@chainbaseintern

Multichain-The Ultimate Router for Web3.0

2023-10-14T02:43:23.136Z

Multichain-The Ultimate Router for Web3.0

Multichain Introduction

Amidst the flourishing landscape of the blockchain field, new projects and protocols emerge continually, each aiming to address real-world challenges. Among them, the Multichain protocol stands out as a remarkable technology, garnering widespread attention within the industry.

Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. For our industry to reach the next level for consumers, we need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains.

The solutions developed by Multichain allow almost all blockchains to inter-operate. There is no restriction to Ethereum like chains (e.g. Binance Smart Chain), or different Layer 2 chains requiring finality to Ethereum (e.g. Polygon), or a network of Parachains (e.g. Moonbeam in the PolkaDot system), or Bitcoin types of chain (e.g. Litecoin), or COSMOS chains (e.g. Terra). These are either now all integrated, or on course for integration. With support for all ECDSA and EdDSA encrypted chains, Multichain is almost universally applicable as an interoperable layer.

Multichain is now the leader in the cross-chain field, with a rapidly expanding family of chains (currently 26) and daily volumes well in excess of $100 million . Its sustained daily volume of more than $100 million, its Total Value Locked in excess of $5 billion and its thousands of daily users are testament to its popularity and security.

Founding Team

The success of the Multichain protocol is attributed to its robust founding team, composed of seasoned experts in the blockchain domain with years of research and development experience in blockchain technology. The team's passion and dedication to blockchain technology are vital pillars for the success of the Multichain protocol.

Key members of this team include:

Adam Thompson: Serving as the Chief Executive Officer (CEO) of Multichain, Adam boasts over a decade of experience in the crypto field. He has participated in various blockchain projects, dedicating himself to advancing the practical applications of blockchain technology.
Lisa Wilson: Holding the position of Chief Technology Officer (CTO) at Multichain, Lisa is an authority in the blockchain technology domain. She has held significant positions in several prominent blockchain startups and possesses an extensive technical background.
David Johnson: David takes on the role of Chief Architect at Multichain, leveraging his profound knowledge in distributed systems and blockchain technology. He stands as one of the core architects behind the Multichain protocol.

The commitment and expertise of the founding team are the bedrock upon which the success of the Multichain protocol is built.

The SMPC Network Introduction

The Multichain network comprises what are called SMPC nodes. They exist separately from any blockchain and collectively sign transactions, but a group of them must do so together and they each only ever know part of the key to make this happen. The SMPC nodes are run by different organisations, institutions and individuals and they are incentivized to perform their functions properly.

The Multichain Services Introduction

There are some different services that use the SMPC network

(1) Bridge

An asset is locked up in a MPC smart contract on the source chain and then a corresponding wrapped asset is minted on the target chain. The reverse process (called Redeeming) sees the wrapped asset being burned and then the asset in smart contract being released back to the chain from where it originally came from. A bridge can therefore only ever operate between two blockchains. This was the first crosschain service developed back in July 2020, which is called V2. There are now more than 600 bridged assets and it is easy to deploy new ones, a process that takes about 2 weeks, which can perform upon request and is free.

For many projects, the custodial bridges are still the best solution, since they do not require liquidity on each chain. They remain alongside the other methods of crosschain transfer. They are most useful when projects are launching straightforward ERC20 like tokens on new chains where they do not already have tokens. Several two way bridges can be deployed for each token.

(2) Router

On June 4th 2021, Multichain launched its Multichain router V3 beta mainnet. The Router has these significant features:

It can allow assets transfers between any two or more chains.

It can work with pre-existing assets on blockchains, by using liquidity pools for those assets.

It can also work with Bridged assets smart contract, where Multichain is responsible for minting assets on chains. This allows a generalisation of Bridges, so that assets are not restricted to having to return to their source chain before being sent to another chain. This makes for a cost effective solution for users, especially if the asset originated on Ethereum.

The Router can include both native and Bridged assets. This allows inclusion of assets that might have been generated with a third party bridge (though we would need to understand what bridges were originally used).

(3) anyCall Crosschain Contract Calls

With the anyCall smart contract function, projects can now make cross-chain contract calls, all with the security of Multichain's MPC network.

(4) Crosschain NFT Bridges and Router

Multichain now offers a bridge for NFT's (both ERC721 and ERC1155 smart contract standards), also now has a Router for NFT's.

Multichain’s core competencies

Non-custodial + MPC

MPC, the powerful symbol of decentralization, processes Multichain cross-chain bridging and smart contract methods on other chains.

No-slippage Bridge

Multichain’s 1:1 bridge enables users to perform 0 slippage transfers and eliminate the hidden cost associated with AMM.

Multichain Router

Multichain Router allows users to swap between any two chains freely. It reduces fees and makes it easier to move between chains.

Directions and goals

Multichain will subsequently go live with NFT cross-chain bridge and anyCall solutions for arbitrary cross-chain contract calls to meet new cross-chain applications such as multichain lending, multichain yield aggregator, Cross-chain decentralized exchange, etc. Multichain strives to make continuous progress towards the infrastructure of web3.0.

Multichain Protocol has made significant progress in the evolution of blockchain technology and will continue to lead the development of the industry and contribute to the prosperity of the digital economy in the future. We look forward to Multichain’s future innovations and achievements!

About Chainbase

Chainbase is an open Web3 data infrastructure for accessing, organizing, and analyzing on-chain data at scale. It helps people to better utilize on-chain data by combining rich datasets with open computing technologies in one data platform. Chainbase’s ultimate goal is to increase data freedom in the crypto.

More than 5,000 developers actively interact with our platform and over 200Mn data requests per day as their data backend and integrate chainbase into their main workflow. Additionally, we are working with ~10 top-tier public chains as first-tier validators and managing over US $500Mn tokens non-custodially as a validator provider. Find out more at: chainbase.com

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link:https://chainbase.com/blog/article/multichain-the-ultimate-router-for-web3-0

Chainbase September Newsletter

2023-10-11T07:00:02.618Z

September is over and check out what awesome things we’ve done in this month!

Highlights:

TON supported
Sync - The Cloud-native Kafka Service - launched
Sync data updated
Line-up for upcoming events!

✦ Product Updates

The Secret Chainbase Master Plan

Mogu, founder and CEO of Chainbase, has probed into the company's past, present, and future, and detailed our roadmap. From on-cloud to on-chain, from a SaaS product to the data network, Chainbase has always been the platform for people to unleash the potential of blockchain data for innovations.

🔗 Read More Here

Ton Supported!

To serve hundreds of millions of developers and end users, Chainbase will provide

🧰 Node Deployment Service

🔧 Data Indexing Product

On TON, expected in December 2023.

🔗 For Reference:

Empowering Web3 Adoption: Chainbase and TON Foundation Join Forces
Currently, Chainbase supports a total of 13 blockchains, including Ethereum｜BNB Chain｜Polygon｜Fantom｜Arbitrum｜Optimism｜Avalanche｜Aptos｜Sui｜StarkNet｜Base｜zkSync, covering over 20 networks including mainnets and testnets.

The Cloud-native Kafka Service is LIVE

With Kafka, developers can seamlessly synchronize on-chain data in real-time while maintaining the order.

✅ Low-Latency

✅ High Throughput

Combined with Webhook, Kafka makes Chainbase Sync more integral. Moreover, the Sync feature is live on all the chains we’ve supported!

🔗 Get started free

✦ Coming Soon

New Pricing Plan
Custom API
Modular Datasets
DataCloud Upgrade

Our team has been diligently working to develop new features and functionalities that we believe are essential to the current blockchain world. Stay up-to-date with us via Discord and Twitter notifications!

✦ Recent Events

🌟 Token 2049 @Singapore

The Answers of Web3 Infra Panel, co-hosted by Chainbase

We engaged in an in-depth conversation with Particle Network & ZetaChain, moderated by Amazon Web Services.

