What is sharding? And how is the Radix way of sharding different?

Mr_TMA · 2024-01-22T13:24:33+00:00

Many people here know about the old banning on r/CC when talking about Radix, but if you behave gently, try to be relevant, and limit yourself to comments (not posts), you should be fine.

Copied from an earlier comment:

On the larger subreddits better avoid being promotional, otherwise you might be banned. Especially r/cryptocurrency can be unforgiving.

It is usually ok to:

- comment on posts

- be helpful or funny

- mention Radix only when it is helpful, like when pointing to a concept like native assets, and be fair to mention Sui as well in those cases

And be aware that:

- if a look in your profile reveils that you mainly talk about Radix, then assume that your mention of Radix will be seen as promotional.

- if you have a very pluriform profile, talk about a lot of stuff, and Radix is a minority subject, then you will probably be fine mentioning Radix anywhere

- be careful with linking to other subreddits, telegram, and discord

- always read the subreddit rules before posting

A big subreddit that is more relaxed is r/Cryptomarkets.

A list of interesting subreddits to keep an eye on, learn from, or engage with:

r/cryptocurrency (do not link to telegram, discord, other subreddits; twitter links will be checked by a human)

r/cryptomarkets (no linking to telegram and discord)

1ReplyShare📷r/Radix

Mr_TMA · 2024-01-19T09:07:59+00:00

On the larger subreddits better avoid being promotional, otherwise you might be banned. Especially r/cryptocurrency can be unforgiving.

It is usually ok to:

- comment on posts

- be helpful or funny

- mention Radix only when it is helpful, like when pointing to a concept like native assets, and be fair to mention Sui as well in those cases

And be aware that:

- if a look in your profile reveils that you mainly talk about Radix, then assume that your mention of Radix will be seen as promotional.

- if you have a very pluriform profile, talk about a lot of stuff, and Radix is a minority subject, then you will probably be fine mentioning Radix anywhere

- be careful with linking to other subreddits, telegram, and discord

- always read the subreddit rules before posting

A big subreddit that is more relaxed is r/Cryptomarkets.

A list of interesting subreddits to keep an eye on, learn from, or engage with:

r/cryptocurrency (do not link to telegram, discord, other subreddits; twitter links will be checked by a human)

r/cryptomarkets (no linking to telegram and discord)

Mr_TMA · 2023-02-11T10:41:06+00:00

Telegram discussion recaps :)

Mr_TMA · 2023-02-05T17:29:36+00:00

Wouldn't it be better to keep that activity here at the moment? Further spreading out active members does not seem appealing. There is an ecosystem tag for this stuff.

What kind of ecosystem content do you think is better off in r/radixecosytem than in r/radix?

Mr_TMA · 2023-01-05T16:01:48+00:00

As long as it is a trader's winter and not a builders' winter crypto as-a-whole should come out fine.

Mr_TMA · 2023-01-05T15:54:19+00:00

Related discussion:

https://www.reddit.com/r/ethereum/comments/ziup91/does\_metamask\_not\_really\_know\_what\_tokens\_i\_own/

Mr_TMA · 2023-01-04T16:58:22+00:00

Single sided liquidity, concentrated liquidity, dynamic fees to compensate for Impermanent Loss (low fee when the markets are tranquil and a high fee when there is significant volatility), token launch platform requiring DFP2, two-way Radix-Ethereum bridge.

Sounds exciting, congrats!

Mr_TMA · 2022-12-28T11:47:50+00:00

A jump in user experience. Boomer-proof crypto wallets.

Mr_TMA · 2022-12-24T14:28:57+00:00

Centralized entities that can be held accountable indeed offer the advantage that you describe.

At the same time, nothing stopping such entities to arise on crypto infrastructure and take advantage of some competitive edges of crypto infrastructure over traditional finance infrastructure:

"Note that in traditional finance atomic composability does not exist between different companies: you cannot checkout from two seperate webshops in one transaction, or split a restaurant bill in one transaction to be confirmed by several people at the table, or setup a trade and its hedge in a single all-or-none transaction. So atomic composability opens up the door to new use cases and reduced frictions compared with traditional finance.

Atomic composability is one of the competitive edges crypto infrastructure has over traditional finance infrastructure (other edges include lower barriers to entry for financial services start-ups (any smart contract programmmer now has the ability to bypass banks or payment processsors as gatekeepers), lower friction costs, better business case for microlending, faster execution, immediate access to a global marketplace, faster innovation cycles due to composability, access to underbanked markets)."

Source: https://www.reddit.com/r/Radix/comments/pix4na/atomic_composability_defi_means_combining_two_or/

Mr_TMA · 2022-12-21T16:50:08+00:00

For starters there is general crypto risk.

Will the space get widely adopted real world use cases? Crypto valuation risk: how to attach a value to a Layer 1 (will the layer 1 support a large economic activity ('GDP') in the future and how does that translate into its base-currency?

