@xuanling11
@xuanling11
Airdrop?! Not So Lucky Anymore! The airdrop was a way to help crypto to expand its user base. See the past tense I used! Nowadays, an airdrop is a way to scam new users. It becomes a way to siphon users’ tokens on the wallet away from unknown wallet addresses. **TL;DR** Airdrop is no longer a way to receive cryptos. Instead, scammers use this to embed a smart contract and execute the transfer function to take your cryptos away. Also, most airdrop tokens cannot be sold.…
@xuanling11
2022 Prediction #1: L1 Scalability I start this series just to express my opinions about what crypto may evolve in 2022. Maybe it will not but my hope is they can do better. With more and more users joining the crypto universe, scalability is a challenge for Layer 1 platforms such as Ethereum and many others. Scalability was a problem that had been identified in 2015. However, blockchain technology was not able to resolve and the issue has been persistent on many platforms.…
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2022 Prediction #2 L2 Bridges Bridge from layer 2 is one of the scalability solutions. Since layer 1 has set a foundation for blockchain to operate, upgrading layer 1 may cause unnecessary disruption on existing operations. The bridge is a perfect choice for blockchain with massive traffic while seeking for expansion of more users to join in the different types of blockchain. **TL;DR** Layer 2 bridge is a technique to help layer 1 blockchain expand its user pool in the…
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2022 Prediction #3: Zero-Knowledge Proofs or ZKPs Zero-Knowledge Proofs is a Defi way to answer regulatory compliance in a decentralized way. Since 2021 crazy runs of Defi and the hype to replace the current financial system, regulators are urgently working to put up bank regulations to pressure Defi to comply. Unfortunately, the result is not looking great. Some Defi products will surrender to comply; others will examine a new path to answer regulations differently -…
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2022 Prediction #4: Regulated Defi On-Chain KYC People wonder what regulations? You are right. The government kept urgently thinking about regulations and they just cannot come up with something on their minds because crypto is a very new technology that they have never been able to capture and use the existing regulations to help regulations progress. So what regulations then? **TL;DR** It will likely take years for regulators to come up with regulations. However, recently…
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2022 Prediction #5: Institutional Crypto Adoption People had cheered about institutional adoption of crypto in 2021. Rethink again. Does institutional adoption really help crypto communities or are they making another stock market that will be rigged or turning Defi into another bank? **TL;DR** Institutional adoption of crypto means regulations and market manipulation. Pouring unlimited resources into the market to influence the direction is what Wall Street has been…
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2022 Prediction #6: Defi Insurance Insurance is a contract with conditions to prevent further losses when the projected risks become real. Insurance is purposely designed to confuse users so that they can purchase the insurance to believe they are financially hedged and in reality, they are not. It is a magic spell to try to presumably resolve issues but it will make it worse. We need real insurances to protect people. **TL;DR** Traditional insurance is a word game to…
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2022 Prediction #7: NFTs-Based Communities - DAO 1.5 There are many debates about how much NFTs are actually worth it. Perhaps the question is not about NFT itself but what runs behind the NFT. NFTs-Based Communities are ideas that NFTs create for membership and identification of a group or organization to believe something together. It becomes a new way to identify yourself to belong in digital communities. **TL;DR** NFTs-Base Communities are using NFTs as their…
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2022 Prediction #8: Metaverse and NFTs Metaverse is not just 3D modeling for the existing world. So why bother to remodel every physical world in a 3D model? Why do we need Metaverse anyway? I think Metaverse is a digital world that runs by programmable rules and voting governance to improve with digital citizens. **TL;DR** NFTs-Base communities use NFTs as their identification tool and gather members together to work or play or interact within the digital communities. They…
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2022 Prediction #9: Web2 Companies’ FOMO Web2 companies are dominating the market nowadays. They are led by FAANG or MAMAA or GAMAM. Big Tech is what people usually refer them to as. Companies like Alphabet (Google), Amazon, Apple, Meta (Facebook), Microsoft, and Netflix. However, cryptocurrencies make them FOMO and possibly break them apart. **TL;DR** Web2 companies fear losing because Web3 will give users control of their data and choices to technology rather than forcing…
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2022 Prediction #10: Time for DAO 2.0 DAO or Decentralized Autonomous Organization has an accounting balance sheet and without centralized leadership. Some may have questions on how a headless organization can accomplish anything. However, crypto projects were built around such headless organizations with collective working forces, such as many Defi projects, including MakerDAO. **TL;DR** DAO is a future form of the corporation led by communities and profits share amount who…
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Craig vs People What if Satoshi Nakamoto wants Bitcoin privatized? It seems likely that Dr. Craig Wright wants exclusive rights over Bitcoin. Yet people who are using Bitcoin and are benefiting from it would like Bitcoin to become open source as long as possible. **TL;DR** Jack Dorsey, the former CEO of Twitter, is building a legal team to fight the potential over control of Dr. Craig Wright, a true Satoshi Nakamoto. **Here is a 1 min summary of the article if you want to…
