Sure. So, something similar in terms of centralised and trusted, but 2-way.
It would face additional custody risk vs the Alt.co arrangement, because locked assets would be held by the centralised entity rather than burned, but of course it’s quick & easy to do.
Once a decentralised lock/burn & mint mechanism were thoroughly tested / audited etc, the centralised bridge service could be shut down.
While I don’t like the idea of a cemtralised bridge long term, I like the idea of Natve Tokens ASAP, and this is likely the quickest route to it.
I want Native ASAP because it will slash the cost of using Autonomi by removing the ERC20 fees, and simplify the Autonomi product by making ERC20 optional. Both of these will be good for adoption and scaling.
Vitalik Buterin announces that “The original vision for L2s and their role in Ethereum no longer makes sense”. He says “there’s a need for a new path forward for the network”following ETH gas fees dropping to their lowest point ever.
Vitalik is apparently looking for our native token for his applications.
The native token protects privacy by its very nature, but we need it primarily for mass adoption by the market. While many other DePIN projects are developing dynamically, Autonomi lacks the most important link. ETH found itself in a similar situation, as can be seen from Vitalik’s statements, except that we haven’t even started yet, and they are already “running out”
autonomi does not need a native token, all the speed, privacy and reliability already exists in cryptoland. You can bridge however you want. This old idea of a coin on autonomi does not make sense. Is autonomi also creating another linux?
They cannot for now, and it will be worse through native (unless native miraculously provides better UX compared to blockchain from the start, but it won’t)
Maybe it does not need native token. But as an immutable global storage, it offers a superior platform compared to current “multiplied blockchain" implementations. You write a transaction. It is there. Forever. You only need one ‘copy’ of the blockchain and you can trust it. It is immutable and living forever. (‘one’ because actually there is multiple but limited amount of copies of each block)
Also using that native token would make some things easier. ( however also some things harder.. )
No, in fact it’s the opposite. UX is hard. It will be a UX nightmare the first few years to try and create something new on our own ecosystem. Think about what’s necessary to store a coin and transact.
Also, blockchain funds are mathematically safe, they just exist as long as some nodes are running and there is no majority to prevent double spend. So far, tokens on autonomi can evaporate randomly, blockchain is definitely more mathematically sound.
Well, in my opinion, any system either is mathematically sound or it is not. Blockchain is, but with immutable global storage it could also be done in a different, easier way.
But basicly the implementation with immutable global storage is very straightforward:
1 Store a genesis transaction with some amount, let’s say 1000 coins. The only needed agreement for the coin is this transaction.
2 when you use the coin you need to do 2 things: first: create a transaction with 1 (or more) input and 2 output(one for change and one for payment. Then mark the original transaction as used (version 0 to version 1) and link to the payment
Since we know the data is immutable, we actually need no 3rd party to confirm the payment.
Recipient just follows the transactions backwards and if the chain ends to the genesis, the payment is valid.
There is one gotcha; you need to be able to write the transaction exactly twice; first when payed and secondly when it is used.
Don’t get me wrong, but I think you should limit your use of AI models
That’s exactly the point: blockchain is like German diesel cars – expensive, clunky, resource-intensive and overrated. And precisely because Autonomi is a probabilistic network with high flexibility, resilience and low costs, it can be considered the new Internet. But for this, a native token is essential.
Point being, you have a working implementation? Wasn’t betamax superior in every way?
There’s always something better. Lindy effect, native will not stop people from using a blockchain (see our own token implementation, the irony)
Buterin urged L2 developers to pitch a value proposition beyond simply “scaling Ethereum.”
I like the idea of Autonomi having its own L2 that brings what the network offers (data storage, decentralised web etc) to Ethereum, and strengthens Autonomi’s offering by smoothing a road to a fully native non-blockchain token (node integration with custom L2 could open up more robust routes to a 2-way bridge between blockchain and native ANT).
I know it’s very unlikely to happen & would basically require another team working on the L2 alone + significant funding, but it seems like it might unlock opportunities for the network & bring Autonomi to a wider audience who could utilise what it offers.
Public files on Autonomi could have an Autonomi blockchain entry that not only enables payments to nodes for upload purely in ANT, but also includes a 4-word networking address for it, link to a torrent of the file (for further backup & reach to Bittorrent network), and act as a receipt nodes will accept in case of network reset so the file won’t need to be paid for again. Nodes could auto-re-upload missing chunks for network self-repair, if necessary.
An Autonomi-linked L2 could become a valuable L2 while the blockchain adds trust to Autonomi as a ‘backup’ in case the network ever stumbles again.
