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

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

The Twitter account of Ethereum co-founder Vitalik Buterin is suspected of being hacked and posting phishing links. The tweet containing the phishing link has been deleted. Previously, the founder of Uniswap and members of the Ethereum Foundation also encountered similar things. — link

Asset fractionalisation will become increasingly common and crypto will be a great medium for that

Looking forward to more of such cases when crypto has developed further

Straits Trading launches products to allow eligible investors to own shares in high-end condo unit, GCB

https://www.straitstimes.com/business/companies-markets/straits-trading-launches-products-to-allow-eligible-investors-to-own-shares-in-high-end-condo-unit-gcb