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**Quick Take:**

- Polygon transitioned from the MATIC token to POL, marking a major milestone in its 2.0 roadmap.
- POL enhances fee generation with data availability and decentralized sequencing, features a 2% annual emission rate, and is set to play a central role in Polygon's expanded ecosystem.
- Polygon 2.0 aims to create an interconnected ecosystem of multiple chains with a single bridge, facilitating seamless interoperability.
- The AggLayer is designed to unify Layer 1 and Layer 2 chains, simplify cross-chain transactions, and bring uniform cryptographic security.

On September 4, 2024, following a year of community-driven discussions and consensus, Polygon successfully transitioned from its original MATIC token to POL, now the native token of its network. This migration represents a pivotal step in the Polygon 2.0 roadmap, which aims to transform Polygon into a unified, interconnected ecosystem.

Beyond upgrading the native token for the Polygon PoS network, the shift to POL will expand its utility in future phases, powering Polygon’s vision of an ever-growing network of aggregated blockchains and enhancing scalability across the entire ecosystem.

Today, let's dive into the details of the MATIC to POL migration and explore Polygon's broader vision for its future as a multi-chain network.

### What is POL and Its Key Features

The upgraded POL token introduces new features and a "hyperproductive" system as described by CEO Marc Boiron. Unlike its predecessor MATIC, which mainly earned fees from gas and staking, POL expands fee generation opportunities by incorporating methods like ensuring data availability and decentralizing sequencing.

POL also presents a new emission model with a 2% annual rate, distributed between validators and the community treasury. Validators will benefit from consistent rewards to encourage network participation, while the treasury will support growth initiatives, such as grants, to broaden the ecosystem. This model overcomes a limitation of MATIC, which was constrained by the burning of update keys. POL offers enhanced control over token usage and future development.

As POL progresses, it will be integrated into the broader Polygon ecosystem, strengthening the security of chains within the Polygon aggregated network, known as the AggLayer. The AggLayer aims to create a unified network of chains, facilitating fast and secure cross-chain transactions. With Polygon 2.0's evolution, POL is expected to play a key role in connecting various chains and supporting the network's expansion.

### Current State Of The Migration

In just over a week, more than 7 billion tokens have successfully migrated to POL, accounting for over 70% of the total supply. The market cap of POL has quickly surpassed $2.64 billion, with daily migrations ranging from 5 million to 5 billion tokens. Meanwhile, over 3.2 billion MATIC tokens remain in circulation, holding a market cap of just over $1.21 billion at the time of writing. This rapid migration reflects the community's confidence in the transition and the growing momentum behind POL as the new native token.

### The AggLayer

Earlier, we introduced the concept of the AggLayer, and now it's time to explore it more deeply. The Aggregation Layer (AggLayer) is a key component of the Polygon 2.0 vision that addresses blockchain fragmentation by providing a decentralized protocol acting as a unified bridge for interoperable Layer 1 and Layer 2 chains. It allows sovereign chains to securely share liquidity, users, and state, aiming to create a seamless experience across multiple chains as if interacting with a single one. This approach has the potential to significantly enhance the user experience.

As Polygon envisions it, “In its endstate, the AggLayer will provide a common language for secure, atomic interoperability among heterogeneous chains.” In this context, "atomic" refers to transactions that must be fully completed across all chains or canceled entirely, ensuring security and consistency. This guarantees that users won’t experience partial failures or incomplete transactions when moving assets or data across chains, reinforcing the reliability of cross-chain interactions.

### How It Works

In most multichain Layer 2 ecosystems, transferring assets between chains typically involves multiple bridges connecting each chain to Ethereum. From Ethereum’s perspective, each rollup is essentially a smart contract containing a state root and a verifier to monitor assets. To move assets between chains without third-party bridging services, users often have to withdraw to Ethereum, which can lead to delays — especially on optimistic chains, where a withdrawal could take up to seven days.

The AggLayer aims to change this by using a single bridge contract on Ethereum for all connected chains. Instead of multiple bridges, Ethereum interacts with just one contract, while each chain keeps a local copy of the bridge root. This allows for faster cross-chain transactions without needing to withdraw to Ethereum, making the process simpler and reducing the security risks of using third-party bridges. Additionally, the AggLayer includes a bridgeAndCall() library that lets developers not only transfer assets but also trigger actions on other chains once the assets arrive, streamlining cross-chain interactions for users.

Another crucial element of the AggLayer is its use of Zero Knowledge (ZK) technology. At its core, the AggLayer aggregates ZK proofs from all connected chains, ensuring the security of cross-chain transactions. By leveraging the cryptographic strength of ZK proofs, the AggLayer allows chains within the network to maintain their sovereignty and modularity, all while offering the seamless user experience typically associated with monolithic chains. This combination of decentralization and interoperability sets the foundation for a secure and efficient multi-chain ecosystem.

### Understanding Aggregated Blockchains

Polygon describes Aggregated blockchains as a crucial evolution in blockchain design, moving beyond the limitations of monolithic and modular chains. Initially, monolithic chains handled all aspects of consensus, data availability, and execution within a single ecosystem. While these integrated systems offered unified interoperability, they faced significant limitations. As they scaled, validators required more hardware, leading to centralization and reduced security. Performance issues like state bloat and contention also arose. Moreover, these chains lacked flexibility and customizability for participants.

In response, modular architectures were developed to allow multiple chains to operate independently and in parallel, each maintaining its own sovereignty. This approach improved scalability and design flexibility. However, it also led to fragmented liquidity and user bases, creating inefficiencies in bridging or compromising chain sovereignty.

Aggregation aims to resolve these challenges by merging the advantages of modular architectures — sovereignty and scalability — with the unified liquidity and user experience of monolithic systems. This synthesis creates a more cohesive and efficient multi-chain environment.

