.png){kind=spacer}
Industry, Market, Side Chains & Next Milestones
TheVoice, Niegz and Rob back in a new episode approach Bitcoin’s last movements and confirm their expectations of more months of correction. They briefly talk about the number of coins becoming unlocked this month, $2b in token value.
The close this section with a new prediction from Kitco.com expecting a $200k BTC top for this cycle.
Cryptocurrencies are often regarded as an edge to the inflationary fiat systems all around the world. While stocks represent ownership of companies and cryptocurrencies do not, the cryptocurrencies market and stock market are often compared. Cryptocurrencies are more comparable to FIAT.
People are also concerned by how the Cryptocurrencies Market would react to a crisis. While cryptocurrencies are protected in some aspects from the actions of governments their market still obeys to some common conditions. If there is tension for investors, it reflects everywhere. We have seen with the COVID crisis that cryptocurrencies were hit as much if not more than the stock market or national currencies. What we can also see however, is the speed at which cryptocurrencies have been able to recover comparatively to those other assets.
While the cryptocurrencies market will be impacted by anything impacting the confidence of investors to invest, it also demonstrated higher abilities to recover from those crisis.
The initial idea behind Bitcoin was to have people being directly responsible for their own network. However, due to the heavy competition for mining Bitcoin with the apparition of huge farms, solo mining has become unrealistic. The emergence of Mining pools offered smaller network participants an opportunity to pool their resources in order to maximize their chances to win. Mining pools are an architectural centralization of the bitcoin network; they do have some critical factors going away from Satoshi’s initial vision. But technology finds ways to move forward sometimes in opposite directions than the creator intended. Mining pools are today a critical component of the Bitcoin network, so much so that this is the only way to mine Bitcoin, even if you were to do solo mining, you would need your own pool, it’s now part of Bitcoin core.
The DiviWallet mobile is a non custodial wallet developed by our partner Divi Labs. DiviWallet supports BTC, LTC, ETH, ERC20 tokens and of course DIVI. In the wallet you can Send your crypto, Receive it, Convert to other crypto, buy crypto directly with your credit card. It also offers the only mobile options to have a Divi Staking Vaults.
The DiviWallet has been undergoing major maintenance for an extended period. Our partner is glad to inform you that it is slowly coming to an end. While there are still some critical parts ahead, most of the work is now completed.
Divi Labs is looking for a Senior Software Engineer in order to strengthen its mobile team for the next steps. You can find the job offer on this link https://www.divilabs.io/careers/senior-software-engineer-mobile.
Divi labs is still planning to add NFTs, Staking Vaults V2, an Assets screen with performance metrics as well as some flow improvements once the maintenance is completed.
Blockchains like Ethereum and its clones intend to answer all challenges of blockchain through their EVM or similar approaches. We can also see the same kind of technology reaching Bitcoin. Unfortunately, it is pretty clear that this model will not be sustainable in the long run. We can already see fees skyrocketing. Interoperability between blockchains is needed.
Cosmos offered a solution for this but it is limited to the Cosmos ecosystem and the infrastructure is centralized through their HUB. Blockchain have to be developed around their sdk to be able to be compatible, and they use smart contracts for blockchains not supporting their tech.
Divi Side Chains offer a unique solution to those issues. Our partner is going one step further and offloads all services currently deployed on smart contract to totally independent layer 1 Side Chains. The unique technology they developed allowing them to connect two chains together enables this model. It addresses scalability and adaptability issues without compromising on security and decentralization.
The demand for blockchain based products and the challenges for developing trustless solutions led to many trade offs. DeFi has suffered from a lot of hacks and other deceptive schemes defrauding users from their investments. Now, due to the challenges in reaching blockchain interoperability, new technologies appear based on Trust-Minimized solutions. “Trust-minimized” is a deceptive branding used to appear like “trustless”. It consists of solutions attempting to minimize the risk of centralization through technical solutions. Oracles, Oracles network (relayers), multisig smart contracts, all are part of the Trust-Minimized solutions being now offered in the industry. Those offers come due to the lack of technology able to enable complete interoperability through trustless technologies. Divi Side Chains and our partner’s unique technology solve this issue.
The trio provides more details on Advanced Validator Vaults. A clarification first about Side Chains validators vs Staking Vaults. Advanced Validator Vaults will not require Divi, unlike Staking Vaults. Divi Side Chains Validators are paid with fees coming from the Side Chains.
They also talk about the Side Chains marketplace they envision, displaying deployers, volume, fees and other key metrics allowing a user to pick and choose which Side Chain they want to support with their Advanced Validator Vault with one click. They also announce Advanced Validator Vaults will also optionally be capable of hosting a Divi Staking Vaults.
The next milestones for Divi directly will mainly be continuing the work we have started on our online presence, completing the website with a new design and refreshed information focusing on the next chapter Side Chains.
For our unrevealed partner the next milestone is Q3. Some critical things are happening for them in summer and we should be able to reveal the partner’s name as well as their strategy for Divi by Q3 2024.
___________________________
Watch the full episode
0:00:00 Intro
0:00:56 Market Update
0:01:21 DeFi Token Unlocks (2B)
0:07:12 Kitco Speculation (200K)
0:07:42 Crypto Currency vs Stock Market
0:14:37 Are Mining Pools Centralization
0:27:39 Technology Always Improving
0:29:36 Satoshi Whitepaper Not Bible
0:31:24 No Fear Cleaning Code
0:33:00 Regulations And Regulators
0:39:11 DiviWallet Mobile
0:44:25 DiviLabs Hiring
0:48:50 Mobile Staking Vaults Changes
0:53:28 All-In-One Limitations
0:59:53 Trust-Minimized vs Trustless
1:04:33 Advanced Validators & Side Chain Marketplace
1:08:00 Economy Of Side Chains And Rewards
1:12:47 Next Milestones Divi & Partners
1:19:08 Closing Statements, Fun
Copyright © 2023 Divi Project. All Rights Reserved