MAP Protocol Community AMA Recap: July 12th, 2023
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Weāre thrilled to have recently concluded another engaging and insightful AMA session with our passionate MAP Protocol community. We have answered an array of questions, ranging from our MAP DAO initiative, our latest technical innovation, and our future plans. Now letās revisit the key points discussed!
- As MAP Protocol embarks on global MAP DAO building, what strategies and mechanisms are in place to ensure the active participation and engagement of the global community in shaping the future of the protocol?
Great question! MAP DAO initiative was launched last month on June 28. It aims to bring together the brightest minds and create a synergy that will drive outreach, insights, innovation, and advancement in the blockchain industry. Weāre excited to share several mechanisms that MAP DAO is planning to implement:
1) Global Engagement Initiatives: MAP DAO is planning a series of global online and in-person events, including hackathons, webinars, meetups, and developer boot camps together with MAP Protocol. These events will not only increase awareness about MAP Protocol but also serve as platforms for community members to share ideas, discuss potential improvements, and get involved in protocol development.
2) Strategic Partnerships: To widen our reach and influence, MAO DAO will be establishing strategic partnerships with key industry players, DAOs, and research institutions worldwide. Such collaborations will not only introduce MAP Protocol to a broader audience but also bring in diverse perspectives to shape its future.
3) Transparency and Open Communication: Transparency is key to building trust in a decentralized community. MAP DAO is also committed to sharing regular updates about the latest progress, and ensuring that community members have multiple channels to voice their opinions and concerns.
To sum up, MAP DAO is community driven and will collaborate with an array of existing DAOs, distinguished KOLs, and industry leaders worldwide to achieve its goal to consolidate the effort to bolster blockchain technology innovation and adoption. View details here: https://medium.com/marcopolo-protocol/map-protocol-embarks-on-global-map-dao-building-bolstering-blockchain-innovation-and-education-2e54be6d558
2. Can you provide specific examples of how MAP Protocolās omnichain interoperable protocol reduces transaction costs for cryptocurrency, NFTs, and data flow across different chains, and how these cost savings are achieved?
Sure! But first, letās make sure we have a proper understanding of how cross-chain verification works in MAP Protocol.
MAP Protocol is built upon light clients and ZK technology. In MAP Protocolās trustless omnichain design, ZK is used to refactor light-client cross-chain verification. Specifically, although light-client verification can guarantee high levels of decentralization, yet when it comes to heterogeneous chain verification, the gas fee for verification will cost too much and the network will become unsustainable.
To make sure the verification process is cost-efficient, our tech team decided to introduce ZK technology to further reduce cross-chain gas fees. With ZK technology, both the light-client construction and proof check process can be improved. So to put it more precisely, the costs reduced are cross-chain verification costs and they are reduced via ZK technology.
3. In terms of global MAP DAO building, can you provide examples of specific initiatives or educational programs that will be implemented to foster blockchain innovation and increase awareness and understanding of your technology?
Thank you again for your interest to the global MAP DAO building initiative. While MAP DAO currently doesnāt have specific programs dedicated to one single purpose, there are opportunities open for collaboration and innovation.
For DAOs and individuals interested in contributing to MAP DAO, the signup form is available here. We encourage individuals or projects/DAOs who are passionate about building and outreach to sign up. In parallel, MAP Protocolās Omnichain Ecosystem offers another avenue for engagement. For those interested in building in the Omnichain Ecosystem, simply fill out this signup form.
In addition to these opportunities, we are in the process of planning various community events aimed at increasing awareness and understanding of our technology. We are eager to engage with the community in these events, which will present opportunities for learning, collaboration, and exploration of our technologyās potential. Although we canāt share the specifics just yet, rest assured we are stirring up exciting plans that will further our goal of fostering a vibrant and knowledgeable MAP community.
We appreciate your interest and enthusiasm for the MAP Protocol and our growing global DAO. Stay tuned for more updates and opportunities to participate in shaping the future of blockchain innovation.
4. Considering the continuous launch of newer blockchains, the inevitable demand for interoperability among them soars further. From your perspective, are we headed to having a complete interoperable Web3 ecosystem and how can MAP Protocol play the major role in achieving that?
Indeed, as the landscape of blockchain technology expands with the launch of newer blockchains, the need for interoperability has become more critical than ever. We believe that the trend toward a fully interoperable Web3 ecosystem is not just a possibility, but a clear direction in which the industry is moving.
MAP Protocol, positioned as an omnichain layer in the Web3 architecture, is at the forefront of enabling this interoperability. Our key mission is to connect with different L1s/L2s, thereby fostering seamless communication and interaction across disparate blockchain networks.
Working in concert with major players in the Web3 sphere, we strive to propel the adoption of omnichain technology. Our collaborative efforts aim to eliminate existing silos, thereby contributing to a more integrated, efficient, and truly decentralized Web3 ecosystem.
