Even better: devs were able to implement most desired functionality through a smart contract, instead of at Ethereum protocol level, accelerating the roadmap 🚀
ZK-fever is spreading in the #blockchain community!
Let's catch you up on the latest developments in this blooming #ZKrollups ecosystem 🔥
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1/ Do you struggle with high gas fees & slow tx times on #Ethereum?
Fear not, because Ethereum CAN and is scaling up!
Instead of doing all tx by itself, Ethereum now has a blossoming #L2 ecosystem of fast & inexpensive off-chain execution environments to ramp up users. 📈
2/ Popular L2s, like #ZKrollups, use zero-knowledge proofs (ZKP) to verify tx off-chain, allowing faster processing while keeping data secure.
ZKP uses cryptography to prove a statement w/o revealing extra info, which strengthens security & privacy in blockchain.
Not long ago, the only approach to building #blockchains was a monolithic design where a single blockchain did EVERYTHING:
block creation, consensus, data storage, and smart contract execution...
This led to a blockchain trilemma.
Enter modular blockchains 🔦
1/ In a monolithic blockchain, a single layer handles all 3 core functions: execution, consensus & data availability.
This approach poses a scalability trilemma.
(Note: Thanks to rollups & sharding, Ethereum 2.0 will be a modular blockchain.)
2/ Modular blockchains are set to bring a paradigm shift to blockchain design by breaking down blockchain networks into several pieces.
⬇️
They outsource one of the core responsibilities above and only specialize in Execution / Consensus / Data Availability.
You'll have a whole weekend to build on top of Blokness' tools! From creating an NFT tax software to building an NFT loyalty program, the sky’s the limit🌈
The hackathon takes place at #Polkastarter new office in #Lisbon – and you can also join remotely 🌎
The MCap of top 8 gaming companies was worth ~$200 billion in May 2022.
6 of them are establishing their #web3 teams. The opportunities are real. And we're very early.
So, in the coming days, how should you evaluate a #gamefi project?
Learn this concept: GameFi Trilemma 🧵👇
The #GameFi trilemma is composed of ● playability
● profitability
● accessibility.
The problem arises when games only can optimize two components at any given time.
Eg.
Web 2.0 games give up profitability for players.
Most Web 3.0 games have given up accessibility by charging a hefty price for NFTs.
And for each component in the trilemma, there are existing problems and we'd like to highlight some potential solutions. 💡