Kristina Klaudy (@klaudy) • Hey
Strategist and Web 3.0 enthusiast. My biggest hobby is exploring all the corners of this space and building a project which will give the rest of the World
Publications
- Worried about fragmentation? Take a step back
Our daily interaction w/ dapps makes us think about the future from our current perspective
We're all using the future backend as the frontend is yet to be built. But it will!
(isn't it magical to be so close to the bare tech?)
https://x.com/ryanberckmans/status/1725203855888056599?s=20
- For the future prosperity of Ethereum, it will be crucial to create a safe environment for projects building on it.
Shaming successful projects can create a dangerous precedence.
I agree that consensus is a delicate aspect of the ecosystem.
However, I believe that a better strategy to protect it would be to endorse projects that offer promising alternatives.
- "The desire to enshrine as little as possible is good.
However, blockchains are not personal-computing operating systems; they are social systems." -- Vitalik
Personally, love this quote.
Blockchains are more than software and hardware. They are coordination tools as well.
https://vitalik.eth.limo/general/2023/09/30/enshrinement.html
- What a week! Permissionless II behind us.
Every crypto conference I've attended so far has been great and has its own unique vibe. The best thing about these events is meeting people who broaden your knowledge base but also your current perspective on various topics. Plus chatting about crypto technology 5 days in a row is just a blast! (My friends know that it’s my pet peeve 🤓)
Permissionless is special. For two main reasons:
- Intersection of people from various disciplines (tech, culture, venture, finance, gaming, regulation…)
- The main meeting point for the Bankless community.
At almost every conference, I meet a bunch of people who come to our Discord daily and it’s always a highlight for me. This time, we spent nearly 3 days together! Thank you so much for coming to our meetups, BanklessXBankless DAO BBQ, my unofficial Bankless dinner, and also for your kind words!
Lastly, Big Thanks to the whole Bankless team. It was wonderful to work together in person. It’s truly a dream team and I cannot wish for better colleagues.
See you all soon! With some already at Devconnect!
- Happy Merge anniversary, everyone! 🐼🦇🔊
Thank you to everyone who made the Merge possible and the whole Ethereum community, which makes me feel at home in this space.
- One of the best dashboards I've seen when it comes to L2s
https://twitter.com/growthepie_eth/status/1695428435894481389?s=20
- Ethereum will get a special gift for its Merge anniversary - the Holesky testnet!
Have you ever wondered where the name came from?
It's named after Prague's district, Holešovice, where you can find Paralelni Polis (crypto education center) or the famous Bordel hacker house.
This is where the Geth team met to merge Ropsten, one of the last dress rehearsals before the Merge upgrade. 👇
https://twitter.com/TMIYChao/status/1542921902276198401?s=20
More about Holesky: https://twitter.com/BarnabasBusa/status/1694029115664294324?s=20
- The more I learn about rollups, the more I believe that it is not essential for them to decentralize their sequencers.
Here are a few reasons why:
1/ Decentralizing the sequencer will fundamentally decrease the speed of execution.
However, this is why we built rollups in the first place: for their speed, improved efficiency, and increased scalability, allowing us to avoid compromising decentralization on the mainnet level
2/ The worst thing most centralized sequencers can do is censor transactions.
To prevent this, rollups are already using the Ethereum mainnet. From there, any user can enforce transactions.
3/ I believe our focus should be on creating a simple means of enforcing transactions from the already decentralized mainnet.
As long as we have this, it's fine to have two to three entities that will run the sequencer imo.
These can be elected or approved by DAOs if we want.
4/ For example, I believe that the BOLD upgrade, which allows for permissionless validation of the state of Arbitrum rollup, is actually much more beneficial for improving the security and trustlessness of the rollup.2
5/ However, what concerns me more is the upgradability of rollup contracts.
This is not an easy problem to solve.
We want a quick way to fix bugs, but we also don't want to give a small group of people too much power.🤯
If I am missing something (which is totally possible, of course), please let me know. Happy to discuss it! 🤓
- Happy Birthday, Ethereum!
And congrats on all the achievements! 🐼🦇🔊
https://twitter.com/RyanSAdams/status/1685672504616968192
- 🇫🇷 8 Big EthCC 2023 Announcements 🇫🇷
Missed the Ethereum community’s takeover of Paris this week?
