MT Capital · 13

IOSG Weekly Brief｜Detailed explanation of DA ecosystem and competitive landscape #232

This article is for learning and communication purposes only and does not constitute any investment advice. Please indicate the source for reprinting and contact the IOSG team for authorization and reprinting instructions. None of the projects mentioned in the article are recommendations or investment suggestions. Background Two years ago, at the beginning of the rise of the modular blockchain narrative, we wrote an article presenting our views and predictions on the Data Availability (Data Availability) circuit. As we anticipated, the modular blockchain narrative has prevailed and fueled infrastructure innovation, enhanced network interoperability, and promoted more collaboration and integration within the ecosystem, and various Rollup as a Service (RaaS) solutions (Altlayer, Caldera, Conduit, Gelato) have begun to emerge. The following figure shows the interface of the Rollup development tool Conduit, showing that deploying Rollup and selecting DA solutions has become extremely simple and convenient. Source: Conduit In the past two years, alternative DA solutions (Alt-DA) such as Celestia, Eigenda, Avail, and Nearda have developed significantly, each showing unique technical advantages and market share. At the same time, with the launch of Ethereum EIP-4844, the introduction of blobs to replace calldata greatly reduced the cost of using Rollup in Ethereum's native DA layer. Today, developers and project parties face more trade-offs when choosing a data availability layer. This article will track and analyze existing DA solutions, explore in depth their performance costs, technical characteristics and market performance, and present our views and thoughts on future DA circuit development. 1. The current DA solution's rollup, which uses Ethereum's native DA on-chain solution, mainly focuses on mainstream Layer 2 solutions that have been updated from CallData storage to suit BLOB, including Arbitrum, Optimism, and Base, as well as Starknet, zkSync, and Scroll. By using Ethereum as the DA layer, Rollup data is verified and stored by all Ethereum nodes, and benefits from Ethereum's security, degree of decentralization, continuity of protocol upgrades, and economic incentives. Comprehensive L2 occupies an important position in the Ethereum ecosystem, and requires the use of the above orthodoxy brought about by native DA as the core difference. (Vitalik believes that the core of Rollup is an unconditional security guarantee: you can take out your assets even if everyone is against you. (If data availability depends on an external system, this equivalent security cannot be obtained) However, publishing data to the Ethereum mainnet was associated with high costs, especially before EIP - 4844 (calldata cost was 16 gas per byte; in December 2023 alone, L2 spent more than 15,000 ETH on DA costs). As a result, various Alt-DA off-chain solutions have emerged, such as Celestia, Eigenda, and Avail, which is not yet online. Through various technical means, such as DAS, erasure codes, KZG promises, etc., the cost of data storage and transmission has been reduced. Among these, Celestia, as a modular blockchain dedicated to DA, has become the leading project on the DA circuit since the main network was launched in October 2023. The main target customers include projects requiring a modular architecture: cross-chain bridges, settlement layer solutions, defi projects, games, sequencers, and Layer 2 solutions not limited to the Ethereum ecosystem. Its current customers include Omnichain DEX protocol Orderly, modular L2 Manta Pacific tailored for EVM-native ZK applications, Base-based L3 Hokum, and DEX Lyra and Aevo, which focus on derivatives trading. As a DA layer pioneer in modular design that is not limited to a specific ecosystem, Celestia's advantages make it the first choice for many emerging Layer 2 projects. EigenDA was developed by EigenLabs and uses EigenLayer's restaking mechanism to provide an efficient, secure, and scalable DA service solution, inheriting to some extent the security of the Ethereum main network and a huge validator network. eiGenda focuses on providing high performance to the Ethereum ecosystem...

