Are you wondering how Blockchain technology can improve supply management? Blockchain enhances transparency, boosts traceability, and increases efficiency in supply chains. This article explains how it works and presents successful case studies related to blockchain in supply management.This is the first post in our new series exploring how implementing blockchain can help achieve business goals across various industries. Stay tuned for more!<h2 data-pm-slice="1 3 []">Key Takeaways</h2><ul><li>Blockchain transforms the supply chain with its transparent, tamper-proof ledger. Think of it as a digital record book that no one can doodle on.</li><li>Smart contracts are the superheroes of the blockchain world, automating payments and inventory management like a pro to cut costs and boost efficiency.</li><li>While the future looks rosy with blockchain’s potential, challenges like scalability and regulatory uncertainty are the pesky weeds to tackle in this garden of innovation.</li></ul><h2 data-pm-slice="1 1 []">Understanding Blockchain Technology in Supply Management</h2>Blockchain is a decentralized digital ledger, or distributed ledger technology, for recording transactions securely and transparently. This decentralized nature prevents any single entity from having control, fostering a more collaborative and trustworthy environment among supply chain partners. Think of it as a digital record book that everyone in the supply chain can access but no one can alter.The magic of Blockchain lies in its ability to create supply chain transparency and trust. Imagine a world where every participant in the supply chain has access to the same real-time data. This offers several benefits:<ul><li>Enhances collaboration among participants</li><li>Ensures everyone is on the same page, reducing miscommunication and errors</li><li>Supports ethical sourcing by enabling tracking from the point of origin</li></ul>This is a significant step towards sustainable and responsible business practices.One of the most compelling advantages of Blockchain is its security. The technology uses cryptography to make entries unchangeable, ensuring the integrity of data. This tamper-proof and decentralized record of transactions makes it incredibly difficult for malicious actors to alter transaction histories. In a world where data breaches and fraud are rampant, Blockchain offers a robust solution that enhances accountability and reduces costs by eliminating intermediaries.With increased adoption, permissioned Blockchain creates a more interconnected and efficient ecosystem, translating to tangible benefits like reduced costs and greater visibility and accountability in private Blockchains.In summary, Blockchain technology continues to revolutionize supply chain management by offering a secure, transparent, and efficient way to manage transactions.<h2>Key Features of Blockchain for Supply Chains</h2>Blockchain technology boasts several key features that make it a perfect fit for supply chains. First and foremost is its tamper-proof ledger, which ensures data integrity. In a supply chain, where data accuracy is paramount, having a reliable and unchangeable record of transactions can be a game-changer.Transparency is another standout feature. Blockchain provides accurate, quickly updated, and secure transactions visible records for all parties involved in the supply chain to verify transactions. This enhance transparency minimizes issues such as late updates, miscommunication, and faulty authentication. Imagine being able to track a product’s journey from the supplier to the consumer with a single, publicly readable transaction ledger.Tracking products from their origin with Blockchain helps identify ethical sourcing issues. This is particularly important in industries like food and pharmaceuticals, where the authenticity and safety of products are critical. For example, Walmart has implemented Blockchain to track food products, ensuring safety and preventing contamination.Sustainability initiatives also get a boost from Blockchain. The technology can track carbon emissions and environmental impacts in real-time, supporting efforts to create more eco-friendly supply chains. Overall, Blockchain technology enhances the efficiency and transparency of supply chains while promoting ethical and sustainable practices.<h2>Enhancing Transparency and Traceability</h2>Transparency and traceability are the cornerstones of a well-functioning supply chain. Blockchain facilitates better accountability by providing an unalterable record of product history. This transparency can expose fraudulent activities that rely on manipulated data and inadequate technology. Blockchain enables verification of a product’s authenticity at any point in its journey.Real-time data sharing enabled by smart contracts enhances collaboration and transparency among supply chain partners. For instance, De Beers employs Blockchain to ensure the authenticity of diamonds by tracking them from mines to retailers. Similarly, Pfizer uses Blockchain to verify the authenticity of pharmaceuticals, helping to prevent counterfeit drugs and share data effectively.The benefits of Blockchain are not limited to high-value items like diamonds and pharmaceuticals. Walmart’s collaboration with IBM on Blockchain helps trace food origins, ensuring safety and transparency. Blockchain minimizes discrepancies and enhances trust by establishing a shared source of truth among supply chain participants.In summary, Blockchain significantly enhances transparency and traceability, making supply chains more reliable and trustworthy.<h2>Improving Efficiency with Smart Contracts</h2>Smart contracts are crucial in Blockchain software development. These self-executing contracts automate payment processes based on predefined conditions, significantly streamlining financial transactions. For companies like FedEx, Blockchain automates payment processes between suppliers and customers by triggering payments once delivery conditions are met.Amazon is exploring Blockchain technology to automate vendor payments, enhancing cash flow management. The automation via smart contracts offers several advantages:<ul><li>Minimizes the need for manual intervention</li><li>Speeds up transaction processes</li><li>Improves efficiency</li><li>Reduces operational costs by eliminating intermediaries</li></ul>Smart contracts also play a crucial role in inventory management. By automating document verification and reducing manual processes, blockchain can significantly streamline inventory management. Additionally, automating compliance checks minimizes errors and disputes in supply chain operations. In essence, smart contracts are a powerful tool for improving efficiency and reducing costs in supply chain management.<h2>Boosting Security and Reducing Fraud</h2>Security is a critical concern in supply chain management, and Blockchain technology addresses this issue head-on. The use of cryptographic techniques in Blockchain ensures data security and protects against unauthorized modifications, mitigating security risks. This makes Blockchain a robust solution against fraud, as its immutable ledger prevents alterations to transaction data.The integration of Blockchain technology can also prevent losses and theft through its secure, tamper-proof immutable record-keeping. Whether it’s luxury goods or everyday items, the enhanced security provided by Blockchain reduces the risks associated with unauthorized access and data stored tampering.Given the prevalence of data breaches, Bblockchain provides a secure and reliable solution for supply chain management.<h2>Real-Time Inventory Tracking and Management</h2>Real-time inventory tracking is a game-changer for supply chain management. Blockchain technology allows for real-time tracking of goods, enhancing visibility across the entire supply chain. This real-time visibility addresses one of the most significant challenges in supply chain management - knowing the exact status of inventory at any given moment.The integration of IoT devices with Blockchain enables real-time collected data monitoring and analysis in supply chain operations, including:<ul><li>Tracking the condition of shipments, such as temperature and humidity, to ensure products meet required specifications,</li><li>Improving traceability,</li><li>Enhancing decision-making and responsiveness to issues.</li></ul>Blockchain technology offers several advantages in supply chain management:<ul><li>Automates processes and reduces administrative overhead,</li><li>Enables quick resolution of discrepancies in inventory due to access to reliable, real-time data,</li><li>Enhances transparency and reduces fraud risks,</li><li>Significantly lowers operational costs.</li></ul>In summary, real-time inventory tracking and management enabled by Blockchain provide a comprehensive solution for improving supply chain efficiency.<h2>Case Studies: Successful Blockchain Implementations in Supply Management</h2>Real-world case studies provide valuable insights into the practical benefits of Blockchain technology. FedEx and UPS are exploring Blockchain technology for logistics, leveraging its capabilities for enhanced supply chain management. These companies have found that implementing Blockchain can lead to increased transparency, improved efficiency, and enhanced security.Tracifier is another example of successful Blockchain implementation, providing supply chain traceability solutions that offer visibility and accountability throughout the supply chain process. These case studies demonstrate that Blockchain technology continues to revolutionize supply chain management by offering practical solutions to real-world problems.<h2>Overcoming Challenges in Blockchain Adoption</h2>Despite its numerous benefits, adopting Blockchain technology in supply chains comes with its own set of challenges. Scalability issues, such as the inability to process large transaction volumes without delays, are a significant concern. Integrating Blockchain solutions with existing systems can also be challenging due to limited developer availability.Cost considerations are another hurdle. The expenses associated with the development and maintenance of a Blockchain network can be substantial, if not implemented properly. Regulatory uncertainty adds another layer of complexity, as the changing landscape of laws and regulations concerning Blockchain technology can create potential risks.However, these key challenges are not insurmountable. By strategically addressing scalability issues and aligning Blockchain solutions with existing systems, companies can overcome these hurdles. The key to successful Blockchain adoption lies in understanding and mitigating several challenges while leveraging the technology’s transformative potential. The best way to fully utilize Blockchain potential is to partner up with an experienced team of Blockchain developers.<h2>Future Trends: Blockchain and Emerging Technologies</h2>The future of supply chain management looks promising with the integration of Blockchain and emerging technologies. Combining IoT with Blockchain provides:<ul><li>Greater transparency and traceability,</li><li>Real-time tracking and monitoring of every item,</li><li>Ensured optimal conditions,</li><li>Minimized risks.</li></ul>The integration of AI with Blockchain takes this a step further by analyzing data for pattern recognition and optimizing processes. This combination improves automated workflow documentation and creates faster transactions. As Blockchain technology continues to evolve, its applications in supply chain management will become even more sophisticated, offering innovative solutions to complex challenges.Currently, Blockchain technology is transforming supply chain management by enhancing data integrity and security. The combination of Blockchain with other emerging technologies will further revolutionize the business world, making supply chains more efficient, transparent, and secure. The future is bright for supply chain management with blockchain in supply chain at the helm.<h2>Summary</h2>In summary, Blockchain technology offers a multitude of benefits for supply chain management. From enhancing transparency and traceability to improving efficiency with smart contracts, Blockchain addresses many of the challenges that supply chains face today. Real-time inventory tracking, boosted security, and reduced fraud are just a few of the advantages that make blockchain a game-changer.As more companies adopt Blockchain, the ecosystem becomes more interconnected and efficient. Despite the challenges associated with its adoption, the potential benefits far outweigh the risks. The integration of Blockchain with emerging technologies promises to further revolutionize supply chain management, creating a more transparent, secure, and efficient future.<h2>Frequently Asked Questions</h2><h3>What is Blockchain technology, and how does it apply to supply chain management?</h3>Blockchain technology is like a super-secure diary that everyone can see but no one can alter. In supply chain management, it means every step of your product's journey is transparent and tamper-proof, making it easier to track and trust the trail from creator to consumer.<h3>How does Blockchain improve transparency in supply chains?</h3>Blockchain offers real-time, immutable records that build trust and keep everyone on the same page. With it, you can trace products back to their roots. No more shady sourcing, just pure transparency!<h3>What are smart contracts, and how do they improve supply chain efficiency?</h3>Smart contracts are like your reliable friends who take care of tasks without needing reminders. They boost supply chain efficiency by automating payment processes and cutting out the middlemen, so you can focus on other crucial things.<h3>What future trends can we expect in Blockchain technology for supply chains?</h3>Get ready to ride the wave of innovation, as Blockchain teams up with IoT and AI to bring unparalleled transparency and efficiency to supply chains! Buckle up, because the future is looking bright and incredibly smart!

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Are you wondering how Blockchain technology can improve supply management? Blockchain enhances transparency, boosts traceability, and increases efficiency in supply chains. This article explains how it works and presents successful case studies related to blockchain in supply management.

How Can Blockchain Help Your Business? Case #1: Supply Management

Agnieszka Dobosz

Marek, who's no stranger to being a speaker at various blockchain events, has been chosen to present during the Zero Knowledge &amp; Cryptography track. His presentation showcases SnapVM, a system for verifiable on-chain LLM inference. He'll explain how it resolves real-world events using optimistic protocols, cryptographic guarantees, and infrastructure adaptable to other decentralized applications.&nbsp;<img src="https://strapi-uploads.rumblefish.dev/Linked_In_Post_Image_4_e146bd4184.png" alt="LinkedIn Post Image (4).png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_Linked_In_Post_Image_4_e146bd4184.png 245w,https://strapi-uploads.rumblefish.dev/small_Linked_In_Post_Image_4_e146bd4184.png 500w,https://strapi-uploads.rumblefish.dev/medium_Linked_In_Post_Image_4_e146bd4184.png 750w,https://strapi-uploads.rumblefish.dev/large_Linked_In_Post_Image_4_e146bd4184.png 1000w," sizes="100vw" width="1000px">His presentation is scheduled for Monday, June 30th, at 10:20 CEST in the Taylor Stage WS. If you're attending, be sure not to miss it!<h3>About EthCC</h3>EthCC is more than just a conference, it's a vibrant convergence of developers, researchers, founders, and enthusiasts shaping the future of Ethereum and decentralized technology. With a strong emphasis on knowledge sharing and open collaboration, EthCC has built a reputation as the go-to event for deep technical talks, innovative project showcases, and meaningful networking opportunities.This year’s venue in Cannes brings a fresh coastal energy to the community, offering not just inspiring sessions but also a perfect backdrop for spontaneous conversations and partnership building.Learn more about the event <a target="_blank" rel="noopener noreferrer" href="https://ethcc.io/">here</a>. See you in Cannes!

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Ethereum Community Conference is the largest annual event for the Ethereum crowd. This year, taking place in beautiful Cannes, the conference will host over 6400 attendees and almost 400 highly esteemed speakers. One of them is Rumble Fish' CEO/CTO, Marek Kowalski.&nbsp;

Rumble Fish is attending the EthCC[8] in Cannes

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AI chatbots are changing the way businesses interact with customers by providing instant, personalized support. This article will introduce you to the top AI chatbot solutions for 2025. You’ll learn how these tools can improve efficiency, reduce costs, and enhance customer satisfaction.

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Finding the best blockchain development company is crucial for your project’s success. We’ve compiled a list of factors to consider when looking for a trusted blockchain tech vendor. Let's dive right in!

Best Blockchain Development Company: Top Picks for 2025

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Wondering who the top zk proof development companies are in 2025? This article reveals the leading firms that excel in zero-knowledge proof technology in blockchain.

Top ZK Proof Development Companies to Watch in 2025

Need the best smart contract development companies for your blockchain projects? This article highlights the top-rated firms among the top smart contract development companies in 2025, offering you a reliable guide to finding experts who can deliver secure and efficient solutions.<h2>Key Takeaways</h2><ul><li>Smart contracts: The future of agreements — self-executing, tamper-proof, and as breezy as a spring day but not for the faint of heart to develop.</li><li>Picking the right smart contract company is like dating — it’s all about proven expertise and a strong track record to avoid a disaster in the long run.</li><li>Security first, custom solutions second: Whether integrating smart contracts for DeFi or other purposes, ensure your chosen partner values audits and robust service with a tailor-made flair.</li></ul><h2>Understanding Smart Contracts</h2><img src="https://images.surferseo.art/29b744cf-972a-4ec2-8db9-60501a3f973d.png" alt="An overview of smart contracts and their significance in blockchain technology.">Imagine a realm where contractual agreements are self-fulfilling, executing the stipulated conditions autonomously without any need for human oversight. This is the domain of smart contracts – these automated contracts are coded and embedded within the blockchain, providing transparency, robust security measures, and heightened efficiency.The advantages that come with smart contracts include:<ul><li>Streamlining operations through automation,</li><li>Diminishing reliance on intermediaries,</li><li>Greatly bolstered security due to minimized risks associated with manual mishaps or intentional manipulations.</li></ul>Crafting smart contracts is a sophisticated endeavor. Mastery over blockchain technology is paramount, and it often calls for individualized solutions designed to meet particular commercial requirements.It’s crucial to acknowledge the significance and capabilities of smart contracts when selecting someone to collaborate with in development. An adept partner can materialize your concept into existence by creating custom-tailored smart contracts that integrate seamlessly with your operational needs.<h2>Leading Smart Contract Development Companies in 2025</h2>Selecting an expert smart contract development company is vital to the triumph of your blockchain endeavor. The foremost companies in this domain are pioneers, assisting businesses to achieve their objectives by providing cutting-edge smart contract solutions. For such a critical choice, it’s necessary that the company demonstrates established expertise and has a robust history of success.The following represents the leading smart contract development companies as of 2025.<h3>Rumble Fish</h3>Specializing in the creation of secure and scalable smart contracts, Rumble Fish provides a wide range of services designed to cater to different industry requirements, guaranteeing project success. They employ blockchain developers that mastered the art of EVM chains smart contract development. The Rumble Fish team is proficient in technologies like Rust, Solidity, and Vyper. Their satisfied customers are the best confirmation of their agility and high professionalism. See the scope of their blockchain development services <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/services/blockchain-software-development/">here</a>.<h3>Synodus</h3>Synodus stands out as a top-tier blockchain enterprise within the APAC area, renowned for its expertise in smart contracts, decentralized applications (dApps), and DeFi solutions. The company extends its custom smart contract services to numerous sectors, such as finance, healthcare, and supply chain management, while delivering secure DeFi applications and adept dApp creation.<h3>Pixelplex</h3>Pixelplex specializes in crafting cutting-edge smart contracts that are customized to suit a variety of infrastructures. They prioritize research and development heavily, guaranteeing that their solutions are flawlessly incorporated within various commercial frameworks.Having completed noteworthy projects, Pixelplex has established itself as a distinguished entity in the field of smart contract development.<h3>Solulab</h3>Solulab provides tailored smart contract solutions designed to cater to the specific requirements of different businesses. They employ programming languages such as Solidity and Rust to create strong and adaptable smart contracts that serve a range of corporate purposes.<h3>Antier Solutions</h3>Antier Solutions stands out in the field of smart contract development, serving a variety of industries with excellence. By providing customized solutions for sectors such as real estate and logistics, Antier Solutions significantly bolsters transparency and automation. These innovations facilitate more efficient, reliable transactions by leveraging smart contracts within supply chain management processes.<h3>EvaCodes</h3>EvaCodes excels in creating secure smart contracts that are scalable and customized to meet the unique requirements of businesses, focusing on sectors such as real estate, gaming, and healthcare. To guarantee the dependability of their smart contracts, EvaCodes implements a stringent auditing procedure.<h3>Peiko</h3>Peiko is recognized for its expertise in cutting-edge smart contract development, providing various engagement models tailored to meet the diverse requirements of different projects. The company’s proficiency is highlighted through significant initiatives like IGT’s stock and digital asset exchange platform, demonstrating their capacity to execute intricate blockchain solutions effectively.<h3>Webisoft</h3>Webisoft excels in crafting bespoke smart contracts on blockchain platforms like Ethereum and Polkadot, along with specializing in the creation of NFT marketplaces. They are proficient in devising blockchain-enabled smart contracts.<h3>NetSet Software</h3>Canadian NetSet Software excels in providing smart contract solutions, drawing upon their substantial expertise in smart contract development to meet diverse business requirements. Their portfolio includes impressive initiatives such as the dApp for Betfolio, which demonstrates their capacity for innovation within the realm of smart contracts.<h3>TokenMinds</h3>Located in Singapore, TokenMinds specializes in smart contract development and adopts a cooperative method that keeps clients engaged throughout the process. They provide custom development solutions tailored to meet the specific business requirements of their clientele.<h2>Key Considerations for Choosing a Smart Contract Development Company</h2>Selecting a suitable smart contract development company necessitates confidence in their reliability and established proficiency. It is essential to assess the firm’s record of security audits and adherence to sector-specific norms for satisfactory safety measures.It is vital that tailored solutions are provided that cater specifically to the distinctive necessities and stipulations of your project. We will explore these critical factors further.<img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/6_c1c38e1920.jpg" alt="6.jpg" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_6_c1c38e1920.jpg 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_6_c1c38e1920.jpg 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_6_c1c38e1920.jpg 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_6_c1c38e1920.jpg 1000w," sizes="100vw" width="1000px"><h3>Expertise and Experience</h3>Expertise in widely-used programming languages is crucial for successful smart contract development, particularly on the Ethereum platform. The ability to craft scalable, secure, and efficient smart contracts plays a pivotal role in the success of projects.Understanding the nuances of different industries enables developers to customize solutions that meet sector-specific needs, such as those in real estate, finance, and healthcare. A history of successful projects builds confidence and establishes dependability.<h3>Security and Auditing</h3>Security is paramount in smart contract development to prevent financial losses or data breaches. For businesses handling significant value, security audits are essential to ensure contract safety. Adhering to best coding practices helps prevent vulnerabilities.Companies like Tech Alchemy, Labrys, Webisoft, and NetSet Software, a software development company, specialize in building secure smart contracts and adhering to industry standards.<h3>Custom Solutions and Tailored Services</h3>Custom software development guarantees that smart contracts are specifically designed to cater to individual project requirements and tackle distinct business obstacles. Firms such as:<ul><li>Rumble Fish, which delivers bespoke solutions for diverse blockchain uses,</li><li>MetaLamp, focused on the creation of DeFi platforms,</li><li>Leewayhertz, recognized for its work in NFT tokenization and secure implementation via tailored software development.</li></ul>These entities offer a variety of services aimed at assisting enterprises in understanding and utilizing the intricacies of blockchain technology.Hyperlink Infosystem, Rumble Fish, and NetSet Software also supply custom-developed blockchain solutions that ensure their smart contracts are not only safe but also fine-tuned for performance and adhere to industry regulations.<img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/7_637b28b8a9.jpg" alt="7.jpg" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_7_637b28b8a9.jpg 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_7_637b28b8a9.jpg 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_7_637b28b8a9.jpg 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_7_637b28b8a9.jpg 1000w," sizes="100vw" width="1000px"><h2>Evaluating Reputation and Reviews</h2>Prior to engaging with a smart contract development company, it is important to scrutinize their past work and client testimonials. Reviews offer valuable perspectives on the caliber of service and dependability offered by the company. For reliable reviews, platforms such as Clutch are suitable options alongside direct case studies from previous clients.It’s essential that a distinguished smart contract development firm provides extensive security evaluations and resilience checks for solid end products. Methods like thorough manual code examination, automated scans for vulnerabilities, and rigorous penetration tests play pivotal roles in reducing potential threats while upholding safety standards.The significance of community opinions cannot be overstated when assessing the standing of a smart contract developer. Interaction with former customers, along with an assessment of their feedback, can yield crucial information regarding the reputation of the firm as well as its proficiency in delivering high-quality development services.<h2>Summary</h2>Selecting the right smart contract development company is crucial for the success of your blockchain projects. Understanding the power of smart contracts, evaluating the expertise and security practices of potential partners, and considering custom solutions tailored to your needs are key factors in making an informed decision.As the world of blockchain technology continues to evolve, the importance of secure, efficient, and innovative smart contract solutions cannot be overstated. By partnering with the best smart contract development companies, you can ensure the success of your blockchain endeavors and be at the forefront of this revolutionary technology.<h2>Frequently Asked Questions</h2><h3>What are smart contracts?</h3>Smart contracts are basically the digital butlers of the blockchain world - executing agreements automatically without any need for a middleman.Just sit back and let the code do the talking!<h3>Why is security important in smart contract development?</h3>Security is crucial in smart contract development to avoid financial losses and data breaches, so don’t skip those audits - they’re your contract’s best friend!<h3>How do I choose the right smart contract development company?</h3>To snag the perfect smart contract development company, check their expertise, security chops, custom solutions, and client reviews - it’s like dating but with fewer red flags!Trust me, a solid portfolio will save you from a blockchain breakup!<h3>What industries can benefit from smart contracts?</h3>Smart contracts are like magic wands for industries such as finance, healthcare, real estate, and supply chain, waving away inefficiencies and bringing in a sprinkle of security.So, who wouldn’t want a little touch of that?<h3>What are some top smart contract development companies in 2025?</h3>In 2025, the smart contract scene is buzzing with talent from Synodus to Rumble Fish Software Development - it’s a digital party you won’t want to miss!So grab your contracts, and let these top companies handle the smartness!

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Need the best smart contract development companies for your blockchain projects? This article highlights the top-rated firms among the top smart contract development companies in 2025, offering you a reliable guide to finding experts who can deliver secure and efficient solutions.

The Best Top Smart Contract Development Companies in 2025

Ever wondered how you can prove something without revealing the actual information? Zero-Knowledge Proofs (ZKPs) make this possible. In this article, we explore zero-knowledge proof use cases in blockchain, finance, healthcare, online voting, and supply chains. See how ZKPs are redefining privacy and security in these critical fields.<h2>Key Takeaways</h2><ul><li>Zero-Knowledge Proofs (ZKPs) allow you to prove you know something without spilling the beans - like showing you can unlock a safe without revealing the code.</li><li>ZKPs are the cloak of invisibility for blockchain privacy, enabling secure transactions and compliance without exposing sensitive details - just ask Zcash and Nightfall. Or talk with Rumble Fish's team to help you with this issue.</li><li>From voting to healthcare, ZKPs are revolutionizing privacy across sectors by letting users authenticate or verify without laying their secrets bare.</li></ul><h2 data-pm-slice="1 1 []">Understanding Zero-Knowledge Proofs</h2><img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/Linked_In_Post_Image_60_a43923f4d9.png" alt="LinkedIn Post Image (60).png" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_Linked_In_Post_Image_60_a43923f4d9.png 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_Linked_In_Post_Image_60_a43923f4d9.png 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_Linked_In_Post_Image_60_a43923f4d9.png 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_Linked_In_Post_Image_60_a43923f4d9.png 1000w," sizes="100vw" width="1000px">Zero Knowledge Proofs are a standout feature in the realm of cryptography, functioning as an innovative way for one entity – dubbed the Prover – to affirm their knowledge to a second party known as the Verifier. All this happens without disclosing any underlying data. It’s comparable to verifying your ability to unlock a safe but not divulging its combination. What’s intriguing is that through zero-knowledge cryptographic methods, both privacy and security are greatly reinforced during this verification process. Delving into how these proofs operate will amplify your appreciation for such pioneering technology and the protocols it employs.Intriguingly, ZKPs captivate with three foundational attributes: completeness, soundness, and zero knowledge itself. With completeness at play, you have an assurance that a truthful statement by an honest prover can be convincingly validated by the verifier, soundness serves as protection against deceitful provers passing off falsehoods as truth, while Zero-Knowledge upholds that no surplus insights beyond simple validation of truthfulness shall be disclosed, only confirmation of accuracy ensues from correct statements proven true under scrutiny. This combination fortifies ZKPs’ prowess in providing top-tier confidentiality alongside robust safeguarding.To break down how Zero-Knowledge Proofs function tactically. The information-possessing party crafts a declaration they present without exposing sensitive details contained within – similar to sending over proof through mathematical formulations instead of direct raw data exposure. This savvy strategy ensures crucial info remains shielded while still validating possession or awareness without compromise - a feat showcasing intelligence inherent within zero-knowledge protocol deployment strategies.<h2 data-pm-slice="1 1 []">Enhancing Blockchain Privacy with Zero-Knowledge Proofs</h2>Blockchain technology is renowned for its robust transparency and security features, yet it also poses distinct privacy issues. Zero-Knowledge Proofs step in to bolster privacy on blockchain platforms by substantiating claims while keeping sensitive information under wraps. Imagine a scenario where the validity of your financial activities is confirmed without any disclosure of the specifics – this exemplifies the capabilities brought forth by zero-knowledge proof innovation.Consider Zcash as an instance, which integrates zk-SNARK - a variant of Zero-Knowledge Proof - to facilitate anonymous transaction verification among users. In a similar vein, The Nightfall Project employs zk-rollups to preserve secrecy during transaction processes within Ethereum’s blockchain framework. These practical applications reflect how ZKP technologies operate effectively in real-life scenarios involving blockchains, assuring both user confidentiality and safe data-sharing mechanisms.<img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/Linked_In_Post_Image_3_b4f5b387f1.jpg" alt="LinkedIn Post Image (3).jpg" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_Linked_In_Post_Image_3_b4f5b387f1.jpg 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_Linked_In_Post_Image_3_b4f5b387f1.jpg 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_Linked_In_Post_Image_3_b4f5b387f1.jpg 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_Linked_In_Post_Image_3_b4f5b387f1.jpg 1000w," sizes="100vw" width="1000px">ZKPs prove essential for adhering to regulatory requirements as they enable institutions to demonstrate their understanding of client identities (KYC) alongside compliance with anti-money laundering standards (AML), all while safeguarding private information from exposure. This harmony between preserving privacy rights and meeting legal obligations renders ZKPs invaluable within the realm of blockchain systems - whether that concerns validating transactions or upholding data discretion - and illustrates how ZKP technology continues shaping more secure environments conducive to protecting individual data across various blockchain networks.<h2 data-pm-slice="1 1 []">Financial Transactions and Confidentiality</h2>In the world of digital finance, keeping financial transactions private is a critical concern. Zero-knowledge proofs enable this privacy by allowing for the verification of transaction authenticity without exposing any specific transaction details. Imagine being able to demonstrate that you have enough money to complete a purchase without having to disclose your total account balance – this is how ZKPs protect delicate financial data.Take ING as an example. It allows its clients to verify that their income falls within a specified range, yet it does not require them to divulge precise numbers. This advanced method guarantees personal information remains secret while still confirming essential details. By diminishing the expenses associated with safeguarding financial transactions, zero-knowledge proofs render confidential dealings more accessible and cost-effective in settings where regulation is mandatory.Platforms dedicated to privacy such as Tornado Cash are scrutinized legally because there’s worry about their role in potentially abetting money laundering and other unlawful acts. The U.S. Treasury has gone so far as imposing sanctions on Tornado Cash due to allegations regarding its involvement with state-backed cybercrime schemes. Such developments underscore significant challenges related to ensuring cryptocurrency transaction anonymity while adhering strictly to regulatory standards.<h2>Secure Online Voting Systems</h2>Imagine an environment in which you can partake in online voting with unwavering trust regarding the security and legitimacy of that activity. Zero-knowledge proofs enable a decentralized approach to casting votes, empowering every participant to authenticate vote validity while maintaining confidentiality. Such advancements place paramount importance on secure data sharing and protected communication within the realm of electronic voting.Within these ZKP-enhanced electoral frameworks, individuals have the capability to confirm accurate acknowledgment of their ballot without disclosing its particulars. This is actualized via cryptographic methods designed to thwart any interference with votes whilst upholding election integrity. For instance, systems like I-Voting conceal voter identity prior to tallying, reinforcing anonymity protection for each individual’s decision.By safeguarding personal privacy, these mechanisms diminish potential coercion or intimidation threats, granting electors the freedom to confidently divulge their selections without concern over negative consequences. Zero-knowledge proofs permit third-party auditors independent examination rights concerning electoral procedures and outcomes – bolstering overall transparency as well as reliability within such processes. As illustrated by this advanced technology application example, zero-knowledge proofs hold transformative power over our methodology for managing and securing democratic elections.<h2 data-pm-slice="1 1 []">Protecting Healthcare Data Privacy</h2>The protection of healthcare information is paramount to thwart identity theft and prevent data breaches. Zero-knowledge proofs (ZKPs) significantly enhance security within the healthcare sector by allowing authorized entities to share data securely, without exposing any underlying details. This method ensures that while vital information can be accessed when necessary, patient confidentiality remains intact.For example, MedRec - MIT’s blockchain initiative for medical data sharing - utilizes zero-knowledge proofs to authenticate patient records in a manner that doesn’t compromise sensitive details. By doing so, it guarantees privacy and secures communication channels among healthcare providers who need access only to particular aspects of treatment histories rather than entire medical files. This balances privacy with informational accuracy.ZKP technology aids in preserving anonymity during collaborative efforts in medical research by facilitating secure data sharing - a process that inherently decreases the likelihood of unauthorized access or breaches occurring as researchers validate shared information. As the emphasis on safeguarding individual privacy grows ever more pressing, ZKP technology emerges as an instrumental tool for shielding delicate health-related information whilst ensuring effective and safe exchanges of such data amongst concerned parties.<h2>Improving Authentication Mechanisms</h2>Our digital personas are safeguarded by authentication protocols, and Zero-Knowledge Proofs (ZKPs) are revolutionizing the way we establish our identities. By utilizing ZKPs, individuals can confirm their identity without actually disclosing their passwords, which greatly minimizes the likelihood of them being stolen. Imagine accessing your account while keeping your password entirely hidden – that is what zero-knowledge access control offers.<img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/Linked_In_Post_Image_4_9bad2bc646.jpg" alt="LinkedIn Post Image (4).jpg" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_Linked_In_Post_Image_4_9bad2bc646.jpg 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_Linked_In_Post_Image_4_9bad2bc646.jpg 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_Linked_In_Post_Image_4_9bad2bc646.jpg 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_Linked_In_Post_Image_4_9bad2bc646.jpg 1000w," sizes="100vw" width="1000px">Within biometric security systems, ZKPs enable users to prove who they are without having to store their original biometric information, thereby lessening the possibility of it being stolen. In other words, even if a hacker were able to infiltrate the system for verification purposes, they’d be unable to extract any sensitive biometric data. Zero-knowledge proofs offer a secure and confidential means for confirming one’s identity that allows people to utilize services while maintaining anonymity.Zero-knowledge proofs give users greater authority over their private information and mitigate concerns linked to breaches of data security and thefts of identity. This advanced cryptographic technique upholds both secure communication channels as well as proper access controls whilst preserving user confidentiality.<h2>Strengthening Supply Chain Traceability</h2>Ensuring the authenticity and preservation of product quality across a variety of sectors is fundamental, which makes supply chain traceability indispensable. Zero-knowledge proofs play an essential role in authenticating and maintaining data integrity within these supply chains by allowing validation without exposing confidential information. Consequently, consumers are able to confirm product origins while being shielded from full exposure to the intricacies of the entire supply process.In practice, for example, producers can demonstrate that components conform to specific benchmarks without having to disclose exhaustive details about their supply chain partners. This proves particularly valuable in sectors such as pharmaceuticals and food production where it’s crucial to validate ingredient legitimacy. In this context, ZKPs offer a technique for preserving private information while simultaneously verifying accuracy within the supply chain records.The adoption of zero-knowledge proof technology allows businesses not only to fortify data integrity but also to bolster secure exchanges along their distribution networks. Such advancements cultivate trust among customers and regulatory agencies by assuring that products adhere to high-quality standards while safeguarding sensitive industry or operational intelligence.<h2>Powers of Tau Ceremony and Its Significance</h2>The Powers of Tau Ceremony plays a crucial role in bolstering the security framework for Zero Knowledge Proof protocols. By engaging multiple parties in creating a shared reference string, this ceremony minimizes the chances of any individual participant jeopardizing the integrity of the setup. Its significance lies in its assurance that at least one honest actor is involved, which reinforces overall protocol security.Recent advancements such as optimistic pipelining have revolutionized this procedure by permitting simultaneous contributions from participants, thus expediting the entire process. This has redefined the Powers of Tau Ceremony from an arduous task to a collective and interactive event, boosting engagement and accessibility among users.With Zero-Knowledge Proofs becoming increasingly popular, ceremonies like the Powers of Tau are indispensable for maintaining cryptographic standards’ credibility. They lay down the critical groundwork necessary for developing highly secure and reliable ZKP applications for future technologies.<h2>Challenges Faced by Tornado Cash</h2>Tornado Cash, a platform designed to increase privacy through the use of Zero Knowledge Proofs, has encountered substantial legal and security hurdles. As a cryptocurrency mixer, it enables users to obscure their transactions by depositing funds from one account and withdrawing them from another address. This function has sparked concerns regarding its alignment with anti-money laundering laws due to possible connections with unlawful activities.In an effort to preserve transactional anonymity, Tornado Cash has come under intense examination by government entities because of suspected links with cybercriminal operations backed by nation-states. These issues underscore the fine line that must be navigated between ensuring user privacy in digital currency dealings and complying with regulatory standards.The situation surrounding Tornado Cash serves as a warning for other platforms prioritizing privacy on the need for stringent security protocols and compliance adherence.<h2 data-pm-slice="1 1 []">Comparing The Confidential Transactions and Nightfall Project</h2>In the realm of blockchain transaction privacy, both Consensys’ Confidential Transactions project and EY’s Nightfall Project have marked significant advancements. The Confidential Transactions initiative concentrated on conducting transactions with concealed balances to keep financial dealings confidential. Nevertheless, its widespread adoption was hindered by challenges in user-friendliness.Conversely, the Nightfall Project matured into a zk-rollup protocol which boosted both scalability and confidentiality for transactions on Ethereum. By emulating the UTXO Model within an Ethereum smart contract framework, Nightfall exemplified a viable method for maintaining privacy without sacrificing transactional efficiency.While tackling similar concerns over privacy, these initiatives leverage divergent technical methods that underline ZKP technology’s adaptability and promise. A comparative analysis between them underscores how Zero Knowledge Proofs can be creatively applied to fortify security and discretion in financial exchanges. Where Confidential Transactions prioritized encryption techniques, Nightfall capitalized on zk-rollups to concurrently amplify scale and maintain secrecy - reflecting the dynamic growth in applications of Zero Knowledge concepts.<h2>Summary</h2>Zero Knowledge Proofs have emerged as a powerful cryptographic tool for enhancing data privacy across various domains. From blockchain technology to financial transactions, healthcare data, and online voting systems, ZKPs offer a robust solution for verifying information without revealing sensitive details. Their applications extend to authentication mechanisms and supply chain traceability, showcasing their versatility and potential.As we navigate an increasingly digital world, the importance of data privacy cannot be overstated. Zero Knowledge Proofs provide a path forward, balancing the need for security and transparency with the imperative of privacy. Embracing ZKP technology can lead to more secure and trustworthy systems, fostering greater confidence in our digital interactions.<h2>Frequently Asked Questions</h2><h3>What are Zero-Knowledge Proofs (ZKPs)?</h3>Zero-Knowledge Proofs are like showing off your winning lottery ticket without actually sharing the numbers—proof without the spoilers! They let you confirm you know a secret without spilling the beans.<h3>How do ZKPs enhance blockchain privacy?</h3>ZKPs are like ninjas in the blockchain world - they stealthily confirm transactions while keeping all the juicy details under wraps.So, you can enjoy your digital secrets without anyone peeking!<h3>Can ZKPs be used in financial transactions?</h3>Absolutely! ZKPs can keep your financial secrets safer than a squirrel with its acorns, proving transactions are valid without spilling any juicy details.<h3>How do ZKPs improve online voting systems?</h3>ZKPs are like a magic cloak for your votes - keeping them secure and anonymous while ensuring they’re legit!With this trick up their sleeves, online voting becomes a fortress against tampering.

