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@redvelvetzip

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complexity theory enjoyoor /// building @BitcoinLayers /// loitering @degenofficehrs /// prev: research @MessariCrypto

Denver, CO
Joined November 2021
Don't wanna be here? Send us removal request.
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@redvelvetzip
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1 month
Time to take my own advice and create more than I consume I'm teaming up with @januszg_ to build a bitcoin-only β–ˆβ–ˆβ–ˆβ–ˆ company First things first, we're building out @BitcoinLayers
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@redvelvetzip
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11 months
On Libertarian Maximalism in the crypto space: Crypto's core feature is social coordination, not 'freedom'. Financial sovereignty(freedom) is a byproduct of this coordination, not the other way around. For this reason, parts of the Permissionless keynote by Vorhees felt
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@yugacohler
yuga.eth πŸ›‘
11 months
With respect, I found @ErikVoorhees ' keynote to be jejune, anti-democratic, and disingenuous. It may be effective as a rallying cry for libertarians, but as a strategic framework for the global adoption of crypto, it is so divorced from reality as to be worthy of ignoring. The
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@redvelvetzip
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4 months
Understanding Core Chain: A Comprehensive Overview Core Chain is a Bitcoin layer for programmability and scaling. It's defined by four key architectural decisions -Satoshi Plus consensus -EVM -Core DAO governance -coreBTC
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@redvelvetzip
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1 year
1/ The #XRPLedger ’s primary use case is facilitating and settling cross-currency transactions, but there's some pretty sweet tech under the hood that makes it all happen
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@redvelvetzip
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1 year
State of @Cardano Q2'23: -Average daily dapp transactions were up 49% QoQ -TVL (USD) was up 199% YTD -Are you paying attention to Hydra and Mithril yet? -Multichain future is looking bright (Milkomeda, Midnight, Paima, & more)
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@redvelvetzip
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1 year
1/ We're almost through Q1, but let's rewind and take a look at @Cardano in Q4 2022 Despite a bear market, we saw certain key metrics increase. As for development, the Basho era ramped up while Voltaire finally (officially) kicked off
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@redvelvetzip
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10 months
State of Cardano Q3'23 -Stablecoin value was up 16% QoQ and 461% YTD. TVL was flat QoQ but was still up 198% YTD -Project Catalyst Fund10 funded 192 projects -Voltaire aka onchain governance. SanchoNet and Intersect are live
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@redvelvetzip
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6 months
State of @Cardano Q4 Hope you like DeFi and Infra DeFi Minswap remained dominant in tx activity, but Indigo jumped to 1st place in TVL dominance. Axo and USDM are two dimensions of DeFi you should be watching now in Q1 Infra Midnight specs were released! Mithril in beta with
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@redvelvetzip
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1 year
Come tune in to discuss #Cardano DeFi on June 14th with me and cohosts @RichardMcCrackn & @technologypoet πŸ‘€πŸ‘€ We’re joined by @methebim , @Quantumplation , @Indigo_protocol , @bigpeyYT , @cryptorecruitr , @ecatxvc , @ikigai_phil , @cwpaulm ! @Cardano $ADA
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@redvelvetzip
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1 year
State of @Stacks Q2'23: - #Bitcoin mania cooled down, which caused a Q2 Stacks pullback. Despite that, -Market cap is up 53.3% YTD -TVL (USD) is up 247.8% YTD -Development updates. Builders gonna build
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@redvelvetzip
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6 months
What's $STX and why has it been melting faces? Boy do I have the free report for you the short answer is: STX has been the BTC beta the longer answer: State of Stacks Q4 2023 πŸ‘‡
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@redvelvetzip
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1 year
business in the front, unregistered securities in the back
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@redvelvetzip
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1 year
Cardano's TVL (USD) was up 199% in the first half of 2023. Even more impressive in light of ADA’s 27% price decline in Q2 TVL dominance is shifting towards newer protocols, and there are a LOT of new protocols
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@redvelvetzip
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@redvelvetzip
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1 year
