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The Stablecoin Era and Why a Purpose-Built Layer-1 Is Inevitable

Stablecoins have quietly become the most successful product in crypto history. While narratives cycle through NFTs, DeFi summers, gaming, AI tokens, and meme coins, stablecoins have continued to grow with relentless consistency. They are no longer a niche instrument for traders; they are infrastructure. Billions of dollars move daily through USDT, USDC, and other dollar-pegged assets, serving real users across borders, time zones, and regulatory environments. In many emerging markets, stablecoins function as savings accounts, remittance rails, payroll tools, and business settlement layers. In institutional contexts, they are increasingly viewed as programmable cash that can settle instantly without the friction of legacy banking rails.

Yet despite their scale and importance, stablecoins today live on blockchains that were not designed for them. Ethereum, while the birthplace of modern stablecoins, was not optimized for high-frequency, low-cost payment settlement. Layer-2 solutions improve throughput but introduce fragmentation, bridge risk, and operational complexity. Alternative Layer-1s offer speed and low fees, but often sacrifice decentralization, neutrality, or long-term security assumptions. None of these environments were designed from the ground up with stablecoins as the primary unit of account.

This mismatch between stablecoin usage and blockchain design is becoming increasingly apparent. Payments require predictable fees, instant or near-instant finality, censorship resistance, compliance flexibility, and an execution environment that prioritizes simple transfers over speculative complexity. They require a chain that treats stablecoins not as just another ERC-20 token, but as the core economic primitive of the system.

Plasma emerges from this realization. It is a Layer-1 blockchain explicitly tailored for stablecoin settlement, built with the assumption that stablecoins are not an add-on, but the main event. Plasma combines full Ethereum Virtual Machine compatibility using Reth, a high-performance Rust-based Ethereum client, with sub-second finality through a custom consensus mechanism known as PlasmaBFT. It introduces stablecoin-centric features such as gasless USDT transfers and stablecoin-first gas models, removing friction that has historically limited mainstream adoption. On the security side, Plasma anchors itself to Bitcoin, leveraging the most neutral and censorship-resistant base layer ever created to enhance its own credibility and long-term resilience.

The vision behind Plasma is not to compete with every Layer-1 on every axis, but to dominate a specific, massive use case: global stablecoin settlement for both retail and institutions. By focusing narrowly and deeply on this goal, Plasma positions itself as infrastructure for the next phase of digital finance, where blockchains are not speculative playgrounds, but invisible rails powering everyday economic activity.

Plasma’s Architecture: EVM Compatibility, Sub-Second Finality, and Bitcoin-Anchored Security

At the core of Plasma’s design is a deliberate balance between familiarity and innovation. The project does not attempt to reinvent execution environments or developer tooling from scratch. Instead, it embraces the Ethereum ecosystem while re-engineering the layers beneath it to meet the performance and reliability requirements of large-scale payments.

Plasma is fully EVM compatible, using Reth as its execution client. Reth is a modern, high-performance Ethereum client written in Rust, designed with modularity, safety, and speed in mind. By adopting Reth, Plasma ensures that existing Ethereum smart contracts can be deployed with minimal or no modification. Developers can use familiar tools such as Solidity, Foundry, Hardhat, and existing libraries, dramatically reducing the barrier to entry. Wallets, explorers, indexers, and infrastructure providers can integrate Plasma without rebuilding their stacks from scratch.

However, EVM compatibility alone is not enough. Payments require fast finality. Users sending stablecoins for commerce, payroll, or remittances cannot wait minutes for confirmations, nor can they tolerate probabilistic settlement that may be reorganized. Plasma addresses this through PlasmaBFT, a Byzantine Fault Tolerant consensus mechanism designed for sub-second finality. Unlike Nakamoto-style consensus, which relies on probabilistic block confirmations, PlasmaBFT provides deterministic finality. Once a transaction is finalized, it is final. This property is critical for payment processors, merchants, and financial institutions that require clear settlement guarantees.

PlasmaBFT is optimized for throughput and latency, allowing the network to process large volumes of simple transfer transactions efficiently. Stablecoin transfers, which dominate payment use cases, are lightweight operations compared to complex DeFi interactions. Plasma’s consensus and execution layers are tuned to exploit this reality, prioritizing the most common transaction types rather than optimizing for edge-case complexity.

