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#Waves is rebranding into AI chain and $waves ticker will be replaced with $AI ! Also Waves will merge with GPT!

What problems Units.network is trying to solve.

L1 chains' scalability cannot be sufficiently increased without compromising their decentralization. This is why the narrative of Layer 2 chains, semi-independent blockchains connected to established Layer 1s, has become so important. Layer 2 chains reduce the execution load on Layer 1 but tap into their consensus guarantees. However, Layer 2 chains also need some internal consensus; otherwise, they degenerate into centralized setups whose behavior can, to a certain extent, be controlled by Layer 1 but without any liveness guarantee, for example. It seems reasonable to extend the consensus established in Layer 1 to Layer 2, in such a way that they effectively become one ecosystem fully governed by one and the same consensus guarantees. In this case, interoperability between all Layer 2 chains is handled on the Layer 1 consensus layer as well. The Units network resolves the issue of interoperability for EVM chains and may potentially handle networks using other smart contracts virtual machines as well.

To a certain extent, the promise of the Units network is to resolve the scalability issue in general. With enough L0 level validators, the ecosystem will be able to support a virtually unlimited number of networks. The whole setup in this scenario will resemble the Ethereum sharding approach. On an application level, Units resolves the issue of launching your own block space, fully EVM compatible, in a simple and fast way. Also, all new chains will be embedded into the existing ecosystem, with trustless interchain bridges and bridging to the external ecosystem provided at launch. The ecosystem DAO may also provide economic rewards for new chains in exchange for their native tokens. In a nutshell, we're trying to simplify bootstrapping your own block space and making it a part of a larger ecosystem as much as possible.

What is Extended Consensus to be used in Units.network

Extended consensus allows the reuse of established economic incentives to provide shared security to networks beyond those where the incentives were already established. In Layer 2 networks, it enables a higher level of decentralization. For example, instead of having one centralized sequencer entity, we effectively create a decentralized sequencer setup, which resolves the problem of L2 network centralization.

Besides providing shared security, extended consensus enables trustless interoperability among all participating networks, with the initial network where the original consensus is established serving as Layer 0 for the entire ecosystem. It enables trustless data and liquidity transfer between all ecosystem networks with security guarantees on par with those of the Layer 0 network consensus.

Extended consensus should eventually provide quasi-linear scaling for the entire ecosystem. There will be a positive feedback loop between all the networks built on top of Layer 0 and the economic incentives in the base layer itself: new emerging incentives in all participating networks will effectively trickle down to the base layer, increasing the incentives in it, and attracting more validators. They, in turn, will be able to support more networks connected to Layer 0.

The Units Network narrative ties in smoothly with the nascent Ethereum restaking narrative, which appears to be expanding onto consensus in L2 chains built on top of Ethereum Layer 1. In the future, L2s are expected to become Ethereum shards, fully governed by the economic incentives and consensus of the base layer.

Units.network will also incorporate ZK machinery to facilitate interaction between different ecosystem subchains, similar to how Ethereum plans to implement inter-shard interaction.

Layer 020

Blockchain technology is increasingly becoming a standard tool across various industries. Despite numerous challenges within the cryptocurrency space, it offers substantial benefits to many business models. The need for individualized blockspace is evident, as not all projects can be accommodated on public chains. The solution involves creating dedicated blockchains for these projects, which are then connected to larger, public chains. The earlier approach of standalone, application-specific chains has been largely unsuccessful. Instead, these chains should be designed to integrate with public chains, leveraging their security, data, and liquidity.

The crucial challenge lies in achieving a level of decentralization for these chains that is comparable to that of primary, or Layer 1, chains. Relying solely on Zero-Knowledge (ZK) roll-ups with a single sequencer is insufficient due to its centralization. A more decentralized approach involves integrating all sub-chains into a unified ecosystem with shared economic incentives and consensus mechanisms. This fosters trustless communication and interoperability among all the chains, transforming the Layer 1 chain into a foundational, or Layer 0, chain that acts as a hub for consensus and communication.

Not all Layer 1 chains are suitable to evolve into Layer 0 chains. Ecosystems like Polkadot and Cosmos have been specifically developed with a Layer 0 framework in mind. The next step is to advance this concept further, incorporating recent advancements in blockchain technology to create a new generation of Layer 0 chains.

The process for launching new blockspaces should be streamlined and made accessible to everyone, with transparent and straightforward conditions. Connecting a new chain to the ecosystem could be completed in a matter of days, with an ecosystem-wide DAO overseeing network launches and facilitating data transfer and liquidity bridging. This DAO could also provide financial support to new chains from its treasury.

New chains will have the flexibility to select their underlying technology, including the choice of virtual machine and state proof mechanisms (such as zero-knowledge or optimistic roll-ups). While they may have their own incentive structures, the overarching incentives at Layer 0 will ensure consensus within these chains.

The ecosystem is designed to scale effectively and linearly, with new chain launches attracting more validators to the Layer 0 chain due to increased incentive opportunities. Validators have the freedom to choose the networks they wish to support, enhancing the system's scalability.

These innovations are being integrated into the forthcoming http://units.network platform. http://Units.network aims to redefine the Layer 0 ecosystem, moving beyond the traditional Layer 2 narrative to establish a new realm of seamlessly interconnected networks with #waves chain becoming Layer 0 of the whole ecosystem.

Derivatives are finally launching on one of the oldest DEXs in existence, http://wx.network! A totally new setup that no one has ever come up with - order book perpetual futures without a funding rate, fully non-custodial.

The launch will happen in stages, starting with the introduction of synthetic assets; BTC will be the first. It will be distributed through a community AIRDROP! You need to have some WXDAO tokens staked in the WX DAO to be eligible.