shivamadan.eth 🦇🔊 Profile picture
I write threads breaking down DeFi, NFTs, & other degen-speak to plain English | Helping companies 'cut to digital' @WorkBoardInc | YT🎥: Leapfrog Crypto
雷神Value(✊, ⬜) Profile picture 1 added to My Authors
Jan 25 16 tweets 10 min read
Every crypto predictions thread for 2023 has one narrative in common:

Zero-Knowledge Protocols

Your Ultimate 0-to-1 Guide to everything Zero-Knowledge 🧵 This is a mega thread comprised of the following segments:

- Zero Knowledge (ZK) Proofs
- ZK Rollups vs Optimistic Rollups
- The magic behind ZKRs: SNARKs vs STARKs
- Making ZKRs practical: ZK EVMs & their types
- Polygon ZK (@0xPolygonZK)
- Scroll ZK (@Scroll_ZKP)
Jan 18 21 tweets 10 min read
To find opportunity, you've got to follow the narratives,

Following the narratives will lead you to Scroll📜 (@Scroll_ZKP)

The Ultimate Guide to Scroll: 🧵 This thread will cover the following:

- What is Scroll?

- Why is it important?

- How does the Scroll zkEVM work?

- Who are the Gigabrains building Scroll?

- How to sign-up for 📜 testnet? (Potential Airdrop 🪂)
Dec 23, 2022 8 tweets 4 min read
Exactly one year ago, I wrote my first thread on Twitter

It's been an amazing 12 months of sharing, learning, and growing on Twitter. I'm grateful for each and every one of you who has been a part of this journey with me

A quick recap 🧵 The first thread was a short guide on how to begin in Web3

My own inspiration came from the famous @cdixon - @tferriss podcast
Dec 21, 2022 16 tweets 6 min read
In 2021, Polygon brought together multiple teams to build the holy grail of ZK technology - @0xPolygonZK

One year later, that dream seems to be coming true as their solution marches towards a mainnet launch

Everything you need to know 🧵 @0xPolygonZK is a zkEVM solution being designed to scale the Ethereum blockchain

Specifically, zkEVMs are general-purpose virtual computers that replicate the Ethereum environment in a zk rollup
Dec 19, 2022 10 tweets 3 min read
Current solutions to ZK-Rollups are mostly centralized

Only specific operators can submit tx batches and validity proofs to L1

Polygon zkEVM (@0xPolygonHermez) solves this by using a Proof-of-Efficiency (PoE) model to decentralize the process

Here's how it works 🧵 Image Producing validity proofs for zk rollups requires high computation power

This makes the process centralized as not everyone can afford the high amount of resources

To build an efficient and decentralized rollup network, we need a model that provides:
Dec 1, 2022 17 tweets 5 min read
zkEVMs are the future of Ethereum

They are being developed at a breakneck pace. But not all zkEVMs are created equal!

Your guide to different types of zkEVMs:

1/17 If this is the first time you're hearing the word zkEVM, here's a quick refresher:

2/17
Nov 16, 2022 18 tweets 5 min read
"Not your keys, not your coins"

Everyone knows this. Yet, thousands of people relied on FTX to keep their coins safe. For one simple reason:

Self-Custody is HARD 🧵 If you lose your private keys, you lose all your tokens.

And there's nothing you can do about it!

Millions of dollars have already been lost because of a loss or theft of private keys
Nov 11, 2022 19 tweets 7 min read
Zero-Knowledge Proofs

STARKs vs SNARKs

A ground-up guide🧵 Image STARKs and SNARKs are two genius technologies that use different approaches to achieve the same objective:

Zero-Knowledge Proofs

zk proofs enable one party to prove to another party that they know something without revealing the information itself
Nov 5, 2022 14 tweets 4 min read
Been getting a lot of questions about yield strategies on FRAX

One protocol I've been looking into is TopGear by @BrahmaFi

It's a single-sided vault that allows users to deposit FRAX in exchange for up to 12.25% stETH yield!

