{"signature": "0x20a36b1e30f4b2a044d98e1c0432f3d844f962fcf3825e54cabc7e6c0378b07e49e813655069804189dc6588044d5ad65ca25b2bed74157dfb2a3ba32d639dc41c", "application": {"round": "0x8b70206844630d8c0a2a545e92d3c8d46a3ceaad", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "UfAWn8wruskrLB1Y34Aceww8h07vPhfpxjhIwRsOJ0kTa0nOgLiMbQlI6opXZX4N", "encryptedSymmetricKey": "aaf93aa7525eedae1cbad7a99ea45d18048c6c068056b215971fa62d9feb4cfd6d24485ad5bafd2d1cc1e03f1586de0d2f24259bd559a2e0c3c012c1c36e80b295b6c0a0d88acda2b28aa678060288f4993c828986138b9ad1726f7fbb42dfa3241539cf498fa82edd081f261d5c27fcc3c89c1a4ff5cbc89da3ef826579b4990000000000000020ab3c8d2c33a0677fe84865b202ba90e021f6b3f3de6a2aeec9865b2ef83edcb393bf8769ea969ae0df6f10fc4707f18f"}}, {"type": "short-answer", "answer": "Angels, grants and bootstrapping", "hidden": false, "question": "Funding Sources", "questionId": 1}, {"type": "number", "answer": "10", "hidden": false, "question": "Team Size", "questionId": 2}, {"type": "short-answer", "hidden": true, "question": "Did you participate in a Gitcoin funding round as a grantee? Y/N", "questionId": 3}, {"type": "short-answer", "answer": "", "hidden": true, "question": " Do you want to join our events during the round? If so check out our telegram channel: https://t.me/arbitrumongitcoin", "questionId": 4}], "project": {"id": "42161:0x73AB205af1476Dc22104A6B8b3d4c273B58C6E27:109", "title": "Inverter Network", "logoImg": "bafkreiejli6f6mp3axgy6qtms7rdmr2ranvahwsltth4bqtfhxneb6bwmm", "metaPtr": {"pointer": "bafkreihfzxlmlzoddxdqfup7fixtj3gulzv46jqxqw6vxihcefu42qcipy", "protocol": "1"}, "website": "https://www.inverter.network/", "bannerImg": "bafkreiag6uwifix7iw6ugdrrioxfor7q5ipgoocqsnbs5zeioq266azzxm", "createdAt": 1695489881485, "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..IgQBTk6FW8ArIFhA0TG04ezUsWmubhUgOzS_TWNZBp9EglW2ICSTrVhKmu7PHHJCi0Sc3bzMR1cOkqWoJgQ2DA", "type": "Ed25519Signature2018", "created": "2023-09-23T17:23:23.961Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-09-23T17:23:23.960Z", "expirationDate": "2023-12-22T17:23:23.960Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x5E3A2D9ef0878794b6d9bC2e777f0Fe018bc4A75", "hash": "v0.0.0:nTcfRPAXtjTHsJPvna+e+0ssDjglM+n3WkuG0NIoY04=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#inverternetwork"}}}, "description": "\nProblem Statement\n\nIn the current status, blockchain protocols and applications are too costly to build and maintain. Moreover, it's difficult to fully understand the technical demands and design structures that can adapt to changing needs of decentralized applications, let alone addressing real-world gaps with novel web3 use cases. This is because many smart contracts are built in monolithic contracts that lack composability, which makes it much more costly and time-consuming to build new smart contracts or change the existing ones. Many projects that try to realize a product market through multiple iterations are burdened by these recurrently aggravating expenses, in some cases leading to the failure of the project. \n\nWhile wealthy projects have the means to create, update, and audit complex smart contracts, not every project enjoys such financial luxury. The blockchain ecosystem needs a communication protocol that simplifies the creation of blockchain apps and allows for continuous innovation without pouring massive resources into smart contract development. Without this, scaling the transformative powers of blockchain to real-world adaption and novel use cases is extremely challenging. \n\n\u200b\u200b\nProject Overview\nIn today's world, 152 out of 195 countries are regarded as developing countries, where in many of them, the average monthly salary is less than $500. \nhttps://www.worlddata.info/average-income.php\n\nWith a vision to lower entry barriers, Inverter Protocol aims to democratize building on blockchain by addressing the longstanding challenges in blockchain application development, namely high costs, intricate technical demands, and the rigid, non-composable design seen in many monolithic smart contracts. \n\n\nInverter addresses these challenges with a modular framework designed for