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Fantom Founder Andre Cronje Reflects On Bitcoin & Ethereum’s State Bloat Problem

Fantom co-founder Andre Cronje, known as the godfather of decentralized finance (DeFi), further raised concerns over probabilistic finality in blockchains including Bitcoin and Ethereum as the market sees expanding use cases and adoption in traditional finance. He said Fantom has already solved state bloat as Ethereum developers look to solve state bloat in the chain.

Andre Cronje Says Fantom Has Resolved State Bloat Issue
In response to Ambient Finance f
ounder Doug Colkitt’s belief that Ethereum is the o:vc"nly chain looking to solve state bloat in its long-term plan, Andre Cronje said “I am pretty confident in saying we already solved state bloat at Fantom.”

Ethereum roadmap entails using Verkle trees to allow for “data to be small enough to be attached to every block.” It could help validators and nodes to become stateless as all ‘state’ can be stored more efficiently off-chain.

However, Andre Cronje said any blockchain that uses probabilistic finality or any variant of the longest chain rule won’t resolve this issue. Bitcoin and Ethereum chains depend on probabilistic finality. Finality refers to when a block of transactions is considered permanent and cannot be altered or reversed.

Fantom uses aBFT (Asynchronous Byzantine Fault Tolerance) consensus mechanism, which does not require the longest chain rule.

Moreover, Fantom introduced the new database Carmen, a flat storage method that does not use tree or dictionary structures while maintaining a cryptographic signature of the world state. This greatly reduces the bloat of the current active state (two epochs). Carmen supports real-time pruning, and although archive nodes still need to retain all data, most validators can enable pruning.

After adopting the above technology, Fantom’s status is reduced from about 2TB (archive) to 60GB (archive). Cronje said state bloat has been one of Fantom’s core milestones since its early days.Moreover, Fantomɓintroduced the new database Carmen, a flat storage method that does not use tree or dictionary structures while maintaining a cryptographic signature of the world state. This greatly reduces the bloat of the current active state (two epochs). Carmen supports real-time pruning, and although archive nodes still need to retain all data, most validators can enable pruning.

After adopting the above technology, Fantom’s status is reduc<hyhmew

https://coingape.com/fantom-founder-andre-cronje-reflects-on-bitcoin-ethereums-state-bloat-problem

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😳The head of the LGBTQ Dems of Maryland BUSTED 😳

⚠️WARNING: Foul Language, DO NOT PLAY if around younger kids.

♻️Get this out there before it's taken down..♻️

🤯WOW The head of the LGBTQ Dems of Maryland BUSTED going after a 14-year-old online. 😳 Groomers are about to be mad.🤯

Shocking and disturbing news 🚨 🤯 This is unacceptable....

00:00:54
⚠️ Senior VP of Disney: "There's no way we're hiring a white male" ⚠️

⚠️ Senior VP of Disney: "There's no way we're hiring a white male" ⚠️
👉 Stop funding companies that are racial. 🖤🤍🛑
👉 We all bleed red.❤️
👉 Boycott Disney.⛔
👉 Pass it on.♻️

00:20:47
💥Fantom's Michael Kong Talks about the new $S Coin💥

Fantom Foundation posted at 10:24 AM on Fri, Jun 07, 2024:
At Consensus 2024, Michael F Kong talked about our new $S token and its utility:

💱 1:1 compatible with existing $FTM token at genesis

💻 #Sonic validators staking $S can participate on new L2 bridge to earn more fees

🎊 Upcoming airdrop and grant programs

Watch now 👇

00:02:03
🔥VeChain CEO Sunny Lu and BCG’s Managing Director & Senior Partner, Guy Gilliand Discuss The Future Of Blockchain 🔥

VeChain CEO Sunny Lu and BCG’s Managing Director & Senior Partner, Guy Gilliand, are meeting to discuss the future of blockchain, Web3 & sustainability - as well as plans for the future of our global partnership.

👀 A Miner Wallet, Dormant For 15 Years Comes To Life 👀

👉 A miner wallet woke up after being dormant for 14 years and deposited 50 $BTC ($3.05M) to Binance exchange.

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⚠️ It Doesnt Get Easier Than This! ⚠️

⚠️ You're just one step away from receiving your Dragonz egg. Tap the screen to earn Dragonz Gold, setting yourself up for the epic $Dragon #AIRDROP coming to #DragonzLand.

