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dom.icp ∞ Profile picture
@dominic_w
Jan 10, 2023 • 6 tweets • 2 min read • Read on X
2023 ➠ HUGE crypto advances🚀🚀🚀

Internet Computer | #ICP ➠ trustless L2 for bitcoin, ether, ERC20, smart contracts

It's started happening ALREADY, check out what's going on👇
MOMENTS AGO, I acquired icBTC on ICDex.io

My purchase took 1-2 secs⚡️

ICDex provides FTX-like functionality. But ICDex is really a next-gen DEX in beta, running 100% on-the-blockchain, including its web experience

It's made with decentralized smart contracts👇
I bought ckBTC (chain key🔑 bitcoin). You can go from ckBTC <> BTC instantly and without a bridge. Trustlessly🔥

How? Insane alien chain key crypto that's now entering production on #ICP⚔️

It's beyond powerful: so here's what I hope ICDex will deliver...
👇
ICDex should list every major crypto asset on earth for exchange. Usually those assets will STAY on their original chains – CK analogs are only needed to add speed to e.g. Bitcoin⚡️

No bridges involved! ICP smart contracts can create TX on other blockchains. Game changing...
👇
ICDex runs 100% on the blockchain, and can be 100% controlled by a community DAO

Shall use SNS (Service Nervous System) DAO tech. All upgrades, everything, will go through the DAO. No more SBFs🔥

The governance tokens will become a new crypto asset to trade

Revolution coming🚀
Addendum. Somebody needs to put more ckBTC on that ICDex market. Beta or not! The seller got a ridiculously good price from me😂🤑🙃

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More from @dominic_w

dom.icp ∞ Profile picture
Nov 18, 2023
Ditto 🔥. @balajis we should chat some time!

Web3 and enterprise services can be built 100% on-chain on the Internet Computer using smart contracts.

Hardware is key to the magic formula: #ICP runs on sovereign hardware, similarly to how Bitcoin is created by ASICs 👇
#ICP "node machine" hardware specs are publicly standardized, and "node providers" create "provider profiles" on the network.

This helps make decentralization configurable, and is 100% necessary to the delivery of efficient "full stack decentralization"👇
Hardware standardization ensures no nodes in #ICP "subnet blockchains" (invisible to contracts) fall behind under high tx load, and helps support actor smart contracts with up to 96GB of persistent memory each.

What's key, though, is hardware sovereignty👇
Read 7 tweets
dom.icp ∞ Profile picture
Mar 7, 2023
@SaorsaLabs @Ankit_220793 Endless witch hunts won't bring anything out of the shadows. It just draws attention to quasi-criminal FUD and gives it life. The idea that as an organization, we would go through years of R&D to perform some kind of rug pull is absurd👇
@SaorsaLabs @Ankit_220793 This idea that the price fell because of insiders selling, also completely misses the obvious (as all conspiracy theories do): if the price was too high at $500, then it was going to fall in EVERY circumstance because of price discovery👇
@SaorsaLabs @Ankit_220793 Yes, we had/have by far the largest R&D team in crypto, because we actually did R&D and Internet Computer | ICP is not decentralization theatre, it's real tech, which took hundreds of years of engineering work to create. Many people had ICP. They weren't insiders👇
Read 25 tweets
dom.icp ∞ Profile picture
Dec 14, 2022
Some Internet Computer | #ICP blockchain aims are less well known.

One such aim: Creating an equivalence between a bitcoin token and a social network ∞

This requires some explaining👇
A bitcoin on the Bitcoin ledger has some important key properties:

1. It's autonomous (no dependence of central parties, it just exists)

2. Ownership and control is sovereign to the key holder(s)

3. It's tamperproof & unstoppable. No hackers, govt. etc can stop it👇
Ethereum showed us that we can put more than tokens on a blockchain ledger. We can put code and data on a ledger too using smart contracts

Systems & services constructed using smart contracts – and smart contracts alone – can gain the same magical properties as a bitcoin👇
Read 19 tweets
dom.icp ∞ Profile picture
Aug 2, 2022
The Internet Computer (ICP) is
a singular vision of web3

The vision is sufficiently opinionated,
it can only be right or wrong

The choice is vexing many in blockchain

Is this a web3 awakening, or not?

Hear the arguments👇
ICP’s vision is that web3
services & dapps should always run:

- 100% on blockchain (no cloud..)
- In the mode of decentralized *protocols*

i.e. they must be built 100% from smart contracts that serve web & run autonomously under the full control of community DAOs

Why?👇
Because a web3 social network CAN overcome Facebook 1 day

But NOT just by dispensing NFTs

Billions of users are already on Facebook

This "network effect" forms a defensive moat

Web3 must use "pervasive tokenization" to overcome such moats👇
Read 11 tweets
dom.icp ∞ Profile picture
May 12, 2022
It's time to speak out about some troubling stuff on FTX

ICP-PERP is a synthetic version of real ICP, exclusively created and traded there

The price is usually slightly below that of real ICP traded on spot markets.

Here's why 👇
When the price is below spot, that means traders/hedge funds/market makers can profit by:

1. SELLING n ICP
2. BUYING n ICP-PERP

When the price of ICP-PERP is kept below spot, it drives the selling of real ICP on exchanges around the world

But is the ICP sold coming from?👇
Many folks have "staked" ICP on exchanges to receive juicy returns of up to 20%

The exchanges generate those returns by making the ICP available to "short sellers", who are charged interest

They sell the ICP, hoping to buy it back cheaper later = big profits

👇
Read 7 tweets
dom.icp ∞ Profile picture
Aug 1, 2021
DeFi chains connect to Bitcoin & Ethereum via "bridges".

1/ Your original assets are lost if trusted validators:
- Collude or get hacked
- Receive a cease and desist

The Internet Computer will integrate with Bitcoin and Ethereum DIRECTLY w/o a bridge, trust or fragility

How?
2/ Chain Key crypto on the Internet Computer will maintain an infinite number of Bitcoin ECDSA keys, virtually...

Smart contract have their own Bitcoin address

They can receive bitcoin, and can send bitcoin using a function call

Bitcoin.send(...)

The bitcoin lives on Bitcoin
3/ When a smart contract sends bitcoin, the Internet Computer constructs the required Tx...

The protocol enlists multiple independent nodes to sign using a "threshold" ECDSA scheme

The Tx is passed directly to a Bitcoin node
Read 7 tweets

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