Curve Finance with $14B locked to its platform. Serves up low slippage stablecoin swaps.
Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9
Some background on Curve (and Convex): https://medium.com/coinmonks/convex-curve-curve-d7e28cd6c1d9
2010 iPhone, I was mind-blown by the Word Lens app which could do OCR on text in the camera feed, translate the words into another language, and overlay the results on the image in near-realtime. http://edition.cnn.com/2010/TECH/mobile/12/20/word.lens.ipho...
These are tasks I had never seen any computer do in any circumstances, things which would be unthinkable on a Java MIDP Blackberry from 2005, or a Pentium II desktop from 1997. Compare this to the wearable augmented reality devices Professor Steve Mann was building through the 80s and 90s[1] and this "describing the image" is so so far ahead in so many ways - processing power, imaging quality, battery life, storage space, size, weight, convenience, reliability, it's just mindblowingly better, neural networks and fast chips and solid state storage is a step change in a way that "faster" isn't enough to really convey.
Google tells me "Derivatives have a long history in the United States, dating back to the founding of the Chicago Board of Trade in 1848.", you're telling me people are doing that but with blockchain, why is that interesting at all, why mind blowing?
It’s fully customizable and accessible to anyone with an internet connection.
But it’s permissionless in that if the financial markets don’t support a structured product you or your community needs, you can create and deploy it yourselves with instant global accessibility.
[1] https://medium.com/dragonfly-research/what-explains-the-rise...
Money obsessed people moving money around in ways that seem manipulative and gambling feels like a negative influence on the world.
What I mean is, if blockchain is going to be a revolutionary technology backing all finance, where is the evidence it can handle the kind of transaction volume that, say, major credit card networks generate?
This is a protocol that rolls up ETH transactions and executes them in batch, in an attempt to alleviate scalability concerns. I can't really speak to the side/unintended effects of transaction rollups on a blockchain, but I'm interested in learning.
This excerpt from the FAQ
> It is worth noting that anyone can become a relayer so long as they have staked the required bond in the smart contract. This incentivises the relayer not to tamper with or withhold a rollup.
kind of bothers me. It does not seem like such a small step to go from 'decentralized' to 'cartel of relayers' to 'central bank and subordinate branches'. And the fact that this protocol is unavailable to US persons is interesting, though perhaps standard for the space right now.
I think this is a problem with technological solutions (perhaps anonymous and redundant relayers, or private rollup transactions so that the relayer does not know the content of transactions in a block but can produce a valid output state) that will be worked on in the next couple years now that the base technology (rollups) exists.
It’s tough to respond when “serious financial application” or “revolutionary technology backing all finance” aren’t well-defined.
One benchmark is 1,700 tps for VISA. https://phemex.com/blogs/what-is-transactions-per-second-tps
If not, why not? Especially after 10+ years of development and intense VC funding (as is the parent article's point).
Next long term target is speed and energy efficiency of a Google search.
Edit: Avalanche says they’re around 4.5k tps: https://support.avax.network/en/articles/5325146-what-is-tra...
Ethereum 1.0 can handle 30 transactions per second.
Part of the development dubbed "Ethereum 2.0" is focused on scaling the number of transactions via sharding. Each shard will be able to handle 2,400 tps. As more shards are deployed up to 64, Ethereum 2.0 will reach 160,000 tps.
I'm concerned after reading https://ethereum.org/en/eth2/shard-chains/ that sharding is aimed at letting individual dApps roll up transactions -- i.e. the individual app would be the effective shard key -- and thus that would introduce some notion of centralization into the system.