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Ever wondered how you can prove something without revealing the actual information? Zero Knowledge Proofs (ZKPs) make this possible. In this article, we explore zero-knowledge proof use cases in blockchain, finance, healthcare, online voting, and supply chains. See how ZKPs are redefining privacy and security in these critical fields.

Top Zero-Knowledge Proof Use Cases for Stronger Data Privacy

Discover the top web3 companies in Poland. This article highlights innovative firms, their blockchain solutions, and the impact on different industries in Poland’s emerging web3 landscape.<h2>Key Takeaways</h2><ul><li>Poland is jazzing up the Web3 scene with a mix of startups and established players crafting innovative blockchain solutions that are eyeing global attention.</li><li>From smart contracts to e-commerce tweaks, Polish companies are using Web3 tech to streamline operations and enhance security, proving that the future is not just decentralized but also pretty darn efficient.</li><li>With a supportive regulatory framework and a tech-savvy workforce, Poland is poised to grow its Web3 ecosystem at a whopping 28.54% annually, making it a hotspot for investors and innovators alike.</li></ul><h2 data-pm-slice="1 1 []">Leading Web3 Innovators in Poland</h2>Poland is emerging as a hub for innovative Web3 companies, showcasing a diverse range of successful projects that leverage blockchain technology across various sectors. These companies are gaining international attention for their innovative solutions and successful implementations.From startups to established enterprises, the Polish Web3 landscape is as dynamic as it is promising.<h3 data-pm-slice="1 1 []">Blockchain Development Companies</h3>Several blockchain development firms in Poland specialize in providing innovative solutions in decentralized finance and smart contracts. They are at the forefront of creating unique blockchain-based solutions that cater to a wide array of industries.These companies are helping to shape the future of decentralized finance, offering more secure and efficient ways to manage transactions and digital assets.<h3>Early-Stage Companies to Watch</h3>Early-stage Web3 companies in Poland are fostering innovation across diverse sectors, integrating blockchain solutions that enhance efficiency and transparency. With increasing interest from venture capitalists and a supportive ecosystem, these startups are poised to make a significant impact on the industry.They are uniquely positioned to influence the future of Web3 with their fresh ideas and groundbreaking technologies.<h3>Established Web3 Enterprises</h3>Well-established Web3 companies in Poland have demonstrated a strong track record of delivering blockchain solutions across multiple sectors. These enterprises are driving innovation and showcasing the potential of Web3 technologies.With significant financial interest from investors, these companies are at the forefront of creating unique solutions tailored to various industries.<h2>Pioneering Solutions for Web3 Businesses</h2>Poland is emerging as a significant player in the Web3 space, with predictions indicating that decentralized technologies will enhance transparency and security in various sectors. Web3 companies in Poland are leveraging innovative blockchain solutions to address specific industry challenges and enhance operational efficiency.These solutions promise to transform operations and create a new revenue stream for business models across various sectors.<h3>Next Generation Financial Services</h3>Several blockchain development firms in Poland specialize in creating decentralized solutions for financial services and digital asset management. These platforms offer innovative financial products that challenge traditional banking systems, providing users with more control over their assets and reducing transaction costs.Innovations in blockchain technology are driving the development of next-generation financial services in Poland.<h3>E-commerce and Digital Assets</h3>Web3 companies in Poland are leveraging blockchain to enhance e-commerce security, ensuring transparent transactions and protecting consumer data. These startups are utilizing blockchain to improve transaction security and enhance the traceability of digital assets in e-commerce.With projections indicating substantial market growth, blockchain is set to revolutionize the e-commerce industry in Poland.<h3>Smart Contracts and Automation</h3>Smart contracts are increasingly used by Polish businesses to automate transactions, significantly decreasing operational risks. These contracts help to streamline operations, minimize risks associated with manual processes, and enhance transparency in various sectors.Smart contracts enable companies to automate workflows, minimize human error, and boost operational speed.<h2>Case Studies: Success Stories from Poland</h2>Real-world examples of successful Web3 implementations in Poland demonstrate the transformative power of blockchain technology. These case studies highlight how Polish Web3 companies are overcoming challenges and achieving significant milestones in finance, e-commerce, and business automation.<h3>Example 1: Revolutionizing Finance</h3>Alior Bank became the first in Poland to implement a public blockchain solution for document authentication. This innovation addresses the durable medium issue in the financial sector, enhancing security and transparency.Such advancements signal a transformative shift towards more resilient and transparent financial practices in Poland.<h3>Example 2: Leveling Up the Web3 Development Processes</h3>All of the progress we've seen over the last few years wouldn't be possible without one crucial thing - the development teams. Poland is known all over the world for its highly skilled, very professional, and hard-working software engineers. It's a known market for hiring teams with the best ratio of quality to pricing. One of the Polish software houses that stand out on the Web3 market is Rumble Fish. Known for their uniquely skilled blockchain developers who can solve any pain point on the Web3 product development roadmap, Rumble Fish is an established company with a wide portfolio of satisfied customers. They specialize in EVM blockchains and have a unique ability and skillset to work on the intersection of blockchain and AI.<h3>Example 3: Enhancing E-commerce</h3>A Polish e-commerce platform is implementing a blockchain network to provide secure and transparent supply chain tracking, enhancing consumer trust in product authenticity. Another startup successfully utilized blockchain to create a unique rewards system, driving customer engagement and retention.Blockchain technology is revolutionizing the e-commerce industry by providing enhanced security and transparency.<h3>Example 4: Automating Business Processes</h3>A notable example from Poland showcases a company that implemented smart contracts to streamline supplier transactions, resulting in significant time savings. Another company employed smart contracts to automate client onboarding processes, cutting down the time taken for paperwork and approvals.These implementations led to notable improvements in operational efficiency and a reduction in time-consuming tasks.<h2 data-pm-slice="1 1 []">Building a Thriving Web3 Ecosystem in Poland</h2>Poland is home to a vibrant Web3 landscape, featuring companies that leverage blockchain technology across various industries. The growth rate of the Web3 sector is projected at 28.54% annually, highlighting its expanding influence in Poland.This thriving ecosystem is driven by supportive regulations, access to talent, and a collaborative community.<h3>Supportive Regulatory Environment</h3>Poland is progressively enhancing its legal framework to better accommodate blockchain technologies and digital assets. The Polish government is actively working to create a regulatory environment that minimizes barriers for blockchain startups and fosters innovation.The upcoming ‘Polish Crypto Assets Market Act’ aims to streamline regulations for Virtual Asset Service Providers (VASP) ahead of the EU’s MiCA legislation.<h3>Access to Talent and Education</h3>Poland has a vibrant tech community with increasing educational resources focused on blockchain and Web3 development. The country boasts a growing number of educational programs focused on blockchain technology, helping to cultivate a skilled workforce for the Web3 sector.Poland ranks as one of the top countries in Europe for engineering and IT graduates, providing a strong talent pool for Web3 enterprises.<h3>Collaboration and Community</h3>The Web3 landscape in Poland promotes a collaborative environment, encouraging partners among startups, investors, and tech companies. Active networking events and meetups among Web3 startups are fostering collaboration and innovation within the sector.Engaging with local tech communities and international partnerships enhances the global reach of Polish Web3 startups.<h2>Challenges Faced by Web3 Companies in Poland</h2>Polish Web3 startups encounter numerous difficulties in securing funding as they progress beyond the initial stages. Addressing these challenges is essential for the sustainability and future growth of Web3 companies in Poland.The primary challenges include navigating regulatory compliance, managing security risks, and scaling business operations.<h3>Navigating Regulatory Compliance</h3>Regulatory compliance is a fundamental aspect for Web3 businesses in Poland, significantly influencing their operational capacities. The Polish Financial Supervision Authority (KNF) oversees Web3 companies, ensuring market stability and adherence to local financial regulations.These businesses must navigate complex regulations that often lack clarity, requiring them to stay continuously informed and agile in their compliance strategies.<h3>Managing Security Risks</h3>Blockchain technology introduces unique security challenges, including vulnerabilities in smart contracts that can be exploited for financial gain. Web3 companies must address these vulnerabilities, ensuring that their blockchain systems are robust and secure.Effective security measures are crucial for protecting digital assets and maintaining user trust.<h3>Scaling Business Operations</h3>Web3 firms in Poland face challenges in scaling operations due to limited access to venture capital and resources. Scaling operations is also challenged by limited access to skilled talent and technological infrastructure that supports rapid business growth.Gaining customers’ trust is crucial for expanding the user base and scaling operations successfully.<h2>The Future of Web3 in Poland</h2>The future of Web3 in Poland looks incredibly promising. Experts predict that the Polish Web3 ecosystem will see increased collaboration among startups, investors, and educational institutions, leading to a more vibrant marketplace.The trend of integrating Web3 technologies across various sectors is expected to accelerate, contributing to economic growth and innovation in Poland.<h3>Emerging Technologies</h3>Emerging technologies are set to revolutionize the Web3 landscape in Poland, shaping how businesses and individuals interact with digital ecosystems. AI integration in Web3 projects increased from 27% to 34% between 2023 and 2024, indicating a trend towards automation and efficiency.Companies are focusing on decentralized user profiles and verifiable credentials, enhancing privacy and security in Web3 applications.<h3>Investment Opportunities</h3>Poland’s growing economy and proactive regulatory changes are making it a key player in the Web3 landscape across Europe. Investment in Polish Web3 startups is projected to rise significantly, as venture capitalists seek out innovative solutions in the blockchain sector.Funds like Genblock Capital, which focuses on decentralized finance, are tuning into the evolving Web3 ecosystem.<h3>Global Impact</h3>Polish Web3 companies are well-positioned to contribute to global blockchain initiatives due to their strategic location within the European Union. The convergence of emerging technologies such as AI and blockchain is expected to provide new opportunities for Web3 developers, enhancing Poland’s global influence in the tech industry.This integration will help drive innovation and set new standards in the digital world.<h2>Summary</h2>Poland is rapidly emerging as a hub for Web3 innovation, driven by a combination of cutting-edge blockchain development companies, early-stage startups, and established enterprises. These companies are leveraging blockchain technology to create innovative solutions in finance, e-commerce, and business automation, transforming how industries operate.As we look to the future, the continued collaboration among startups, investors, and educational institutions will further solidify Poland’s position in the global Web3 landscape. With a supportive regulatory environment, access to top talent, and a thriving community, the potential for growth and innovation in Poland’s Web3 sector is boundless. The journey ahead is filled with opportunities, and we can’t wait to see what the future holds!<h2>Frequently Asked Questions</h2><h3>Why is Poland becoming a hub for Web3 innovation?</h3>Poland is the cool kid on the Web3 block, thanks to its friendly regulations, a talent pool that could fill a stadium, and a tech scene that’s buzzing with creativity. Who wouldn’t want to hang out where innovation thrives?<h3>What are some examples of successful Web3 implementations in Poland?</h3>Poland is rocking the Web3 scene with Alior Bank's nifty document authentication on the blockchain, an e-commerce platform streamlining supply chains, and smart contracts jazzing up supplier transactions. Blockchain: making life easier, one transaction at a time!<h3>What challenges do Web3 companies in Poland face?</h3>Web3 companies in Poland are wrestling with regulatory red tape, security headaches, and a stingy venture capital scene. It’s like trying to dance the tango in a crowded elevator—awkward and full of pitfalls!<h3>How are emerging technologies influencing the Web3 landscape in Poland?</h3>Emerging technologies like AI and blockchain are shaking up Poland's Web3 scene, making digital living a lot slicker, safer, and more private. It’s like upgrading from a clunky flip phone to the latest smartphone—everything just works better!<h3>What investment opportunities exist in Poland's Web3 sector?</h3>Poland's Web3 sector is buzzing with investment opportunities, especially in decentralized finance and cutting-edge blockchain innovations, attracting keen venture capitalists like Genblock Capital. It's a tech-savvy treasure trove waiting for adventurers like you!

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Discover the top web3 companies in Poland. This article highlights innovative firms, their blockchain solutions, and the impact on different industries in Poland’s emerging web3 landscape.

Top Web3 Companies in Poland to Watch in 2025

Searching for the top 10 blockchain development companies in Poland? This article highlights the leading firms in 2025 known for their top-notch blockchain solutions, expertise, and client satisfaction.<h2 data-pm-slice="1 3 []">Key Takeaways</h2><ul><li>Poland’s blockchain scene is booming with top-tier blockchain development experts with tons of experience and deep industry knowledge.</li><li>Smart contracts and advanced protocols are revolutionizing business efficiency, ensuring secure and automated processes that save time and money. Blockchain is a groundbreaking technology that can be utilized in various different ways - it's not limited to crypto only.</li><li>Integrating blockchain and AI is the secret sauce for competitive advantage, leading to innovative solutions that boost security and functionality in digital transformations. Only a few companies in the Polish market can do it right - Rumble Fish being at the forefront of this tech synergy.</li></ul><h2 data-pm-slice="1 1 []">Top 10 Blockchain Development Companies in Poland</h2>Poland hosts some of the most innovative and highly rated blockchain development companies in the industry. Here are the top 10 firms making a significant impact.<img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/ed40ab3c_0718_40a2_9d58_c485ae10f670_1bae099278.png" alt="ed40ab3c-0718-40a2-9d58-c485ae10f670.png" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_ed40ab3c_0718_40a2_9d58_c485ae10f670_1bae099278.png 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_ed40ab3c_0718_40a2_9d58_c485ae10f670_1bae099278.png 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_ed40ab3c_0718_40a2_9d58_c485ae10f670_1bae099278.png 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_ed40ab3c_0718_40a2_9d58_c485ae10f670_1bae099278.png 1000w," sizes="100vw" width="1000px"><h3 data-pm-slice="1 1 []">Rumble Fish</h3>Location: KrakówRumble Fish is a blockchain and AI development house specializing in crafting bespoke, custom solutions for clients of all sizes and industries. Established in 2017 in Kraków, they have been focused on blockchain technology since the early days. Their main field of expertise is EVM blockchains and the integration of AI with blockchain. One of the strengths of Rumble Fish's expert devs is the mentorship of their CTO, Marek Kowalski, who is a known industry expert in all things blockchain. See one of his latest speaking engagements <a target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/watch?v=1YjPgVtZXR8">here.</a>With a customer portfolio full of cutting-edge startups as well as established corporations, Rumble Fish proves their ability to work on projects of any scale. Their deep knowledge of AWS and other cloud providers makes them a perfect partner for projects that require efficient scaling.<h3 data-pm-slice="1 1 []">4soft</h3>Location: Wrocław4soft is a blockchain development company that offers custom apps and integrations. Their preferred cooperation model is team augmentation or product development. They also designed and developed their own product, 4energy - a platform for comprehensive energy management.<h3>Nextrope</h3>Location: GdyniaNextrope specializes in blockchain development for various industries, like real estate or logistics. They are also big on NFTs, tokenization, and Metaverse development. Founded in 2016, Nextrope became one of the most recognizable blockchain houses in Poland.<h3>Ulam Labs</h3>Location: WrocławUlam Labs proudly takes its name from a Polish mathematician, Stanisław Ulam, known for paving the way for using computers in calculations. The company focuses on blockchain development, with emphasis on Ethereum, Solana, and Algorand.<h3>Blocklabs</h3>Location: SzczecinBlocklabs is a dedicated blockchain development company specializing in DeFi, smart contracts, and NFT marketplaces. Their solutions cater to businesses looking for innovative and secure blockchain applications.<h3>imapp</h3>Location: Warsawimapp is a blockchain development company that provides innovative solutions in decentralized finance (DeFi), smart contracts, and enterprise blockchain applications. They focus on delivering scalable and secure blockchain infrastructure for businesses.<h3>Concise Software</h3>Location: RzeszówConcise Software is a leading blockchain development firm that provides high-quality blockchain solutions, including smart contracts, DeFi applications, and enterprise blockchain integration. They focus on creating secure and scalable blockchain systems for a wide range of industries.<h3>Innowise</h3>Location: WarsawInnowise is a globally recognized software development company specializing in blockchain solutions. They provide end-to-end blockchain services, including smart contract development, decentralized applications, and enterprise blockchain integrations.<h3>Akena</h3>Location: KrakówAkena is an emerging blockchain development company specializing in enterprise blockchain solutions, smart contract development, and decentralized applications. Their innovative approach and focus on security make them a valuable partner for businesses adopting blockchain technology.<h3>Pragmatic Coders</h3>Location: KrakówPragmatic Coders is a Polish software development company specializing in creating bespoke digital solutions for fintech, healthcare, and blockchain. The company focuses on developing scalable, secure, and compliant digital products for various industries.<h2 data-pm-slice="1 1 []">Expert Blockchain Solutions for Business Growth</h2>Blockchain technology goes beyond cryptocurrencies, empowering businesses with innovative solutions that drive growth and efficiency. Blockchain development companies leverage decentralized platforms to boost efficiency, allowing stakeholders to monitor transactions on a public ledger for accountability and transparency. Client testimonials frequently highlight the effectiveness of blockchain solutions in improving user experiences and streamlining operations, cementing the reputation of these top firms.Integrating blockchain technology helps businesses achieve digital transformation goals and remain competitive in an evolving market. This seamless integration sets these companies apart and drives business success.<h2>Custom Software Development and Blockchain Integration</h2>Custom software development is crucial for effective blockchain integration. The consulting phase defines the project scope and identifies suitable solutions, making premier software development involvement essential. Effective deployment strategies minimize downtime and ensure smooth transitions from development to operation, utilizing advanced research solutions. Ongoing support and maintenance are essential for sustained blockchain application performance post-launch.<h2>Premier Software Development Houses in Poland</h2>Poland hosts numerous premier software development houses specializing in custom software development and web development, making it a hub for innovative digital solutions. These companies are known for their expertise and commitment to delivering top-notch software solutions as a custom software development company.Poland is home to some of the most advanced software development companies that have set high standards in blockchain technology. These firms leverage cutting-edge solutions to deliver secure, scalable, and efficient blockchain applications for various industries, including fintech, healthcare, and logistics. Their contributions are helping Poland establish itself as a global leader in blockchain development.<h2>Smart Contract Development and Implementation</h2>Smart contracts revolutionize business operations by automating processes and enhancing transaction security and efficiency. Blockchain development companies lead in ensuring these digital agreements are secure and scalable.Auditing services are essential in smart contract development to identify and rectify potential vulnerabilities before deployment. Firms use advanced cryptographic techniques to ensure transaction integrity and confidentiality on blockchain platforms.Leveraging blockchain technology, businesses can achieve decentralized governance and streamline operations, reducing costs through automation. These innovative solutions make smart contract development essential in the blockchain landscape.<h2 data-pm-slice="1 1 []">Full Cycle Development Company Services</h2><img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/9788e5ec_8f60_4f33_927b_4f86b8484d46_0f0c4a15cb.png" alt="9788e5ec-8f60-4f33-927b-4f86b8484d46.png" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_9788e5ec_8f60_4f33_927b_4f86b8484d46_0f0c4a15cb.png 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_9788e5ec_8f60_4f33_927b_4f86b8484d46_0f0c4a15cb.png 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_9788e5ec_8f60_4f33_927b_4f86b8484d46_0f0c4a15cb.png 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_9788e5ec_8f60_4f33_927b_4f86b8484d46_0f0c4a15cb.png 1000w," sizes="100vw" width="1000px">Full cycle development covers the entire software development life cycle, from initial consultation to ongoing support. &nbsp;This comprehensive approach ensures that every development aspect is handled with expertise and precision.Business analysis aligns the software engineering with client objectives before development begins. The design focuses on creating user-friendly interfaces, adhering to the best UX/UI practices tailored to users’ needs. Quality assurance is integrated throughout the full cycle, ensuring testing occurs at every stage to catch defects early and deliver a high-quality final product.Post-deployment support is crucial in the full-cycle development process, providing maintenance and updates based on user feedback and performance metrics. Companies offering full-cycle services provide flexibility, allowing clients to modify requirements throughout the project. This approach ensures incremental development with continuous feedback and adjustments at every stage.<h2>Web and Mobile App Development with Blockchain</h2>Blockchain technology enhances security and reliability in web and mobile app development. Advanced cryptographic techniques make it nearly impossible for hackers to breach, providing a secure environment for web applications. Blockchain-based websites achieve higher reliability as the distributed network reduces server failure risks.Development teams are focusing on multi-chain solutions that enable interoperability between different blockchain networks, fostering collaboration and shared knowledge among developers. The open-source nature of blockchain further enhances this collaborative environment, promoting collective decision-making and innovation. By integrating blockchain technology into web and mobile applications, these companies provide innovative solutions that enhance user engagement and operational efficiency.<h2>Advanced Technologies and Blockchain Solutions</h2>Integrating advanced technologies like AI with blockchain offers innovative digital solutions, enhancing the functionality of crypto wallets and other blockchain applications. This AI-blockchain combination is crucial for companies to maintain a competitive edge in today’s tech-driven market. Rumble Fish is one of the most advanced players when it comes to integrating blockchain and AI.Blockchain technology enhances data security by using cryptographic algorithms to protect information from unauthorized access, making it essential for digital transformation. Companies excelling in digital transformation and data security leverage these technologies to offer cutting-edge solutions that empower clients and enhance business operations.Adopting advanced technologies like AI and secure blockchain frameworks is crucial for businesses looking to stay competitive. These technologies offer numerous benefits, including improved data security, enhanced functionality, and innovative solutions that drive business growth.<h2>Proven Track Record and Client Testimonials</h2>Client testimonials are vital for evaluating the reliability and success of blockchain development companies. One notable testimonial highlighted how a blockchain company improved the client’s operational efficiency, significantly decreasing processing time. Such testimonials offer valuable insights into the practical benefits of blockchain solutions.A significant case study detailed how a company successfully implemented a blockchain solution, resulting in a 30% increase in supply chain transparency for its client. These success stories reinforce the trust and reputation of blockchain development companies among potential clients.Overall, testimonials and case studies showcase the proven track record of these companies, making them reliable partners for businesses looking to integrate blockchain technology.<h2>Empowering Businesses with Decentralized Platforms</h2><img src="https://strapi-uploads-staging-aldnr.rumblefish.dev/63dbbbc8_7234_4713_8031_372ba98e69ed_1b2ab0c5c0.png" alt="63dbbbc8-7234-4713-8031-372ba98e69ed.png" srcset="https://strapi-uploads-staging-aldnr.rumblefish.dev/thumbnail_63dbbbc8_7234_4713_8031_372ba98e69ed_1b2ab0c5c0.png 245w,https://strapi-uploads-staging-aldnr.rumblefish.dev/small_63dbbbc8_7234_4713_8031_372ba98e69ed_1b2ab0c5c0.png 500w,https://strapi-uploads-staging-aldnr.rumblefish.dev/medium_63dbbbc8_7234_4713_8031_372ba98e69ed_1b2ab0c5c0.png 750w,https://strapi-uploads-staging-aldnr.rumblefish.dev/large_63dbbbc8_7234_4713_8031_372ba98e69ed_1b2ab0c5c0.png 1000w," sizes="100vw" width="1000px">Decentralized platforms transform business operations by distributing decision-making authority among users, enhancing transparency and trust. Blockchain supports the development of decentralized applications (dApps), providing innovative solutions and enhancing user engagement.Blockchain companies adopt tokenization strategies to represent assets digitally, enhancing liquidity and accessibility in various markets. Smart contracts benefit sectors like finance, supply chain, and real estate by offering faster and more secure transaction processes. The decentralized nature of blockchain promotes transparency, allowing users to see how their data is used and shared.Clients frequently report increased operational transparency and trust after integrating blockchain solutions into their processes. By empowering businesses with decentralized platforms, blockchain development companies drive innovation and growth in a challenging market.<h2 data-pm-slice="1 1 []">Summary</h2>In summary, Poland’s blockchain development companies are at the forefront of innovation, offering a wide range of solutions that drive business growth and efficiency. From custom software development to smart contract implementation, these companies are setting new standards in the industry.The integration of advanced technologies like AI and blockchain is empowering businesses to stay competitive and achieve their digital transformation goals. Client testimonials and case studies highlight the proven track record of these companies, reinforcing their reputation as reliable partners. As we look to the future, the potential for blockchain technology is limitless. By embracing decentralized platforms and innovative solutions, businesses can navigate the challenging market landscape and thrive in the digital era.<h2>Frequently Asked Questions</h2><h3>What makes Poland a hotspot for blockchain development?</h3>Poland is a blockchain hotspot because it’s got top-notch development companies that are not just innovative but also deliver high customer satisfaction. Basically, if you want solid solutions wrapped up in happy smiles, Poland's the place to be!<h3>How do blockchain solutions drive business growth?</h3>Blockchain solutions supercharge business growth by boosting operational efficiency, security, and transparency—making your digital transformation feel like a walk in the park!<h3>What are the benefits of custom software development in blockchain?</h3>Custom software development in blockchain gives your business a turbo boost with tailored security, scalability, and performance tailored just for you. It’s like having a bespoke suit for your tech needs—sharp, efficient, and ready to impress!<h3>Why are smart contracts important for businesses?</h3>Smart contracts are the secret sauce for businesses, automating processes while boosting security and efficiency. If you want to streamline transactions and keep everything above board, they’re a must-have!<h3>How do decentralized platforms empower businesses?</h3>Decentralized platforms sprinkle a bit of magic on businesses by sharing decision-making power, boosting transparency, and stirring up innovation with dApps. Who wouldn't want to be part of that?

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Searching for the top 10 blockchain development companies in Poland? This article highlights the leading firms in 2025 known for their top-notch blockchain solutions, expertise, and client satisfaction.

Top 10 Blockchain Development Companies in Poland - 2025 Ranking

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Combining AI and blockchain is revolutionizing data security, operational efficiency, and transparency across various industries. This article explores how AI and blockchain combined can enhance data integrity, streamline operations, and lead to innovative solutions in sectors like finance, supply chain, and healthcare.

Top Benefits of AI and Blockchain Combined

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The Rust programming language offers the perfect blend of safety, speed, and concurrency. Developed by Mozilla, Rust ensures memory safety without compromising performance, making it ideal for everything from web development to embedded systems. This article will help you get started with Rust, dive into its unique ownership concept, and leverage key resources to master the language.

Mastering the Basics of the Rust Programming Language

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Rust is a fast, memory-efficient, and statically typed programming language. Its many benefits are why it has been voted the most admired programming language of 2023 and 2024, according to annual&nbsp;Stack Overflow surveys&nbsp;of over 90,000 developers. Rust is also a great language for smart contract writing and many software engineers opt for using that language in their Web3 projects. While Solidity has long been the go-to language for developing contracts on Ethereum, Rust is rapidly gaining traction as a powerful alternative. Today, we’ll dive into its benefits and risks, and explore use cases of Rust in smart contract development.

