Ethereum: A Private Chain

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Einstein: I have a sort of two two parts. The first part is just sort of riff it on some of the points that you made. And the second is the sort of the grand vision of why why I think something like this is going to be inimitable. Einstein: At this point, it would be very difficult for Ethereum to become a private chain. He says what people want is not actually about how do you make things private; they want mediate between public and private per user state.

Henry de Valence, one of the deepest thinkers of privacy and the founder of Penumbra joins the podcast for a comprehensive discussion on privacy. Can Gurel, a research lead at Delphi Digital, joins as a co-host given his recent in-depth Privacy report.

In this episode, we covered:

The importance of privacy for humans and in crypto
Financial privacy as a human right
The limits of what can be built on a fully transparent chain
Different ways teams deal with regulation in the ever-evolving crypto landscape
Whether we can expect most liquidity to be in private form in the next 5-10 years

In the technical segment, we dove into various infrastructures of private design, including privacy built on L1s, L2s, dApps and via smart contracts like Tornado Cash. We discussed Penumbra's unique two-phase protocol for privacy vs. concurrent-access-to-state and the potential of threshold decryption as a go-to MEV solution. Our conversation also covered private staking designs, challenges with IBC, and the exciting possibilities enabled by interchain accounts with Penumbra.

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Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token. Delphi’s transparency page can be viewed here.