Bankless 98 - 5 Things We Got Right
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Dec 27, 2021 Reflecting on a transformative year in crypto, the hosts delve into their accurate predictions and surprising developments from 2021. They highlight Ethereum's rise, evolving perceptions of cryptocurrencies, and the explosive popularity of NFTs over DeFi. The conversation also explores the lessons learned and new mental models for the future, emphasizing the importance of cryptography and legitimacy in the space. Excitingly, they discuss the potential for another bullish year in 2022 and the innovative shifts in decentralized finance.
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Legitimacy as a Resource
- Legitimacy is a crucial social technology for blockchains, determining value and adoption.
- This shifts the focus from technical security to building the most legitimate blockchain.
Ultrasound Money
- ETH's Ultrasound Money thesis suggests it's on track to become the best monetary asset.
- Its monetary policy links the economy's growth to ETH's scarcity.
Modular vs. Monolithic
- Modular blockchains are superior to monolithic chains due to their scalability and decentralization.
- This model suggests that decentralization is key for long-term survival and scalability.