onchain | dev | data | building @protonauts

Joined February 2011
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Feb 24
convictions unchanged
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Jun 10
gunna be a very chinese summer
You will live in the pod, eat the bugs, use the only AI, and live on UBI.
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Jun 4
Taiki calls out the worst case scenario literal hours before a Zcash vulnerability is posted. "Worst case scenario is crypto going to literal zero. Maybe second worst case scenario then." "I guess the worst case scenario right now is HYPE gets exploited, Zcash gets exploited, quantum takes Satoshi's coins, and then Ethereum goes to $10,000. Then I'm truly in shambles."
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Jun 3
opening twitter and seeing the lack of conviction
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I have never seen so many people capitulating out of $ETH or crypto. Some are writing blogs and essays explaining why it failed, mainly naming how other chains won the race, measured by fees taken in. Some of my thoughts, in these hard times: Time will tell, but I think many people are mistaken in treating $ETH like an end-stage $AMZN, as if the main question is already about mature margins, fees, and cash flows. In reality, Ethereum is still very much earlier in its economies-of-scale phase, with nearly all metrics in the top right corner and growing at mid double digits to tripple. Furthermore, most of the market is focused on the wrong battle: who can become the fastest and cheapest payment processor. Lower fees, higher throughput, faster settlement. But that is likely a race to commoditization, similar to the payment processors crash over the last years. If the only value proposition is speed and cost, then the moat gets thinner over time, easy disruptable. Someone can always be faster. Someone can always subsidize fees lower. Someone can always optimize one narrow use case. The real value may not be in the transaction fee itself. The real value is likely in the amount of economic activity secured by the network, the credibility of that security, the neutrality of the base layer, and the difficulty of replacing it once enough assets, applications, institutions, and users depend on it. That is where Ethereum seems different to me and why so many institutions are choosing $ETH. Most other projects still feel replaceable. They may have better performance in one area, better UX in another, or lower fees in the short term. But if their advantage is mainly technical efficiency, that advantage can be copied, competed away, or made irrelevant. The newest hottest thing today is replacing the hottest thing from last quarter. Ethereum’s bet appears to be much larger: become the most secure, decentralized, credibly neutral settlement layer for the internet economy. Not the cheapest rail. The hardest rail to replace. In the end, the most valuable network may not be the one with the lowest transaction costs. It may be the one people trust most to secure the highest-value assets and applications over the longest period of time. If $ETH can retain its market share while continuing to scale through upgrades that improve speed, throughput, and fees, its potential remains significant, especially if AI agents become truly crypto-native. If it combines all of the above and earn the crown as the leading value-secured network, then $ETH could eventually be viewed as something like a truly decentralized, inflation-adjusting global bond: securing the world’s assets, free from political meddling, and deserving of a premium market cap because of the value it protects on top of the deflationary pressures create incentives to stake, get yield and trust the equivalent of buybacks and griwth in value secured to provide additional value. Keep in mind over 1/3 of $ETH is now staked! In that scenario, $ETH would not just be another asset to hold. It could become one of the only truly neutral and secure bonds for the digital economy. ... But sure, lets compare it to $SOL with 6% inflation, no moat, no security, massive outages, decreasing validator nodes and alike. it just all feels like people are getting lost in short term fees and the easiest valuation attempt rather than what $ETH is actually built for, all while its testing its bottom range and players go full portfolio into AI.
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Bankless guy sold the last bit of his eth. Drop the thesis.
Some of my perspective on where the @ethereumfndn is going. First of all, this is only my own view. The board is not just me, and I have no extra special powers on the board that the other board members do not. @aerugoettinea is the one executing much of this transition. My input has been largely on technical questions. The board is in the process of expanding, and my own power within the org will continue to decrease, which is honestly what I want. The 2025 era brought many important improvements to EF and its ability to execute. Many issues were resolved, and EF continues to benefit from its improved efficiency and greater focus on concrete goals to this day. And so with those problems resolved, early this year, the largest remaining hole that I perceived was something different nagging at me: I would regularly spot people saying things like "vitalik says these beautiful things about ethereum needing to be decentralized, and have privacy, and be a sanctuary technology, but why do the EF's actions not reflect that?" Now, you may have been hearing something different. You may not have been sensing a feeling of crisis at all, and maybe were hearing people saying that finally we were taking execution and BD seriously and the main task for us is to keep going that way and be even better and faster. Then probably there is genuine difference between you and me, in what kinds of criticism I take most seriously, and what kinds of critics through their criticism are most able to make me feel pain. As an analogy, let's briefly switch over to a different domain. One belief you can have about Google is that it is a success story, and has brought a lot of good to humanity in organizing the world's information. Another belief you can have about Google is that they had a beautiful idealistic beginning, but at some point the corruption of mainstream corporate attitudes seeped in, and they slowly bit by bit completely abandoned the "don't be evil" slogan. My belief on Google specifically is probably somewhere between the two. BUT, if you had taken me back in time to ~2008, and offered me a button to press to make Google one or two standard deviations more "dogmatic", eg. give Richard Stallman permanent veto power over some key policies, I would immediately press it. Why? Because a choice for one company is not a choice for the world, or even one country. Google existed and exists in the context of a technology industry generally drifting away from early idealistic don't-be-evil roots and toward greed for financial gain, totalizing visions of accelerated superintelligence, infiltration by sociopaths, and craven capitulation to (or worse, active participation in) government pressure for