The not so secret…secret…about #decentralization in #crypto
And why the vast majority of those in #Web3 prefer centralized entities running the show rather than a true decentralized ethos like
$DOT and $BTC
Yes, this is a thread about @Polkadot…🧵
And why the vast majority of those in #Web3 prefer centralized entities running the show rather than a true decentralized ethos like
$DOT and $BTC
Yes, this is a thread about @Polkadot…🧵
1/ The King 👑 #Bitcoin
Satoshi invented the solution to the _real_ money problem
#Decentralized verification of a shared public ledger; free from the control of centralized actors in our world like banks & sovereign govs
A never ending reflection of the world around it
Satoshi invented the solution to the _real_ money problem
#Decentralized verification of a shared public ledger; free from the control of centralized actors in our world like banks & sovereign govs
A never ending reflection of the world around it
https://twitter.com/cburniske/status/1596643078961389568
2/
Again
The key thesis behind Bitcoin is decentralization of power to the free market with blockchain and game theory as the vehicles to accomplish this
@DylanLeClair_ is always spot on here 👇
Again
The key thesis behind Bitcoin is decentralization of power to the free market with blockchain and game theory as the vehicles to accomplish this
@DylanLeClair_ is always spot on here 👇
https://twitter.com/DylanLeClair_/status/1595465499516829696
3/
The purity of plain old orange coin is hard to deny. Some say it doesn’t do enough, but those miss the meaning of Bitcoin as referred to above
So where does #crypto come in to play?
Tokenomics in itself is a play on aligning incentives. But many leverage this illegally
The purity of plain old orange coin is hard to deny. Some say it doesn’t do enough, but those miss the meaning of Bitcoin as referred to above
So where does #crypto come in to play?
Tokenomics in itself is a play on aligning incentives. But many leverage this illegally
4/
Regardless how you feel about @0xPolygon, @avalancheavax or @solana
These projects have venture arms and core teams that shill the hell out of their networks using their tokens as a central part to driving adoption
Through distribution of tokens or liquidation for funds
Regardless how you feel about @0xPolygon, @avalancheavax or @solana
These projects have venture arms and core teams that shill the hell out of their networks using their tokens as a central part to driving adoption
Through distribution of tokens or liquidation for funds
5/ The Secret
This is simply _illegal_ when driven by a central body of actors without the token being registered as a security
If you simply replaced token with stock shares in the last tweet, it reads like every other Web2 company
Is this what we are in crypto for?
This is simply _illegal_ when driven by a central body of actors without the token being registered as a security
If you simply replaced token with stock shares in the last tweet, it reads like every other Web2 company
Is this what we are in crypto for?
6/ Less Trust More Truth
This phrase captures the idea behind the real vision behind #Web3 that @gavofyork brought forth years ago in an interview with @Snowden
If given a chance, humans will horde power and abuse trust
🔗:
This phrase captures the idea behind the real vision behind #Web3 that @gavofyork brought forth years ago in an interview with @Snowden
If given a chance, humans will horde power and abuse trust
🔗:
7/
With blockchain, we have a chance to engineer our worst qualities out of the picture providing TRUTH rather than trusting each other
And in the depth of the #bearmarket this issue is more prominent than ever
Much like @twobitidiot has laid out recently
With blockchain, we have a chance to engineer our worst qualities out of the picture providing TRUTH rather than trusting each other
And in the depth of the #bearmarket this issue is more prominent than ever
Much like @twobitidiot has laid out recently
https://twitter.com/twobitidiot/status/1595038249629921280
8/
While it’s intellectually dishonest to throw everyone in the same bucket as SBF and #FTX
The problem boils down to how we organize each other to prevent the issue altogether
$BTC solves the money problem
$DOT solves the people problem
While it’s intellectually dishonest to throw everyone in the same bucket as SBF and #FTX
The problem boils down to how we organize each other to prevent the issue altogether
$BTC solves the money problem
$DOT solves the people problem
9/ #Polkadot
The community has taken the long, arduous and decentralized road to success
From methodical building from @Parity_tech, to the hype and genuine letdown of crowdloans (user perspective), to the ever growing dev community that continues to work on the vision
The community has taken the long, arduous and decentralized road to success
From methodical building from @Parity_tech, to the hype and genuine letdown of crowdloans (user perspective), to the ever growing dev community that continues to work on the vision
https://twitter.com/dotinsights_xyz/status/1592489318379319296
10/
With the recent passing of #OpenGov, the centralized parts of Polkadot governance are soon to be fully removed
They’re already gone on @kusamanetwork where all the hiccups are being worked out
This brings forth the largest functioning DAO in all crypto
With the recent passing of #OpenGov, the centralized parts of Polkadot governance are soon to be fully removed
They’re already gone on @kusamanetwork where all the hiccups are being worked out
This brings forth the largest functioning DAO in all crypto
https://twitter.com/alice_und_bob/status/1596080472572170241
11/
This governance upgrade is one of the key pieces to evolving Polkadot into the software that will power the next version of the internet
Unlocking the creator economy, trustless business, and so much more
Imagine what can be done when trust is a certainty
This governance upgrade is one of the key pieces to evolving Polkadot into the software that will power the next version of the internet
Unlocking the creator economy, trustless business, and so much more
Imagine what can be done when trust is a certainty
https://twitter.com/gavofyork/status/1596032393252831234
12/
To learn more about the core tech of Polkadot, check out this dive which contains more links to learn further
To learn more about the core tech of Polkadot, check out this dive which contains more links to learn further
https://twitter.com/csaint02/status/1583553948497375233
13/ The Issues
Polkadot isn’t perfect, but is certainly iterating its way to a better version and is uber flexible to evolve over time
Common tropes about Polkadot
1. UI/UX sucks
2. Ghost town
3. Where’s the marketing
Let’s go quickly through ‘em, the thread’s long enough 😂
Polkadot isn’t perfect, but is certainly iterating its way to a better version and is uber flexible to evolve over time
Common tropes about Polkadot
1. UI/UX sucks
2. Ghost town
3. Where’s the marketing
Let’s go quickly through ‘em, the thread’s long enough 😂
14/ UI/UX Sucks
Lmao
Polkadot’s been live for about a year now and the UI and UX have vastly improved
Polkadot.JS is the wallet/tool for devs. Don’t use it!