👉 It does not get any easier.

https://t.me/dragonz_land_bot/app?startapp=ref-666352df1cd18b3e195f8093

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🪂Groundbreaking Airdrop Alert: Cryptocom Unveils Ambitious Network with Potential for Largest Airdrop of 2024🪂
💎FREE with a potential profit of: $1,000+💎

I am pleased to announce that I will be sharing this extraordinary AIRDROP opportunity with the broader community, as I believe its potential benefits are too significant to be limited to my loyal supporters alone 💎~The Dinarian

🚀 Cronos, the EVM-compatible chain in the Cosmos ecosystem, launched by Crypto.com, with a whopping $2.5B Market Cap and always-announcing Community Giveaways, is getting ready to drop some serious value to the crypto community! 💸

🎉 They've announced an AIRDROP for participants who complete the tasks below celebrating the new Cronos zkEVM:  🔓 Don't miss this opportunity to get in on the ground floor of this massive project! 🚀 The potential is huge, and you won't want to miss out on this chance to grow your crypto portfolio! 💸 Let's get started... 💎 

Currently trading around $0.09 on exchanges, don't miss out on this potential gem!💎

🚨 With significant investment pouring in, this opportunity is expected to be massive! 🤯 Don't miss out on this chance to get in on the ground floor. Follow the guide below for a spot in the Airdrop claim- don't wait until it's too late!🪂

 

What To Do:🚀

👉 First we need to set up metamask or Rabby Wallet on the Cronos zkEVM testing network:

💎 Head to Chainlist.org by clicking the image below and look for Cronos zkEVM Testnet 

💎 Connect your Metamask or Rabby wallet to the platform

💎 Click on "Add to MetaMask/Rabby" to integrate Cronos with your preferred wallet and follow the prompts to switch to the Cronos zkEVM test network.

 

👉 Next let's dive into the Cronos Test Network!

 👉 We need ETH TESTNET funds from the Sepolia Faucet:

💎 Go to: the Ethereum Sepolia Faucet and create an account

💎 Copy and Paste your Metamask/Rabby wallet address in the box provided

💎 Click "Give me ETH" to get your free test gas and follow your wallet prompts

 

👉 We need zkTCRO CRO testnet funds from the Ethereum Sepolia contract:

💎 Go directly to the faucet contract here:

💎 Connect your Metamask/Rabby Wallet

💎 Enter amount of 0.0011

💎 Click "Write"

💎 Confirm the transaction in your wallet

👉 Next we need to BRIDGE those new funded tokens over to the Cronos zkEVM wallet:

💎 Go to the Cronos zkEVM Bridge HERE

💎 Connect your Metamask/Rabby wallet

💎 Enter the amount of .00001 to bridge or hit MAX

💎 Click on Deposit

💎 Confirm the transaction in your wallet by following the approval-deposit prompts

💎 Wait approx 3-4 minutes for funds to bridge.

👉 Next we to get the zkCRO testnet tokens from the Cronos Faucet:

💎 Go to the zkEVM Faucet Here

💎 Paste your wallet address in the box

💎 Click "Get zkTCRO"

👉 Next we need to register with the Cronos Labs zkEVM Website (Note: You may get warnings from your system due to being a new website testnet, override and keep going..)

💎 Go to the Cronos Labs zkEVM website HERE

💎 Log in with your wallet

💎 Input your valid email address

💎 Click "Register" and approve the transaction in your wallet

👉 Next we are going to complete the necessary transactions to qualify for the Airdrop.

💎 Go to Cronos zkEVM transaction page Here

💎 Copy and Paste your Metamask/Rabby wallet address

💎 Send 1or 2 zkTCRO to it

👉 Click on the RED transaction hash to verify the transaction was successful

 

👉 Next we are going to create a custom token on chain (Using the Rabby Wallet ONLY)

💎 Disable Metamask under extensions, then go to your preferred app store and Download Rabby Wallet if you do not already have the extension in your browser.

💎Go back to chainlistorg website and connect Rabby to set it up with the Cronos zkTestnet 

💎 Go to the Token Generation page Here

💎 Create a custom token name eg "Dinarian"

💎 Create a 2-3 character custom token symbol eg "DN"

💎 Enter the amount to be minted eg "1"

💎 Click "Create"

💎 Verify transactions and new token creation via the RED links on the bottom of the page.

💎 You can remove Rabby wallet and turn Metamask back on in your browser extensions or keep         the Rabby wallet if thats your preferred wallet, it's entirely up to you! 

👉 Next we are going to check off and complete the rest of the quest on Galaxe.

💎 Go over to the Galaxe website Here

💎 Check off and Complete all available tasks 

💎 Add Cronos to your watchlist by checking the star

💎 Bookmark the website & check back to see if any more quests are added in the future.

