** Who Are We? **\n\nKleros is a tight-knit team, supported by a large community, that works together to democratize access to justice using cutting edge technologies

Kleros

kleros

In the presentation below, Clément Lesaege, co-founder of , presented the attack costs of different oracle networks and how to calculate the potential profit from corrupting them. Kleros https://youtu.be/bzqZnUC5VkI?si=T2azT5qDPdzunW4Y&embedable=true Below is a glossary of key concepts mentioned during Clement’s talk, intended as a supplement to his video presentation. About Kleros is a decentralized protocol built on the Ethereum blockchain that leverages crowdsourcing and game theory to arbitrate disputes quickly, and economically. The protocol’s core product is the Kleros court, where disputes are settled through a majority vote by randomly selected jurors incentivized to participate using , the native token of the platform. Kleros $PNK 51% Attacks A 51% attack or a majority attack occurs when more than half of the power to submit information is controlled by a single person or group of people. Essentially, this group has the ability to submit whatever information that is beneficial to them. Due to the decentralized nature of blockchains and Oracle protocols, 51% attacks will always be a risk. Because of this, protocols must utilize methods to make attacks economically unfeasible. Check out for a deep dive into all things related to oracle manipulation. this article Arbitration Protocols Arbitration protocols are decentralized systems that operate on predefined rules and smart contracts and are designed to address on-chain disputes. When disputes arise, both parties submit their case details and evidence to a panel of randomly selected jurors who evaluate the information and vote on the verdict. These jurors are rewarded, using the native token, when they arbitrate honestly or may have their staked tokens slashed in case of misconduct. Examples of arbitration protocols include and . are some popular examples of on-chain arbitration. Kleros Aragon Court Here Forking Forking refers to the process of creating a new version of a blockchain’s protocol, resulting in the splitting of the original blockchain into two separate chains. Forks occur when there are fundamental disagreements or updates within the community about the direction or rules of the blockchain. There are two main types of forks, namely . hard forks and soft forks Re-Staking In a network, participants lock up a certain amount of their cryptocurrency as collateral to become validators or participate in the consensus process. Re-staking involves taking the rewards earned from staking, such as transaction fees or newly minted tokens, and adding them back to the initial stake, effectively compounding the amount of staked tokens. PoS This allows participants to benefit from both the initial staked amount and the additional rewards generated. MEV Maximal Extractable Value (MEV) refers to the profits that miners or validators can potentially make by reordering and including transactions in a specific order within a block. On the blockchain, transaction ordering can affect the final outcome and pricing of transactions. Profits from MEV are gained by miners who engage in practices such as front-running, back-running, and sandwich attacks. This involves prioritizing transactions that are likely to profit, such as executing trades just ahead of large transactions or exploiting arbitrage opportunities between different trading platforms. A prominent example of MEV is the on the decentralized finance (DeFi) protocol . flash loan attack bZx Learn more about Kleros here: Kleros Website Kleros Documentation Kleros Twitter Clément Lesaege Twitter The Blockchain Oracle Summit is the world’s only technical summit that dives deep into the use cases, limitations, and impacts of oracles on the wider blockchain ecosystem. Leading speakers worldwide gathered in Paris to share their work and experience building and using Oracle solutions. Article by . Michael Abiodun

How to Calculate The Attack Costs Of Different Oracle Networks: The Key Concepts

বিভিন্ন ওরাকল নেটওয়ার্কের আক্রমণ খরচ কিভাবে গণনা করা যায়: মূল ধারণা

So berechnen Sie die Angriffskosten verschiedener Oracle-Netzwerke: Die Schlüsselkonzepte

Cómo calcular los costos de ataque de diferentes redes Oracle: los conceptos clave

Comment calculer les coûts d'attaque de différents réseaux Oracle : les concepts clés

विभिन्न Oracle नेटवर्कों की हमले लागत की गणना कैसे करें: मुख्य अवधारणाएँ

さまざまなOracleネットワークの攻撃コストを計算する方法: 重要な概念

다양한 Oracle 네트워크의 공격 비용을 계산하는 방법: 주요 개념

Como calcular os custos de ataque de diferentes redes Oracle: os principais conceitos

Как рассчитать стоимость атаки на различные сети Oracle: ключевые понятия

Farklı Oracle Ağlarının Saldırı Maliyetleri Nasıl Hesaplanır: Temel Kavramlar

Cách tính toán chi phí tấn công của các mạng Oracle khác nhau: Các khái niệm chính

如何计算不同预言机网络的攻击成本：关键概念

In the presentation below, Clément Lesaege, co-founder and chief technical officer of Kleros, presented on the integration of subjective oracles for executing DAO decisions and the role Kleros could play in the evolution of DAO governance. https://youtu.be/bQFUj59KG3g?embedable=true Below are the highlights of his presentation. What is Kleros? is a decentralized protocol built on the Ethereum blockchain that leverages crowdsourcing and game theory to arbitrate disputes quickly, and economically. The organization was founded in 2017 by Dr Federico Ast and Clément Lesaege to bring “justice for the unjusticed” just as Bitcoin brought “banking for the unbanked”. Kleros The protocol’s core product is the Kleros court, where disputes are settled through a majority vote by randomly selected jurors incentivized to participate using . $PNK is the native token of the platform and is used for choosing and paying jurors, protecting from and making governance decisions. To become a juror, one must stake between and have skills which help solve disputes, such as the knowledge of HTML and Javascript. Jurors who vote wrongly are penalized by having their tokens slashed. $PNK Sybil attacks 1000-1600 $PNK In addition, Kleros offers products like , , , and , which settle disputes related to e-commerce, insurance, intellectual property and many other industries. The platform is used by dApps like Uniswap, Gnosis, Polkamarket etc. and can be used by any online services on and off-chain. Oracle Escrow Governor Curate Current Challenges of DAO Governance During his presentation, Clément emphasized the challenges currently experienced in governing DAOs. The first limitation is based on an in-built feature of most DAOs known as coin voting, which refers to the use of a native token to allocate voting power among the community. It follows that ‘whales’ or investors with financial backing will control the voting process and pass laws that favor only themselves. Another limitation of coin voting is vote buying. Vote buying occurs through protocols like and , where token holders deposit their governance tokens in exchange for dividend earnings. The protocol auctions off their deposited tokens to other users who can now make decisions which affect the DAO. Bribe Paladin In most cases, DAO token holders resist this form of bribery. However, voting power can still be bought on any decentralized lending platform like Aave, Maker or Compound in a process referred to as obfuscated vote buying. In this form of vote buying, users stake Ether (ETH)  as collateral to  borrow the governance token, vote and then pay back the token debt with interest to withdraw their ether. Another major limitation of coin-based governance is and the use of multi-sigs.. DAO voting usually occurs on alternative networks like and so that members can avoid the cost of gas fees and the slow pace of voting. However, votes conducted off-chain require a group of signatories to record the results on the blockchain. This increases the centralization of power and endangers the entire network. off-chain voting Snapshot Upstream In Vitalik Buterin’s about the need for DAOs to evolve beyond coin-voting governance, he addresses these issues and encourages alternative systems to  coin-driven governance such as to make the voting process more inclusive and fair. article Proof of Humanity How Subjective Oracles Can Change Voting in DAOs Typically, smart contracts fulfill transactions based on objective data, such as price data or weather reports, rather than subjective judgment. By shifting to subjective oracles, which are streamlined  to be more flexible and handle more specific tasks, DAOs stand to gain an exponential increase in the applications of smart contracts, especially in voting processes. One example of this is the replacement of multisignature or multi-sig wallets used in the voting process with subjective oracles.. Unlike regular wallets, multi-sigs require more than one signature or private key to approve a transaction. They are useful in ensuring that certain votes or upgrades can only occur with the approval of the majority of signers. While multi-sigs can provide greater transparency, important decisions are still made by a small handful of multi-sig signers. According to Clement, rather than relying on a small group of individuals to validate the off-chain transaction or vote, DAO contracts using subjective oracles to verify results on-chain can be used instead. Kleros, and the are examples of projects using this system. Learn more about the advantages and disadvantages of multi-sig wallets in .An alternative to this method is also available for DAOs that have already implemented multi-sig voting.. The has integrated the , which allows both off-chain Snapshot proposals and Discord polls to trigger on-chain transactions so that anyone in the community can execute without having to rely on a smaller group of signatories. In addition, Kleros serves as the arbitrator in case of any oracle disputes on the module. Proof-of-Humanity UBI DAO this Cryptopedia post 1Inch DAO Gnosis Zodiac Reality Module When DAOs use these available modules instead of multi-sigs, , they improve their voting systems’ decentralization, autonomy and fairness. But is this all subjective oracles can do? Other Uses Of Oracles & How They Could Facilitate the Separation of Power in DAOs DAOs were created to give power to the community, but constant voting and lengthy discussions render the organization inefficient.  Clément proposes applying a system of government commonly used in Nation States, consisting of  separate Legislative, Judiciary and Executive roles, to DAOs. In this system, the Legislative, i.e. the community, would be able to make or change laws by voting on platforms like Snapshot. The executive team, which consists of the core developing team, will then oversee and implement these decisions. Lastly, the Judiciary arm would consist of a court of jurors and a subjective oracle like . Here, executions made by the executive will be held against the established laws and verified. Dividing the duties between arms of government prevents bogged-down voting processes and reduces the chances of uninformed voters passing disadvantageous laws. Kleros + Reality.eth According to Clement, subjective oracles could also play a major role in governing fund allocations. Incentive programs, salaries, bounties and other inter-DAO agreements are rendered enforceable with the separation of powers as well . This builds credibility and trust in the DAO because they cannot renege on contracts. Furthermore, subjective oracles would allow the creation of DAOs that execute transactions based on a specific set of rules, without the need for any token holders to enforce decisions. This enables the creation of DAOs for ‘smaller’ activities like account recovery and event reporting. Looking Forward… The need for arbitration platforms like Kleros was evident in May 2022 after the Terra crash. Insurance protocols like confirmed they’d pay over to their users, while decision to helped to secure several millions of dollars of claims. InsurAce $12 million Unslashed Finance’s work with Krelos These statistics and more confirm that decentralized arbitration will become exponentially important as the crypto ecosystem expands. The Blockchain Oracle Summit was the world’s first conference to focus solely on the important role of oracles in the wider blockchain ecosystem and their limitations. Leading speakers from across the world gathered in Berlin to share their work and experience building and using oracle solutions. Learn More About Kleros: Kleros Documentation Kleros Twitter Kleros Github Kleros Discord Kleros YouTube Reality.Eth Documentation Clément Lesaege Twitter

