Distributed Ledger Technology (DLT) is a digital system that allows for the secure and transparent sharing of information across a network of computers. DLT enables participants to maintain a decentralized database without the need for a central authority, which has the potential to revolutionize a wide range of industries. In this article, we will explore the various aspects of DLT, including its definition, types, benefits, and challenges.

What is Distributed Ledger Technology?

Distributed Ledger Technology is a #digital system that allows for the secure and transparent sharing of information across a network of computers. DLT is based on a decentralized architecture, which means that it operates without a central authority. DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly efficient and transparent.

Types of Distributed Ledger Technology

There are several types of Distributed Ledger #Technology , including:

#Blockchain : Blockchain is the most well-known type of DLT, and it is used to maintain a decentralized database of transactions that is secured using cryptography. Blockchain is used to power cryptocurrencies such as Bitcoin and Ethereum.

Directed Acyclic Graph (DAG): DAG is a newer type of DLT that is used to maintain a decentralized database of transactions. DAG does not use blocks, as in the case of blockchain, but instead uses a graph structure to maintain the database.

Hashgraph: #Hashgraph is a consensus algorithm that is used to maintain a decentralized database of transactions. Hashgraph uses a voting mechanism to reach consensus on transactions, which makes it highly efficient and scalable.

Benefits of Distributed Ledger Technology

Distributed Ledger Technology offers several benefits, including:

Transparency: DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly transparent.

Security: DLT is highly secure, as all transactions are encrypted and stored in a decentralized network of computers. This makes it virtually impossible for a single party to tamper with the database.

Efficiency: DLT is highly efficient, as it eliminates the need for intermediaries, such as banks, which can reduce transaction costs and increase processing times.

Traceability: DLT enables the traceability of transactions, which makes it easier to track the movement of assets and reduce the risk of fraud.

Challenges of Distributed Ledger Technology

Despite the numerous benefits of DLT, there are still several challenges that need to be addressed, including:

Technical Complexity: DLT is a complex technology that requires a significant amount of technical expertise to use and understand.

Scalability: DLT can struggle with scalability, as the larger the network, the more difficult it is to maintain consensus.

Regulatory Issues: DLT is still largely unregulated, which creates risks for users and potential legal challenges in the future.

Applications of Distributed Ledger Technology

There are several applications of Distributed Ledger Technology, including:

Cryptocurrencies: DLT is used to power cryptocurrencies, such as Bitcoin and Ethereum, which are decentralized digital currencies that allow for peer-to-peer transactions without the need for intermediaries.

Supply Chain Management: DLT is used to maintain a decentralized database of transactions in the supply chain industry, which enables greater transparency and traceability of goods.

Identity Management: DLT can be used to create a decentralized identity management system, which can increase the security and privacy of personal information.

Voting Systems: DLT can be used to create a decentralized voting system, which can increase the security and transparency of elections.

Future Prospects of Distributed Ledger Technology

Despite the challenges that DLT faces, there are several reasons to be optimistic about its future prospects. For example, as more people become aware of the benefits of DLT, adoption rates are likely to increase. Additionally, as DLT technologydeveloping, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.developing, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.

Another reason to be optimistic about the future of DLT is its potential to revolutionize many industries. For example, DLT can increase transparency and efficiency in the financial industry, which can reduce costs and increase accessibility for consumers. Additionally, DLT can enable new business models in industries such as healthcare and supply chain management, which can improve the quality and safety of products and services.

Final Words

Distributed Ledger Technology is a digital system that allows for the secure and transparent sharing of information across a network of computers. DLT offers numerous benefits, including transparency, security, efficiency, and traceability. Despite the challenges that DLT faces, such as technical complexity and scalability issues, it has the potential to revolutionize many industries and improve the lives of millions of people. As such, it is important for individuals and organizations to continue exploring the potential of DLT and investing in its development.

Uniting Nations for Technological Advancement and Economic Growth

In a momentous stride towards fostering financial inclusion and driving economic growth, the central banks of Egypt and Nigeria have inked a groundbreaking fintech collaboration agreement. This pact, signed on July 18, aims to deepen cross-border regulatory collaboration and information sharing, while also providing a boost to innovation and regional technology investments. The Memorandum of Understanding (MOU) exchange took place during the esteemed Seamless North Africa 2023 meeting held in Cairo.

