Not going to Berlin blockchain week. But will be at Edge Es | _weidai on Binance Square

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Not going to Berlin blockchain week.
But will be at Edge Esmeralda next week (15-20th).
HMU if you are working on interesting problems.

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Recent improvements in crypto infra are getting incremental: we have steady improvements on latency, throughput, faster zk proofs, etc. What are some exciting open challenges that, if solved, enable net new apps? (Privacy is one for sure but curious of others.)

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1/ "Zero trust" is a term that is growing fast in popularity, with mindshare growing faster (per Google trends) than "decentralization" and "self custody", two main pillars of crypto. What is Zero Trust?! 🧵

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Why crypto need to refocus on capability, over blind emphasis on decentralization or verifiability. All technological progress are defined by the capabilities unlocked. For crypto: - Censorship-resistant money (and store of value) was the first capability unlock. - Permissionless asset creation and finance was the second capability unlock. Notice the theme: censorship resistance and permissionless-ness, which are security features enabled by decentralization, were critical to these first two unlocks-- - Bitcoin would not be what it is if not for its self-custodial property and censorship resistance. - Ethereum would not have been what it is without ICO and defi summer, which were enabled by permissionless smart contracts. Over the last few years, crypto got sidetracked and started to value decentralization, security, and verifiability without specific capability unlocks. Examples: decentralization theater (early forms of onchain AI), adding verifiability without specific purpose ("zk-everything"). I believe our the industry is finally exiting this sidetrack. Example: If an app requires real-time censorship resistance, then decentralize. No need for real-time censorship resistance? Let's use a centralized sequencer but offer self-custodial guarantee via validity proofs. Refocus on capability; make crypto great again. (Image credit ChatGPT 4o)

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Dee Hock on the founding of Visa in his work "Chaordic Organization". Visa was perhaps the first successful case of a permissionless platform with decentralized governance and ownership. Many lessons to be learned here half a century later for crypto networks.

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prediction: the word "dapp" will die just apps or onchain apps

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