Ethereum just went through its most complex upgrade ever. Justin Drake, researcher at the Ethereum Foundation, discusses what the upgrade, aka the London hard fork, means for ether’s future as what he calls "ultra-sound money." At the end of the episode, he also drops a few Bitcoin hot takes. Show highlights:
- his background and how he got involved in crypto
- how EIP 1559 will affect Ethereum now that it is live
- why burning ether is good for the Ethereum economy
- what two concepts are crucial to understanding money
- what three ways ether is used as money
- why he believes ether will become “ultra sound money,” when gold and silver are just “sound money”
- what the main drivers of ETH’s value are
- how the merge from proof-of-work to proof-of-stake will happen for Ethereum
- how much more efficient Justin calculates proof-of-stake will be compared to proof-of-work
- why people are saying Ethereum is going through a “triple halvening”
- what factors influence how much Ethereum is issued and burned
- how Ethereum could become deflationary
- why net sell pressure is about to decrease
- what projects are burning the most ETH now that EIP 1559 is live
- why Justin is worried about Bitcoin’s future
- what Bitcoin could do to survive once it only subsists on transaction fees
- whether Justin considers himself a bitcoiner
- how ETH as ultra-sound money is becoming a meme
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2
Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero
Episode Links
Justin Drake
Twitter: https://twitter.com/drakefjustin
Written content
Math
Podcast appearances
London/EIP 1559/Ethereum 2.0 Resources
Unchained content
Learn more about your ad choices. Visit megaphone.fm/adchoices
