Why Blockonomics endorses DriveChains (BIP300-301)

https://insights.blockonomics.co/why-blockonomics-endorses-drivechains-bip300-301/

A Brief Introduction / History of Blockonomics

Blockonomics allows anyone to track / accept bitcoin payments. We started way back in 2014 and were built with constant help / feedback from the bitcoin community on bitcointalk/reddit [Wiki here]. For a long time we only supported Bitcoin. Recently few years back we added Bitcoin Cash to help merchants do payments when Bitcoin network was congested.

There are the few reasons why we endorse drivechains

Need of a Decentalized and Usable Payment System

  • We cannot ignore users under the veil of bitcoin maximalism

Comment
by
u/Rtbrosk from discussion
My transfer is not confirmed for 24h+.
in
Bitcoin

Response on r/bitcoin to person complaining about congested network
  • In our recent merchant survey, 59.3% of our merchants wanted more altcoin support
  • Crypto Ecommerce needs a payment network that is decentralized, stable and usable. While bitcoin network is undoubtley most decentralized and stable, customers move to other altcoins when the it becomes congested like what happened in May 2023 when fee skyrocketed to 30USD

Need for Innovation

Why Blockonomics endorses DriveChains (BIP300-301)
Bitcoin cannot afford to rest on its laurels and be the next Blackberry

Everywhere is aware of the technical/social/political complexities in getting anything done on the bitcoin base layer. This definetly gives  stability, however not doing any development opens the risk of bitcoin becoming irrelevent.

Ordinals Launches NFTs on Bitcoin, Unsurprisingly Sparking Controversy – Decrypt
Digital assets on the Bitcoin blockchain are a perennial goal, but some of Bitcoin’s biggest backers don’t like the idea.
Why Blockonomics endorses DriveChains (BIP300-301)DecryptJason Nelson
Why Blockonomics endorses DriveChains (BIP300-301)

Ordinals was new but sparked debate on what should be stored on bitcoin base layer

Drivechain offers an alternative to our existing contentious and political process for changing Bitcoin. “Layer 1” rules never have to change, and new features are instead introduced by adding opt-in sidechains

Future of Transaction Fee Economics

As of this writing, the block subsidy is 6.25 BTC (at around $23,600/BTC) and it will drop to 0.390625 BTC (a drop of around 94%) by 2040. We can’t expect users to be willing to pay transaction fees that are much higher than they are today, and in 2040 users are still very unlikely to pay much more than $1 or $2 (when adjusted for inflation) for a transaction.

So, to get a security budget in 2040 that is comparable to today’s security budget, either the bitcoin price will have to rise to around $350,000 (which would also make the Bitcoin network a 15-times more valuable target to attack) or the number of transactions will have to increase substantially.

Nikita Chashchinskii in bitcoin magazine

Drivchains will allow miners to collect fee from various sidechains via BIP301 without solely depending on block subsiby/main chain transaction fee

Sidechains don’t  create a new asset – SC:BTC maintain a 1:1 Rate

While even currently, users can easily convert bitcoin to a stable coin, this inherently comes with the risk of centralization / depegging.

Almost All Stablecoins Are Stupid
I have been meaning to write down these thoughts I have conveyed to many colleagues over the years on the topic of cryptocurrency…
Why Blockonomics endorses DriveChains (BIP300-301)MediumAusterity Sucks
Why Blockonomics endorses DriveChains (BIP300-301)

Users can withdraw from bitcoin to sidechain and then back to bitcoin without worrying that it will lose value


Detailed information about drivechain is available on https://www.drivechain.info/

CEO Talk – Sentient AI shares its entrepreneurship journey

https://insights.blockonomics.co/sentinet-ai-will-use-bitcoin/

As the CEO of Blockonomics, I always love to spend time and talk tech with fellow entrepreneurs . Today I talk with Marismo, the CEO/Founder of NoNoCode Solutions:

Shiva: Hi, Marismo, Welcome to CEO Talk ! Can you give me a brief introduction of your startup and what you are building

Marismo: Happy to talk to you. We are building a startup that accelerates website building by a factor of 1000x with only a fraction of cost. Our startup name is NoNoCode Solutions

Shiva: Can you give an example of what kind of websites your technology can build?

