xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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Taro is Bitcoin’s smart contract solution for its scalability. However, unlike Ethereum, the smart contract has been native to its blockchain. Bitcoin has to design a new channel to communicate with its blockchain.
Taro or Taproot Asset Presentation Overlay gives a high-speed channel to transact through the lightning network.
Merkle Sum, Sparse Merkle Tree, or MS-SMT is a clever way to bypass the security layer to conclude its own transactions, then input the conclusion of the transaction into the security layer.
Wait, what? What tree? And What Security?
Thinking about a blockchain is a tree that grows its root, and each branch is a block link within the blockchain. So you have a spore that links with the branch. That is the key idea of Taro:
It runs a code to speed up the transaction outside of the blockchain layer to speed up the exchange and then return the final transaction value into the blockchain.
https://blog.ethereum.org/2015/11/15/merkling-in-ethereum/
https://docs.lightning.engineering/the-lightning-network/taro/taro-on-lightning
Lightning Network is a channel for users to have their transaction sent into a BlockBox with a fraction of the fee, entered into an exchange, and returned to the receiver, who also pays a fraction of the fee to receive funds.
Such BlockBox can:
Speed up the transactions
Accurate returns funds to the destination
No need to verify identities
Taro created a channel similar to traffic flow when roads are categorized between cars, trucks, and trains.
Of course, when you put everyone in the street, you get traffic congestion!
Lightning speed gets your own channel to bypass the traffic congestion:
BUT…
Such “bypass” only impacts on:
small transactions
decrease security
increase overall blockchain fees of Bitcoin
There you have it—the Taproot Upgraded.
If you enjoy reading my articles, buy me a coffee here.
Photo by Emma Gossett on Unsplash
Taro is Bitcoin’s smart contract solution for its scalability. However, unlike Ethereum, the smart contract has been native to its blockchain. Bitcoin has to design a new channel to communicate with its blockchain.
Taro or Taproot Asset Presentation Overlay gives a high-speed channel to transact through the lightning network.
Merkle Sum, Sparse Merkle Tree, or MS-SMT is a clever way to bypass the security layer to conclude its own transactions, then input the conclusion of the transaction into the security layer.
Wait, what? What tree? And What Security?
Thinking about a blockchain is a tree that grows its root, and each branch is a block link within the blockchain. So you have a spore that links with the branch. That is the key idea of Taro:
It runs a code to speed up the transaction outside of the blockchain layer to speed up the exchange and then return the final transaction value into the blockchain.
https://blog.ethereum.org/2015/11/15/merkling-in-ethereum/
https://docs.lightning.engineering/the-lightning-network/taro/taro-on-lightning
Lightning Network is a channel for users to have their transaction sent into a BlockBox with a fraction of the fee, entered into an exchange, and returned to the receiver, who also pays a fraction of the fee to receive funds.
Such BlockBox can:
Speed up the transactions
Accurate returns funds to the destination
No need to verify identities
Taro created a channel similar to traffic flow when roads are categorized between cars, trucks, and trains.
Of course, when you put everyone in the street, you get traffic congestion!
Lightning speed gets your own channel to bypass the traffic congestion:
BUT…
Such “bypass” only impacts on:
small transactions
decrease security
increase overall blockchain fees of Bitcoin
There you have it—the Taproot Upgraded.
If you enjoy reading my articles, buy me a coffee here.
Photo by Emma Gossett on Unsplash
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