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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I shared my thoughts about Protocol.
TL;DR
I shared what protocol is and how to use it in the crypto space.
Some Takeaway
A protocol is a set of rules for a computer program to run and follow. In crypto, a protocol is a pre-set of rules to establish the structure of the blockchain. Everyone has to follow the rule to join the crypto. It can only be changed through a collectively voting process in an ideal situation or change by the programmer in a real situation. Nonetheless, a protocol is a fundamental layer of the blockchain to build up the system through decentralization, security, and scalability.
Web2 vs. Web3 Protocol
Internet protocol is the most common protocol that you are using but never bother to learn from it. It is a foundation for many applications to run on top of it including well-known companies Facebook, Amazon, Twitter, and many others. Similarly, the crypto protocol is a foundation for many of their applications to run including Bitcoin, Ethereum, Dogecoin, and many others.
Thin vs. Fat
Web2 protocol is a thin protocol which means there are many more applications to run on the top compared to a fat protocol in Web3 that only a few run on the top. In some sense, Web2 protocol seems more decentralized than Web3 protocol which is more heavily reliant on a few applications to run.
How to Understand a Protocol
Thinking about your computer system as Windows or Mac. A protocol is like a system from either Windows or Mac. Bitcoin or Ethereum is like software that runs on Windows or Mac.
Why Protocol
A protocol gives secure access to the blockchain. Particularly on the argument of the double-spending issue. In order to make digital money work, one should not allow spending the same money twice or they can become printing as many as you want to and to diminish the value of the digital money. The protocol becomes critical to allow all participants to follow.
In conclusion
A protocol is a set of rules that the software program follows and allows everyone to interact within the system to follow. It is fundamental security of the system for people to access the blockchain.
I shared my thoughts about Protocol.
TL;DR
I shared what protocol is and how to use it in the crypto space.
Some Takeaway
A protocol is a set of rules for a computer program to run and follow. In crypto, a protocol is a pre-set of rules to establish the structure of the blockchain. Everyone has to follow the rule to join the crypto. It can only be changed through a collectively voting process in an ideal situation or change by the programmer in a real situation. Nonetheless, a protocol is a fundamental layer of the blockchain to build up the system through decentralization, security, and scalability.
Web2 vs. Web3 Protocol
Internet protocol is the most common protocol that you are using but never bother to learn from it. It is a foundation for many applications to run on top of it including well-known companies Facebook, Amazon, Twitter, and many others. Similarly, the crypto protocol is a foundation for many of their applications to run including Bitcoin, Ethereum, Dogecoin, and many others.
Thin vs. Fat
Web2 protocol is a thin protocol which means there are many more applications to run on the top compared to a fat protocol in Web3 that only a few run on the top. In some sense, Web2 protocol seems more decentralized than Web3 protocol which is more heavily reliant on a few applications to run.
How to Understand a Protocol
Thinking about your computer system as Windows or Mac. A protocol is like a system from either Windows or Mac. Bitcoin or Ethereum is like software that runs on Windows or Mac.
Why Protocol
A protocol gives secure access to the blockchain. Particularly on the argument of the double-spending issue. In order to make digital money work, one should not allow spending the same money twice or they can become printing as many as you want to and to diminish the value of the digital money. The protocol becomes critical to allow all participants to follow.
In conclusion
A protocol is a set of rules that the software program follows and allows everyone to interact within the system to follow. It is fundamental security of the system for people to access the blockchain.
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