No worries, here’s a recap of the biggest advances unveiled at this year’s event 👇
1) Lens protocol V2 🍃
The Lens team unveiled their V2 system & its new functionalities
These include “Open Actions,” which enable any external smart contract actions on any Lens publication. Also new is Profiles V2, which uses ERC-6551 so Lens profiles can own other NFTs
2) UniswapX 🦄
Uniswap Labs unveiled UniswapX -- a new trading protocol
The system intros a mechanism called “Dutch orders,” where a trade order’s price gradually declines until filled
It offers gas-free transactions, no-cost failed txs, and protection against MEV to boot
3) Chainlink CCIP 🔗
Chainlink Labs had big news this week too, having launched its anticipated Cross-Chain Interoperability Protocol on a handful of popular DeFi chains
The big idea? Unlock new cross-chain economies
4) Starknet Appchains 🔶
Build your own app-specific chains, Starknet style!
The L2’s team just announced the Starknet Stack will support deploying customizable appchains
5) Gnosis Pay 💳
Self-custodying crypto onchain, but spending it with a Visa card when you need to?
That’s the Gnosis Pay way!
GnosisDAO just revealed this new decentralized payment network and an associated Visa-powered Gnosis Card
6) & 7) Mantle + Linea alpha 🔲
Mantle Network launched its mainnet alpha, while Consensys fully opened its Linea mainnet alpha at EthCC
Mantle is very modular, while Linea is a zkEVM
Both are pointing to bold scaling frontiers ahead for Ethereum!
8) EVM extends 📈
In EVM news from EthCC, Tezos intro'd Etherlink (an EVM-compatible rollup with Tezos as the L1) + Solana Foundation welcomed Solang, a compiler that allows writing Solidity smart contracts on Solana
If you've enjoyed this recap, give us a follow!
- I keep hearing people say "more useful apps, less infrastructure".
But where could we launch these apps for mass adoption when all L2s are basically still in beta?
I don't mean it as a complaint.
I just think that we still should focus on infrastructure.
- Thank you very much @nezmic.lens for a great interview!
It was really a pleasure!
https://www.kryptonovinky.cz/utxo-23-kristina-klaudyova-aka-kristiklaudy-profit-a-business-byva-v-kryptu-tabu/
- When I convert one fiat currency to another, I am always scared of making a mistake and paying ENORMOUS fees to a bank.
Crypto transactions are a piece of cake. This is the frightening moment. 😅
- When you have the best community ever!
Thank you, @ArtDemocrat, @Logic_Beach, CPoP and others!
You made the whole @banklesshq.lens Team incredibly happy and thankful!
- We did it! Another successful upgrade in Ethereum history!! 🎉🚢
A big big thanks to all the core devs that made this possible. 🙏
- Happy Withdrawals Day, everyone!
The Merge is about to be completed today! 🐼 🎉
- This macro situation is confusing for almost everyone. We haven't seen anything like this in a while. Itay Vinik connected the dots in the recent @BanklessHQ macro ep to explain what happened and what to watch for now. Here are some key takeaways:
**The year 2022 wasn't a bear market.**
It was just a re-rating of valuations to something more sensible after the huge valuation bubble created in 2021, thanks to 0% interest rates. 0% interest rates = expansion of startups in the no-profit stage.
**No rewards, no money in banks.**
When interest rates in banks are low, many people move their money from banks to money market funds. That basically destroys credit and dollar supply. (MM funds are buying bonds from FED, which means that there are fewer dollars to use.)
**Is inflation already fine?**
While the prices of food and energy have decreased recently, the prices of services are still on the rise (this part is so-called core inflation). This means that the threat of high inflation is far from over.
The risk of stagflation is also looming, which is a combination of stagnant economic growth and high inflation.
**So will FED pivot?**
It might, but it doesn't have to be positive for asset prices. If the FED pivots while we're already in recession, asset prices will go down. There won't be money to invest in high-risk assets.
There are more insights and signals worth paying attention to, and Itay brought great charts and data supporting his arguments. Here is the whole video:
https://www.bankless.com/will-the-fed-thread-the-needle-with-itay-vinik
- So we have a date for Shanghai! 12.4. will be the transition to PoS complete!
