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so there are a lot of technologies coming out that are addressing the problems that are seen with bitcoin.
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one really exciting project for us is tezos,
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so what's interesting to me is that you can actually bet on solutions.
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is in a sort of perpetual stalemate or perpetual innovator's dilemma.
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obviously ethereum, ipfs but...
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i think you definitely nailed the major ones that we think about and look at.
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i'm very excited about a future where it is very fluid to move between blockchains. and what i mean by that is so
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as long as both parties are each connected to a node on two different blockchains,
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say bitcoin. so now with the lightning network, you can actually enable peer-to-peer cross chain trading.
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potential here is for a smart contract on one blockchain to actually interact with the state.
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so for example, i could build an ethereum smart contract,
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if it grows to one bitcoin-
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then actually this ethereum smart contract will send the ether back to me because the other person didn't partake in the trade.
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can actually have these peer-to-peer crosschain trading, cross chain interactions,
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the totally fluid ability to move between assets and tokens on a protocol level.
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so getting a new asset won't mean signing up for an exchange.
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who could, for example, boot up your computer,
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kind of siloed from one another. it's very
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easy to move between them.
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i think that's one very exciting future that we see between [inaudible 00:06:41]
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both of which and both my opinion and many other people's, both highly deficient solutions.
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iota, that's working on a sort of a tangle where in order to initiate a transaction
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and they've kind of done away with the idea of blocks.
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probably yes, i-
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general internet latency will probably end up being a greater bottleneck than the actual consensus algorithm.
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it's listing the inefficiencies and it's more the fact that under proof of work,
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whereas take for example, say the ether whales. as the network becomes more and more valuable,
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all of the stake finds itself over many [inaudible 00:07:33]
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we must certainly concede that reality.
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might consider a catastrophic disequilibrium because ultimately governance of the platform winds up in the hands of a very small number of people.
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so, if you have just say three guys who hold a massive proportion of the network-
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have a controlling share and the ability to determine what is and is not a valid transaction.
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how long would it take for this stake to...
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because [inaudible 00:08:02] of smaller holders is proportionally higher out of their pool of...
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it takes a very long time. so i don't think
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which i'm kind of willing to move to a
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but there's a matter of degree here.
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and really how centralized does that get? because
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i think both of these are very small.
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also, if you're talking about a blockchain where a significant amount of innovation continues to evolve,
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the most efficient allocation of capital for investors would likely not be in this perfectly competitive
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mining scenario. and thus,
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prudent investors would seek to either be
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or invest in different projects that have significant potential.
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high staking miners over time.
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essentially, as long as you've got good innovation on the blockchain,
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that should be the most powerful force for the distribution of wealth.
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now that can also increase the gini coefficient quite dramatically.
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all right, i'm actually relatively satisfied with that answer.
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fair comment and interesting that you bring [inaudible 00:09:40]
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i love the commentary that you have in the space and the really interesting questions that you bring for all of us in the ecosystem to think about and
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your work here is very important.
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hey, thanks a bunch. it means the world to hear that from you, ryan.
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i mean, especially because you guys are really at the top of your game and-
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... there's so much hackery and there are so many frauds around-
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it's really great to have-
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well i think that's probably enough, right? i mean-
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... we've really dug through all kinds of subject matter here and-
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sure, definitely.fantastic. and where can people find out more about polychain?
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it continues to grow with the ecosystem-
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if anybody wants to discuss anything, i love a good chat about ethereum and blockchain in general.
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... -ex dfinity, and norton and i have been working together-
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happy to be here. glad to finally have this chat.
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well, norton, let's start with ic.rocks, the-
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datatypes in a easy to consume format-
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there a greater goal for ic.rocks?
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something that really captured my imagination in the early days of ethereum was roman mandalay.
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apparently two major ones supported right now that compiled to web assembly.
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two different community members, that they independently run and the compiled fight code.
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and so that has not been built out yet.
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can you explain the significance of being able to do this?
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and now, how do you know that they're not going to steal your money?
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and just check that the functions don't have a function that say, "steal my money".
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... multi-sake for neurons. but in building that, it became clear that this is just the start of a bigger dow framework.
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for example, you could just use axon to spin up a random dow that has nothing to do with neurons.
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so there's many directions that it could be built in.
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they don't really have great tooling to manage their neurons.
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and that's sort of what i want to support with axon. and then the other direction is to just extend all of the dow functionalities.
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so, there is a current limitation right now where canisters cannot control icp and this limitation exists not because of technical reasons.
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you could have axon control those funds as well.
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... able to access and control the neurons.
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we haven't seen that, but it seems like you've taken the initiative and actually provided the tooling that cohort of investors needed.
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i have all my neurons locked in cold storage and how do i manage my neurons?
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but it's totally possible. whereas before, you had to run your dfx commands-
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... i do believe that the foundation is choosing to let the community take on more of the end user products. so-
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... one principle that just works everywhere. and so, i personally am choosing to use the plug wallet everywhere just because that's what i'm used to.
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and i definitely think that we'll see more community-led efforts on these wallets and neuron management applications.
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what i find really cool about the situation that you just described, is you can spin a narrative about a closed-off foundation that's not listening to the community-
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... which is an organization that has produced this platform that has a certain mindset about how it can be used-
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but that has opened it up to the rest of the community-
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... before the inability for canister to control icp.
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it's meant to be an open platform where anyone can go in-
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but, we didn't have too much of an idea when we started out-
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... for entrepreneurs. if there's proposals in the nns that we feel like should be passed in order to give us a better platform to build on-
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we really can't verify all of those without setting up like a lot of infrastructure.
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and so, really, the ecosystem right now is a bit immature. we-
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fantastic. is there anything else we should touch on before we wrap up?
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what that means is there are capabilities of the sns that simply cannot happen within axon.
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... can't really do that or it can't do that as efficiently as the sns can do.
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i think the axon and the sns are compatible with each other.
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