Why choose the Wigwam crypto app?
Work with Dymension Testnets and Mainet
Buy Dymension tokens, including native token, by using a credit card
Swap Dymension-based tokens directly in the wallet
Possibility to connect the wallet to all Dymension Blockchain dAps: DeFi, DAO, Gamings, etc
How to get a Dymension address in Wigwam web wallet
Create a wallet in Wigwam
Choose a Dymension network from the dropdown menu
Copy you Dymension address
Dymension Blockchain review
Dymension is a modular blockchain that outsources parts of its system to external chains, unlike traditional monolithic blockchains like Ethereum. Dymension contains a network of modular blockchains, known as “RollApps” with its core being Dymension Hub.
This modular approach improves the performance, scalability, and efficiency of the blockchain by dividing the consensus, settlements data availability, and transaction executions among the Dymension Hub and RollApps.
Origins and Vision
Launched in 2022 by Yishay Harel, Dymension is a unique, part-by-part blockchain network. It's all about solving the issues that bigger, unchanging blockchains can't tackle. Dymension improves things by dividing up parts like data handling, agreements, settlement, and operation into several different chains. These are known as "RollApps".
What Dymension hopes to achieve is to build a network of blockchains that can change the game in the blockchain world. Think of how much Ethereum changed the landscape. It's along those lines. It's all about offering an environment where users can interact with RollApps. These are versatile web apps that can be customized for any purpose, whether it's games, DeFi, or NFT projects.
Here are some of the key milestones in the history of Dymension:
Introduction of RollApps: Dymension came up with RollApps. These are special rollups for specific apps. You can use them to make different kinds of programs.
Seed Funding Round: In February 2023, Dymension got $6.7 million in their first funding round. Big Brain Holdings and Stratos led the funding round. Matchbox DAO and others also helped provide money.
Testnet Launch: Dymension started testing after successfully raising funds. They launched their testnet, which is an important step for the blockchain community. This shows they are making progress to launch the full network.
Mainnet Announcement: On January 2, 2023, Dymension announced that it was starting to use its main computer network. This means that DYM, the special money for the Dymension system, was now being used for real.
What Consensus Algorithm Does Dymension Blockchain Use
Dymension Blockchain uses a Proof-of-Stake (PoS) consensus algorithm, primarily using the Cosmos SDK and Tendermint Core for transactions and consensus. This PoS system allows validators to stake some tokens to connect to the network and validate transactions, contributing to the security and stability of the network
How Dymension Technically Solved Problems with Scalability, Decentralization, and Speed
Dymension solves the problem of scalability, decentralization and speed through its unique modular blockchain architecture commonly referred to as "RollApps". Here are the key strategies Dymension uses to achieve these goals.
Scalability: The RollApps of Dymension increase scalability. They're layer-2 solutions that bunch up many transactions into one before they go to the blockchain. This clears up traffic and makes transactions quicker.
Decentralization: Dymension uses a modular system for decentralization. It's like a building with blocks. You can add, change, or remove parts without messing up the whole thing. The system stays decentralized and flexible.
Speed: The RollApps make things fast, almost like regular web apps. They take batches of transactions on a layer-2 chain and send them to a layer-1 chain in the backend. This step boosts security and scalability, meaning speedier transactions for users
Who are the Main Players in the Dymension Blockchain
Entities that maintain the Dymension network and process transactions. Notably, "Big Brain Staking" holds over 35% of staked DYM tokens, which has led to criticism for its influence over the network. Validators are crucial for the security and functionality of the Dymension blockchain.
DeFi Ecosystem on Dymension
Dymension is built using the Cosmos SDK and Celestia DA, where the Cosmos ecosystem allows Metaverse apps, games, and other ultra-high TPS services on the blockchain. Dymension’s RollApps, RollApp Virtual Machine, and the embedded AMM enable users to run a full node of Dymension’s settlement hub locally, build a RollApp, build a WASM RollApp, develop and deploy CosmWasm smart contracts on top of it. It also allows users to build an EVM RollApp and develop and deploy Solidity smart contracts on top of it.
Dymension allows both RollApps to operate under a single sequence configuration run by its team. Dymension’s RollApps is a new innovative scaling solution, with the release of its GitHub, documentation portal, and tutorials further helping developers to deploy and run various DeFi and dApps projects on its mainnet.
Tokenomics and Gas Usage on Dymension
$DYM is the native token of the Dymension ecosystem and has the following utility in its ecosystem:
Governance: Holding a DYM, allows the holder to participate in its governance by voting on proposals and shaping Dymension’s future.
Gas Fees: The token is utilized to pay gas fees and incentivize the validators.
Staking: Validators are required to stake $DYM for validating transactions as collateral, it secures the network and maintains the integrity of the network.
Liquidity: A token holder can also stake or lock their $DYM token in various Decentralized Exchange (DEX)’s liquidity pools and earn passive income.
Dymension is an innovative blockchain that introduced the revolutionary modular network architecture with its RollApps. This unique architecture has managed to achieve remarkable efficiency and has enhanced user experience in gaming, DeFi, and NFTs.
Dymension’s Hub, Data Availability, innovative consensus mechanism, and robust interoperability features are paving the way for a decentralized, efficient, and user-centric blockchain ecosystem.
Dymension blockchain utilizes Dymension ($DYM) as its gas fee.
Enter your public wallet address in the search bar of the Dymension Blockchain Explorer to gain access to all your account history and transaction specifics.
“Wigwam Web3 Wallet”, “Bitget Wallet” and “Data Wallet”, are some of the options one should consider, as there is no one best wallet.
You may use Wigwam wallet. Also, OKX Wallet has been integrated Dymension allowing access to standardized Rollups with IBC and claim Dymension’s $DYM token airdrop. It is better to use a private crypto wallet for your $DYM as it keeps your crypto transactions secure and safe.
To configure MetaMask in your browser, click on the profile icon located at the top-right corner and select "Settings" from the dropdown menu. Proceed to "Networks" and click on "Add Network." Choose "Add a network manually" and enter the following information:
- Network Name: Dymension
- RPC URL: https://dymension-evm.blockpi.network/v1/rpc
- ChainID: 1100(0x44c)
- Symbol: DYM
- Block Explorer URL: Dymension Blockchain Explorer
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