Smart contracts development in Rust - benefits, risks, use cases

Oskar Karcz

In today’s article, we continue the journey through public and private keys, blockchain algorithms, and Account Abstraction. Let’s focus on the complicated matter of ECDSA signatures and how to enable multisig transactions on Ethereum, shall we?Have you ever seen Vitalik sad? <a target="_blank" rel="noopener noreferrer" href="https://twitter.com/VitalikButerin/status/1527359435072425988"><img src="https://strapi-uploads.rumblefish.dev/vitalik_twitter_1_096fab7da1.PNG" alt="vitalik_twitter_1.PNG" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_vitalik_twitter_1_096fab7da1.PNG 245w,https://strapi-uploads.rumblefish.dev/small_vitalik_twitter_1_096fab7da1.PNG 500w," sizes="100vw" width="500px"></a>Or have you ever seen Vitalik angry? <a target="_blank" rel="noopener noreferrer" href="https://twitter.com/VitalikButerin/status/1527359917161517071"><img src="https://strapi-uploads.rumblefish.dev/vitalik_twitter_2_65d3b10d72.PNG" alt="vitalik_twitter_2.PNG" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_vitalik_twitter_2_65d3b10d72.PNG 245w,https://strapi-uploads.rumblefish.dev/small_vitalik_twitter_2_65d3b10d72.PNG 500w," sizes="100vw" width="500px"></a>It looks like Ethereum’s signature algorithm is quite exciting and not that straightforward even for its co-founder. In this blog post, we’re going to discuss why ECDSA is (in some ways) not that efficient, why Bitcoin already adopted another algorithm called Schnorr, and last but not least, I’ll show you what solutions are already available and developed by amazing Rumble Fish devs!<h3>Let me <s>do</s> sign it for you!</h3>For those of you who are not familiar with blockchain’s private-public key pair concept, don’t worry! Relax, grab a big cup of coffee, and let me guide you through this! Ready? Let’s go! Every blockchain’s security, including Bitcoin and Ethereum, relies on cryptography and some brilliant underlying concepts. One of them is private-public key pairs which are used mainly for:<ul style="list-style-type:circle;"><li>authentication - to prove that the user knows the private key, which confirms their identity,</li><li>encryption - to decrypt and read the message previously encoded, in other words - to read a secret message that only a private key owner can see.&nbsp;</li></ul>Private-public key pairs are asymmetric which means that with a given private key (think about it as simply as a number) it’s possible to derive the public key (the other number). However, it’s not feasible to reverse the process and get a private key from the public key. If you wonder why, take a look at our previous <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-3/">blog post</a>, where I explained the magic behind elliptic curves and generating Ethereum addresses from private keys. To move forward I assume that ECC (elliptic curve cryptography) and ECDSA (Elliptic Curve Digital Signature Algorithm) acronyms already sound familiar to you.&nbsp;<h3>pov: ECDSA is a bad signature algorithm</h3>As we’ve shown above, Vitalik himself believes that ECDSA is a bad algorithm. Let’s take a look at the reasoning behind this statement. In Ethereum, ECDSA is used as the algorithm for creating and verifying digital signatures. This is to ensure transaction authentication, so we know the transaction was approved by the sender. ECDSA uses the SHA-256 hash function and the secp256k1 elliptic curve and does it for good reasons. Firstly, it is constructed in a special non-random way, which results in efficient and fast computations. It provides strong security while requiring relatively little computational power. Secondly, the secp256k1 curve reduces the possibility of potential backdoor weakness and is also used by Bitcoin, so was already adopted at the moment of Ethereum creation. Now, let’s see what the basic process of signing and verifying a message looks like:Signing the message:<ol><li>Generate a private-public key pair. Keep the private key hidden and share only the public key.</li><li>Calculate the message hash with a cryptographic hash function, e.g. SHA-256.</li><li>Sign the message with the private key. By signing I mean performing a series of mathematical operations on the message hash value and the private key, which results in a unique signature.</li><li>Transmit the message and its signature.</li></ol>Verifying the signature:<ol><li>Calculate the message hash the same way it was hashed within the signing process.</li><li>Recover the signer address from the signature and public key (for the sake of simplicity I’m not gonna explain all the math behind it - I encourage you to do your own research).</li><li>Compare the recovered address with the provided one - if they match, the signature is valid!</li></ol><img src="https://strapi-uploads.rumblefish.dev/account_abstraction_sender_receiver_eafb765592.jpg" alt="account-abstraction-sender-receiver.jpg" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_account_abstraction_sender_receiver_eafb765592.jpg 245w,https://strapi-uploads.rumblefish.dev/small_account_abstraction_sender_receiver_eafb765592.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_account_abstraction_sender_receiver_eafb765592.jpg 750w,https://strapi-uploads.rumblefish.dev/large_account_abstraction_sender_receiver_eafb765592.jpg 1000w," sizes="100vw" width="1000px">So far it’s all looking good, right? So what’s the problem with ECDSA? The chaos appears as soon as someone wants to create a multi-signature. Ekhm, excuse me, multi-what…? - you ask? Let me explain.<h3>Multi-signatures - single problem</h3>The Multi-signature Scheme is a concept that avoids a single point of failure and requires multiple signers to approve a transaction. This is great for splitting the responsibility of ownership of an address (and its funds) and can be shared between multiple people with different private keys. What's more, it’s possible to implement a k-of-n policy, so e.g. 2-of-3 means that only 2 signers (out of 3) need to approve the transaction for it to be valid (as shown below). This is commonly known as the threshold scheme.<img src="https://strapi-uploads.rumblefish.dev/multisignature_contract_051dfb4a1c.jpg" alt="multisignature-contract.jpg" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_multisignature_contract_051dfb4a1c.jpg 245w,https://strapi-uploads.rumblefish.dev/small_multisignature_contract_051dfb4a1c.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_multisignature_contract_051dfb4a1c.jpg 750w,https://strapi-uploads.rumblefish.dev/large_multisignature_contract_051dfb4a1c.jpg 1000w," sizes="100vw" width="1000px">There are already plenty of multi-signature wallets, like <a target="_blank" rel="noopener noreferrer" href="https://github.com/ConsenSysMesh/MultiSigWallet">The Consensys multisig wallet, Safe</a>, or <a target="_blank" rel="noopener noreferrer" href="https://www.argent.xyz/vault/">Argent</a>. Most often that kind of wallets use a smart contract that stores multiple signers' addresses and verifies the signatures one by one (naive multi-signatures). And that’s the core of the problem. Why? First of all, storing multiple signers’ addresses costs money (welcome to the blockchain!), and the same goes for sending and verifying multiple signatures. Every signature needs to be verified with a specified signer separately and computational power is the crucial aspect of the transaction cost. What’s more (and in some cases the worst) signers’ public addresses are exposed and can be easily used to check who (out of the signers group) approved the transaction and who didn’t. OK, so what about aggregating multiple signatures into a single one? Well, this might be a better approach, but aggregated signatures are currently slower than e.g. ECDSA, so there must be a tradeoff between speed and size (which on the blockchain means cost).<img src="https://strapi-uploads.rumblefish.dev/native_vs_aggregated_signature_4569907414.jpg" alt="native-vs-aggregated-signature.jpg" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_native_vs_aggregated_signature_4569907414.jpg 245w,https://strapi-uploads.rumblefish.dev/small_native_vs_aggregated_signature_4569907414.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_native_vs_aggregated_signature_4569907414.jpg 750w,https://strapi-uploads.rumblefish.dev/large_native_vs_aggregated_signature_4569907414.jpg 1000w," sizes="100vw" width="1000px"><h3>Bitcoin’s Taproot and Schnorr’s Signatures</h3>Let’s jump out for a second to the Bitcoin Blockchain and look closer at one of the rare protocol updates, called Taproot. This BIP (Bitcoin Improvement Proposal) introduced several enhancements, including the Schnorr Signatures. Why do I mention this? We must realize that Bitcoin’s upgrades are extremely limited to keep the protocol stable and secure, so enhancements are deeply discussed, battle-tested, and significantly improve the network’s efficiency. So what is that Schnorr Signature?It is a type of digital signature scheme that allows for signing transactions in a very efficient way without compromising on security even for multi-signatures. The algorithm itself isn’t new though, because originally it was described by Claus Schnorr in 1991. It wasn’t widely used before because it was protected by patent till 2008 (the same year Bitcoin was launched). The primary advantage of Schnorr signatures lies in key aggregation. In a typical digital signature scenario, a single public key, message, and signature are involved, confirming that the owner of the public key signed the provided message. However, when multiple parties aim to sign the same message, like when spending from a multisig address, each must include their public key and signature. Consequently, if three parties wish to sign a message, the verification process entails three public keys and three signatures, leading to inefficiencies in computation and storage. Each node must conduct signature verification, a resource-intensive task, three times, and store three sets of signatures and public keys.<img src="https://strapi-uploads.rumblefish.dev/ecdsa_vs_schnorr_signatures_9800efde10.jpg" alt="ecdsa-vs-schnorr-signatures.jpg" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_ecdsa_vs_schnorr_signatures_9800efde10.jpg 245w,https://strapi-uploads.rumblefish.dev/small_ecdsa_vs_schnorr_signatures_9800efde10.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_ecdsa_vs_schnorr_signatures_9800efde10.jpg 750w,https://strapi-uploads.rumblefish.dev/large_ecdsa_vs_schnorr_signatures_9800efde10.jpg 1000w," sizes="100vw" width="1000px">Key aggregation resolves this inefficiency by obviating the necessity for multiple public keys and signatures. Schnorr public keys and signatures can be aggregated so that, if three parties intend to sign a transaction, they can combine their public keys into a single one, using their respective private keys to sign the same message. Subsequently, they can combine their signatures into a single signature valid for the aggregate public key. A verifier needs only to authenticate a single signature and public key to ascertain that all three parties signed the message.<h3>Signatures with benefits&nbsp;</h3>Key aggregation presents an opportunity to decrease transaction costs and enhance the scalability of the base layer, as signatures from multi-signature configurations occupy the same space in a block as those from single-party transactions. This aspect of Schnorr can be leveraged to decrease the size of multisig payments and related transactions (e.g. those within the Lightning Network channels).Moreover, Schnorr signatures possess a crucial attribute of non-malleability. In the realm of digital signatures, malleability refers to the capacity of an attacker to alter a confirmed signature in a manner that retains its validity while authenticating a distinct message from the original signature. Such manipulation could lead to significant issues in cryptocurrency applications, potentially allowing a malicious actor to increase the transferred funds' amount or change the recipient.Last but not least, Schnorr offers substantial privacy advantages. By enabling the obfuscation of a multi-signature scheme, rendering it virtually indistinguishable from a traditional single public key, Schnorr significantly complicates the task of differentiating between multisig and single-signature transactions through on-chain observation. Additionally, in setups involving n-of-m multisig, Schnorr makes it more challenging for observers to ascertain which participants did or did not sign a transaction.<h3>Just do it!</h3>Okay, that’s enough of the theory, let’s see what the practice looks like! As was written, the Bitcoin protocol already supports Schnorr Signatures and can be used alongside ECDSA. Unfortunately, the Ethereum blockchain does not yet, so this looks like a perfect opportunity for Rumble Fish developers to do, once again, some innovative stuff!No, wait a sec. Let’s complicate things a bit so that it’s not too easy. Where would be the perfect place to use multi-signatures? Where can we find the need for a multi-owner wallet? Any ideas? Exactly, Account Abstraction! Take a look at our previous <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/what-is-account-abstraction-and-why-is-it-important-eip-4337-explained/">blog post about ERC-4337</a> to see what it is and let’s move to the coding part!Let’s see what has to be done to achieve Multi-Schnorr-Signatures.&nbsp;<ol><li>Deploy MultiSigSmartAccountFactory and create Account Abstraction This is needed to interact with the blockchain and use the Account Abstraction concept. In our case though instead of a single Account Owner, there are multiple Schnorr-Signers Owners.&nbsp;</li><li>Create Schnorr Signers and MultiSig Account Signer To utilize multi-signature features and be ERC-4337-compliant, the Schnorr Signer needs to be created out of an individual's private key.</li><li>Construct User Operation CallData and build User Operation As ERC-4337 specified, instead of standard transaction the User Operation needs to be created.</li><li>Initialize Multi-Sig Schnorr User Operation Crucial element of multi-signature mechanism. To be sure that the same transaction is approved by every needed signer, the desired Multi-Sig Schnorr User Operation is created. It contains such information as transaction data and each signer’s public addresses, one-time nonces, and signatures.</li><li>Sign the transaction by each defined signer Transactions can be signed by each signer in any order. There’s also no time limit or need for all of the signers to be online at once.&nbsp;</li><li>Send the User Operation If a transaction is signed by each needed signer, it can be sent through the MultiSigSmartAccount contract. As needed it can be paid by ERC-4337 Paymaster. User Operation data can be signed and used only once by design!</li><li>Appreciate the beauty and simplicity of the Account Abstraction Schnorr Signatures solution. As simple as that!</li></ol>But if you are curious about how it works under the hood or want to utilize this in your project, feel free to jump into Rumble Fish repositories:<ul style="list-style-type:circle;"><li><a target="_blank" rel="noopener noreferrer" href="https://www.npmjs.com/package/aa-schnorr-multisig">aa-schnorr-multisig</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.npmjs.com/package/aa-schnorr-multisig-sdk">aa-schnorr-multisig-sdk</a></li></ul>That’s it! Today I’ve showcased the pain points and vulnerabilities of the ECDSA signature algorithm when it comes to creating multi-signature transactions. I’ve also taken you on a journey through Schnorr’s Signatures and how to tie them into Account Abstraction to create an effective multisig transaction on Ethereum. Stay tuned for future updates and feel free to <a href="mailto:hello@rumblefish.dev" target="_blank" rel="noopener noreferrer">reach out to our team</a> if you have any blockchain-related questions!

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Multi-SignaturesIn today’s article, we continue the journey through public and private keys, blockchain algorithms, and Account Abstraction. Let’s focus on the complicated matter of ECDSA signatures and how to enable multisig transactions on Ethereum, shall we?

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Understanding Account Abstraction Schnorr Multi-Signatures

Account abstraction in Ethereum represents a groundbreaking shift in how users engage with decentralized applications (dApps). It introduces a novel paradigm where assets can be exclusively held by smart contracts rather than externally owned accounts (EOAs). At the heart of this innovation lies the ERC-4337 standard, which unlocks the potential of smart contract crypto wallets on the Ethereum blockchain.This article delves into Ethereum's account abstraction, exploring how it redefines user experiences with smart contract wallets and understanding <a target="_blank" rel="noopener noreferrer" href="https://www.erc4337.io/">the ERC-4337 standard</a> within the Ethereum ecosystem. Let's dive into the history, evolution, and benefits of account abstraction, and its implications for driving a Web3 revolution.<h2>Back to the basics and why do we need Account Abstraction</h2>To get to the bottom of Account Abstraction we need to take a few steps back and look into two main types of accounts on Ethereum:<ul><li>EOAs (Externally Owned Accounts) - used to store and transfer ETH, ERC-20 tokens, and other digital assets. They are controlled by an Elliptic Curve Digital Signature Algorithm (ECDSA) key, which is cryptography used to sign and verify digital transactions and involves generating a private key and a corresponding public key. (We’ve previously written more about ECDSA <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-3/">here</a>). EOAs are managed using a public-private key pair, where the public key is the 64-byte (128 hex character) from which the network address (20-bytes) with the added prefix 0x is derived and is used by others to identify the account for a transaction. The private key is a mathematical key (kept secret by the holder) used to sign transactions and should be known only to the owner of the EOA. Basically, EOAs can only perform two operations: transfer native tokens to other externally owned accounts, and initiate transactions that prompt the execution of another smart contract transaction. This mechanism opens an account to many vulnerabilities and limitations, poor security being the most crucial one. If the account owner loses the private key and seed phrase, they may lose access to all their assets. There is no social recovery mechanism, no spending limits to set, and no 2FAs to add.&nbsp; Another drawback of EOAs is the lack of customization - owners must sign every transaction manually. On top of that, the EOA owner must possess ETH to cover gas fees. All of those make for an unsatisfying user experience, not very welcoming for users outside the Web3 world.</li><li>Smart Contract Accounts (SCA) - in the simplest terms SCAs are smart contracts functioning as crypto wallets. They are fully programmable and are not controlled by a private key but by a customizable verification logic which opens the way to a variety of new possibilities. SCAs enable transaction customization and add extra features to the wallet, but due to the fact they don’t have a private key and/or seed phrase they cannot initiate transactions. The execution of a specific action is only possible when the smart contract code is triggered by a transaction from an Externally Owned Account (EOA). This basically means that users have to keep an EOA topped up with some ETH (or other native token) to run a contract account. So, dealing with a contract account ends up being even more of a hassle compared to handling a standalone EOA.</li></ul><img src="https://strapi-uploads.rumblefish.dev/EOA_vs_SCA_d7a888049d.png" alt="EOA vs SCA.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_EOA_vs_SCA_d7a888049d.png 245w,https://strapi-uploads.rumblefish.dev/small_EOA_vs_SCA_d7a888049d.png 500w,https://strapi-uploads.rumblefish.dev/medium_EOA_vs_SCA_d7a888049d.png 750w,https://strapi-uploads.rumblefish.dev/large_EOA_vs_SCA_d7a888049d.png 1000w," sizes="100vw" width="1000px">Enters… account abstraction! Account abstraction, a concept described in the ERC-4337 proposal, offers a new approach where a smart account can be tailored to specific user needs using smart contracts but without the need for an existing EOA account. How is that possible? Let’s dive a bit deeper! 🐟<h2>Introducing UserOperation, Bundlers, and Paymasters</h2>EIP-4337 introduced a couple of new features that enabled major upgrades all without any required changes to the Ethereum protocol. One of the said features is a new object type called UserOperation. Instead of shooting off regular transactions like an EOA would, UserOperation can handle operations on behalf of users. UserOperation objects carry data and multiple instructions to execute smart contract calls initiated by the smart contract account. They're then dispatched into a dedicated mempool where validators, referred to as "bundlers", gather them up into a "bundled transaction”. A bundler monitors the special mempool designed for UserOperation objects, bundling them into a single transaction sent to the EntryPoint contract. They receive compensation in the form of a portion of the gas fees for this service. Bundlers play a vital role in the account abstraction workflow because EAOs are still required to initiate all Ethereum transactions. Moreover, all bundlers possess EOAs, making them the sole participants needing them within this account abstraction ecosystem. This approach effectively abstracts the necessity for every Web3 participant to have their own EOA. Et voila!A moment ago, we mentioned an EntryPoint contract. EntryPoint, as a smart contract, receives transactions from bundlers and handles the verification and execution of UserOperations. In the verification phase, it checks if the wallet holds sufficient funds; if not, the transaction is rejected. For execution, EntryPoint executes UserOperations by invoking the smart contract wallets with the call data of the operations. Additionally, EntryPoint deducts funds from the account to reimburse the bundlers.Another new addition, introduced in EIP-4337 proposal is Paymaster, tasked with managing gas payment policies. These policies offer options on who foots the gas bill and how it's done. As a result, users aren't obliged to hold the native ETH token to engage with the network anymore. It’s a significant improvement for new users, entering the world of Web3 for the first time.&nbsp;<img src="https://strapi-uploads.rumblefish.dev/aa_workflow_8f50735103.png" alt="aa workflow.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_aa_workflow_8f50735103.png 245w,https://strapi-uploads.rumblefish.dev/small_aa_workflow_8f50735103.png 500w,https://strapi-uploads.rumblefish.dev/medium_aa_workflow_8f50735103.png 750w,https://strapi-uploads.rumblefish.dev/large_aa_workflow_8f50735103.png 1000w," sizes="100vw" width="1000px"><h2>Benefits of Account Abstraction</h2>Now that we have a basic understanding of how Account Abstraction works and what mechanisms it utilizes, we can focus on what it actually brings to Web3 users.<h3>Improved security</h3>Right now, Ethereum accounts rely on a seed phrase and private keys to handle transactions. If that seed phrase takes a hike, there's no getting your accounts back, setting spending limits, adding whitelist accounts, or freezing accounts for extra security measures. But with Account Abstraction, developers can get crafty and program all sorts of options for account authentication and recovery.&nbsp;<h3>Lower barrier to entry</h3>For folks who aren't familiar with blockchain, understanding the ins and outs of EOAs can pose a challenge. Properly managing and protecting their keys can be complex and leave them susceptible to vulnerabilities. However, thanks to Account Abstraction, developers have the flexibility to implement different logic to integrate security features and allow users to customize how they process and authenticate transactions.<h3>Enabled customization and automation</h3>When it comes to the current externally owned account (EOA) setup, users are stuck with transactions that can't be customized or automated. Each one has to be signed off individually. But with account abstraction, the game changes. Now, users can set up recurring payments and dive into other forms of automation.&nbsp; With EOA, you need to approve and authorize each transaction one by one. Imagine if you're into gaming or anything that involves a lot of transactions – it's a real time-suck and not all that convenient. But with Account Abstraction, things start looking up. You'll be able to greenlight multiple transactions with just one go, kind of like bagging a bunch of items with a single payment.&nbsp; Account Abstraction empowers developers to craft "wallets" that are non-custodial yet deliver a straightforward, intuitive, and dependable experience for end-users. DeFi apps can sport a user interface reminiscent of banking apps, where users are relieved of concerns regarding key management, gas fees, and other complexities. That's the ticket to making life easier for users diving into Ethereum and Web3 apps!<h3>Upgraded gas fee management options</h3>Remember Paymasters from earlier? Thanks to this feature, smart account users can cover gas fees with any ERC-20 token they fancy. Plus, anyone can chip in to foot the bill for someone else's transactions, dApps can even cover their users' gas fees as a thank-you, sponsorship, or just to keep things smooth sailing for users hopping onto their app. That’s the customer-first approach we all love!<h2>Conclusion</h2>In summary, Ethereum's Account Abstraction marks a significant milestone in blockchain technology, offering users unparalleled flexibility and security. As developers delve deeper into its capabilities, the prospects for account abstraction appear promising, steering the evolution of Web3 toward widespread adoption.In the next part of this series, we’ll take a look at the most promising projects powered by Account Abstraction, including one of our own - Devil Wallet, a mobile Web3 wallet utilizing EIP-4337. Stay tuned!

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Account abstraction in Ethereum represents a groundbreaking shift in how users engage with decentralized applications (dApps). It introduces a novel paradigm where assets can be exclusively held by smart contracts rather than externally owned accounts (EOAs). At the heart of this innovation lies the ERC-4337 standard, which unlocks the potential of smart contract crypto wallets on the Ethereum blockchain.

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What is Account Abstraction and Why is It Important? EIP-4337 Explained

This post is Part 3 of our three-part series dedicated to ZKs and Private Tokens. Click here for <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-1/">Part 1</a>, and <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-2/">Part 2</a>.<h2>Part 3: Return of the Hash</h2><h3>Theory vs practice. Expectations vs reality</h3>In the previous part of the series, we delved into seemingly unrelated topics about blockchain, zero-knowledge proofs, and privacy. Now, let’s transition to practical considerations and explore the tools available for developers.Undoubtedly, the creation of any kind of ZK technology needs ZK Proof. How can we create it? The core element in this process is known as a circuit, often referring to an arithmetic circuit—an ordered collection of operations (such as addition, multiplication) represented by gates. In the realm of ZK-circuits, this translates to a program specifying a calculation to be performed on certain data inputs, used by the prover to generate a proof of knowledge. Thankfully we’re not forced to create every complex circuit from logic gates (AND, OR etc), but instead can use dedicated programming languages. Moreover, it's possible to validate the proof on-chain, using smart contracts deployed on platforms like Ethereum. Let's explore the available options:<ul style="list-style-type:circle;"><li><a target="_blank" rel="noopener noreferrer" href="https://docs.circom.io/">circom</a> by iden3: designed for ZK-circuit development, circom provides programmers with a powerful and precise Domain-Specific Language (DSL). However, newcomers may find it challenging to grasp the syntax and semantics underlying the mathematical equations.</li><li><a target="_blank" rel="noopener noreferrer" href="https://aztec.network/">Noir by Aztec</a>: a language for Aztec, a privacy-focused Layer 2 for Ethereum, heavily inspired by Rust. Noir is designed to be user-friendly for developers without a ZK background.</li><li><a target="_blank" rel="noopener noreferrer" href="https://www.cairo-lang.org/">Cairo</a> by Starkware: another language dedicated to Layer 2, Cairo is a relatively low-level "intermediate" language known for its efficiency and scalability.</li><li><a target="_blank" rel="noopener noreferrer" href="https://zokrates.github.io/">Zokrates</a>: while not a language per se, Zokrates is a toolbox for zkSNARKs. It simplifies the complexity of ZK-circuits, aiding in generating proofs in high-level languages and verifying them through Solidity smart contracts.</li></ul>Other noteworthy languages include:<ul><li><a target="_blank" rel="noopener noreferrer" href="https://docs.minaprotocol.com/zkapps/o1js">o1js</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://leo-lang.org/">Leo</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://lurk-lang.org/">Lurk</a></li></ul>As evident, several options are already available, with more on the horizon! While developing on Layer 2 platforms like Starknet has dedicated languages, addressing the Ethereum Mainnet introduces intricacies due to subtle yet consequential differences between ZK and EVM elliptic curves. Let’s explain them now.<h3>Elliptic curves and straightforward hashes</h3>Once again, in this series of articles, I don't intend to delve too deeply into this complex theme, as covering everything comprehensively would require another series of papers. Numerous excellent resources on this subject can be found on the internet. So, let's keep it as simple as possible.Blockchains like Bitcoin or Ethereum employ hashes as account addresses, which is obvious. However, not everyone understands how these addresses are created. It involves something like private and public keys, a touch of cryptography (or, as some might say, magic), and voila! Let's take a closer look.In mathematics, there's a concept known as elliptic curves. While these curves can take various forms, they are essentially a set of points that satisfy a specific mathematical equation, such as:y2 = x3 + ax + b.&nbsp;<img src="https://strapi-uploads.rumblefish.dev/zk_private_token_part3_chart_1_d39c1b3a79.png" alt="zk-private-token-part3-chart-1.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_zk_private_token_part3_chart_1_d39c1b3a79.png 174w,https://strapi-uploads.rumblefish.dev/small_zk_private_token_part3_chart_1_d39c1b3a79.png 500w,https://strapi-uploads.rumblefish.dev/medium_zk_private_token_part3_chart_1_d39c1b3a79.png 750w,https://strapi-uploads.rumblefish.dev/large_zk_private_token_part3_chart_1_d39c1b3a79.png 1000w," sizes="100vw" width="1000px">&nbsp;Utilizing the cryptographic system known as ECDSA (Elliptic Curve Digital Signature Algorithm), it becomes possible to obtain a point on the elliptic curve (public key) through the multiplication of two numbers. One of these numbers represents the private key. The trick lies in the fact that calculating the public key from a known number (private key) is extremely fast, yet attempting to deduce the number (private key) from a given point (public key) is incredibly challenging. In essence, the public key can be derived through a one-way function from the private key.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/zk_private_tokens_chart_2_bcc8c47fc1.jpg" alt="zk-private-tokens-chart-2.jpg" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_zk_private_tokens_chart_2_bcc8c47fc1.jpg 184w,https://strapi-uploads.rumblefish.dev/small_zk_private_tokens_chart_2_bcc8c47fc1.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_zk_private_tokens_chart_2_bcc8c47fc1.jpg 750w," sizes="100vw" width="750px"><figcaption><a target="_blank" rel="noopener noreferrer" href="https://www.horizen.io/academy/public-key-cryptography-pkc/">Click for resource</a></figcaption></figure>To generate a public address for your account, simply append 0x to the beginning of the last 20 bytes of the Keccak-256 hash of the public key.<img src="https://strapi-uploads.rumblefish.dev/keccak_256_a2093c2e59.png" alt="keccak-256.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_keccak_256_a2093c2e59.png 97w,https://strapi-uploads.rumblefish.dev/small_keccak_256_a2093c2e59.png 311w," sizes="100vw" width="311px">The curve employed in ECDSA is named the secp256k1 curve, and what holds significance for us is that operations on this curve entail arithmetic with 256-bit numbers. Why is this aspect crucial?<h3>Zero-Knowledge Proofs and EVM Relationship Status: It’s complicated</h3>Recall zkSNARKs, the proving system integral to Zero-Knowledge Proofs? zkSNARKs rely on elliptic curve cryptography, which permits operations only on numbers restricted to 254 bits. In summary, the numbers utilized on Ethereum's EVM surpass the 254-bit limits allowed in zkSNARK systems. Consequently, to implement ECDSA algorithms within ZK circuits, we must resort to 'non-native' field arithmetic.This presents one of the most significant challenges in ensuring a smooth interaction between ZKP and EVM. While it is achievable, there's always a trade-off: time or money. A noteworthy example is the commendable work by the 0xPARK Foundation, which presented an implementation of <a target="_blank" rel="noopener noreferrer" href="https://0xparc.org/blog/zk-ecdsa-1">an ECDSA circuit in the circom language, capable of generating zkSNARKs</a>. Although it is possible to prove ownership of an account, there is still much to be done, as the performance falls short of expectations. The circom environment is resource-constrained, making proofs expensive and time-consuming.Nevertheless, ongoing efforts have resulted in an improved approach to verifying ECDSA signatures in ZK. <a target="_blank" rel="noopener noreferrer" href="https://personaelabs.org/posts/spartan-ecdsa/">Spartan-ecdsa</a>, introduced by Personae Labs, shows promise. It’s still a work in progress, with challenges like poor Keccak performance and excessively large proofs for on-chain verification via smart contracts still needing to be addressed.<h3>There is always hope</h3>Let's pause for a moment and contemplate our goals and available options. The objective is to validate the proof (a 254-bit system) on-chain, which is a 256-bit system. Two potential approaches come to mind:<ol><li>Convert 256-bit numbers to 254-bit ones, as previously discussed. However, this option, as assumed, is currently impractical.</li><li>Convert 254-bit numbers to 256-bit ones, which we will dive into below.</li></ol>Given that numerous encryption and description operations need to occur within zkSNARKs, necessitating 254-bit numbers for easy arithmetic, we can explore the utilization of another elliptic curve known as Baby Jubjub. Specifically designed to function efficiently within zkSNARKs on Ethereum, <a target="_blank" rel="noopener noreferrer" href="https://eips.ethereum.org/EIPS/eip-2494">the ERC-2494</a> was introduced in 2020. Although it is no longer active, it remains a compelling and intriguing concept worth considering.<h3>A Bitcoin Orchard: Merkle Trees</h3>In the realm of Zero-Knowledge Proofs (ZKP) on the Ethereum Virtual Machine (EVM), or more broadly, whenever we navigate the blockchain landscape, a critical consideration emerges: data storage. While the ability to create and verify proofs is commendable, it becomes even more enchanting when we can efficiently store those proofs on the blockchain. A widely adopted solution, employed, for instance, by Tornado Cash, is the Merkle Tree. This data structure proves invaluable for privacy-centric projects by securely storing hashed (encrypted) data fragments while enabling the verification of specific data without exposing the entirety of the dataset. Let's once again refer to the diagram for a clearer illustration.<img src="https://strapi-uploads.rumblefish.dev/merkle_tree_bb7e69a379.png" alt="merkle-tree.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_merkle_tree_bb7e69a379.png 203w,https://strapi-uploads.rumblefish.dev/small_merkle_tree_bb7e69a379.png 500w,https://strapi-uploads.rumblefish.dev/medium_merkle_tree_bb7e69a379.png 750w," sizes="100vw" width="750px">At its core, a Merkle Tree is a data structure crafted from encrypted (hashed) data fragments. Illustrated in the diagram, each pair undergoes a hashing process, generating the next "leaf" (node). This paired hashing repeats, ascending the tree until culminating in the top hash known as the Merkle Root. This ingenious structure facilitates the proof of data existence within the tree without necessitating the storage of the entire dataset. For an in-depth exploration, delve into <a target="_blank" rel="noopener noreferrer" href="https://medium.com/crypto-0-nite/merkle-proofs-explained-6dd429623dc5">this detailed explanation</a>.Merkle Trees works great for the UTXO Model, because the entire state can be stored with two Merkle Trees:<ul><li>a Note Tree - stores all system data, including smart contracts and asset ownership;</li><li>a Nullifier Tree - stores data about spent (used) UTXOs.</li></ul>Before using a UTXO, it's checked in the Nullifier Tree to ensure it hasn't been used. If all's clear, changes can be made in the Note Tree.<h3>Encrypt. Verify. Repeat. zkSNARK</h3>Understanding Merkle Trees is vital for comparing SNARKs on various circuits, especially if the criterion is hash verifying efficiency. The method of creating hashes within the Merkle Tree, however, is far from unequivocal; it hinges on factors like numerical systems (e.g., 256- / 254-bit), arithmetic complexity, and cryptographic security. The most prominent ones among many available hash functions are:&nbsp;<ul><li><a target="_blank" rel="noopener noreferrer" href="https://eprint.iacr.org/2016/492">MiMC</a> - designed for very compact circuits with minimal amount of multiplications. Great for the tiniest circuits and as the base for more complicated algorithms (e.g. <a target="_blank" rel="noopener noreferrer" href="https://eprint.iacr.org/2019/397.pdf">GMiMC</a>),</li><li><a target="_blank" rel="noopener noreferrer" href="https://eprint.iacr.org/2019/458">Poseidon</a> - an enhanced version of MiMC with improved security, well-suited for scenarios requiring a collision-resistant, secure, and SNARKs-friendly algorithm,</li><li><a target="_blank" rel="noopener noreferrer" href="https://research.nccgroup.com/2023/03/22/breaking-pedersen-hashes-in-practice/">Pedersen</a> - extremely useful and efficient, for e.g. homomorphic encryption, which enables solving some zk-security problems (like <a target="_blank" rel="noopener noreferrer" href="https://research.nccgroup.com/2021/06/15/on-the-use-of-pedersen-commitments-for-confidential-payments/">confidential payments</a>) and building Merkle proofs. On the other hand, this can lead to <a target="_blank" rel="noopener noreferrer" href="https://research.nccgroup.com/2023/03/22/breaking-pedersen-hashes-in-practice/">significant security vulnerabilities</a>.</li></ul>Segueing back to zkSNARKs protocols, two prominent players — PLONK and Groth16 — take the spotlight. For a detailed exploration of their nuances and functionalities, <a target="_blank" rel="noopener noreferrer" href="https://medium.com/@mehialiabadi/plonk-vs-groth16-50254c157196">dive into this article</a>. In a nutshell, both Groth16 and PLONK, are not quantum-resistant, and exhibit distinct characteristics: Groth16 boasts a generally smaller proof size, whereas PLONK sidesteps the need for recurring trusted setup ceremonies.<h3>Private Token: Proof of Concept&nbsp;</h3>Let’s see what the Private Token system could look like, using ZKP and EVM blockchain. Private Token is deployed as an EVM smart contract on a ZK-rollup (L2) and uses zkSNARKs to verify (on-chain via smart contract) transfer correctness and keep privacy at the same time. It is designed with the UTXO Model and uses Merkle Tree for membership proof. The Private Token contract maps UTXOs with commitments, having a structure defined by owner address, value, and unique ID. The ZK Circuit, written in circom language, verifies input and output UTXO values and sender ownership. As a result, we get a new UTXO commitment, in the form of data hashed with e.g. Pedersen Hash Function. If valid, a new commitment is added to the Merkle Tree using the Baby Jubjub curve (254-bit) for an efficient proof system. UTXOs are stored on Private Token contract in an encrypted format and thanks to the Partially Homomorphic Encryption can be decrypted and read only by the owner of the account.Simple, right? Well, if you're still a bit dazzled, no worries – I'm not grading anyone on their zero-knowledge prowess. Stick around, and we'll unravel more in the next posts!