773d agoIOSG#IOSG

MT Capital Research Report: Decentralized Sequencer Track Disassembly Research

Author | Xinwei, Severin MT Capital Abstract1. As an emerging technology, decentralized sequencer aims to optimize the blockchain network's transaction sequencing process through a decentralized approach to improve transaction efficiency, reduce costs, and solve MEV problems. The development of this technology marks a further effort in the blockchain sector to pursue higher performance and greater decentralization. 2. Metis's “own store” model and Espresso's “outsourced module” approach show the two main paths for building and maintaining decentralized sequencers. The former emphasizes the security and stability of internal management and operations, while the latter provides more flexibility and openness, promotes technical versatility and reduces operational burden. 3. The development of decentralized sequencers heralds potential advancements in blockchain technology in cybersecurity, censorship resistance, transaction efficiency and cost, and ecosystem diversity and interoperability. Further optimizations and innovations in these technologies, such as batch processing and state channels, will improve the performance of the L2 platform, reduce user costs, and promote the formation of a more open and connected decentralized ecosystem. 4. Although decentralized sequencers face challenges such as technology implementation, network performance optimization, and governance model design, their key role in building a more efficient, secure, and open decentralized world should not be underestimated. Future developments will likely focus on studying more efficient consensus mechanisms, scalable network architectures, and developing user-friendly interfaces and tools to meet growing market demands and user expectations. Introduction to sequencers As the name suggests, a sequencer sorts the originally unordered transaction data in the blockchain, thereby organizing it into ordered block data for execution. Every L1 blockchain has its own ranking system, but for L2, centralized sequencers have become an increasingly serious problem. For L2, a sequencer is not necessary. L2 can also choose to use L1's sequencer. However, due to cost and speed considerations, L2 can bring users a cheaper and more convenient user experience by running its own sequencer. L2 runs its own sequencer, which can compress hundreds or thousands of L2 transactions into a single L1 transaction and submit them to L1, thereby greatly reducing gas fees. Also, users can enjoy the fast soft confirmation experience provided by the L2 sequencer without being constrained by Ethereum transaction throughput. Therefore, for L2, running its own sequencer is also an inevitable choice to improve the user interaction experience. Current status of sequencers Although L2 can improve the user experience by running its own sequencer, nowadays, the centralization of L2 sequencers has become an issue that cannot be ignored. Today, Ethereum's L2 holdings have reached 22B, and a large number of L2 are constantly emerging, but almost all L2 sequencers are centralized, and L2 relies on a single sequencer to determine the order of all transactions on L2. Centralized sequencers face many problems. For example, a single sequencer theoretically has the right not to include user transactions, a single sequencer can extract MEV from transactions without restrictions, a single sequencer also faces the problem of being resistant to censorship, and a single sequencer also faces the risk of a single point of failure. Source: https://l2beat.com/scaling/summary在解决 While MEV's complex challenges, rollup faces a delicate balance between maintaining user protection and profitability. This challenge involves how to prevent harmful MEV behavior such as pre-transactions and sandwich attacks, while effectively utilizing block space to achieve revenue. Although rollup traditionally protects users from MEV by relying on a single operator model and using a first-in-first-out (FIFO) order, this approach may miss out on blockchain space revenue opportunities and ignore the important role of economic dynamics in promoting the stability and growth of rollups. At the same time, ensuring compliance with FIFO principles and maintaining transparency in block sequencing poses additional operational challenges. Furthermore, using the underlying block space as a revenue source is beneficial, but it also raises trust issues for users. They must trust that operators will not use this space to harm their interests through sandwich attacks, etc., which may erode the integrity of transactions and users' trust. The shared sequencer provides an innovative solution to the MEV problem by introducing a more secure and public approach to blockchain networks...

773d agody zhang#2023 market #Coinbase Ventures #MT Capital #Polychain #Robot Ventures #Ethereum #Wu says blockchain is real #Sequoia Capital

The crowdfunding version of Martin Strategy Doubler launches an airdrop campaign to explain in detail the participation strategy and agreement business