Security, however, is not sacrificed for speed. Plasma introduces Bitcoin-anchored security as a foundational design choice. Bitcoin remains the most secure and neutral blockchain in existence, with unmatched hash power, decentralization, and political resilience. By anchoring critical state or checkpoints to Bitcoin, Plasma inherits some of Bitcoin’s security guarantees. This anchoring mechanism increases censorship resistance and makes it significantly harder for Plasma’s history to be rewritten without detection.

The Bitcoin anchor also serves a social and economic function. In a world where many Layer-1s are perceived as venture-controlled or politically influenced, tying security assumptions to Bitcoin enhances Plasma’s credibility as neutral infrastructure. It signals a long-term commitment to decentralization and resistance to capture, qualities that matter deeply to both retail users in fragile economies and institutions managing billions in value.

Taken together, Plasma’s architecture reflects a clear philosophy: use battle-tested execution environments, innovate where necessary to achieve performance and finality, and ground the entire system in the strongest security foundation available.

Stablecoin-First Design: Gasless Transfers, Predictable Fees, and Payment-Native UX

The most distinctive aspect of Plasma is not its EVM compatibility or its consensus mechanism, but its explicit prioritization of stablecoins as first-class citizens. On most blockchains, stablecoins are treated like any other token. Users must hold the native asset to pay gas, fees fluctuate based on network congestion, and simple transfers can become unexpectedly expensive. These frictions may be tolerable for traders or DeFi users, but they are unacceptable for everyday payments.

Plasma addresses these issues through a set of stablecoin-centric features that fundamentally change the user experience. One of the most important is gasless USDT transfers. In this model, users can send USDT without needing to hold a separate native token to pay transaction fees. Fees can be abstracted away, subsidized, or paid directly in the stablecoin itself. This design mirrors traditional payment systems, where users do not need to manage a separate asset just to move money.

Stablecoin-first gas mechanisms further enhance predictability. Instead of denominating fees in a volatile native token, Plasma allows fees to be paid in stablecoins, aligning costs with the unit of account that users actually care about. For merchants, payroll systems, and payment processors, this predictability is crucial. It eliminates hidden costs and simplifies accounting, budgeting, and reconciliation.

Beyond fees, Plasma’s UX philosophy is built around simplicity and reliability. Stablecoin transfers should feel as effortless as sending a message. Sub-second finality ensures that recipients can treat incoming payments as settled almost instantly. This enables real-time commerce, point-of-sale transactions, and interactive financial applications that would be impractical on slower chains.

Plasma’s stablecoin-first design also extends to developer primitives. Smart contracts can assume stablecoins as the default medium of exchange, reducing complexity in application logic. Payment flows, escrow mechanisms, subscription systems, and on-chain accounting become easier to reason about when volatility is removed from the base layer.

Importantly, this focus does not exclude other assets or use cases. Plasma remains a general-purpose EVM chain capable of supporting DeFi, NFTs, and other applications. However, these are secondary to the core mission. The chain’s economic incentives, protocol optimizations, and roadmap are aligned around stablecoin settlement, ensuring that this primary use case is never compromised by competing priorities.

In effect, Plasma aims to become the blockchain equivalent of a global payment network: invisible, reliable, and optimized for moving money rather than speculating on it.

Target Users and Long-Term Vision: From High-Adoption Markets to Institutional Finance

Plasma’s design choices reflect a deep understanding of its target users. On one end of the spectrum are retail users in high-adoption markets, particularly in regions where local currencies are unstable, banking access is limited, or capital controls are restrictive. In these environments, stablecoins are not speculative instruments; they are lifelines. People use them to preserve purchasing power, receive remittances, pay for goods and services, and participate in the global economy.

For these users, usability and cost are paramount. Gasless transfers, instant finality, and predictable fees can make the difference between adoption and abandonment. Plasma’s architecture directly addresses these needs, lowering barriers to entry and making stablecoin usage accessible to non-technical users.

On the other end of the spectrum are institutions: payment processors, fintech companies, banks, and financial infrastructure providers. These actors require scalability, compliance flexibility, and clear security guarantees. They need deterministic settlement, robust tooling, and assurance that the underlying network will remain neutral and reliable over decades, not just market cycles.

Plasma’s EVM compatibility allows institutions to leverage existing development resources and audit frameworks. Sub-second finality enables real-time settlement and reduces counterparty risk. Bitcoin-anchored security enhances trust and mitigates concerns about governance capture or political interference.

