Space and Time’s Post

In June, Mysten Labs announced #Walrus, a new decentralized secure blob store design, and introduced a developer preview that currently stores over 12TiB of data. Walrus will become an independent decentralized network with its own utility token, WAL, that will play a key role in the operation and governance of the network. Walrus will be operated by storage nodes through a delegated proof-of-stake mechanism using the WAL token. An independent Walrus foundation will encourage the advancement and adoption of Walrus, and support its community of users and developers. Last week, Mysten Labs published the Walrus whitepaper that offers additional details, including: 🔹 The encoding scheme and Read / Write operations Walrus uses to ensure both security and efficient scaling to 100s and 1000s of storage nodes, including interactions with the Sui blockchain which serves as a coordination layer for Walrus’ operations. 🔹 The reconfiguration of storage nodes across epochs, and how the protocol ensures available blobs on Walrus remain available over long periods of time. 🔹 The tokenomics of Walrus based on the WAL token, including how staking and staking rewards are structured, how pricing and payments for storage are handled and distributed in each epoch, and the governance of key system parameters. 🔹 Forward-looking design options, such as a cheap mechanism to challenge and audit storage nodes, options for ensuring reads with a higher service quality, possibly against a payment, and designs that empower light nodes to meaningfully contribute to the protocol’s robustness, serve reads, and be rewarded. 🔹 The whitepaper focuses on the steady-state design aspects of Walrus. Further details about the project, such as timelines, opportunities for community participation, how to join the network as a storage node, and plans around light nodes, will be shared when they become available.

Data availability explained in simple words 👇 Part 1: Understanding the DA problem for monolithic blockchains ➡️ Before we get into the problem, let's go over some basics: - Monolithic Blockchains: These blockchains, like Ethereum, manage consensus, data availability, and transaction execution all in one layer. - Full Nodes: These nodes download, store, and verify the entire blockchain. They are used to send transactions and write to the blockchain. - Light Nodes: Light nodes download only block headers and rely on full nodes for data accuracy. They are essential for quick read access. ➡️  So whats the problem exactly? “How can we be sure that the accurate data required to recreate the current state of the blockchain is available?” The "state" includes balances of accounts, storage values of smart contracts, and transaction history. ➡️ Why its a problem? Without ensuring data availability, potential malicious nodes can deceive the network about transaction validity, especially targeting light nodes that do not re-execute blocks. ➡️ How does Ethereum address this? Ethereum requires full nodes to download each block. When a new block is proposed, full nodes re-execute the transactions and verify the state by recreating the Merkle root for both the current state and the new block. "Don't trust, verify." ➡️ Downsides This method makes the network slow. Asking all nodes to download every block and re-execute transactions limits the blockchain’s throughput and scalability. ➡️ Solution Increasing Block Space: While increasing block space seems a straightforward solution, it raises the cost of running full nodes, reducing decentralization as fewer participants can afford the necessary hardware. This risks turning Ethereum into infrastructure run by large compute companies, making it similar to centralized services like AWS or GCP. ➡️ Hence the Rollups! Rollups were proposed to address these challenges. They process transactions off-chain and post the results on-chain, alleviating the data bloat on the main Ethereum chain. However, rollups introduce their own version of the data availability problem. Stay tuned for Part 2, where we will try to understand the problem of DA from the perspective of the rollups.

How can we prove the state of private blockchains (or legacy systems) to public blockchains without loss of privacy? This is not an easy challenge, and right away eliminates a few conventional techniques for interop: light clients and hash time lock contracts do not work because they do not have access to the state; external validation (e.g., SATP, committees) work, but rely on their attestation (possibly with a stronger guarantee/proof). Techniques such as the ones in "Verifiable Observation of Permissioned Ledgers" from Ramakrishna V and colleagues alleviate this problem. However, finding malicious behavior and doing audits could be tricky as it requires at least an honest party (for safety) and a trusted third-party (for audits). Very interesting work, "Leveraging Zero-Knowledge Proofs for Blockchain Interoperability: Experiences with Ethereum and Hyperledger Fabric," from Guzman Llambias and colleagues, reflects on this problem: https://lnkd.in/eBFkdMsy This paper dives into the usage of zero-knowledge proofs for interoperability with private chains. The paper studies two use cases, and I'd like to emphasize cross-chain authentication. This use case has as a central idea the usage of zero-knowledge proofs generated by a non-interactive protocol to perform authentication of transactions in the direction public -> private chain (the certificate authority from the private chains needs to generate a credential such that the end-user can generate proofs of knowledge of such credential; i.e., the certificate authority implements an anonymous credential system). When a transaction is issued, a Fabric component verifies the request and the proof. While costly and slow, recent developments are speeding up the usage of zero-knowledge in interoperability. The usage of this technology could eliminate the need for the honest party assumption (however, without at least one honest party, we would sacrificing liveness). It could also make private audits automatized by generating a zero-knowledge proof of compliance that is verified outside the private chain. The future is promising, and I believe that the integration of zero-knowledge technology with compliance-first protocols such as SATP will drive new solutions that are cost-effective, secure, and decentralized.

