EthCC Voices: Brian Crain Co-founder of Chorus One
Welcome to EthCC Voices, the Medium Series for the EthCC community. The conference organised by Ethereum France is regarded as Europe’s leading Ethereum conference for the community by the community!
Brian Fabian Crain, Co-Founder of Chorus One, one of the biggest institutional staking providers operating on 40+ Proof-of-Stake networks including Ethereum, Solana, and Cosmos.
With EthCC[6] wrapped up, Brian Fabian Crane identifies three upcoming trends that he thinks and hope we’ll see dominating the year ahead: decentralized computing network where individuals can have their own servers, privacy, and staking and the reuse of state assets
What do you think are the highlight moments in crypto over the past year?
Well, two significant events stand out to me, although they were more on the negative side. Firstly, the explosion of FTX, which was like the poster child of the time. Vitalik Buterin was everywhere, and it had a massive impact. I believe it was a significant development, but it also had a detrimental effect on the reputation of the crypto industry, which seems to have hit an all-time low or something close to it. Secondly, the SEC’s relentless efforts to shut down the crypto industry. They targeted even the most conservative companies like Kraken, Coinbase, and Gemini, despite their attempts to comply with US regulations. In addition, the overall market conditions have been poor, with reports suggesting that crypto VCs have raised 95% less money compared to a year ago.
However, amidst these challenges, there are still positive aspects worth mentioning. There has been considerable progress in terms of technology, infrastructure, and various other areas. Many people in the industry remain fully committed despite the difficulties we face. I believe this shows resilience and determination. Personally, I consider this period one of the most challenging times in my crypto journey.
On the topic of staking, there has been significant growth and development. We have witnessed improvements in staking networks, validators, and integration with custody services. Liquid staking has also made great strides. These advancements have made staking a well-established and functioning product, appealing to institutional investors and anyone interested in participating in crypto networks.
What are some new trends you think will emerge over the next 12 months, which ones are you excited about?
I can identify three trends that I believe will gain prominence. Firstly, I’ll be discussing this topic during my upcoming EthCC talk, and that is urbit. Urbit represents a decentralized computing network where individuals can have their own servers. It has reached a level of technical maturity that positions it as a potential operating system for building crypto applications. This is something I find very promising.
The second trend is more of a hopeful wish, which is privacy, especially in terms of on-chain privacy. Although progress has been made, I believe there is still a significant need for advancements in this area. Projects like Noma, which is similar to Cosmos, and certain Layer 2 solutions focused on privacy, offer some potential solutions. However, I believe there is much more to be done in this space.
The third trend revolves around staking and the reuse of state assets. For example, staking in Ethereum or other ecosystems where state values can be reused in various ways and multiple times. This area holds great interest and potential for innovation, and I anticipate seeing changes and new products emerge from it.
Lastly, decentralized finance (DeFi) continues to be of utmost importance, with numerous developments taking place. However, the future of transaction processing and inclusion in blocks remains unclear. How transactions progress from the moment they are sent until they are included in a block is a subject that still requires further understanding.
How has being a part of the EthCC impacted you/ your team thus far? Has anything come out of it?
Looking back, I recall when I first attended EthCC several years ago, it was a laid-back and friendly atmosphere, creating a cool conference experience. This time, I’m eagerly looking forward to it because it feels like one of those special moments in the year when everyone from the industry gathers in one place.
EthCC in Paris serves as a hub, not just for the Ethereum community but also for other related events and conferences that happen before and after. The coming together of different ecosystems and communities in Paris is a beautiful and exciting phenomenon. I am excited to connect with numerous people I’ve been wanting to catch up with and explore various interesting topics that will be discussed during the conference. I anticipate fruitful interactions and the emergence of new ideas.
In terms of notable outcomes or developments, it’s difficult to predict specific outcomes at this stage, but I firmly believe that the exchange of ideas and networking opportunities at EthCC will lead to valuable insights and potential collaborations. EthCC has proven to be a catalyst for innovation in the past, and I am confident that it will continue to foster growth and progress within the industry.
What impact do you think Ethereum updates this year will have on the overall ecosystem, crypto projects, and mainstream adoption?
At a high level, the current Ethereum updates aim to bring the network to a state of maturity, characterized by solidity, reliability, conservatism, and safety. There has been significant progress in this regard. The transition to staking, for instance, has been a massive development and is progressing well. As a result, we are seeing a shift where most of the innovation is happening in the Layer 2 (L2) ecosystem. This transition is starting to bear fruit as more people begin to utilize L2 solutions, and bridges are being established between different L2 networks.
In addition to this, there are other important updates to consider, such as account abstraction. This feature holds significant importance as it enables more flexibility and efficiency when interacting with the Ethereum network.
Anything else to add?
Absolutely. We have been deeply involved in the Ethereum ecosystem for quite some time now, with a significant focus on Ethereum staking. We have made substantial investments and dedicated efforts to develop an exceptional institutional Ethereum staking product. It has been an exciting journey, and we are proud of the progress we have made in this area.
In addition to staking, we are actively working on the concept of Miner Extractable Value (MEV). We find this topic particularly interesting and have been conducting extensive research. For instance, we are currently collaborating with dydx on a comprehensive MEV report, exploring how they can effectively handle MEV within their ecosystem. We believe sharing this research benefits the broader audience and contributes to a better understanding of MEV dynamics.
Furthermore, we are thrilled to collaborate with individuals and projects across different ecosystems who are seeking a reliable and high-quality staking solution. Our expertise extends beyond Ethereum, and we are eager to support those in need of a robust staking infrastructure.
Lastly, I would like to mention our recent launch of Red Horizon. Red Horizon is an orbital-themed product and project that we began working on approximately a year ago. We officially introduced it to the public just a month ago. If anyone is interested, they can learn more about Red Horizon at redhorizons.com. Additionally, I will be delivering a talk at EthCC that focuses on Red Horizon and addresses the curiosity and interest surrounding this innovative concept within the Ethereum community.