### Summing Up

The transition from MATIC to POL marks a significant advancement for Polygon’s network, enhancing both functionality and scalability. Central to Polygon 2.0, the AggLayer addresses blockchain fragmentation by facilitating seamless interoperability among Layer 1 and Layer 2 chains. By overcoming the limitations of both monolithic and modular designs, Aggregation combines the benefits of each, creating a unified and efficient multi-chain ecosystem. This evolution has the potential to not only improve the user experience but also position Polygon for future growth and innovation.

However, while POL’s increased functionality and new emission model offer substantial benefits, it is important to consider potential trade-offs. The expanded capabilities of POL may grant the Polygon team greater control compared to the previous system where keys were burned. Additionally, as the modular architecture is still in its early stages, only time will reveal how effectively the Aggregated approach will integrate and perform in practice. The ongoing evolution of the ecosystem will depend on balancing innovation with core blockchain principles.

Overall, Polygon’s shift towards a more interconnected and scalable framework represents a bold step forward. The coming months and years will be crucial in assessing the real-world impacts of these changes and the effectiveness of the Aggregation model in shaping the future of multi-chain networks.

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How the MATIC to POL Shift and the AggLayer Are Shaping the Future

Polygon 2.0

Traditional social media platforms have their flaws, including data breaches, content moderation issues, and a somewhat relaxed approach to user privacy. These problems have affected major players such as Facebook, Twitter, and LinkedIn. Can blockchain technology and decentralized social networks revolutionize the online experience for billions of users worldwide? Is your data more secure on the blockchain than on centralized servers?

In this article, we will explore decentralized social media networks and consider how they might address the issues that plague traditional platforms.

### Advantages and disadvantages of decentralized social networks

Decentralized social networks tackle many problems faced by traditional platforms but also come with their own set of challenges. Let's explore the advantages and disadvantages of these networks.

**Advantages:**

- **User privacy and security** – Decentralized social networks offer users better security and privacy.
- **Control over your data** – You alone control your data and how it’s used on a decentralized network.
- **Decentralized governance** – A decentralized autonomous organization guides key decisions regarding the growth and development of the platform.
- **Monetization opportunities** – Content creators enjoy alternative monetization methods, instead of relying solely on sponsored posts and advertising.
- **Censorship-resistant** – Decentralized social media networks provide everyone with a platform for free speech. Once a post is shared, only the original poster can remove it.

**Disadvantages:**

- **Web3 UX issues** – Blockchain-based applications still have a high entry barrier. User experience issues can hamstring mass adoption and discourage users.
- **Tough competition** – Existing centralized networks like Facebook and Twitter have monopolized the market, making it difficult to attract new users.
- **Scalability** – Blockchain transaction fees can be expensive.
- **Market volatility** – Because many platforms are tied to supporting cryptocurrencies, bear markets and crypto market fluctuations can devalue a network’s monetization offerings.
- **Censorship-resistant** – Without content moderation, decentralized social media networks can become breeding grounds for unrestrained hate speech and cyberbullying.

### Examples

There are a lot of decentralized social networks — Mastodon, Steemit, Only1, and many others. In this article, we’ll take a closer look at Lens and Farcaster protocols.

**Lens Protocol**

Introduced by the Aave team in 2022, Lens Protocol is a leading decentralized social graph network that offers users exceptional control over their social profiles.

What makes Lens Protocol unique is its completely composable and decentralized approach. Users have the ability to create a Lens handle as an NFT directly in their crypto wallet. These Lens NFTs are not limited to Lens only – they effortlessly integrate with various dApps and smart contracts within the growing LensVerse ecosystem. Additionally, users can trade their Lens NFTs on secondary marketplaces such as Opensea.

Built on the Polygon network, Lens Protocol offers a refreshing experience with low gas fees and swift transactions, ensuring a smooth user experience.

The Lens Protocol ecosystem consists of a range of evolving applications that enhance the capabilities of the decentralized social network. Whether you need secure communication, creative social engagements, or content creation tools, the Lens Protocol ecosystem provides a varied selection of projects to fulfill your requirements.

*Orb*

Orb, an innovative application in the Lens ecosystem, enables users to efficiently handle their social interactions. It provides features for creating, organizing, and managing connections, all while ensuring users maintain ownership of their data.

*Hey.xyz*

Hey plays a crucial role in the Lens Protocol ecosystem by offering a seamless communication platform. It incorporates different social aspects while upholding decentralization principles, guaranteeing the security and privacy of user data.

*Bonsai Token*

Bonsai, a DN-404 token on the Polygon network, was created to integrate with the Lens Protocol. Its purpose is to support community builders, explorers, and early adopters of on-chain social platforms. The token enables a variety of on-chain actions directly from Lens posts and aims to improve social media interaction via DeFi and creative contributions. Part of its tokenomics is dedicated to community airdrops and ecosystem support.

**Farcaster**

Farcaster operates as a decentralized social protocol utilizing Optimism. It enables users to establish profiles, share messages, and engage with one another, similar to popular social media platforms like Reddit or X (formerly Twitter).

Farcaster leverages blockchain technology to securely link and process personal data while upholding decentralization and anonymity. Its primary focus lies in scalability and adaptability to new technologies to maximize user value.

The protocol employs smart contracts to govern social interactions within the network, adding a layer of programmability and customization to social networking. Farcaster's emphasis on interoperability allows for seamless interaction with other blockchain networks, fostering a smooth exchange of information and assets across various platforms.

This interoperability enables developers to construct diverse decentralized social media applications (dApps) on top of the Farcaster protocol.

A Farcaster account creation requires an Ethereum (EVM) address, which will be associated with the account and utilized to sign and publish messages on the Farcaster protocol (as opposed to the traditional username/password approach). Activities such as posts, replies, and follows are recognized as messages of any activity.

