Madhav GoyalHalo: A privacy layer for stablecoins
AbstractHalo is a privacy layer for stablecoins unlocking the next private neobanks and applications that were blocked by the lack of anonymity and confidentiality of networks. Halo Network introduces a new extension a a privacy-preserving EVM chain purpose-built for stablecoin use cases. Halo combines the familiarity and composability of the EVM with the confidentiality of a UTXO-based privacy layer, allowing users to transact and build privately without sacrificing interoperability or liqui...
Madhav Goyal🧊Solana::Leader schedule
I have been diving into Solana and its Validator code realizing the incredible design behind the selection of Validators and block producers, so here is a small rundownWhat are Blocks?What are POW and POS?Solana Leader ScheduleSpecial Considerations to produce the Tastiest BlockOpen QuestionsSome ResourcesBlocks wat?Blocks containing transactions and state transition data lined on top of one another with cryptography securing their computational integrity is the foundation of blockchain aka c...
Madhav GoyalMusings on Price Discovery
Musings on Price discoveryWith a fading bull run comes the pressure to do a token generation event at high valuations because otherwise if you are a VC backed project with 8 figs in funding, you are cooked without a binance listing since you definitely know your tech is only valued at the number of CEX listings and shady market makers you can get for the launch. Jokes and criticism aside, I have been diving into the price discovery for a mix of work and my own interests in the past few months...
Just a tinkerer in this wonderful world
Madhav GoyalHalo: A privacy layer for stablecoins
AbstractHalo is a privacy layer for stablecoins unlocking the next private neobanks and applications that were blocked by the lack of anonymity and confidentiality of networks. Halo Network introduces a new extension a a privacy-preserving EVM chain purpose-built for stablecoin use cases. Halo combines the familiarity and composability of the EVM with the confidentiality of a UTXO-based privacy layer, allowing users to transact and build privately without sacrificing interoperability or liqui...
Madhav Goyal🧊Solana::Leader schedule
I have been diving into Solana and its Validator code realizing the incredible design behind the selection of Validators and block producers, so here is a small rundownWhat are Blocks?What are POW and POS?Solana Leader ScheduleSpecial Considerations to produce the Tastiest BlockOpen QuestionsSome ResourcesBlocks wat?Blocks containing transactions and state transition data lined on top of one another with cryptography securing their computational integrity is the foundation of blockchain aka c...
Madhav GoyalMusings on Price Discovery
Musings on Price discoveryWith a fading bull run comes the pressure to do a token generation event at high valuations because otherwise if you are a VC backed project with 8 figs in funding, you are cooked without a binance listing since you definitely know your tech is only valued at the number of CEX listings and shady market makers you can get for the launch. Jokes and criticism aside, I have been diving into the price discovery for a mix of work and my own interests in the past few months...
Share Dialog
Share Dialog
Just a tinkerer in this wonderful world
Subscribe to Madhav Goyal
Subscribe to Madhav Goyal
Dapps power everything we have built on blockchain as we know whether that be juicy staking defi protocols or storage networks for the next generation of research.
They are fascinating pieces of technology as all their interactions are public and verified with cryptography. while this is dope it also brings in a lot of cons every time you have to deposit some tokens in a pool or sell an nft on the mainnet it costs gas which is dynamic and as the no of users of Ethereum goes up so does the value of the block space.Like the Yuga mint in 2022 where folks paid tens of thousands of dollars to mint the other side nft and $157 million was just spent on the gas in a few hours making the chain unusable for normal peopleWhich lead to the community voting on moving APecoin to its own chain
Its not. very convenient for a regular user to pay $5 to sign a txn with the dapp or make changes to their trades and using rollups is one of the most basic things that come to mind when txn fee is being decreased but that still leaves the awful ux of most dapps where you have to sign a txn for. every interaction, like it, wouldn’t make sense if you are using a decentralized version of a short blogging app aka Twitter, and signing a txn for every reply.One of the biggest things that can help with this is Account Abstraction which is being super hyphed rn because of the eip-4337
Account Abstraction in simple words means just abstracting the authority to approve some actions and not using the main seed phrase for signing it.
It had been a big problem that is being solved by the new eip but what If we could provide developers and builders with the ability to ingrain their dapps with the type of functionality they want while also making it cheap?
