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Crypto apps are in dire need of ease of use and economic sustainability. Recently, rollups have shown a simple business model that works, fees minus base layer costs equals their profit. As a result, a surge of L2s were deployed each with its own custom implementation, multi-sig bridge, and security assumptions. This led to a fragmented, unsecure, and chaotic user experience diminishing the advantages of rollups and modular blockchains.
How Dymension
Dymension standardizes rollups with IBC (Inter-Blockchain Communication Protocol), similar to how tokens were standardized with ERC. RollApps are a new crypto primitive offering the rollup business model along with speed and scale under one unified experience. This paves the way for the emergence of a true Internet of rollups.
RollApps are modular blockchains, instead of maintaining costly validators, RollApps leverage the Dymension Hub (layer 1) for securing their funds and Data Availability (DA) networks for publishing their transaction data.
Building Blocks of Dymension
Security
IBC is an important aspect of Dymension. IBC is a battle-tested bridging protocol that allows secure communication between different chains. RollApps connect to the IBC economy via Dymension Hub, similar to how a server connects to the internet via an internet service provider.
Dymension replaces centralized and risky multi-sig bridges prevalent in Ethereum and L2 ecosystems with IBC-connected rollups. By building IBC for rollups, Dymension validates that all funds deposited into a RollApp are as secure as the Dymension Hub itself.
Liquidity
Dymension Hub hosts an embedded liquidity layer that facilitates asset pricing, swapping, and efficient token routing across the ecosystem. This promotes economic growth by enabling a seamless user onboarding experience to RollApps and easy access to RollApp tokens.
Data, Scale and Costs
RollApps publish transaction data to external blockchains such as Celestia, Avail, NEAR and others to provide verifiability for RollApps. RollApps can choose which blockchain is the best choice for their data according to costs, values, tech and more. This creates competition and a data market necessary for scaling all data requirements of the entire Internet of RollApps.
Crypto UX
The future of crypto UX is deposit, play, withdraw. Dymension’s infrastructure streamlines it in scale, enabling developers to deploy RollApps in a few clicks with the Dymension RollApp Development Kit (RDK). Users can easily deposit from Ethereum and further across all of the crypto ecosystem with a single transaction routed through the Dymension Hub.
The live Dymension price today is $2.73 USD with a 24-hour trading volume of $694,218,521 USD. We update our DYM to USD price in real-time. Dymension is up 12.76% in the last 24 hours. The current CoinMarketCap ranking is #164, with a live market cap of $593,410,936 USD. It has a circulating supply of 217,443,804 DYM coins and the max. supply is not available.