- Blockchain "dirty little secrets" (no, not IOTA's ternary..)
- 2 sided commodity market
- currently between miners and users
- miners decide inclusion, miners are not the only ones bearing cost
- computational model is overly simplistic
- immense reliance on commons
- resources are currently massively underpriced / subsidized / ...
- price discovery == people sad
- no clear notion of how to discover resource price
- we need to enable more efficient marketplaces for blockchain resources
- "cryptocommodities", Chicago Mercantile Exchange market (projectchicago.io)
- mitigate risk to businesses of even small fluctuations (eg
- key resources: computation, storage, network [Chepurnoy18]
- transactions tend to be dominant in one
- how to structure incentives for discovery, fair pricing, inc. compatibility?
- how to reduce reliance on commons for robustness?
- inevitability of markets, need to make them first class citizens (oracle,
out of band)
- taking into account "time value" of storage
- stateless clients are not enough, simply punt the issue to another layer
- demand for main chain state will always exist
- so: need rent. need to experiment with rent. need to iterate economic
- challenges: how not to harm UX, how to prevent OOB arbitrage, (in-protocol?)