It feels bittersweet to say this — TruStory is shutting down and returning the money to investors.

When TruStory first began, our ambition was massive. The team was ready to buckle down for the foreseeable future in order to ensure TruStory’s success.

Over the last 1.5 years, we did exactly that. We worked day and night to build the team, product, and community. We poured our hearts and souls into making our dreams a reality.

But we ultimately realized the market timing for TruStory makes it difficult to turn it into sustainable business on its own.

The longer story

You’re probably wondering why…

Is Earth really round? Maybe we’re actually living on a pancake-shaped planet? Or perhaps it resembles a triangular prism?

These questions form the basis of a debate that has raged on for centuries. Many ancient civilizations subscribed to the belief that Earth is flat. Then science came along and seemingly squashed any notion of this idea — at least, it seemed it did.

I recently watched an eye-opening documentary about modern flat-Earth theorists, known as “flat-Earthers”. This growing community of people vehemently defends the concept that the Earth is flat (if that wasn’t obvious enough to you).

Does this seem…

I’m giving up on the pursuit of truth in favor of something more pragmatic:

Creating a safe space to debate.

Why am I doing this? Well, over the past year of building TruStory, something has become painfully clear — the problem with the Internet isn’t a lack of truth; it’s a lack of willingness to have a healthy debate.

Everybody wants “the truth.” So here’s some blunt honesty: Attaining the truth is impossible if we’re afraid to have a healthy debate about important topics and hear both sides of an argument, rather than silencing everything that doesn’t fit a narrative.

TruStory’s original vision

I moved off Medium about a month ago. All my posts are now on my personal website, including new posts I published in the last month which are not on Medium.

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An overview of key breakthroughs in blockchain technology — and why Nakamoto Consensus is such a big deal

Credit: Michael Roberts/Moment Open/Getty

Distributed systems can be difficult to understand, mainly because the knowledge surrounding them is distributed. But don’t worry, I’m well aware of the irony. While teaching myself distributed computing, I fell flat on my face many times. Now, after many trials and tribulations, I’m finally ready to explain the basics of distributed systems to you.

Blockchains have forced engineers and scientists to re-examine and question firmly entrenched paradigms in distributed computing.

I also want to discuss the profound effect that blockchain technology has had on the field. Blockchains have forced engineers and scientists to re-examine and question firmly entrenched paradigms…

Now that I’ve finished raising the first funding round for my company TruStory, I’m looking back and thinking about all the things I wish I’d known going in… things I had to learn the hard way — and there’s a lot. In this post, I’m going to share some of the most valuable things I’ve learned along the way.

When I founded my company TruStory last year, I was fortunate to connect with an angel investor who immediately saw its potential. She made a bet on me and my idea, and wrote a pre-seed check that allowed me to dedicate…

I’m delighted to share that my company, TruStory, has raised a $3M seed round led by True Ventures with participation from Pantera Capital, Kindred Ventures, Homebrew, Coinbase Ventures, Wonder Ventures, Abstract Ventures, Ausum Ventures, Dream Machine (Alexia Tsotsis), and others. A number of stellar angels also joined the round, including Fred Ehrsam, David King, Scott Belsky, Josh Elman, Alok Vasudev, Jessica Verrilli, and other great supporters. It’s an honor to have each of these partners on board.

This funding will help us build a world-class engineering, design, and community development team to work towards our mission.

What is TruStory?

TruStory is a platform…

Source: https://libcom.org/library/consensus-its-discontents

Intro

Many of us are guilty of describing blockchains as “trustless” systems. However, I’ve come to realize that the term “trustless” is ambiguous, confusing, and most importantly, inaccurate.

Blockchains don’t actually eliminate trust. What they do is minimize the amount of trust required from any single actor in the system. They do this by distributing trust among different actors in the system via an economic game that incentivizes actors to cooperate with the rules defined by the protocol.

Let me explain in more detail.

A truly trustless transactional system would look something like this:

Source: http://www.englishblog.com/2012/02/cartoon-murdoch-walking-on-thin-ice.html#.Wi17n7A-d24

There’s no question that blockchain technology has enormous potential.

Decentralized exchanges, prediction markets, and asset management platforms are just a few of the exciting applications being explored by blockchain developers.

Exciting enough, in fact, to raise over billions in ICOs and drive massive price rallies throughout 2017. The hype is real.

Don’t get me wrong. I love the fact that blockchain “hype” is helping popularize it with mainstream users. Finally, I don’t get blank stares from people when I say “Bitcoin” or “Ethereum”.

However, there’s a flipside to this story that isn’t getting enough attention: blockchains have several major technical…

Here’s something I never thought I’d say: this is my last week in Silicon Valley.

This post is a personal one. Rather than sharing insights on Blockchain or Javascript, I’d like to walk through my inner journey the past few years.

It’s a journey that’s left me itching for change — and driving down to Los Angeles to set up a new home base is a big one!

How I landed in Silicon Valley

I moved to Silicon Valley during the summer of 2012, a little over five years ago. I had just graduated college and serendipitously landed here because of a new job offer. …

Preethi Kasireddy

I do not publish on Medium any longer. You can find my latest writings here: www.preethikasireddy.com

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