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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What is the definition of the blockchain anyway? I bet when you ask each person, they will give you their own definition of the blockchain!
However, if you want to tell your friends or family, or even stranger about what is the blockchain is few words: it is a Forever Database that people can verify anywhere at any time.
When you need to verify something, you need to spend time and slowly to ensure something is accurate. You cannot rush into finishing or it will sacrifice the quality of the work.
This is how the human brain works. However, the computer makes verification simple, fast, and error-free.
That is the different approach between Proof of Work (PoW) and Proof of Stake (PoS).
PoW relies on human judgment and purposely slows down the progress of the growth to ensure such growth is as accurate as possible.
PoS relies on the machine to eliminate human involvement as much as possible and speed up its growth as much as possible.
There are different approaches to future growth, and there is no one best approach.
https://twitter.com/DanniiAshmore/status/1570401053451096066
It is simply your reference on your view of the future.
If you are a more careful person, you will choose PoW, which ensures each step is correct. Or, if you are a more risky-taking person, you will select PoS that focus on opportunity cost.
https://twitter.com/shaunjaes/status/1569896185930055680
Security is the core of the blockchain. If the blockchain is a forever database, you hope the database will never be hacked at any point, mainly if you run finance on top of the blockchain.
From PoW standpoint, the consensus is more resilient than PoS because 51% attack is less likely in PoW and more likely in PoS in the short term.
https://twitter.com/cjremus/status/1570352402116509698
After the Merge, Ethereum is facing a possible 51% attack because fewer participants dominated the reorg of the Ethereum mining power.
But we are really talking about 33% attack in the Ethereum PoS since Ethereum was implemented at 33% benchmark gate to prevent further domination, which costs attackers to lose their stakes and delay in finalizing the transactions.
You then will wonder if Ethereum will become more centralized, which is what many people question and debate.
https://twitter.com/wiw3_community/status/1572207025060483073
You can further read the different types of attacks in https://mirror.xyz/jmcook.eth/YqHargbVWVNRQqQpVpzrqEQ8IqwNUJDIpwRP7SS5FXs
Slow progress toward growth is a preferable way into the uncertainty of the future. Taking more risks may seem a solution in the short term, but the long-term environment is unpredictable.
Photo by Nick Abrams on Unsplash
What is the definition of the blockchain anyway? I bet when you ask each person, they will give you their own definition of the blockchain!
However, if you want to tell your friends or family, or even stranger about what is the blockchain is few words: it is a Forever Database that people can verify anywhere at any time.
When you need to verify something, you need to spend time and slowly to ensure something is accurate. You cannot rush into finishing or it will sacrifice the quality of the work.
This is how the human brain works. However, the computer makes verification simple, fast, and error-free.
That is the different approach between Proof of Work (PoW) and Proof of Stake (PoS).
PoW relies on human judgment and purposely slows down the progress of the growth to ensure such growth is as accurate as possible.
PoS relies on the machine to eliminate human involvement as much as possible and speed up its growth as much as possible.
There are different approaches to future growth, and there is no one best approach.
https://twitter.com/DanniiAshmore/status/1570401053451096066
It is simply your reference on your view of the future.
If you are a more careful person, you will choose PoW, which ensures each step is correct. Or, if you are a more risky-taking person, you will select PoS that focus on opportunity cost.
https://twitter.com/shaunjaes/status/1569896185930055680
Security is the core of the blockchain. If the blockchain is a forever database, you hope the database will never be hacked at any point, mainly if you run finance on top of the blockchain.
From PoW standpoint, the consensus is more resilient than PoS because 51% attack is less likely in PoW and more likely in PoS in the short term.
https://twitter.com/cjremus/status/1570352402116509698
After the Merge, Ethereum is facing a possible 51% attack because fewer participants dominated the reorg of the Ethereum mining power.
But we are really talking about 33% attack in the Ethereum PoS since Ethereum was implemented at 33% benchmark gate to prevent further domination, which costs attackers to lose their stakes and delay in finalizing the transactions.
You then will wonder if Ethereum will become more centralized, which is what many people question and debate.
https://twitter.com/wiw3_community/status/1572207025060483073
You can further read the different types of attacks in https://mirror.xyz/jmcook.eth/YqHargbVWVNRQqQpVpzrqEQ8IqwNUJDIpwRP7SS5FXs
Slow progress toward growth is a preferable way into the uncertainty of the future. Taking more risks may seem a solution in the short term, but the long-term environment is unpredictable.
Photo by Nick Abrams on Unsplash
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