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@ HaCKBee
2024-01-05 05:44:53HaCKBee Digest 2024/01/05
Shaping Nervos' Future: Latest Highlights on Nervos Talk
DAO Proposal | Spore Proposal Mainnet Launch Sponsorship
The Spore team, comprising CKB Layer 1 engineers, has proposed the Spore Protocol CKB mainnet launch on Nervos Talk.
- Spore Protocol leverages the CKB network to redefine NFT standards;
- A budget of 507,364 CKBytes has been proposed to fund the mainnet deployment of the Spore Protocol, divided into three phases.
- Garnering over 50 likes, the proposal is progressing towards the voting stage.
ERC 721 v.s. Ordinal v.s. Spore
DAO Proposal｜Build and Distribute Efficient Network Nodes
Another exciting proposal comes from Phillip Dos Santos. The plan is to build and distribute 50 small, efficient, and cost-effective CKB nodes, to strengthen the decentralization of the CKB network. It involves investing in 50 Orange Pi 3b, each unit costs $165, amounting to a total of $8250 USD.
Discussion｜The Potential of CKB-Based Stablecoins
Totop expressed his vision for the future: the ideal web3 stablecoin should be built on CKB. He argued that a CKB-based stablecoin has the potential to be a promising stablecoin option for web3. This stems from the innate alignment between the decentralized nature of the CKB network and the values of web3 and decentralized finance. Stablecoins built on the CKB network naturally inherit traits such as security, stability, censorship resistance, low fees, and global accessibility.
HaCKBee Dev-Talk #1 Lorimer Jenkins Highlights
The notes summarize the engaging discussion on Web3 Storage & OAuth , with guest Lorimer Jenkins, protocol engineer at CommunityLabs.
Topics covered: - Arweave & IPFS for permanent file storage - Google login tradeoffs vs decentralization - Othent KMS for decentralized identity and authentication
and more...
🎥 Full video on YouTube 👨💻 TLDR on Twitter/X 📑 Highlights bullet-list
New Project | Omiga Inscription Protocol
The first inscription project on CKB, Omiga Inscription Protocol, has launched its beta version.
By building on top of CKB, Omiga inherits the unique PoW and extended UTXO design, allowing the implementation of a fully native inscription mechanism, faciliatating complete on-chain verification. Meanwhile, Omiga can seamlessly integrate with other projects within the Nervos ecosystem.
Nervos Community Tidbits
Nervape | Podcast EP06: Zapped! with Nerdape and Piyo
The latest episode of the Nervape Podcast, Story 3 "Zapped!", is now available! Nervape writers, Nerdape and Piyo, engage in a fascinating conversation with friends from the community. They discuss the intriguing backstory of Nervape Story3 (Nervape Saga) and generously share their insights into the writing process.
JoyID | Updates & New Year Giveaway
- JoyID rolled out an update on December 18. Main features comprise direct Wallet Connect linking and multiple bug fixes to enhance the user experience, system integration, and security.
- Also, to kick off 2024, JoyID launched a .joy Domain New Year Limited-Time campaign, running from December 31 through January 2. The campaign features a giveaway of 200 .joy domain names. Users can participate by logging into QuestN via WalletConnect and connecting their X or Telegram.
JoyGift | Launch Celebration
The red envelope tool JoyGift, developed by the CKB Fans Chinese community team, has officially launched. Users can now use it to send and receive CKB, to share joy and good fortune with friends, communities, or fellow users.
Their proposal, "JoyGift Phase 1 Sponsorship Proposal", has now passed with 100% YASSS!🎉 Try out its demo now: https://joygift.cc/
Cryptape | Quantum-Resistant Lock Script + Future of NFT Tech
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The CKB Layer 1 team has developed quantum-resistant lock scripts using SPHINCS+ to safeguard against potential quantum attacks. In this article, CKB dev Han Zishuang comprehensively covers the design, optimization, and deployment of these on-chain scripts. Read now: Quantum Computation: New Challenge to CKB’s Security?
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Rongxin delivered a talk on future NFT technology trends at @ETHVenice. Watch the full video: Future of NFT Tech
Crypto Insights
Project｜Rune Alpha Mainnet Launch
Rune Alpha mainnet, a Bitcoin inscription project, has launched on January 3, Bitcoin's birthday. The market now supports $COOK, $PSBTS, $GROK, $X and more.
Project｜Bitcoin Stamps
Not only Ordinals, Bitcoin Stamps, a Bitcoin tokenization system, is gaining popularity. The anticipated launch date for Bitcoin Stamps is set for March 2023. Unlike Ordinals, Stamps are stored as multi-signature UTXOs on Bitcoin's base layer. While the creation comes with a higher cost, the permanence feature sets them apart.
Opinion｜CKB is an Ideal Bitcoin Layer2
It sees that CKB stands out as an ideal monetary L2 for Bitcoin, with the shared BTC value and philosophy, its enhanced UTXO model, strong security, and more.
Bitcoin Ad Trailer
VanEck, a global company with pending approval for a Bitcoin ETF, recently released a trailer named Born to Bitcoin. The promotional video is set in a fictional New York bar called Pubkey that caters for Bitcoin enthusiasts, filled with Bitcoin-themed elements. A "Lightning Koffee" sign, bags of "Bitcoiners Coffee," and a stack of Bitcoin Magazins.