The long-term vision for Plasma is to serve as a universal settlement layer for stablecoins, bridging the gap between crypto-native innovation and traditional finance. In this vision, Plasma does not compete directly with consumer-facing apps or fintech platforms. Instead, it powers them from beneath, providing the rails on which global value moves.

As stablecoins continue to gain regulatory clarity and institutional acceptance, the demand for specialized infrastructure will only grow. General-purpose blockchains can support stablecoins, but they are unlikely to optimize for them at every level. Plasma’s bet is that focus will win. By building a Layer-1 where stablecoins are the default, not the exception, Plasma positions itself at the center of a financial transformation that is already underway.

In the coming years, the success of blockchain technology will be measured less by speculative metrics and more by real-world usage: volume settled, users served, and economic activity enabled. Plasma is designed with this future in mind. It is not a chain chasing narratives, but infrastructure preparing for inevitability.

#plasma @Plasma #RMJ $XPL

Quan điểm Mở: Tại sao Giai đoạn Tiếp theo của Internet lại Liên quan đến Quyền sở hữu Dữ liệu

Sự phát triển của internet đã theo một mô hình có thể dự đoán. Đầu tiên là kết nối, sau đó là các nền tảng, rồi đến việc kiếm tiền. Mỗi giai đoạn tăng cường sự tiện lợi trong khi âm thầm tập trung quyền kiểm soát. Ngày nay, dữ liệu ngồi ở trung tâm của sự tập trung này. Ai kiểm soát dữ liệu sẽ kiểm soát các câu chuyện, thị trường và hành vi.

Công nghệ Blockchain đã thách thức cấu trúc này bằng cách phân quyền tiền tệ và phối hợp, nhưng nó đã để lại một thành phần quan trọng chủ yếu không bị chạm đến. Dữ liệu, tài nguyên kỹ thuật số quý giá nhất, vẫn chủ yếu được tập trung. Ngay cả những ứng dụng phi tập trung tiên tiến nhất cũng thường phụ thuộc vào các nhà cung cấp lưu trữ tập trung để thực hiện chức năng cốt lõi của chúng.

Thành lập vào Năm Mười Tám Mười Tám, Mạng lưới Dusk chưa bao giờ được định vị như một dự án phản ứng lại. Nó không xuất hiện với mục đích phá vỡ hệ thống. Nó xuất hiện với ý định thấu hiểu hệ thống. Và sự khác biệt này quan trọng hơn nhiều so với điều mà phần lớn mọi người nhận ra.

Khi tôi lần đầu theo dõi Dusk, cảm giác là sự bình tĩnh, gần như quá bình tĩnh đối với một không gian nghiện sự cấp bách. Không có những tuyên bố kịch tính, không có những chiến dịch tiếp thị liên tục. Chỉ có những thông tin liên tục và tiến triển rõ rệt. Sự bình tĩnh đó đã báo hiệu sự tự tin.

Crypto thường nói về việc thay đổi tài chính mà không thực sự hiểu cách tài chính vận hành. Bảo mật riêng tư, kiểm toán tuân thủ, quản trị — những yếu tố này không phải là tính năng tùy chọn trong thị trường thực tế. Chúng là những yêu cầu bắt buộc. Dusk được xây dựng dựa trên những thực tế này ngay từ ngày đầu.

Thành lập vào năm Hai nghìn mười tám, Dusk Network được tạo ra với một mức độ thực tế mà hầu hết các dự án tiền mã hóa khác đã tránh né vào thời điểm đó. Trong khi ngành công nghiệp rộng lớn đang tập trung vào sự phá cách, tốc độ và minh bạch cấp độ cao, Dusk lặng lẽ tập trung vào cấu trúc, quyền riêng tư và tuân thủ pháp luật. Nó không cố gắng làm cho hệ thống bị sốc. Nó đang cố gắng tái xây dựng hệ thống một cách đúng đắn.

Khi tôi lần đầu tiên gặp Dusk Network, nó không có vẻ như là một thứ được thiết kế dành cho các nhà giao dịch hay đầu cơ ngắn hạn. Nó giống như một thứ được thiết kế dành cho những người xây dựng, các tổ chức và những người suy nghĩ dài hạn. Sự khác biệt này rất quan trọng vì cuối cùng, tiền mã hóa sẽ phát triển thành thứ mà nó được xây dựng cho.