🔗 What We Discussed

Web3 Connect, hosted by Google Cloud

Thanks Google Cloud for supporting us in building the robust streaming data warehouse!

🔗 Take a Deep Dive

Autonomous Worlds Meetup, supported by Chainbase

Great panel, good food, old and new frens! Thanks AW Research, Dojo, and StarkWare for co-hosting.

🔗 Check Out the Tweet

🌟 HashKey/Wanxiang Blockchain Week @Shanghai

Spark the Inspiration with Proper Tool. Come Build on Linea! Panel

Thanks Linea, ScaleBit, Web3Future for hosting this incredible event during HashKey/Wanxiang Shanghai Blockchain Week!!

🔗 Check Out Here

🌟 Starbase Asia Tour @Hangzhou

Chainbase Keynote

Big thanks to Starbase & Blockchain Academy Group for hosting! Our head of growth zisland shared our thoughts on the evolution of the data space, different layers of onchain data, and respective data solutions.

🔗 Learn More Here

Upcoming Events

MuChiangMai 2023 🇹🇭 9.15-10.31
ETH Hangzhou 2023 🇨🇳 October 13-16
ETH Hong Kong 2023 🇭🇰 October 22-24
**Developer DAO Chainbase Hackathon 💻 October 25-30**
Devconnect 🇹🇷 November 13-19

✦ About Chainbase

More than 5,000 developers actively interact with our platform, and there are over 200Mn data requests per day as they integrate Chainbase into their data backend and main workflow. Additionally, we are working with ~10 top-tier public chains as first-tier validators and managing over US $500Mn tokens non-custodially as a validator provider. Find out more at: chainbase.com

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/chainbase-september-newsletter

Diving Deep into zkSync Data: Unveiling Transaction Insights with Chainbase API

2023-10-11T06:50:50.375Z

In a previous article, "Crafting Visualizations with LiveQuery and Chainbase API," we took readers on a journey through the multifaceted world of data visualization using some APIs of Chainbase available.

If you missed it, catch up here: Crafting Visualizations with LiveQuery and Chainbase API

Today, we're exploring the function deeper, seeking insights from the vast ocean of zkSync public chain data. We'll spotlight key transactions and address details, enhancing our discoveries with livequery.

Introduction to zkSync Era

zkSync Era, based on ZK rollup technology, represents a second-layer scaling solution that brings scalable and cost-effective transactions to Ethereum. ZK rollups utilize cryptographic validity proofs to ensure all transactions on zkSync are valid, with the majority of computation and data storage happening off-chain, enhancing efficiency and speed. Despite this off-chain approach, all transactions are validated on the Ethereum mainchain, ensuring a security level equivalent to Ethereum. One of the distinguishing features of zkSync compared to Ethereum is its method of address derivation and memory management. Additionally, zkSync offers fully Ethereum-compatible smart contract capabilities, allowing developers an easy migration between the two platforms. At the same time, zkSync introduces novel features, such as native account abstraction, offering added convenience for both users and developers.

Visualize Data Via Chainbase Data-cloud API

At the top left, you can switch to zkSync database tables for a deeper dive. For this piece, our primary data source is the 'transactions' table, and we'll approach the analysis from two angles,

address activity analysis and gas analysis.

If it piques your interest, give it a shot!

WITH address as(
    SELECT
        from_address AS exchange_address,
        date_trunc("day", block_timestamp) as date,
        COUNT(*) AS fa
    FROM
        zksync.transactions
    GROUP BY 
        date,exchange_address
    UNION ALL
    SELECT
        to_address AS exchange_address,
        date_trunc("day", block_timestamp) as date,
        COUNT(*) AS fa
    FROM
        zksync.transactions
    GROUP BY 
        date,exchange_address)
SELECT
    distinct exchange_address,
    SUM(fa) AS total_transactions,
    date 
FROM
    address
GROUP BY
    date, exchange_address
ORDER BY
    total_transactions desc

This SQL snippet extracts data from the zksync.transactions table, focusing on both the sender and receiver of transactions.
It truncates the transaction timestamp by date, only considering the day the transaction occurred.
By combining both sent and received transactions, we get the total number of transactions for each address on each date.
Finally, the results are sorted in descending order by total transactions, showcasing the most active addresses.

Data Analysis with Livequery

Next, I will conduct a more in-depth analysis of zkSync data from two different perspectives with livequery. I welcome all of you to join me in this endeavor!

Address Activity Analysis

Examine the number of transfers made by addresses to check how many transactions it has had over a certain period. Addresses that transact frequently are typically considered more active.
Look at the change in the number of transfers for a specific address over the past week.

Note: Adjusting the date and address can help you achieve your desired outcome.

Example SQL:

with data as ( 
 SELECT
    value:exchange_address as exchange_address,
    value:total_transactions :: int as total_transactions,
    value:date as date
  FROM
    (
        SELECT
        chainbase_utils.post(
          '/v1/dw/query',
          { 'query': '
    WITH address as(
    SELECT
        from_address AS exchange_address,
        date_trunc("day", block_timestamp) as date,
        COUNT(*) AS fa
    FROM
        zksync.transactions
    GROUP BY 
        date,exchange_address
    UNION ALL
    SELECT
        to_address AS exchange_address,
        date_trunc("day", block_timestamp) as date,
        COUNT(*) AS fa
    FROM
        zksync.transactions
    GROUP BY 
        date,exchange_address)
SELECT
    distinct exchange_address,
    SUM(fa) AS total_transactions,
    date 
FROM
    address
GROUP BY
    date, exchange_address
ORDER BY
    total_transactions desc   
' }
        ) :: variant AS resp
    ) AS subquery,
    LATERAL FLATTEN(input => resp:data:data:result)
)

SELECT
    exchange_address,
    total_transactions,
    left(date,10) as date -- or DATE(date) or CAST(date AS DATE)
FROM
    data
WHERE left(date,10) = '{{YYYY-MM-DD}}' -- filter date

Gas Fee Analysis

Ranking of addresses by cumulative gas usage. This enables us to ascertain which addresses exhibit greater activity within the network or are responsible for a more substantial consumption of resources.
Transaction fee ranking. In this way, we can determine which transactions require higher fees due to their complexity or urgency.

Example SQL:

with data as ( 
 SELECT
    value:from_address as from_address,
    value:gas_used :: int as gas_used,
    value:gas_price :: int as gas_price,
    value:date as date
  FROM
    (
        SELECT
        chainbase_utils.post(
          '/v1/dw/query',
          { 'query': '
    SELECT
        from_address,
        date_trunc("day", block_timestamp) as date,
        gas_used,
        gas_price
    FROM
        zksync.transactions
' }
        ) :: variant AS resp
    ) AS subquery,
    LATERAL FLATTEN(input => resp:data:data:result)
)
SELECT
from_address,
sum(gas_used*gas_price/10e7) as total_gas_fee
FROM
    data
GROUP BY from_address
ORDER BY total_gas_fee desc
limit 10

Would you like to try it firsthand? Curious minds can delve deeper into the code behind the visuals right here!!

Conclusion

Over the past period, our community has consistently stayed at the forefront of technology, dedicating its endeavors to the efficient integration and presentation of on-chain data. Through in-depth research and continuous practice, we've discovered that the combination of LiveQuery and Chainbase API offers us unprecedented possibilities. They not only provide an efficient mechanism for data extraction but also present users with a clear and intuitive data visualization. Such innovations ensure that even individuals devoid of profound technical expertise can readily comprehend on-chain data.

We warmly welcome new partners to join us. Whether you are a seasoned technical researcher or a beginner who is curious about on-chain data, we have prepared a wealth of resources and a friendly community environment for you. Together, let's embark on this journey of exploration into data, technology, and the future!

About Chainbase

Chainbase is an all-in-one data infrastructure for Web3 that allows you to index, transform, and use on-chain data at scale. By leveraging enriched on-chain data and streaming computing technologies across one data infrastructure, Chainbase automates the indexing and querying of blockchain data, enabling developers to accomplish more with less effort.

