What is Dymension? Dymension is a Modular Blockchain created to solve the limitations of monolithic Blockchain, also known as Monolithic Blockchain. The project is also the infrastructure for developing highly scalable RollApps. So what is Dymansion? Let’s find out in the article!
To better understand Dymension, people can refer to some of the articles below:
- What is Modular Blockchain? All About Modular Blockchain
- What is Cosmos (ATOM)? Cosmos Cryptocurrency Overview
- What is Layer 2? Complete Guide to Layer 2 Solutions
Dymension Overview
What is Dymension?
Dymension is a Layer 1 Blockchain built with the Cosmos SDK, using infrastructure and especially the ability to connect the Cosmos ecosystem through IBC Bridge. But Dymension is designed with a Blockchain Modular structure, separating the parts and being able to replace or upgrade each part.
Dymension’s blockchain uses the Proof-of-Stake consensus mechanism provided by the SDK toolkit. And use Tendermint software to connect the Network Layer with the Consensus Layer, providing a very intuitive interface for construction.
Dymension is the basis for RollApp development by providing an underlying layer (Consensus, Settlement) that can connect to Celestia’s DA layer, Avail. Clearly separated layers, providing customization and freedom are the hallmarks of Modular Blockchain.
RollApp is a Layer 2 Rollup built on Layer 1 Dymension, which is also a dApp chain. RollApp is based on the Dymension RDK toolkit, which is inspired by the Cosmos SDK and offers many tweaks to fit a Rollup Chain.
RollApp is mainly operated by Sequencer like other Layer 2. But RollApp’s Sequencers need to stake or lock shares with DYM Tokens like Validators on Layer 1. When a Sequencer commits wrongdoing, its stake will be cut to reward the prover and burned.
Dymension Hub (Cosmos SDK Proof-of-Stake Chain uses the Tendermint Core state replication model for networking and consensus. In contrast to the monolithic blockchain, Dymension’s payment layer, also known as the Hub Dymension, is specifically designed to provide optimized services for aggregation. Therefore, the aggregation service logic is kept in the resolution layer, creating a hub for native interoperability between RollApps.)
Technology
Dymension is built according to a Modular structure with separate parts connected to each other thanks to Tendermint Core. With this structure, the project offers many choices for RollApp developers, who can choose the execution environment and data storage location. Thanks to that, RollApps have fast speed and extremely cheap fees.
The RollApps that can develop execution environments are EVMOS EVM – EVM smart contract built by the EVMOS team, Polaris EVM – EVM smart contract built by the Berachain team or CosmWasm – Wasm framework built by the Confio and Cosmos contributor.
RollApp is Layer 2 using Optimistic Rollup technology, applying Fraud Proof to prove transactions. In this respect, RollApp is like Layer 2 Optimism or Arbitrum, after a while no one complains, the proof is assumed to be correct.
RollApp’s tokens are used to pay its network fees. This is possible thanks to AMM on the Dymension Hub itself. This AMM creates liquidity to convert payment tokens or can support cross-asset transfers.
AMM provides liquidity for payments and cross-chain asset transfers. Any dApp on RollApp can also easily integrate this AMM to provide liquidity and support transactions on the application chain.
Mechanism of action
Transfer assets with IBC Bridge
Dymension allows RollApps to communicate with each other through the IBC Bridge developed by Cosmos. Thanks to IBC, RollApps can easily communicate or transfer assets with Layer 1s of the Cosmos ecosystem. Assets are locked on the source chain and new mints on the destination chain. The transaction will be confirmed by Dymension Hub so it has a very high level of safety and security.
Dymension’s mechanism of action
- Users make transactions on RollApp.
- Transactions will be verified by Sequencer and then collected into a block.
- The Sequencer sends that block as Call Data to Dymension Hub and sends the block’s transaction proof to the DA layer.
- After the DA layer returns the path to the stored evidence, the Sequencer will confirm the current state of the RollApp and send the state information, also known as State Root, and the path of the evidence to Dymension Hub.
Since blocks are generated optimally and do not require active network validation, Sequencer can generate blocks with low request times.RollApps can maintain an average latency of 0.2 seconds with TPS The maximum is about 20,000 transactions.
Development Roadmap
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Core Team
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Investors
- February 9, 2023: Private round successfully raised $6.7M led by Big Brain Holdings, Stratos Technologies and participation from MatchboxDAO, Shalom Meckenzie.
Tokenomics
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Exchanges
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Dymension’s Information Channel
- Website: https://dymension.xyz/
- Twitter: https://twitter.com/dymension
- Medium: https://medium.com/@dymension
- Discord:
Summary
Dymension is a Modular Blockchain that brings scalability to RollApps. Create favorable conditions for developers to build their own application chains. Dymension leverages Cosmos infrastructure and tools to develop an RDK toolkit specifically for RollApp. The RollApp ecosystem can connect to each other and connect to the entire Cosmos ecosystem through the IBC Bridge.
So I have clarified what Dymension is? Dymension cryptocurrency overview. The project shows its extremely good scalability and application. In the Cosmos ecosystem, in addition to Celestia, Dymension is also a Modular Blockchain worth looking forward to.