Dip-CollectorAbracadabra explained
At some stage we bought some digital assets, however the buying them turned out to be just the beginning of a never ending journey which probably started with the following of some hype channels, evolving to the following of channels one could call educational channels that don’t focus on hype but on facts and the underlying technology used on the blockchains these assets live on. Understanding the tech, what is being built and what it can do compared to other projects in this space will help you make better investment decisions going forward as the underlying tech is a very important factor.
Now depending on when one entered this space or started to follow the more based channels that focus on tech and facts, the learning curve can be considered as pretty steep at times.
For myself I remember following Brad Kimes his channel back in the day where I got introduced to this dude called Mickey B Fresh who spoke in a language that I could best describe as “Abracadabra’ about #Ripple and #XRP, and although it got my instant attention I remember having to listen to some pieces over and over again to understand what this “Abracadabra” he was throwing at me was about.
A lot of time has passed since then and it’s been almost 2.5 years since I became a member of the Mickey B Fresh Patreon group where not only Mickey but a lot of smart members helped me on my leveling-up journey. Still surprising to me, here I am working with this ranting oracle from the Big Apple who has lifted not only me but most of the XRP community to a different level.
Our goal as The DeFi Standard group is to level-up the community so people will get a better understanding of what’s being built and what that underlying tech is about so people can make better educated investment decisions with the knowledge they gained. This will hopefully also sow the seeds that creates others who will also help inform and level-up the community going forward.
For those interested @MrFreshTime, my friend and admin in our patreon group @tsybs on Twitter AKA Trev444 and I @dip_collector will follow and post (on Twitter as well in the DeFi standard Patreon group) about all ongoing developments regarding the #FutureVerse and the #Rootnetwork.
Also we will of course still keep posting on all things #XRP, #Ripple and the #FlareNetwork (Mickey’s department mostly).
Now although Trev444 might still be unknown by the community, we call him the #ASM professor in our group I have a strong suspicion the man eats #Asto tokens with his cereal every morning. Trev444 has put some amazing content out in our group aswell as in the blog section of our website. https://www.mickeybfresh.com/2023/01/21/introduction-to-the-altered-state-machine/ and https://www.mickeybfresh.com/2023/03/06/is-ripple-taking-a-big-stake-in-a-top-metaverse-builder/ Although he hasn’t tweeted so far be prepared him doing so in the future and give him a follow @tsybs in case your interested in ASM and other content regarding the #futereverse.
Terminology/abracadabra explained – Custom Runtimes
One of the terms that might sound like abracadabra to many but that we will frequently read or hear in the blockchain space is the term “custom runtime”. Instead of reading all these terms that leave us clueless it might be a good idea to learn what they mean one so that the content we are getting presented to us starts making more sense and will unlock ‘aha I get that’ moments more often as time passes.
Now let me start by saying that I’m not a developer by any means, but I do have the habit of breaking things down into digestible bites for myself.
What is Custom Runtime?
Now the first word that I come across of which I think it’s an abracadabra word for a large part of the community is the word “custom runtimes’, so let’s try and break this down.
Custom runtime in blockchain tech means that the chain is customized to the specific needs of a particular application or use case. This can be done by modifying the underlying software to the way that the blockchain operates.
There are several reasons why one might want to create a custom runtime. One reason is to improve performance. By customizing the blockchain, the developers can optimize it for the specific needs of applications. For example, a blockchain that is used for gaming might be optimized for low latency (the time it takes for a transaction to be processed and confirmed on the blockchain), while a blockchain that is used for supply chain management might be optimized for high throughput.
Another reason to create a custom runtime is to add new features. For example, a blockchain that is used for decentralized finance (DeFi) might need to support smart contracts, while a blockchain that is used for supply chain management might need to support asset tracking.
Finally, a dev might want to create a custom runtime to improve security. By customizing the blockchain, the dev can implement security features that are specific to the application. For example, a blockchain that is used for voting might need to implement features that prevent double-voting.
Custom runtimes are a powerful tool that can be used to create blockchains that are tailored to the specific needs of a particular application or use case. They can be used to improve performance, add new features, and improve security.
The Root Network NFT runtime is a way of storing and managing NFTs that is different from how other networks do it. On other networks, NFTs are stored in individual contracts. This means that each NFT is its own separate entity, and there is no way to easily interact with multiple NFTs at the same time.
The Root Network NFT runtime, on the other hand, stores NFTs in a core network runtime. This means that all NFTs on the network are stored in a single place, and they can all be interacted with using the same set of tools. This makes it much easier to build applications that work with NFTs, and it also makes it easier for users to manage their NFTs.
The Root Network NFT runtime also provides a common standard for NFTs. This means that NFTs created on the Root Network can be used on other networks that support the Root Network NFT standard. This makes it easier for users to move their NFTs between different networks, and it also makes it easier for developers to build applications that work with NFTs from multiple networks.
Overall, the Root Network NFT runtime is a significant improvement over how other networks handle NFTs. It provides a more unified experience for users, it makes it easier for developers to build applications that work with NFTs, and it makes it easier for users to move their NFTs between different networks.
Some additional benefits of using the Root Network NFT runtime are :
Unified experience: Users can interact with all of their NFTs using the same set of tools, regardless of where they were created. This makes it much easier to manage NFTs.
Easier development: Developers can build applications that work with NFTs without having to worry about the specific network that the NFTs are on. This makes it easier to build new applications and to port existing applications to the Root Network.
Interoperability: NFTs created on the Root Network can be used on other networks that support the Root Network NFT standard. This makes it easier for users to move their NFTs between different networks.
In case people have subjects that are in the “abracadabra” for them they can send me a dm on Twitter.
Please note in advance that I probably won’t reply bc of lack of time, but if I find a subject “abracadabra” worthy or I see the same subject come up in those dm’s there definitely is a chance that I will choose to address it in an extended tweet or a blog
Trev444
Dip-Collector
MBF