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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The crypto bridge is useless and unnecessary. All types of blockchain bridge have a common security weak point that turns blockchain vulnerable to hacking.
https://blog.makerdao.com/what-are-blockchain-bridges-and-why-are-they-important-for-defi/
Of course, blockchain bridge has lots of practical use but turns it into a centralized blockchain.
The trade-off seems not to add up.
The current Binance Smart Chain attacked further demonstrated the weakness of the bridge.
https://twitter.com/samczsun/status/1578167198203289600
The blockchain is useless when the smart contract can communicate with the virtual machine and gives demand.
Why you need the blockchain when the smart contract can direct what to do?
That is the core fallacy that the bridge will never work.
When you try to bridge from one blockchain to another, rather than bridging through with multiple chains, you will have to choose one blockchain to avoid bridging.
Another option is to choose a native multiple-chain layer one solution such as Cosmos.
But avoid at all costs for now because the bridge has not yet a solution of the multi-chains.
Support writer here or join Medium here
Photo by David Martin on Unsplash
The crypto bridge is useless and unnecessary. All types of blockchain bridge have a common security weak point that turns blockchain vulnerable to hacking.
https://blog.makerdao.com/what-are-blockchain-bridges-and-why-are-they-important-for-defi/
Of course, blockchain bridge has lots of practical use but turns it into a centralized blockchain.
The trade-off seems not to add up.
The current Binance Smart Chain attacked further demonstrated the weakness of the bridge.
https://twitter.com/samczsun/status/1578167198203289600
The blockchain is useless when the smart contract can communicate with the virtual machine and gives demand.
Why you need the blockchain when the smart contract can direct what to do?
That is the core fallacy that the bridge will never work.
When you try to bridge from one blockchain to another, rather than bridging through with multiple chains, you will have to choose one blockchain to avoid bridging.
Another option is to choose a native multiple-chain layer one solution such as Cosmos.
But avoid at all costs for now because the bridge has not yet a solution of the multi-chains.
Support writer here or join Medium here
Photo by David Martin on Unsplash
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