JR (@jrmr92) • Hey
founder at scaleweb3, blockchain-comparison.com and defi-reporting.com
Publications
- Just minted Day 260 on @basepaint_xyz! Hundreds of pixel artists made this together on the blockchain. Minting is open only for 24h (3h left!)
https://basepaint.xyz/mint/260
- Officially introducing t2 as the **publishing home** on @lens/lensprotocol! We’re bringing a social layer to reading and writing, with a seamless mobile experience via @lens/orbapp.
Now available to everyone with a Lens handle, activate your t2 account today 👉 https://app.t2.world/t2xlens?
- Lens could definitely do better with subgroups & smaller communities circling around topics.
- Long time no see👋
- You don't think about optimal blockspace allocation at this point in crypto? That's similar to building a new country and not looking at existing countries, how their system works and what issues they got.
- wealth generation (where is money coming in) & redistribution (taxes)
- Shared values and costs of common goods (health care, transportation, etc.)
- Freedom to move, discuss, organize..
Not all digital countries need to be open for everyone - but the overall system needs to serve some purpose and consequently needs to be designed in a way that can fullfill that purpose.
For example, an exchange/lending market for native coins can be a standalone country which everyone visits in case they want to change currencies. Is that better than an exchange in the most liquid country?
Dyor 😉
- ***“How much will it cost us to implement & run our project for 1y, 3y, 10y?”***
**Amazon, Asana & other Web 2 SaaS:** Here’s your pricing info
**Ethereum:** depends on usage - but it's expensive.
**Eth l2s:** depends on usage of l1 and l2 - today rather inexpensive.
**Polkadot:** buy a parachain slot for x years, and pay x. Alternatively pay as you go (depends)
**Cosmos:** If you want shared security with the Cosmos Hub, it's likely 15% of tokens/reveneus
**Near:** depends on usage (approx 0 as long as it's unused). Private shards can be cheap.
***Projects can utilize existing tech (Ethereum geth EVM, Cosmos SDK, Polkadot SDK) & build a standalone chain and effectively set gas prices to 0. In that case, costs are low but security is also low & you miss core properties of decentralized, censorship-resistant blockchain technologies.**
Generally speaking, new l1 blockchains pitch cheap or free blockspace - but only until they are constantly seeing more usage or individual events with high usage such as an NFT drop or a ponzi launch that makes chains unusable.
*Blockspace allocation aka predictable costs for writing to the blockchain should be one of the top priorities of secure layer 1 blockchains in order to be usable for users, devs, DAOs and companies.*
At this point, neither Ethereum, nor Bitcoin have solved this. The gas fee market on Ethereum and recent implementations of gas burns & new fee calculations incentivize to use the l1 only for high-value transactions & made transaction costs slightly more predictable. L2s compete for l1 blockspace and the fees of top l2 hubs are already rising. With upcoming upgrades, fees can likely be decreased by 10x but the evolving narrative of l3s is not a coincidence to the fee markets..
Polkadot has designed their parachain model from the beginning with this issue in mind and seems to have the most advanced solution in regards to blockspace allocation at this point. Besides regular blockspace auctions (parachain auctions), there is also blockspace set aside for common good chains and they are also launching parathreads where projects can effectively buy shared security through a similar block-per-block auction system. In that case, they would also depend on gas users per block - IF no block space was set aside for these auctions. (to be seen)
Cosmos managed to attract many individual Cosmos chains more recently and it has yet to be seen what the shared security model will ultimately look like & cost. The first chains that will join the Cosmos hub's shared security models are willing to pay 15% of tokens/revenues - which seems to be a lot. One of the open questions is why projects choose the Hub's economic security when it is "only" $3B and not tap into Bitcoin or Ethereum security, incl. the upcoming Eigenlayer launch. Worth a mention is one of the top standalone hubs in the Cosmos ecosystem, Osmosis, as they built their app-chain with whitelisted blockspace allocation in mind: Who can deploy an app? How much blockspace for which projects..
Near is among the lesser used l1 chains today but has further developed their core tech incl. sharding. Companies can use (private) shards and effectively pay little fees to Near for settlement. This model is yet to be proven, somewhat similar to Avalanche Subnets (which may or may not enjoy shared security) or the scalability of the monolithic approach of Solana.
**Disclaimer:** We focus on blockspace of secure blockchains. In this post, we specifically compare top blockchain ecosystems with their shared security solutions since they are in our opinion the most interesting for projects to consider.
