3 days ago
🔴 Coinbase accused of manipulating the price of Bitcoin, its CEO denies it.
Rumors claim that coinbase would issue IOUs instead of actually holding #Bitcoin , which could ease buying pressure on the market 📉
Coinbase CEO Brian Armstrong highlights the transparency of the audits conducted each year by Deloitte .
Rumors claim that coinbase would issue IOUs instead of actually holding #Bitcoin , which could ease buying pressure on the market 📉
Coinbase CEO Brian Armstrong highlights the transparency of the audits conducted each year by Deloitte .
15 days ago
WHAT ARE THE BIGGEST OBSTACLES TO DePIN GROWTH??
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
26 days ago
🚨 Coinbase CEO Brian Armstrong introduces a verifier of onchain activity on the Base and ERC20 networks
2 months ago
2 months ago
Binance Pre-Launch market introduced the Hamster Kombat (HMSTR) token with a maximum supply of 10 billion tokens.
Similar to Notcoin, Hamster Kombat will be released at the end of the season, and in-game coins will be swapped for it during distribution.
While the exact pricing strategy for Hamster Kombat hasn’t been officially announced, it’s likely based on profit per hour. Exciting times for crypto enthusiasts and hamster fans alike! 🚀🐹
Similar to Notcoin, Hamster Kombat will be released at the end of the season, and in-game coins will be swapped for it during distribution.
While the exact pricing strategy for Hamster Kombat hasn’t been officially announced, it’s likely based on profit per hour. Exciting times for crypto enthusiasts and hamster fans alike! 🚀🐹
2 months ago
⚖️ Crypto influencer Ben Armstrong “Bitboy” is currently under investigation by the CFTC for promoting 15 cryptos including the $BEN token.
The CFTC has subpoenaed media company Hit Network, the company that formerly managed Ben “BitBoy” Armstrong.
Armstrong had presented the tokens in YouTube videos.
According to the title of some YouTube videos, some had the best potential to make x100
https://www.theblock.co/po...
The CFTC has subpoenaed media company Hit Network, the company that formerly managed Ben “BitBoy” Armstrong.
Armstrong had presented the tokens in YouTube videos.
According to the title of some YouTube videos, some had the best potential to make x100
https://www.theblock.co/po...
