The Baking Sheet - Issue #176
Charting the Course of Tezos' Evolution: From the Oxford Vote to the Etherlink Launch
Rebuilding Oxford: Navigating the Future of Tezos After the Vote
In the ever-evolving world of Tezos, where each step forward is dictated by the consensus of the global community, the pulse of progress can sometimes beat unexpectedly. Nomadic Labs, along with the other global development teams within the Tezos ecosystem, recently faced such a moment. Their Oxford protocol proposal, a comprehensive suite of amendments designed to enhance the Tezos Mainnet, encountered a pivotal hurdle.
The Tezos community, exercising the decentralized governance model that underpins the Tezos ethos, did not reach the supermajority required to trigger the Oxford protocol's activation. This result is a testament to the community's rigorous standards for consensus, ensuring that only the most beneficial changes are embraced.
Gratitude and Reflection:
Acknowledging the outcome, Nomadic Labs extends its gratitude to the community for their active participation and discourse throughout the promotion period of the vote. Such engagement is the bedrock of the governance system that Tezos prides itself on—a system where the collective voice leads the way, and only a clear consensus can authorize protocol amendments.
The Oxford 2 Proposal:
Despite the setback, the contribution from the community during the governance cycle has been invaluable. Nomadic Labs, along with other contributors to the Oxford proposal, have taken the feedback to heart, recognizing it as a crucial step in refining their approach.
In the spirit of resilience and improvement, Nomadic Labs is already crafting a revised proposal, dubbed Oxford 2. This iteration will pivot away from enabling bakers to vote on activating Adaptive Issuance and instead will concentrate on staking enhancements for bakers.
The path ahead for Nomadic Labs is clear: to amplify their outreach and refine the feedback mechanisms within the Tezos community. This effort aims to ensure a comprehensive understanding and accessibility of resources pertaining to future proposals.
Nomadic Labs stands poised to continue its journey, undeterred by the stumbling block of the Oxford protocol. With an unwavering focus on fostering growth and innovation, the global development teams within the ecosystem look forward to working hand in hand with the Tezos community, writing the next chapter in the ever-evolving narrative of Tezos.
A Web3 Breeding Ground: Tezos Foundation Fuels HomeDAO's Expansion
Continuing our journey through the heart of England, where Oxford's academic spires stand tall, a new kind of innovation is blossoming. HomeDAO, originally from Oxford, is expanding its Web3 incubator model to London and Cambridge, with a push from the Tezos Foundation's participation in its inaugural funding round.
The Tezos Foundation's Endorsement:
The Tezos Foundation has endorsed HomeDAO's mission. By providing communal housing and workspaces, HomeDAO is more than a space—it's a breeding ground for ambition, collaboration, and the development of Web3's bright minds.
With a collective valuation of over $100 million for its supported firms, HomeDAO's narrative is one of ambition and communal support. This expansion, fueled by early-stage sponsors and heavyweight backers, marks a significant stride in the growth of the Web3 sector.
The HomeDAO Effect:
In its short existence, HomeDAO has nurtured seven Web3 startups now valued collectively at over $100 million. These startups, spanning various verticals, have won every Ethereum hackathon they've entered, underscoring the ingenuity and originality at play.
HomeDAO's role extends to being an investor, selectively backing founders based on merit, not residency. Its new investor partners gain access to a growing portfolio and the chance to mentor the next generation of Web3 creators.
HomeDAO exemplifies the exponential growth and opportunity that arises when talented, aligned individuals converge. With the Tezos Foundation's backing, HomeDAO is poised to lead the UK's charge into the Web3 future, embodying a united vision for innovation and dominance in the digital frontier.
Tezos @ South Beach
As the sun-kissed shores of Miami prepare to host the world's art enthusiasts during the famed Miami Art Week, a digital wave is set to hit the coast. Tezos, a name synonymous with pioneering blockchain technology, is marking its grand return to the event. This year's Tezos presence at Miami Art Week is brought to life by none other than Refraction and Trilitech.
A Melting Pot of Creativity: "Most diverse presentation to date" isn't just a tagline; it's a promise. Tezos is rolling out the red carpet for its creators, collectors, and partners. Whether you're a seasoned Tezos enthusiast or someone just dipping their toes into the blockchain waters, the event promises an immersive journey. Timed perfectly with Art Basel Miami, it's the rendezvous point for the global Tezos art community.
