Trustless automation = ZK-powered finance of the future
Everyone that tried out the consortium L1 model in the previous cycle is now moving to an L2. The inbound we get from these is quite a sight to behold. The banks all tried this a few cycles ago and where are they now?
Everyone realized that consortiums don’t work because they rely on trust. Trust between counterparties, between competitors, between different jurisdictions.
Systems built on trust is just a rehash of the existing system we are trying to break free of. It’ll be stuck in a quagmire of legal contracts and decision by committee. You can’t build global systemically important financial infrastructure if there is a neck to choke that is inherently biased.
This is the power of a fully decentralized, trustless Layer 1 like Ethereum. It automates trust.
This is the power of Layer 2s. Build on a trustless network with your own execution environment where you fully control everything.
5K
26
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.