Coinbase: Around The Block The Multichain World
Nov 24, 2021
Explore the complexities of the multichain world where many different blockchains coexist. Discover the blockchain trilemma and why achieving decentralization, security, and scalability is such a challenge. Learn how different layer one blockchains compete and the importance of developer activity for ecosystem vitality. Delve into layer twos and how they propose to scale Ethereum while facing trade-offs in composability. Are we headed towards a multichain future or will a few winners dominate? Tune in for insights and intriguing discussions.
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Friend Asks 'What Are All These Coins?'
- Catherine describes friends downloading Coinbase and asking what all the tokens mean, highlighting confusion between tokens and underlying protocols.
- She uses that real-world example to motivate explaining blockchains vs tokens for listeners.
What Layer One Means
- Layer one blockchains are independent base networks that let developers build applications on top of them.
- Examples include Ethereum, Solana, Polkadot, and Cosmos and they serve as the foundational infrastructure.
The Blockchain Trilemma Explained
- The blockchain trilemma states a chain can’t maximize decentralization, security, and scalability simultaneously.
- Projects typically pick two, which shapes design trade-offs and use cases.