“Some people make the mistake of thinking all TPS is equal. No. What we’re really after in crypto is trustless transactions per second. If you’re giving up decentralization for higher TPS you’re just a cloud provider.
You can get liquid value on a crypto network really easily. Just use existing sources of trusted value. Import fiat stablecoins like USDC. Use tokenized T-bills. Tokenize gold. Some people think these will replace cryptonative assets as a store of value. But all of themm require a trusted third-party—banks, vaults, and legal systems. All of them settle natively on the legal system, not on the chain. They’re all useful, but limited. They’re foreign.
Trustless value is only present in crypto native assets. The high value, high liquidity trustless assets like BTC and ETH are the kings here. These settle onchain—no legal system, no banks, no meatspace, no trusted third-party. Tether, or USDC, or tokenized T-bills might beat BTC and ETH in liquidity and marketcap for a time but they can never beat them on the dimension of trustlessness. This is why USDC can’t replace ETH.
Trustless value is important because its economic bandwidth for a trustless economy.”
“ZK Sync is designed to bring a VISA-scale throughput of thousands of transactions per second (TPS) to Ethereum while keeping the funds as secure as in the underlying L1 accounts and maintaining a high degree of censorship-resistance. Another important aspect of the protocol is its ultra-low latency: transactions in ZK Sync will provide instant economic finality.
Privacy is an absolute prerequisite for mass adoption.“
“Interesting deep dive from Vitalik on bringing increased efficiency and accuracy to democratic decision making via ‘quadratic’ voting, funding and attention markets.
“To the proponents of these voting schemes, this is not just another slight improvement to what exists. Rather, it’s an initial foray into a fundamentally new class of social technology which, has the potential to overturn how we make many public decisions, large and small. The ultimate effect of these schemes rolled out in their full form could be as deeply transformative as the industrial-era advent of mostly-free markets and constitutional democracy.”
Good interview with ‘Pomp’.
“President of Fidelity Digital Assets, the cryptocurrency trading arm of financial services giant Fidelity, announced that the firm may add support for Ether (ETH) in 2020.
We’ve done a lot of work on Ethereum. We intend to support it in the New Year. We’re very led by our clients.”
“More than 240 staking pools have gone online since Shelley went live, with about 120 staking pools during the first day of operation alone.
ADA holders have been waiting expectantly for the launch of Cardano’s Shelley incentivized testnet, in which participating users will be able to earn real ADA rewards, which they will reportedly receive by the end of the testnet period.
Users who stake 100,000 ADA, worth roughly $3,600 at writing time, could earn around $260 per year in staking rewards. Shelley mainnet will reportedly go live in early 2020.“
“The United States central bank will inject at least $425 billion of nonexistent money into the economy by the middle of next month.
In accordance with the most recent FOMC directive, the Desk will conduct repo operations to ensure that the supply of reserves remains ample.
Such moves involve conjuring vast new liquidity based on zero backing. Critics have long highlighted the policy as an example of the failure of central banks.”
“The court employs technologies such as AI and blockchain to render judgment. 3.1 million Chinese litigation activities from March to October of this year were settled through the blockchain and AI-powered smart internet courts.
In the current use of AI as an assistant to make rulings, efficiency is prioritized over accuracy. A human judge is ultimately responsible for the fair ruling. […] But we are heading toward a future when we can see an AI judge sitting at the podium.”
“The companies announced the release of Omni Core 0.7.0, the development of which was sponsored by Tether. The new version reportedly enhances network performance and fixes locking issues and Remote Procedure Calls. Omni is also the platform that hosted the first USDT tokens.
More interestingly, Omni Core 0.7.0 enables the building of an on-chain decentralized exchange. The new version of the Omni protocol allows users to trade any on-chain asset for Bitcoin.”