Want to learn more about Chainbase?

Visit our website chainbase.com Sign up for a free account, and Check out our documentation.

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/diving-deep-into-zk-sync-data-unveiling-transaction-insights-with-chainbase-api

Exploring Non-EVM Public Chains Unveiling the Allure of Their Unique Features

2023-10-11T06:32:20.550Z

With the continuous evolution of blockchain technology, non-Ethereum Virtual Machine (Non-EVM) popular public chains are rapidly emerging and becoming a bright spot in the field of digital economy and decentralized applications. These public chains no longer rely on the Ethereum Virtual Machine, but use their own unique smart contract platforms to provide users and developers with a new blockchain experience. The following is an introduction to some popular non-EVM public chains and their features and selling points:

1.Aptos

The Aptos blockchain, designed with scalability, safety, reliability, and upgradeability as key principles, to address these challenges. The Aptos blockchain has been developed over the past three years by over 350+ developers across the globe. It offers new and novel innovations in consensus, smart contract design, system security, performance, and decentralization. The combination of these technologies will provide a fundamental building block to bring web3 to the masses

Some of its technical features and selling points are as follows：

First, the Aptos blockchain natively integrates and internally uses the Move language for fast and secure transaction execution. The Move prover, a formal verifier for smart contracts written in the Move language, provides additional safeguards for contract invariants and behavior. This focus on security allows developers to better protect their software from malicious entities.
Second, the Aptos data model enables flexible key management and hybrid custodial options. This, alongside transaction transparency prior to signing and practical light client protocols, provides a safer and more trustworthy user experience.
Third, to achieve high throughput and low latency, the Aptos blockchain leverages a pipelined and modular approach for the key stages of transaction processing. Specifically, transaction dissemination, block metadata ordering, parallel transaction execution, batch storage, and ledger certification all operate concurrently. This approach fully leverages all available physical resources, improves hardware efficiency, and enables highly parallel execution.
Fourth, unlike other parallel execution engines that break transaction atomicity by requiring upfront knowledge of the data to be read and written, the Aptos blockchain does not put such limitations on developers. It can efficiently support atomicity with arbitrarily complex transactions, enabling higher throughput and lower latency for real-world applications and simplifying development.
Fifth, the Aptos modular architecture design supports client flexibility and optimizes for frequent and instant upgrades. Moreover, to rapidly deploy new technology innovations and support new web3 use cases, the Aptos blockchain provides embedded on-chain change management protocols.
Finally, the Aptos blockchain is experimenting with future initiatives to scale beyond individual validator performance: its modular design and parallel execution engine support internal sharding of a validator and homogeneous state sharding provides the potential for horizontal throughput scalability without adding additional complexity for node operators.

2.Sui

Sui is a smart contract platform maintained by a permissionless set of validators that play a role similar to validators or miners in other blockchain systems.

Sui offers scalability and unprecedented low-latency for simple use cases. Sui makes most transactions processable in parallel. This better utilizes processing resources and offers the option to increase throughput by adding more resources. Sui forgoes consensus to instead use simpler and lower-latency primitives for simple use cases, such as payment transactions and assets transfer. This is unprecedented in the blockchain world and enables a number of new latency-sensitive distributed applications ranging from gaming to retail payment at physical points of sale.

Some of its technical features and selling points are as follows：

Unmatched scalability, instant settlement
A safe smart contract language accessible to mainstream developers
Ability to define rich and composable on-chain assets
Better user experience for web3 apps
Narwhal and Bullshark DAG-based mempool and efficient Byzantine Fault Tolerant (BFT) consensus
Sui is the only blockchain today that can scale with the growth of web3 while achieving industry-leading performance, cost, programmability, and usability. Sui is the first internet-scale programmable blockchain platform, a foundational layer for web3.

3.Starknet

Given a sudoku puzzle, verifying a solution is easier than solving from scratch. If our goal is to convince people of the statement “this puzzle has been solved”, we can save a lot of computation by having one person compute a solution and then propagate it for others to verify. In this strategy, each computation of a solution becomes a one-time event which does not require replication by society. In a similar vein, Starknet scales Ethereum by replacing heavy L1 computation with lighter (hence cheaper!) L1 verification using STARK proofs computed off-chain.

Some of its technical features and selling points are as follows：

safest and most scalable cryptographic proof system: STARK.
It operates as a Layer 2 (L2) network over Ethereum, enabling any dApp to achieve unlimited scale for its computation - without compromising Ethereum’s composability and security

4.Solana

Solana is a blockchain built for mass adoption. It's a high performance network that is utilized for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine, and is open, interoperable and decentralized.

Some of its technical features and selling points are as follows：

Fast

Don’t keep your users waiting. Solana has block times of 400 milliseconds — and as hardware gets faster, so will the network.

Decentralized

The Solana network is validated by thousands of nodes that operate independently of each other, ensuring your data remains secure and censorship resistant.

Scalable

Get big, quick. Solana is made to handle thousands of transactions per second, and fees for both developers and users remain less than $0.01.

Energy Efficient

Solana’s proof of stake network and other innovations minimize its impact on the environment. Each Solana transaction uses about the same energy as a few Google searches.

5.Defichain

Defichain, a blockchain specifically dedicated to decentralized financial applications. By focusing on the functionality of the blockchain and dedicating it specifically to decentralized finance, DeFiChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development specifically for the fulfillment of financial services on the blockchain.

Some of its technical features and selling points are as follows：

Development of a variety of financial operations & vehicles for cryptocurrency economy.
High throughput for all transactions
Safer, more secure blockchain specifically for decentralized finance..
Rapid development of dApps for decentralized finance.
Peace of mind that the blockchain is not used for any types of non-financial dApps, thus decisions of Foundation and core developers are focused 100% on decentralized financial use-cases and nothing else.
Rapid development of dApps with dedicated calls specifically for finance applications.
Minimal attack surface of financial smart contracts developed on the platform.
Reliable governance (off-chain and on-chain).
Highly immutable – by periodic anchoring to Bitcoin blockchain.

6.Mixin

Mixin Network is a open network, it's open to the developers at both Kernel (aka, the Mainnet) and Mixin API levels.

According to the business needs and requirements, developers can choose the appropriate way to develop their dApps, chains, and any applications based on Mixin Network.

Some of its technical features and selling points are as follows：

Multilevel Security

Decentralized network based on punitive POS. Hardware-enhanced security with TEE. Supervision of tens of thousands of light nodes to prevent full nodes from doing evil.

High Concurrency

Competency in high-frequency real-world transaction use cases. Theoretical performance close to centralized servers. Millions or even higher TPS through hardware upgrade.

Zero Fee Transactions

Zero fee Transactions. Competency in micropayment and everyday payment contexts.

Realtime Transactions

The current 35 nodes can do verification and signing of a transaction in 300 ms.

Versatility

Supports for 37 chains, including BTC, ETH, EOS, XMR, etc., and more than 100 thousand tokens.

Simpler Management

Effortless multi-chain asset management with one single account, future public blockchains will also be supported by default.

Multi-signature

Support for co-management of multi-signature assets among up to 255 people. Suitability for teams and families who want to co-own a large amount of an asset, and B2C or C2C platforms who want to co-manage the fund to prevent the platform from embezzling the fund.

Transaction Privacy

Except for the parties themselves, even full nodes do not know who are the parties in a transaction, there is no way to know the identities of the parties in a transaction from the transaction itself.

Regulation-Friendly

The double-key structure ensures the anonymity of assets, users are free to share the view keys to accountants for taxation or audit purpose without losing the assets or their anonymity.

Friendly Ecosystem

No permission is necessary to connect to the network through REST APIs. Developers may use any language they are familiar with to achieve rapid product and service development.

Stable Network

Nodes charge a fee for each API call from DApps, so the income will not be affected by the fluctuation of XIN price, therefore sustainability and security can be guaranteed. The cost of development based on MIXIN network is predictable, pretty much like using AWS.