State of #XRPLedger Q2'23: -Despite a Q2 pullback, XRP's price is up 42.5% YTD, from $0.35 to $0.47 -NFT activity is up 12.7% QoQ - @CoreumOfficial and @TheRootNetwork are live and building _ @Peersyst 's EVM sidechain (in dev) is iterating
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@redvelvetzip
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9 months
@StakeWithPride As of the end of Q3, Cardano would only be behind Mina on this list
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@redvelvetzip
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2 months
last week @degenofficehrs raffled off 5M $SMOKE on stream on Sanko TV worth $180 at the time worth $26,000 today study smoking the ticker study tomorrow being thursday
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@redvelvetzip
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1 year
1/ The #XRP Ledger had a big Q1! Let's recap
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@redvelvetzip
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7 months
Bitcoin is so back @MessariCrypto State of Bitcoin Q4'23 -Inscriptions activity exploded in 2023, pushing daily txs ⬆️ 85% YoY -NFT sales volume ⬆️ 1,294% QoQ -Fees ⬆️ 699% QoQ -Bitcoin L2s incoming -Spot BTC ETFs incoming
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@redvelvetzip
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11 months
zkEVMs are hard to build bc the EVM simply wasn't designed for proofs. also, the EVM is a pain Building an Eth rollup with the EVM is shortsighted. You're taking the worst part of Ethereum with you One example of an alt-VM rollup is @Starknet with its CairoVM
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@redvelvetzip
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10 months
The Nym mixnet brings privacy to not just crypto users, but internet users in general At the risk of sounding dramatic, this kind of tech is what makes me get out of bed in the morning. It's why I'm in crypto. Privacy, freedom tech, DePIN
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@redvelvetzip
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2 years
1/ @bobanetwork is firmly behind some of the more established competition in terms of general-purpose scaling solutions, but Boba is not taking the generalist approach. Boba remains the only multichain L2 and the only L2 on @avalancheavax , @BNBCHAIN , and @FantomFDN
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@redvelvetzip
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1 year
1/ @Namada is an upcoming L1 aiming to provide a single privacy pool shared across all assets and networks Interchain, asset-agnostic, privacy Let's zoom out to remember why this is important
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@redvelvetzip
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2 years
Inspired by the @MessariCrypto 2023 Theses, here's what I'm excited about in the near feature:
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@redvelvetzip
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3 months
Sanko beat the allegations and launched their L3 this week going live at 5pm ET with @sloth_boy_4u @AvgJoesCrypto and Sanko's CEO @smoovie420 to discuss the latest join the stream, smoke the ticker $DMT live in 2 hours
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@redvelvetzip
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5 months
@TrustlessState @build_on_bob @BabylonFinance @bounce_bit has a list of 27 layers so far (and will soon have qualitative analysis on each layer)
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@redvelvetzip
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4 months
Core Chain is all about Bitcoin DeFi, emphasized by its ongoing incentive program, Core Ignition the EVM's mindshare among devs and abundant tooling are great catalysts for the ecosystem, as over 10 native protocols are already live with more in development coreBTC allows users
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@redvelvetzip
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1 year
@Cardano Activity and liquidity both reached yearly highs. TVL (USD) crossed $183 million in June TVL ranking among all networks moved up from 34th to 21st in 2023
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@redvelvetzip
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1 year
State of @bobanetwork Q2'23: -Activity on Boba BNB’s ROVI Network drove average daily transactions up 1,390% QoQ to 130,000! -Despite a 45% QoQ decrease in BOBA’s price, revenue (in USD) grew 90.5% QoQ due to increased transaction volume
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@redvelvetzip
Red 🍰
11 months
I did enjoy much of his keynote. I was just taken back by his flavor of anarchy I’m not particularly involved in politics. The most I do is contribute small amounts of time to urbanism efforts such as adding protected bike lanes and removing zoning restrictions It’s our duty
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@redvelvetzip
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1 year
US Judges ruled today that XRP is not a security $XRP is up big following that news + 60% today + 122% YTD Huge for Ripple, the XRP community, and the broader industry!