Looking at Integration of Subjective Oracles to Execute DAO Decisions

Mirando la integración de oráculos subjetivos para ejecutar decisiones DAO

Regard sur l'intégration d'oracles subjectifs pour exécuter les décisions DAO

डीएओ निर्णयों को क्रियान्वित करने के लिए सब्जेक्टिव ऑरेकल के एकीकरण को देखते हुए

DAOの決定を実行するための主観的オラクルの統合の検討

Olhando para a integração de oráculos subjetivos para executar decisões DAO

Nhìn vào sự tích hợp của Oracles chủ quan để thực hiện các quyết định của DAO

查看主观预言机的集成以执行 DAO 决策

Acknowledgments: Special thanks to , , and for their feedback and contributions. Rein Wu Dylan Zhang Bill Shi tl’dr People have been predicting prediction markets to take off sooner or later, and ongoing UX improvements have primed this segment for takeoff But to scale to billions of users, we need “something new” beyond ongoing UX improvements, and that is AIs as the cog and the linchpin in the machine An AI quartet of content creators, event recommenders, liquidity allocators, and information aggregators can catalyze massive new activity in this space Integrating these AIs into the current prediction market framework can enable prediction markets at a microscopic scale, making them personally attractive and relevant The prediction market primitive paves the way for Tinder-like prediction market apps, embedding predictive trading experiences into our everyday digital existence Every decision starts with a prediction. Consider pondering over Bitcoin’s potential: “Will purchasing Bitcoin now yield a doubled investment by year’s end? If the “yes” prospect is judged even marginally more likely than “no,” it would be economically rational to decide to buy Bitcoin in the absence of superior alternatives. But why stop at Bitcoin? Imagine we could architect markets rooted in predictions about all kinds of events, such as who will be the next US president or which country will win the World Cup. Here, not assets but forecasts themselves are traded. Predictions shape markets; markets validate our predictions Prediction markets have been called the “holy grail of epistemic technology” by Vitalik. Vitalik has a knack for seeing big things before others. So he’s a good source for frontrunning narratives. He proposed the idea of an AMM on Ethereum seven years ago in a . “Another guy” named Hayden Adams took the call to action and started building it, on a $60K grant. Two years later, Uniswap was .' blog post born If Vitalik’s blog posts can initiate the creation of dollar industries, we should probably pay attention to them. For example, it happens that Vitalik was excited about using prediction markets in governance – a radical form of governance known as “futarchy” – and now we have doing just that, with big VC firms like Pantera . $100+ billion back in 2014 Meta DAO taking part in it But it’s his more around prediction markets + AI that we want to focus on, as we are starting to see the beginnings of something big here. recent discussions Prediction markets are primed to take flight The market leading prediction market right now is Polymarket, owing to its ongoing UX improvements and expansion of event categories and event offerings. The monthly volume recently hit all-time highs and is likely to go higher with the US presidential election in November of this year (Polymarket activity is US-centric). There is further precedent to believe that prediction markets could take off this year. Besides crypto markets reaching all-time highs in 2024, we also have one of the biggest election years in history this year. Eight of the world’s ten most populous nations, including the US, India, Russia, Mexico, Brazil, Bangladesh, Indonesia, and Pakistan, are also going to the polls. We also have the 2024 Summer Olympics upcoming in Paris. But given monthly volumes are still in the tens of millions when it could reach hundreds of millions, let’s consider some of the limitations of current prediction markets: Centralized control over event creation A lack of incentives for community content creators Insufficient personalization Predominantly US-centric, overlooking substantial international opportunities But we need “something new” We believe that thing is AI. We need AIs as players in the game. We expect that soon, it will be common to see AIs (bots) participating alongside human agents in prediction markets. We can already see live demos of this in and , among many others who will likely enter this scene. More on this later. Omen PredX AIs need AIs as arbiters of the game. Although relatively rare, there can be instances where dispute resolution is important and necessary in a prediction market. For example, in a presidential election, the results may be very close, and allegations of voting irregularities may surface. So, while the prediction market may close, favoring Candidate A, the official electoral commission may declare Candidate B as the winner. Those betting on Candidate A will argue against the outcome due to alleged voting irregularities while those betting on Candidate B will argue that the electoral commission decision reflects the “true” outcome. A lot of money may be on the line. Who’s right? Answering this question poses several challenges: Players may not trust human arbiters due to their biases Human arbitration can be slow and expensive DAO-based prediction resolutions are vulnerable to Sybil attacks To address this, prediction markets can use multi-round dispute systems a la and only humans are involved in rare cases where disputes reach a deadlock. Players can trust AIs to be impartial, as fabricating enough training data to bias them is unfeasible. Also, AI arbiters work faster and at a much lower cost. is building in this direction. Kleros, except using AIs instead of humans to solve disputes at earlier rounds, xMarkets AIs create desire For prediction markets to really take off, they need to be able to engage sufficient interest to push people past the psychological threshold of actually trading prediction assets. It may not take much to do this for general topics a lot of people care about, like who will win a presidential election or the Superbowl. However, including only general topics severely limits potential liquidity. Ideally, a prediction market could tap into the liquidity of specific events of high interest to niche audiences. This is how targeted advertising works, and we all know targeted advertising works. To achieve this, prediction markets need to solve four general challenges: Highly relevant event supply is key. To grab the attention of a niche yet dedicated audience, event creators must deeply understand their community’s interests to drive participation and volumes. Event Supply: Demand needs to be high within the particular targeted community, taking into account their demographic and psychographic idiosyncrasies. Event Demand: There’s enough opinion diversity and dynamics within the targeted community to drive sufficient liquidity to retain both parties and minimize slippage. Event Liquidity: Players should have easy access to enough information to make them confident to make a bet. This could include a background analysis, relevant historical data, and expert opinions. Information Aggregation: Now, let’s see how AI could address each of these challenges: Content creator AIs (“copilots”) assist in the creation of content beyond human capacities or motivation. AIs suggest timely and relevant event topics by analyzing trends from news, social media, and financial data. Content creators – whether human or AI – will be rewarded for generating engaging content that keeps their communities lively. Community feedback enhances the AI’s understanding of its communities, making it an iteratively improving content creation engine to bond content creators and their audiences. Content Creator AIs: Event recommender AIs tailor event suggestions to users based on their interests, trading history, and specific needs, focusing on recommending events ripe for debate and trading opportunities. It adapts to users’ behaviors across different regions, cultural contexts, and times. The end goal is a highly targeted feed of events, free from personally irrelevant content that clutters prediction market platforms today. Event Recommendation AIs: Liquidity allocator AIs tackle counterparty liquidity risk by optimizing liquidity injections to narrow the bid-ask spread. To minimize risk, AIs can implement the (LMSR) AMM model specifically designed for minimizing risk in low-liquidity prediction markets. They could also incorporate that dynamically adjust liquidity depth, protocol fees, and the bonding curve to further minimize risk. These AIs manage event liquidity from a general LP pool, rewarding contributions with accrued fee revenue or platform tokens as further incentives. All in all, this means preemptive adaptation to market changes, reduced slippage, and better price stability. Liquidity Allocator AIs: logarithmic market scoring rule reinforcement learning agents These AIs harness compute over a wide array of indicators (e.g., on-chain data, historical data, news, sentiment indicators) for players to comprehensively understand the event. From there, the information aggregation AIs can offer well-rounded projections, turning prediction markets into the go-to source for informed decision-making and alpha. Projects can choose to token-gate access to the insights gleaned by information aggregation AIs because in prediction markets, . Information Aggregation AIs: knowledge = money Now, let’s see what this looks like when you piece it together. Below, you can see the main components and workings of a prediction market without AIs (in black) and with AIs (in blue). In the non-AI model, content creators (usually the platform itself) arbitrarily create events, supply liquidity (initially subsidized by their treasuries), save the events to an event database and promote them in bulk to human players. This is how Polymarket currently works, and it's working quite well. But I think it can get a lot better. In the AI model, content creator copilot AIs support content creators in creating and promoting events inside targeted general or niche communities. Liquidity provision is supported by liquidity allocator AIs that optimize liquidity injections over time through learning player order books and using external data from oracles and other data vendors. Event recommendation AIs use stored events in the event database and wallet transaction history to optimize event recommendations tailored based on personal interests. Finally, information aggregation AIs collect information from data vendors to provide educational and contextual information to human players and to inform AI players about their prediction decisions. The end game? A fine-tuned prediction market system that enables prediction markets to work at a microscopic scale. Prediction markets at this scale would enable a different user experience, one that is more like Tinder or TikTok. As the events are highly targeted, they could be fed to you in a feed a la TikTok, and – even with today’s wallet and blockchain technology – players could place bets by swiping left or right a la Tinder. Imagine that: people making micro-bets on the events they personally care about while they’re commuting to work or school. Supercharging information aggregation Of the most notorious difficult outcomes to predict is asset prices, so let’s focus here to see how AIs perform when pushing at the edges of what is possible in prediction markets. Using AI to predict asset prices is actively being explored in academic circles. Machine learning (ML) techniques like linear models, random forests, and support vector machines have been to predict cryptocurrency prices with better accuracy than human judges. These models have discovered that behavioral indicators like Google search intensity explain price variance. shown IBM research artificial prediction markets for commodity price prediction, offering a compelling case study on integrating AI with prediction markets. Their research highlights the potential of artificial prediction markets to aggregate diverse and evolving real-time information sources for making better predictions even in complex real-world problems like predicting the prices of volatile commodities not traded on online exchanges (e.g., ethylene, hydrocarbons). The reason AI agents can outperform standard ML models here is that they learn over time by themselves – aka agency. explored Another study comparing random forest regression and LSTM to predict Bitcoin’s next-day price that the former performed better in terms of fewer prediction errors. It also showcased the power of AI in information aggregation breadth – far beyond ordinary human capacity – to model 47 variables across eight categories, including (a) Bitcoin price variables, (b) technical indicators of Bitcoin, (c) other token prices, (d) commodities; (e) market indices: (f) foreign exchange; (g) public attention); and (h) dummy variables of the week. The most important predictors varied over time from US stock market indices, oil price, and Ethereum price in 2015-2018 to Ethereum price and a Japanese stock market index in 2018-2022. It also found that for Bitcoin’s next-day price, the random forest regression performs best with a one-day lag. showed We can infer that in some popular prediction markets, there is simply too little time for a busy human to aggregate, analyze, and interpret sufficiently large amounts of data to make good predictions. Or the problems are simply too complex. But AIs can do this. AI token recommendation is building a decentralized foundational model of crypto, which has been applied in AI-generated token recommendations derived from on-chain behaviors. Currently, their large graph neural network (GNN) uses on-chain behavioral data to estimate the alpha probabilities of various tokens. GNNs are a class of AI models designed specifically to process data represented as graphs, making them useful where data is interconnected with a relational structure, such as the p2p transactional networks of blockchains. Pond Dither is another token recommendation AI with a token-gated Telegram alert bot that takes a time-series modeling approach to the token recommendation. Solving the thin markets problem One of the main challenges facing prediction markets is that the markets are too thin to attract enough players and volume. But there is a major difference between the prediction markets of the 2010s vs the 2020s, and that is the . As Vitalik points out: possibility of ubiquitous participation by AIs To add, it’s possible to the automated market maker (AMM) models underlying prediction markets. For example, an of over 2 million transactions on Polymarket identified problems with liquidity provisioning in converging prediction markets using the traditional constant product AMM (x*y=k), including: improve analysis As prediction markets converge (i.e., as the outcome becomes more certain), LPs are incentivized to remove their liquidity. because the risk of holding “losing” tokens increases. For example, in a market converging toward “yes,” the “no” tokens become less valuable (i.e., impermanent loss), posing a risk to LPs who might end up with worthless tokens if they don’t sell in advance. Convergence and liquidity removal. This is rational behavior This reduction in liquidity can lead to less accuracy and more bias as prediction markets converge. Specifically, in the volume-weighted price range of 0.2 to 0.8, ‘no’ tokens are often underpriced, and ‘yes’ tokens are often overpriced. Bias and inaccuracy. To address these issues, the authors propose a “ liquid market maker” (SLMM) model and demonstrate that it can increase volumes and accuracy in converging prediction markets. It does this by introducing a concentration function into the model (a la Uniswap v3) in which LPs provide a liquidity position that is only active for specific price intervals. The result is reduced risk exposure, ensuring that the number of valuable tokens (e.g., ‘yes’ tokens in the market converging to ‘yes’ outcome) held by LPs does not converge to zero as prices adjust, unlike in the constant product AMM. smooth LP-trader tradeoffs There is a balancing act that must be reached when choosing a concentrated liquidity AMM variant like the SLMM for converging prediction markets. While you’re trying to reduce risk for LPs, you end up disincentivizing some trading activity. Specifically, while concentrated liquidity can make it less likely that LPs lose out as the market converges on a sure outcome (thus reducing premature withdrawal), it may also reduce trading opportunities to profit on small price changes (e.g., like moving from $0.70 to $0.75) due to increased slippage, especially for large orders. The direct consequence is that traders’ potential profit margins are squeezed. For instance, if they expect a small price move from $0.70 to $0.75, the slippage may limit the capital they can effectively deplore to capture the expected upside. Looking forward, it will be important to trial various adjustments on the tradeoff term in these market-maker formulas to find the sweet spot. Conclusion The prediction market primitive is a powerful one. Of course, like any other crypto primitive, it faces challenges, but we are confident that they will be overcome. As they are gradually overcome, we can expect to see this primitive reused to answer all sorts of questions in a wide variety of digital contexts. With advancements in targeting and liquidity solutions, we can expect the development of niche prediction markets. For example, take X (formerly Twitter) users: Will X introduce a Premium++ or equivalent by the end of the year? Will X make the edit tweet feature available to all users by Q3? Will X report an increase in daily active users in the next quarterly report? Will X’s advertising revenue increase or decrease in the next quarter? Will X announce new major partnerships with content creators by the end of year? Will X release a blockchain or cryptocurrency-related feature by Q3? Interestingly, these questions don’t need to stay confined to standalone prediction market websites. They could be integrated directly into X or other platforms via browser extensions.  We may start to see micro-prediction markets pop up regularly in our everyday online experiences, enriching ordinary browsing with speculative trading opportunities. I intentionally wrote some of the questions above and asked ChatGPT to write the others. Which did I write, and which did the content creator AI write? If it’s hard to tell, that’s because ChatGPT’s content creator AI is already really good. So are the information aggregation AIs and recommendation engines built by other Big Tech (look at the ads Google and Instagram feed you). While matching the performance of these models will take work and time, they demonstrate the feasibility of these AI categories. The main open question lacking precedent is more in the direction of liquidity allocator AIs, AI players, and the development of self-improvement and goal-directedness in AIs – the evolution from basic machine learning to verifiable AI agents. If you’re building in these spaces or this post resonates with you, do ! reach out Relevant Reading Buterin, V. (2024). . The promise and challenges of crypto + AI applications Rein Y. Wu, et al., Intent-centric Prediction Market with AI and Web3 Technology, Blockchain - Pioneering the Web3 Infrastructure for an Intelligent Future, 2024. Kapp-Schwoerer, L. (2023). . Improved Liquidity for Prediction Markets Author Affiliation Hiroki Kotabe is the Research Principal at Inception Capital (formerly OP Crypto). Inception Capital is a first-check venture fund focusing on early-stage web3 startups and emerging fund managers. Since raising $50M for Inception Venture Fund I in September 2021, they have been at the forefront of the industry, investing at the earliest stage in over 30 projects, such as Scroll, Merit Circle, Avalanche, and Celestia. Their $30M Inception Fund of Funds has invested in web3 funds like Orange DAO, Escape Velocity, Alliance, Syncrasy, and Everyrealm.

The Prediction Market Primitive: Using AIs to Create Prediction Markets at Microscopic Scale

https://youtu.be/V2ciagItiqI?si=bCJSIS9lJwJSk04A&embedable=true In the presentation below, Sasa Milic, an independent researcher, presented on oracle hacks that have occurred in the past two years and the various conclusions that can be drawn from them. Below is a glossary of key concepts mentioned during Sasa’s talk, intended as a supplement to her video presentation. WHAT IS A BLOCKCHAIN ORACLE? Native blockchain data (e.g., ownership and transfer of tokens) are validated by every node in the network. This validation process makes the network tamper-proof (except in the case of a ). However, a consequence of this tamper resistance is the limited access to external data sources, since such data—and its transmission—can be easily tampered with. 51% attack To create complex blockchain applications—beyond simple token transfers—you need access to external data. For example, most decentralized finance (DeFi) applications require price data (e.g., to get a or keep a stablecoin pegged to 1 USD). Indeed, asset prices are still the most common type of data generated and processed by blockchain oracles. strike price WHAT ARE ORACLE HACKS? Oracle hacks occur when attackers exploit vulnerabilities in the design or implementation of Oracle networks. In such a hack, the attacker usually manipulates the oracle to feed incorrect data into a blockchain contract. This often leads to funds being erroneously transferred, typically to the hacker’s account. The core of these attacks lies in compromising the data integrity that smart contracts rely on, resulting in financial losses or other disruptions. At the beginning of her presentation, the speaker clarifies that most of the losses attributed to Oracle hacks are actually due to market manipulation attacks rather than a flaw in the Oracle design. Sasa divides Oracle hacks into two significant categories: statistical/data errors or errors in integration. CONFIDENCE INTERVALS Confidence Intervals refer to a range of values used to estimate the true quantity of a particular parameter. These values are accompanied by a percentage, typically ranging from 95% to 99.9%, that represents the degree of confidence in that interval. An example of a confidence interval is an estimate of the price of Bitcoin as [$29,504, $29,507] with a 99% confidence level which means that the publisher is 99% confident that the price of Bitcoin at that time will fall between the given values. Some oracle protocols, like , require price publishers to provide a confidence interval report to build transparency and confidence. Pyth OUTLIER DETECTION AND REMOVAL MECHANISMS Outlier detection, also known as anomaly detection, refers to the various techniques and processes used to identify and eliminate outliers in data. Outliers refer to data points that significantly deviate from the data pattern. For instance, if an oracle provides price data to be $100, $101, $200, $99, $102,$10, and so on, $200 and $10 should be flagged as outliers. Outliers are identified by applying statistical methods to remove data points that exceed pre-defined boundaries. Outlier detection mechanisms are crucial because they improve data integrity and reduce biases, though the speaker questions their effectiveness in the context of oracle networks. ORACLE AGGREGATION FUNCTION Oracle Aggregation Function refers to an algorithm that plays a crucial role in improving the quality of oracle data by combining multiple data inputs from different oracles into a single, aggregated value. Some of the most popular algorithms used are Median Price Value, Volume-Weighted Average Price (VWAP), and Time-weighted Average Price (TWAP). The last two are becoming increasingly popular because they are more manipulation-resistant. VWAP calculates an average price based on trading volume, where sources with larger trading volume weigh more than others, while TWAP calculates an average price based on time intervals. This on Chainlink’s blog details the differences between TWAP and VWAP price aggregation. article DISPUTE PERIODS Dispute periods are specific time frames during which participants can challenge the validity or accuracy of data provided by oracles. It is a natural step after data aggregation to resolve suspected technical errors, inconsistencies, or manipulations. These disputes are eventually resolved through voting or an arbitration protocol like . is an example of a two-tiered oracle network that has a second layer for dispute resolution. Kleros Chainlink 2.0 SANITY BOUNDS Sanity bounds, also known as sanity checks, are pre-defined thresholds or limits used to validate the data provided by oracles before it is accepted for aggregation. It is an example of outlier detection mechanisms utilized by protocols. These bounds ensure that the price data falls within reasonable and expected ranges. If the data provided by an oracle lies outside the sanity bounds, it is considered invalid and is not included in the aggregation process. This discusses the use of sanity bounds as a manipulation mitigation method for price oracles. article Connect with Sasa Millic: LinkedIn Twitter Medium Youtube The Blockchain Oracle Summit is the world’s only technical summit that dives deep into the use cases, limitations, and impacts of oracles on the wider blockchain ecosystem. Leading speakers worldwide gathered in Paris to share their work and experience building and using oracle solutions. Article by . Michael Abiodun Also published . here

Understanding Vulnerabilities and Safeguards in Blockchain Oracles

ডিকোডিং ওরাকল হ্যাকস: ব্লকচেইন ওরাকলে দুর্বলতা এবং সুরক্ষা বোঝা

Oracle-Hacks entschlüsseln: Schwachstellen und Schutzmaßnahmen in Blockchain-Oracles verstehen

Decodificando trucos de Oracle: comprensión de las vulnerabilidades y salvaguardas en los oráculos Blockchain

Décoder les hacks Oracle : comprendre les vulnérabilités et les garanties dans les Oracles Blockchain

डिकोडिंग ओरेकल हैक्स: ब्लॉकचेन ओरेकल में कमजोरियों और सुरक्षा उपायों को समझना

Oracle ハックの解読: ブロックチェーン オラクルの脆弱性と保護策を理解する

Oracle 해킹 디코딩: 블록체인 오라클의 취약점 및 보호 장치 이해

Decodificando Oracle Hacks: Compreendendo Vulnerabilidades e Salvaguardas em Oracles Blockchain

