Thanks #ftx, #dex vs #cex debate is hot again in #crypto

I've spent many years thinking about #dex implementations & building prototypes.

Lets dive in a little & explore the possibility of replacing #exchanges with #decentralized alternatives today

A small thread 🧵 1) Firstly we need throughput, lots & lots of it. A popular exchange such as @binance is likely performing 10,000s of trades per second across 100s of pairs.

A few years ago this kind of throughput was a dream, but not so much today 💪

I've been v.quiet lately as I'm laser focused on #cassie cleanup, improvements, testing etc but it's going well.

Starting to get some tangible results that are interesting to the #crypto crowd so thought I'd share in a thread ⚠️ Some background first.

The #cassie code base before starting this work was a real bloody mess!

My focus was to find a solutoon/implementation that worked, not to write clean, pretty, fast code.

Hacking around with ideas & progressive theory produces terrible code.

Ran the test for an hour ... total SUCCESS!

Here's a breakdown 🧵

#cassie #web3 #blockchain #crypto

https://twitter.com/fuserleer/status/1525811806207344642

Purpose of the test is to ensure that #cassie can support at least validator set sizes of 100.

100 validators provides an acceptable level of security, decentralization etc ... more is always better OFC.

⚠️ ALERT BRAINDUMP

Survival of any stable coin, whether its a peg, or a free floating currency really comes down to one problem.

Given a trading pair A/B and some level of volatility, what is the level of volatility at A and at B

https://twitter.com/XRDScan/status/1524481644916269063

If B is intended to be "stable" and you know the volatility metric then you can act accordingly, removing or adding supply via some mechanism.

You might be duped into thinking its easy, if the price now is 5/20 & the price before was 10/20 then A has doubled in value, right?

There's a lot of questions about #cassie, what is the significance, why is it cool, what does it demonstrate, how is it #web3. Even moreso since the #radflix demo dropped & the exposure it got on various socials etc so here is a thread... Hopefully yall know by now that it is primarily a research network. It started as a collection of radical ideas around #consensus, #sharding, #blockchain and #cassie is the embodiment of those ideas to demonstrate viability. But it has now become so much more...

Throughout the day a few folks have correctly noted that there are indeed hybrid consensus platforms such as $dot #symbol #eth2 & others.

However there's a subtle but important difference in #cassandra that perhaps warrants "hybrid" as the incorrect term.

Clarification then...

https://twitter.com/fuserleer/status/1375812655697563650

As far as I understand, these solutions are essentially two separate consensus mechanisms.

Probabilistic to perform state transitions, with deterministic to finalise the best version of the former.

It works & does the job required, so why is #cassandra different?

....

One key area of research I'm doing with #cassandra is testing hybridization of deterministic & probabilistic consensus models.

Successfully doing so would provide an almost "best of both worlds" type model.

... Probabilistic (#nakamoto) has strong liveness guarantees but is never really safe.

Deterministic (classical) guarantees safety but is difficult to resolve both liveness and safety issues. Usually requiring some #godmode