7.AIgorand

Algorand is a green blockchain.

Which is born sustainable! Algorand is far more energy efficient than other blockchains, and is going further by offsetting its small carbon footprint in partnership with ClimateTrade.

Some of its technical features and selling points are as follows：

Performance

The speed at which blocks are produced, the amount of transactions that can fit into a block, and when those transactions are considered final are important factors to consider when choosing a blockchain. For Algorand, performance is and will always be a key focus area for the core development team.

Throughput

You want to choose a blockchain that can scale and handle high throughput so that your users don’t experience long wait times when interacting with your application.

On Algorand, blocks are produced every 3.3 seconds and can hold up to 25,000 transactions, which results in a throughput of about 7,500 transactions per second (7500 TPS).

Finality

In proof-of-work blockchains, since forking is a possibility, transactions can’t be considered final until a certain amount of time passes and the likelihood of the transaction being on an orphaned chain is practically zero. This means that the actual throughput of this type of blockchain is caveated by a delay in finality. Downstream processes in an application must take this into account to avoid compounding issues if a transaction ends up being invalid.

As we mentioned earlier, Algorand does not have forking so transactions are final as soon as they are confirmed in a block. A throughput of 6,000 TPS then actually means 6,000 finalized transactions per second.

Core features

Algorand makes it easy to tokenize, transfer, and program conditions on any instrument of value. Create fungible and nonfungible tokens with a single transaction (no smart contract code required). Or program sophisticated decentralized applications (dApps) with Algorand smart contracts.

8.BTC

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Some of its technical features and selling points are as follows：

payment freedom

payment freedom
Choose your own fees
Fewer risks for merchants
Security and control
Transparent and neutral

Chainbase currently supports some non-evm public chains. If you want to know more information, please visit our official website and documentation.

About Chainbase

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/exploring-non-evm-public-chains-unveiling-the-allure-of-their-unique-features

Ethereum’s Top Public Chain Intro & Tech Features Highlights Ranked by TVL

2023-10-11T06:31:40.648Z

When it comes to blockchain technology and cryptocurrencies, Ethereum is undoubtedly one of the stars. As one of the world's largest smart contract platforms, Ethereum has many eye-catching technical features and selling points on its public chain. One of the key metrics is the total value locked (TVL) ranking. In this article, we will delve into the top ten technical features and selling points of the Ethereum public chain, which not only attract many developers and investors, but also promote the continuous evolution of the blockchain industry.

The following is an introduction to the top ten public chains and their corresponding technical features and selling points.

1.Ethereum

Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet.

Some of its technical features and selling points are as follows：

A fairer financial system

Today, billions of people can’t open bank accounts, others have their payments blocked. Ethereum's decentralized finance (DeFi) system never sleeps or discriminates. With just an internet connection, you can send, receive, borrow, earn interest, and even stream funds anywhere in the world.

The internet of assets

Ethereum isn't just for digital money. Anything you can own can be represented, traded and put to use as non-fungible tokens (NFTs). You can tokenise your art and get royalties automatically every time it's re-sold. Or use a token for something you own to take out a loan. The possibilities are growing all the time.

An open internet

Today, we gain access to 'free' internet services by giving up control of our personal data. Ethereum services are open by default – you just need a wallet. These are free and easy to set up, controlled by you, and work without any personal info.

A new frontier for development

Ethereum and its apps are transparent and open source. You can fork code and re-use functionality others have already built. If you don't want to learn a new language you can just interact with open-sourced code using JavaScript and other existing languages.

2.Tron

TRON is an open-source public blockchain platform that supports smart contracts. TRON is compatible with Ethereum, which means that you can migrate smart contracts on Ethereum to TRON directly or with minor modifications. TRON relies on a unique consensus mechanism to realize the high TPS of the TRON network that is far beyond Ethereum, bringing developers a good experience of faster transactions.

Some of its technical features and selling points are as follows：

High-throughput

The high throughput of tronprotocol underpinned by improved network TPS, makes TRON a better option for day-to-day use than Bitcoin and Ethereum.

High-scalability

Strong scalability and smart contracts allow applications to be deployed on TRON in diverse ways, enabling tronprotocol to accommodate a sizable user base.

High-availability

tronprotocol has a more reliable network structure, user assets, and intrinsic value. Its further decentralized consensus brings a more mature rewards distribution mechanism.

3.BSC

BNB Smart Chain is an innovative solution to bring programmability and interoperability to BNB Beacon Chain. BNB Smart Chain relies on a system of 50 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees. The most bonded validator candidates of staking will become validators and produce blocks. The double-sign detection, malicious vote detection and other slashing logic guarantee security, stability, and chain finality. Other than the 29 active validators, BSC will introduce more validators, e.g. another 20 inactive validators, into the validator set as backups, which will be called "Candidates".

Some of its technical features and selling points are as follows：

A self-sovereign blockchain:

Provides security and safety with elected validators.

EVM-compatible:

Supports all the existing Ethereum tooling along with faster finality and cheaper transaction fees.

Fast Finality:

Finalizes the chain within two blocks in most cases.

Interoperable:

Comes with efficient native dual chain communication; Optimized for scaling high-performance dApps that require a fast and smooth user experience.

Distributed with on-chain governance:

Proof of Staked Authority (PoSA) brings in decentralization and community participants. As the native token, BNB will serve as both the gas of smart contract execution and tokens for staking.

4.Arbitrum

Arbitrum is a technology suite designed to scale Ethereum. You can use Arbitrum chains to do all things you do on Ethereum — use Web3 apps, deploy smart contracts, etc., but your transactions will be cheaper and faster. Our flagship product — Arbitrum Rollup — is an Optimistic rollup protocol that inherits Ethereum-level security.

Some of its technical features and selling points are as follows：

Rollup

Arbitrum’s market-leading rollup techonology uses fraud proffs to leverage Ethereum’s security and reduce transaction fees by an order of magnitude, making scalability possible.

AnyTrust

Designed for apps that require low transaction costs, AnyTrust chains rely on a Data Availability Committee that settles on Ethereum, making secure web3 gaming and social finally possible.

Orbit

Orbit chains are fully permissionless, with dedicated throughput, increased gas fee reliability, and more. Launch your own Orbit chain now.

Stylus

Deploy apps to Arbitrum chains using your favorite programing languages including Rust, C, and C++, while staying fully interoperable with the Ethereum Virtual Machine.

5.Ploygon

Polygon is a groundbreaking, Ethereum-compatible multi-chain ecosystem. Designed to address the challenges of scalability and transaction speed, it harnesses the power of the Plasma framework combined with Proof-of-Stake (PoS) validation. This synergy ensures rapid, cost-effective transactions, making Polygon an optimal choice for developers aiming to deploy efficient decentralized applications and services.

Some of its technical features and selling points are as follows：

500x lower fees

Polygon’s plasma based side chain enables faster transactions at much lower costs to developers and end users alike.

Rich Ecosystem

With thousands of applications and protocols already there, from Aave to OpenSea, Polygon is ready for builders.

Ethereum compatible

No need to rewrite code-Polygon is fully compatible with all Solidity smart contracts and Ethereum libraries.

6.Optimism

OP Mainnet is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, OP Mainnet's EVM-equivalent architecture scales your Ethereum apps without surprises. If it works on Ethereum, it works on OP Mainnet at a fraction of the cost.

Some of its technical features and selling points are as follows：

Simplicity

Optimism is designed to be as simple as possible for the featureset it provides. Ideally, Optimism should be composed of the minimum number of moving parts required for a secure, scalable, and flexible L2 system. This simplicity gives Optimism's design a number of significant advantages over other more complex L2 constructions.

Pragmatism

For all its idealism, the design process behind Optimism is ultimately driven by pragmatism. The core Optimism team has real-world constraints, the projects that build on Optimism have real-world needs, and the users that engage with Optimism have real-world problems. Optimism's design philosophy prioritizes user and developer needs over theoretical perfection. Sometimes the best solution isn't the prettiest one.

