Shiva
@ShivanshuMadan
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quick with nonsense | @infinity_vm
San Francisco, CA
Joined January 2010
(1/17). It took me 50+ hours to completely understand zkSNARKs for the first time. Now I can explain it to anyone in 10 minutes. A normie's guide to this monumental technology:
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To find opportunity, you've got to follow the narratives,. Following the narratives will lead you to Scroll📜 (@Scroll_ZKP). The Ultimate Guide to Scroll: 🧵
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I will say this 100 times:. L2s do NOT need decentralized sequencers to inherit Ethereum security. You need:.- A forced inclusion mechanism.- A sequencer replacement protocol.- Delay on contract upgradability . The biggest L2 in mainnet, @arbitrum ALREADY provides these.
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Every crypto predictions thread for 2023 has one narrative in common:. Zero-Knowledge Protocols. Your Ultimate 0-to-1 Guide to everything Zero-Knowledge 🧵
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If you're new to the Ethereum ecosystem please please use @Rabby_io instead of Metamask. I promise your experience will be 100x better.
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2 days ago, my post about frxETH got a lot of questions on the mechanics behind it. So here's my attempt at explaining @fraxfinance's latest shipment - Frax Ether 🧵
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You've heard of @zksync. But do you know what makes it truly UNIQUE?. Here are 3 features that could unlock mass adoption and bring MILLIONS of new users to crypto. 🧵.
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Super excited to announce that I have joined @SuccinctLabs as a Protocol Researcher. My transition to crypto has been long time coming and after meeting with @pumatheuma and @jtguibas, I knew Succinct was the place to be. ZK is the foundation on which the present and future of
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In under 3 months, @BuildOnBase has pulled in a staggering TVL of ~$350M. Stablecoins make up a massive chunk (33%) of that TVL. In fact, ~$100M is solely from USDC. But get ready for a major shake-up because @reserveprotocol is about to flip the script. 1/x
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Reminder that in the moments of peak distress, Celsius chose to pay back its DeFi loans first to avoid programmatic liquidation. This is the future of finance. All rules coded on-chain. Love it or hate it, but you can't ignore it.
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What are Curve Wars?. Explained like you're 5: 🧵 . (You will understand even if this is the first time you're hearing the word crypto).
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Unpacking the lifecycle of a rollup transaction: 🧵. Now (Centralized Sequencers).vs. Future (Modular everything)
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Hot take: . End users who don't give a damn about decentralization can use web2.
Hot take:. End users just want products that work well, they don’t give a damn about decentralization.
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Narrative: "SOLANA BROKE DOWN". Reality: Not exactly. But it wasn't pretty. Did Solana’s stumble just prove the modular thesis right? Would Ethereum have survived the same stress test?. Details below ⏬. 1/14
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Want to make it in crypto?. Find the next 100x narrative before everyone else. One such narrative is "Rollups-as-a-Service". Here's everything you need to know:.
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Want to learn something new in 15 minutes?. Here's a quick ZERO to ONE crash course on Frax Finance: 🧵.
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1/25 . Blockchains will become the ‘Beating Heart’ of the Global Financial System. A 🧵 on how blockchains can help reduce borrowing costs by >$35 billion a year!.
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Casual alpha drop by @samkazemian. After USD-pegged and inflation-pegged stablecoins, @fraxfinance is now coming up with an Eth-pegged Stablecoin. One stop shop for everything on-chain finance. Is anyone building better than Frax?
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Polygon co-founder @MihailoBjelic recently published a proposal to upgrade the @0xPolygon PoS network to a Validium. This is a post on what this transition means for the network and its security guarantees (and what it doesn't).
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1/8 . Frax Finance is building the next generation of the financial economy on chain 🔗🏦💲. Currency, Liquidity, Lending - All within one protocol 🧵
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MEV seems like the theme of CT this weekend. Don't know what it means?. Here's a 15-minute ZERO to ONE crash course on MEV. 'The invisible value of blockchains' 🧠🧵👇.
