Vitalik: Ethereum, Part 1

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


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