Phần mở đầu: Lớp lặng lẽ kiểm soát mọi thứ

Mọi hệ thống kỹ thuật số đều dựa trên các lớp mà phần lớn người dùng không bao giờ thấy. Giao diện thay đổi. Ứng dụng ra đời và biến mất. Các câu chuyện xoay quanh các chu kỳ thị trường. Nhưng nằm dưới tất cả những điều này là một lớp lặng lẽ hơn, quyết định cuối cùng ai nắm quyền lực: lớp dữ liệu.

Trong nhiều thập kỷ, internet đã phát triển xung quanh mô hình sở hữu dữ liệu tập trung. Các nền tảng lưu trữ dữ liệu, xử lý nó, khai thác nó để kiếm lợi nhuận và kiểm soát quyền truy cập vào nó. Người dùng tạo ra giá trị nhưng lại từ bỏ quyền kiểm soát. Mô hình này mở rộng hiệu quả, nhưng lại tạo ra sự bất ổn cấu trúc sâu sắc. Khi dữ liệu tập trung, việc kiểm duyệt trở nên khả thi. Khi kiểm duyệt trở nên khả thi, quyền kiểm soát tất yếu tập trung.

Founded in Two Thousand Eighteen Dusk Network came into existence during a time when crypto was still defining itself as an alternative to traditional finance Most projects were built with rebellion in mind Open ledgers radical transparency and complete separation from regulation Dusk chose a different path from the very beginning

When I first started paying attention to Dusk it felt almost out of place in the wider crypto conversation There was no loud narrative no exaggerated promises no obsession with short term attention What I noticed instead was clarity A clear understanding of where crypto was going not where it wanted to pretend it was

Over the years my perspective on blockchain has changed dramatically In the early days speed and decentralization felt like the only things that mattered With time I realized that privacy compliance and trust are the real bottlenecks for adoption Dusk was already thinking along these lines long before it became popular

Dusk is a layer one blockchain built specifically for regulated and privacy focused financial infrastructure This single sentence explains more than most whitepapers ever could It tells you who the network is for and who it is not for It is not designed for chaos It is designed for continuity

Most blockchains expose everything by default Transactions balances smart contract logic all visible to everyone This radical transparency sounds powerful until real financial actors enter the picture Institutions cannot operate in an environment where every move is public Dusk understands this reality deeply

Privacy on Dusk is not ideological It is functional It allows sensitive data to remain private while still enabling verification and auditability This is how financial systems have always worked Dusk simply brings this model on chain

One of the most misunderstood aspects of privacy focused blockchains is the assumption that privacy means lack of accountability Dusk proves the opposite Selective disclosure ensures that the right information is visible to the right parties at the right time

Regulation plays a central role in this design philosophy Instead of trying to bypass regulation Dusk integrates it Regulation becomes part of the infrastructure rather than an external force This makes the network resilient in a world where laws are constantly evolving

I often see projects scrambling to adapt when new regulatory frameworks appear Dusk does not scramble It was built with this inevitability in mind From governance to architecture the system expects change and is prepared for it

The modular architecture of Dusk is one of its most underrated strengths Modular systems allow evolution without disruption Financial infrastructure cannot afford instability Dusk balances flexibility with reliability

Compliant decentralized finance is one of the areas where Dusk truly shines DeFi does not disappear under regulation It becomes stronger and more inclusive Regulation opens the door to institutions that control massive amounts of capital Dusk provides a safe environment for that capital to enter

Tokenized real world assets are another key pillar Assets like bonds equities funds and structured products require privacy legal clarity and auditability Dusk supports these requirements natively

Many blockchains talk about tokenization but few can support it in a way that satisfies regulators institutions and users at the same time Dusk was built for this exact intersection

From a community standpoint Dusk feels different The conversations are thoughtful The focus is long term There is less noise and more substance This kind of culture reflects the maturity of the protocol itself

As someone who has been through multiple market cycles I have learned to trust projects that continue building regardless of sentiment Dusk has done exactly that Whether the market is euphoric or quiet development continues

I do not follow Dusk because it trends I follow it because it aligns with reality When speculation fades infrastructure remains

The belief that decentralization and regulation cannot coexist comes from an outdated phase of crypto evolution Dusk represents the next phase where blockchain integrates with existing systems instead of isolating itself from them

This does not mean compromise It means refinement Decentralization does not disappear It becomes more purposeful

Personally Dusk has influenced how I think about the future of crypto I no longer ask which chain is the fastest I ask which chain institutions can actually rely on Dusk consistently answers that question

