Web3 - Revision history

RobertBushman at 19:24, 12 June 2022

2022-06-12T19:24:51Z

← Older revision		Revision as of 19:24, 12 June 2022
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	A DAO (Decentralized Autonomous Organization) is an organization whose operations are defined by smart contracts. Instead of signing a letter of intent, punching a time clock, and cashing a paycheck, the DAO publishes smart contracts that you can fulfill, which results in a transfer of cryptocurrency.		A DAO (Decentralized Autonomous Organization) is an organization whose operations are defined by smart contracts. Instead of signing a letter of intent, punching a time clock, and cashing a paycheck, the DAO publishes smart contracts that you can fulfill, which results in a transfer of cryptocurrency.

			= Log =

			== 6 Months Later ==

			The preceding was written on 2021-12-29 and -31. It is now 2022-06-12.

			Work is progressing well. I've launched [https://wiki.deadmandao.com/ DeadmanDAO], we've done a few bounties and grants, and we're about to trial a new kind of NFT/DeFi.

			In "Backstory" above, I said, "It's the beginning of the Roaring Twenties and there is at least one 1929 coming." At that time, Ethereum was a 3500 and BTC was at 43,000. BTC is now at 27,612 and ETH is at 1506. Nobody knows if this is the bottom, nor when we will be significantly up from here. I'm buying.

RobertBushman: /* Cryptocurrency */

2021-12-31T03:47:07Z

Cryptocurrency

← Older revision		Revision as of 03:47, 31 December 2021
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	In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.		In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.

			The Monetary Supply Effect of Solana (right now) is to increase the monetary supply. It is not great as a store of wealth, so people don't hold a great deal of it, meaning it has low drag on M1. It is cost efficient per transaction, which increases velocity of currency which increases M3.

	=== Solana ===		=== Solana ===

RobertBushman: /* Solana */

2021-12-31T03:44:54Z

Solana

← Older revision		Revision as of 03:44, 31 December 2021
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	=== Solana ===		=== Solana ===

			* Low fee per transaction, Proof of Stake + Proof of History, Run Your Own Validator
	* Running a Validator: https://docs.solana.com/running-validator/validator-start		* Running a Validator: https://docs.solana.com/running-validator/validator-start
	* Full Stack Solana Development: https://dev.to/dabit3/the-complete-guide-to-full-stack-solana-development-with-react-anchor-rust-and-phantom-3291		* Full Stack Solana Development: https://dev.to/dabit3/the-complete-guide-to-full-stack-solana-development-with-react-anchor-rust-and-phantom-3291

RobertBushman: /* Solana */

2021-12-31T03:38:48Z

Solana

← Older revision		Revision as of 03:38, 31 December 2021
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	* Running a Validator: https://docs.solana.com/running-validator/validator-start		* Running a Validator: https://docs.solana.com/running-validator/validator-start
			* Full Stack Solana Development: https://dev.to/dabit3/the-complete-guide-to-full-stack-solana-development-with-react-anchor-rust-and-phantom-3291

	== NFT ==		== NFT ==

RobertBushman: /* Cryptocurrency */

2021-12-31T03:32:49Z

Cryptocurrency

← Older revision		Revision as of 03:32, 31 December 2021
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	In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.		In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.

			=== Solana ===

			* Running a Validator: https://docs.solana.com/running-validator/validator-start

	== NFT ==		== NFT ==

RobertBushman: /* Cryptocurrency */

2021-12-31T01:39:12Z

Cryptocurrency

← Older revision		Revision as of 01:39, 31 December 2021
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	Bitcoin is the canonical example. Other currencies are getting more cost efficient, which is closely related to the environmental problem with Bitcoin, Ethereum, and other Proof of Work currencies.		Bitcoin is the canonical example. Other currencies are getting more cost efficient, which is closely related to the environmental problem with Bitcoin, Ethereum, and other Proof of Work currencies.

	The main alternative is Proof of Stake, which is employed by [[https://en.wikipedia.org/wiki/Cardano_(blockchain_platform) Cardano]]. A newer currency with still lower fees than Cardano is [[https://solana.com/ Solana]], which mixes Proof of Stake and [[https://solana.com/news/proof-of-history---a-clock-for-blockchain Proof of History]] (I haven't grokked it yet).		The main alternative is Proof of Stake, which is employed by [https://en.wikipedia.org/wiki/Cardano_(blockchain_platform) Cardano]. A newer currency with still lower fees than Cardano is [https://solana.com/ Solana], which mixes Proof of Stake and [https://solana.com/news/proof-of-history---a-clock-for-blockchain Proof of History] (I haven't grokked it yet).

	In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.		In short, cryptocurrency is decentralized money that is currently pretty expensive to transact but getting cheaper. It is questionable as a stable store of wealth, and is not pervasive enough to be an easy transactional currency - but the lack of dependency on any government opens new possibilities that are only beginning to be explored.

RobertBushman: /* Web3 */

2021-12-31T01:38:49Z

Web3

← Older revision		Revision as of 01:38, 31 December 2021
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	Decentralization is the central theme of Web3, and is otherwise a loose collection of many people's interpretation of what that means. The direction of Web3 is, itself, decentralized.		Decentralization is the central theme of Web3, and is otherwise a loose collection of many people's interpretation of what that means. The direction of Web3 is, itself, decentralized.

