In this exclusive HackerNoon interview, Reddy pulls back the curtain on Web3's most persistent challenge: blockchain fragmentation. And he's not just talking about the problem—he's building the solution. His journey from working on predictive algorithms to founding Dojima Foundation is a testament to his ability to spot challenges before they become industry roadblocks.
\ Ishan Pandey: Hi Akhil, it's a pleasure to welcome you to our 'Behind the Startup' series. Please tell us about yourself and the inspiration behind building Dojima Foundation?
\ Akhil Reddy: Thank you! It's great to be here. I'm Akhil Reddy Pune, Founder of the Dojima Foundation. My journey started with my co-founder, Bhagath Reddy, and I graduated from the same college that produced notable alumni like Satya Nadella and Rajeev Suri. After college, I worked on predictive algorithms for billion-dollar companies, while Bhagath was at Oracle. In 2020, we both delved into the Web3 space, captivated by the idea of an open, decentralized system not controlled by any single entity.
\ This ethos inspired us to dive deep into Web3 protocols, particularly decentralized finance on Ethereum. However, we soon noticed a significant gap: bringing assets from other chains like Solana or Bitcoin into Ethereum's DeFi protocols was extremely challenging. This fragmentation issue led to the creation of Dojima Foundation, initially aimed at unifying multiple Layer 1 blockchain. Now, we've expanded to tackle fragmentation at all levels of the Web3 ecosystem. Our mission is to build a more interconnected and seamless blockchain environment.
\ Ishan Pandey: During your time in Web3, you identified challenges like the fragmentation of blockchains and liquidity issues. Could you elaborate on these pain points and how they inspired the creation of Dojima Foundation and its cross-chain solutions?
\ Akhil Reddy: Absolutely. One of the major challenges we identified early on in the Web3 space was the fragmentation of blockchains and liquidity issues. When building a derivatives protocol on Ethereum, we encountered significant hurdles in bringing assets from other Layer 1 chains, like Solana and Bitcoin, onto our platform.
\ This highlighted the fragmentation problem, which inspired us to create a unified layer where assets from various ecosystems could coexist. However, as the space evolved rapidly, fragmentation crept into multiple levels, including Layer 2s and rollups. This has turned into a multi-level and multi-dimensional problem that we are now focused on solving at all levels of the Web3 ecosystem. This realization led to the creation of the Dojima Foundation and our omnichain web bridges these gaps.
\ Ishan Pandey: With the launch of Dojima's Omnichain Web, you're addressing cross-chain interaction challenges. How does this new infrastructure simplify these interactions, and what impact do you foresee it having on the growth of Web3 and decentralized applications?
\ Akhil Reddy: With the launch of Dojima's Omnichain Web, we're creating a universal framework for chain abstraction and cross-layer interaction by creating a fluid, Internet-like architecture for Web3. This infrastructure integrates multiple components like L1s, L2s, rollups, and various solvers at different levels of the stack. By bringing L1s into the Ragno Network, enabling the Omnichain Engine and Proof Network for propagating proofs, and creating an Omnichain Stack with a sequencer for transaction handling, we're simplifying these interactions. The impact will be profound, fostering seamless integration and accelerating the growth of Web3 and decentralized applications.
\ Ishan Pandey: Could you dive deeper into how various components of the Omnichain Web architecture work together to create a seamless integration across different blockchain ecosystems? What specific advantages do they offer to developers building on Web3?
\ Akhil Reddy: Absolutely! Building on the concept of the Omnichain Web, let's delve into its architecture. At its core is the Ragno Network, uniting all Layer 1 chains to create a cohesive foundation. Layered above this, the Proof Network and Omnichain Engine work together to enable seamless interaction and verification across chains.
\ Next, Omni Rollups transform existing rollups into omnichain rollups, enabling them to settle on and interact with multiple Layer 1s. Finally, the Builder Marketplace empowers the creation of comprehensive applications across the entire stack, from general-purpose to user-centric applications. This comprehensive approach provides a true abstraction layer for Web3, unifying and advancing the entire ecosystem.
\ Ishan Pandey: With India emerging as a significant hub for blockchain innovation, how can the DojimaChain and Hermes Layer contribute to enhancing the adoption of Web3 technologies?
\ Akhil Reddy: India has become a significant hub for Web3 developers, often referred to as the 'Web3 capital' for developers. Many top protocols and partners are organizing hackathons and developer programs in India, reflecting the immense interest and potential in this space. With over three million Web3 developers, India boasts a vast talent pool eager to innovate and build decentralized, revolutionary applications.
\ This thriving ecosystem is driven by the sheer number of developers and their enthusiasm for creating impactful, decentralized solutions. As India continues to rise as a developer hub for Web3, we can expect significant contributions from this region. With the evolving global landscape, especially with developments in the U.S., there's immense scope for the Web3 ecosystem to thrive internationally as well. This synergy of talent and innovation positions Web3 for transformative growth.
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:::tip Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR
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