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Knowledge Protocol. Daily curated links from the space of blockchain, bitcoin, tokens, cryptocurrencies and protocols. No news, no bullshit, deep knowledge only.


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The Lightning Network

"In this post, we’ll explore the Lightning Network (LN): what it is, how it works, what makes it special, what tradeoffs it makes and some of the weaknesses it has."

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4 eras of blockchain computing: degrees of composability

"A traditional business is generally best positioned setting up shop in a location with existing residents, utilities, law, security, and a vibrant market economy. Similarly, developers benefit from building on top of shared resources such as an existing user base, data, security and running code."

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The authoritative guide to Blockchain Sharding, part 1

"This blog post is the first in the series of two on Blockchain Sharding. After reading this blog post you will know why Sharding is the path to the future-proof blockchain protocols, how Sharding is being built today, what challenges all the sharded protocols face, and how such challenges can be addressed"

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Uniswap — A Unique Exchange

"Uniswap’s unique architecture sheds the concept of a limit order book entirely. Strangely, market makers no longer specify price when providing liquidity. Instead, they merely supply the funds and Uniswap takes cares of the rest."

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The Four Horsemen of Centralization

"What does it mean to say that a cryptonetwork is decentralized?"

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On bonding curves and charitable giving

"Charitable giving can have a huge impact on causes and organisations we support. It is estimated that in 2017, $410B was given to charitable causes. However, how much of this comes from large philanthropy efforts (aka Bill & Melinda Gates foundation) vs the collective effort of individual giving?"

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An Honest Explanation of Price, Hashrate & Bitcoin Mining Network Dynamics

"This first is part ‘TL;DR’; part commentary on recent events; and part in-depth explanation of terms, methodology and the concept of Bitcoin creation costs."

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Confidential transactions have arrived, a dive into the AZTEC Protocol

"Transaction privacy is a fundamental requirement for many kinds of financial services, and the inability to provide this privacy has prevented Ethereum from providing compelling alternatives to traditional financial instruments."

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On-Chain versus Off-Chain Computation, Turing Completeness and Zero Knowledge Proofs

"I have been skeptical about Turing complete on chain computation for a long time. Many early proponents took the position that there is no issue because a mechanism such as Ethereum’s gas limits how long a computation can run."

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Public Key Cryptography — A Comprehensive Guide

"In this post we will explore a concept that plays a foundational role in ensuring information and computer security — Public Key Cryptography. Since this fascinating idea is the heart of blockchain technology, we will dive into its history, grasp how it works and examine the practical applications in the context of blockchains."

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Token distribution in perspective: Livepeer’s merkle mine not as successful as portrayed

"Token generation & distribution has always been a top concern for anyone seeking to establish truly decentralized networks. We’ve seen many methods attempted, but it remains quite challenging to distribute tokens fairly to real users (not speculators) while avoiding concentration of wealth."

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Blockchains are not companies

"This post mainly addresses blockchain governance. It was written mainly with blockchains in mind rather than blockchain based protocols. However, points made can be applied to both."

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Cryptocurrencies are money, not equity

"Developer incentivization and the power of holders"

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Cryptonetworks are not Companies

"What the crypto market vaguely understood, though could not fully articulate, is that the prices being paid were for emerging economies. Emerging economies using a protocol in place of the government, specializing in a single (digital) service, and capable of global scale from inception. The good ones, at least."

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The future of organizations

"We believe that blockchain technologies and cryptocurrencies are, at the core, a new way of organizing and unlocking human potential. Humans have always organized themselves in relatively small sized groups (limited by Dunbar's Number). "

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Dapps are just censorship-resistant cloud-computing

"You could say that misunderstandings about the nature of dapps have resulted in the misappropriation of about $13 billion dollars between 2017 and 2018. While some of these ICOs may one day lead to something which merits the initial capital investment, it’s hard to argue that this will be the case for many (if any at all). The technology has been improperly leveraged and overcapitalized (unsuccessfully) in an effort to overcome fundamental limitations. Here I explain how the upsides and downsides of dapps compared to contemporary web services to show how to successfully leverage dapps."

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The Purpose of Layered Protocols

"The internet is the best example of a layered protocol architecture, and this design was a key factor in the internet’s growth and usefulness. Different pieces of functionality are split into separate protocols that build on one another, rather than being bundled together in one monolithic system."

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What is Harberger Tax & Where Does The Blockchain Fit In?

"Harberger Tax is an economic policy that aims to strike a balance between pure private ownership & total commons ownership in order to increase general welfare of society. It helps ensure that property is more productively utilised by the society, resulting in an increase of overall economic productivity and general welfare of society. It keeps the power of the market, whilst reducing the inefficiencies in how property is currently allocated. At a relative cost to efficiency in investment returns, it reduces the prevalence of monopolies that exclude society from an asset’s wealth generating capabilities."

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