Looking for glitcheه҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿҈̿ in the simulation. Mod@ Ren / CatalogFi
The only theme at ETH Denver more fantastical than sporkwhales and bufficorns were Bitcoin L2s.
With the exception of Lighting, there is objectively no such thing as a Bitcoin L2. L2s are defined by the ability to unilaterally exit L1 assets back to the L1. In other words, L2s extend the capabilities of L1 full nodes. If a chain introduces any trust assumption beyond that of running an L1 full node, it is by definition not an extension of the L1, and thus, not an L2.
A requirement for unilateral exit is L1-grade availability of the data needed to construct the L2 state. Publishing that data to an alt DA layer requires trusting that layer to make the data available. This is why rollups that inherit double-spend resistance from the L1 via validity or fraud proofs but don't inherit DA are called "validiums" and "optimiums" and not "L2s". They don't extend the capabilities of L1 full nodes on their own.
This is also why L2s are not defined by reorg resistance. Reorg resistance on its own has nothing to do with extending the capabilities of L1 full nodes, because there may still be a bridge or DA layer that requires a trust assumption even if the [sidechain or sovereign rollup] can't reorg independently of the L1.
It goes without saying that L2s are especially not defined by some feel-good "alignment" involving honest majority bridges between chains that otherwise have nothing to do with each other.
Everything we do in this space is related to identifying and removing points of trust. When projects make up their own definitions out of self-interest, it causes confusion and undermines everyone's ability to identify those points of trust. Anyone who cares about those values should take extraordinary exception to that.
Today, we're thrilled to introduce the Ren Foundation, an independent organization dedicated to the research and development of trustless blockchain interoperability.
https://t.co/QWedqDrPHS
Oh my. Kevin Mitnick has died. "Kevin David Mitnick, 59, died peacefully on Sunday, July 16, 2023, after valiantly battling pancreatic cancer for more than a year." https://t.co/62sqY7vxrQ
🪂 Varen DAO is pleased to announce an AIRDROP campaign for using its GasHopper Cross Chain Service!
Use https://t.co/AubICcWpDP & receive $VRN 💥💥
🗓️Starts May 12th 8pm UTC
Here are the criteria to be eligible for the airdrop 🧵
After months of meticulous legal planning and deliberations, the Ren Foundation is finally live!
The Foundation is an independent, ownerless, and non-profit Cayman foundation - and is a huge step forward for the project as it begins to legally separate from @AlamedaResearch $REN
1/2 Hey @renprotocol frens,
To my understanding this means nothing more than what we knew would happen and just refers to Ren 1.0 assets being transfered from RenVM to FTX debtors.
This is the exact reason why were urging for months for users to burn their renAssets.
New RFC to build an operations subdao for #RENdao
This is a substantial RFC produced by @martign0 and is essential for future functioning of RENdao.
https://t.co/EIhUz7876K
#dao#DAOs
While @AlamedaResearch continues to deny @renprotocol much-needed legal correspondence and clarification:
Integrators:
Thank you for your endless patience, a lot is happening behind the scenes to make Ren 2.0 worth the wait.
To our users:
Ren products/services will be back ASAP
Linked is the first REN Ecosystem call.
This series gives an opportunity for projects to pitch their protocols or services to the REN community, with Q&A from the RENdao.
A chance to crosspollinate, this is a search for compatible projects with the $ren ecosystem.
#RENdao #DAO #DAOs
https://t.co/w3XYx79K9y