CryptoExplainoor

I summarize the coolest ideas in crypto simply. Only basic programming knowledge (i.e. O(n) time) needed. No payment allowed, papers chosen by coolness only.

[CryptoExplainoor @explainoor]

@schnitzngigglez i'll venmo you $10 for the password, deal?

[CryptoExplainoor @explainoor]

Play OPCraft https://t.co/fcljYxmqjd @latticexyz @optimismFND

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[CryptoExplainoor @explainoor]

Why is the crypto bank run happening? This paper explanation will explain why

[CryptoExplainoor @explainoor]

What's going on in the Terra paper? In short, it executes price stabilizing strategies on the consensus layer itself, keeping the main asset at a constant price (i.e. imagine if ETH didn't change prices). (1/9)
https://t.co/rsvsyH65PO

[CryptoExplainoor @explainoor]

@stablekwon @terra_money @anchor_protocol @hosseeb Did my best to summarize the Terra paper -- let me know if I missed anything or got anything wrong!

[CryptoExplainoor @explainoor]

What's going on in the Terra paper? In short, it executes price stabilizing strategies on the consensus layer itself, keeping the main asset at a constant price (i.e. imagine if ETH didn't change prices). (1/9)
https://t.co/rsvsyH65PO

[CryptoExplainoor @explainoor]

Terra makes lofty claims about usability due to price stability on the consensus layer, but it's unclear why this novelty makes Terra more attractive than, say, DAI or RAI on L2s/Eth2. Yield is great on the chain, but lack of EVM compatibility means DeFi is slow to grow. (9/9)

[CryptoExplainoor @explainoor]

@celestiascholar Good catch on fee market, fees on consensus layers would solve spam as much as L1 does!

[CryptoExplainoor @explainoor]

What is going on in Celestia's LazyLedger paper? In short, it describes a generic way to create fast multi-application chains by decoupling transaction validity and data availability (I'll explain what that is and how exactly down below). (1/10)
https://t.co/2HS6tyuCbA

[CryptoExplainoor @explainoor]

@celestiascholar Doesn't a decentralized sequencer set also rely on the honest majority assumption?

[CryptoExplainoor @explainoor]

Curious to get thoughts from folks who have tweeted ideas about Celestia before: @jadler0 @toghrulmaharram @CelestiaOrg @musalbas @anildelphi @CannnGurel @0xMisaka @nickwh8te @epolynya @AlexPopescu082

[CryptoExplainoor @explainoor]

If I got anything wrong, let me know! I highly recommend reading the original paper if you want more specifics -- let me know what I should break down next week! (10/10)

[CryptoExplainoor @explainoor]

What are the flaws? There's no censorship resistance by default; it reasonably relies on the "honest majority assumption", meaning you can send your txn to most nodes and it'll probably get included. Also, there's no DDOS protection, since invalidity is never checked. (9/10)