Forwarded from unfolded. DeFi
MakerDAO contributors propose up to $100M allocation for exploring tokenized T-Bills — link
The oracle problem and the future of DeFi
Key takeaways
- Crypto-based decentralised finance (DeFi) uses "oracles" to import real-world data into blockchain environments for use in smart contracts.
- Whether oracles can truly adhere to the complete decentralisation ethos of crypto is debatable. Even if feasible in practice, striving for the ideal of full decentralisation leads to complex consensus protocols that further erode blockchain efficiency.
- While introducing some degree of centralisation in oracles might boost efficiency, it also means adding trusted parties to a system designed to be trustless. As a result, crypto-based DeFi is likely to remain the preserve of cryptoassets only, rather than being used for real-world assets.
#reads oracles
https://www.bis.org/publ/bisbull76.htm
Key takeaways
- Crypto-based decentralised finance (DeFi) uses "oracles" to import real-world data into blockchain environments for use in smart contracts.
- Whether oracles can truly adhere to the complete decentralisation ethos of crypto is debatable. Even if feasible in practice, striving for the ideal of full decentralisation leads to complex consensus protocols that further erode blockchain efficiency.
- While introducing some degree of centralisation in oracles might boost efficiency, it also means adding trusted parties to a system designed to be trustless. As a result, crypto-based DeFi is likely to remain the preserve of cryptoassets only, rather than being used for real-world assets.
#reads oracles
https://www.bis.org/publ/bisbull76.htm
www.bis.org
The oracle problem and the future of DeFi
Crypto-based decentralised finance (DeFi) uses "oracles" to import real-world data into blockchain environments for use in smart contracts. Whether oracles can truly adhere to the complete decentralisation ethos of crypto is debatable. Even if feasible in…
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Forwarded from Gong Jiao Wei 巩娇玮
So now Gemini cannot deposit or withdraw directly to another exchange. Must deposit or withdraw directly to a whitelisted address that you control the private keys yourself.
ChainHedge's thoughts on the current market state:
https://telegra.ph/Market-thoughts--Sep-2023-09-08
#reads research checklist
https://telegra.ph/Market-thoughts--Sep-2023-09-08
#reads research checklist
Telegraph
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