Eudoxus of Cryptoicus

web2/3 dev, infosec

[Eudoxus of Cryptoicus @Eudoxus_]

@100trillionUSD Read your articles and I really like your model. I’m working on some software, a component of which requires a “stable” BTCUSD model—and from the looks of it yours is much better than mine. Got some time to spare? I’d like to ask you a few questions

[Eudoxus of Cryptoicus @Eudoxus_]

@JasonYanowitz I agree 100%, however I would first settle for bridges being secure. Seems like a week doesn’t go by without at least one bridge being compromised.

[nader dabit @dabit3]

If it costs a penny or more to transact it’s too expensive, at least that’s what we should be aiming for.

[Eudoxus of Cryptoicus @Eudoxus_]

As a dev, I can’t say I am too mad about $FTM price. It remains one of the cheapest and most efficient ways to deploy and interact with web3 applications, and for that it will always have utility. No need for it to be a speculative store of value like #Bitcoin

[Eudoxus of Cryptoicus @Eudoxus_]

@block_beat_ @PARLT47 @MetaMarvin_ @punk6529 True, but we’re talking about Bitcoin here

[Eudoxus of Cryptoicus @Eudoxus_]

@block_beat_ @PARLT47 @MetaMarvin_ @punk6529 Miners hold each other accountable. Running a node allows you to communicate with the BTC network directly, rather than going through a third party.

[Eudoxus of Cryptoicus @Eudoxus_]

The latter option would potentially look like shipping a binary (or source code itself) using a p2p system like ipfs or something of the like. Distributing the requisite information on how to find the client to begin with (ipfs hash, for example), introduces an analogous problem

[Eudoxus of Cryptoicus @Eudoxus_]

Until every user runs a full node and interacts with the blockchain directly, the advantages of what web3 offers are lost. Simply, you lose many of the advantages of having a decentralized ledger/state machine if you're still using centralized services to interact with it.

[Eudoxus of Cryptoicus @Eudoxus_]

I can see two approaches, either redesign existing web3 apps to support execution locally as thin clients (needs to be configurable to use arbitrary RPC nodes to fulfill app requests) or to make the web3 client available without access to a particular website.

[Eudoxus of Cryptoicus @Eudoxus_]

@achinga_chris @LearnWeb3DAO -1. Screenshots and Captures

[Eudoxus of Cryptoicus @Eudoxus_]

@mrblockchaindev Your client side app would still have to communicate with a full node to r/w to a blockchain, and since it’s not talking to a “web backend” then you’d have to write a UI thick client to talk directly with the full node process. That sound about right?

[Eudoxus of Cryptoicus @Eudoxus_]

@trent_vanepps @jimchang @StatefulWorks D word bring dividends?

[Eudoxus of Cryptoicus @Eudoxus_]

@4n6lady File level encryption disconnected from identity management systems plus segregated backups. Ransomware is less scary when the data is unintelligible to the attacker and backups aren’t affected.

[Eudoxus of Cryptoicus @Eudoxus_]

@4n6lady ngrok, great way to trick an application into communicating with yours

[Eudoxus of Cryptoicus @Eudoxus_]

@gladstein The fact that a Bank did the research seems like a clear conflict of interest, or am I wrong?

[The Web3 Rookie ✩ @Web3Rookie]

Peer-to-peer is a network structure in which all members have equal privileges and obligations toward one another.

No central coordinators can change the rules of the network and there is no single point of failure that can compromise the network.

[Eudoxus of Cryptoicus @Eudoxus_]

@juanaxyz00 @Medium I’m inclined to agree, although there’s always going to be a demand for consumer protections given the frequency of rug pulls and other exploitive behavior. Hopefully the free market develops its own solutions without oversight.

[Eudoxus of Cryptoicus @Eudoxus_]

@juanaxyz00 @Medium The world has tried a Laissez-Faire economic system before, but that consistently transitioned to an interventionist one. A global economy in the age of web3 is certainly different than that of the industrial revolution, so my question is: what amt of govt oversight is necessary?