Company
Date Published
Author
Chainlink
Word count
92
Language
Chinese
Hacker News points
None

Summary

In a society where trust is vital for social and economic activities, the misalignment between people's perceptions and reality can lead to a crisis of trust and calls for systemic change. This text explores the concept of "trust minimization" through blockchain and oracle technologies, which offer cryptographic assurances that digital contracts are executed as agreed, thus creating a new competitive landscape for Web2 and Web3 applications. By examining concepts such as trust, trustlessness, and facts, it emphasizes the potential for these technologies to enhance objectivity and predictability in applications. The text introduces a "fact-matching coordinate system" to assess the trustworthiness and verification of both Web2 and Web3 services and discusses how applications can move within this system to improve their reliability. It highlights "encrypted facts" as a method to achieve trust minimization, offering examples of how decentralized technologies can provide transparent, tamper-proof applications that reduce reliance on brand reputation or legal contracts. The text argues that as these technologies advance, their ability to address societal trust issues will become a decisive factor in the future competitive landscape, urging stakeholders to adopt trust-minimized protocols and products for long-term value.