Just as the internet effectively created a parallel information infrastructure, crypto (sorry cryptographers, the term has officially been co-opted!) will build a parallel financial infrastructure. And, no, it’s not going to happen with private blockchains any more than the internet revolution occurred with intranets.
Remember after the internet how companies were either “internet native” or offline behemoths (publishers, music, and streaming/videos/television)? The same thing’s going to happen here. Old school financial behemoths will either have to adapt, support, and ultimately join this parallel system or fade away.
Over the past several weeks, I have focused on the economics of the spec from the perspective of a rational validator — both small scale and large scale.This piece will focus on the net yield of Ethereum 2.0 at the proposed spec from the viewpoint of a small scale validator. I will address the economics of a large scale validator in my next post. I hope that this preliminary analysis will lead to healthy discussions around the spec and inform further analysis across the blockchain community.
Last week’s Ethereum Core Dev Call concluded with renewed discussion of ProgPow, a proposed change to the Ethereum hashing algorithm, Ethash, which would narrow the performance gap between generalized and specialized hardware by as much as 90%.
Keepers — the term to generally define the utility-layer actors on P2P networks who contribute key resources and behaviors in order to achieve a cryptoeconomic-Nash-equilibrium — are a fundamental building block and source of great potential for any crypto-network. See my previous post on Keepers for an overview. Jake Brukhman calls the term “Generalized Mining”, Chris Burniske refers to Keepers as “Productive Capital”. In Bitcoin and Ethereum Keepers are referred to as “miners”, that confirm transactions and maintain network security. But Keepers can offer a much broader array of services and resources to the users of a P2P crypto-network.
Two privacy-oriented currencies based on the MimbleWimble protocol are pushing out January 2019 launches.
Both make a number of trade-offs in design decisions, with Grin focusing on a bottom-up “fair launch” and BEAM taking the route of Zcash and other projects in its formal foundation structure.
Constantinople implements five Ethereum Improvement Proposals (EIPs): EIP-145, EIP-1014, EIP-1052, EIP-1234 and EIP-1283. I was curious to understand any potential security implications/applications of these updates, which is what this article is about.