The financial world does not change overnight Adoption happens slowly through trust standards and reliability Dusk understands this timeline and builds accordingly

In a space obsessed with speed Dusk prioritizes correctness In a space obsessed with visibility Dusk prioritizes discretion

This approach may not attract everyone immediately but it attracts the right participants Builders institutions and long term thinkers

Dusk Network is not trying to win attention It is trying to earn trust

And in the end trust is the most valuable asset any financial system can have

#Dusk @Dusk #RMJ $DUSK

Prologue: The Silent Layer That Controls Everything

Every digital system rests on layers that most users never see. Interfaces change. Applications rise and fall. Narratives rotate with market cycles. But beneath all of this lies a quieter layer that ultimately determines who holds power: the data layer.

For decades, the internet has evolved around centralized data ownership. Platforms stored data, interpreted it, monetized it, and controlled access to it. Users produced value but surrendered control. This model scaled efficiently, but it created deep structural fragility. When data is centralized, censorship becomes possible. When censorship becomes possible, control inevitably concentrates.

Blockchain technology challenged this model, but only partially. Value transfer was decentralized. Logic was decentralized. Coordination was decentralized. Data, however, largely remained where it always was: on centralized servers, cloud providers, and proprietary databases.

Walrus Protocol exists because this contradiction cannot persist indefinitely. A decentralized system that depends on centralized data storage is not decentralized. It is permissioned decentralization with a hidden override.

Walrus is not an experiment in convenience. It is an attempt to finish what blockchains started: the construction of a fully sovereign digital stack where data ownership is enforced by cryptography, not granted by policy.

The Structural Weakness of Modern Web3

To understand why Walrus matters, it is necessary to examine how Web3 actually functions in practice. Most decentralized applications store only minimal information on-chain. Everything else—images, metadata, user profiles, governance archives, analytics, logs—lives off-chain.

This off-chain data is often hosted on traditional cloud infrastructure. Even when decentralized storage solutions are used, they are frequently bolted on as optional components rather than foundational primitives.

This leads to several systemic issues.

First, censorship risk persists. If a storage provider removes access, an application can become unusable despite its smart contracts remaining intact.

Second, privacy is compromised. Centralized storage providers can analyze, leak, or be compelled to surrender data.

Third, permanence is illusory. Data availability depends on business incentives rather than cryptographic guarantees.

Walrus confronts these issues by rethinking storage from the ground up. It does not treat data as a secondary concern. It treats data as infrastructure.

Walrus Protocol: Storage as a First-Class Citizen

Walrus is a decentralized data storage protocol designed to support large-scale, private, and verifiable storage without centralized control. It is built on the Sui blockchain, leveraging Sui’s object-oriented architecture to represent data ownership and permissions on-chain.

The core abstraction in Walrus is the blob. A blob is a large binary object that can represent any form of data: documents, application state, encrypted records, datasets, or media. Blobs are not stored as single units. They are fragmented, encoded, and distributed across a decentralized network.

This design choice is fundamental. Instead of trusting any individual node, Walrus distributes trust across the network. No single participant has the power to censor, alter, or destroy data.

Erasure coding plays a central role in this architecture. By encoding data into fragments that can be reconstructed even if some pieces are missing, Walrus achieves high availability without inefficient replication. Storage becomes fault-tolerant by design.

Metadata about blobs—such as ownership, permissions, and references—is stored on-chain. The actual data fragments live off-chain but are cryptographically linked to their metadata. This hybrid model allows Walrus to scale efficiently while preserving strong security guarantees.

Why Sui Is the Right Foundation

Walrus is built on Sui for a reason. Traditional blockchains use account-based models that are poorly suited for complex data interactions. Sui, by contrast, treats objects as first-class entities.

In Walrus, data is represented as objects with explicit ownership and lifecycle rules. This allows data to be transferred, governed, and composed just like digital assets.

The object-centric model enables fine-grained access control. Different users can have different permissions over the same data without duplicating it. This is essential for collaborative applications, enterprise workflows, and identity systems.

By anchoring data ownership on Sui while storing data fragments off-chain, Walrus achieves a balance that neither blockchains nor centralized systems can offer alone.

Privacy as a Structural Guarantee

Privacy in decentralized systems cannot be an afterthought. Walrus embeds privacy directly into its architecture.