Congratulations🎉 you are now set up for possibly the most bountiful AIRDROP of 2024, and possibly of all time. The Cronos chain is the same chain that runs the Crypto.com central exchange in the Cosmos ecosystem using IBC technologies. CRO is bound to be a 💎 in the future as it is one of the easiest exchanges to use via the Crypto.com APP that you can download from HERE if you don't have it yet. I use it mainly because it has Tfuel and a few other hard to get tokens on it, and it's so convenient.. ~The Dinarian

 

 

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Announcing the launch of EdgeCloud Elite Booster feature as part of Edge Node v5.0.2

Theta has entered a new era in 2024 with the release of EdgeCloud, one of the most advanced decentralized software platforms in edge computing. Its mission is to provide developers, researchers and enterprises large and small with unlimited access to GPU processing power for any AI or video task, at the most optimal cost. EdgeCloud’s vast processing power and Theta’s access to an additional 800+ PetaFLOPS through its strategic cloud partners can deliver upwards of 2500 equivalent NVIDIA A100s. This approach brings the best of Cloud computing to a decentralized system, powered by the Theta Edge Network.

Now with the release of the Elite Booster upgrade (Edge Node v5.0.2), users are empowered to earn TFUEL and partner TNT-20 tokens for performing GPU AI tasks. This new phase for EdgeCloud means edge node earnings have greatly increased. With the first paying EdgeCloud customers being onboarded now, this new era of EdgeCloud promises to be a successful one!

(If you want to skip straight to instructions on how to upgrade your node to Elite Booster, please see the support article and FAQs).

On May 1st the first version of EdgeCloud was released, giving AI developers the tools and dashboards they need to start using EdgeCloud. From Stable Diffusion text-to-image and text-to-video, to Meta Llama 2 and Google Gemma LLMs, to the CodeLlama coding model, EdgeCloud supports jobs from the top open-source AI models. V1 includes these open-source AI models as templates to choose from, and provides easy configuration and deployment in a few clicks.

Now, the next phase of EdgeCloud is here with the release of the Elite Booster feature, enabling all edge node operators to participate in next-gen AI and computing jobs enabled by EdgeCloud. After staking the maximum 500k TFUEL, elite edge node users can earn even more from EdgeCloud jobs by locking additional TFUEL for various time periods from 3 to 12 months, earning up to 50% more job rewards. Currently, earnings are primarily based on cloud-based GPU performance, utilization and total amount of TFUEL locked by Elite Booster users.

Elite Booster users can expect compute jobs reward as much as 2x-4x the current TFUEL staking-only rewards. These figures are for reference only and can vary widely depending on a number of factors but over time we expect earnings to track the adoption and utilization of EdgeCloud.

For all the details on running an Elite Booster node, see the instructions here and the FAQs here. With edge node earnings greatly increasing, new job types available to customers, and the first paying customers onboarding to EdgeCloud now, this new phase for Theta will be the most impactful yet!

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Theta EdgeCloud June 26 Release Details — Elite Booster Node Q&A

📣As we mark the recent release of the Elite Booster Node on June 26, I'm revisiting an important article that provides a comprehensive overview of the EdgeCloud's latest development. For those who may have missed it initially, this article delves into the intricacies of the EdgeCloud's newest addition, the Elite Booster Node, and its potential to revolutionize the way we approach decentralized computing. With the nodes now live, I'm re-sharing this article to refresh everyone's understanding of the EdgeCloud's capabilities and the exciting opportunities that lie ahead. 

 

We are going to begin to SEE, ALL THINGS THETA ACCELLERATE, TX SPEED, USE CASES.. EVERYTHING ~The Dinarian 💎📊

 

 

With the excitement leading up to EdgeCloud release, we’ve seen many questions from the Theta community on how the Elite Booster node upgrade will work and how much they can earn. Let’s address some of the top topics on this exciting new feature for edge nodes:

  1. How do I qualify as an Elite Booster node for EdgeCloud jobs?

You must be running an Elite edge node with a full 500k TFUEL staked from a single non-delegated source wallet. After June 26, a new Elite Booster feature will enable you to lock additional TFUEL and earn rewards from jobs completed through high-end EdgeCloud GPUs hosted by Theta Labs.

2. I stake my TFUEL on other people’s edge nodes, do I still qualify?

You must run and stake to your own Elite edge node with the full 500k TFUEL in order to participate in the Elite Booster program. While we won’t verify the ownership of any wallets (as in KYC), whichever wallet stakes the full 500K to an EEN will be eligible for locking additional TFuel for Elite Booster rewards.

3. I have 500k TFUEL staked to my Elite edge node from three wallets, do I still qualify?

No, you need to have the full 500k staked to your Elite edge node from a single non-delegated wallet. We recommend that you unstake from the three wallets and restake from a single wallet.

4. Is there a maximum amount that can be locked to a single Elite Booster node?

Yes, an additional 500k TFUEL can be locked on top of the base 500k TFUEL staked to the node, for a total of 1M TFUEL per Elite edge node. This is a change from the original white paper to avoid a potential drop in the total number of Elite edge nodes on the Theta network. The additional 500k TFUEL must come from the same wallet as the base 500k TFUEL.

