“The Norwegian government has just announced that it will release a solution at Public Ethereum,” said Jon Ramvi, founder and CEO of blockchain startup Symfoni, sponsored by the Ethereum Foundation, on Friday (June 24). rice field.
A Twitter thread posted by Ramvi on June 24th describes this solution (“Captable Platform for Unlisted Companies”).
- “”The platform is natively deployed on Arbitrum, a layer 2 scaling solution for public Ethereum networks. Arbitrum is faster and cheaper to trade than the Ethereum mainchain, but it still ensures full security of the mainchain. Layer 2 is Ethereum’s scaling strategy.“”
- “”The ERC1400 standard represents market share. This standard meets the requirements of securities and is a combination of ERC20 and ERC721. At the core, the platform is built around Consensys’ ERC1400 implementation.“”
- “”Ceramics are used for personal data. The EU Privacy Regulation (GDPR) provides for the right to be forgotten. Therefore, personal data must be able to be deleted. For example, a shareholder sold his stock 10 years ago and now wants to remove himself as a shareholder.“”
- “”The SDK is available to help traditional backend and Web 2.0 developers understand and use the platform. Developed by Symfoni. This allows both government and the private sector to capture data and extend the capabilities of the platform.“”
Built by Offchain Labs, Arbitrum is “a suite of Ethereum scaling solutions that enable high-throughput, low-cost smart contracts while maintaining unreliable security.”
According to an Offchain Labs blog post published December 17, 2021, Arbitrum uses optimistic rollups instead of ZK rollups for:
“”We built Arbitrum as an Optimistic Rollup (OR) because we believe that OR is the best way to meet the user’s realistic needs for a secure and unreliable EVM compatible L2. We chose the optimistic one over ZK because of the scalability and cost advantages inherent in the optimistic system. I make the same choice today...
“”Optimistic can provide the properties users want at a low cost due to the very high off-chain cost for building ZK certification …
“”ZK certification is so expensive that it probably requires dedicated hardware and massive parallelism to fully participate in the ZK protocol, allowing you to centralize your network more effectively …
“”ZK’s alleged benefits must be available in optimistic systems or at the expense of critical security or usability features.
“”Optimistic rollups have a significant impact on operating costs, as code execution is much cheaper than calculating the complex cryptographic proofs associated with it.“”
Image credit
Featured images via AIXabay.com by “ELG21”
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