Расшифровка хаков Oracle: понимание уязвимостей и мер безопасности в блокчейн-оракулах

Oracle Hack'lerinin Kodunu Çözmek: Blockchain Oracle'larındaki Güvenlik Açıklarını ve Korumaları Anlamak

Giải mã các cuộc tấn công của Oracle: Tìm hiểu các lỗ hổng và biện pháp bảo vệ trong Blockchain Oracles

解码预言机黑客：了解区块链预言机中的漏洞和保护措施

Innovating Identity Verification: An Introduction to Proof of Personhood (PoP) Protocols

https://youtu.be/WqxQT_5kVck Gone are the days when big tech companies like Meta decide when and how to monetize your personal information. Or are they? With the advent of blockchain and web3, the technical capabilities may be out there – but how exactly do we onboard a critical mass of everyday users? How do we speed up the journey towards a truly “DeData” world? From permissionless social media platforms to decentralized, self-sovereign  identity (DID), web3 technology has the potential to completely transform the way data is owned and used. Users finally have the opportunity to take back control of their data. We sat down with Dylan Dewdney, co-founder and CEO of DeData Studios to talk about his vision and inspiration for the project, as well as his highlights from the inaugural event that was hosted during Berlin Blockchain Week in September this year. DeData Salon What is DeData? DeData, which stands for “Decentralized Data”, is a concept describing an ideal world, where individuals enjoy full control over who can access their personal information. In order to on-board the masses to web3, the same virtual goods and services – from e-commerce to social media – need to be provided by web3. Speaking to the Oracle Summit team, Dylan said that DeData Studios is working towards accelerating the transition into the ideal self-sovereign data world, by providing a full suite of easy-to-use Web3 middleware infrastructure. “Think of it like the AWS of Web3,” he said. The projects that make up the consortium include , , and , with two more projects in the pipeline –  Glacier and Canyon. Kylin Network, a data L1 and oracle network on Polkadot, was an Oracle Partner at the Blockchain Oracle Summit: Berlin. NFT3 Kylin Ruby Vinci Inspiration for a “DeData World” Dylan’s inspiration for DeData came from more than a decade of experience in the blockchain space. He first discovered Bitcoin in late 2011, and then got into mining by late 2012. Living in Toronto, he was able to be close to the Ethereum founding team, and was part of the Ethereum ICO. By 2017, he started building. Dylan’s first project was Harbour DAO, alongside his co-founder at the time, Dean Eigenmann. He was then part of the GTM strategy for Beam and later Head of Growth for Ambire (formerly AdEx) before co-founding both Kylin Network and NFT3. Kylin is a Layer-1 data blockchain, built on Polkadot that features an innovative, configurable data oracle. While many oracles focus on transmitting price data, Dylan’s work at Kylin involves verifying non-price data from the outside world on the blockchain. Through this work studying the movement of real-word data on-chain, Dylan noticed that while there were many needs in the decentralized data economy that were not yet met – even the basic tools developers need to meet these needs are not readily available or easy to use. Enabling a Decentralized Future for All And this is where DeData Studios comes in, providing developers with the tools and middleware needed to on-board the masses to web3. While it might feel, at times, that every web2 company has to interface with web3 in some way to stay relevant, it is still no easy feat. Most of these organizations are constrained by limited business models and convoluted bureaucracy. Training departments of thousands of developers to become Web3 native could take a generation. Replacing entire technical teams with full-stack developers would cost a bomb. So, the products developed by DeData Studios have been built with the needs of non-Web3 native organizations in mind. Each project in the DeData consortium features plug-and-play software development kits (SDKs), that can be leveraged in a modular fashion based on specific use cases. As big businesses start adopting Web3 technology, so will their users. This is how DeData Studious plans to contribute to a more decentralized future. A Salon for Intellectuals Beyond tools and infrastructure, the DeData movement also involves education and collaboration. In September this year, DeData produced the first ever DeData Salon during Berlin Blockchain Week. The idea behind the event was to recreate the 18th Century Salon with a modern twist. The main aim was to gather leading minds in the industry to discuss their work and share new ideas in a relaxed setting. Anyone working on decentralized data in any way or form was invited to participate, including projects that could be seen as DeData’s ‘competitors’. Asked about why potential competitors were included, Dylan said that, collaboration is far more productive than competition. “The Web3 data sovereignty narrative is still brewing, so it’s important to convene together, share resources and work together towards this common goal and I’m happy to commit our resources to building this new future together”, he said. The DeData Salon @ Berlin Blockchain Week Dylan’s vision came to life during Berlin Blockchain Week this year with the DeData Salon attracting almost 200 builders and professionals working at the forefront of decentralised data technology. Among protocols in attendance were DeFi heavyweights, and . The inaugural Salon also attracted the likes of , and multimedia giants . The speaker list was even more impressive with presentations from over 20 subject matter experts from around the world, including , and . Curve Balancer Affinidi Polygon Tencent iExec Kleros IPFS An obvious personal highlight for Dylan at the salon was with whistleblower Edward Snowden. The hour-long discussion centered around the architecture of the internet today, and how it could be improved to benefit and protect everyday people and their data. Members of the audience got the chance to pose questions directly to Edward Snowden after the session, which was moderated by Mindaugas Savickas, GM of Ruby Protocol. his virtual fireside chat With such a stacked program, however, it was difficult for Dylan to identify just one highlight. Below is a list of his favorite moments from the rest of the day. The General Manager of Ruby Protocol, Mindaugas, kicked things off with his talk on the importance of data sovereignty and how Ruby is improving the efficiency of on-chain data management. : Ruby Protocol’s Presentation : Co-founder and CEO of , Evin McMullen sat down with the co-founder of , David Phelps, to talk about her experience building decentralized data applications for real-world use cases. This philosophical discussion covered the potential of DeData technology and the challenges faced in generating mass adoption. Evin is also an Advisor to DeData Studios. Fireside chat with Evin McMullen Disco XYZ JokeDAO : Founder, Bruce Pon, presented key lessons learnt from Ocean’s work powering the decentralized data economy over the past decade, and what the team hopes to achieve moving forward. Ocean’s Presentation Ocean Protocol : Former Diem executive and current COO at , Kurt Hemecker, provided insights into Mina Protocol’s use of Zero-Knowledge Proofs (ZKPs) and the unique use-cases that can benefit from the privacy that the layer-1 protocol provides. Mina Foundation’s Presentation Mina Foundation : Lukas Bresser, head of ecosystem growth at shared his perspective on the role of IPFS and in shaping the future of the data economy. He presented on the different use-cases of IPFS and how the decentralized storage system was designed to completely replace the HTTP protocol. IPFS Presentation IPFS Filecoin : Both panel discussions from the day rounded up Dylan’s list of highlights. featured an interesting balance of philosophical and technical insights. The session touched on the true meaning of data ownership, as well as the potential and risks associated with decentralizing the control of data. The panel featured Amelia Guertin, COO of , Garry Krugljakow, Founder & CEO of and LDF, Head of Partnerships at . The discussion was moderated by Bianca Buzea, Developer Relations Engineer at . Panel Discussions Panel 1 Bundlr Network 0VIX Disco XYZ Balancer , moderated by Editor-in-Chief, Kristina Lucrezia Cornèr, was a lively discussion about the key socioeconomic differences brought about by Web3 and the advantages and disadvantages of decentralized technology. The panel featured Paul Claudius, Co-founder of , CTO of , Hoon Kim, Matt Gubriel, Growth Manager from and Riccardo Lamanna , Founder of . Highlights from this panel were also featured in . Panel 2 Cointelegraph DIA Astar Network Redstone Finance OpenQ this article by Cointelegraph The inaugural DeData Salon is just the first of a series of Salons that DeData Studios plans to host as part of their commitment to accelerating our journey towards a fairer future for all.  Look out for the next Salon taking place in a city near you! Finally, how can one participate in the burgeoning “DeData” world? According to Dylan, it isn’t daunting or difficult at all. Anyone interested in decentralisation in any way or form can start by educating themselves on the different projects and ideas that are out there. that took place during the DeData Salon could be a good start. Then get to know the different communities a little better by following your favorite projects on Twitter and participating in their Discord channels. Watching the different conversations Asked how everyday people can participate in the DeData movement, Dylan said nothing is more valuable than participating in and stress-testing the latest products. “Take your first steps into the world of decentralized identity (DID) by creating your very own NFT3,” Dylan said. Find out more about the . NFT3 Pass here Keep up to date with all the latest from DeData Studios, including new products, salons and more: DeData Website DeData Twitter DeData Youtube Dylan Dewdney Twitter

DeData Studios: Helping Users Take Back Control of Their Data

The creator economy, emerging online trends, and new crypto economies are pioneering more opportunities for creators to capitalize. Various platforms, protocols, and digital marketplaces are all competing for the attention of users and the creativity they provide. This is spearheading a high level of independence and entrepreneurial mindset, especially within the younger digital-native Gen Z generation. Crypto economies are shaping the future of work for the next generations of creator economy participants. There is now a variety of “to-earn” models impacting the way users create, consume, play, learn, socialize and identify themselves. While all of the models have the underlying factor of ownership as a well-known driver behind the emerging economies, the main purpose of all models is to help users monetize by converting human input into capital. “It is the democratization of economic empowerment on a scale we have not previously witnessed”, as Stephen McKeon begins to explain the future of work “You will probably work for a protocol someday.” Play-to-earn - Players own the game Play-to-earn business models for games have exploded and are the first well-known “to-earn” concept that has shaken up the crypto economy. The most played games that have blown up in the crypto scene include: Axie Infinity, Alien Worlds, RONIN, Splinterlands Hive, Bomb Crypto, Sunflower Farmers, Upland, DeFi Kingdoms and . more Gamers can “earn” the in-game currency or receive in-game assets by engaging and participating in the in-game economy, while also having ownership of their in-game assets. Players are able to “own” and “earn” anything that has value within the game, such as the land, the characters, the skins and in-game currencies. It is more of an economy than a traditional game. The more players play, the more value is derived in the use of the assets or tokens within the game. The monetization opportunity motivates the players, whether it's a native token, an existing cryptocurrency, or NFT that is being earned. For the first time, game developers are uncovering a new form of relationship with the players of their game. Developers are forming a partnership with their players, as developers need to design play-to-earn economies that truly make players interested to spend time within the game and make them want to hold valuable assets and distribute them in trading. Developers can benefit from transactions within the game, value growth of their tokens, or even by displaying ads to players. The key factor is attention. As long as players spend a lot of time, the developers will be able to make their profits while also empowering their players. Move-to-earn The next trending “to-earn” model that has made noise within new crypto economies is the “move-to-earn” model that is incentivising people to monetize their health and sports activities, by moving around to earn tokens. Instead of users participating in games to earn money, they can participate through physical activities, such as jogging, to earn. This is made possible through collecting data and body activity, whether through a smartwatch or smartphone and using this to determine the conversion for in-app assets. Arguably the first popular game playing with the concept of incentivizing movement was Pokèmon Go, which required users to have to move outside to various places to capture Pokémons through GPS tracking and augmented reality within their phones. had even shown that Pokémon Go made people walk 2,000 more steps on average. Studies Through crypto economies, users are able to actually monetize their movement. It would be somewhat analogous to Pokèmon Go giving users full ownership of the Pokémons in the form of NFTs, which they could then trade to earn. , a project founded in 2018, was one of the first applications that paid its users digital currency to exercise. There are other popular crypto fitness projects that have showcased the growing interest in walking, jogging, or running to earn. One example is , where players can collect digital pets and earn XP as they move, which is required to further nurture, battle and evolve their pets for increased value. Another well-known project is , where many users have shared their success cases, such as earning up to . SweatCoin Genopets StepN $357 from walking in a day is a next upcoming fitness project that is creating a gamified metaverse for the fitness economy. FitFi and “move2earn” combine both the fitness and gaming industry, having physical experiences connected to digital experiences within the metaverse through NFTs and geo-location, including AR for immersion. The Step App has multiple token emissions with FITFI, a governance token, and KCAL, the in-game token being earned. Unlike STEPN and Sweat Coin, Step App has also announced a plan to build a software development kit that provides others with tools to build within its metaverse. The Step App has also announced a “dance-to-earn” partnership with festival. Step App UNTOLD Overall, the “move-to-earn” model often requires an upfront investment by purchasing an NFT sneaker that is required and used to track the movement and earning potential. There are also other ways for users to leverage the to-earn model cheaper by renting the NFT sneakers and profit-sharing the outcome between other players. More concepts around health and gamification are still developing, such as meditate-to-earn or sleep-to-earn. A larger interest here is to gather health data and enable participants to monetize their own data. Create-to-earn The Creator Economy boom is continuously growing with an estimated market size (as of May 2021). The creator economy encompasses content creators, curators, bloggers, videographers, vloggers, influencers and any other type of creation around content that is monetized directly or indirectly on platforms that distribute it to communities. $104.2B Audiences and users on platforms, especially social media have grown rapidly, with more than half of the world now using social media and alone 424 million new users coming online within the last 12 months. This gives creators an even bigger opportunity to reach more people and monetize their content or creativity. However, until now there has been a sub-optimal setup on platforms for creators, as Mario Gabriele explained: (58.4%) 4.62 billion people “Top creators often produce far more value for the platform on which they operate than they can capture.” Game developers contribute on platforms like Roblox by creating virtual experiences for their player communities, creators providing content daily for entertaining communities on YouTube, Twitter, Instagram, Facebook, Twitch and TikTok - so many platforms are leveraging creators who bring attention to them and are able to monetize this attention through advertisers. Yet the cut of ad revenue share or profit share the creators receive is small and creators are often forced to turn to sponsorships or ambassadorships off-platform to really make a living. Crypto economies are now developing incentives and new opportunities for creators to earn income through creative labor. There is especially one type of content that is interesting when looking into the “create-to-earn” model. It is word-of-mouth content. This is because it is a type of user-generated content (UGC) that is about brands, mainly product/project recommendations and provides interest for advertisers to pay creators directly for using the content instead of non-converting ads. has developed a tokenized monetization model to reward creators for authentic recommendations and enable advertisers to pay into the system to utilize and boost the content of their brands. This is made possible through the decentralized WOM campaign manager that lets advertisers discover their brand fans, run campaigns with their content, or showcase the recommendations in their websites for social proof. The protocol can be integrated into any website, platform, or app and is currently live in the , known as TikTok for web3-related videos. WOM Protocol BULLZ app Other projects incentivizing content creation include: , where users can upload music tracks, curate playlists and earn AUDIO tokens for traction and even , who announced that it's working on expanding its Community Points crypto token rewards initiative to reward participants in subreddits with tokens that can be used to pay for membership, tipping, and badges in the Reddit app. Audius Reddit Judge-to-earn / Rate-to-earn / Vote-to-earn Judge-to-earn, rate-to-earn or vote-to-earn are monetization models emerging through the need of qualitative information when coordinating larger decentralized networks. The judgment tasks can include curation, risk assessment, dispute resolution, appraisal, reputation and any other tasks that are subjective, where people serve as judges but in a mass can provide a comparatively objective output. As Stephen McKeon mentioned, “we will see the rise of subjective oracles”, especially as smart contracts will need soft information that can only be delivered through the judgment of people. Emerging projects encompassing the application of judge/rate/vote-to-earn: -  Decentralized governance or dispute resolution: , , , Aragon UMA Protocol Kleros Bribe -  Curation: , where audiences can watch and rate content for a quick quality check to help filter out valuable product or project recommendations, and and working on decentralized curation for NFTs. WOM Protocol’s WOM Authenticator App SuperRare JPG -  Contribution/Participation rewards: Coordinape -  Subjective appraisal: for peer-prediction models on NFT valuation. Upshot Watch-to-earn Another well-known monetization opportunity is the “watch-to-earn” model, that rewards users for their attention, whether it is watching Youtube, such as which goes as far as unlocking further content when users have earned enough of the dedicated tokens, or earning by watching ads, such as . In addition, has announced its focus on “watch-to-earn” rewards for its 105 million users. Xcad Network Brave rewards Coub Learn-to-earn The concept of incentivizing people to learn is a new paradigm shift away from the traditional education business model that was predominantly “pay-to-learn”, where students had to cover the education costs. However, a LinkedIn Workplace Learning report showed that “46% of L&D leaders said upskilling or reskilling was a top focus area this year”. This is arguably coming up as new innovations and skills are fueling the need to up-skill labor and in some cases even unlearn previous methods that are just outdated over time. recent More larger corporations are offering their courses or onboarding to their tools for free. For example Google, having their whole suite of courses available to anyone willing to learn.  “Learn digital for free of cost.” - Is their tagline for promoting their courses. Many students were motivated to learn with the incentive of being attractive in the job market and potentially getting a paid job. The crypto industry is expanding the concept by incentivizing learning in a new “learn-to-earn” model that gives the student more “skin in the game” when they actually get to own part of the value they provide by learning something new. This is analogous to Google giving you a few shares of stock for learning how to use Google Analytics. As Seth Godin has once shared: “the internet is the greatest self-teaching resource ever developed, but few take advantage of it because it doesn't come with a motor.” The “learn to earn” model provides this motor through monetary incentives that are clearly connected to required participation or actions. Crypto protocols are willing to directly sponsor the learning and onboarding process to their technologies as they are in need of talent and overall proving a product market fit of users who really use their protocol. is one example of a project that helps users get rewarded when finishing specific tasks of various protocols/projects. By rewarding users to learn new skills and onboard protocols of which they receive a part of ownership, the protocol also increases in value by growing their network, a win-win for both parties. Now even exchanges and price-tracking services are looking into facilitating “learn-to-earn” by partnering with crypto projects, such as , , , and many more. RabbitHole Coinmarketcap Coinbase KuCoin In addition, Animoca Brands announced its plan to add education to its multibillion-dollar NFT and gaming business: “As the crypto ecosystem continues to implement new ways to earn rewards, Siu said he hopes to drive the teacher economy with a “learn-to-earn” or “teach-to-earn” model, so both teachers’ and students’ time can be rewarded in the form of a token or cash.” - This also shows an interest in finding a way to reward educators, not just the students. source Wear-to-earn With the rise of metaverses and world shifts of physical to digital, the global fashion sector will not be spared. Many fashion brands such as Gucci, Ray-Ban, Louis Vuitton, Nike, Adidas are already moving into the NFT space introducing virtual wearables. Soon, users will be able to leverage digital fashion in virtual worlds, or in real-life through augmented reality. 3-trillion dollars Wearing or using NFTs within those environments is becoming an upcoming monetization model to provide further utility to NFTs. AKINGS rewards NFT holders every time they “wear” their fit in virtual worlds or in online games. This could unlock a future where brands will send users an airdrop of their virtual currencies, or offer power-ups, or new limited editions, for wearing their skins or digital collectibles. AKINGS Future monetization Digital technologies combined with crypto economies are reshaping the future of work. It looks like we will see a multi-currency future within the gig economy that empowers people to do various tasks and earn. Whether there will still be people working for only one organization is probably up to individual preferences but the opportunities are there to leverage multiple income streams. All of the “to-earn” models should be looked at in depth and valid questions to ask are: Why should those actions be rewarded financially? There needs to be a clear value system to have a feasible model. Who is actually paying into the system? Or “ where is the money coming from?” There needs to be a clear “employer” to have a sustainable model. Interestingly the “to-earn” models have started from a gaming environment and as Chris Dixon famously wrote, “the next big thing starts out looking like a toy.” Are you ready to play with the new ideas of making money?