5. Is there a locking period, and can I mix and match?

Yes, there will be an option to lock your TFUEL for 3, 6, and 12 months, starting from the day that you lock and are based on 1143000, 2286000, and 4572000 blocks respectively so there could be some time variance. You can lock any combination of 3–6–12 months up to the maximum of 500k TFUEL per Booster node. For example, you can lock 200k TFUEL for 3 months, another 200k for 6 months and 100k for 12 months.

6. Do longer locking periods earn greater bonuses and are all rewards in TFUEL?

Yes, the 6-month option will earn 25% more than the 3-month option for the same jobs, and the 12-month option will earn 50% more than the 3-month option. For example, if your 3-month lock earns 10,000 TFUEL per month, then locking the same amount of TFUEL for 6 months will earn 12,500 TFUEL per month, and 15,000 TFUEL per month for the 12-month lock.

As for rewards, they aren’t limited to TFUEL as some EdgeCloud partner jobs will be paid in TNT-20 tokens.

7. Does the locked TFUEL leave my wallet and earn base TFUEL staking rewards?

The locked TFUEL is sent to a smart contract that will enforce the locking periods, so they will not be available in your wallet. When the locking period ends, you can withdraw that TFUEL back to your wallet subject to the standard cooldown period of 30,000 blocks, roughly 2.5 days. The additional locked TFUEL will not earn base TFUEL staking rewards, only EdgeCloud job rewards. In the future, we may change this and enable base TFUEL staking rewards on top of job rewards.

8. How much will Elite Booster nodes earn?

First, the locked TFUEL to Elite Booster nodes should earn more from EdgeCloud jobs than the current ~7% APY from TFUEL staking rewards. You will earn a proportional amount to the total TFUEL locked by all Elite Booster nodes. For example, if you lock 500k TFUEL for 12 months, and a total of 50M TFUEL is currently locked across all Elite Booster nodes, then you will earn 1% of the total EdgeCloud job rewards plus 0.5% bonus for the 12-month option.

Note: this only applies to the amount of TFUEL locked beyond the base 500k staked to your node. In other words, the base 500k TFUEL is not counted towards the Elite Booster job reward calculation.

In addition to TFUEL, you can also earn other TNT-20 tokens from partner EdgeCloud jobs. For planning purposes, if the allocated EdgeCloud GPUs are utilized 80%-100%, then you can expect to earn between 14%-28% APY on your locked TFUEL, depending on a number of variables including the lock period. This is in aggregate across all rewards paid in TFUEL and TNT-20 tokens, and are subject to change.

9. Where do the additional TFUEL and TNT-20 tokens from EdgeCloud job rewards come from?

The TFUEL job rewards will come directly from EdgeCloud customers and partners paying with either fiat currency through the Stripe integration or with TFUEL directly. Initially, some job rewards will also come from in-house Theta projects including the AI showcase, Generative AI Art campaigns, and other community projects to be announced. To be clear, the additional TFUEL does not come from the current TFUEL inflation and will not increase TFUEL inflation in any way. Partner EdgeCloud jobs can also be rewarded in TNT-20 tokens.

10. What happens if I unstake the original 500k TFUEL from the Elite edge node?

If you unstake the base TFUEL and your stake balance is less than 500k, you will no longer qualify for Elite Booster and will stop earning EdgeCloud job rewards. The 3/6/12 lockup period will continue to be enforced; however, you can re-stake to the same edge node and top up to the original 500k and start earning again.

11. Will I earn more Elite Booster rewards if I upgrade my hardware now?

At the moment, we do not recommend upgrading your hardware and as it will not impact EdgeCloud job rewards from cloud hosted GPUs. However, this may change in later releases with the full rollout of the hybrid cloud-edge computing platform later in 2024–2025. For the June 26 edge node client release, cloud-hosted EdgeCloud jobs will be rewarded the same regardless of hardware specs. However, with better GPU your Elite edge node will earn more from standard edge node jobs, and CUDA-enable machines will earn even more.

12. Will earnings from Elite Booster accumulate in a pending balance or will they be available as they are earned?

They will be in a pending balance, to be distributed once per month.

13. Will Theta Labs be staking their TFUEL supply in the new Elite Booster program?

No, Theta Labs will not stake their TFUEL.

14. If I run an edge node and someone else staked the 500k TFUEL, would my Elite edge node not become a Elite Booster node?

This Elite edge node will be an Elite Booster node, but the rewards would go directly to the staker wallet (i.e. someone else’s wallet). To prevent this from happening, please don’t share the node summary with others.

15. Why aren’t all users allowed to participate with an Elite Booster node?

Any user can already stake their TFUEL to upgrade to an Elite edge node and earn higher job payouts. Elite Booster is the next level of commitment to the platform to unlock cloud-based EdgeCloud job rewards.

 

 

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