Mike | Abundance ProtocolHow Crypto Solves the Problem of Public Goods (Whitepaper)
Toward a Decentralized Abundance EconomyDownload and read Abundance Protocol: A Decentralized Solution to the Problem of Public Goods whitepaper PDF hereAbstract: a value-preserving coin issuance mechanism, supported by an on-chain domain-specific reputation system, would allow contributors to public goods projects to be compensated proportionately to the economic impact of their work. All participants in the ecosystem have an economic incentive to preserve the value of their currency while m...
Mike | Abundance ProtocolIs Crypto the Ultimate Universal Coordination Mechanism?
How do we solve the biggest challenges facing humanity? From environmental degradation to chronic diseases, the crisis of trust in institutions, food and water security, and so on, the main limiting factor is not the lack of resources or people to solve these problems, but the lack of an effective Universal Coordination Mechanism (UCM) to align people’s incentives at the largest scale toward solutions. Let’s take a look at our most powerful UCMs and see why crypto may be the ultimate UCM to a...
Mike | Abundance ProtocolWTF is the DePub (and Why You should Care)
There are currently over 97 zettabytes of data online — that is roughly three gigabytes of data for every dollar of US national debt. Within this tremendous mountain of data — somewhere between old high school photos, junk email and the occasional tweet — lies nearly all of human knowledge. Now how much of this knowledge is actually correct, how much of it is faulty knowledge that relies on questionable sources or fictitious assumptions, and how much of it is outright misinformation and lies?...
How crypto can transform the economy and solve the problem of public goods
Abundance Protocol’s vision for a superaligned crypto ecosystem.
We previously covered the start (development > testnet > mainnet) and the endgame stage (AI-powered consensus mechanism) of Abundance Protocol, but I feel that the intermediate stage (and progression) is somewhat unclear, so I’d like to discuss it in this post:
The purpose of our protocol is to allow individuals to maximize their impact, and allow communities to sustainably fund common and public goods/infrastructure. This is true for communities in the ‘real world’ (science, tech, medicine, media, environment, etc.) as well as our digital blockchain communities.
Right now we have a very fractured and tribal blockchain space. Everyone is fighting over competing blockchain scaling solutions, but mostly speculating over which coin or project token will 10X or 100X. Every token drop is creating new digital tribes that compete with others for scarce attention and resources. Too many projects and L1s see the space as a money-grab opportunity, instead of genuinely wanting to promote the tech or create the infrastructure for a decentralized economy.
The speculative nature of projects makes it very difficult for the average user to separate snake-oil promises of L1s or projects from projects with real potential. It also makes it difficult for developers to invest their time and skills in solving problems that can have the most impact. Solutions that can have the greatest impact sometimes also have the least investment, since it’s hard for projects (and VCs) to capture value from a solution that would equally benefit competitors — the classic free-rider problem.
Abundance Protocol can change this dynamic with an omni-blockchain approach. In other words, if the protocol runs on every EVM or smart-contract-supporting blockchain (and L2) as well as on its own dedicated blockchain, developers can simply focus on advancing the tech that can impact multiple blockchains or projects. Then propose their project or solution through the protocol running on each of the blockchains, and get rewarded based on how much their project contributed to each ecosystem.
This dynamic would create superalignment between the various blockchains. It would reduce some of the toxic tribal behavior we’re seeing in the crypto space, and allow the various L1s, L2s and on-chain projects and DAOs to focus on scaling, improving the technology, specializing in their various use cases, and creating new collaborations. It would allow developers to maximize their impact (and earnings) throughout crypto, create the most value for all users, and grow the crypto ecosystem as a whole.
Abundance Protocol’s vision for a superaligned crypto ecosystem.
We previously covered the start (development > testnet > mainnet) and the endgame stage (AI-powered consensus mechanism) of Abundance Protocol, but I feel that the intermediate stage (and progression) is somewhat unclear, so I’d like to discuss it in this post:
The purpose of our protocol is to allow individuals to maximize their impact, and allow communities to sustainably fund common and public goods/infrastructure. This is true for communities in the ‘real world’ (science, tech, medicine, media, environment, etc.) as well as our digital blockchain communities.
Right now we have a very fractured and tribal blockchain space. Everyone is fighting over competing blockchain scaling solutions, but mostly speculating over which coin or project token will 10X or 100X. Every token drop is creating new digital tribes that compete with others for scarce attention and resources. Too many projects and L1s see the space as a money-grab opportunity, instead of genuinely wanting to promote the tech or create the infrastructure for a decentralized economy.
The speculative nature of projects makes it very difficult for the average user to separate snake-oil promises of L1s or projects from projects with real potential. It also makes it difficult for developers to invest their time and skills in solving problems that can have the most impact. Solutions that can have the greatest impact sometimes also have the least investment, since it’s hard for projects (and VCs) to capture value from a solution that would equally benefit competitors — the classic free-rider problem.
Abundance Protocol can change this dynamic with an omni-blockchain approach. In other words, if the protocol runs on every EVM or smart-contract-supporting blockchain (and L2) as well as on its own dedicated blockchain, developers can simply focus on advancing the tech that can impact multiple blockchains or projects. Then propose their project or solution through the protocol running on each of the blockchains, and get rewarded based on how much their project contributed to each ecosystem.
This dynamic would create superalignment between the various blockchains. It would reduce some of the toxic tribal behavior we’re seeing in the crypto space, and allow the various L1s, L2s and on-chain projects and DAOs to focus on scaling, improving the technology, specializing in their various use cases, and creating new collaborations. It would allow developers to maximize their impact (and earnings) throughout crypto, create the most value for all users, and grow the crypto ecosystem as a whole.
Mike | Abundance ProtocolHow Crypto Solves the Problem of Public Goods (Whitepaper)
Toward a Decentralized Abundance EconomyDownload and read Abundance Protocol: A Decentralized Solution to the Problem of Public Goods whitepaper PDF hereAbstract: a value-preserving coin issuance mechanism, supported by an on-chain domain-specific reputation system, would allow contributors to public goods projects to be compensated proportionately to the economic impact of their work. All participants in the ecosystem have an economic incentive to preserve the value of their currency while m...
Mike | Abundance ProtocolIs Crypto the Ultimate Universal Coordination Mechanism?
How do we solve the biggest challenges facing humanity? From environmental degradation to chronic diseases, the crisis of trust in institutions, food and water security, and so on, the main limiting factor is not the lack of resources or people to solve these problems, but the lack of an effective Universal Coordination Mechanism (UCM) to align people’s incentives at the largest scale toward solutions. Let’s take a look at our most powerful UCMs and see why crypto may be the ultimate UCM to a...
Mike | Abundance ProtocolWTF is the DePub (and Why You should Care)
There are currently over 97 zettabytes of data online — that is roughly three gigabytes of data for every dollar of US national debt. Within this tremendous mountain of data — somewhere between old high school photos, junk email and the occasional tweet — lies nearly all of human knowledge. Now how much of this knowledge is actually correct, how much of it is faulty knowledge that relies on questionable sources or fictitious assumptions, and how much of it is outright misinformation and lies?...
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