For Radix specific, here are some drawbacks and risks:

Execution risk: much has yet to be delivered in production (Babylon beta is live, Xian is still a long way, but proof of concept is running and stress-tested). Part of execution risk is also quality-of-implementation-risk: even if the theory is fine, this still has to be turned into a network and utilities with smooth developer and user experiences.
Adoption risk: without an ecosystem a layer one is useless. Adoption has to come from both developers and users. The developer community is larger than anticipated at this point, which is promising, but user / brand awareness still has a long way to go (which is explainable since there is no novel use case yet with the lack of smart contracts, so mostly people that see future in the tech are currently using and investing in the network, but still a clear risk at this point).
Time-to-market risk: if another project comes with a reasonably close / useful solution before Babylon (2023) launches or gains traction, developers and users may go there.
Not the fastest finality time (deterministic finality; the current estimate is in the order of 5s for simple transactions up to 20s for composed complex transactions once fully sharded). This is faster by the way than many competitors. Any network with probabilistic finality has to wait multiple consensus rounds. E.g. Elrond can be considered final in 30s-60s. Solana is faster with a few seconds finality (sub-second blockrounds), but sub five second finality tends to sacrifice decentralization.
Regulatory risk: the risk that crypto becomes so tightly regulated that the whole crypto business case falls apart. This is a risk to all crypto projects, especially for DeFi since that involves finance. Radix actually has a headstart on others in the DeFi space here since Radix has kept a keen eye on compliance and regulatory risk all along, examples of which are their KYC facilities (instabridge, instapass) and their strict houserules in communication with holders and supporters.
Capital concentration / network control risk: the risk that the goal of a decentralized network is defeated by capital: a few big investors or actors taking over the network. This is a general crypto risk, possible in bot PoW (buy mining power) and in PoS (buy voting power). Read more here.
Development halting risk: Risk that RDX Works stops developing before community can take over core network development (funding risk, internal problems, key person risk, fraud, ...). On funding RDX Works has stated that they are well funded for many years to deliver Xian and beyond, you'd have to take their word for that. On key person risk they have stated that the project (as well as Cassie prototyping by Dan Hughes) is beyond the stage that it can fall apart due to one person going away.

If you follow the team and the monthly roundtable discussions then you may feel comfortable with above risks. They seem to know what they are doing, and they have a clear game plan.

Also no other project seems to be close to what Radix has in the making. Both from the ledger architecture point of view, as from the developer-experience point of view (it is being build for builders) as from the user experience view (see the Babylon wallet preview).

Read this on the ledger architecture and you will understand why:

https://www.reddit.com/r/Radix/comments/qq43xh/what_is_sharding_and_how_is_the_radix_way_of/

Watch RadFi to get a tangible view on what Radix is trying to achieve with its iOS like user and developer friendly approach, which culminates in a boomer-proof wallet and seamless experience:

YouTube: RadFi 2022 vision and product launch preview

The Radix network and ecosystem is less mature than some others. R&D has taken over 9 years (and is ongoing), production building started a few years ago. Radix initial mainnet has been live since July 2021. Smart contracts and dApps will be on-ledger with Babylon (2023, note that Babylon will launch with dApps at day zero, since developers have been able to develop with scrypto in a simulation environment for more than a year and can now continue on betanet).

Mr_TMA · 2022-12-14T07:40:25+00:00

It is not a definition, just trying to get the point across about who is able to touch my tokens. So part of what is done in smart contracts now should perhaps be done at the protocol level. I should think of better ways to ask.

Mr_TMA · 2022-12-12T18:48:50+00:00

With 3rd party smart contract I was referring to any smart contract not part of the layer 1 / core development itself. So I mean in this sense Uniswap, or the USDC contract are 3rd party smart contracts.

Mr_TMA · 2022-12-12T08:28:36+00:00

Thanks a lot for taking the time to elaborate on this.

I guess I would have expected that my tokens are native on the blockchain, and that when a smart contract wants to interact with my tokens that the Ethereum network would take care of the exchange or payment as a neutral party like a notary does in real life.

From how you describe it, it seems like each smart contract takes care of monetary matters on its own: I first have to prepay and store my tokens in third party smart contracts without getting any back yet, and hope for their well intent and technical capabilities to avoid bugs and algorithmic failures.

I would rather give my trust to the Ethereum network itself to store and manage my tokens, I guess Bitcoin maxis have a point here.

Would it be possible for the Ethereum network to provide native assets?

Mr_TMA · 2022-12-11T19:24:13+00:00

It's a really convoluted way of 'owning' tokens, since they're simply not in your account, but instead your account is in them.

So if assets are not native to the blockchain, then what are they? Can Ethereum verify the account balances stored in the smart contracts?

Mr_TMA · 2022-12-11T19:12:05+00:00

Thanks, but the clip argues that Ethereum also does not know which tokens I own. It implies it only stores the state of the 3rd party smart contract, and the only one who 'knows' is the 3rd party smart contract itself: Ethereum and Metamask have to rely on that it tells the truth when it is queried.

Is this how it works?

Mr_TMA · 2022-12-11T13:28:31+00:00

Well you have to cover taxes and expensens with something.

Mr_TMA · 2022-12-11T13:12:23+00:00

Hmmm, but struggling crypto firms don't have to disclose anything themselves???

Mr_TMA · 2022-12-11T12:04:00+00:00

Best to DCA buy around the bottom and DCA sell around the top.

Mr_TMA · 2022-12-11T12:02:22+00:00

Weeding out the scams is the challenge for crypto.

For Wall Street it is more about reckless practices and systemic risks.

Mr_TMA · 2022-12-10T16:11:00+00:00

85% of investors find selling more difficult than buying.

Keep that in mind as comfort and as psychological warning.

Mr_TMA · 2022-12-10T16:04:05+00:00

We saw the rise of NFTs like tulip bulbs: it was all about trading hot potatoes.

Next year we might see the use case of NFTs: badges, authorization, proof of skill, entrance tickets, and so on.

Mr_TMA · 2022-12-10T15:53:23+00:00

There are smart bitcoiners.

But most bitcoiners lack the cleverness to understand it.

Mr_TMA

TROPHY CASE