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...
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 ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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...
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 ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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If you think Amazon is an online retail store, then you need to rethink it again. Amazon is an online cloud rental service. If you think Coinbase is a crypto bank, then you need to think about it again. Coinbase is a cloud crypto rental service.
Here is 1 min summary of the article if you want to skip the reading.
Amazon - A Server Farm
Amazon has built up a server farm for many other businesses to rent and use. They built the infrastructure that provides computer resources to run businesses on the platform including many features. Similar to the idea of crypto mining nodes, Amazon provides computing hubs to users and prevents internet outages.
Coinbase Crypto Hub
Coinbase wants to achieve the same hub idea for crypto. Each blockchain has its individual internet services and layers of infrastructure running on top of that. Coinbase wants to provide a service that can run consistently without potential outage and DApps and other crypto projects can run on the blockchain and on the top of Coinbase service.
Centralized Service Hub
Only the problem with such an idea is that blockchain is decentralized and autonomous. The centralized hub will create a single point of failure and it defeats the purpose of the blockchain.
Decentralized Blockchain-based Internet
Since the internet will create a single point of failure, why don’t we create a blockchain-like internet with many nodes to provide internet speed and to eliminate the potential single point of failure?
Decentralized Blockchain-based Cloud Service
Perhaps there will be an infrastructure to have many hubs/nodes to support cloud computing and provide solutions without a single point of failure. Nodes will have sufficient computing power to support clouds and provide consistent service without possible interruption. Crypto projects can then run on the decentralized clouds and users can access anywhere they want to.
In conclusion
Coinbase is ambitious to become crypto AWS. However, decentralized cloud computing can easily outperform Coinbase.
If you think Amazon is an online retail store, then you need to rethink it again. Amazon is an online cloud rental service. If you think Coinbase is a crypto bank, then you need to think about it again. Coinbase is a cloud crypto rental service.
Here is 1 min summary of the article if you want to skip the reading.
Amazon - A Server Farm
Amazon has built up a server farm for many other businesses to rent and use. They built the infrastructure that provides computer resources to run businesses on the platform including many features. Similar to the idea of crypto mining nodes, Amazon provides computing hubs to users and prevents internet outages.
Coinbase Crypto Hub
Coinbase wants to achieve the same hub idea for crypto. Each blockchain has its individual internet services and layers of infrastructure running on top of that. Coinbase wants to provide a service that can run consistently without potential outage and DApps and other crypto projects can run on the blockchain and on the top of Coinbase service.
Centralized Service Hub
Only the problem with such an idea is that blockchain is decentralized and autonomous. The centralized hub will create a single point of failure and it defeats the purpose of the blockchain.
Decentralized Blockchain-based Internet
Since the internet will create a single point of failure, why don’t we create a blockchain-like internet with many nodes to provide internet speed and to eliminate the potential single point of failure?
Decentralized Blockchain-based Cloud Service
Perhaps there will be an infrastructure to have many hubs/nodes to support cloud computing and provide solutions without a single point of failure. Nodes will have sufficient computing power to support clouds and provide consistent service without possible interruption. Crypto projects can then run on the decentralized clouds and users can access anywhere they want to.
In conclusion
Coinbase is ambitious to become crypto AWS. However, decentralized cloud computing can easily outperform Coinbase.
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