🛡 Comments have now been added to all posts 🛡

🛡 100K reached in 5 days of channel forming, your the trailblazers of Babylon of Koi, this is only the beginning and thank you all for joining the present and future of web3 🛡

🔹️ Introducing Story Protocol Opportunity 🔹

Story Protocol is building the Programmable IP layer to bring programmability to IP. Story Protocol transforms IPs into networks that transcend mediums and platforms, unleashing global creativity and liquidity. Instead of static JPEGs that lack interactivity and composability with other assets, Programmable IPs are dynamic and extensible: built to be built upon. Creators and applications can register their IP with Story Protocol, converting their static IP into Programmable IP by declaring a set of onchain rights that any program can read and write on.

🔹 What is the Opportunity 🔹

To become a very early user, unlock your creative mind and find your inner author continuing stories created all over the globe in return for a commemorative Story Protocol NFT. With the project having a successful funding round of $54M led by a16z, this is a no brainer and only takes a few minutes to complete;

Please go to the following link below and follow the on screen instructions to be listed for the NFT:

https://chronicles.storyprotocol.net/

Here is an example of myself adding to a story below, see if you can guess which is my addition:

https://chronicles.storyprotocol.net/graph?highlight_id=309325&timestamp=1709681106661

Please remember, this is a recently developed platform, so if you find any bugs or the platform isn't running as it should, please report them using the official channels which you'll find below this post;

🔹 Story Protocol Official Links 🔹

Website: https://storyprotocol.xyz

Add your part to the stories:
https://chronicles.storyprotocol.net/

X Profile: @storyprotocol

Discord: https://discord.com/invite/storyprotocol

Github: https://github.com/storyprotocol

Story Protocol Guide:
https://docs.storyprotocol.xyz/docs/what-is-story-protocol

Developer Explorer:
https://explorer.storyprotocol.xyz/

🐡 Koi Tips #debank 🐡

Introducing Debank:

DeBank is a defi dashboard. Users can use it to track their portfolio, access data and analytics for decentralized lending protocols, stablecoins, margin trading platforms and DEXes. Developers can integrate API end-points including information about users, chains, protocols and tokens in their programmes.

What's the importance of Portfolio Tracker;

It does not matter whether your a beginner in this industry or an expert, to successfully manage and maintain your portfolios, using a portfolio management tool is a great resource, however what makes debank different is its tools available and even has a web3 wallet called Rabby Wallet, safer to use than Metamask;

▫️ Social Aspects of Debank ▫️

▫️ID: This allows users to create a custom username to personalize their DeBank portfolio. Minting an ID costs $96 and also allows users to add a bio and access other features.

▫️Followers / TVF: With a focus on being a social app, DeBank allows you to follow other users. TVF (Total Value of Followers) is a representation of the total portfolio value of every wallet currently following you.

▫️Hi Offer Price: This amount represents the price a user will have to pay to send a wallet a DM on DeBank.

▫️Portfolio Value: This shows the current value of all of your holdings, as well as the 24 hour change in your portfolio’s value.

Debank started in January 2022 and the platform has still yet to release an asset, if this was to happen, the likelihood of having a debank ID minted on chain would be high on the list of criteria of any potential token launch from the platform in the future;

▫️ How to Mint a Debank ID ▫️

Go to the following link below and connect to the platform using your web3 wallet of your choice, once you've signed your wallet message you'll be able to see your own portfolio in all its glory;

https://debank.com

Where is says your connected $ETH address, next to that you'll see a orange button saying 'Mint Your web3 ID', select that option and follow the prompts on screen to successfully mint your ID 🐡

🔺️ Projects Shared Updates 🔺

🔘 #koii - So far users have earned 22M $KOII since the inception of the nodes and has hit 7K daily active nodes twice within one week. For more information on how to run a $KOII node, please press the three dots and search #koii and all the information will be presented to you.