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The past couple of weeks have been absolutely elite for podcasts. Here are 3 pods on my list right now:. 1. @VitalikButerin on the first ever episode of Network State podcast with @balajis. 2. @punk6529 on @BanklessHQ 🤯🤯. 3. @sreeramkannan on @blocmatesdotcom. Gold mines.
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This post was marked UNSAFE from the rollups debate. Special thanks to @jon_charb for patiently answering my questions. (Will do a thread version soon).
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Current solutions to ZK-Rollups are mostly centralized. Only specific operators can submit tx batches and validity proofs to L1. Polygon zkEVM (@0xPolygonHermez) solves this by using a Proof-of-Efficiency (PoE) model to decentralize the process. Here's how it works 🧵
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Excited to share I have joined the Biz Dev team at @EthosStake. Sovereign chains provide incredible value to teams in terms of customizability, market valuation, upgradability, etc. But sovereignty is expensive! Chains must dilute native tokens to compensate the validators for
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It is frankly insane that people can get away with saying BS like "every L2 right now can steal user funds" without anyone correcting them????.
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The Bitcoin blockchain is 430 GB big!!. Ever wonder how this huge amount of data is quickly moved & verified around the entire network?. Answer: MERKLE TREES. Explained like you're 5: 🧵.
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@MaxResnick1 I've followed @0xMert_ enough to know to always start reading posts from the bottom. saves so much time.
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"Sign in with Google" - the most underrated feature on the internet. Imagine creating an account from scratch for EVERY website you visit. That's what most rollups offer today. Lack of cross-rollup composability. Thankfully, @sovereign_labs is here to change that. 🧵
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Crypto has gotten some insanely smart people obsessively working on it every waking minute. Hard not to be bullish.
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zkEVMs are the future of Ethereum. They are being developed at a breakneck pace. But not all zkEVMs are created equal!. Your guide to different types of zkEVMs:. 1/17
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The zkEVM wars are raging, but few truly understand them. Want to join the fray?. Here are the resources that helped me go from 0-to-100 in less than a month: 🧵
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"Not your keys, not your coins". Everyone knows this. Yet, thousands of people relied on FTX to keep their coins safe. For one simple reason:. Self-Custody is HARD 🧵.
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From $50 Billion to ZERO in a matter of 36 hours!. One of the most significant events in the history of cryptocurrencies. The 'Downfall of Terra': 👇👇
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MEV - Miner Extractable Value . MEV is a word that many people use but few understand completely. Here's what it means and why you should care about it-. MEV 101 - Explained like you're 5 🧵👇👇.
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Rollup Decentralization - Does it matter?. I believe the answer isn't a simple yes or no. In this post, I explore this problem from 3 angles: Philosophical, Technical, and Economical.
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DeFi starter guide: 🧵 . 1. What is DeFi?.2. Liquidity Pools.3. AMMs.4. Stablecoins.5. Curve Wars.
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What a beautiful, beautiful chart. ETH staking on @fraxfinance is still yielding an 8.80% APR!. For comparison, as of this tweet:. stETH on Lido -> 4.8% APR.rETH on Rocketpool -> 4.14% APR
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Trust-Minimized Bridging. ONLY L2s can get trust-minimized bridging with L1s. This is a big reason why chains continue to build as rollups instead of new L1s 🧵.
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Some exciting L2 design spaces to follow right now:. - PBS.- Decentralized Sequencers.- Decentralized Builders.- Sovereign Rollups.- x-RU composability.- Cross-domain MEV. What else??.
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.@eigen_da throughput seems levels above Celestia's currently. EigenDA last 24 hours avg = ~7.5 mbps.Celestia = 2 MB blocks/12 seconds = 0.167 mbps. Is this correct or am I missing something?.
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i'll be honest if you're a crypto native and bridging across L2s is "PAINFUL" for you in 2024, you might wanna pivot to calling yourself a normie. skill issue.
