Great, Delta steam or Acra, could you give me a thumbs up if you can hear me? Come on in, clear.
Well says a company clear so much going start
Yo, today I'm going to take a deep dive into governance, decentralized governance, and try to
put a framework in place where people can start to better understand at least what I'm seeing it from.
If we're talking about decentralized governance, you have to first start with the foundation, which is the technology. If you think of a house, you need a blueprint, you need a foundation, but you're
They're also building a house for humans for people. So you need to make it functional for human behavior. Humans like to cook food, use the bathroom, we sleep. So inside this house you're going to want to make areas like a kitchen.
or a bedroom. It doesn't mean you're forcing the human to cook or to sleep in that bed.
But what you're doing is you're building an environment that brings out all the needs that they're going to want. And I equate the human element as governance. That's something you can't manufacture.
control, you can theory it, you can build something, an environment to where they might, or at least be encouraged to do certain activities, but you can't just say, okay, this is exactly what's going to happen.
So, if we're talking about
We're talking about the house, the cement. Everything you need to actually have a structure, that's the technology. And that has to make sense first, because it doesn't matter if you have a nice family in the house, if it just all collapses.
So if we're talking about a foundation, we're gonna be talking about something in terms of layer ones, layer two's. I'm sure a lot of you have heard of a layer one and a layer two in the difference between them.
Well, what you might have heard is probably wrong. The way I see a layer one is as a transaction layer. You have a transaction layer and you have a long form immutable textum.
If you have a transaction layer and you separate that from the smart contracts, if you separate that from the heavy load, you can have a fast, fearless,
base layer. And why is that important? Layer 2's rely on layer 1 security. Therefore, if you have a high fee layer 1, that means it's going to be very prohibitive for anyone to communicate with that.
So if the whole point of a layer 2 is to have the security of the layer 1, but if the layer 1 has high fees, that means the layer 2 cannot communicate with the layer 1 that much. So this should be
It doesn't take a rocket science. You don't have to know technology. I have a layer one. I need to put data on it because the layer one is what everyone trusts. People aren't trying to trust the layer two. They're trying to trust the layer one.
It costs an arm and a leg every time I communicate with that. Well, who's paying those fees? Either you have some kind of genius tokenized model where it's recycling fees and doing it, or you have some centralized funding. The point is, it's not decentralized.
So the more you have to wait in between communicating with the base layer or the layer one you're trying to talk to, the more you have to trust that layer to. Layer 2 is ultimately when they try to become layer 2's for a high field layer 1, become layer 1's because they need layer 1's
in order to stand. And what you end up seeing in practice is a bunch of layer ones and they all sort of communicate with each other very, very rarely. So it's like they're playing tag but rarely. And they do that as like, "Oh, well we're decentralized now because we put our state on Ethereum for example."
Well, that doesn't make any sense and that doesn't scale because the more popular the base layer becomes, the more centralized layer 2s need to become.
Well, that's why layer 1s from our contracts don't work. It's heavy data. If you have heavy data on the base layer, you're always going to have high fees. And the thing about
Smart Contracts is not everybody needs a smart contract. What most people want to use a blockchain for applications is the store state, the store data. I want to store my data on this