	Most of the leaders in the space come from a cryptocurrency background. As such, the blockchain looms large in a lot of their proposed solutions. Some have pointed out that this is a narrow perspective that ignores existing decentralized solutions like Git. Another example is Web3 people flocking to Discord and agitating for it to integrate blockchain - the rather obvious and far simpler solution would be [[https://en.wikipedia.org/wiki/Element.io Element.io]], [[https://en.wikipedia.org/wiki/Jitsi Jitsi]], and [[https://en.wikipedia.org/wiki/Matrix_(communication_protocol) Matrix]] - or even the profoundly decentralized and much more mature [[https://en.wikipedia.org/wiki/Usenet Usenet]].		Most of the leaders in the space come from a cryptocurrency background. As such, the blockchain looms large in a lot of their proposed solutions. Some have pointed out that this is a narrow perspective that ignores existing decentralized solutions like Git. Another example is Web3 people flocking to Discord and agitating for it to integrate blockchain - the rather obvious and far simpler solution would be [https://en.wikipedia.org/wiki/Element.io Element.io], [https://en.wikipedia.org/wiki/Jitsi Jitsi], and [https://en.wikipedia.org/wiki/Matrix_(communication_protocol) Matrix] - or even the profoundly decentralized and much more mature [https://en.wikipedia.org/wiki/Usenet Usenet].

	But I digress. In short the leaders tend to overindex on blockchain, but IMO that leaves space for more clearheaded folks to bring in better solutions. There will be a lot of radical experiments, but there will also be a place for turning the Rube Golberg contraptions into more pragmatic solutions.		But I digress. In short the leaders tend to overindex on blockchain, but IMO that leaves space for more clearheaded folks to bring in better solutions. There will be a lot of radical experiments, but there will also be a place for turning the Rube Golberg contraptions into more pragmatic solutions.

RobertBushman: /* Web3 */

2021-12-31T01:38:15Z

Web3

← Older revision		Revision as of 01:38, 31 December 2021
Line 23:		Line 23:
	Decentralization is the central theme of Web3, and is otherwise a loose collection of many people's interpretation of what that means. The direction of Web3 is, itself, decentralized.		Decentralization is the central theme of Web3, and is otherwise a loose collection of many people's interpretation of what that means. The direction of Web3 is, itself, decentralized.

	Most of the leaders in the space come from a cryptocurrency background. As such, the blockchain looms large in a lot of their proposed solutions. Some have pointed out that this is a narrow perspective that ignores existing decentralized solutions like Git. Another example is Web3 people flocking to Discord and agitating for it to integrate blockchain~~. The~~ rather obvious ~~counterpoint~~ would be [[https://en.wikipedia.org/wiki/Element.io Element.io]], [[https://en.wikipedia.org/wiki/Jitsi Jitsi]], and [[https://en.wikipedia.org/wiki/Matrix_(communication_protocol) Matrix]].		Most of the leaders in the space come from a cryptocurrency background. As such, the blockchain looms large in a lot of their proposed solutions. Some have pointed out that this is a narrow perspective that ignores existing decentralized solutions like Git. Another example is Web3 people flocking to Discord and agitating for it to integrate blockchain - the rather obvious and far simpler solution would be [[https://en.wikipedia.org/wiki/Element.io Element.io]], [[https://en.wikipedia.org/wiki/Jitsi Jitsi]], and [[https://en.wikipedia.org/wiki/Matrix_(communication_protocol) Matrix]] - or even the profoundly decentralized and much more mature [[https://en.wikipedia.org/wiki/Usenet Usenet]].

	But I digress. In short the leaders tend to overindex on blockchain, but IMO that leaves space for more clearheaded folks to bring in better solutions. There will be a lot of radical experiments, but there will also be a place for turning the Rube Golberg contraptions into more pragmatic solutions.		But I digress. In short the leaders tend to overindex on blockchain, but IMO that leaves space for more clearheaded folks to bring in better solutions. There will be a lot of radical experiments, but there will also be a place for turning the Rube Golberg contraptions into more pragmatic solutions.

RobertBushman: /* DAO */

2021-12-31T01:28:45Z

DAO

← Older revision		Revision as of 01:28, 31 December 2021
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	== DAO ==		== DAO ==

			A DAO (Decentralized Autonomous Organization) is an organization whose operations are defined by smart contracts. Instead of signing a letter of intent, punching a time clock, and cashing a paycheck, the DAO publishes smart contracts that you can fulfill, which results in a transfer of cryptocurrency.

RobertBushman: /* NFT */

2021-12-31T01:27:08Z

NFT

← Older revision		Revision as of 01:27, 31 December 2021
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	NFTs are non-fungible. Each token is unique and its value is intrinsically linked to its ID. Transactions involving it are recorded on the blockchain to create a decentralized public record, but they cannot be divided, swapped, or mixed.		NFTs are non-fungible. Each token is unique and its value is intrinsically linked to its ID. Transactions involving it are recorded on the blockchain to create a decentralized public record, but they cannot be divided, swapped, or mixed.

			== Smart Contract ==

			A smart contract is a piece of computer code that is connected to a blockchain. When it is triggered, it autonomously executes pre-defined transactions. For example, you could write a smart-contract that would move cryptocurrency from one account to another depending on which team wins the Superbowl.

	== DAO ==		== DAO ==