Celestia aims to surpass Ethereum in the storage space According to Blockworks Research, Celestia, a Tier 1 data availability network, is poised to take the top spot in online data storage currently held by Ethereum. According to the data, Celestia has been steadily increasing Ethereum's market share since May 1, starting at about 20% and increasing to about 40% as of July 31. Celestia, launching in 2023, describes itself as "a modular data availability network that allows any user to easily and securely run their own blockchain." Its emphasis on data availability puts it in competition with Ethereum, the leading tier of Web3 settlement. Ethereum's March upgrade Dencun introduced "blobs" - temporary off-network data stores that are designed to reduce the scaling costs of Tier 2 networks such as Arbitrum and Base by eliminating the need to host large amounts of data directly on the network. Large binaries are stored on Beacon Chain nodes for approximately two weeks, giving validators time to confirm the accuracy of the data and publish it to the main network. Despite the cost savings, which Ethereum creator Vitalik Buterin predicts will exceed 98%, storing data on Celestia is typically even cheaper, according to a report by Staking Platform Figment. According to the report, "transaction fees vary on both networks, with Ethereum often having higher fees due to the complexity of interacting with smart contracts." The report further states: "Celestia tends to offer lower fees due to its efficient modular architecture designed to support high throughput and reduce congestion." Celestia is not Ethereum's only competitor in terms of data availability. In April, EigenLayer launched its own data availability service, EigenDA. In July, it launched Avail, a data availability protocol that was built on top of Polygon. According to Blockworks data analytics manager Dan Smith, even if competitors displace it from its leadership position in data storage, Ethereum will remain the undisputed Web3 payment medium for the foreseeable future. "Ethereum remains dominant in decentralization, stability, and TVL, which is essential for the settlement layer," Smith said in a post on X.

Yes, I understood your question about having two DAG systems within one network. Integrating two DAG systems within a single network could potentially offer benefits such as increased scalability, redundancy, and interoperability. Here's how a simulated blockchain could facilitate the creation of such a hybrid network with two DAG systems: Simulated Blockchain as Backbone: The simulated blockchain would serve as the backbone or intermediary layer connecting the two DAG systems. It would provide the underlying infrastructure for transaction validation, consensus, and data storage, while the DAG systems would handle transaction processing and validation within their respective structures. Separate DAG Structures: Each DAG system within the network would maintain its own DAG structure, consisting of transactions and references to previous transactions. These DAG structures could operate independently, with each system processing and validating transactions within its own network. Inter-DAG Transactions: The simulated blockchain would enable transactions and data to be transferred between the two DAG systems. Transactions originating from one DAG system could be recorded on the simulated blockchain and then confirmed and finalized by the other DAG system, enabling interoperability and cross-network transactions. Consensus Integration: The consensus mechanisms of the two DAG systems could be integrated with the simulated blockchain to ensure transaction finality and security across the entire network. The simulated blockchain would facilitate coordination and agreement between the two DAG systems, ensuring that transactions are confirmed and recorded consistently. Enhanced Redundancy and Resilience: Having two DAG systems within one network would provide redundancy and resilience against network failures or attacks. If one DAG system experiences issues, transactions could still be processed and validated by the other system, maintaining network availability and reliability. Overall, integrating two DAG systems within a single network using a simulated blockchain could offer a powerful solution for achieving scalability, interoperability, and resilience in decentralized systems. This hybrid approach would leverage the strengths of both DAG and blockchain technologies while mitigating their respective limitations, creating a more robust and versatile decentralized network.

