xuanling11

Photo by Anders Jildén on UnsplashBridge from layer 2 is one of the scalability solutions. Since layer 1 has set a foundation for blockchain to operate, upgrading layer 1 may cause unnecessary disruption on existing operations. The bridge is a perfect choice for blockchain with massive traffic while seeking for expansion of more users to join in the different types of blockchain. TL;DR Layer 2 bridge is a technique to help layer 1 blockchain expand its user pool in the different types of bloc...

Photo by Tezos on UnsplashInsurance is a contract with conditions to prevent further losses when the projected risks become real. Insurance is purposely designed to confuse users so that they can purchase the insurance to believe they are financially hedged and in reality, they are not. It is a magic spell to try to presumably resolve issues but it will make it worse. We need real insurances to protect people. TL;DR Traditional insurance is a word game to confuse customers to buy products and...

Photo by Robert V. Ruggiero on UnsplashI start this series just to express my opinions about what crypto may evolve in 2022. Maybe it will not but my hope is they can do better. With more and more users joining the crypto universe, scalability is a challenge for Layer 1 platforms such as Ethereum and many others. Scalability was a problem that had been identified in 2015. However, blockchain technology was not able to resolve and the issue has been persistent on many platforms. TL;DR There is...

Photo by Jason Leung on UnsplashThe airdrop was a way to help crypto to expand its user base. See the past tense I used! Nowadays, an airdrop is a way to scam new users. It becomes a way to siphon users’ tokens on the wallet away from unknown wallet addresses. TL;DR Airdrop is no longer a way to receive cryptos. Instead, scammers use this to embed a smart contract and execute the transfer function to take your cryptos away. Also, most airdrop tokens cannot be sold. Here is a 1 min summary of ...

Photo by Fakurian Design on UnsplashThere are many debates about how much NFTs are actually worth it. Perhaps the question is not about NFT itself but what runs behind the NFT. NFTs-Based Communities are ideas that NFTs create for membership and identification of a group or organization to believe something together. It becomes a new way to identify yourself to belong in digital communities. TL;DR NFTs-Base Communities are using NFTs as their identification tool and gather members together to...

Photo by Julien Riedel on UnsplashPeople had cheered about institutional adoption of crypto in 2021. Rethink again. Does institutional adoption really help crypto communities or are they making another stock market that will be rigged or turning Defi into another bank? TL;DR Institutional adoption of crypto means regulations and market manipulation. Pouring unlimited resources into the market to influence the direction is what Wall Street has been practiced of their power to influence the sto...

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. ...

Photo by Keith Hardy on UnsplashPeople wonder what regulations? You are right. The government kept urgently thinking about regulations and they just cannot come up with something on their minds because crypto is a very new technology that they have never been able to capture and use the existing regulations to help regulations progress. So what regulations then? TL;DR It will likely take years for regulators to come up with regulations. However, recently crypto rushes have made them rethink t...

Photo by Ishtiaque Hossain on UnsplashRetail interest in Bitcoin has dropped to the lowest of the year since. Institutional adoption has become mainstream with large money pouring into the crypto market and buying up Bitcoin. It seems the Bitcoin standard has been confirmed. However, Bitcoin may lose its crypto status from now on. TL;DR Retail investors lose interest in Bitcoin while institutional investors pour money into Bitcoin. The future of the Bitcoin market is just another stock market...

Photo by Patrick Tomasso on UnsplashZero-Knowledge Proofs is a Defi way to answer regulatory compliance in a decentralized way. Since 2021 crazy runs of Defi and the hype to replace the current financial system, regulators are urgently working to put up bank regulations to pressure Defi to comply. Unfortunately, the result is not looking great. Some Defi products will surrender to comply; others will examine a new path to answer regulations differently - Zero-Knowledge Proofs you mother f**k....

Photo by Shubham Dhage on UnsplashWeb3 or Web 3.0 or web3 sounds like a scam. What is really a Web3? No one actually knows and it is a myth from everyone who claims to understand. Similar to Bitcoin in 2009, many people think it was a scam. How can Bitcoin be like digital currency and had value to trade like a stock but no central organization manages it?! Let’s explore what Web3 really is a closed look. TL;DR Web3 is everything yet it is nothing. It has not yet been defined which is an oppor...

Photo by Michael Geiger on UnsplashHackers are being more and more sophisticated. Particularly in the crypto field, hackers can imbed their software and steal information. There is a new malware that can steal from your wallet without you even knowing your wallet has been hacked. TL;DRDisabled auto-downloading in Telegram settings to avoid the unaware download of malware and got hacked of your crypto wallet. Here is a 1 min summary of the article if you want to skip the reading. EchelonThis M...