My fellow retards,
Vitalik is smarter than you.
V just dropped some comments on why the future will be multi-chain but not cross-chain. V is smart, but phon/ongod does not read his word as gospel. V has been wrong in the past, but he has also shown humility. It seems he does not have the ego one would expect from someone so accomplished.
In his post, he argues that there’s good reason to have many chains. Different chains can have different communities, different values and support different trade-offs. Great—totally agree.
Next he argues some of the dangers of a cross-chain world. Mostly that while you have something locked up on a L2 from your base chain of choice, no miner can enforce a protocol illegal transaction to actually steal your funds. They can revert transactions, but they can’t break ecdsa to move your funds to their address, not until the quantum computers come.
The problem with cross-chain is different. If you own assets that originated on say Ethereum and are moving them around via some bridge on Solana, you don’t have the same guarantees. You can experience loss of funds and other heinous attacks. Your security profile goes from focusing on one chain to protect your assets to multiple chains and the design of the bridge you are using. It seems V isn’t a fan of these bridges—Phon/ongod agrees.
Now phon/ongod doesn’t hang out with big-brain Vitalik. If such an audience did occur, surely it wouldn’t be spent on scalability and bridges and danger in an emerging cross-chain world. Better to question which character in WoW would he want to get down with the most. Phon/ongod predicts the answer is Blood Elves:
Anyway, back to the cross-chain multi-chain whatever issue…
V is right, when looking at a L2 topology, that cross-chain crap is more dangerous. He’s pushing that communities stay segregated because when you mix Solanas and ETHunicorns on some mythical bridge, danger will lurk.
What our most esteemed crypto-lord does not imagine is cross-chain capabilities that take place beneath the networks rather than atop them. The Phonon network acts as a much safer way to go between chains than via some L2 bridge. Within the Phonon context, private keys that actually own the encumbered assets on their home chains are moved around, rather than representations of some assets which are locked up on their base chains. Because of this, you run into ZERO of the criticisms that V asserts exist in the cross-chain world. To be fair, Phonon is more of a multi-chain panacea in its design than a cross-chain bridging system.
Anyway, if you retards ever hang with V, perhaps show him the design of Phonon and ask if he agrees with the assessment of this humble simpleton. Don’t you dare ask him about the WoW hotties – that question belongs to phon/ongod, if ever they should be graced with V’s company.
Join the PHONON conversation: https://discord.gg/TTfBrVnh
Target for the marketcap of PHONON DAO remain- $1b by Q2 2022, $12b by EOY. This is equal to ~$0.30 and ~$3.25 per PHONON. On the high end: $300b marketcap in 3 years (or ~$100/PHONON).
New prediction: Jack Dorsey’s SquareBlock will try to buy GridPlus due to the innovation of the Lattice1. More than $1b will be offered.
[Not financial advice – for entertainment purposes only]
phon/ongod out.