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Revolutionizing Meme Coins: The Rise of Decentralized Fungible Tokens

The world of cryptocurrency is ever-evolving, and the next big leap is already here: decentralized mineable fungible tokens. These tokens promise to bring a new level of fairness and decentralization to the crypto space, particularly in the realm of meme coins. But what makes decentralized mineable or minted tokens so special, and how can they transform the way we launch new token projects? Let's dive in.

Kaspa Foundation's KRC20 Solution: A Step Forward in Crypto Fairness

The Kaspa Foundation is leading the charge with its innovative KRC20 standard. This standard allows anyone to mint tokens that have been deployed on their blockchain, providing a more fair and decentralized condition for any new token being launched.

However, there are always potential workarounds. While this is a significant step forward, individuals might still try to mint tokens quietly, leading us back to pre-allocation or presale models like those seen on Solana and Ethereum.

The Advantages of a Decentralized Mint Process

One of the key challenges in the crypto world is ensuring that new token projects are launched fairly and remain decentralized. Traditional token launches often face issues like pre-minting, centralized control, and lack of transparency. However, decentralized minted tokens offer a clear solution:

Community Trust: The most important aspect is trust. According to the KRC20 documentation, when a token is deployed on KRC20, you can define a max supply and the size of each batch.

Fair Launch: Anyone can participate in the minting process, ensuring that no single entity has control over the initial distribution. This levels the playing field and promotes a more democratic token economy.

Example of Fairness: Nacho the Kat

Consider our new meme coin, $NACHO. According to its tokenomics, when KRC20 is ready, they will deploy a max supply of 280 billion tokens, with a batch size of 287K. They will also define a start and end date for the process. The minting process will stop either when the max supply is reached or the end date arrives.

During this timeframe, everyone can mint batch by batch at the cost of one $KAS per mint process, yes, you hear well, on $KAS. It will take 1 million mint executions to reach the max supply before the end date. This ensures a fair and immediate distribution of tokens.

The next approach will introduce greater difficulty via Proof of Work (PoW), which will not only ensure fairness in distribution but also control inflation over time.

Introducing Radiant and the Photonic Wallet

Radiant offers an advanced solution that takes the concept of mineable tokens to the next level. Utilizing the Atomicals protocol, Radiant allows anyone to mine newly deployed tokens via a GPU miner integrated into a browser extension. Powered by a UTXO blockchain, Radiant combines Bitcoin's security and decentralization with the ability to scale to thousands of transactions per second using induction proofs.

Radiant is also on the verge of launching the Photonic Wallet, an open-source project that empowers any community to create their own mineable or non-mineable tokens with just a few clicks. This tool makes it easier than ever for communities to participate in the crypto space, ensuring fair and decentralized token creation.

An important difference is that Radiant controls the entire process end-to-end.

And you would ask yourself why Kaspa didn't do something like that Well, maybe because Kaspa and Kasplex (KRC20) are two different entities, and while their collaborative solution is fair, it would be challenging for Kaspa to adapt its "Kaspa stratum bridge" to support tokens from software that depends on another entity. From other point of view, I think is great that Kaspa can keep focus on doing their solution better and faster - they have almost 80% of their miners moved to Rust.

The Advantages of Mineable Tokens

Fair Launch: With mineable tokens, anyone can participate in the mining process, ensuring that no single entity has control over the initial distribution. This levels the playing field and promotes a more democratic token economy.

Decentralization: By utilizing a PoW consensus mechanism, mineable tokens inherit the security and decentralization features of established blockchains like Bitcoin. This means no central authority can manipulate the network, making it more resilient and trustworthy.

Security: PoW mineable tokens are secured by computational power, making it extremely difficult for malicious actors to attack the network. This enhances the overall security of the token and the underlying blockchain. Additionally, Radiant controls all software components, making it easy for anyone to mine and mint them.