A Fintech Bridge to Empower Nations

As the financial landscape evolves rapidly, harnessing the potential of fintech is becoming increasingly crucial. Recognizing the significance of this emerging sector, the Central Bank of Nigeria (CBN) and the Egyptian central bank joined forces to create a bridge for fintech advancements. The collaboration is set to unlock numerous opportunities, empowering fintech startups and entrepreneurs in both Egypt and Nigeria.

Aishah Ahmad, the Deputy Governor of the Central Bank of Nigeria, expressed her enthusiasm for the alliance, emphasizing how it will foster financial inclusion across the African continent. By cultivating an innovative space for fintech pioneers, the collaboration seeks to accelerate financial services, deepen payment systems, and ultimately drive economic prosperity in the region.

The London Institute of Banking & Finance: A Catalyst for Growth

Complementing the central banks' commitment to advancement, the London Institute of Banking & Finance has also joined the endeavor by signing an MOU with the Egyptian central bank. Through this strategic alliance, the institute aims to empower leaders in Egypt's fintech sector with specialized training programs, workshops, and transformative courses.

The collaboration with the London Institute of Banking & Finance promises to equip fintech professionals with the knowledge and skills necessary to navigate the dynamic landscape of financial technology. As these leaders gain expertise and insights from global experts, they can drive innovation, enhance financial services, and spur technological growth within their respective nations.

Driving Fintech Forward: The Fintech Outlook Report

During the momentous event, the governor of the Egyptian central bank, Hassan Abdallah, unveiled the eagerly awaited Fintech Outlook report. This comprehensive report showcases the positive indicators propelling Egypt's fintech sector forward. By highlighting the sector's potential and opportunities, the Fintech Outlook report aims to inspire further advancements and investments in the domain.

As the fintech alliance between Egypt and Nigeria gains momentum, this report serves as a guiding beacon, illustrating the transformative impact of financial technology on economic landscapes. It serves as a reminder that innovation is the catalyst for progress, and by uniting their strengths, Egypt and Nigeria are at the vanguard of change.

A Shared Vision for the Future

The signing of the fintech collaboration agreement between the central banks of Egypt and Nigeria marks a pivotal moment in both nations' financial history. With a shared vision for the future, they stand poised to harness the full potential of fintech, leaving an indelible mark on the African continent and beyond.

As the fintech alliance deepens cross-border regulatory collaboration and information sharing, it paves the path to a more inclusive financial ecosystem. With the London Institute of Banking & Finance as a nurturing guide, the leaders of Egypt's fintech sector will emerge empowered, ready to steer their nation towards a digitally-driven era of economic prosperity.

In this age of technological revolution, the future looks promising as Egypt and Nigeria join forces in an unwavering commitment to drive innovation, inclusion, and economic growth through the power of financial technology. Together, they set a powerful example for the rest of the world, proving that cooperation and collaboration are the true keys to unlocking the boundless potential of fintech.

