Ethereum's Large Trust Layer Is More Explicit Than Staking

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Jesse: I am pretty excited because I think previously a lot of the protocols are secured by multisigs and whether it's crypto economic security or it's security guaranteed by cryptography, I think it's a huge step up to much better security. Vitalik: The takeaway for me is we need to like, uh, at the same time be careful, but also like a probably nimble in how we develop both social norms and the protocol in the face of this.

What are the implications of restaking? Not every Bankless listener will be prepared for this conversation. This one is a hard one. If you want to be adequately equipped for the conversation that awaits, we recommend listening to the Bankless episode we did with Sreeram a few weeks ago. That episode will get you up to speed to understand some of the nuances and problems that are discussed in today’s episode.

Because, today on the show, we have the largest and most gigabrain panel that we’ve ever had on Bankless…Vitalik Buterin, Justin Drake, Dankrad Feist, Jessy (aka 13-year-old VC - that’s her pseudonym), and of course… Sreeram Kannan himself, founder of Eigenlayer and perhaps the creator of restaking…all moderated by Tim Beiko!

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----------- TIMESTAMPS

0:00 Intro 4:45 Setting the Panel 8:51 Jessy’s Restaking Thoughts 10:20 Justin’s Restaking Perspective 11:40 Dankrad’s Restaking Views 12:30 Sreeram’s Restaking Arguments 14:00 Why Justin is a Restaking Doomer 18:30 EigenLayer’s Restaking Architecture 22:05 Restaking Builder Hooks 25:05 Vitalik’s Restaking Concerns 30:05 EigenLayer’s Acceleration 32:50 Sreeram Addressing Vitalik’s Concerns 37:48 Ensuring Restaking is Aligned 46:04 Reputation Systems & Alignment 51:35 Ethereum Protocol Complexity 59:00 Credible Neutrality 1:03:30 MEV Boost & PBS 1:07:10 One Shot Signatures 1:09:10 Closing Thoughts, Arguments, & Next Steps 1:16:30 Closing & Disclaimers

----------- RESOURCES

Sreeram Kannan https://twitter.com/sreeramkannan https://youtu.be/HcEGXoC57Rw

Vitalik Buterin https://twitter.com/VitalikButerin

Tim Beiko https://twitter.com/TimBeiko

Justin Drake https://twitter.com/drakefjustin

Dankrad Feist https://twitter.com/dankrad

Jessy https://twitter.com/13yearoldvc

----------- 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.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures