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More on layer 2 solutions

With Ethereum merge rolling out, the cryptoverse is excited. I tried to pour some cold water in this article: Layer 2 solutions I doubt many will pay attention. But I still feel compelled to shout out, seeing a train going at a wrong direction. As written in the previous article Layer 2 solutions, rollups are...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Layer 2 solutions

Bitcoin Core (BTC) and Ethereum failing to scale has opened the doors for a variety of layer-2 solutions (L2 solutions). The supporters of these unscalable blockchains set their hopes on L2 solutions in no small measure. Because these blockchains’ nonscalability is inherent with their fundamental designs rather than a temporary development limitation, L2 is their...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Anonymity and Privacy

In the world of blockchain and cryptocurrencies, there’s a struggle over the distinction between anonymity and privacy.  Even some of the most articulate people struggle and stumble over explaining these concepts. The struggle is due to misunderstanding of the concepts and reality. Sure, one can make a distinction based on the literal meaning of the words....

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here

The defamation case Wright v. McCormack is telling

The defamation case of Wright v. McCormack is telling in multiple ways, not only in the result itself, but also in how the BTC world and cryptoverse have reacted to it.

In Wright v. McCormack, Australian/UK scientist Dr. Craig S. Wright sued podcaster Peter McCormack for libel (defamation in writing). McCormack in a series of posts on social media called Wright a fraud for claiming himself to be Satoshi.  Wright sued McCormack in a UK court for libel.

The outcome in the lower court: Wright won a judgment against McCormack on all libel accounts. But the judge awarded Wright only a symbolic £1 for the damages.

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here

Bitcoin as a financial instrument

“Bitcoin is analogous in many ways to old systems. The exchange of value is done in the same way as a negotiable instrument or cheque.” - Dr. Craig S. Wright, Peer-to-peer electronic cash.

A negotiable instrument can be transferred or assigned to another party; in comparison, a non-negotiable instrument cannot be transferred from one party to the next but can only be redeemed or spent by the original recipient of the instrument.

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here

The structural impact of the Cost of Transaction (CoT)

The longer-term impact of the cost of transaction (CoT) is misunderstood and underestimated. It’s not just about something being cheaper or more expensive from an individual user’s viewpoint. The CoT is more fundamental in that it is structural. It determines what kind of transactions may happen and what kind may not. It also determines what...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Who needs blockchain/web3?

A recent post by Dan Thomas on LinkedIn brought up the issue of the usefulness of blockchain, web3, NFTs, etc., and touched on the question of decentralization and blockchain trilemma.

Any sign of sobriety during this intoxicating crypto frenzy is a good thing.

I partially agree with the original post, especially the point that many of the incumbent businesses shouldn't be excited about DLT and Web3 because, as the author points out, a lot of things they want to do can be done more efficiently and more economically using conventional database technologies.

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Scalable vertical platform for global merchandising

At Toolots, we are building the world’s first scalable vertical platform for global merchandising. What’s so unique about it? First off, there has not been a scalable vertical platform for global merchandising in the world so far. When people talk about platforms today, they usually refer to horizontal platforms which are wide and shallow without depth of expertise and integration. Scalable horizontal platforms are common, including well-known companies such as Amazon and Alibaba. One essential… Read More »Scalable vertical platform for global merchandising

One blockchain as the base layer of IoV

The next generation Internet will be both the Internet of data (IoD) and the Internet of value (IoV). The IoV will be an intrinsic part of the Internet, integrated at the base Internet layer (TCP/IP) for packets and transmission, rather than a mere application layer concocted upon the IoD. To do this will require integration...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here