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Tim RobinsonWhat is Ethereum
Ethereum is the settlement layer for global finance. It is the only blockchain that can be this. If you're surprised by the above statement, this article is for you. Other chains will still host many useful apps, and play niche roles, but the global financial system will run on Ethereum.What is a settlement layer?Rather than being a chain where consumers go to use apps and trade with their friends, a settlement layer is a chain that other chains build upon. It specializes in 5 things:Sec...
Tim RobinsonWhy Bitcoin Lightning Sucks
Bitcoin Lightning is mostly a meme used as a retort to people who say "Bitcoin doesn't scale", it's not a long term solution to anything. It's sad there are so few technically competent people left in the Bitcoin community to point this out, but its true. If Bitcoin had a hard fork to make ZK Rollups possible it would completely obsolete the lightning network (and be good for Bitcoins security budget!).What is the lightning network and how does it work?It's a state channel...
Tim RobinsonHow do we moderate Decentralized Social Media?
Moderation is the number one concern I've heard about DeSo. It's incredibly important as almost every protocol and platform on the internet has issues with spam. Moderating DeSo requires a completely different mindset compared to traditional social media. Here are three of my favorite options, in increasing complexity:Friends-only social mediaOpt-in moderatorsReputation SystemsFriends-only social mediaBy default your app could only show you posts from friends and/or friends of frien...
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Tim RobinsonWhat is Ethereum
Ethereum is the settlement layer for global finance. It is the only blockchain that can be this. If you're surprised by the above statement, this article is for you. Other chains will still host many useful apps, and play niche roles, but the global financial system will run on Ethereum.What is a settlement layer?Rather than being a chain where consumers go to use apps and trade with their friends, a settlement layer is a chain that other chains build upon. It specializes in 5 things:Sec...
Tim RobinsonWhy Bitcoin Lightning Sucks
Bitcoin Lightning is mostly a meme used as a retort to people who say "Bitcoin doesn't scale", it's not a long term solution to anything. It's sad there are so few technically competent people left in the Bitcoin community to point this out, but its true. If Bitcoin had a hard fork to make ZK Rollups possible it would completely obsolete the lightning network (and be good for Bitcoins security budget!).What is the lightning network and how does it work?It's a state channel...
Tim RobinsonHow do we moderate Decentralized Social Media?
Moderation is the number one concern I've heard about DeSo. It's incredibly important as almost every protocol and platform on the internet has issues with spam. Moderating DeSo requires a completely different mindset compared to traditional social media. Here are three of my favorite options, in increasing complexity:Friends-only social mediaOpt-in moderatorsReputation SystemsFriends-only social mediaBy default your app could only show you posts from friends and/or friends of frien...
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Most people have a very shallow view of Web3, they see it as a way to speculate and get rich quick, when this is merely the tip of the iceberg.
What's it actually about?
Freedom
Disseminating Power
Experimentation
Collaboration
Communities
First and foremost Web3 is about individual freedom and liberty. It's a place where you choose where to spend your money and time, and there are no moderators or gatekeepers to stop you.
This causes a dissemination of power. Because everyone has individual freedom, there is no Zuckerburg, Musk, or Government with far more power than everyone else who can moderate or block anyone from participating.
When people are empowered they do a ton of experimentation. There are millions of tokens and NFT's now. Most of them are crap. This is OK, because some have led to amazing communities and products you'd never see come out of a traditional company.
I work for a DAO called Balancer where we build open source DeFi infrastructure. There are now 20+ different protocols built on our smart contracts. Almost all these companies are open source and open to integrations, and they have hundreds of people building tools and integrations with them too.
Previously companies had API's to allow collaboration, but would cut off access to anyone who built competing products. In Web3 everything is open source and permissionless, so this can't happen. Anyone can integrate with Balancer without asking and we can't stop them. This is a good thing, it gives people freedom to experiment.
There are hundreds of DAO's like Balancer, building software, art, events, and more for their community, funded through Web3 protocols.
Web3 is about being able to be yourself with communities you enjoy, not trying to get rich. It's about people all over the world working together to create great things we'd never see from traditional companies. What would you like to create if you had the freedom to create anything?
Most people have a very shallow view of Web3, they see it as a way to speculate and get rich quick, when this is merely the tip of the iceberg.
What's it actually about?
Freedom
Disseminating Power
Experimentation
Collaboration
Communities
First and foremost Web3 is about individual freedom and liberty. It's a place where you choose where to spend your money and time, and there are no moderators or gatekeepers to stop you.
This causes a dissemination of power. Because everyone has individual freedom, there is no Zuckerburg, Musk, or Government with far more power than everyone else who can moderate or block anyone from participating.
When people are empowered they do a ton of experimentation. There are millions of tokens and NFT's now. Most of them are crap. This is OK, because some have led to amazing communities and products you'd never see come out of a traditional company.
I work for a DAO called Balancer where we build open source DeFi infrastructure. There are now 20+ different protocols built on our smart contracts. Almost all these companies are open source and open to integrations, and they have hundreds of people building tools and integrations with them too.
Previously companies had API's to allow collaboration, but would cut off access to anyone who built competing products. In Web3 everything is open source and permissionless, so this can't happen. Anyone can integrate with Balancer without asking and we can't stop them. This is a good thing, it gives people freedom to experiment.
There are hundreds of DAO's like Balancer, building software, art, events, and more for their community, funded through Web3 protocols.
Web3 is about being able to be yourself with communities you enjoy, not trying to get rich. It's about people all over the world working together to create great things we'd never see from traditional companies. What would you like to create if you had the freedom to create anything?
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