So, in short, the journey towards a completely interoperable Web3 ecosystem is well underway. And with the MAP Protocol as a pivotal part of this journey, we are confident that our collective efforts will bring about the realization of this interoperable future.
5. Can you provide more details about MRC-20 and its purpose within the MAP Protocol ecosystem? How does MRC-20 enable dApp tokens to coexist on any chain and facilitate seamless token interaction through trustless data cross-chain mechanisms?
MRC-20 is a crucial innovation within the MAP Protocol ecosystem, designed to enable seamless interaction of dApp tokens across multiple chains. It fundamentally aims to make it possible for dApp tokens to coexist on any chain, and for users to transact without worrying about the specific chain theyāre using.
MRC-20 will allow tokens to coexist on any chain. This breakthrough eliminates the need for bridges or complex coding, making it significantly more straightforward and accessible for all users.
Currently, our team has successfully worked out the foundational protocol layer. As we continue to refine and optimize the details, we are excited about the prospect of making MRC-20 publicly available. Once all aspects are fine-tuned, we will publish it on GitHub to foster broader engagement and collaboration.
To stay informed about the ongoing development and upcoming releases related to MRC-20, please refer to our bi-weekly updates. You can find the latest update here: https://medium.com/marcopolo-protocol/map-protocol-biweekly-updates-07-10-2023-fa1ca5f5d979.
6. What is the significance of the progress made for the BRC-20 cross-chain? Could you explain the BRC201 inscription testing and BRC201 list display, as well as the ongoing BRC201 cross-chain testing? How does this progress contribute to the overall goal of achieving BRC-20 cross-chain functionality?
MAP Protocol has published details for BRC201, an extension protocol to the BRC-20 standard. It is aimed to be backward compatible with BRC-20, to improve scalability, especially to bridge BRC-20 tokens to chains with smart contract support, such as Ethereum, BNB Chain, Near, etc.
This is a major step towards creating a more connected and efficient blockchain ecosystem, allowing tokens to traverse across different chains seamlessly. For more details on BRC201, please refer to our documentation available here.
A project has used our BRC201 protocool to achieve BRC20 cross-chain. The most recent updates regarding the progress of BRC20 cross-chain functionality can also be accessed through their Twitter updates here: https://twitter.com/brc20_bridge.
7. How does the MAPO Omnichain ecosystem benefit from the participation and development of decentralized applications and solutions? What are the focus areas within the ecosystem, such as payment and tooling, NFTs/social, gaming, and the use of MOS (MAP Omnichain Service)?
The MAP Omnichain ecosystem is a comprehensive and integrative blockchain network designed to support and foster a wide range of decentralized applications (dApps) and solutions. This ecosystem is underpinned by the MAP Omnichain Service (MOS), which provides a crucial foundational infrastructure, promoting cross-chain interoperability and enabling seamless transactions.
The integration and development of dApps within the ecosystem serve to stimulate growth and enhance its utility. They add value by driving adoption, introducing innovative use cases, and facilitating diverse transactions across the network.
In terms of focus areas, the MAP Omnichain ecosystem caters to a wide spectrum of applications. Infrastructure and tooling represent core aspects, ensuring the ecosystem is robust, scalable, and easy to use. Payment scenarios are another focal point, underpinning the financial transactions within the network. Further, emerging trends like gaming also find prominence, fostering creativity and engagement within the ecosystem.
Moving forward, the ecosystem aims to extend its reach by finding avenues to connect with real-world assets (RWA), telecommunication, and cross-border transactions. Each of these expansions will contribute to making the MAP Omnichain ecosystem more versatile, adaptable, and valuable to its users.
8. Smart contracts are susceptible to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you tested it through any of the parties?
Thank you for raising this crucial question again about the reliability and security of our smart contracts. I think we have answered this in last monthās AMA, but for better clarity, I will answer again.
Security is indeed the cornerstone of MAP Protocol, and we are deeply committed to ensuring that our platform is robust and trustworthy. I am pleased to inform you that our smart contracts have undergone rigorous testing and audit by CertiK, a highly reputable third-party auditor specializing in blockchain security.
CertiK conducted a comprehensive audit that encompasses everything from our source code to ensuring logical soundness in our contracts. This meticulous review has fortified the integrity and reliability of MAP Protocolās cross-chain implementation.
We are highly confident in the security of our smart contracts and believe that undergoing an audit by CertiK has significantly contributed to building a more solid and secure foundation for our project within the burgeoning Web3 ecosystem.
For detailed insights and a deeper understanding of the security measures we have in place, you can access the full report on the audit by following this link: CertiK MAP Protocol Audit Report.
About MAP Protocol
MAP Protocol (MAPO) is the omnichain layer for Web3. 100% Nakamoto Style cross-chain communication built on Light-client & ZK technology with zero privileged roles. By connecting both EVM and non-EVM public chains, MAPO empowers dApp developers to thrive in Web3 with a full suite of omnichain SDKs.