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In the previous part of the series, we delved into seemingly unrelated topics about blockchain, zero-knowledge proofs, and privacy. Now, let’s transition to practical considerations and explore the tools available for developers.Undoubtedly, the creation of any kind of ZK technology needs ZK Proof. How can we create it?&nbsp;

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The Current State of Knowledge About Zero Knowledge. Comprehensive Private Token Overview - Part 3

This post is Part 2 of our three-part series dedicated to ZKs and Private Tokens. Please read Part 1 <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-1/">here</a>.<h2>Part 2: The ZK Strikes Back</h2><h3>Money for nothin’ (... and the privacy for free)</h3>But why does it matter? Why delve into all these models and ownership concepts? Well, it's crucial when we aim to understand secure and privacy-centric transactions.As mentioned in <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-1/">Part 1</a>, the UTXO model resembles a cash-payment system, while ETH's Account-Based model is more akin to a bank account setup. Which one offers better privacy? Certainly, it's the former. Cash transactions are visible to both parties (sender and receiver), and the only necessary data is the bill's value and its new owner's address. Simple as that. Moreover, the sender (Bob) and receiver (Alice) can arrange to transfer cash without meeting by utilizing a code-safe box. Bob places the money in the box, sends the code to Alice, who then enters the code to retrieve the money. Voila! It's private and secure.Now, let's explore how this straightforward example can evolve into a blockchain solution. The critical question arises: How can we verify that Bob genuinely owned that money before and/or didn't just print the bill and hack the system? Well, the solution lies in checking whether Bob owns the money and ensuring that Alice (A) and Bob (B) balances before the transaction are equal to their balances after the transaction, represented as A1 + B1 = A2 + B2. This is where the magic unfolds — enter zero knowledge proofs.<h3>ZKP. Zero Knowledge Proof.</h3>Thanks to the prowess of cryptography, one can prove the veracity of a given piece of data without actually revealing the data itself. If you've never encountered Zero Knowledge Proofs (ZKP), you might be surprised that it's possible. Yes, it's possible! Revisiting our example, Bob (the prover) can persuade Alice (the verifier) that he owns the money and the transaction is valid. Moreover, the entire system can acknowledge this proof, all without anyone discerning the specific amount of money and balances involved!Now, let's pause for a moment and delve deeper into the beauty of ZKP.&nbsp;While the concept is continually evolving (with much work still ahead), its roots trace back to 1985 when it was first introduced in the academic paper <a target="_blank" rel="noopener noreferrer" href="https://dl.acm.org/doi/10.1145/22145.22178">"The knowledge complexity of interactive proof-systems"</a>.From our perspective, the significance lies in ZKP's ability to address privacy concerns, allowing for the validation of claims without the need to expose sensitive information. For instance, it can be employed to verify your ID without revealing the actual ID ("I am Bob, here's the proof!"). To achieve this, the most basic structure of a zero-knowledge proof consists of three elements:<ol><li>Witness: This is the secret information that the prover aims to prove knowledge of without revealing it.</li><li>Challenge: A randomly selected question posed by the verifier, which the prover must answer.</li><li>Response: The answer calculated by the prover in response to the question asked.</li></ol>This interaction must be repeated multiple times to eliminate the possibility of the prover faking knowledge of the witness. Termed "interactive zero-knowledge proof," it necessitates back-and-forth communication between the prover and verifier. While this is effective, it might be inconvenient or even impossible in some cases. Fortunately, there's also a solution—enter "Non-interactive ZKP," which can be generated using a "shared key." This key can be passed to anyone for verification, minimizing the communication required between the prover and verifier, thus enhancing the efficiency of ZKP.<h3>zk-TYPEs&nbsp;</h3>Non-interactive proofs come in various types, and currently, two of the most compelling are:<ol><li>zk-SNARK: Zero Knowledge Succinct Non-interactive Argument of Knowledge</li></ol>Introduced in 2012 and employed by, for example, Zcash, zk-SNARKs are small in size and easy to verify (succinct). zk-SNARK generates a proof using elliptic curves cryptography (no worries, I will explain them later on!), which implicates two important things. Firstly, the proof-generating process requires a trusted setup, so the initial creation event of the keys is needed to create and verify the proof. This one is called the Powers of Tau Ceremony and is used to ensure security by using a multi-party computation (MPC) (more about setup ceremonies can be found <a target="_blank" rel="noopener noreferrer" href="https://zkproof.org/2021/06/30/setup-ceremonies/">here</a>). Secondly, zkSNARKs are not quantum attacks resistant, which might be the case in the future.&nbsp;<ol start="2"><li>zk-STARK: Zero-Knowledge Scalable Transparent Argument of Knowledge</li></ol>Based on hash functions, zk-STARKs stand out by being resistant to quantum attacks and not requiring a trusted setup, unlike zk-SNARKs. However, zk-STARK proofs have a considerably larger size than zk-SNARKs, translating to longer verification times and increased gas requirements.<img src="https://strapi-uploads.rumblefish.dev/zk_snark_vs_zk_stark_1cfd4f86c2.png" alt="zk-snark-vs-zk-stark.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_zk_snark_vs_zk_stark_1cfd4f86c2.png 245w,https://strapi-uploads.rumblefish.dev/small_zk_snark_vs_zk_stark_1cfd4f86c2.png 500w,https://strapi-uploads.rumblefish.dev/medium_zk_snark_vs_zk_stark_1cfd4f86c2.png 750w,https://strapi-uploads.rumblefish.dev/large_zk_snark_vs_zk_stark_1cfd4f86c2.png 1000w," sizes="100vw" width="1000px"><h3>Zero Knowledge Proof - Full Utility Certainty</h3>Since its introduction, Zero Knowledge Proofs (ZKP) have found compelling use cases, and we'll focus on their application in the blockchain realm. ZCash, launched in 2016, stands out as one of the pioneers in privacy-oriented blockchains, as it was created as the solution for one of the biggest Bitcoin challenges: privacy. While Bitcoin leans towards pseudonymity, allowing for easy tracking of addresses and transactions, <a target="_blank" rel="noopener noreferrer" href="https://z.cash/">ZCash</a> strives for true anonymity. Leveraging ZK technology, specifically zkSNARKs, ZCash conceals transaction amounts and addresses, offering a robust privacy solution (learn more <a target="_blank" rel="noopener noreferrer" href="https://z.cash/learn/what-is-zcash/">here</a>).ZK technology isn't exclusive to the UTXO Model; projects on the Account-Based model, especially on the Ethereum Network, have embraced it as well. <a target="_blank" rel="noopener noreferrer" href="https://tornado.ws/">Tornado Cash</a>, a prominent example, acts as a mixer allowing users to deposit crypto from one address and withdraw it with another, thwarting attempts to link two wallets and track on-chain activity. While facing legal issues and security challenges, Tornado Cash remains an intriguing attempt at preserving privacy.Other projects like Consensys' "The Confidential Transactions" and EY's "Nightfall Project" approach privacy differently. The Confidential Transactions aimed to enable transfers with encrypted balances, concealing user balances. Sender and receiver addresses weren’t hidden though, both sides of a transaction had to communicate off-chain and users had to keep decrypted balances to not lose access to their funds, which made The Confidential Transactions not so user-friendly and thus unsuccessful.&nbsp;On the other hand, the Nightfall Project sought to recreate the UTXO Model on Ethereum's smart contract, employing a Merkle Tree to manage UTXOs and hide users' balances. Though facing challenges such as expensive transactions and synchronization issues, <a target="_blank" rel="noopener noreferrer" href="https://www.ey.com/en_gl/news/2023/01/the-ey-and-polygon-organizations-update-source-code-for-blockchain-privacy-based-protocol-nightfall">Nightfall evolved into a zk-rollup protocol</a> in collaboration with Polygon, offering efficient private transactions on the Ethereum Mainnet without compromising transparency and security.<h3>Like a complete unknown, like a Rolling Stone… like a ZK Roll-up?&nbsp;</h3>As detailed on <a target="_blank" rel="noopener noreferrer" href="https://ethereum.org/en/developers/docs/scaling/zk-rollups">Ethereum's comprehensive content and resource page</a>, Zero-Knowledge Rollups (ZKR) are Layer 2 scaling solutions designed to enhance throughput on the Ethereum Mainnet by relocating computation and state storage off-chain. ZKR bundles transactions into batches, executing them off-chain and subsequently posting reduced data to the blockchain.Remember the Blockchain Trilemma we discussed earlier? Layer 2 (L2) is a concept aiming to address Ethereum's scalability issues, essentially a separate blockchain <a target="_blank" rel="noopener noreferrer" href="https://ethereum.org/en/layer-2/#what-is-layer-2">extending Ethereum with inherited security guarantees</a>. L2 typically comprises a network (separate blockchain) and a smart contract responsible for interacting with the underlying blockchain, such as the Ethereum Mainnet.Presently, two main Layer 2 implementations are considered the most promising: payment channels and rollups. Both aim to reduce transaction costs and enhance scalability by executing state changes off-chain and proving them on-chain.One can’t be surprised that scalability in rollups can be achieved in different ways and nowadays two types are being the most actively developed: Optimistic Rollup and ZK Rollup. Focusing on the latter due to its alignment with the Zero Knowledge theme of this article, ZK Rollups aggregate transactions, perform off-chain computation (generate Zero Knowledge Proofs) and send data to Layer 1 smart contracts for proof validation. This architectural approach accelerates and economizes transactions without compromising security.While this may seem overly complex, there are already working solutions like <a target="_blank" rel="noopener noreferrer" href="https://zksync.io/">zkSync</a>, <a target="_blank" rel="noopener noreferrer" href="https://www.starknet.io/en">Starknet</a>, <a target="_blank" rel="noopener noreferrer" href="https://loopring.org/">Loopring</a>, and <a target="_blank" rel="noopener noreferrer" href="https://aztec.network">Aztec</a>, with a total value locked exceeding a billion dollars (see <a target="_blank" rel="noopener noreferrer" href="https://l2beat.com/scaling/summary">ZK Rollup project summary</a>).A significant challenge in ZK Rollups revolves around generating and validating proofs efficiently. How to create the proof as fast as possible, while keeping it not “too heavy” or not too expensive to verify (remember, this must be passed to the blockchain, and that costs money!)? This is exactly where the knowledge about zkSNARKs and zkSTARKs needs to be utilized to choose the most suitable technology for a project! For example, Starknet uses zkSTARK and Loopring is based on zkSNARKs. So, as you can see, it’s not such a trivial decision, especially when the technology is being developed so rapidly.&nbsp;This is Part 2 of our three-part series - stay tuned for its continuation!

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But why does it matter? Why delve into all these models and ownership concepts? Well, it's crucial when we aim to understand secure and privacy-centric transactions.As mentioned in <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/the-current-state-of-knowledge-about-zero-knowledge-comprehensive-private-token-overview-part-1/">Part 1</a>, the UTXO model resembles a cash-payment system, while ETH's Account-Based model is more akin to a bank account setup. Which one offers better privacy? Certainly, it's the former.&nbsp;

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The Current State of Knowledge About Zero Knowledge. Comprehensive Private Token Overview - Part 2

This blog post is the first of the three-part series regarding Zero Knowledge and Private Tokens. We’re going to take a deep dive into the history, evolution, and what lies ahead for Private Tokens. Today, I’m going to take you through the Blockchain Trilemma, the different approaches to on-chain user balance tracking, and more. Ready to dive in? Let’s get started!&nbsp;<h2>Part 1: Blockchain’s New Hope</h2>Alright, so you’ve come across the term “blockchain” and wondered if it automatically guarantees privacy. Perhaps you've engaged in transactions and found yourself puzzled by the myriad of hashes and private/public keys. Ever wished it were as straightforward as typing in your name and sending tokens? Alternatively, you might be well-versed in blockchain tech but haven't delved into the realms of privacy, anonymity, and pseudonymity. If any of these scenarios resonate with you, grab a generous cup of coffee, find a comfortable seat, and let's embark on a journey through the expansive universe of blockchain!<h3>Who is the Batman?</h3>Anonymity is likely one of the buzzwords that pop up when people discuss blockchain. However, we need to recognize that it's not as simple as equating blockchain with anonymity. Why? Because while some blockchains offer the possibility of true anonymity, others do not.Have you ever heard of Satoshi Nakamoto? That's the alias of the inventor of Bitcoin. We know his nickname and have a fair idea of his wallet addresses and some transactions, yet his real identity remains elusive (and probably always will). Think of him as Batman – everyone knows what he does and how he looks, but nobody knows his real face. This is pseudonymity.&nbsp; On the other hand, anonymity means your identity is concealed, and your actions can't be traced back to you or your address. However, this doesn't imply that transaction details are impossible to unveil. When the data of a transaction is entirely concealed, we call it a private transaction. Why might someone need it? Well, it can be a huge advantage for people who care about their digital privacy or for companies dealing with sensitive private data. And many many more. So privacy is gonna be the main topic of this series of articles, in which we’ll look at how it can be implemented and the pros and cons of different approaches.<h3>Public, private, or permissioned?</h3>Let's circle back to the blockchain. Imagine it as a decentralized public ledger capable of storing various types of data. So, how does a public ledger offer any privacy? The answer lies in cryptography — specifically, the mathematical underpinnings of this technology. Don't worry; we won't delve (too) deeply into concepts like zero-knowledge proofs (ZK), secure multi-party computation (MPC), or fully homomorphic encryption (FHE) this time. Instead, we'll provide an overview to grasp the context and understand the numerous approaches to blockchain architecture and its concepts.Returning to the privacy dilemma for a moment, it's crucial to recognize that blockchain isn't inherently a private ledger by default. The widely known ones, such as Bitcoin or Ethereum, are indeed public, allowing anyone to join and participate in their core activities. Simultaneously, it's possible to establish a decentralized ledger (aka blockchain) controlled by a single entity (operator) that restricts access to the network, permitting only selected and verified participants to create it. This is referred to as a private blockchain.You might wonder how this differs from a centralized database (an excellent question!). The key lies in immutability and digital signatures! Blockchains ensure that once data is recorded, it becomes practically impossible to change (well, almost, as explained in my <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/blog/post/how-to-make-smart-contracts-upgradeable-without-Proxy/">previous post about Upgradeability</a>). Just to let you know, there’s also a mix of public and private concepts named permissioned (in some cases called “consortium” or “federated”), which is public but can allocate specific permissions to a specific user.<h3>Gotta catch ’em all! Security, Decentralization, Scalability - The Blockchain Trilemma</h3>Why do we find ourselves in the position of having to choose the best fit for our needs among private, public, or permissioned blockchains? Can't we simply create and standardize a "Plug and Play blockchain"? It sounds fantastic, but it’s akin to facing the Blockchain Trilemma. Numerous articles, videos, and discussions delve into this theme, so here, I'll briefly sum it up to ensure you're familiar with the concept before we move forward.&nbsp; The Blockchain Trilemma, as articulated by Vitalik Buterin, posits that a blockchain can deliver only two out of three essential benefits: security, decentralization, and scalability.The Blockchain Trilemma, as articulated by <a target="_blank" rel="noopener noreferrer" href="https://twitter.com/VitalikButerin">Vitalik Buterin</a>, posits that a blockchain can deliver only two out of three essential benefits: security, decentralization, and scalability.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/the_blockchain_trilemma_rumble_fish_6f467b37de.png" alt="the-blockchain-trilemma-rumble-fish.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_the_blockchain_trilemma_rumble_fish_6f467b37de.png 245w,https://strapi-uploads.rumblefish.dev/small_the_blockchain_trilemma_rumble_fish_6f467b37de.png 500w,https://strapi-uploads.rumblefish.dev/medium_the_blockchain_trilemma_rumble_fish_6f467b37de.png 750w,https://strapi-uploads.rumblefish.dev/large_the_blockchain_trilemma_rumble_fish_6f467b37de.png 1000w," sizes="100vw" width="1000px"><figcaption>The Blockchain Trilemma</figcaption></figure><h3>“Always two there are. No more. No less.”</h3>Perhaps Master Yoda wasn't talking about blockchains, but we can certainly agree that, currently, two of the most significant blockchains with fundamental differences are Bitcoin (BTC) and Ethereum (ETH). In this discussion, I'll concentrate on one of many distinctions crucial to comprehending diverse approaches to privacy and anonymous transactions—specifically, the tracking of users' balances.They say a picture is worth a thousand words. Indeed, let's start by examining the diagram below.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/models_detailed_comparison_by_medium_user_5a8069e797.png" alt="models-detailed-comparison-by-medium-user.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_models_detailed_comparison_by_medium_user_5a8069e797.png 245w,https://strapi-uploads.rumblefish.dev/small_models_detailed_comparison_by_medium_user_5a8069e797.png 500w,https://strapi-uploads.rumblefish.dev/medium_models_detailed_comparison_by_medium_user_5a8069e797.png 750w,https://strapi-uploads.rumblefish.dev/large_models_detailed_comparison_by_medium_user_5a8069e797.png 1000w," sizes="100vw" width="1000px"><figcaption><a target="_blank" rel="noopener noreferrer" href="https://drraghavendra99.medium.com/how-to-measure-and-improvise-utxo-efficiency-using-topl-blockchain-99c776c90b8f">Click for source</a></figcaption></figure>Now, let's take a guess at which one describes BTC and ETH. Alternatively, we can delve into the workings of these two.The UTXO (Unspent Transaction Output) model serves as a foundational concept for the BTC network and was chosen for various reasons. It can be compared to cash transactions, where each UTXO is akin to a paper bill. For instance, if you need to pay $10 but only have a $20 bill, you hand over the $20, with $10 going to the recipient and $10 returned to you as a change. Each bill can be represented as a separate UTXO. Later, if you want to pay, say, $30, you would take $10 and $20 bills (two separate UTXOs) and create a single transaction (a single UTXO worth $30). In terms of the blockchain, the Bitcoin protocol doesn't track users' balances. Instead, each UTXO is attributed to a specific address. The protocol doesn't create your account with an updated balance but checks all your UTXOs and displays a summarized amount. Each Bitcoin node maintains a list of all UTXOs and checks their usability (whether they have already been spent).Sticking with this real-life analogy, we can think of the Account Model used by ETH as a banking system, where every asset is represented by the balance within accounts. Each transaction recorded by the blockchain alters the system state, meaning that every node on the network must track and store all account balances with each new block added to the chain. For example, if Bob wants to pay Alice $20, his balance is decreased, and Alice's is increased by $20. To prevent a Double-Spending Attack (or, in ETH terms, a Replay Attack), each transaction has its own nonce—a number that can be used only once.<img src="https://strapi-uploads.rumblefish.dev/account_vs_utxo_comparison_cbaf6777ff.png" alt="account-vs-utxo-comparison.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_account_vs_utxo_comparison_cbaf6777ff.png 245w,https://strapi-uploads.rumblefish.dev/small_account_vs_utxo_comparison_cbaf6777ff.png 500w,https://strapi-uploads.rumblefish.dev/medium_account_vs_utxo_comparison_cbaf6777ff.png 750w,https://strapi-uploads.rumblefish.dev/large_account_vs_utxo_comparison_cbaf6777ff.png 1000w," sizes="100vw" width="1000px">When it comes to privacy, both the UTXO and Account Models come with their respective pros and cons.The UTXO model introduces a bit more complexity in linking transactions due to the ability to change addresses with each new one. A newly created address lacks an owner, making it less straightforward to trace connections between UTXOs and, consequently, correlate them to a single use.On the other hand, the Account-based model doesn't offer such flexibility. Each address's state is meticulously tracked. However, it comes with a "built-in mixer", adding a layer of complexity to tracing the flow of money. If an account receives funds from various sources with numerous transactions, the entire amount is consolidated as the account's balance. When a new payment is recorded, it becomes challenging to pinpoint the exact coin that was used for that transaction.It's important to note that this is a simplified overview, and we're not diving into the technical possibilities or "corner cases" at this point.<h3>Yes, we can mix!</h3>As mentioned earlier, one of the significant drawbacks of the UTXO Model is its relative difficulty in implementing multi-assets and smart contracts (or any kind of programs executed on-chain). Nevertheless, there are already ideas circulating on how to enhance the UTXO and make it more "programmable." This evolution can be observed in blockchains like <a target="_blank" rel="noopener noreferrer" href="https://cardano.org/">Cardano</a> or <a target="_blank" rel="noopener noreferrer" href="https://www.nervos.org/">Nervos</a>, which have implemented the Extended UTXO (EUTXO) models. These models might be considered even more flexible and developer-friendly than the Account-Based Model.Without delving too deep into EUTXO (which is undoubtedly substantial enough for a separate article), we can simplify and assume that EUTXO extends the "basic" UTXO in two significant ways:<ul><li>Uses scripts as logic to determine whether UTXO can be spent or not,</li><li>Allows the sending of (almost) any kind of data, not just address and value.</li></ul>This is what distinguishes EUTXO from the Account-Based Model—scripts and data are used to alter the blockchain state.That wraps it up for now and concludes the first part of my series. Today, we've laid the groundwork for Part 2, where I'll dive deeper into the realms of zero-knowledge proofs and private tokens. More to come next week - stay tuned!

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This blog post is the first of the three-part series regarding Zero Knowledge and Private Tokens. We’re going to take a deep dive into the history, evolution, and what lies ahead for Private Tokens. Today, I’m going to take you through the Blockchain &nbsp;Trilemma, the different approaches to on-chain user balance tracking, and more. Ready to dive in? Let’s get started!&nbsp;

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The Current State of Knowledge About Zero Knowledge. Comprehensive Private Token Overview - Part 1

In the rapidly evolving digital innovation landscape, AI chatbot assistants are emerging as powerful catalysts for change across various industries. Let's explore how these intelligent assistants revolutionize operations and drive unparalleled benefits in various sectors.AI chatbots leverage a spectrum of advanced AI technologies, like machine learning for refined responses, natural language processing (NLP), and natural language understanding (NLU) to precisely decipher user inquiries and align them with specific intents. With deep learning capabilities, AI chatbots continuously enhance accuracy, fostering natural and seamless interactions. This iterative learning process makes human-AI interactions more intuitive, with a communication style that flows effortlessly without the risk of misunderstandings over time. Let’s see how AI chatbots can enhance productivity, customer satisfaction, and efficiency across multiple industries.<h2>Must-know AI Chatbot Stats</h2>Let’s start with some numbers to support our claims and emphasize the importance of the AI industry. AI is not just a technology; it's a transformative force reshaping the dynamics of human-machine interaction. Chatbots, wielding the power of conversational AI, have proven instrumental in driving sales, boasting an average <a target="_blank" rel="noopener noreferrer" href="https://www.intercom.com/blog/the-state-of-chatbots/">increase of 67%</a>. This isn't just about revenue; it's about the efficacy of chatbots in closing deals, with <a target="_blank" rel="noopener noreferrer" href="https://www.intercom.com/blog/the-state-of-chatbots/">35% of business leaders</a> crediting them for successful transactions.Investment in conversational AI is witnessing a surge, evident in the rising number of mergers and acquisitions in the sector. The global chatbot market, valued at $370 million in 2017, is expected to reach <a target="_blank" rel="noopener noreferrer" href="https://www.marketsandmarkets.com/Market-Reports/conversational-ai-market-49043506.html">$29.8 billion by 2028</a>. By 2025, the entire AI market is projected to reach a staggering <a target="_blank" rel="noopener noreferrer" href="https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-market-74851580.html">$190 billion</a>, underlining the sheer magnitude of its impact. However, trust remains a critical factor. A significant 39% of respondents in the United States express reluctance to entrust AI voice assistants with making phone calls, emphasizing the importance of building trust in the evolving landscape of conversational AI.On the other hand, customers seem to be ready for the future. Over <a target="_blank" rel="noopener noreferrer" href="https://venturebeat.com/business/3-stats-that-show-chatbots-are-here-to-stay/">50% expect</a> businesses to be available 24/7, and more than 40% don't mind whether they're assisted by an AI tool or a human, as long as their questions are answered.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/ai_chatbot_development_stats_0a0ea773c3.png" alt="ai-chatbot-development-stats.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_ai_chatbot_development_stats_0a0ea773c3.png 245w,https://strapi-uploads.rumblefish.dev/small_ai_chatbot_development_stats_0a0ea773c3.png 500w,https://strapi-uploads.rumblefish.dev/medium_ai_chatbot_development_stats_0a0ea773c3.png 750w,https://strapi-uploads.rumblefish.dev/large_ai_chatbot_development_stats_0a0ea773c3.png 1000w," sizes="100vw" width="1000px"></figure>The corporate realm is acknowledging the transformative power of conversational AI. According to <a target="_blank" rel="noopener noreferrer" href="https://www.pwc.com/us/en/tech-effect/ai-analytics/ai-business-survey.html">the PWC 2022 AI Business Survey</a>, CEOs, with 40% identifying the improvement of employee experiences and 37% focused on enhancing consumer experiences, are steering their companies toward a more AI-powered future.Conversational AI, potentially reducing customer service costs by up to 40%, is not just a cost-effective solution but a catalyst for improved customer experiences. As businesses stand on the precipice of this technological revolution, embracing the power of conversational AI is not just an option — it's a strategic imperative. Let’s see real-life examples of AI chatbot implementation in various industries.<h2>Retail and E-Commerce: A Seamless Shopping Experience</h2>In the retail and e-commerce sector, AI chatbot assistants are reshaping the customer journey. Picture a virtual assistant guiding users through product selections, answering queries, and even facilitating purchases without human intervention. By providing instant responses and personalized interactions, these chatbots elevate customer satisfaction, streamline transactions, and enhance the overall shopping experience.<h3>Real-Life Use Case: AI Chatbot in E-commerce</h3><a target="_blank" rel="noopener noreferrer" href="https://yellow.ai/case-study/sephora-embraces-digital-experiences-through-conversational-ai/">Sephora Singapore</a> strategically blended physical and digital experiences using conversational AI, introducing a virtual assistant for personalized beauty consultations and in-store-like interactions online. This move resulted in over 9,000 users, 332,000+ conversation sessions, and an average monthly revenue increase of $30,000 within a year. The virtual assistant's success challenges the notion that chatbots are solely for complaint resolution, highlighting their potential in upselling and cross-selling. Sephora's adept use of generative AI stands as a successful model, showcasing the technology's potential to redefine customer engagement in the retail sector.&nbsp;<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/Megi_naslovna_3_min_4403fefaf9.png" alt="Megi_naslovna_3-min.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_Megi_naslovna_3_min_4403fefaf9.png 133w,https://strapi-uploads.rumblefish.dev/small_Megi_naslovna_3_min_4403fefaf9.png 426w,https://strapi-uploads.rumblefish.dev/medium_Megi_naslovna_3_min_4403fefaf9.png 639w,https://strapi-uploads.rumblefish.dev/large_Megi_naslovna_3_min_4403fefaf9.png 852w," sizes="100vw" width="852px"><figcaption>Source: megi.ai</figcaption></figure><h2>Healthcare: Personalized Patient Support</h2>In healthcare, the role of AI chatbot assistants extends beyond administrative tasks. These chatbots assist in appointment scheduling, provide medication reminders, and offer basic health information. By delivering personalized and context-aware responses, they create a supportive and engaging patient environment, ultimately contributing to improved healthcare experiences.<h3>Real-Life Use Case: AI Chatbot in Healthcare</h3><a target="_blank" rel="noopener noreferrer" href="https://www.megi.ai/">Megi Health</a>, a digital healthcare startup faced the challenge of enhancing patient care and optimizing medical staff efficiency. Recognizing the potential of technology, Megi Health created a secure and user-friendly digital platform to provide 24/7 support to chronic patients. Leveraging WhatsApp, the platform introduced a virtual assistant, streamlining patient interactions and achieving objectives. The chatbot facilitates two-way data exchange, allowing patients to submit readings and receive immediate feedback, connecting them with a doctor when necessary. Results include an 86% CSAT score and a remarkable 65% reduction in data collection time, demonstrating the transformative impact of AI in healthcare.<h2>Legal Services: Simplifying Legal Processes</h2>Legal services benefit from the efficiency of AI Chatbot Assistants in simplifying legal processes. These chatbots provide basic legal information, guide users through legal procedures, and offer support in understanding legal documentation. This streamlines the legal service workflow, making legal assistance more accessible and user-friendly.To see a real-life example of an AI chatbot for the legal industry, please <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/case-studies/ai-chat-assistant/">review our case study</a>.<a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/case-studies/ai-chat-assistant/"><img src="https://strapi-uploads.rumblefish.dev/ai_chatbot_development_case_study_rf_82abc53e6d.png" alt="ai-chatbot-development-case-study-rf.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_ai_chatbot_development_case_study_rf_82abc53e6d.png 245w,https://strapi-uploads.rumblefish.dev/small_ai_chatbot_development_case_study_rf_82abc53e6d.png 500w,https://strapi-uploads.rumblefish.dev/medium_ai_chatbot_development_case_study_rf_82abc53e6d.png 750w,https://strapi-uploads.rumblefish.dev/large_ai_chatbot_development_case_study_rf_82abc53e6d.png 1000w," sizes="100vw" width="1000px"></a><h2>Travel and Hospitality: Bridging Language Gaps Globally</h2>For the travel and hospitality industry, language barriers can be a significant hurdle to global expansion. AI Chatbot Assistants break down these barriers by offering multilingual support. They assist users in various languages, facilitating bookings, providing travel information, and ensuring a seamless experience for travelers worldwide.<h3>Real-Life Use Case: AI Chatbot in Travel</h3>Gol Airlines, a prominent South American airline, faced challenges in addressing customer inquiries, particularly those related to COVID-19 restrictions. To overcome this, <a target="_blank" rel="noopener noreferrer" href="https://www.voegol.com.br/en-us/customer-service/gal-chat">they introduced Gal</a>, a virtual assistant providing round-the-clock customer support. With an impressive 85% retention rate, Gal autonomously handled 90% of 900,000 inquiries. The virtual assistant streamlined interactions, offering passengers increased visibility into important information. This successful implementation showcases Gal's efficiency in addressing customer queries, improving the overall customer experience for Gol Airlines.<h2>Real Estate: Transforming Lead Generation and Property Searches</h2>In real estate, AI chatbots become invaluable assets for lead generation and customer engagement. These chatbots guide users through property searches, schedule viewings, and offer insights into market trends. By providing personalized interactions and efficient responses, they generate high-quality leads and streamline the property search process.<h3>Real-Life Use Case: AI Chatbot in Real Estate</h3><a target="_blank" rel="noopener noreferrer" href="https://www.squirrel.co.nz/mortgage-broker/chatbot">Alan is a friendly AI chatbot from Squirrel</a>, dedicated to helping first home buyers. His main purpose is to assist users in figuring out how much they can afford to borrow for their first home. Alongside providing practical information on topics like getting a deposit together and understanding mortgages, Alan adds a touch of humor to brighten users' days. Users can ask him about the latest interest rates, seek guidance on buying a house, or inquire about common mistakes to avoid. Alan is designed for first-time home buyers and learns more with each interaction.<h2>Finance: Empowering Financial Operations</h2>In the finance sector, AI chatbot assistants play a crucial role in optimizing financial operations by managing routine queries and streamlining processes. These chatbots assist users with financial inquiries, simplify transaction procedures, and offer information about financial policies and services. By automating repetitive tasks, these tools contribute to a more efficient and responsive financial environment.<h3>Real-Life Use Case: AI Chatbots in Finance</h3>HSBC, in collaboration with Google Cloud's customer engineering team, <a target="_blank" rel="noopener noreferrer" href="https://www.finextra.com/newsarticle/37662/hsbc-taps-google-cloud-for-call-centre-ai">developed the Operational Resilience and Risk Application (ORRA)</a>, a chatbot equipped with FAQ and document search capabilities. ORRA is another example of an AI assistant dedicated to employees rather than end customers. Powered by Google Cloud Dialogflow, ORRA enables dynamic document searches and engages in natural conversations, offering a cost-efficient solution for large-scale conversational FAQ flows. Accessible to all HSBC employees via the intranet, ORRA addresses queries on internal policies and framework areas throughout the bank. The chatbot combines a knowledge base created with Dialogflow, small talk for a human touch, and an in-house document search function using Natural Language Processing, providing rapid and precise access to information while fostering learning and development.<h2>Conclusion: A Tailored Approach for Every Industry</h2>In conclusion, the transformative capabilities of AI chatbot assistants are tailored to meet the unique needs of diverse industries. Whether it's providing a seamless shopping experience, enhancing patient support, breaking language barriers, generating leads in real estate, simplifying legal processes, or empowering workplace efficiency, these intelligent assistants are proving to be invaluable assets across the business landscape.&nbsp; Embrace the industry-specific brilliance of AI chatbot assistants to revolutionize your operations and drive sustained success in your sector <a target="_blank" rel="noopener noreferrer" href="https://www.rumblefish.dev/services/ai-chat-assistant/">with the help of our AI development team</a>.<figure class="image"><a href="https://www.rumblefish.dev/services/ai-chat-assistant/" target="_blank" rel="noopener noreferrer"><img src="https://strapi-uploads.rumblefish.dev/banner_rumble_fish_ai_development_30f49780e0.png" alt="banner-rumble-fish-ai-development.png" srcset="https://strapi-uploads.rumblefish.dev/thumbnail_banner_rumble_fish_ai_development_30f49780e0.png 245w,https://strapi-uploads.rumblefish.dev/small_banner_rumble_fish_ai_development_30f49780e0.png 500w,https://strapi-uploads.rumblefish.dev/medium_banner_rumble_fish_ai_development_30f49780e0.png 750w,https://strapi-uploads.rumblefish.dev/large_banner_rumble_fish_ai_development_30f49780e0.png 1000w," sizes="100vw" width="1000px"></a></figure>

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In the rapidly evolving digital innovation landscape, AI chatbot assistants are emerging as powerful catalysts for change across various industries. Let's explore how these intelligent assistants revolutionize operations and drive unparalleled benefits in various sectors.

