, 4 tweets, 1 min read Read on Twitter
A (very bad) history of key events for smart contracts on Ethereum and why they're exciting:
1. Create a digital token (ERC-20)
2. Create an atomic swap contract to trustlessly exchange these ERC-20 tokens
2.5 Realize that all the tokens we've created so far are worthless
3. Create a token that's actually worth something, and test out your new swapper contracts
4. Fuck up and have your application drained of 12 million Eth.
4.5 Fork Ethereum
5. Create better swappers and concatenate them into an order book to create a decentralized exchange.
6. Realize that all digital tokens are still pretty worthless.
7. Finally, create first valuable ERC-20 token by using smart contracts to lock up collateral
8. Use decentralized exchange to trade Eth with the collateral-backed stable token.
9 (in progress). Use the stable token to engage in trustless loans, derivatives, payments, and prediction markets.
10 (in future). Use the stable token to buy a 🍩
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