
Proof of Stake vs Proof of Work
The debate of which consensus is better proof of work or proof of stake is an ongoing debate. Even though there are advantages and disadvantages of both the consensus. Let me explain that each consensus has its own primary and secondary objectives. The Bitcoin network utilises PoW consensus which is used for pure monetary value and preservation of buying power as a primary objective by burning a physical resource. Have you ever come across any Defi exchanges using Bitcoin network in its exist...

Ethereum smart contract lessons in designing ₿itcoin covenants
Ethereum smart contracts have become more resilient over the years because of many hard forks, radical non-conservative management and POS migration. If we implement covenants in ₿itcoin it will be wise to learn from Ethereum mistakes and to prevent ₿itcoin network getting stuck in similar loops and traps. Let me discuss a concrete example, taproot was activated in 2021 with the objective of progressively upgrading to covenants. We all know the unintended consequences of ordinals and BRC20 on...

Scope of Non-Fungible Tokens
Non-fungible tokens represents a unique non-fungible digital asset that is stored in a blockchain. It tracks the proof of ownership of the digital asset from its very existence and its authenticity is verifiable on the blockchain. NFTs can be created for anything that can be encoded into a digital format. NFTs can either be minted as ERC 721 or ERC 1155. ERC 1155 standard was developed by the gaming company Enjin and was released in June 2018. It was specifically designed for GameFi, a web3 b...


Proof of Stake vs Proof of Work
The debate of which consensus is better proof of work or proof of stake is an ongoing debate. Even though there are advantages and disadvantages of both the consensus. Let me explain that each consensus has its own primary and secondary objectives. The Bitcoin network utilises PoW consensus which is used for pure monetary value and preservation of buying power as a primary objective by burning a physical resource. Have you ever come across any Defi exchanges using Bitcoin network in its exist...

Ethereum smart contract lessons in designing ₿itcoin covenants
Ethereum smart contracts have become more resilient over the years because of many hard forks, radical non-conservative management and POS migration. If we implement covenants in ₿itcoin it will be wise to learn from Ethereum mistakes and to prevent ₿itcoin network getting stuck in similar loops and traps. Let me discuss a concrete example, taproot was activated in 2021 with the objective of progressively upgrading to covenants. We all know the unintended consequences of ordinals and BRC20 on...

Scope of Non-Fungible Tokens
Non-fungible tokens represents a unique non-fungible digital asset that is stored in a blockchain. It tracks the proof of ownership of the digital asset from its very existence and its authenticity is verifiable on the blockchain. NFTs can be created for anything that can be encoded into a digital format. NFTs can either be minted as ERC 721 or ERC 1155. ERC 1155 standard was developed by the gaming company Enjin and was released in June 2018. It was specifically designed for GameFi, a web3 b...

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What is entropy?
Entropy is the ratio of order:disorder @ any given point in time, during the initial stages of any new creation order is maximum & disorder is at it’s minimum. As the creation ages order gets minimal & disorder gets maximum & eventually it dies.
As the blockchain protocol’s data bloat & complexity grows over time, it results in increased entropy. It will eventually lead to aging & death as every other living organism in this planet.
Bloat & complexity happens as historical data accumulates & as new feature upgrades.
Historical data: any transaction made and any account created at any point in history needs to be stored by all clients forever, and downloaded by any new clients making a full sync to the network. This causes client load and sync time to keep increasing over time, even as the chain's capacity remains the same.
Protocol features: it's much easier to add a new feature than to remove an old one, causing code complexity to increase over time.
Let me give an example the taproot script feature upgrade resulted in an unintended consequence of the memecoin bloat.
If ₿itcoin has to survive as a store of value like gold across space & time it has to minimize complexity & bloat without comprising permanence. It can be achieved by minimizing client storage requirement of every node & by minimizing protocol complexity by keeping features simple & minimal.
Divine simplicity is the staircase to immutability & immortality.
Reverse entropy is the technique employed by a mythical bird Ph0enix. As the bird ages it purges itself with fire & it’s reborn from its ashes.
If ₿itcoin has to survive across space & time it has it employ reverse entropy by purging itself of arbitrary data blobs as time progress & by keeping an immutable copy of Unspent UTX0s.
References
What is entropy?
Entropy is the ratio of order:disorder @ any given point in time, during the initial stages of any new creation order is maximum & disorder is at it’s minimum. As the creation ages order gets minimal & disorder gets maximum & eventually it dies.
As the blockchain protocol’s data bloat & complexity grows over time, it results in increased entropy. It will eventually lead to aging & death as every other living organism in this planet.
Bloat & complexity happens as historical data accumulates & as new feature upgrades.
Historical data: any transaction made and any account created at any point in history needs to be stored by all clients forever, and downloaded by any new clients making a full sync to the network. This causes client load and sync time to keep increasing over time, even as the chain's capacity remains the same.
Protocol features: it's much easier to add a new feature than to remove an old one, causing code complexity to increase over time.
Let me give an example the taproot script feature upgrade resulted in an unintended consequence of the memecoin bloat.
If ₿itcoin has to survive as a store of value like gold across space & time it has to minimize complexity & bloat without comprising permanence. It can be achieved by minimizing client storage requirement of every node & by minimizing protocol complexity by keeping features simple & minimal.
Divine simplicity is the staircase to immutability & immortality.
Reverse entropy is the technique employed by a mythical bird Ph0enix. As the bird ages it purges itself with fire & it’s reborn from its ashes.
If ₿itcoin has to survive across space & time it has it employ reverse entropy by purging itself of arbitrary data blobs as time progress & by keeping an immutable copy of Unspent UTX0s.
References
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