So we can ask ourselves, where does the value of if even come from? And the way that I think about it is that there's two components. It's kind of the fundamentals, the cash flows. So you can think of a firm as being a business which sells secure block space and people are willing to pay for it with base fees. The income is going to be the total amount of if that's burnt,. That kind of accrues to the if holders and the firm, the network. Now in terms of the expenses of this business, it's basically the cost of securing the blockchain, the cost of providing the product. And that's going-to be the issuance.
In this episode, Anna explores the concept of Ultrasound Money with Justin Drake from the Ethereum Foundation. They kick off with updates on his work in VDFs, MEV and censorship resistance, alongside his particular interests in ZK and how the progress VRFs have made can be applied in Ethereum’s POS architecture. They then dive into the original concept of Ultrasound Money and where Justin sees it progressing to in the future, including the current status around issuance.
Here are some additional links for this episode:
RISC Zero announce the next version of their ZKVM is now available on GitHub at github.com/risc0
Today’s episode is sponsored by Mina Protocol
The need for private, trustless solutions is clear. A new era of ZK powered decentralized applications is coming – and Mina is the place to build them.
Introducing Mina’s zkIgnite Cohort 0, where developers complete tutorials and build zero knowledge apps, or zkApps, and get rewarded. There are a quarter-of-a-million MINA tokens up for grabs for zkIgnite Cohort 0 participants.
Cohort 0 is finishing soon so head to minaprotocol.com/zkpodcast to get involved today.
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