#Technology

#StarkNet is making waves in the emerging Autonomous Worlds space, spearheading the onchain gaming and autonomous worlds movement using the power of the Dojo engine and Madara. It's enabling a world of possibilities for developers and users seeking asset ownership and limitless interoperability.
Introduction
Autonomous worlds represent the convergence of #Technology , #gaming , decentralization, creativity, and innovation. These worlds operate independently, free from central authority, offering users the ability to engage, explore, create content, and interact without permission or censorship concerns.
Starknet has positioned itself as the natural choice for those pioneering the creation of these autonomous worlds. These worlds need a reliable Layer 1 (L1) to ensure their perpetual existence while also requiring a robust Layer 2 (L2) to handle their complexity. The combination of Ethereum as the foundational layer and Starknet as the scaling and creativity-enabling layer makes it possible for these worlds to emerge.
This article explores the new frontier of autonomous worlds and onchain gaming, focusing on Starknet's features that make it an ideal platform for realizing this vision.
What Are Autonomous Worlds?
Autonomous worlds operate independently without central authority and offer features such as:
Constant Accessibility: They are always available.Multiplayer Interactivity: Multiple players can explore and interact concurrently.Immunity to Shutdown: Censorship-proof, with no central authority that can shut the game down.Unrestricted User Engagement: Users can explore, create, and interact independently or in groups without central oversight.
Players, both individually and collectively, create, control, and play in these worlds, marking a new gaming frontier with vast untapped potential and new use cases that challenge existing gaming conventions. The possibilities are enormous.
To exist, autonomous worlds must be onchain, on a network capable of handling the outlined requirements while also being highly performant and cost-efficient. This is where Starknet comes into play.
The Origins of Onchain Gaming on Starknet
In November 2021, StarkWare introduced Starknet Alpha, along with Cairo, a new non-EVM compatible language. This combination of a Validity Rollup with Ethereum-grade security and the Cairo language created new opportunities. Early adopters of Cairo, such as developers from Perama and Guiltygyoza, delved into the language, creating guides and experimenting with physics and neural networks. This level of innovation within the Ethereum ecosystem was impressive.
The first game on Starknet emerged when a proposal to recreate the classic game "Drug Wars" was submitted, a grant was awarded, and a fully onchain game engine took shape.
Teams like Realms, Influence, and Briq were among the early adopters, coming from the Solidity world where building complex games was nearly impossible. Others, like Topology, entered the scene after learning about the limitations of Solidity. For all of them, Starknet made their visions finally achievable. Cairo, as a general computation programming language, removed barriers created by the EVM, providing builders with newfound flexibility.
Escaping the EVM Limit: Online and Autonomous Games on Starknet
After years of research and iteration, Starknet is now one of the first Layer 2 solutions capable of sustainably hosting high-throughput onchain games. It's the platform where game developers can build their complex, permissionless, and decentralized worlds. Starknet has attracted the largest number of game developers and teams among active Layer 2 solutions.
Two key technologies make Starknet the premier platform for building and playing onchain games and autonomous worlds: the Dojo gaming engine and the Madara sequencer.
Dojo Gaming Engine
The Dojo gaming engine is the world's first provable onchain game engine. It empowers Starknet's game builders to provide transparency, provability, and scalability for their games. Dojo offers developers the necessary tools for creating fast, provable onchain games, including physics, graphics, and game mechanics.
Dojo was developed by two early innovators in Starknet-based game development, the Cartridge and Realms teams. Their collaboration aimed to create efficient ways of building games on Starknet. Dojo includes the Entity Component System (ECS) framework, a system for blockchain-based game development that promotes modularity, efficiency, and flexibility. It also provides three additional tools for game developers: Sozo, Torii, and Katana.
Sozo
Sozo is a migration planner that simplifies deploying autonomous worlds onchain. It allows the proposal of new components to the onchain gaming universe using a simple CLI tool, promoting the philosophy of autonomous games where the world can outlive its creators.
Katana
Katana is a sequencer for local game development, enhancing productivity. It enables the testing of various parameters and configurations, making it easy for developers to experiment and fine-tune their games.
Torii
Torii is an indexing layer built on top of the Dojo engine that connects onchain infrastructure with game development clients, such as Unity or Unreal Engine. It creates a GraphQL API for queries based on the developed game's source, facilitating easy access for developers.
Madara Sequencer
The Madara sequencer is a high-performance Starknet sequencer that can create highly customizable and efficient appchains, especially suited for gaming. Madara is built using the proven Substrate framework used by the Polkadot ecosystem.
Appchains are a private instance of Starknet that allows developers to control virtually all parameters configured in a network: sequencing, data availability, settlement layer, governance, and more.
Why is this useful? For example, if a game wants to prioritize the speed of player transactions, they could choose to implement a form of First-Come-First-Served sequencing. But if instead, they want to incentivize users to bid higher for quicker block inclusion, Priority Gas Auction (PGA) sequencing could be implemented with a more profit-driven perspective.
With many other possible parameters (such as block times, frequency of settlement on L2, or utilization of non-native data availability solutions), the possibility to launch their games on a Starknet appchain provides devs with choices and power.
Future Features: Offchain Provable Games
Not every action that the player takes must be onchain. For some games, where the user’s actions should not be public before the state of the game changes, an offchain proof of the user’s action could be generated on the client, with only the proof stating the action took place being submitted onchain. Beyond multiplayer games, this infrastructure holds promise for auctions and voting-system applications where you might want to obscure the user’s input data.
Client-side proving also unlocks the possibility for models where gamers try out a hybrid approach: proofs are published, but only whenever something significant happens in-game (e.g., a level is passed or the character finds a rare asset).
Conclusion
With onchain gaming and autonomous worlds, Starknet is not just refining the present state of gaming; It is shaping the future of how games are played, assets are owned, and communities are built.
The likes of eth_worm, Guiltygyoza, and others, are trailblazing the field of onchain gaming and technical innovation. Teams such as Realms, Topology, Influence, Briq, Cartridge, and Madara are building on Starknet, escaping EVM limits.
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