Today, the boss attended a temporary space held by Smiley Face, and mainly talked about the content related to AA wallet and MEME coin. I will summarize it here for everyone as soon as possible. Thank you for your support.The following are personal notes for sharing only and do not constitute investment advice. If there are any errors, please correct them.1. Questions about AA Wallet1. The original intention of using AA wallet. In the first layer of Bitcoin, whether it is Unisat, XVerse, OKX or other wallets, since the Bitcoin network is a UTXO model, Bitcoin transfers are all under this infrastructure, which cannot be changed. When you actually use Bitcoin's second layer, you will find that most of the Bitcoin second layers, whether we or several overseas companies, are EVM architectures. EVM uses an account model, which is completely different from the UTXO concept, so the two networks cannot share a wallet. At least for now, Bitcoin wallets cannot be used in the EVM architecture, and of course EVM wallets such as metamask cannot be used in Bitcoin. So AA wallet actually makes a layer of abstraction in the middle, so that the public key of your Bitcoin wallet can generate an EVM wallet address to achieve the same operation. The original intention is to make it easier for Bitcoin funds to enter the Bitcoin second layer ecosystem.2. Problems and reasons of AA wallet. This is mainly because in the process of wallet abstraction, each authorized transaction involves a contract call, that is, on the basis of the original call, it is necessary to call the contract of the abstract wallet again. This process involves a SHA256 encrypted contract call. So first of all, no matter which Bitcoin second layer, as long as the AA wallet is used, the GAS is definitely higher than others, because it involves multi-level contract calls. Second, the current CDK version of polygon does not support SHA256, resulting in poor call performance and expensive GAS fees. The third is the way of producing blocks. Because the performance of the AA wallet is very poor, it occupies a large amount of volume in the entire package, resulting in a slower transaction speed.3. Solutions and progress. In the new polygon version, first, it solves the encryption algorithm problem of SHA256, and the performance of the entire contract call will be improved tenfold. On the Merlin test network, we have a new version of the test network that has been running for a while. The contract call performance of AA is indeed ten times better than before, or its transaction volume is smaller than before, about one-tenth of the previous one. Second, due to the smaller transaction volume, not only can the GAS be reduced, but the speed is also no different from that of ordinary Ethereum wallets, so we need to wait for the upgrade. However, this upgrade has been running on the test network for a while, including today and tomorrow, we have been meeting to discuss this upgrade. The entire upgrade must be guaranteed to be safe, stable, and smooth. After all, there are already a large number of DAPPs on Merlin, and there are a large number of developers and users, so it needs to be upgraded carefully, so it still takes some time.4. Current wallet usage suggestions. Try to use your metamask to trade. For example, if you have $10,000 worth of Bitcoin in your AA wallet, you can transfer this Bitcoin to your metamask wallet. In this case, you may pay a gas fee, but all subsequent transactions will be much smoother. This is our suggestion.2. My opinion on how MEME coin can succeedI actually think that Merlin has not yet started in the meme field, or it is in the very early stages.1. Bitcoin ecosystem’s unique MEME culture. First of all, all coins on Bitcoin are actually MEME, whether it is ordi sats or the popular ruins. Even the leading protocols, such as ordi, atom, runestone, and stamp, etc. The coins in each protocol are basically MEME coins. I think this is a culture in the Bitcoin ecosystem, or a solution. Because Bitcoin does not have token empowerment, and Bitcoin itself is even the largest MEME. Everyone believes in the consensus of Bitcoin, but Bitcoin itself does not have other attributes except value storage and value transfer.2. Perfect infrastructure. I think the rise of an ecosystem of MEME is not achieved overnight. For example, Solana has been a very old network, and it can grow such a MEME ecosystem that everyone envy. This must require a large number of developers and a large amount of infrastructure, including cross-link bridges, so that users can quickly transfer money in and out, including a very complete and smooth trading market, including the entire transaction process needs to be very simple, so that users can buy and sell without thinking, including some other financial infrastructure related to DeFi gameplay. These things must be done well before the prerequisites for generating memes are met.3. Cultural attributes of developers. Do the developers in the ecosystem have the cultural attributes of MEME? At the beginning, huhu on Merlin was a token that no one knew where it came from. Including myself, I actually never bought it. It was not until a long time later that someone told me that there was a token called huhu. Some people also said that huhu was the name of my cat, which was quite organic. So I think this kind of culture itself, its organic attributes are very important.4. The success of MEME is accidental. Recently, some people often say that we want to make a MEME on the chain. I am personally pessimistic. For this idea, I think that MEME must have human participation, but it is definitely not that I can make it today. All successful MEMEs do not have such a possibility. Including Dogecoin and Shiba, these coins have been around for a long time. Many people say that the longer they are horizontal, the higher they grow. In fact, there is some truth. It is not that my coin will rise tenfold in the first hour and tenfold again in the second hour. Basically, you can predict the line behind. So I think it is caused by many factors. I think everyone should not be too utilitarian or too design-oriented to look at meme coins. We should still look at this matter with a normal mind and an organic attitude. If I were to go back to three months ago today, I might pay more attention to tokens like Huhu because its generation is more organic.
