Weekly Recommendations | Detailed Explanation of Layer1 Parallel Execution Logic and Representative Players; Delphi Labs Discusses Why They Focus on the Cosmos Ecosystem
This week's 10 recommended articles in the cryptocurrency industry.Organizer: Hu Tao, Chain Catcher
1. “Detailed Explanation of Layer1 Parallel Execution: How do Aptos, Sui, Linera, and Fuel Achieve It?”
When we revisit the evolution of blockchain technology, a strong trend is emerging, namely that new L1s focus on parallel execution. This is not a new technology; Solana is currently using it in the Sealevel execution environment. However, the impressive performance of DeFi and NFTs during the last bull market has made it clear that there is an urgent need for technological improvements. In the next market cycle, several well-known projects adopting the concept of parallel execution are set to emerge, including Aptos, Sui, Linera, and Fuel. This article will discuss the similarities and differences among these projects, as well as the challenges they face.
2. “Smart Contract Development: A Comparative Study of Move and Rust”
Recently, discussions about Aptos and Sui have been fervent, as both are emerging high-performance L1 public chains, with the Move smart contract programming language being an essential component of these new chains. Some developers are actively transitioning to Move, claiming it is the future of smart contract development. Others are more cautious, believing that Move does not offer anything significantly new compared to existing programming languages.
The author of this article conducts an in-depth technical exploration of Move, its novel programming model, the Sui blockchain and how it leverages Move's capabilities, as well as a comparison with Solana and its programming model. To highlight the characteristics of Move, this article compares Solana/Rust with Sui/Move.
3. “Delphi Labs: Why We Focus Our R&D on the Cosmos Ecosystem”
Delphi Labs is the protocol R&D department of Delphi, with a team of about 50 people dedicated to building new Web3 primitives. Previously, the team focused on researching and developing protocols on Terra. After the collapse of Terra, Delphi Labs faced a significant decision regarding where to focus the builders' efforts. This article details why Delphi ultimately decided to conduct R&D in the Cosmos ecosystem.
4. “NFT Financialization and Commodification: New Consumption x NFT = NFG”
Satoshi Nakamoto believed that Bitcoin is a self-fulfilling prophecy. By analogy, if NFTs can achieve the same synchronization of belief and choice as Bitcoin, we have reason to believe that the value of NFTs can be continuously reinforced in the long-term Nash equilibrium. Of course, the anchoring of belief and choice is fluid; currently, NFTs have not reached the consensus level of Bitcoin, making it naturally difficult to control or ensure such anchoring. Solving this problem means we still need to increase the conditions that support the Nash equilibrium equation—namely, the intrinsic value and utility of NFTs.
Although the BendDAO liquidity crisis has been temporarily overcome, we must ask: after dodging this small storm, is the NFT lending pool model in the clear? Do other NFT lending pools' liquidation mechanisms still pose potential risks, and can they withstand the test of extreme market conditions?
In this article, we will systematically review the main protocols of the NFT lending pool model, including BendDAO, JPEG'd, Pine Loan, and Drops DAO's liquidation mechanisms, as well as how users can assess and control risks from their perspective.
6. “From Theory to Experiment, How Can Web3-based Network Nations Achieve a Community Vision?”
When a nation is not defined by a fixed territory and ethnicity, nor established through revolution, referendum, or war, but rather based on shared values, visions, and goals, is this possible? Economic recession, a slide into totalitarianism, and de-globalization are the current realities of the world, and people are exploring ways to change the existing political system. New technologies can bring about changes in organizational methods and production relations; blockchain technology enthusiasts pin their hopes for revolution on this.
The consensus among all investors and practitioners is that the crypto market has entered a bear market. And winter is the time to prepare for the spring sowing. What fruits will the future bear? Of course, we must ask those who sow. Huobi Research interviewed over 20 representative global investment institutions, hoping to use their development status, investment philosophies, and strategic directions as samples to understand how investment institutions assess the current state and trends of the industry and to discover promising sectors.
8. ““Trust in God, but Tie Your Camel”: The First Principles of Lending”
The crypto world is never short of faith and sentiment; whether it's Satoshi Nakamoto or Vitalik, the "crypto prophets" speak without words, and their followers tread carefully. However, the prophets are not responsible for watching the camels. When we prepare to implement the prophets' visions in the real world, there are always some basic logics that cannot be ignored. Beyond the prophets, we need "first principles," to find Aristotle's "most fundamental propositions in every system that cannot be violated or removed," so we can ride our own camels and safely reach our destination.
From identity to contracts, memes and structures, computation and cognition, and the three questions of the soul of money, each discussion in "Literature and Reason" delves into the "first principles" of the crypto world. There are certainly multiple "baskets," and first principles may appear in every corner—such as, have you ever considered what the "first principles" of the seemingly mundane concepts of "lending" and "liquidity" should be? When you passionately practice in the crypto world, is your camel tied securely?
9. “Arthur Hayes: Bitcoin in Times of War”
There is no doubt that a comprehensive economic war is quietly underway between the world's major powers. If governments use all levers to prevent their citizens from protecting themselves and their wealth, what choices do we have to shield ourselves from the potential devastation following a third world war?
In this article, the author explores how the United States, the United Kingdom, Germany, and Japan handle wartime rationing, and what this means for capital controls, the acquisition of food and its prices, and the ownership of "hard currencies" like gold. The author argues that under these difficult conditions (if the third world war escalates into a larger conflict, we may see this again in some form), Bitcoin will be the best means for civilians to protect their wealth.
10. “Babylon Finance Founder: Why We Chose to Shut Down and the Lessons I Learned”
On August 31, Babylon founder Ramon Recuero announced that the protocol would officially cease operations in mid-November this year, primarily due to the irreparable losses the team suffered from the hacker attack on the Rari/FEI lending pool in April. This article is Ramon Recuero's announcement, in which the founder details why he chose to shut down the protocol and shares his experiences and lessons learned while operating the Babylon project.