What's on the Agenda:
Date to Remember: Circle December 6th on your calendar as Tezos takes over the Nautilus Hotel.
Exhibitions & Drops: An exclusive showcase of digital art pieces, awaiting your appreciation.
Engaging Panels: Dive deep into discussions with leading voices from the Tezos community.
Showcases: Experience the best of Tezos, from innovations to success stories.
Celebrating Achievements: For the existing Tezos community, it's a time to champion the triumphs of creative innovation across platforms.
Introduction to Tezos: New to the Tezos universe? Get a crash-course on the global success and spirit of its creative community.
With anticipation building, spots are filling up fast. Don't miss the opportunity to be part of this monumental event. Reserve your place now at lu.ma/5p2s4xy0 and dive into the fusion of art and technology with Tezos at Miami Art Week.
This Week in the Tezos Ecosystem
Millon Auction House Adopts Blockchain for Art Authentication
Blockchain Meets Fine Art
As first reported by XTZ News, the esteemed French auction house Millon is charting a new course in art authentication. They've partnered with Arteïa to harness the power of the Tezos blockchain, creating a digital passport for artworks. This innovation was showcased at their recent Masters Decorative Arts of the 20th Century auction.
Arteïa's Connect: Securing Art's Legacy
Arteïa's Connect provides a tamper-proof digital passport for each artwork, linked via an encrypted NFC tag that self-destructs upon tampering. This ensures the artwork's provenance is secure and verifiable.
Enhanced Access and Security
The Arteïa Authentication app offers exclusive insights into the artwork and artist, while QR Codes allow instant access to an artwork's digital identity. Arteïa also introduces the ability for galleries to attach resale contracts to artworks, ensuring the integrity of future sales.
A Transparent Future for Art Collections
This collaboration between Millon and Arteïa, signifies a move towards a more transparent and secure art market, with blockchain technology at the forefront of protecting art collections.
This Week in Tezos Development
Etherlink: The EVM-Compatible Smart Rollup on Tezos
This week, Etherlink emerged with the launch of its website, built by Trilitech’s Sasha Aldrick. This EVM-compatible smart rollup is crafted to redefine transaction efficiency, offering a suite of features that prioritize fair ordering, low latency, and unwavering security.
The Innovation of Etherlink
Etherlink is not just another rollup—it's a smart rollup that's fully compatible with the Ethereum Virtual Machine (EVM), bringing a familiar environment for developers and their tooling. This integration means that existing Solidity and Vyper smart contracts can deploy seamlessly, and developer tools like Hardhat, Truffle, and Remix work right out of the box.
Etherlink's Core Features
At the heart of Etherlink's design is a distributed sequencer that ensures transactions are ordered fairly, protecting users from Miner Extractable Value (MEV) exploits. It aims for a goal confirmation time of approximately 500ms, a pace that sets a new standard for transaction speed. And in terms of security, Etherlink offers a fallback to the Tezos L1 after a 24-hour delay, should sequencing fail, giving users peace of mind.
Why Etherlink Stands Out
Etherlink leverages Tezos' robust protocol for data availability and its decentralized nature, ensuring that the only point of failure is the Tezos validators, not the sequencer. This unique approach, coupled with Tezos' 2-block finality guarantee, allows for rapid L1 finality times, making Etherlink a formidable presence in the smart rollup space.
The Advantages of Smart Rollups on Tezos
All smart rollups on Tezos, including Etherlink, are both optimistic and enshrined. They are trusted automatically unless proven otherwise and are built directly into Tezos' L1 protocol—unlike Ethereum's smart contract-based rollups. This enshrinement allows for more gas-efficient operations and standardized communication channels, facilitating cross-rollup interactions and access to external data sources.
Connecting to Etherlink
Users can easily connect their wallets to Etherlink, with MetaMask being the most straightforward method. By visiting the appropriate platform and selecting 'Connect Wallet,' users can join the Etherlink Ghostnet using specific network parameters. This connectivity signifies not just a technical merger but the bridging of communities, bringing together the best of both Ethereum and Tezos ecosystems.
TezTalks LIVE— Waiting to be Signed
Tune in for our next TezTalks featuring Waiting To Be Signed
Join us as we spotlight one of the premier podcasts around the fx(hash) ecosystem, Will and Trinity of 'Waiting To Be Signed'.