4 ms·

Multisigs, permissionless lending, decentralized data storage, automated market makers, social protocols, exchangeable token based authentication, digital conte

Multisigs, permissionless lending, decentralized data storage, automated market makers, social protocols, exchangeable token based authentication, digital content ownership, digital rights management, etc. All of these things already exist on the platform. Feel free to do some research if you have an open mind: Gnosis Safe: https://gnosis-safe.io/ https://gnosis-safe.io/ Uniswap: https://app.uniswap.org/ https://app.uniswap.org/ Lens: https://www.lens.xyz/ https://www.lens.xyz/ Lit: https://litprotocol.com/ https://litprotocol.com/ GMX: https://gmx.io/#/ https://gmx.io/#/ Filecoin: https://filecoin.io/ https://filecoin.io/ Arweave: https://www.arweave.org/ https://www.arweave.org/ Aave: https://aave.com/ https://aave.com/ USDC: https://www.circle.com/en/usdc https://www.circle.com/en/usdc There's over $100B in USD backed currency alone on the Ethereum blockchain. It's programmable, liquid, exchangeble 24/7, interacts with thousands of smart contracts, and increasingly will be used for day to day commerce in addition to financial investment applications. You are pseudo-anonymous on Ethereum. It's free to spin up new accounts and you can always fund them from a centralized exchange if you want Paypal-like privacy. Even then, there are solutions in the works for privacy: https://aztec.network/ https://aztec.network/ Cheers.

gerbler 4y ago
>Aztec is on the cutting edge of zero-knowledge SNARK development. Built on PLONK — the paradigm-defining universal zk-SNARK used by leading zero-knowledge projects like Mina, Dusk, Zcash, and zkSync. I have an open mind about this area and a technical background. I really struggle to understand what any of this means and what I can use it for. My experience with cryptocurrency (paying for things) has been challenging. As the whole ecosystem is very fragmented it's hard to know what to explore.
- chrisco255 4y ago
  Zk-Snark means Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. It's fairly cutting edge cryptography. It is very fragmented as the industry is rapidly evolving. If I may recommend, a good article on zk Snarks from Vitalik: https://vitalik.eth.limo/general/2021/01/26/snarks.html https://vitalik.eth.limo/general/2021/01/26/snarks.html ZK proofs allow you to prove you know the answer to something without revealing the answer itself. You may not need to know how these things work at a low level. If you're interested, feel free to dig into zk proofs and the cryptography behind them. The subject is quite deep and rapidly evolving. Ultimately, the important thing to know at a high level is that you can post a zk proof with just a few bytes of data, and that zk proofs, while computationally expensive to generate, are computationally cheap to verify. So they are being used as a blockchain scaling technology, since data storage is expensive on blockchains. If you're just interested in crypto as a user, I would generally recommend getting a Metamask wallet and interacting with some applications like Uniswap, Aave, or OpenSea.
constantcrying 4y ago
>Multisigs, permissionless lending, decentralized data storage, automated market makers, social protocols, exchangeable token based authentication, digital content ownership, digital rights management, etc. All of these things already exist on the platform. And all of these either shouldn't exist or can be done better without a blockchain. It is a solution without a problem.
- ajconway 4y ago
  Anonymous (or pseudonymous), independently verifiable operations with digital goods are clearly in demand. There may exist a better solution, but blockchain works now.
  - constantcrying 4y ago
    The demand for e.g. NFTs is rapidly dwindling. Most of the crypto currency space is driven purely by greed, fueled by gwt rich quick schemes. With the downturn of many economies peoples expendable income dwindled and so did their desire to buy a link to an image. What actual problem does a blockchain solve?
    - ajconway 4y ago
      For me personally, it's a low-fee payment system that can't be blocked and doesn't require any KYC. My friends and I use it primarily as a replacement for cash when we split restaurant bills abroad. There are people who use it to donate funds to organisations under repressive regimes anonymously. Blockchain is just a useful primitive to build stuff on top of it. As an engineer, I would like to embrace it, NFTs notwithstanding.
      - constantcrying 4y ago
        My bank account has no fees and I am legally entitled to having one. (Unlike crypto exchanges where you can get booted off for any reason) My bank account also has the awesome property of not broadcasting my entire payment history. Besides, I even said that money is perhaps (definitely not BTC or Eth though) the one area where a blockchain actually solves a problem which might exist. What else is there? NFTs are a truly stupid idea.
kkielhofner 4y ago
“Increasingly will be used…” When will the crypto community finally quit with “it’s still early”? Bitcoin is 13 years old. Ethereum is seven years old. Tens if not hundreds of billions of dollars have been invested in the ecosystem. Please look at block explorers across L1s, L2s, and side chains for daily transactions, unique addresses, etc. User adoption is abysmal and that says it all. I was really excited about cryptocurrencies and blockchain until I woke up one day and realized a decade has gone by and outside of gambling on crypto exchanges and people who make it their identity the entire thing could disappear tomorrow and literally 99% of the population wouldn’t know the difference.
- BlueTemplar 4y ago
  Well, the Web was 7 years old in 1996, the Internet itself probably older (multiple potential beginning years for the Internet as we know it), and at that point they were still pretty confidential... (Not to say that blockchains will have a huge success, but it's also not like progress hasn't been happening, haven't they managed to work out viable proof of stake recently?)
  - kkielhofner 4y ago
    In 1990 15% of US households even had a computer (the highest percentage in the world). A small number of those had a modem or were otherwise web capable. Modems alone were roughly $1,000 (inflation adjusted) in 1990. When I first got on the internet in 1994 the computer was $5000 (inflation adjusted). Mosaic wasn’t even released until 1993… The growth of the web also depended on laying many millions of miles of fiber that required everything from digging up entire countries to dispatching ships to cross the world’s oceans. Millions more phone lines, ISP modem banks in almost every phone central office in the country, etc. A truly monumental and expensive effort of humanity. In 2015 68% of the US population owned a smartphone. 85.5% of US households had the internet. Data is cheap, reliable, fast, and plentiful. Billions of users are interacting on social media platforms to enable communication and spread ideas across the globe more quickly than ever before. In 2015 these billions of people could catch a random Tweet, news story, etc and be counted as an Ethereum user in minutes for free or close to it. See the difference?

