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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If Bitcoin is digital gold, Ethereum will be digital silver.
But, cryptocurrency is all about cybersecurity.
Bitcoin uses the SHA256 algorithm for mining Proof of Work, while Ethereum uses the Keccak256 algorithm. Noted that Ethereum is shifting PoW to PoS in the coming months.
Because SHA-2 was available in 2001 and SHA-3 was available in 2015, Ethereum's blockchain is more secure than Bitcoin fundamentally.
Since Bitcoin is mimicking gold, the progress of its development is very slow.
The benefits of the gold system are:
inflation resistance
counterfeit resistance
economic recession resistance
Bitcoin has capped the supply at 21 million coins to fight its inflation. The mining of Bitcoin to prevent double-spending and the power of inputting to mine Bitcoin can prevent Bitcoin price drops.
Ethereum improves Bitcoin by increasing the flexibility of the blockchain, which can be programmable through a smart contract.
Ethereum is an unlimited supply.
So the disadvantages of Ethereum are:
inflation
create economic recession
Proof of Stake will make Ethereum worst.
Even though there is a burning mechanism to prevent inflation, Proof of Stake mimics the fiat system to inflate the economy even more than you can expect.
Whoever has more Ethers will consistently have more rewards than people with fewer Ethers.
The economy Ethereum created becomes more unfair.
Of course, PoS can make Ethereum works a bit faster in the short term to attract more developers to use the blockchain. However, Ethereum will face network congestion again.
Is Bitcoin preferable, then?
People want to expand the usage of the blockchain beyond what it was designed to be without improving its fundamentals.
It will be tough to do so due to sacrificing its security.
And scalability may not even satisfy the demand.
Of course, technology continues to improve.
If you enjoy reading my articles, buy me a coffee here.
Photo by Zoltan Tasi on Unsplash
If Bitcoin is digital gold, Ethereum will be digital silver.
But, cryptocurrency is all about cybersecurity.
Bitcoin uses the SHA256 algorithm for mining Proof of Work, while Ethereum uses the Keccak256 algorithm. Noted that Ethereum is shifting PoW to PoS in the coming months.
Because SHA-2 was available in 2001 and SHA-3 was available in 2015, Ethereum's blockchain is more secure than Bitcoin fundamentally.
Since Bitcoin is mimicking gold, the progress of its development is very slow.
The benefits of the gold system are:
inflation resistance
counterfeit resistance
economic recession resistance
Bitcoin has capped the supply at 21 million coins to fight its inflation. The mining of Bitcoin to prevent double-spending and the power of inputting to mine Bitcoin can prevent Bitcoin price drops.
Ethereum improves Bitcoin by increasing the flexibility of the blockchain, which can be programmable through a smart contract.
Ethereum is an unlimited supply.
So the disadvantages of Ethereum are:
inflation
create economic recession
Proof of Stake will make Ethereum worst.
Even though there is a burning mechanism to prevent inflation, Proof of Stake mimics the fiat system to inflate the economy even more than you can expect.
Whoever has more Ethers will consistently have more rewards than people with fewer Ethers.
The economy Ethereum created becomes more unfair.
Of course, PoS can make Ethereum works a bit faster in the short term to attract more developers to use the blockchain. However, Ethereum will face network congestion again.
Is Bitcoin preferable, then?
People want to expand the usage of the blockchain beyond what it was designed to be without improving its fundamentals.
It will be tough to do so due to sacrificing its security.
And scalability may not even satisfy the demand.
Of course, technology continues to improve.
If you enjoy reading my articles, buy me a coffee here.
Photo by Zoltan Tasi on Unsplash
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