**warm-up post on blockspace. more to come!*
- Wanted to publish posts for @scaleweb3.lens @blockchain-comparison.lens and DeFi-Reporting.com regularly on Lens but didn't manage to get the DeFi-Reporting handle yet.
**Anyways, starting now with the 3 available handles:**
- Posts on this account will be personal aka content on footbal, chess, sports, random shitposts, politics and general crypto stuff I'm currently interested in or thinking about
- Posts on @blockchain-comparison.lens will focus on Layer 1s, Layer 2s and Web 3 protocols
- Posts on @scaleweb3.lens will focus on crypto investing, ecosystem building, web 3 growth and updates from the company in regards to new products & support for web3 projects 🙊
- The "See the feed through x" is a cool new feature.
I tried @stani.lens feed and got better content instantly.
Different timeline algorithms would also be cool:
- 1-9, A-Z, Upvote, recommended content, Mix of engagement & interests, etc.
PS: As long as it's self-selected or simply in correct order of the people I follow, it's better than the Twitter algo https://github.com/twitter/the-algorithm
- Hope the user experience is now 10x better than in december on Lens(ter) 🙂
What are your favorite tools to find content, people, alpha?
PS: Not knowing where to look for content is also a barrier in using regularly Mirror
- bangkok for new year
- Opening statement from NYT dude is already crazy framing: "We need to give SBF a stage to uncover whether he made mistakes or committed fraud."
https://www.youtube.com/watch?v=IyoGdwVIwWw
JOURNALISTS give scammers a stage for clicks, REGULATORS focus on irrelevant issues.
Meanwhile 1000s of people are building stuff, trying to advance society or in that case actually uncover things, witness and share insights but don't reach meaningful audiences 🤡
If you feel like it, listen in to SBF's dodging of questions, embarrassing stuttering, and final applause.
Despite the stage to clarify things, trying to frame things in favor of himself, some of the statements will hurt him in courts and probably he will face serious jail time.
Now, the SBF / FTX story is more than 3 weeks old. In another month, all of society with short-term memories will stop talking about it and crypto will lift up another shady dude.
- People in the space seem to have become extremely confident that we bottomed. FTX hasn't even played out yet. I expect bad coverage, 0 retail interest, stunts from regulators going hard after last crypto businesses, stablecoin issuers & TradFi short sellers to jump in..**Endgame**.
- Nice overview of Boba Network and its current usage:
Daily active users dropped to less than 100 in the last quarter!
How many L1s, L2s do we need? Does it make sense to launch an L2 on an L1 that has not yet attracted 1000s of daily active users and before it becomes economically self-sustainable?
https://messari.io/report/state-of-boba-network-q3-2022
- I dislike the small & large rugs, the celebration of bullshit projects & unreliable characters holding crypto back from its full potential but I cherish when shit fails.
Time to reconsider working in crypto and especially what you work & want to stand for.
- The only surprise at this point is that large trading firms/accounts are stuck in illiquid shitcoins after a bull market.
Going out on the risk curve to the extreme makes sense in a bull market but there is little reason to do this in a more difficult market afterwards..
You'd expect "sophisticated parties" such as FTX that issued their own tokens to prop up valuations, borrow against or sell equity would manage risk but it was prob as hard to exit leveraged positions as it was for Animoca & co to sell affiliated tokens like SAND - hence had to raise equity round on inflated book values.
- We should overload the world with localized frontends:
Forum + DeFi Terminal + Analytics + socials for diff clusters (language, interests)
In the backend you have Eth + Alt L1s + L2 + Top DeFi & global Zapper/Lens platforms
#2023 Neobanks & US platforms can go home. #DeSocRevolution
- I'd expect huge growth from crypto writers launching their own blog + comments with Lens. Helping substackers and medium writers launch their own blog, for example simple wordpress plugins, would onboard a massive number of cunique communities & clusters which could then be leveraged again in one overarching frontend like Lenster or content-specific niche forums.
- @naruto
pls
help
I
cannot
use
spacebar
- what's the app people use to write content? neither lenster nor iris works well for me
- Very cool - Do an action in source chain, post & collect Lens content on destination chain and mint the collect on source chain! Cross-chain Lens is becoming reality with LayerZero https://mirror.xyz/hypotenuse.eth/vz9vCeiIbfszR4KT5ELExTUkZ5AXJVXejYqXzWDD_kM
This means that you can decide where you mint the Lens content, mint even on L1 🚀
- @gmifrens.lens
- for coco3167
- why does this not work?
- not easy to tag someone and continue writing here