I still think ZK is under hyped. Let's talk about why, and a couple analogies from web2
We often talk about crypto's "iPhone moment" or Eternal September, but what finally tipped developer and user adoption over the edge?
The iPhone presented three new developer tools that hadn't existed together before. It combined a 1) programmable mobile computer, 2) GPS, and 3) a high quality camera.
From the camera emerged applications that were focused on photo sharing like Instagram. As @cdixon put it, users would "come for the tool (photo filters) and stay for the network (a social network)"
From the GPS and camera combined we got apps like Uber and Doordash. These networks provided heavy subsidies to begin with and today have significant market power
I think something similar could happen with ZK, particularly zkVMs like Jolt. Verifiable compute is a new developer primitive, and I'm excited by a couple of use cases
I think DeFi protocols should adopt risk modeling in ZK and use more complex pricing functions that run off chain and are proven trustlessly onchain
Blockchains and ZK proofs could uniquely enable humans to own censorship resistant AI companions, an idea the great @packyM talked about his his Love in the Time of Replika post
I went through Crypto Start Up School in 2020. My project failed, but yours doesn’t have to. In preparation for CSS 2023 I’ve gathered some simple fundraising tips and tricks for first time founders. a16z.com/crypto-startup… Here are my thoughts:
2/ Tell a story. On average humans do better with narratives than with facts. Humans are highly fallible and easily distracted, especially over Zoom. Without losing sincerity make your pitch/conversation engaging and interesting.
3/ Have a team slide. Focus on what makes you (the founders) exceptional. At the early stages investors are almost entirely investing in you as a person and your ideas are only a conduit through which to assess your ability as a founder.
We believe on-chain lending is an essential DeFi primitive, but users must choose between pooled liquidity or full order books. We’re excited to announce our investment in @MorphoLabs, combining the best of both worlds to offer a Pareto improvement in lending and borrowing rates.
Morpho builds on Compound, offering a fully-decentralized peer-to-peer lending protocol on top of Compound’s underlying peer-to-pool protocol. Using a novel on-chain matching engine, the Morpho protocol is able to autonomously coordinate better rates for users.
Having launched last month, the protocol is already attracting strong usage. With the majority of volume matched peer to peer, the protocol has demonstrated the Pareto rate improvement in practice. compound.morpho.xyz/?network=mainn…
Crypto users have had a difficult tradeoff: true ownership from complex self-custody, or robust security from traditional custody? That needs to change, so we’re leading the $25M seed round in @entropydotxyz, a decentralized asset custodian for everyone.
We believe tokens are the native asset of the Internet, and they’re enabling new methods of human coordination by representing value on blockchains. True sovereignty and ownership of them is a big part of what makes crypto special.
Entropy has the potential to bring decentralization to custody, allowing permissionless, secure, and efficient access to almost any token for any user.