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If it contains the word covenant or ZKP, it's bullshit. Every single time. It's all DeFi grift. The physics of Bitcoin are immutable, there's no novel magic to be had, it all comes down to re-branding trust and centralization and calling it a perpetual motion machine.
Ignore these papers as you would any shitcoin paper because its all downstream of the shitcoin-on-bitcoin mind virus.
Zero Knowledge Proof just sounds so damn cool. But I still have a hard time understanding what it means, especially within the contexts in which they're being used.
With ZKPs, it seems like the devil is entirely in the details, and thus throwing the buzzword out like that tells me almost nothing about what the security and trust assumptions really are.
It's how you know they're playing a trust shell game #1427126
"There's no trust assumptions other than having to trust the entire thing"
This looks really cool: #1427029