Offchain Labs, the company behind Arbitrum, has announced the launch of Tandem, a new initiative to support teams building on its platform.

#OffchainLabs #offchain #arbitrum $ARB #BinanceTurns7 #MarketDownturn

OffChain Shanghai meetup is coming

#offchain #binance

OffChain Beijing meetup is coming.

#offchain #binance #offchainbeijing

Hydranet, known for its expertise in off-chain trading, just released the Hydranet DEX, a Layer 3 trading platform that integrates multiple off-chain protocols to enable trustless, cost-effective and near-instant cross-chain trading.

#crypto2023 #offchain
#multichain

Phala Network, a web3 infrastructure provider that enables secure and private computation, has launched Phat Contract, an enhanced smart contract solution that allows developers to easily connect and interact with off-chain data and services.

#web3

#blockchains

#offchain #crypto2023

on-chain NFTs are NFTs that store the entire image and metadata on the blockchain, while off-chain NFTs are NFTs that store only the smart contract on the blockchain and the image and metadata on external services.

On-chain NFTs are more secure and verifiable, but also more expensive and limited in size. Off-chain NFTs are cheaper and more flexible, but also more vulnerable and dependent on external services.

#NFT #onchain #offchain #dyor

Shrapnel introduces METAL, an off-chain points system, earning through Moku's social questing platform, allowing users to level up through loyalty tiers and receive various benefits.

#shrapnel #metal #offchain #Memecoins #buythedip

What Is an Off-Chain Governance?

In a decentralized governance network, stakeholders vie for influence through various collaborative efforts. This includes engagements across social media, online forums, conferences, and other gatherings, forming the bedrock of off-chain governance practices within public blockchains.

Much like traditional politics, off-chain governance mirrors a complex interplay of interests, with different factions striving to sway support towards their agendas. Unlike on-chain systems, there are no hardcoded rules dictating actions; rather, decisions are guided by the perceived interests of stakeholders in relation to others.

Prominent public blockchains like Bitcoin and Ethereum predominantly rely on off-chain governance mechanisms. Proposed changes undergo extensive deliberations online, involving key players such as core development teams, developers, miners, researchers, and the broader user community. While anyone can participate in these discussions, there's no formal on-chain voting mechanism.

Despite the significant hash power wielded by large mining pools, it doesn't translate into governance rights within Bitcoin. Miners' sole function is to validate transactions, with no direct influence on protocol decisions.

Ethereum follows a similar governance model, with Vitalik Buterin leading the core development team. Discussions surrounding protocol upgrades follow formal channels such as Bitcoin Improvement Proposals (BIPs) and Ethereum Improvement Proposals (EIPs), with stakeholders signaling their support or dissent through various channels.

In cases of disagreement, stakeholders can either persuade others to their viewpoint or opt for a hard fork, allowing them to maintain or alter protocol aspects they deem crucial. While off-chain governance endeavors to accommodate diverse interests, decision-making power tends to gravitate towards core developers and miners due to the lack of binding agreements.

#offchain #Governance

Offchain Labs accumulated 1.217 million ARB from Binance an hour ago at a unit price of $0.9 (totaling $1.1 million) through the address 0xb41, as monitored by Spot On Chain

#crypto2023 #offchain

Offchain Labs has launched Arbitrum BOLD, an upgrade to Arbitrum's dispute protocol, ensuring only valid states are confirmed on the parent chain of the Arbitrum chain, like Ethereum.

#offchain #ArbitrumARB #ArbitrumBOLD #BullorBear