ideological control, surveillance and war. And so *one company* doing something different, positioning itself to be what George Bernard Shaw calls the Unreasonable Man, resisting the trend of the times, would have been better for freedom, balance of power and stability of society as a whole, than *all* large companies bending to dominant trends. This is a part of my version of pluralism. This line of thinking is not just mine, but I also is not too far off from what Aya and others had in mind with the Mandate. Now how does this all get to the role of the EF? EF is not a "center of Ethereum", rather EF is "one node, with a defined purpose, alongside other nodes". We've always said that the EF should be the latter, but many in the Ethereum ecosystem (and even within the EF) wanted us to be the former. Now, we are taking action to ensure that we will be the latter. This is particularly important because EF is a limited organization, with limited resources and limited organizational capacity. The EF has only ~0.16% of all ETH (less than many other individual ETH holders), whereas among other blockchains it's common for "the central foundation" to have 10-50%. Fiscally, the EF was originally designed to fulfill a limited work scope defined in the token sale docs and other pre-launch materials (building the chain software; getting through Frontier, Homestead, Metropolis, Serenity), which was fully completed in 2022; it was not designed to be an eternal steward. And so today, the EF is choosing to use its remaining resources to pursue longevity over breadth (yes, this means we sell less ETH). The EF focuses *specifically* on those activities critical to the success of ethereum as a censorship/capture-resistant, open, private and secure system, that would not happen otherwise. This means making hard choices, and in some cases even activities that we highly approve of and people that we highly respect becoming outside of the EF. People of great technical talent, public respect and even alignment with the mission and CROPS being outside of the EF is in fact necessary if we want important tasks to be able to attract outside capital. This also means the EF taking opinionated stands culturally. This is all intended in cooperation with all other parts of ethereum. We recognize that many other parts of the ethereum world highly respect CROPS and related values. But highly respecting is not the same as choosing to specialize and totally dedicate to a domain (Compare in a different domain: I think reducing animal cruelty is important, and I like vegan food, but am not full unconditional vegan myself) EF is still in a transition period, and we expect its new long-term form to stabilize over the next few months. What are the guiding principles of this new form? Again, I am only one person, but I can give my answer from a technical perspective (there are also critical non-technical aspects). At the core, *Ethereum must be impressive*. We are living in an age of highly intelligent AI and all kinds of other technological acceleration. "Status quo EVM, with a hard fork or two a year to optimize for short-term needs of users" is not interesting. To some, "impressive" means: 250ms latency and 1M TPS. I think Ethereum trying to go that route is a mistake. Being as fast and as scalable as possible, and only a small epsilon more decentralized than the others, is a route to mediocrity, and if we try it we will lose. I think Ethereum should scale. But I think Ethereum should strive the hardest to be deeply impressive in a different dimension: the CROPS dimension. This means things like: * Provably bug-free Ethereum. This is a goal that all cybersecurity researchers would have thought is absurd and impossible, up until roughly 6 months ago. Now, it's on the cusp of being possible, thanks to AI-assisted formal verification. So we should be frontrunners in doing this. * Available chain consensus. Ethereum is, and with lean consensus will cotninue to be, the ONLY chain that has both (i) traditional-BFT style properties that it's safe under asynchrony up to a high level of fault tolerance, and (ii) the bitcoin PoW-style property that under synchrony it's safe up to 49% attackers. As far as I can tell, literally no other chain has this or is planning for it; bitcoin goes for (ii) only and most other chains go for (i) only. Some will remember I fought hard for this, Unreasonably insisting that it is not OK for ethereum to rely on social consensus and hard forks to rescue ethereum from 34% of nodes going offline. It's OK for chains like hyperledger, bnb, solana, tempo, etc. It's not OK for bitcoin or ethereum or eg. zcash. * Intermediary minimization. The fact that smart contract wallets, protocols like railgun, etc have to send transactions through intermediaries to get included onchain is honestly embarrassing, and it's a constant point of fragility. Hence the work on FOCIL and EIP-8141 (and 7701 and years of work before) to make transaction sending intermediary-minimized with public mempool and strong inclusion properties, in a truly general-purpose way, that covers not just eg. secp256r1, but also privacy protocols and much more. Kohaku is pushing intermediary minimization at the user layer, pulling Ethereum away from the dystopian status quo world where our wallets don't even verify the chain, send our private data out to a dozen third-party servers, and toward a brighter CROPS future. Some of these goals are Unreasonable - maybe Ethereum would be "fine" getting only 50% of the way - what if we depend on intermediaries, but make it easy to switch? But going 50% of the way would not make Ethereum Deeply Impressive in the CROPS way. So we push for 100%. Fortunately all these goals are compatible with high TPS, this is a major focus of research (esp. on scaling the state). Well-designed L2s can also help, especially L2s optimized for specific applications (eg. high-volume trading, privacy...). These goals are even compatible with significantly lower slot times, thanks to Raul's work on erasure-coded P2P, and many other optimizations. The most high-value "product" of the ethereum blockchain, financially speaking, is ETH the asset. Ethereum secures $250 billion of ETH. The types of properties of Ethereum that I mentioned above are very good for ETH the asset. Nearly 90% of my net worth is in ETH, and most of the remainder is ~$40m of onchain fiat of which every dollar has already been allocated for some open-source biotech or software or hardware initiative. That said, there are aspects of supporting ETH the asset - *necessary* aspects even - that are outside the scope of the EF. This is where we need other heroes (some of whom hold more ETH than the EF does) to step in and help. EF has been recently thinking more about how it will relate to other such organizations, and give them needed initial support. EF will be a smaller ship than in previous years, a more opinionated one - in some cases more opinionated in ways that might be difficult to comprehend - but a longer-lasting one, and one suited to making sure that ethereum brings something meaningful to the world. We are grateful to all those inside and outside the EF who are helping to make this happen.
