My fellow retards,
Phon/ongod remembers from a past life, a study of Dijkstra’s algorithm to find the most efficient path in a graph. Yes, your deacon of abysmal hope has studied fundamental data structures and discrete mathematics in time spared from goat duty. This algorithm has one goal, to find the most efficient path between vertices and along edges of a given data set.
Elves sometimes wonder about the efficiencies for transactions happening in the cryptosphere. The way these systems work now is for a vertex (given address) to blast out the intention to route value or instructions from that vertex and interact with another vertex. This would be akin to a user signing with a private key a payload to either transfer the value to another user or to run some code at an endpoint (smart contract). These systems work, but they are not efficient. The receiving vertex does not get the signed payload from the sending vertex.
Instead the way cryptosystems work is by relying upon centralizing structures. Many may say this is a decentralization movement, but all transactions pass through the miners or validators, which act as centralized platforms within the larger system. Folks can argue about how anyone can participate, and that there are rules to be upheld, but regardless, they are centralized. They are centralized with infinitely better guarantees for users than what is provided from you local bank or other payment processor, but they are centralized nonetheless.
If cryptosphere was reimagined to be built in the most efficient method possible then transactions would go from one vertex to another. There would be no routing through a centralized system. Instead A would send directly to E. If A did not have a route to E, A would walk along another known route of nodes until E is the receiving end point.
Economic theory wasn’t founded on the proper marginal understanding—Eric knows we missed the chance to design what is actually a peer to peer system. Instead we have a hub and spoke model where these systems are reliant on centralized components such as mining and validation. A true marginal revolution would allow vertices to interact directly and privately. Phonon is designed with longevity and scaling in mind and is how transfers should be made.
The differential calculus of markets is gauge theory. Gold is a gauge theory. https://en.wikipedia.org/wiki/Gauge_theory
Eric suggests we need to liberate current day crypto from the problem of a global coordination layer, aka the blockchain. He doesn’t specifically mention, but he really means the coordination of individuals or machines that are required to process all transactions. Phonon is that liberation, Eric.
Phonon DAO will find its way to the ears of Eric and all the others, it is just a matter of time and effort.
Tips to phonongod.eth will be invested in bounties that advance the Phonon project.
Hatemail to phonongod@protonmail.com will be scathingly considered.
Targets for the marketcap of PHONON DAO remain:
$1b by Q2 2022, $12b by EOY.
On the high end, $300b marketcap in 3 years.