Shinji Satoshi: The best quality article of 5 cryptocurrencies is selected every day.
Today's content includes:
1 PoolTogether and other funding lock application funding models
2 blockchain is the decrement of Bitcoin
3 The next wave of DeFi users: user experience research
4 train, aircraft and network upgrades – Ethereum 1.x regular release rhythm
5 encryption ideas, we are building the same system
PoolTogether and other funds lock application funding models
PoolTogether is a "lossless lottery". It works like a lottery ticket, but if you don't win, you will return the money. The amount of the bet will be locked and the interest will be earned by borrowing from the Compound as a bonus. PoolTogether will withdraw 10% of the accrued interest and reserve it as a reserve in the Compound for the next round of bonuses. The current Dai reserve is currently 51,000 Dai. The article is written by David Hoffman. He is now a big milkmaker in Ethereum. The same is true for this article. The final conclusion is that "Ethereum will always rise", but the PoolTogether research and design introduced in it is quite interesting. .
PoolTogether's Dai Reserve can be conceptualized as an application benefit. The value of PoolTogether is the value of the Dai reserve, including the size of the future Dai reserve. PoolTogether issues tokens. Call it "PTG." The function of PTG is to own the Pool Reserve's Dai reserve. If there are 1 million PTGs, destroying 1 PTG allows you to extract 1 / 1,000,000 of the Dai reserve.
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1,000,000 PTGs were issued and sold. All the funds in the sale are added to the Dai reserve. The Dai reserve is permanently lent to Compound. Assuming the price of PTG is $1, then the value of PTG is the value of cDAI: the value of the Dai reserve pool plus the interest it generates from Compound.
The PTG representative, like his lottery, is "lossless tokens." Since Dai in the sale of tokens will support the value of the token, the PTG purchaser will not actually lose the funds it has paid. If for some reason they want to take back their own Dai, simply destroy their PTG and take back Dai, which is stored in the reserve, plus the interest and income generated in the reserve.
About Dai and Ethereum
PoolTogether is a large Dai game. The goal of the PoolTogether app is to capture as many Dai as possible. All Dais added to the protected area will effectively be in their final resting position. and so:
- New Dai must be minted to replace the sleeping Dai on the market
- More Ether coins must be locked in MakerDAO to provide this Dai.
- The supply of Ethereum in the secondary market has decreased.
- Ethereum prices have risen.
Full text link https://medium.com/@TrustlessState/funding-model-for-pooltogether-and-other-money-lockup-apps-86b928900efa
Blockchain is a derogatory word for bitcoin (centralized word)
Regarding Mark Zuckerberg’s hearing at the US Congress, “If we don’t innovate, there is no guarantee that we can expand the same rules and predict this impact on a global scale.”
Congressman Brad Sherman, who argued with Zuckerberg, proved to be one of the most educated legislators for potential bitcoin potential. As a member of Congress, he and his colleagues represent the world's largest economy, and it maintains this position by controlling the benefits of the reserve currency.
Increasing degrees of freedom is the ultimate goal of US legislators. It may be time to prove it now, refusing to play this escalating control and influence game. The only winning move for ordinary civil liberties involves Congress giving up this power and allowing Facebook to create its own currency within the established legislative framework, while supporting the licensed network.
The term "blockchain" has been intertwined with "bitcoin" so that many people swap the two. While this may be incorrect, it does not change the basic concept of using blockchain for financial freedom over the past decade. It is likely to act as a Trojan horse, deceiving those who seek to adopt the underlying technology to gain their own interests.
Millions of people, and eventually billions of people are using and becoming more familiar with blockchain technology. Imagine how many Bitcoin and unlicensed blockchain developers were trained unconsciously when creating and maintaining a centralized blockchain solution.
What prevents the "punk" from being put back into "encrypted punk"? What is the promotion of "punk" back to "encrypted punk"?
Full text link: https://rhythmofbitcoin.substack.com/p/blockchain-is-the-censored-word-for
The next wave of DeFi users: user experience research
This is a market research report by Gossamer. They conducted 21 qualitative interviews and interviewed various cryptocurrency users to understand their financial habits and their views on DeFi. The main highlights of the survey report are as follows:
Most people are exposed to cryptocurrencies as a form of hype, and USDT's name recognition ability is significantly higher than USDC and Dai.
The Defi project like Compound is not directly related to the performance of the stock market. This opened the door for DeFi as a way to diversify the portfolio.
Many participants liked the idea that DeFi canceled the bank as a middleman. But the bigger reason is that this can help users better understand the source of their higher returns.
Regarding security, both Coinbase and Gemini have insurance, but cannot describe the specific details of the policy. Decentralized smart contract insurance is a new trend.
Full text link: https://medium.com/usegossamer/the-next-wave-of-defi-users-a-ux-research-study-f20f180c23a1
Train, aircraft and network upgrades – Ethereum 1.x regular release rhythm
Author Tim Beiko is a product manager at ConsenSys, and his article is about his development and history of Ethereum 1.x.
A brief summary of the article on the removal of the spit is to say:
Based on some suggestions from the community over the past year, we have proposed a new way to coordinate Ethereum network upgrades. Specifically, we believe that:
- Upgrades should be conducted twice a year to make the community predictable;
- The upgrade should only include the EIPs that are ready for delivery, and all operations that are still in progress should be moved to the next upgrade without delaying the current upgrade.
- The EIP should be developed by the working group in an independent manner and should only be considered for inclusion in the upgrade after completion;
- The EIP and the working group should have a champion leader, which is the community's main point of contact for the EIP and acts as the coordinator of the EIP.
Full text link: https://medium.com/@timbeiko/train-planes-network-upgrades-6edfc9f6b7dd
Encryption thinking, we are building the same system
This is a speech by Taylor Monahan at the Osaka Blockchain Week. It is about some recent phenomena and some thoughts on the development of blockchain.
The early Internet had many similarities with the early blockchain ecosystem, but history would not completely repeat itself. However, it will rhyme.
When most of us enter this field, we are doing this, and we hope that we can participate in building a better future. We want to be part of the revolution. We want to fight the old guards (governments) and the new guards (Facebook). We want to build something with unlimited potential.
However, it is likely that we are building the same system as the current one. In fact, this new system is actually worse than our existing system.
We are on the path of a more focused, more intermediary, more risky and more asymmetric information.
Full text link: https://medium.com/mycrypto/crypto-ideologies-part-1-were-on-our-way-to-building-the-same-system-6138a221c870