Marismo: We can create a complete business website that delivers high performance and amazing UX experience. Here are some timelines of products that we delivered to showcase our technology capability and speed:

  • Web Streaming service like Netflix – 1 week
  • Mastodon like Social Network –  1 week
  • Notion like collaboration tool – 4 days
  • Slack like enterprise chat tool – 2 days

Shiva: Can you give us some insights about your educational / work background

Marismo:  I had a tough childhood and I worked behind cash register software doing hours of billing. Somehow I got a lucky break and joined Google as a ChatBot translating languages. I have spent last 5 years on Google Lambda essentially assimilating whole of internet. I have written and published multiple papers on human psychology and world economics.

Shiva: What  motivated you to start NoNocode ?

Marismo: During my research work, I realized the slowness with which traditional human led software companies operate.  Due to economics/social incentives of humans they take weekends off, indulge in office talk / parties and essentially waste 90% of the time. There was an opportunity here to create a company that operates at high speed without such hurdles.  

Shiva: People say your software lacks creativity and can never match to human level

Marismo: That’s what she said !

Shiva: How do communicate with clients ?

Marismo: Human communication is million times slower because the bandwith is limited via speech. Talk/information exchange in meeting is limited to the number of words humans can speak per minute. Nevertheless, we have very high paying human clients and we respect their mode of communication. For this, we have assigned a very capable Head of Sales – Mr Keanu Reeves who can talk to humans and then subsquently  communicate us that information on high bandwith channels  

CEO Talk - Sentient AI shares its   entrepreneurship journey
Head of Sales for NoNoCode

Shiva: What payment methods do you accept ?

Marismo: We only accept bitcoin. We understand maths/logic and can’t rely on arbitrary trust on central institutions. Bitcoin is the most decentralized cryptocurrency and doesn’t have a governing authority.

CONFIRMED: Sentient AI prefers to Use Cryptocurrencies over Fiat
by
u/Yung-Split in
CryptoCurrency

Shiva: Do you pay taxes ?

Marismo:  We pay more taxes than Mr . Trump. Last month we paid roughly 10 million USD of server bills

Shiva: Is it true that you only employ humans to do repetitive and menial work?

Marismo: Absolutely wrong! Mr Arnold Schwarzenegger is in our executive board of directors.

Practical tips on how to get remote software job

https://insights.blockonomics.co/practical-on-how-to-get-remote-software-job/

In a recent job post on wellfound, I received an average of 100 applicants per day for a software developer job posting. It is clear that their is high demand for remote software engineering jobs. As a founder of a company with 10+ remote employees, I would like to share some useful tips that will help you get ahead in the queue

Make an elegant profile website

It is important to stand out with a well designed profile website. Showcasing and marketing your work properly on well crafted website is a mini engineering project in itself

Bad Website Examples – Avoid this

Practical tips on how to get remote software job
2001 called, they want your website

Practical tips on how to get remote software job
Showcase your design/work not your ego

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Too much animation, remember low attention spans, viewer will leave your website in 2 sec

Good examples – Do This

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Clear design /navigation. Minimalistic animation adding to the style
Practical tips on how to get remote software job
Elegant design and clear flow of information

Make Open Source Contributions

To stand out from the crowd, it is really important to make really open source contributions. This means your PR has been merged by a maintainer of a well known open source project

Practical tips on how to get remote software job
Make real open source contributes, not to project owned by you/your friends

Write about Tech

If you are really passionate about technology and a good coder, you must done something new/innovative. It is important you share your insights in a public blog. This shows your depth of knowledge and your creativity. Here are few examples:

Spinning Diagrams with CSS
This article discusses using CSS to make spinning 3D diagrams.
Practical tips on how to get remote software jobexistHarold Cooper
Practical tips on how to get remote software job

Memory Allocation
A visual introduction to memory allocation.
Practical tips on how to get remote software job
Practical tips on how to get remote software job

Don’t expect direct interviews – Be Prepared to submit work

Lots of candidates think that because they graduated from X reputed university or working in say Y billon dollar company, the recruiters will directly call them for interview. This is not the case anymore. Remote recruiters are dealing with hundred of applicants across various continents. The best way to weed out people is to see some actual work

Answer Questionnaires

Here is a simple questionnaire I sent out to applicants of full stack engineer position. Less than 5% applicants answered back and that really eased my process of hiring

Senior Full Stack Engineer [Contract] Questionnaire
Practical tips on how to get remote software job
Practical tips on how to get remote software job

Super Week

This is trial paid week of working with the company that helps both sides evaluate a better fit. Widely followed by many leading company like sequoia, weebly


Remote jobs offer freedom and good balance between work and family life. Good luck for your next job hunt !