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How AI Chatbot Assistants Transform Businesses - Top 6 Real Use Cases of AI Chatbot Implementation

The blockchain industry thrives on trustlessness, decentralization, and immutability. These principles are the cornerstones of its rapid growth in recent years. However, like any innovative field, blockchain technology is not without its challenges. One major challenge is the immutability of smart contracts—once deployed, they cannot be changed. But what if a smart contract contains a vulnerability that could lead to funds being lost, or if you simply want to enhance its functionality or optimize gas usage? In this article, I’ll explain the concept of Non-Proxy Upgradeability Pattern.<h2 style="line-height:1.7999999999999998;margin-bottom:0pt;margin-top:0pt;" dir="ltr" id="docs-internal-guid-c26cf51d-7fff-e439-aac8-770ce5d86a86">&nbsp;To be (upgradeable) or not to be?</h2>Trustlessness, decentralization, security. Immutability. The beauty of the blockchain. This is why this cutting-edge technology has been growing so rapidly for the last couple of years and surely there are still a lot of new ideas and concepts waiting to be discovered. But there’s no innovation without mistakes and as always new technologies can suffer from infancy problems. For sure those problems should be solved, but how can they be solved once the code is already deployed and can’t be changed (immutability, right?)? Aren’t smart contracts (self-executing programs) immutable by design? And shouldn’t they be as simple as possible? Yeah, but what if the contract is vulnerable and can lead to funds lost? Shouldn’t a bug be fixed? Or what if we simply want to improve functionality or optimize gas usage?Welcome to the Blockchain.<h2 style="line-height:1.38;margin-bottom:0pt;margin-top:0pt;" dir="ltr">&nbsp;Clone vs Proxy</h2>So many questions, so few answers? Not really! Fortunately, some Big Brains were also thinking about the&nbsp;Upgradeability Dilemma, and some solutions have already been found and developed. I’m not gonna present and explain all of them, but for context let’s take a look at two:&nbsp;the Proxy Patterns and the Clones.&nbsp;<h3 style="line-height:1.7999999999999998;margin-bottom:0pt;margin-top:0pt;" dir="ltr">&nbsp;Proxy Pattern</h3>In this approach, a smart contract acts as a proxy (storage layer) that delegates all calls to another contract with the logic implementation (logic layer). The address of the logic implementation can be changed, enabling upgradability. The typical structure looks like this:<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/user_proxy_implementation_a369add49e.jpg" alt="user-proxy-implementation.jpg" srcset="https://strapi-staging-aldnr.rumblefish.devhttps://strapi-uploads.rumblefish.dev/thumbnail_user_proxy_implementation_a369add49e.jpg 245w, https://strapi-staging-aldnr.rumblefish.devhttps://strapi-uploads.rumblefish.dev/small_user_proxy_implementation_a369add49e.jpg 500w, https://strapi-staging-aldnr.rumblefish.devhttps://strapi-uploads.rumblefish.dev/medium_user_proxy_implementation_a369add49e.jpg 750w, https://strapi-staging-aldnr.rumblefish.devhttps://strapi-uploads.rumblefish.dev/large_user_proxy_implementation_a369add49e.jpg 1000w" sizes="100vw" width="1000"></figure><h3 style="line-height:1.7999999999999998;margin-bottom:4pt;margin-top:16pt;" dir="ltr" id="docs-internal-guid-e59a9283-7fff-1bbf-17d1-f4d6bd9b95ff">Clone Factory Pattern</h3>In this method, each instance of the clone contact has an identical bytecode, so only one instance of the implementation (logic layer) needs to be deployed and all clone instances behave as proxies. This approach, often referred to as the "minimal proxy," is defined in the&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://eips.ethereum.org/EIPS/eip-1167">EIP-1167 standard</a>.Although the Clone Factory Pattern aims to clone contract functionality simply and cost-effectively, it can still raise questions about its "purity" since it relies on a "proxy" pattern.Hold on, but what’s wrong with that? I assume you know what the gas is and why we need it on the Ethereum blockchain. Notably, the&nbsp;.transfer() and&nbsp;.send() functions, used for ETH transfers, come with a fixed 2300 gas stipend,&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://docs.soliditylang.org/en/v0.5.11/units-and-global-variables.html#members-of-address-types">which is non-adjustable</a>.&nbsp; Furthermore, the&nbsp;delegatecall function, fundamental to proxy patterns, incurs a gas cost of 21,000 (as msg calls in the EVM have an inherent base fee of 21,000 gas, and for proxy cases,&nbsp;delegatecall&nbsp;is treated as a transaction). As a result, if the wallet uses .send() function to send the ETH to the Proxy it is not gonna work!<h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;" dir="ltr">Cloning constructor to the rescue!</h2>Alright, so what can we do about this? Ladies and gentlemen, let me introduce the&nbsp;Non-Proxy Upgradeability Pattern! This approach enables you to deploy a contract to a specific address and later, if necessary, replace its logic while preserving the contract's state and balance. Here's how it works in a few simple steps:<ol><li>You need a factory that deploys contracts. This factory&nbsp;must have a fixed address, which can be achieved through deterministic deployment, e.g. via Hardhat extensions.</li><li>The Factory has a method that deploys static bytecode which is&nbsp;“clone-contract constructor” (CCC). This constructor once deployed asks the deployer (msg.sender) about initial parameters via&nbsp;STATICCALL. To deploy the clone the&nbsp;CREATE2 method is used, which means the address depends only on:<ol><li>the deployer address - and this is a fixed factory address</li><li>a random salt&nbsp;</li></ol></li></ol>That means the address of the cloned contract depends only on the salt.<ol style="list-style-type:decimal;" start="3"><li>The CCC uses&nbsp;EXTCODECOPY to load the contract logic code to the memory and finishes the entire process with&nbsp;RETURN, which points to the freshly cloned code.</li><li>Call from the Factory contract&nbsp;Init() function to use the&nbsp;calldata (which was passed with&nbsp;STATICCALL from step 2) and initialize the&nbsp;contract-clone.&nbsp;</li></ol>Magic!&nbsp;The code was cloned without a proxy pattern!&nbsp;Alright, so how can we upgrade the contract code if we don’t have a proxy? To achieve this we need two separate transactions because the contract's balance (as a result of the&nbsp;SELFDESTRUCT) is sent at the end of tx. So here it is:<ol><li>Clone-contract uses the&nbsp;SELFDESTRUCT opcode to clear all the contract data and sends the factory address as the contract's balance receiver.</li><li>The factory finishes the upgrade by calling the&nbsp;finalizeUpgrade() function, which copies the new contract implementation the same way as it was done at the creation step 1 and sends all the native coin amounts received in the previous step.</li></ol>And that’s it!&nbsp;<h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;" dir="ltr">OPCODES, slots, and EVM Storage</h2>If you want to learn more, let me show you some code behind the magic explained above.<ul><li>call&nbsp;templateAddress() on&nbsp;msg.sender and store it under storage slot 0x1234</li></ul>{{codeSnippet,OPCODES}}<ul><li>copy contract's code to memory</li></ul>{{codeSnippet,memory}}<ul><li>return and point to the copied code</li></ul>{{codeSnippet,return}}In Solidity it can be implemented like this:{{codeSnippet,solidity}}<h2 style="line-height:1.7999999999999998;margin-bottom:0pt;margin-top:0pt;" dir="ltr">Conclusion</h2>The Non-Proxy Upgradeability Pattern offers an alternative path to upgrade smart contracts without relying on a proxy pattern. By addressing gas costs and enabling deterministic deployments, it opens up new possibilities for blockchain developers to enhance contract functionality and security. This approach exemplifies the ever-evolving nature of blockchain technology, where challenges lead to innovative solutions.I really hope this blog post will help those of you struggling with creating upgradeable contracts. If you have any questions or would like to discuss the methodology - drop us a line at hello@rumblefish.dev. In the meantime, stay tuned for more coding stories!

PUSH1 0x80      
RETURNDATASIZE
DUP2
DUP2
PUSH4 0x0c5a6f2f    // sighash of templateAddress()
PUSH1 0xe0
SHL                 	// SHL 224 bits to the left
PUSH1 0x00
MSTORE        		 // MSTORE(0x, 0x0c5a6f2f) - store sighash to use it for STATICCALL

… 

PUSH2 0x1234
SSTORE              	// store templateAddress() value under storage slot 0x1234

copy contract's code to memory
PUSH1 0x00
MLOAD
EXTCODESIZE         // EXTCODESIZE(templateAddress)
DUP1                	// duplicate code size and put on stack for last RETURN 
PUSH1 0x00
DUP1
DUP1
MLOAD
EXTCODECOPY         // EXTCODECOPY


OPCODES

PUSH1 0x00
MLOAD
EXTCODESIZE         // EXTCODESIZE(templateAddress)
DUP1                	// duplicate code size and put on stack for last RETURN 
PUSH1 0x00
DUP1
DUP1
MLOAD
EXTCODECOPY         // EXTCODECOPY


Memory

Return

/**
    * @dev Deploy static bytecode which is "contract-clone constructor"
    * it calls factory to copy a code deployed under templateAddress()
    * @param _salt It's used to determine the final contracts address
    */
   function _deployContractClone(bytes32 _salt) internal returns (address instance) {
       // set template address to be read from templateAddress()
       template = upgradeableContractData[_salt].template;
       assembly {
           let ptr := mload(0x40)
           mstore(ptr, 0x60803d8181630c5a6f2f60e01b600052335afa600051611234556000513b8060)
           mstore(add(ptr, 0x20), 0x008080513c6000f3000000000000000000000000000000000000000000000000)
           instance := create2(0, ptr, 0x28, _salt)
       }
       require(instance != address(0), "ERC1167: create2 failed");
       upgradeableContractData[_salt].instance = instance;
       template = address(0);
   }


Solidity

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The blockchain industry thrives on trustlessness, decentralization, and immutability. These principles are the cornerstones of its rapid growth in recent years. However, like any innovative field, blockchain technology is not without its challenges. One major challenge is the immutability of smart contracts—once deployed, they cannot be changed.&nbsp;

How to make smart contracts upgradeable without Proxy?

Once again we’ve partnered with the Swiss-Polish Blockchain Association to co-organize their annual Beyond Blockchain symposium. The event, this time happening in Warsaw, will take place on September 4th, 2023. The focus of this edition is the role of blockchain and AI in finance, the luxury goods market, and sports and entertainment. Rumble Fish is an official partner of the event.<a href="https://swisspolishblockchain.org/">Swiss-Polish Blockchain Association</a>, which we are a member of, is known for the high quality of its conferences. The key to success lies in the exquisite lineup of speakers, thought-provoking panel discussions, and excellent networking. This year, the emphasis is put on blockchain and AI and its impact on finance, luxury goods, and sports and entertainment. Attendees can also count on lots of regulatory discussions which are always in high demand as we’re facing a big change in lawmakers&#39; attitudes towards crypto and Web3. With 4 discussion panels packed with industry experts and professionals, Beyond Blockchain Annual Symposium is a must-attend event for all blockchain enthusiasts. <h3>Rumble Fish at Beyond Blockchain Annual Symposium</h3>Rumble Fish will be proudly represented by our co-founder and CTO, <a href="https://www.linkedin.com/in/marek-kowalski-797a438/">Marek Kowalski</a>, and Head of Growth, <a href="https://www.linkedin.com/in/sylwia-bien-marketing/">Sylwia Bień-Chudarek</a>. Sylwia and Marek will be making an introduction for one of the discussion panels, which Marek will be also joining afterward. The title of the panel is Beyond the Hype: Blockchain and Digital Technology&#39;s Game-Changing Role in Sports and Entertainment. Marek will be joined by industry experts: Bartosz Błach (<a href="https://1liga.org/">Fortuna 1 Liga</a>), Mariusz Gąsiewski (<a href="https://www.linkedin.com/in/mariuszgasiewski">Google</a>), Artur Pszczółkowski (<a href="https://gg3.xyz/">GG3</a>), Monika Górska (<a href="https://wardynski.com.pl/en/">Wardyński &amp; Partners</a>), and Paweł Łaskarzewski (Nomad Fulcrum). See you in Warsaw!The tickets are still available <a href="https://bit.ly/SPBA-III-symposium">here</a>.Full info on the event, including the details agenda is available <a href="https://swisspolishblockchain.org/iii-beyond-blockchain-annual-symposium/">here</a>.

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Once again we’ve partnered with the Swiss-Polish Blockchain Association to co-organize their annual Beyond Blockchain symposium. The event, this time happening in Warsaw, will take place on September 4th, 2023. The focus of this edition is the role of blockchain and AI in finance, the luxury goods market, and sports and entertainment. Rumble Fish is an official partner of the event.

Beyond Blockchain Symposium.png

Rumble Fish at Beyond Blockchain Annual Symposium 2023

Decentralized Finance (DeFi) is disrupting the global financial market in multiple ways. It lets its participants reclaim control of their assets, eliminating the need for intermediaries. By getting rid of traditional financial institutions DeFi allows for more efficient asset management while enabling greater transparency and security. But to actually build a DeFi product that people will love to use is not a piece of cake. Over the last few years, we’ve seen many failed DeFi projects. Today, let’s look at those who overcame the challenges to see what they have in common. Here’s a list of 7 DeFi projects to watch in 2023 and beyond.The DeFi space has been rapidly evolving, bringing revolutionary changes to the traditional financial landscape. We’re halfway through 2023, and the DeFi sector continues to gain momentum, with new projects emerging and existing ones expanding their offerings. In this blog post, we will explore ten DeFi projects that have shown immense potential and promise to shape the future of finance. Whether you're a DeFi enthusiast or an investor seeking opportunities in this thriving market, keep an eye on these projects as they make waves in 2023 and beyond.<h2>Top 7 projects to watch in the upcoming future</h2><figure class="image"><img src="https://strapi-uploads.rumblefish.dev/compound_4f5d9ebe78.png" alt="compound.png" srcset="https://strapi-uploads.rumblefish.dev/large_compound_4f5d9ebe78.png 1000w,https://strapi-uploads.rumblefish.dev/small_compound_4f5d9ebe78.png 500w,https://strapi-uploads.rumblefish.dev/medium_compound_4f5d9ebe78.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_compound_4f5d9ebe78.png 245w," sizes="100vw" width="1000px"><figcaption>Compound website, July 2023</figcaption></figure><h3>1. <a target="_blank" rel="noopener noreferrer" href="https://compoundlabs.xyz/">Compound</a> - a permissionless DeFi protocol that allows lenders to learn interest from their crypto assets</h3>Compound is an Ethereum-based lending protocol that lets users earn interest on their cryptocurrency holdings. In 2022 one of their projects called Compound Treasury became the first institutional DeFi offering rated by a major credit rating agency (with a B- rating). Compound Treasury is a crypto cash management solution for institutions. According to their materials <a target="_blank" rel="noopener noreferrer" href="https://medium.com/compound-finance/compound-treasury-sp-credit-rating-897aff3a6f8c">accredited investors can earn 4% on USD and USDC with daily liquidity</a>.&nbsp;<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/synthetix_82f615340f.png" alt="synthetix.png" srcset="https://strapi-uploads.rumblefish.dev/large_synthetix_82f615340f.png 1000w,https://strapi-uploads.rumblefish.dev/small_synthetix_82f615340f.png 500w,https://strapi-uploads.rumblefish.dev/medium_synthetix_82f615340f.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_synthetix_82f615340f.png 245w," sizes="100vw" width="1000px"><figcaption>Synthetix website, July 2023</figcaption></figure><h3>2. <a target="_blank" rel="noopener noreferrer" href="https://synthetix.io/">Synthetix</a> - a decentralized platform for trading synthetic assets</h3>What are synthetic assets? Also known as “synths”, synthetic assets are tokenized representations of real-world assets designed to mimic the price movements of various assets without requiring direct ownership of the underlying resources. In true DAO fashion, Synthetix relies on a decentralized governance model, where their token (SNX) holders have the ability to participate in the decision-making process through on-chain voting.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/stargate_af876b1ec9.png" alt="stargate.png" srcset="https://strapi-uploads.rumblefish.dev/large_stargate_af876b1ec9.png 1000w,https://strapi-uploads.rumblefish.dev/small_stargate_af876b1ec9.png 500w,https://strapi-uploads.rumblefish.dev/medium_stargate_af876b1ec9.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_stargate_af876b1ec9.png 245w," sizes="100vw" width="1000px"><figcaption>Stargate website, July 2023</figcaption></figure><h3>3. <a target="_blank" rel="noopener noreferrer" href="https://stargate.finance/">Stargate</a> - making cross-chain liquidity transfers a reality</h3>Stargate Finance is a well-trusted cross-chain bridge enabling asset transfers between a variety of Layer 1 and Layer 2 networks. Decentralized finance users can swap native assets cross-chain within a single transaction. As an example, users can seamlessly trade USDC on Ethereum for ESDT on the BNB network. Stargate has been very successful so far, gaining a lot of recognition and praise within the industry. It’s definitely worth keeping an eye out for its future endeavors!<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/lido_931410cf09.png" alt="lido.png" srcset="https://strapi-uploads.rumblefish.dev/large_lido_931410cf09.png 1000w,https://strapi-uploads.rumblefish.dev/small_lido_931410cf09.png 500w,https://strapi-uploads.rumblefish.dev/medium_lido_931410cf09.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_lido_931410cf09.png 245w," sizes="100vw" width="1000px"><figcaption>Lido website, July 2023</figcaption></figure><h3>4. <a target="_blank" rel="noopener noreferrer" href="https://lido.fi/">Lido</a> - a multi-platform staking solution</h3>Introduced in late 2020, Lido allows its users to access the benefits of staking their crypto assets without fully locking their tokens. According to <a target="_blank" rel="noopener noreferrer" href="https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-lido-ldo/">Bitstamp</a>, throughout 2022 and into 2023, approximately 30% of all ETH were staked through Lido, which returns stETH to users as a liquid token. Lido protocols are governed by the LDO token holders through the Lido DAO.&nbsp;<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/hadouken_52d2dd3ee5.png" alt="hadouken.png" srcset="https://strapi-uploads.rumblefish.dev/large_hadouken_52d2dd3ee5.png 1000w,https://strapi-uploads.rumblefish.dev/small_hadouken_52d2dd3ee5.png 500w,https://strapi-uploads.rumblefish.dev/medium_hadouken_52d2dd3ee5.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_hadouken_52d2dd3ee5.png 245w," sizes="100vw" width="1000px"><figcaption>Hadouken website, July 2023</figcaption></figure><h3>5. <a target="_blank" rel="noopener noreferrer" href="https://hadouken.finance/">Hadouken Finance</a> - bringing top class DeFi products to the Nervos ecosystem</h3>Hadouken is a DEX platform on Godwoken (which is a Layer 2 of the Nervos blockchain). It offers a whole array of products for portfolio management, trading, lending, and borrowing. They created a multibridge that allows for bringing funds onto Hadouken from Ethereum, Avalanche, BNB, Polygon, Solana, and more. At Rumble FIsh we’re happy of being a part of the Hadouken story, as we were a team responsible for developing the stablecoin swapping solution.<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/frax_1f280c3dbe.png" alt="frax.png" srcset="https://strapi-uploads.rumblefish.dev/large_frax_1f280c3dbe.png 1000w,https://strapi-uploads.rumblefish.dev/small_frax_1f280c3dbe.png 500w,https://strapi-uploads.rumblefish.dev/medium_frax_1f280c3dbe.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_frax_1f280c3dbe.png 245w," sizes="100vw" width="1000px"><figcaption>Frax website, July 2023</figcaption></figure><h3>6. <a target="_blank" rel="noopener noreferrer" href="https://frax.finance/">Frax Finance</a> - a DeFi ecosystem for stablecoin trading</h3>The Frax Protocol has been issuing three stablecoins so far - FRAX (pegged to the US dollar), FPI (Frax Price Index, which is the first stablecoin pegged to CPI - a basket of consumer goods), and frxETH (Frax Ether - pegged to ETH). Frax also develops an entire infrastructure of subprotocols that integrate their stablecoins. Their FraxSwap for example, is the first AMM with an embedded TWAMM (time-weighted average market maker) which allows for conducting big trades over long periods of time trustlessly.&nbsp;<figure class="image"><img src="https://strapi-uploads.rumblefish.dev/nexus_b93b38fee5.png" alt="nexus.png" srcset="https://strapi-uploads.rumblefish.dev/large_nexus_b93b38fee5.png 1000w,https://strapi-uploads.rumblefish.dev/small_nexus_b93b38fee5.png 500w,https://strapi-uploads.rumblefish.dev/medium_nexus_b93b38fee5.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_nexus_b93b38fee5.png 245w," sizes="100vw" width="1000px"><figcaption>Nexus Mutual website, July 2023</figcaption></figure><h3>7. <a target="_blank" rel="noopener noreferrer" href="https://nexusmutual.io/">Nexus Mutual</a> - an insurance alternative for crypto</h3>Nexus Mutual stands as a pioneering DeFi insurance platform, positioned as a promising contender in the crypto space's insurance sector. By offering on-chain protection, it caters to investors, safeguarding them against a diverse range of risks.&nbsp; The platform demonstrates its commitment to security through certified audits conducted by top-tier cybersecurity firms, instilling confidence in the integrity of its smart contracts. Anticipating further growth, the company is actively developing additional products scheduled to launch in 2024. Nexus Mutual’s development is definitely the one to follow!<h2>Conclusion</h2>From enhancing interoperability to offering secure lending and crypto insurance options, these innovative DeFi companies are shaping the financial landscape of the future. Investors, users, and enthusiasts alike should keep a close eye on these top 7 DeFi companies as they continue to make strides in decentralized finance and beyond.&nbsp;

7-defi-projects-to-watch.jpg

Decentralized Finance (DeFi) is disrupting the global financial market in multiple ways. It lets its participants reclaim control of their assets, eliminating the need for intermediaries. By getting rid of traditional financial institutions DeFi allows for more efficient asset management while enabling greater transparency and security. Let’s look at those who overcame the challenges to see what they have in common.

7 DeFi projects to watch.png

7 DeFi projects to watch in 2023 and beyond

In the early days of blockchain, many thought the technology will be a major threat to the traditional banking industry. But, as the years went by, it became more and more clear that blockchain adoption, rather than a peril, might be a huge opportunity for banks worldwide if applied wisely. Let’s take a closer look at the current state of blockchain technology adoption in traditional banking. The crypto industry started with grand ideas of its users ditching the intermediaries (like traditional banks) when dealing with assets, and switching to decentralized exchanges and wallets. But as events of 2022 showed us, it might not always be the safest idea. Traditional banks for a long time were hesitant to join the crypto bandwagon, but as statistics show us, more and more of them are exploring the possibilities that blockchain brings. <h2>The rise of CBDCs</h2>Central Bank Digital Currency (CBDC) is a digital version of the currency issued by the government, that isn’t pegged to any physical commodities. The main difference between CBDCs and cryptocurrencies is that the former is very much centralized - issued and operated by the state. According to <a href="https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-central-bank-digital-currency-cbdc">McKinsey’s report,</a> there are currently 87 countries actively exploring the concept of CBDC. <h3>The various types of CBDCs</h3>Although it may seem that way, CBDCs aren’t always blockchain-based. There are some projects like <a href="https://blockworks.co/news/in-historic-move-jamaica-makes-cbdc-akin-to-cash">Jamaica’s JAM-DEX</a> (launched in June of 2022) that do not use a distributed ledger. CBDCs can be issued as stand-alone tokens that are distributed by multiple carriers or held directly at the central bank as account-based assets. They can be fully digital and exist only as a digital book entry, or stored on physical devices (phone wallets, physical cards). An example of an account-based model is DCash, which is a CBDC developed by the Easter Caribbean. Its consumers hold deposit accounts with the central bank. The opposite of that is China’s e-CNY which is a pilot project where private banks distribute and maintain CBCDs for their customers. e-CNY was first showcased in 2022, during the Olympics in Beijing where visitors were enabled to make purchases using the currency. What does the rise of CBDCs mean for traditional banking? Commercial banks need to acquire the necessary skills to efficiently perform KYC procedures and anti-money laundering monitoring for digital currencies. In scenarios where commercial banks issue CBDCs to customers, thereby enabling revenue generation through deposits, these banks will bear the responsibility and associated costs of ensuring KYC compliance. The implementation of CBDC has the potential to disrupt the banking industry by reducing the need for intermediaries, enhancing financial inclusion, and increasing competition. <h2>Asset tokenization is here to stay</h2>Asset tokenization is the process of converting physical or tangible assets into digital tokens that are stored and transacted on a blockchain or distributed ledger. It enables representing the ownership or rights to a certain asset in the form of a digital token stored on a decentralized network. What is great about this concept is the possibility of fractionalizing assets, dividing them into smaller units that can be stored and traded individually. What can be tokenized? The real question is - what can’t be? From expensive wine bottles through real estate to <a href="https://decrypt.co/57609/this-professor-is-tokenizing-love-is-he-nuts">love</a> (sic). <h3>Why banks should look into tokenization</h3>The tokenization process typically involves several steps. First, the asset is identified and evaluated. Then, a digital representation of the asset is created on a blockchain platform, assigning a specific number of tokens to represent the asset&#39;s value. These tokens can be fungible or non-fungible, depending on the asset and its characteristics. The benefits of asset tokenization include increased liquidity, fractional ownership, enhanced accessibility, and potential cost savings. By digitizing assets, tokenization eliminates the need for intermediaries, reduces transaction costs, and enables 24/7 trading. It also enables global access to investment opportunities that were previously restricted to certain individuals or institutions. How can traditional banks tap into the benefits tokenization brings? There are a few examples of how they are doing it now. In 2020, the US financial giant JPMorgan started a project called <a href="https://www.jpmorgan.com/onyx/about.htm">Onyx</a>, which is a blockchain-based platform for wholesale payment transactions. One of its most prominent offerings is Tokenized Collateral Network (TCN) which enables investors to utilize assets as collateral. Another one that taps into tokenization is Onyx Digital Assets which is an asset tokenization system that lets financial institutions, fintechs, and asset managers unlock new utility for their financial resources. Onyx is a perfect example of a very established traditional institution not being afraid of technology, but rather utilizing it for a variety of benefits. <h2>Regulators need to catch up</h2>There is a lot of potential in blockchain for banking. But there is a major obstacle that seems to be keeping a lot of financial institutions wary of getting involved. And that obstacle is the law. There aren’t many regulations at hand when it comes to tokenized assets, cryptocurrencies, or blockchain-based financial solutions. Regulators are of course aware that there is a pressing need for clear policy and Europe seems to be at the forefront of making it happen. The EU’s Markets in Crypto Assets (MiCA) regulation was published in the Official Journal of the EU in early June of this year and will enter into force in the second half of 2024. The document is a regulatory framework for digital assets that use DLT (decentralized ledger technology) and it’s the first and (so far) only legislation of this kind in the world, which makes Europe a very attractive market for crypto-enthusiasts and entrepreneurs. With MiCA published, there is a greater chance of traditional banks getting more into crypto assets.<h2>Banks have to learn from IT</h2>In order to tap into crypto in the most effective way, banks need to understand the underlying technology of distributed ledgers and the nuances of crypto assets. And the best way to do it is to take advantage of the knowledge and experience of people who’s been doing blockchain projects for years. Training sessions, discovery workshops, and consulting are the way to go. If you work for a traditional bank and need to explore how blockchain can expand your’s bank offering for it to stay relevant, don’t hesitate to <a href="mailto:hello@rumblefish.dev">contact us</a> - we’re here to help.

Images_for_blog_posts.jpg

In the early days of blockchain, many thought the technology will be a major threat to the traditional banking industry. But, as the years went by, it became more and more clear that blockchain adoption, rather than a peril, might be a huge opportunity for banks worldwide if applied wisely. Let’s take a closer look at the current state of blockchain technology adoption in traditional banking.

How blockchain technology is disrupting.png

How blockchain technology is disrupting the banking industry

We proudly present our newest tool for all Ethereum and Defi developers that want to write better, more effective, and optimized Ethereum smart contracts. EVM Debugger is a tool that will help you become a master in writing smart contracts. And it’s completely free!Unexplainable failures of EVM transactions - if you’re a smart contract developer it’s safe to assume you’ve suffered at some point. When this happens, you usually open <a href="https://etherscan.io/">Etherscan </a>and try to find where your smart contract went astray. Maybe you can retry your transaction with eth_call and get a useful message? Or maybe trace output will help you? Imagine having a tool that performs these debugging steps for you and presents you with the most detailed information about logs, state changes, storage updates, gas usage, and most importantly, revert messages for each of the internal transactions! Our EVM Debugger collects and showcases all the information about a single Ethereum transaction so you can easily identify its pain points and improve your smart contract writing skills.  <h2>How does it work?</h2>All you need to start is a transaction hash that you simply paste into the tool, then you choose the network, and click “Process log”. After a couple of minutes, you’ll get a full analysis of the transaction.<img src="https://strapi-uploads.rumblefish.dev/process_logs_evm_debugger_4096c0775e.png" alt="process-logs-evm-debugger.png" srcset="https://strapi-uploads.rumblefish.dev/large_process_logs_evm_debugger_4096c0775e.png 1000w,https://strapi-uploads.rumblefish.dev/small_process_logs_evm_debugger_4096c0775e.png 500w,https://strapi-uploads.rumblefish.dev/medium_process_logs_evm_debugger_4096c0775e.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_process_logs_evm_debugger_4096c0775e.png 181w," sizes="100vw" width="1000px">
All of the data is organized in a very user-friendly and intuitive way. You get 3 main sections: <ul><li>Data Manager</li></ul>From here you can access source codes (if available), bytecode, and ABIs. <ul><li>Transaction Screen</li></ul>Shows you the trace information (address, status, type, block number, passed gas, gas cost, and value), trace tree, call-specific data, events data, and storage data <ul><li>Structlog Explorer</li></ul>Displays the trace, EVM steps, disassembled bytecode, and step information. The visual graph on the transaction screen lets you know how the gas consumption was divided, and which step was the most expensive one. It’s a great tool for optimizing your future smart codes.<img src="https://strapi-uploads.rumblefish.dev/transaction_screen_04d35a0ec5.JPG" alt="transaction-screen.JPG" srcset="https://strapi-uploads.rumblefish.dev/large_transaction_screen_04d35a0ec5.JPG 1000w,https://strapi-uploads.rumblefish.dev/small_transaction_screen_04d35a0ec5.JPG 500w,https://strapi-uploads.rumblefish.dev/medium_transaction_screen_04d35a0ec5.JPG 750w,https://strapi-uploads.rumblefish.dev/thumbnail_transaction_screen_04d35a0ec5.JPG 245w," sizes="100vw" width="1000px"><h2>Why should you use it?</h2>EVM Debugger is a unique and free solution designed specifically for EVM and Defi developers. It makes EVM smart contract analysis easy and user-friendly, providing developers with detailed information about transactions in one simple step. With EVM Debugger, you can smoothly access all the details regarding a single Ethereum transaction, making it the only debugger you’ll need. With EVM Debugger you’ll be able to easily find errors in your smart contracts as well as optimize them for lower gas usage. It’s also a great learning tool for less seasoned Defi developers as it gives a lot of insights into how EVM works at its most basic level. The tool currently supports networks such as <a href="https://ethereum.org/">Ethereum</a>, <a href="https://goerli.net/">Goerli</a>, <a href="https://polygon.technology/">Polygon</a>, <a href="https://www.alchemy.com/overviews/mumbai-testnet">Mumbai</a>, and <a href="https://sepolia.dev/">Sepolia</a>, with more on the way. Our team is constantly improving the Debugger, adding new features, and collecting feedback from its users. EVM Debugger is a completely free solution, made for developers by developers. To try it, please visit <a href="http://rumblefish.dev/evm-debugger/">http://rumblefish.dev/evm-debugger/</a>. <img src="https://strapi-uploads.rumblefish.dev/rumble_fish_presents_evm_debugger_tool_99e3087335.jpg" alt="rumble-fish-presents-evm-debugger-tool.jpg" srcset="https://strapi-uploads.rumblefish.dev/large_rumble_fish_presents_evm_debugger_tool_99e3087335.jpg 1000w,https://strapi-uploads.rumblefish.dev/small_rumble_fish_presents_evm_debugger_tool_99e3087335.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_rumble_fish_presents_evm_debugger_tool_99e3087335.jpg 750w,https://strapi-uploads.rumblefish.dev/thumbnail_rumble_fish_presents_evm_debugger_tool_99e3087335.jpg 156w," sizes="100vw" width="1000px"><h2>Why did we create it?</h2>At Rumble Fish, we constantly expand our blockchain and Defi knowledge, but we do not gatekeep it. We like to share it with broader communities as we believe in the power of open-source projects and the importance of knowledge sharing. That’s why, as blockchain pros, we decided to make EVM Debugger free for everyone. For the same reason, we created another tool called <a href="https://www.npmjs.com/package/@rumblefishdev/eth-signer-kms">KMS Signer</a> that derives addresses and signs transactions using the AWS KMS (Key Management Service) solution. Stay tuned for our future projects!{{blogPost,Privatizing the private key in blockchain development with KMS Provider}}

<h2>The problem of the (not so) private key</h2>Every collaborative development venture sooner or later faces the problem of effective, convenient, and secure key management. It gets even worse when it comes to blockchain projects, where the private key used to deploy smart contracts on production holds $$$ worth of ether and usually has the power to govern contracts. To keep the private key safe, a stakeholder would need to run production-related operations by himself. That’s the theory.In practice, however, things look different. For many reasons, the stakeholder may not be - and usually isn’t - responsible for deploying, upgrading, or maintaining the code on production, so he entrusts the private key to another person, making it not so private anymore. Devs will ask this person to perform various operations on production by explaining what to do step by step or by providing scripts that require the private key to execute. I can think of many things that can possibly go wrong with this approach:<ul><li>A person entrusted with the key leaves the project and the key needs to be shared with his successor which may not be so trustworthy,</li><li>The script given by a dev has malicious code that steals the private key, </li><li>A person is overwhelmed with devs requests and makes a mistake during an upgrade,</li><li>A person loses the key...</li></ul>And so on.This sounds scary but due to lack of better tooling, this ‘methodology’ is widely used across Defi projects. What can we do about it?<h2>KMS to the rescue</h2>One of the most popular ways to deal with secrets in IT is to use “secret as a service” solutions like AWS Key Management Service which makes collaboration effective and secure. Using this service an AWS user can generate a new key and set which IAM users/roles can use it for signing. Most importantly, keys are generated by AWS and there is no way to export them. IAM users can be given access to use the key for signing without learning the underlying private key. In a sense, this workflow is similar to using a hardware wallet, but instead of using physical Ledger Nano, the developer requests that KMS generates a signature.When a new team member needs to perform a deployment, they receive an appropriate IAM role and gets access to needed secrets. If a member leaves the team, the IAM role is revoked and there is no risk of disclosure. Using this workflow, the stakeholder of the project remains in control of the private key and can assign and revoke access to it when needed.<h2>Using KMS in practice</h2>It takes a bit of work to hook KMS and web3 providers together. Since we’re using this approach in Rumblefish across many projects, we’ve decided to open-source the tools we’re using and “pay it forward”. We’ve created two packages:<ul><li><a href="https://github.com/rumblefishdev/eth-signer-kms">https://github.com/rumblefishdev/eth-signer-kms</a> is a package that you should use when using web3 or ethers contracts.</li><li><a href="https://github.com/rumblefishdev/hardhat-kms-signer">https://github.com/rumblefishdev/hardhat-kms-signer</a> allows deploying contracts using the HardHat development environment and hardhat-deploy plugin. </li></ul>In order to create a new Ethereum account, the user needs to create a KMS key. When doing this in the AWS console, this is the correct way to configure the key:<img src="https://strapi-uploads.rumblefish.dev/marek_obrazek_a3cdaa6eb6.png" alt="marek_obrazek.png" srcset="https://strapi-uploads.rumblefish.dev/large_marek_obrazek_a3cdaa6eb6.png 1000w,https://strapi-uploads.rumblefish.dev/small_marek_obrazek_a3cdaa6eb6.png 500w,https://strapi-uploads.rumblefish.dev/medium_marek_obrazek_a3cdaa6eb6.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_marek_obrazek_a3cdaa6eb6.png 245w," sizes="100vw" width="1000px">The key needs to be:<ul><li>Key type: Asymmetric</li><li>Key usage: Sign and Verify</li><li>Key spec: ECC_SECG_P256K1</li></ul>The next step would be to learn the address of the account that you’ve just created. It’s derived from the public key of the key, but the transition is a tad complicated. We usually do it by configuring the provider using one of the packages above and performing the `eth_accounts` call. For example, when using a hardhat you can do:{{codeSnippet,Privatizing the private key in blockchain development with KMS Provider}}Alternatively using the regular web3 provider:{{codeSnippet,KMS provider learn address}}For more details of the setup please refer to the Readme of the provider package you’re using.Once you know your Ethereum address you can send some ETH to it and you’re all set to start using it for deployments and/or sending transactions.

Every collaborative development venture sooner or later faces the problem of effective, convenient, and secure key management. It gets even worse when it comes to blockchain projects, where the private key used to deploy smart contracts on production holds $$$ worth of ether and usually has the power to govern contracts.

