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Shiva Profile picture
@ShivanshuMadan
Sep 22, 2022 • 1 tweets • 1 min read • Read on X
Casual alpha drop by @samkazemian

After USD-pegged and inflation-pegged stablecoins, @fraxfinance is now coming up with an Eth-pegged Stablecoin.

One stop shop for everything on-chain finance. Is anyone building better than Frax? Image

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More from @ShivanshuMadan

Shiva Profile picture
Jan 14
Lifecycle of a Solana transaction 🧵

1/11 Image
TRANSACTION CREATION

Solana tx begins when a user connects to an app and intends to do a tx on that app.

For e.g. when you click 'Swap' on Jupiter

The app then verifies the user wallet balance and other metadata, and constructs the tx

Each tx includes:

a) Header: indicating which accounts must sign the tx
b) Instructions: the operations that must be performed during this tx
c) Hash of a Recent Block: to prevent stale txs
d) Access List: the accounts being read from or written to

The app then sends the tx to the user, who signs the tx with their private key (via a wallet), and sends it back to the app

2/11Image
SENDING TO RPC

The signed tx is sent to an RPC node (like @heliuslabs) that sanity checks the tx by verifying that the signatures are valid, tx format is correct, etc.

RPCs can be thought of as gateways to interact with and read data from the network.

They run the same software as full validators but with different settings, allowing them to accurately simulate txs and maintain an up-to-date view of the current state of the chain

3/11
Read 11 tweets
Shiva Profile picture
Sep 8, 2023
The LST debate around limiting the staking cap to <33% has taken over CT recently

But why is the 33% number significant?

Shouldn't it be okay as long as no one holds >50% of the stake?

Let's dive into the fascinating reasons: 🧵 Image
Consensus systems depend on an honest majority of nodes to ensure trust

In Ethereum, the magic formula is n >= 3f + 1

where, N = number of nodes
f = malicious nodes

Here's why 👇
Blockchains are p2p systems where different nodes exchange messages to come to a 'consensus' on the state of the chain

These nodes can be anonymous and located in completely separate parts of the world
Read 10 tweets
Shiva Profile picture
May 7, 2023
Unpacking the lifecycle of a rollup transaction: 🧵

Now (Centralized Sequencers)
vs.
Future (Modular everything) Image
First, Current centralized rollups:

The tx journey begins when you perform an action on a rollup dApp and click "Sign" on your wallet.

The wallet is your interface.

It's how you interact with the blockchain network. Image
Behind the scenes, the wallet interacts with the rollup RPC node to check the state of the rollup.

If blockchains are like a house, RPC nodes are like the doors to that house.

It's how anyone can read the blockchain ledger. Image
Read 23 tweets
Shiva Profile picture
Apr 5, 2023
The zkEVM wars are raging, but few truly understand them.

Want to join the fray?

Here are the resources that helped me go from 0-to-100 in less than a month: 🧵 Image
This thread goes from ELI5 levels to really advanced content.

As such, I've divided it into 3 sections-

• Starter Pack: I want everything ELI5
• Semi-Pro: I have basic knowledge, but want to get advanced
• Pro: I wanna hit level 9999
1/ Starter Pack

My first foray into the ZK world began with this beautiful substack from @cmsintern and @MarkMBissell

It covers everything from a basic explanation of zk-proof to zkEVMs.

internbreakdowns.substack.com/p/intern-break…
Read 19 tweets
Shiva Profile picture
Mar 28, 2023
You've heard of @zksync

But do you know what makes it truly UNIQUE?

Here are 3 features that could unlock mass adoption and bring MILLIONS of new users to crypto. 🧵
For an average Joe to start using crypto, 3 things need to be true.

dApps should be:
• Super easy to use (crypto hides in background)
• Cheap & Fast
• Interoperable - Users should be able to transfer their assets between any 2 dApps (on any chain) easily

zkSync does all 3:
1. Native Account Abstraction

Let's be honest - we can't expect to take crypto to the masses by asking them to remember 16 words for their wallets.

Creating an account should be as easy as signing up with Gmail.

Native AA enables this.
Read 18 tweets
Shiva Profile picture
Mar 19, 2023
Want to make it in crypto?

Find the next 100x narrative before everyone else.

One such narrative is "Rollups-as-a-Service".

Here's everything you need to know:
In this thread I'll cover:

• RaaS 101
• RaaS Ecosystem
• The Major Players

I'll trade you 20+ hrs of research for 5 mins of your time.

Let's dive in!
Rollups are the future of blockchains.

And the next evolution of rollups is - App-Specific Rollups (ASR).

ASRs allow customizability like never before.

The problem?

They are very hard to build:
Read 8 tweets

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