How Crypto Is Changing The Gig Economy

Cómo las criptomonedas están cambiando la economía de los conciertos

Comment la crypto change l'économie du gig

कैसे क्रिप्टो गिग इकॉनमी को बदल रहा है

クリプトがギグ経済をどのように変えているか

Como a criptografia está mudando a economia do show

Cách tiền điện tử đang thay đổi nền kinh tế Gig

加密货币如何改变零工经济

I think we all started the decentralized/blockchain project thinking we could change the world. We intended that it would be free, egalitarian and full of leisure. No more centralized governments or corporate overlords, we would all have a say and all the access to resources and of course, all the money. It has been over 13 years since Bitcoin and about 7 since Ethereum (that’s not long really) started and we have become the new CDOs (Derivatives) for Wallstreet to gamble on. We have lost our way In 2017, all that time ago, the original guides to Solidity on Ethereum’s site were for Basic Income, Crowdsourcing (that became ICOs), and DAOs - direct democracy. ICOs took off but where are the UBI and global democracy since then? Just like .com the ICO become the dominant use for crypto because it resembled the previous order. The order we were trying to disrup... Revolutionize. We still have the tools so we can still make the new world we imagined. Here’s a plan We create an Integrated decentralized Guaranteed Income (GI) of 30k (K30,000), with a fully-scaled “ice” (solid liquidity) stable coin, face recognition based verification of unique identity  + Arbitration based objection to weed out fake accounts. Demurrage and flow siphon (transaction tax) to control inflation/deflation. Automated self-lending (DeFi) service, coin/token/fiat exchange, And social money for civic organizations (true global democracy). Decentralized Any decentralized engine can be used provided it does not use Proof-of-Work (PoW) because that is a waste of energy and it kills the environment, or Proof-of-Stake as it leverages wealth onto power and responsibility and relies too much on game theory to be trusted. It would be preferable to create a decentralized system from scratch or use a Virtual Machine for an existing system. It is important that the system protocols are set in place at the start, you know it and can rely upon it. No politician or corporate raider can change the rules or grab your data for their own purposes. The code for all that on top of the Decentralised engine will be open source so if you find this system wanting you can copy and paste the code and then tweak it for a new system. Universal Income This will be tiered based on the period (time) of no objection to unique personhood. First-year is 3,000 (Newbie), the second 10,000, third is the full payment of  30,000 per person per year paid daily (Citizen). Once you get through the first 3 years you will be a citizen. It would be nice to give all access to everyone at the start but that is not our world, a world of Twitter bots and fake news, and Facebook, and Chinese internet armies. Stale Account Citizens must: All citizens will need to select what will happen to their money/debts/assets at death and or the cessation of their account, and how this will be determined (cessation may be determined by failing identification test/s). This is essentially writing a will when you become a citizen. Another citizen will need to be selected to receive the account balance, debts, assets, etc. The Citizen will need to accept the responsibility of a ceased account. If you cannot find someone to accept your ceased account, your borrowing from the Credit system (see below) will be limited to tier 2 and any debt annulled on cessation; and post-cessation the ability to open a new account other than newbie will be voided. A citizen must appoint a citizen or a decentralized Oracle that is not in the “will” to determine death or permanent abandonment. If the Oracle disappears before the user does it will be referred to arbitration. Simply, citizens must choose an Oracle/Citizen to determine their circumstances. And, other citizens to receive their money, debts, and assets. Akin to appointing an executor, and beneficiaries. Stable Coin An automatically adjusted coin based upon an index of fiat currencies compared to gold. A quorum  (the greater of 3 or 10% of active Oracles – an Oracle may switch on or off activity) will need to enter the exchange rate values they see daily using whatever external means they see fit and the median value will be taken for the daily adjustment. If a quorum cannot be reached the value remains as it was. This adjustment will occur when a new day begins at the international dateline. At some point in the future, the coin will be traded for gold as much as the fiat currencies in the index. 12 months after this point the scaling can be abandoned. Simple Scaling  - Ice (stable liquidity) The Base coin is fully scaled in comparison to a weighted index of fiat currencies (USD, GBP, Euro, Yen, AUD) in reference to  Gold. Coin  = to Base Coin x scale_factor (ratio) Transaction: If you receive a payment today a Base would be derived by dividing the Coin by the scale factor at the time of the transaction. This new Base is added to previous Base amounts and your balance is the Base x the new scale_factor. The scale_factor is published daily and accounts are adjusted accordingly. Scale_factor = (1/price of the base coin in relation to an index) Index = Weighted USD, EU, GBP, Yen, AUD against gold Essentially if the price is low you get more money, if the price is high you get less. The assumption is people will trade at  1 to 1 for ease of use as it doesn’t matter what price you buy and sell as the purchasing power remains the same. Example: Say the coin is worth 0.5 Fiat Your account has 2 base Coin, therefore, your account balance is 2 x (1/0.5) = 4 So you can buy exactly two fiat currencies. Someone holding a fiat currency (there will be arbitrage between the fiats) can buy 2 Coins for 1. 1 Coin worth 2 Fiat Your account has 50 base Coin, therefore, your account balance is 50 x (1/2) = 25 So you can buy exactly 50 fiat currencies. Someone holding a fiat can buy 2 Kratia for their 1 This is a novel and incredibly simple way of doing stable cryptocurrency which never changes supply but equalizes purchasing power. If the currency is close to worthless (say 0.01) you have a  lot more, if it’s worth a lot (say 10,000) you have less. There is no point in buying or selling the currency at any price point other than 1 to 1. *The Brazilians did something similar with a virtual currency to control inflation in the 1990s. It became their current currency. Essentially they had a currency pegged to USD virtual currency so that all wages and prices were quoted. The Govt released the ratio. People quickly stopped upping prices in advance. Inflation Control We are creating much money from nothing so to control the money supply the base is adjusted with demurrage (2.5%), and a small  (1.5%) transaction tax to control velocity. This will stabilize the amount of money in the system. If Coins sit idle in your account they will decrease on a daily basis by the equivalent of 2.5%pa. Every time you transfer a Coin 1.5% will be destroyed. In a perfect system, the demurrage will occur by the second, or millisecond but we will do it as close to this as possible. The flow siphon or transaction tax will make 1.5% of all transactions disappear. So if your seller expects 100 Coins, you should transfer 101.50. If you advertise a sale for 99.00 expect to receive 97.515. This will discourage idle money and non-productive and lengthy supply chains (ie: producer – aggregator –  exporter – importer – wholesaler – distributor – major retailer – micro retailer – consumer), while controlling inflation. The transaction tax will not control High-Frequency Trading (HFT) as most of this is done in separate centralized markets. And as such will not have the transaction tax applied per transaction but only on deposit and withdrawal. This is actually a good thing as currently there isn’t a decentralized ledger system that could handle the number of transactions done via HFT. Verification of a Unique Person To open an account you will just need a simple face recognition test. Anyone can object to another's volition, but only 1 fails per 6 months. If you object, it goes to arbitration and if your objection fails you cannot object again for 6 months. Otherwise, there is no limit to the limits of reason. The arbitration objection Anyone can object to someone's unique personhood, this is then sent to arbitration where randomly (this is different from Kleros where they use staking) selected arbiters decide if the “person” is unique. Any citizen can be nominated as an arbiter and get a small fee. Kleros is currently using something similar and I think there are flaws with the staking. The idea that we trust people to do the right thing first and weed out bad actors afterward has promise on so many levels. Most of all it smooths access. SocialCoin:  extra money for social services You will also get free social Coin that can be redirected to organizations that you support. You will receive 10,000 SocialCoins per year paid weekly. There must be indisputable and embeddable (placed into an algorithm on the ledger) criteria for an organization to receive this extra social money. The account/wallet must not belong to an individual. It must be a collection of unique identities creating a new wallet for which they are responsible. There must be at least 3 wallets attached to the new wallet, and the registry of members must be transparent. It must have a democratic (DAO or liquid democracy) system of governance. One that is embedded in the decentralized system, where all contributors can vote. This must be completely transparent and viewable by all. The wallet (It) cannot send funds to its members. The purpose of the social Coin is to provide Civic Organizations with money and replace current governmental civics. Liquid (Direct) Democracy Liquid democracy should be used to write laws, but not procedures of trade, quality control, and conflict resolution, rather for the rare changes to the Civic Associations management and overriding principles, practices, and policies. Implementation of decisions made should be entrusted to those creators, builders, maintainers, and organizers elected and hired to do so. Also, your allocation of Social Coins is your greatest vote. If the Civic Association is not doing what you want, use your monetary votes (Monetary Democracy) to support another. How it works Choice 1: Monetary Democracy – moving your Social Coin to those Civic Organisations supporting you. Choice 2: A proxy, direct voting, and proposal system. Proxy The purpose of proxying is to speed up the voting process by concentrating power, but also to ensure everyone has had some say in each vote while freeing many people from the effort of analyzing many proposals. If a person does not want to vote on a proposal they must proxy their vote to someone else. Only one vote is proxied (the cost of 1 token). The proxy is secret so the receiver of the vote is not aware whether they are voting for themselves or another and therefore must act on their own conscience. If the proxy also decides to proxy their vote the one (or many) that they have received will also be proxied forward. If a person proxies to someone who has already proxied their vote to them creating a loop an error will appear and they will need to choose another proxy or vote themselves. The proxy availability will end before each vote allowing people to change their proxy if loops occur. The loops may be long. The system is run through a smart contract which will allow the proxy to be canceled at any time, to run unmonitored for any period of time, and allow different proxies for different topics. Proposals Each proposal is broadcast for debate and improvement. Only the proposer can amend the proposal. Once it has been accepted by at least 2 sponsors who must forfeit their own vote (with any proxied votes) and  100 Coins – to prevent many unvetted proposals from being put to the vote. It must then be packaged with an Implementation and Compliance protocol which will be broadcast before voting starts. Implementation and Compliance Decisions are useless if they are not complied with. As part of each proposal, a system of checks and penalties will need to be packaged with them. Most should be embedded in new smart contracts and attached to the payments for building/implementing/maintaining each rule/law. Final Thoughts It is a beginning. Not an end. A simple system that does not rely upon centralized people and engrained hierarchies to provide the things we are used to. It is Democracy – true people power. Also published here.

Cryptosociety 2.0

And how to kill, killer AI! By ( Chief Technology Officer at Nodle) Eliott Teissonniere & ( Co-Founder at Nodle, Science fiction author) Garrett Kinsman - As Civilization rapidly expands off earth, we must ask how we will govern ourselves. With a new space race set off between the US and China, people, cargo, and information will travel across the void. But what does this look like exactly? How exactly will the basic underpinnings of an interplanetary civilization be architected and governed? In our last article we explored how an would operate, and its implications. We also surmised that the economic driver for Martian exploration may not be resources or manufacturing, but simple tax “optimization”. interplanetary financial system The nearly $100 Billion USD that the top six Silicon Valley Giants underpaid in taxes (Amazon, Facebook, Google, Netflix, Apple and Microsoft) between 2011 and 2020, is close to the costs of the entire Apollo Program adjusted for inflation! ( $146.7 Billion 2020 USD, $25.4 billion in 1973 , ). source source As countries band together to make corporations pay their taxes, and the cost of spaceflight reduces exponentially, our push to the heavens begins to look more financially sound. It just might be cheaper to set foot on Mars and declare tax residency there than it could be for an interconnected group of organizations to pay their taxes.  You can write off the expenses as well! Governing Mars as a Tax Haven As the Silicon Valley Monarchy uproots itself from the grounds of San Hill Road and impales itself upon the Martian dunes, questions of interplanetary governance come to rise. Under 1966 The Outer Space Treaty, Mars has been declared ungovernable. “Outer space is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.” Considering the current state of international law, we don't expect the Outer Space Treaty to last long. Historically speaking, almost every land that has been settled upon has been declared independent from the colonizing party. Look at America, Africa, or India. As soon as a Martian colony maintains some semblance of self sufficiency, it quickly declares independence.  Even if a Martian Colony is not independent, there is nothing in the 1966 treaty stating it cannot declare a special economic zone. The Treaty does not even mention the word “tax” once. While the US-China cold war intensifies, we can assume that Martian colonies will be governed by two models, a highly centralized capitalist- communist approach, and a more decentralized capitalist - democratic approach. For this article we will assume that civilization will adopt a blockchain based, democratic decentralized autonomous organization model, also known as a DAO. A DAO brings people together to vote on “proposals” using decentralized technology. Such proposals can do quite a few things and are generally followed by an automated execution, a few non exhaustive examples are below: Funds management: a proposal could suggest spending funds, re-allocating the portfolio of a treasury fund, or even kickstart a colony in the form of martian tokenized bonds Constitutional, and legal management: a proposal could propose to amend a constitution, or a set of bylaws Dispute resolution: a DAO based jury system, like Kleros.io could be put in place in order to resolve disputes and limit escalations Elect Council members: In the case of a representative democracy. Command and Control: Direct and manage international policy and kinetic action. ** ** We suggest leveraging a “one-person-one-vote” governance model in order to  guarantee that each citizen of the colony would have a voice of its own, without falling into the trap of establishing a plutocratic system. Each citizen could be added to a registry tracking their right to vote or not, this registry entry would be tied to their public address used on the local colony’s blockchain used to settle transactions and take decisions at scale. Thanks to the use of , it would even be possible to preserve the privacy of voters and thus limit biases when debating on sensitive proposals. zero knowledge proofs Governance Between Bases International Law is generally more of an art today than a solidified rule of law. The compelling fact about decentralized governance is that it can allow for two opposing forces to exchange without trust. An example would be trading energy for stablecoins. One could imagine governance interoperability standards in place for Decentralized Finance, energy and resource agreements, combat, or even Nuclear Command and Control (assuming civilization is still trapped within the current deterrence theory of mutually assured destruction). We would feel far more comfortable with autonomous, decentralized mutually assured destruction versus the current human controlled model. As civilization is not generally stable, and history is defined by conflict,  let’s assume we end up in all out, interplanetary war. Martian bases will find themselves isolated, at war with each other, and under attack. DAO Threat Modeling Despite the tremendous command and control issues that decentralized governance poses to a real world settlement, there are many non-kinetic attacks that can be played out. We see later in this piece how these attack vectors could be critical to the survival of the human race. : Whichever voting system is supported by the Martian colony, it will need to take in account the risk of vote buying, where extraordinarily wealthy individuals could provide people a monetary compensation for voting in favor of certain proposals. This is another case where the use of privacy enhancing technologies, such as Zero Knowledge cryptography, could improve the status quo by making it incredibly hard to organize vote buying attacks at scale. For instance, it wouldn’t be possible to prove that somebody actually voted for a certain option, thus it would be incredibly hard to verify that somebody actually did the correct vote and later compensate them, which would make the economics of vote buying attacks collapse. 1) Vote Buying, Sybil attacks : But what if your cryptography has underlying problems? While this opinion is highly controversial, during an interplanetary conflict we should assume that our cryptographic primitives may come under attack through backdoors or advances in computing theory. Cryptography is based on one way functions, essentially math that makes information easy to “encrypt” in one direction, but very hard to “decrypt” the output unless you know the right variables. The only issue, as described it best, is that  “none of the functions currently in use have ever been definitively proved to be one-way functions — we don’t even know for sure that true one-way functions exist.” This means that cryptography is not provably secure, it is only “Hard” to attack. With the right computer, some presume that a quantum computer, or even a galactic computer, could create cryptographic vulnerabilities. In addition, some people believe that modern cryptographic standards, which are designed by the same agency created to break codes (The NSA), may have included cryptographic backdoors in the mathematics they selected for common cryptographic standards. Because of this, decentralized Protocols like Polkadot are using non NSA cryptographic primitives (Polkadot even goes so far to describes their reasoning ). Assuming the Internet is still online during an interplanetary conflict, a simple runtime update should be able to solve non hardware based backdoors or cryptographic vulnerabilities (Assuming you can detect such a cryptographic attack is even taking place, and fix it swiftly). 2) Quantum Key attacks Quanta Magazine here Malicious code caused to crash the network could be inserted into a governance or blockchain update proposal. Unless properly audited, could be used to take down or harm the network if voted into effect. 3) Malicious Governance proposals: Another way to attack a DAO is to attack the hardware on which it runs. This can be through hacking, or even backdoors inserted into the hardware itself. Significant work these days is going into securing hardware based voting machines. DARPA is doing some really incredible work here with the , and we are going to assume this technology, combined with open source HSMs, will be integrated into most consumer hardware by the time we are voting on Mars.  With decentralized roots of trust, and potentially billions of nodes, we can make hardware attacks very expensive to perform. 4) Hardware attacks: SSITH Program The Internet as we know it has a fairly centralized key scheme and could be fairly easily shut down. We should assume that some of these issues would be solved when deploying an interplanetary internet (mostly to improve scalability and efficiency). Nonetheless, an angry ICANN could certainly revoke the certificates or change the routing tables of core interplanetary governance components. We hope that ICANN adopts more decentralized governance models (like ENS support) in the future, and they have adopted a during the recent war in Ukraine. 5) Internet attack: neutral stance While NTP has been before, Network time protocol attacks can pose threats to interplanetary governance. The Primary time contributor of NTP is the US Navy. We should assume Mars would have its own clocks, not relying on the US Navy. Interplanetary NTP poses some interesting issues and . 6) Attacking time. weaponized research As DAOs evolve and move off earth, we will begin to see new types of DAOs emerge, and this is where things truly get interesting. Muskian Governance Lord Elon Musk proposed a simple tweak to the classical direct democracy approach, which we will call Muskian Governance. We can modify our democratic governance with a core constitution. This approach then includes proposals that when voted into block are time bound. Amendments to this constitution are proposed in governance proposals (EMIPs) which are then voted upon periodically. These proposals once voted onto place have an expiration date based on the block. After a set number of time (As determined by number of blocks, or decentralized time protocol) the proposal will expire. ** ** Dark DAOs As we mentioned before, Zero knowledge (Zk) voting will be essential to preserving the privacy of individuals participating in governance. The participants, functions and potentially even the existence itself of a Dark DAO can be nearly impossible to detect. Previously we coined the term DAO of Devices, where the DAO itself incentivizes hardware like base stations, sensors or servers to be deployed. Hardware that runs Dark DAOs can be hidden in the form of disposable computers, subsea servers, satellites on Lagrange points, and even base stations on distant planets. Distributing blockchain consensus across space and time creates many challenges in performance, of which we dove into in our previous post on interplanetary finance. Distributing blockchain validator nodes across the solar system would make such a Dark DAO extremely difficult to attack. Autonomous DAOs As Artificial intelligence advances exponentially, we will quickly see humans electing AI as core members of a governance committee. These AIs will submit proposals, and eventually be elected to vote on proposals. There is some incredible based around this concept, and it makes one ponder as to what kinds of proposals and votes that an AI would make in regards to current geopolitical events. anime As a first step, AI would leverage big data to create proposals that humans could then vote on. For example leveraging climate models to propose changes to energy and economic policy. AI and humans could further compete on proposals, with competing AI ranking these proposals and modeling their potential implications. This poses a great possibility of enhancing and improving democratic functions. As systems become increasingly relevant, autonomous command and control become key topics to debate. Distributed AI (multiparty neural networks) is a growing field where many different AI powered “nodes” work together to solve problems. Distributed AI helps preserve privacy by processing data locally, and sharing what is learned throughout the network. Startups are working to bring distributed AI on-chain, allowing AI to participate in trustless, decentralized governance models. The most interesting aspect of distributed AI running on-chain is that it is nearly impossible to kill. autonomous swarm weapons While we are still some years away from general, on-chain AI, we imagine a great amount of conflict brewing between AI governance mechanisms and human controlled elements. How would humans stop an AI DAO, distributed across a solar system or galaxy? Intergalactic DAOs Since the invention of the airplane in 1903, the speed of controlled flight has increased exponentially. As civilization expands beyond our host star, and AI helps us solve , we imagine a space opera of intergalactic DAOs spreading out across the heavens.  AIs governing billions of inhabitants will make peace, and go to battle with each other, and they may not be human controlled. key civilizational issues Due to limitations on speed of light, simply communicating between the closest DAOs could take decades. Without an Intergalactic transdimensional DAO ( ) how will governance proposals be synchronized across the galaxy? Based on the speed of light we might even be able to calculate the size of a DAO could grow before communication breakdowns lead to new ones being formed. History would tell us that even a few days of communication delay can cause empires to fall apart.  Could an AI DAO replicate itself and govern societies across a wide area? see Tachyonic antitelephone We like to think that AI and humans will live constructively towards a common goals of abundance. In order to map our threat model we must have to imagine a malicious AI taking control over a DAO. You cannot simply “pull the plug” on a distributed network with billions, or potentially trillions of nodes. This has given us an interesting topic to speculate upon. How do you go to war with an intergalactic DAO? Our best guess so far is to hack the blockchain itself. We can assume that key nodes will be relatively localized due to speed of light performance limitations.  These would be wise old nodes with centuries of high ranking proposals. If such a system can be compromised, and a malicious proposal can be crafted in such a way to take down the network (Likely with the help of other AIs), then AI based DAOs could be attacked from within. Trustless operating environments and autonomous error recovery would make such an attack truly of epic proportions. We envision a science fiction epic where future elite hackers fly to distant and ancient rainforest temples, on the hunt to locate and disassemble subterranean governance infrastructure. Perhaps the hackers communicate with other compromised nodes within the solar system using a portable, free space optics, x-ray datalink. Such hackers would have to time the attack with the motions of the planets, maintaining line of sight beneath the forest canopy to execute the proposed governance update at just the right time. We liked the idea so much, we contributed to on the idea. a science fiction trilogy Whatever happens, the future of DAOs will be incredibly exciting, as we push what it means to be democratic, spread across space and time.

Intergalactic DAOs and Thoughts on Interplanetary Governance 

Round 6 of Gitcoin Grants has just finished, with $227,847 in contributions from 1,526 contributors and $175,000 in matched funds distributed across 695 projects. This time around, we had three categories: the two usual categories of "tech" and "community" (the latter renamed from "media" to reflect a desire for a broad emphasis), and the round-6-special category Crypto For Black Lives. First of all, here are the results, starting with the tech and community sections: Stability of income In the last round, one was stability of income. People trying to earn a livelihood off of quadratic funding grants would want to have some guarantee that their income isn't going to completely disappear in the next round just because the hive mind suddenly gets excited about something else. concern I raised Round 6 had two mechanisms to try to provide more stability of income: A "shopping cart" interface for giving many contributions, with an explicit "repeat your contributions from the last round" feature A rule that the matching amounts are calculated using not just contributions from this round, but also "carrying over" 1/3 of the contributions from the previous round (ie. if you made a $10 grant in the previous round, the matching formula would pretend you made a $10 grant in the previous round and also a $3.33 grant this round) was clearly successful at one goal: increasing the total number of contributions. But its effect in ensuring stability of income is hard to measure. The effect of (2), on the other hand, is easy to measure, because we have stats for the actual matching amount as well as what the matching amount "would have been" if the 1/3 carry-over rule was not in place. First from the tech category: Now from the community category: Clearly, the rule helps reduce volatility, pretty much exactly as expected. That said, one could argue that this result is trivial: you could argue that all that's going on here is something very similar to grabbing part of the revenue from round N (eg. see how the new EIP-1559 Community Fund earned less than it otherwise would have) and moving it into round N+1. Sure, numerically speaking the revenues are more "stable", but individual projects could have just provided this stability to themselves by only spending 2/3 of the pot from each round, and using the remaining third later when some future round is unexpectedly low. Why should the quadratic funding mechanism significantly increase its complexity just to achieve a gain in stability that projects could simply provide for themselves? My instinct says that it would be best to try the next round with the "repeat last round" feature but the 1/3 carryover, and see what happens. Particularly, note that the numbers seem to show that the media section would have been "stable enough" even without the carryover. The tech section was more volatile, but only because of the sudden entrance of the EIP 1559 community fund; it would be part of the experiment to see just how common that kind of situation is. without About that EIP 1559 Community fund... The big unexpected winner of this round was the EIP 1559 community fund. EIP 1559 (EIP , FAQ , original paper ) is a major fee market reform proposal which far-reaching consequences; it aims to improve the user experience of sending Ethereum transactions, reduce economic inefficiencies, provide an accurate in-protocol gas price oracle and burn a portion of fee revenue. here here here Many people in the Ethereum community are very excited about this proposal, though so far there has been fairly little funding toward getting it implemented. This gitcoin grant was a large community effort toward fixing this. The grant had quite a few very large contributions, including roughly $2,400 each from myself and Eric Conner, early on. Early in the round, one could clearly see the EIP 1559 community grant having an abnormally low ratio of matched funds to contributed funds; it was somewhere around $4k matched to $20k contributed. This was because while the amount contributed was large, it came from relatively few wealthier donors, and so the matching amount was less than it would have been had the same quantity of funds come from more diverse sources - the quadratic funding formula working as intended. However, a social media push advertising the grant then led to a large number of smaller contributors following along, which then quickly raised the match to its currently very high value ($35,578). Quadratic signaling Unexpectedly, this grant proved to have a double function. First, it provided $65,473 of much-needed funding to EIP 1559 implementation. Second, it served as a credible community signal of the level of demand for the proposal. The Ethereum community has to find effective ways to determine what "the community" supports, especially in cases of controversy. long been struggling Coin votes have been , and have the advantage that they come with an answer to the key problem of determining who is a "real community member" - the answer is, your membership in the Ethereum community is proportional to how much ETH you have. However, they are plutocratic; in the famous DAO coin vote, a single "yes" voter voted with more ETH than all "no" voters put together (~20% of the total). used in the past The alternative, looking at github, reddit and twitter comments and votes to measure sentiment (sometimes derided as "proof of social media") is egalitarian, but it is easily exploitable, comes with no skin-in-the-game, and frequently falls under criticisms of "foreign interference" (are those ethereum community members disagreeing with the proposal, or just those dastardly bitcoiners coming in from across the pond to stir up trouble?). really Quadratic funding falls perfectly in the middle: the need to contribute monetary value to vote ensures that the votes of those who care about the project count more than the votes of less-concerned outsiders, and the square-root function ensures that the votes of individual ultra-wealthy "whales" cannot beat out a poorer, but broader, coalition. really A diagram from my showing how quadratic payments is "in the middle" between the extremes of voting-like systems and money-like systems, and avoids the worst flaws of both. post on quadratic payments This raises the question: might it make sense to try to use explicit quadratic (with the ability to vote "yes" or "no" to a proposal) as an additional signaling tool to determine community sentiment for ethereum protocol proposals? voting How well are "guest categories" working? Since round 5, Gitcoin Grants has had three categories per round: tech, community (called "media" before), and some "guest" category that appears only during that specific round. In round 5 this was COVID relief; in round 6, it's Crypto For Black Lives. By far the largest recipient was Black Girls CODE, claiming over 80% of the matching pot. My guess for why this happened is simple: Black Girls CODE is an established project that has been participating in the grants for several rounds already, whereas the other projects were new entrants that few people in the Ethereum community knew well. In addition, of course, the Ethereum community "understands" the value of helping people code more than it understands chambers of commerce and bail funds. This raises the question: is Gitcoin's current approach of having a guest category each round actually working well? The case for "no" is basically this: while the individual causes (empowering black communities, and fighting covid) are certainly admirable, the Ethereum community is by and large not experts at these topics, and we're certainly not experts on working on those challenges. those specific projects If the goal is to try to bring quadratic funding to causes beyond Ethereum, the natural alternative is a separate funding round marketed specifically to those communities; is a great example of this. If the goal is to get the Ethereum community interested in other causes, then perhaps running more than one round on each cause would work better. For example, "guest categories" could last for three rounds (~6 months), with $8,333 matching per round (and there could be two or three guest categories running simultaneously). In any case, it seems like some revision of the model makes sense. https://downtownstimulus.com/ Collusion Now, the bad news. This round saw an unprecedented amount of attempted collusion and other forms of fraud. Here are a few of the most egregious examples. Blatant attempted bribery: Impersonation: Many contributions with funds clearly coming from a single address: The big question is: how much fraudulent activity can be prevented in a fully automated/technological way, without requiring detailed analysis of each and every case? If quadratic funding cannot survive such fraud without needing to resort to expensive case-by-case judgement, then regardless of its virtues in an ideal world, in reality it would not be a very good mechanism! Fortunately, there is a lot that we can do to reduce harmful collusion and fraud that we are not yet doing. Stronger identity systems is one example; in this round, Gitcoin added optional SMS verification, and it seems like the in this round the detected instances of collusion were mostly github-verified accounts and not SMS-verified accounts. In the next round, making some form of extra verification beyond a github account (whether SMS or something more decentralized, eg. BrightID) seems like a good idea. To limit bribery, can help, by making it impossible for a briber to tell who actually voted for any particular project. MACI Impersonation is not really a quadratic funding-specific challenge; this could be solved with manual verification, or if one wishes for a more decentralized solution one could try using or some similar system. One could even imagine incentivized reporting: anyone can lay down a deposit and flag a project as fraudulent, triggering an investigation; if the project turns out to be legitimate the deposit is lost but if the project turns out to be fraudulent, the challenger gets half of the funds that were sent to that project. Kleros Conclusion The best news is the unmentioned news: many of the positive behaviors coming out of the quadratic funding rounds have stabilized. We're seeing valuable projects get funded in the tech and community categories, there has been less social media contention this round than in previous rounds, and people are getting better and better at understanding the mechanism and how to participate in it. That said, the mechanism is definitely at a scale where we are seeing the kinds of attacks and challenges that we would realistically see in a larger-scale context. There are some challenges that we have not yet worked through (one that I am particularly watching out for is: matched grants going to a project that one part of the community supports and another part of the community thinks is very harmful). That said, we've gotten as far as we have with fewer problems than even I had been anticipating. I recommend holding steady, focusing on security (and scalability) for the next few rounds, and coming up with ways to increase the size of the matching pots. And I continue to look forward to seeing valuable public goods get funded! This article was originally published as “ Gitcoin Grants Round 6 Retrospective ”

