POW

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Thinking
Part of the power and promise of Web 3.0 is the concept of decentralization, the ability to transact without the need for a central authority or an intermediary such as a bank or centralized exchange. While the idea of decentralization is quite easy to understand, the devil is in the details. Continue Reading →

Crypto vs. Credit Cards

Visa vs. BTC
VisaNet can process more than 65,000 tps (transactions per second). By comparison, Bitcoin (BTC) can only process ~5 tps. Therefore, Bitcoin (and other cryptocurrencies by proxy) are inherently too slow for practical use. Before you buy into this apples-to-oranges comparison, let's define the word "process." With a little more clarity, you will be better able to frame your thoughts about centralized (VisaNet) versus decentralized (Proof of Work) crypto transactions. Continue Reading →

Welcome to Metacademy

Metacademy
I’m thrilled to announce our new Web 3 training facility at Metacademy.xyz. Together with our partners, Blockchain Foundry and Catbotica, we’ve created a free-to-use, risk-free hands-on tutorial that will teach you the correct way to set up a crypto wallet, mint your own NFTs, learn how to buy and sell them, and much, much more. Continue Reading →
Shelly Palmer Innovation Series Summit 2022
You can attend the “must attend” event during CES® 2022 whether you’re going to Las Vegas or working from home. The Shelly Palmer Innovation Series Summit will stream live on January 5, 2022 at 11 a.m. ET at shellypalmer.com/live. Continue Reading →
MetaMask Hacked
My MetaMask Chrome Extension Wallet was hacked. The ETH is gone forever. Even though I can clearly see that address of the wallet that stole it, there's nothing I can do to get it back. I'm just writing this blog post as a warning for anyone who thinks keeping more than a few hundred dollars in a "hot wallet" is a good idea. I always keep a small amount of ETH in my MetaMask wallet to buy virtual goods and NFTs and game tokens, etc. I have been aware that the wallet was vulnerable to attack, but this hack is remarkable. They must have figured out my password – which is hard to do. Here's a chronicle of the events. I'll keep it updated. Continue Reading →
CryptoPunks
You know how to amass a $1 million fortune investing in NFTs? Start with $5 million. If you are trying to “get rich quick,” stop reading now. There’s nothing here for you. If, on the other hand, you want to dig a little deeper into the most popular use cases for NFTs and the transitional technologies empowering web 3, read on. Continue Reading →
Crypto under mattress
During an upgrade to the Compound platform, a bug caused the system to transfer close to $90 million in COMP (their cryptocurrency) to random users. In a desperate tweet, Compound’s CEO begged the users to give the money back. He threatened to dox the users. (That’s a slang term for making user identities public or, in this case, reporting them to the IRS.) Then offered a 10 percent reward for “doing the right thing.” Continue Reading →
Crypto Regulation
China has declared all financial transactions involving cryptocurrencies illegal and is issuing a nationwide ban on cryptocurrency mining. Does this make crypto illegal in China? Not exactly. What does this mean for the crypto markets worldwide? What about the US? How will US crypto be regulated? Are cryptocurrencies considered securities? What about other digital assets? Welcome to the crazy, confused world of crypto regulation. Continue Reading →
cross-chain interoperability
Are you wondering why it is taking so long for blockchain to become as ubiquitous as AI or IoT? One of the biggest stumbling blocks (pardon the pun) is that Bitcoin, Ethereum, Cardano, and the vast majority of other blockchains are proprietary ecosystems (walled gardens) that cannot easily share data or exchange value with other blockchains. This is not a new problem, but there are new, well-funded solutions emerging with exciting roadmaps that point to explosive growth in the near-term. Here’s a quick overview of some projects that have my attention. Continue Reading →

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