Unchained Not Sure a Cryptoeconomic System Will Work? Gauntlet Can Help - Ep.124
Jun 18, 2019
Tarun Chitra, cofounder and CEO of Gauntlet, dives into how his platform helps crypto teams simulate project outcomes before trading. He reveals the impact of design choices, like token distribution, on economic dynamics. The conversation highlights differences between proof of stake and proof of work, alongside the challenges of modeling user behavior in cryptoeconomic systems. Chitra's insights into the Libra project illuminate critical decisions made by Facebook regarding consensus algorithms. A must-listen for anyone curious about the future of crypto design!
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Bitcoin ASIC Discovery
- Tarun Chitra first learned about Bitcoin in 2011 while working at D.E. Shaw Research.
- A Bitcoin ASIC manufacturer outbid their chip order, delaying their project.
Return to Crypto
- Chitra mined Bitcoin, witnessed the 2013 crash, and sold his holdings out of fear.
- He later returned, drawn by academic papers on blockchain security and the rise of financial sophistication in crypto.
User Behavior Modeling
- Gauntlet models user behavior by starting with simple, interpretable models like linear regressions.
- They refine these models iteratively using publicly available blockchain data to better reflect actual user behavior.
