Mechanism Design, Cryptocurrency, and Lambos.

Most articles on cryptocurrency begin with the inception of Bitcoin. Satoshi Nakamoto. Limited supply. Genius. Peer-to-peer. Proof of work. Forks. Scalability issues. More forks. Store of value. Lambo memes. Not for daily use. Bleh.

In the same way society didn’t realize its need for the internet or mobile devices, we find ourselves in the same situation towards peer-to-peer transactions and blockchain technology. Why are there so many cryptocurrencies? So many blockchain platforms building off of one another to become the reigning blockchain 3.0? If you were to picture the perfect cryptocurrency, what would it be? Fast transactions per second? Easy to use? Whatever it is, it has to be thought of from the beginning and potentially reverse engineered. Which leads us to mechanism design.

One mechanism design in particular is GWAP.

(Drafted in 2018; documenting the changing space of cryptocurrency.)

Dave Shin

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