Privatizing the private key in blockchain development with KMS Provider

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We proudly present our newest tool for all Ethereum and Defi developers that want to write better, more effective, and optimized Ethereum smart contracts. EVM Debugger is a tool that will help you become a master in writing smart contracts. And it’s completely free!

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Rumble Fish presents EVM Debugger - the ultimate tool for Defi developers

<h5>an interview with the development team</h5>Today, we talk with part of the team working with Revelator, one of our awesome customers, to understand the struggles, challenges, and joys of building a blockchain and cloud-based system that helps record labels, distributors, and music publishers manage their catalogs and assets.  <h5>Marek, you played a crucial role in this project, being a technical team leader and an advisor for the entire team. What’s your way of approaching those kinds of tasks?</h5>[Marek]: The first step towards a successful outcome is to ensure that you understand exactly what your customer needs. They might not describe it in technical jargon or be very specific at first, but after working with customers for as long as I have, you certainly get a grasp of how to communicate well. So, the first step is to understand the vision and then translate them into technical specifications. Also, at Rumble Fish when we commence a new project we like to bring added value by proposing new features, introducing tools that might perform better than the ones our customers are used to, and generally by being a partner, not just a software vendor. <h5>What were the key objectives and requirements of the development process with Revelator?</h5>[Marek]: Revelator’s team was looking for an IT partner to help them enhance their Web3 features. They needed a dedicated NFT tool and blockchain royalty payments mechanism. They also knew that they didn’t want to be dependent on just one chain, so we had to refactor their backend to be compatible with multiple EVM blockchains - at this point, users can choose between Binance, Polygon, and Ethereum Mainnet, and we’re working to onboard more.As for the NFT feature, the concept behind it was to enable record labels and music distributors to easily create NFTs to enhance fan engagement and introduce an additional revenue stream for music creators. So we wrote a set of smart contracts working together that transformed the digital art pieces into NFTs, listed them in the marketplace, and managed the process of purchasing them. <h5>Were there any significant challenges or obstacles you encountered during the project? If so, how did the team overcome them?</h5>[Marek]: When we first started, the codebase was a big monolithic API that we knew wouldn’t be able to perform on a bigger scale. What we had to do first, was to switch to microservice architecture and implement industry standards like AWS Lambdas, Subgraph, or separate different environments. It was quite a bit of work, but it paid off. Now the system is reliable, safe, and scalable.Another challenge was the issue of encouraging traditional Web2 users, not familiar with crypto and without crypto wallets, to also sell/buy and manage the NFTs. To tackle this issue our team created Smart Wallet. It’s a really cool piece of software that enables non-crypto folks to take full advantage of Revelator’s Web3 features. In <a href="https://www.rumblefish.dev/case-studies/revelator/">our case study</a>, we describe how it works in more detail.{{linkImage,Revelator Case Study}}<h5>
Kuba, can you provide an overview of the project and your specific role in it?</h5>[Kuba]: As Marek mentioned, it was a very broad and complex set of microservices, integrated with the blockchain layer. I was responsible for various backend tasks, focused on microservices, cloud, and blockchain integration. As a team, we had to separate multiple parts of a monolith and create proper communication between microservices, Web2, and Web3 parts. In order to do so we came up with a few unique and highly scalable ideas. One of them, called &quot;Operator Wallets&quot; makes it possible for operators like Spotify or YouTube to perform transactions on a blockchain without owning a crypto wallet. That makes the whole system more accessible and UX-friendly for potential clients. It’s a great solution, which we’re very proud of. The team and I created a swift, safe, and transparent system in which the microservices combined with other AWS cloud tools and smart contracts work seamlessly and are integrated with all the best practices in mind.

Revelator Case Study

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an interview with the development teamToday, we talk with part of the team working with Revelator, one of our awesome customers, to understand the struggles, challenges, and joys of building a blockchain and cloud-based system that helps record labels, distributors, and music publishers manage their catalogs and assets.

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Building a multichain Web3 system for the music industry

We’re beyond proud to announce that Rumble Fish joined Polish Blockchain Association as a member. It’s yet another blockchain community we’ve joined recently, the previous one being the Swiss-Polish Blockchain Association. <a href="https://bit.ly/rf-partners-pba">Polish Blockchain Association</a> was established in 2018 in an effort to drive knowledge and experience exchange in the area of blockchain technology in Poland, and also to establish international relations with global blockchain players. Rumble Fish, a first-choice blockchain development company in Poland, was a natural fit for the organization. Our partnership aims to explore, share, and exchange experiences in building blockchain-based projects, as well as discuss new concepts and ideas and establish new professional relations with fellow blockchain aficionados. Our knowledge of various blockchain protocols and experience in developing web3 and defi products enables us to be a trustworthy partner and advisor for companies who wish to jump on the blockchain bandwagon.At Rumble Fish, we are experts in custom blockchain development, defi &amp; fintech development, and smart contracts development. Our engineers are amongst the best blockchain developers you can find, due to their drive and constant training. As a company, we are always looking to expand our horizons, establish new connections, and exchange our knowledge with other industry experts. Being a member of the Polish Blockchain Association will allow us to do just that and to be even more active in the European blockchain market.

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We’re beyond proud to announce that Rumble Fish joined Polish Blockchain Association as a member. It’s yet another blockchain community we’ve joined recently, the previous one being the Swiss-Polish Blockchain Association.

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Rumble Fish joins Polish Blockchain Association

Blockchain technology has gone far beyond its original purpose of powering cryptocurrencies. Today, it has become a versatile tool that can be applied to a wide range of industries and use cases. Blockchain-based product development has entered a plethora of industries and has proven to be extremely helpful and efficient. In this article, we explore 10 unexpected industries that benefit from deploying blockchain. <h3>Decentralized Social Media Platforms</h3>Social media platforms have become an integral part of our lives, but they have also faced criticism for their centralized and data-hungry nature. Decentralized social media platforms built on blockchain technology offer an alternative approach, where users have control over their data and are incentivized for contributing to the platform. Examples include <a href="https://steemit.com/">Steemit</a> and <a href="https://www.minds.com/">Minds</a>.<h3>On-chain Voting Systems</h3>Blockchain-based voting systems have the potential to increase transparency and security in elections. Invaluable advantages of using blockchain technology in elections are that they can reduce the risk of tampering and fraud, and provide a more efficient and accurate way of counting votes.Voting systems built on blockchain can securely and transparently record and tally votes.  Each vote is recorded as a transaction on the blockchain, and each block of transactions is cryptographically linked to the previous block, creating an immutable chain of records. The system can be designed to allow only authorized people to cast their votes, and each voter can only do it once. Because of the transparency and security of the blockchain, the results of the vote can be publicly audited and verified, reducing the potential for fraud and ensuring the accuracy of the results. Blockchain-based voting systems also have the potential to reduce the cost and complexity of traditional voting systems, such as paper ballots and manual vote counting. A good example of an on-chain voting platform is <a href="https://www.agora.vote/">Agora</a>, which provides a secure and transparent voting system that benefits from using blockchain technology.<h3>Blockchain for Supply Chain Management</h3>Blockchain technology can be used to improve supply chain management by providing a transparent and secure way to track goods from their origin to their destination. The advantages of using blockchain in logistics are: reduced fraud, increased transparency, and ensured authenticity of products. One of the companies that saw a huge opportunity in deploying blockchain to manage their supply chain was Walmart. They have been one of the early adopters of blockchain technology in the retail industry. In 2018, <a href="https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-to-solve-supply-chain-challenges">Walmart announced implementing a blockchain-based system for tracking food products through its supply chain</a>. The Walmart Food Traceability Initiative system uses blockchain technology to track the movement of food products from farm to store. In addition to the food traceability initiative, Walmart has also filed several patents related to blockchain technology for the supply chain management. These patents include systems for managing product warranties, authenticating product information, and tracking the delivery of products. Other examples of utilizing blockchain in supply chain management include<a href="https://www.ibm.com/products/supply-chain-intelligence-suite/food-trust"> IBM&#39;s Food Trust</a> and Provenance. <h3>Digital Identity Management with blockchain</h3>Blockchain technology also provides a decentralized and secure way to manage digital identities. Digital Identity Management (DIM) with blockchain can help individuals and organizations to control their digital identities and provide secure access to their information.Blockchain-based DIM systems use a distributed ledger to record and store user data in an immutable and tamper-proof way. Each user has a unique digital identity that is verified and validated through cryptographic methods. This ensures that the user&#39;s identity is secure and cannot be forged. One of the key advantages of blockchain-based DIM systems is that they provide users with complete control over their identity data. Users can choose what information to share with third-party service providers and can revoke access at any time. Blockchain-based DIM systems can also streamline identity verification processes and reduce the risk of identity theft and fraud. With a secure and immutable ledger, it becomes much more difficult for bad actors to steal or manipulate user data. Examples of companies that take advantage of blockchain within the DIM industry are <a href="https://www.civic.com/">Civic </a>and <a href="https://veramo.io/">Veramo</a>.<h3>Blockchain-based Energy Trading Platforms</h3>Blockchain-based energy trading platforms have emerged as a promising solution to many of the challenges faced by traditional energy trading systems. These platforms leverage the decentralized and immutable nature of blockchain technology to create a more efficient and transparent energy trading process.One of the key advantages of blockchain-based energy trading platforms is their ability to facilitate peer-to-peer (P2P) energy trading. With these platforms, individuals and organizations can buy and sell energy directly to each other, without the need for intermediaries such as utilities or energy retailers. This can lead to more efficient pricing and reduce costs for both buyers and sellers. Moreover, these platforms can help to promote the use of renewable energy sources by creating a market for decentralized energy production. For example, individuals or businesses with solar panels or wind turbines can sell excess energy generated back to the grid through the platform.Several blockchain-based energy trading platforms have already been developed and deployed, and we also contributed to introducing the advantages of blockchain to energy trading with <a href="https://www.rumblefish.dev/case-studies/solar-generation-a-global-energy-online-trading-platform-mvp/">Solar Generation</a>. Other examples include <a href="https://www.powerledger.io/">Powerledger</a> and <a href="https://electron.net/">Electron</a>.<h3>Property Rights Management using blockchain</h3>Blockchain technology can be used to create a decentralized and transparent property rights registry, providing a secure way of recording and managing property rights. This can help reduce disputes and increase efficiency in property transactions. Using blockchain, a digital record of property ownership can be created, securely stored, and easily accessible to authorized parties. The advantages of using blockchain in this scenario are reduced fraud, corruption, and errors, which are common problems in traditional property management systems. It can also increase transparency, allowing all parties to see the history of a particular property.There are several companies that have already started using blockchain for property rights management, including <a href="https://propy.com/browse/">Propy </a>and <a href="https://ubitquity.io/">Ubitquity</a>. These entities are working to make the process of buying, selling, and transferring property faster, more efficient, and more secure using blockchain technology.<h3>Blockchain-based Cloud Storage Platforms</h3>The benefits of blockchain technology can be used to create decentralized cloud storage platforms, where users can securely store and share their data without relying on centralized providers. Unlike traditional cloud storage services, blockchain-based cloud storage platforms use a distributed ledger to store data across a network of nodes, which ensures that data is tamper-proof, immutable, and secure.One of the key advantages of blockchain-based cloud storage platforms is that they offer greater privacy and security. Unlike centralized cloud storage services, which are vulnerable to cyber-attacks and data breaches, blockchain-based cloud storage platforms use cryptographic methods to encrypt and secure data. This ensures that only authorized parties have access to the data.Another benefit of blockchain-based cloud storage platforms is that they can provide more affordable storage options. By leveraging a decentralized network of nodes, these platforms can reduce the cost of storing and sharing data.Several blockchain-based cloud storage platforms have already been developed, such as <a href="https://sia.tech/">Sia</a>, <a href="https://www.storj.io/">Storj</a>, and <a href="https://filecoin.io/">Filecoin</a>. <h3>Web3 Gaming Platforms</h3>Web3 gaming platforms, also known as blockchain gaming platforms, use blockchain technology to create decentralized gaming ecosystems that enable players to own, trade, and exchange in-game assets. These platforms provide a new way of playing and engaging with games, allowing players to participate in a more open and transparent gaming experience.The advantage of using blockchain in gaming platforms is that they enable players to truly own their in-game assets. These assets are represented as unique digital tokens on the blockchain, which means that players have complete control over them. This allows players to trade, exchange, and use their assets across multiple games and platforms.Additionally, web3 gaming platforms can provide new ways for players to earn rewards and participate in the game economy. Players can earn rewards for participating in game activities, such as completing quests, winning battles, or acquiring rare items. These rewards can be used to purchase in-game assets, which can be traded or used in other games and platforms.Several web3 gaming platforms have already been built, including <a href="https://axieinfinity.com/">Axie Infinity</a>, <a href="https://decentraland.org/">Decentraland</a>, and <a href="https://www.sandbox.game/en/">The Sandbox</a>. <h3>Blockchain-based Digital Art Marketplaces</h3>Blockchain technology can be used to create a transparent and secure digital art marketplace, where artists can authenticate and sell their work as unique digital assets. Blockchain has created a new era in the art world by providing an innovative solution to the long-standing problem of provenance and authenticity of art pieces. Digital art, in particular, has emerged as a thriving market in recent years, with blockchain-based marketplaces offering artists and collectors a new way to buy and sell digital artwork.Here are some popular Web3 digital art marketplaces:<ul><li><a href="https://www.niftygateway.com/">Nifty Gateway</a>: a popular marketplace for buying and selling limited-edition digital art and NFT collectibles. It uses the Ethereum blockchain to verify ownership and authenticity of art pieces and also offers a secondary market for reselling art.</li><li><a href="https://superrare.com/">SuperRare</a>: SuperRare is another popular NFT marketplace that uses blockchain technology to verify ownership of art pieces. It also uses a unique auction system, where collectors can bid on and buy exclusive, one-of-a-kind digital pieces.</li><li><a href="https://opensea.io/">OpenSea</a>: OpenSea is the largest decentralized marketplace for buying and selling NFTs, which are unique digital assets that can represent anything from digital art to virtual real estate. OpenSea supports a wide range of blockchain networks, including Ethereum and Polygon.</li><li><a href="https://rarible.com/">Rarible</a>: Rarible is an NFT marketplace that allows artists to create, sell, and collect digital assets. It offers a simple and user-friendly interface, as well as a unique governance token system that allows users to vote on platform upgrades and changes.</li><li><a href="https://knownorigin.io/">KnownOrigin</a>: KnownOrigin is a blockchain-based art marketplace that allows artists to sell their unique digital artwork as NFTs. It uses the Ethereum blockchain to verify ownership and authenticity of the pieces and also offers a range of features for artists, including royalties and commission fees.</li></ul>Overall, blockchain offers a plethora of advantages when it comes to buying, selling, and authenticating art. These Web3 marketplaces are likely to play an increasingly important role in the art world.<h3>Blockchain-based Microfinance Platforms</h3>What is more, the advantages of blockchain technology can be used to create microfinance platforms that enable peer-to-peer lending and borrowing, allowing people without access to traditional banking services to access credit. Microfinance is a type of financial service that provides small loans, savings, and insurance products to low-income individuals and businesses who lack access to traditional banking services. Blockchain technology has the potential to transform microfinance by providing a secure, transparent, and decentralized platform for lending and borrowing.Overall, blockchain-based microfinance platforms have the potential to revolutionize the way financial services are delivered to underserved communities around the world. By providing secure, transparent, and decentralized platforms for lending and borrowing, these platforms can help to reduce poverty, increase financial inclusion, and support economic development. Examples of such Web3 microfinance platforms include <a href="https://www.kiva.org/">Kiva</a> and <a href="https://humaniq.com/">Humaniq</a>.<h3>Conclusion</h3>Blockchain technology is a versatile tool with a whole range of benefits that can be applied to a wide variety of industries and use cases. From supply chain management to social media platforms, the possibilities are endless. As the technology continues to evolve, it will be exciting to see what other uncommon blockchain applications emerge in the years to come. If you&#39;re looking to build your own blockchain project, Rumble Fish Software Development can help. Our team of experienced developers can assist you in building a custom blockchain solution that meets your specific needs. <a href="mailto:hello@rumblefish.dev">Contact us today to learn more!</a>

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Blockchain technology has gone far beyond its original purpose of powering cryptocurrencies. Today, it has become a versatile tool that can be applied to a wide range of industries and use cases. Blockchain-based product development has entered a plethora of industries and has proven to be extremely helpful and efficient. In this article, we explore 10 unexpected industries that benefit from deploying blockchain.

Advantages of using blockchain in 10 unexpected industries

We’re proud to be recognized by Clutch once again! This time we’ve been acknowledged as a Top Web3 and Top Blockchain Company in Poland. It’s particularly important and valuable to us, as those are core areas of our expertise. <img src="https://strapi-uploads.rumblefish.dev/Images_for_blog_posts_9038d4570a.png" alt="Images_for_blog_posts.png" srcset="https://strapi-uploads.rumblefish.dev/large_Images_for_blog_posts_9038d4570a.png 1000w,https://strapi-uploads.rumblefish.dev/small_Images_for_blog_posts_9038d4570a.png 500w,https://strapi-uploads.rumblefish.dev/medium_Images_for_blog_posts_9038d4570a.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_Images_for_blog_posts_9038d4570a.png 245w," sizes="100vw" width="1000px">Since 2017 we’ve been involved in various blockchain-based software development projects for industry-recognized customers like <a href="https://www.rumblefish.dev/case-studies/makerdao/">MakerDAO</a> or <a href="https://www.rumblefish.dev/case-studies/the-ocean-a-cryptocurrency-exchange-platform-with-a-dedicated-team-of/">The Ocean</a>. Our development services in the Web3 area contain NFT platform development, NFT collections development, crypto exchange development, smart contracts development, and many more. It’s also crucial for us to keep our engineers up to date with the newest tools and technologies in the blockchain development industry - that’s why we constantly improve our skills and knowledge by attending blockchain-related events, external and internal training, and knowledge-sharing sessions. We are also proud to train our own blockchain developers in <a href="https://www.rumblefish.dev/blockchainhub/">a unique 4-week training course</a> designed by our CTO and blockchain connoisseur, Marek Kowalski. During the course, we share our invaluable smart contract, NFT, and crypto protocols knowledge with trainees to give them all the tools they need to become top-notch blockchain professionals. Rumble Fish delivers state-of-the-art blockchain development services to companies of all sizes - we have experience working with start-ups, mid-sized companies, and huge global corporations. Our strength lies in our passion for technology - RF engineers simply enjoy their job, combined with great communication skills - our customers can vouch for that! We understand the intricacies of blockchain development and know the technology which makes us a perfect partner and advisor in any Web3 endeavor.

We’re proud to be recognized by Clutch once again! This time we’ve been acknowledged as a Top Web3 and Top Blockchain Company in Poland. It’s particularly important and valuable to us, as those are core areas of our expertise.

Rumble Fish recognized by Clutch as Top Web3 and Top Blockchain Company

Although decentralized marketplaces have experienced a hiccup or two in recent months, the foundation for blockchain-based applications is quickly expanding. According to<a href="https://www.blockdata.tech/blog/general/the-top-100-public-companies-using-blockchain-in-2022"> Blockdata</a>, 44 out of the top 100 public firms in six key industries currently use blockchain in some capacity. These corporations range from massive financial institutions like Bank of America to companies like McDonald&#39;s and Walmart. But how can the blockchain industry get more than those 44  organizations to join?A <a href="https://www2.deloitte.com/insights/us/en/focus/signals-for-strategists/emergence-of-blockchain-consortia.html#endnote-7">Deloitte study</a> showed that out of executives who are familiar with blockchain, 18% are already part of an enterprise blockchain consortium, 45% are likely to join, and 14% are considering forming one.Attention-grabbing cryptocurrency headlines tend to hide the potential of blockchain, its underlying technology. But a signal is emerging among the noise, hinting at the massive ramifications of the new technology and its potential to produce ground-breaking applications. This attracts the attention of other business executives from a variety of industries thanks to the leadership of blue-chip technology and financial firms like IBM, Microsoft, Bank of America, and Barclays. What does the rise of blockchain imply for the banking sector and enterprises in general? Let’s take a closer look at how blockchain-based applications and products are disrupting the enterprise space today.<h2>Crypto transactions and products at the enterprise level</h2>Cryptocurrency transaction costs have been a big barrier to entry since the emergence of crypto exchanges. There is already ample evidence showing that these fees are deterring newcomers from joining. This issue touches on the crucial tenet of blockchain-based applications: decentralization. High fees go against it since, as demand increases, miners prioritize transactions with the highest fees. Many are turned off by higher costs because they’re unable to pay them. This is just one of the many issues that inspire enterprises to question whether it is worthwhile to enter the market. The leaders in the cryptocurrency industry are aware of this, and efforts are already being made to reduce expenses. Rollups are one of the alternatives that have gained traction; they function by grouping transactions and processing them outside of the layer 1 network. More and more systems adopt sharding, which guarantees that each transaction takes up less space. Some newly developed trading systems enable transactions with no fees. <h2>What makes an enterprise crypto project successful?</h2>Top decision-makers might be more likely to implement crypto solutions if the user experience is great and the barrier to entry is low. There’s no denying that blockchain is a jargon-heavy business, which many might find difficult to understand. Instead of concentrating on explaining the technology in detail, solution creators should put user requirements first, using a universal, easy-to-understand language.Another issue is a lengthy onboarding procedure, which might easily discourage a business decision-maker who doesn’t have much free time available. Crypto initiatives need to simplify the onboarding flow and quickly fix any errors. Finally, there’s the matter of transactional speed. Despite the fact that blockchain technology is continually expanding, we see reports of slow transaction rates — slower than those of conventional financial institutions. It’s essential that crypto initiatives let consumers know how long a certain procedure will take using countdown clocks and reassure them that everything is operating correctly. Enterprise product owners need to be aware that emerging blockchains such as Solana, Fantom, and Cardano increase transaction speed significantly.<h2>Regulations are a key consideration</h2>The implementation of blockchain technology continues to be hampered by regulatory complexity. Both regional and federal governments have indicated an interest in regulating the cryptocurrency market over the last several years, but they frequently run into obstacles due to the ecosystem&#39;s complexity. Most countries have by now released some crypto-related legislation, often based on more general financial rules already in place.The way different countries handle crypto varies greatly. Some have even gone so far as to declare cryptocurrency trading a legitimate activity. Others have let cryptocurrency platforms operate without a license but have not provided authorities with a comprehensive model.However, clear legislation is bound to encourage the acceptance of cryptocurrency, as potential adopters would feel safer managing their assets in licensed institutions. Some experts believe that centralized exchanges must lead any legislative reform before the rest of the ecosystem can follow. This would make it possible for business customers to enter the crypto realm safely. Bermuda and Liechtenstein are examples of nations where centralized cryptocurrency exchanges collaborated with local authorities to enact favorable rules.<h2>Real-world enterprise blockchain applications</h2><h3>Supply chain transparency</h3>To be competitive, manufacturing businesses rely on extensive, worldwide supply networks. Quality assurance and traceability are crucial objectives, particularly with items that directly affect the health and safety of customers. As businesses grow, their supply chains become more complex, often relying on a sizable supplier base and several handoffs before components reach their facilities.Numerous examples demonstrate the negative effects of opaque supply chains. A 2015 e.coli outbreak at Chipotle affected 55 customers, forced the restaurant&#39;s closure, and resulted in the loss of $8 billion in stock value in only three months. Due to a defective gas pedal, Toyota had to recall 4 million vehicles in 2009, which caused a $2 billion revenue loss and a 15% decline in the share price.Even if Chipotle and Toyota&#39;s disasters couldn&#39;t have been avoided, root cause analysis may have taken less time, money, and effort if blockchain had been used. Both companies could have avoided expensive recalls if they had used blockchain to keep track of their supply chains and quickly find the companies that made the defective products. <h3>Example case study: Walmart </h3>Walmart’s blockchain application enhances the transparency of its Chinese pork supplier. Setting the groundwork for their blockchain experiment was a recent recall of 100,000 tons of tainted Chinese goods, followed by Walmart&#39;s global initiative to enhance food safety. The company used Hyperledger to connect the digital records of each RFID-tagged animal to the blockchain in collaboration with IBM and Tsinghua University. The application showed all partners in the supply chain, the chain of custody for each animal by keeping track of important information like the farm where the animal came from, the batch number, the factory and processing data, the expiration date, the storage temperature, and the details of the shipment.The pilot&#39;s blockchain program allowed the enterprise to confidently confirm whether a product is genuine and safe, and when it expires. The company knows which items to recall and which may be safely left on the market in the event that a farm or factory has a food contamination concern.<h3>Faster financial transactions for trading</h3>Trade finance provides a particularly attractive use case for blockchain technology since it’s typically document-intensive and dependent on bank middlemen. Trade finance is significant for enterprises participating in complicated transactions with substantial counterparty risk. Trillions worth of products cross international boundaries each year, which is made possible by trade finance in the form of credit, insurance, or guarantees. Trade finance includes a range of actions intended to reduce risk between trading partners, particularly those who haven&#39;t traded before. For example, the letter of credit guarantees that the seller will be paid when the items are received, especially if the buyer experiences financial difficulty. The intricacy of a typical trade finance transaction is shown by a sample trading situation and the necessary paperwork and cash flows.Global corporations&#39; treasury divisions oversee these transactions using centralized and ineffective procedures. One of the most important international banking networks, SWIFT, alone facilitates 40 million transactions a year between counterparties.In contrast to that, blockchain technology enables a rapid flow of payments, reduces costs and risks (credit and liquidity), and increases process transparency. These solutions give the corporate treasurer more peace of mind and more time to focus on activities that add value instead of dealing with the hassles of settlement and reconciliation that come with older systems. <h3>Example case study: Bank of America, HSBC, and IDA</h3>Bank of America collaborated with HSBC and the Infocomm Development Authority of Singapore (IDA) to use Hyperledger for streamlining and accelerating the trade financing process. All participants in a trade finance transaction can communicate information on a permissioned ledger rather than sequentially transferring letters of credit as trade partners currently do. When an importer publishes a letter of credit to the ledger, a series of conditional events occur that are all automatically recorded on the blockchain and lead to a completed deal.The pilot initiative demonstrated blockchain’s potential to automate the manual processing of import/export documentation, enhance security by lowering errors, improve convenience for all parties through mobile interaction, and increase the predictability of companies&#39; working capital.<h2>What does the future of business crypto hold?</h2>When it comes to enterprise adoption, blockchain applications are still in their infancy, as evidenced by the number of newly formed consortiums and enterprise pilot programs.Undoubtedly, companies from all industries will continue utilizing blockchain technology in 2023. Business executives are aware of the advantages that blockchain technology can provide, from accelerating the introduction of new goods to enhancing supply chain network transparency.  As businesses build on such early achievements, the examples we mentioned above are likely to chart a line of rapid expansion over the next few years. And take-up rates are probably going to increase exponentially if we see lower transaction costs, better user experiences, and new regulations.<h2>Wrap up</h2>Similar to the PC or internet, blockchain carries the potential to revolutionize enterprises, allowing for a step-function increase in productivity and revolutionizing transactional processes between people, businesses, and governments.Blockchain is on its way to significantly altering ownership, transparency, and security for shared records like contracts, increasing the records&#39; value and the processes they regulate. Technology has changed the way people think about trust by making it about a shared record or contract. This has opened the door to another change in banking and other business sectors.

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Although decentralized marketplaces have experienced a hiccup or two in recent months, the foundation for blockchain-based applications is quickly expanding. According to<a href="https://www.blockdata.tech/blog/general/the-top-100-public-companies-using-blockchain-in-2022"> Blockdata</a>, 44 out of the top 100 public firms in six key industries currently use blockchain in some capacity.

Blockchain for Banking and Enterprises

Serverless computing is gaining steam, so you’re bound to wonder what makes it better than other cloud-based back-end models. It’s not like serverless doesn’t use servers at all - it does, but the developer is not responsible for handling them. Today, you can outsource this to a cloud vendor and focus on mission-critical activities like building new features. This is one of the top reasons behind the rise of serverless computing.So, what makes serverless computing so appealing? In this article, we compare server-based vs. serverless computing models, explore their benefits and drawbacks, and evaluate when it is best to employ one or the other.<h2>Serverless model - what is it and how does it work? </h2>Serverless computing is a type of cloud computing where the backend or infrastructure of your application is controlled by the cloud service provider. The term might be a bit misleading because it implies that no servers are involved in the process at all. But you almost always need a server, and in this case, you don’t need to manage it. Serverless applications use virtual server resources to scale on demand. The approach allows developers to focus on writing code rather than maintaining and handling servers. The entire responsibility for the complex and time-consuming server administration activities lies with the cloud vendor. <h2>Pros of serverless computing </h2><h3>Reduced costs </h3>Server provisioning and management can quickly get expensive. Based on the pay-as-you-go model, serverless architecture has become a popular alternative for many teams. It makes sense to only pay for the server resources that your business really uses, right? When you must provide your own servers, you’re likely to pay for more computing power - and get more of it than you actually need. Moreover, when handling servers on your own, you always need to be prepared for a sudden surge in server demand. This leads many companies to invest in more resources than they need and overprovision their applications just in case.  Serverless computing, on the other hand, uses automated scaling - so, when demand increases, your company gains access to capacity that matches the current demand as well as its future fluctuations. <h3>Greater developer productivity </h3>Serverless enables developers to create apps without having to design, configure, and manage the underlying infrastructure. Because of this, teams have more time to work on innovative technological solutions and make user experiences that are more immersive. By removing time-consuming infrastructure maintenance duties, serverless systems boost developer productivity. Just think about all the things your development team could do if its members had more time to focus on functionality and app design. Serverless lets you leave all of the time-consuming infrastructure maintenance responsibilities to the cloud vendor and spend more time developing state-of-the-art products. <h3>Faster time to market </h3>A more productive development team helps you get your software to market faster. And we all know that being the first product to market builds a massive competitive advantage. Your company&#39;s app can hit the market faster because developers won&#39;t have to spend time managing and maintaining the infrastructure underneath it.<h2>Challenges of serverless computing </h2>That said, serverless computing comes with its unique challenges that might become serious drawbacks if your devs team doesn’t know how to set it up. Gaining a competitive edge with serverless computing requires understanding, predicting, and planning for these potential obstacles. <h3>Delays </h3>Serverless computing accelerates application development, but the framework itself might cause delays. To understand why, we need to look at response latency - the time between a request and a response from the application. Serverless cloud computing shuts down between queries, and starting with inactive serverless code might delay the response. Spin-up and code processing can take a few seconds, which could be a problem if your app needs to work quickly. Still, Netflix and Prime Video on Amazon use serverless because AWS tools let them slash the delay to the minimum. These examples show that the choice of the right tools eliminates the risk of delays successfully.<h3>Expert team is required</h3>
Serverless is an approach deeply rooted in the toolkit of a particular cloud service provider. To develop optimal applications, you need a specialized team that has in-depth knowledge of that vendor’s serverless offer.<h2>Serverless providers: an overview </h2>Amazon Web Services (AWS), Google Cloud Platform, and Microsoft Azure dominate the serverless industry. Each vendor provides a variety of services and virtual machines, but AWS is the industry leader since it offers the greatest number of options. AWS Lambda is the most popular serverless service.  There are, of course, alternatives to the top three providers. IBM Cloud is another major serverless service provider with which organizations collaborate. One thing to be careful about here is vendor lock-in. Since your company will not have the physical gear to supply computer resources for the back-end of its application, it’s all too easy to employ the same vendor for all services. The more services you add, the harder it is to switch providers - and the more vulnerable your applications are to vendor issues such as outages. However, an experienced team knows how to eliminate this risk.<h2>Server computing models - what are they? 
</h2>Server computing is basically any type of computing that involves the provisioning and management of a server. That server can be located on-premises in a data center or in the cloud as a virtual machine. Things may get a bit complicated since cloud providers also offer serverless solutions. If you look at Amazon Web Services, a serverless service is AWS Lambda, while products like EC2 offer server-based computing.Cloud computing delivers technological resources and services over the internet - and server administration is one such service. Others include storage, the underlying operating system, software, and networking. By using servers in the cloud, organizations can use services on demand, become more flexible, and lower their IT operational costs. <h2>Pros of server computing</h2><h3>Greater control</h3>Cloud-based virtual machines are maintained by the vendor, but you’re the one who has the power to manage and scale them. You can choose from a lot of different options and find VMs that give you the performance you need at the best price. This is a good way to keep your infrastructure costs as low as possible.<h3>Enhanced security</h3>This topic is frequently brought up when discussing servers vs. serverless. Considering the increase in frequency and severity of data breaches and hacker attacks, data protection is a key component of any IT activity. And serverless has a wider attack surface than server computing.<h2>Challenges of server computing  </h2>Provisioning and managing virtual machines take a lot of your valuable time. And when your cloud footprint grows, you’re bound to see your engineers spend lots of time managing the infrastructure. The time it takes to properly configure your cloud infrastructure directly translates into costs. <h2>When to use server-based computing? </h2>If you have internal resources for managing the cloud infrastructure and need to have more control over the virtual machines used by your applications (for example, via services such as dedicated hosting), server-based computing is a good choice.  <h2>When to use serverless? </h2>Scalability is one of the main advantages of serverless computing. Serverless is a great option for teams that anticipate growth and need a setting that can accommodate the changing demands.<h2>Wrap up </h2>Serverless is an alternative to cloud-based service computing that saves time and money by letting developers focus on writing code instead of managing servers. Serverless computing is likely to see its usage grow in the future. If you’d like to check if your application requirements are a good match for serverless, our experts can help you create a software development strategy with the serverless architecture in mind. Get in touch with us to stay on top of this growing trend and prepare your application for the future.

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Serverless computing is gaining steam, so you&#39;re bound to wonder what makes it better than other cloud-based back-end models. It&#39;s not like serverless doesn&#39;t use servers at all - it does, but the developer is not responsible for handling them. Today, you can outsource this to a cloud vendor and focus on mission-critical activities like building new features.