Conclusion

All the elements are now in place for any community to test and adopt these innovative solutions, making the crypto world a fairer and more decentralized place—even for meme coins or coins offering utilities. With PoW mineable tokens and the power of Atomicals protocols, the future of cryptocurrency is brighter, more secure, and more accessible to everyone.

Stay tuned for more updates on these exciting developments, and get ready to participate in the next big thing in crypto!

Cheers

Additional Information

• Kasplex Documentation
• Radiant Photonic Wallet
• Radiant Blockchain Site

How to Deploy Razoo's Photonic Wallet on Google Cloud Run

Hello everyone! I’m excited to share my latest adventure – setting up Razoo’s Photonic Wallet on Google Cloud Run. This wallet isn’t just for sending and receiving tokens; it allows you to create new tokens, including mineable meme tokens. It’s fair, secure, and efficient, thanks to Radiant's induction proofs. Let's dive into the details!

Step 1: Setting Up the Dockerfile

Here’s the Dockerfile that you’ll need to build the Photonic Wallet image:

FROM node:18
RUN npm install -g pnpm
RUN git clone https://github.com/coinchimp/photonic-wallet
WORKDIR /photonic-wallet
RUN pnpm install
RUN pnpm build
RUN npm install -g http-server
EXPOSE 8080
CMD ["http-server", "/photonic-wallet/packages/app/dist", "-p", "8080"]

If you’re running it locally with self-signed certificates, use this Dockerfile:

FROM node:18
RUN npm install -g pnpm
RUN git clone https://github.com/coinchimp/photonic-wallet
WORKDIR /photonic-wallet
RUN pnpm install
RUN pnpm build
RUN npm install -g http-server
RUN mkdir -p /photonic-wallet/certs && \
    openssl req -x509 -nodes -days 365 -newkey rsa:2048 -keyout /photonic-wallet/certs/selfsigned.key -out /photonic-wallet/certs/selfsigned.crt -subj "/C=US/ST=State/L=City/O=Organization/OU=Unit/CN=localhost"
EXPOSE 8080
CMD ["http-server", "/photonic-wallet/packages/app/dist", "-p", "8080", "-S", "-C", "/photonic-wallet/certs/selfsigned.crt", "-K", "/photonic-wallet/certs/selfsigned.key"]

Step 2: GitHub Actions Workflow

Here’s the workflow file to automate the build and deployment process to Google Cloud Run:

name: Deploy Photonic Wallet to Google Cloud Run

on:
  push:
    branches:
      - master

jobs:
  build-and-deploy:
    runs-on: ubuntu-latest

    steps:
      - name: Checkout code
        uses: actions/checkout@v2

      - name: Set up Docker Buildx
        uses: docker/setup-buildx-action@v2

      - name: Log in to Google Container Registry
        uses: docker/login-action@v2
        with:
          registry: gcr.io
          username: _json_key
          password: ${{ secrets.GCP_RUN_CREDENTIALS }}

      - name: Build and push Docker image
        uses: docker/build-push-action@v3
        with:
          context: .
          file: ./Dockerfile
          push: true
          tags: gcr.io/${{ secrets.GOOGLE_PROJECT_ID }}/photonic-wallet:${{ github.sha }}

      - name: Authenticate to Google Cloud manually
        env:
          GCP_JSON_KEY: ${{ secrets.GCP_RUN_CREDENTIALS }}
        run: |
          echo "$GCP_JSON_KEY" > /tmp/gcp-key.json
          gcloud auth activate-service-account --key-file=/tmp/gcp-key.json

      - name: Set Google Cloud Project
        env:
          GCP_PROJ_ID: ${{ secrets.GOOGLE_PROJECT_ID }}
        run: gcloud config set project "$GCP_PROJ_ID"

      - name: Verify Authentication
        run: |
          gcloud auth list
          gcloud config list project

