As much as we compare Canto to a planned economy that doesn’t allow for innovation and gives all of its revenue to corrupt officials (validators taking MEV higher in the preference stack over LPs), one has to give it credit for being the only part of Cosmos enticing net new users
In this week's Chopping Block, @tarunchitra, @rleshner, @tomhschmidt and I:
* Dunk on $CANTO (specifically protocol-enshrined DeFi and CSR)
* Laugh at the fight over Bitcoin NFTs
* Relay LayerZero drama
This one gets spicy.
https://youtube.com/watch?v=LHDeX7wYUts…
one of the coolest projects I've been a part of! secp256k1 ECDSA in ZK has made tremendous progress over the past year, and we're getting super close to "solving it" (which in my opinion is getting fast secp256k1 group membership proofs on mobile). https://twitter.com/personae_labs/status/1621575568109223936…
Also this is the first paper I've seen to actually bother to understand the geometry of CFMMs (e.g. the perspective transform) that is hidden in some of our old papers
One common thing about crypto and AI: there are very few people with original writing styles. All content — papers, companies, software docs, posts — ends up being written by a small number of people and then is copied by the linguistically incompetent, and amplified by LLMs
Kind of amazing that “Stock-based Compensation” and “Stanford Blockchain Conference” are the same acronym (took me a while to understand wtf this said, 🫣)
Not just CEOs/CFOs, I have met board members who think buying back shares to offset SBC is somehow intelligent. It’s financially ignorant, a silly parlor trick, & proof there is no difference between SBC & cash. Except for the fact that boards & managers are more carefree w SBC. twitter.com/modestproposal…
Me, in 2020: "Wow, I've used the quadratic formula more in my life than I ever did in school"
Me, in 2023: "Wow, I've used the Lambert W-function more in my life than I ever did in school"
What's next, zeta functions? 🤣
"A Bias-Variance-Privacy Trilemma for Statistical Estimation," with @argymouz, Matthew Regehr, @vkerdos, @shortstein, and @thejonullman.
https://arxiv.org/abs/2301.13334
Private estimators MUST be biased! 1/n
A bunch of cool papers came out in the last few days (presumably after the EC deadline?)
* there's two from @ConorMcMenamin9 and @vdazaf
* Credible auctions from @tarunchitra@MatheusVXF and @ks_kulk
* CR in auctions from @MaxResnick1@malleshpai@eljhfx
What did I miss?
We have open sourced HyperPlonk!
We are glad to also be collaborating with the Ethereum Foundation on integrating HyperPlonk with their Halo2 library and front end.
Read more here 👇
8/ We hope this contract update gave you a taste of the internal workings of Axiom. We'll be back later in the week with more documentation and guides for understanding our circuits, proving stack, and on-chain verifier. Thanks for bearing with us!
If you say "credible on-chain auctions" in the mirror 10 times fast and close your eyes @malleshpai@tarunchitra@MaxResnick1 and @ks_kulk will show up w/ a white board, some theorems and a bottle of scotch to discuss its nuances
Counterpoint: "ZK" as a moniker for privacy, SNARKs, MPC, ZK, applications that use low degree polynomials has been a Schelling point for LPs which will ensure all of these technologies have 5+ years of funding (and I'd rather this stuff be funded than FTX 2.0)
If you're raising Venture capital, just spray your pitch deck w a few dozen subliminal "ZK" watermarks and watch your valuation triple. ZK-defi, ZK-gaming, ZK-NFTs... it's all happening in ZK-VC
The public broadcast property of blockchains is really awesome! Greatly reduces the number of ways in which an auctioneer can cheat, allowing you to extend credibility results to a much larger class of value distributions.
Cool paper! The idea of using a blockchain (among other mechanism) as a public broadcast mechanism is one of the main topics I'll be exploring in my work this semester, hopefully https://twitter.com/IACR_News/status/1620140819909845004…
In a world where even Google succumbs to pressure to run credible auctions, I believe that cryptocurrency can lead the way in mechanism design. Things like this auctions and other "cryptography for decentralized mechanism design" (
What else can be done? Use ZK/FHE to
1. Increase the set of valuation distributions that can be used (FHE, in particular, allows for this, albeit in a strict model)
2. Model interdependent credible auctions
However, GDAs involves what are known as *interdependent valuations*, in that the buyers' bids will change based on others' valuations. Two examples of this:
1. @ParisHilton.eth buying a BAYC causes others valuation to go up more than if Tarun.eth bought it
2. Winner's Curse
can act as this clearing house for commitments (some are ZK) to ensure credibility in auctions
2. PBS can be made credible with this auction if consensus enforces the DRA + commitments
As such, perhaps having the commitments on a public blockchain changes the strategy space and allows for wider, fatter value distributions — this is indeed what we find! By forcing the commitments to be on a public blockchain, the auctioneer cannot deviate as much as in private
The insight of the original credible auction paper is that you need to model the interaction between bidders and auctioneers on a game tree (an extended form game) that includes the set of messages they are allowed to use and communicate w/ one another (almost like a UC proof)