Discover and read the best of Twitter Threads about #Ethereum

Most recents (24)

The theory of #cryptocurrency, say @libra_ says that because there's #blockchain and no one needs to go through a bank to hold #crypto, there shall be #FinancialInclusion but in reality, inequality in #bitcoin is as bad as in fiat, if not worse...…
@Libra_ There are three primary sources of economic inequality in #bitcoin

1. #Bitcoin is obtained via substantial fiat investment in compute
2. #Bitcoin CX is not grandma friendly
3. Value of #bitcoin is determined by fiat exchanges rather than by underlying decentralised commerce
@Libra_ Then there are some secondary sources

1. #bitcoin can't address causes of poverty and financial exclusion that (a) Amartya Sen and Jean Dreze (b) Abhijit Bannerjee et al. have addressed in their Nobel winning research.
2. #Bitcoin does not change social or political incentives
Read 14 tweets
1/ As someone trading small positions in ETH, BTC derivatives, I've been fascinated by @SetProtocol + @tokensets.

Today, I finally went into beast mode to fully understand this #DeFi magic!

I am convinced most do not understand Set. So here's my dumb explanation in a thread.
2/ Despite all the brilliant peeps building on #Ethereum, most never do more than HODL ETH. While many dollar-cost-average into ETH, they fail to put their ETH to work.

The most obvious example of "money put to work" is using
@compoundfinance to earn interest, lending ETH, DAI
3/ Now, if you've never traded, all you need to know is less than 1% of FT traders are profitable. If you trust that common stat, you only need to know that many successful traders use bots.

Something like 70-80% of daily trade volume in crypto markets is estimated to be bots.
Read 21 tweets
I've decided to cancel my talk at @EFDevcon.

I was originally supposed to be a main stage presenter, opening for @ethereumJoseph.

Two weeks ago, this was a dream come true.

Today, meh.

A lot can change in two weeks.
The recent controversy resulted in my talk being demoted to a side stage.

I accept the consequences of my actions.

I appreciate the opportunity to still speak at all!

But I'm not just not interested anymore.
I've been LARPing an #Ethereum hero for a while now.

It's been great fun, especially with the other @MolochDAO members. 👹

But I don't have enough ETH to justify it nor is anyone paying me to do it, so it's essentially volunteer work.

I'm burnt tf out. It's not fun anymore.
Read 9 tweets
1/ I can't believe it's been this 3 years already. the @uport_me team won a prize after launching the first version of our Self Sovereign Identity wallet at DevCon2 on #ethereum complete with social recovery using proxy contracts, wallet connect like QR codes and gas funding.
2/ Our focus is still on Self Sovereign Identity for #ethereum, but we've learnt so much since our first experiment back then.

Here is a diagram of our original architecture...
3/ Most importantly the key to safely build #identity on a blockchain is to actually use as the #blockchain as little as possible.

Ideally a good identity solution for blockchain applications provides an off-chain method of linking together on-chain interactions.
Read 17 tweets
Fees can appear a burden, but they also signal people willing to pay real value to use a network.

This metric tells me network users find equal utility in #Ethereum & #Bitcoin.
As a comp, check out transaction fees for “next gen” smart contract platforms as they launch.

They will be / already are very low txn fee networks given the abundance of transaction supply with little demand.

Useful ones will grow txn fees or tolerated inflation w/ time.
Both in dollar terms, not % terms.

$’s can go up, while %’s go down 🙂
Read 3 tweets
[THREAD] This past weekend I was lucky enough to have been a judge at @ETHBoston. As an investor in the space, here are some of my top takeaways, trends to watch, and favorite projects from the hackathon.
2/First, some context. Like other @ETHGlobal events, ETHBoston was well-attended, with over 400 hackers in attendance. Participants had a wide range of #Ethereum experience and traveled from all over the world to attend the event (stats below).
3/At the end of the weekend, 55 projects were submitted to judges. Of those, 6 projects were selected as finalists and they presented to the entire hackathon audience.

You can view all of the hackathon projects here on @devpost:

Read 13 tweets
The question for the #ethereum community is, how do we do #defi without creating another ICO boom and bust like #YOLO situation... IMO the main cause of current eth/btc price being out of whack with the immense technical progress in and around eth over the last two years.
#bitcoin is overpriced because there's been very little technological progress. But finance isn't just about technology. It's also about trust. #bitcoin is overpriced vs better tech including #ethereum BECAUSE nothing changes, same as the UK and US high street banks.
Finance isn't the best space to move fast and break things. Alright it isn't health care or space flights and #innovation is never risk free but its important for the community to call out things that don't make sense…?
Read 31 tweets
#Ethereum's on-chain stablecoin transaction volumes surpassed @venmo's total payment volume in Q2 2019:… (h/t @evan_van_ness)
@venmo @evan_van_ness #Ethereum was also < 1/100th as extractive as @venmo:

"customers spent just $827,000, in network fees, to transfer more than $37 billion. Over this same period, fees & fees on associated services paid to Venmo are expected to reach $150M." -@TradeBlock…
@venmo @evan_van_ness @TradeBlock We'll see this thesis play out again and again for successful #cryptonetworks.

