This blog is finished. All content on this blog and the previous blog (linked below) are CC0. Previous blog: https://polynya.medium.com/
Crypto's broken moral compass
I’ll begin by saying - obviously, there’s good in crypto. Indeed, I have written over 150 blog posts over the last 3 years about them (and plenty more with previous pseudonyms), and making the best of crypto and related tech. But none of that matters right now - things have swung too far away to the bad side. (Addendum: just for more clarity,FarcasterA decentralized social networkhttps://farcaster.xyzOver the years, crypto has declined into ever more predatory and evil territory. In 2010, the...
Crypto's broken moral compass
I’ll begin by saying - obviously, there’s good in crypto. Indeed, I have written over 150 blog posts over the last 3 years about them (and plenty more with previous pseudonyms), and making the best of crypto and related tech. But none of that matters right now - things have swung too far away to the bad side. (Addendum: just for more clarity,FarcasterA decentralized social networkhttps://farcaster.xyzOver the years, crypto has declined into ever more predatory and evil territory. In 2010, the...
Stateless infra - where most decentralized compute will be (not blockchains)
Yes, yes, you have heard me rant and rave about strict global consensus and how it’s the only unique property of blockchains. But I have not talked much in the way of alternatives, because I consciously avoid talking about infra. Infra obsession and consumed the crypto space, to the point everything else is neglected. However, it occurs to me that it’s only blockchain infra, no one really talks about stateless infra - because there are no stateless infra bags to shill. So, I’m going to feel l...
Stateless infra - where most decentralized compute will be (not blockchains)
Yes, yes, you have heard me rant and rave about strict global consensus and how it’s the only unique property of blockchains. But I have not talked much in the way of alternatives, because I consciously avoid talking about infra. Infra obsession and consumed the crypto space, to the point everything else is neglected. However, it occurs to me that it’s only blockchain infra, no one really talks about stateless infra - because there are no stateless infra bags to shill. So, I’m going to feel l...
Objectivity & subjectivity
Farcaster user @berghans asks, “I was wondering if you have any articles which go a bit more in depth into your usage of the terms subjectivity/objectivity? Cheers!”. Well, now, you do! As you might expect, how you define objectivity or subjectivity is… yes, you guessed is… subjective. But in the context of blockchains, we can be more precise. The key function of blockchains is achieving strict global consensus. However, this can only be done on a set of numbers and letters with some mathemat...
Objectivity & subjectivity
Farcaster user @berghans asks, “I was wondering if you have any articles which go a bit more in depth into your usage of the terms subjectivity/objectivity? Cheers!”. Well, now, you do! As you might expect, how you define objectivity or subjectivity is… yes, you guessed is… subjective. But in the context of blockchains, we can be more precise. The key function of blockchains is achieving strict global consensus. However, this can only be done on a set of numbers and letters with some mathemat...
Does Vitalik's "decentralized stack" need strict global consensus?
I put “decentralized stack” in quotes because many of Vitalik’s suggestions are in reality significantly more centralized than the “Traditional stack”. The most egregious example is “DAOs”, for example. Almost all DAOs today are dystopian plutocracies where a handful of whales and VCs control everything. Even the ones trying to break free are light years away from traditional organisation structures - particularly cooperatives - which are infinitely more decentralized and democratic than any ...
Does Vitalik's "decentralized stack" need strict global consensus?
I put “decentralized stack” in quotes because many of Vitalik’s suggestions are in reality significantly more centralized than the “Traditional stack”. The most egregious example is “DAOs”, for example. Almost all DAOs today are dystopian plutocracies where a handful of whales and VCs control everything. Even the ones trying to break free are light years away from traditional organisation structures - particularly cooperatives - which are infinitely more decentralized and democratic than any ...
Transaction quality trilemma - blockchain killers
In October 2021, I wrote a speculative post about the “transaction quality trilemma”. Since then, pretty much all chains have implemented a minimum fee in the $0.01-$0.50 range, but there are still some holdouts like Immutable X, Solana or Arbitrum Nova which gives us data. As you know, I don’t talk about scaling and infra anymore, and the stuff I wrote in 2021 is well understood and proven out, so I don’t need to write about them. I believe writing about applications, governance and diving d...
Transaction quality trilemma - blockchain killers
In October 2021, I wrote a speculative post about the “transaction quality trilemma”. Since then, pretty much all chains have implemented a minimum fee in the $0.01-$0.50 range, but there are still some holdouts like Immutable X, Solana or Arbitrum Nova which gives us data. As you know, I don’t talk about scaling and infra anymore, and the stuff I wrote in 2021 is well understood and proven out, so I don’t need to write about them. I believe writing about applications, governance and diving d...