Data stored on Walrus can be encrypted end-to-end. Storage providers never see raw data. They store encrypted fragments and prove availability. Access is controlled through cryptographic keys rather than centralized authentication servers.

This enables selective disclosure. Applications can verify properties of data—such as existence, integrity, or compliance—without revealing the data itself.

This model is particularly powerful for sensitive use cases such as identity, healthcare, finance, and governance. It allows systems to remain transparent where necessary and private where required.

In Walrus, privacy is not a feature toggle. It is a default assumption.

WAL Token: The Economic Backbone of Decentralized Storage

Decentralization without incentives collapses into centralization. Walrus addresses this through the WAL token, which coordinates behavior across the network.

WAL serves as the unit of payment for storage. Users pay WAL to store data, with fees reflecting actual resource usage. This creates a transparent and sustainable pricing model.

Storage providers must stake WAL to participate. This stake acts as collateral, ensuring honest behavior. Providers who fail to maintain availability or violate protocol rules risk losing their stake through slashing.

Contributors earn WAL as rewards for providing storage and maintaining network health. These rewards are funded primarily through usage rather than excessive inflation.

WAL also enables governance. Token holders can propose and vote on protocol changes, ensuring that the network evolves without centralized control.

This multi-role design ensures that WAL is deeply embedded in the protocol’s operation. It is not a speculative overlay. It is a functional necessity.

Incentive Design and Network Resilience

Walrus aligns incentives through feedback loops. When users store more data, fees increase. When fees increase, rewards grow. When rewards grow, more providers join. When providers perform well, users trust the network.

Staking ensures that misbehavior is costly. Slashing ensures accountability. Governance ensures adaptability.

This system replaces trust with economics. Participants act honestly not because they are trusted, but because honesty is profitable and dishonesty is expensive.

Decentralized Finance and the Data Problem

DeFi protocols depend heavily on data. Yet much of this data remains centralized or weakly verifiable. Walrus provides a solution.

Protocols can store sensitive records off-chain while maintaining on-chain verification. This reduces costs and improves scalability without sacrificing trustlessness.

New financial primitives become possible when data is both private and verifiable. Insurance records, audit logs, compliance documentation, and risk models can exist without centralized custody.

Because WAL is native to Sui, it integrates seamlessly with DeFi protocols. This allows storage infrastructure to interact with capital markets in novel ways

Identity: From Platform Control to Self-Sovereignty

Identity is one of the most transformative applications of decentralized storage. In Web2, identity is fragmented and platform-controlled. Users do not own their digital selves.

Walrus enables self-sovereign identity by allowing users to store credentials securely under their control. Access can be granted selectively. Proofs can be shared without revealing underlying data.

This model reduces data leakage, improves privacy, and restores agency to individuals.

DAOs, Governance, and Institutional Continuity

DAOs are decentralized organizations, but many rely on centralized platforms to store their history. This creates vulnerabilities.

Walrus allows DAOs to store proposals, discussions, and records in a decentralized, censorship-resistant manner. Institutional memory becomes immutable. Governance becomes auditable.

This strengthens legitimacy and reduces reliance on third-party platforms.

Enterprise Adoption Without Centralization

Enterprises require privacy, compliance, and auditability. Walrus offers these without sacrificing decentralization.

Encrypted storage, cryptographic proofs, and on-chain verification allow enterprises to meet regulatory requirements while retaining control over their data.

This opens the door for adoption in regulated industries such as healthcare, finance, research, and logistics.

Cultural Implications: Redefining Ownership

Walrus represents a shift in how digital ownership is understood. Data is no longer something users surrender. It becomes something they own.

Platforms no longer extract value by default. They must earn access. Power shifts from intermediaries to individuals.

This rebalancing has implications far beyond technology. It affects economics, governance, and culture.

Long Horizon Thinking: Infrastructure Over Hype

Walrus is not designed to dominate headlines. It is designed to become indispensable.

Infrastructure succeeds when it becomes invisible. When developers assume its existence. When users rely on its guarantees without thinking about them.

The WAL token, within this vision, is not a short-term instrument. It is a coordination mechanism for a decentralized data economy.

As Web3 matures, the question will no longer be whether data should be decentralized. It will be how systems ever functioned without it.