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@redvelvetzip
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8 months
Fragmentation across networks is a huge part of crypto's bad UX The future is multichain, so we'll only fragment more But we're not stuck with bad UX. We can abstract away the complexity Axelar is solving this, as it continues to distance itself from classical bridges and adds
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@redvelvetzip
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4 months
Core Chain is a sidechain, using the novel Satoshi Plus consensus mechanism Satoshi Plus is a hybrid model of Delegated Proof-of-Work (DPoW) and Delegated Proof-of-Stake (DPoS) Bitcoin miners delegate their hashrate to Core validators just as stakers do with CORE tokens
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@redvelvetzip
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1 year
Stablecoins, among other factors, contributed to this growth Total stablecoin market cap grew 34.9% QoQ from $10.0 million to $13.5 million Stable assets are ideal for pairing in liquidity pools, borrowing and lending, creating leverage, and quick escapes from volatility
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@redvelvetzip
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1 year
Hosting a Twitter spaces to discuss Cardano DeFi with @RichardMcCrackn on June 14th 8pm UTC! Who else should join?? Let me know in the replies ⬇️⬇️
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@redvelvetzip
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10 months
State of XRP Ledger Q3'23 -US courts ruled that XRP is not a security -XRPL DEX volume was up 390% QoQ -Added programmability is coming to the XRPL and its broader ecosystem
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@redvelvetzip
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10 months
Check out the rest of the financial, network, and ecosystem metrics in the @MessariCrypto report here: (plus Q3 updates on Hydra, Mithril, and more)
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@redvelvetzip
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1 year
What role does the Cosmos Hub play in the Interchain (aka Cosmos Ecosystem)? The Cosmos Hub is a single sovereign network focused on interoperability & security. The Interchain is an entire ecosystem comprised of many sovereign networks However, this relationship is changing⬇️
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@redvelvetzip
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6 months
Is data availability confusing? Separating the concepts of history, state, and state transitions will help you understand ---Definitions History = all txs that have ever happened State = the outcome of all of those txs. The current state of accounts (or the current UTXO set)
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@redvelvetzip
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1 year
Development on various other sidechains and L2s signifies Cardano's multichain vision for the future, even as usage on the base layer continues to experience growth Read the full report on Cardano from @MessariCrypto here:
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@redvelvetzip
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10 months
Stablecoins are a core pillar of DeFi and imo were a major factor in the 2023 growth. shoutout iUSD and DJED Another growth factor was new protocols launched this year (that continued to take dominance in Q3)
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@redvelvetzip
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1 year
@MessariCrypto and if you learned something feel free to give a rt :)
@redvelvetzip
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1 year
1/ The #XRPLedger ’s primary use case is facilitating and settling cross-currency transactions, but there's some pretty sweet tech under the hood that makes it all happen
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@redvelvetzip
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26 days
Semantics police just pulled up to Nashville, hide your β€œtrustless” bridges and β€œrisk-free” protocols @januszg_
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@redvelvetzip
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5 months
Let's take a closer look at the Risk Assessment for @Stacks We used these four criteria: -Unilateral Exits -Data Availability -Block Production -State Validation
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@BitcoinLayers
Bitcoin Layers
5 months
Our protocol assessment on @Stacks has been completed. While Stacks does have a decentralized validator set, it’s not used to support either versions of cross-chain #BTC in the ecosystem. Users trust centralized operators when interacting with #BTC on Stacks.
