Blockchain | FinTech | Decentralized Internet | Web3
Poland
Joined June 2017
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Just another Polkadot fuckup
Its sad we never got answer on this question but 3rd(!) critical bug in XCM in ~ 6 months. XCM is in development from late 2020. I would say anything if these incidents happened in early days not now. Luckily this one was smallest and basically 0 threat to @hydration_net despite being exploited in the wild. We stopped upgrading on newer versions of P. SDK 1 and half year ago as we stopped accepting notorious senseless insane changes of code for higher chance of bugs which was just validated as good decision. Unfortunately. What we found that even merging flawed, newer version would not work for an attack. Btw these constant changes of code are not just petri dish for future exploits, but the main reason why whole ecosystem went bust under weight of extremely unnecessary never ending breaking changes instead of building actual products. And then to hear “we are not impressed with products built here, we must build everything by ourselves”. LOL. It would be funny if its not sad.
Btw every dev from any cex, staking service or other 3rd party service integrating Polkadot hates it for exact same reason and they don’t wanna touch it ever again even if they are offered money. Can be even lot of money. Thats why native USDT & USDC are not more adopted, despite crazy efforts from Hydration & Velocity side. Real stories. We were saying you all this for years. Even if you listened for once and established LTS and versioning it got better just lil bit, but instead of weekly breaking changes there were massive ones in monthly intervals.
USDT wrapper which was in development for year didn’t survived w/o 1m+ loss less than a month in most basic xyk dex after meeting reality of your own code @paritytech . Before you will rambo style phase 2 of dotusd you should improve all things security related and communicate about it as transparently as possible instead of your renewed passion for opacity. Its very telling this was exploited instead of reported. But after treating white hats as trash (similar to everyone outside of your ivory tower) and offering them peanuts despite all your resources, you must invest more to get their attention again and prevent another disaster.
You can’t develop new internet and new money in the same way which cost you whole ecosystem, support of the world and reputation between builders, researchers, audithors, investors or just ordinary fans. There is and there was never industry wide conspiracy against Polkadot. Only your own words, actions, inactions and mistakes. Critical time to stop repeating them. I would not write this if you are not top source of stress for me this year while I am also trying to build products for the people.
What is the most profitable in Polkadot ecosystem?
0%Staking
14%Building dapps
50%Becoming a Curator
36%Being a validator
22 votes • Final resultsOn duty, still 🙃
In total, roughly 17.3M DOT are delegated to indiv/entities which stopped voting.
Only 5 delegates remain active in OpenGov:
- ChaosDAO
- Saxemberg
- Birdo
- ValidAndina
- Jimmy Tudeski
@Polkadot holders are 😴💤
DeGoogle but more important, ReDelegate.
Jimmy Tudeski retweeted
The funniest thing of the day in Polkadot:
* Community was against the referendum. (14M+ Nay)
* W3F/Parity, using its 120M+ stakes, voted Aye anyway.
* Didn't review the technical details at all. And now the execution failed.
If W3F/Parity vouches for their insiders like this without checking, are their other votes safe? Are they even going to find out if someone "trusted" sneaks in stuff?
No drama, no luck, just pure football royalty.
La Roja is flying to New York to claim the crown.
¡Vamos! La Roja 🇪🇸
Hahaha, Polkadot is so hilarious🤣
while in 2026 other chains compete for institutional liquidity, deliver enterprise, institution level privacy infrastructure for capital markets, tokenized deposits and securities you are flexing around some archaic app & paper rock scissors
The Playground . dot leaderboard has spoken.
🥇 armsves.01 -2,345 XP
🥈 dodonew - 845 XP
🥉 thewudlands - 795 XP
Crowd favourite: rock-paper-scissors-lizard-s…
Most modded: playground-tutorial.dot
This is what happens when you give developers an open testnet and two days.
Congratulations to everyone who shipped something. 🏆
Another list of useless things. Another half year of „products for the people” wasted time, efforts and resources. We were promised usefull dapps, products, a breakthrough. And this is what they been working on 🤣 Polkadot is officially done.
Jimmy Tudeski retweeted
Two days at the Louvre Palace. 2,500 of the most important people in institutional finance and Web3. Panels that challenged everything. Dinners that ran too late. Conversations that will not stop here.
To our speakers, attendees, sponsors, partners, and team. Thank you. You made this what it was.
See you in 2027.
lnkd.in/eb3Y9HMa
Most teams building their first cross-border payment product assume that picking a provider now is a reversible decision.
If the FX desk underperforms, swap them. If the ramp gets expensive, change it. If the KYC vendor frustrates the ops team, find another.
By the time you want to swap, you're not swapping a provider. You're rewriting your payment core. The first corridor is usually built around one set of choices: one FX partner, one payout provider, one ledger setup, one KYC vendor, one ramp.
The decisions feel local - pick what fits the first market - and the integration is direct, because there's no reason yet to abstract anything. That shape works fine until the second market. Then the third. Then the corridor that needs a different liquidity provider, or the regulator that requires a different KYC partner, or the FX desk that quotes 80 bps tighter on the same pair. The cost surfaces when you try to add or replace one of those. Provider-specific assumptions are wired into status handling, retry logic, the reconciliation layer, the ledger schema, the way exceptions get classified.
