A great thread on narrow waist model from the internet applied to crypto.
I present a variation that argues for Bitcoin as narrow waist for Web 3.
Thread👇
I present a variation that argues for Bitcoin as narrow waist for Web 3.
Thread👇
2/ Bitcoin is not merely a payment application of consensus protocols.
It’s the largest, most stable consensus protocol that is minimal by design.
IP is minimal by design; it does one job and does it well. Same for Bitcoin.
It’s the largest, most stable consensus protocol that is minimal by design.
IP is minimal by design; it does one job and does it well. Same for Bitcoin.
3/ Bitcoin has network effects.
If something can be done on top of Bitcoin, it will eventually get done on top of Bitcoin vs a smaller ecosystem.
If something can be done on top of Bitcoin, it will eventually get done on top of Bitcoin vs a smaller ecosystem.
4/ New protocols can anchor to security of Bitcoin and extend Bitcoin.
This is an under-explored design space but is beginning to change.
Clarity for example offers smart contracts that anchor to security of Bitcoin without modifying Bitcoin.
This is an under-explored design space but is beginning to change.
Clarity for example offers smart contracts that anchor to security of Bitcoin without modifying Bitcoin.
5/ A key property of internet’s narrow waist (IP protocol) is that its universal.
For a new protocol to become the “narrow waist” of crypto it’d need to become more universal than Bitcoin.
That’s theoretically possible but unlikely to happen.
For a new protocol to become the “narrow waist” of crypto it’d need to become more universal than Bitcoin.
That’s theoretically possible but unlikely to happen.
6/ The narrow waist cannot be complex but radically simple.
Bitcoin fits that property. Other more complex blockchains don’t.
Bitcoin fits that property. Other more complex blockchains don’t.
7/ The “good enough” protocol that reaches market domination wins.
There can be only one narrow waist.
It doesn’t need to be perfect, but it absolutely needs to be universal.
There can be only one narrow waist.
It doesn’t need to be perfect, but it absolutely needs to be universal.
8/ Web 3 emerging on top of Bitcoin is more than just a theory for me.
I believe in this outcome enough that the technical architecture of Stacks 2.0 and Clarity lang follows this model.
It’s exciting to see many different experiments and designs!
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I believe in this outcome enough that the technical architecture of Stacks 2.0 and Clarity lang follows this model.
It’s exciting to see many different experiments and designs!
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