The podcast explores Layer 3 blockchains' customization and low gas fees, focusing on Degen Chain's journey and Syndicate's role in its development. L3s offer customization for startups, with a vision for interoperability. The shift to L3 solutions from L2s is emphasized, with a focus on usage and adoption. Degen Chain aims to revolutionize on-chain communities through innovative experiences and decentralized mechanisms.
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Quick takeaways
Layer 3 blockchains enable limitless creativity with minimal gas fees, ushering in a new era of customization in the crypto industry.
DJN Chain's journey showcases rapid growth and community-driven innovation, paving the way for future L3 solutions and on-chain economies.
The future of L3 solutions lies in extensive customization, data interoperability, and enhancing decentralized applications in social media and gaming.
Deep dives
The Rise of Layer 3 Solutions in Crypto
Layer 3 solutions, such as DJN, represent a significant innovation in the crypto space. These platforms offer unparalleled customization capabilities with minimal gas fees, allowing for limitless creativity in chain customization. With transactions on DJN costing between a millionth and billionth of a penny, the potential for high volume experimentation and limitless customization becomes apparent. By bridging in and out of the base layer and offering low-cost data, L3s empower communities to design their economies in unique ways, fostering new business model innovations.
DJN's Evolution from Idea to Launch
DJN, an L3 solution, emerged from the forecaster channel in December, evolving rapidly from its initial concept to deployment in January. The platform, initiated by YASIC, introduced a tipping functionality on forecaster with distribution and morality features embedded in the base layer. By leveraging points and NFT boosts, DJN aimed to create a community-driven ecosystem. The journey from ideation to deployment involved intense development efforts, tokenomics design, and community engagement, showcasing rapid growth and user adoption.
Customizability and Future Prospects of Layer 3 Solutions
Layer 3 solutions like DJN offer not only immediate benefits of low gas fees but also a future of extensive customization. Customizable chains enable tailored functionalities through precompiles, allowing for innovative on-chain social use cases and data interoperability. While current L3 focus on asset interoperability, the impending shift towards data interoperability holds promise for enhanced community-driven applications. The vision of composability extends beyond assets to encompass seamless data interaction, shaping the evolution and adoption of layer 3 solutions.
The Potential of Layer 3 Solutions in Crypto
Layer 3 solutions, which aim to enhance decentralized applications, hold the promise of enabling richer on-chain applications in areas like social media and gaming. By leveraging more data on-chain and decentralized sequencers, these L3 systems could usher in new experiences, akin to the transformative impact of the iPhone on mobile applications. The move towards decentralizing sequencers, especially through concepts like base sequencing, can unlock collaborative ecosystems and lower transaction costs, making L3s a compelling choice for future blockchain innovation.
The Evolution and Opportunities of DJN Chain
The DJN Chain represents a significant step in blockchain evolution, offering low transaction fees and fostering an environment where developers can thrive. Though still in its early stages, the appeal of low-cost transactions drives community interest and anticipates future app developments. Projects like Dracula engaging in sports trading and Pearl offering unique experiences showcase the diverse possibilities of building on DJN, providing a glimpse into the potential for innovative app ecosystems on this emerging blockchain platform.
The conversation explores the concept of Layer 3 (L3) blockchains and their potential impact on the crypto industry. L3s offer unlimited customizations with near-zero gas fees, allowing for limitless creativity and experimentation. The discussion focuses on Degen, a community built on the L3 chain, and its journey from a tipping functionality on Forecaster to launching its own L3. The founders of Syndicate, the team behind Degen's L3, explain the need for L3s and the benefits they provide to different types of applications. The conversation also touches on the future of L3s and the potential for further customization. Degen Chain, an L3 solution built on top of Ethereum, offers low gas fees and customization options for developers. The ability to customize blockchains is seen as a powerful feature, and Degen Chain aims to pull customizations from startups specializing in that space. L3s are designed for customized functionality, while L2s are for scaling. Interoperability between L3s is a vision that many in the space are pursuing, and there are different approaches to achieving it. The security and value capture of Ethereum are important considerations, but the focus should be on usage and adoption. Degen Chain is just the beginning, and there is excitement about the future development and growth of on-chain communities.
11:50 Benefits of L3s for Different Types of Applications
29:18 Degen Chain: Low Gas Fees and Customization
31:06 L3s vs L2s: Customized Functionality vs Scaling
32:04 Interoperability: A Vision for L3s
34:32 Usage and Adoption: The Key Metrics
36:30 The Future of On-Chain Communities
Disclosures
Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token. Delphi’s transparency page can be viewedhere.
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