User account data, such as profile details, is stored on-chain via a smart contract (e.g., ID Registry) deployed on the Optimism mainnet. Other data, such as Casts, is stored off-chain on Farcaster's storage network named Hubs.

Manageable via ENS on-chain, usernames ensure that users maintain control over their identity compared to centralized entities, which may revoke usernames at their discretion. Any individual can query the ENSRegistry contract to map a username to its custody address.

Users have the ability to create and integrate decentralized applications within their posts (e.g., a mint NFT button, 1-click DAO vote, etc.). These integrations, known as "Frames," must adhere to the OpenGraph to display properly in a Cast. Notable Frames developed by others include @cookies, which developed a seamless checkout experience in a Frame powered by Coinbase Commerce, and $DEGEN, an ERC-20 token distributed to the Farcaster community via the BASE chain.

The absence of a single entity owning the underlying data means that any Farcaster account holder can operate a Farcaster node (also known as a Hub) and access/write data.

Farcaster's distinctive features are upheld by specific smart contracts, each fulfilling unique functions to facilitate the decentralized experience. Moreover, the network features Hubs, which denote open-source, decentralized, distributed peer-to-peer nodes responsible for storing and serving Farcaster data.

### Comparing Decentralized Social Networks to Traditional Social Media

These alternative platforms have a shared objective: to provide users with more control over their content and access rights. Their goal is to distribute storage and control across social networks and establish decentralized structures.

They operate on a peer-to-peer (P2P) model, enabling direct user interaction without reliance on a central authority or server. They are known for being decentralized, open-source, ad-free, and owned by the community.

Decentralized networks prioritize individual ownership and control of data and interactions, empowering users to handle their personal information more effectively. Privacy is a key focus, with reduced data collection, encryption methods, and selective data sharing to improve user experience.

Additionally, decentralized networks aim to combat censorship through distributed content storage, community-driven moderation, and anti-censorship tools. Content on decentralized networks is less susceptible to removal or suppression, promoting freedom of expression.

Both conventional and decentralized social networks have their own benefits and difficulties. Decentralized networks emphasize privacy, user independence, resistance to censorship, and the ability to withstand single points of failure. On the other hand, traditional centralized networks typically offer convenience, a large user population, and a smooth user experience.

Web3 native social platforms are not the sole entities looking to incorporate blockchain technology into their systems, with X and Instagram now providing support for NFTs.

### Conclusion

Decentralized social networks offer a revolutionary model for social engagement, a significant departure from the deficiencies of centralized alternatives. They provide a high level of control, privacy, and independence, enabling self-expression without the restrictions often imposed by traditional platforms. 

Through the adoption of decentralized technology and novel methods for monetizing content, these social media platforms are paving the way for a fairer and user-focused internet experience. Whether you're a creator, an enthusiastic user of social media, or someone seeking a more secure and privacy-oriented online space, exploring these decentralized social media platforms is certainly worthwhile.

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The New Era of Online Privacy and User Autonomy

Decentralized Social Networks

Beyond cryptocurrencies and AI, there's a third innovation that will soon dominate the news cycle and has the potential to change everyone’s life: Zero Knowledge (ZK) Proofs.

So, what exactly is ZK? In short, it's an advanced form of cryptography that allows you to prove a computation’s correctness using only the formula, without knowing the actual data.

Think of a simple example: a + b = c. We don't know the values of a or b, just the operation "+", but we can still prove that c = c.

### **Four Major Problems in IT**

Currently, there are four global challenges that the IT sector is facing:

1. *The Explosive Growth of Information:* The amount of data being created is increasing at a staggering rate. It won’t be long before we might have to cover the entire planet with servers just to store photos, videos, and other data – not to mention the vast amounts being generated by AI.
2. *Proving the Authenticity of Information:* There’s currently no reliable way to prove that information is original. AI can generate content that looks and sounds like the real thing, and there have already been cases of fraud where an AI pretends to be a familiar person. How can we ensure that AI, like ChatGPT, is trained on truthful data?
3. *The Uncertainty of Data Origins:* In an era of endless server growth and varying capacities, the challenge of determining the true source of data becomes increasingly complex. Additionally, what are the costs associated with storing original data?
4. *The Problem of Data Privacy:* At the moment, privacy on the internet is nearly nonexistent. If you wish to do so, you can gather almost any private information on anyone or anything. There are currently no tools or technologies that can truly protect your privacy with code or encryption.

And the answer to all these problems is, of course, ZK-Proofs.

### First Uses of ZK-Proofs

The concept of ZK-Proofs was first put into practical use within the ZCash project, during a period when the community placed great emphasis on privacy in payments. The underlying idea was straightforward: by being able to prove the validity of a transaction without disclosing the identities of the sender or recipient, it was possible to uphold the anonymity that is a fundamental characteristic of cash.

ZCash, which initially implemented ZK-Proofs, has now become largely outdated. Nevertheless, its developers made significant contributions by providing foundational code that paved the way for new opportunities.

Although the appeal of using ZK for solving Problem #4 in identification or authentication has waned over time, it's essential to recognize that for future KYC (Know Your Customer) technologies, there is currently no alternative technological solution. Existing methods such as hashing, caching, or even smart contracts are insufficient in addressing these issues; only ZK-Proofs have the capability to do so.

### ZK Technology and Ethereum

Then there was an effort to integrate ZK technology into the Ethereum platform, but it was not fully successful. Nevertheless, valuable insights were gained from this attempt, similar to what was learned from ZCash. 

The Tornado Cash project, built on ZK Proofs in Ethereum, allowed for anonymous payments through smart contracts. Despite its innovative use of ZK-Proofs, the project was shut down due to legal and regulatory actions. The trend of anonymous payments has faded, but ZK-Proofs were key to enabling this technology.

