Well just like I predicted, an Ethereum to bitcoin ratio break of .05 was on the horizon.
That happened late last week...But like I also mentioned, and predicted... this .05
ratio number, is a turbulent time, and the break won’t be so easy.
Friday, Ethereum slipped under!
But by late Saturday, .05 was broken once again!!
As of Sunday, yesterday, we were pushing up towards .052…what does the future HODL because
of this?
Find out in 10 mins, give or take a few...because it’s time for Chico Crypto!
The trend is your friend, my friends.
The trend right now is Ethereum is hotter than Bitcoin!
And there is a nice new tracker I found at ratiogang.com...which has a bar meter, that
fills!
And it shows you important ratio numbers, and where they are.
Halfway to the FLIP, where at least Ethereum should be right now, is just over .08 and
to the flip, is just over .16!
And now that it’s the popular thing, and it’s really starting to build a narrative,
Ethereum to FLIP, here comes the HERD, the normies….calling for what we’ve been saying
would happen all year while they were supporting Cardano blessing the rains down in Africa!
But now they are here, talking about how ETH is the one, as it’s the popular thing to
do...well you want to know what’s going to be popular next!?
The next iteration, the next wave of protocols and dapps built with ETH2 in mind…and I
started my coverage with a very important one, this weekend.
The Truebit protocol….
Truebit is a smart contract scalability protocol, which is getting BIG eyes since it’s stealth
launch!
Fred Ehrsam, co-founder of Coinbase, tweeted this April 13th, during the stealth launch.
“TrueBit looks like a natural solution for scaling computation on Ethereum, despite the
'96 throwback site”
Scaling Ethrereum, specifically computation!?
Well the man himself, Vitalik buterin took to the message boards, 2 days ago and posted
this on Ether Research.
“EVM optimistic rollup using Truebit”
Which he describes the process of a rollup utilizing the protocol!
Now why would a rollup need to use Truebit!?
Well to understand why.
You need to understand rollups, and Ethereum Plasma, are very similar in their designs,
and use “fraud proofs” for verifications.
Going to the truebit website, on it’s application use cases, they have one listed as Plasma
and say: “Plasma scales transaction throughput through
a hierarchy of blockchains in which parent “chains” have greater authority than their
children.
When a provable malfunction, or “fraud proof,” occurs in a child chain, a witness of that
error allows its parent to reconcile the error via Truebit verification.”
Truebit, allows fraud proofs to be reconciled by a witness in Plasma through verification
from it’s protocol!
Truebit, is what helps Plasma….WORK!
And it’s looking to be a critical piece of rollups too.
Especially the optimistic flavor!
Why?
Well last year, Karl Floersch and Jinglan Wang, those of Optimistic Ethereum, were on
the epicenter podcast, speaking of their rollup solution, and design.
Let’s hear what Karl had to say when asked about optimism
and truebit!
Oh I
see it now, thanks Karl!
Back then, in April there was a Plasma solution using Truebit, called Plasma Leap, which got
them excited about Plasma again.
Optimistic rollups, are similar to truebit, but not the same…..Optimistic Rollups are
so much better, they don’t need truebit...
Huh?
Then why was Vitalik talking about rollups using truebit just 2 days ago!?
Well you ready to dive down the rabbit hole to find a new coin!?
Remember Karl said there was a plasma implementation that ran with truebit verification.
Plasma Leap
The team that ran with this new type of Plasma was the LeapDAO, and they launched their own
plasma solution on the mainnet in February of 2019.
In March of this year, the LeapDAO twitter tweeted about another one of their products,
the EMO.
They said: “EMO - stands for Ethereum Machine Oracle.
The goal of the project is to make it easy to verify large computations off-chain, using
an abstract machine of your choice.
This is done by implementing a version of the #truebit verification game that uses a
generic abstract machine”
I wonder if LeapDAO has a rollup, that it doing a similar thing “implementing a version
of the truebit verification game”
Well a piece of LeapDAO, is called Habitat and this has a governance token.
HBT.
They recently put out a community update, called rollup choice.
In the blog, they compared their rollup, Nutberry with 2 other popular ones, Arbitrum and Optimisms.
Does Nutberry use the truebit verification game?
Yes it Did!?
The github on the nutberry project says “At the moment, NutBerry already supports verifying
transactions by a truebit-like verification game and is work in progress to switch to
the Gated Computing model as the next step before it generally supports arbitrary contracts
on L2”
Well going to Habitat’s webpage, we can see they have moved on the gated computing
model, now called domains...and there are 2 specific domains within Habitat, utilizing
their rollup solution, the LeapDAO and Strudel Finance!
So, is Habitat’s rollup the most advanced?
They obviously are using some concepts from Truebit’s verification game already!
Well, I’m no developer, so only time will tell…
Remember this video is about the future, dapps, protocols, and projects building with that
in mind.
And the last one I want to cover is….Bprotocol.
Why do I like this one?
Well going to their website, they are a protocol layer for lending platforms, which eliminates
the gas wars..providing them stability.
AKA MEV is being pushed back to the users of bprotocol.
Lending protocol users interact with existing lending platforms via the B.Protocol smart
contract.
Liquidity providers within B protocol provide a cushion to user debt, which gives B.Protocol
precedence over other liquidators.
The LPs (liquidity providers) then share their profits with the users, where a user's reward
is proportional to his user rating.
Going to the live application, we can see it already has over 215 million locked up,
and is live for both Maker & Compound, with AAVE coming soon.
Now are these just out of the blue integrations with Maker, Compound and AAVE?
Or are they the factors of something more?
Well 2 months ago the Founder of the protocol was interviewed, Yaron Velner, and he said
this:
“Before B.Protocol I was the CTO of Kyber Network since it was founded in 2017”
“B.Protocol got a seed investment from Kyber Network, and launched its first integration
on top of MakerDAO at the end of Oct 2020.
We currently have over $30m TVL (of users deposits in ETH) and over 11m Dai that was
borrowed through our platform.
Our Compound integration has just launched (Feb. 2021) so now also Compound users can
opt-into the B.Protocol, either by migrating their existing funds or opening a new account
to be managed via B.Protocol.
We have also presented to both the MakerDAO community as well as the Aave community with
a proposal for what we term “Native Integrations” to enable a new collateral that will let users
get higher leverage on their funds.”
This protocol is from a smart developer, former CTO of Kyber & these interactions, with Compound,
MakerDAO, and AAVE are deep integrations...that Yaron calls “Native integrations”.
So, BCLeaks Army, that is the true bit of this episode.
The Chico Crypto Habitat, is all about the DEEP integrations, especially if they are
MEV focused.
Cheers I’ll see you next time!!