Good morning pNetworkerzzz ✨
My name is Yannick (y4nnickdez4 on TG 📩) and I will be the voice & pen of our Monthly Updates 🧑🏽🦱🖊️
A nice starter?
Forget your espresso and upgrade your daily caffeine intake by joining the matcha latte movement! 💚
It is our second Monthly Update 🥈🎉,
a place where we share the progress of the pNetwork Community Association and sum up all the big announcements relevant to our community 📢
But more than this!
It’s a good spot for you to get to know our team more intimately, the brains and minds behind our products.
Wait. Someone forgot to turn on the AC? It’s way too hot in the room 🥵🥵🥵🥵
It might be the presence of our stellar team! A rare footage from last month of Matteo, Mauro, Ulisse, and Enrico, reunited to break code, fix stuff, build bridges, advance humankind and pNetwork’s vision into the future 💫🪐☄️
A special round of applause 👏🏻👏🏻👏🏻 to our Chief Lacquer Officer Carbonaut, for its unique ability to preserve the shape of his hair intact under the most challenging conditions.
Back to the serious stuff.
Welcome to the devs corner 👨🏻💻👩🏼💻🧑🏽💻💫
i.e. the most precious corner of the pNetwork Community Association!
A place where fingers slide fast on the keyboard. Problems get troubleshoot. Infrastructure is built.
This month, the work of our devs has been divided into preparing two battlegrounds:
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pNetwork v4
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Multiproof Labs (soon to be rebranded 👀)
Let’s dive into each of them!
1. pNetwork v4: a leap into the future 🪐
Wait a minute.
Weren’t we talking about v3 until yesterday? Yess you are right!
After a long period of architecture review, study and validation with our nodes, our cde wizards 🧙🏼♀️ embarked in a set of changes and updates, so transformative that it didn’t fit anymore in the boundaries of the “older” v3 architecture (designed more than 12 months ago).
The result?
The birth of pNetwork v4, a new leap forward in achieving our vision of decentralization ✨
We will deep-dive on pNetwork v4 on a separate communication soon 🔜
As a little teaser, I’ll just say that pNetwork v4 (“Plug & Proof” 💪🏽) shifts away from the protocol as you know it and transforms pNetwork into a fully decentralized proving tool for cross-chain use cases.
More on it later on, so stay tuned 🔌
2. Multiproof Labs: where the real edge is built 🧪👨🏼🔬
I know some of you might still find it puzzling, so let’s answer this simple question together: what's Multiproof Labs? 🧐
Multiproof Labs is our ambitious R&D initiative that wants to expand the concept of cross-chain bridging from light client and message passing, to include any cross-chain state and to provide a diversified, on-demand way to select and validate such state.
How?
By leveraging two of the most popular, trust-minimized technologies used today: Trusted Execution Environments (TEE) and Zero Knowledge proofs (ZKp).
Does it ring a bell? 🔔
As with most things in life, there are pros and cons with both.
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While TEE-backed proofs are significantly faster and present a cheaper on-chain verification process 🚙💨, they might raise security concerns, due to their recent history of security breaches ⛑️
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ZKp’s on the other hand provide stronger cryptographic guarantees of as-expected execution🔐, although they are slower and more expensive 🐌
We are using libraries such as Succint’s SP1 and Risc0, which allow to perform arbitrary computations inside of a RISC-V virtual machine (VM) with a ZK proof of their execution.
Aaaaaannddd…… the first light client is live! 💫
It is a prover for Bitcoin blocks, proving the chain's integrity, transactions, and proof of work on a per-block basis (you find the public repository here)
Our second product is a TEE-VM, a tool builders can use to access and verify states across different blockchains. We are currently in the phase of launching this spinoff with a new brand and more details will be shared in the next days!
Want to follow up more closely?
The team has set up an automated process on GitHub to update and maintain this documentation. All info is easily accessible and kept current!
Partnerships & Initiatives 🤝🧚🏻
This corner is for the code noobs who had to reconvert to something called business development. Very useful, don’t get me wrong.
The main updates can be summarized by two quotes:
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“Be the change you want to see in the world!✌🏽💛”, &
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“You can't move a rock by yourself. You need a lever to change the direction of that rock 🪨⚒️”
Let’s get into the meaning of each one.
Be the change you want to see in the world! ✌🏽💛
The real power of our DAO? Everyone can make a difference.
Today, a new liquidity pool EFX-PNT is live on Pancakeswap 💥
⬇️⬇️⬇️
Concretely, it means better liquidity for token holders and improved trading volumes in the future.
It also means a step forward in the execution of one of our pillars (if you don't know what pillars, here is a refresher from the Community Call)
What's special about it?
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It started with one of our partners, Effect.ai, reaching out on pNetwork community channels;
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It was crafted and curated by a DAO member;
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Proposed and voted on pNetwork DAO;
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Approved;
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Sbam 💥
pNetwork’s resilience lies in the strength of its DAO: a living proof of the real leverage of the decentralized governance we have built over the months, with its freshly minted fruits 🍒
And this is just the beginning!
So if you are as proud as I am about our values, please make some noise on X 📢
“You can't move a rock by yourself. You need a lever to change the direction of that rock.” 🪨⚒️
In a world of rising interest rates, who is brave enough to bet against the environment and secure loans for growth?
Us! 🙋🏻♂️
The DAO has approved PIP-39 to provide a loan of 1.6 million PNT tokens to the pNetwork Community Association to operate four nodes.
The loaned tokens are staked into the DAO and they are NOT into circulation.
This loan aims to cover a portion of the operational costs of the Association, without impacting the PNT token's market price by selling any tokens in the market.
As you all know, we’ve been running low budget for a while. We want to keep our operations going and achieve our mission, while making sure stuff gets done without inflationary pressure on our token.
With this solution, it is a win-win-win-win situation.
Well, I guess that’s all folks! 👋🏽
Is there something you would like to read in our Monthly that hasn’t been included? Write me at @y4nnickdez4 on Telegram and I will make sure to include it in next month’s review!
The pNetwork Community Association is a Swiss association led by community members who are long-term supporters of pNetwork as a technology, token and protocol. It aims to contribute to the development, growth and education of anything pNetwork related.
pNetwork is a protocol that enables cross-chain operations, such as transferring assets from one blockchain to another. It is designed to provide interoperability between different blockchain networks, allowing users to take advantage of the unique features and capabilities of each network while still being able to access and use their assets on other networks.