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It’s all relative. The tech is still in its infancy, perhaps like AI was a few decades ago. The current landscape of PoS, applied ZKP, rollup sequencers, stable

It’s all relative. The tech is still in its infancy, perhaps like AI was a few decades ago. The current landscape of PoS, applied ZKP, rollup sequencers, stablecoins, and smart contracts are all significant improvements on what existed 10 years ago, and much more practical.

JumpCrisscross 3y ago
> current landscape of PoS, applied ZKP, rollup sequencers, stablecoins, and smart contracts are all significant improvements on what existed 10 years ago, and much more practical. To what practical end? I think exploration should continue. But in the academic, not product, space. Crypto has the potential to be toxic. Licensing regimes for potentially-toxic products is highly precedented.
- mattdesl 3y ago
  To what end, I’ll just repeat myself: > Having open source protocols that compete with PayPal and VISA and aren’t funded and controlled by central states can be a positive thing. I personally like that there is another choice than just yet-another-centralized-and-cumbersome system.
  - topranks 3y ago
    If you think the centralized options are cumbersome…
CydeWeys 3y ago
I don't think it's true that the tech is in its infancy. I'd say it's pretty mature by now, reaching a mostly steady state.
- Sargos 3y ago
  Not to be rude but you obviously don't follow any of the technology so why even comment on it? Huge advancements in zero knowledge cryptography have been made in the last year. Ethereum activated Proof of Stake in September. New DeFi primitives are released regularly. It's actually hard to keep up with all of the research and releases which is why your comment is so perplexing unless it was made in bad faith.
  - CydeWeys 3y ago
    None of this stuff actually matters though. The main use case for crypto is speculation, store of value, and money-sending, and that's been working from the very beginning.
  - Yizahi 3y ago
    Ethereum move to the Point of Sale ahem, to the PoS was simply late. It's not a new invention an is years old by now. DerangedFinance is only interesting for speculators and scammers. Without CEX on-ramps there is nothing interesting or useful in DeFi for a common people. It is only interesting to observe from the outside, how yet another bridge has been "hacked" due to the poor code, or how another person had been destroyed with slippage due to shitty UI of all token software, etc. What people mean here is that general innovation is dead in token industry, finding a new niches, new industries. All attempts have dies in 2018 or so. Decentralized storage, decentralized compute (with blockchain), decentralized LoRaWan, decentralized identities, decentralized off-chain ownership and so on and so forth. All failed spectacularly. The only innovation remaining is simply more advanced instruments for scammers and illegal finance operations. That is innovation, but not particularly interesting for mass market.

JumpCrisscross 3y ago

> current landscape of PoS, applied ZKP, rollup sequencers, stablecoins, and smart contracts are all significant improvements on what existed 10 years ago, and much more practical. To what practical end? I think exploration should continue. But in the academic, not product, space. Crypto has the potential to be toxic. Licensing regimes for potentially-toxic products is highly precedented.

mattdesl 3y ago
To what end, I’ll just repeat myself: > Having open source protocols that compete with PayPal and VISA and aren’t funded and controlled by central states can be a positive thing. I personally like that there is another choice than just yet-another-centralized-and-cumbersome system.
- topranks 3y ago
  If you think the centralized options are cumbersome…

CydeWeys 3y ago

I don't think it's true that the tech is in its infancy. I'd say it's pretty mature by now, reaching a mostly steady state.

Sargos 3y ago
Not to be rude but you obviously don't follow any of the technology so why even comment on it? Huge advancements in zero knowledge cryptography have been made in the last year. Ethereum activated Proof of Stake in September. New DeFi primitives are released regularly. It's actually hard to keep up with all of the research and releases which is why your comment is so perplexing unless it was made in bad faith.
- CydeWeys 3y ago
  None of this stuff actually matters though. The main use case for crypto is speculation, store of value, and money-sending, and that's been working from the very beginning.
- Yizahi 3y ago
  Ethereum move to the Point of Sale ahem, to the PoS was simply late. It's not a new invention an is years old by now. DerangedFinance is only interesting for speculators and scammers. Without CEX on-ramps there is nothing interesting or useful in DeFi for a common people. It is only interesting to observe from the outside, how yet another bridge has been "hacked" due to the poor code, or how another person had been destroyed with slippage due to shitty UI of all token software, etc. What people mean here is that general innovation is dead in token industry, finding a new niches, new industries. All attempts have dies in 2018 or so. Decentralized storage, decentralized compute (with blockchain), decentralized LoRaWan, decentralized identities, decentralized off-chain ownership and so on and so forth. All failed spectacularly. The only innovation remaining is simply more advanced instruments for scammers and illegal finance operations. That is innovation, but not particularly interesting for mass market.