What to know:
- Patchwork, created by a group of former Coinbase developers, is backed by Coinbase Ventures and lives on the Base layer-2 network.
- Examples of what the tech can do include transferring on-chain ownership of valuable gaming items, denoting that a particular smart contract has been audited and attaching a reputation score to indicate whether something has ever been hacked.
As a researcher who has been immersed in the world of blockchain and cryptocurrency for quite some time now, I find myself intrigued by the latest development in the field – Patchwork. Having worked with Paradex, a decentralized exchange, and being part of Coinbase, I have a deep understanding of the complexities involved in this space.
As an analyst, I’m excited to announce that Patchwork, a trailblazing startup dedicated to streamlining blockchain and smart contract development, has unveiled the latest iteration of our user-friendly, low-to-no-code tools designed for creating decentralized applications (dapps). This update comes from the brilliant minds who previously worked at Coinbase.
Associated with Coinbase’s well-known Ethereum layer-2 network called Base, which is supported by Coinbase Ventures, “Create-Patchwork” employs a ‘pick-and-shovel’ strategy to simplify the process of creating blockchain applications and linking data to them. This makes it easier for developers to get started in this field.
Moving with the flow of creating content without much effort, the intricate landscape of blockchain technology and smart contract architecture is progressing towards application development without coding, often referred to as “text-to-app” solutions.
In early 2025, our team will introduce Create-Patchwork as the initial phase of multiple upcoming features. This foundational step aims to empower creators to quickly create contracts and applications by utilizing natural language inputs in a matter of seconds.
In a recent interview, co-founder Kevin Day described Patchwork as an Ethereum method that simplifies the process of creating adaptable, on-chain applications. Essentially, it enables on-chain entities to possess other on-chain entities and allows users to attach customizable data to these on-chain elements.
Examples of user-friendly data modeling with Patchwork involve linking on-chain ownership to prized gaming assets like weapons, tagging a smart contract as having been reviewed, or even assigning a rating system to show if something has ever experienced a security breach, according to Day.
Before developing Patchwork, Day had been part of the team that constructed Paradex – a unique platform combining decentralized exchange with a central limit order book (similar to traditional trading), which was purchased by Coinbase in early 2018. Subsequently, Day and his colleagues worked on the main Coinbase exchange, but they chose to depart after approximately four years.
As a researcher, I’ve long yearned to re-engage with the authentic Web3 development landscape. Consequently, I found it necessary to reunite our team once more, as we embark on this exciting new chapter.
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2024-12-18 17:09