Another cool thing is that the EF is already working on Cancun upgrade, which includes Proto-Danksharding (EIP-4844) and many more.
This is a true shipping season. 🚢🚢
https://twitter.com/TimBeiko/status/1636370111333556224
- The fact that Ethereum could get from almost 80% OFAC-compliant blocks to 50% is incredibly strong proof of Ethereum decentralization and people's motivation to keep it decentralized.
https://twitter.com/ultrasoundmoney/status/1625209951944642581
- Ability to adapt is crucial for survival of any species and social/economic systems.
Everything around us evolves and rejecting it means losing competitiveness.
That's why we should design systems which are prepared to adjust their strategies while sticking with their mission.
https://twitter.com/TrustlessState/status/1614679409939693568
- 🚨Vitalik Buterin🚨 on Crypto Neutrality
Why are cryptocurrencies better than CBDCs?
Vitalik Buterin makes the bull case for crypto adoption
#bytes
👇👇
- What's on the horizon for Web3?
Alexis Ohanian, Co-Founder of Reddit, is betting on these TWO future developments in the space
👇👇
#bytes
- NFTs are securities, and it's great!
The fact that they've properties of securities enables creators finally leverage their fame, which is a commodity highly appreciated and worshipped in our society.
But it doesn't mean that they should be regulated as securities. NFTs are a new medium and deserve a new framework.
Here is an article from an artist and lawyer, Brian Frye, with which I agree very much. Would appreciate your opinions about that.
https://www.coindesk.com/consensus-magazine/2022/12/28/nfts-are-securities-and-its-great/
- Ethereum devs going to be legendary bear market devs that will be remembered during next bull
- Verge is in prep already.
The Ethereum devs are incredible. In the middle of prep for Proto-danksharding, a verkle testnet goes live as well.
https://twitter.com/gballet/status/1600088800943710209?s=20&t=UFaIF9OwFOt3GqEJ2L2tiQ
To learn more about the Verge, you can check a great thread from himesh.eth
https://twitter.com/himeshdoteth/status/1572561609280688130?s=20&t=0uhCqgxM7smF83p0Vd8OPQ
- Casa Wallet and Phantom Wallet expanding to Ethereum is a great step for 2 main reasons:
🟢Business perspective: To grow, you need to expand your user base. You need to grow when your current niche market is in a downturn
🟢Industry perspective: The less tribal we'll be, the more technical and sociological challenges we can solve across networks a
- Crypto is a technology. It is neutral. When approached correctly, it is a tool for building economies, giving people much more freedom.
However, with freedom comes also the responsibility for our choices. Thinking for ourselves, considering our long-term goals and comparing short-term and long-term gains.
We have to change our thinking before we can have the change in the system.
There are some of my takeaways and my thoughts based on the Green Pill Ep with David Hoffman and Juan Benet. 👇
*"Build more non-financial projects. That can provide more useful capital allocation and creation of true economies not only of a new Wallstreet."*
Of course, not everything has to be on a blockchain, but it can be funded that, a more decentralised and transparent, way or enable ownership of our data (for users and providers).
IMO, this can be the actual trigger of mass adoption.
*"Now, most of the projects are finance-oriented. But it is the necessary phase of building the new economy."*
But we cannot be naive. Not everyone wants to be fully responsible for themselves. And it is fine.
Therefore, we have to come up with innovations which allow the change of the current state while giving people the choice of lifestyle. That is also part of freedom IMO.
One of the innovations enabling this is account abstraction, which makes self-custody way easier and more secure. (apart tuns of other benefits)
Here is the full episode: https://www.youtube.com/watch?v=ro9kFPX0Tk0&t=6s
- # 1.22.0 - 16th November 2022
Big release today, you can now gate your publications with access criteria. Remember your publications itself is an NFT so you can gate a publication so only people who collect can see it, same with your follow graph. Very excited in what you guys build with this.
Alongside this we have also exposed an endpoint to allow you to upload videos and audios, as we have seen uploading those via IPFS and serving them can cause them to buffer and be slow. Our API endpoint will upload it and transcode it serving that file to all people who call the API. Behind the scenes it will be pinning it to IPFS so on-chain state is still decentralized.
