Share this article
Urbit Is Moving Its Virtual Server Galaxy Over to Ethereum
Urbit, the galactically inspired network of cloud servers, has announced plans to rebuild its infrastructure based on ethereum tech.
Updated Sep 13, 2021, 6:57 a.m. Published Sep 21, 2017, 1:00 p.m.
Make us preferred on Google
Urbit, the galactically inspired network of cloud servers, has announced plans to rebuild its infrastructure based on ethereum tech.
A network of P2P personal cloud servers that conceives of itself as "virtual real estate," Urbit has always borne a certain kinship to blockchain technology, but never deployed a blockchain as part of its infrastructure.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
However, the test version of Urbit, which has been online for about a year, will now be upgraded to use ethereum's smart contracts.
According to a blog post from the company, the smart contracts will be based on ERC20, the formal standard for ethereum tokens, to allow Urbit property owners to cryptographically secure their holdings.
According to the post, which uses the project's standard space-themed terminology:
"We'll instantiate a land registry for Urbit address space; an ERC20 "spark" token which is burned to create a generic star; and a voting system for self-governance. We'll also create template contracts which galaxies can use to auction stars, and stars to distribute planets."
Going forward, all payments will now occur on the blockchain. Urbit will further create its own web browser forked from ethereum's code.
By using smart contracts to formalise relationships on the network, Urbit said it can outsource its security measures to the ethereum platform.
However, the decision to integrate ethereum did not come without some doubts. Developers Curtis Yarvin and Galen Wolfe-Pauly state that due to their "bottom-up" approach to development, "depending on Ethereum goes against all Urbit's instincts."
Detailing this hesitancy further, the developers argued:
"Ethereum's user experience is notorious; its governance is suspect and unstable; its dilution rate is unconscionable; its dev environment is full of bugs and misfeatures; in short, it's a classic MVP. It has only one real goal: success. It seems to be doing pretty well with that."
In spite of this, the move is going ahead and Urbit is also expected to launch an ethereum-based token sale of its "galaxy" soon.
Galaxy image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Here's why Fed contender Kevin Warsh is seen as bearish for bitcoin
BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.
What to know:
- President Donald Trump is expected to soon announce a successor to Federal Reserve Chair Jerome Powell, with former Fed Governor Kevin Warsh emerging as a leading contender.
- Warsh's record of prioritizing inflation risks during the global financial crisis and his bias for monetary discipline has spooked analysts and markets.
- BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.
Top Stories
