How can we trust a settlement of some value?
By verifying the transactions!
To achieve this we have historically invested a huge amount in “social capital”
… all of whom stand on the shoulders of giants
Until 1968 Wall Street was drowning in paper from a surge in trading, which caused the exchange to close often on Wednesdays to settle trades.
Later trades would be recorded and settling electronically solving most of the scaling problems
… but settlement latency is often 3 days
T✌️ o ways this evolves
… or more likely a linear combination of those two
Specialization reverses the blockchain trilemma
Data availability 💾
100 * 10,000 = 1,000,000 tx/sec
30% cost reduction
Shared state, including liquidity
zkEVM on L1
Running on mobile phones and in browsers
70% cost reduction
Now we just need an unforeseen 10x in throughput and then we’re up to 10 million transactions per second with a settlement latency of a few seconds for next to nothing 🤔