Multiformats

Multiformats

The Multiformats project is a collection of a series of protocols. Based on the existing protocols, the value (value: usually has a certain expressive meaning) is self-describing and transformed, that is, how the value is generated can be known from the value. Does it sound a little difficult to understand? Use specific examples to explain as follows.

The transaction volume of Multichain reached a new high, and the 24-hour cross-chain amount reached 1.2 billion U.S. dollars: According to news on January 20, the 24-hour cross-chain amount of the Multichain (formerly Anyswap) cross-chain agreement reached 1.2 billion U.S. dollars, and the total locked funds reached 9.4 billion U.S. dollars. A record high. At present, the total cross-chain amount of Multichain has reached 42.4 billion US dollars.

Multichain recently officially disclosed a security loophole in the contract authorization of 6 cross-chain tokens WETH, PERI, OMT, WBNB, MATIC, and AVAX. It tweeted several times to remind authorized users to cancel the authorization immediately to ensure the security of funds, and expressed the loophole It has been fixed in time, and all other tokens and their cross-chain transactions are normal. [2022/1/20 9:02:22]

The current Multiformats protocol includes protocols such as Multihash, Multiaddr, Multibase, Multicodec, Multistream, and Multigram.

Paradigm member Anish Agnihotri launched MultiFaucet on GitHub: On November 14th, Paradigm member Anish Agnihotri launched MultiFaucet on GitHub. MultiFaucet can release ETH, token and NFT on multiple testnet networks at one time. [2021/11/14 6:51:02]

Take Multihash as an example. Usually, the hash calculation method we use is a certain implementation, such as sha1, sha2-256, etc. Hash calculation can be seen almost everywhere in our software engineering, especially blockchain projects.

Eden Network Completes $17.4 Million in Seed Round Financing Led by Multicoin Capital: Jinse Finance reported that Eden Network, the Ethereum priority transaction network, raised $17.4 million in seed round financing led by Multicoin Capital, with participation from Jump Capital , Alameda Research, Wintermute, GSR and Defiance Capital, as well as angel investor Yearn.Finance founder Andre Cronje and Genesis Capital derivatives director Joshua Lim participated in the investment.

The new funds will be used to support the adoption of the new network by developers, miners and users. Eden aims to protect Ethereum traders from the threat of miner extractable value (MEV).

Note: Eden Network is a project initiated by the Archer DAO team. The team raised $1 million last year through the ARCH token sale. EDEN tokens now represent a technological upgrade to ARCH tokens, and ARCH holders can upgrade 1:1. In addition, Eden Network was officially launched in early August, aiming to resist malicious MEV attacks. (Cointelegaraph) [2021/9/8 23:10:24]

Multiformats unifies all hash value calculations into the same format, which will bring many benefits to system developers, such as encryption function upgrades, etc.

Tags：MultiformatsIPFS

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