In 2023, many old-timers in the crypto space still remember the wave of Bitcoin inscriptions. During that time, inscriptions were incredibly profitable, and everyone stayed up late to work on them.
I recall that as the number of transactions in the memory pool increased, the transaction fees were almost changing every second, which was particularly alarming. To grab a popular inscription, one had to pay exorbitant transaction fees. Those fees represented a real loss, and over time, it accumulated into a significant cost.
Thinking back to that crazy time, I suddenly came to a very realistic realization: although it’s the Bitcoin ecosystem, just one inscription can lead to a surge in transaction fees. How could Web3 possibly handle real, large institutional funds in the future?
Imagine if you were the CFO of a multinational corporation, having prepared the IT budget for the whole year, ready to move business settlements onto the blockchain. But then, because of a single inscription next door, your company’s transfer costs skyrocketed several times today! How do you account for that?
Costs are completely uncontrollable; the old money of Wall Street and traditional industries would never dare to join retail investors in playing this Russian roulette.
Seeing through this absurd pain point, you can understand how strong Cardano’s child—privacy sidechain @MidnightNetwork —has been after five years. Its killer feature that can absorb trillions in traditional funds is its extremely seasoned "dual-track" token model.
#night completely separates the "casino" from the "factory" at the physical level.
It has designed two types of tokens: one is $NIGHT , specifically for speculation, staking, and hype on the secondary market, with outside funds being subject to whatever manipulation you want, no matter how frenzied;
The other is $DUST, which is specifically for running smart contracts and conducting business settlements on-chain. Its consumption cost within the network is extremely stable and insulated from outside speculation.
What does this mean? It means that regardless of how crazily the external speculative market behaves, the cost for businesses operating on Midnight remains absolutely stable and can be accurately accounted for.
Without this cost-stabilizing bulletproof vest, public chains will always be a zero-sum game of retail investors cutting each other. Only true hardcore infrastructure that separates speculation from commercial flows can support the next wave of institutional funding flooding in.
I recall that as the number of transactions in the memory pool increased, the transaction fees were almost changing every second, which was particularly alarming. To grab a popular inscription, one had to pay exorbitant transaction fees. Those fees represented a real loss, and over time, it accumulated into a significant cost.
Thinking back to that crazy time, I suddenly came to a very realistic realization: although it’s the Bitcoin ecosystem, just one inscription can lead to a surge in transaction fees. How could Web3 possibly handle real, large institutional funds in the future?
Imagine if you were the CFO of a multinational corporation, having prepared the IT budget for the whole year, ready to move business settlements onto the blockchain. But then, because of a single inscription next door, your company’s transfer costs skyrocketed several times today! How do you account for that?
Costs are completely uncontrollable; the old money of Wall Street and traditional industries would never dare to join retail investors in playing this Russian roulette.
Seeing through this absurd pain point, you can understand how strong Cardano’s child—privacy sidechain @MidnightNetwork —has been after five years. Its killer feature that can absorb trillions in traditional funds is its extremely seasoned "dual-track" token model.
#night completely separates the "casino" from the "factory" at the physical level.
It has designed two types of tokens: one is $NIGHT , specifically for speculation, staking, and hype on the secondary market, with outside funds being subject to whatever manipulation you want, no matter how frenzied;
The other is $DUST, which is specifically for running smart contracts and conducting business settlements on-chain. Its consumption cost within the network is extremely stable and insulated from outside speculation.
What does this mean? It means that regardless of how crazily the external speculative market behaves, the cost for businesses operating on Midnight remains absolutely stable and can be accurately accounted for.
Without this cost-stabilizing bulletproof vest, public chains will always be a zero-sum game of retail investors cutting each other. Only true hardcore infrastructure that separates speculation from commercial flows can support the next wave of institutional funding flooding in.