Reviewing the Gitcoin Grants Round 6

Ishan Pandey: Hi Eden, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind New Order? I’ve been working in early-stage venture development as an incubator and investor for over a decade now. I discovered crypto in 2015 and have spent most of my time in crypto as a Partner and Head of Crypto at Outlier Ventures. Eden Dhaliwal: Over the past year or so, two things really excited me about the space that led me to start New Order. First, that DeFi is really still in its early days and has tremendous long-term upside. Secondly, it’s become apparent that capital is not a crucial need for new projects, and builders, especially DeFi builders, are getting tired VCs dumping for quick returns, liquidity providers ‘rug pulling” rewards, and general lack of value provided by ‘investors’. With New Order, our thesis is that a venture platform should be led by a community of builders that can build a powerful DAO treasury to provide continual and valuable resources for builders. Our network of DeFi builders will determine what projects get launched to serve the DeFi ecosystem best. It’s effectively a community of DeFi builders backing DeFi builders through community-driven incubation. Ishan Pandey: Please tell us a little bit about how New Order and how DAO’s, in general, can revolutionize and democratize business? Eden Dhaliwal: DAOs are in the early stages, but we’re already starting to see the mainstream effects of crowdsourcing intelligence and capital to achieve ambitious goals, most notably Constitution DAO, which put a $40 million bid for the US Constitution. For example, DAO protocols levels the playing field for people interested in supporting and building DeFi projects and earning contributor rewards in the process. Decision-making that was once prohibited to people who had access to capital and networks can now be democratized globally to people interested in shaping the future of DeFi. Decisions are made from the bottom up and governed by the community, with rules enforced through voting on the blockchain. Ishan Pandey: What are your views on Solana? Is it going to take over Ethereum in terms of usage? There are bull cases and bear cases for both. Ethereum was created years before Solana and had a larger network of decentralized apps and developers. Ethereum has a stronger infrastructure and prioritizes its security. Eden Dhaliwal: On the other hand, Solana is attractive to the average user because of the speed and low gas costs required to process a transaction. This makes building on Solana quite attractive at the present moment, especially with the constant influx of more non-crypto native users. In the end, both Ethereum and Solana are effective Layer 1’s and we see a future where both can co-exist. Ishan Pandey: What advice would you give to entrepreneurs who are looking to raise money? When doing your campaign, think of it as “hiring your investors” because this mindset will allow you to have higher standards and expectations for those you bring to the cap table. Eden Dhaliwal: Every investor brings capital and “brand name” so what exactly separates them? Every investor should be providing some sort of value to your business. Whether they provide access to people you wouldn’t have otherwise, introduce synergies, help you recruit talent or have expertise in a specific vertical, think about why you want to work with them long-term. Ishan Pandey: The DAO legislation in Wyoming is to take effect from July 2021. Why is it so revolutionary? The state of Wyoming formally recognizing DAOs and granting them the same legal power as LLCs is a breakthrough because it provides legitimacy to what Web3 is building. Eden Dhaliwal: DAOs provide a new way of working and this is only the start of this industry. Ishan Pandey: Following bitcoin, DeFi was introduced as a relatively new concept that is rapidly gaining traction worldwide. Do you think DeFi has the power to alleviate economic hardships and disrupt existing financial systems? Before answering this question, it’s important to note that I think of DeFi as a parallel financial system to TradFi but both can benefit from each other in a hybrid model. Eden Dhaliwal: But, to answer your question, DeFi allows users to be their own bank. The current financial system is “centralized” and favours people with a combination of status, wealth and location. What if you need to make a wire transfer on a Sunday? Too bad, wait until 9AM when your bank opens. What if you look at the lending officer the wrong way? Say goodbye to your loan approval. DeFi allows users to utilize financial services such as borrowing, lending, and trading regardless of their status, wealth and location. DeFi doesn’t care what you look like or what time it is. It’s always working 24/7, 365 days a year. Another thing DeFi has introduced is the concept of “money legos,” which means different DeFi Apps can interact with each other to provide you with a combination of services. This is important because the earning strategies once restricted to those with wealth advisors are now available to anybody in the world with a phone, including the currently unbanked populations. Ishan Pandey: What qualities do you see in a startup before including it in an Incubation program? For New Order, we’re really looking to the community of DeFi builders to uncover gaps in the eco-system to help accelerate to market. This is how our core team proposed and are now building H2O and Redacted - two of the DAOs first portfolio projects. Eden Dhaliwal: They emerged organically from builders coming together and saying we need XYZ. I think ultimately you’d want startups with deep domain expertise proposing solutions to problems they’ve identified, having worked closely to the space. Beyond that, the startup team members’ talent/grit / hustle is paramount to having a successful project. Ishan Pandey: Decentralized liquidity market protocols eliminate human and institutional intermediaries, replacing them with smart contracts that decide interest rates and lending/borrowing parameters via code. Do you think DeFi should be regulated? This is a loaded question. First off, can we even effectively regulate a global network of computers upon which these contracts are executed? My gut reaction is this will be very difficult. Eden Dhaliwal: Capital and resources go where they are treated best and if regulations become too arduous, capital will flee to jurisdictions that are more favourable to working with companies in the space. Moreover, our goal shouldn’t be to recreate the walled gardens of the current financial system but to look at new, modern ways to manage the same risks that are reflective of the paradigm we are entering. Ishan Pandey: What are your views on NFTs? NFT’s are anything that is “tokenized” and non-fungible. Non-fungible, meaning “one-of-one,” unique and irreplaceable. Eden Dhaliwal: When I describe it like this, it’s clear why the number one application so far has been to create NFT art. But it goes beyond art. The utility extends to examples like tokenizing contracts, merchandise, tickets and access to events. We are only in the infancy of NFT applications. Ishan Pandey: Do you believe the crypto sector must forsake decentralization in order to build a robust security system. What are your views on DeFi hacks and cybersecurity? If we forsake decentralization, my only worry is that we end up returning to the walled gardens and trust, rent-seeking intermediaries of the past. Eden Dhaliwal: Of course, the multi-million dollar hacks and exploits we’ve been seeing are terrible marketing for the space, but it also allows contracts and platforms to be more robust and resilient long term. It’s this process of hardening that over time will allow people to develop more faith in code to house their money. For instance, look at the almost $144B locked in Gnosis Safe. This was built on the mistakes of the DAO hack from 2016 and countless other mistakes the community has made. As the space further develops, we’ll see new tools emerge like Nexus Mutual for insurance or Kleros for conflict resolution that will round out Web 3. Ishan Pandey: What new trends do you see in the blockchain industry? Institutionalization and creation of DAO infrastructure is going to be the next trend. For example, we also have plans to build a DApp marketplace, which will be the home for these accelerated projects through New Order. Eden Dhaliwal: By leveraging the marketplace, teams will have an in-built stream of users and traders who have tried other Dapps from New Order and this will give them a running start right upon launch. Moreover, after projects are accelerated through our program, they continue operating in our ecosystem, creating another revenue stream for the DAO, which can be further invested in building the future of DeFi. The marketplace thus creates a virtuous loop where great products can be found, attracting even more users and investors to participate in New Order’s ecosystem. Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions and equipping readers with better opinions to make informed decisions. The material does not constitute any investment, financial, or legal advice. Please do your research before investing in any digital assets or tokens, etc. The writer does not have any vested interest in the company.

The Future of Governance is DAO

What Are the Most Challenging Problems Cryptocurrencies Are Facing

The decentralised/blockchain community holds independence, freedom, and a lack of hierarchy as a core ideal. However, they are using a flawed method from game theory that will do the opposite of their intentions. Staking Staking is everywhere in the new decentralised economy. Whether it be Proof-of-Stake to determine who gets to verify a transaction – and get the rewards, to putting up a stake before you can be a juror on Kleros’ arbitration network, or just proving your identity to join a UBI system. Everyone in the community believes that skin in the game will make you do the right thing. The right thing being don’t break the system. Go with the majority, don’t be a bad actor. Staking means putting up some money – usually some crypto with real value – and if you do the wrong thing your stake can be lost. By staking you will get power, access, and rewards. Staking is no different to how our current top-down system works. If you have wealth in our current system you have access to land, markets, political power and the ability to make the rules. You also get to collect interest, rent, and profits from your capital. However, those with wealth don’t seem to be any more trustworthy than those without, maybe much less so. A look by the Australian Royal Commission into the banking sector exposed a greedy culture that was happy to lie to make more money. There are three major problems with staking: Inequality Non-Rational Behavior Due to Incentives Incentives As a Form of Control We do not live in an equal world. Encouraging people to act in a certain way can make them act in the opposite way. We aren’t very rational. Encouraging people to behave in any way is a form of centralized control. Incentivisation is a form of soft dictatorship. Staking is contrary to true free decentralisation. Inequality We live in a deeply unequal world. The top .001% could stake $10 million and lose it having no effect on them whatsoever and 90% of the population would struggle to muster $1000 let alone $1million to join the game. Staking does not affect all people equally!! Therefore it fails. The poor will do anything to save their stake, or hate the system so much to destroy it. The rich can just profit or decide which system fails and which succeeds on a whim. The only reason many systems are currently working is the small pool of ideologically like-minded validators and relative equality amongst the Devs and coders who are the majority of the community. Giving the rich the ability to undermine a system that was intended to dilute their power is crazy. We are currently seeing the centralisation of the mining of Bitcoin, and Ethereum, the whales flipping DAO votes, and Elon Musk pump-and-dumping. Staking would exacerbate this trend toward centralisation rather than fixing it. Non-Rational Behavior Due to Incentives One of my least favourite words is incentivisation. It’s veiled totalitarianism. In a so-called liberal, democratic, free market world incentivisation has become the favoured tool to control people. How has this seeped into the supposedly anarchic, freedom loving, decentralised world? Game theory. Everyone in the DLT (Decentralised Ledger Technology), blockchain environment talks of the trustless system. You don’t need to trust a central authority instead the algorithm will ensure accuracy, access and transparency. That’s the objective. Note there are systems that don’t use incentives such as DAG. The devs haven’t trusted but instead embedded the algorithm with game theory-based incentives to force you, the rational actor to be trustworthy. In my 2017 book Fluidity – the way to true DemoKratia I gave multiple examples of monetary incentives doing the opposite of their intention. From paid collecting less than their unpaid counterparts to a survey of who would rather have a nuclear waste dump near their village if they weren’t paid to do so. The researchers in the latter experiment deduced that monetary incentive can crowd out intrinsic motivation to do the right thing for the community. Israeli charity collectors Swiss villages When we think about using stakes to encourage keeping a decentralised system functioning the Swiss experiment is scary. It may encourage selfish actions rather than trust. Incentives As a Form of Control Everyone in any position of power is trying to get people to do what they want. People as a whole have stopped following those in power because they don’t trust them to do what is best for them or society as a whole. And they notice the manipulation. So the use of advertising, nudges, incentives, penalties, influencers and big data are being used to move mass action. Yes, I know nothing big can be achieved without many people being involved but people should be able to choose freely. They should get the chance to Trust. The attempt by any person or algorithm to encourage (force) you to behave in a certain way is a form of dictatorial control. Yes sometimes this is the best thing for you and the group (think lockdown during Covid), but we are now so aware of being coerced that the attempt itself can be seen by many as malicious. Most importantly incentivisation goes against the idea of freedom and a decentralised trustless system. Seeing people as voting, buying, node controlling objects that can be nudged in a direction is fundamentally wrong. We are not objects. We do care about systems that benefit us, and we will look after them. Bad actors will always exist, so a good DLT system will allow Trust and ensure bad actors are drowned out of the majority. Otherwise the selfish wealthy will maintain control, and trust disappears. So we need to find better solutions to validating DLT than Proof-of-Work and Proof-of-Stake and luckily there are other options such as the DAG (Directed Acyclic Graph), Proof Of-Quorum and others. The solution as always is equality and randomness. David J Campbell This article was first published at: https://www.jesaurai.net/society/economics/the-problem-with-staking-in-the-decentralised-world/

