Hyperledger Foundation’s Post

Splice, a new Hyperledger Lab project for Canton Network interoperability! #blockchain #hyperledger #interoperability Hyperledger Foundation The Linux Foundation Canton Network Digital Asset

🎉🏆 We're thrilled to announce a major achievement! A huge shoutout to #ENSDAO for awarding us a generous 30k USDC in the Term 3 Ecosystem Grant. 🙏💸 We're incredibly grateful for their support and belief in our project! This grant will fuel our ongoing development of the Optimism Foundation CCIP Resolver. 👇 Here's what you need to know: 🔹 Problem: Using ENS Labs Ltd on Layer 1 requires users to pay high mainnet transaction fees, limiting its accessibility. To address this, we aim to extend ENS capabilities by migrating resolver contracts to Optimism, leveraging its low transaction costs, and unlocking new use cases. 🔍 Existing Solutions: ERC-3668 defines how data can be retrieved from data sources other than Ethereum mainnet. While conventional database solutions exist, they lack full web3 values like censorship resistance and decentralization. Our Optimism Bedrock CCIP resolver overcomes these limitations, offering a trustless and decentralized alternative. 🔧 Components of our Resolver Framework: 📌 Smart Contract L1: 🔹 OptimismResolver: Entry point to the Resolver deployed on Ethereum L1, implementing the ERC-3668 standard and returning the gateway URL. 🔹 Bedrock CCIP Response Verifier: Proves that requested data is part of a specific L2 contract, like the L2PublicResolver deployed on Optimism. 🔹 Bedrock Proof Verifier: Handles Optimism Bedrock Merkle proofs, ensuring the data's inclusion in the storage root. 📌 Smart Contract L2: 🔹 L2 Public Resolver: Implements the existing Public Resolver with a separate "context" layer for authorization-free record alteration on L2. 📌 Gateway Service: 🔹 CCIP Gateway: Handles requests and computes Merkle-Proofs for requested data, supporting all ENS Resolver Profiles in Layer2Public Resolver. 🔹 ProofService: Computes proofs of arbitrary storage slots in Optimism Bedrock. 🔹 ENSService: Calculates the slot position of the Proof Service. 📈 What's next: We have accomplished the development of each component mentioned above and added metadata support and events for better indexing. Our future plans include conducting audits of the smart contracts, deploying them for production, implementing wildcard subdomains, and defining a decentralized approach for gateways. 🔗 Join us on this journey towards seamless ENS scalability! #Ethereum #Blockchain #Decentralization #Trustless #Web3 #ScalingTechnology #Crypto #Innovation #Technology #BlockchainSolutions

Day 7: The Network Nervous System: ICP’s Democratic Backbone 🌐 If you’ve been in crypto for a while, you know about the various hard forks like Bitcoin (BTC) into Bitcoin Cash (BCH), and Ethereum’s split into Ethereum Classic (ETC) and Ethereum 2.0. These were due to community disputes. The Internet Computer leverages the NNS to prevent such divisive events. The NNS, a decentralized autonomous organization (DAO), allows ICP token holders to propose, vote on, and seamlessly integrate changes into the network. This avoids hard forks and enables rapid iteration and continuous improvement. With thousands of participants and approximately ten billion dollars staked, it represents a large-scale, community-driven approach to blockchain governance. The NNS also implements advanced liquid democracy, allowing participants to delegate their voting power. How it Works The NNS empowers ICP token holders to participate in governance by locking their tokens in neurons. This allows them to vote on crucial decisions, such as adding new nodes (subnets) to the network. The NNS manages: 🔹 Approving data center providers 🔹 Assigning nodes to subnets 🔹 Upgrading protocol versions and system canisters Adopted proposals are automatically executed, ensuring seamless decision-making. Unique Advantages 🔹 Democratic Governance: Unlike Bitcoin or Ethereum, where only nodes influence upgrades, the Internet Computer gives control to both token holders and node providers. 🔹 Seamless Upgrades: Community-driven evolution without disruptive hard forks avoids splits and allows smooth development. 🔹 Rapid Iteration: In 2021 alone, the Internet Computer underwent dozens of updates, showcasing its ability to evolve rapidly. 🔹 Prevention of Hard Forks: The NNS prevents hard forks. Starting a new Internet Computer would be nearly impossible without replicating the NNS network. Building a Decentralized Future The Internet Computer allows developers to build new web3 services and rebuild traditional systems using advanced smart contracts without relying on traditional IT infrastructure. Open internet services and autonomous software can also have tokenized governance systems, ensuring self-regulation. With its democratic and inclusive governance model, the Internet Computer stands out as a blockchain truly controlled by its community. #10DaysOfICP #InternetComputerProtocol #Dfinity #ICP #Blockchain #Governance #Decentralization #Web3 #TechInnovation #Day7 #10DaysOfBlockchainAwesomeness

Ethereum update Dencun The core Ethereum development team has recently made a significant stride in the evolution of the Ethereum network by deploying the Dencun update on the Goerli testnet. This update serves as a precursor to the anticipated mainnet launch and introduces proto-dunksharding (EIP-4844) to the Ethereum ecosystem. In order to ensure a smooth transition to the mainnet, the development team opted for a phased approach, initially implementing the update on various test networks. This cautious and meticulous strategy is aimed at identifying and addressing any potential issues before the update is rolled out on the mainnet. The highlight of the Dencun deployment on the Goerli testnet is the incorporation of EIP-4844, which introduces a novel transaction mechanism called ephemeral blobs or proto-danksharding. This innovative approach enables data to be temporarily stored and accessed off-chain of Ethereum nodes, thereby reducing the storage requirements of the network. As a result, this update is expected to significantly lower transaction costs for Ethereum decentralized applications, particularly benefiting Layer 2 federated chains. Overall, the deployment of the Dencun update on the Goerli testnet marks a pivotal moment in the ongoing development of the Ethereum network. The introduction of proto-dunksharding is poised to enhance the scalability and efficiency of the Ethereum blockchain, laying the groundwork for a more robust and cost-effective decentralized ecosystem. With this significant milestone achieved, the Ethereum community eagerly anticipates the forthcoming mainnet launch of this groundbreaking update. #ethereum #smartcontracts #blockchainsecurity #auditfirst