The total value of the airdrop tokens is about hundreds of thousands of dollars. $2.6 million of capital has participated, and 2% wear on entry and exit from the market. Article: On July 5, Doubler, a liquidity aggregation investment strategy agreement, announced that the main network version of Doubler Lite was launched on Arbitrum on July 5. At the same time, a 5-day “Liquidity Airdrop” campaign will be launched, and a total of 500,000 DBR tokens will be distributed. Addresses that hold C tokens can obtain airdrops. In this article, Odaily will explain how to participate in airdrop activities, briefly analyze Doubler's business logic, and analyze the protocol operation process in detail. Basic information on the airdrop campaign Number of airdrops: 500,000 DBR; deadline: July 10 at 10:30 (UTC+ 8); Participation method: Hold C tokens, distribute DBR according to C token holding ratio, maximum airdrop 1 per address, & nbsp; 000 DBR; Issued on July 25. Go to Doubler's official website for detailed instructions, and prepare ETH or WETH (Arbitrum) to invest in ETH in the investment module to obtain C tokens, E tokens, and 10x tokens (not obtained when the pool floats); finally calculate the DBR airdrop amount based on C holdings, for example By investing 1 ETH in the image above, you get 2,866 C's, accounting for 0.107% of the total amount, and you can get 537 tokens. Readers can also swap other tokens for C tokens to get more airdrops. Whether to replace other 10x tokens and E tokens with C tokens, readers can refer to the following idea: if only to obtain airdrops, then when ETH is limited, they can all be replaced with C to obtain the maximum amount of airdrops; while participating in the airdrop, they can obtain their benefits in order to use the agreement. If you think it will continue to decline, you can convert C tokens to 10x tokens after the end of the airdrop campaign and wait for the floating profit to exit; if you think they will rebound and rise, exchange them for C tokens immediately after the airdrop ends; and E tokens should be exchanged for 10x tokens when readers think ETH is rising to a high point. Simply put, it is to get as much 10x as possible when it falls, and then sell at a profit. See later for the details. Note that a 2% handling fee is charged for investing in assets, withdrawing assets, and converting assets, which should be included in the cost calculation. Doubler Overview Doubler Lite consists of four main modules, and its specific operation process is quite complicated. Readers can only leave an impression of the core concept and read the next section: Martin's Strategy: Continuously invest in low-cost assets to reduce average costs when prices fall, and maximize profits when prices rebound. Separation of revenue rights: Separating the right to income from the right to cost of an asset, and tokenizing these rights. Adaptive inflation management: Ensure that the number of 10x tokens remains at 10% of the pool's total market cap (Pool Cap) through automatic rebasing. Dynamic redemption: According to changes in the spot price and the average price of the fund pool, the number of redeemed tokens is dynamically adjusted to ensure that the average price and the interests of other users in the pool are not affected. Martin Strategy Martin Strategy (Marti...

774d agody zhang#Arbitrum #Doubler #Ethereum #airdrop #financing

Is the crypto market making a comeback, and parallel SVM challenges parallel EVM?

In March of this year, Sei founder Jay was dissatisfied due to the news “Solana EVM Solution Eclipse Receives $30 Million in Financing” and questioned its excessive hype and difficulties in implementing ecological development. Sei's founder's remarks prompted further discussion by Eclipse founder Neel Somani, Fantom founder AC, and others, making the “parallel EVM” narrative the focus of the community. With the recent launch of the hot project ZEUS, the parallel narrative has once again undergone new changes. So what is parallel EVM? What are the new changes in parallel narratives? How will blockchain parallel narratives evolve in the future? What is parallel EVM? Although parallel EVM has been popular in the community before, it is difficult to say that it has actually become a well-known and clear technology. So what exactly is parallel EVM? What is the significance of the emergence of parallel EVM? “Parallel EVM” can be viewed as a technology fusion of “parallel+EVM compatible”. It is an optimization of the execution layer of the existing EVM network. It is essentially a special optimization of the performance of each EVM component to increase the number of transactions (TPS) or calculation tasks processed per unit time of the network and solve the current problem of EVM inefficiency caused by the sequential execution of transactions. Parallel EVM hopes to effectively manage the simultaneous processing of each region or group of transactions by partitioning or grouping all transactions to be executed, and then rely on scheduling algorithms. Its ultimate purpose is to allow multiple independent transactions to be executed in parallel at the same time, thereby improving the transaction execution efficiency of the entire Layer 1 network. Parallel execution in blockchain means processing unrelated transactions at the same time, such as partitioning or grouping transactions on the chain, such as DEX, NFT, GameFi, etc., so they can execute transactions independently in parallel. This also means that different transactions can be executed simultaneously on different processing units rather than being processed in a chronological order, greatly improving efficiency. Known for its high performance, Solana's SVM, Aptos's STM, etc. all use similar parallel execution processing logic. The need for parallel EVM (Ethereum Virtual Machine) stems from its ability to significantly improve the performance and efficiency of blockchain networks. Traditional EVM processes transactions sequentially, which not only consumes a lot of energy, but also places a heavy burden on network validators. This type of processing often results in high transaction costs and inefficiency, and is considered a major obstacle to widespread blockchain adoption. Parallel EVM revolutionizes the consensus process by allowing multiple operations to execute simultaneously. The ability to execute in parallel greatly increases the throughput of the network, thereby enhancing the performance and scalability of the entire blockchain. What technological innovations does parallel SVM leader ZEUS have? Essentially, parallel EVM mainly uses parallel technology to significantly improve the performance and efficiency of blockchain networks. From this perspective, ZEUS technology is actually very similar. However, ZEUS wants to connect Solana and Bitcoin through an open communication layer. Strictly speaking, ZEUS is different from parallel EVM, but in essence, it is actually a parallel story. Essentially, it is still improving the performance and efficiency of the Bitcoin network through SVM. So, how does ZEUS use technology to achieve parallel communication between Bitcoin and SOLANA? Zeus Network consists of Zeus nodes and Solana virtual machines (SVMs). Zeus nodes include a dual-function registry service that allows peer-to-peer communication, signing, broadcasting, authenticator registration, and operation both on-chain and off-chain. Zeus communication mechanism...

