Nick Tomaino explains what stable coins are and introduces the dai project.
The pitch: "Stablecoins are one of the highest convexity opportunities in crypto. They aim to become global, fiat-free, digital cash, so the total addressable market (TAM) is simply that of all the money in the world: ~$90T."
Vitalik Buterin analyses token/appcoin valuations.
The post explains the velocity problem by providing an in-depth example and examines mechanisms that reduce velocity ("Introduce a profit-share (or buy-and-burn) mechanism", "Build staking functions into the protocol that lock up the asset", "Balanced burn-and-mint mechanics", "Gamification to encourage holding", "Become a store of value").
"This post discusses governance and its impact on network effects and why both relate to how value flows and is captured within tokenized blockchain networks."
Vitalik Buterin discusses some of the challenges of blockchain governance (Low Voter Participation, Game-Theoretic Attacks, Non-Representativeness, Centralization, Digital Constitutions).
You can believe both that crypto is full of delusional utopian lunatics saying stuff that’ll never happen and that it’s a profound technology that will change the world. That’s what talking about the internet was like in 1994.
The article describes which of tokens will turn out to be valuable.
"The purpose of this post is to introduce the basic concepts of mechanism design, and give a taste for their usefulness in the cryptocurrency world. If you’re working on a blockchain protocol or application, this will ideally provide you with some introductory resources for accessing the literature of mechanism design."
The Token Classification Framework: A multi-dimensional tool for understanding and classifying crypto tokens.
A really good, ready-to-use tool for accessing, understanding and classifying cryptographic tokens. A "framework that a) reflects the various existing token types, b) allows to classify and analyze tokens in various relevant dimensions, and c) fosters a better, nuanced understanding of crypto tokens."
The contrarian, thoughtful piece on token investing.
Blockchain/crypto surge reminds me a lot of the rise of deep learning. Luddites whining that its all BS, jokers that don’t understand and can’t execute piling on, but in the end, the noise is there for a reason — interesting concepts and real results that merit investigation.
The analysis of the two generals problem "also known as the coordination problem. In blockchains we call it the consensus problem. In the financial cryptography world, it’s the double spend problem, and in databases, atomicity."
Vitalik Buterin on cons of proof of work and pros of proof of stake.