The Ledger
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Tomaino: Centralized decision-making actually benefited early Ethereum development
“Something like Ethereum, which from a decision-making perspective is, is pretty centralized right now, that's actually been a good thing for Ethereum, and it's allowed them to move fast and break things, right?”
Tomaino: Blockchain forks created significantly more value in 2017 than ICOs
“You know, we hear so much about the ICO boom, but in terms of, kind of, like, total value created this year, there's actually been way more value created by forks than ICOs.”
Tomaino: Well-funded ICO projects will take years to ship products
“A lot of these big projects that have raised a ton of money aren't likely going to ship anything for many years in some cases.”
Tomaino: Near-term crypto wins come from serving crypto-native users
“I'm most excited about projects that are solving problems for the existing crypto community rather than the broader landscape.”
Tomaino: Miner control over blockchain networks creates governance friction
“I think mining, like, miners controlling a network has proven to be pretty problematic. And so I think kind of aligning stakeholders and miners and putting them, you know, as one will be important in terms of, you know, progress in making changes to protocols …”
Tomaino: Overemphasizing ICOs damages crypto project communities
“And I actually think if you focus too much on the ICO or the, you know, the token sale, it can actually really hurt your community.”
Tomaino: 24 of top 25 tokens on CoinMarketCap are usage tokens
“And so, if you look right now at kind of coinmarketcap.com, the top 25 tokens by market value, I think 24 of the 25 are usage tokens.”
Tomaino: Future crypto tokens will combine usage and work utility
“And by the way, these aren't mutually exclusive, so you can have tokens that are both usage and work tokens, and I think many tokens in the future will likely be that.”
Tomaino: Proof-of-stake will make decentralized organizations more inclusive
“So I think when we see proof of stake, we're going to start to see kind of more inclusive ways to create decentralized organizations that lots of people can participate in.”
Nick Tomaino: November 2017 saw $400 million in ICO token sales
“My sense was that the ICOs had slowed down quite a bit, but there were still four hundred million in token sales in November alone.”
Tomaino: Decentralized stablecoins are essential missing middleware in crypto
“The volatility of Bitcoin and Ether are such that they're moving five or 10% in a given day, and no one that's actually using it as a medium of exchange for something or placing bets would actually want to use that, right? So a decentralized stablecoin, in my …”
Tomaino: Hundreds of millions are spent externally securing Bitcoin
“So, you know, hundreds of millions of dollars are being spent external to the network of Bitcoin just to secure the network.”