What’s even more important is that Ethereum’s blockchain has integrated the capability to create and verify ZK-Proof evidence at the protocol level. This development was a major milestone, as it addressed Problem #3: "*The Uncertainty of Data Origins*". Now, any service utilizing ZK-Proofs can leverage Ethereum’s decentralized network to validate computations, transforming Ethereum Layer 1 into a tool not only for generating digital assets like DOGE and PEPE but also for storing global data.

You might think it’s unrealistic — storing data on Ethereum is costly and impractical. But let’s take a closer look.

### Storing Data on Ethereum: The Cost

While exploring Zero-Knowledge (ZK) technology for privacy applications, an additional benefit was discovered: ZK-Proofs have the capability to significantly compress data. For example, through a formula that organizes a photo's pixels into an image, combined with knowledge of the computation result, it is possible to compress a photo from several megabytes to just a few bytes using a ZK Proof.

This level of compression is unparalleled by any other technology. Traditional methods focus on compressing the information itself, but with the ever-growing data on smartphones, the use of a ZK storage device in an iPhone could potentially provide the freedom to capture unlimited photos without even having to pay for iCloud storage.

### Google and Its Investment in Crypto

The recent advancement in ZK technology has positioned it as a potential game-changer due to its ability to achieve maximal theoretical data compression. Major global corporations specializing in data management, such as Google, AWS, and Microsoft, have taken notice of these developments. Research into ZK-Proofs is becoming increasingly essential for these companies as it presents an opportunity to significantly reduce the costs associated with storing media files.

Interestingly, the cryptographic technology crucial for the widespread adoption of crypto and Ethereum is now being developed by major IT corporations. Unlike crypto enthusiasts fighting for a fair Web3, these companies see ZK-Proofs as a practical necessity to reduce server costs for storing photos and videos. It's almost ironic that the key cryptographic technology for mass adoption is being developed by these tech giants, driven by their need to cut costs.

Furthermore, cloud service providers are currently grappling with the challenge of managing data growth by resorting to data deletion. ZK-Proofs, therefore, emerges as the solution for preserving digital assets in the long term. Failure to adopt such measures may result in the eventual deletion of data, including valuable insights and knowledge accumulated over time.

Considering that AI models like ChatGPT are trained on this accumulated data, it is important to contemplate the potential consequences of data loss. In the event of data deletion due to non-payment or other reasons, the ramifications could extend to future AI models, hindering their ability to learn and evolve from the wealth of knowledge that has been erased.

### Your Blockchain, Your Rules: Solving Problems #2 and #3

What's next? Ethereum has introduced technologies like Rollups and Plasma, enabling Layer 2 blockchains and potentially extending to Layer 3, Layer 4, and beyond. If you want to ensure that your photos are genuinely yours and not AI-generated imitations, you can set up your own Layer 34523 blockchain at home to store ZK Proofs of your images. While "Layer 34523" may not sound glamorous, it offers decentralized and secure verification of your privacy and original content on the Ethereum blockchain. Each ZK Proof is validated by higher-level networks before being confirmed by the main Ethereum network. Plus, operating your own blockchain layer could be free, as you control it. Your blockchain, your rules.

Problem #3 is solved with this approach. And if your company sets up the layer to authenticate your news feed, Problem #2 is resolved as well. With personalized blockchains for each user, you could even discover if your Facebook friends are real people — though it might be surprising.

### What’s Next for ZK-Proofs?

What happens if data compression and ZK-Proofs become widespread in our daily lives? A market for ZK-Proofs will likely emerge, and like any free market, you could participate and earn money from it. For example, if you need to compute a ZK-Proof for an image rapidly, you could post an offer on a proving market, and someone with a laptop might take on the task. Alternatively, they might process an entire batch of ZK-Proofs. Such proving markets already exist and are evolving.

As ZK-Proofs continue to integrate into various aspects of technology, their potential for transforming data verification and compression is increasingly apparent. By enabling more secure, private, and efficient ways to manage data, ZK-Proofs could become a significant factor in the future of digital interactions. Whether through personalized blockchains or emerging markets, the broader adoption of ZK-Proofs might reshape how we verify, store, and interact with information, opening new possibilities in privacy and data management.

A Game-Changer for Data Security and Compression

Zero-Knowledge Proofs

Sun Pump, a memecoin generator based on Tron, launched less than two weeks ago and already overtook Pump Fun. So, how did this happen?

### What is Sun Pump

Introduced in mid-August by Justin Sun, the well-known founder of Tron, Sun Pump is a token generator branding itself as the “first meme fair launch platform” on the Tron network. It stands in direct opposition to Pump Fun. The team markets Sun Pump as a platform with “no rug pulls and no team allocation.”

“When every dev can build a community through a fair launch, gain everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of the cryptocurrency,” said Justin Sun.

But how is it different to Pump Fun?

### Sun Pump vs Pump Fun

After debuting on Solana in January, Pump Fun has allowed users to create and launch their own meme coins without technical skills, using a bonding curve pricing model that adjusts token prices based on supply and demand. Originally exclusive to Solana, Pump Fun has expanded to Base and Blast, removed user token deployment costs, and rewards creators with 0.5 SOL when their tokens exceed the bonding curve.

Sun Pump, on the other hand, is not just an alternative platform on a different chain for issuing tokens. The platform boasts a higher rate of token success, with nearly 2% of its tokens transitioning to the Tron’s decentralized exchange, Sunswap, after reaching sufficient trading volumes. In comparison, Pump Fun sees only 1.26% of its tokens move to the Solana exchange, Raydium. This difference suggests that Sun Pump might be more effective at ensuring a higher proportion of tokens achieve long-term value, which is crucial for maintaining trader interest.

According to Dune Analytics, Sun Pump has launched 7,351 tokens and generated $585,000 in revenue on August 21st, while Pump Fun saw 6,701 new tokens created and $366,000 in revenue during the same period.

