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- 🔗 Not everything needs to be on-chain
As big things continue to be plotted and schemed from the Myo Meeting of the Minds™ last week in New York, our written editorial returns from summer break with the latest piece from Content Guild intern Taylor Silveira.
A recent graduate of UCLA, Taylor could be said to bring a student’s approach to her work — one of many reasons why I enjoy her writing so much.
Read on for Chevy’s intro to our latest long read, (you may not want to hear this, but) ‘Not Everything Needs to Be On-Chain,’ and for the newest episode of the W3G pod.
Wherever you are in the world, we hope you’re enjoying the heart of summer!
We just read a piece from Myosin’s own Taylor Silveira that gives five clear reasons as to why not everything needs to be on-chain (and man does she make some good points!).
Below, we’ve written a short summary of the first three.
(Oh, you want all five? You’ll just have to click that big yellow ‘LEARN MORE’ button and read Taylor’s full piece).
Scaling the Unscalable - Blockchain’s Throughput Limitations
As amazing as blockchain technology is - it’s not without its limitations.
For example: the ‘World Computer’ that we know as Ethereum, is about as powerful as a Raspberry Pi (a credit card sized, single board computer that will cost you ~$75).
Which means, if we want to scale blockchain technology to meet the demands of an ever growing global user base - some things will have to be done off-chain.
Cost Efficiency - Minimizing Expenses with Off-Chain Storage
ICYMI: Blockchain transactions cost money.
Which no one bats an eyelid at in the world of, say, decentralized finance…but as blockchain tech permeates the broader internet, this ‘pay-to-play’ model is going to become an issue.
E.g. If everyone has to pay a fee every time they leave a comment on Web3 social posts - no one is going to engage.
The solution: off-chain storage. (Sure, it may not be permanently stored on the blockchain for all eternity - but how important is your sh*t posting, really?)
Privacy Protection - Safeguarding Confidential Data Off-Chain
Right now, almost all blockchain based data/value exchanges are publicly viewable.
Do you want all of your online activities to be publicly listed and searchable? Neither!
Which means privacy and confidentiality needs to come as a standard feature if this whole Web3 thing is going to take off!
Ok, that’s it. That’s all you’re getting. You know the deal. Click that big yellow button! 👇
W3G EP19 is live w/@meowllark, ex-Head of Product Marketing @layer3xyz! Since recording, Sarah has since left Layer3, but this was too good to not share!
We chatted about how @layer3xyz is the @duolingo for web3, product-driven strategy, web3 UX/distribution yet, & more! 🎙️ http
— Myosin.xyz (〽️, 🌎) (@myosin_xyz)
6:00 PM • Jul 20, 2023
The Myosin team is going international!
Specifically: we’re going to be in Singapore between September 13 and 14, for the Token2049 conference.
And we want you to join us! So much so, that we’ve organized a custom 10% off code for you.
Click the ‘Get Tickets’ button below and enter MYOSIN to save up to $130 on tickets.
Pssst... Are you a Myosin member?
Every week is crazy, but we’re always glad to make it through the other side with more awesome deals, events, promising new members, and future initiatives.
If you are a Myosin member, please also read our Members Only newsletter in Charmverse, which requires 100 $MYO to access.
Click below to catch up on what we did this week, and what's coming up!
Quick Bites
That's it. That's all we got! Talk next week.
The W3G Weekly team 👋
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