Serverless vs. Server Computing: Detailed Comparison

In one of our previous posts, we described how to build an app without servers and used <a href="https://tryquiet.org/">Quiet </a>as a perfect example. Today, we talk with Holmes Wilson, the Founder of Quiet, to divę into the topic of mesh infrastructure, peer-to-peer apps, and internet freedom a bit deeper.You’re the co-founder of both Fight for the Future and Quiet. Let’s start with the former. Can you please tell us more about its goal?We started <a href="https://www.fightforthefuture.org/">Fight for the Future</a> because we saw an opportunity to change the course of the laws and policies that affect the internet and to guide the development of the internet in a better direction by engaging large numbers of people in the process through which those laws and policies get made by organizing large scale activism campaigns. And so the first thing we did at Fight For the Future was that there were two proposed laws or bills in the US that would have would have given any copyright holder including some of the big media companies the power to essentially censor any site on the internet in the United States. Those laws were written so broadly that sites could be censored not just for stuff that they posted, but even for content posted by users. So a single copyrighted photo or a meme or a video of someone singing a song, you know by a pop star that was technically under copyright could have potentially been grounds for taking down an entire site like Reddit or Tumblr or Twitter, for example. So it was these laws would have really damaged the development of the internet because they would have made it so that the sites people love to just be taken down randomly and then in order to defend themselves against that prospective user sites that allowed users to post things would have had to become so strict about what users posted that you wouldn&#39;t be able to have the kind of open spaces for expression and discussion that are what the most fun part of the internet. So we organized people to fight these laws in the US by giving them tools they could use on their websites to join in protests and organizing a day of protests where people would all take some step to alert the world about the fact that this was happening and then to get people to call their members of Congress in the US.<img src="https://strapi-uploads.rumblefish.dev/DSC_04499_212e7ffa05.jpg" alt="DSC04499.jpg" srcset="https://strapi-uploads.rumblefish.dev/large_DSC_04499_212e7ffa05.jpg 1000w,https://strapi-uploads.rumblefish.dev/small_DSC_04499_212e7ffa05.jpg 500w,https://strapi-uploads.rumblefish.dev/medium_DSC_04499_212e7ffa05.jpg 750w,https://strapi-uploads.rumblefish.dev/thumbnail_DSC_04499_212e7ffa05.jpg 180w," sizes="100vw" width="1000px">So the first step is to create awareness of the threatening policies to come, and then let people know how they can fight back?Yes! Usually what we would do is find a way to explain these issues which are often very complicated in a way that people would be able to understand and then motivate people to take some kind of action to do something and give them an action that they could take, whether they were a website or an individual or a business or whatever, give them something meaningful they could do that actually exerted some kind of power over the system that had a plausible chance of actually achieving the result people wanted. If you can explain an issue to people in a way that&#39;s clear and meaningful to them and give them a path and motivate them to move down that path together, then you can achieve really surprising victories In this case in the US these bills were proposed for internet censorship and they had the support of some of the biggest lobbies in the US - drug companies, large movie or music production companies, even some tech corporations. The drug companies&#39; angle was they wanted to be able to censor websites that were selling generic medicines from countries outside of the US.But the problem is whenever you start down that road, there are all kinds of collateral damage that you&#39;re doing because you&#39;re building a censorship machine that could get used for all kinds of things and it&#39;s unpredictable what it will get used for. So despite these bills having massive support from these huge industry lobbies that were extremely well connected and they have the support of both parties and everyone expected the bills to sail through, we were able to organize the part of the public that really understood and cared about the internet to stop these bills alongside organizations and tech companies and public intellectuals and this whole raft of voices. Because we were able to organize them so well, we stopped the bills, and not only do we stop the bills, but we stopped them so effectively that they never came up again. And we made the idea of censoring the internet in that way so unpalatable that 13 or 11 years later still has not come up again.Okay, censorship is one thing but what are other threats that come with the development of the internet?Another big issue we worked on was net neutrality. Which is a set of policies that guarantee that the companies or institutions providing your internet access do not have the power to decide what sites you visit, what apps you use, and what apps work. This was a fight both in the US and the EU where internet providers like telecom companies and cable television companies wanted to be able to make some sites go faster than others and charge websites or app developers for the privilege of being one of those non-throttled.Another thing that they wanted to do was to be able to block competing services. For example, if a cable company has an internet television service they might want to make that work really well and at the same time, make let’s say Netflix work poorly. In the US cable providers were intentionally not upgrading the routers and or the interconnection points that were serving traffic from Netflix just to let Netflix service degrade in order to push people to use their services that they made money off.To give you another example, when Facetime first came out for the iPhone, the mobile operators in the US said ‘okay fine but you can&#39;t use that on our networks’. And they blocked Facetime and they also blocked Skype for a while because it was over the internet and they wanted people to use phone minutes and not use internet calling.So we were able to get strong net neutrality rules in the US and then later and we helped with the effort in the UE. And the net neutrality rules in the EU are actually now better than the ones in the US.It all ties in with what you guys are doing in Quiet. Let’s talk about this a bit.So Quiet is a peer-to-peer communication app that syncs messages between users directly, there is no need for a server, we’re using Tor instead. What Quiet does is it lets people control their own data and communicate and work together without depending on a server at all. We build private networks for people in a given community which could be a workplace, it could be a group of friends or it could be some type of organization, or just some type of online or offline community.We create a private network for them where their devices are connected to each other&#39;s devices. We connect those devices together over Tor and then we use some cool technology from a project called IPFS and OrbitDB to sync all the data relevant to their communication and collaboration between their devices in real time. And so for example when you&#39;re in a quiet community and you send a message it&#39;s getting added to a database and it&#39;s getting broadcasted out to the devices of other people in your community.Quiet is an example of a local first and peer-to-peer app and I think this approach is going to become the new open source.You decided to build Quiet with Rumble Fish’s team. Can you tell me a little bit about our cooperation?We&#39;ve been working together since the very beginning of 2019 or the end of 2018. And at the beginning when we started, it was kind of a research project of mine where I wanted to make progress on it, and investigate, but I wasn&#39;t working on it full time. And when we were in that mode, my relationship with Rumble Fish was very much like, okay, this is a dev team. But over the past few years and this has happened in some leaps, but mostly just gradually it&#39;s become more like we&#39;re a team working together and I&#39;m working on this full time. I&#39;m the product manager and in more of a full-time founder role and then Rumble Fish is a team of colleagues and the management team., They are very technical and bring senior-level development guidance. They are also being a technical adviser to me in terms of what decisions make sense or don&#39;t make sense at different stages in the project.To get a closer look at what we’re building together with Holmes,<a href="https://www.rumblefish.dev/case-studies/a-tale-of-a-decentralized-communication-app-development/"> see our case study</a>.

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In one of our previous posts, we described how to build an app without servers and used <a href="https://tryquiet.org/">Quiet </a>as a perfect example. Today, we talk with Holmes Wilson, the Founder of Quiet, to dive into the topic of mesh infrastructure, peer-to-peer apps, and internet freedom a bit deeper.

“Local-first approach is the future of software” - an interview with Holmes Wilson

Why should you care about serverless architecture when the industry is buzzing with new approaches all the time? There are a couple of reasons why the serverless framework is a serious disruptor in software development. Serverless quickly delivers direct business value. By letting developers concentrate on what they excel at, you can boost their productivity and happiness. The technology also comes with a beneficial pricing strategy - cloud providers charge you for the execution time, as opposed to the 24/7 server maintenance cost in traditional architectures. Serverless architectures are on the rise, but how are companies implementing them? Keep reading to discover inspiring real-world applications of serverless and how to get started. <h2>Quick recap: how does a serverless architecture work?</h2>Serverless is an application delivery architecture where a cloud provider intercepts user requests and compute events to dynamically distribute and scale compute resources, helping teams to execute applications without installing, configuring, monitoring, or maintaining server infrastructure. Serverless opens the door to developing applications that are:<ul><li>hostless - apps aren’t hosted on a server, </li><li>stateless - interactions and data are not stored, </li><li>elastic - resources are scaled up and down without any restrictions, </li><li>distributed - you can connect many services for seamless operation, </li><li>event-driven - resources are allocated only when triggered by an event.</li></ul>Here’s a typical serverless application flow:<ul><li>The engineer creates an application with a function that determines how it responds to specific user activity. Cloud service providers offer pre-packaged FaaS solutions to help in writing code thanks to pre-built backend pieces.</li><li>Next, the developer specifies a function event. It describes how and when the function will be triggered. When a user starts an HTTP request, the application may want to fetch and provide specific data. This &quot;if-then&quot; mechanism is an event.</li><li>Now it’s time to deploy the application and make it available to users. Sooner or later, the event is triggered by a user action.</li><li>The application communicates the event to the cloud provider, which dynamically allocates the resources required to respond to the action in line with the preset function.</li><li>The function returns the data or any other output to the user.</li></ul>
This flow clearly shows why serverless is so cost-efficient. When the application doesn’t receive any user requests, the cloud provider won’t assign any resources to it and no data will be stored in any interim stage. This guarantees that up-to-date data reaches the user keeping your application real-time while saving storage expenses.<h2>8 real-world serverless examples that showcase its benefits</h2><h3>1. Coca-Cola&#39;s smart vending machines powered by IoT</h3>In 2016, Coca-Cola converted to serverless and cloud-based vending machines called Freestyle, which led to thousands of dollars saved annually. Customers can order a drink, pay online, receive their order, and get a confirmation message on their mobile phones using the company&#39;s smart vending machine. 
Coca-Cola Freestyle underwent an AWS Properly-Architected Review <a href="https://aws.amazon.com/solutions/case-studies/coca-cola-freestyle/">following a successful prototype in April 2020</a>. The prototype was made available to customer testing sites in early June, and the web app was made public a month later. Within 100 days of conceptualization, 500 machines were running the new web app by mid-to-late July, and 10,000 were operating by the end of August. Before transitioning to serverless, Coca-Cola paid roughly $13,000 per machine annually. Serverless deployment reduced that bill to $4,500, cutting roughly 66% of the cost. During the pandemic, Freestyle systems handled roughly 80 million queries per month via a completely touchless experience (way beyond the 30 million projected).<h3>2. Equinox Media&#39;s serverless infrastructure and analytics</h3>As shown in the 2020 AWS re:Invent talk &quot;Serverless analytics at Equinox Media: Handling expansion during disruption,&quot; Equinox Media <a href="https://www.techtarget.com/searchcloudcomputing/feature/Learn-from-these-real-world-AWS-serverless-examples">launched a new fitness service VARIS</a> and a stay-at-home SoulCycle cycle using a data lake strategy and serverless resources.
Equinox designed these solutions from the bottom up, using Amazon Kinesis for real-time data streaming, AWS Lambda for event-driven architecture, AWS Glue for data loading, Amazon DynamoDB for data storage, and Amazon Athena for data analysis.Equinox went down the serverless road for its scalability and low cost. When dealing with a dynamic use pattern, serverless is more cost-effective as it eliminates the need to predict and build infrastructure that may not be used. VARIS depends on machine learning suggestions to drive its user experience, so serverless was the ideal match for data analytics. <h3>3. Major League Baseball Advanced Media and real-time data updates</h3>Major League Baseball is one of the US’ biggest and oldest-running professional sports leagues. Statcast, a product of MLBAM, offers customers accurate and real-time sports stats. You can carry out complicated searches on the Statcast website based on variables like pitch velocity, pitch type, season type, and individual player names. The service delivers accurate data and guides the analysis of baseball games by utilizing serverless computing.<h3>4. BMW event-driven analytics</h3>
Global enterprises such as BMW often struggle to preserve and consolidate all of the data they obtain. BMW&#39;s ConnectedDrive backend server handles approximately 1 billion car requests every day. Whether in Germany or Japan, analysts require access to this data for modeling or use cases. To address this demand, <a href="https://www.techtarget.com/searchcloudcomputing/feature/Learn-from-these-real-world-AWS-serverless-examples">BMW developed Cloud Data Hub</a> - a centralized data lake that collects, orchestrates, and analyzes data. The solution is used by BMW&#39;s worldwide IT organization, as well as data scientists and analysts who create use cases and machine learning models.
BMW ingests data via AWS Glue and Kinesis Data Firehouse, organizes it with Amazon S3 and Glue, and analyzes it using Amazon SageMaker, Athena, and Amazon EMR. Such a multi-tiered account structure implies that each data producer or consumer has their own AWS account – a total of over 500. <h3>5. Autodesk&#39;s fast application development and deployment</h3>
Autodesk develops cutting-edge software for the construction, design, and engineering sectors. It recently released a tool called Tailor, which allows businesses to swiftly build custom Autodesk accounts with all of the necessary specifications. Autodesk was able to launch Tailor in only two weeks by <a href="https://aws.amazon.com/solutions/case-studies/autodesk-serverless/">utilizing a serverless architecture</a>, with only two FTEs accountable for the solution. The company quickly achieved its aims of saving time, lowering costs, and enhancing security by building Tailor on the AWS serverless platform.Before Tailor, the cost of provisioning an account was around $500 in staff time. With Tailor, it&#39;s around $6 per account, meaning Autodesk can generate almost 10 times as many accounts for the same cost. AWS Lambda and a serverless design reduce the operational costs of installing security updates and maintaining configuration management of the servers too, leading to other cost savings. <h3>6. Dynamic and responsive Slack chatbots</h3>
Serverless works well for single-function applications such as chatbots that receive many requests of various complexity. Since chatbot user demands are unexpected, allocating a static server to them may result in underused bandwidth or a capacity crisis. As a result, Slack employs a serverless, cloud-based architecture based on AWS Lambda.<a href="https://thorntech.com/serverless-slack-chatbot/">Thorn Technologies</a> shared an interesting example of a serverless Slack chatbot the company developed for easier settling up of team lunches. The team used a spreadsheet and updated it manually. But this approach turned out to be error-prone and unscalable, so the team developed the &quot;iowe&quot; chatbot that adds a Slack slash command to the virtual chip system. <h3>7. Netflix&#39;s scalable on-demand media delivery</h3>Netflix has long advocated for serverless computing. The company has been using serverless from 2017 and prior, building a platform capable of handling thousands of modifications every day. The serverless architecture at the heart of <a href="https://dashbird.io/blog/serverless-case-study-netflix/">Netflix&#39;s unique Dynamic Scripting Platform</a> handles real platform modifications, provisioning, and end-user delivery.Publishers submit hundreds of files to Netflix every day. Each file needs to be encoded and categorized before being broadcast to the consumer. When files are uploaded to S3, Amazon initiates an event calling an AWS Lambda function, which breaks the movie into 5-minute pieces encoded into the 60 parallel streams required by Netflix. Once the last segment of the video gets analyzed, it’s aggregated and disseminated using a set of rules and triggers.Netflix also makes use of AWS Lambda for its backup mechanism and to ensure that every single instance is built and configured in compliance with the system&#39;s rules and regulations. <h3>8. IDEXX&#39;s data-driven clinical decision-making </h3>IDEXX is a global corporation that produces animal husbandry, water, and dairy-related products. <a href="https://cloud.google.com/customers/idexx-laboratories">VetConnect PLUS</a>, the company&#39;s latest solution, was launched using Google serverless technologies. It retrieves diagnostic summaries from over 1 billion test results across 30,000 veterinary offices globally. The product can hold 30 TB of data and save up to $500,000 in annual IT expenditures because of the serverless design.IDEXX also aims to consolidate data collected across its offerings and mine it for insights. <a href="https://aws.amazon.com/solutions/case-studies/idexx/">AWS lets the company iterate</a> on its data-lake architecture to find the best solution for analyzing massive data volumes: over 250 million pets, 6 billion invoice items, and 600 million medications on file.<h2>How do you get started with serverless?</h2>What are the key tools that help teams put together a smoothly running serverless application?Serverless frameworkThe framework brings a standard abstraction layer to developing serverless solutions on top of major cloud service providers. It comes with additional CLI tools to enhance the developer experience like monitoring, secrets management, testing tools, and more. Serverless offerings from the top three cloud providers<ul><li><a href="https://aws.amazon.com/lambda/">Amazon Web Services (AWS) Lambda</a> — The most well-known service for building serverless apps.</li><li>Google Cloud Platform — Look for <a href="https://cloud.google.com/functions/">Cloud Functions</a> and <a href="https://cloud.google.com/run/">Cloud Run</a>.</li><li><a href="https://azure.microsoft.com/en-us/services/functions/">Microsoft Azure Functions</a></li><li><a href="https://workers.cloudflare.com/">Cloudflare Workers</a></li></ul>You can also go for open-source, self-hosted solutions:<ul><li><a href="https://kubeless.io/">Kubeless</a></li><li><a href="https://www.openfaas.com/">OpenFaaS</a></li><li><a href="https://openwhisk.apache.org/">Apache OpenWhisk</a></li></ul><h2>Wrap up</h2>Serverless is evolving at a breakneck speed, with cloud providers regularly launching new products and addressing new use cases. The main issue around this approach is the ability to deliver full-scale, multi-function systems using this technique. Trying to orchestrate the atomic deployment of every element of such complicated meshes is a real DevOps challenge.Serverless architectures are ideal for creating lightweight, flexible apps that you can swiftly scale or upgrade. If reducing your go-to-market time matters to you, serverless is a good choice. The same goes for projects that demand lots of computing power in a short period of time, with peak periods alternating with calmer periods. Examples include data integration pipelines and machine learning model training. Stateless operations like email senders and push notification agents are a great use case for serverless as well. At Rumble Fish, we’re fluent in AWS Cloud tools and know how to build serverless products from scratch. See the scope of our AWS expertise <a href="https://www.rumblefish.dev/services/aws-cloud-solutions/">here</a>.

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Why should you care about serverless architecture when the industry is buzzing with new approaches all the time? There are a couple of reasons why the serverless framework is a serious disruptor in software development. Serverless quickly delivers direct business value.

What Are Serverless Examples? 8 Real-World Use Cases Of Serverless Technology

Decentralized finance (DeFi) is undergoing constant evolution triggered by dynamic changes in global economies, new regulations, and changes in the technological landscape. Current financial regulations were crafted based on the idea of separate financial jurisdictions, so DeFi’s borderless transaction capabilities present a challenge to this type of regulation.Many businesses and consumers who assess DeFi products are worried about who would investigate a financial crime that happened across borders, protocols, and DeFi apps. What would enforcing the regulations look like in this context? These issues arise together with other concerns around system stability, energy requirements and carbon footprint, system upgrades or maintenance, and possible hardware failures.
Add to those recent PR fiascos like the collapse of FTX, and you can see why many start doubting whether DeFi and blockchain have a solid place in the future of financial services.  Despite the FTX story, DeFi has a bright future ahead of it. We’re seeing several exciting initiatives taking place in the blockchain world, with work carried out around digital ledgers, new blockchain solutions for pricing carbon emissions, and the rapidly expanding world of Web 3.0. This makes blockchain and its DeFi applications likely to become even stronger. Keep reading to learn more about DeFi’s advantages over Centralized Finance and why its future is brighter than you may expect.<h2>What does Decentralized Finance (DeFi) do exactly?</h2>Decentralized finance (DeFi) refers to a cluster of applications, services, and approaches that aim to replicate certain functions of the traditional financial system in an open, decentralized, permissionless, and autonomous way, based on blockchain. As any distributed ledger technology (DLT)-based application, DeFi promises to offer efficiencies driven by automation and disintermediation coming from blockchain and smart contracts. At the same time, DeFi gives rise to several risks for markets and their participants and calls into question the actuality of the current financial regulations.An increasing number of investors are looking for opportunities that bring high returns, leading to an increase in the popularity of crypto-assets. The growing application of DeFi and its increasing interconnectedness with traditional markets presents an urgent challenge for policymakers seeking to maximize DeFi’s potential efficiencies while managing risks. According to OECD, stablecoins issued by the largest issuers exceeded <a href="https://www.oecd.org/daf/fin/financial-markets/Why-Decentralised-Finance-DeFi-Matters-and-the-Policy-Implications.pdf">$150 billion</a> at the end of 2021. This is a nearly 500% increase over the last year. During the same period, DeFi applications recorded a 50-fold increase as well. This trend reflects the rise of stablecoins in DeFi protocols employed by institutional investors interested in these markets for fear of missing out.DeFi is growing dynamically because it offers advantages to both users and the market as a whole. It can improve liquidity, mitigate fraud risk, and increase the security of crypto assets over time. The risks it presents are comparable to ones associated with more traditional financial structures. For example, inflation is not an issue for DeFi, unlike in more conventional financial systems. Control over DeFi applications is also distributed among network participants rather than centralized with a central authority - what we call the Centralized Finance (CeFi) model. In fact, the FTX exchange collapse highlights just how important it is for cryptocurrencies to remain decentralized to protect user funds from theft or other malicious activity. DeFi needs to rely on a more secure financial system if users and businesses want to face fewer incidents like that in the future.<h2>Why centralization is a weakness</h2>Over the past year, we have seen the downfall of FTX, Celsius, BlockFi, and Voyager Digital. These were all centralized exchanges (CEXs) or centralized finance (CeFi) platforms. You can probably tell where we’re going with this - the common denominator is the centralized nature of these solutions. In both cases, operations are overseen by a central governing body. Some users consider CEXs almost as banks - they enable coin deposits and offer loans and a host of other financial services. Though CEXs are very friendly to newcomers and have high liquidity, they faced a lot of criticism in the past as going against the true spirit of crypto.Cryptocurrency-enabled decentralized finance (DeFi) projects are designed to preserve the perks that were introduced by crypto-enabled technologies. Such benefits are the permissionless nature of these applications, fee elimination, widespread access, operational transparency, and self-sovereignty over assets. As a result of the FTX fallout, DeFi saw a growth spurt as users moved their crypto assets to DeFi solutions. Volumes on decentralized exchanges were up <a href="https://www.bloomberg.com/news/articles/2022-11-18/billions-of-dollars-flee-ftx-woe-to-crypto-s-decentralized-roots">by almost 11%</a> that month. An <a href="https://www.bloomberg.com/opinion/articles/2022-11-09/ftx-s-unraveling-may-allow-defi-to-grow">opinion piece in Bloomberg</a> speculates that FTX’s collapse may in fact cause DeFi to grow in the short term, as the event will tighten the need for regulation while boosting longer-term interest from venture capitalists.<h2>DeFi needs to repair its industry reputation</h2>The value of tokens locked within DeFi-related smart contracts (total value locked or TVL) reached around <a href="https://defillama.com/">$180 billion in November 2021</a> from next to zero just a few months before, as investors got attracted to opportunities. This was primarily thanks to the fabulous annualized yield many DeFi projects offered. Another aspect was quick monetization via the early listing of tokens at the token generation event (TGE).By the middle of 2022, things started to slow down. Popular projects such as Celsius Networks have struggled to maintain their initial momentum as regulatory uncertainty slowed down adoption by big-name partners. Tornado Cash, a decentralized finance application that processed anonymous financial transactions for around $7 billion in illegal activities, was sanctioned by US authorities for providing a platform for money laundering.The cryptocurrency industry has since experienced a sharp decline in public interest and investment. Investor attention has shifted to other new hot topics, such as decentralized autonomous organizations (DAOs) and Web3 technology.While many DeFi projects may fail or be abandoned, others will stand the storm and emerge as legitimate industry leaders. MakerDAO, Uniswap, and Aave still reach billion-dollar market capitalizations and are today positioned to become the backbone of the financial services industry of the future. Many of these ventures are aware of the industry’s reputation problem as well as the perceived loss of a sense of purpose, so they’re busy working to find the next wave that will drive growth and restore legitimacy.<h2>Blockchain has a bright future ahead of it</h2>Despite the collapse of FTX, blockchain technology will continue to thrive. There are several initiatives taking place in the blockchain world, including new blockchain solutions for pricing carbon emissions and Web3. The failure of FTX underscores the need for more severe regulation in the cryptocurrency sector to ensure investor safety and encourage expansion. Transparency is essential to building trust, so the industry needs to do a better job of providing it if it hopes to attract more traditional investors.

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Decentralized finance (DeFi) is undergoing constant evolution triggered by dynamic changes in global economies, new regulations, and changes in the technological landscape. Current financial regulations were crafted based on the idea of separate financial jurisdictions, so DeFi’s borderless transaction capabilities present a challenge to this type of regulation.

How DeFi Protects Users And Fosters Transparency 

A serverless architecture opens the door for IT teams to build and run applications and services without having to manage any of the underlying infrastructure. Sounds like a dream, doesn’t it? Serverless computing lets developers focus on the core product instead of worrying about managing and operating servers or runtimes, either in the cloud or on-premises. This reduced overhead allows them to reclaim time and energy they can invest in developing great products that scale in a reliable way.Naturally, the largest public cloud provider Amazon Web Services (AWS) has a bunch of offerings addressing the serverless computing demands. What are they and how to use them? Here’s an in-depth guide to AWS serverless development.<h2>Before we get started: what does “serverless architecture” mean?</h2>Serverless refers to a broad range of technologies that prioritize scalability. Serverless applications can be developed with cloud-based services that scale automatically and are maintained by third-party vendors. While serverless architectures seem like a significant change for some developers, they don’t have to become a binary choice. Serverless technologies can easily complement traditional application models. For many developers, their first serverless application augments or integrates with a traditional application.<h2>Why is serverless development on the rise?</h2>Many engineers face the challenge of producing valuable output from data. The process of creating this output, which involves processing data, is called business logic. Traditional (non-serverless) applications require that developers prepare several generic, tedious tasks before they can start creating business logic: provisioning databases and servers, setting up backup and restore systems, and so on. Serverless technologies, on the other hand, help to solve these challenges by abstracting away many such repetitive tasks related to setting up infrastructure. As applications grow, increasing levels of traffic may cause scalability challenges. Solving these challenges can be costly because of additional architecture or personnel needs. Serverless technologies address this challenge by scaling automatically as needed to meet increasing demand. They often do so horizontally rather than vertically.Applications that rely on traditional infrastructure often required developers to overprovision them - leaving additional capacity sitting idle. With serverless technologies, teams pay only for the resources their application consumes. The horizontal scaling model means that applications can scale up and down with demand, making serverless a cost-effective model for applications that experience variable levels of traffic.<h2>A serverless use case</h2>A common use of serverless technologies is connecting features of two or more applications together. For instance, a team can quickly develop endpoints to operate inbound webhooks, run business logic on the webhook payload, and output the result to a different service. A good example of this is an application that uses GitHub’s webhook integration capability to notify people about changes via Slack - for example, when a repository gets a new star. If developers decide to build this application using a traditional technology stack, they must provision a server to receive the inbound webhook. To do that, they need to raise a ticket with operations and justify its existence. The team needs to configure the server with enough spare capacity to handle traffic spikes or get replicated using a load balancer. Also, it needs access to the public internet with additional authorization for the inbound GitHub webhook.But that’s not the end of it. The operating system, runtime, and security updates also need to be maintained with regular patching, and security updates. A serverless implementation of such an application means that you no longer have to worry about as many of these traditional stack operations. You can start directly with the business logic, and deploy it into your public cloud account with a single command. Every major public cloud provider offers many tools to streamline the process - such as AWS Lambda functions, Azure Functions, and Google Cloud Functions.<h2>What is AWS serverless development?</h2>The biggest public cloud provider AWS provides several solutions for running code, managing data, and integrating applications without forcing developers to manage the underlying server infrastructure. Such serverless technologies eliminate infrastructure management tasks like capacity provisioning, patching, or updating. AWS offers a variety of serverless computing frameworks, solutions, and serverless functions to simplify the development and deployment of serverless apps:<ul><li>AWS Lambda - this event-driven compute service is natively integrated with over 200 AWS services and SaaS applications. A serverless application includes one or more AWS Lambda functions, one or more event sources, and other resources such as APIs, databases, and event source mappings.</li><li>AWS Serverless Application Model (AWS SAM) - an open-source serverless framework for building serverless apps. It offers simple syntax to express functions, APIs, databases, and event source mappings. </li><li>AWS Cloud Development Kit (AWS CDK) - an open-source software development framework that lets you define your cloud application resources using familiar programming languages. </li><li>Serverless Framework - it consists of an open-source CLI and a hosted dashboard. Together, they deliver full lifecycle management capabilities. </li><li>Chalice - a framework for writing serverless apps in Python that allows you to quickly create and deploy applications that use AWS Lambda functions.</li><li>Arc.codes - a serverless platform that lets devs build massively scalable applications with low code, clear and terse configuration, and zero ceremonies. </li><li>Claudia.js - this handy tool lets you deploy Node.js projects to AWS Lambda and API Gateway.</li></ul><h2>What is the AWS Serverless Application Model (AWS SAM)?</h2>AWS Serverless Application Model (AWS SAM) is open-source serverless framework development teams use to build serverless applications on AWS. It consists of the following components: AWS SAM template specification - devs use this specification to define the serverless application. It offers developers a simple syntax to describe the functions, APIs, permissions, configurations, and events that all make up a serverless application. AWS SAM command line interface (AWS SAM CLI) - it allows developers to quickly create and deploy applications defined by AWS SAM templates. Here are some of the things you can do with it:<ul><li>Verify that AWS SAM template files are written in line with the specification, </li><li>Invoke Lambda functions locally, </li><li>Go through debug Lambda functions, </li><li>Package and deploy serverless applications to the AWS cloud, </li></ul><h2>Benefits of using AWS SAM</h2>AWS SAM is a serverless application model that integrates really well with other AWS services. You can easily organize related components and resources and operate on a single stack. Another benefit is that AWS SAM lets you share configurations such as memory and timeouts among resources, and deploy all related resources together as a single, versioned entity. AWS SAM is an extension of AWS CloudFormation, so you get the reliable deployment capabilities of AWS CloudFormation. You can define your resources by using AWS CloudFormation in your template, which allows you to use the full suite of resources, intrinsic functions, and other features that are available in AWS CloudFormation.The solution accelerates the software development process by allowing you to define your architecture as code. It also provides a configuration file that allows you to use and enforce best practices, such as code reviews. In addition, you can enable safe deployments through CodeDeploy and enable tracing by using AWS X-Ray by writing a few lines of code. Local debugging and testing are easy with the AWS SAM CLI, which lets you build, test, and debug serverless applications locally. The CLI provides a Lambda-like execution environment locally so you can catch issues upfront by providing parity with what happens in the cloud. With toolkits from AWS like the AWS Toolkit for JetBrains, AWS Toolkit for PyCharm, AWS Toolkit for IntelliJ, or AWS Toolkit for Visual Studio Code it is possible to further tighten the feedback loop.AWS SAM is deeply integrated with a suite of development tools coming from the cloud provider. The AWS Serverless Application Repository is an online catalog of applications that run on serverless architectures. Cloud9 IDE provides authoring, testing, and debugging capabilities to use with AWS SAM–based projects. CodeBuild and CodeDeploy help deploy your code changes, while CodePipeline automates the process of building, testing, and releasing your code into production. You can also use AWS CodeStar to get started with a project structure and deployment pipeline automatically configured for you.<h2>Summary</h2>Serverless architecture offers a new way to design and run applications. With serverless architectures, you don&#39;t have to manage infrastructure, provision, scale, and maintain servers to run your applications. When you use serverless computing, you can concentrate on building your core product rather than worrying about the overhead involved in operating servers or runtimes - either in the cloud or on-premises.

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A serverless architecture opens the door for IT teams to build and run applications and services without having to manage any of the underlying infrastructure. Sounds like a dream, doesn’t it?

What Is AWS Serverless Development?

As blockchain technology is still evolving, with multiple new products, chains, and start-ups established daily, blockchain data analytics is in high demand. Because of how the data on the chain is structured, analyzing what’s been going on within a blockchain platform or dApp might be a tricky and complex challenge. Blockchain analytics requires specific skills and tools and is not easy to perform. To understand it better, let’s dive into the basics of on-chain data analytics.In today’s post, we look into the complex world of big data mixed with blockchain technology. Here’s the content breakdown:<ul><li>What is blockchain analytics?</li><li>Why is blockchain analytics important?</li><li>What are the challenges of blockchain analytics?</li><li>How to execute blockchain data analysis?</li></ul><h3>What is blockchain analytics?</h3>In the broadest of definitions, data analytics is the art of drawing conclusions from raw information sets. In today’s world, where data is king, it’s hard to imagine a company that wouldn’t take advantage of its power. The same applies to analyzing data stored on the blockchain. Blockchain data analytics is the process of identifying, analyzing, and clustering data stored on the chain. It helps in understanding information about users and also in preventing fraud and money laundering by identifying anomalies. <h3>Why is blockchain analytics important?</h3>Amongst many reasons for the benefits of blockchain data analytics, safety is probably the most crucial one. As blockchain becomes more and more popular, a growing number of businesses look into trading and accepting cryptocurrencies as a form of payment and investment. Currently,<a href="https://bankrate.com/investing/cryptocurrency-statistics/">the total value of all existing cryptocurrencies is estimated at around $919 billion</a> with<a href="https://www.grandviewresearch.com/industry-analysis/crypto-wallet-market-report">84 million crypto wallets registered</a>. And we&#39;ve all heard cautionary tales of Terra, Luna, or FTX and wondered if, and how, those could&#39;ve been prevented. One of the ways of improving the safety of crypto transactions is to use the power of blockchain data analytics to our advantage. Crypto regulatory compliance is another field that benefits from blockchain data analysis greatly. Due to learning how users operate using blockchain financial platforms lawmakers can make accurate decisions when creating much-needed cryptocurrency policies. It&#39;s something that already exists in the world of traditional finance but is still very fresh and uncharted when it comes to blockchain transactions. Analytics is the best way of learning and predicting the shape of future cryptocurrency systems and making them safe and reliable.<h4>Benefits of blockchain data analytics</h4><ul><li>fraud protection</li><li>criminal activities detection</li><li>crypto risk management</li><li>money laundering prevention</li><li>regulatory compliance support</li><li>a better understanding of users&#39; behavior and needs</li><li>dApp improvement</li></ul><h3>What are the challenges of blockchain analytics?</h3>While the benefits of on-chain data analysis are undeniable, the whole process is difficult and complex. There are a couple of major challenges awaiting blockchain aficionados who wish to make use of the generated data:<ol><li>Lack of standardization: There is no standardized data format or schema for blockchain data, which makes it difficult to analyze and compare across different blockchain networks.</li><li>Data privacy: blockchain networks are designed to be secure and protect user privacy, which can make it challenging to access and analyze data.</li><li>Data volume: blockchain networks generate vast amounts of data, which can make it difficult to manage and analyze efficiently.</li><li>Data quality: on-chain data can be incomplete, inaccurate, or inconsistent, which can impact the accuracy and reliability of the analysis.</li><li>Scalability: blockchain analytics tools and systems must be able to handle large volumes of data and transactions in real time.</li><li>The decentralized nature of the blockchain: Since the blockchain is decentralized, there is no central authority or organization that owns or controls the data, making it difficult to obtain a complete and accurate picture of the network.</li><li>How to execute blockchain data analysis?Now that we&#39;ve covered the basics, let&#39;s look into the process of analysis itself, taking the Ethereum network as an example. To perform blockchain data analytics on Ethereum, developers use block explorers (<a href="https://etherscan.io/">Etherscan</a>,<a href="https://www.etherchain.org/">Etherchain</a>,<a href="https://ethplorer.io/">Ethplorer</a>, or<a href="https://blockchair.com/ethereum">Blockchair</a>) which enable insight into real-time data on blocks, miners, accounts, transactions, etc. To be able to use the data efficiently, blockchain engineers need to index and query the data. One of the most popular indexing tools for Ethereum is The Graph, which is a decentralized protocol made for organizing on-chain data. Before using The Graph, development teams used to develop their own proprietary indexing servers, which were resource intensive and broke the basic rules of decentralization.The most common open-source tool for Ethereum data analytics is<a href="https://ethereum-etl.readthedocs.io/en/latest/">Ethereum ELT</a> which converts the data into more convenient formats, like CSVs. Another popular analytics tool used to convert blockchain data into relational database tables, and then to query it using SQL is<a href="https://dune.com/">Dune Analytics</a>. Its most valuable feature is that even a non-technical person after some basic learning should be able to create a custom dashboard allowing them to display the required information.<h3>The summary</h3>With the rise of the demand for blockchain analytics, the list of available tools is ever-growing. Keeping up with them is a must if you wish for your blockchain product to succeed. Without analytics, your dApp won&#39;t address the needs and requirements of its users properly. Overall, the goal of blockchain data analytics is to use it to gain insights and make informed decisions about the use of blockchain technology. It&#39;s important for everyone interested in blockchain product development, but also for lawmakers. In order for them to be able to create policies that actually accelerate blockchain business growth, they first need to analyze the data that is available. </li></ol>

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Blockchain analytics requires specific skills and tools and is not easy to perform. To understand it better, let’s dive into the basics of on-chain data analytics. As blockchain technology is still evolving, with multiple new products, chains, and start-ups established daily, blockchain data analytics is in high demand.