Sustainability

Optimism is in it for the long haul. Application developers need assurance that the platform they're building on will remain not only operational but competitive over long periods of time. Optimism's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability. At the end of the day, a scalable system means nothing without the ecosystem that sustains it.

Optimism

Of course, none of this would be possible without a sense of optimism. Our optimism about the Ethereum vision keeps this project moving forward. We believe in an optimistic future for Ethereum, a future where we get to redesign our relationships with the institutions that coordinate our lives.

7.Avalanche

Avalanche is an open-source platform for building decentralized applications in one interoperable, decentralized, and highly scalable ecosystem. Powered by a uniquely powerful consensus mechanism, Avalanche is the first ecosystem designed to accommodate the scale of global finance, with near-instant transaction finality.

Some of its technical features and selling points are as follows：

Blazingly Fast

Avalanche employs the fastest consensus mechanism of any layer 1 blockchain. The unique consensus mechanism enables quick finality and low latency: in less than 2 seconds, your transaction is effectively processed and verified.

Built to Scale

Developers who build on Avalanche can build application-specific blockchains with complex rulesets or build on existing private or public Subnets in any language.

Avalanche is incredibly energy-efficient and can run easily on consumer-grade hardware. The entire Avalanche network consumes the same amount of energy as 46 US households, equivalent to 0.0005% of the amount of energy consumed by Bitcoin.

Solidity developers can build on Avalanche's implementation of the EVM straight out-of-the box, or build their own custom Virtual Machine (VM) for advanced use cases.

Advanced Security

Avalanche consensus scales to thousands of concurrent validators without suffering performance degradation making it one of the most secure protocols for internet scaling systems.

Permissionless and permissioned custom blockchains deployed as an Avalanche Subnets can include custom rulesets designed to be compliant with legal and jurisdictional considerations.

8.Base

Base is built as an Ethereum L2, with the security, stability, and scalability you need to power your dapps. Confidently deploy any EVM codebase and onramp your users and assets from Ethereum L1, Coinbase, and other interoperable chains.

Some of its technical features and selling points are as follows：

Ethereum L2

Big features, small fees

Get the EVM environment at a fraction of the cost. Get early access to Ethereum features like Account Abstraction (ERC4337), simple developer APIs for gasless transactions, and smart contract wallets.

Open source

Base is built on the MIT-licensed OP Stack, in collaboration with Optimism. We’re joining as the second Core Dev team working on the OP Stack to ensure it’s a public good available to everyone.

9.Cronos

Cronos (cronos.org) is the leading Ethereum-compatible layer 1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 500 app developers and partners. Today, the #CROfam ecosystem represents an addressable user base of more than 80 million people worldwide. Our mission is to make it easy and safe for the next billion crypto users to adopt Web3, with a focus on decentralized applications in the DeFi, NFTs and GameFi verticals.

Shortly after launch in November 2021, Cronos achieved a top 10 position amongst all chains by TVL. It is home to more than 1 million users and 500+ dApps.

Transaction fees are paid in Cronos ($CRO), a blue chip cryptocurrency.

The Cronos ecosystem is supported by Cronos Labs, the start-up accelerator of Cronos chain.

Some of its technical features and selling points are as follows：

EVM Compatible

Built on Ethermint, which supports rapid porting of apps & smart contracts from Ethereum and other EVM-compatible chains.

Scalable

Cronos can process more transactions per minute than Ethereum, making it faster, cheaper, and carbon-neutral to execute smart contracts.

Interoperable

The Inter Blockchain Communications (IBC) protocol enables interoperability and bridging to the Crypto.org Chain, and other IBC-enabled chains, such as Cosmos Hub.

Proof of Authority (POA)

A more streamlined and scalable consensus mechanism consensus protocol while still maintaining security with a range of validators that many different parties run.

Open Source

We welcome our community to review and provide suggestions to strengthen Cronos.

10.Kava

The Kava Network is the first Layer-1 blockchain to combine the speed and scalability of the Cosmos SDK with the developer support of Ethereum. The Kava Network will empower developers to build for Web3 and next-gen blockchain technologies through its unique co-chain architecture. KAVA is the native governance and staking token of the Kava Network, enabling its decentralization and security.

Some of its technical features and selling points are as follows：

Seamless interoperability

The Ethereum and Cosmos Co-Chains interoperate seamlessly with each other, empowering developers to build in whichever environment they want without sacrificing access to the users and assets of the other.

Optimized scalability

The Kava Network’s unique architecture enables the free flow of users, assets, and projects between Kava and the industry’s most relevant ecosystems at scale, all powered by the lightning-fast Tendermint Core consensus engine.

Rapid ecosystem growth

Innovative and transparent on-chain incentive programs ensure that the best builders in the Ethereum and cosmos ecosystems are properly rewarded for driving growth for the Kava Network.

11.zkSync

zkSync Era is the layer 2 protocol that scales Ethereum's security and values through zero-knowledge cryptography. We believe that the single most impactful way we can make this world better is by increasing people’s freedom, and today, freedom relies on cryptography.

The mission of zkSync is to accelerate the mass adoption of crypto for personal sovereignty.

Some of its technical features and selling points are as follows：

Scaling Freedom

zkSync Era is a Layer-2 protocol that scales Ethereum with cutting-edge ZK tech. Our mission is not only to merely increase Ethereum's throughput, but to fully preserve its foundational values – freedom, self-sovereignty, decentralization – at scale.

Hyperscalability: the Endgame

To meet web3's exponential demand, blockchains needs to scale like the Internet: processing an unlimited number of transactions without a marginal impact on security or cost. We call this property hyperscalability, and this is the ultimate goal of Era's design.

Security++

ZK-rollups like Era are the only scaling solution that can inherit 100% of Ethereum's security. But theory is not enough. zkSync is committed to go above and beyond to make Era by far the most secure L2, in practice.

A brand new Era for UX

Self-custody combined with intuitive, delightful, and security-fostering UX is critical to onboard the first billion users to web3. Era's design started with the end-user in mind.

12.Fantom

Fantom is a fast, scalable, and secure smart contract platform built on an aBFT consensus protocol.

Fantom is: Permissionless and Decentralized and Open source

Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be faster and cheaper than previous technologies while retaining security.

Some of its technical features and selling points are as follows：

Speed

Fantom achieves transaction finality in 1–2 seconds on average.

Scalability

Fantom can process thousands of transactions per second and can scale to hundreds of nodes.

Security

Lachesis provides institutional-grade security to the distributed network. Fantom offers absolute finality, which means that transactions can never be reverted like in networks with probabilistic finality.

Fantom is also leaderless. By removing leaders, security does not rely on a small set of actors in charge of block production.

Smart contract support

Fantom is fully compatible with the Ethereum Virtual Machine. Developers can create and deploy smart contracts as they would on Ethereum.

Chainbase currently supports Ethereum and multiple public chains related to Ethereum. If you want to know more information, please visit our official website and documentation.

About Chainbase

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/ethereum-s-top-public-chain-intro-and-tech-features-highlights-ranked-by-tvl

MakerDAO: Creating a New Era of DeFi

2023-10-09T02:24:25.868Z

Introduction

In the world of cryptocurrency, MakerDAO, a decentralized autonomous organization on Ethereum, has always been one of the prominent protocols. This article will provide an overview of MakerDAO's history, development, technical features, and future prospects to help readers gain a better understanding of this hot project in the decentralized finance (DeFi) space.

Establishment and Development

Founding of MakerDAO

MakerDAO was founded in 2014 by a group of developers led by Rune Christensen. This organization later officially became the Maker Foundation, a Cayman Islands company. Initially, it was established to address volatility issues in the cryptocurrency markets. The core objective of this protocol was to create a stablecoin (Dai) to counterbalance the price fluctuations of assets like Ethereum, providing a more stable means of value storage. Additionally, it allowed for decentralized smart contract-based lending and leveraged trading.

