- Bitcoin (Gen 1, 2008) enabled scriptable settlement, great for cryptocurrencies, and enough for some dApps, colored coins and Namecoin – they were clunky, but worked!
- Ethereum (Gen 2, 2015) enabled programmable settlement, more expressivity via Turing-complete smart contracts, led to much better versions of colored coins (ERC20) and Namecoin (ENS), plus many more (DAOs, NFTs, SBTs, etc).
- But, programmable settlement is not sufficient for all advanced applications on Ethereum (0x, CoW Swap, Uniswap, Wyvern / Seaport / OpenSea, Flashbots, Gitcoin, L2s like Optimism and Starknet, etc.)
- Because they require 1) more expressive intents, 2) counterparty discovery, and 3) a searcher/sequencer/solver component
- Most dApps require 1), 2), & 3), but they are implementing the first two with a centralized Web2 server run by the core team – basically all dApps are at best Web2.5, where in some cases the final settlement happens on Ethereum.
- All protocols from Ethereum to today (2
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Participation (q) | Required Quorum (Q) | Required Quorum (Q') | |
---|---|---|---|
0 | 0.3 | 0.3 | |
0.01 | 0.3 | 0.304 | |
0.02 | 0.3 | 0.308 | |
0.03 | 0.3 | 0.312 | |
0.04 | 0.3 | 0.316 | |
0.05 | 0.3 | 0.32 | |
0.06 | 0.3 | 0.324 | |
0.07 | 0.3 | 0.328 | |
0.08 | 0.3 | 0.332 |
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{ | |
"moniker": "awa-cryptiumlabs", | |
"chain_id": "test-chain-QkPQl6", | |
"node_id": "ac3398d4d412683a9e797302cdc8a60660d7bbf1", | |
"gentxs_dir": "", | |
"app_message": { | |
"accounts": null, | |
"auth": { | |
"collected_fees": [], | |
"params": { |
I hereby claim:
- I am awasunyin on github.
- I am awasunyin (https://keybase.io/awasunyin) on keybase.
- I have a public key ASBStqNAp3SAOUjZKfWKJZDf0sFDd3hCi0vhjgAeLyHrugo
To claim this, I am signing this object: