Recently, the group has been sharing screenshots about stablecoin regulation, reserve audits, and various "de-pegging" concerns. Honestly, seeing so many makes me a bit tired... But I tend to take a step back and think: isn't the core issue just "who is keeping the ledger for your money, who is queuing, and how long until it’s truly settled in the wallet"?

A bunch of terms: data availability, ordering, finality. They sound intimidating, but really, just focus on one line — can you restore the ledger in the worst-case scenario? Data availability is like backups: it’s not about teaching you how to back up, but about confirming that backups actually exist and aren’t just claimed by the admin. Ordering is about who can jump the queue, and finality is about thinking your transaction is settled, only to find out a few days later that it wasn’t actually written to the disk... Anyway, I now look at these three points first when reviewing protocols; no matter how good the story sounds, I put that aside for now.