In the last year, L2s exploded in growth, now representing +150% of Ethereum's daily active addresses
But, not all L2s are growing equally, and many see inflated numbers due to airdrop farmers (& sybils)
So, how do we identify which ecosystems are genuinely gaining traction? 👇
A few things about crypto:
1. Crypto is a social technology, not a regular technology - it’s more like the invention of the nation state or the joint stock company and less like invention of the toaster or television
2. Bitcoin was always be important, but it won’t always be the biggest - it’s missing the feature of programmable blockspace and will thus be overtaken as the calculator was overtaken by the PC (but we still have calculators!)
3. Programmable blockchains are important because they allows us to do more than send/receive onchain - we can trade, lend, borrow, mint, onchain - many assets not just one - to replace the banking system and go bankless we’ll need all the verbs
4. Cryptography is the deep magic that powers crypto and is deeply revolutionary - with encryption a poor man can defend himself against the resources of an entire nation state - power to the people!
5. Decentralization is a holy word in crypto but it’s not a benefit - “corruption resistance” is the benefit we get from decentralization and the reason it’s vital - if we get enough decentralization we’ll have an incorruptible money system open and accessible to all
6. Blockchains sell blocks - both the space in these blocks and the ordering. - in the end, the profit of these sales (sales less issuance) is what makes their underlying currency valuable
7. A small set of blockchain currencies will gain a special kind of status as “money” - this monetary premium is won over decades - only the most decentralized chains can earn this - BTC and ETH have a strong lead
8 Every “layer 1” blockchain - aka a chain that fully secures itself - is fighting for monetary premium against the other chains whether it’s supporters admit it or not
9. Every “layer 2” blockchain - aka a chain that pays another chain for security - is a just a value-added reseller of layer 1 blocks - some of these will be very valuable
10. “The internet of value” is my favorite way to describe Ethereum but “property rights layer of the internet” is a close second - most people won’t care about grandiose statements like these, they’ll need to see the apps
11. While the demagogues and scammers in crypto will fail you, crypto itself is awesome and the values that back this movement will change the world - find the signal through the noise.
Hi, my name is @Dtefrev, and I’m a $MEME (@Memecoin) farmer at @Memeland.
On my honor, I promise that I will do my best to do my duty to my own bag, and to farm #MEMEPOINTS at all times.
It ain’t much, but it’s honest work. 🧑🌾
We're having @VivekGRamaswamy on the podcast to lay out his crypto policy.
Some will be pleased, some will be pissed.
I want to remind everyone that we have no allegiance to team red or team blue. The only war to win is the war for digital rights.
Democrat? Fine.
Republican? Fine.
Show us how you're going to protect the rights of every citizen to hold and transact with crypto.
Then we'll have something to talk about.
1 in 5 Americans own crypto.
60% are Gen Z and Millennial.
To the politicians of any party - if your political platform doesn't have a sensible policy on crypto, you better get one.
To those content to ignore digital rights or actively fight against them, good luck!
Misfits, meet the ALL NEW Q2! 🥰🐸
When we say — a world of “FUN” “CHARACTERS”, we mean it.
Driven by nostalgia, passion & an urgent need to bring back fun, original stories & characters for the community.
The team had a lot of fun redesigning our favourite creation (& also teasing you in the process😋)
The Adventures of Q2 & Kiwi 🐸 are now yours. 🫶🫰🍄
@loopify@tryPluid gm!
Dtefrev here, have been in web3 since 30 mth, learning through NFTs, Gaming, DeFi. Have been writing deep dives for rekt guy & wizard
With a journalism degree, got experience in film making, content, researching.
My conviction in decentralisation has never been stronger
Some Kevin The Adventurer (https://t.co/dxl9B4khxD) stats 72hrs post launch:
> 100k Game Sessions
> 3.1million total jumps (aka flaps)
~ 1,500 hours played
> 1.5k DAU growing day on day
Not bad for @Pixelmon ‘s first hyper casual game.
I watch anime in the morning, in the afternoon, in the niight.
I buy nfts of anime brands.
I support nft anime brands.
I represent nft anime brands.
If you want to do dope anime shit in the space, i'm you guy🫡
The @Pixelmon team came to me a couple weeks ago and asked me to try to hack their game.
So I did.
I found two critical issues and worked with the team to get them fixed before launch. I'm always happy to work with teams to make sure their apps are secure.
THE BASICS WORK IN INDIA
Rohit is right about India.
1) First, the basic daily loop of a tech worker is now easy in India. Wake up, hit the gym, open laptop, get coffee, call an Uber, hang out with some friends, etc — that’s all there. Reliable power, internet, air conditioning, roads, airport…all the basics are present. Sounds trivial, but it’s not — a lot of infrastructure has to come together for that to be true. And it wasn’t as present a decade ago.
2) Second, the public goods are also there. Unlike SF or LA, the streets aren’t filled with people that NGOs have addicted to drugs. In fact, they’re cleaner every day, and the transit infrastructure is improving too. The crime rates are lower, the community spirit is stronger, people are more positive and optimistic. You don’t see all this in the numbers, but it matters.
3) India is fundamentally an ascending world country. It’s not perfect of course. I don’t think pollution in South India is actually that big a deal, but the paperwork in particular is still something that needs improvement.
4) Still, as a launchpad for the world? India is absolutely there now. The Indian engineer doesn’t 10X their standard of living by leaving, as they did 40-50 years ago.
5) Sure, the most ambitious may still go diasporic until GIFT City[1] becomes as business-friendly as Singapore or Cayman. But the baseline has *vastly* improved and that changes everything.
[1]: https://t.co/O4XCpN3DcO