- feat: profile interests
- feat: gated publications powered by LIT - https://docs.lens.xyz/docs/gated
- feat: add 3 new providers to gasless
- feat: if no default profile picked select the first created one to expose more profiles
- feat: ability to upload audio and videos via the API and it be pinned for you on ipfs but the transcoded version will be served for better audio and video experience - https://docs.lens.xyz/docs/media
- I saw this post below on the blue app, and wanted to share some thoughts on it.
The collapse of FTX & Alameda is a black eye for crypto and is going to cause a lot of pain for a lot of people. The continued domino fall of these centralized platforms shows the deep need for strong decentralized systems.
As Cobie and Ledger live streamed the demise of the latest hero of crypto, I watched as in the next room over, 3 of the greatest contract devs I know furiously debated, as part of an audit of [redacted]. Behind me the @lensapi.lens backend & infra teams were attacking every whiteboard and glass window with expo markers detailing a new architecture that will help scale Lens several orders of magnitude. On Github, @lenster.lens one of the leading Lens applications that came out of our hackathon with @ethglobal.lens was trending. In Telegram, the Polygon Team along with devs across the Lensverse were analyzing the latest block data and working together to optimizing code to keep all apps and experiences running despite a chaotic gas environment.
There is going to be a lot of hurt over the next few weeks and months. Many people will lose funds, regulators will use this incident to enact stricter regulation. Yet, even still: @aaveaave.lens, Maker, Compound + DeFi were paid back first and continue to dutifully follow their smart contract code to provide open financial access to all. Uniswap & Seaport are still functioning, swapping tokens and NFTs without fail. ETH, Polygon, Arbitrum, Optimism and more are producing new blocks, filled with unstoppable decentralized computing for devs to utilize.
We are not done. Numbers may keep going down, mistakes will happen, more idols will fall. But the movement will continue, the devs will keep building. The decentralized future is coming, anon, like it or not.
- Hi guys!
Is there someone who would help me to arrange a Lens handle for my friend?
He is trying to get it via Bankless but as they cannot facilitate it right now I would like to help him directly via the Lenster community.
Would be really grateful if we can figure it out somehow. 🌿
- Probably the craziest 72hours in crypto history?
- FTX went almost bankrupt
- Binance bought FTX and now we have an oligopoly in the Crypto CEX market
BUT
- Ethereum is now officially Ultra Sound Money! 🦇
So we are sentiment neutral? 🤔
- A very handy thread with a bunch of sources explaining various parts of the upgraded Ethereum roadmap.
Personally, I really like the vision of fully SNARKed Ethereum.
Besides other stuff, it would make Ethereum so simple to use as a Google account.
https://twitter.com/pseudotheos/status/1588679220867190784?s=20&t=Xj5R01T63CsL8bwYywS2Qg
One log-in for using whole ecosystem.
- The most fascinating part for me is the usage of verifiable credentials instead of KYC.
1) it is a huge milestone for this technology.
2) the fact that institutions like JPMorgan opted for this possibility means that they are thinking of using it in the future.
But mainly, it signals to other banks that now is the time to really deep-dive into DeFi and approach it as a new technology they can use to their progress.
A good sign is that a JPMorgan representative already sounds knowledgeable about crypto. The team at JPMorgan had to spend quite a lot of time learning about technology and how the industry works.
Hopefully, it could lead to a better alignment between crypto and the traditional world.
https://twitter.com/TyLobban/status/1587679344792829954?s=20&t=Ty5wBNjsa5YocJSKSTNigA
- The talk with Macro Alf on the Bankless was a great probe into how macro works and what to expect based on that.
Here are a few take-outs and some food for thought 🧵👇
1/ There are two kinds of money:
- Real economy money = money in our bank accounts
- Financial money = money used by banks and institutions like pension funds.
Via these money types, states can influence the development of their economy.
2/ Lagging Effect
Economies are massive and stiff systems, and most of the actions within them will affect it with some lag.
In 2020 and 2021, both money streams were boosted and went up bigly. ➡️ Its effect is apparent now.
