👽 To the moon: ConsenSys recently acquired Planetary Resources, an asteroid-mining company, to "bring deep-space capabilities into the ConsenSys ecosystem." In Money Stuff, Matt Levine covers the acquisition stating that it's a logical step since outer space is currently full of machines and sparsely populated with humans. Allowing robots to programmatically terminate or execute actions with minimal friction (ie sans a verification from a centralized entity on Earth) is a fairly niche, but believable use case for blockchain adoption. However, he's bearish on the idea that we can replicate these same systems on earth.
This isn't the first time we've seen the forced marriage of blockchain tech and the space sector. A few months ago, NASA was reportedly looking to use smart contracts to automate spacecraft maneuvering and avoid space debris. In both cases, a blockchain solution doesn't entirely relieve us of the risks, margin of error, and points of failure tethered to entirely centralized operations. Remembering there's still latency in data processing and computing on blockchains, a dependency on oracles for external data, and an inability to encode implied conditions for all circumstances (that satisfies all parties) helps pump the brakes on this delusion.
For a complete list of today's trending articles, head on over here.
"In anticipation of PoS networks starting to come online, there has been a boom in the number of ‘staking as a service’ businesses being launched. Most individuals and even funds don’t want to manage the day-to-day complexity of staking, and are willing to take a haircut on their staking revenue in order to hand off the process. At first glance this looks like an attractive business model –– the amounts being paid out annually are 10-20%, and there’s significant margin for the SaaS providers to take a nice chunk out of that. And yet, key numbers will be moving in the wrong direction for a few different reasons:"
For Arianna's perspective on Staking as a Service solutions, hop on over here.
THING TO KNOW
Short for directed acyclic graph. DAGs function differently than blockchains; a DAG builds a graph of transactions which reference older transactions (so transactions can be confirmed instantly when received by a node instead of having to wait for the next block).