They'll scale to be larger than most company-provisioned-services, at a faster rate, and should offer on-par services for order(s) of magnitude less.
Read 3 tweets
Announcing new speakers for #MassiveAdoption (Memphis,TN on November 7-8, 2000 attendees) and re-announcing speakers previously confirmed in an effort to build a single comprehensive thread. We're currently at about 50% of our roster.

#MassiveAdoption is the first event focused on onboarding curious professionals into the world of blockchains & digital assets, including Bitcoin.

We do this through TEDx-style talks, workshops & real interactive crypto experiences with 🔥 partners.

And whiskey, music & BBQ.
Just today, @YahooFinance wrote that the average Bitcoin holder in America is older, a parent & more conservative (in many regards) than many of us had imagined.

They can also #stacksats at @Safeway (thanks @trylolli 🍭)

This is who #MassiveAdoption speaks to.
Read 50 tweets
New metric from the @placeholdervc team to assess relative valuations of smart contract platforms:

Network Value to Token Value (#NVTVratio).
@placeholdervc 2/ The #NVTVratio divides the network value of a smart contract platform by the total value of all assets launched on that platform.

For example, #Ethereum currently trades at ~2x the value of all the assets on its platform, whereas #EOS trades at 234x.
@placeholdervc 3/ A hope here is the #NVTVratio can help us get around faked transaction volumes and other forms of manipulation that have thus far made the #NVTratio less useful for smart contract platforms.
Read 8 tweets
0/ 📢 @Quant_Network [ $QNT ] enables interoperability for @Binance's #BinanceChain [ $BNB ].

Details 👇
1/ 🔌 Quant Network announces they "have been working with" @Binance and will be connecting Binance Chain to their #Overledger operating system, solving interoperability.
2/ ⛓️ #Overledger has already connected to a number of enterprise #blockchains such as @inside_R3's Corda, @Hyperledger, and @Ripple, as well as public blockchains like #Bitcoin, @StellarOrg, and #Ethereum.
Read 8 tweets
“We’re sitting in the @NYSE Board Room - that’s a first for #bitcoin.” -@dan_pantera at @Bakkt’s first digital asset summit.
But #bitcoin wasn’t the only asset of conversation @Bakkt’s event today.

When asked about other #cryptoassets, Commissioner Stump referenced the @CFTC’s recent request for information on #Ethereum, saying, “Bitcoin’s not the end of the road.”
All in all, the @Bakkt event signals great things for #bitcoin and #crypto at large, even if I did miss some of the funk of OG days.
Read 3 tweets
Current state of decentralized oracles in the #ethereum space:

Augur: incentive compatible, decentralized, live, slow

Uniswap: incentive compatible O(MA length), decentralized, not live, medium

Chainlink: not incentive compatible, centralized, live, fast
Witnet: trust minimized / incentive compatible pending a few unsolved (very hard/potentially impossible) problems, decentralized, not live, fast

Oracles are such a hard problem most people don’t know Chainlink is actually just a 1/1 or m/n multisig
But their marketing and what it actually does on a software level are complete opposites. With SGX they could start to become more trust minimized provided you trust intel (still centralized, but that’s fine for these use cases imo). But here’s the latest…
Read 5 tweets
#bitcoin could ossify today & still win the SoV use case based on its existing characteristics (scarcity, censorship resistance) & network effect / ubiquity.

Many “dev-centric” minds miss this b/c they only view #blockchain from a developer mindset & not a financial/social one.
“Do not try and do everything. Do one thing and do it well.” - Steve Jobs

#bitcoin is the 1st uninflatable, uncensorable, unconfiscatable asset the worlds ever known. It’s also the best tool to ever exist for each of those characteristics. It’s VERY GOOD as digital gold.
Hash rate at an ATH. Price is returning to ATH w/ a market capitalization of >$200B (6x+ its closest competitor ETH $31B).
Read 9 tweets
Some platforms like @Cordablockchain that have nothing to do with #Blockchain are sold as blockchain for enterprise. It's not only a misleading message, it also misses the point entirely about how technology works.
There's no iPhone for enterprise or personal computer for enterprise. Heck it's called a personal computer, not enterprise computer... the only enterprise computers are mainframes and AS400 systems.
In the early days people used blackberries. Blackberries were smartphones for enterprise. Did a great job of email in a sandboxed walled garden environment and a bad job of consumer apps. It worked for a while
Read 21 tweets
Shower thought: What if #Ethereum joined @Libra_?

ETH secures $1B+ in "user balances" and so if it can muster $10M to pay the fee, ETH itself could join as a validator.
But *who* is ETH? Which org should join? @ethereum foundation? @ConsenSys?