In 2022 and 2023, both money kinds' supplies are forced to shrink. ➡️We will see its effect in 6 to 15 months after that.
3/ Supply vs demand
We can increase real-economy money by printing them out. But we can't do it with services and products.
So if we artificially increase purchasing power, but the economy is bottle-necked (because of Covid supply problems e.g.), we end up having inflation.
To cool the markets, we are decreasing both real and financial money.
But unfortunately, I think we will face problems from the Covid era when companies made orders to keep up with the demand. But many of them are delivered to warehouses just now.
Thanks to that, companies' inventories are growing. As companies will struggle to sell them, these supplies will hold a huge part of their liquidy and worsen their economic situation.
4/ 3 types of economic indicators
1. Forward-leading = e.g. credit impulse: tell if real money is printed out
2. Coincidence indicators = labour market➡️ companies reduce staff when the economy indicates slowdown. Only after labour market cools down, wages market cool down.
3. Lagging indicators = e.g. inflation
It goes down because people are forced to spend less, the housing market is already down, and rents have to go down too (at least a bit).
According to Alf, this won't happen earlier than in the second half of 2023.
Due to those lagging effects, FED won't probably change its policy and pivot until the end of 2023.
Agree with that. But I think we can see targeted interventions by which FED will want to decrease its damage in certain parts of the economy.
- Great to see it! It can help decentralise whole projects and so mitigate censorship risk.
Quite timely regarding the current DCCPA topic.
Definitely, something I will closely follow.
https://twitter.com/armada_infra/status/1584942215217836032
- SWIFT is working with Chainlink on a cross-chain interoperability protocol allowing SWIFT to instruct token transfers across different blockchains.
The aim is to help institutions and TradFi players to access digital and traditional assets on one network.
Two reasons why it is very good news:
1) It signalises significant interest from institutions to tap into digital assets. They just need a reliable partner.
SWIFT should bring them more confidence in dealing with crypto and putting it into portfolios.
That would accelerate crypto adoption among these players.
2) The more institutions adopt crypto, the harder it will be for governments and policymakers to create too restrictive regulations.
It should even put some pressure on banks and persuade them to be more open to crypto businesses and at least to let them open bank accounts.
- Really like the idea of CultivatorDAO.
Content curation is a complicated issue. We want to get rid of bots and scammers but avoid censorship.
Centralised social platforms didn't come up with a good solution. They eliminated it to some extent but deployed strong censorship at the same time.
Now is the time for DAOs to show, whether communities of users and devs can solve it better. Let's see what is the power of consensus.
Excited to see, how it will go and would love to try it myself as soon as possible.
- Yesterday Lens Protocol announced the CultivatorDAO (👩🌾,👨🌾) to establish community driven content curation for Trust & Safety. Going to share our vision below on how we see the web3 social stack evolve 🧵
First, Lens Protocol is a decentralized social media protocol that acts as a registry to point content and followers. Users can link to any content which can be stored on-chain & off-chain. Most of the content is off-chain (stored in IPFS or Arweave etc).
The Protocol is flexible enough to link the content even to a private cloud or to a self-hosted environment. This is an interesting use case for follower and token gated content. It's up to the applications and users to choose how they use Lens Protocol.
Lens Protocol design guarantees users the access to their own social network. You don't need to trust centralized or off-chain platforms with your followers. Meaning every user has their own social network.
Not only you own your own network, but you also have the ability to broadcast content in a permissionless and censorship resistant way. Anyone you grant the access to your content has the ability to explore your creativity and self expression. This is decentralization by design.
While decentralization is groundbreaking for web3 social, the amount of information and finding relevant peers and content for you to discover would be a time consuming mission. This reason is why we would see another stack evolve - the middleware - where curation lives.
The middleware layer already exists on Lens Protocol, there are tools such as Graph Protocol, RSS3, Sepana and the Lens API. The middleware layer consists from widely decentralized appoaches to being progressively decentralized depending on the use cases they serve.
The latest addition to the middleware are communities such as the CultivatorDAO, focusing on curation with Trust & Safety in mind. Where code cannot solve everything, we need communities to reflect their values and govern.
