In a previous article, we explored the mechanics of Gajumaru State Channels, how they achieve instant finality, support private interactions, and allow participants to exchange value without requiring every action to be recorded on-chain. For readers interested in the technical details, we recommend reading that article first. It explains how state channels function, how disputes…

Ethereum Layer 2s are frequently presented as the natural path forward for blockchain-based financial infrastructure. The promise is compelling: preserve Ethereum’s security and decentralisation while dramatically increasing throughput, reducing transaction costs, and enabling the scale required for serious financial applications. This narrative has gained significant traction. Developers build on Layer 2s. Users entrust them with…

“The most secure computer is one that is unplugged. The most convenient computer is one that automatically trusts everything. Neither extreme is useful.” – Craig Everett Every computer system exists somewhere along a spectrum between security and convenience. A highly secure system is often inconvenient. It requires manual verification, deliberate configuration, and careful control over…

Decentralised exchanges (DEXs) are one of the most important applications of blockchain technology. Their promise is to enable users to trade digital assets directly with one another without relying on custodians, intermediaries, or central operators. This promise is meant to create a more open, transparent, and resilient financial system. In practice, many platforms that describe…

Smart contracts are often described as the foundation for a new kind of financial system. They allow code to directly control digital money, with the promise of systems that run automatically, don’t rely on middlemen, and are open for anyone to inspect. Over the past decade, this idea has grown from an experiment into a…

Summary We maintain that Proof of Work is the only credible way to run a permissionless blockchain, but the consensus around Proof of Work is that miners are primarily motivated by greed. In this article, we make a case for how the calculus changes on a chain that supports actual commercial activity: When commercial actors…