Creator of Bored Apes’ Otherside, Announces Blockchain Somnia: Do We Need It?

Innovative gaming tech company Improbable has unveiled plans to launch a new layer-1 blockchain, Somnia, boasting a transaction capacity of over 400,000 transactions per second.

Somnia, expected to debut its developer network shortly, aims to solve the scalability issues that have long restricted blockchain technology, according to Improbable’s founder and CEO, Herman Narula. He explained that the project draws on the company’s expertise in gaming and distributed systems to create a blockchain tailored for “mass consumer applications” across gaming, social media, and decentralized finance (DeFi).

Whilst this is all great, we also use the space in this article to mull over how many blockchains is really enough. They all try to solve scalability and other typical to the space issues and even though these issues are a problem no more, thanks to Layers 2s and other solutions, we still see newcomers springing left, right and centre. Let’s dive in.

Somnia at a Glance

The blockchain will be EVM-compatible and relies on ICEdb, a technology that promises exceptionally fast read and write times. Additionally, Somnia incorporates advanced data compression techniques that reportedly enable data transfers 10-20 times more efficient than many current blockchain solutions.

In preliminary tests with 100 validators, Somnia successfully processed hundreds of thousands of Ethereum-compatible transactions per second without sharding. This performance is attributed to its unique compression strategies and custom data ingestion mechanisms, which significantly reduce the bandwidth needed for transaction processing.

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The Somnia project, initiated by the Virtual Society Foundation (VSF) — a non-profit organization founded by Improbable and initially funded by its metaverse ecosystem MSquared — will benefit from Improbable’s key technological contributions. Paul Thomas, founder of VSF, commented on Somnia’s game-changing potential, highlighting its capability to support real-time, mass-scale applications.

Given Improbable’s work in the metaverse, Somnia is purpose-built for virtual environments. The blockchain’s mission is to facilitate a “network of immersive experiences and valuable virtual assets” with a decentralized structure, empowering individuals to build independent businesses within the digital space.

Initially, Somnia will focus on applications in gaming, the metaverse, and social engagement. However, its creators envision far-reaching possibilities for the technology. “We are only scratching the surface of what’s achievable with Somnia,” the team remarked.

How Many Blockchains is Enough?

The proliferation of blockchain technologies has sparked an ongoing debate within the cryptocurrency and tech communities: Do we really need more blockchains? With a multitude of layer-1 (base layer) and layer-2 (scaling solutions) chains already in existence, it’s natural to question the necessity and sustainability of launching additional blockchains. Let’s delve into this topic by exploring the current landscape, the reasons behind the emergence of new blockchains, and the potential implications of their continued development.

The Current Blockchain Landscape

As of 2024, there are hundreds of blockchains serving various purposes. Prominent layer-1 chains like Ethereum, Binance Smart Chain, Solana, and Avalanche offer diverse features, consensus mechanisms, and ecosystems. Layer-2 solutions such as Polygon, Optimism, and Arbitrum aim to enhance scalability and reduce transaction costs for these primary networks.

This abundance stems from the decentralized and open-source nature of blockchain technology, which encourages innovation and experimentation. However, it also leads to fragmentation, where multiple chains operate in silos, potentially limiting interoperability and creating challenges for developers and users who must navigate diverse platforms.

Do We Need More Blockchains?

Arguments Against More Blockchains:

1. Fragmentation and Interoperability Issues: Multiple blockchains can lead to fragmented ecosystems, making it difficult for assets and data to move seamlessly across networks. This fragmentation can hinder the overall growth and adoption of blockchain technology.
2. Resource Duplication: Developing and maintaining new blockchains requires significant resources. Redundancy in functionalities across different chains can lead to inefficient use of developer time and financial investment.
3. Security Concerns: A larger number of blockchains increases the attack surface for malicious actors. Ensuring the security and robustness of each new chain becomes more challenging as the number of networks grows.
4. User Confusion: For end-users, navigating numerous blockchains with varying features, fees, and user experiences can be daunting, potentially slowing mainstream adoption.

Arguments in Favor of More Blockchains:

1. Innovation and Specialization: New blockchains often aim to address specific limitations or cater to particular use cases. For example, some may prioritize scalability, while others focus on privacy, interoperability, or sustainability.
2. Competition Drives Improvement: The existence of multiple blockchains fosters competition, encouraging continuous improvements in technology, efficiency, and user experience.
3. Decentralization and Resilience: A diverse blockchain ecosystem enhances decentralization, reducing reliance on a few dominant networks and increasing the overall resilience of the blockchain space.
4. Community and Governance Preferences: Different communities may prefer distinct governance models, consensus mechanisms, or feature sets, leading to the creation of blockchains that align with their values and objectives.

Why Do New Blockchains Get Launched?

1. Addressing Scalability Issues: Despite advancements, many existing blockchains face scalability challenges. New blockchains like Improbable’s Somnia aim to process transactions at unprecedented speeds (e.g., over 400,000 transactions per second), addressing bottlenecks that limit widespread adoption.
2. Enhanced Security Features: Some new blockchains introduce innovative security measures to protect against vulnerabilities and attacks, providing safer environments for users and developers.
3. Improved Consensus Mechanisms: Innovations in consensus algorithms (e.g., Proof of Stake, Proof of Authority) can offer better energy efficiency, faster transaction finality, and reduced centralization risks compared to traditional Proof of Work systems.
4. Specific Use Cases and Niches: New blockchains are often designed with particular applications in mind, such as gaming, decentralized finance (DeFi), supply chain management, or the metaverse. Tailoring a blockchain to a specific sector can optimize performance and functionality for those use cases.
5. Interoperability Solutions: Some blockchains focus on enhancing interoperability between different networks, facilitating smoother asset transfers and communication across diverse platforms.
6. Community and Governance Innovations: New blockchains may experiment with different governance models, enabling more democratic or community-driven decision-making processes that better reflect the preferences of their users.
7. Economic Incentives and Tokenomics: Innovative economic models and tokenomics can attract developers and investors by offering unique incentives, fostering vibrant ecosystems around the new blockchain.

Balancing Innovation with Sustainability

While the creation of new blockchains can drive progress and cater to evolving needs, it’s essential to balance innovation with sustainability. Key considerations include:

• Interoperability Standards: Developing and adopting common standards can help bridge different blockchains, promoting collaboration and reducing fragmentation.
• Resource Efficiency: Leveraging existing infrastructure and tools can minimize resource duplication and foster a more cohesive ecosystem.
• Community Engagement: Ensuring that new blockchains have active, engaged communities can enhance their chances of success and long-term viability.
• Regulatory Compliance: Navigating the evolving regulatory landscape is crucial for the legitimacy and widespread adoption of new blockchains.

Final Words

The question of whether the world needs more blockchains doesn’t have a one-size-fits-all answer. New blockchains can bring valuable innovations and address specific challenges, but it’s crucial to consider the broader ecosystem’s health and coherence. The key lies in fostering collaboration, interoperability, and thoughtful innovation to ensure that the proliferation of blockchains enhances rather than hinders the advancement of decentralized technologies.

Ultimately, the continued development of blockchains should aim to complement existing networks, solve pressing issues, and contribute to a more interconnected and efficient digital landscape. Whether through new layer-1 or layer-2 solutions, the focus should remain on enhancing scalability, security, usability, and real-world applicability, ensuring that blockchain technology fulfills its transformative potential.