gerbler 4y ago

>Aztec is on the cutting edge of zero-knowledge SNARK development. Built on PLONK — the paradigm-defining universal zk-SNARK used by leading zero-knowledge projects like Mina, Dusk, Zcash, and zkSync. I have an open mind about this area and a technical background. I really struggle to understand what any of this means and what I can use it for. My experience with cryptocurrency (paying for things) has been challenging. As the whole ecosystem is very fragmented it's hard to know what to explore.

chrisco255 4y ago
Zk-Snark means Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. It's fairly cutting edge cryptography. It is very fragmented as the industry is rapidly evolving. If I may recommend, a good article on zk Snarks from Vitalik: https://vitalik.eth.limo/general/2021/01/26/snarks.html https://vitalik.eth.limo/general/2021/01/26/snarks.html ZK proofs allow you to prove you know the answer to something without revealing the answer itself. You may not need to know how these things work at a low level. If you're interested, feel free to dig into zk proofs and the cryptography behind them. The subject is quite deep and rapidly evolving. Ultimately, the important thing to know at a high level is that you can post a zk proof with just a few bytes of data, and that zk proofs, while computationally expensive to generate, are computationally cheap to verify. So they are being used as a blockchain scaling technology, since data storage is expensive on blockchains. If you're just interested in crypto as a user, I would generally recommend getting a Metamask wallet and interacting with some applications like Uniswap, Aave, or OpenSea.

constantcrying 4y ago

>Multisigs, permissionless lending, decentralized data storage, automated market makers, social protocols, exchangeable token based authentication, digital content ownership, digital rights management, etc. All of these things already exist on the platform. And all of these either shouldn't exist or can be done better without a blockchain. It is a solution without a problem.

ajconway 4y ago
Anonymous (or pseudonymous), independently verifiable operations with digital goods are clearly in demand. There may exist a better solution, but blockchain works now.
- constantcrying 4y ago
  The demand for e.g. NFTs is rapidly dwindling. Most of the crypto currency space is driven purely by greed, fueled by gwt rich quick schemes. With the downturn of many economies peoples expendable income dwindled and so did their desire to buy a link to an image. What actual problem does a blockchain solve?
  - ajconway 4y ago
    For me personally, it's a low-fee payment system that can't be blocked and doesn't require any KYC. My friends and I use it primarily as a replacement for cash when we split restaurant bills abroad. There are people who use it to donate funds to organisations under repressive regimes anonymously. Blockchain is just a useful primitive to build stuff on top of it. As an engineer, I would like to embrace it, NFTs notwithstanding.
    - constantcrying 4y ago
      My bank account has no fees and I am legally entitled to having one. (Unlike crypto exchanges where you can get booted off for any reason) My bank account also has the awesome property of not broadcasting my entire payment history. Besides, I even said that money is perhaps (definitely not BTC or Eth though) the one area where a blockchain actually solves a problem which might exist. What else is there? NFTs are a truly stupid idea.

kkielhofner 4y ago

“Increasingly will be used…” When will the crypto community finally quit with “it’s still early”? Bitcoin is 13 years old. Ethereum is seven years old. Tens if not hundreds of billions of dollars have been invested in the ecosystem. Please look at block explorers across L1s, L2s, and side chains for daily transactions, unique addresses, etc. User adoption is abysmal and that says it all. I was really excited about cryptocurrencies and blockchain until I woke up one day and realized a decade has gone by and outside of gambling on crypto exchanges and people who make it their identity the entire thing could disappear tomorrow and literally 99% of the population wouldn’t know the difference.

BlueTemplar 4y ago
Well, the Web was 7 years old in 1996, the Internet itself probably older (multiple potential beginning years for the Internet as we know it), and at that point they were still pretty confidential... (Not to say that blockchains will have a huge success, but it's also not like progress hasn't been happening, haven't they managed to work out viable proof of stake recently?)
- kkielhofner 4y ago
  In 1990 15% of US households even had a computer (the highest percentage in the world). A small number of those had a modem or were otherwise web capable. Modems alone were roughly $1,000 (inflation adjusted) in 1990. When I first got on the internet in 1994 the computer was $5000 (inflation adjusted). Mosaic wasn’t even released until 1993… The growth of the web also depended on laying many millions of miles of fiber that required everything from digging up entire countries to dispatching ships to cross the world’s oceans. Millions more phone lines, ISP modem banks in almost every phone central office in the country, etc. A truly monumental and expensive effort of humanity. In 2015 68% of the US population owned a smartphone. 85.5% of US households had the internet. Data is cheap, reliable, fast, and plentiful. Billions of users are interacting on social media platforms to enable communication and spread ideas across the globe more quickly than ever before. In 2015 these billions of people could catch a random Tweet, news story, etc and be counted as an Ethereum user in minutes for free or close to it. See the difference?