Dymension Network Deploys IBC Supported Rollup on 35-C Test Network for EVM-Compatible RollApp Development: A Game Changer in Blockchain Technology

On April 30th, it was announced that the Dymension Network, which aims to facilitate the deployment of modular Rollup networks, is deploying IBC supported Rollup on the 35-C test network. Developers can use the Rollup development kit compatible with EVM provided by Dymension Network to develop applications. The modular blockchain EVM RollApp will use EVMOS as the Gas token.

Dymension Network Deploys Rollup Supporting IBC on Test Network

The blockchain industry is continuously evolving, and new technologies are emerging to solve the challenges faced by blockchain developers. On April 30th, the Dymension Network announced that it is deploying IBC supported Rollup on the 35-C test network to facilitate the deployment of modular Rollup networks. This technology will revolutionize blockchain development by enabling developers to develop applications using the Rollup development kit compatible with EVM, which is provided by Dymension Network.

What is the Dymension Network?

The Dymension Network is a blockchain platform that enables the deployment of modular Rollup networks. It offers a flexible platform that is compatible with EVM-based blockchain technologies and enables developers to build scalable and secure decentralized applications (dApps). The platform provides several features, including high throughput, low latency, and low transaction fees. It aims to make blockchain technology accessible to everyone, regardless of their technical knowledge or experience.

What is Rollup?

Rollup is a layer-two scaling solution for Ethereum, providing scalability by grouping transactions together and submitting them as a single transaction to the main Ethereum chain. This bundling of transactions reduces gas costs and speeds up transactions, resulting in faster and cheaper transactions. Rollups are touted as the next significant leap in Ethereum scaling, and are expected to play a crucial role in the growth of the Ethereum ecosystem.

IBC Supported Rollup on 35-C Test Network

The announcement by the Dymension Network about the deployment of IBC supported Rollup on the 35-C test network is an excellent development for the blockchain industry. This technology will enable developers to develop applications using the Rollup development kit compatible with EVM provided by Dymension Network. The Rollup development kit is a tool-kit designed to help developers create and deploy Rollup smart contracts on the Dymension Network. Furthermore, developers can use the modular blockchain EVM RollApp that uses EVMOS as the Gas token to develop and launch their dApps on the network.

The Benefits of IBC Supported Rollup

IBC supported Rollup will provide several benefits for blockchain developers and users. A crucial benefit is the increased scalability of the blockchain network. This technology will support the growth of dApps and enable more people to use the blockchain network without increasing transaction fees. Furthermore, IBC supported Rollup will improve the security of the blockchain network by reducing the risk of attacks, such as the 51% attack. This will promote trust in the blockchain network, making it more attractive to users and investors.

Conclusion

The deployment of IBC supported Rollup on the 35-C test network by the Dymension Network is an exciting development in the blockchain industry. It will enable developers to create and deploy dApps with fast and low-cost transactions. It provides scalability, security, and flexibility for blockchain developers, making blockchain technology accessible to everyone. The Dymension Network is indeed a game-changer in the blockchain industry.

FAQs

Q1. What is EVM?

The Ethereum Virtual Machine (EVM) is a runtime environment where smart contracts run on the Ethereum blockchain. It provides the computational power needed to perform transactions and execute smart contracts.

Q2. How does Rollup work?

Rollup is a technique that bundles a large number of off-chain transactions into a single on-chain transaction. This bundling reduces gas costs and speeds up transactions. Once the transactions are bundled, they are submitted to the main Ethereum chain.

Q3. What is IBC?

IBC (Inter-Blockchain Communication) is a protocol that allows different blockchain networks to communicate and exchange data with each other. It is a crucial component of the Dymension Network’s Rollup technology, enabling it to achieve scalability and interoperability.