846d agoyuxishejiang#2023 market #Solana #SVM #ethereum #bitcoin #Parallel EVM

What projects were investigated by leading institutions in the Bitcoin Sword Index to a new high and bullish transition?

Author: Climber, Gold Finance recently surged Bitcoin, hitting a high of $69,000, which is the same as the high in the previous round of the bull market. However, judging from Bitcoin's upward momentum, it is likely that it will continue to reach new highs. Since the beginning of September last year, BTC has been rising all the way up until now. During this period, many projects swept away the haze of the bear market and achieved a high increase. Among these projects, quite a few were mentioned in research reports from leading institutions in the crypto industry, and most of the reports were issued before the currency rose. In addition, the most popular AI circuit since the beginning of the year was also highly recommended in research reports from institutions represented by Messari, and Messari issued two project reports before Binance announced the launch of Axelar (AXL). It can be seen from this that institutional research reports are more authoritative and valuable than ordinary KOLs or investors. So in the current round of the bear turning bull market, which tracks and projects are the leading research institutes focusing on? What are some projects that the agency is optimistic about but hasn't broken out yet? In response, Golden Finance selected the 6 most representative companies from dozens of industry organizations and sorted out some of their research subjects and results over the past year. Leading agency research projects sort out representative research and reporting institutions: Messari, LD Capital, First Class Warehouse, ABCDE Capital, MT Capital, and Penta Lab. Others: Delphi Digital, Nansen, SignalPlus, Binance Research, LK Venture, DappRadar, Galaxy Digital, Metrics Ventures. 1. MessariMessari is a blockchain database startup headquartered in New York, USA. Messari uses open source tools to build a blockchain database. The stored data includes the funding, development history, management structure, and supply plans of each blockchain project. 2024 Research Report Topic: February: Axelar (AXL) data achieved all-round growth in Q4 2023; Boca 2023 Q4 Report: DOT's market value in circulation increased 111% quarterly. January: Learn all about Manta Network, the 2023 DePin Report explains: New direction of AI integration, Asian projects will emerge at an accelerated pace. 2023 Research Report Topic: December: Report summary on Covalent (CQT) data availability, detailed explanation of the cross-chain infrastructure Axelar. November: Cosmos Hub Q3 Research Report - ATOM fell 21.0%, inflation rate 14%, full homomorphic encryption project overview. October: Solana's third-quarter 2023 developments, Messari releases Moonbeam Q3 briefing. Potential project: Covalent (CQT). Covent is a decentralized data infrastructure that enables users to seamlessly access blockchain data that was otherwise inaccessible. Covalent has indexed the entire blockchain history and transformed this data in a standardized and truly interoperable way. Users can utilize a unified API to query almost any data on a given blockchain. The project received a total of US$15.1 million in financing. Messari pointed out that as the world moves towards a multi-chain future, Covalent will play an important role in the field of on-chain data indexers. It will provide users with a secure, fast, and unified way to query data from parallel networks. 2. LD Capital LD Capital is one of the earliest institutions in Asia focusing on value investment in the blockchain field. With industrial resource advantages and a professional investment and research team, LD Capital has successively discovered and invested in projects such as Qtum, Vechain, and Eos, all of which have achieved returns of more than 100 times. 2024 Research Report Topic: January: New underdeveloped public chain—Sui's recent development, LD Capital's announcement of the establishment of the Solana Ecosystem Fund, can Mina's personnel changes lead the project's recovery? 2023 Research Report Topic: December: Mobile breaks the 7-day tenfold DePin circuit on the eve of old money entering the game, a brief analysis of the modular blockchain Celestia. November: POW+AI double review...

