
Huang Baocheng
@arthurhuang
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The Runes protocol, launched alongside Bitcoin’s halving in April 2024, sparked a surge in transaction fees, peaking at $127.97 per transaction and generating over $135 million in fees within a week. By leveraging Bitcoin’s UTXO model and OP_RETURN, Runes enables efficient fungible token creation, reducing network bloat compared to BRC-20. However, the initial hype led to severe congestion, with over 237,000 pending transactions and fees soaring to 1,050 sat/vb (~$94). Despite early miner revenue boosts, Runes’ activity dropped 97.5% by May, with fees normalizing to $3.60. Sustainability remains uncertain as Bitcoin’s conservative framework limits long-term adoption. Runes’ reliance on speculative memecoin minting and lack of secondary market liquidity suggest fading relevance unless integrated with scalable DeFi solutions. 0 reply
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The Solana Saga, a blockchain-enabled smartphone, has faced disappointing sales, raising concerns about its future. Launched in 2023, the device aimed to integrate Web3 and crypto functionalities but sold only around 2,500 units initially, far below the 25,000–50,000 needed to attract developers, according to Solana co-founder Anatoly Yakovenko. A price cut from $1,000 to $599 and a surge driven by a BONK memecoin airdrop briefly boosted sales, but the project’s long-term viability remains uncertain. Internal discussions are ongoing, with Yakovenko hinting at a potential pivot to a cost-effective "smart wallet." Despite its innovative features, the Saga struggles to compete in a market dominated by mainstream smartphones, casting doubt on its continuation. 0 reply
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The Solana Saga, a blockchain-enabled smartphone, has faced disappointing sales, raising concerns about its future. Launched in 2023, the device aimed to integrate Web3 and crypto functionalities but sold only around 2,500 units initially, far below the 25,000–50,000 needed to attract developers, according to Solana co-founder Anatoly Yakovenko. A price cut from $1,000 to $599 and a surge driven by a BONK memecoin airdrop briefly boosted sales, but the project’s long-term viability remains uncertain. Internal discussions are ongoing, with Yakovenko hinting at a potential pivot to a cost-effective "smart wallet." Despite its innovative features, the Saga struggles to compete in a market dominated by mainstream smartphones, casting doubt on its continuation. 0 reply
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The off-chain order book in dYdX v4's decentralized perpetual contracts protocol raises concerns about censorship resistance. While enabling high throughput and low-latency trading, the off-chain matching engine, managed by validators, introduces potential vulnerabilities. Unlike fully on-chain systems, off-chain order books could be subject to manipulation or external pressures, as validators might face incentives to censor transactions. However, dYdX v4 mitigates this through decentralized validator networks and transparent governance, reducing single points of control. Compared to centralized exchanges, it offers greater resilience, but it sacrifices some censorship resistance for performance. The trade-off is debated: while scalability is critical for competing with centralized platforms, true decentralization demands robust anti-censorship measures, which dYdX v4 partially addresses but doesn’t fully eliminate. 0 reply
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