The DAOs of the Lensverse will serve the application layer for various tasks ranging from building discovery algorithms, content moderation and solving various challenges that social media faces today.
The key difference between the web2 and web3 social stack is that in web3, the stack is completely open. When you don't like a policy or an experience, as a user you should be able to find a new experience without leaving behind your accumulated social capital.
Hopefully we will see small communities evolve across the web3 social ecosystem, being utilized for tasks that would benefit from community governance.
I would even imagine that every social media application built on top of Lens Protocol would have its own DAO consisting of its community members voted by the community that reflects the their own values.
Most importantly, these DAOs can operate transparently and since the measures taken by these DAOs are public, there should not be any shadow banning (see here: https://lenster.xyz/posts/0x05-0x0417).
By ensuring human assessment and the design that leads to decentralization, we are able to ensure that web3 social doesn't become a closed platform and users are able to access to open social networks that are driven by community engagement & stewardship.
Building a decentralized stack is a harder exercise than starting from a centralized approach, but brings the benefit of fully verified content linking on-chain wherever you store your content, ownership to your social graph, ability to use timestamps and create programmability.
And most importantly: decentralized and on-chain content and follower registries opens up the programmability and composability to another level. Imagine pairing Lens with tools like Simo, Lit Protocol, DeFi, NFTs, ReFi and DAO governance.
Besides reachitecturing the social stack, part of the mission for the Lens team is to make the social stack more accessible. Now with all interactions across the Lens Protocol, users do not need to sign or pay any gas. Blockchain on the backend, party on the frontend 🥳
Next Monday, you will be able to vote for CultivatorDAO with your Lens Profile to signal your support for community driven stewardship https://snapshot.org/#/cultivatordao.eth/proposal/0xd512345eb6c9b7bbf57b28a8b4f7dc46d31ab6c19ac8ad5de4605fa52fcb9e98
If you love our vision and what we are building, collect and mirror this post to retain your early user flexing rights 🌿
- Ethereum Mainnet Merge Protocol Supporter POAP NFT is already live.
I am so glad that I witnessed it! 🐼
https://app.poap.xyz/token/5660798
@poapxyz.lens
- Proud of Ethereum!
A lot of thanks to all the people making the Merge possible and keeping innovating Ethereum ecosystem even further!
Happy Merge day to everyone! 🚀
- Hi guys! One of the advantages of Web3 social platforms and Lens itself is that users own their social graphs. It means that they are able to take it to any app they want. But how does it actually work?
Is here someone, who would help me to understand how would the process look like?
I would appreciate it a lot! 🙏🌿
- Ethereum as fairer economy
After the Merge, Ethereum will be preparing for another phase. Proto-Danksharding and Danksharding. Their purpose is to lower transaction fees for L2s and make their operations easier.
But it is not all. In my mind, it will change Ethereum to an economic system similar to the one we know but with the advantage of decentralisation and code-based design.
In our current economic system, USD serves as a universal medium of exchange. We use it for buying goods and services. We borrow it in banks and save it in our bank accounts. We also operate with it internationally or eventually easily change it for another currency.
After EIP -4844, ETH will have a similar role in the Ethereum ecosystem. It will become a productive asset (universal medium of exchange), which we can use for payments in any L2 and presumably in any L1. Its purpose won't be to rise in value, but to serve as a tool like any other national currency.
Ethereum will start to resemble the system in which we are living right now, but with the difference that this system will be decentralised and based on code instead of individuals. Thanks to that, it can create an economy which can be much more productive, fertile and balanced.
But now comes the question of whether it is a good idea to consider Ethereum as an asset for storing a value.
Let's get back to the parallel with our current system. Currently, the most traditional way of saving money is putting them in the form of USD into our savings accounts. It is not a good idea because of inflation and the low yields that traditional banks offer.
But in the case of Ethereum, staking should bring API about 5% and instead of inflation, there should be deflation or incredibly low inflation.
So thinking about it in this way, ETH can still be a pretty good storing-value asset with low risk and satisfying reward.
I got to this hypothesis after watching the Bankless interview with Polynya, which let me reconsider what to expect from Ethereum evolution. At first, I was kind of disappointed that there probably won't be mooning ETH. But then I realised that this scenario is much more sustainable, sensible and promising.