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Imagine you're moving out of your home to settle into a new city. All the precious stuff you've collected over the years needs to be packed into TWO suitcases. There's just not enough space!. What do you do?. Ethereum proposal EIP-4844 provides an exciting solution! 🧵
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TL;DR of the economic security debate:..• Cost to acquire majority ETH stake can be much lower than the market price (e.g., through a management change at a stake aggregator)..• Ethereum protocol NEVER reverts finalized blocks. (Even with no amount of economic security, the.
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Been getting a lot of questions about yield strategies on FRAX. One protocol I've been looking into is TopGear by @BrahmaFi. It's a single-sided vault that allows users to deposit FRAX in exchange for up to 12.25% stETH yield!. A quick 🧵. (NFA)
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Blockchains are one of the most exciting technologies. But most of them suffer from one major problem:. Scalability. Here's how (and why) Modular Blockchains will 10x the network throughput:.
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With all due respect, this take lacks nuance. as well as an understanding of how and why (stage 2) L2s work. Two statements can be true at the same time:.> Base does NOT compete with solana right now.> Base WILL compete with Solana if and when it reaches stage 2. Corporations.
🤯 “Base can’t compete with Solana,” says @calilyliu, the president of the Solana Foundation. She argues that Solana’s decentralization gives it the upper hand as “corporate L2s” cannibalize ETH.
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The global Internet of Value needs to exceed 10,000 txs per second. Ethereum mainnet does ~10 txs per second. And there are absolutely no plans to change this!. Instead, Ethereum will follow a."Rollup-Centric Roadmap" 🧵. 1/17
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Getting in early will give you an unfair advantage in crypto. But finding the right projects requires hours of research. It's easier said than done. Array (@array_capital) aims to change that with its #RealYield ecosystem. Here's everything you need to know:
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So many good pods to catch up to this week:. • Why MEV will always be controversial - @drakefjustin and @uriklarman on @Unchained_pod . • MEV in a modular world - @jon_charb and @bertcmiller on Bell curve (Their entire MEV season with @hasufl and @MikeIppolito_ is absolute bomb.
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Weeks like this are a good reminder of why we are in crypto. Instead of relying on opaque entities, we rely on open code & cryptography to define the bounds of financial systems. As an added bonus, it can save us BILLIONS of $$$ in costs!. Here's one example: 🧵. 1/8
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Optimism L2 does NOT reorg. Let me explain 🧵.
@cooper_kunz @mteamisloading @tyneslol how does OP deal with fraud proofs?. If block at timestamp n is proved to be fraudulent, what happens to blocks that were posted that built on it?. Could a sequencer see this and build on the block at n-1 instead?.
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bored on a friday night?. check out this great discussion between Bruno França and @jon_charb on the semantics™️ of rollups & bridges:.
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@jon_charb So many but let me list a few:. Technical:.> Ethereum is censorship resistant (and gonna get harder) - withstood multiple stress tests. > L2s are getting better - the first cohort is aiming for stage 2 (@arbitrum @base), the second cohort (@megaeth_labs @EclipseFND.
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Don't trust strangers?. NEVER, we say!. Yet, we happily do financial txs on networks secured by 1000s of strangers. This exciting game (KZG Ceremony) by Ethereum aims to change that dynamic🧵
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@cobie @calumz0rr Never thought I'd be stumped by a palindrome. The bear market has had its effects clearly.
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(1/22) zkSNARKS have been the HOT topic of 2022. But how do they work?. A ground-up guide to building this GENIUS technology (part 1/2) 👇. (Spoiler: you don't need a degree in maths to understand this)
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Your centralized security councils. Our noble whitelisted validator set.
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A few weeks ago, @VitalikButerin asked a fascinating poll question on Twitter:. "Does P = NP? Do you believe in god?". Not surprisingly, the poll results were all over the place. P vs NP is the most popular unanswered question in computation & maths. A🧵 on what it means:.
Does P = NP? Do you believe in god?.