897d agody zhang#LD Capital #Messari #crypto market #Binance #Bitcoin #Research Report #Golden Finance

What do leading institutions think of the 2024 bull market outlook?

Article: The year 2024 is a promising year for the crypto market. Everyone's eyes are on the new tracks worth watching in the crypto space, as are leading institutions. Various institutions published their own research reports at the beginning of the year, looking forward to 2024 from a professional and meticulous perspective, which is very valuable for reference. Vernacular Blockchain reviewed research reports from 23 leading institutions (including Messari, a16z, Coinbase, MT Capital, etc.) to try to gather and find “institutional consensus” to improve certainty. The summary is as follows: 10 generally optimistic tracks 1) Bitcoin Ecological Revival led the inscription and Bitcoin ecosystem boom after the launch of Ordinals (a Bitcoin-based digital content coding method) in December 2022. In 2023, the Bitcoin ecosystem developed strongly, and Bitcoin's dominance (Bitcoin's share of cryptocurrency market capitalization) rose from 38% in January to around 50% in December, making it one of the most noteworthy ecosystems in 2024. Institutional predictions are also basically optimistic about the development of the Bitcoin ecosystem this year: Bitwise, a mainstream US crypto index fund management company, predicts that the Bitcoin transaction price will exceed $80,000 in 2024; Coinbase believes that at least in the first half of 2024, the main focus of institutional investment will continue to focus on Bitcoin, because the adoption of ETFs will make traditional investors have a strong demand to enter this market. Other institutions' predictions are also optimistic, mainly because the US Securities and Exchange Commission (SEC) has approved a spot Bitcoin ETF, and the next major event, the Bitcoin halving event in April is coming, and supply and demand are expected to change significantly; the Bitcoin ecosystem will upgrade infrastructure, add programmable features, and develop protocols such as layer 2 and other extensible layers (such as Stacks and Rootstock). 2) The development of Ethereum L2 In addition to the Bitcoin ecosystem, Ethereum is the founder of smart contracts, and the development of Ethereum Layer 2 is also the highlight of the 2024 predictions. In particular, as Vitalik released the Ethereum 2024 roadmap and the Cancun upgrade is approaching, Ethereum Layer 2 project tokens such as ARB and OP have all recently skyrocketed. Competition in the public chain ecosystem has always been fierce. In 2023, public chain ecosystems such as Solana and Avalanche developed rapidly, and the momentum even overtook Ethereum. However, Ethereum has also begun to gain strength as a leader. Most agencies predict that with the completion of the Cancun upgrade, gas fees will drop even more drastically, which can drive the explosion of the Ethereum Layer 2 ecosystem in 2024. Bitwise believes that a major upgrade to the Ethereum blockchain will make the average transaction cost less than $0.01, laying the foundation for more mainstream uses. If the upgrade is successfully implemented, some of the leading Ethereum Layer 2 projects (such as Optimism, Arbitrum, Base, etc.) can fully compete with other Layer 1 public chains in terms of performance. Furthermore, according to Vitalik's vision, in the long run, zero-knowledge proof is the future of Ethereum Layer 2, and the two Layer 2 projects zkSync and StarkWare are also favored by everyone. 3) Development of the Solana ecosystem In the past 2023, the Solana public chain ecosystem has performed well. Whether it is technology accumulation or community, etc., it has laid a solid foundation for the long-term development of the Solana ecosystem, and the explosion of the Solana ecosystem has also attracted a large number of users and capital. Agencies predict that in 2024, more projects will choose or migrate to the Solana public chain, and the Solana ecosystem will continue to explode. Because, whether it's TPS, gas fees, or community users, Solana is quite resistant. The expectations of various agencies in the market for Solana in 2024 focus on the following aspects: Solana's technical upgrades, such as developing light clients through Tinydancer, allow validators to complete verification work at a lower cost and achieve a higher degree of decentralization; Solan...