Embarking on Web3, IT auditors played a vital role in ensuring order and security. Web3 standards act as the rulebook, guiding us through the decentralized maze of technology. They're like the guardrails, ensuring everything works smoothly and securely together. From how different systems agree with each other to keeping our digital identities safe, these standards are the unsung heroes behind the scenes. In this ever-evolving space, understanding and following Web3 standards are our compass, ensuring a safe and trustworthy journey 1.ISO/TC 307 Blockchain and Distributed Ledger Technologies: The Backbone of Trust: ISO/TC 307 focuses on standardizing the core concepts of blockchain and distributed ledger technologies. From consensus mechanisms to interoperability, this standard provides a comprehensive framework for building secure and transparent decentralized systems. 2.ISO 22739 Decentralized Identity: Empowering Users: In the era of self-sovereign identity, ISO 22739 sets standards for decentralized identity systems. It addresses privacy concerns and establishes guidelines for secure identity management in the Web3 space. 3.ISO 22740 Tokenization: Building Blocks of Value: ISO 22740 outlines standards for tokenization, a fundamental aspect of Web3 projects. Whether it's cryptocurrencies, non-fungible tokens (NFTs), or tokenized assets, this standard ensures a common foundation for representing and exchanging value on blockchain networks. 4.ISO/TS 23676 Decentralized Systems Interoperability: Bridging Chains: Interoperability is key to the success of decentralized systems. ISO/TS 23676 provides technical specifications for achieving seamless communication and collaboration between different blockchain networks, fostering a more connected Web3 ecosystem. 5.ISO/TS 23648 Smart Contracts: Code You Can Trust: Smart contracts are the building blocks of decentralized applications. ISO/TS 23648 establishes standards for the secure development and execution of smart contracts, reducing vulnerabilities and ensuring the reliability of code-based agreements. 6.ISO 22746 Cryptographic Token Taxonomy: Defining Digital Assets: With the multitude of tokens in the Web3 space, ISO 22746 introduces a standardized taxonomy for cryptographic tokens. This classification system aids in understanding and categorizing digital assets, promoting clarity and consistency in the token landscape. Embracing these ISO standards is not just a matter of compliance; it's a proactive step toward fostering innovation, trust, and security in the decentralized realm. As we witness the transformative power of Web3 technologies, adherence to these standards becomes a collective responsibility. #web3security #itauditor #decentralization #isostandards #digitalidentity #trustintech #compliance #techinnovation2023 #cybersecurity #governance

The Elastic Chain is a new paradigm for builders: every ZK Chain that joins increase the usefulness of all protocols and all other chains This is because its apps are immediately usable by everyone WHILE being highly optimised for their use cases Where ZK Rollups overcame the blockchain trilemma, the Elastic Chain overcomes the trilemma between - interoperability - control/sovereignty - security https://lnkd.in/dGMk_E26 Do you want to add social features to your app or engage with users on a social platform? You can compose with Lens https://lnkd.in/duHXAayp Do you want to add gaming features? You can work with zkCandy https://lnkd.in/djCieSkW Do you need Self-Sovereign Identity primitives? Quark ID got you covered https://lnkd.in/diDYP_SA Do you need swapping? Just send a transaction from any ZK Chain in the Elastic Chain to GRVT https://lnkd.in/diavWg7a What to participate in entertainment? Interacting with users, creators, apps and assets on Sophon is 1 signature away https://lnkd.in/dX7m_tEN Need high performance verification of offchain compute? AI? SQL? Blockchain states? All available on the Elastic Chain via Space and Time https://lnkd.in/dZNkgeUp Want to play one the many games XPLA is about to deploy? Or leverage their gaming tooling? 1 click away if you live anywhere in the Elastic Chain https://lnkd.in/dirumaQB Want to participate in the new consumer crypto economy? Your users will be able to participate in Abstract Chain culture seamlessly https://lnkd.in/d8sNZaKh Who will not need more digital trust in the years to come? Nodle got you covered https://lnkd.in/d8Ybj8H3 Do you want to access traditional financial markets? Memento Blockchain is building exactly that https://lnkd.in/dxgNFVc6 Want to reach the huge number of users on Cronos or leverage their DeFi, NFTs, Games and Metaverse ecosystem? 1 click away https://lnkd.in/dVBJuCXY Do you want to enable web3 features for games, streams, sports? Do you need to turn content into real-time data? PlayFi Labs is on the Elastic Chain https://lnkd.in/d_Bidzbe Want to use Zerion's expertise and tooling to make x-chain functionalities smooth like silk? Zero Network is a ZK Chain on the Elastic Chain https://lnkd.in/duPXqdGb Einstein is rumoured to have said that compound interest is the strongest force in the universe It's because he didn't know about Composability! With this network of primitives the Elastic Chain enables new and wonderful applications and protocols that are not possible today Which one? We don't know! But they will be powerful and will trust only math

