Happy New Year from Züs | Weekly Debrief — January 4, 2023
Happy New Year from Züs! Hope you all enjoyed the holidays and festivities. We appreciate all your support and patience throughout the years as we move toward the launch of the platform. With that said, we wish you all a great and exciting year with all that is to come.
Cloud Cover AMA
Continuing the holiday season, this week there will not be a Cloud Cover AMA. The next AMA (Ecclesia #7) will be held next Thursday, January 11th. Last week on the AMA (Ecclesia #6), Saswata presented the Chalk App for NFTs, where he explained how the App works, and how you can enhance your NFTs with images, videos, or a story. You can watch the episode here to learn more
Chalk
Chalk is a storage App for NFTs that simplifies minting, without the need for coding or any background knowledge. Since the App is agnostic, you can store NFTs from other chains, to protect your metadata and not rely on centralized storage providers. Notably, Chalk innovates by allowing users to enhance their NFTs. Chalk enables users to add images, videos, or any rich media that people can interact with when viewing your NFT. With limitless creativity, users can create stories, explain their artwork, timelapse their work, create animations, and much more!
Demos
Chimney and Bolt: Currently devs are building a new deployment process for Chimney, expected to be completed by tomorrow, and the API for the dashboard is expected to be finalized by the end of the week. Atlus is also almost completed and should take about a week.
Storm of the Week
Meta GDPR fine
Meta breaks the 2022 record for GDPR fines, totaling a whopping $747 million. These fines included 405M for violating children’s privacy on Instagram, 282M relative to data breaches on Facebook, and 60M for violations of cookies consent. This incident clearly illustrates how GDPR can severely hurt businesses. Even tech giants like Meta are not safe from these fines, especially after experiencing a tough year in 2022. Because of that, it is time to adopt a more viable solution like Züs. Our solution can empower users with higher security and data control, shifting liability from companies to users. Big tech needs a high-performant cloud solution that is compatible with GDPR.
Blockchain Team Updates
Last week the blockchain team focused on fixing 3 core issues that affected the network stability: 1) Block missing bug on sharders, 2) State hash mismatch error, and 3) partition location bug.
Block missing bug on sharders
Previous fixes were not effective as it was still not clear how the bug occurred. As a response, the team re-ran the network to get more logs and were able to find and fix the bug. In a nutshell, the latest finalized block (LFB) was being updated before the data persistence on the block finalization was finalized, causing data loss when the persistent process failed due to timeout or something else. Check here for details.
State hash mismatch error
The network got stuck due to consensus miners agreeing on a “finalize_allocation” SC txn’s while all sharders did not agree. The issue was investigated by checking the txns in the block, and it turned out the txn was originally assembled in a block with a chargeable error. However, the txn was executed successfully and txn output was “finalized” in all sharders. By checking the logs around the txn execution, the team found out that the sharders only showed “skipping removing allocation|removing allocation from blobber”. This meant the txn tried to remove the allocation from a blobber but the location to the address was “nil”.
Meanwhile, miners seemed to work completely differently as they could see the location address and try to dereference the partition based on the address and remove the allocation from it. Although it failed due to the partition location bug, it was unclear why miners and sharders saw a different address location. Having inconsistent states between nodes after running txns could turn out to be a big problem. Because of that, the team conducted several tests and concluded that there were no state inconsistencies on MPT. The issue was caused by the partition location bug, which will have a fix soon as well as recover the chaos and load test.
Other fixes:
Implemented the bucket feature on providers for the snapshot, and fixed inconsistent “max_stake” values.
Züs is in the news!
The problem with Terra started with its high APR offer. Initially, this generated a lot of interest, and forced the algorithm to reduce its APR when lenders outnumbered borrowers by a large margin. This caused the DeFi proposition to become unattractive, and people started exiting their USTC coin, since it did not offer any other intrinsic value.
Pegging a stablecoin to decentralized storage tokens like Züs(ZCN) can be used for a stable token, allowing a digital asset to be tied to several storage economies and their related physical assets.
How the fall of TerraUSD sent a shockwave through the Crypto Market — Korea IT Times
Read our recent article:
Blockchain and cryptocurrency have revolutionized the way that people store and transmit information online. However, one of the main criticisms of cryptocurrency is that is not asset-backed. This means that its value relies purely on speculation, which can make it volatile and unpredictable.
How asset-backed cryptocurrency solves the main criticism of crypto.
Happy New Year from Züs!
Developer Resources
- Interested in learning more about building on Züs or becoming a service provider? Check out our GitHub for access to repositories. Community ambassador Sculptex has created numerous tutorials to help get you started.
- Try our BetaNet here! Users can create wallets and allocations, store files, send transactions, and share files.
- Need help navigating creating wallets, allocations, or joining as a blobber? Check out our documentation page.
- Züs’s API endpoints use simple and intuitive HTTP requests to interact with the blockchain in order to send/retrieve information to and from miners, sharders or blobbers in the active network.
About Züs
Züs (formerly 0Chain) is a high performance storage network powering limitless applications. It is a new way to earn a passive income from storage.
