🎯 Must-Read Thread!
Do current limitations on scalability and cost hinder its potential?
Introducing #dappchains.
🎯 Must-Read Thread!
The vision of a multi-chain network and scaling problems of L1s have facilitated the boom of the #dappchains.
✦ The idea of an application chain was not born yesterday. #Cosmos envisioned creating an ecosystem of universal connectivity beginning.
✦ The idea of an application chain was not born yesterday. #Cosmos envisioned creating an ecosystem of universal connectivity beginning.
⚡️As a solution for resource-intensive decentralized applications, #dappchains is a new way to scale and reduce strain on the network.
Imagine a game that has millions of players. Should the game rely on the scalability of another network that hosts other games?
Imagine a game that has millions of players. Should the game rely on the scalability of another network that hosts other games?
It doesn't make sense and introduces added risk for the game itself.
✦ #Dappchains are independent blockchains or sidechains for such specific applications.
✦ #Dappchains are independent blockchains or sidechains for such specific applications.
The #dappchains could be built with the same development tools as the primary chain and share cross-chain and security features within the ecosystem of the primary chain.
＝ #Dappchains run parallel to a mainchain, created to host its #Dapp with added utility and capabilities.
In Ethereum's case, a dappchain would be built on top of a rollup-centric L2.
✦ Its rules are customized based on necessity.
In Ethereum's case, a dappchain would be built on top of a rollup-centric L2.
✦ Its rules are customized based on necessity.
Currently, #Dapps that have successfully transitioned from on-chain eco-applications to proprietary blockchains include:
💠 #DeFiKingdoms
💠 #dydx
💠 #AxieInfinity
The latter two are on #Layer2.
💠 #DeFiKingdoms
💠 #dydx
💠 #AxieInfinity
The latter two are on #Layer2.
It is not a technical difficulty for a Dapp to build a "proprietary" chain.
Most L1 chains could provide the foundation, such as #Cosmos Zones, #Polkadot Parachains #Ethereum L2s, #Polygon Supernets, #Avalanche, ++.
However, a #dappchain is constrained by certain conditions:
⬇️
Most L1 chains could provide the foundation, such as #Cosmos Zones, #Polkadot Parachains #Ethereum L2s, #Polygon Supernets, #Avalanche, ++.
However, a #dappchain is constrained by certain conditions:
⬇️
🔐 Security.
It is great for Dapp-specific chains to share security. The more security that is shared, the more security there actually is. (Decentralization).
If a #dappchain is a sidechain, it would add cost and maintenance to its security.
It is great for Dapp-specific chains to share security. The more security that is shared, the more security there actually is. (Decentralization).
If a #dappchain is a sidechain, it would add cost and maintenance to its security.
Without improvements to node decentralization and security, it is not smart for a #dappchain to be its sidechain.
Because of this, #dappchains should be focused on rollup and share security but not scalability.
Because of this, #dappchains should be focused on rollup and share security but not scalability.
🌐 Imagine thousands of #dappchains, all having their rollup-centric scalability but sharing the security of the foundation blockchain.
That is very cool.
That is very cool.
#Dappchains bring added features to the competitive landscape of multi-chain networks.
For #dappchains to be built securely, various chains must provide better cross-chain capability and shared security support.
For #dappchains to be built securely, various chains must provide better cross-chain capability and shared security support.
Did you enjoy this thread on #Dappchains?
No AI was used to cheat my way to provide valuable info, strictly research. 🔎
@CryptoBlooom
No AI was used to cheat my way to provide valuable info, strictly research. 🔎
@CryptoBlooom
https://twitter.com/CryptoBlooom/status/1618935839064735745
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