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@redvelvetzip
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1 year
L2s, sidechains: Hydra Head moving forward w demos for new use cases & new topologies @Milkomeda_com and @PaimaStudios are already live, bringing EVM compatibility and a rollup framework for gaming (and yes, REAL rollups, just like Fuel v1) Midnight, World Mobile, & more otw
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@redvelvetzip
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7 months
Do you have the knowledge required to capture OP_CAT? Come test your skills in battle We've compiled resources to help you on your journey @NickDGarcia @iansagstette @QuantumCatsXYZ #OpcodeCritters #OP_CAT_IS_ALIVE
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@redvelvetzip
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4 months
The State of Bitcoin Q1 report by Messari is out. And free for the first time, no paywall! Programmability was the name of the game πŸ‘€ QoQ Metrics πŸ“Š - BTC ⬆️ 69% to $71k - ETF inflows exceeded $12b - TVL on layers ⬆️ 127%
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@redvelvetzip
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1 year
4/ Fungible tokens (like stablecoins or Ethereum's ERC20s) and non-fungible tokens (NFTs) are natively supported and share almost* all the functionality that XRP has *XRP must be used for wallet reserves, txn fees, and Trust Lines; and cannot be created/destroyed by users
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@redvelvetzip
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7 months
When BTC wins, both capital & users will be injected into every corner of the greater Bitcoin ecosystem. You are not sufficiently bullish on Bitcoin You should be watching the Bitcoin modular ecosystem (ie @BitcoinRollups , @Stacks , @chainway_xyz , etc) and Bitcoin onchain
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@redvelvetzip
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1 year
2/ The key features we'll explore here are -Issued Currencies -the native DEX -Accounts
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@redvelvetzip
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6 months
The Messari State of Bitcoin Q4 2023 report was just unlocked - it's now free to read πŸ‘€
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@redvelvetzip
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10 months
dcSpark is the same team behind Milkomeda C1 and EVM smart contracts being accessible from Cardano wallets MLabs also received a large chunk of funding great insights on the round from @LidoNation
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@redvelvetzip
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1 year
3/ Issued Currencies On most networks, the native token (e.g., Ether on Ethereum) has different functionalities from all other tokens (fungible and non-fungible) With the XRPL's Issued Currencies, this isn't the case
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@redvelvetzip
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1 year
8/ Authorized Trust Lines allow even further gaming at the asset level They enable issuers to choose which wallets can interact with their tokens. Sounds like a proper tool for stablecoin issuers to remain compliant with AML/KYC regulations
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@redvelvetzip
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4 months
Ordinal Theory was the catalyst for Bitcoin's community growth over the past 1.5 years tokens aside, miner behavior has changed in several ways more revenue bigger blocks out-of-band block building alternative revenue sources
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@redvelvetzip
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6 months
Starknet is one my fav projects; the ecosystem&community are as great as the tech Go to @nodeguardians and filter quests by the Cairo language for a great intro to building on @Starknet You may also want to check out rustlings and cairo-by-example(dot)com if you're new $STRK
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@redvelvetzip
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1 year
The stablecoin market cap rate of growth on @Cardano was huge in Q1! $ADA Still a long way to go for @Indigo_protocol @DjedStablecoin and others in development, but this comparison also shows the potential available market
@ph0rt0n
Peter Horton
1 year
@Cardano $ADA had the largest QoQ stablecoin market cap increase at 262%, driven by several new stable launches. Of the top networks by stables market cap, only @trondao 's increased, driven by the flow of USDC and BUSD to USDT.
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@redvelvetzip
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2 years
🀝
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10 months
@wanchain_org 's bridges made more stables available, such as USDC and USDT (as well as wrapped assets from other networks such as BTC!) More native stables are on the way - Mehen’s USDM and Anzens’ USDA
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@redvelvetzip
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1 year
6/ Because they are not created with heterogeneous smart contracts, dapp developers can integrate all XRPL tokens in the same way, another win for ecosystem devs (this is kind of why WETH and certain standards exist)
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@redvelvetzip
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1 year
#Cardano 's Hydra Heads are still new to mainnet and have yet to see the traffic that LN is experiencing due to BRC20s How will Cardano's state channels hold up to activity spikes in the future?
@ercwl
Eric Wall | BIP-420😺
1 year
This was just written by the creator of Nostr.
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@redvelvetzip
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5 months
set scene: you're a 66 y/o boomer. You've spent your life accruing insane wealth. You relish in your 7% YoY gains from your S&P index funds You're hanging at the country club when you hear your asshole neighbor Kenneth talking about his 11% gains in a BTC ETF He's an idiot.
