@Infochain__

Infochain provides institutions with bleeding-edge first-principles crypto research.

Joined February 2022
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There is no trustless-ness, only trust minimization. #Blockchains #Bitcoin #Ethereum
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Blockchains and AI are complementary technologies; And will be the most relevant in the upcoming decade. With the massive improvements in AI, AI-generated content will become indistinguishable from original one, which creates a far greater authenticity problem. This requires a robust and sound solution; digital signature schemes and a trustworthy source of information (permissionless blockchains). This of course carries benefits such as the eradication of black mail, as no content – even if authentic – would be considered as such without the concerned party's signature.
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The next two decades will revolve around blockchains and AI.
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Money is still the ultimate use case. #blockchain
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#Money is arguably the greatest invention humanity has ever produced. Money has lowered our time preference significantly, enabled economic calculations, and facilitated complex production processes.
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Among the many problems of centralized high-TPS chains is the lack of network effects on the node level, which makes them quite fragile.
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A new chain with a sufficient budget can simply boot up few powerful nodes and incentivize applications and users to move to the new chain.
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A fundamental component of public #blockchains – and secure Internet communications in general – is the ability to trustless-ly verify authenticity through digital signature schemes.
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Digital signature schemes provide excellent guarantees; as concerned entities can be convinced that some data is authentic only by running a trivial computation on their hardware.
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This is known as costless or trustless verification of authenticity; as entities only require the public key of their counter-party in order to verify signatures.
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To this day, no smart contracts chain has implemented a viable solution to the #blockchain scalability problem. All "scalable" chains sacrifice massively on #security, or #decentralization, or both.
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#Money is arguably the greatest invention humanity has ever produced. Money has lowered our time preference significantly, enabled economic calculations, and facilitated complex production processes.
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To this day, no smart contracts chain has implemented a viable solution to the #blockchain scalability problem. All "scalable" chains sacrifice massively on #security, or #decentralization, or both.
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Algorithmic #stablecoins will become a functional and prominent part of the ecosystem. Preferably tracking a consumer price index rather than a centralized fiat currency.
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The relative ease of recovering from majority attacks in #PoS-based systems is often under-appreciated — especially by Bitcoiners. This property could be even more important than the energy efficiency of such systems.
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The value proposition of #blockchains is social scalability.
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Despite the numerous new layer-1 blockchains, #Ethereum remains at the bleeding-edge of research and innovation.
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There is no trustless-ness, only trust minimization. #Blockchains #Bitcoin #Ethereum
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#Avalanche devs have framed their consensus protocol as a scalability solution. The consensus is novel but has nothing to do with throughput.
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What would happen to #Bitcoin in the case of a majority attack? 1/
Chain Fork

ALT Chain Fork

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Since the attacker was able to force their chain on the network, they would also be able to censor transactions (choose which transactions would be included in the blockchain). 11/
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Bitcoin has never suffered from a majority attack; the hash rate is very large, and would require billions of dollars (hardware and electricity costs) to carry out a majority attack on the network. 12/
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