Protocol Weekly #26
Protocol Weekly is a newsletter to exclusively showcase the progress of Ethereum layer-2 protocols.
Another week, another avalanche of updates! WBTC launched with a total of 65 BTC being locked up in less than 24 hours! $DONUTs survived the r/ethtrader vote and continue to live on. Aragon hosted their Aracon conference and more!
This week there’s been more talk of the real Ethereum killer (or competitor)… Application Specific Chains. At Aracon, Aragon announced that they’d start building on Parity’s substrate. This is followed by news that Polkadot is getting ready to launch in Q3 of this year and gearing up to do another ICO with a total implied valuation of over $1B. I’d be curious to know if they’d be able to raise that much considering the BitTorrent token sale with Binance’s backing only aimed for $7m (sold out in 30 seconds though). Going back to the point, I personally for-see the blockchain stack looking increasingly complicated. At some point in time there’s going to be a mix of:
- ETH 1.0 or 1.X chain
- ETH 2.0 with scalability although application re-architecture required to take advantage of cross-shard communication
- Application Specific Chains built on Substrate, Polkdot and Cosmos
I’ve listed the above in order of increasingly complexity. ETH 1.0 will be easy to develop and prototype on. ETH 2.0 will offer scalability while integrating with a wider ecosystem. ASCs will provide the most efficiency and allow developers to control the full user experience but will come at the cost of high complexity/resources as well as a reduction in operability in some ways (not saying it won’t happen but I doubt it’d be 100% smooth). That’s a wrap for this week, catch you all next week!
From Alexandra (Communications):
- Polkadot’s third proof-of-concept is live! It powers a new testnet, “Alexander,” that implements the brand-new GRANDPA consensus algorithm.
- Gautam Dhameja created a Token Curated Registry (TCR) with Substrate.
- Katollossos announced that they are building on Polkadot.
- The tutorial on creating a custom Substrate blockchain is now in Chinese.
- We’re hosting a meetup at FOSDEM and ETHDenver.
- New bounties are available for Substrate and Polkadot.
- Bithumb re-opens LRC deposit and withdrawal, great news for Loopring Korean Community.
- LRC is now available on the eo.Finance wallet. Send, receive and store LRC on their mobile, web, or browser extension wallet.
- LRC is now available for direct euro swapping at Elastum.
- Loopring Protocol Founder, Daniel Wang, hosted a Reddit AMA to answer the community’s questions on Saturday, Jan 26th, 2019.
- Documentation for the NOCUST client library updated and improved.
- Deployment of improved contract with new features on rinkeby testnet.
- Ongoing improvements to hub software bugs identified and fixed.
- Deployment of the DEX for testing bugs fixed.
- MakerDAO’s stablecoin DAI has grown in popularity, and we’re also seeing this growth on the AirSwap network. The Makers on AirSwap are adjusting appropriately to be able to take on this demand and are accepting large DAI orders now.
- WBTC is coming soon, and as a WBTC merchant and DAO member, we have began to execute on various requirements to fulfill the DAO’s commitment to transparency. Over the last week, we publicly reported our WBTC Ethereum address and have began minting our first WBTC tokens.
- Last week, Harvard Business School released a case study on Fluidity and AirSwap. The case study will be released to the public soon.
- We are proud to announce the new Origin Marketplace Creator: Instant Peer-to-Peer Marketplaces. This is a new tool that enables anyone to construct their own decentralized marketplace in a matter of minutes. The Marketplace Creator allows technical and non-technical users to quickly deploy a customized and branded marketplace that is decentralized and censorship-resistant.
- Our co-founder, Joshua Fraser, presented at Graph Day last Friday, along with other leading projects helping to push the blockchain industry forward. The future of the emerging Web3 movement was explored from a range of perspectives, and it was our pleasure participating at the event.
One thing we need help with: If you are interested in setting up your own marketplace or have any questions, please reach out to email@example.com or firstname.lastname@example.org. We want to hear from you! Lastly, KryptoSeoul, South Korea’s leading blockchain community-builder will be hosting its first meetup here in SF tonight. Origin is proud to support KryptoSeoul’s first meetup in SF, and will be discussing lessons learned in 2018 & share insights into future outlook for 2019. Please RSVP here.
- Rolled out new functionality to Dharma Lever Alpha Partners, including updated borrowing features and event-based notifications
- This week’s interest rates on Dharma Lever will start at 2% for ETH and USDC. If you are interested in joining the closed Alpha, email email@example.com
- Hiring on our engineering team for a Jr. and a Sr. Full-Stack Engineer. Check our our roles and apply here
- Mobile Phone Integration: We recently announced an integration with Telefonica, one of the world’s leading mobile phone carriers, to bring blockchain to the masses via mobile devices.
- Gemini Integration: Wanchain recently integrated Gemini’s GUSD stablecoin into our platform, bringing cross-chain capability.
- One Year Completed: We just wrapped up our first year since launching our mainnet in January 2018. Our CEO, Jack Lu, addressed the community to recap the year and discuss the exciting year ahead.
All Our Projects:
Parity, Loopring, Matic Network, The Graph, Origin Protocol, AirSwap, Kyber Network, Wanchain, Aion, ICON, CDx, Abacus Protocol, Enigma, Set Protocol, Codex Protocol, Colony, The Graph, POA Network, Connext Network, Dharma Protocol, Paradigm, Market Protocol, Liquidity Network.
Know a protocol that should be part of this list? Drop us an email at firstname.lastname@example.org.