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May 18
lot of vc chains gunna go to 0 overnight btw
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May 17
what a weekend to rewrite my whole backend :)
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May 14
this is peak art is sometimes about the medium, but always about the message
May 12
i just generated an image in the style of a Monet painting using AI please describe, in as much detail as possible, what makes this inferior to a real Monet painting
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May 13
all of these things were pre-existing human engineered vulnerabilities they were most likely found and exposed with AI tools there will be more
Security things from the last few days: - CopyFail (linux pwn'd) - CopyFail 2/Dirty Frag - 13 advisories in Next.js - Over 70 CVEs addressed in MacOS 26.5 - ~50 CVEs addressed in iOS 26.5 - YellowKey (Windows Bitlocker pwn'd entirely) - GreenPlasma (Windows privilege escalation) - CVE-2026-21510 and CVE-2026-21513 confirmed to be used by Russia for Windows RCE - CVE-2026-32202 separately confirmed to be used by Russia for sensitive document access - Mini-Shai Hulud (over 300 JS and Python packages compromised via GitHub Action cache poisoning) - Google confirms they have identified AI-powered exploitation of zero days in an unidentified "open-source, web-based system administration too" - Canvas (popular LMS used in most schools) pwn'd entirely - PAN-OS (palo alto networks) pwn'd with a 9.3 severity CVE-2026-0300 Are you scared yet?
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Apr 22
when Claude starts referring to the codebase as “my code” instead of “your code”
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Feb 24
convictions unchanged
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Apr 21
when you need ASI to read solana transactions
Apr 21
block explorers are dead introducing @LanaAI — an AI that lets you talk to Solana interactively - ask anything about tokens or wallets - trace transactions, flows, and histories - generate reports and CSVs - rebalance your portfolio, place trades, and more now in open beta
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Apr 14
love a little onchain game theory built on @base 🟦
A coordination game is a type of simultaneous game in game theory where players can achieve higher payoffs by aligning their actions. One of the best examples of a coordination game in pop culture is the Joker's introduction of the Prisoner's Dilemma in the "Boat scene"
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Apr 12
two types of senior engineers i see rn one is yelling at junior/mid level engineers telling them they can never achieve their level of knowledge with AI and they should give up/change professions (these people were always gatekeepers and they’re mad the playing field is becoming increasingly more level) the other is too deep in the weeds building amazing things and pushing the boundary of what’s possible while also trying to figure out how to skill up people around them to ship. these people could teach the sales team how to build their own CRM and would be excited to do it if it benefited the company. choose your side.
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Apr 12
if you can’t level up a mid tier eng hire into a senior internally than your company lacks real seniors massive skill issue
Apr 11
having mid developers is now going to slow your company down before a mid developer would do mid tasks like crud monkey work, forms, etc, which is fine, that needed to be done now you have a mid developer being able to generate massive amounts of slop code, but they don't know it's slop, so the better/senior devs need to review the slop creating a bottleneck of vibe coded slop
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Apr 7
but how good is Mythos at making threejs browser games?
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Ranking engineers by token spend is like me ranking my marketing team by who spent the most money. We may not have hit our KPIs, but Joe spent $200k on a branded blimp that only flies over his own house, so he’s getting promoted to VP! Don't mistake a high burn rate for a high success rate.
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We’re excited to announce the Chimpers World Hub is now live! Explore the entire Chimpers ecosystem in one place, the story, characters, collectibles, and more. Dive in 🐒✨ world.chimpers.com/
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