🔘 #grass - Growth of the project as flew to over 600K users in 7 months and are going to expanding in 'data cleaning & preparation' in the coming months. This months epoch *set amount of time for a cycle* has been expanded to finish on the 8th March, therefore epoch 3 will start accordingly. Lastly, update on the referrals, pending 19, which means the platform needs to have those nodes pass 100 hours uptime to gradually increase, I get roughly 1.8K daily and started in the last week of January 2024. For more information on how to setup #grass please press the three dots and search #grass and all the information will be presented to you.

🔘 #tea - The team has listened to their community and have extended all Challenge 1 tasks for another week, that comes with an account balance of 10K testnet tea tokens. If you haven't joined already, please use the following link below, also the link in the #tea post will be updated accordingly:

https://app.tea.xyz/sign-up?r=AkiMzUKEVIZ

For more information on how to setup #tea protocol, please press the three dots and search #tea and all the information will be presented to you.

🔘 #inco - testnet has had over 590K transactions, 329K wallet addresses and averaging between 46K and 64K daily transactions respectively since launching just a few days ago which is a incredible achievement in such a short space of time for the project. What I'm seeing from our community is multiple new additions to Inco's official telegram channel which I love to see, please remember I only share intel and/or projects which I think have potential and/or a true value to the industry, so please continue to test Inco and have fun doing so.

🔘 #capx - I'm not sure if we crashed the dapp, but CapX has been having some issues especially on mobile and would recommend accessing your profile on a desktop if you can, CapX team know about the issue and expect a fix in the near future. Live on the dapp now are Task 5 and Task 6 for 10 Units and 20 Units respectively, connecting Discord to your profile, once your done completing those, you'll be able to mint your own 'CapX Fam Badge', this mint has not got a limit and minting for the Beta Season Pass is coming soon, with a limit of 75K passes and a reward pool of 4M $CAPX tokens respectively and will update once the pass goes live. For more information on how to setup #capx, please go to the three dots and search #capx and all the information will be presented to you.

🔘 #outposts - With 5K+ mints and 2K X followers, this project is growing steadily and with our help can reach new heights. Regarding the raffle, that idea has been scrapped as there wasn't alot of data added to the sheet, which we need for future use and I'll explain this later this week with a introduction into a platform, so there is 10 slots available, so if you want a slot and will actually use the platform for your bi weekly web3 newsletter, please leave your $ETH address in the comments below, once I've activated your address, you'll be able to connect your wallet to https://outposts.io and have access to there platform.

🔘 #tabi - Since the testnet started 3 days ago, total wallets = 341K, total transactions = 1.33M and total amount of faucet claims = 959K respectively and this testnet launched three days ago, keep testing #tabi and for more information on how to setup #tabi, please go to the three dots and search #tabi and all the information will be presented to you.

🔘 #story - $ETH Denver was last week where the team had a Inferstructure and Tooling tack competition which went down as a succes with the top three being Olive Juice, Blockgames and Coal - In The Loop respectively.

Co-Founder Jason Zhao put together a showcase of programmes IPs *Intellectual Property* demos at the event, the link is below if interested to watch:

https://x.com/StoryProtocol/status/1765065707505738050?t=ogf4k-2rZaN2EQ0AV-x3hw&s=09

For more information on how to start with #story Protocol, please go to the three dots and search #story and all the information will be presented to you. 🔺

🍥 Web3 Sector Showcase 01 #ceps 🍥

Welcome to a brand new feature showcasing the under the radar sectors in the industry and we are starting with CEPs *Community Engagement Platforms*;

History of participation in growing a community in web3 and having criteria for any drops was only based on wallets and on-chain activity with no sybil or bot protections and individuals could farm drops over multiple wallets, which still happens today, but alot less often;

In March 2021, Galxe was created with the mission of five key points:

🍥 Raise Brand Awareness with Customized NFTs

🍥 Create a Better Sense of Ownership with NFT-Powered Loyalty System

🍥 Increase Engagement with Gamified NFT Campaigns

🍥 Promote Staking and Governance

🍥 Identify Long-term Contributors

To date, Galxe has over 5K industry partners seeing the value of have such a platform to utilise and leverage of in return for a thriving active communities and that's the key word here 'active'. Galxe has become the pioneers and innovators of this sector, launching its own token $GAL back in February 2022 with the backing of Binance and got a renounced Binance Launchpool slot secured in April 2022 respectively;

🍥 Other Community Engagement Platforms in the sector:

🍥 Layer 3 - Layer3 has developed an unparalleled portal to the crypto universe. They have guided over 800,000 unique users through over 25 million on-chain actions.

🍥 Intract - Intract is a platform that helps users navigate the Web3 world, thereby building a suitable personal investment strategy to earn high profits. The project provides new investors with basic knowledge about Web3 and the opportunity to receive incentives up to $100 thousand. In addition, participants can customize their budget and time on the platform to anticipate new potential ecosystems, keep their digital wallets safe, calculate appropriate yields.

🍥 Zealy - Zealy is a platform that helps web3 communities drive growth and engagement through a work-2-earn mechanism that activates members by incentivizing them to contribute towards the overall growth of the community.

🍥 TaskOn - TaskOn is a Web3 Collaboration Platform that brings users a deep Web3 experience, including reward campaigns, first-hand information on Web3 projects, and more.

🍥 QuestN - QuestN is your one-stop tool for Marketing, Growth, and Analysis in Web3 - incubated by Hogwarts Labs

If you've read the post and noticed I didn't mention any officially launched tokens for the other 5 platforms as all those mentioned are yet to launch their own token for there respected platforms, however time is a resource we need to use wisely, so below I'm going to rank the CEPs in order of potential and total value to web3 so far:

A+ Layer3
A Intract
A- Zealy
B+ TaskOn
B. QuestN

I highly recommend you all explore https://galxe.com first, before adventuring into the other platforms, this a perfect starting point for anyone starting in this sector and recommend doing the 'Mission web3' campaign if you new to this space, otherwise I'd recommend you all looking at the following:

▫️Ignition Airdrop Programme by io.net - https://bitly.ws/3fgKA

▫️Last Chance for Early Testnet Access by Curvance - https://bitly.ws/3fgKL

▫️Intro to Bracket Labs by Bracket X -
https://bitly.ws/3fgKt

🍥 Official Community Engagement Platforms Links 🍥

Galxe - https://galxe.com

Layer 3 - https://layer3.xyz

Intract - https://intract.io

Zealy - https://zealy.io

TaskOn - https://taskon.xyz

QuestN - https://questn.com

All socials will be available to access via the official links below, also let me know in the comments what you all think of this sector and start getting to know your fellow Koikaisians 🍥

🔸 Introducing Espresso Testnet Opportunity 🔸

Layer 2 rollups are delivering on their promise to scale Ethereum and make it useful for a wider range of users and applications, but currently rely on centralized sequencers.
Espresso Systems is developing the Espresso Sequencer to support rollups in decentralizing, without compromising on scale. The Espresso Sequencer is designed to offer rollups a means of achieving credible neutrality, enhanced interoperability, mitigation of negative effects of MEV, and long-term economic incentive alignment with L1 validators.

🔸 What is the Opportunity 🔸

To stress test this testnet to see if they are durable and reliable to maintain the relentless traffic which web3 provides. This is not an incentivised testnet, however it's very early into the project development, you'll be testing raw RPCs *Remote Procedure Call* and it's a huge learning opportunity as I'll be introducing you all to a new resource, you'll see why I asked for $ETH addresses earlier after experiencing this testnet;

🔸 How to test Espresso 🔸

Firstly you'll need to add the Remote Procedure Call (RPC) to your web3 wallet of your choice by using the following data:

Network Name: Gibraltar Milan
RPC URL: https://milan-devnet.rpc.caldera.xyz/http
Chain ID: 83782
Currency Symbol: $ETH
Blockchain Explorer: https://milan-devnet.explorer.caldera.xyz/

