10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Sol2Ligo: Simplify Converting Ethereum Solidity Contracts To Tezos Ligo Contracts

Madfish Solutions has just launched the Sol2Ligo Interactive handbook.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Solidity To Ligo

Madfish Solutions has just launched the Sol2Ligo Interactive handbook. The Sol2Ligo handbook is an online interactive tool, developed for Solidity developers that want to migrate their smart-contract development knowledge to the Tezos ecosystem.

Solidity is the number one programming language used for creating Ethereum applications. It is an object-orientated, high-level language designed to target the Ethereum Virtual Machine (EVM). In 2018 it was stated that there were over 200,000 Solidity developers, however that figure is now expected to be much higher.

When you consider that Truffle Suite a key tool in developing Solidity smart contracts had over 8.5 million downloads and was relied upon by 1.3 million developers by 2020, you could now expect the number of Solidity developers to be in the millions.

The Truffle Suite recently integrated the Tezos blockchain into its offering and Truffle for Tezos is currently in the experimental stage.

LIGO is a high level, statically-typed language for smart contracts that compiles down to Michelson. Michelson is a domain-specific language for writing Tezos smart contracts.

The Sol2Ligo handbook includes a few different features to help developers with the switch. These include an integrated transpiler allowing experimentations with Solidity and LIGO constructions, a step-by-step guide, and a code launcher to create and test your code examples on Ligo.

It was stated by Madfish Solutions:

“Our transpiler understands Solidity so well that maker-dao is already compiling to Ligo.”

Cheaper deployments and transactions

With transaction costs on the Ethereum network spiralling out of control, it makes sense for Ethereum dApp developers to widen their horizons. Average transaction fees on Ethereum are around $20.- this month.

Basic transactions on Tezos will cost you 0.0004 XTZ (Currently $0.0016), which is over 12,500 times cheaper than an average transaction on Ethereum.

More complex transactions like interactions with smart contracts cost more (in the case of tzcolors, $0.01). That is about 2,000 times cheaper than an average transaction on Ethereum.

Higher capacity and quicker to evolve without sacrificing decentralization

Tezos has a higher tps (transactions per second) compared to Ethereum. Tezos has a max tps of ~120, where Ethereum has a max tps of ~30. This capacity does depend on the complexity of the transactions.

A simple transaction of funds will take less “space” in a block compared to a complex smart contract execution. So the type of transactions that take place at a certain time, influences how many transactions fit in a single block, which in turn influences the amount of transactions can be processed per second (tps).

So tps is always a tricky metric to use, but if we compare the max tps, we do get a good idea of the capacity of a blockchain. Tezos outranks Ethereum here, which makes it a lot less likely to clog up. In other words: transaction costs on Tezos would not be this high with the same amount of traffic that Ethereum handles today.

Additionally, Tezos’ on-chain governance system also enables faster evolution. That means that if Tezos faced the same issues that Ethereum is currently facing, it could be addressed and solved a lot faster without sacrificing decentralization.

In fact many low-hanging fruit scalability optimizations have already occured in past Tezos upgrade amendments. In the Delphi upgrade, smart contract transaction fees were reduced by 75% in just one upgrade.

Like Ethereum, Tezos is built as a true decentralized blockchain. No single entity, or small group of entities can dictate what happens on Tezos. Even protocol changes are implemented in a decentralized manner.

The way this governance system is designed means it can implement improvements and reach consensus on a core protocol upgrade within months. This has resulted in 5 protocol upgrades in 3 years so far.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at info@xtz.news. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

[gravityform id="3" title="false" ajax="true"]

Other News

View More
Tezos Robinhood

Robinhood Adds XTZ to Its Cryptocurrency Offerings for New York

Robinhood, a popular trading platform known for democratizing access to financial markets, has expanded its cryptocurrency services in New York State by adding Tezos (XTZ) to its list of available digital assets. This development allows New York-based users to buy, sell, and trade Tezos, enhancing the cryptocurrency’s accessibility…

Read More

Tezos X: A Vision for the Future of Blockchain

Today, Tezos X has been unveiled, presenting a forward-looking vision for Tezos that marks a significant evolution from its original design. According to the official blog, this vision addresses some of the most fundamental issues in the blockchain space, aiming to enhance usability and utility while maintaining the core properties of blockchain technology.

Read More

Werenode: Fusing Blockchain Brilliance with EV Charging Innovation

As electric vehicles (EVs) become more prevalent, Werenode is leading the charge by revolutionizing the EV charging infrastructure through blockchain technology. By leveraging Tezos and Binance blockchain technology, Werenode aims to simplify the EV charging process, ensuring secure, transparent, and immutable transactions. Their approach tackles key challenges in the industry, such as network fragmentation, interoperability, and complex payment systems.

Read More