Be Ethereum Aligned

Transcript

What I want to do in this uh very very quickly very very quick um talk is to talk about what means be a tumor allian but not in about okay like you need to be open source stuff no about to understanding why uh these value are important like for the space uh for the future and for everything and understanding like why crypto exist since so let's start by this because now like you know like a a lot of people now are basically DENTS doing stuff but uh and also we have things that are like differently decentralized and stuff and I think it's it's kind of cool to coming back to understand like why the industry exist

because um why crypto exist where we started we can say that something we started was digash in 82 where was this idea about you know like having uh digital payments with signatures that are outside from banks. And why we don't talk about digash anymore is because it was just shut down because all of the transaction and the existence of digicashe was in a server of a company and so it was just shut down by governments.

Then we have like the idea of triple entry bookkeeping which is this kind of idea that instead of having like okay bank A and bank B who track like in and out and uh and we hope in some way to have an agreement between the two we have just a a big bookkeeping who simultaneously take in and out and that's like the triple entry account and then we have for example Napster why you're talking about Napster in a crypto event because uh what solves the idea of double spending and things. It was actually the technology of of Napster because the hashing is when uh for example on Napster you put a file and this file can be shared and downloaded

by other people. This means that you have like hashing this file and you have like a unique ID and so people can share this file. uh actually it's a very cool technology but it doesn't solve the problem that you can add a file which is like for example Harry Potter and then is a porn because you don't verify the creation of the file you just verify that it's the same file that people share and here is when there was like the proof of work so they the invention uh of Satoshi Nakamoto which was this idea of having um of creating like these incentives to actually um about reward to the right incentives to actually like creating the right data that then you

share between uh different validators and stuff. If you want I can go deep about these things but it's pretty much like common knowledge in crypto and all of these things together they created Michael Sailor. No, I'm joking. [snorts and laughter] They created Bitcoin which I prefer to call it the orange coin. So basically it's a triple entry book uh uh is a triple entry bookkeeping with cryptographic signatures like digash uh distributed block verification so verification of the shared stuff like Napster and economic incentives that prevent double spending and make the Ethereum resistant from shutdown censorship and so on so forth.

So we what in the industry is important is that we always need to remember that crypto is here not because it was legal but because it was legit because it was very difficult to shut down. It just works and this is where all of the value came from. This this is why like our token value and uh which which is like what is the end like the why like decentralization and what is bring from on the table. It's like fall tolerance uh because if one part fails, everyone else keep working.

Attack resistance. So uh the expense of an attack is bigger than actually what you can get to just act in a good way. And collusion resistance. So this means that you prevent insiders to benefit at the cost of all the others. So this is like what's bring digitalization into the table and uh yeah now we are like gaslighted by the classic idea about oh no one cares about digitalization which is true for these kind of people but it's not true for this kind of people that for sure it's important because having a centralized point of failure is bring hackers uh legal

uncertainty we all know and these people have armies So we should really care about this and then what's happened what's happen the idea of smart contract which is very easy just have a virtual machine that is able to run scripts fully on chain and this is what's created like the idea of the worldwide computer I'm just trying to be fast and not like going into the and so we have tokens Dows and so on and so forth and uh so we have dabs okay which also here we can Hey uh we have some dabs that are more aligned with is what I I like to call like the web tree and some of the was like yeah web 2.1 which we

can divide in for example like you have a you have persistent scripts that runs on the EWM independent from any of chain authority which is basically like it's limiting the own execution on the EVM like for example like take uniswap v2 okay uh is no upgradability there is no oracle required to run so no offchain data no ownership and it's totally permissionless. And then we are like going into the web 2.1 which is like okay uh let's take for example like uh some application like balancer that yes there is all of this stuff but you have like a semi upgradability which doesn't touch user money but it touch like the logic around it and then we have like okay applications for example that to

require to run they need like to be upgradable if they if the choice or to need oracle to run like for example you can take us wabu You can make your own interface and it just works. But you cannot take an application with require a back end like for example a purpose and uh or for example like uh maker D with oracles or whatever. And then you have like web two which is like exchanges or games. So basically things that they just use the blockchain to receive the funds and then is all about their own logic.

And then you have like something that is in the middle here in the middle there like for example a yes they have some updates but at the same time it's not like a uh it's not like a balancer or you have for example poly market which yeah it's not exactly a checks but it's kind of um then we have the same for assets like we have like for example if we are just the utility stuff like what is the best utility that just on chain is work like what it just like wrap ethereum to use anc20 and doesn't have operability just have it ility there. Then we can talk about like for example like we have like other tokens where the utility is based on someone offchain someone else offchain efforts like for example monster the Dow token or even a

meme coin with ownership announced we can put it here and then we have like you know even here we have a gradable um oracles required to run and stuff like this until we go to the actually is it real crypto like for example like stable coins uh centralized stable coins you the all utility of these coins is about like one real world uh company who is exchanging this to dollar or for example an NFT which the flex is on the image and uh so and uh then we have like so the direction to to the web tree is is is this one um and then we have like

other challenges like the way that people like that would solve like in Ethereum and here like we have a lot of people who don't think about in this way but I want just to share like for example security budget like for example why Ethereum went from the proof of work to the proof of stake uh for one simple reason because the security budget of the chain in a proof of work is not like 100% guaranteed because it's okay it's defined also by offchain stuff like for example electric electricity or whenever uh you know like um computation uh computation but it's also There is a lot of talking about like is the security budget which is the most important thing in a in a chain like really secure for making this chain like

run infinitely like for example in a proof of work because here for example we have uh taking for example like bitcoins we have like the um the miners reward that okay they're cutting up like every single time and for example you see like you have the miners earnings which is like and the cost like for example the ash rate that's go parabolic and What is go what what what is the deal is why this is not like mathematically secure that will run infinitely is that if the price doesn't go up infinitely as the hash rate the hash rate go down and the cost of attack is less and less and less because the security budget go down and this like is fixed uh and then like we could talk about anonymity and privacy when we have like for example what is means like

mining bitcoin and what is means like validating ethereum but that's like another story which is a bit a bit of flex Um and then you have for example the proof of stake which is like a a flex a flexible issuance that depends on how much people stake. uh there is also the deflationary part which is like AP1 uh uh um 1155 like for example that based on transaction like how people use it like it's uh is basically uh reducing the the supply and um and so this means that only only about this like whenever happen into the real world and whenever happen in the market you are pretty much secure that is enough enough like security budget to run the network infinitely. Uh then you have obviously

like penalties penalties per block and actually the proof of work of Ethereum is res is resilient to six 66% attack and we can talk an entire event about why because it's pretty much complex for a lot of people uh instead of 51% of ash rate like uh there is consuming like 99% less energy and is like anon friendly as we saw here because it's very difficult to be anon when you need this to mine and uh it's very easy to be anon when you just need like a small ARM computer or something I can just go around and yeah concentration but this is just this is just a flex let's go forward and uh then we have this the scalability for

example the classic idea about like okay how we scale like the the crypto the crypto stuff like most of the alternative layer one that out there like what they do they just like renounce on decentralization and security to just have instalibility and it's pretty much uh what is going on where Uh the challenge on the Ethereum side it was uh made by layer choose for so for who don't know what is a layer choose it's just like okay uh we can have these miracle miracle proofs and so you can run like offchain computation uh which bring you like security about uh the fact that if you have an asset into a layer two you can redeem this asset into layer one and you're pretty much secure that on the time that required to do the

validation like what's happened there it's secured by Ethereum itself on at some level of degree and uh so uh this is what we have now we I think we achieved like today like 3,500 uh transaction per second actually taking the up >> 5,000 >> 5,000 today or even more and also this bring like a lot of experimentation out there because there is a lot of different layer choose raising fund especially like the level of experimentation that was in ZK when layer 2 started like it's insane for example into the validation perspective and also like a lot of non-financial applications like takecaster

for example and uh so yeah and uh this is how like it's scaling like maintaining like security and decentralization we scale like in way more time because the challenge are the big one and even here we have a lot to talk about decentralization [laughter] because for example yeah you have like uh I don't know If someone of you follow like for example the different stages into like uh L2B it's like we didn't reach like an actually decentralized layer 2 as it should it is supposed to be but we have you know like stepby-step um project who are try to achieve this is long term then we have like side chain that doesn't give you like for example asset security you have just

upselled economic security then you have alternative fm like uh chains which are basically like uh you don't have this asset security but at least whenever happen there is like it's more decentralized in terms of just routing the way you can escape for example to a more secure chain and then you have nonvm alternative layer one which mostly like the real way uh to that doesn't require a third party is a checks and then you have checks which just like okay we have proof of funds that's the only digitalized thing that they can do and there is like binance smart chain which I don't know if it's like on this side or this side. I think for now I will just put here and uh so why like

for example from the tum foundation and vital why why we need a cypher panka again which is actually uh vitalic in this position is more like why we need the cyber punk again bro but uh okay um the whole idea of what we require for the industry to go forward is I mean like global participation uh auditability so building open source be able to audit uh decentralization can obvious Credible neutrality is the only uh like I can say is the only flag that only Ethereum have censorship resistance tool not not empire. So this means like try to make tools that other one can improve not just try not just to try to make yours like more powerful than others and

cooperation and if you think about all of this stuff is same in the same line from web 2.1 to web 3 like on nation state control so something that is not like decentralized enough you can have comparation yes you can create tools yes but to having censorship resistance auditability global participation you need credible neutrality and that's why it's so important to try to stay as much as possible. Let me see if it works this. Yeah. Oh yeah, it works here because this is the challenge that we have in the space and this is why we have value because if not we are like one coin. I don't know if someone remember this. It was a pon scheme actually. I saved my mother to investing on it. Um to don't invest on it. I mean um and there is also like a

