⛓️Blockchain

The implementation of the tokens that form the core of SMP will utilize blockchain technology in the broadest sense. This not only facilitates the exchange of tokens and digital items built on blockchains, but also facilitates the creation of high-liquidity and transparent economic systems by making it easier to detect fraudulent activities such as data falsification and censorship.

The blockchain technology referred to here is an idea invented to bring about the world's first cryptocurrency Bitcoin, and subsequently applied to a variety of other uses beyond Bitcoin. However, there is no written definition of blockchain in the paper describing the Bitcoin idea, and there is sway from project to project as to what could be considered blockchain. In addition, blockchain is a developing technology, and as innovations are constantly being made. SMP aims to achieve optimal user experience by combining the benefits of various blockchain-derived technologies without relying too heavily on any one particular blockchain domain.

Technical Integration of Public and Private Chains

The various blockchain derivatives can be broadly classified into two categories: public chain systems, in which the network is composed of an unspecified number of participants, and private chain systems, in which the network is composed of a specific number of participants. These are not merely technical classifications but have often caused an ideological divide between the two. For example, criticisms have been made that “private chains are not true blockchains” and that “public chains are not must-use in a lot of use cases”. This can be seen as a difference in philosophy on which aspect of the impact the advent of Bitcoin an individual prioritizes.

The advent of Bitcoin had two major impacts on society. The first was the invention of the so-called Nakamoto consensus, a probabilistic consensus algorithm that demonstrated the feasibility of a decentralized system consisting of an unspecified number of participants. It was believed that this would enable the realization of a system that is not dependent on a specific service provider but can continue to operate in a self-sustaining decentralized manner, with every user playing the role of service provider. Many smart contract platforms such as Ethereum aim to provide a foundation for implementing such self-sustaining decentralized applications.

On the other hand, the burden of supporting a system that continues to operate in a self-sustaining, decentralized fashion is too great for many ordinary users to bear. Many users who want to hold Bitcoin or use it for payments do not go so far as to set up their own Bitcoin node just for that purpose. In many cases, they buy and sell Bitcoin on their crypto exchange accounts, or they install a wallet application and outsource the operation of the Bitcoin node to someone on the Internet. It is important to note that even in such cases where someone is outsourced to provide and operate this service, it is easy for anyone to verify that these entities are not committing fraud.

Another impact that the advent of Bitcoin had on society was the rediscovery of the importance of ensuring that the system as a whole continues to operate correctly even when some of the service providers inside the system are untrustworthy (so-called Byzantine fault tolerance). Byzantine fault-tolerant distributed systems existed before the advent of Bitcoin, but they were not widely accepted in society. However, the various financial instabilities and corporate scandals that occurred around the same time as the advent of Bitcoin reaffirmed the importance of systems that enable users to monitor service providers for fraud and protect their rights, seeing governments and corporations as not always completely trustworthy.

These two major trends of thought are not contradictory but are inherently complementary to each other, and SMP will adopt an architecture that maximizes the benefits of both by using public and private chains for separate use cases. By doing so, we aim to achieve a state in which users can use our services comfortably without being trapped by restrictions specific to public chains (gas fees, processing speed, private key management, etc…) while maintaining the transparency and decentralized nature of a public chain.

In the initial stages of SMP, the most appropriate blockchain for each use case will be selected based on the following architecture.

Ethereum Chain:

The chain for initial token issuance and long-term holdings will be Ethereum, which holds many validators and assets. This reduces security risks such as attacks on the chain itself or service outages. It also has the advantage of facilitating handling on exchanges and in many wallet applications.

Oasys Hub (Oasys L1) Chain

Oasys Hub is an EVM-compatible L1 chain dedicated to Gaming services, with an Optimism-based architecture that allows multiple Layer 2 Verse chains to be linked, enabling gas- and high-speed transactions for end-users. It also provides a bridge function that allows easy token transfer between various public chains, including Ethereum, via Oasys Hub, thereby providing efficient interoperability without having to connect each public chain separately.

DM2 Verse (Oasys L2) chain

DMM Crypto builds and provides our own Oasys Layer 2 chain (DM2 Verse) to build and operate our own and our partners’ services. Tokens brought to DM2 Verse via Oasys Hub can be transacted at high speed with no gas fees. In addition, NFTs acquired by users on Verse can be closed and distributed on the Verse chain, or transferred via Oasys Hub to other Verse chains or public chains such as Ethereum for trading on external marketplaces, etc.

In addition, we plan to collaborate with various other chains to expand and develop the ecosystem further.