932d agody zhang#a16z #Arbitrum #BASE #Coinbase #DePin #Messari #MT Capital #NFTs #optimism #Solana #WEB3 #Ethereum #pays #Bitcoin

Doubler completes seed funding round

Comparative news, according to official reports, the liquidity aggregation investment strategy agreement Doubler announced the completion of a seed round of financing. Led by Youbi Capital, Bixin Ventures, Mask Network, Comma3 Ventures, Pivot Labs, Continue Capital, Sanyuan Capital, Waterdrip Capital, DWF Ventures, Gate Labs, Formless Capital, MT Capital, and CatcherVC Institutions participated in this round of financing. Doubler is an open DeFi protocol that uses Martingale strategies to aggregate market liquidity.

935d agoyijunzhong007@outlook.com#Doubler #Youbi Capital

MT Capital: Learn about Ethereum's Cancun upgrade this year

Author | MT Capital Summary · One of the core elements of the Dencun upgrade is the introduction of a new data structure blob through EIP-4844 to store transaction data submitted by L2 to Ethereum, thereby significantly reducing the transaction cost of Ethereum L2, increasing L2 transaction throughput, and benefiting the L2 ecosystem. · The Dencun upgrade also introduced a new instantaneous storage operation code through EIP-1153, which supports smart contracts to read and call temporarily stored data, thereby reducing Ethereum's storage costs and gas consumption, improving the expandability of the main network, and facilitating the application of the main network ecosystem. · According to the Shadowfork test report released on December 19 and the 178th Ethereum Core Developer Executive Meeting held on January 4, the current status of the Ethereum Dencun upgrade test is good, and the Dencun upgrade of the main network is expected to be completed by the end of February. · The Dencun upgrade will promote the prosperity of the L2 ecosystem and drive demand for Infra tracks such as decentralized storage, DA, and RaaS. For the application layer, tracks such as Perps, LSD, ReStaking, and FOCG will also benefit from Dencun upgrades. Cancun upgrade Cancun upgrade background On December 28, 2023, Vitalik published the article Make Ethereum Cypherpunk Again to discuss its vision of crypto. Among them, Vitalik emphasized that one of the core reasons why blockchain is currently limited to asset speculation is the rise in transaction fees. High network transaction fees have turned people from blockchain network users to blockchain network speculators. In order to realize the application value of blockchain, the transaction fee of the blockchain network must be reduced by another level. Even though the advent of L2 has reduced network fees compared to the Ethereum mainnet, this is far from enough. Similarly, the take-off of the Solana ecosystem in late 2023 also had a lot to do with its extremely low online transaction fees. Compared to Ethereum's L2 gas cost of $0.5, Solana's gas fee as low as 0.0005 is almost negligible. Extremely low network gas has fueled booming meme hype, DeFi app interactions, and DePin app migration on Solana. In particular, cNFT on Solana can reduce minting costs by 1000 times compared to NFTs on Ethereum, which has also brought prosperity to some Depin-like projects and creators' economic projects with NFTs as the core of the economy. It can be seen from this that low online transaction fees have a significant effect on the prosperity of online trading activities and ecological applications. Ethereum L2 still has high gas fees (Source: https://l2fees.info/）当然，以太坊也早就意识到了这个问题. According to Ethereum's upgrade roadmap, the next upgrade “The Surge” after the merger is aimed at increasing Ethereum's TPS and reducing transaction fees in the Ethereum ecosystem. Ethereum's upcoming Dencun upgrade is part of “The Surge” and aims to further increase Ethereum's transaction throughput and scalability through the introduction of Proto-Danksharding. One of the core elements of Dencun's upgrade is the introduction of the Proto-Danksharding module. Proto-Danksharding is also preparing for the ultimate shard expansion of Ethereum. The earliest Ethereum expansion plan was to split Ethereum into different shards and distribute the computational load of the main network to each shard. Each independent shard holds a subset of transaction data occurring on Ethereum and processes transactions in parallel, thereby increasing Ethereum's TPS. The original ETH2.0 plan eventually divided the main network into 64 shards to achieve 100,000...