### Sun Pump Ecosystem

Now, let’s take a look at some of the tokens:

🐶 **SUNDOG**: Currently one of the standout tokens on Sun Pump, SUNDOG has emerged as the de facto mascot of the platform. At the time of writing, it boasts a significant market cap of $191 million, reflecting its prominence and the strong community support it has garnered.

🐷 **FoFar**: Drawing inspiration from Matt Furie’s Boys’ Club, which includes the iconic Pepe character, FoFar features a distinctive red pig design. Despite its more niche appeal, FoFar has made an impression with a market cap of $16.7 million, showcasing its unique place within the ecosystem.

🐱 **SUNCAT**: Where there’s a SUNDOG, you’ll find a SUNCAT! Launched just a week ago, this token has quickly made its mark with a market cap of over $7 million, adding its own touch of excitement to the Sun Pump lineup.

However, the most captivating token to date is SunWukong.

### SunWukong

An anonymous trader on the Tron network invested $1,000 to buy 43.8 million SunWukong tokens. The token’s value surged dramatically after Tron founder Justin Sun updated his profile picture to Sun Wukong, a character from the newly released game *Black Myth: Wukong*, which drew inspiration from the classic *Journey To The West*. This surge pushed the trader’s investment to over $750,000.

The price of SunWukong jumped from around $3,000 to $17 million in less than 12 hours. Although the value has since dropped, the token still holds a market cap of $9.4 million. As of now, the trader hasn’t sold any of their SunWukong tokens, and their holdings are currently worth about $329,000.

### Summary

Sun Pump, a memecoin generator on the Tron network, has rapidly gained popularity since its launch, quickly surpassing Pump Fun. In just under two weeks, Sun Pump has significantly boosted activity on Tron, with active wallets on the network rising to over 2.35 million addresses. While critics argue that memecoins are detrimental to the crypto space, there is significant enthusiasm surrounding them, and they can bring substantial interest and engagement to the market.

The upcoming weeks will be crucial in determining whether Sun Pump can maintain its momentum or if Pump Fun will reclaim its leading position. As always, investors should approach this highly speculative market with caution and conduct thorough research before engaging with these volatile assets.

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Meet Sun Pump

Ever wondered how new improvements make their way into Ethereum? Today, let’s dive into how proposals are made, discussed, and eventually become part of the Ethereum ecosystem — everything you need to know, all in one place.


### So, How Does Ethereum Evolve?

Ethereum’s development process is modeled after Bitcoin’s. While Bitcoin uses BIPs (Bitcoin Improvement Proposals), Ethereum has EIPs (Ethereum Improvement Proposals). These documents outline proposed enhancements to the network, reflecting Satoshi Nakamoto’s influence.

Here’s how it works: If you want to propose an improvement to Ethereum, you go to the dedicated forum at ethresear.ch and write a blog post outlining your idea. Anyone can submit a proposal — there are no restrictions, and no formal format is required. Generally, these proposals come from researchers within the Ethereum community or development teams.

Once a post is up, it’s discussed by the researcher community. They first tackle a crucial question: Should this proposal be integrated into the Ethereum protocol, or is it better suited as a separate product? Most proposals end up as products. If you browse the forum, you’ll find a wealth of innovative ideas for decentralized technologies — ideas that can be developed into new products. Many leading crypto technologies have been discussed here.

If developers decide a proposal could be integrated at the protocol level, someone steps up to draft a document describing the technology — this is the EIP. The EIP must explain what the proposal is, why it’s needed, and how it will improve the network. Technically, it’s a document in a GitHub repository. If no volunteer emerges to create the document, the idea remains on the forum, waiting for attention.

There are now over 8,000 EIPs in total.

### The EIP Discussion and Prototyping Process

Next comes the EIP discussion on the forum. If the community isn’t interested, the proposal might be set aside and forgotten. But if an EIP sparks interest, a developer or team might jump in and say, “We’ll build a prototype!”

The funnel from EIP to EIP with a prototype is roughly 1:10. That means out of 8,000 ideas, about 800 are developed into prototypes of reasonable quality. Often, these prototypes are created by developers from various teams within the Ethereum ecosystem since there’s no direct payment for developing an EIP prototype — it’s a purely non-commercial effort. Occasionally, if an EIP is especially compelling, it might receive a grant, though that’s more of an exception.

If the prototype is completed and the community approves it, the proposal can move forward to implementation. This means the EIP discussions enter the call with All Core Devs. All Core Devs is an assembly of, usually, one developer per Core Dev team of the Ethereum ecosystem. The number ranges at times, but generally, it’s about 10-20 teams that work on the key Ethereum tech.

The goal of these All Core Devs calls is to decide what should be implemented into the network’s protocol next. This should be a conclusive decision, meaning that they should reach a consensus.

### From Ideas to Hard Forks

Ethereum devs gather all the ideas that accumulate over time in EIPs into a massive roadmap, which is often demonstrated by Vitalik Buterin. In this Ethereum Roadmap, there are different directions and work blocks, but under each block, there’s one or more EIP — those very ideas from the forum (Vitalik could write those ideas too).

The All Core Devs team spends a lot of time discussing and gathering EIPs during their calls. These EIPs are then grouped into a package, referred to as a Hard Fork. This list is public, so anyone can view, discuss, and review it. So, the next time you read in a reputable financial publication or hear from Bitcoin maximalists that Vitalik changes Ethereum on a whim, you can argue that it's actually a decision made by the All Core Devs assembly.

Naturally, when deciding which EIPs make it into a Hard Fork, disputes arise. Each team wants their EIP included in the next fork, and it's not uncommon for frustrations to surface when a proposal gets sidelined. There have been instances in Ethereum's history where the All Core Devs didn’t assemble simply because they thought, "What's the point? We'll just end up arguing." So, if there hasn’t been a hard fork in a while, it likely means consensus hasn't been reached.