The "swap" is not a swap. It's a partial rewrite of the payout core, with every other corridor exposed to regression risk during the change. The mistake compounds...
In conventional software, a bad early dependency is annoying. In a payment system booking real money against a ledger, every uncontrolled rewrite is a reconciliation incident waiting to happen. The migration window has to coexist with live settlement, and the team writing the migration is the same team running production.
By the time you realize the first provider became your architecture, the cost to undo it is no longer the cost of an integration. It's the cost of a refactor while the system is live, multiplied by the number of corridors built on the same assumption.
The decision worth making early is not which provider. It's where the seam between your payment core and any specific provider lives, whether ledger, FX, custody, ramp and KYC sit behind interfaces that treat each provider as a swappable implementation, or whether they're wired directly into the workflow.
What is your bet on the orchestation framework?
No one cares about Nakamoto numbers if one entity can single-handedly change the whole protocol rules, tokenomics, freeze the funds, or spend all the treasury with governance proposal and votes.
One way to measure decentralization and why you should care.
A Nakamoto coefficient of 178 means it would take 178 independent validators to collude to disrupt consensus. For comparison, many chains sit in low or single digits.
Decentralization isn't something a network can just claim. It's something you can measure and demand proof of.
W Dubaju można płacić krypto za usługi rządowe a u nas składają propozycje całkowitego zakazu kryptowalut…
Świat pędzi do przodu a my jesteśmy w dupie. A najgorsze jest to że powoli zaczynamy się w tej dupie urządzać…
#krypto do płatności rządowych i podatków? No kto to widział :) 🇦🇪 👇
Crypto .com otrzymało pierwszą licencję na prowadzenie systemu przedpłaconych środków (SVF) od Banku Centralnego Zjednoczonych Emiratów Arabskich.
Dzięki temu stała się pierwszą platformą kryptowalutową uprawnioną do obsługi płatności rządowych w tym kraju.
Oznacza to wejście w życie protokołu ustaleń (MoU) podpisanego w maju 2025 r. między Departamentem Finansów Dubaju (DOF) a Crypto .com.
Mieszkańcy i firmy mogą teraz płacić za usługi rządowe (np. media, parkingi, podatki, licencje, zezwolenia i inne usługi publiczne) za pomocą kryptowalut, takich jak Bitcoin, Ethereum i innych aktywów o dużej kapitalizacji, korzystając z portfeli cyfrowych.
Jak to działa?
Płatności kryptowalutowe są automatycznie przeliczane na dirhamy Zjednoczonych Emiratów Arabskich (AED) lub zatwierdzone stablecoiny oparte na dirhamie przed rozliczeniem z rządem. Chroni to rząd przed zmiennością kursów.
Jest to część strategii bezgotówkowej Dubaju oraz szerszych wysiłków Zjednoczonych Emiratów Arabskich, aby stać się globalnym centrum fintechu i aktywów cyfrowych.
W Dubaju można płacić krypto za usługi rządowe a u nas składają propozycje całkowitego zakazu kryptowalut…
Świat pędzi do przodu a my jesteśmy w dupie. A najgorsze jest to że powoli zaczynamy się w tej dupie urządzać…
#krypto do płatności rządowych i podatków? No kto to widział :) 🇦🇪 👇
Crypto .com otrzymało pierwszą licencję na prowadzenie systemu przedpłaconych środków (SVF) od Banku Centralnego Zjednoczonych Emiratów Arabskich.
Dzięki temu stała się pierwszą platformą kryptowalutową uprawnioną do obsługi płatności rządowych w tym kraju.
Oznacza to wejście w życie protokołu ustaleń (MoU) podpisanego w maju 2025 r. między Departamentem Finansów Dubaju (DOF) a Crypto .com.
Mieszkańcy i firmy mogą teraz płacić za usługi rządowe (np. media, parkingi, podatki, licencje, zezwolenia i inne usługi publiczne) za pomocą kryptowalut, takich jak Bitcoin, Ethereum i innych aktywów o dużej kapitalizacji, korzystając z portfeli cyfrowych.
Jak to działa?
Płatności kryptowalutowe są automatycznie przeliczane na dirhamy Zjednoczonych Emiratów Arabskich (AED) lub zatwierdzone stablecoiny oparte na dirhamie przed rozliczeniem z rządem. Chroni to rząd przed zmiennością kursów.
Jest to część strategii bezgotówkowej Dubaju oraz szerszych wysiłków Zjednoczonych Emiratów Arabskich, aby stać się globalnym centrum fintechu i aktywów cyfrowych.
Congrats Centrifuge! Huge!
Coinbase has made a strategic investment in Centrifuge and selected Centrifuge as a Preferred Tokenization Infrastructure.
Centrifuge brings deep institutional tokenization expertise.
@coinbase brings consumer access, institutional relationships, and developer reach.
Together, we’re bringing differentiated assets to @base.
JAM wont happen at all. They realised it has no chance of wider adoption, there is total mess, teams are frustrated because there is no any leadership, only changes of delivery path, noone been paid inspite of many delivered the M1.
Just check the element chat, absolute cinema
