"Weekly Editor's Picks" is a "functional" column of Odaily.On the basis of covering a large amount of real-time information every week, a lot of high-quality in-depth analysis content will also be released, but they may be hidden in the information flow and hot news, and pass you by.

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Now, come and read with us:

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Panoramic understanding of the context of the blockchain industry

Friends outside the circle who are interested in the industry often ask some macro and abstract questions, want to find introductory textbooks, or feel overwhelmed by our terminology. This article for beginners takes the development route of the blockchain as the context, and is divided into two parts: blockchain 1.0 and blockchain 2.0, revealing the main narrative logic of the industry's development so far, and mapping DeFi, NFT, DAO and other key points track. If you are an industry veteran, you should read a review, and it is difficult to be too deep and detailed with a limited number of words.

In-depth discussion of blockchain is more like a company or a country?

Great angle, a more results oriented title should be "How to Value Layer 1".

“People seem to fall into two camps when they think about the value and structure of blockchain. One camp consists of pragmatic, traditional, financially friendly people who support Blockchain as a Business (BaB) A company with definable cash flow, product-market fit, and business model. The other camp is filled with intellectually advanced visionaries who support Blockchain as a Nation (BaN), seeing Blockchain as A country that supports its own government, economy, military, and tax system. These two very different frameworks lead to two different views on the value of the blockchain: the BaB faction focuses on the return value to token holders today, The BaN faction, on the other hand, is more concerned with new users and economic growth than compensation for token holders.”

DeFi

For a business that sells blocks, increasing the number and price of blocks is the pinnacle of success. Advocates of BaB focus on the fees generated (that is, the income earned by the proxy chain) to show that the product matches the market. They use fees to achieve their goal of returning cash to token holders, either through a deflationary monetary policy or through other free cash flows (such as staking rewards).

Layer1 from the perspective of the BaB faction, has developed from an early formation and speculative value to a "prosperous metropolis with applications and transaction revenue". Validators are responsible for "electing" the government (and deciding the rules by which society operates), and miners and minters act as an army to provide security and keep the country safe from would-be attackers. On-chain goods (NFTs) and services support a diverse economy, and deeply decentralized finance and trade routes (bridges) serve to connect it all. Most of the activity takes place in the nation's native token, which is the primary medium of value exchange. This token is also used to pay the mining fee "tax", supporting a public good that serves everyone using the chain.

The article also mentioned regulatory risks (the top DeFi protocols are already busy dealing with issues from the US SEC and global regulators), but in the long run, regulatory risks are exaggerated-in the end, consumer choice and sovereignty will win. In addition, Layer 2 will unlock the new potential of DeFi, and the introduction of real-world assets into DeFi will also reduce the overall associated risk of assets supporting these new systems, thereby reducing the overall system risk.

NFT, GameFi and Metaverse

Comprehensive inventory of the NFT trading market: who will be OpenSea's biggest opponent?

NFT, GameFi and Metaverse

Comprehensive inventory of the NFT trading market: who will be OpenSea's biggest opponent?

The article takes stock of the status quo of 38 NFT trading markets on each public chain, attaches the published transaction fees and royalties information of each platform, and introduces them respectively. Although it is not an article with strong conclusions, it can save a lot of search work for friends who want to understand the market panorama.Bankless: How to discover NFT potential projects in the early stage?》《NFT anti-fraud guide: identify common fraud methods and protect NFT assets》。

Web 3.0

Guide for NFT players to avoid pitfalls: How to determine whether an NFT is worth investing in

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With a valuation of US$1 billion, why is the encrypted data service track favored by traditional institutions?

Large financial institutions are relying on data to help make decisions. Whoever has the greatest amount of data and the ability to analyze it will make the best investment decisions. Encrypted data service organizations such as Nansen, Dune Analytics, and Chainalysis have their own strengths in data processing and integration.

The article sorts out the basic situation of head encrypted data companies, affirms the rationality of their valuations, compares the different business development routes and product capabilities of Nansen and Dune Analytics, and finally sublimates to the balance between privacy and commercial use of data analysis and trade-offs.a16z: Neglected connection hosting issue between Web2 and Web3

The first moment Web2 users enter Web3 must be intuitive, preferably following the Web2 experience, without cryptocurrency wallets, key management, gas fees, congested transactions, or any other foreign user experience, to continue trying. The article mentions embeddable iFrames via its Google Drive to store the user's seed phrase (although the Web3 community doesn't like this). Of course, if you have the ability to provide hosting and non-hosting options, it will be the best, and it can be used for both Web2 and Web3 users.

