Mel Project: Is Web3 Truly Decentralised?
- Eric Tung𝕏
Web3’s decentralisation is currently limited to smart contracts as they can be verified on-chain. However, until scalability and UX become on par with that of Web2, the only realistic way for crypto to reach mass adoption is threw off-chain dApps. This creates the premise for a security bottleneck in the form of centralised APIs used for on-chain querying. Mel Project aims to expand on-chain security and decentralisation (consensus) to off-chain apps, basically achieving off-chain composability through trustless light clients. Earendil, the backbone of their ecosystem, designed to resist ISP-level censorship, is a decentralized anonymous communication and payment network that enables autonomous applications and true P2P protocols.
Topics:
- Eric’s background and founding Mel Project
- Why Ethereum came short
- Is Infura a security bottleneck?
- Liberating markets (and the Internet)
- Light clients and how Mel Project tackles them
- Use cases
- Smart contracts on Mel Project
- Scaling the ‘world computer’
- Mel Project’s consensus: Streamlet
- Why Mel Project chose an UTXO model
- Earendil & ISP-level censorship resistance
- Roadmap
- The Geph VPN
- Mel Project’s low volatility (stable) coin
- $SYM: PoS token
- Misc.
Links:
Host:Brian Crain