The Importance of Privacy in a Tenderment Chain

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For us, we chose to have to be an L1 because a lot of the things that we wanted to do actually did require having pretty deep integration with the consensus layer. So one important thing is being able to do batch processing. Most of the interesting parts of the penumbra decks happen at the end of the block in a single batch. Also that kind of automatically eliminates a lot of transaction ordering questions as everything will just get badged up at the end.

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.