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Vitalik is shitposting.Sreeram is shitposting. We are so back.
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There's a war brewing between people & companies over your data. But it turns out that there's a magic weapon that destroys all the risk. Zero-Knowledge Proofs. A technology that proves you're the only one who has your data. Here's how it works:.
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Summary of @zmanian's conversation with @EthosStake. • Innovation & Impact of @sommfinance.• Ethereum & Cosmos convergence.• Cosmos's challenges.• Ethos for L1s & L2s!.• Sommelier x Ethos.• Design space for Tokenless Decentralization
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Remember when they said "but I wouldn't know how to use an escape hatch"?. @l2beat is doing god's work.
This is where L2BEAT comes in. We created an open-source StarkEx Explorer with a user-friendly interface to access the Escape Hatch.
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God damnit guys.
We’re announcing today the completion of our pre-seed round for @ethos_network of $1.75m, led by. nobody. Seriously. We raised from the community, where the problem of grift, scams & fraud run deep. Ethos will solve this Web3 on-chain fraud problem that we all feel today.
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████ Cartel is the board member that has seats at every influential DeFi company. A 🧵 on what is @redactedcartel and how it aims to gain such power:.
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Started my week listening to two @Zac_Aztec interviews and now I know:. • The insane stuff that Aztec is building.• The fascinating story behind how PLONK came to be.• What it means when Britishers say "Going HAM on something". Highly recommend! (Links in next tweet).
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Think NFT-Fi has gains to be made,. but don't know how to play the game?. Let me present to you, @spice_finance. SPICY🌶️ alpha on the HOTTEST narrative of the year 🧵
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Future of Ethereum being presented live at ETH Denver . Are you paying attention?
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Internet today is owned by siloed corporations. Web 3.0 allows users to own their data and act for themselves. What it is and why we all should pay attention: (h/t @cdixon , @gavofyork)
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@BanklessHQ NFTs are just getting started:.
NFTs will revolutionize the way we retire. 3 ideas on how NFTs could help generate a passive income stream:
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Really good post this!. ZK + Aggregated layer thesis seems like the inevitable direction for the modular future.
I wrote this post to go deeper into what the Aggregated Blockchains Thesis means and to describe the Aggregation Layer in more detail. The scaling debate feels stuck between the monolithic and multi-chain/modular arguments. I argue that neither approach.
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NFTs will revolutionize the way we retire. 3 ideas on how NFTs could help generate a passive income stream:
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ZK Compression on Solana. A quick 🧵 on what it is (state compression) and what it definitely is not (rollup)
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Fuel v1 is the only "true rollup". - Arbitrum has fraud proofs but only whitelisted addresses can provide them.- Optimism's fraud-proof system is still under development.- On Starknet only whitelisted addresses can submit proofs
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Always meet your heroes. I remember coming across @sreeramkannan's a16z talk around 2 years ago and being completely awestruck by not only the idea of (then called) EigenLayr, but also how beautifully Sreeram delivered this intricate concept that even a novice like me could.
@eigenlayer launches on mainnet today, taking the first steps towards our vision of building the verifiable digital commons!.-----------.Ethereum is the verifiable internet. Rollup is the verifiable web server. AVS is verifiable SaaS. Eigenlayer is the verifiable cloud.
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Economic security is only a meme if it's coming from ETH. If it's coming from SOL, it can be used to build "flexible, scalable infrastructure for creating and managing staked assets, LRTs, and Actively Validated Services (AVS).".
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There's like a 100 people left on CT and everyone's talking about the 3 same things:. - Liquid Staking Derivatives.- NFT Finance.- zkEVMs. Spend time researching these topics and it'll pay off when the next bull cycle comes around.
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Investors paid an avg fee of $10,000 to mint ONE Otherside NFT. An amount higher than the avg annual income of 150 countries!. How then can Ethereum aim to become the 'Global Internet of Value'?. Answer: 'App-Specific Rollups'. 1/17 🧵
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