$0.83879 -0.82%
ALGO · 4w

Bla bla bla... Watch any of Silvio Micali's videos and you will know everything you need to know about crypto...

SILVIO MICALI He said it all, and I'm paraphrasing here: ~"If I have a ledger that people can trust, that records every transaction and contract in history, and I have control over that ledger, I would be the most powerful person there ever was or ever could be"... Let that sink in for a second... There's so much to unpack there... But it proves Algorand is the only layer 1 blockchain worth having. And therefore the only blockchain worth having, since what's the point of layer zero to communicate between blockchains if there is only one layer 1 blockchain worth having... Ok, I can hear the "WTF"s already... Allow me to explain... TRUST Which ledgers can you trust? Well when you get right down to it you can only trust blockchains that use Proof of Stake. Why? Because Proof of Work has a tendency towards centralisation. Why? Because barrier to entry gets higher and higher, so fewer and fewer people can partake in the concensus mechanism. Holy crap, well that narrows the field down doesn't it?... Which two major blockchains use PoW?... 🤔 Overvalued much?... (Hint: BTC and ETH). But there's another absolute necessity for trust... No forking... If at any point you have two versions of your ledger, the value of your ledger, and the trust that can be placed it in it, automatically goes to zero... And that right there narrows the field down to the extreme... Which is the only blockchain that never forks?... 🤔 (Hint: ALGO) CONTRACTS Which blockchains actually support smart contracts? That narrows the field down too... (Hint BTC and ADA do not). EVERY TRANSACTION AND CONTRACT Think about it, every single transaction and contract in the world in real time... That requires speed and efficiency... Which two major blockchains are slow and costly to carry out transactions with?... (Hint: BTC and ETH). CONCLUSION Interestingly it turns out no forking is the biggest differentiator for Algorand. And the thing that makes it unique... Unique... Let that sink in... Li...
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