Vitalik: Ethereum, Part 1



Introduction 0:00

Haseeb’s background 0:22

Vitalik’s background 2:43


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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

This This is Part 1 of my interview with Vitalik Buterin about Ethereum and blockchains. Also Part 2:

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37 thoughts on “Vitalik: Ethereum, Part 1

  • April 18, 2022 at 1:27 am
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    “Every generation there is some hustle that if you are really smart very aggressive and you are looking for edges and not afraid of looking weird, there are ways to get ahead early or to make a lot of money in a way that is not obvious to most people”

    Reply
  • April 18, 2022 at 1:27 am
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    I don’t know much about zero knowledge proofs, but from what I’ve learned, they are cool af! I even read on Vitalik’s blog that some of them could be secure when quantum computers come around and break all modern encryption.

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  • April 18, 2022 at 1:27 am
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    Thoughts on chainlink?

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  • April 18, 2022 at 1:27 am
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    man, Bill n Zuck don’t have it easy these days! 😄

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  • April 18, 2022 at 1:27 am
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    Saying new market participants flock to new chains because they don’t value decentralization is totally wrong. Sorry not everyone has a 100 bucks for gas fees… no matter how they feel about decentralization. Should they not participate at all or use these more centralized chains? Great video otherwise… thanks

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  • April 18, 2022 at 1:27 am
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    Wooow, he’s FINALLY realising that centralisation is far superior to decentralisation loooool

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  • April 18, 2022 at 1:27 am
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    I love Web3 because it’s currently distracting everyone from building truly compelling products! More time and space for me 😋

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  • April 18, 2022 at 1:27 am
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    This was gold thank you for this

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  • April 18, 2022 at 1:27 am
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    Now I understand ethereum more…… thank you naval.

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  • April 18, 2022 at 1:27 am
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    Notice no crypto bears ever talk about or try to combat the technicality/backbone of a blockchain. All they focus on the price. Non stem people are a cancer for pro and con arguments of crypto.

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  • April 18, 2022 at 1:27 am
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    wait a minute , that's Chia

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  • April 18, 2022 at 1:27 am
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    is this recorded somewhere? Would be good to see you guys too

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  • April 18, 2022 at 1:27 am
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    The content is awesome but the production quality is subpar. Please, get someone to fix the audio/video production.
    I would love to get the video too.
    Anyway, thanks for the content.

    Reply
  • April 18, 2022 at 1:27 am
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    5 mins in and it's clear that Vitalik is our modern day Einstein. I am so grateful that Vitalik and Naval exist

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  • April 18, 2022 at 1:27 am
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    Re: the common critique that theres not enough non-technical ways in to crypto

    Vitalik literally got his start in the space as a writer

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  • April 18, 2022 at 1:27 am
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    where is part 2. looking forward the rest. awesome chats

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  • April 18, 2022 at 1:27 am
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    When God's talk we listen.

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  • April 18, 2022 at 1:27 am
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    Wait, Vitalik moved to Canada when he was six and at that time did a lot of math, programming and half way through high school????

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  • April 18, 2022 at 1:27 am
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    can't wait to see my comment here 10 years later

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  • April 18, 2022 at 1:27 am
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    This is awesome. Thank you

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  • April 18, 2022 at 1:27 am
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    hi finally im early to a naval podcast

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  • April 18, 2022 at 1:27 am
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    Great as always
    Waiting for part 2

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  • April 18, 2022 at 1:27 am
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    wen part 2?

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  • April 18, 2022 at 1:27 am
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    monero 10x better than zcash imo

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  • April 18, 2022 at 1:27 am
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    Thanks for this podcast Naval. You are truly a great host. Really smart and interesting questions. Way better than other podcasts

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  • April 18, 2022 at 1:27 am
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    Naval's thinking is so clear, great pod

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  • April 18, 2022 at 1:27 am
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    I'm wondering why Cardano wasn't mentioned.

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  • April 18, 2022 at 1:27 am
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    Nice! Loved the whole interview 👍👍
    Would love to hear Gavin Wood (polkadot) and Charles Hoskinson (Cardano) too.

    Reply

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