Check the interview and if you want, hit me with your hypothesis and even objections to mine. I will appreciate it. :)
Check the interview and if you feel like, hit me with your hypothesis. I will appreciate it. :)
- Corporations adopting crypto hypothesis:
For many Blackrock leaning into crypto means that we will see a massive inflow of corporations into crypto in near future.
These new players can bring buying pressure to the space.
But which asset they will adopt in the first place?
There are various aspects which will influence their choices. One of them is ecology.
Let's focus on that point:
Companies must comply with various ecological policies. The pressure goes from customers as well as banks which try to avoid clients with a high ecological footprint.
Taking this into account, most of them will look for assets with high capitalisation, lower risk but also minimal environmental footprint.
From currently available assets, PoS Ethereum seems to me the number one choice.
Appreciate your thoughts on that. 🙏
- The topic of TornadoCash vs. OFAC has risen huge interest.
Initially, I didn't realise how much has been at stake and I think that many people didn't as well.
So here I am listing some of the consequences, which caught my attention probably the most:
1. From its misunderstanding of cryptocurrencies, the OFAC prohibits people from their transactions' privacy.
But unlike payments with your traditional credit card, every crypto transaction forms your digital identity. But do you want to be represented by each of them?
2. They didn't criminalise a centralised entity but a decentralised protocol.
That can create strong precedence and open a door for restrictions of other decentralised apps and protocols, which might play role in a hack or money laundering but which are daily used by each of us.
If we don't explain and show why it is the wrong direction for shaping the crypto ecosystem, we can end up with its deterioration at its very beginning.
The Bankless video below is a great summary of the whole matter. Definitely recommend watching it!
https://www.youtube.com/watch?v=lJZx8RyeJys
- BREAKING:
The Ethereum Merge has been scheduled for TTD 58750000000000000000000
This is approximately Sept 15-16th
The Merge is officially scheduled 📆
- How to build a DAO for the long term:
A couple of thoughts:
1) DAOs in their current form need to have basic organisational principles and a clear structure.
2) Representative democracy might be a good way how to make decision-making more effective.
These are ideas discussed in the Bankless episode with Hasu.
If you are a DAO founder or just interested in this matter, I cannot recommend this episode enough.
One more quote to highlight: It is good to know where decentralisation helps and where doesn't.
https://www.youtube.com/watch?v=1qqkoGatPdE
- "When you want to understand an ecosystem, you have to understand the motivation of all its agents." - @RyanSAdams
I think it is a handy idea to remember when you want to understand not only Ethereum but also any political system, social group or even your own company.
- That is incredible to see a huge advert for decentralised protocol at Times Square!👀
I think that crypto will survive this bearmarket.
https://twitter.com/StaniKulechov/status/1539023167242502148
- Nice take by Marc Andreessen: The world has only a fraction of the art and books it should have because it was always tough for artists to fund their craft, and only a few people could do that.
Definitely true, but I think it is sometimes misunderstood by Web3 enthusiasts:
What I mean by that is that in my mind not everyone who wants to create art should be paid for that.
Web3 isn't here to make shortcuts and utopia.
But it can base success more on market-fit rather than luck and the decision of a few authorities.
However, the right place, time, the right idea and knowing the right people will still be important.
Web3 just can make the market freer (for the first time in history) and let society itself decide by which art they want to be surrounded.
We will see if we manage to leverage the potential.
Inspired by an interview done by Bankless with Marc Andreessen and Chris Dixon.
https://www.youtube.com/watch?v=RXHITeaGB8Q&list=PL1UyzAJpA0F7xzuY6cOesNyCTcKt9-Qy1&index=252
- Hopefully, Decentralised identity will become reality. Reputation should stand more on actions than on certificates and claims. (It would actually help a lot to introverts as I am).
I also believe it's human nature to evolve and change, and so should credentials. That's why I really like the concept of verifiable credentials proposed by Disco.xyz
I think that it is a nice discussion between Evin McMullen, Vitalik Buterin and David Hoffman.
I appreciated the open-minded approach of all of them, giving them credit but also signalising a true interest in coming up with the best form of the DID.
https://www.youtube.com/watch?v=TbyVyVNsyys