on-chain operating systems. Its design allows for configuring and operating protocols as smart contract workflows, ensuring they are both upgradable and extendable. To achieve this, we break down smart contract functionalities into compatible modules. This method allows for individualized adjustments, fine-tuning smart contract capabilities to serve unique needs while maintaining overall coherence. Think of these modules as specialized tools: developers can use these building blocks to craft personalized smart contract workflows and set the groundwork for a wide range of use cases. \n\nWhile Inverter is designed for broad compatibility across multiple chains, its core values and features are especially synergistic with Layer 2 solutions like Arbitrum. This alignment prioritizes enhanced scalability and reduced on-chain burden, making it particularly advantageous for builders on Arbitrum.\n\nLearn more about Inverter Architecture:\nhttps://github.com/InverterNetwork/InverterProtocolArchitecture\n\nUse Cases\n\nLearn more about how Bloom Network is scaling its impact based funding programs with Inverter:\nhttps://www.inverter.network/post/bloom-x-inverter-building-a-regenerative-action-bounty-system-for-local-communities\n\nLearn more about oStake, a novel oracle-based staking contract build with Inverter\u2019s modular framework:\nhttps://docsend.com/view/s4g3hhpvfqs6bqaq\n\n\n\nCore Offerings\n\nInverter Open Library of Modules: \nThis is a robust collection of reusable, upgradable, and audited standalone smart contracts. These modules are designed with broad blockchain compatibility in mind and can be customized and composed into protocols and mechanisms to serve their unique needs. When integrated with platforms like Arbitrum, our architecture can further expedite protocol and application development and collaboration across the Arbitrum ecosystem. \n\nOrchestrator Contract: \nOur core operator contracts act as an interoperability layer that connects Inverter modules, ensuring seamless asset flows, permissions, and logic functionalities. Its unique design offers users a low-code interface to configure and dynamically operate smart contracts. \n\nWith Inverter\u2019s architecture, projects on Arbitrum can immediately adapt and modify functionalities without additional development and auditing costs.\n\n\nStartup toolkit SDKs: \nThe Inverter Protocol introduces a sophisticated suite of workflow templates that can function as SDKs, catering specifically to startups and emergent enterprises in search of robust, cost-efficient blockchain solutions. Each component within Inverter's offering undergoes rigorous auditing, ensuring security and efficacy right out of the box. \n\nFurthermore, we are designing our intuitive drag-and-drop interface to democratize the creation process. This means that even individuals with nascent blockchain expertise will be able to conceptualize, design, and implement intricate workflows, thus accelerating the pathway from ideation to real-world application.\n\n\nVision \n\nOur long-term vision is to establish Inverter as a standard in blockchain protocols, offering a durable framework that allows organizations to easily set up and manage smart contracts tailored for their needs. Our Open Library of Modules, maintained by the community, will serve as the foundation for our interoperable solutions. To realize this vision, we're developing the Inverter Control Room, an interactive low-code interface, where users can effortlessly select, simulate, and deploy modules to design workflows. When paired with Arbitrum's cost-effective ecosystem, it presents a unique opportunity for developers previously deterred by the steep costs of blockchain development. Additionally, as projects adopt Inverter\u2014whether on Arbitrum or not\u2014their additions to the Open Library of Modules enrich the entire community. This creates a cohesive ecosystem where developers benefit from each other\u2019s innovation and thrive together.\n\n\n\n\n\n", "lastUpdated": 0, "projectGithub": "InverterNetwork", "projectTwitter": "inverternetwork"}, "recipient": "0x8Bc82aa112d6f0Bc666146dF3Ee97CaA98dc1a4F"}}