DMC 20 Launches on X Layer: OKB Airdrop to Foggie Max, the World 1st Data Sovereign DePIN
During the first week of June, all Foggie Max users received airdropping OKB to celebrate DMC2.0 going on X Layer.
OKX’s X Layer is a ZK-powered layer 2 network connecting the OKX and Ethereum communities. X Layer enables anyone to participate in a truly global on-chain ecosystem.
DMC getting onboarding on X Layer, from a technical perspective, represents DMC’s embrace of all frameworks and ecosystems. Here are breakdowns
- Background
- In the early days, DMC focused on decentralized storage, and projects like Filecoin were already underway.
- Filecoin chose a mainchain approach with proof-of-work (PoW) for block production.
- DMC, however, prioritized storage and didn’t use PoW for block production.
2. DMC’s Initial Choice
- DMC initially built its chain based on EOS, which served its storage needs.
- However, over time, the landscape changed, and Ethereum Layer 2 (L2) solutions gained prominence.
3. Understanding L1 and L2
- In Ethereum’s context, L1 refers to the main Ethereum chain, while L2 represents layer-2 solutions built on top of it.
- L2 allows developers to create their chains within Ethereum’s framework, with customizable fee structures and faster transaction speeds.
- These L2 chains are decentralized and don’t rely on centralized bridges.
4. How L2 Works
- Imagine L2 as a decentralized exchange within the Ethereum ecosystem.
- You can move assets (tokens) between L1 and L2 seamlessly.
- For example, if you’re using DeFi on L2, you can map your tokens from L1 to L2 and vice versa.
- Deposits from L1 to L2 are fast, and you can transact with low fees on L2.
5. Risk and Benefits
- While L2 introduces some risk due to its unique architecture, it’s ultimately governed by the L2 operator.
- However, the mechanism ensures that you can freely move assets between L1 and L2 without restrictions.
6. DMC’s Transition
- DMC is now migrating from its EOS-based mainchain to Ethereum L2.
- This transition aims to reduce transaction fees and improve transaction speed.
7. Challenges in DMC20 Development:
- The core challenge lies in upgrading our existing contracts to be EMV-compatible.
- Previously, we operated without strict limits, but now we must adapt to the constrained L2 environment.
- Our team has worked extensively to optimize storage proofs and address these limitations.
Regarding DMC20’s design and development, we overcome difficulties related to upgrading our core technology. We’ve optimized storage proofs addressed limitations to ensure a smooth transition, and put significant effort into adapting our contracts to the EVM-compatible environment required significant effort.
In summary, DMC is actively transitioning to embrace L2, which provides a comprehensive solution for reducing fees and enhancing transaction speed on Ethereum.
[About Fog Works]
FFog Works develops Foggie Max, the world’s first ready-to-ship Data Sovereign DePIN on the DMC network. It utilizes the $DMC token to incentivize the decentralized storage network and paves the way for decentralized AI. Its mobile app, the decentralized Dropbox, not only provides you an extra 100GB+ space on your phone but also rewards you by uploading photos/videos in daily life. Founded in 2022 by OKX Ventures, Draper Dragon, Lingfeng Captial, and others, Fog Works has been named one of the top 15 US innovative storage startups in 2023. Fog Works’ contact information is as follows:
- Website: www.fogworks.io
- Foggie Max: shop.fogworks.io
- Twitter: www.twitter.com/fogworksinc
- Discord: discord.com/invite/fogworks
- Youtube: www.youtube.com/@fogworksinc.2753
[About Datamall Chain]
Datamall Chain leads the new era of data ownership and sharing, aiming to build a decentralized multi-chain storage network that unlocks data potential. DMC’s contact information is as follows:
- Website: www.dmctech.io
- Twitter: www.twitter.com/datamallcoin
- Discord: discord.gg//dmcoffical
- DMC inscription: s.dmctech.io
