Summary of the Episode

Join our discussion with Haichao Zhu, Co-Founder of Rooch Network, as we delve into the influence of blockchain and smart contracts on the digital landscape. Haichao envisions a world prioritizing transparency, security, and efficiency by harnessing the transformative aspects of blockchain technology. Explore how these advancements could reshape our digital future.

Show Notes

Haichao Zhu, the Co-Founder of Rooch Network, discusses the transformative potential of blockchain in shaping the digital landscape. Here's a summarized and rephrased overview:

  • Introduction to Rooch Network:

Rooch Network employs a modular blockchain approach, serving as a layer 2 solution that connects various layers, with Ethereum chosen for the consensus layer.

  • Efficiency through Modular Design and Move Language:

Modular blockchain design enhances efficiency by separating functionalities, fostering seamless interoperability across different blockchain ecosystems.

  • Fundraising Success and Developer Access:

Rooch Network has garnered positive responses from investors and aims to offer developers access to diverse ecosystems through fundraising efforts.

  • Envisioning Web3 and Future Prospects:

Haichao Zhu, a crypto enthusiast since 2018, envisions Web3's transformative impact, allowing individuals to engage in multiple projects simultaneously.

  • Web2 vs. Web3 Transition Uncertainties:

The transition from Web2 to Web3 presents uncertainties, acknowledging challenges, and suggesting that certain Web2 products may persist.

  • Web2.5 Transition and Data Ownership:

Web2.5 projects are gradually transitioning towards Web3 principles, overcoming obstacles like gas fees and transaction signing to empower users with data ownership.

Blockchain Security Challenges and Solutions:

Emphasis on the critical role of cybersecurity in blockchain, relying on Ethereum's proven security and scalability features.

  • Rooch Network's Security Approach:

Rooch Network employs a hybrid security model, combining fraud and validity proof, allowing users to optimize transaction confirmation time based on their needs.

  • Anticipating Future Market Changes:

Haichao Zhu anticipates market changes by 2024 and expresses a willingness to share insights in the future.

Note: The summary provides a concise and rephrased overview of key points from Haichao Zhu's discussion on the podcast.

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