Yesterday we released an Analyst Insight, comparing two important protocols in the derivatives space: $GMX and $SNX.
We already had a Project Breakdown for @GMX_IO. Today we released a 130-page report on @synthetix.
Here are some highlights about Synthetix 🧵
Important dates for the industry coming up, MiCA has now been published in the official journal of the EU: https://t.co/JlXR89CYnQ
This means crypto businesses now have firm timelines to implement and be compliant with MiCA's requirements. Stablecoin rules apply from June 30, 2024 and rules for exchanges from December 30, 2024.
We're already preparing and will be ready. Exciting oppportunities ahead for compliant businesses in Europe.
April PoEM Testing Updates:
➡️Globally distributed testing environment
➡️Real-world latency
➡️Running for days at a time
Results:
➡️Perpetual consensus
➡️~275 TPS per execution shard
➡️Sustained coordination of 9 shards
Read more in the Quai blog👇
https://t.co/HjxoKPvo85
"In a fully asynchronous message-passing distributed system, in which at least one process may have a crash failure, it has been proven in the famous 1985 FLP impossibility result by Fischer, Lynch and Paterson that a deterministic algorithm for achieving consensus is impossible."
https://t.co/P4aTeD0CMq
@QuaiNetwork's novel Proof-of-Entropy-Minima algorithm practically breaks the FLP impossibility theorem. The only instance in which PoEM can not offer deterministic head selection is in the case of a near-simultaneous hash collision. When using a 2^256 bit field, two machines simultaneously finding the same hash while mining becomes an extreme statistical improbability.
When @mechanikalk says that PoEM alters the concept of consensus entirely, he means it. 👀
Cross-chain transactions in @QuaiNetwork have been designed to only rely upon the same mechanism used for block production: mining. ⛏️
Learn more in the docs about how cross-chain transactions are processed in Quai👇
https://t.co/fUTQ1YQxwS
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless."
-Satoshi Nakamoto
The world is still waiting on a decentralized, secure, and scalable digital currency.
"If we want to scale, we need to change [mining] incentives so that we not only incentivize miners to process and secure the blockchain, but also incentivize them to figure out how to topologically self-organize."
- Quai co-founder @mechanikalk
Zero-time consensus is required for infinite execution sharding.
Quai's PoEM algorithm is the first and only zero-time consensus mechanism.
Proof-of-Work needs time to resolve uncles. Proof-of-Stake needs time to collect signatures.
Proof-of-Entropy-Minima is instantaneous.⚡
Thank you to @CoinDesk for hosting #Consensus2023 (and to everyone who came to the Quai closing party)!
Check out some photos from the @QuaiNetwork booth taken at this week's conference 👀 📸
This month's @QuaiNetwork developer roundup is now live on the Quai Blog!
🛠️PoEM Implementation
📈Throughput/stability testing
🕺#Consensus2023
🎓Quai University calls
🎉150,000 Twitter followers!
Read more👇
https://t.co/HjxoKPvo85
Quai Network Presents: The Official #Consensus2023 Closing Party is starting TONIGHT at 8pm CST! 🕺
See you soon, @consensus2023!
https://t.co/Qd3RoORel4
"[PoEM] is how we get perpetually perfect consensus. And that's the only way you can actually solve this problem of coordinating multiple chains with multiple asynchronous contexts."
- Quai co-founder @mechanikalk on how PoEM offers "perpetual consensus"
A recording of Quai University Call #5 hosted by Quai co-founder @mechanikalk has been posted on YouTube. 📽️
Learn more about Quai Network's architecture, the new PoEM consensus mechanism, and more!👇
https://t.co/mL2z6Bwpkf
The official #Consensus2023 closing party presented by Quai Network is starting TOMORROW at 8pm CST at #superstitionATX!
If you haven't already, make sure to grab your ticket!👇
https://t.co/7oSqNDohIv