950d agody zhang#Dencun #MT Capital #Ethereum #Wu says blockchain is real

Messari Crypto Announcements 2024 Explained: Focus on Solana and AI + DePin Track

Messari said in the report that Solana, DePin, AI+Crypto, and Perps tracks are all likely to generate Mass Adoption applications. Among them, Solana technology upgrades have significantly reduced downtime. Depin applications such as Helium, Hivemapper, Render, etc. have migrated to Solana. Advances in AI will increase demand for cryptocurrency solutions. Rollup is as cheap as other Alt L1s. Analysts' main profit comes from Solana ecosystem and AI+Depin concept. Author: Severin, MT Capital Source: MediumTL; drMessari showed strong optimism about Solana, DePin, AI+ Crypto, and Perps tracks in the report. Judging from the distribution of analysts' holdings, Messari's internal optimism is still Solana and the AI+ DePin concept. Key investment theme Solana: The rapid launch of new products on Solana, the surge in on-chain liquidity, and the continued expansion of the usability of developer tools have always been exciting. On a technical level, upgrades such as Local Fee Markets, QUIC, and Stake-Weighted QOS have significantly reduced Solana outages and made Solana run more steadily. The advent of technology such as cNFT has drastically reduced the cost of minting and managing NFTs on Solana, so that agreements such as Helium and Render can use cNFT to drastically reduce costs and expenses, and promote the prosperity of the Solana Depin ecosystem. The 2024 market's expectations for Solana focus on the following aspects: achieving a 10x increase in throughput and performance through the Firedancer and Sig client. Firedancer enables Solana to process 1 million transactions per second. Improved user experience can attract more developers to participate in the use and development based on Solana, and enrich Solana's thriving ecosystem. Developing a lightweight client through Tinydancer allows validators to complete verification work at a lower cost and achieve a higher degree of decentralization. Deploy tokens - 22 standards to extend Solana's token functionality. For example, token-22 will support interest-bearing tokens, allow complex contract logic to be triggered when transferring tokens, etc. Solana's Local Fee Markets and state compression technology make the following applications “only possible on Solana”. DePin: Projects such as Helium, Hivemapper, and Render have all migrated to Solana. Render abandoned its blockchain and switched to Solana for compressible cNFT, faster transaction speeds, and a composable on-chain order book. Payments: Solana has partnered with Visa to enable users to use Solana USDC to trade on Shopify at a lower cost and faster speed through the Solana Pay plugin. Consumer apps: Extremely low-cost cNFTs can boost the efforts of emerging consumers who focus on NFTs. In DRiP, for example, DRiP collaborates with artists to distribute NFTs to subscribers for free. Since the end of March, it has minted over 78 million cNFTs into 1.6 million wallets, while each NFT only costs around $0.00036. DeFi: Extremely low transaction fees and faster final state confirmation enable the DeFi protocol on Solana to create a full-chain order book model, providing users with a smoother user experience that other blockchain networks cannot support. DePin, DeSoC, DesCI In the non-financial sector, Messari is paying more attention to the future development of DePin, DeSoC, and DeSci. The above three tracks have huge potential market sizes and can target real-world business processes...

