Ethereum Researcher Justin Drake and Solana's Co-Founder Anatoly Yakovenko debate Ethereum vs. Solana, discussing design decisions, global shared state, data availability, blockchain architecture, block building strategies, financial aspects, economic security, and transaction throughput trade-offs in a spicy and informative episode.

Justin Drake, an Ethereum researcher known for his innovative work on Based Rollups, joins the discussion about the future of Ethereum. He explains how these rollups could revolutionize the Ethereum ecosystem, enhancing interoperability and reducing fragmentation in DeFi. The conversation delves into the mechanics of shared sequencing and real-time proving, as well as the economic implications for Ether and competition with other platforms. Drake's insights spark hope for a more efficient and interconnected blockchain landscape.

A lot has changed since our previous "Bull Case for Ethereum” episode. Our fourth installment comes at one of the most pivotal moments in crypto's history. The industry is still reeling from the collapse of FTX and macro uncertainty looms. But with the merge behind us and so much to look forward to on the Ethereum roadmap it's still hard not to be bullish. What's 2023 going to look like? Justin Drake, DC Investor, and Anthony Sassano give us their bull case for the new year and beyond. ------ 📣 Kraken | The Crypto Exchange for Everyone http://k.xyz/bankless-pod  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/?utm_source=banklessshowsyt  🎙️ SUBSCRIBE TO PODCAST: https://availableon.com/bankless  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN https://bankless.cc/Deso  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  📡 TRUEFI | CRYPTO FINANCIAL HUB https://bankless.cc/TrueFi  👾 SEQUENCE | ALL-IN-ONE PLATFORM https://bankless.cc/Sequence  ⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/fuel  ------ Topics Covered 0:00 Intro 7:09 Ethereum’s Original Promises 13:02 Promise Critiques 14:55 2022 Sentiment 27:41 ETH’s Risk to Reward Justification 35:58 ETH 2018 vs. Now vs. SOL 49:39 Bullish Ethereum Roadmap 55:05 EVM & zkEVM Concerns 1:00:07 MEV & Censorship 1:04:13 Post-Quantum 1:08:29 Zooming Out on the Roadmap 1:18:27 Market Opportunity 1:40:10 Timeline 1:44:30 What DCinvestor is Doing 1:48:28 Sassal’s Closing Thoughts 1:51:41 Closing & Disclaimers ------ Resources: Justin Drake https://twitter.com/drakefjustin  DC Investor https://twitter.com/iamDCinvestor  Anthony Sassano https://twitter.com/sassal0x  Bull Case for Ethereum l - https://youtu.be/6v2VRvxbfnw  ll - https://youtu.be/85M3yGvzCe4  lll - https://youtu.be/wVVfYuUsPu4  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

What are the implications of restaking? Not every Bankless listener will be prepared for this conversation. This one is a hard one. If you want to be adequately equipped for the conversation that awaits, we recommend listening to the Bankless episode we did with Sreeram a few weeks ago. That episode will get you up to speed to understand some of the nuances and problems that are discussed in today’s episode.  Because, today on the show, we have the largest and most gigabrain panel that we’ve ever had on Bankless…Vitalik Buterin, Justin Drake, Dankrad Feist, Jessy (aka 13-year-old VC - that’s her pseudonym), and of course… Sreeram Kannan himself, founder of Eigenlayer and perhaps the creator of restaking…all moderated by Tim Beiko!  ------ 🚀 Unlock $3,000+ in Perks with Bankless Citizenship 🚀 https://bankless.cc/GetThePerks  ------ 📣 CYFRIN | Smart Contract Audits & Solidity Course https://bankless.cc/cyfrin  ------ BANKLESS SPONSOR TOOLS:  🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2  🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask   ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum   🧠 AMBIRE | SMART CONTRACT WALLET https://bankless.cc/Ambire  🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  ----------- TIMESTAMPS 0:00 Intro 4:45 Setting the Panel 8:51 Jessy’s Restaking Thoughts 10:20 Justin’s Restaking Perspective 11:40 Dankrad’s Restaking Views 12:30 Sreeram’s Restaking Arguments 14:00 Why Justin is a Restaking Doomer 18:30 EigenLayer’s Restaking Architecture  22:05 Restaking Builder Hooks  25:05 Vitalik’s Restaking Concerns   30:05 EigenLayer’s Acceleration 32:50 Sreeram Addressing Vitalik’s Concerns 37:48 Ensuring Restaking is Aligned  46:04 Reputation Systems & Alignment  51:35 Ethereum Protocol Complexity  59:00 Credible Neutrality  1:03:30 MEV Boost & PBS  1:07:10 One Shot Signatures  1:09:10 Closing Thoughts, Arguments, & Next Steps 1:16:30 Closing & Disclaimers ----------- RESOURCES Sreeram Kannan  https://twitter.com/sreeramkannan  https://youtu.be/HcEGXoC57Rw  Vitalik Buterin https://twitter.com/VitalikButerin  Tim Beiko https://twitter.com/TimBeiko  Justin Drake https://twitter.com/drakefjustin  Dankrad Feist https://twitter.com/dankrad Jessy https://twitter.com/13yearoldvc   ----------- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

This week on The Defiant podcast we speak with Justin Drake. Justin is a researcher for the Ethereum foundation. He’s at the forefront of the biggest change to happen in Ethereum's history: The transition from Proof of Work to Proof of Stake, also known as The Merge. We go into what the next steps are before this change happens, how exactly it will be executed, and what the risks are. Last week, right after we recorded this interview, fellow researcher Tim Beiko suggested the switch would happen in September. Thanking our podcast sponsors: 1inch is a DEX aggregator that finds the best rates across multiple networks. Why use a single DEX when you can use them all? Find your best deal at 1inch. Web3 with a16z, a new podcast about the next internet, from a16z crypto 0x/Matcha makes sure you’re getting the best possible price by routing trades over various DEXs, without taking commissions. Head over to matcha.xyz/defiant.

