Oracles are going to be the most important piece of web3 infrastructure after we increase on chain TPS via rollups and L2s. If there is a million transactions possible in a block, most of the block space will be used by oracles bringing off chain data on chain. Super important for us to figure out a decentralized oracle network. Chainlink is doing a great job - the question is how can we bring in data feeds that have higher participation from the community members/data providers?Data guildsTh...

Oracles are going to be the most important piece of web3 infrastructure after we increase on chain TPS via rollups and L2s. If there is a million transactions possible in a block, most of the block space will be used by oracles bringing off chain data on chain. Super important for us to figure out a decentralized oracle network. Chainlink is doing a great job - the question is how can we bring in data feeds that have higher participation from the community members/data providers?Data guildsTh...

We, as a community of builders, are prematurely thinking about the problem of bringing web3 to the masses. We are between 3-5 years away from a web3 product that can reach the scale of a Billion users, depending on your level of optimism. There are 3 basic pieces of infrastructure that needs to exist before we can even think about building a product for a billion.1. WalletsI’ve talked about this earlier here and here. But the core essence is that we need to get private keys into the hands of ...

We, as a community of builders, are prematurely thinking about the problem of bringing web3 to the masses. We are between 3-5 years away from a web3 product that can reach the scale of a Billion users, depending on your level of optimism. There are 3 basic pieces of infrastructure that needs to exist before we can even think about building a product for a billion.1. WalletsI’ve talked about this earlier here and here. But the core essence is that we need to get private keys into the hands of ...

Auditing wait times on top audit firms are 9-12 months and expensive. We need something that is more participative and allows for new and yet-unproven security auditors. Here I propose a decentralized audit marketplace that turns the auditing process into a prediction marketplace.1. Select a juryA jury is usually reputed security engineers. This jury doesn’t do the audit itself, but only signs off a reported vulnerability as a real bug. There are 5 jury members selected for every audit. They ...

Auditing wait times on top audit firms are 9-12 months and expensive. We need something that is more participative and allows for new and yet-unproven security auditors. Here I propose a decentralized audit marketplace that turns the auditing process into a prediction marketplace.1. Select a juryA jury is usually reputed security engineers. This jury doesn’t do the audit itself, but only signs off a reported vulnerability as a real bug. There are 5 jury members selected for every audit. They ...

Hamburger is a word play on Harberger Tax A community of NFT holders who are paying rent to be a part of the community - and a permissionless NFT marketplace. Inspired by Nouns project and Harberger Tax1 hamburger every dayNo auction, FCFS. One NFT can be minted from the contract every 24 hours.Pay rent on the NFTYou must pay 1% per month rent on the value of the NFT you own. You can pick the value of the NFT yourself, while minting. This price is stored on-chain.Stream moneyStart streaming t...

Hamburger is a word play on Harberger Tax A community of NFT holders who are paying rent to be a part of the community - and a permissionless NFT marketplace. Inspired by Nouns project and Harberger Tax1 hamburger every dayNo auction, FCFS. One NFT can be minted from the contract every 24 hours.Pay rent on the NFTYou must pay 1% per month rent on the value of the NFT you own. You can pick the value of the NFT yourself, while minting. This price is stored on-chain.Stream moneyStart streaming t...

A completely decentralized protocol that lets people borrow money from the treasury by producing an NFT. This is to be built on top of LooksRare, because LooksRare is decentralized and hence infinitely composable.Borrow at floor priceProduce an NFT from an NFT collection on LooksRare. The maximum amount you can borrow against the NFT is the minimum floor price of that collection over the last 30 days. You can only deposit verified collections’ NFTs - for securing the protocol. Open to any oth...

A completely decentralized protocol that lets people borrow money from the treasury by producing an NFT. This is to be built on top of LooksRare, because LooksRare is decentralized and hence infinitely composable.Borrow at floor priceProduce an NFT from an NFT collection on LooksRare. The maximum amount you can borrow against the NFT is the minimum floor price of that collection over the last 30 days. You can only deposit verified collections’ NFTs - for securing the protocol. Open to any oth...

We need more data on chain that we can trust. There is no way to know if an API actually returned a certain data when it was hit - as claimed by a person/contract.Response header with signatureSimple fix is to include 2 headers in every REST response of an API.MD5 hash of the response dataA signature that signs the above hashIf not private response, upload to IPFS and include IPFS hashMD5 : <md5sum> Web3Signature : <v,r,s> IPFS : <ipfs hash> A middlewareShould be able to use th...

We need more data on chain that we can trust. There is no way to know if an API actually returned a certain data when it was hit - as claimed by a person/contract.Response header with signatureSimple fix is to include 2 headers in every REST response of an API.MD5 hash of the response dataA signature that signs the above hashIf not private response, upload to IPFS and include IPFS hashMD5 : <md5sum> Web3Signature : <v,r,s> IPFS : <ipfs hash> A middlewareShould be able to use th...

Circular DP on twitter? eew. https://www.theverge.com/2022/1/20/22893502/nft-twitter-profile-picture-crypto-wallet-opensea-coinbase-right-click Create a webpage to upload my DP to ipfs and mint an NFTUser experienceLogin with TwitterLink with Metamask/WalletconnectLet people be able to set their DP on twitter to this PFP and get a hexagonal DPTechnical detailsLogin with TwitterFetch the DP, download to memory on browserUpload to IPFSMint a token on the OpenSea contract with the metadata of im...

Circular DP on twitter? eew. https://www.theverge.com/2022/1/20/22893502/nft-twitter-profile-picture-crypto-wallet-opensea-coinbase-right-click Create a webpage to upload my DP to ipfs and mint an NFTUser experienceLogin with TwitterLink with Metamask/WalletconnectLet people be able to set their DP on twitter to this PFP and get a hexagonal DPTechnical detailsLogin with TwitterFetch the DP, download to memory on browserUpload to IPFSMint a token on the OpenSea contract with the metadata of im...

There’s a fundamental flaw in all our wallets’ designs. I present a fix, that I think should fix user onboarding once and for all.The problem is currently wallets try to be credential management as well as asset management. Because of which, the UX gets overly complicated. We should disassociate these two functionalities. Here’s how we can fix it …Signing appsWe need a mobile app who’s only job is to sign transactions. No ERC20s No ERC721s No ETH; No asset management. Just signing. It has onl...

There’s a fundamental flaw in all our wallets’ designs. I present a fix, that I think should fix user onboarding once and for all.The problem is currently wallets try to be credential management as well as asset management. Because of which, the UX gets overly complicated. We should disassociate these two functionalities. Here’s how we can fix it …Signing appsWe need a mobile app who’s only job is to sign transactions. No ERC20s No ERC721s No ETH; No asset management. Just signing. It has onl...

Huge thanks to Abhilash, Arun, Rohit, Abhinav for reading drafts of thisWeb3 is still in the by the builders for the builders phaseAny conversation about web3, which doesn’t involve developers is, as of today, a moot conversation. Builders are the center of Web3, and I’ll dive into what I think is a sound argument for web3. There are various definitions of Decentralization thrown around. But for me, the most important piece is Composability. Trustless, permissionless, censorship-resistant com...

Huge thanks to Abhilash, Arun, Rohit, Abhinav for reading drafts of thisWeb3 is still in the by the builders for the builders phaseAny conversation about web3, which doesn’t involve developers is, as of today, a moot conversation. Builders are the center of Web3, and I’ll dive into what I think is a sound argument for web3. There are various definitions of Decentralization thrown around. But for me, the most important piece is Composability. Trustless, permissionless, censorship-resistant com...

This is basically me hijacking @abhilashi’s idea “99% tokens to the community” Here’s a spec doc for building a tool to quickly launch a DAO.Idea → LaunchAs soon as a person has an idea, they should be able to launch a DAO, a token and invite the community to come build it. To create a daoPick an ENS domain you ownHit create DAOWhat it doesDeploys an ERC 20 token contract withName : ENS name selected aboveSymbol : Same as nameDecimals : 18Total Supply : 1Mmint 10K tokens to the Ownerhas a fun...

This is basically me hijacking @abhilashi’s idea “99% tokens to the community” Here’s a spec doc for building a tool to quickly launch a DAO.Idea → LaunchAs soon as a person has an idea, they should be able to launch a DAO, a token and invite the community to come build it. To create a daoPick an ENS domain you ownHit create DAOWhat it doesDeploys an ERC 20 token contract withName : ENS name selected aboveSymbol : Same as nameDecimals : 18Total Supply : 1Mmint 10K tokens to the Ownerhas a fun...

This is in continuation to the previous post that lays out the technical specifications of decoupling a wallet - between a signing app and an asset management app. https://mirror.xyz/madhavanmalolan.eth/34sHYY99p0DAUw4a8-syCmpNhaaaYzN98u-XCtaQrIc This solves 4 basic problems to have an app that only signs messages & transactions.Clear UXHaving one clear usecase will make the app design simple and help in user onboarding. Users installing a wallet and seeing $0 on it is disheartening. What is ...

This is in continuation to the previous post that lays out the technical specifications of decoupling a wallet - between a signing app and an asset management app. https://mirror.xyz/madhavanmalolan.eth/34sHYY99p0DAUw4a8-syCmpNhaaaYzN98u-XCtaQrIc This solves 4 basic problems to have an app that only signs messages & transactions.Clear UXHaving one clear usecase will make the app design simple and help in user onboarding. Users installing a wallet and seeing $0 on it is disheartening. What is ...

The traditional models of software architectures don’t apply to decentralized dapps. We need a new paradigm. Here, I outline a new architecture for DApps that are completely decentralized. It’s called SACI, pronounced Sassy (because it is). The 4 components in this architecture areDecentralized StorageDecentralized AppSmart ContractDecentralized IndexerSo - Storage, App, Contract, Indexer = SACIStorageIn the architecture, the data is not stored on a centralized database. The data is stored as...

The traditional models of software architectures don’t apply to decentralized dapps. We need a new paradigm. Here, I outline a new architecture for DApps that are completely decentralized. It’s called SACI, pronounced Sassy (because it is). The 4 components in this architecture areDecentralized StorageDecentralized AppSmart ContractDecentralized IndexerSo - Storage, App, Contract, Indexer = SACIStorageIn the architecture, the data is not stored on a centralized database. The data is stored as...