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@redvelvetzip
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1 year
sovereignty note: if you think that sounds like a dystopian tool, we've already seen @Circle do the same by blacklisting USDC addresses used on @TornadoCash , so this is just a cleaner version of the same function. A centralized asset is a centralized asset no matter where it is
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@redvelvetzip
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2 years
crypto is hard. ask all the stupid questions! it's okay to not know everything in a field that incorporates computer science, finance, game theory, etc 'the one who asks a question is a fool for a minute, the one who does not ask is a fool for life'
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@redvelvetzip
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2 months
just built an oracle-based betting app with bitcoin script best part? no headache from setting up a complex local dev env all you need is a notepad app (or vs code if you feel fancy). you can rely on your web browser and mutinynet dot com for the rest
@super_testnet
Super Testnet
2 months
Don't forget to sign up for my Bitcoin Script workshop happening TOMORROW at 7pm NYC time! Write a bitcoin smart contract where Alice and Bob send one another a payment that only goes through depending on the outcome of a ballgame as decided by an oracle.
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@redvelvetzip
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1 year
I know what you're thinking, "these @MessariCrypto reports rock, where can I get more alpha?" I'm glad you asked, come to mainnet in NY this September! and save some money on your ticket with discount code ecj3ex-TiD4llxr
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@redvelvetzip
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2 months
catch me at Apex next week! lets sync up if you wanna talk about modularity
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@redvelvetzip
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1 year
7/ Remember Trust Lines from tweet 4? They're structures for holding tokens. In order to receive an Issued Currency, you need to set a Trust Line and lock up 2 XRP in the process (you can get it back later)
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@redvelvetzip
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1 year
15/ This breakdown by transaction type makes it easy to analyze on-chain activity OfferCreate and OfferCancel are for submitting/withdrawing currency-exchange orders, while Payment is exactly what it sounds like
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@redvelvetzip
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1 year
29 different transaction types make up the total transaction count on the XRPL Most transaction types decreased in activity QoQ, but not all Orderbook interactions, such as OfferCreate, still account for the bulk of transaction dominance
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@redvelvetzip
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8 months
If you haven't been paying attention this year, it's not too late, but I wouldn't wait any longer. Messari's 2024 Theses will get you up to speed Some of my interests going into 2024 are: Alt-VM Ethereum rollups Bitcoin programmability AI
@twobitidiot
Ryan Selkis (d/acc) πŸ‡ΊπŸ‡Έ
8 months
CRYPTO THESES FOR 2024 For the fifth year in a row, I wrote Messari's annual report to celebrate crypto's survivors and builders. Crypto remains inevitable. Here's why:
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@redvelvetzip
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7 months
Revolutionizing social coordination, overcoming the legacy financial system, and creating generational wealth are cool But have you tried marrying a baker that likes to make you pastries and cafecito
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@redvelvetzip
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1 year
@realSologenic @spacemermaids On the development side, -Hooks passed its security audit and is on track to bring smart contract-like functionality to the network -An AMM is in development (see XLS-30d) -A Proof of Payment standard was proposed (see XLS-40d)
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@redvelvetzip
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1 year
The Science of Blockchain Conference (SBC) ended on a great session about state channels and #LightningNetwork V refreshing after 3 days of largely Ethereum-focused talks on topics like consensus and cryptographic primitives!
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1 year
10/ The native DEX The XRPL has a built-in central limit order book. If we've got native Issued Currencies, let's have a native way to trade em
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@redvelvetzip
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1 year
12/ No more fragmenting liquidity between 100 forks of the same DEX, it's all shared The 'DEXs' on the XRPL are actually gateways to the internal native DEX. More like a frontend facilitating your interactions
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@redvelvetzip
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11 months
One week until Messari #Mainnet2023 in NYC! fav this xeet and I'll dm you a discount code for $200 off your ticket 😎
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@redvelvetzip
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1 year
I'm geekin over a partnership between Aztec and Nym. Super cool stuff @aztecnetwork is a privacy-focused L2 for Ethereum @nymproject is a blockchain-based mixnet Here's how Nym complements Aztec ⬇️
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@redvelvetzip
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10 months
Fund10 of Project Catalyst had a 50m ADA fund. 192 proposals were funded @dcspark_io was the top-funded team with 6.26 million ADA ($1.6 million) in funding; its top-funded proposals were related to @PaimaStudios
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@redvelvetzip
Red 🍰
1 year
XRP's price was down 10.7% QoQ following the yearly high set in March. Zooming out, it's still trending upward. Daily evenue had a sustained three-day spike in June, resulting in the increased avg fee & quarterly revenue
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@redvelvetzip
Red 🍰
1 year
does anybody else tell chatgpt 'thank you' after it helps you with something?
