For those who missed two of the greatest minds, @gavofyork x @VitalikButerin, coming together after a very long time that I can’t even remember, here are the 9 best moments—the lazyman version…🧵
Ofc, starts with a joke.
‘’I thought I was the ideas guy and Gav does all the real coding’’.
First wrote Ethereum, then Polkadot, and now what the heck is this JAM thing.
Why it uniquely stands out as a breakthrough that’s additive to the greater blockchain ecosystem.
How to build an ecosystem: Community x Tech
—If your tech supports only one specific way of doing things, it often attracts a community that strongly convinces themselves it's the only correct approach.
Gav’s take on Ethereum’s strength.
Conflict breeds community x Moderate governance & lack of opinionation breeds good community.
On-chain governance vs. off-chain governance:
Gav is less opinionated about the base layer tech needing autonomous upgrades. Aligns more with Vitalik.
Reason: the base layer tech should be minimal & opinionless, and thus not a target for upgrades, not in the long term.
Vitalik is also interested in adding elements of formalized, DAO-style governance, with better public signaling tools to steer things more democratically, rather than relying on nebulous consensus among a few dozen devs.
Missing layer: Broadening the intellectual and idea layer, asking big-picture questions.
In the 2020s, what is Ethereum trying to do? What is its role? What world are we trying to achieve through its existence?
With tens of billions invested, why is the industry still irrelevant, with daily active users under 1% of the global population?
It’s about this still being mostly a tech and financial product, marketed to people with minimal tech and financial needs or background.
Decentralized approaches excel where centralized ones fail, such as in international payments and developing countries.
The industry should continue to enhance tech, reduce user barriers, and find more long-tail use cases.
What’s your take on these two coming together?
It's not really ideal and possible to have only one path to achieve a particular goal, right.
• SEC's actions on crypto assets?
• @Polkadot has morphed ?= Security -> Software
• What has @Web3foundation achieved w/ self-certification?
• Why no-action letter doesn't mean what people think?
• Why no marketing?
Seeking answers amidst the noise? Welcome🧵(0/35)👇
1/ All that fuzz about SEC's actions
It is becoming the new norm seeing SEC’s enforcements on another centralized structures every month.
At the same time, debates flare over which crypto assets should be classified as securities and whether they are subject to enforcement.
2/
Remember June 2022 when SEC Chair Gensler has warned that non-cooperating exchanges are operating outside of the law & may face enforcement.
In Feb 2023, Kraken was accused of selling unregistered investment contracts since customers are promised regular returns by staking.
1/x Unpopular opinion: IBC and XCMP, aka XCM, are not competitors but collaborators.
What do they collab against?
Flaws in blockchain ecosystems.
2/x As the paradigm shifts towards multichain & interoperability, we've seen design flaws in blockchains become more apparent.
3rd party bridge exploits showed us that they're not secure or reliable to use.
In addition, they are not functional beyond token transfers.
3/x The merge of Ethereum enables light client bridges by providing provable finality. This will give a possibility of preventing many potential hacks.
The blockchain space will inevitably be shaped by messaging protocols like IBC and XCM.
1/ Interoperability is the key to a successful blockchain future.
But what is it, really?
A deep dive into understanding Interoperability by looking it through TCP/IP. (No technical info, promise)
🧵👇
2/ Beyond many other problems, after 2020 we're majorly facing interoperability issues of blockchains.
If we want to understand what’s interoperability and what it will provide, we need to go back and study TCP/IP just like we first read the Bitcoin whitepaper for crypto.
3/ TCP/IP stands for Transmission Control Protocol/Internet Protocol.
It's a set of standardized rules that allow computers to communicate on a network such as the Internet.