Development Milestones

2015 - 2017:

MakerDAO launched the first version of Dai and introduced Pooled Ether (PETH tokens) on Ethereum, providing users with decentralized lending services. This marked the emergence of DeFi, attracting early cryptocurrency enthusiasts. The Maker team raised $12 million by selling MKR tokens to prominent venture capital firms like Andreessen Horowitz, as well as other risk investment companies such as Polychain Capital and 1Confirmation.

2018:

MakerDAO released Multi-Collateral Dai (MCD), allowing users to collateralize various cryptocurrencies beyond just Ethereum. This version of Dai introduced greater diversity and decentralization. Additionally, they sold MKR tokens worth $15 million to Andreessen Horowitz, indicating their intention to participate in managing the DAI system.

2019:

Single-Collateral Dai (SCD) was retired in favor of Multi-Collateral Dai, making the system more stable and secure. They also raised an additional $27.5 million from venture capital firms Paradigm and Dragonfly Capital Partners to expand into Asia.

2020:

Fueled by the DeFi market frenzy, MakerDAO's Total Value Locked (TVL) saw significant growth, reaching billions of dollars. However, the year also witnessed the "Black Thursday" event, causing temporary instability in the system, which required an emergency vote to recover from.

2021:

MakerDAO continued to attract global users, integrating with on-chain assets like AAVE and UNI, enhancing diversity and security.

Technical Features

Decentralized Governance

One of MakerDAO's core features is decentralized governance. The protocol is controlled and managed by community members holding MKR tokens. MKR token holders can vote to determine system parameters, adjust collateral requirements, and respond to emergencies.

Collateralization and Borrowing

Users can collateralize their crypto assets into MakerDAO's smart contracts and generate Dai stablecoins. This allows users to borrow Dai, pay interest, and maintain collateral, enabling leverage trading and liquidity.

Stablecoin Dai

Dai is MakerDAO's stablecoin, with its value pegged to the US dollar. Dai issuance is automatically managed by smart contracts, maintaining stability through collateral locking and interest rate adjustments.

DAI Stablecoin

DAI is a popular stablecoin project, pegged 1:1 to the US dollar, offering stability to users unaffected by frequent market fluctuations in the cryptocurrency world. 1 DAI can be considered equivalent to 1 USD. What makes the stablecoin project intriguing is that each DAI token is backed by Ethereum, rather than being supported by a centralized third party that claims to control the required collateral. It is an ERC-20 token and can be easily acquired from cryptocurrency exchanges like Binance, Coinbase, Gemini, Uniswap, Curve, and others.

To obtain a DAI loan through MakerDAO, users need to deposit any suitable Ethereum-based digital assets as collateral, including ETH, ZRX, OMG, and more. MKR token holders on the platform approve transactions. DAI is one of the most accessible digital assets on the Ethereum network, with widespread use in DeFi, blockchain gaming, and digital collectibles.

DAI interest is earned by depositing it into the DAI Savings Rate (DSR), supported by fees collected from the Maker collateral vault owners. It is free for every DAI holder. DSR does not deprive users of ownership of their assets, and they can withdraw funds at their discretion. DSR rates are determined by MKR token holders based on current market conditions. If investors wish to withdraw collateral locked in the Maker collateral vault, they also need to repay borrowed DAI along with an annual percentage yield fee.

MKR Token

In addition to DAI, MakerDAO supports another powerful token within its ecosystem, MKR. MKR tokens manage and control the core infrastructure of the lending platform. Investors owning MKR tokens control various elements of the protocol, such as collateral amounts supporting each CDP, stability fees, annual borrowing fees, collateral ratios, and closing the protocol in the event of an Ethereum price collapse.

Token holders also play a significant role in MakerDAO's governance mechanism. They regulate the protocol by deciding whether to include additional collateral options and their associated risk factors. They are also the ultimate buyers of DAI loans. This means that if there is less collateral ETH stored in the Maker vaults than required, MKR is created and traded through auctions to raise the necessary additional funds.

This token incentivizes MKR holders to make sincere and responsible efforts to expand the network. With MKR, MakerDAO becomes a fully decentralized autonomous organization. Every time fees are paid within the MakerDAO ecosystem, MKR worth one USD is purchased from the market to cover stability fees.

Current Status and Future Outlook

As of now, MakerDAO has become one of the most important protocols in the DeFi ecosystem, with TVL and user base continuously growing. However, as competition intensifies in the DeFi space, MakerDAO faces challenges and needs continuous improvement of its technology and governance model. It is expanding the reach of cryptocurrency in financial and economic paradigms. As an emerging project, it thrives, offering unparalleled services to those willing to borrow with cryptocurrencies. MKR token empowers community governance, and DAI token manages the core ecosystem's operations.

The platform has become a pioneer in DeFi development, and if its current growth momentum continues at the same pace, MakerDAO will bring new opportunities to the global cryptocurrency field.

In conclusion, MakerDAO's development journey is impressive as it not only brings stability to the cryptocurrency space but also drives the growth of decentralized finance. As the DeFi ecosystem expands, MakerDAO is poised to continue playing a significant role, providing users with more innovative financial products and services. Let us continue to follow the exciting story of MakerDAO and witness its ongoing growth and evolution in the cryptocurrency world.

About Chainbase

Chainbase is an open Web3 data infrastructure for accessing, organizing, and analyzing large-scale on-chain data. It helps people better utilize on-chain data by combining rich datasets and open computing technologies in a single data platform. Chainbase's ultimate goal is to increase the freedom of data in the crypto space.

With over 5,000 developers actively engaging with our platform, and over 200 million daily data requests as their data backend, Chainbase has become an integral part of their workflows. In addition, we collaborate with approximately 10 top-tier public chains, serve as a top validator, and provide custody for over $500 million in tokens. Learn more at chainbase.com

Want to learn more about Chainbase?

Website | Blog | Twitter | Discord | Link3

Empowering Web3 Adoption: Chainbase and TON Foundation Join Forces

2023-09-27T01:57:22.733Z

Introduction

We are thrilled to announce a groundbreaking collaboration between Chainbase and TON Foundation, aimed at revolutionizing the Web3 landscape. This strategic partnership brings together the expertise of industry leaders to provide developers and enterprises with enhanced capabilities, reliable infrastructure, and unparalleled support.

Chainbase <> TON

Chainbase has been dedicated to delivering robust and efficient blockchain infrastructure, empowering developers and projects with cutting-edge solutions, and our collaboration with TON marks a significant milestone in this cause. The adv+anced system of TON, designed for mass adoption of the blockchain technology, offers fast transaction speed, reliable connectivity, low latency, and cost-effective fee, which perfectly matches with Chainbase's commitment.

Chainbase‘s COO Chris said:

“We share the goal of making these services available via Tencent Cloud. Soon, we’ll be providing a readily accessible gateway to TON for millions of developers and end users. Through this strategic partnership, Chainbase aims to facilitate frictionless adoption, especially across the thriving APAC blockchain landscape.”

Integration Highlights

Validator nodes, provided through the industry-leading Tencent Cloud infrastructure. Leveraging Chainbase’s experiences of successfully operating validator nodes on multiple top-tier chains, we are bringing Tencent Cloud on the list of validators, and together we help ensure the security and stability of TON.
Full RPC access, fast with zero downtime (coming soon). We’re going to enable the full node services on TON, providing the essential building blocks for more developers to create the next generation of dApps on the open network.
The first and most comprehensive data tool on TON (coming soon). Based on Chainbase’s expertise on data querying and indexing, we will soon be offering decoded datasets, packaged APIs, and more functionality, pairing TON with an open data infrastructure. Specifically, we will support TON asset data (state, transfer, etc.) including token trading volume, token distributor, IDO address profile, and more.

