Bitcoin - A Last And Final Digital Gold ? - Project Caesar #0: Introduction and Goals
... Normally, one would expect a project that controlled this amount of value to break under an avalanche of highly motivated hackers...
High-speed high-impact AI-generated summary:
Bitcoin proves the power of decentralized systems but isn’t flawless. Project Caesar aims to surpass Bitcoin by studying its strengths, fixing its weaknesses, and innovating with ideas from other blockchains.
👉 Follow StJohn Piano on LinkedIn:
linkedin.com/in/stjohnpiano
👉 Follow StJohn Piano on Substack:
substack.com/@stjohnpiano
[Open the link, click the 3-dot button on the right-hand side, and click Follow]
📩 Message StJohn Piano directly on Tela:
tela.app/id/stjohn_piano/5db830
💎 Tela is a Priority Inbox chat system for writers, consultants, and professionals. Every message pays you before it arrives. You can sign up here:
tela.app/id/stjohn_piano/46628c
🚀 Join the Tela Network Forum.
➡️ Goal: High-signal updates.
🟢 Post your content / company / service / job / contractor profile / news.
🔥 Summaries will be re-published on other platforms.
👉 The forum is a network journal. You can message authors directly via the Tela contact link in their post.
🔥 🏛 Project Caesar - Bitcoin Mark2 - Introduction
Bitcoin is the most successful software project in history.
➡️ It has run for 15 years.
➡️ It has processed over 1 billion transactions.
➡️ Its price has risen through 8 orders of magnitude !
(The first recorded price was $0.000764 / coin. The current price is $69,783.96 / coin.)
Normally, one would expect a project that controlled this amount of value to break under an avalanche of highly motivated hackers.
However, the successful hacks have been made through social deception or technical side channels.
The actual underlying cryptosystem was designed strongly enough that it has defeated all direct attacks.
I am persuaded that Bitcoin will be around for the foreseeable future. I expect it to continue for at least another century, perhaps two.
But: I am not convinced that it is the last and final digital gold.
It has first-mover advantage. It has excellent branding. It has high mindshare. It occupies a significant position in many investment portfolios.
And yet I know, from my personal direct experience working in its gears and cogs, that it has its share of technical difficulties and problems.
🤔 I ask myself: Could a genuine second digital gold be built ?
What would it look like ?
What would it copy from the original ?
What would it do differently ?
Therefore: Tela Network is announcing a new venture:
Project Caesar - Bitcoin Mark2
🔥 🏛 Project Caesar - Bitcoin Mark2 - Goals
1) Examine Bitcoin with a critical but friendly eye.
What were its good choices ? Why did those work ?
What were its bad choices ? Why did they not cause the system to fail ?
Ultimately, the design criterion for an architecture choice for a digital gold is: Does this choice increase the power of the cryptosystem and its users ?
2) Gather a list of changes that Bitcoin would ideally incorporate, but which it cannot due to game theory and existing architectural decisions.
There is an interesting comparison here to the process of gene fixation.
3) Look at ideas from other blockchains.
What is the underlying design goal of each blockchain ?
Why were those ideas developed ?
What do the resulting features allow / accomplish ?
Could this idea increase the power of a new digital gold cryptosystem and its users ?
4) Build prototypes of a Bitcoin Mark2.
Make heavy use of new AI coding tools.
Develop simulations that model the economic interaction of multiple agents (Nodes, Miners, Users). (Exchanges ? Wallets ?)
5) [To Be Determined]
Yours in ambition,
StJohn Piano
CMO @ Tela Network
♻️ If you liked this post, please share it with someone else who would also enjoy it. Personal referrals are the most effective way that you can help a new project to grow.
🏛 If you would like to join Project Caesar, contact StJohn Piano on Tela.
📩 Message StJohn Piano directly on Tela:
tela.app/id/stjohn_piano/5db830
📙 Tela Network consulting profile: StJohn Piano
telablog.com/stjohn-piano
💎 Tela is a Priority Inbox chat system for writers, consultants, and professionals. It provides you with a contact link that be easily added to your website and content. Users click the link and enter a paid private chat with you. Every message pays you before it arrives. You can sign up here:
tela.app/id/stjohn_piano/46628c
🛠 How to use Tela:
telablog.com/how-to-use-tela
☕️ Follow Tela Network on LinkedIn:
linkedin.com/company/tela-network
☕️ Follow Tela Network on Twitter:
twitter.com/tela_updates
🔔 Join the Tela Social channel on Telegram to get new content broadcasts:
t.me/tela_social
📸 Follow Tela Network on Instagram:
instagram.com/tela_updates
☕️ Subscribe to the Tela Network Podcast:
youtube.com/@TelaNetworkPodcast
🌎 How to join Tela Network:
tela.network/join
💎 Check out the Tela Referral Program:
telablog.com/tela-referral-program
🚀 Start a consulting chat or book a call @ Tela Consulting:
telaconsulting.pro
🌎 Opportunities for Collaboration at Tela:
telablog.com/opportunities-for-collaboration-at-tela