Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Mikko Ohtamaa Profile picture
@moo9000
Sep 14, 2021 • 10 tweets • 3 min read • Read on X
Scrolly
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
Image
Image
Image
Image
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…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Mikko Ohtamaa

Mikko Ohtamaa Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @moo9000

Mikko Ohtamaa Profile picture
Oct 6
1/ THE RAILS OF FINANCIAL SYSTEM

"Rails" is the software that moves money from one account to another. Rails matter because it is what blockchain seeks to improve, and is blockchains' ultimate source of value-add.

Why are current rails inefficient? Read the thread.

👇👇👇 Image
2/ We have a history of accounting; then, we have a history of financial systems: transfers between different people/companies.

Computers did not always exist for the latter. It was not until the 1950s and 1960s that IBM mainframes started to be used in financial systems.
3/ However, financial systems needed to scale even before computers. Because systems were paper—and human-based, a structure was created around this, and then this structure was put into formal regulation.

Thus, the regulation was created before computers. Image
Read 24 tweets
Mikko Ohtamaa Profile picture
Aug 25
1/ LONG THREAD ON @telegram AND DUROV'S ARREST IN FRANCE

- What does this mean
- Why is this happening
- What is going to happen next

👇👇👇 Image
@telegram 2/ I have been studying digital rights, privacy and freedom of information since I was in the university, many many years ago. Sadly, the news was expected.

This arrest is about bow an arbitrary government with your platform.
@telegram 3/ These rights have been eroding everywhere. More in authoritarian Russia, China, othres. Now this erosion has reached the liberal Europe.
Read 55 tweets
Mikko Ohtamaa Profile picture
Jun 26
DENMARK TO ABOUT TO BAN BITCOIN WALLETS

We have finally reached this point.

In the latest DeFi guidance of Danish FSA, the regulator goes too far: The guidance tries to capture everything in crypto regulation, including your Bitcoin wallet, using "interface" argument. DFSA says that interface providers must be regulated, including mobile app developers. You do not need to think about it too hard to realised that everything is an interface: your computer, your web browser, your Bitcoin wallet, Uniswap website and so on.

This is against the spirit and guidance MiCA. The "interfaces and frontends" must be regulated comes from the FAFT lobbying "how to squeeze crypto out of existence" - which in turn was directly from Gensler and co. While the intentions of DFSA might be good, this kind of overregulation does not help anyone. Trying to force everyone to be a regulated intermediate in a peer-to-peer world sounds cool, but you might as well be honest with your talking points and say "In reality we want to ban all cryptocurrencies, we are just sneaky about it" because this is the outcome.

What this means is that no one can offer Bitcoin wallets, DEX interfaces or anything that touches a token to Danish anymore because they would need to be regulated in Denmark.

dfsa.dk/Media/63854909…Image
2/ Banning peer-to-peer or "unhosted wallets" was earlier proposed by some far-left and far-right MEPs during the preparation of MiCA.

There are clear political forces in the EU that want to copy the Chinese model.

3/ This was also proposed earlier in Estonia:



The regulator had to make a hasty correction and backtrack changes after the public controversy:


crypto.news/estonian-plans…
Read 5 tweets
Mikko Ohtamaa Profile picture
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.
Read 56 tweets
Mikko Ohtamaa Profile picture
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?

Because they are selling a token (an altcoin) that is not BTC. To VCs. VCs have a crocodile brain: never tell them anything they do not know. They know L2 is hype. They have no idea what L2 is. Just sell hype.
Read 23 tweets
Mikko Ohtamaa Profile picture
Apr 4
1/ SOLANA: SAFER THAN ETHEREUM

Memecoin mania happened on Solana. To the same extent, it can never happen on any EVM chain.

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?
3/ Ethereum has issues due to its poor past design choices. Flaws were never revised and just hid with duct tape.

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

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(