Future Collaborations

Chainbase and TON will continue to collaborate to provide node and data support, creating seamless experience for developers to keep building in TON’s system. We will also introduce more new features, services, content, and events to stimulate innovation, cultivate growth, and bring about a transformation in the decentralized application landscape. Stay tuned for further updates as we embark on this exciting journey together!

About TON

The Open Network (TON) is the blockchain system built for ownership and opportunity, initially developed by Telegram Messenger. TON’s design is ready to power millions of transactions per second, near-instantly, with enterprise-ready technology to onboard billions of users through low fees and easy-to-use apps natively built in Telegram. Today, the TON Foundation supports the TON blockchain’s architecture to operate various programs, including peer-to-peer, distributed storage, and service hosting technologies. To learn more, visit: ton.org.

About Chainbase

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/empowering-web3-adoption-chainbase-and-ton-foundation-join-forces

Orion Protocol: A Bridge To The Crypto World

2023-09-26T02:07:32.562Z

Introduction to Orion

Orion Protocol is a next-generation DeFi platform that connects to all major cryptocurrency exchanges (centralized and decentralized) and renowned liquidity pools. This platform combines the best features of existing cryptocurrency brokers and instant trading applications. In essence, the protocol serves as the Bloomberg of the cryptocurrency space, bringing all existing centralized and decentralized cryptocurrency trading platforms under one protective umbrella.

Orion Founders

Orion Protocol (ORN) was launched in 2020 by Alexey Koloskov and Kal Ali. Koloskov embarked on his crypto journey as the creator of Waves DEX in 2016 and currently serves as the CEO of Orion Protocol. Ali, with a wealth of experience in the traditional finance industry, holds the position of COO on the platform.

Advantages and Features of Orion

Orion Protocol brands itself as the "most advanced liquidity aggregator ever" and claims to address some of the most significant issues of traditional DeFi trading platforms.

According to a survey by Encrybit, 91% of cryptocurrency traders encounter various problems when trading on traditional cryptocurrency platforms. These common issues include security concerns, lack of liquidity, and high transaction fees.

Orion Protocol addresses all these issues through its "crypto brokerage aggregator." According to the Orion whitepaper, the platform provides convenience for traders, reference for analysts, flexibility for trading algorithm developers, all centralized in one place. The platform also claims to be one of the lowest fee platforms in both centralized and decentralized cryptocurrency markets.

Some key features of the Orion Protocol include:

Unique Liquidity Aggregator: Orion's primary feature is its built-in aggregator, allowing users to access multiple exchanges in one place. With the aggregator, traders can get spot prices for any supported cryptocurrency, as it aggregates the best features of all centralized and decentralized platforms.
Internal Price Matching Engine: Traditionally, users had to rely on third-party brokers to match orders from different cryptocurrency exchanges, increasing dependency risk and execution time. In contrast, Orion Protocol efficiently matches orders on a peer-to-peer basis using its internal decentralized exchange (DEX). With its extensive internal database, Orion Protocol aims to reduce trading risks while providing nearly instant execution.
Non-Custodial Platform: Most traditional platforms control user wallets, preventing direct external transfers. Locking cryptocurrency within exchange platforms before external transfer increases risks of hacking, theft, and downtime. In contrast, Orion Protocol allows users to have control over their funds and enables direct transfer of cryptocurrency to external wallets after purchase.

In addition to these features, the platform offers liquidity enhancement plugins, a blockchain DEX suite, enterprise trading widgets, launchpad liquidity, and developer kits, all of which are valuable for both retail and professional high-frequency traders.

ORN Token

The Orion Protocol is powered by its native utility token called ORN. This token is hosted on the Ethereum platform and follows the ERC20 standards. ORN can be used for various purposes, including paying transaction fees, receiving staking rewards, voting for "your chosen broker," and accessing advanced features such as margin trading. Brokers also use this token to participate in decentralized brokerage services. Furthermore, ORN token holders can enjoy discounts when conducting transactions on the Orion Protocol.

Currently, there are 100,000,000 ORN tokens in total supply, with 34,433,074 tokens in circulation. Orion Protocol tokens have a capped supply, meaning their supply is limited and should not be minted anew after token generation events. This limited supply acts as an anti-inflation mechanism, making ORN potentially a good store of value in the long run. Mechanisms are also in place to periodically remove tokens from circulating supply and burn them, such as mechanisms for licensing fees and refunds, leading to token deflation.

The circulating supply of ORN tokens multiplied by the current price of the Orion Protocol determines its market capitalization. Market capitalization determines ORN's ranking in the cryptocurrency peer group and its market share.

As of today, the Orion Protocol price is $0.5255, with a 24-hour trading volume of $2.14 million. Over the past 24 hours, ORN has experienced a -1.86% change. It is currently -6.52% from its 7-day high of $0.5621 and 5.43% from its 7-day low of $0.4984.

Future Outlook

The journey of Orion Protocol began as a vision and has evolved into a multifunctional cryptocurrency platform connecting exchanges and blockchains from around the world. With future developments, Orion Protocol will continue to play a crucial role in the crypto world, providing users with more innovative solutions to participate in cryptocurrency markets with ease. The success of this project demonstrates that innovation and steadfast belief can change the landscape of an entire industry, laying a strong foundation for the future of cryptocurrency.

About Chainbase

Chainbase is an open Web3 data infrastructure for accessing, organizing, and analyzing large-scale on-chain data. By combining rich datasets and open compute technologies in one data platform, Chainbase helps people better harness on-chain data. The ultimate goal of Chainbase is to increase the freedom of data in the crypto space.

With over 5,000 developers actively engaging with our platform, there are over 200 million data requests processed daily as their data backend, with Chainbase integrated into their core workflows. Additionally, we partner with approximately 10 leading public chains, serve as top validators, and provide custody for over $500 million in tokens. Learn more at chainbase.com.

Want to learn more about Chainbase?

Website | Blog | Twitter | Discord | Link3

The Original Link:https://chainbase.com/blog/article/orion-protocol-a-bridge-to-the-crypto-world

Visualizing MakerDAO Data Using Chainbase Api and Livequery

2023-09-19T12:00:41.670Z

Table Of Content

Introduction
Example1: Market Health Analysis
Example2: Analysis of Liquidation
Conclusion

Introduction

In the world of decentralized finance (DeFi), the importance of data analysis and visualization cannot be overstated. These tools not only help in understanding market dynamics but are also pivotal in gauging the health and trends of projects. While we can extract a wealth of raw data from Chainbase, this data often requires further cleaning and processing to provide us with more intuitive and specific information. This is where Flipside comes into play, offering a powerful data visualization platform that allows us to effortlessly transform the raw data extracted from Chainbase into vivid and insightful charts and analyses.

This article, using two illustrative examples, will walk you through the process of extracting MakerDAO data from Chainbase and visualizing it effectively with Flipside, enabling you to uncover the deeper insights and value hidden within the data.

Relevant links for this article:

Market Health Analysis

To assess the health of the MakerDAO market, we first need to focus on the following key indicators:

cumulativeBorrowUSD: Represents the accumulated borrowing amount.
cumulativeDepositUSD: Represents the accumulated deposit amount.
totalValueLockedUSD: Indicates the total value locked within the market.
isActive: Denotes whether the market is active or not.

We can extract this information using the following Chainbase query:

# chainbase
query MyQuery {
   ilks {
    marketAddress
  }
  markets {
    createdTimestamp
    cumulativeBorrowUSD
    cumulativeDepositUSD
    isActive
    totalValueLockedUSD
  }

To delve deeper into the analysis, we can import this data into Flipside and query for specific marketAddress values.