970d agody zhang#AI #Atom #DeFi #DePin #Helium #Hivemapper #LSK #Render #SOL #Solana #USDC #Ethereum #Bitcoin

MT Capital Research: Bitcoin Inscription Track Full Scan

Author | MT Capital The content of this article is for information sharing only. It does not promote or endorse any business or investment activity. Readers are requested to strictly abide by local laws and regulations and not participate in any illegal financial acts. The article does not represent Wu's opinion. Link to original article: https://medium.com/@MTCapital_US/mt-capital-research-full-scan-of-the-inscription-sector-a40bddae565f摘要随着 ORDI is launched on Binance. The Bitcoin ecosystem's inscription circuit is rapidly developing, and various innovative technologies and concepts have emerged. SegWit and Taproot upgrades provided strong support for Bitcoin's programmability and scalability, fueling the rise of projects such as Ordinals, BRC-20, and Atomicals. These technological advancements not only increased the transaction capacity and flexibility of the Bitcoin network, but also created additional revenue streams for miners. Introduction With ORDI's launch on Binance, we are witnessing the beginning of a new era: a technological revolution and market boom led by the Bitcoin ecosystem. From the craze of inscriptions at the beginning of the year to a renewed frenzy today, the rapid development of the Bitcoin ecosystem and the huge increase in its value attracted widespread attention. But behind all of this, what is driving the popularity of the BTC ecosystem and the rapid expansion of value? Technology Before we explore this issue, we first need to understand a few key technological advancements in the Bitcoin ecosystem. Segregated Witness (SegWit) is a key upgrade to the Bitcoin core protocol launched in 2017 to address Bitcoin's scaling challenges and specific vulnerabilities. It mainly promotes the inclusion of more transactions by correcting transaction scalability issues and expanding the Bitcoin block size limit. SegWit introduced the concept of block weight, which replaced the traditional block size limit, so that a fully loaded block can hold about 2,700 transactions, which is a significant increase compared to the previous 1,650. Additionally, SegWit brought a new coding method, Bech32, and two innovative script types. By the end of 2021, Taproot was upgraded, and the Bitcoin ecosystem began to support more complex scripts and data types, bringing huge advances in BTC's programmability and scalability. This provided a critical opportunity for the Bitcoin ecosystem to explode in 2023. The Taproot upgrade mainly includes changing the transaction confirmation method and introducing the Schnorr signature algorithm. The introduction of Schnorr signatures provided many benefits, including better privacy protection, particularly in multi-signature wallets. It allows all private keys to be compiled together, making multi-signature transactions look like other transactions, thereby improving privacy. Additionally, Schnorr signatures support batch confirmation, making transactions across the entire network cheaper and faster. Taproot also brings the potential to create smart contracts to the Bitcoin network. Although it may be more expensive and has limited functionality compared to platforms such as Ethereum, its ability to enable smart contract interactions on Bitcoin worth up to $700 billion is enormous and may push smart contract technology into the mainstream. Miner interests When it comes to miner interests, recent data suggests that the Bitcoin inscription market is experiencing an unprecedented boom with the rise of projects like Ordinals and Atomicals. According to Oklink Blockchain Masters, the revenue of Bitcoin miners has increased significantly in the past three months. In particular, in November, the share of on-chain fee contributions rose from 2.4% on August 19 to 23.46% on November 16. This increase was mainly due to the introduction of the Ordinals trading pair. This shows that the development of the Bitcoin inscription market has significantly increased the share of miners' fee income. This ratio is expected to reach 50% by the time Bitcoin production is cut in April 2024. Currently, due to the fact that Bitcoin mining farms in the US are in a state of loss for most of the time, and the semiconductor industry is facing process bottlenecks, the race for mining machine computing power is easing. As a result, miners may turn to Bitcoin inscriptions as a new revenue stream. For example, less than a year after the launch of Ordinals, more than 50,000 tokens have been issued in the market, and the number of mints and transactions is growing rapidly, which has greatly contributed to the increase in miner fee revenue. The expansion of the inscribed racetrack has not only contributed to...

990d agody zhang#Atomicals #BRC-20 #MT Capital #NFTs #ordi #Ordinals #Wu says blockchain is real #Binance #Bitcoin