Researchers often pack as many prototypes into a fork as they can. They didn’t develop all these ideas just to let them sit idle, right? Once the prototypes are in, the All Core Devs teams have to sift through them and narrow down the EIPs. After all, they’re the ones who’ll be responsible for making everything work. Running a network with over a million users involves more than just drafting documents and brainstorming ideas.

### Development and Implementation

To develop complex EIPs, Ethereum conducts offsites, usually once a year. These are internal events where core developers gather for a week or two in a hackathon format to code all the ideas needed. They work on coding, discussing well-thought-out ideas that need a bit more development, and fixing bugs.

There could also be separate themed calls focused on complex or large EIPs. Note that not all core developers know every aspect of Ethereum; that’s likely only Vitalik. Each developer typically has their own area of specialization.

Once it’s decided which EIPs will be included in a fork, the Core Devs team and prototype developers start the implementation into production code. There’s a funnel here — not all planned EIPs can be completed within schedule. In fact, only a small number make it into the hard fork on time and with production-ready quality.

### EIP Politics

And what about politics? If you want the Ethereum community to focus on your specific EIP, you'll need to lobby for it. That’s why many EIPs have their own websites, communities, and thought leaders pushing them on Twitter. It’s hard to say if this strategy works, but anyone can give it a shot.

Some EIPs, by the way, become the very tokens you create, buy, and sell — like the current ERC20 (fungible tokens, similar to currencies), ERC721, and ERC1155 (tokens for unique assets). So, out of over 8,000 ideas, only three have become global token standards. Right now, the community is working on creating economic tokens, dividend tokens, revenue-sharing tokens, and other protocols that distribute money. When developers solve this problem at the standard level, it could significantly improve all our lives.

The most promising innovations for mass adoption — Ethereum wallet accounts linked to regular Web2 email addresses and the Account Abstraction technology — are the standards ERC 4337 and ERC 7579.

### Summing Up

In essence, the foundation of many cutting-edge fintech developments worldwide can be traced back to specific ideas within the Ethereum ecosystem. These ideas are meticulously documented through Ethereum Improvement Proposals (EIPs), each representing a potential advancement for the network. The significance of EIPs goes beyond the written proposals; they are part of a broader, collaborative process where the community actively participates in shaping the future of Ethereum.

Interestingly, the discussions that lead to these innovations are often public. Platforms like YouTube host real-time debates where developers dissect and deliberate over various EIPs, offering transparency and insight into the decision-making processes that drive Ethereum forward.

This collaborative and decentralized approach explains why Ethereum remains a top network in the blockchain space. 

**This text is a free rewrite of a pitch about Ethereum development from one of its developers.*

Ethereum EIP.png

Ethereum Improvement Proposals

In 2024, the Metaverse might not be making headlines as it once did, but it's far from stagnant. This ever-evolving digital realm continues to reshape the way we connect, work, and play, offering endless possibilities for creativity, collaboration, and commerce.  While we’re still far from fully merging metaverses into our daily lives, staying informed on its progress is key to unlocking the potential it holds for all of us.

### The Term

The term “Metaverse” was first coined in Neal Stephenson's 1992 cyberpunk novel *Snow Crash*, combining "meta" and "universe." Essentially, it describes a shared, online virtual space where users can interact with each other and their environment in real time. This concept transcends physical reality, enabling users to explore virtual worlds, engage in various activities, and create and trade digital assets.

A recent [report](https://analytics.dappcraft.io/) by DAPPCRAFT highlights that "the term Metaverse is not yet well-defined, which potentially introduces cognitive biases when using this term." 

According to the report, a “Metaverse” is a digital virtual environment that: 

1. Offers its participants tools for creating new virtual environments and assets that are not required to be connected to each other stylistically or by a common story; 

2. Allows transition between worlds created by other participants (via teleports or open-world model).

The report also attributes the following features to metaverses: support for blockchain technology, public access, and a distinction from traditional games. 

It’s important to recognize that the term "Metaverse" can refer to two different concepts. On one hand, it can describe a broad virtual universe, comprising various interconnected metaverse projects and platforms, each contributing to a larger digital ecosystem. On the other hand, "Metaverse" might also denote a specific virtual world created and managed by a dedicated team, with its own unique features, rules, and experiences.

### Prominent Metaverse Projects

Now that we've clarified the definition, let’s explore some of the standout projects in the Metaverse space: **The Sandbox**, **Decentraland**, and **Oncyber**. 

**The Sandbox** is a vibrant universe on the Ethereum blockchain, where NFTs represent unique digital assets. LAND, its fundamental unit, is an ERC-721 NFT measuring 96 meters by 96 meters. Owners can terraform and customize their LAND, with over 115,850 of the 166,464 total LANDs already minted by a decentralized community of more than 23,500 members. The Sandbox offers a dynamic platform for creating, sharing, and monetizing virtual experiences. To dive into The Sandbox, create an account on their [website](https://www.sandbox.game/) via Web3 wallet, email, or Google, then select "Play" to explore active events and download the game client.

**Decentraland** is a decentralized virtual world on the Ethereum blockchain where the community drives the experience. Its virtual city, Genesis City, consists of LAND parcels that can be bought, sold, and rented through the Decentraland Marketplace. The platform operates under community governance, with open-source code allowing continuous improvements and hosting by users. Creators design Wearables and Emotes, earning from sales and supporting community grants. Explore daily events or contribute your own by creating an account on their [website](https://decentraland.org/) via Web3 wallet, email, or a social media account.

**Oncyber** makes creating 3D browser games and experiences easy and accessible. With its intuitive interface, you can build and share 3D environments directly in your browser with just a few clicks. Oncyber supports custom scripting for unique interactions and includes automatic performance enhancements such as LOD and asset optimization. A marketplace for assets is coming soon, and you can collaborate with others by sharing a link to your space. Explore the possibilities of Oncyber and get started by checking out the [Getting Started Guide](https://docs.oncyber.io/guides/getting_started).

