InvArch Monthly Update: August 2022
After nearly a year of weekly InvArch project updates a.k.a “InvArch Weekly Wednesdays,” the InvArch team is excited to share the very first InvArch Monthly Update for August!
It was a very exciting month for the InvArch team. Be sure to take a good read of this very first monthly update, because there’s a lot of news to cover!
This month was full of news and events. The team worked hard and delivered everything they promised, and more! From the Tinkernet parachain going live on the Kusama network and producing its first blocks, to the launch of YoudleDAO and the release of the INV4-GIT Demo Video.
Let’s explore what August was like at InvArch!
Web3 Foundation Grant
One of the biggest news for the month of August was that “InvArch realizes On-chain IP Assets, Licensing, & Git Version Control” under a Web3 Foundation Grant. The final milestone was delivered and approved.
Under this grant, the InvArch INV4 FRAME was released & maintained by the InvArch Network team. The INV4 FRAME is a Rust Pallet Module for Substrate-based chains that realizes the INV4 Protocol and, as a result, the possibility for on-chain IP Assets, licenses, & flexibility for international compliance. IP Assets will be showcased in the Substrate ecosystem.
You can read more about it in the official announcement article.
It’s #TinkerTime on Kusama!
Shortly after a successful crowdloan with more than 10K $KSM contributed by 1000+ participants, InvArch’s canary network — Tinkernet, is live and has been producing blocks! This is a huge moment that not just the InvArch team but the entire InvArch Community & its supporters have waited for!!
The network is a “first-to-market” solution and showcases InvArch technology to empower the Creator economy! It serves a trio of testing purposes — one for the developers who maintain the network, one for the developers who build on top of the network, and one for the end-users of dApps & applications in the ecosystem.
Catch the full announcement here.
$TNKR Distribution Event
To use the Tinkernet network, you will need $TNKR tokens. So it didn’t take long for the team to hold a Token Distribution Event.
It took place on August 19th, 2022, and everyone who contributed their $KSM to the Tinkernet crowdloan can claim their rewards in the portal.
Be sure to check it out and enjoy the fruits of your contribution! Thank you once again to all of the Tinkernet Crowdloan supporters who contributed.
August become more of a hot month for the Dotsama ecosystem with the launch of the YoudleDAO NFT collection by the InvArch team! Many strong names in the community immediately acknowledged its presence, uniqueness, and value, and the collection skyrocketed on the marketplace!
The DAO will showcase & utilize some of the most advanced features in Web3 and will not just feature a multi-layer governance structure but also enforce its operations trustlessly & transparently on-chain.
YoudleDAO has launched a community-owned Discord server that serves as a temporary place to congregate all Youdle holders as a community until Phase 3 of the YoudleDAO Roadmap & the DAOist CDK beta is released.
You can be a part of this project by purchasing a Youdle NFT, which will grant you a role on the server and give you the power to participate in governance and collaborative efforts.
Polkadot Monthly Community Call
InvArch and its founders, Dakota Barnett and Gabriel Facco de Arruda were hosted on a monthly Polkadot Community Call on Twitter!
It took place on August 18th, and during the call, the InvArch founders touched on many network features and talked about the project’s future development. Participating in these events is always a pleasure, and we love the support of the ecosystem and other projects!
The team is looking forward to the next Polkadot Community Call!
The Web3 Talks Panel (hosted by Parity) is back!
Dakota Barnett, alongside Ingo Rübe from KILT and David Finkelstein from OAK Network, discussed “True Cross-Chain Interoperability” and future development possibilities.
“We (Polkadot & Kusama parachain teams) understand that we are truly building the foundation for Web3; people should be able to tap into the benefits & enhancements of Web3 seamlessly and effortlessly.”
Dakota Barnett, InvArch Founder
You can enjoy the full webinar on the official Polkadot Youtube channel.
INV4-GIT & GitArch
The team revealed its first demo of the INV4-GIT tool, which will be the foundation for the upcoming GitArch application!
Our Head Of Technology Development, Gabriel, has recorded a video showcasing the first version of INV4-GIT.
GitArch will be a decentralized, censorship-resistant alternative to centralized 3rd party services such as GitHub and GitLab. It will transform Git repositories into NFT assets and store them on-chain. This will allow developers to enjoy the power of Web3 with services like DID solutions, zkPrivacy, and even on-chain staking and donations!
The future of development tools is decentralized and secured.
Curious about how we built that? You can check out the INV4-GIT Codebase here.
Light clients are crucial elements in blockchain ecosystems. They help users access and interact with a blockchain in a secure and decentralized manner without having to sync the full blockchain.
Unlike their full node counterparts, light clients don’t need to run 24/7 or read and write a lot of information on the blockchain. In fact, light clients do not interact directly with the blockchain, they instead use full nodes as intermediaries.
The InvArch team achieved an incredible feat by having the Tinkernet parachain to become the first to implement light client support ! This opens the next page in achieving true decentralization for Web3. Light clients provide a much better end-user experience, including letting such end-users access the blockchain in a decentralized and secure manner.
InvArch Provides a New Multi-Signature Solution
It is possible to create a multi-signature account in Substrate-based chains. A multi-signature account is composed of one or more addresses and a threshold. The threshold defines how many signatories (participating addresses) need to agree on submitting an extrinsic for the call to be successful.
It is a very powerful feature, but it has a weak point: multi-signature accounts (via the current Polkadot iteration) cannot be modified after being created as the address is derived from the member addresses.
Thanks to the INV4 protocol, this can be solved in a delicate and trustless manner. After creating a new IP Set, ownership & control rights are evenly distributed to IPT holders, and if a holder wants to be removed from an IP Set as a signer, they can simply transfer their tokens to other owners. So the ownership will be evenly and seamlessly distributed among the remaining members.
Read more about how we solve the multisig problem here.
Reaching 10k+ Twitter Followers
The InvArch Community is continuously growing!! In August, we reached another milestone of 10K+ followers on Twitter. The numbers talk for themselves, and we look forward to bringing even more value to our beloved Web3 community!
With a tech team delivering cutting-edge solutions and a marketing team working hard on education and growth, we are of this growth milestone, and this only fuels the entire InvArch Network team more to truly solidify our position as the leading-edge L1 blockchain for the creator economy!
Be sure to check our community page and apply for the Ambassador program if you are someone who is passionate, creative, and is driven to help realize the most advanced solutions & economies for NFTs, DAOs, and intellectual property.
InvArch Monthly Updates
With the team concentrated on building, the Weekly Wednesdays updates will no longer be produced. Instead, Monthly Updates will be released on the 5th of every month.
This format will summarize all news and events in a simple and educational format. If you want to stay more up-to-date on what the InvArch team is working on, we invite you to subscribe to our Social Networks and join our Weekly Community calls held each Friday on our InvArch Discord server.
Looking At the Month Ahead
August was full of interesting news and events, but there is still a lot of work ahead!
Our plans for September are:
- $TNKR Token Bootstrapping
- Youdles NFT mintings & Bonfire event
- September Polkadot Community Call
- GitArch Private Beta
- YoudleDAO AMA with Darwinia
- Several partnership announcements
- New website deployment
Thank you for reading the very first (of many) InvArch Monthly Update!
Be sure to come back next month 🚀