Mikko Ohtamaa Profile picture
Sep 14, 2021 10 tweets 3 min read Read on X
KB-96542804 How to turn a blockchain off and on again Image
To be honest, this process is not different I have seen on some other chains and during the EOS launch party.

1) Verify state and software version

2) Choose what chain to follow Image
What makes it interesting is slashing etc. and what happens with penalties for validators.

While events like this have happened before for chains, and many testnets, I do think the scale of this event sets a precendence.
Here are some of the Solana fixes Image
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Althouggh understanding the changes would one need to be an expert in Solana node codebase, which is only a handful of people, this tells an interesting story how to tune the train while it is moving.
Probably some of these issues could be caught in vigorous performance testing and network simulation - or they were but not released yet.

But any case, it is a very interesting story of engineering and (maybe) cascading failures en.wikipedia.org/wiki/Cascading…

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More from @moo9000

Apr 30
1/ ANNOUNCING 1.0

The next step of #DeFi: From highly profitable trades to highly profitable automated trading strategies.

For a long read, read the announcement blog post from the link. Otherwise, stay for a thread.



👇👇👇TRADINGSTRATEGY.AI
tradingstrategy.ai/blog/the-best-…
2/ The grind of two years is over: We have been working with Trading Strategy for a while, and finally, the first openly accessible version is out.
3/ I believe Trading Strategy and similar products will be the next step in the DeFi evolution. They create genuine value. They are also the killer app of public blockchain that TradFi cannot replicate.

Finally, let's put all the infra we have built to good use.
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Apr 23
1/ ON WHY EVERY BITCOIN L2 ECOSYSTEM WILL BE A FAILURE

The daddy coin wants to do something but faces a moral dilemma. Why will it be difficult to build a functional Bitcoin L2 ecosystem?

A thread

👇👇👇
2/ ⚠️ First of all, there are no Bitcoin layer twos. Only **sidechains**. Any Bitcoin L2 marketed as L2 is a false statement.

For details please see my previous thread on this topic:

3/ Why do promoters keep calling them L2s, then?

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Apr 4
1/ SOLANA: SAFER THAN ETHEREUM

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Let's examine Solana's SPL tokens and why they offer a better user and developer experience than ERC-20 and how is this related.

A short thread.

👇👇👇
2/ What if I told you, tokens can be done better?
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Blockchains that came later fixed some of these issues. Because now there are many sizeable chain ecosystems, we can compare design choices and their benefits.
Read 29 tweets
Mar 4
1/ THE BITCOIN DEFI AND WHY DID NOT GET IT YET

Why all the current Bitcoin L2s are 💩

A short thread and on trust assumptions

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2/ Bitcoin has existed 15 years. But even for a Bitcoin maxi, it's quite a stretch to say Bitcoin is technology-wise doing much compared to alternative blockchains.
3/ The question is - why is this? Bitcoin had a good 7-8 years headstart to everyone else and is the largest and most-well know blockchain in the world.
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Feb 16
1/ SOMEONE JUST LOST $5M in an ERC-20 phishing transaction using so-called increaseAllowance() method.

ERC20 phishing scams netted $50M/m to the bad guys, mostly using permit(), increaseAllowance(), approve().

What are these methods and why do people keep losing money?

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2/ This is a story where common sense is not on a driver's seat, or not even on a navigator's seat.

It's a story where good-meaning fools caused the creation of wallet drainer cybercrime industry, causing hundreds of millions of losses.
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Oct 8, 2023
STARS ARENA HACK AND ITS IMPLICATION TO AVALANCHE

The new darling of Avalanche got hacked twice on two subsequent days, for $3.5M. Avalanche ecosystem and its investors are rushing to make the project whole.

Why did this happen, and what can we learn from this?

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BACKGROUND

Let's lay down facts and see what we have on the on-chain drama plate this week.

👇👇👇
StarsArea is so-called clone project , a very successful (revenue-wise) project which launched on the Base layer two chain about a month ago.Friend.Tech
Read 38 tweets

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