### More Metaverses

If you're interested in diving deeper into the metaverse, there are many more exciting projects to check out beyond the ones we’ve just covered. The DAPPCRAFT report provides a broader comparison, including platforms like **Substrata, Spatial, Hyperfy, Voxels, SomniumSpace,** and **Monaverse**. Here's a snapshot of how they stack up:

- **Community Activity**: The leaders in community engagement are The Sandbox, Decentraland, Voxels, and Oncyber. Spatial has a strong Discord presence with 18,432 members.
- **Player Activity**: Substrata and Oncyber take the lead in terms of concurrent users, showing high engagement levels.
- **Customization**: Decentraland and Substrata stand out with their fully open-source platforms, offering extensive customization.
- **Web3 Compatibility**: Decentraland, Sandbox, and SomniumSpace integrate deeply with the Web3 ecosystem, each having their own tokens.
- **Decentralization**: All these projects support permissionless scene deployment, with Decentraland and Sandbox also being governed by DAOs.

These platforms each offer unique features and experiences, giving you plenty of options to explore and find the metaverse experience that best fits your interests.

### Benefits of Metaverse Adoption

As we delve into the potential of the metaverse, it becomes clear that its adoption offers transformative benefits across various sectors. In social interactions, the metaverse creates immersive environments where individuals can connect and engage more deeply, transcending geographical boundaries. Whether attending virtual concerts or exploring digital worlds together, these shared experiences foster a sense of community, even when physical gatherings are restricted, as seen during the COVID-19 pandemic.

In the workplace, the metaverse has the potential to revolutionize how we collaborate. Virtual reality (VR) and augmented reality (AR) technologies enable remote working environments that are more interactive and engaging, enhancing productivity and creativity. Virtual meeting spaces can simulate in-person collaboration, making remote work more dynamic. Similarly, in education, the metaverse can offer more personalized and immersive learning experiences, catering to different learning styles and increasing accessibility to quality education.

### Conclusion

The metaverse is still in its early stages, but its potential to reshape social interactions, work environments, and education is undeniable. The projects and innovations discussed here are just the beginning, and the future of the metaverse holds even more opportunities for creativity, collaboration, and growth. As this digital landscape continues to evolve, it will likely play a central role in how we connect, work, and learn in increasingly immersive and dynamic ways.

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The Metaverse in 2024

Despite the ups and downs in the market, NFT technology continues to evolve and impact various industries. While the crypto community is already familiar with digital art and gaming NFTs, music NFTs are emerging as another significant area. Today, we'll explore what music NFTs are and how they are reshaping the relationship between artists and their audiences.

### Music NFTs: What Are They?

Music NFTs (Non-Fungible Tokens) are unique digital items representing ownership of music or music-related content. This includes access to music platforms, concert tickets, and more. Stored on blockchains, these NFTs ensure each token is one-of-a-kind and cannot be replicated. You can view music NFTs in NFT-compatible wallets or on various NFT platforms, which we'll explore further later.

Music NFTs come in various forms. Some focus solely on music, offering unique songs or audio files as digital items. Others combine music with visuals, adding interactive and dynamic elements. Finally, some NFTs enhance the fan experience by offering exclusive access or perks, deepening the connection between artists and their audiences.

**How They Work:**

- Artists create digital music or related content.
- They mint (create) NFTs on a blockchain, making each piece unique.
- Fans buy these NFTs, gaining ownership and exclusive rights.

### What’s in It for Fans

Music NFTs offer fans exciting benefits, such as better engagement and investment opportunities. Fans can connect more closely with their favorite artists through exclusive content and experiences that aren’t available elsewhere. This might include special releases, behind-the-scenes access, or direct interactions with the artists, making fans feel more involved.

In addition to this closer connection, music NFTs also provide investment potential. Owning rare or limited-edition NFTs can be profitable, as their value may increase over time. Fans who buy early can enjoy the pride of supporting artists from the start and potentially benefit financially as the artist's popularity grows.

### Empowering Artists

For artists, music NFTs offer diverse possibilities for independent growth and engaging with their communities.

**Authenticity and Ownership:** Music NFTs ensure genuine ownership of digital music, protecting artists' rights and intellectual property. This technology guarantees that each piece of music is unique and can't be copied, giving fans a secure way to own digital music.

**Royalties:** Smart contracts in music NFTs allow artists to earn royalties every time their NFT is resold. This means that whenever an NFT is sold, the artist gets a percentage of the sale, ensuring they benefit from their work's growing value.

**Direct Fan Engagement:** Additionally, music NFTs help artists connect directly with their fans. Artists can offer exclusive content and unique experiences, creating a closer bond with their audience.

### Platform Spotlights

Music NFTs caught your eye? Then let’s take a look at some of the platforms where you can find and explore them:

- **OpenSea**

As the largest NFT platform, OpenSea also features Music NFTs. To explore them, simply click on the [Music](https://opensea.io/category/music) category in the main navigation bar.

- **Sound.xyz**

Sound.xyz is dedicated to music and lets you dive into Music NFTs as soon as you visit their [website](https://www.sound.xyz/). They regularly host drops and events to keep the community engaged.

- **Gala Music**

Gala Music, part of the renowned Gala Games, is a Web3 music platform with its own token, Gala Music (MUSIC). Explore tracks and drops directly on their [website](https://music.gala.com/) or through their mobile app.

- **Beatport.io**

Beatport.io is a specialized platform focusing on electronic music, developed by the well-known DJ store Beatport. You can view digital collectibles on their main page [here](https://beatport.io/), and they feature their own NFT collection called Synth Heads.

### The Future of Music NFTs

Music NFTs are gaining momentum and transforming the music industry in exciting ways. They provide established artists with new revenue streams and opportunities to engage with their fans. At the same time, they offer emerging artists a platform to gain initial popularity through NFT drops and exclusive content.

