Harry

Lumos

Polygon

The popular Rollups-as-a-Service (RaaS) provider Opside has <a href="https://hackernoon.com/opside-is-now-lumoz-initiating-the-zk-raas-era">announced</a> that it’s rebranding to “<a href="https://lumoz.org">Lumoz</a>” in a move that’s designed to reflect the project’s expansion and avoid any confusion over its purpose.&nbsp; 
The original concept behind Opside was a RaaS platform that provided various services for developers to <a href="https://docs.lumoz.org">build and deploy specialized Rollup networks</a> for decentralized application use cases. Rollups are a popular scalability solution that enables faster and cheaper transactions while maintaining the security of the underlying blockchain.&nbsp; 
Lumoz announced the move earlier this month, saying that it is appropriate to rebrand the project at this time due to its rapid growth over the past year. The project launched its testnet at the end of May and has seen its network grow to number more than 240,000 users, with 25,000 <a href="https://lumoz.org/validator/overview">validators</a> and over a hundred <a href="https://lumoz.org/miner/overview">proof-of-work miners</a>. In addition, more than 15 individual projects have already launched <a href="https://lumoz.org/rollup/overview">customized zkEVM application chains</a> on its platform.&nbsp;&nbsp; 
&nbsp; 
<h2 id="a-more-appropriate-name">A More Appropriate Name</h2> 
In a blog post, Lumoz explained that many users were confused by the name Opside and incorrectly assumed it was focused on “optimistic rollups”, which are a different kind of scaling solution. Another reason for the change is that “Opside” was derived from the word “operator”, due to its positioning as a RaaS operational platform. However, the project has expanded its scope to include ZK-Rollup Launchbase, ZKP Two-step Algorithm, NCRC protocol, and other important user features. As such, Lumoz can no longer really be summarized as an “operator”.&nbsp; 
The new name, Lumoz, is derived from the Latin word for light, “Lumos”, and inspired by the world of Harry Potter, where a Lumos spell illuminates the tip of a magic wand to create light. The team decided it was an appropriate term to describe their own project, and swapped out the “S” for the “Z” to associate itself with the “zk” or zero-knowledge technology it’s building.&nbsp;&nbsp; 
&nbsp; 
<h2 id="looking-ahead">Looking Ahead</h2> 
Going forward, Lumoz says it remains totally committed to driving adoption of ZK-Rollup technology, which it will continue to do by building out its ZK-RaaS platform.&nbsp; 
To that end, Lumoz has lots of ambitious plans to build on the progress it has already made this year. On its roadmap are plans to expand the number of L1 blockchains it supports. Lumoz currently offers support for zkEVMs such as Polygon zkEVM and zkSync, and it wants to add Scroll, StarkNet, and additional chains to that list by the end of the fourth quarter, making its platform available to more developers.&nbsp;&nbsp; 
It’s planning more features for the recently launched ZK-Rollup Launchbase, saying that it only provides the absolute basics at this point. In the future, it will add more modular components and further functionality to simplify the deployment of zkEVM application chains.&nbsp; At the same time, Lumoz wants to expand its ecosystem, which currently numbers almost 100 projects across DeFi, NFTs, GameFi, SocialFi, and blockchain tools.&nbsp; 
Another key area of focus pertains to building out the Lumoz miner ecosystem and lowering the barrier to entry in terms of the required resources to participate. It says that the growth of ZK-Rollup technology will place huge demands on the available computing power. Lumoz incentivizes miners to provide these resources via its ZK-PoW mechanism, but it still needs more contributors. To entice more users to become miners, it’s focused on lowering the CPU and GPU requirements to become a miner, chiefly by making adjustments to its underlying ZK-PoW algorithm.&nbsp; 
Last but not least, Lumoz intends to continue playing an active role in the promotion of ZK-Rollup technology, building greater awareness through its participation in industry summits and events and encouraging the dissemination of knowledge through hackathons and other activities.&nbsp; 
Lumoz ends by saying that its rebranding and its newly announced plans demonstrate its unwavering determination to transform the blockchain industry by paving the way for others to join the ZK-Rollup revolution.&nbsp; 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 
&nbsp;

ZK-Rollup-as-a-Service Provider Opside Rebrands As Lumoz & Unveils Ambitious Roadmap

Table of Contents

Crypto Daily™

Other articles published on Oct 23, 2023

As Nothing Token Explodes +112% Overnight, This May Be the Next Crypto to Explode – 100x Possible?

INJ Price Surged Over 9% In 24H: Closing In On $10 Prediction

Bitcoin’s Open Interest Movement: A Significant Trend to Watch

Arc8 | Get Ready for Spooky Season!

Will Bitcoin Continue to Rise? Analysis of BTC Price with Data

How does Canva’s AI Strategy Unveiling contribute to the reimagining of its valuation?

Join our free newsletter for daily crypto updates!