Blockchain data analytics in a nutshell

We’re proud to announce that Rumble Fish Software Development joined Swiss-Polish Blockchain Association as a member. Being at the forefront of blockchain technology since the founding of the company, we gladly look for new connections and blockchain-oriented partnerships. <a href="https://swisspolishblockchain.org/">Swiss-Polish Blockchain Association</a> was founded in 2018. Since then SPBA has been making a great effort to connect entrepreneurs from both countries and create a networking space for blockchain visionaries and enthusiasts alike. Rumble Fish, being a first-choice blockchain development company is a natural fit for the association and its members. Our partnership is set to explore, discuss, and share the latest blockchain trends and policies, and inspire entrepreneurs to delve into business opportunities that blockchain brings. Our knowledge of technology and various blockchain protocols is a valuable asset to the organization, and we’ll gladly act as a mentor and technology advisor for every party involved in SPBA and beyond. At Rumble Fish, we specialize in fields like custom blockchain software development, DeFi &amp; Fintech development, or smart contracts development. We’ve been actively involved in the design and development of various blockchain products, and successfully completed projects for both start-ups and established global corporations. Our engineers are known to be the most talented and skilled blockchain experts one can find due to the constant training and involvement in what’s currently going on in the industry. Being a member of the Swiss-Polish Blockchain Association will allow us to create new connections and be even more active in the European blockchain market. Stay tuned for more info on our involvement in Swiss-Polish Blockchain Association.

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We’re proud to announce that Rumble Fish Software Development joined Swiss-Polish Blockchain Association as a member. Being at the forefront of blockchain technology since the founding of the company, we gladly look for new connections and blockchain-oriented partnerships.

Rumble Fish joins Swiss-Polish Blockchain Association

Web3 is amongst the most used IT buzzwords of 2022 for a reason. We’ve entered an era of decentralized digital services that give power back to their users, are permissionless and trustless, and use native payment methods. To understand the concept of Web3 better, let’s look at the products that embrace its core principles in the best way possible. <h2>What is Web3 and how is it different from its previous iterations?</h2>The concept of Web3, although might seem complex, is not that difficult to grasp when we look at it through the lens of its evolution. When we first started using the World Wide Web, it was mainly static sites owned by companies and/or government agencies. It didn’t really allow any interaction between its users, and it wasn’t easy for an average Joe to publish their own content there; therefore we know this Web1 era of the Internet as read-only. Then, social media entered the picture and changed the way we used the WWW. Before that, we could go online and read whatever content was published there by publishers who could afford servers, and the whole infrastructure and that was mostly huge corporations. With the emergence of Web2 we could now become not only the readers but also the creators - publish our own videos on YouTube, thoughts and inspirational images on Tumblr, or personal profiles on MySpace. Internet forums also became a huge thing. But while users could now create and publish their own content on those platforms, they didn’t own them and rarely could benefit from their monetization.That’s where Web3 makes a difference. Taking advantage of blockchain technology, Web3 tries to give ownership back to people. But it’s not its only principle. According to <a href="https://ethereum.org/en/web3/">Ethereum.org</a>, the 4 core ideas of Web3 are:<ol><li>decentralization (meaning that the internet and its products should be controlled and owned by its users and not Big Tech companies)</li><li>cryptocurrency-first (instead of relying on traditional banking, Web3 users use native payments to spend, send, and exchange money)</li><li>trustlessness (instead of relying on trust for the third party to fulfill their responsibility towards the users, it operates on incentives and economic mechanisms)</li></ol>The tweet below, written in 2020, perfectly sums up the differences between Webs 1-3. <img src="https://strapi-uploads.rumblefish.dev/image_17_41daace549.png" alt="image_17_.png" srcset="https://strapi-uploads.rumblefish.dev/large_image_17_41daace549.png 1000w,https://strapi-uploads.rumblefish.dev/small_image_17_41daace549.png 500w,https://strapi-uploads.rumblefish.dev/medium_image_17_41daace549.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_image_17_41daace549.png 245w," sizes="100vw" width="1000px"><a href="https://twitter.com/himgajria/status/1266415636789334016">Source</a><h2>10 Web3 products to watch in 2023 and beyond</h2>Amongst many projects that could be described as Web3 projects, there are a couple that stand out due to the originality of their concept, or the amount of public attention they received. Let’s look at 10 of them.<img src="https://strapi-uploads.rumblefish.dev/Web3_application_areas_1_52aa7d36d8.png" alt="Web3_application_areas__1_.png" srcset="https://strapi-uploads.rumblefish.dev/large_Web3_application_areas_1_52aa7d36d8.png 1000w,https://strapi-uploads.rumblefish.dev/small_Web3_application_areas_1_52aa7d36d8.png 500w,https://strapi-uploads.rumblefish.dev/medium_Web3_application_areas_1_52aa7d36d8.png 750w,https://strapi-uploads.rumblefish.dev/thumbnail_Web3_application_areas_1_52aa7d36d8.png 245w," sizes="100vw" width="1000px"><h3>Ocean Protocol: turn your data into an asset</h3>Ocean Protocol was built on the Ethereum chain and its main purpose is to facilitate data exchange among businesses and individuals. The protocol gives people control over their own data by enabling them to monetize it by turning it into an asset. Taking advantage of blockchain technology and Web3 principles, Ocean Protocol has been awarded the Technology Pioneer title by the World Economic Forum in 2021.<img src="https://strapi-uploads.rumblefish.dev/oceanprotocol_99524cfcc2.JPG" alt="oceanprotocol.JPG" srcset="https://strapi-uploads.rumblefish.dev/large_oceanprotocol_99524cfcc2.JPG 1000w,https://strapi-uploads.rumblefish.dev/small_oceanprotocol_99524cfcc2.JPG 500w,https://strapi-uploads.rumblefish.dev/medium_oceanprotocol_99524cfcc2.JPG 750w,https://strapi-uploads.rumblefish.dev/thumbnail_oceanprotocol_99524cfcc2.JPG 227w," sizes="100vw" width="1000px"><h3>Polkadot: built to enable Web3 development</h3>Another great example of a Web3 project is the Polkadot network. It enables multiple blockchains to seamlessly talk to each other in order to make them interoperable. This growing ecosystem of blockchains is a perfect environment for Web3 app development, where developers don’t have to worry about security as Polkadot introduced “shared security” which is a plug-and-play safety mechanism. Overall, the Polkadot network is a great enabler of broader blockchain and Web3 development adoption.<h3>Harmony: a perfect balance of security, scalability, and decentralization</h3>Blockchain technology although very powerful and future-proof has 3 main challenges to overcome, which are referred to as T<a href="https://medium.com/certik/the-blockchain-trilemma-decentralized-scalable-and-secure-e9d8c41a87b3">he Blockchain Trilemma</a>. The term, coined by  Vitalik Buterin - one of the Ethereum founders, addresses the biggest issues that blockchain developers face when creating Web3 apps. And those are that the blockchains should be scalable, decentralized, and secure. Harmony has been built to address all 3 of those challenges. It’s a great example of a Web3 project that uses proof of stake and decentralized randomness for <a href="https://medium.com/@cindy_50972/the-state-of-sharding-ffab3a2632e5">state sharding</a>.<img src="https://strapi-uploads.rumblefish.dev/harmony_cfbc8dc4b7.JPG" alt="harmony.JPG" srcset="https://strapi-uploads.rumblefish.dev/large_harmony_cfbc8dc4b7.JPG 1000w,https://strapi-uploads.rumblefish.dev/small_harmony_cfbc8dc4b7.JPG 500w,https://strapi-uploads.rumblefish.dev/medium_harmony_cfbc8dc4b7.JPG 750w,https://strapi-uploads.rumblefish.dev/thumbnail_harmony_cfbc8dc4b7.JPG 245w," sizes="100vw" width="1000px"><h3>Axie Infinity: where gaming meets Web3 principles</h3>Moving on to examples of Web3 use cases in entertainment, let’s take a closer look at Axie Infinity. The game is built on the Ronin Network, which is a sidechain of the Ethereum blockchain, and its main purpose is to collect and battle small creatures called Axies. The whole virtual world of Axe Infinity is known for its in-game NFT economy. Users can trade their Axies, buy virtual land within the game metaverse, and purchase other in-game assets as NFTs. <h3>Calvaria: a play-to-earn video game</h3>Staying in the gaming business, let’s move on to another Web3 use case. Currently in phase 3 of pre-sale, Calvaria is a strong contender for the blockchain gaming space champion. Calvaria is a play-to-earn (P2E) game that is said to focus more on the gaming aspect itself, while other Web3 games on the market right now are often criticized for focusing too much on the cryptocurrency factor. The hype around Calvaria might be related to its excellent story-like theme. Currently, it reached a milestone of $10 million capital raise. It’s worth keeping an eye on this exciting Web3 project.<h3>API3: introducing decentralized APIs</h3>API3 is a Web3 project aiming to develop a blockchain-native, decentralized version of APIs. The API3 Alliance works towards making Web3 solutions easier to access for traditional businesses by introducing Web3 APIs. API3 is the native currency for the network acting as a governance token that serves its DAO community to manage the project. <h3>Livepeer: a decentralized network built for cost-effective streaming</h3>Livepeer is an answer to a growing demand for video infrastructure better scalability and cost-effectiveness. The solution is a blockchain-based protocol that aims to deliver a broadcasting service that is cheaper, more scalable, and more decentralized than any of the traditional, existing platforms. The network is built for 3 types of users: developers who wish to build apps with live or on-demand video functionality, users who consume video content, and broadcasters (such as YouTube or Twitch) who have enormous audiences and very high streaming and infrastructure costs and need to reduce both of those.<img src="https://strapi-uploads.rumblefish.dev/livepeer_8f28d7f643.JPG" alt="livepeer.JPG" srcset="https://strapi-uploads.rumblefish.dev/large_livepeer_8f28d7f643.JPG 1000w,https://strapi-uploads.rumblefish.dev/small_livepeer_8f28d7f643.JPG 500w,https://strapi-uploads.rumblefish.dev/medium_livepeer_8f28d7f643.JPG 750w,https://strapi-uploads.rumblefish.dev/thumbnail_livepeer_8f28d7f643.JPG 245w," sizes="100vw" width="1000px"><h3>IMPT.io: a Web3 pro-sustainability project</h3>IMPT.io is a blockchain-based carbon offset affiliation program that helps individuals and businesses offset their carbon footprint easily and safely. IMPT.io curates a list of impactful environmental projects from all around the world and connects them with users. Within the platform, users acquire carbon credits while online shopping. The project has gotten approvals from over 10k companies to help them in their carbon emission offset journey to make the blockchain market as environmentally friendly as possible.<h3>Theta: Web3 infrastructure for entertainment</h3>Theta aims to be the go-to blockchain for the Web3 versions of streaming and entertainment services such as Netflix, YouTube, Ticketmaster, or even Google. Its ecosystem consists of THETA tokens, TFUEL tokens, and a Theta wallet. In December of 2022 its next evolution of blockchain, called Theta Metachain, is supposed to go live. It’s certainly a project with lots of potential as its creators are the perfect mix of the traditional media and entertainment world and Web3 development experts. <h3>Basic Attention Token: Web3 for digital advertisment</h3>Another ambitious and creative way of utilizing Web3 principles is BAT (Basic Attention Token) which is a token of the Brave Ads ecosystem. The concept idea behind it is that it tokenizes user attention, connecting publishers with advertisers while eliminating the intermediaries. Content viewers can monetize their attention by viewing ads and getting BAT rewards. The publisher earns their share of the revenue, while advertisers get what they need the most which is users’ attention. Brilliant!<h2>Web3 development is the future </h2>As the examples above show, there is a huge potential in using Web3 solutions and principles in digital product development. The future of the internet is user-centric and focused on ownership and privacy. And there is no better technology to apply for that purpose than Web3-based technology. If you’re not sure whether or not your industry could benefit from Web3 application, contact us to discuss your concept in more detail. It could be done in a form of a discovery workshop where we jointly establish your business goals with the roadmap of how to reach them, define the Web3 technology stack, and guide you all the way up to the successful product launch. A discovery workshop is the most efficient way to verify your business idea, especially in a situation where there is no footprint of how to operate. And that’s the current state of affairs when it comes to Web3 product development. Having the knowledge of tech stack, tools, and all of the tips and tricks of creating decentralized products, Rumble Fish is your perfect IT partner for any Web3-related project. If you have a Web3 product concept in mind, don’t hesitate <a href="http://hello@rumblefish.dev">to let us know</a>.

shubham-dhage-Bz9mvCmlBjs-unsplash.jpg

Web3 is amongst the most used IT buzzwords of 2022 for a reason. We’ve entered an era of decentralized digital services that give power back to their users, are permissionless and trustless, and use native payment methods. To understand the concept of Web3 better, let’s look at the products that embrace its core principles in the best way possible.

Web3 in action: 10 best real-life Web3 project examples

Software developers are often faced with the challenging task of managing large datasets in real-time. Modern apps often require some serious big data processing and many of them (like Spotify or Zalando, for example) use Apache Flink to get the job done. Flink is an excellent choice for any event-driven application, due to its extensive feature set that can support stream and batch processing, event-time processing, or even more sophisticated state management. In today’s article, we’ll explain how we use Apache Flink (mixed with Amazon Kinesis Analytics) at Rumble Fish, and showcase a relevant use case with the code lines so you can start using Flink too. Let’s jump right in!In short, at Rumble Fish we use Apache Flink to process large amount of real-time data and aggregate it in appropriate ways, depending on the need. One of them is to process chunks of data in a tumbling time window. Next, this data is aggregated by, for example, taking the largest value of a given field from a given piece of data. Thanks to this procedure we reduce a potentially huge stream of data to a stream that has defined throughput and can be processed by slower components (like updating the database/frontend, etc).Another nice feature unlocked by Flink is that data processing can be stateful, without the need for an external database. Thanks to this, we can easily process information in the context of its previous state. Without this feature, we would have to call an external database for each processed record and this would definitely not be fast enough for the datasets we work with.Finally, Apache Flink provides developers with a large number of connectors, such as Kafka, FileSystem, Kinesis, etc. At Rumble Fish, we use an AWS service, Kinesis Analytics. The Kinesis connector gives us access to Amazon Kinesis Data Streams which allows us to further simplify our real-time data processing work. It is easy to use, as we can create an Amazon Kinesis Stream in seconds, and the service is highly reliable. Kinesis Analytics offers a standard way of deploying Flink applications at scale. <h2>What systems is Apache Flink a good choice for?</h2><h3>Handling massive amounts of data made simple</h3>Apache Flink allows us to process large amounts of data while offering high fault tolerance. The secret sauce here is the consistent recording of the application state, unlocked by generating consistent snapshots of a distributed data stream and operator state. In the event of a system failure, Apache Flink automatically recovers data from these snapshots.<h3>Real-time processing unlocked</h3>Flink also supports real-time processing of bounded or unbounded data streams. We can freely aggregate the data, process it, or divide it into appropriate time windows. How does it work in a real-life scenario? Let’s say we need to design a lottery with a set number of prizes, in which the player has 1o seconds to redeem the reward and after that time window, the next prize is shown. Apache Flink is an ideal solution for this use case. All you need to do is create some kind of data stream accepting all the prizes, then create a 10-second tumbling window and draw a random (pseudo-random) coupon associated with a particular user and a particular prize. Done!<h3>Statefulness achieved</h3>Flink also allows us to hold the state without using a database, so we can make decisions in real-time based on historic data. Let&#39;s go back to our lottery use case. We want to check whether the user who has placed a lottery ticket for an auction has any coupons at all. Below is an example illustrating state holding for the described situation:{{codeSnippet,JAVA 1}}In the example above, we’ve checked whether the user who wants to click on a lottery has redeemed coupons. Next, we’ve updated the status by reducing the number of coupons and sent the action for further processing.<h2>Benefits of using AWS Kinesis Analytics</h2>As mentioned earlier Apache Flink has a wide variety of connectors. Today, we focus on the tool provided by Amazon - AWS Kinesis. One drawback of Apache Flink is that it doesn’t have an autoscaling feature. And this is where Kinesis comes in handy. It’s a serverless, fully managed service that allows users to process data continuously in real-time. What’s more, it enables the autoscaling of computing resources and volumes of incoming data to avoid processing delays.<h3>How to setup infrastructure for the Kinesis Analytics application?</h3>Let&#39;s now take a moment to analyze Apache Flink&#39;s connection to AWS Kinesis from the Cloud Formation level. To start, let&#39;s create a file named template.yml where our configuration will be placed and see how our streams are defined.{{codeSnippet,YAML1}}As we can see the whole procedure is not too complicated and pretty self-explanatory. All we need to do at the beginning is to declare our streams and then define them with the appropriate types and provide basic properties. Next, we define Policy for our streams, we just need to give all of them the same permissions i.e. write and read.{{codeSnippet,YAML2}}Finally, let’s define the Kinesis Analytics Application, which shouldn’t be more complicated than what we already did above. {{codeSnippet,YAML3}}As we can see above, the first step was to specify a couple of variables: the type of our application, basic properties such as name, AWS S3 configuration where our Flink application will be stored, and in what format (in our case it was ZIP). At the end, we’ve set the environment variables. And, as the French say: voilà.That&#39;s all it takes to make our application work on AWS.<h2>Our recommendation for the structure of the Flink app</h2>As we already know, Apache Flink offers multiple connectors, but what if we want to have more than one of them in our application? For example, we’d like to implement Kafka for testing, and Kinesis for production. We can easily do that by configuring two connectors and controlling them with, for example, input arguments of our program. It is enough that both connectors implement the same interface. Below is a code snippet that demonstrates this:{{codeSnippet,JAVA2}}- starting place of the application{{codeSnippet,JAVA3}}- common interface{{codeSnippet,JAVA4}}- Kafka configurationFor the implementation of this interface for AWS Kinesis, the situation looks very similar. Of course, we need to use another connector. In addition, we will need the names of the predefined streams and basic configuration. You can find all of this in the repository that is linked below.<h3>Apache Flink in action: the testing</h3>Now let&#39;s move on to testing our application. We will cover both unit tests and integration tests. It is worth mentioning that Flink provides us with very useful tools for this purpose. All we need to do is to pull the appropriate dependencies into the project and we are done.{{codeSnippet,XML1}}<h4>Unit tests</h4>Let’s start with unit tests. In our application, we use the so-called KeyedCoProcessFunction. This means that we can separately process events dropping into our application from Kafka or Kinesis. In our case, these are events related to the user (buying coupons, clicking on a lottery) and events related to the lottery itself (launching a specific lottery). In addition, buying coupons is an event that we need to pass on for further processing because we will be choosing a winner based on these coupons.Next, we move on to writing the first test, which will throw an exception if the user tries to click on an inactive lottery.First of all, we initialize our TestHarness, which came to us with a previously pulled dependency.{{codeSnippet,JAVA5}}It’s a kind of wrapper for our class that we will test. Then, on such a prepared instance, we can execute processing methods.{{codeSnippet,JAVA6}}As we can see, before processing the event of clicking on lotteries there is no activation of lotteries and for this reason, we get an exception. But what if we need to check whether the event of clicking on a particular lottery will actually be processed further? This is also possible thanks to our harness. {{codeSnippet,JAVA7}}So first we activated our lottery, then a particular user bought coupons so that he could click on a particular lottery. Finally, the user clicked on the lottery and this event should be further processed. It was enough to execute the extractOutputValues() method and compare its result with the expected one.<h4>Integration tests</h4>Now we swiftly move on to the integration testing. Of course, we can run Kafka as a Docker container and test the whole flow manually, but why should we when Flink provides us with a ready-made mini Cluster on which we can work? Let&#39;s assume that we have already prepared the output events, which in our case is about clicking on a particular lottery. And now we need to draw the winner. This is where the previously mentioned time windows will come in handy.{{codeSnippet,JAVA8}}The above code is actually the heart of our application. First, we prepared our events for processing, that is, we turned them from Strings into concrete objects and combined them into one ConnectedStream. Then we processed them as described above for unit testing. Next, we created a 10-second time window, and based on the data from this window, we selected the winner using GetWinnerWindowFunction. At the very end, we added our Sink, to which we passed the information about the winner. Now let&#39;s see what an integration test for this could look like.  First, let&#39;s create an instance of our Flink cluster and annotate it with @ClassRule to make it run before testing.{{codeSnippet,JAVA9}}Now we need some test Sink to see who won.{{codeSnippet,JAVA10}}As you can see, you just need to implement the SinkFunction interface and override the invoke method. The principle is simple, the win information is added to the static list using the invoke method.
Let&#39;s see our test:{{codeSnippet,JAVA11}}As a first step, we created our execution environment. Next, we built our input streams using the intuitive fromElements(...) method. Note that our UserClickEvent has a timestamp, based on which we&#39;ll be able to further choose the winner. Then, we executed the static method that created our pipeline and, at the very end, we fired up our environment. After all of those operations, we were able to easily check the data from Sink, pulling it from the static list and comparing it with the expected result.<h3>Flink checkpointing</h3>Let&#39;s say that new events flood our application all the time and we have to process them in real-time. What if suddenly for some reason an exception is thrown and our application stops working? What about the events that didn’t have the time to be processed? This is when checkpointing comes to our aid, which provides the application with fault tolerance. {{codeSnippet,JAVA12}}We’ve activated checkpointing and set the appropriate interval.Checkpointing is nothing more than saving our events in some specific place. It could be S3 in the case of AWS, or some file on our local computer. Now at the moment of an exception, the app will recreate the data and start from the place when the application was still running.<h2>The conclusion</h2>In this article we’ve shown how to use Apache Flink for real-time data processing, having the lottery application as an example. We’ve also showcased how Flink helps to store state and how to connect and configure various connectors, which definitely makes devs’ work easier. This is of course just a fraction of what Apache Flink is capable of. Those passionate about the subject of Big Data will certainly draw something for themselves from the above text and the case we used as an example. The entire lottery application with tests and infrastructure can be found on <a href="https://github.com/rumblefishdev/flink-lottery-app">Rumble Fish’s Github</a>.

private transient BroadcastState < Integer, UserState > userState;
private transient BroadcastState < Integer, LotteryState > lotteryState;

@Override
public void processElement2(UserEvent userEvent, Context ctx,
 Collector < EventOutput > out) throws Exception {
 log.info("Processing UserEvent is started: " + userEvent);
 log.info("Current UserState: " + getUserState());

 Integer userAvailableCoupon = userState.get(ctx.getCurrentKey()).getAvailableCoupon();
 if (userAvailableCoupon > 0) {
 userState.put(ctx.getCurrentKey(), new UserState(ctx.getCurrentKey(),
 userAvailableCoupon - 1));
 out.collect(new EventOutput(userEvent.getLotteryId(), userEvent.getUserId(),
 userEvent.getTimestamp()));
 }

 log.info("Processing UserEvent is done: " + userEvent);
 log.info("updated UserState: " + getUserState());

JAVA 1

Outputs:
 <STREAM_NAME>:
 Value: !Ref <STREAM-NAME>

 # other streams...

Resources:
 <STREAM_NAME>:
 Type: AWS::Kinesis::Stream
 Properties:
 Name: !Sub ${NamePrefix}<STREAM-NAME>
 RetentionPeriodHours: !Ref StreamRetentionPeriodHours
 ShardCount: !Ref StreamShardCount

 # other streams…

YAML1

KinensisApplicationServiceRole:
 Type: AWS::IAM::Role
 Properties:
 AssumeRolePolicyDocument:
 Version: "2012-10-17"
 Statement:
 - Effect: "Allow"
 Principal:
 Service:
 - "kinesisanalytics.amazonaws.com"
 Action:
 - "sts:AssumeRole"
 Path: "/"
 Policies:
 - PolicyName: StatesExecutionPolicy
 PolicyDocument:
 Version: "2012-10-17"
 Statement:
 - Sid: S3
 Effect: Allow
 Action:
 - s3:GetObject
 - s3:GetObjectVersion

 Resource:
 - !Sub arn:aws:s3:::${ArtifactsBucketName}
 - !Sub arn:aws:s3:::${ArtifactsBucketName}/*
 - Sid: <SID-NAME>
 Effect: Allow
 Action: kinesis:*
 Resource: !Sub arn:aws:kinesis:${AWS::Region}:${AWS::AccountId}:stream/${<STREAM-NAME>}

 # other streams configuration

YAML2

KinesisAnalyticsApp:
 Type: AWS::KinesisAnalyticsV2::Application
 Properties:
 ApplicationName: !Sub ${NamePrefix}AnalyticsApp
 ApplicationConfiguration:
 ApplicationCodeConfiguration:
 CodeContent:
 S3ContentLocation:
 BucketARN: !Sub arn:aws:s3:::${ArtifactsBucketName}
 FileKey: !Ref KinesisAppBucketKey
 CodeContentType: "ZIPFILE"
 FlinkApplicationConfiguration:
 MonitoringConfiguration:
 ConfigurationType: DEFAULT
 EnvironmentProperties:
 PropertyGroups:
 - PropertyGroupId: ProducerConfigProperties
 PropertyMap:
 flink.stream.initpos: LATEST
 aws.region: !Ref AWS::Region
 AggregationEnabled: false
 - PropertyGroupId: ConsumerConfigProperties
 PropertyMap:
 aws.region: !Ref AWS::Region
 - PropertyGroupId: <STREAM-NAME>
 PropertyMap:
 name: !Ref <STREAM-NAME>
 # other streams properties
 RuntimeEnvironment: FLINK-1_13
 ServiceExecutionRole: !GetAtt KinensisApplicationServiceRole.Arn

YAML3

public static void main(String[] args) throws Exception {
 final StreamExecutionEnvironment env = StreamExecutionEnvironment.getExecutionEnvironment();
 env.setParallelism(1);

 env.enableCheckpointing(1000);

 ConnectorConfig connectorConfig = assignConnector(args);

 DataStream < String > lotteryStream = connectorConfig.createSource(env, connectorConfig.getFirstSourceInput());
 DataStream < String > userStream = connectorConfig.createSource(env, connectorConfig.getSecondSourceInput());

 SinkFunction < String > lotteryEventsProducer = connectorConfig.createSink();

 LotteryStreams.prepareLotteryPipeline(lotteryStream, userStream, lotteryEventsProducer);

 env.execute("lottery");
}

private static ConnectorConfig assignConnector(String[] args) {
 String connector = args[0];
 if (connector.equals(ConnectorType.KAFKA_CONNECTOR.getValue()))
 return new KafkaConnectorConfig();
 if (connector.equals(ConnectorType.KINESIS_CONNECTOR.getValue()))
 return new KinesisConnectorConfig();
 else {
 throw new IllegalStateException("Connector does not exists");
 }
}

JAVA2

public interface ConnectorConfig {

 SinkFunction < String > createSink() throws IOException;

 DataStream < String > createSource(StreamExecutionEnvironment env, String input) throws IOException;

 String getFirstSourceInput();

 String getSecondSourceInput();
}

JAVA3

public class KafkaConnectorConfig implements ConnectorConfig {

 public SinkFunction < String > createSink() {
 return new FlinkKafkaProducer011 < > ("localhost:9092", "lottery-output-topic", new SimpleStringSchema());
 }

 public DataStream < String > createSource(StreamExecutionEnvironment env, String inputTopic) {
 FlinkKafkaConsumer011 < String > kafkaConsumer = createStringConsumerForTopic(inputTopic);
 return env.addSource(kafkaConsumer);
 }

 @Override
 public String getFirstSourceInput() {
 return "lottery-input-topic";
 }

 @Override
 public String getSecondSourceInput() {
 return "user-input-topic";
 }

 private FlinkKafkaConsumer011 < String > createStringConsumerForTopic(String topic) {
 Properties props = new Properties();
 props.setProperty("bootstrap.servers", "localhost:9092");
 props.setProperty("group.id", "bid-club");
 props.setProperty("auto.offset.reset", "latest");
 props.setProperty("enable.auto.commit", "false");

 return new FlinkKafkaConsumer011 < > (topic, new SimpleStringSchema(), props);
 }
}

JAVA4

<dependency>
 <groupId>org.apache.flink</groupId>
 <artifactId>flink-test-utils_${scala.binary.version}</artifactId>
 <version>1.13.2</version>
 <scope>test</scope>
</dependency>

XML1

@Before
public void beforeClass() throws Exception {
 KeyedCoProcessFunction < Integer, LotteryEvent, UserEvent, EventOutput > lotteryProcessFunction = new LotteryEventsCoProcessFunction();

 harness = ProcessFunctionTestHarnesses.forKeyedCoProcessFunction(
 lotteryProcessFunction, LotteryEvent::getLotteryId, UserEvent::getUserId, TypeInformation.of(Integer.class));

 harness.open();
}

JAVA5

@Test
public void userCannotClickOnInactiveLottery() {
    //when: the user is trying to click on inactive lottery, an exception should be thrown
    Exception exception = assertThrows(IllegalStateException.class,
        () - > harness.processElement2(new UserClickEvent(1000, 1, 1), DUMMY_TIMESTAMP));

    String expectedMessage = "Cannot click on inactive lottery, lotteryId: 1";
    String actualMessage = exception.getMessage();

    assertEquals(expectedMessage, actualMessage);
}

JAVA6

@Test
public void userClickEventShouldBeCollected() throws Exception {
    //given: the lottery is activated and the user has an available coupon
    harness.processElement1(new LotteryStartEvent(1), DUMMY_TIMESTAMP);
    harness.processElement2(new UserBuyCouponEvent(1, 100), DUMMY_TIMESTAMP);

    //when: userClickEvent is sent
    harness.processElement2(new UserClickEvent(1000, 1, 1), DUMMY_TIMESTAMP);

    //then: only userClickEvent should be collected
    assertEquals(harness.extractOutputValues(), List.of(new EventOutput(1, 1, 1000)));
}

JAVA7

public class LotteryStreams implements Serializable {

 public static void prepareLotteryPipeline(DataStream < String > lotteryStream, DataStream < String > userStream, SinkFunction < String > LotterySink) {
 SingleOutputStreamOperator < EventOutput > processedEvents = prepareConnectedStream(lotteryStream, userStream)
 .process(new LotteryEventsCoProcessFunction());

 processedEvents
 .assignTimestampsAndWatermarks(
 WatermarkStrategy. < EventOutput > forMonotonousTimestamps().withTimestampAssigner((event, timestamp) - > event.getTimestamp()))
 .keyBy(EventOutput::getLotteryId)
 .window(TumblingEventTimeWindows.of(Time.seconds(10)))
 .process(new GetWinnerWindowFunction())
 .map(event - > new Gson().toJson(event))
 .addSink(LotterySink);
 }

 private static ConnectedStreams < LotteryEvent, UserEvent > prepareConnectedStream(DataStream < String > lotteryEvents, DataStream < String > userEvents) {
 return lotteryEvents
 .map(lotteryEventAsString - > (LotteryEvent) createEvent(lotteryEventAsString))
 .keyBy(LotteryEvent::getLotteryId)
 .connect(
 userEvents
 .map(userEventAsString - > (UserEvent) createEvent(userEventAsString))
 .keyBy(UserEvent::getUserId));
 }

}

public class GetWinnerWindowFunction extends ProcessWindowFunction < EventOutput, Integer, Integer, TimeWindow > {

 @Override
 public void process(Integer integer, ProcessWindowFunction < EventOutput, Integer, Integer, TimeWindow > .Context context,
 Iterable < EventOutput > elements, Collector < Integer > collector) {
 List < EventOutput > elementsAsList = new ArrayList < > ();
 elements.iterator().forEachRemaining(elementsAsList::add);

 Random rand = new Random();
 Integer winnerId = elementsAsList.get(rand.nextInt(elementsAsList.size())).getUserId();
 collector.collect(winnerId);
 }
}

JAVA8

@ClassRule
public static MiniClusterWithClientResource flinkCluster =
    new MiniClusterWithClientResource(
        new MiniClusterResourceConfiguration.Builder()
        .setNumberSlotsPerTaskManager(2)
        .setNumberTaskManagers(1)
        .build());

JAVA9

private static class CollectSink implements SinkFunction < String > {

 public static final List < String > values = Collections.synchronizedList(new ArrayList < > ());

 @Override
 public void invoke(String value, Context context) {
 values.add(value);
 }
}

JAVA10

Software developers are often faced with the challenging task of managing large datasets in real-time. Modern apps often require some serious big data processing and many of them (like Spotify or Zalando, for example) use Apache Flink to get the job done.