Everything Wrong with Proof of Stake

We are trying to create a system (society) that doesn’t require a centralised authority to administer validity and justice. A society without central authority is essentially egalitarian -- each person has the freedom to do what they wish provided they comply with the transparent rules. Of course, they should also have some say in these rules and so far our best solution to that is some form of democracy. The major problem is existing hierarchies, which is what forms with centralised power have a habit of perpetuating through any new more egalitarian system. Those that already wield power - monetarily or entrusted - end up transferring that power to the new system either by wielding their wealth or being selected as the trusted overseers of the new system. My solution to this is:  direct democracy + entrusting others anonymously + easy devolution + randomness. ) Problem with current DLT (Decentralised Ledger Technology If incentivisation does anything, it teaches children to play the game. My 3 and a half-year-old son likes playing a game on his tablet which I assume is to teach him how to care about others by giving them bandages and medicines. But he keeps looking in the top left corner to see if his actions had increased his score. Often this is the only way to figure out if he is doing the right thing. He is just doing what would keep the game happy. I doubt he's learning how to care for sick animals. That’s what incentivisation does to a toddler. To adults it can make them do the opposite of what is intended. We know when we are being controlled… sometimes. Incentives, nudging and advertising are forms of control from a centralised power be that an algorithm or a dictator. Adults need freedom from manipulation then our intrinsic decency can shine through. We also need to feel part of the system/society and empowered to enact change from choices. As I write this he asked for a snack bar ( already had too many today) so I limited his options to an apple or pear (no snack bar). He loves both. His response was to repeat the words "snack bar" over and over and over. Is that a Sybil attack? I caved. He got a snack bar and an apple. Then you have our cats, the more you lure, call, herd them the more they go away. If you close the door and wait they'll be there ready to come in without a fuss. Liquid Democracy + Entrusting Others Anonymously The key is a liquid democracy that proxies votes to a  committee for a period of time. The committee members know they are on the committee but don't know how many votes they wield and this can constantly change. The committee's job will be to create proposals (an executive). Those non-proxied votes can still be wielded to vote on proposals and voters can constantly move their votes from the committee member to others not on the committee or vote themselves. The vote allocation is completely fluid. The committee members know they have been entrusted with some power but never know how many votes they wield on any proposal, nor does anyone who may wish to buy their votes. So underneath the entrusted - trust encourages trustworthiness - there is a secret liquidity of votes. To pass a proposal the majority of committee members and votes would be required. This ensures no populous idiocy and no committee selfishness. This is a real-time devolution of power. One vote per person rather than one vote per dollar does lead us to the There are currently very inventive solutions to this from , and others including No solution will be perfect. identity problem. Kleros Idena myself. An algorithm that highlighted massive changes in vote proxies could highlight fake account creation. Randomness 50% of the committee is selected at random from those proxies without enough votes to win selection. This ensures that even if the most hubristic or popular, colluded, or were bought, they would not control everything. The randomness is to confuse collusion and ensure new voices. There’s a history to this as the executive in Greek Democracy was a random selection of citizens. The best thing about randomness is it creates a chaotic element which is very hard to organise the control of, and it is one of the fundamental elements of evolution in nature. It is from this that new things arrive. Easy Devolution Devolution is one of the key elements in any decentralised system of governance or validation. If the system isn’t working for you or you notice collusion you must be able to move your votes (both trust and monetary) to a new system. The major issue here is what many call We have a habit of staying with what we know even if it no-longer performs the functions we joined it for. stickiness. We haven’t closed our Facebook accounts because we still have some friends there, or we stick with the same bank/insurer/telco because we know them and haven’t got around to changing. There is risk in changing, will the new system work? This is loss aversion, laziness and a lack of a solid safety net. One of the many reasons a is required for true decentralisation. Universal Income The best way to enable easy devolution is to have a strong safety net and a pluralistic system whereby each person already uses many different systems to do very similar things and those systems have the ability to, or already offer all services but with different structures. Like using many different currencies and exchanges on a daily basis. Ease of entry and exit its also necessary. Owning and storing your own data is highly desirable, which means there must be a simple and reliable way to store it and connect it. Modern phones aren’t very good at this that’s is why we use centralised clouds. Unfortunately, we also have a habit of losing stuff, private keys, passwords, wallets, computers etc. So there will need to be many easy-to-use, decentralised, secure, private, but protocol neutral repositories for our information. The decentralization is solved with the ideas above. The internet uses a universal protocol.  Secure and private will always be ongoing issues. Could this System be Used for Transaction Validation? A combination of elected and random nodes would be Sybil-proof. Most importantly we dilute the finance issue, where everything becomes a matter of quantifiable trade. We are more than that!

Fluid Decentralization: Randomness and a Lack of Manipulation

Every year the blockchain ecosystem gets together to take part in , one of the top blockchain conferences in the industry. Coindesk puts on a top speaker lineup with some surprises to keep the FUD away from attendees that are supporters of decentralized platforms and technologies being presented at the event. Consensus This year was my first time attending the event in its online format, which to be honest had a few connection difficulties as every conference call I have been on for the last year. Nothing to be considered a huge problem, but we witness dropped speakers and overlapping conversations. The norm for this post-covid digital interactions :P Personally, I was looking forward to the panels around Latin America state of crypto for Colombia and Brazil. This is something that has been recently in everyone's mind with the of more than 200 million USD. Which gave the Mexico-based startup a Unicorn status, with online banking incumbents such as and setting up operations throughout Latin America. recent round raised by Bitso Albo Nubank The interest is definitely there, with some Ethereum based projects launched such as which is led by Argentinian entrepreneur Santiago Siri, the Universal Basic Income project built on top of the platform. Proof of Humanity Kleros Also getting to know the founders and the communities behind Layer 1 and Layer 2 solutions such as , and ; the Coindesk team allocated more than two hours to each track which gave viewers a good chance of interacting with community members from the protocols and platforms in the chat rooms for networking opportunities. Also with enough content to then go and research some of the ideas discussed by the speakers or audience. Avalanche NEAR Polygon Those four days were quite exciting with the market “hopefully” recuperating. And the teams building the next generation of applications on top of the different blockchain protocols busy launching and delivering solutions to scale for the surging demand that we are seeing right now. But most importantly we got together to see what the future will hold for NFTs, scaling, mining and creating value for users of these blockchain protocols. America Latina the next frontier I have been a fan of the for the last year and half, so it was great to hear their thesis around Ultrasound money with the audience. Their research is one of the best I have seen and essay is one not to be missed. As a Mexican citizen I for one know how difficult it is to live through the fluctuations of fiat, which to be honest is one of the most stable in the region and that is saying quite a lot :P Bankless podcast Going Bankless So when I got into crypto, my main focus was to leapfrog the banking system and understand how to leverage the Open Finance platforms. During the conversations in the Colombia panel, it was quite surprising to see Davivienda and Bancolombia, two of the top banking institutions leading the narrative around crypto. To be honest I am quite hesitant to support since most of these institutions are slow and with little incentive to support the users that want to go bankless. I gave them the benefit of the doubt and when I heard them discuss how they are beta testing crypto platforms it made me realize that they could be an important partner for onboarding new users into the blockchain. We are still in the early phase of crypto adoption for the masses and in Colombia we are working to create opportunities for those that are unbanked and cannot access financial vehicles such a loans. - Alejandro Beltran, CEO of buda.com It was interesting to hear CEOs from the top exchanges such as Bitso discuss the untapped potential that crypto has in the Latin America region. Brazil has one of the biggest internal markets in the region and I can attest to how quickly they adopt financial technologies, in every shop and restaurant you have cashless payments through Mercado Pago, in contrast to Mexico where it is still not widespread. This tells you how the Latin America region is leap frogging other regions in accepting solutions from fintech Startups. Making crypto platforms appealing to solve the unbanked problem that the region has. Crypto communities and platforms There were a lot of discussions happening between attendees in the chat space during the platforms for both Layer 1-2 talks and panels started. Definitely one of the most watched sessions was for the platform, getting a lot of the DeFi enthusiast to hang around. At one moment we were more than 2000 people connected in the chat; sadly just a few of us took part in exchanging ideas and networked during the talks. Polygon Polygon has delivered on its promise and we have seen how a lot of liquidity has started to move from decentralized exchanges (DEX) over to the Layer 2 solution and also have cut down drastically on the ETH gas fees so Liquidity Providers can leverage DEX’s such as and to farm on the Polygon platform. Quick Swap MaiFinance Sandeep Nailwall who is its COO shared with the Coindesk.tv that Polygon is the most used Layer 2 solution, with the most 3rd party application adoption in all the Ethereum ecosystem. Surpassing Layer 1 contenders such as Solana and Polkadot. Speaking of Layer 1 contenders, another platform showcased at Consensus was with a strong community backing it and leveraging a familiar technology stack for developers. They want to attract the creators and builders in crypto to develop the next generation of crypto solutions on top of their platform. NEAR Protocol They recently announced their Ethereum Virtual Machine called , so Ethereum projects and developers can migrate over to NEAR, leveraging their reduced gas prices and making it easier to deploy decentralized applications (DApps) with a clean user experience. Aurora Their founder Ilia Polosukin talked about how the ecosystem of DApps has grown in less than a year with the launch of which is similar to in ETH. Mintbase OpenSea He also shared how NEAR can support the creation of Decentralized Autonomous Organizations (DAOs) and it is being supported by , a farming platform such as with a very unique way of building game dynamics into generating yields (I recommend you read about it ) and which is a Decentralized Exchange built on NEAR. Sputnik Fund DAO Berry Club here Ref Finance We know that for platforms and protocols to keep growing in their initial stages they need to be bootstrapped and for this the NEAR Foundation is offering grants with total funding of 3.5 million USD in NEAR, also looking to invest directly into protocols and solutions with more than 2 million USD in NEAR to be allocated during 2021. They are putting their weight behind those founders and builders that can leverage the NEAR protocol to develop the next generation of blockchain solutions. We built a platform where transactions can get executed for an average of 1 cent and block time is 1 second, and with a strong community support from our Guilds who are experimenting and creating, so we can build an Open Web for everyone - Ilia Polosukin, NEAR Protocol founder Metrics to understand tokenomics growth Now one of the big questions that come up when deciding which protocol to dive deep in and maybe buy its tokens - how do I know that there is real value being created on this blockchain protocol? This question was answered by the founder of the token Emin Gün Sirer during the panel discussion. It was quite interesting to get his point of view since he has been around the blockchain ecosystem long enough to understand when a protocol has solid foundations or not. Avalanche The number one way to know if a protocol is being used is by analyzing the amount of fees burned in all the current transactions on the blockchain; this is quite difficult to fake as this will take an enormous investment from bad actor(s) - Emin Gün Sirer, founder of Avalanche Also, another metric that I heard during the in the Bankless podcast is the amount of wallets that are allocating more than $100 USD; which is a good indicator of the number of users committed to the platform. interview with the 1Confirmation crypto fund This I believe can be really important for new projects or protocols that are getting started, as it is imperative that they provide an explorer where anyone can perform this type of analysis. There are some interesting platforms such as that are providing analytic for NFT platforms on Ethereum. They will become the next frontier for investors or users, enabling them to understand if the platforms they want to be involved are not fugazi. DegenData Now that Bitcoin Conference is happening in Miami this week, let's prepare for what the next wave of innovation will bring to the crypto ecosystem. But most important is that all this technology is empowering users to have alternatives to the current fiat system and also enabling creators/developers to build valuable solutions that will give new crypto states the means to be sustainable. This is just the beginning and we are in the early stages of the means of creating value.

Consensus 2021: Understanding LatAm Blockchain States and Protocol Usage Metrics

Since the dawn of Bitcoin, the decentralized and immutable properties of blockchain technology have been beneficial for a variety of sectors from insurance to healthcare. More recently, dispute resolution was added to the list of use cases. Online dispute resolution is nothing new. There have been various attempts at using online tools to solve disputes, which have largely failed as they simply brought them into a digital medium rather than delivering a completely new approach to solving them. The emergence of blockchain technology changes that, enabling new models of arbitration through the concept of decentralized justice - a sort of crowdsourced blockchain legal system involving automated dispute resolution mechanisms based on game theory and crypto-economics that allow outcomes to be enforced via smart contracts. So how does it work, and who are the pioneers of decentralized justice developing the platforms that could deliver crypto’s next killer use case? How Does On-Chain Dispute Resolution Work? As an example, in a task transaction between two parties, smart contracts can be used requiring the deposit of funds into the smart contract by the client, who will confirm the release of funds when the task is completed by the service provider. If the service provider deems the task complete, but the client does not confirm the release of funds from the smart contract, an automated dispute resolution mechanism can be triggered. This freezes the funds and incentivizes randomly selected independent members of the same blockchain network to vote on whether the task has been completed or not, automatically transferring the funds to the winning party. If adjudicators go against the consensus, they lose the incentive. As individual adjudicators believe most of the other adjudicators will vote for the fairest outcome, voting for the consensus is the best way to gain more incentive rewards. Pioneering Decentralized Justice Kleros was the first system to explore using secure and transparent blockchain technology in arbitration and has launched a fellowship for continued research into decentralized justice. Kleros Its open-source online dispute resolution protocol, built on top of the Ethereum blockchain, uses crowdsourcing and game-theoretic incentives to fairly, quickly, and reliably adjudicate disputes. Kleros acts as a type of decentralized Supreme Court layer used by businesses for arbitration in their contracts. If there is a challenge, a dispute is created in Kleros, and a panel of jurors is randomly selected. Parties to the dispute pay a fee in Ether to the jurors. The selected jurors stake the Kleros native token (PNK) to participate in the process and adjudicate on the evidence submitted. If jurors independently vote with the majority, they keep their tokens and are rewarded with a share of the tokens forfeited by those who voted with the minority, incentivizing backing consensus on the fairest outcome. Jur Another pioneer in this area is the smart contract creation and dispute resolution platform , focussed on helping individuals and businesses to gain global access to affordable justice at various levels. Jur Jur offers a crowdsourced open layer aimed at small value disputes incentivizing adjudicators with JUR tokens, a community layer with independent experts in the same field who can make judgments, and a court layer with legal practitioners who can provide arbitration across 166 countries. It utilizes VeChain’s blockchain-based ecosystem for recording agreements via DIY smart contracts, and providing legally binding dispute resolution that is 80% faster than the traditional system. Aragon Court also emerged, serving as the legal component of the Aragon Network (ANT) - a platform built on the Ethereum blockchain used to create and maintain decentralized autonomous organizations (DAOs). Aragon Court The Aragon Court dispute resolution protocol comprises jurors that are financially incentivized to participate in arbitration disputes amongst DAO participants. ANT is staked as collateral to mint ANJ that jurors require to be able to work for the Aragon Court system. Splyt Now, has entered the field with an alternative pre-dispute resolution protocol to manage disputes on its decentralized e-commerce platform, powered by the Polkadot multi-chain network. Splyt Splyt simplifies the e-commerce supply chain by assigning unique eNFTs (e-commerce non-fungible tokens) to every inventory item, functioning similarly to a global blockchain SKU number. Brands synchronize their inventory with the platform, which is automatically tokenized as eNFTs on Splyt’s inventory catalog. Splyt's native SHOP token is designed to escrow funds on a purchase to protect buyers. Once the buyer receives an item, the funds are released to the seller and any affiliates. If the item is not delivered, the buyer can initiate the Splyt dispute protocol. In the legacy system, the ability for parties to settle a dispute between themselves is key to reducing the time and cost of litigation. Splyt is designed to leverage the same incentives through automated means that alleviate the cost and time barriers associated with arbitration, encouraging parties to settle disputes between themselves first and only providing arbitrage if they cannot. Sellers must deposit a small number of SHOP tokens when they list an item. Any party interested in disputing the seller’s good faith behavior may stake a matching number of SHOP tokens to indicate skepticism regarding a transaction. A seller may then concede that there was poor behavior, like a missed shipping deadline, and surrender their initial deposit to settle the dispute. Alternatively, if the seller is confident in their behavior, they can stake additional SHOP tokens up to the same first deposit amount. The disputing party can then either surrender their original stake to concede that their skepticism was unwarranted or place a second matching deposit to indicate continued skepticism. If both parties double-stake, and can’t settle between them, then the case is sent to a third party who can analyze the evidence and arbitrate the dispute. A portion of the double-staked tokens will go to reward the arbitrator for their efforts and the rest will go to the winner of the dispute. Any amounts involved in a transaction, including the entire price of an item bought, will be held in escrow until the time window to challenge the item has expired, ensuring every party has an opportunity to initiate a dispute. If a dispute is initiated, then the disputed amount will be held until the parties either settle or a third-party can resolve the dispute. Users can stake SHOP tokens to become arbiters. Arbiters are chosen at random to resolve disputes and earn more tokens in return. The more tokens staked, the higher the financial value of dispute arbiters can be a candidate for, allowing for any e-commerce dispute resolution to be managed entirely on-chain. The Missing Link in Dispute Resolution Blockchain-based dispute resolution is still in its early stages. As the decentralized ecosystem continues to grow, and transaction agreements are increasingly carried out using smart contracts on public blockchains, the game theory and token-economics of decentralized justice provide the ideal crypto-native solution to manage disputes and enforce outcomes in a rapidly evolving space. We are witnessing the birth of a new industry built on blockchain technology that delivers faster, cheaper, and more accessible dispute resolutions on-chain.