A quick 🧵

(NFA) Image Organic yields on-chain are scarce ever since the Terra crash

The situation is even worse in the large TVL pools

Yields on some of the Frax Curve Pools are now below 3% Image
Nov 2, 2022 22 tweets 7 min read
(1/17)

It took me 50+ hours to completely understand zkSNARKs for the first time

Now I can explain it to anyone in 10 minutes

A normie's guide to this monumental technology: (2/17) zkSNARKs have been the talk of the crypto town for the past few months

And they are worth ALL THE HYPE as they can provide:

- privacy on dApps and blockchains
- scalability through zk rollups
- security on layer 1 blockchains like @zcash and @ironfishcrypto
Nov 1, 2022 16 tweets 5 min read
(1/15) A ground-up guide to building zkSNARKS, part 2

Proving something without any interaction with the verifier!

Let's dive right in 👇 (2/15) In the first part of this thread, we used an existing proof system, 'Fiat Shamir Heuristic', and made it more robust by:

- Adding a strong ZERO-KNOWLEDGE property

- Making sure that the prover doesn't cheat!
Oct 31, 2022 24 tweets 6 min read
(1/22) zkSNARKS have been the HOT topic of 2022. But how do they work?

A ground-up guide to building this GENIUS technology (part 1/2) 👇

(Spoiler: you don't need a degree in maths to understand this) Image (2/22) In this first part, we will use previous proof systems and make them stronger

In particular, we will focus on the "Grandfather of zero-knowledge proofs", the Fiat-Shamir Heuristic
Oct 5, 2022 13 tweets 4 min read
Blockchains are one of the most exciting technologies

But most of them suffer from one major problem:

Scalability

Here's how (and why) Modular Blockchains will 10x the network throughput: Blockchains have 4 major functions:

1. Execution - Process txs & state changes

2. Settlement - Dispute resolution & bridges

3. Consensus - Order txs & provides finality in the block

4. Data Availability - Ensures all tx data is available
Oct 3, 2022 16 tweets 5 min read
Blockchain scalability is one of the biggest problems in crypto

But one solution is here:

Data Availability Proofs

Here's how it works (and why it's game-changing): First, let's understand the problem:

When block providers propose a block on the network, they can choose to hide certain txs

There's no way for the network to prove that the data is missing

This is called the Data Availability problem:
Oct 1, 2022 12 tweets 3 min read
1/12 Data Availability Problem

Many talk about it, but few understand it

A quick 🧵 2/12 As the name suggests, 'DA' problem refers to the the availability of tx data on blockchains

Each block in a blockchain consists of 2 parts:

1. Block header - Basic information about the block (including Merkle root)

2. Tx data - all the txs in that block
Sep 24, 2022 27 tweets 8 min read
2 days ago, my post about frxETH got a lot of questions on the mechanics behind it.

So here's my attempt at explaining @fraxfinance's latest shipment - Frax Ether 🧵 Here's the OP:

(This thread should answer most of the questions in the comments of OP)
Sep 22, 2022 17 tweets 4 min read
We generate 2.5 Quintillion bytes of data every day!

We pay 100s of dollars to buy cloud storage every year and yet, we run out of space.

How then are 100s of 1000s of NFTs stored on EVERY SINGLE computer on the Ethereum blockchain?

Well, They are NOT

At least not always👇 First, let's understand how NFTs work:

NFTs are unique digital images that cannot be replicated.

If I owned the original Mona Lisa in real life, I would have the only real Mona Lisa in the world. Everyone else’s copy would be fake.
Sep 6, 2022 18 tweets 4 min read
A normie's guide to Optimistic and ZK-Rollups 🧵 Ethereum is an extremely popular blockchain. Everyone wants its security and decentralization

But the high demand also causes a lot of congestion - the txn costs (gas) are high and the speed of txns is low
Aug 7, 2022 6 tweets 2 min read
MEV seems like the theme of CT this weekend.

Don't know what it means?

Here's a 15-minute ZERO to ONE crash course on MEV

'The invisible value of blockchains' 🧠🧵👇 1.) MEV 101
Aug 5, 2022 14 tweets 3 min read
The Bitcoin blockchain is 430 GB big!!

Ever wonder how this huge amount of data is quickly moved & verified around the entire network?

Answer: MERKLE TREES

Explained like you're 5: 🧵 Bitcoin uses a 'Proof-of-work' system to add new blocks of txns to the blockchain:

- A blockchain is simply a chain of blocks, hence the name

- Each block is like a ledger containing a list of txns

- These blocks are created by operators called 'Miners'
Jul 31, 2022 10 tweets 4 min read
Want to learn something new in 15 minutes?

Here's a quick ZERO to ONE crash course on Frax Finance: 🧵 1.) What is $FRAX? - The dollar-pegged stablecoin