The author debunks several Crypto-Keynesian fallacies: #1: Aggregate Numbers Tell an Accurate Story; #2: Centrally Designed Systems Work Better than Organic Bottom-Up Reality-Tested Systems; #3: Everyone Will Do Things Exactly As Expected.
The really thorough, lengthy summary of cryptocurrencies, blockchain and decentralization in the context of the financial system.
"Smart contract security problems pose a serious threat to token sale projects. Not auditing smart contracts for security flaws before deploying might come at a high cost to investors and the project team. Considering the amount of funds that can be lost if your code is hacked, the security audit should be taken not as expenditures but as an investment."
"Instead, in this essay I’ll propose a thought experiment in which a dapp steals value from the protocol that its built on. This is categorically separate from Joel’s fat protocols thesis: it doesn’t make sense to argue that Coinbase somehow steals value from Bitcoin or Ethereum."
"In this piece we’ll cover the latest experimentation and research in four areas of the privacy landscape: 1) privacy coins, 2) smart contract privacy, 3) privacy infrastructure, and 4) privacy research."
"There are hardly any other cryptocurrencies with a rivalry as tense as Ethereum and EOS. Coming in as the number one and number two decentralized app (dapp) platforms by market cap size, both cryptocurrencies polarize crypto enthusiasts as to their preference."
"A new platform called Ekiden solves these major problems by a) decoupling smart contract execution from the underlying state consensus protocol to achieve scalability and b) using hardware support, in particular, Trusted Execution Environments (TEEs) to provide privacy to the execution layer. Ekiden demonstrates superior performance and privacy results in comparison to current smart contract blockchains (e.g. Ethereum)."
"If protocols anticipate this challenge, and account for the desire to provide a path for talented, interested contributors to capture value through their contributions, without having to purchase a token directly, this can result in healthy governance features that allow the protocol to grow and thrive over time, reshuffling ownership towards those who are contributing the most on a continuous basis. Inflation funding is such a mechanism, and this post will share an overview of the concept as well as some observations of inflation funding in practice on live protocols."
"FOMO3D is a blockchain game that currently has $12 million in ETH at stake, with all of it locked up in a very bizarre-looking set of rules. But upon closer inspection, the rules aren’t so strange. In fact, it turns out to resemble a scaled-up version of a classic game in behavioral game theory. They teach it at Harvard Business School."
"In this article, I will try to simply explain the main differences between Proof of Work vs. Proof of Stake, and provide a definition of mining, or the process where new digital currencies are released through the network."
"Archaeologists see similarities between giant coins carved from stone and cryptocurrencies"