Research blog from Dragonfly, a crypto investment firm, covering DeFi, Ethereum, rollups, stablecoins, and legal issues for crypto startups.
HN commenters cite it mainly to explain automated market makers and to argue Ethereum is unforkable because of DeFi, calling the DeFi technology interesting.
It's not comparable though. The simplified (though slightly wrong) way to think about Grin is that its privacy is like Monero but without Monero's ring signatures. Its transaction graph privacy is quite weak.
While the author of this article makes some mistakes, here's an example of that weakness: https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52
Grin developers said in response:
> The Grin team has consistently acknowledged that Grin’s privacy is far from perfect. While transaction linkability is a limitation that we’re looking to mitigate as part of our goal of ever-improving privacy, it does not ‘break’ Mimblewimble nor is it anywhere close to being so fundamental as to render it or Grin’s privacy features useless.
Hiding addresses and amounts is certainly better than Bitcoin, but the transaction graph privacy offered by Grin is significantly weaker than Monero. It's not the same.
Agreed - the DeFi tech is really interesting: https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399
There's a lot of snake oil speculative no knowledge spam from people that easily give off a bullshit vibe. So I get that a lot on HN that haven't closely looked at it would be turned off by that and just dismiss it entirely out of hand.
There's some real stuff going on here too and it's worth a deeper look - I think the knee-jerk dismissal is a mistake. At this point over ten years in, it's worth at least taking a deeper look at even if (I'd argue especially if) you're a skeptic.
I also suspect there's some pseudo-intellectual skepticism cynicism as signaling going on like there always is.
Specifically on BTC: https://www.matthuang.com/bitcoin_for_the_open_minded_skeptic
leaving the ponzis, illegal markets aside I think there is some interesting stuff happening in crypto right now.
Publicly traded companies[1] are starting to consider BTC as a reserve asset. MSTR converted 85% of cash reserves to Bitcoin(38,250 BTC).
AMMs[2], a novel idea in market making is growing popular.
[1] https://bitcointreasuries.org/
[2] https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399
You could (Matt Levine talks about his ExcelCoin he tracks in a spreadsheet), but with the rise of AMMs [1] (and SSOV’s) it’s easier to make the market in the DeFi space.
[1] https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399
That is why Uniswap and other AMM DEX's are on the rise https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399
Nope, wont happen. https://medium.com/dragonfly-research/ethereum-is-now-unforkable-thanks-to-defi-9818b967738f