The Controversy of Nostr Assets Protocol
On December 28, Nostr Assets Protocol tweeted its plan to donate $200K worth of tokens to Damus, a social dapp built on Nostr. Damus countered, claming it as a scam and accusing Nostr Assets Protocol of deceiving the public.
This follows earlier criticism from Nostr's founder, Fiatjaf, and his accusation against Nostr Assets Protocol. He asserted that the Nostr ecosystem has no official affiliation with the Nostr Assets protocol itself. He accused them of improperly using the Nostr name to imply an association with Nostr that does not exist.
Podcast｜Developer and Bitcoin
In a recent episode of the HashKey Capital podcast “Hash Out”, Bitcoin researcher Ajian provided valuable insights into common misconceptions about Bitcoin. Topics include the role of Bitcoin developers, on-chain activities. Ajian also dispelled misunderstandings related to Bitcoin Core and referenced the Nervos Cell model to illustrate the distinct nature of Bitcoin's unspent transaction output (UTXO) system, drawing comparisons with the account-based approaches employed by other blockchains.
📖 Top Reads on Blockchain
A Year Of Progress
In its annual year-end review, the leading Crypto VC Pantera Capital called the year 2023 as "a year of progress." While Bitcoin saw a downturn in 2022, mirroring the broader trend of tech firms, its remarkable performance in 2023 has outshone most businesses, including Tesla, Amazon, and PayPal. Pantera believes that the 2022 crypto fallout has bottomed out, culminating with the Binance vs SEC case.
Most significant developments in 2023 signaled positivity. Notably, institutions entered the crypto realm via ETFs, carving out a new way for traditional capital to flow into the "digital gold". The dominance of Ethereum L2, exemplified by platforms like Arbitrum, driving the Ethereum ecosystem's transactional growth, suggests a shift from "dial-up" to "broadband" for blockchains. Despite market recovery, Bitcoin remains at historical lows, signaling substantial potential for future growth.
Scaling and Anonymizing Bitcoin at Layer 1 With Client-Side Validation
The article proposes Prime, a new system to upgrade Bitcoin's first layer without requiring a soft fork. Prime is privacy-focused and scalable, leveraging client-side verification to allow for incremental deployment without needing majority miner support. Prime consists of timestamps, ephemeral proofs generated by miners, one-time sealed protocols to prevent double-spending, and smart contract systems like RGB to enable programmability and state.
The article outlines three potential deployment options for Prime: permissionless, fork-less miner activation, and a potential Bitcoin soft fork. It emphasizes that Prime can significantly enhance Bitcoin's capabilities as digital cash, by providing improved scalability, privacy, rich programmability, and better upgradeability. Prime extends a viable route to transform Bitcoin layer 1 into a more advanced framework, overcoming scalability and upgradeability limitations that Bitcoin is now experiencing.
State Diff and Account Abstraction
As the concept of Account Abstraction (AA) is gaining momentum, the noticable challenge of high call data cost comes to the forefront. This article sheds light on the concept of AA and its correlation with State Diff, an alternate method for sending data to the Base Layer. In comparison with Rollup, State Diff users only pay for functions that changes L2’s storage slot in L1, instead of paying for all transaction data.
To reduce gas fees, Clave Wallet employs three main solutions: 1) Integrate L2 execution fees via EIP-7212; 2) Use zkSync's state differentiation to decrease L1 call data costs for Secure Enclave-based signers; 3) Upgrade to Boojum and Shared Bridge to reduce gas costs associated with proof verification. The author indicates that the upcoming ZK Stack chain will further decrease Clave's verification expenses.
- Additional Reading on ZK Stack and Clave: A Beginner Guide For ZK Stack
- Also see Nervos’ strategy: Where we're going, we don't need Accounts: the Future of Onboarding
The Witness Discount: Why Some Bytes Are Cheaper Than Others
From the perspective of "incentive compatibility", the article introduces the key mechanisms and transformative upgrades of Bitcoin. Bitcoin has had three major optimization measures in terms of incentive compatibility: limiting block size; transferring the overhead caused by complex scripts from the transaction sender to the receiver (the actual user of the script) (P2SH); alignment data overhead for node operators and traders (SegWit). The author highlights Segregated Witness as Bitcoin’s boldest change to date and defends its key design — Segregated Witness data and its weight discount. The author concludes that although inscription data is one of the cheapest data for nodes to verify, it drives up handling fees and squeezes out other users.
Lessons on Points Programs for Crypto Apps
Integrating points programs into web3 applications has emerged as a growing trend, with the potential to boost user growth even amid the bear market. From Rainbow wallet to Blur's L2 Blast, points systems have successfully driven engagement and user retention rate, much like successful web2 loyalty programs in gaming, Sephora, and Starbucks.
In the crypto world, onchain implementation of points introduces new possibilities for builders and users, fostering the ecosystem growth. Meanwhile, interoperable points across multiple apps can streamline utility creation, and make points more enticing for users. Despite potential benefits, effective points programs require continuous experimentation, iteration, economic modeling, and meticulous tracking of key performance indicators. Developers, therefore, must balance rewards to avoid relying solely on external incentives for use retention.
- Additional Reading: The Barrier to Mainstream Crypto Adoption Isn’t UX — It’s Product-Market Fit