🔸 How to use Gibraltar Milan 🔸

Once you've got the RPC added in your web3 wallet, please go to the following link below to acquire test $ETH on the Sepolia $ETH network:

https://www.infura.io/faucet/sepolia

Add your $ETH address in the box and select 'Log in and recieve $ETH', then you'll get an orange box pop up to create a new account, select that box, sign up for a free Infura account and then go back to https://www.infura.io/faucet/sepolia to request your 0.5 Sepolia $ETH tokens;

Now you've got your Sepolia $ETH tokens ready, it's time to now bridge your tokens onto the Gibraltar Milan rollup by going to the following link:

https://milan-devnet.calderabridge.xyz/

Connect your wallet, choose the amount of Sepolia $ETH you want to send over and make the transaction, you'll only need 0.2 Sepolia $ETH for this, you have now successfully bridged tokens from Sepolia $ETH to Gibraltar Milan;

So you've got your tokens, your ready for the next step, which is minting smart contracts on chain as I now will introduce another web3 resource called Thirdweb, I'm going to go in more detail at a later date, but simply put Thirdweb is a web3 resource which has ready-made code bases for you to use at your convenience able to testnet various chain across the industry;

Go to https://thirdweb.com/dashboard and once you've arrived there, connect your wallet and make sure you've got Gibraltar Milan as your network, you can go through the tutorial provided or selecting Explore and then scrolling down to select the 'Token Contract' and then 'Deploy Now';

A window should open asking for metadata for the token you'll be creating, choose a name for your token and scroll down right to the bottom until you see 'Network/Chain' tick the box stating 'Import' and below that will be where you choose your network of choice to mint the smart contract onto, select the box and choose 'Add Custom Network';

Use the RPC information that you used earlier for Gibraltar Milan and make sure you select the testnet option when adding the network, you'll know it's successfully added by a prompt on screen, where is says the number below the network, that's telling you how many transactions it'll take to mint the contract, in this case it's two, select the 'Deploy Now' button and confirm the two transactions, if you get two green ticks it's a successful mint and you've now successfully minted a smart contract on a Layer 2 testnet;

This is a recently developed testnet, so please be aware not everything will be smooth sailing and if you find any bugs, please report them to the project using official channels;

🔸 Official Espresso Links 🔸

Website: https://espressosys.com/

X Profile: @EspressoSys

Discord: https://discord.com/invite/YHZPk5dbcq

Github: https://github.com/EspressoSystems

Espresso Guide: https://docs.espressosys.com/sequencer/espresso-sequencer-architecture/readme

Espresso Blog: https://www.espressosys.com/blog

🛡 This weeks market overview with data provided by #dropstab 🛡

🛡 Most anticipated upcoming web3 events for the month of March 2024, highlights include $IMX, $SAVM and $ORI respectively courtesy of #cryptodiffer🛡

⏰ Time Sensitive Curvance Galxe Campaign Opportunity ⏰

Get one last chance to participate early in Curvance’s incentivized testnet.

Complete the following quests to help us celebrate the Curvance’s Grant Announcement with the Wormhole Foundation by follow to this link below:

https://galxe.com/curvance/campaign/GCvC6t4K7q

⏰ Worldwide times for the end of this Galxe Campaign ⏰

🕐 Antarctica = 9am - March 10th
🕐 India = 9:30am - March 10th
🕐 China = 12pm - March 10th
🕐 Japan = 1pm - March 10th
🕐 Adelaide = 2:30pm - March 10th
🕐 Canberra = 3pm - March 10th
🕐 Auckland = 5pm - March 10th
🕐 Mexico City = 10pm - March 10th
🕐 Chicago = 10pm - March 10th
🕐 Dallas = 11pm - March 10th
🕐 Washington DC = 12am
🕐 Caribbean = 12am - March 11th
🕐 Brazil = 1am - March 11th
🕐 GMT = 4am - March 11th
🕐 EU = 5am - March 11th
🕐 Central America = 5am
🕐 Nigeria = 5am - March 11th
🕐 Egypt = 6am - March 11th
🕐 Kenya = 7am - March 11th

