Waves Arabic 🌊 (1 ➝ 2)

The Units.network ecosystem DAO will be based on @PWRDAO Power Protocol $pwr #waves #powerproto

$waves will also be eligible for staking in the upcoming units.network retrodrop.

Beyond re-staking The concept of re-staking goes beyond its initial appearance. It's not just about repurposing the economic incentives from one blockchain protocol to support another. This strategy plays a crucial role in expanding decentralized governance and consensus mechanisms beyond their original domains. In simpler terms, re-staking isn't merely about taking Ethereum that's already staked and reusing it in one of the Layer 2 protocols built on top of Ethereum. It’s about providing these new layers with a robust consensus mechanism. If the consensus on these new layers faces any issues, the network has the safety net of falling back on the established consensus of the primary Ethereum Layer 1. This safety net allows the network to identify and penalize misbehaving nodes, thereby maintaining the integrity of the system. While Ethereum, with its significant value locked in, might seem like an ideal platform for this, it may not technically be the best-suited blockchain for implementing this model. The chain-based proof of stake system used in the Waves blockchain appears to be a more straightforward option for exporting consensus and supporting new chains that are built on the Waves Layer 1 infrastructure. Units.network plans to take full advantage of this by exporting the consensus established on Waves to multiple interconnected chains. This approach will not only enhance security but also facilitate the smooth transfer of liquidity between all the sidechains and the main #Waves Layer 1!

What ETH devs do with re-staking and what we try do to with units.network makes a lot of sense - instead of creating new value to support new consensus models you got to recycle the value that already exists. #waves #units $L2MP

units.network boostrapping is starting! Staking of the mining token $L2MP of the first sidechain is over, stay tuned for the launch roadmap. Ecosystem of EVM L2 side chains is coming to #Waves ! $waves #units $unit0

#Waves

Layer 2 narrative and its future. The current key development in the cryptocurrency world is the launch of layer 2 blockchains, primarily on the Ethereum platform. These layer 2 solutions are designed to reduce the burden on Ethereum by taking over the running of smart contracts, while Ethereum itself handles consensus. It's important to clarify that this isn't about increasing scalability. Instead, it's about expanding the blockchain's capacity. This expansion allows popular decentralized applications (Dapps) to operate on less crowded networks, or even to start their own layer 2 chain. This development is significant, though it's not yet clear how much extra blockchain space we really need. We'll learn more about this in the coming years. Layer 2 chains built on top of established blockchains represent a crucial phase in the evolution of blockchain technology. This doesn't conflict with the forthcoming resurgence in discussions about scaling layer 1 (L1) blockchains. Even with highly scalable L1 blockchains, layer 2 chains will still be relevant. Certain Dapps may operate more effectively when separated from others. Layer 2 can also offer unique economic incentives, distinct from those of L1. This can be seen in mechanisms like ZK or optimistic rollups, or in upcoming projects like units.network, which extend L1 incentives. To maximize blockchain technology's usability, it's essential to provide a straightforward method for Dapps to launch their own layer 2 side chains. This should facilitate access to all layer 1 liquidity and enable connections to other layer 1 chains. While this approach doesn't directly increase scalability, it represents a significant step toward making blockchain technology more user-friendly.

Next week on #Waves - - Waves network node 1.5 activation - New round of the Ambassador DAO - Testnet synthetics on WX #units #wavesarmy $waves

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