Can Crypto Achieve On-Chain Dispute Resolution?

“In these unprecedented times…” People build unprecedented products, and contribute to the internet in unprecedented ways. Go on, make a fellow human’s day and nominate the best YOUR best of 2020’s tech industry for a 2020 #Noonie, the tech industry’s most independent and community-driven awards: One such impressive human is : 2020 Noonie nominee in NOONIES.TECH. Tian Zhao from Canada Future Heroes and Technology categories. Scroll on through for their take on what’s trending in tech today... 1. Which 2020 Noonie have you been nominated for? Product Design 2. Tell us a bit about yourself. I’m a multidisciplinary digital product designer, deeply & widely passionate about the worlds of design-thinking, exponential-thinking, and systems-thinking - in particular, Human-Centered Design, Fintech & Distributed Computing, and Circular Economics & Open Systems respectively. I got into product design at about the same time I got into the world of blockchain, mid-2015 when I first met Vitalik Buterin in Waterloo when he had dropped out and received the Thiel Fellowship; inspired, I subsequently got accepted into the Thiel Foundation community by applying and being accepted into their Thiel Summits and thereafter the 1517 Foundation community. Over the years, I've spent my time designing various digital products within this Distributed Computing space and otherwise, with the most notable being: BlockX Labs: 3 blockchain developer tools such as the Universal Cryptofaucet ( ) https://blockxlabs.com/ Raise: a blockchain-based corporate asset management solution for the African Diaspora ( ) https://getraise.io/ the Royal Bank of Canada: a proposal for stablecoin integration into the RBC Wallet app Belt: a fintech app all about investing one’s spare change in cryptoassets ( ) https://tianyuanzhao.com/project/04f85702/Belt- Kleros: an Ethereum-based legaltech startup with a suite of tools; I specifically worked on their decentralized court DApp ( ) https://kleros.io ConsenSys, specifically a product called "Kapture": an entertainment-tech startup all about utilizing cryptocollectibles as a means for greater brand engagement. ( ) https://consensys.net/blog/enterprise-blockchain/decentralized-brand-economies-the-key-to-blockchain-mass-adoption/ I’m also a member of the Celo Prosperity Circle. 3. Tell us about the things you make / write / manage / build. I'm currently working as a digital product designer at Flinks (an open banking fintech startup - ) and contributing part-time to a blockchain-based digital agency called Weavik (in partnership with Keyko - ). https://flinks.com/ https://www.keyko.io/ 4. What are you most excited about right now? I'm most excited about my work at as the company just announced their Series A investment and is on the up-and-up in terms of business in spite these challenging times. Additionally it's a company with an awesome work culture, with an amazing staff of highly competent and compassionate individuals, as well as a fantastic product with a lot of great customers & clients. Flinks 5. What are you worried about right now? I'm most worried about my physical health, something I've neglected for much of my youth and into my young adult years. I did this at the sacrifice of more nerdy activities because I always perceived nerdy activities as a glorious thing and never wanted to be associated with the "jock" crowd. However, I realize now the folly of my ways early in my life, so I'm trying to catch up by embedding daily exercise routines at home of course. I'm lucky though that I had and still have a great metabolism and do eat healthily, which is why I have an average build. 6. What's the most useful advice you've ever given somebody? If you have to travel, please travel with a purpose! I write all about it . here 7. How has the pandemic changed your life and/or career? The only thing is WFH really. But mentally/emotionally I think I'm not as negatively affected by it because of the grit, perseverance, and resilience I've gained over the last 5 years of my hustling. I think the struggles I've endured over those years have allowed me to not be so phased by this. I can honestly say that despite the fact that I'm a Millennial - I've always had the mentality of being grateful for where I grew up, that which being a Developed Nation (not Western society mind you). I've always had the mentality that things could be far worse and I could be experiencing the detrimental effects exasperated by this pandemic if I grew up in a Developing Nation such as my Motherland of China. I've experienced a brief period of homelessness in Canada before and going through deep/long periods of loneliness, isolation, and depression/anxiety while I was in university even. So when this pandemic hit, I didn't necessarily shrug it off but I immediately adopted the following mentality: "I've been through far worse, I'll get through this too, just have to keep moving forward, just have to keep fighting, and just have to keep pressing on as I've always done so prior to all of this. This is nothing new to me, so as long as I do my part to not worsen the situation via physical distancing, washing my hands properly, and keeping healthy along with continual hustling towards that peaceful/progressive lifestyle that I've yearned for ever since 2015, then that's all that matters. "The long and short of it is - this pandemic only reinforced my drive that I've had ever since 2015. However, if anything - the pandemic of racism has affected me more. I may not be Black, Brown, LatinX, a womxn, or LGTQ+, but I've had time to reflect and even write about my experiences with subtle racism/discrimination/prejudice as an East-Asian living/working in North America. This article is still a Work-in-Progress thus far but I'm in the midst of finishing it up within a week or two (tops). I'd love to share this article at a later time when it's all published, hopefully in that aforementioned podcast, "ah-wink". 8. If we gave you $10 million to invest in one thing right now, where would you put it? In no particular order: $3M for my entire family, both my parents who are living in Winnipeg, Canada, and my extended family in China. $2M for self-sustaining 0-carbon homes for my entire family both myself, my parents, and all of my family members (cousins, aunties, uncles, nephews, etc in China), still unsure how/what (whether it'll be one of those modular houses like a converted shipping container or one of those new-fangled condo units that exist within a vertical-farming condo building or a retrofitted house of some sort), but regardless I'd invest it in an innovative living situation that won't negatively impact the environment which could fit a family of myself + my partner + 2 children tops as I intend to have 1 or 2 children only. $0.5M for investments into public companies with high ESG ratings and simply put - that satisfy the Triple-Bottom Line of People, Profit, and Planet $0.5M for investments into private companies, i.e. tech startups, so yes I'd do some angel investing  $0.5M for investments into cryptoassets $0.5M for charities that I believe in fighting for causes that tackle issues of-or-related to entertainment (proper representation/representAsian issues), economics (greater equity for folks who need it most), and environment(al sustainability/resilience). $1M - for personal goods & services that increase my capacity to contribute to positive scalable, sustainable, and systemic change in this world such as perhaps my own tech startup amongst other things such as investing heavily into goods & services that cut my carbon-emissions down to 0 and can even enable me to have a net-positive instead of just net-neutral impact on the environment. $2M for the Body of Christ, the Church of God, and the Holy Spirit's Kingdom on Earth. What this will look like will be donations and contributions to the growth & development of the Christian faith here on this mortal plane of existence. 9. What's an opinion you have that most people don't agree with? Everything that I talk about here in the . Renaissance Personhood Manifesto 10. Which apps can't you live without? Wechat in order to stay in touch with my family in China, Youtube for entertainment's sake, Linkedin for work purposes, my Email app (the native Google one) for obvious reasons, and the Dwell app to be audibly connected to the Word of God 11. What are you currently learning? I'm learning how to apply this - in my life whilst I still hustle to obtain a life of peacefulness & progressiveness through the stabilization of my current work situation as well as obtaining balance more of a balanced life between my professional and personal (wherein the latter is less than the former). " The Ruthless Elimination of Hurry " For much the same reasons Hacker Noon decided not to put good ideas behind pop-ups or paywalls — nor abuse your personal data to target you with creepy ads — we also decided that you don’t have to be a #thinkfluencer or have 50k followers on Twitter to earn the recognition that comes with a 2020 Noonie Nomination. Make somebody’s day and nominate them to be recognized in the internet’s most independent and community-driven awards: . NOONIES.TECH

Tian Zhao Is Passionate About Design-Thinking, Exponential-Thinking Worlds

At Hacker Noon, the first version of . we released on demand video calls with tech experts A big thank you to this first wave of tech experts! Anyone can learn something new today by ! booking a call with one of these smart people below Also, if you'd like to join the marketplace, invites are rolling, . here is the form Here is the first group of : Hacker Noon Experts Aazar Ali Shad Growth Marketing. I help startups with their growth marketing with all channels. Adrian Goins I connect dots. I comprehend data quickly and can explain complex subjects in common language. Adrian Raudaschl Product Manager, Physician, Academia, Healthcare, and Medicine. Alex Berke MIT Media Lab PhD student. Work experience: Google Search software engineer on news credibility projects, maker of election tech;  and publisher of "Beautiful Symmetry: A Coloring Book About Math." Afroz Chakure Final year B.Tech - Computer Science and Engineering @ MIT-WPU, Pune Akash Joshi Building, Writing, Programming. React, JS and Python expertise along with early-stage startup experience. Al Chen Taught Excel to 30,000+ people. I blog and podcast about spreadsheets and data analysis. Have been teaching Excel for 8+ years. Amanda McGlothlin User Experience Expert. 15 years+ experience working with startups and brands including Nike, Belkin, Audi, Google, Pearson, Allstate, and Cisco. Anthony Watson Dinosaurs Can Code! I have been a brain for hire for over three decades mostly without any degree, so I must be able to code to get paid! Ax Sharma Security Researcher. Open source software, vulnerability assessment and disclosure, reverse engineering, threat hunting. Branislav Đalić Philosopher of code. CTO of ML startup, open-source contributor, threat analyst, educator. Bernard Moon Global VC Investor. Experienced startup entrepreneur and tech trend writer. Carlo Occhiena Product Manager, Founder. Former Digital Ops Manager in a corporation, Founder of Martech startup. Christopher Luc . Software Engineer. Full-time at WhatsApp; internships at Uber, Snap and Yelp Cynthia Huang Female hackathon ninja. I can advise on personal branding, public speaking, content marketing, strategy, operations, startups, product, crypto, cannabis, short term rentals and insurance. Daniel Chae Business Analyst. I run Course to Hire, a place to help people learn how to code and land jobs in tech, and write for StackOverflow as well! Daniel Wu Housing Innovation & Data Strategy. I'm a Harvard JD/PhD and product manager, and advocate for inclusive smart cities and data ethics. Also published in Bloomberg, TechCrunch, etc. Dave Mangot Successful DevOps Transformation. We coach web operations and adjacent teams at mid-sized companies to service delivery maturity through the broad application of DevOps principles and decades of experience leading change. David Smooke Yours truly. Founder and CEO of Hacker Noon. Doc Norton Agile/Leadership Coach. 35+ years continually learning in the software field as a consultant, Director, VP, and CTO. Emil Koutanov Winner of 2020 Microservices Thinker of the Year. Software architecture and engineering. Eugenia Kuzmenko Internet? What is Internet? Google certificated marketer, Facebook certificated adman, Hubspot certificated SEO-specialist. Fabio Manganiello Software engineer. Automation, IoT, machine learning and programming geek. Geshan Manandhar Lead Software EngineerIn addition to my full time tech work, I have been blogging for 14 years and mentoring people in the past years Jackson Kelley Software Engineer at Amazon. I also worked as a consultant for block.one during the launch of EOSIO. Jai Paul Blockchain DeveloperAn experienced programmer with a computer science background, I have been involved in cryptocurrency since the very beginning, in the early 2010s, and would call myself an expert. Jonathan Harel Funny techie! Data Science, Building websites, getting your idea out there - quick! Kahlil Crawford Content Strategist | Theorist. Content professional in the hi-tech sector using design, creativity, and collaboration to innovate. Kevin Davey Champion Algo Trader. Proven futures trader and 4 time best selling trading book author. Matt Klein Cyberpsychology Strategy Director. Cultural Strategy Consultant for Fortune 50 Brands, Acclaimed Writer & Startup Advisor. Monica Hernandez Moni Mission Control. I have the uncanny ability to be a human router and rally the troops for increased impact. My areas of expertise include the space industry and high tech sectors. Limarc Ambalina Hacker Noon Editor. I am well-versed in SEO, backlink strategy, and writing content that ranks on Google. Linh Dao Smooke Hacker Noon COO. Helped raise millions, and 2x sales for Hacker Noon 3 years in a row. Founded a nonprofit. Mother of Norah. Liyas Thomas Author of Hoppscotch. Helped build Buy Me a Coffee (YC W19), currently building one-stop solution for open source monetization. Madalin Valceleanu Mobile Software Developer. Enthusiast on clean, modular and components architecture, focused on make software design more understandable, maintainable, scalable, robust, and last and not least testable. Applying design patterns, SOLID principles and good practices, making the code not only to compile. Mahbod Moghadam Founder of Genius. I started two major companies and I am currently writing a book about how startups work, in addition to being a top angel investor with an excellent portfolio. Mark Meyerson Director of Agency. Marketing strategy and execution. Maxim Salnikov PWA Expert. Developer Relations. Michiel Mulders Allround Growth Consultant. I help (tech) startups with all aspects of growth: UX, marketing, content, startup processes, and tech. Miroslav Nikolov Remain human. Process management and app architecture. Nebojsa Todorovic Freelancing Uncensored & Uncut. 10+ years pro remote work on all major freelance platforms. Nicholas Resendez Let's Grow Together. I focus on relationships and communication to understand the needs of those looking to build for the future. Oloo Moses Full Stack Developer. Bsc Information Technology. Paul Bailey Systems Architect. 20 years of experience in full stack development and engineering. Pavel Pekanov I Imagine Things. Full-stack dev, product research, creative direction and all things design. Peter Thomas Creator: Karate Framework. Open Source and Java veteran, has been invited to speak at the Ministry of Testing Dallas, DevConf.IN, GIDS, Test Talks, Test Automation Guild, GraphQL Asia and Selenium Conf Tokyo. Also appears in the TechBeacon list of Test Automation Leaders to follow in 2019. Jean Machuca Creator of QCObjects. Software Developer with more than 20 years now experience working for large-scale projects in private and public sector. Ricardo Lopes Front End Engineer. Amusing article writer who also makes VR stuff. Rekt Capital Cryptocurrency Analyst. Four years full-time in the crypto markets. Sergey Golubev Project management, marketing & business consulting. ICO/STO/IEO projects (white papers, applications for grants, business plans, compliance documents drafts, tokenomica). Sergi Garcia Tech Product Marketer. I help tech startups find product-market fit. I have helped 100+ entrepreneurs with their Go-to-market strategy, Website UX and copy, Pricing & Packaging, and Customer acquisition. Sandesh Suvarna $1.4M App in 4 Minutes. Masters in Engineering Management. Sergey Baloyan Make crypto-projects popular. I can support projects with building overall concept, tokenomics, marketing and PR strategy and implementation Stanley Nguyen Software Principles Commentary. Computer Science Degree. Tanay Pant Author, Speaker, Evangelist. I have experience in leading Developer Advocacy teams in scaling startups, and creating developer marketing strategy for sustained growth of developer communities. Tian-Yuan Zhao Digital product designer focused on Web3.0 work through my boutique design firm called Round Sky Studios. I've been doing this type of work ever since 2015 when I first met Vitalik Buterin, the founder of the Ethereum blockchain and have worked with companies such as ConsenSys, Kleros, Raise, Filecoin, Celo, and much more. 2nd Place Noonie Awardee in the Product Design Category for having written only 1 article on the intersection of digital product strategy/design + distributed computing + systems-level change. Usama Ashraf Software engineer, writer. Designing application architecture, Postgres, Node. Utsav Jaiswal Retired Dentist. Blockchain underworld expert who leads BD at Hacker Noon. Vaibhav Saini Physicist turned Entrepreneur. Springer Nature Book Author, IIT Delhi Undergrad. Yoram Kornatzky 20 years industry experience. Ph.D. Computer Science Find the up to date list of . Hacker Noon Experts at Experts.HackerNoon.com

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Kleros’s Stories on HackerNoon