Crypto Bear? | i am unknowing

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2021-06-07 18:30:07

When I first heard about Ethereum in 2016 I naively saw it as the future of the internet. I was fresh out of a coding bootcamp and felt like I had some basic understanding as to how the technology worked at a very (very) high level. I proceeded to “invest” and try to sell just about anyone who would listen on what I thought to be the Next Big Thing.

At the time, decentralization felt like the obvious next step in the evolution of technology. Why do we need middlemen? It should be our data and we should be able to move it around as we please! Beyond that, why do we need banks? A trust-less system that allowed for collateralized debt would be a game changer!

As a software manager it is part of my job to find inefficiencies and fix them. However, as I’ve grown I’ve come to learn that some efficiencies are there for a reason — to prevent future inefficiencies. Why do we need PR reviews? Why not just push directly to master?

As systems like MakerDAO, Compound, UniSwap, and many other trust-less decentralized finance platforms emerge, they remove “inefficiencies” in the financial system and allow for seamless exchange and lending. While these systems have worked well at a very small scale, they haven’t been without terrifying software bugs.

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