This can be achieved by something called app-specific rollups (if you wanna get the idea read this) the idea comes from the Starkent team about Fractal Scaling where the mainnet Ethereum is the main settlement layer which receives proofs and batches of proved computation from its rollups decreasing the gas fee by many folds. As the size of a single Ethereum txn is over ~ 300 kilo bytes, a single snark proof is around ~160 bytes which is orders of magnitude less and can fit the proof a batch of transactions rather than just one brining the gas prices down. This concept can be take further by Layer 3 rollups that post their proofs on layer 2 which then proves its state and validity to Layer 1. If an L2 is
cheaper than L1 than L3 will be
cheaper and reducing the size of proof posted on the L1 making txn more efficient even for the validators to store.
Having different rollups for dapps where developers have the abiility to take the concept of programmable money even further. Many Rollups as a service startup are gearing up now, here are a few projects I like ->
Building custom rollups with Optimistic rollups. Their vision is to allow anyone to launch a rollup just within a few clicks and allow folks to modify it tot their needs.
Opside
They are building one of the coolest techs in the ecosystem and pioneering something called Native rollups which is a Zero knowledge rollup that posts Snark proofs to maintain and prove the integrity of the computation and also address the concern of data availability even at the layer 3.
They are building sdk which allows the functionality to develop rollups for anyone.
PS: A big part of the info was taken from the Starkware blogposts so a big shoutout to them! They are just doing mind blowing work!
Dapps power everything we have built on blockchain as we know whether that be juicy staking defi protocols or storage networks for the next generation of research.
They are fascinating pieces of technology as all their interactions are public and verified with cryptography. while this is dope it also brings in a lot of cons every time you have to deposit some tokens in a pool or sell an nft on the mainnet it costs gas which is dynamic and as the no of users of Ethereum goes up so does the value of the block space.Like the Yuga mint in 2022 where folks paid tens of thousands of dollars to mint the other side nft and $157 million was just spent on the gas in a few hours making the chain unusable for normal peopleWhich lead to the community voting on moving APecoin to its own chain
Its not. very convenient for a regular user to pay $5 to sign a txn with the dapp or make changes to their trades and using rollups is one of the most basic things that come to mind when txn fee is being decreased but that still leaves the awful ux of most dapps where you have to sign a txn for. every interaction, like it, wouldn’t make sense if you are using a decentralized version of a short blogging app aka Twitter, and signing a txn for every reply.One of the biggest things that can help with this is Account Abstraction which is being super hyphed rn because of the eip-4337
Account Abstraction in simple words means just abstracting the authority to approve some actions and not using the main seed phrase for signing it.
It had been a big problem that is being solved by the new eip but what If we could provide developers and builders with the ability to ingrain their dapps with the type of functionality they want while also making it cheap?
This can be achieved by something called app-specific rollups (if you wanna get the idea read this) the idea comes from the Starkent team about Fractal Scaling where the mainnet Ethereum is the main settlement layer which receives proofs and batches of proved computation from its rollups decreasing the gas fee by many folds. As the size of a single Ethereum txn is over ~ 300 kilo bytes, a single snark proof is around ~160 bytes which is orders of magnitude less and can fit the proof a batch of transactions rather than just one brining the gas prices down. This concept can be take further by Layer 3 rollups that post their proofs on layer 2 which then proves its state and validity to Layer 1. If an L2 is
cheaper than L1 than L3 will be
cheaper and reducing the size of proof posted on the L1 making txn more efficient even for the validators to store.
Having different rollups for dapps where developers have the abiility to take the concept of programmable money even further. Many Rollups as a service startup are gearing up now, here are a few projects I like ->
Building custom rollups with Optimistic rollups. Their vision is to allow anyone to launch a rollup just within a few clicks and allow folks to modify it tot their needs.
Opside
They are building one of the coolest techs in the ecosystem and pioneering something called Native rollups which is a Zero knowledge rollup that posts Snark proofs to maintain and prove the integrity of the computation and also address the concern of data availability even at the layer 3.
They are building sdk which allows the functionality to develop rollups for anyone.
PS: A big part of the info was taken from the Starkware blogposts so a big shoutout to them! They are just doing mind blowing work!
<100 subscribers
<100 subscribers
No activity yet