📺Watch below how Meson a bridge between #solana and #ethereum -compatible networks (EVM) works. 🔵 Interoperability is one of the problems faced by decentralized networks (Blockchain). 🔵 For this reason, different networks specialized in interoperability between ecosystems' networks have been created, such as #cosmos Hub or #polkadot. 🔵 Another proposed solution is bridges between networks that lock assets in one network and transfer them to another either wrapped or unwrapped. 🔵 #DeFi applications of bridges were the most attacked in recent years, causing significant losses in the ecosystem, where bridges like #ronin, Poly Network, #bnb Bridge, Wormhole, Mixim, Nomad, Multichain, and Harmony represented $2.763 billion. 🔵 It's imperative to choose the right bridge to transfer assets from one network to another. Some considerations you should keep in mind: 1️⃣ Be careful with multisig wallets that custody assets. 2️⃣ Be cautious with bridges that lock tokens in the original network and mint tokens in the destination network. Ideally, choose bridges with liquidity in both networks, locking in the original and unlocking in the destination network. 3️⃣ Messaging systems working off-chain and communicating which assets need to be locked and unlocked, like what Axelar uses, can be a good solution. 🔵 This bridge in the video uses relayers. The relayer receives the initial exchange request and exchange release data performs basic checks, and transmits it to LP services for further processing. It behaves similarly to the P2P network of #bitcoin or Ethereum blockchains. 🔵 Disclaimer conduct your research before using any bridge between networks. We don't recommend the bridge in the video, although we've used it assuming the risks and with small amounts.

Seda co-founders discuss intersection of oracles and multichain The year 2022 was not a very good year for Cosmos and its vision of inter-blockchain communications (IBC). The collapse of the Terra Luna ecosystem (the biggest protocol on Cosmos at the time), tension between co-founders and a fall in the token’s price all cast a shadow on its future prospects. That said, projects such as dYdX and cross-chain oracle protocol Seda continue to call the network home and are adamant about its IBC vision. Read more: https://lnkd.in/dv_zfSvy

🌐 ZkSync: Scaling Ethereum with ZK Rollups 📈 🤔 Ethereum is the foundation of many cool crypto innovations, but it can get congested and expensive to use. ⚡️ Enter Layer 2 solutions like ZkSync! This powerful protocol uses ZK Rollups to bring faster, cheaper transactions to Ethereum, all while maintaining security. 👀 Want to learn more about ZkSync and its potential to revolutionize scalability? Let's chat! https://lnkd.in/gvkrZMjT

Upgradeable, Scalable, Unstoppable: The Diamond Standard 💎 The Ethereum ecosystem's complexity often poses challenges for smart contract upgrades and modularisation. The Diamond Standard (EIP-2535) alleviates these hurdles, allowing for scalable, flexible, and upgradeable decentralised applications. What Are Diamonds? A Diamond is a sophisticated smart contract acting as a gateway for proxy calls to multiple implementation contracts. This architecture facilitates a range of functionalities without the traditional limitations. Key Features: 💎 Single Gateway: All calls route through the Diamond to various implementation contracts. 💎Atomic Upgrades: Enables the modification of multiple contracts simultaneously. 💎No Storage Limit: Unlimited addition of implementation contracts. 💎Upgrade History: Logs all changes for transparency. 💎Gas Efficiency: Minimises external function calls, reducing gas costs. Core Components: 💎DiamondCut: Facilitates adding, replacing, or removing functions. 💎DiamondStorage: Holds state variables, shared across all facets. 💎Standard Functions: Offer insights into internal operations and upgrades. Types of Diamonds 💎Upgradeable: Continuously modifiable. 💎Finished: Immutable after removing the upgradeability feature. 💎Single Cut: Immutable and non-upgradeable thereafter. Bypassing the 24KB Byte Code Limit: Ethereum's 24KB byte code size limit is a significant constraint. Diamonds circumvent this by splitting logic across multiple smaller contracts, each managed by the Diamond, thus allowing an application to stay under the limit. Advantages Over Traditional Proxy Patterns: Proxy contracts typically rely on a single implementation contract, limiting modularity and posing risks of storage collisions. Diamonds offer a more robust and transparent framework, making them a better choice for complex decentralised applications. For a deeper dive, refer to the official EIP-2535 documentation. #ethereum #smartcontracts #blockchain #web3development

What problem does Cambrian solve? The continued evolution of web3. At the moment, the modules and projects that are deployed on top of Solana and stack-based around SVM rely only on their own security and consequently rely on their own trust networks. Protocol devs and architects are the first to see problems that will only become apparent to the community in a few years. This is why recently huge resources have been invested in L2 on EVM - it was assumed that this approach would solve the problem of security inheritance. But in the end it also seems to be a evolution cul-de-sac, the development goes towards increasing L3, L4. And these layers require their own security to decentralise sequencers for example. The crypto industry was trapped in a loop from which there seemed to be no way out. Hence, Cambrian advocates for an evolutionary approach rather than a revolutionary one. This entails leveraging existing resources to create new primitives instead of developing new basic levels (blockchains), which proliferated extensively between 2018 and 2022. With the advancement of restaking, the ecosystem around Solana and Web3 will be fed and given new resources for expansion. This will be catalyst for new products and technologies that were previously unattainable due to the limitations in security and functionality.