lot of challenges that are going out right now. for example, light clients, which is a very cool stuff that that very few people talk about and I would love to have someone that we talk about in about this like in it privacy which uh it will be like mostly the main topic of November par execution zk scaling uh state minimalization and UIX which is like the challenge that I approach right now and all of this uh with the hard goal of incorruptibility even if your constantly gaslighted by people that say my blockchain is faster and cheaper. You have people who say I I extract better there because it's faster pe other people who say a new token a new token to farm I mean at the same at the same

time like normal people in crypto that understand what is going on they say we need we should regulate crypto and politician who say not today but uh what means be aumalign and why is important like all of this uh my reply to this which is like basically like try to drive the ecosystem to this but my reply my personal reply is working on solution that makes sense to achieve the web tree so everything will stay on this side not just to launch a token I don't like money probably but [laughter] this is how uh things work and so on this side you have things that

are worldwide independent and secure and on this side we have politic regulated and something that require you know like humans and stuff to be trustable and uh what's vital think about this it's open source so code must be unspecable and permissionless uh this is transition security we I think we talk a lot about this and open standards so don't reinvent the wheel like there is like an ERC to do this don't reinvent because it's exploit balancer and and and issue interoperability about about wallets and application and so on so forth and

especially build stuff which have a positive sum both for Ethereum uh which contributed to to open source uh to open source um don donate uh whenever you can and also for the world so enable financial inclusion because all of this sincere not to make you rich but to make you free. And if we are too much into try to make rich at some point like everything we have it doesn't value anything anymore because we're building like a pony over a pony over a ponyy of the pony and uh and especially not gaslight which means like if something uh you're doing for some reason don't say like oh but uh I'm doing a positive sum because with my

meme I make people rich is not [laughter] like a a real positive sum. uh so that that that was pretty much like the uh the conversation that I want to introduce because it's like some topics that very people that it's not trendy to talk about it like for example what what is the value of digitalization and so what is a tibility about tibi is to give voice by merit what we want to achieve it's a community of people who are actually uh doing something that matters on ethereum and so and also like bring here all of the voices that are building stuff that are actually uh important for I can say the future and uh so this is why for example like uh

the November season which is like from the next event on is very very is laser focused I would say on privacy which we will have like for example like uh from Hinkal like UIX and compliance of privacy which is a very cool topic because they built a wallet where you can stay anon while you're using it and so also like the part okay like if I have a wallet which is anon and it's very cool and now it works how can I use this money to the real world what is the compliance there uh we also have for example like lucid which it uh it will talk about like zk and the future of privacy so straight limit like understanding what what what we're

talking about this and to finally evade like this topic we have one of my personal friend actually which is like a slat and so this means like when a defi application is hacked this is the guy who find like exactly who this where he live and how to put your lawyer and get the money back and it will talk about the importance of uh onchain privacy and how we are basically in terms of privacy and how to pretty much improve and it's going to be like it will be very very interesting then on December we uh have another like very cool topic which is truth.

Um uh I invited um Mat Tambusi which is like a researcher on on the Ethereum community fund which uh what they're doing is uh try to basically build like the the web three version of Wikipedia which is now it's kind of like a topic because we have Wikipedia there some people say okay this is like politically involved stuff and then we have like rooedia from Elon and we say oh that's it's probably I don't know political but you have also like the the fact that someone uh owned this AI And so like is it possible to create something better? We will discover together. And uh and then like we have for example December 10, December 15, uh 17 that we also like have to decide what

we will do and maybe like uh we can decide together like in the next hour. And uh and also like all of the talks and stuff from ETB they will go on YouTube. You can follow on like on Instagram atizzy and on telegram at [laughter] uh um so uh what we will do in the future it will be like mostly um we want to build like very very important conversation on the space and bring here to to tily and we want also to make hackathons together for

something that really matters and we will talk about this like later like going on with with the creation of this community and that's it. We just want to have the cypher punk vibes and create value as much as possible. And uh yeah uh who am I? I'm basic. I'm an Ethereum maxis in 2016. Probably like the rost one you can ever met in your entire life. And uh uh I'm a coder. I'm a maths guy. I'm an opinionist, an entrepreneur and an investor. like I did my ex project in D5 which was about Dows and D5. I'm a I was an early supporter of building for example like the communities for example in Italy back in the days and now I have my project which

I'm a solo founder which even if it's the sponsor we will not doing advertising we will skip it [laughter] and because that's the kind of sponsorship you're searching about and uh so thank you thank you to be here and I hope we will like create uh the most interesting community on Ethereum uh and that's like [applause] why I'm I and uh so yeah there is a pope and also like now you can get the t-shirt which is only for people who participate into this one by following on Twitter and entering into the telegram the pope you can get it like without this tasks and uh uh there is way more people than I

expected so there is probably not enough t-shirt but uh if you do the task on the next event next week you will get your extra t-shirts actually so sorry for this uh we expect way less people today [laughter] and I'm very happy of this and that there is more people