Justin Drake, a researcher at the Ethereum Foundation, and Martin Köppelmann, co-founder of Gnosis, dive into the evolution and challenges facing Ethereum. They debate the merits of native versus based rollups and discuss Ethereum's potential shift to maintenance mode. Justin shares his optimism for scaling pre-confirmations, while Martin critiques Ethereum's focus on developers. The conversation also tackles fragmentation issues and the implications for Ethereum's status in a landscape increasingly dominated by rivals like Solana.

Brian Retford, CEO of RiscZero, and Justin Drake discuss the creation of zkEVM for Ethereum with low compute requirements, potential implications for Ethereum's future, snarks and data availability sampling to remove computation bottleneck, RISC-V as an instruction set architecture, performance optimization of zkEVM, and risks and security considerations in the ZK roll-up space.

Justin Drake, a prominent researcher at the Ethereum Foundation, dives deep into his ambitious Beam Chain proposal, which he presented at Devcon. He discusses the mixed reactions it received and explores Ethereum's strategy in its competitive landscape—facing off against Solana, Celestia, and Bitcoin. The conversation also touches on the unique advantages that Ethereum holds, the importance of community engagement, and the need for innovative solutions to enhance scalability and efficiency in the ever-evolving crypto ecosystem.

Justin Drake, a key figure in the Ethereum community, shares his insights following his talk at Devcon Bangkok. He discusses the significant role of Beamchain in the Ethereum roadmap. Exciting advancements in Ethereum Layer 1's execution, data, and consensus are highlighted, along with user feedback on fragmentation and scalability. Drake also emphasizes the rapid development in Mantle Layer 2 and its unique EigenDA architecture, showcasing how these innovations can enhance DeFi and trading experiences.

Ethereum is getting yet another economic upgrade! The scarcity engine is getting a massive level up with the advent of the MEV Burn. With Justin Drake and Domothy, they walk us through the research and reasoning behind this next upgrade Just when we thought we couldn’t get any more bullish… ------ 🚀 DEBRIEF 🚀 https://bankless.cc/YouTubeInfo ------ BANKLESS SPONSOR TOOLS:  📣 SAFE (Gnosis) | ACCOUNT ABSTRACTION https://bankless.cc/AA  ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://bankless.cc/kraken  🧠 AMBIRE | SMART CONTRACT WALLET https://bankless.cc/Ambire  👻 PHANTOM | FRIENDLY MULTICHAIN WALLET https://bankless.cc/phantom-waitlist  🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask  ------ Topics Covered 0:00 Intro 7:00 What is MEV? 13:30 MEV is Subjective 17:15 The Oil Analogy 21:15 The Benefits of Smoothing 28:35 Builders and Proposers 38:45 Forced Centralization 44:35 Rug Pool Protection 48:30 Distribution 58:20 Pros of Burning 1:05:15 Burning on Overdrive 1:09:30 Does this Hurt Stakers? 1:13:55 Too Deflationary? 1:23:30 Monetary Premium 1:28:15 EIP-4844 1:31:00 The Engine 1:35:50 Wen? ——— Resources: Justin Drake: https://twitter.com/drakefjustin?s=20  Dom: https://twitter.com/domothy?s=20  Hildobby's Dune Board: https://dune.com/hildobby/eth2-staking  Ultrasound.Money: https://ultrasound.money/  ------ Related Episodes: EIP-1559: https://www.bankless.com/-eip-1559-hasu  https://www.bankless.com/-eip-1559-expert-panel-tim-beiko  MEV: https://www.bankless.com/-cryptos-existential-threat-mev-panel  https://www.bankless.com/125-matt-cutler  Ultra Sound Money: https://www.bankless.com/-sotn-44-modeling-ultra-sound-money  https://www.bankless.com/-ultra-sound-money-justin-drake  https://www.bankless.com/-moon-math-the-bull-case-for-cryptography  Justin Drake:  https://www.bankless.com/134-ethereum-unsensored-with-justin  https://www.bankless.com/shanghai-capella-eth-staking-withdrawals-with-tim-beiko-justin-drake-and-anthony-sassano  https://www.bankless.com/150-bull-case-for-ethereum-iv-with-justin-drake-dcinvestor-anthony-sassano  https://www.bankless.com/devcon-2-justin-drake  https://www.bankless.com/15-bad-eth-takes-with-justin-drake  https://www.bankless.com/the-pow-vs-pos-debate-lyn-alden-and  https://www.bankless.com/-layer-zero-justin-drake  ---- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures