PsilocybeRBBC: Red Belly Network
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Psilocybe0L Network: A Short History of Crypto
This is a tea. A special tea. 11.2023WELCOMETake a seat, let me roll out the TV. This is a documentary, where you read and imagine Psilocybe going through some crypto history. I am going to touch on ETH, Aptos, Solana, contracts, venture capital and most importantly 0L Network. 0L Network is a fork of Diem. Remember those days of Diem and Libra? It has been quietly in construction since those days and is, well, I will let you find out. Get cosy.Start here…Humans came out of the tree and it ha...
PsilocybeR3: Obscuro In Context
3/8/2022 Psilosybe?… p’Silocbey?…. Can I just call you Gary? Editors note: back when I made this write-up I was in the throes of a bureaucratic battle with my internet provider as I had just moved. It was a long, arduous, dull saga that was finally resolved. However, during it meant I had no internet and I had to utilise my friends WiFi when I had a chance leading to incomplete work. It does still provide a decent amount of intel for you but there are missing bits and parts I wished to contin...
Twitter : @Psilocybe____
PsilocybeRBBC: Red Belly Network
27/5/2022 Artist: stuz0r The notorious, white-belly, poisonous Psilocybe"You call that a blockchain? This is a blockchain" Crocodile GramoliContentsTeam The Tech Slithering through the undergrowth With that considered what will RBBC do? Risk I have looked at the tech but I have mainly focussed on the connections with which RBBC’s team are involved in as well as the wider frame work it sits within. “Slithering through the undergrowth” meanders through the network that RBBC is within, accompani...
Psilocybe0L Network: A Short History of Crypto
This is a tea. A special tea. 11.2023WELCOMETake a seat, let me roll out the TV. This is a documentary, where you read and imagine Psilocybe going through some crypto history. I am going to touch on ETH, Aptos, Solana, contracts, venture capital and most importantly 0L Network. 0L Network is a fork of Diem. Remember those days of Diem and Libra? It has been quietly in construction since those days and is, well, I will let you find out. Get cosy.Start here…Humans came out of the tree and it ha...
PsilocybeR3: Obscuro In Context
3/8/2022 Psilosybe?… p’Silocbey?…. Can I just call you Gary? Editors note: back when I made this write-up I was in the throes of a bureaucratic battle with my internet provider as I had just moved. It was a long, arduous, dull saga that was finally resolved. However, during it meant I had no internet and I had to utilise my friends WiFi when I had a chance leading to incomplete work. It does still provide a decent amount of intel for you but there are missing bits and parts I wished to contin...
Twitter : @Psilocybe____
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15/10/2024
TEN will have a bridge to Corda. This is significant.
Why though?
TEN was originally called Obscuro and came out of Obscuro Labs.
Obscuro Labs came out of the Digital Asset Labs of R3.
R3 made Corda.
One of Corda’s devs, Mike Hearn, was one of the few core developers of Bitcoin and interacted with Satoshi. Another of Corda’s key developers is James Carlyle, who is a co-founder of Obscuro, which is now known as The Encrypted Network a.k.a TEN.
R3 is a consortium of banks who sought to utilise DLT.
You see, these centralised bodies are competitors as well as sort-of friends. It requires a lot of trust and the financial architecture has been long due an overhaul. There are lots of siloed systems and costly ways to get required information and interactions can take days and there are all sorts of delays because the boss’s cat is off sick and the receptionist missed the phone call… AND SO ON.
DLT and smart contracts can cut out many intermediaries, it can cut down times and it can be immutable, making it easy to verify agreements and transactions. Data is conveniently on-chain, localising the necessary information.
Therefore, the first step was to create a stellar piece of tech, this was Corda. This has gone on to be used in many CBDC projects, it is used by banks and gold was even tokenised on it by HSBC. This is handling vast amounts of financial wealth and dealing with large volume transactions successfully.
Now, the real wealth needs to be circulated, you can only get so far swapping back and forth in siloed private blockchains.
R3 was focused on enterprise software DLT and once they had a foothold in that realm, they looked towards secure and confidential computing.
The big players, the ones with the large AUM numbers, with the suits and ties, they want in on the public blockchain space, they want the liquidity, they want the gains as well. Yet they aren’t just going to stroll in and place large sums for the world to see.
No, they will want someone who is trusted to provided the confidential computing and R3 said, “look no further.”
R3 dispatched an alpha team to fulfil the requirement, to scratch the itch and they have produced TEN.
James Carlyle was a crucial in contributing to Corda, he was the director of the Corda Network Foundation. He lived in Japan, can speak Japanese, once he was stranded at sea on his sailing vessel, survived by capturing fish. He seemed to enjoy it and was lean from the experience, legend.
Cais Manai went from a coffeeshop to Corda via investment banking. From cappuccinos to CBDCs. Cais is cooking code contemporaries can’t comprehend.
Tudor Malene has encryption experience in the military, keeping the Queen – RIP – and the realm safe and at ease before he was a lead engineer on Corda.
Gavin Thomas, another Corda OG, and he helped TP ICAP Fusion platform raise up from genesis to completion. This is an award-winning OTC platform, bringing liquidity pools for brands, energy, credit, FX and more. Which is ideal experience for TEN.
TEN, TEN, TEN. Psilocybe, what is TEN?
TEN is the advancement of Ethereum.
How, Psilocybe?
It is nother Layer Two for Ethereum but that isn’t it. It is a Confidential Roll-Up. Not an optimistic roll up, not a zk roll up. A Confidential Roll Up.
TEN is utilising Trusted Execution Environment. This enables TEN to scale Ethereum, keep costs low, and keep necessary information private. A developer can configure the decryption periods and they can stick with Solidity rather than needing to learn a new programming language as TEN uses the EVM entirely. MetaMask can be used from day one.
Another important detail with TEN, it uses a decentralised sequencer. Metis is the only Layer two currently that does. This helps against front-running, transaction tampering, censorship and breeds decentralisation. A centralised sequencer means the network is vulnerable to tampering of transactions and censoring, therefore decentralising this increases users trust in the network, that it will not be interfered with.
If you have a game, it can be randomised and information can be hidden even from the developers. This is good for poker, for casinos, for battleships, and larger games where you can hide a reward in a map like a version of Skyrim or Civilisation.
If we take that further, you can have sealed auctions and keep the information private until the necessary parties can read them, again in private.
That also means private agreements can be made, the blockchain locks in the contract and TEN allows the details to be viewed only by those in the agreement.
Decentralisation offers great potential for institutions. Counterparties can utilise a trustless protocol to conduct business. TEN can process transactions off-chain to reduce congestion, settling them when necessary. This helps high-frequency trading with the lack of bottlenecks and it helps dark pools.
Decentralised, private dark pools help over come the conflicts of interest and misuse of order information in traditional dark pools, furthermore it can interact with CEXs, DEXs and OTCs of blockchain.
Data is protected by privacy, this can benefit people when they provide sensitive information and documents, for example, about health, finance or about insurance. TEN can verify the inputs and then erase the documents after verification.
All in all, TEN has the reassurance of a strong, high-calibre team that has extensive experience with high-grade experiments and products. R3 is technically separate from TEN but that doesn’t mean they are divorced and never speak to one another, quite the opposite, aforementioned, TEN will have a bridge to R3’s Corda, no one else does.
Lastly, I will leave this nugget with you.
R3 has worked with the World Bank before, on CBDCs and on Project Jura, which also included BIS and Swiss National Bank, where wholesale Swiss Franc CBDC was experimented on. In May 2024, the World Bank announced a partnership with SIX exchange and SNB on a 7-year CHF 200 million digital bond, utilising wCBDC. R3 helps with the infrastructure of this.
The World Bank has been exploring tokenisation as corruption tends to siphon off the value of the loans provided.
When the World Bank opens up an asset, this leads to it becoming rather large in market capitalisation. The precedent it sets is crucial for any market it exemplifies. For example, the World Bank issued the world’s first green bond, this is paved the way for the sustainable bond market, which grew to $1tn in 2021.
2018, the World Bank released the “Global Blockchain Bond” or “Bond-I”, which was managed with DLT. The World Bank sells bonds and takes these funds and provides them to emerging market economies.
And the consortium and people that help with these sorts of initiatives produced The Encrypted Network.
15/10/2024
TEN will have a bridge to Corda. This is significant.
Why though?
TEN was originally called Obscuro and came out of Obscuro Labs.
Obscuro Labs came out of the Digital Asset Labs of R3.
R3 made Corda.
One of Corda’s devs, Mike Hearn, was one of the few core developers of Bitcoin and interacted with Satoshi. Another of Corda’s key developers is James Carlyle, who is a co-founder of Obscuro, which is now known as The Encrypted Network a.k.a TEN.
R3 is a consortium of banks who sought to utilise DLT.
You see, these centralised bodies are competitors as well as sort-of friends. It requires a lot of trust and the financial architecture has been long due an overhaul. There are lots of siloed systems and costly ways to get required information and interactions can take days and there are all sorts of delays because the boss’s cat is off sick and the receptionist missed the phone call… AND SO ON.
DLT and smart contracts can cut out many intermediaries, it can cut down times and it can be immutable, making it easy to verify agreements and transactions. Data is conveniently on-chain, localising the necessary information.
