Exploring the Need for Banks and Innovations in DeFi

Arbitrum is one of Ethereum's hottest L2 scaling solutions, and it has LAUNCHED ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ WE'RE HIRING AN EDITOR: https://cryptocurrencyjobs.co/marketing/bankless-editor-writer/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

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------ 📣 KYBER | DeFi’s First Dynamic Market Maker Protocol https://bankless.cc/kyber  ------ State of the Nation #48: Arbitrum LAUNCH Guests: Co-Founder & CEO: Steven Goldfeder CTO: Harry Kalodner

Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies. Harry Kalodner is Co-Founder and Chief Technology Officer at Offchain Labs, where he leads the engineering team. Before Offchain, he attended Princeton as a PhD candidate, where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies.

Arbitrum released its Mainnet for Developers last Friday. This is an EVM-Compatible Layer 2 Optimistic Rollup, which allows for scaling Ethereum's app layer without sacrificing layer 1 Ethereum security & consensus. This is a massive step forward for the blockchain space and a culmination of years of technical research and testing. This is a milestone in effectively scaling blockchains, while maintaining core cypherpunk values.

There are tremendous opportunities and possibilities in this new digital real estate. This hub of optimized blockspace keeps the economic security guarantees of Ethereum and poses to greatly improve the DeFi user experience. To scale to a billion users, projects like Arbitrum need to earn legitimacy and demonstrate efficacy as the Ethereum ecosystem continues to mature. In the immediate term, the next few months will be exciting to watch - will we see a DeFi Layer 2 Summer?

------ Resources:

Arbitrum: https://arbitrum.io/  Arbitrum Twitter:  https://twitter.com/arbitrum?s=20  Arbitrum Discord: http://discord.gg/5KE54JwyTs 

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Topics Covered:

0:00 Buffer 0:30 Intro 9:48 Arbitrum's Steven and Harry 13:00 Shipping A Layer 2 Product 17:51 A Fair Launch, Equal Opportunity 21:36 Migrating dApps to Layer 2 25:43 A Flourishing Ecosystem 29:17 Bridging the User Experience 33:16 Different than a Sidechain 36:50 Layer 2 ETH Fees 41:10 Resources & Scaling 47:03 Delay Period for Exiting 54:11 Complexity of Rollups 58:30 A Digital Nation-State 1:06:23 Ether is the Reserve Currency 1:11:23 Layer 2 DeFi Summer 1:16:30 Chainlink and Arbitrum 1:20:54 Squeezing the MEV Balloon 1:25:28 Predictions, DeFi Summer 1:30:50 Final Thoughts 1:36:38 Closing & Disclaimers

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

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