Everyday users employ
Desktop: @wearetalisman or @subwalletapp
Mobile: @NovaWalletApp
Best wallet bar none👇
Lmao
Polkadot’s been live for about a year now and the UI and UX have vastly improved
Polkadot.JS is the wallet/tool for devs. Don’t use it!
Everyday users employ
Desktop: @wearetalisman or @subwalletapp
Mobile: @NovaWalletApp
Best wallet bar none👇
https://twitter.com/wearetalisman/status/1587134828817788929
15/ Ghost Town
Not gunna lie, it’s not like there is the traffic or active users that’s on $ETH or even $SOL
But when you account for all L1s currently live in #Dotsama and digest everything that’s going on, your mind will be blown
70 live chains w/ 185 total
Here’s 3 👇
Not gunna lie, it’s not like there is the traffic or active users that’s on $ETH or even $SOL
But when you account for all L1s currently live in #Dotsama and digest everything that’s going on, your mind will be blown
70 live chains w/ 185 total
Here’s 3 👇
16/
@MantaNetwork uses zkSNARK tech to bring flexible privacy to transactions, NFTs, and basically everything on the blockchain
They’re also launching the largest trusted setup EVER with 12,000 participants
Larger than @TornadoCash and @zcash
@MantaNetwork uses zkSNARK tech to bring flexible privacy to transactions, NFTs, and basically everything on the blockchain
They’re also launching the largest trusted setup EVER with 12,000 participants
Larger than @TornadoCash and @zcash
https://twitter.com/mantanetwork/status/1596183066237882369
17/
@MoonbeamNetwork has one focus on mind - the most interoperable chain in all of crypto
Their feed alone is like drinking through a water hose with how many projects and tech upgrades they integrate from week to week
The #EVM hub of Polkadot
@MoonbeamNetwork has one focus on mind - the most interoperable chain in all of crypto
Their feed alone is like drinking through a water hose with how many projects and tech upgrades they integrate from week to week
The #EVM hub of Polkadot
https://twitter.com/MoonbeamNetwork/status/1592304382212984832
18/
@AstarNetwork is the leading blockchain network in #Japan who recently announced making web3 a part of the country’s future
@WatanabeSota continues to impress and is a champion for Astar helping secure partnerships with NTT DOCOMO and even entire cities 🤯
@AstarNetwork is the leading blockchain network in #Japan who recently announced making web3 a part of the country’s future
@WatanabeSota continues to impress and is a champion for Astar helping secure partnerships with NTT DOCOMO and even entire cities 🤯
https://twitter.com/AstarNetwork/status/1582383185224081408
19/ Where’s the marketing?
The L1s like those above and the community made of people like you and me are the marketing
@PolkaHaus is leading the charge in this department with a World Tour soon and as the network effects take hold, $DOT will go parabolic
It’s a matter of time
The L1s like those above and the community made of people like you and me are the marketing
@PolkaHaus is leading the charge in this department with a World Tour soon and as the network effects take hold, $DOT will go parabolic
It’s a matter of time
https://twitter.com/dotinsights_xyz/status/1592115353395810304
20/
Polkadot aims to bring forth the vision of a decentralized web
It’s no doubt easier to run #Web3 in #Web2’s clothing, but it’s a slippery slope to get right back where we started from
Stick with #Web3, don’t fade @Polkadot
Polkadot aims to bring forth the vision of a decentralized web
It’s no doubt easier to run #Web3 in #Web2’s clothing, but it’s a slippery slope to get right back where we started from
Stick with #Web3, don’t fade @Polkadot
21/
If you found this thread interesting, like and RT the first in this thread (linked below)
Give me a follow to stay up on @Polkadot and @kusamanetwork
And finally join @thatMediaWag and key in to @TheKusamarian to really get started in #Polkadot
If you found this thread interesting, like and RT the first in this thread (linked below)
Give me a follow to stay up on @Polkadot and @kusamanetwork
And finally join @thatMediaWag and key in to @TheKusamarian to really get started in #Polkadot
https://twitter.com/csaint02/status/1596832208085737472
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