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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 RobinsonThe Alameda FTX Infinite Money Glitch
Something peculiar came out of the collapse of FTX that I have yet to see anyone talking about. Alameda created an investment glitch that allowed them to invest way more cash than they had available. I noticed this when REN project reported they had lost their treasury, because it was all on FTX. Why was it all on FTX? Earlier in the year Alameda invested in REN Project, giving them a large sum of money and enticing them to build on Solana. As part of the terms of this investment they were re...
<100 subscribers
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 RobinsonThe Alameda FTX Infinite Money Glitch
Something peculiar came out of the collapse of FTX that I have yet to see anyone talking about. Alameda created an investment glitch that allowed them to invest way more cash than they had available. I noticed this when REN project reported they had lost their treasury, because it was all on FTX. Why was it all on FTX? Earlier in the year Alameda invested in REN Project, giving them a large sum of money and enticing them to build on Solana. As part of the terms of this investment they were re...
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Before DeFi my biggest passion was decentralized social media (DeSo). Building a good social network is one of the worlds trickiest problems and can be done better with decentralization.
What benefits does decentralization bring?
You control your account/s
An account for each topic
User-centric moderation
A separate data layer
A flourishing app ecosystem
Firstly you control your keys, so nobody can restrict your access because they don't like what you have to say.
Because of this you can create as many accounts as you like. Rather than one account for "Tim", I could have one for Politics, Web3, Family, Food, Games etc. People who care about Web3 can follow that account, foodies can follow the Food account etc. Then when I post I'll know it's something everyone wants to see.
Many people see the above as flaws. If you let everyone create many accounts, and you can't ban anyone, won't the system become flooded with trolls and spam?
This is where user-centric moderation shines. Global moderation doesn't work and will never work, because there is no set of rules every country and culture in the world will agree on.
So why don't we empower users to choose moderation that makes sense to them? Free speech maximalists can see everything, and everyone else can enforce their own rules on their own feed.
Rather than having some blessed global moderators with super powers, you elect your own moderators. Those moderators could be your friends, media companies (NYT, Reuters, etc), companies specializing in moderation (Facebook, Net Nanny) etc.
These moderators can work in the background filtering and curating your feed the way you like it, and you can add or remove them at any time.
The final, most underrated advantage of DeSo is it separates the data layer from the apps. It makes social media more like email, where there are many platforms all talking the same protocol. This stops anyone from being locked into a network they hate because their friends are there. It'll also unleash an ecosystem of apps which can be used with the same data.
I'll be writing more articles on this over the coming week. Don't underestimate how powerful and world changing DeSo could be with only a little more progress.
Before DeFi my biggest passion was decentralized social media (DeSo). Building a good social network is one of the worlds trickiest problems and can be done better with decentralization.
What benefits does decentralization bring?
You control your account/s
An account for each topic
User-centric moderation
A separate data layer
A flourishing app ecosystem
Firstly you control your keys, so nobody can restrict your access because they don't like what you have to say.
Because of this you can create as many accounts as you like. Rather than one account for "Tim", I could have one for Politics, Web3, Family, Food, Games etc. People who care about Web3 can follow that account, foodies can follow the Food account etc. Then when I post I'll know it's something everyone wants to see.
Many people see the above as flaws. If you let everyone create many accounts, and you can't ban anyone, won't the system become flooded with trolls and spam?
This is where user-centric moderation shines. Global moderation doesn't work and will never work, because there is no set of rules every country and culture in the world will agree on.
So why don't we empower users to choose moderation that makes sense to them? Free speech maximalists can see everything, and everyone else can enforce their own rules on their own feed.
Rather than having some blessed global moderators with super powers, you elect your own moderators. Those moderators could be your friends, media companies (NYT, Reuters, etc), companies specializing in moderation (Facebook, Net Nanny) etc.
These moderators can work in the background filtering and curating your feed the way you like it, and you can add or remove them at any time.
The final, most underrated advantage of DeSo is it separates the data layer from the apps. It makes social media more like email, where there are many platforms all talking the same protocol. This stops anyone from being locked into a network they hate because their friends are there. It'll also unleash an ecosystem of apps which can be used with the same data.
I'll be writing more articles on this over the coming week. Don't underestimate how powerful and world changing DeSo could be with only a little more progress.
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