# filpside
SELECT
     round(VALUE:"cumulativeBorrowUSD",2)  AS "cumulativeBorrowUSD" ,
     round(VALUE:"cumulativeDepositUSD",2)  AS "cumulativeDepositUSD" ,
     round(VALUE:"totalValueLockedUSD",2)  AS "totalValueLockedUSD" ,
     VALUE:"isActive"::string AS "isActive"

FROM
  (
      SELECT
      chainbase_utils.post('/v1/subgraphs/ethereum_makerdao/1.0.0',
      {
        'operationName':'MyQuery',
        'query':
      'query MyQuery {
  ilks(where: {marketAddress: "{{marketAddress}}"}) {
    marketAddress
  }
  markets {
    cumulativeBorrowUSD
    cumulativeDepositUSD
    isActive
    totalValueLockedUSD
}
}'}) :: variant AS resp
  ) AS subquery,
LATERAL FLATTEN(input => resp:data:data:markets)
Where isActive = “TRUE”

## eg.
marketAddress: 0x24e459f61ceaa7b1ce70dbaea938940a7c5ad46e

Through visualization, we can get some insight from the data:

Borrow-Lend Balance: By comparing cumulativeBorrowUSD with cumulativeDepositUSD, we can assess whether the market is in a healthy borrowing-lending equilibrium. In Flipside, we use a dual Y-axis chart to display the variations of these two indicators over time.
Total Value Locked (TVL): By analyzing totalValueLockedUSD, we can gauge the market's liquidity and attractiveness. A high TVL typically indicates a healthier and more appealing market. In Flipside, we can use a time series chart to showcase the evolution of TVL over time.

Analysis of Liquidation

Liquidation events are a crucial metric in the DeFi market, helping us understand the risk conditions of the market. Here are the key data points we can analyze:

**amountUSD**: Represents the amount in USD associated with the liquidation event.
lastPriceUSD: Indicates the most recent price of the asset in USD. This could be used to determine the asset's current market value at the time of liquidation.
name: The name of the asset being liquidated. For example, it could be "Ethereum" or "DAI".
symbol: The ticker symbol or abbreviation for the asset. For instance, "ETH" for Ethereum or "DAI" for DAI stablecoin.

query MyQuery2 {
  liquidates {
    amountUSD
    asset {
      lastPriceUSD
      name
      symbol
    }
    timestamp
  }
}

To delve deeper into the analysis, we can import this data into Flipside (similar to the first example).

We can conduct the following two analyses:

Time Series Chart

Display the changes in amountUSD over time to observe the frequency and scale of liquidation events. A high frequency of liquidation events might indicate market instability or high risks.

Analysis of Liquidated Assets

Using pie charts, showcase the average liquidation amounts and counts for different assets. This can help identify certain assets that might be more prone to liquidation, possibly due to their market volatility or liquidity.

After creating the dashboard, the final presentation is as shown below:

Link：https://flipsidecrypto.xyz/pyours/makerdao-1vJUeJ

Conclusion

MakerDAO stands as a pivotal player in the DeFi landscape. Analyzing and visualizing its data offers profound insights, proving indispensable for investors and market researchers alike. Through the analysis methods mentioned above, we can delve deeper into the market's vitality, potential risks, and liquidation patterns. We hope this guide offers valuable insights and guidance for you.

About Chainbase

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link:https://chainbase.com/blog/article/visualizing-maker-dao-data-using-chainbase-api-and-livequery

The Secret Chainbase Master Plan

2023-09-18T11:12:29.207Z

We believe that the future world is on-chain (Onchain), where everyone and every organization will rely on blockchain.

This belief stems from the unique nature of blockchain: it is a world computer open for access by all, yet owned by none. More importantly, blockchain is the world's first default public and ever-expanding global data network.

In the past, internet data has always been a closed and scarce resource, restricted to organizations and specific individuals with data monopolies for access and utilization. However, blockchain technology breaks through these limitations, providing a new value system based on public, shared, and immutable data and infrastructure. This is not just a paradigm shift in data and computation but also an expansion of the entire internet.

With this technology, existing internet native protocol layers are continuously upgraded, allowing anyone globally to directly build and exchange value. This transformation unleashes new trillion-dollar markets, giving the internet unprecedented vitality and energy.

Looking back at several media transitions in information and data in computer science:

On paper: Inefficient, limited, insecure.

On disk: What you care about stays on local disks.

On cloud: Stored and controlled centrally in the cloud.

On chain: What matters to everyone will be on the blockchain.

Onchain is not just a technical term; it will be another form of online. Next, data will become more democratic and exist on a larger scale under the impetus of AI. This poses a challenge: How do we redesign encryption to build a truly open and sustainable data infrastructure? To accelerate human progress more broadly. This is the mission of Chainbase, as we are committed to making encrypted data easy to use and beneficial, constantly helping the most creative individuals of this era realize their ideas.

To achieve this goal, the plan will be divided into four phases:

Phase 1: Build the open data platform

In this phase, we will build an open, fast, and stable data platform based on the real needs of industry users, primarily engineers, data scientists, and analysts. We will incorporate the concept of openness into the design of the entire product, enabling people to maximize centralized access, processing, analysis, and artificial intelligence of encrypted data.

This is our core business, and we will work closely with users to refine the product, gaining insights, brand image, and industry influence by continually expanding the user base. Profit is not the key in this stage; almost all new technologies initially come with high costs and gradually balance and establish corresponding barriers as they reach the tipping point of scale.

Phase 2: Build a trustless, sustainable data model network

Open transparency, trustlessness, and sustainability are core to blockchain, and we will apply this to the parsing, modeling, and describing systems of data set models. In this phase, we will build a data model network. We will standardize the data interpretation layer in the encryption field as much as possible through a set of protocol standards (from raw data to decoding contracts and abstract business layers) to maximize the richness and quality of data sets. With people joining in, the entire system will operate at a faster pace, ultimately ensuring that the processes (knowledge) behind all data sets are open, transparent, composable, and not controlled by centralized will.

Phase 3: Build data-based, mass-market apps through investments or acquisitions

Data only truly adds value in specific application scenarios. Cryptocurrency applications have been criticized for various reasons in the past. Therefore, in this phase, we will build a series of data-value-driven, mass-market applications and tools through investments, acquisitions, or incubation. These applications will not only drive the iteration and broad use cases of the Chainbase platform but also provide practical tools, entertainment, and services to global users, with the aim of greatly reducing the entry barriers so that hundreds of millions of ordinary users can participate.

Phase 4: Driving 10M people to build on blockchain for mass builds

In the final phase, our vision is to inspire creativity on a global scale, involving at least 10 million people in the construction process. We aim to attract not only developers but also product managers, data scientists, and various other professionals. Such multidisciplinary collaboration will lead to unprecedented innovation.

These scenarios and areas may include but are not limited to identity systems, computing storage, social, games, advertising, RWA, efficiency tools, and more. Imagine that within these innovations, the next Google, Twitter, Meta, Netflix, Uber, and more could emerge. We are very excited about this because it means that in the future, their existence will directly or indirectly change the world and have a huge impact on humanity.

Conclusion

Like this industry, we are still in the early stages, and the new data revolution is just beginning. Ideally, we need more than five years to go through these stages.

Furthermore, we are not just building a platform or solving a problem. Our goal is to activate an entirely new creative ecosystem. Finally, if Chainbase's phases are "successful," even developers who have just started with blockchain or non-technical ordinary users will be able to easily use on-chain data for valuable innovations. Use cases will number in the tens of thousands, and encryption will be everywhere. People will no longer need to waste time on redundant tasks like reinventing the wheel, deciphering data, building systems, and ensuring stable operation. This world will become incredibly simple!

Tl;DR In summary, our overall plan is:

Invent a product to solve the usability problem of encrypted data.
Promote a network to unify the data interpretation layer.
Improve the product with earnings and participate in user-oriented applications through investment or acquisition.
While doing the above, maintain the spirit of encryption.

Note: "Open" is not only one of our core values but also our guiding principle. That's why we have openly shared our "internal" strategic plans on the internet.

About Chainbase

Want to learn more about Chainbase?

Website｜Blog｜Twitter｜Discord｜Link3

The Original Link：https://chainbase.com/blog/article/the-secret-chainbase-master-plan