Despite this promising growth, the NFT space is still predominantly focused on digital art and gaming. As Music NFTs continue to evolve, it will be fascinating to see how they carve out their own space and influence the broader NFT landscape. Keep an eye on this trend, as it has the potential to reshape how we experience and support music.

**Please note, the views expressed in this article are not financial advice. It is essential to conduct your own research before making any investment decisions*

Left img.png

The Rise of Music NFTs

### What Is Tap-To-Earn

T2E (Tap-to-Earn or Tap-2-Earn) is a type of crypto game where users earn rewards just by tapping the screen. These games combine simple gameplay with the potential to earn cryptocurrency, making them both engaging and rewarding. Developers often enhance these games with features like intriguing storylines, various upgrades, and special events to create a more immersive experience.

### Evolutionary Step In Web3 Gaming

Web3 gaming has been part of the crypto scene for a while, with early projects like Axie Infinity, Sandbox, and Stepn leading the Play-to-Earn (P2E) trend during the bull market of 2020-2021. However, these games faced challenges during the crypto winter due to their complexity, high entry costs, and the need for players to understand Web3 functionality.

The introduction of Notcoin changed the game by offering a simpler way to earn tokens through a tap-to-earn system. Its ease of use and earning potential quickly caught on, especially with its integration into Telegram's TON ecosystem, which has millions of users. Following Notcoin's success, other Tap-to-Earn (T2E) games have appeared, each bringing its own take on combining simplicity with earning.

### 5 Notable Tap-To-Earn Games

- 🐹 Hamster Kombat — the most popular tap-to-earn game at the moment that allows players to take on the role of the CEO.
- 🧬 TapSwap — a tap-to-earn game similar to Notcoin with some additional functionality.
- 👾 PixelTap — players receive rewards by tapping the screen, completing quests, and taking part in battles set in a cyberpunk-themed world.
- 🐱 Catizen — a bit more complicated than a usual tapper, Catizen sure is to interest anyone who likes either cats or resource management.
- 🪙 YesCoin — one of the most straightforward and casual tap-to-earn games.

### Tap-To-Earn Gameplay

Most tap-to-earn games share a few core elements. Players typically tap a coin or icon at the center of the screen to earn points. They can continue tapping until their energy bar is depleted, after which they must wait for it to refill before resuming. These games often include tasks, boosters, and upgrades. Tasks may involve actions like joining a community channel or following on social media to earn points. Boosters provide temporary benefits, like refilling the energy bar or increasing point earnings, and are usually available for free each day.

Social mechanics are also common, encouraging players to invite friends for bonuses when reaching certain milestones. Many games offer a percentage of points earned by referrals as an ongoing reward. Upgrades vary but generally enhance point earnings per tap, increase the energy limit, or speed up energy replenishment. Additionally, many games feature a “Tap-Bot” that automates tapping, allowing players to earn passively even when the app is closed.

### Impact

Tap-to-earn games are reshaping the landscape of Web3 gaming by making it more accessible and engaging. Their straightforward mechanics and rewarding experiences appeal to both seasoned crypto enthusiasts and newcomers alike. By lowering the entry barriers and simplifying the earning process, these games help bridge the gap between traditional gaming and cryptocurrency. As T2E games continue to evolve and attract a broader audience, they might play a crucial role in driving the widespread adoption of blockchain technologies. With their blend of simplicity and reward, tap-to-earn games are set to pave the way for the future of interactive and immersive digital experiences.

Tap Into Tap-To-Earn

**Teleports Are Real: TON Teleport BTC Unveiled**

The Open Network (TON) Foundation, which manages the Telegram-centric blockchain network TON, has announced new infrastructure aimed at enhancing Bitcoin utility on the platform.

This new infrastructure, known as TON Teleport BTC, facilitates transfers between Bitcoin and TON. Its goal is to expand Bitcoin's use cases within the TON ecosystem, particularly for decentralized exchanges, lending protocols, and other DeFi applications.

**Functionality**

TON Teleport BTC facilitates the transfer of Bitcoin between the Bitcoin blockchain and TON without relying on central intermediaries. The system is designed to be trustless, enhancing security and autonomy. Here's a breakdown of how it works:

- Users send their BTC to a unique Bitcoin address.
- Once the Bitcoin transaction is confirmed, an equivalent amount of BTC is issued to the user’s address on the TON Blockchain.
- Users can then utilize these BTC tokens in various decentralized applications (dApps) on TON or redeem them for BTC on the Bitcoin network.
- For the reverse process, users burn their BTC tokens on TON, which triggers the release and return of their BTC on the Bitcoin blockchain.

**Benefits**

TON Teleport BTC will significantly enhance the DeFi integration within the TON Blockchain. By enabling new Bitcoin-based financial mechanisms and products, such as decentralized exchanges (DEXs), lending platforms, and advanced wallet services, Bitcoin will be transformed from a mere stored asset on TON into a tool for generating additional returns. 

This integration sets a precedent for future systems that could link TON with other EVM-compatible networks, demonstrating the potential for wider blockchain connectivity.

**Impact**

When implemented, TON Teleport BTC will be a major technical achievement, contributing to a more connected and efficient global blockchain ecosystem. It offers a decentralized, secure, and transparent method to integrate Bitcoin into the TON Ecosystem without centralized intermediaries, ensuring there is no censorship or control over asset flow. 

TON Teleport BTC is not just a technological advancement; it's a vital step toward realizing a more connected and innovative Web3 environment. By bridging Bitcoin to TON in a trustless manner, the project paves the way for a new era of connectivity and innovation within the blockchain space. This exciting development promises to push the boundaries of what’s possible in the decentralized world, offering transparency and autonomy for all users.


区块链	22
DEX	819
池	3,526,805
代币	2,209,331
农场	4,761
NFTs	即将推出...

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