4 ms·

Opportunity for huge pay out. Unlike web2 startups, web3 startups provide token based ownership. It is more easily liquidated. Vesting periods are shorter for t

Opportunity for huge pay out. Unlike web2 startups, web3 startups provide token based ownership. It is more easily liquidated. Vesting periods are shorter for tokens. They have potentially no limit on the ceiling for token valuation while a similar company on public market will depend on fundamentals for its valuation. If you are on a web3 rocketship, the chances of you cashing out is much higher than otherwise similar web2 startup. Similarly, you also have more control over the direction of the company via DAO voting. You can protect your bags from getting diluted.

jzm2k 4y ago
I'd say there's also a ton of interesting work to be done, especially on L1: cryptography, distributed storage, peer-to-peer networks etc.
- danuker 4y ago
  Scaling L1 is a tough-to-impossible proposition. There's just no way to store everyone's transactions on everyone's computers.
  - capableweb 4y ago
    It's not about storing everyones transactions on everyones computers. It's about distributing it to enough computers in order for transactions to be safe and fast. Algorand seems to handle this on L1 just fine.
    - epinephrinios 4y ago
      A lot of alt-L1s claim to scale however they usually sacrifice decentralization which completely degenerates the network to an inefficient database. The challenge of decentralized scaling - https://ethereum.org/en/upgrades/vision/ https://ethereum.org/en/upgrades/vision/
      - capableweb 4y ago
        Are you specifically answering this about Algorand or are you thinking of other platforms? Algorand seems to be sufficiently decentralized, and I wouldn't describe it as "an inefficient database", but I'm happy to be proven wrong if you have evidence of otherwise.
  - x-complexity 4y ago
    > Scaling L1 is a tough-to-impossible proposition. There's just no way to store everyone's transactions on everyone's computers. This is the comment that made me sign up for an account: Thanks for doing that, danuker ;) In the most strictest sense: Yes, it is impossible to store all transactional data on just one computer, just like it would inevitably be impossible for one server/database to host an entire company's data. The conventional way of doing this would be to shard the database so that it could be spread out amongst multiple servers, simple enough. This can't be done directly in a trustless system, however: Additional checks, data structures, & procedures need to be created so that it can be allowed to do so. At a high level overview, data availability sampling [0][1] is required to make the attempt possible. When combined with Verkle trees [2][3] (Merkle trees + zk proofs) however, further improvements towards the number of possible shards could be made, increasing the storage capacity of the entire network even further. [0] https://hackmd.io/@vbuterin/sharding_proposal#:~:text=ELI5%3A%20data%20availability%20sampling https://hackmd.io/@vbuterin/sharding_proposal#:~:text=ELI5%3... [1] https://near.org/papers/nightshade/#state-validity-and-data-availability https://near.org/papers/nightshade/#state-validity-and-data-... [2] https://dankradfeist.de/ethereum/2021/06/18/pcs-multiproofs.html https://dankradfeist.de/ethereum/2021/06/18/pcs-multiproofs.... [3] https://vitalik.ca/general/2021/06/18/verkle.html https://vitalik.ca/general/2021/06/18/verkle.html
ausbah 4y ago
what is the value of the underlying token if not the usefulness of the associated project?
- NoGravitas 4y ago
  The ability to offload it onto retail suckers before the price collapses.

jzm2k 4y ago

I'd say there's also a ton of interesting work to be done, especially on L1: cryptography, distributed storage, peer-to-peer networks etc.

danuker 4y ago
Scaling L1 is a tough-to-impossible proposition. There's just no way to store everyone's transactions on everyone's computers.
- capableweb 4y ago
  It's not about storing everyones transactions on everyones computers. It's about distributing it to enough computers in order for transactions to be safe and fast. Algorand seems to handle this on L1 just fine.
  - epinephrinios 4y ago
    A lot of alt-L1s claim to scale however they usually sacrifice decentralization which completely degenerates the network to an inefficient database. The challenge of decentralized scaling - https://ethereum.org/en/upgrades/vision/ https://ethereum.org/en/upgrades/vision/
    - capableweb 4y ago
      Are you specifically answering this about Algorand or are you thinking of other platforms? Algorand seems to be sufficiently decentralized, and I wouldn't describe it as "an inefficient database", but I'm happy to be proven wrong if you have evidence of otherwise.
- x-complexity 4y ago
  > Scaling L1 is a tough-to-impossible proposition. There's just no way to store everyone's transactions on everyone's computers. This is the comment that made me sign up for an account: Thanks for doing that, danuker ;) In the most strictest sense: Yes, it is impossible to store all transactional data on just one computer, just like it would inevitably be impossible for one server/database to host an entire company's data. The conventional way of doing this would be to shard the database so that it could be spread out amongst multiple servers, simple enough. This can't be done directly in a trustless system, however: Additional checks, data structures, & procedures need to be created so that it can be allowed to do so. At a high level overview, data availability sampling [0][1] is required to make the attempt possible. When combined with Verkle trees [2][3] (Merkle trees + zk proofs) however, further improvements towards the number of possible shards could be made, increasing the storage capacity of the entire network even further. [0] https://hackmd.io/@vbuterin/sharding_proposal#:~:text=ELI5%3A%20data%20availability%20sampling https://hackmd.io/@vbuterin/sharding_proposal#:~:text=ELI5%3... [1] https://near.org/papers/nightshade/#state-validity-and-data-availability https://near.org/papers/nightshade/#state-validity-and-data-... [2] https://dankradfeist.de/ethereum/2021/06/18/pcs-multiproofs.html https://dankradfeist.de/ethereum/2021/06/18/pcs-multiproofs.... [3] https://vitalik.ca/general/2021/06/18/verkle.html https://vitalik.ca/general/2021/06/18/verkle.html

ausbah 4y ago

what is the value of the underlying token if not the usefulness of the associated project?

NoGravitas 4y ago
The ability to offload it onto retail suckers before the price collapses.