Jing Wang, CEO of Optimism Foundation, and a16z crypto CTO Eddy Lazzarin discuss open-source software, governance challenges, importance of shipping products, and the vision behind the 'superchain'. They delve into attracting chain governors, retroactive public goods funding, layer 2 scalability, business models evolution, execution challenges, foundation establishment, and power of vibes in building decentralized networks.
Open-source software reveals cohesion incentives, governance challenges, and balance between customization and standards.
Vision of Superchain requires uniformity for fault-provability, interoperability, and balancing standardization with experimentation.
Deep dives
Benefits of Putting Code into Production
Actively deploying code into production in front of users is crucial as it immediately validates or invalidates numerous strategic hypotheses, emphasizing the significance of practical implementation over endless theoretical discussions.
Nuances of Open-Source Software
Discussions on open-source software reveal the cohesion incentives that unite contributors, the trade-offs between customization and standardized protocols, and the complexities in establishing and managing a foundation, highlighting the importance of governance, collaboration, and adapting amidst open-source peculiarities.
Challenges and Considerations in Building the Superchain
The vision of a horizontally scalable world computer, the Superchain, necessitates stringent uniformity standards for fault-provability and interoperability across chains within the Superchain. While allowing some experimentation at the edges, balancing the need for standardization with the desire for customization poses ongoing challenges in developing a cohesive and efficient network.
Role of Sequencers in Revenue Generation
Sequencers play a pivotal role in the Superchain ecosystem by setting transaction fees, enabling revenue generation, and providing reliability in block sequencing akin to TAs grading assignments. The ability to balance transaction costs, profitability, and network security underscores the intricate dynamics of incentivizing network participants and ensuring efficient operations.
Reflecting on the Impact of Protocol Upgrades and Governance Decisions
The podcast delves into the impact of protocol upgrades and governance decisions in the world of blockchain technology. It highlights the significance of implementing changes based on actual user feedback and the value of putting new code into production to validate hypotheses. The discussion emphasizes the importance of balancing strategic debates with practical implementation to achieve tangible results and enhance user experience. The insights shared underscore the iterative nature of development in adapting to user needs and evolving market dynamics.
Navigating Foundation Establishment and Governance Strategies
The episode explores the complexities of establishing and managing foundations in the crypto space. It discusses the key considerations in selecting individuals to run foundations, emphasizing alignment with project goals and accountability to the community. The conversation touches on the evolving role of foundations in advocating for protocols independently of companies, highlighting the need for clear governance structures and mechanisms for community participation and oversight. Insights on setting up foundations and ensuring transparency and alignment with community values are shared to navigate potential challenges and foster sustainable growth.
Hello and welcome to web3 with a16z, a show about building the next era of the internet by the team at a16z crypto, that includes me, host Robert Hackett.
Today’s episode features Jing Wang, CEO and executive director of the Optimism Foundation, along with a16z crypto CTO Eddy Lazzarin. We discuss the peculiarities of open source software — including the incentives that bind contributors together, tradeoffs between the freedom to customize versus sticking to standards, and the challenges in setting up and running a foundation
We also cover the nuances of governance and accountability, the importance of vibes, the indispensability of shipping products (versus debating roadmaps), and, the vision behind the so-called “superchain”.
As head of the Optimism Foundation, Wang helps stewards the Optimism collective — a band of decentralized companies, communities, contributors, and others who are using a suite of open source software – called the OP Stack — to scale the Ethereum blockchain network. The OP Stack also powers a number of popular "layer two" rollups — including Base, which we covered in last week's episode with its creator and lead, Coinbase’s head of protocols Jesse Pollak.
As a reminder none of the following should be taken as tax, business, legal, or investment advice. See a16zcrypto.com/disclosures for more important information, including a link to a list of our investments.
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