      - name: Deploy to Google Cloud Run
        run: |
          gcloud run deploy photonic-wallet \
            --image gcr.io/${{ secrets.GOOGLE_PROJECT_ID }}/photonic-wallet:${{ github.sha }} \
            --platform managed \
            --region us-central1 \
            --allow-unauthenticated
        shell: bash

Step 3: Setting Up Google Cloud Run

Before deploying, make sure to create an instance in Cloud Run and set the necessary permissions:

1. Create an Instance:
2. Go to the Google Cloud Console.
3. Navigate to Cloud Run and create a new service.

4. Choose your region and the container image URL (from Google Container Registry).

5. Set Permissions:

6. Ensure the Cloud Run service account has the following roles:
   • Cloud Run Admin
   • Storage Admin
   • Artifact Registry Reader
7. You can set these permissions in the IAM section of the Google Cloud Console.

Conclusion

That’s it! You’ve successfully deployed Razoo’s Photonic Wallet to Google Cloud Run. For more details, check out the Photonic Wallet repo. Happy deploying and enjoy creating your own tokens!

Cheers

Exploring the Exciting World of Radiant

I have been a big fan of projects like Kaspa. These chains offer incredible potential, and I have seen a lot of hype surrounding KRC20, which is still in development. People are excited about the possibility of creating meme coins, but I hope it will also attract other projects with more utility.

However, did you know there are other highly scalable projects?

The Technical Excellence of Radiant Community

Although it has a small community yet, it is very focused on technical excellence. Radiant is very close to completing the Photonic Wallet. This wallet will enable the creation of PoW mineable coins, promoting decentralization and fair launches.

Why PoW Fungible Tokens Are Superior?

Proof-of-Work (PoW) fungible tokens offer significant advantages over tokens minted on platforms like Ethereum and Solana. If you're aiming for a project that is everlasting, trustless, fair-launched, and fully decentralized, PoW tokens are the way to go - even for a meme!

1. Trustless: With PoW, transactions and token creation are verified by miners who follow strict cryptographic rules. This eliminates the need for trust in a central authority, making the system more secure and reliable.

2. Fair-Launched: PoW tokens are distributed through mining, meaning anyone with the right hardware can participate from the start. This contrasts with pre-mined tokens on other platforms, where early insiders often have a significant advantage by managing vesting schedules.

3. Community-Driven: The PoW mechanism relies on a network of independent miners spread across the globe. This decentralization reduces the risk of a single point of failure or control, ensuring the network is more resilient and censorship-resistant.

PoW fungible tokens provide a more robust foundation for projects that prioritize security, fairness, and decentralization. They stand out as the best choice for creating a truly democratic and enduring project.

How it works

Radiant stands out as the only fork or layer 2 project related to Bitcoin that can create this type of coin using atomicals. It also offers the unique Radiant feature of Induction Proofs, allowing tokens to be tracked back to the genesis block without using external indexers, making it fully trustless.

If you want to give it a try, you will need to install your own ElectrumX instance. You can use the publicly available Docker image by running the following command:

sudo docker run -d -v /home/pinrojas/electrumx_radiant:/data -p 8000:8000 radiantcommunity/electrumx_radiant_node:latest

After that, you can clone the same project. I did a fork to add an extra switch to the command electrumx_rpc. Run:

electrumx_rpc getinfo

You should see something like this:

{
    "coin": "Radiant",
    "daemon": "localhost:7332/",
    "daemon height": 197575,
    "db height": 187407,
    "db_flush_count": 21,
    "groups": 1,
    "history cache": "0 lookups 0 hits 0 entries",
    "merkle cache": "0 lookups 0 hits 0 entries"
}

If you are not familiar with UTXO, you need to wait for the daemon height and db height to be the same to ensure your server is in sync.

Then, clone Photonic Wallet and start playing with your new pizza or pepe-rxd tokens (I am on that phase right now, I will give you more insigths as soon as I can)

Check out Radiant Blockchain for more details.

Cheers!