• Vitalik: Ethereum, Part 1

  • Apr 8 2022
  • Length: 46 mins
  • Podcast

Vitalik: Ethereum, Part 1

  • Summary

  • Introduction 0:00

    Haseeb’s background 0:22

    Vitalik’s background 2:43

    A blockchain you can build any app on top of 7:02

    Eth trades efficiency for transparency 10:18

    Like plain text, Eth is simple and efficient 12:41

    Only high-value transactions can afford the blockchain 13:08

    Doing away with ‘trusted’ third parties 14:09

    Trading performance for security 14:43

    ‘Impregnable castles made of math’ 16:23

    Ethereum’s limitations are latency and privacy 16:56

    There are ways to get back your privacy 19:32

    Can Eth provide a high level of decentralization and a high level of scaling at the same time? 20:39

    Sharding leads to more centralization 21:49

    Verifiability at the expense of scaling 24:00

    How much decentralization is the right amount? 25:11

    What happens when subsidies to join nodes disappear? 27:07

    Stateless clients make it possible to verify the chain with very little on your hard drive 28:18

    Staking culture is difficult to cultivate 28:52

    New blockchain players tend to go for minimum viable decentralization 29:54

    People don’t value privacy until somebody goes to jail over it 30:32

    Eth is ‘simple at the base’ 31:12

    Social recovery wallets make it easier to be your own bank 31:44

    Block space is getting expensive 32:41

    There’s not a lot of innovation on Bitcoin, by design 33:35

    Blockchain’s ‘free-rider effect’ 34:57

    Innovation is slowest at Layer 1 35:34

    Layer 2 moves faster because it’s permissionless 36:59

    What if we froze Layer 1 today? 37:25

    Data for computation trade-off 38:57

    Benchmarking blockchains apples-to-apples 40:02

    Enshrining decentralization 41:43

    Tensions between scaling and preserving value 42:27

    There will be multiple stores of value 43:54

    Transcript http://nav.al/vitalik

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