I'll reveal more information about Curvance once the testnet launches, just know it's going to make a big impact at the heart of the DeFi sector of the industry;

▫️Galxe Profile Setup ▫️

Go to https://galxe.com and select the drop down menu where you'll see a blue button saying 'Log In', press that and connect your wallet accordingly and you'll of successfully setup your own Galxe profile for future use;

Once you've setup your Galxe account, please press the colour circle at the top of the screen and select social accounts, I advise you connecting all the following social accouts listed below for future use of the platform if you've got them:

▫️ X/Twitter
▫️ Discord
▫️Telegram

If you want to take a look at Curvance before the testnet commences, please go to the link below:

https://www.curvance.com/ ⏰

🛡 200K in 10 days of this community forming, I don't normally get lost for words, but damn and must be one of, if not the fastest growing community on Telegram;

Just remember your all still early into this asset class and gathering as much knowledge and know-how in this present time, will stand you all very positively for the future;

KoiKasians, thank you for you all becoming apart of this community and together we'll all grow in the present and future of web3 🛡

🛡 Latest funding rounds from the week begining the 4th March to 10th March respectively, take note of Zama and TokenFi as ones with the most potential 🛡

❇️ Satoshi Protocol testnet mint opportunity - ends 18th March❇️

The Satoshi Protocol serves as a cornerstone for the BTC DeFi evolution, introducing a CDP-style stablecoin system built on the BEVM.

❇️ How to mint Satoshi Protocol Genesis NFT❇️

Go to the following invite link below to join the $BEVM discord to access the $BEVM faucet:

https://discord.gg/gRJ72RcrNK

Once in the server, go to the faucet channel and type the following:

/faucet address: your $ETH address and press send

Now your ready to access the app and connect your web3 wallet to the $BEVM *Bitcoin Ethereum Virtual Machine* canary testnet by going to the following link below:

https://app.satoshiprotocol.org/dashboard

Once you've are on the app, please look for the drop down menu at the top of the screen, open and scroll down to see 'Connect Wallet', press this button and a you should be prompted to add the $BEVM testnet chain to your wallet, press approve and your now ready to create your first position on Satoshi Protocol;

❇️ Stage 1: Create Position on Satoshi Protocol ❇️

❇️ Go to the following link to access the Satoshi Protocol position interface below:

https://app.satoshiprotocol.org/position

❇️ Click on 'Create Position;

❇️ Deposit BTC and borrow SAT, making sure the collateral ratio remains above 110% and that you borrow a minimum of 18 SAT. I used 0.000325, this will get your to the minimum $SAT requirement;

❇️ Click 'Approve' and then confirm the transaction in your web3 wallet;

❇️ Once approved, click 'Create Position' and follow the prompts from your wallet to complete the transaction;

Once you've successfully created a position and got your $SAT, your ready for Stage 2;

❇️ Stage 2: Deposit $SAT into Satoshi Protocol Stability Pool ❇️

❇️ Go to the following link to access the Satoshi Protocol Stability Pool below:

https://app.satoshiprotocol.org/sp

❇️ Input the amount of SAT you wish to deposit, I only used half and put 9 $SAT in for reference;

❇️ Click 'Deposit' and follow prompts to complete the transaction....