Difference Between ZK Rollup and Optimistic Rollup The main downside to optimistic rollups compared to zero knowledge rollups is the time that it takes for layer 2 users to be able to withdraw their funds back to the underlying blockchain. As an optimistic rollup has to rely on external validators to check the merkle roots for ‘cheating’ before the state can be updated, there needs to be a sufficient amount of time for validators to check and challenge the activity that has happened on layer 2. The main advantage to optimistic rollups compared to their zero knowledge equivalents is that they are more generalist and can support smart contracts in a similar way to the underlying smart contract-enabled blockchain. Native support for smart contracts within the rollup means that apps can be launched much easier, without the need for additional development. Types of Optimistic Rollups Optimistic rollups are not a single protocol but a class of protocols sharing common features and design choices, including: —> Execution Model EVM-compatible rollups use the Ethereum Virtual Machine (EVM) as the base layer, allowing them to run any smart contract that runs on Ethereum without modification. EVM-equivalent rollups use a functionally equivalent virtual machine, enabling them to run most Ethereum smart contracts with minor changes. EVM-compatible rollups include Optimism and Arbitrum, while EVM-equivalent rollups include Boba Network and zkSync 2.0. —> Data Availability Solution Decentralized data availability solutions use a peer-to-peer network or a decentralized storage network (e.g., IPFS) to store and distribute full-block data. Centralized data availability solutions use a single server or a trusted third party to store and provide full-block data. Decentralized solutions are more secure and censorship-resistant but more expensive and complex. Centralized solutions are cheaper and simpler but more vulnerable and trust-dependent. Examples of rollups with decentralized data availability include Optimism and Arbitrum, while those with centralized data availability include Boba Network and zkSync 2.0. —> Fraud Proof Mechanism Interactive fraud-proof mechanisms require a challenge-response game between the sequencer and validators to verify a block's validity. Non-interactive fraud proof mechanisms utilize cryptographic proofs or witnesses to verify a block's validity without any interaction. Where interactive fraud-proof mechanisms are more flexible and general but more costly and time-consuming, non-interactive mechanisms are more efficient and fast but more restrictive and specialized. Examples of rollups with interactive fraud-proof mechanisms are Optimism and Arbitrum, while non-interactive fraud-proof mechanisms can be found in Boba Network and zkSync 2.0. . . . . . . follow for more. 🚀🚀 #Bitcoin #Blockchain #XRP #Financial-Analyst #Cryptocurrency #Investor #Trader #NFT #Metaverse #Web3.0 @skyrizvi_official (SKY Crypto India Team)

Yesterday, NodeOps revealed our litepaper (https://lnkd.in/eu_UsDps) to the crypto community. The litepaper introduces our new offering, Atlas (why Atlas? Read on to find out). It also provides a glimpse into what it is and why we are building it. As a node infrastructure provider for blockchains and protocols, NodeOps has been serving the Web3 ecosystem for over a year. Since its inception, it has deployed over 34,000 nodes for various projects, including AI protocols, gaming, DePIN, data availability, etc. It also has over $40 million in assets under management. During this time, we have seen a lot of growth and interest in the Web3 space, particularly in infrastructure. The advent of new chains, rollups, DA layers, and app chains has spurned a huge amount of activity in the space, thanks in part to innovations like EigenLayer, which allow the reuse of Ethereum, arguably the most decentralized and crypto-economically secured layer 1 blockchain. As someone in the business of simplifying and making node infrastructure provisioning user-friendly, NodeOps saw that this rise in activity also brings certain challenges, especially when it comes to the question of decentralization and economic security of nodes deployed using our platform and others. So came the idea of creating a product that would meet these challenges head-on and support the growing infrastructure and economic security demands for the entire ecosystem of Web3 chains and protocols, hence the name Atlas. With Atlas, NodeOps will transform from providing node infrastructure to a unified, one-stop marketplace for all node infrastructure and economic security requirements for Web3 projects. Atlas is also our step towards becoming an open, permissionless, and more decentralized protocol and service provider. As a marketplace, we will empower our community to collectively act on the demand for infrastructure and economic security. From the supply side, thanks to our AVS on EigenLayer, we will now have a more diverse mix of centralized and decentralized node infrastructure providers. And to put a cherry on top of this cake, all the stakeholders involved in the marketplace will be incentivized by a sustainable value-capture and distribution engine. As envisioned in the lite paper, Atlas and the future of NodeOps will bring about a paradigm shift within the infrastructure provisioning space and act as a model for other providers to emulate. Looking forward to your feedback. Thank You. 

Reintroducing Mina: Building an Internet of (True) Things with a ‘Proof of Everything’ A fresh upgrade deserves a fresh introduction, right? From the start, Mina Protocol set out to do things differently. The mainnet launch in 2021 introduced a brand new lightweight blockchain architecture that eliminates bloat, ensuring low operating costs and paving the way for unprecedented decentralization at scale. This was all thanks to a breakthrough in zero knowledge cryptography: a blockchain with its entire state inside a tiny proof of just a few kilobytes, that anyone could download and verify in milliseconds. Now, the recent Berkeley upgrade extends these revolutionary ZK features to real-world applications. It empowers developers to build off-chain and verify on-chain for scale, customizability, cost-efficiency, and optional privacy. Moreover, this upgrade positions Mina Protocol as a global composable database of verified statements that can seamlessly interact with one another— a ‘Proof of Everything.’ Beyond attesting to individual statements of facts, Mina’s true potential will be realized by those who use it to harness the power of massive collaborative computation. This is a new design paradigm— unlocked by Mina Protocol’s single recursive proof. What will you build? Read more from Mina Protocol Co-founder Evan Shapiro and Mina Foundation CEO Kurt Hemecker here: https://lnkd.in/gesuXYxK