Daily update from DevconV: Day 2
Wow — what a day. So if yesterday was a warm-up, today really kicked off, with all the stars on the #speaker agenda.
Vitalik Buterin gave his keynote addressing an important topic in the blockchain space: cryptoeconomics. Starting with the origins of Bitcoin, Satoshi Nakamoto did not find the solution to the Byzinantine General’s Problem, but he did find a way to utilize cryptoeconomics, to create a new financial system, and that is bitcoin’s true invention, according to Vitalik. It felt like a bit of a relief for me. Sometimes I have feared that the macro- and microeconomic theories do not play a large enough part in the decision-making process of the future design of the Ethereum protocol. The keynote reassured me, that it still is at the center of the design.
That led me to another talk by Collin Myers from ConsenSys, who was the proof the abovementioned focus on Ethereum economics as well. In the 20 min. long session he distilled the economics of Ethereum 2.0, whose numbers was fresh and thus a bit changing to what we’ve seen before this year. A lot of assumptions and models was built into the economics forecasts, but all very transparent, thus one can input his own assumptions in order to calculate a different tokenomics of Ethereum 2.0.
We discussed economic incentives for stakers as well as risks, protocol changes and expected staking ratio. Bitcoin Suisse was invited to a channel to discuss cryptoeconomics in Ethereum 2.0, which we see as a great way to influence the direction of the tokenomics and work together with the Ethereum community to deliver optimal staking conditions.
On another note, MakerDAO announced that they will launch #MCD on November 18th, which is just a month away, and was maybe the biggest take-away from today’s news at the conference. Rune did an excellent speech on DeFI and Mariano Conti came with a heartfelt story on how to live on decentralized finance in Argentina.
Lastly I have to mention Carl Beekhuizen who layed the foundation on how to utilize the BLS signatures in order to provide pooled ETH staking — in a trustless way.
In the evening, ChainLink invited us for a rooftop party at Hyatt Regency which lived up to the expectations in full.