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@redvelvetzip
Red 🍰
26 days
If you’re in crypto, pivot to Bitcoin We’ve added @Starknet info to @BitcoinLayers - see why and see how to get your fav upcoming/potential layer on the site
@januszg_
janusz
26 days
We get a lot of requests to publish write ups for projects that aren't live. As an example, I wrote a page for @starknet ’s proposed #Bitcoin rollup. It’s now live on our site. Some info on the write up and how projects can self-submit πŸ‘‡
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@redvelvetzip
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1 year
@realSologenic @spacemermaids There are a handful of sidechains being developed by various teams that offer functionality not currently possible on XRPL mainnet @CoreumOfficial , focused on interoperability, scalability, and speed @TheRootNetwork , focused on NFTs and metaverse
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@redvelvetzip
Red 🍰
5 months
We've been cooking over at @BitcoinLayers ! This week we've -added new layers -added new infra -broke down upcoming layers between 'testnet' and 'announced' -updated filters to match changes -added initial research for Stacks, Core, and Fedimint. Research is being reviewed
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@redvelvetzip
Red 🍰
1 year
9/ Trust lines prevent spam of tokens. As an analyst, it's very much appreciated that I can get a relatively trustworthy gauge on the number of holders for a specific token For example, @realSologenic 's SOLO token has the most holders of an Issued Currency with over 200k holders
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@redvelvetzip
Red 🍰
1 year
17/ Much of what we think of as account abstraction on Ethereum is natively available on the XRP Ledger You can assign/modify additional key pairs, or create signer lists of whitelisted key pairs / accounts with the ability to contribute to multi-signed transactions w a quorum
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@redvelvetzip
Red 🍰
1 year
5/ This means tokens don't need to be deployed via smart contracts. As such, they are not vulnerable to exploits to the same degree as ERC-20s or ERC-721s Big ups for security and ease of access for non-devs, but there is less flexibility
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@redvelvetzip
Red 🍰
1 year
@realSologenic The #XRPArmy is interested in NFTs.
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@redvelvetzip
Red 🍰
6 months
Only a week until ETHDenver πŸ”οΈ Everything you heard about Colorado winter is true, good luck Who’s coming that’s building on Bitcoin❓
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@redvelvetzip
Red 🍰
10 months
@matchaxyz The move from 'transactions' to 'intents' feels like it has many parallels with the move from messaged-based execution to asset-oriented execution shoutout @SoorajKSaju and @DiMoneymindset for their always-insightful newsletter
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@redvelvetzip
Red 🍰
1 year
13/ Pathfinding, aka auto-bridging, matches DEX orders. This helps transact with lower-liquidity currencies
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@redvelvetzip
Red 🍰
24 days
You ask for risk assessments on Bitcoin scaling solutions, and you shall receive I'm proud to say that V1 of Bitcoin Layers is live and there's much more to come!
@BitcoinLayers
Bitcoin Layers
24 days
V1 of the @BitcoinLayers website has officially shipped πŸŽ‰ Check out our site for the latest reviews on #Bitcoin L2s, sidechains, and more.
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@redvelvetzip
Red 🍰
6 months
. @axelarnetwork Brief Q4 Key Update: The Axelar Virtual Machine & Interchain Token Service are in dev, coming to mainnet soon QoQ Metrics πŸ“Š -AXL ⬆️ 252% -Interchain volume ⬆️ 50% -Connected chains, 46 ➑️ 55 -Inflation 11% ➑️ 5%
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@redvelvetzip
Red 🍰
1 year
16/ Accounts First, we have destination tags, which allow a single account to represent multiple purposes/users. This is a useful tool for organization if you're a custodian/business, or even an inidividual
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@redvelvetzip
Red 🍰
10 months
Voltaire, the governance stage of the Cardano roadmap, is a dimension of Cardano that sets it apart from most competitors SanchoNet, a testnet for onchain governance defined by CIP-1694 guidelines, went live in Q3 This one is interesting. Resources linked in the report
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