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MartyParty

Jun 6, 2024

3 month Blockchain adoption. Active Users.

A real thread. No bs.

Outside store of value only 2 execution layer chains have been adopted and are turning up as network effects kick in.

They are @Solana and @SuiNetwork. @NEARProtocol is showing promise in 3rd place.

Everything else is dying. If you have been "sold" or "marketed" to think differently you need to wake up soon.

I look at DATA.

Adoption. Code. Github. CTOs. Industry platform architects. No other blockchains are going up in adoption, they are all going down as execution layers.

Lets look at the 3 month "ACTIVE" addresses.

Here is 3rd place @NEARProtocol with a solid trend. Nothing parabolic yet and its had zero FUD. Chains must endure FUD to survive. Until they endure FUD and survive I dont go heavy. But Im in $NEAR.

Here is Ethereum. It has become a store of value not a scalable execution layer. It never was and shoud have stayed Proof of Work IMO. Bitcoin is a better store of value and Ethereum is a terrible execution layer. Its adoption is going down in fact as an execution layer.

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MartyParty

@martypartymusic

May 27, 2024

Breaking: Vanguard @Vanguard_Group files a Vanguard Specialized Fund 485BPOS and includes these descriptions of Digital Currency, Digital Security Token and Digital Utility Token for the first time Ive ever seen these.

sec.gov/ix?doc=/Archiv…

https://x.com/martypartymusic/status/1795171300949872700

https://x.com/martypartymusic/status/1795171300949872700

To be clear this definition of digital assets has never been in any guideline or even mentioned before. How does this clear description of digital security tokens and utility tokens land you in a Vanguard document? Who wrote this - did this come from the new CEO ?

Read 4 tweets

MartyParty

@martypartymusic

Dec 6, 2023

A great crypto thesis: @Solana will disrupt @Apple, @Samsung, @google and cloud service providers @Microsoft and @amazon

Yes, that’s right. I’m not talking about Ethereum, Polygon, Cardano, Avalanche, Hedera, or any other chain. And no, I’m not talking about the Saga phone. I’m talking about the world of software applications. I think Solana in particular will be the crypto winner in this domain by a wide margin. Let’s talk about why…

The application layer

Imagine you buy a new phone. It doesn’t matter which brand, but imagine that this phone costs you $1000, and it’s better than an iPhone. Way better. It’s loaded up with all the apps you expect, but they are better than the Apple equivalents.

The calendar/to-do apps are all built by third parties, so you can pick which ones you like the most, but they all integrate seamlessly together. They can share your data between them. Want to switch to a new calendar app? Just download it, and you don’t even need to migrate your data to the new app. It’s already there when you open the app.

Now imagine you open your navigation app, and all those calendar events are loaded into it, and it offers a screen that tells you the estimated commute times for each event location. No app integrations necessary.

Not only that, but you can open a random restaurant recommendation app, and an AI model will look at your travel patterns, grocery preferences, and pre-existing eating habits, and automatically recommend 10 new restaurants that you’re going to love. But you’re feeling more adventurous, and you speak to it, saying, “I was actually thinking about trying out Himalayan food, preferably not too expensive” and it produces a nice (probably small) list of options. You say, “schedule a date with my wife for tomorrow at that second one on the list,” and it creates a calendar event, invites your wife (who uses a totally different calendar app), and makes the reservation for you.

Now imagine that all of this happens without any centralized entity collecting your personal data. It’s all encrypted and it all lives on the Solana blockchain. Not only that, but all the apps are super cheap and usually free. The only catch is that you spend about $3/month on SOL that you need in order to use these apps.

How is this possible? Well, the entire point of blockchains is to have a globally shared state that can be accessed by anyone at any time. Imagine if all the Web2 tech companies shared a single database and could integrate all their apps together to give you a seamless user experience across all of them. Solana enables that.

With this type of system, we don’t need those big tech companies collecting “platform rent.” Individual companies lose their network effect when the network is global, permissionless, and open-source. Now the companies building applications will need to focus less on building a huge moat of personal data capture & exclusive “walled gardens” of applications, and will instead focus more on delivering great user experiences. They won’t be able to rest on their laurels because they have all their users locked in. Users can’t be locked in if their data is freely available to competing apps. The friction of switching to a new app becomes nonexistent.

The underlying tech

Let’s talk about the technical reasons that Solana not only meets these requirements, but is also the most likely candidate to dominate this use case.

To do all of these seamless app integrations, you can’t be constantly splitting up that state onto multiple shards and rollup chains. Instead, you really need a single integrated blockchain that holds all the state on-chain. Obviously you can get away with using multiple layers of chains, but that’s way more complicated for developers and potentially the end users. We want simplicity and ease, so a monolithic blockchain is ideal. As much as admire Ethereums history, Ethereum’s model is far less than ideal.

To have a useful monolithic blockchain without the need for layer-2 chains, you need **speed**. You need insanely high data throughput. You need insanely fast time-to-finality & block validation. You need to eke out as much performance as the hardware will allow. Solana has that. It was designed to run as “close to the metal” as possible on modern hardware. With the new **@jumptrading @jump_firedancer ** client, it’s getting even faster.

But raw speed isn’t the whole story. You also need **parallel block validation**. This is less about “running close to the metal” and more about allowing all your CPU cores to run all of that fast code to validate many blocks simultaneously. Ethereum (and most other chains) require each block to be validated one-at-a-time, because you need to avoid multiple clients writing data to the same state at the same time. Ethereum handles this “state contention” problem by forcing each block to wait in line for validation. In contrast, Solana is designed to inspect which parts of the state are being written to, and if they don’t overlap, those blocks can be validated in parallel.

Parallelism unlocks more speed, but it also does something else that’s potentially even more critical: it provides **isolated fee markets**. This means that if 100 companies want to mint 1 million NFTs at the same time, the fees only scale up relative to one NFT collection. The fact that they have non-overlapping state allows these NFT mints (and associated transactions) to be performed in parallel. From a more generic application perspective, this means that a single Solana app that gets a ton of traffic will not affect the fees you pay for non-related apps. This isn’t true for Ethereum.

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