Walrus is building toward that future—quietly, structurally, and with the patience required to build something that lasts.
#Walrus @Walrus 🦭/acc #RMJ $WAL

Thành lập vào năm Hai nghìn mười tám, Mạng lưới Dusk bước vào lĩnh vực blockchain với một tư duy dường như khá khó chịu vào thời điểm đó. Trong khi hầu hết các dự án đang chạy theo tốc độ, sự hào nhoáng và minh bạch mở thì Dusk lại nói về quy định, quyền riêng tư và các tổ chức. Nó không cố gắng gây ấn tượng với các nhà giao dịch, mà đang cố gắng giải quyết những vấn đề chỉ xuất hiện khi tiền mã hóa trưởng thành

Khi lần đầu tiên tôi khám phá Dusk, nó không mang lại cảm giác hào hứng theo cách truyền thống. Không có những lời hứa hẹn ồn ào hay khẩu hiệu bắt mắt. Thay vào đó, tôi cảm nhận được sự có chủ đích. Và sự có chủ đích quan trọng hơn sự hào hứng khi bạn đã dành đủ thời gian trong thị trường này

Giới thiệu: Vì sao Dữ liệu, chứ không phải Tiền bạc, là ranh giới cuối cùng của sự phi tập trung

Sóng đầu tiên của đổi mới blockchain chủ yếu tập trung vào tiền bạc. Bitcoin đã chứng minh rằng giá trị có thể di chuyển mà không cần trung gian. Ethereum đã mở rộng tầm nhìn đó bằng cách cho phép logic, các thỏa thuận và tài chính có thể lập trình được tồn tại mà không cần kiểm soát tập trung. Theo thời gian, tầng tài chính của Web3 đã phát triển nhanh chóng, tạo ra các sàn giao dịch phi tập trung, thị trường cho vay, sản phẩm phái sinh và các tổ chức tự trị phi tập trung (DAO).

Tuy nhiên, đằng sau những tiến bộ này là một sự thật khó chịu: hầu hết các hệ thống phi tập trung vẫn phụ thuộc vào cơ sở hạ tầng dữ liệu tập trung. Các hợp đồng thông minh có thể bất biến, nhưng dữ liệu mà chúng tham chiếu thường được lưu trữ trên các máy chủ do một vài công ty kiểm soát. Hình ảnh, tài liệu, hồ sơ người dùng, kho lưu trữ quản trị và trạng thái ứng dụng thường được lưu trữ trên các dịch vụ đám mây truyền thống.

Thành lập vào năm Mười tám Mười tám, Mạng lưới Dusk ra đời trong một thời điểm mà tiền mã hóa vẫn đang định hình bản thân như một lựa chọn thay thế cho tài chính truyền thống. Hầu hết các dự án được xây dựng với tinh thần nổi loạn, sổ cái mở, minh bạch cực độ và sự tách biệt hoàn toàn khỏi quy định. Dusk đã chọn một con đường khác ngay từ đầu

Khi tôi lần đầu chú ý đến Dusk, cảm giác như nó gần như không hợp với cuộc trò chuyện rộng lớn hơn về tiền mã hóa. Không có câu chuyện ồn ào, không có lời hứa hẹn quá đà, không có sự ám ảnh với sự chú ý ngắn hạn. Thay vào đó, tôi nhận thấy sự rõ ràng – một sự hiểu biết rõ ràng về nơi mà tiền mã hóa đang đi, chứ không phải nơi mà nó muốn giả vờ đang đi

Phần mở đầu: Tại sao việc kiểm soát dữ liệu định nghĩa quyền lực trong thời đại kỹ thuật số

Mỗi thời đại đều được định nghĩa bởi điều nó học được kiểm soát. Trong các xã hội nông nghiệp, việc kiểm soát đất đai đã định hình quyền lực. Trong các nền kinh tế công nghiệp, việc kiểm soát máy móc và vốn quyết định sự thống trị. Trong thời đại kỹ thuật số, việc kiểm soát dữ liệu đã trở thành lực lượng quyết định nhất. Dữ liệu định hình thị trường, ảnh hưởng đến hành vi, huấn luyện trí tuệ và xác định ai sẽ được hưởng lợi từ tiến bộ công nghệ.

Web2 đã tập trung hóa quyền lực này. Một số ít công ty trở thành những người giữ giữ dòng chảy dữ liệu toàn cầu. Họ lưu trữ thông tin, lập chỉ mục, khai thác lợi nhuận từ nó và quyết định ai được truy cập vào dữ liệu. Người dùng trở thành những người tạo ra giá trị nhưng không phải là chủ sở hữu của nó.