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Alkimiya: Blockspace, the Digital Real Estate - Leo Zhang
Aug 17, 2024
Leo Zhang, an expert in blockchain technology and digital real estate, discusses the emergence of a marketplace for blockspace as the crypto industry matures. He shares insights on the dynamics of reserving blockspace to mitigate rising costs during high demand. The conversation also highlights the evolution of transaction fees, the competitive landscape of blockchain mining, and innovative solutions like ‘Paymasters’. Leo emphasizes the significance of proposer-builder separation and explores the current market sentiment surrounding ETH and Solana.
53:10
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Quick takeaways
- Alkimia aims to create a marketplace for transaction fees, allowing service providers to hedge against fee volatility and ensure cost stability.
- As the crypto market matures, sophisticated participants are driving the demand for effective risk management solutions similar to those in traditional finance.
Deep dives
The Universal Nature of Fees in Blockchain
Fees are a constant factor in blockchain transactions, regardless of the complexity involved. Whether it's a simple wallet transfer, NFT minting, or capturing multi-block miner extractable value (MEV), all participants compete for the same limited resources. Resource supply is inelastic and does not scale with the ever-changing demand, making it a market-oriented problem. This inherent nature of fees suggests a universal need for systems that can effectively manage and predict transaction costs.
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