Therefore, the first step was to create a stellar piece of tech, this was Corda. This has gone on to be used in many CBDC projects, it is used by banks and gold was even tokenised on it by HSBC. This is handling vast amounts of financial wealth and dealing with large volume transactions successfully.
Now, the real wealth needs to be circulated, you can only get so far swapping back and forth in siloed private blockchains.
R3 was focused on enterprise software DLT and once they had a foothold in that realm, they looked towards secure and confidential computing.
The big players, the ones with the large AUM numbers, with the suits and ties, they want in on the public blockchain space, they want the liquidity, they want the gains as well. Yet they aren’t just going to stroll in and place large sums for the world to see.
No, they will want someone who is trusted to provided the confidential computing and R3 said, “look no further.”
R3 dispatched an alpha team to fulfil the requirement, to scratch the itch and they have produced TEN.
James Carlyle was a crucial in contributing to Corda, he was the director of the Corda Network Foundation. He lived in Japan, can speak Japanese, once he was stranded at sea on his sailing vessel, survived by capturing fish. He seemed to enjoy it and was lean from the experience, legend.
Cais Manai went from a coffeeshop to Corda via investment banking. From cappuccinos to CBDCs. Cais is cooking code contemporaries can’t comprehend.
Tudor Malene has encryption experience in the military, keeping the Queen – RIP – and the realm safe and at ease before he was a lead engineer on Corda.
Gavin Thomas, another Corda OG, and he helped TP ICAP Fusion platform raise up from genesis to completion. This is an award-winning OTC platform, bringing liquidity pools for brands, energy, credit, FX and more. Which is ideal experience for TEN.
TEN, TEN, TEN. Psilocybe, what is TEN?
TEN is the advancement of Ethereum.
How, Psilocybe?
It is nother Layer Two for Ethereum but that isn’t it. It is a Confidential Roll-Up. Not an optimistic roll up, not a zk roll up. A Confidential Roll Up.
TEN is utilising Trusted Execution Environment. This enables TEN to scale Ethereum, keep costs low, and keep necessary information private. A developer can configure the decryption periods and they can stick with Solidity rather than needing to learn a new programming language as TEN uses the EVM entirely. MetaMask can be used from day one.
Another important detail with TEN, it uses a decentralised sequencer. Metis is the only Layer two currently that does. This helps against front-running, transaction tampering, censorship and breeds decentralisation. A centralised sequencer means the network is vulnerable to tampering of transactions and censoring, therefore decentralising this increases users trust in the network, that it will not be interfered with.
If you have a game, it can be randomised and information can be hidden even from the developers. This is good for poker, for casinos, for battleships, and larger games where you can hide a reward in a map like a version of Skyrim or Civilisation.
If we take that further, you can have sealed auctions and keep the information private until the necessary parties can read them, again in private.
That also means private agreements can be made, the blockchain locks in the contract and TEN allows the details to be viewed only by those in the agreement.
Decentralisation offers great potential for institutions. Counterparties can utilise a trustless protocol to conduct business. TEN can process transactions off-chain to reduce congestion, settling them when necessary. This helps high-frequency trading with the lack of bottlenecks and it helps dark pools.
Decentralised, private dark pools help over come the conflicts of interest and misuse of order information in traditional dark pools, furthermore it can interact with CEXs, DEXs and OTCs of blockchain.
Data is protected by privacy, this can benefit people when they provide sensitive information and documents, for example, about health, finance or about insurance. TEN can verify the inputs and then erase the documents after verification.
All in all, TEN has the reassurance of a strong, high-calibre team that has extensive experience with high-grade experiments and products. R3 is technically separate from TEN but that doesn’t mean they are divorced and never speak to one another, quite the opposite, aforementioned, TEN will have a bridge to R3’s Corda, no one else does.
Lastly, I will leave this nugget with you.
R3 has worked with the World Bank before, on CBDCs and on Project Jura, which also included BIS and Swiss National Bank, where wholesale Swiss Franc CBDC was experimented on. In May 2024, the World Bank announced a partnership with SIX exchange and SNB on a 7-year CHF 200 million digital bond, utilising wCBDC. R3 helps with the infrastructure of this.
The World Bank has been exploring tokenisation as corruption tends to siphon off the value of the loans provided.
When the World Bank opens up an asset, this leads to it becoming rather large in market capitalisation. The precedent it sets is crucial for any market it exemplifies. For example, the World Bank issued the world’s first green bond, this is paved the way for the sustainable bond market, which grew to $1tn in 2021.
2018, the World Bank released the “Global Blockchain Bond” or “Bond-I”, which was managed with DLT. The World Bank sells bonds and takes these funds and provides them to emerging market economies.
And the consortium and people that help with these sorts of initiatives produced The Encrypted Network.
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