❇️ Stage 3: Mint the Satoshi Protocol Genesis NFT ❇️

❇️ Go to the following link to access the Satoshi Protocol campaign interface below:

❇️ Scroll down to where it says requirements and if you've got green ticks your all set to mint, if not please see part one of this opportunity above;

❇️ Press the Mint button and follow the prompts from your web3 wallet to successfully mint the genesis NFT, you'll know you've been successfully as the button will change to saying 'Minted'

❇️ Bonus Satoshi Protocol Stage - 7K OATs remaining ❇️

❇️ Go the following link to join Satoshi Protocol Galxe Campaign:

https://galxe.com/YwrNUBkpFyTpkRJTcKmZcX/campaign/GCXa9t4FDx

❇️ Complete the social tasks on screen and once completed you'll have all green ticks next to each task;

❇️ Proceed to mint the Satoshi Protocol Pioneer OAT for free;

This is a recently developed testnet, so please be aware not everything will be smooth sailing and if you find any bugs, please report them to the project using official channels;

❇️ Official Satoshi Protocol Links ❇️

Website: https://satoshiprotocol.org/

X Profile: @SatoshiBEVM

Discord: https://discord.gg/satoshiprotocol

Satoshi Protocol Guide:
https://docs.satoshiprotocol.org/intro/introduction

Telegram: https://t.me/satoshi_sat

Satoshi Protocol Blog:
https://medium.com/@satoshi-protocol

Satoshi Protocol Web App:
https://app.satoshiprotocol.org/dashboard

Satoshi Protocol Galxe Campaign:
https://galxe.com/YwrNUBkpFyTpkRJTcKmZcX

🔥 #Ethereum L2s gas prices slashed by #dencun upgrade on the blockchain 🔥

Tomorrow, March 13, the highly anticipated #dencun upgrade will roll out;

With Ethereum gas fees hitting new highs with every bullrun, the urgency for the dencun upgrade is clear;

This upgrade promises to revolutionise L2 ETH scaling, reducing transaction fees and enhancing scalability for the ETH ecosystem;

For more information on this subject matter, please refer to the link below courtesy of #decrypt:

https://decrypt.co/221203/ethereum-dencun-upgrade-bullish-analysts

📜 The provenance of Babylon of Koi 📜

It's a unique name for a special community, I wanted something so it makes someone think why is it called the way it is, so below I'm going to explain the meaning behind the name and what that symbolises;

📜 Part 1: Babylon 📜

For this we have to back to before christ, right to the beginning of global civilizations. In (539 - 330 BCE), Babylon was the capital of the first world empire in history, also known as the Achaemenid Empire. At its height, it united a territory stretching from present day India to Libya and it would take 2,000 years before significantly larger empires emerged in early modern Eurasia.

The sixth and best-known of the Amorite dynasts, Hammurabi (1792–50 bce), conquered the surrounding city-states and raised Babylon to the capital of a kingdom comprising all of southern Mesopotamia and part of Assyria (northern Iraq). Its political importance, together with its favourable location, made it henceforth the main commercial and administrative centre of Babylonia, while its wealth and prestige made it a target for foreign conquerors.

📜 Why Babylon 📜

It's fitting that the first ever world empire was known for its wealth and prestige, taking this into account, this is the reason why Babylon was chosen to be in the name of our community;

📜 Part 2: Koi 📜

The koi are an ancient species of fish that have been part of Asian cultures for thousands of years. It is thought that the earliest depictions of koi date back to the Jin dynasty in 265 A.D. But it was during the Edo period (1603-1868) that the spiritual meaning of koi became prominent in Japanese culture. During this time, many believe that a belief formed about the transformative powers of koi and their ability to ascend into a dragon if they swim upstream against strong currents with great determination and perseverance;

Through this legend, Koi became a symbol of many positive spiritual meanings, including hope, luck, success, ambition, and strength;

📜 Why Koi 📜

Koi a symbol of good luck, perseverance, and wealth. They also represent overcoming struggles and have even come to signify strong friendships due to the fact that they rely on each other for survival against strong currents;

Furthermore, the bright colors and bold patterns found on some varieties of koi have led many to believe that they can help bring peace, harmony, and positivity into one's life. The meaning of koi fish has transcended the boundaries of culture and become a universal symbol of strength in the face of obstacles;

