The L1 Wars: SOL, AVAX, NEAR | 15 Jan 2022

Furthermore, smart contract security is still an issue that needs to be resolved on a technical level. More sophisticated contractual clauses need to be implemented to make smart contracts compliant with legal contracts, including decentralized dispute settlement mechanisms. While such developments might take more time to mature, some interesting d... See more

This is the price of decentralization. This investor would need to keep paying these decentralized and independent operators if that’s what’s required to keep the REV coming in. In reality, this is a very difficult number to assess. What is the marginal value provided by additional network operators vs. the marginal cost added, and when does that s... See more

The coding marathon resulted in proof of history, which Yakovenko has described as a clock for the blockchain. It allowed Solana to be superfast, time-stamping transactions as they happen. Coupled with proof of stake, it creates a faster, more efficient network than Etherum’s energy-intensive proof of work.

However, L1 settlement alone is an incomplete picture of what the rollup-centric roadmap aims to accomplish. Ethereum also serves as an affordable settlement and DA layer for rollups. I see rollups (and their corresponding rollup platform à la Optimism Superchain and Arbitrum Orbit) as independent fiefdoms. Each platform will compete to give users ... See more