(a16z obviously did not mention the use cases of my country's major Internet companies, such as the account system of the "Alliance Chain Version NFT".)

The first article in the series, the introduction is slightly longer, you can read it from the middle, "With the prevalence of the wool party, P2E began to be occupied by machines, robots will not pay for the experience, and even the value of communication is zero. It is reported that Axie Infinity About 30% of the SLPs in the network are taken away and sold by robots, which to a certain extent also increases the difficulty for the project party in terms of economic model update and market value management. In addition to chain games, scenarios such as NFT, DAO governance, and DeFi lending and mortgage They also face various restrictions due to the lack of identity. Obviously, DID, as a market that urgently needs to explode, its exploration and scale will grow exponentially in the future.”

New ecology and cross-chain

The DID architecture is divided into four major components from bottom to top, namely identifier standards, infrastructure, credentials, and applications (wallets, products).

New ecology and cross-chain

The article tries to answer the key question about cross-chain: how to evaluate the security of a cross-chain asset? Is the USDC in some new public chains the same as the USDC in Ethereum? Why are there stablecoins in different formats such as ceUSDC, anyUSDC, madUSDC and even USDC.e on some platforms, but there is only one USDC on other platforms? When a cross-chain bridge is attacked, how to judge whether the cross-chain assets are affected?

DAO

Asset cross-chain is essentially a value transfer process across different bookkeeping systems. The two basic modes of asset cross-chain are the locked casting model and the two-way fund pool model. Each time the lock-up minting process goes through, the risk of the asset increases by one layer. The project party should try to keep the name of the cross-chain assets intact and not mislead users.

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Solve the three most pressing problems to make decentralized governance great again

“The DeFi protocol DAO continues to experiment with various decentralized governance implementations, including organizing contributors through committees (such as Synthetix) and distributing funds through reward programs (such as Aave, Compound, and Uniswap).” The article introduces the three most pressing issues ( Separating signal from noise, building consistent leadership, ensuring an influential community), and recommendations for addressing them.

As the size of some project communities grew, the number of individual contributions made in different locations began to obscure the discussion. This added complexity is a hindrance to the governance process, as time is spent parsing through the large volume of posts to determine which ones add unique value, while the most valuable ideas get lost in the crowd. Governance app Boardroom offers a new idea tool that allows the community to show support for new ideas through a mechanism similar to Reddit's upvoting feature. In this way, users can easily vote for the best and most valuable discussions by the community. Most of the discussion and consensus process needs to happen at the DAO level.

A mature decentralized project does not need a leader, but its core contributors do. The protocol should clearly describe the operations of the core contributor team, with a dedicated, motivated leader coordinating them. DeFi protocols can improve decentralized governance by increasing the community's emotional stake in the process, while also leveraging the financial incentive power inherent in token ownership.

Dialogue with Penn Law Professor Tonya Evans: Can the law keep pace with cryptocurrencies?

"Our goal is not to maximize copyright law and turn every little thing you do in the world into a potential infringement, but to somehow share the value of these shared cultural moments and own more. That's It's what you really want. You want a richer cultural life."

hot spots of the week

secondary titlehot spots of the weekIn the past week, the situation in Ukraine and Russia has been tense, and cryptocurrencies have been across the boardShock lowerThe 24H liquidation volume of DeFi mortgage loans on the whole networkthe fedAs high as 17.12 million US dollars, a new high in the past 30 days;the fedThe director said that the US central bank's digital currency may help ensure the dominance of the US dollar,Proposal to ban cryptocurrencies as payment in Russia, submit to parliament amid central bank objections，Submitting a Cryptocurrency Regulatory BillMinistry of Finance of IndiaEl SalvadorIndia's central bank digital currency will be built on blockchain technology, official saysEl SalvadorPresident plans to offer citizenship to foreign investors,central bank of ukraineIssuance of e-money and recharging of e-wallets prohibited, my countrysupreme lawIncrease the relevant judicial interpretation of "new types of illegal fund-absorbing behaviors such as virtual currency transactions";PayPal and Venmo、Will start charging flat fees for cryptocurrency transactions under $200; Musk announcesThe world's largest Tesla V3 super charging stationFuturistic restaurant and drive-in theaterDogecoin payment will be accepted;V God expresses support for Ukraine:Ethereum is neutral, but I am not ;yesOpensea launches phishing attack1100 ETH，of attackers using Tornado.cashWith "Editor's Picks of the Week" series

With "Editor's Picks of the Week" seriesPortal。

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