DeFi

Polygon Miden Launches $35 Million Grant Initiative to Drive Innovation

Published

7 months ago

3 July, 2024

CoinFlix Staff

Composability Labs is developing Spark, an on-chain CLOB that improves DeFi trading on Polygon Miden by minimizing state storage.

Polygon Miden uses zero-knowledge proofs to reduce state bloat, ensuring efficient and scalable blockchain operations.

Polygon Technology, in a recent blog, said Composability Labs is advancing the decentralized finance (DeFi) space with Spark, a high-speed on-chain central limit order book (CLOB) that leverages the state minimization capabilities of Polygon (MATIC) Miden. By integrating state minimization and zero-knowledge (ZK) proofs, Polygon Miden enables developers to build scalable, efficient, and secure solutions that extend the feature set of Ethereum.

pioneer @compolabs builds an ultra-fast onchain clob with a state-minimized approach on polygon miden.

With Miden, Composability Labs are reinventing blockchain design by integrating state minimization.

improving DeFi with @Sprkfi order books:https://t.co/jqUNC22F28

— Polygon | Aggregate (@0xPolygon) July 1, 2024

State bloat is a well-known challenge in blockchain technology. The increased use of a blockchain leads to accumulation of additional states, slow down the network and increase transaction fees. Polygon Miden solves this problem by implementing a state minimization process that reduces the need for large data storage.

Polygon Miden’s zkEVM rollup technology enables block creation and authentication without storing the entire state. Zero-knowledge (ZK) proofs allow users to store data, with the rollup keeping track of verifiable commitments. When a user’s state changes, a ZK proof validates the transformation, ensuring efficient and scalable blockchain operations.

Spark, developed by Composability Labs, leverages Polygon Miden’s state minimization capabilities to create a highly efficient on-chain CLOB. Designed for spot and perpetual swaps, Spark leverages Polygon Miden’s unique account and note architecture to improve swap efficiency and transparency.

Key Benefits of Spark

On-chain execution: Ensures greater transparency and security compared to off-chain solutions.
Advanced Order Types: Supports a wide range of order types and provides a transparent view of market depth and liquidity.
Improved Trading Efficiency: Reduces critical implementation issues in DeFi, improving the overall trading experience.

Spark’s on-chain execution model mitigates the tradeoffs associated with off-chain order books, such as reduced transparency and potential security risks. By integrating standard practices for trading strategies and algorithms, Spark supports efficient and effective trading operations.

Composability Labs advances decentralized finance by implementing on-chain execution and creating performant order book-based protocols. Polygon Miden’s features, such as account abstraction and local asset storage, improve the user experience by ensuring efficiency and security. Each account in Polygon Miden is represented by a smart contract, making potential exploits more difficult as each account must be targeted individually.

Polygon Miden’s minimal state design enables local execution of on-chain CLOBs like Spark. Additional features, such as an on-chain price oracle for perpetual markets, are under development. These innovations aims to improve the efficiency, autonomy and scalability of DeFi markets.

Improving Ethereum’s DeFi Landscape

Polygon Miden combines elements of Bitcoin and Ethereum, providing a unique blockchain experience. It takes the concept of Bitcoin UTXOs (unspent transaction outputs) and enhances them with customizable logic, known as Notes. These Notes function like cryptographic bank checks with logic attached, allowing for conditional transactions.

Polygon Miden also advances the concept of programmable smart contracts Ethereum by enabling client-side proof of transactions. Users execute transactions locally and submit ZK proofs to rollup, preserving transaction privacy while improving performance. This approach allows Polygon Miden to process transactions in parallel, significantly improving transaction throughput.

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Related Topics:Composability laboratories Miden Polygon Spark

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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