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Polygon Enters ZKPs - Plonky2 Plonky2 is Polygon’s scalability solution on ZKPs. While Zero-Knowledge Proofs will be a standard after the Bitcoin standard, Polygon wants to become ZKPs era Ethereum. **TL;DR** ZKPs is one of the most secure solutions on cryptocurrency’s technology. Plonky2 can achieve the security goal while scaling up to help Polygon expand more users. **Here is a 1 min summary of the article if you want to skip the reading.** https://youtu.be/eFNVt1TWjUw…
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Crypto.com Backfire - When Centralized Crypto Service Panic Crypto.com stopped users withdrawing funds due to possible hacking. It leaves users pondering what had happened with their funds and their wallets. **TL;DR** Hackers stole funds from Crypto.com and users' wallets were missing funds. How users can restore their funds can be a critical point for centralized wallet service to exist and provide necessary services. **Here is a 1 min summary of the article if you want to…
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Coinbase NFT Marketplace Coinbase wants to build its own NFT marketplace. Unlike OpenSea open to everyone, the Coinbase NFT marketplace may be a selective artist and curated place for users to purchase curated NFTs. **TL;DR** Coinbase is likely to have its own NFT marketplace that is centralized and curated on its own. The future of the NFT marketplace will evolve between regulated NFTs and open-source NFTs. **Here is a 1 min summary of the article if you want to skip the…
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Crypto Paycheck Employees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. **TL;DR** Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will…
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Coinbase Customer Service Alive Coinbase has notoriously customer service that put users on hold for months without answering their questions. Now they launch live support to try to gain their reputation back. **TL;DR** Coinbase live customer service may be a game-changer for their business. To regain users’ trust, customer service is an essential part of the business. **Here is a 1 min summary of the article if you want to skip the reading.** https://youtu.be/uyRZgxfJUDo…
@xuanling11
When Meta Patented Metaverse Meta (Facebook) is very aggressive and secretive on their Metaverse move. They continue working undercover and implement technology that can exploit users’ data with the maximum profit-generating. Will Meta create a Metaverse we want? **TL;DR** Meta (Facebook) again like to analyze you through your emotion. The database they created likely collects your emotion and a possible link to emoji that can continue generating a false future for you.…
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When You Want Someone Forget About What You Did, Just Change You Name Ethereum changed the name of its original roadmap from Ethereum 2.0 to the consensus layer. It further confused people about their progress in upgrading the protocol. Or it is just a way to cover up their screw-up in the upgrade process. **TL;DR** Ethereum 2.0 roadmap has changed. ETH 2.0 now is a consensus layer. Naming does not that important, but there is not much progress on how Ethereum 2.0 will…
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When YouTube Enters Into NFTs Web2 companies are FOMO now. NFT changes the game of creating fields. Everyone can create their own art and sell it in the market. If there is a place where people can showcase their arts, users will join more than those who did not have such features. **TL;DR** YouTube is about to release its plan to enter the NFT market. Creators can also enjoy their MFT creation showcase on their YouTube channel. **Here is a 1 min summary of the article if…
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Facebook Just Did the Rug Pull Facebook or Meta just rug pulled their investors and killed their stablecoin project Diem. Apparently, they found out the technology is against their business model and they just have to get out as quickly as possible. **TL;DR** Facebook just rug pulled their investors on the crypto hype. Meta will be as centralized as they can to continue their data exploiting business. **Here is a 1 min summary of the article if you want to skip the…
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Bridging Between Web2 to Web3 Through NFTs Recently, Google's search trend of NFT continues to rise. With a trend like this, technology companies are planning to enter the NFT market too. **TL;DR** The technology uses NFTs as a bridge to enter into Web3. NFTs can bring their communities along with technology to integrate into the brand. **Here is a 1 min summary of the article if you want to skip the reading.** https://youtu.be/SXwpntU8rGk **Google Enters Digital Assets**…
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DAO The Way Part 1 DAO or Decentralized Autonomous Organization is a buzzword in 2022. There are more DAOs popping up than ever. That is great for the crypto ecosystem. However, I will share my experiences about DAOs and what we can do in DAO in 2022 and beyond. **TL;DR** Here you can learn the original idea of DAO and three principles derived from robotic rules. DAO can be a spectrum to apply into your community-building process and of course, you do not need to be a DAO.…
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DAO The Way Part 2 In part 2, I will introduce DAO or Decentralized Autonomous Organization categories. There are so far 6 types of DAO in the DAO Spectrum. **TL;DR** 6 types of DAO layout in DAO Spectrum. Each has its way to express DAO from corporations alike to complete decentralized autonomous way. Seeking innovation is a key to making such an entity flourish. **Factors** There are 6 factors to make the organization become DAO. Decentralized or quasi-decentralized will…
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Who Is The Winner of The Crypto Adoption Crypto is going the mainstream. Everyone expects their crypto-asset will become more valuable and they can use crypto everywhere. It seems such an expectation is more than just a hope. **TL;DR** Visa is the winner of crypto adoption recently. However, people can become winners in the future. **Here is a 1 min summary of the article if you want to skip the reading.** https://youtu.be/EqECK7r_jHo **Who Wins the Crypto Adoption** Early…