If someone peeked at your hand while you were playing cards, you’d definitely curse them out on the spot: “What’s the point of playing?” So why is it that when your trading plans are watched by everyone on-chain, you just quietly accept it?
The thing that really stood out to me about @Nillion was exactly this. Put all that “new privacy narrative” stuff aside for a moment. I stayed up late researching this strategy—why should it become someone else’s free homework? I put up the capital, I take the risk, and someone else gets to see the answers in advance? That’s ridiculous.
The core product of $NIL , Covenants, is actually pretty easy to understand: lock instructions in a “conditional safe” and publish them to the chain in encrypted form. Until the conditions are met, the contents stay sealed; once they are, the instructions are unlocked and executed.
At this point, I can say one thing I like is that you can arrange things in advance without revealing your hand ahead of time. (And without talking nonsense.)
Take an on-chain auction, for example. If I submit my bid first and you submit yours later, and you can peek at my price and outbid me by just one dollar, then all that time I spent researching the valuation was basically spent paving the way for you. Sealed bids make the value of this much easier for me to grasp than a pile of cryptography jargon.
What’s more, the first version, Dusk, is already live on Ethereum mainnet—not a testnet. For now, it starts with price- and time-based conditions, so developers have something they can actually build with.
Of course, what I’m most looking forward to in the seven-era roadmap is cross-chain triggering and settlement: an agreed-upon event happens on one chain, and an instruction on another chain executes in response. Adding more flexible custom conditions later would bring it closer to real-world trading needs. But those features will have to wait for future releases, so we can’t count them as delivered yet.
And don’t take this to mean that “using it means you can’t get rekt.” Keeping instructions private doesn’t mean every trigger condition is hidden, and it certainly won’t make money for you.
Dusk is the first step, and the team plans to keep rolling out new versions before the end of the year. I’ll keep watching: can they actually build an application people want to keep using?
We can verify the rules together. There’s no need to show the whole table what cards I’m holding ahead of time, right?
#nil $NIL @Nillion #NIL
The thing that really stood out to me about @Nillion was exactly this. Put all that “new privacy narrative” stuff aside for a moment. I stayed up late researching this strategy—why should it become someone else’s free homework? I put up the capital, I take the risk, and someone else gets to see the answers in advance? That’s ridiculous.
The core product of $NIL , Covenants, is actually pretty easy to understand: lock instructions in a “conditional safe” and publish them to the chain in encrypted form. Until the conditions are met, the contents stay sealed; once they are, the instructions are unlocked and executed.
At this point, I can say one thing I like is that you can arrange things in advance without revealing your hand ahead of time. (And without talking nonsense.)
Take an on-chain auction, for example. If I submit my bid first and you submit yours later, and you can peek at my price and outbid me by just one dollar, then all that time I spent researching the valuation was basically spent paving the way for you. Sealed bids make the value of this much easier for me to grasp than a pile of cryptography jargon.
What’s more, the first version, Dusk, is already live on Ethereum mainnet—not a testnet. For now, it starts with price- and time-based conditions, so developers have something they can actually build with.
Of course, what I’m most looking forward to in the seven-era roadmap is cross-chain triggering and settlement: an agreed-upon event happens on one chain, and an instruction on another chain executes in response. Adding more flexible custom conditions later would bring it closer to real-world trading needs. But those features will have to wait for future releases, so we can’t count them as delivered yet.
And don’t take this to mean that “using it means you can’t get rekt.” Keeping instructions private doesn’t mean every trigger condition is hidden, and it certainly won’t make money for you.
Dusk is the first step, and the team plans to keep rolling out new versions before the end of the year. I’ll keep watching: can they actually build an application people want to keep using?
We can verify the rules together. There’s no need to show the whole table what cards I’m holding ahead of time, right?
#nil $NIL @Nillion #NIL