This is what our community is all about and was the perfect combination of history and symbolism to bring into the present day and present a new meaning to these historic periods in time;

This is also the reason why our community is called the KoiKasians, we are stronger together and together we'll rise to prosperity and eternal happiness;

For more information on the first world empire and the symbolism of koi, go to the following links below:

Babylon: https://www.britannica.com/place/Babylon-ancient-city-Mesopotamia-Asia

Koi: https://www.kodamakoifarm.com/what-is-nishikigoi-history-meaning/

🛡 This weeks market overview with data provided by #dropstab 🛡

🐟 Introduction in Blockchain Architecture and Blockchain Scaling Solutions 🐟

Blockchain architecture refers to the components and subcomponents or layers that make up a complete blockchain system. Each layer has a unique role, from storing data to maintaining network connectivity and ensuring consensus across the system;

Understanding these layers is crucial for blockchain developers and start-up entrepreneurs seeking to leverage blockchain technology effectively.

🐟 What are the types of Blockchain 🐟

🟡 Public Blockchain 🟡

Public blockchains are open to everyone and are not restricted by permissions. They can employ a variety of consensus mechanisms, although scalability can be challenging due to the increasing demands of a broad user base. Bitcoin and Ethereum are classic examples.

🟡 Private Blockchain 🟡

Private blockchains are created for enterprise needs. It is a permissioned blockchain that is only accessible to a selected few, typically for business organizations. Hyperledger Fabric is one of the most prominent private blockchains.

🟡 Hybrid Blockchains 🟡

Public and private blockchains have their pros and cons. The idea behind a hybrid blockchain, like Dragonchian, is to get the best of the two worlds.

🟡 Consortium Blockchains 🟡

Consortium blockchains, such as R3 Corda, are owned and governed in partnership, i.e., when several private nodes form a consortium blockchain.

🐟 What are the layers of Blockchain 🐟

🟣 Application Layer 🟣

Provides blockchain-based applications for the end user;

The application layer is the end product of the entire system offering specific products for the users, for example: wallet, lending, staking, etc.

🟣 Service and Optional Components 🟣

Amplifies blockchain capabilities with additional features;

The services layer creates Web3 interconnection, removing barriers and enabling smooth interactions. Optional elements include Decentralized Autonomous Organisations (DAOs), aiding administration and communication in networks like Arbitrum and Polygon, but absent in Bitcoin and Ethereum. Oracles bridge Web3 applications with real-world data on asset pricing, aiding off-chain computations;

Hot wallets store on-chain assets but also serve as access points, for example, Metamask or Kaikas, a native wallet for Klaytn. Lastly, block explorers track chain health, helping detect technical glitches and security breaches and mitigate issues early.

🟣 Protocol (Consensus) Layer 🟣

Set rules for node agreement on the state;

The protocol layer sets the rules for blockchain participation, with the consensus mechanism being its key component. Consensus ensures agreement among nodes for block mining and processing and outlines validator requirements, varying across proof-of-work, proof-of-stake, and other consensus mechanisms;

Propagation protocol broadcasts decisions, while protocol audits ensure security against threats like 51% attacks.

🟣 Network Layer 🟣

Provides for peer node interaction;

The network layer enables effective discovery and interaction among peers called nodes. Typically, a node locates a bootnode, which scans for available peers and initiates bonding. As information circulates, it’s safeguarded through a Trusted Execution Environment (TEE) to maintain integrity. Node session maintenance varies across networks; for example, Ethereum employs Recursive Length Prefixes, defining the time nodes take to locate, authenticate, and share data.

🟣 Data Layer 🟣

Ensures secure and confident message transmission;

The data layer of blockchain technology is primarily concerned with data storage and structure. It houses the blockchain, a linear succession of blocks that store transaction information. Depending on the specific blockchain, the data structure can range from a simple transaction list, such as the one used by Bitcoin, to a more intricate structure, like Ethereum’s state trie, which stores contract state information;