There’s no reason why everyone with a smart phone shouldn’t be able to access basic financial services including good money.
The reason is because the world has identified monies and sanctions of money as an effective way to deter or punish bad actors in the world
liability side would be a digital bearer asset, and a rather efficient one at that.
digital bearer asset means a token (or luggage tag?)
In other words, we would be willing to pay a price/FCF ratio of roughly 11x, if we want 12% annualized returns on these cash flows.
dont understand this part
solana likes to claim in its marketing material that it is way faster with zero tradeoffs. this claim is stupid. it is very true that solana optimizations are legit, often very clever. its not like bsc which just cranked up some numbers and kicked the can down the road but what is being traded against, dear developer, is your time and your sanity. much of the complexity that solana requires to achieve the tps it does is simply placed on your doorstep. compared to ethereum, the system is much more complicated and difficult to reason about, and much must be done by hand
lol
instead of flood filling the mempool theres deterministic leader selection and nodes forward transactions to future leaders.
deterministic leader selection here is super important and relates to the above 2 notes, only the leader is selecting the order of the transactions here. the rest of the validators are just validating the hashchain and voting for it (or against it)
With a deterministic leader, publishers of transactions also know deterministically which node to send their transactions to (which is leader and its backup/s)
this removes the need for a mempool
the hash chain is canonical across validators, but validators can produce them independently without needing to wait for committed blocks. these hashes are used as a rudimentary clock, to be able to prove things happened in a certain order, and that some arbitrary amount of time elapsed between them. sharing a clock simplifies some of the woefully complex coordination problems inherent in blockchains
when the leader chooses a certain order. they create a hash chain using POH hashing and send it to other validators to make sure that that POH chain is a valid one. ie. each hash is properly hashed with a prev hash.
This validation can be done using parallel cores and is much faster than the construction of the hash chain
call(g, a, v, in,
wow "call gavin"
It is better to have 100 functions operate on one data structure than 10 functions on 10 data structures.
This is actually very good advice
Depend upon abstractions, not concretions.
how to do in rails?
These properties of the dependency graph mean that the components can’t be reasoned about, or evolved, separately
read the part on orthogonality in the pragmatic programmer
We generally stand by the original ideas as described in Deconstructing the Monolith,
This was a good article
prompts are necessary for a desired behavior to happen, but they're ineffective unless there's enough motivation and ability.
This is a great piece of assertion
It requires strong will to force the adoption of values and attitudes which can quicken the pace of change.
no such soft power if speed is necessary
high modernism, centralized authority, and weak civil society.
what does weak civil society mean?
To write clean code, you must first write dirty code and then clean it. […] Learning to write clean code is hard work.
An analogy for this is always speaking in chinese proverbs, according to ancient chinese literature, this is best practice. there is a "pace" and word count that you must adhere to.
doing that is not easy, and similarly writing clean code at the onset