Recently I came across this quote by Eric Schmidt about web3 and Bitcoin in particular:
“The ability to create something which is not duplicable in the digital world has enormous value. Lots of people will build businesses on top of that.”
There are two things that are implicated by this quote which I find interesting. The notion that web3 protocols introduced the concept of digital assets which are not duplicable and digitally unique and that this is something people will build businesses on top of.
As we all know, it all really started 10 years ago with Bitcoin introducing what…
A lot of the current thinking and writing around Web 3 and what the future of a crypto-powered internet might look like, has a bottom-up focus on the future web stack — in the following I would rather like to take a top-down view onto the stack and not just highlight the fact that many of the services that we use today will most likely look different from under the hood, but more so the way we interact with them on the hood will be significantly different too.
When we go back in history, we can think of Web 1…
Most tech driven and developer centric ecosystems develop and grow in a similar pattern and within a comparable framework.
First there is the infrastructure and its early believers who start building key pillars and building blocks of that very infrastructure. Once the infrastructure is mature enough to turn into platforms, these platforms attract developer talent. In every developer centric ecosystem this is an important turning point — developers then start to build products, products attract users, users generate usage and (ideally) revenue streams, which can be re-invested into products and so on and so on.
In early April, the China-based mining entity Bitmain announced the release of a new ASIC mining rig (Application-Specific Integrated Circuit) dedicated to Ethereum mining. As one would expect, big news like this deeply shook certain parts of the Ethereum community. But how game-changing will ASICs mining really be and is there is a reason to be worried?
When ASICs were first introduced to Bitcoin mining in 2013, hash rate increased by an order of magnitude and GPUs became pretty much obsolete.
So far, Ether mining has mainly been done with GPU power. This fact has been incredibly frustrating for gamers…
Partner at Greenfield One, former AdTech Founder (apprupt — acquired by Opera), Techno Kid