The L1+ and L2+ experimenting with the future of Dapps
At Ethereans Labs, we believe that Ethereum is the best chance we have to empower our society and accelerate the transition from a broken, trust-based human coordination system to a new, and unexplored frontier of cooperation that is built on both transparency and fairness for all participants. Now, more than ever, the adoption of Web3 is critical to advancing this cause. It is vital to human progress that we achieve an open worldwide financial system where everyone plays with the same rules and opportunities, and a means of protection against a globalized force that is trying to eliminate individual thought and expression, as well as privacy.
In the current state of the Industry, development on Ethereum leaves a lot to be desired. There are serious problems that make users afraid to both use it, and to build on top of it. We believe this is because of three main issues: Regulatory uncertainty, lack of transparency of developers and their applications, and security issues in the dapps themselves that can compromise user assets. We call these three issues The Triforce of FUD, and we aim to solve them.
The Triforce FUD
Today, Ethereans Labs is introducing an innovative solution to these problems by employing what we call L1+. L1+ represents a revolutionary new set of tools that aims to address each of these shortcomings in the current Ethereum development environment, and makes The Triforce of FUD a distant memory. We believe that by solving these fundamental issues, we will enable an unprecedented era of innovation and advancement, and allow progress on Ethereum to proceed much quicker.
The L1+ and L2+ Approach, Explained
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Contracts security | Factorized Ethereum: The L1+ Approach to Building Securely and Efficiently
Ethereum is a vast computer with many different applications. Most of these applications are single sided with little or no transparency, which means people must trust the credibility of the person who is deploying it and a partnered audit firm to judge whether it is safe to use. Totally Web3, right?! Wrong. It is an outdated system based on trust, with little to verify. It is the antithesis of the new system we are trying to create.
L1 applications currently use a specific contract for its use case. The security of that application is usually judged like this: If participants use an application for a certain amount of time with nobody getting hacked, it gains a reputation that is safe to use. This can be a very dangerous assumption, with many high-profile applications recently suffering undiscovered exploits long after their deployment or audit.
This bad approach is the current process of developing Web3 applications, even when forking an existing contract. We’re stuck in this continuous loop of editing code > auditing code > deploying code, making the reputational trust in the deployer and auditor as the foundation for the credibility of an application. Not only is this model flawed from a security standpoint, it’s very inefficient. The same work is repeated each time, wasting valuable developer resources as each application is built and reviewed from the ground up.
Ethereans Labs uses a different approach. L1+ Factories has in its core this revolutionary concept of building on top of secure factory contracts, with the ability to extend additional functionalities to the contract from verified on-chain sources. L1+ Factories are purpose-built platforms that allow developers to quickly and efficiently build contracts that are 100% secure with zero security assumptions, yet retain the flexibility tailoring the application to function how you want.
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Let’s look at an example: Current L1 apps can be compared to unknown Web2 e-commerce websites that are coded from scratch by unknown actors. Would you trust an unrecognized site with your personal data, or pay them with the hope that they fulfill your order? You can’t make any security assumptions about the website because you don’t know the history of the website, can’t examine the code, or know its track record for being a good actor. L1+ factories, in contrast, are similar to using Amazon-like websites to buy something. You don’t need to make any assumptions about the security because Amazon is used by many of the product sellers. You only need to audit one time, and it’s very easy to track the reputation of the seller. L1+ Factories contracts are the same way, contracts that have been verified and cloned many times over, so you know what to expect with the contract. This is the power of the L1+ way!
This is the true potential of Ethereans Labs L1+ and the guiding principle we used to build all of our protocols. Items, Factories of Factories (FoF), Covenants, and Guilds!
2. Contracts Owner permissions | A verifiable and general purposes permission system:
Guilds: A factory-based granular and programmable permissions system to host dapps, factories, and communities. Using Guilds, Ethereans can build any permission system for their application, from a fully on-chain and self-sustaining one like the EthereansOS organization or an easily verified hosted organization.
Covenants: Factories for DeFi integrations with customizable settings to produce farming contracts for any use case, semi-automatic routines to manage daily tasks, and swaps without trusting anyone. More to come!
Items: Overpowered tokens cloned by on-chain factories. Items allow holders to use tokens without making security assumptions or worrying about hidden exploits.
FoF: A marketplace to build factories both for free and commercially to help coders join L1+ development and users easily verify and verify the applications they are using.
Multiverse: A set of tooling to code factories and using a new form of community testing of the software.
And more.
3. Legal Uncertainty | The L1+ is designed to be regulatory flexible, for any need:
In our vision, The future of Ethereum requires two different application types: Hosted and regulated applications and fully on-chain, self-sustaining applications. Hosting both types of applications is critical to advancing in order to comply with any potential regulations that are imposed by the participants’ countries. With this in mind, Ethereans Labs has created two different ways to develop Ethereum protocols. EthereansOS can host both fully on-chain and self-sustaining applications and hosted regulated types.
Regulated applications will share some responsibility given by the hosting powers they choose. On the contrary, self-sustained applications will run with their math as ultimate credibility with shared hosting powers with anon holders or 0 hosting powers.
With the L1+ tools, Ethereans will be able to quickly decide to trust a dapp, organization, or a token based on an effortless way to verify the host's independence or legal responsibilities. At the same time, builders can quickly increase or decrease their hosting impact based on ever-changing regulatory frameworks.
EthereansOS is purposefully designed to be the core of this new era of dapps and beyond when DAOs will be legally recognized.