You cannot compare on-chain NFT stored in a smart-contract states with inscription where the states are by definition stored off-line.
Neutron is an ICS chain, this mean Neutron is in a fully replicated security and as secured as the cosmoshub. hosting a contract on Neutron or hosting a contract on the Cosmoshub provide exactly the same security.
Neutron was created following the negative community opinion to deploy CosmWasm on the hub, and is become the secured place to deploy you contract.
DAODAO is deployed on Neutron as well, so you will be able to have your governance on it.
From that thread, I echo @vixcontangoâs sentiment: âIf you want to do something, appchain it. Keep your hands off the Hub.â but seems it is too late though.
I donât think the point of this proposal is to flood atom with NFTs. Ark is a NFT bridge based on IBC technology. The same way ATOM can ibc tokens from the Cosmos I think itâs a natural continuation. Otherwise it would feel like a huge miss opportunity. Imagine closing IBC of tokens because the hub has to stay minimalistâŚ
I see only positive to be able to whitelist blue chip NFTs from other successful chains to trade on the hub. (Bad Kid, Celestine Sloths, MSâŚetc). I Would vote no to a permissionless bridge but I donât think itâs the case here?
This is not correct. Asteroid Inscriptions are stored onchain on the Hub - though thereâs currently an offchain solution for âtransferringâ to Neutron and handling ownership. We will address this, by handling ownership on-chain as well. In addition weâll extend our bridge for inscriptions going interchain as well. That makes it 100% onchain and hence decentralized and secured.
Neutron is great - but not sure whether Cosmos Hub and Neutron (or any other Cosmos chain) are per se comparable in terms of like Governance, Security and interchain features. Every chain has their reasoning and stands out with their own utilies!
Users will benefit from all of this, by connecting, bridging and enabling all these utilties going interchain!
Imho, the main question is:
Do we really want the Hub and $ATOM to exclude the NFT and Scriptions community bringing liquidity, value, utilties etc. to the Hub?
Do we really want the community to not benefit from the Hub and what it stands for?
Not sure how to answer this in a constructive manner :). But lemme try:
Our focus is providing and facilitating interchain utilities to and for app chains. Thatâs our competence, check these track records:
So back to your statement: yes, Inscriptions are a key part on the Hub now. Itâs there and has been approved - imho doesnt make sense to continue discussing on already made decisions. Also referrring to your initial statement:
As noted above and what weâve accomplished, we believe what Ark is providing for the hub, isnt just bloat - on the contrary, it will onboard lots of value (= community => active(!) liquidity, more positive(!) Hub awareness, etc) to the Hub !
Correct, it is gated. We do respect each app chainâs mission. Like weâll open bridge on chains like Terra and Injective. But on other chains like Cosmos Hub and Stargaze it stays gated - unless they changed their mind later on.
Our philosophy here: Ark is like Switzerland - we have a neutral stance in this regard!
yes, the inscriptions are stored on chain (the Tx containing the inscription payload) but the inscription âexecutionâ is done off-chain by the indexer
The ledger is an off-chain database, you NFT doesnât have real on-chain existance.
even the image payload is extracted to be stored on a AWS S3.
This is correct, and we will change this by moving logic to smart contract:
inscription âexecutionâ is done off-chain by the indexer
Every protocol does this, by indexing / storing data in a DB, for better and faster UX:
The ledger is an off-chain database, you NFT doesnât have real on-chain existance.
even the image payload is extracted to be stored on a AWS S3.
Though the truth of source is always the data onchain - hence NFT has real on-chain existance! Frontend could retrieve data onchain - but thatâs WAY to slow and not good at all for UX. Ideally there should be a 2-way strategy:
get data from indexer (faster) - and in case indexer is unavailable,
By design NFTs and Inscriptions consist of two major parts:
valuable data store and
data ownership
So:
this is the reason, where users are willing e.g. to bring in $ATOM liquidity, and in return the Hub guanrantees it is safe and secure and users benefit from other Hub features like governance, staking rewards, âŚ
smart contracts + ICA + IBC allow users to handle NFT resp. Inscription ownership across multiple chains / cross chain!
Govmos is illustrating perfectly how validators have failed the ATOM community. Theyâre voting against all progress for some weird idealism, bleeding investors and users from their ivory towers. Delegate away from Govmos.
Thx a lot for you support, but need to disagree about @Govmos: yes, they were critical, but brought valuable insights. We have answered all their concerns and theyâve changed their mind and will vote YES - once prop goes onchain Dec 3rd 2024. See detailed summary here: comment #35
Weâve been working very close with them in last 2.5 years.
Weâve made them an offer to provide this to them as well long time ago - but they neglected.
Weâve been in a call some months ago, that weâll go on other chains as well (see passed prop on Injective, Osmo, and now going for the Hub and many others as well). They are full aware of this (e.g. following our public statements for at least last 4 months).
There are prob other reasons they dislike - weâll sort this out with them internally. Def will not create more drama in public !
Now we have a new hub for minimalism (ATONE) and the Cosmos HUB community wants to evolve with use cases I will vote yes. But for the record, it is not among the use cases that were propagated in the discussion of Cosmwasm enabling prop.
AADAO suggested this, outlining this is the final (text-based) signal proposal. Once this succeeds, there will be another (param-based) proposal, for WLing Ark dev wallet, so we can upload contracts on the Hub.
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