What if we created a new org, possibly using @AragonProject, as a hybrid legal org + DAO to join?
The new org would be responsible for:

1. Conduct an STO to raise $10M to buy Libra Investment Tokens (LIT)
2. Run a Libra validator node and distribute fees to token holders.
3. Pay for additional Libra-ETH development (e.g. bridges)
4. Participate in Libra governance.
Read 10 tweets
A first technical impression of Libra, aka "facebook coin", compared against Eth 1 and Eth 2.

#ethereum #libra #eth2
0. data keying:
- 32 byte keys seem to be the future. Not only Ethereum 2 is using them in SSZ, Libra will use them for account keys
- static generalized indices, can't find much for "light" clients, you're either a powerful validator, or a user (to be expected)
1. Hashing/merkleization:
- SHA3-256. Not like eth1 (older SHA3), or ETH2 (SHA2-256, like bitcoin)
- No derived merkle structures ("hash tree root" in Eth 2) just bare binary trees.
- Sparse binary trees, with leafs moved upwards. Efficient, but not static enough (important too)
Read 16 tweets
Here is news of a milestone in the project to integrate @LivepeerOrg with @AragonProject.

An Aragon DAO on #Ethereum mainnet delegated Livepeer Tokens to a Transcoder in Livepeer's network.

This will provide the DAO with a share of income to the network.

How it worked:

- A vote was proposed, for an @AragonProject DAO to "Approve and Bond" $LPT to a @LivepeerOrg Transcoder

- The DAO voted "Yes"

- $LPT were automatically delegated to the Transcoder

Go to to view the DAO in action.

The Livepeer App is also capable of governing the operations of a Transcoder in @LivepeerOrg's network, allowing the configuration of the Reward Cut, Fee Share, Price Per Segment and ServiceURI.

This feature will be activated on this DAO at a later date.

Read 9 tweets
New Sony and Microsoft partnership to explore new innovations could result in a shared #Ethereum-based licensing system for video games.
And evidence suggests that’s just the beginning...…
To sum up the partnership deal between Sony and Microsoft, both parties are interested in exploring research together to support their respective game and content-streaming services. Sony and Microsoft will also explore collaboration in the areas of semiconductors and AI.
On its face, this deal makes complete sense because almost every gaming platform is focussing on the future of streaming games from the cloud. But we did a little digging and Sony seems to have more in mind for Azure… But first we have to go back
Read 50 tweets
#Holochain thread: Let's learn about @H_O_L_O_ and @holochain

In the world of blockchains where everyone is fighting for a better consensus algorithm and higher TPS, Holochain brings about a new paradigm, there is no global consensus required in the Holochain architecture.
Holochain uses an Agent Centric approach rather than a Data Centric approach. Here’s why you should really pay attention. Part of a much bigger project: Metacurrency Project - ( (started in 2004) and Ceptr - ( (started in 2006)
Holochain was probably the only ICO which conducted benchmarking tests to decide what their token should be fairly priced at.

Read 15 tweets
Companies building on @AugurProject are making the same mistakes they made when building on 0x. Short term greed as opposed to long. The only one that isn’t that I’ve seen is @guesserio. And I’m not an investor in any of them atm, so this is my own viewpoint #Ethereum #Augur
Context: Veil forked Augur and released an AugurLite today with all of the main benefits of Augur removed (it enables stuff Gnosis could do 3 years ago, side note idk why they didn’t just use Gnosis). So I’m also speaking as the largest contributor/core dev to AugurLite ;)
Augur has a few value propositions: no limit, low fees, global liquidity, and being trustless is an important component of enabling that. Companies like Veil compromise on all 3. Choosing from multiple centralized oracles is like saying choosing from multiple banks is == bitcoin
Read 8 tweets
1/ Sharing slides from this morning's #Fluidity2019 talk, which for me represented the start of Blockchain Week(s) in NYC.
2/ The market is our best tool for quantifying and distilling expectation about #crypto's future.
3/ Given expectation is inherently about the *future,* it is bound to be driven by human emotion about the unknown.

(overly optimistic in bull markets, overly pessimistic in bear markets)
Read 20 tweets
0/🔹 Here's a 19-part thread covering the day's events from the crypto and blockchain ecosystem. Hope you find a thing or two worth exploring further!
1/ ✌️ @AugurProject [ $REP ] published a detailed post covering many features that will be released in v2.0, "a comprehensive suite of improvements to Augur and the first major upgrade to the platform."
2/ ⚖️ "A bid to restructure Vancouver-based QuadrigaCX has failed and the virtual company has officially entered bankruptcy proceedings," according to CBC, a local news outlet.…
Read 20 tweets
@lrettig @iam_preethi Ethereum governance is very complex, I would like to contribute to the debate with the exploration of several lines of thought. Before talking about governance I propose that we investiguate the concept of Ethereum community.
@lrettig @iam_preethi Contrary to nick szabo I believe that the word “community” is not an abuse and we can learn a lot about the different group of peoples who seems to share common interest.
@lrettig @iam_preethi 1 based on their own perspective so many people draw conclusions on an outcome who might not being fully understood without more complementary insight. Before talking about governance one must understand the complexity of the #ethereum community and his ecosystem first.
Read 15 tweets

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