Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
Is Binance Smart Chain Being Run 'Like the Project of a Stoned Teenager?' Two BSC Execs Answer
Binance Smart Chain is the third largest chain by TVL and its token, BNB, is the third-largest token by market capitalization. However, there are questions about hacks, centralization, lack of developer support, and sketch MEV transactions. On Unchained, Gwendolyn Regina, investment director of the Binance Smart Chain Growth Fund, and Samy Karim, ecosystem coordinator at Binance Smart Chain, give a candid interview discussing BSC, from its amazing growth in 2021 to some of the toughest questions surrounding the chain. Topics covered include:
how and why BSC grew from 50,000 daily active users to about 7 million over the course of 2021 what differentiates Binance Chain and Binance Smart Chain why Binance Smart Chain decided to design its blockchain with only 21 validators how Gwen and Samy envision BSC fitting into a multichain future what plans BSC has to scale its throughput why blockchain gaming is so important to BSC and how it will use its $1 billion growth fund to grow the gaming aspect of the chain how BSC’s relationship between Binance and BNB works In the second half of the show, Sam and Gwendolyn respond to a few critiques, such as:
is BSC really innovating, or is it just a copy and paste blockchain of Ethereum? why are there so many failed transactions on BSC? how is BSC addressing the numerous hacks on the blockchain? why has BSC’s share of total value locked among smart contract blockchains fallen from 20% in May to 6%? how is BSC attempting to help developers, who, according to some critical posts, are struggling to work with BSC? why does it appear that some validators are front running without risk? does BSC have a future if Ethereum scales? what does BSC have planned for 2022? Thank you to our sponsor!
Beefy Finance: https://beefy.finance
Alchemy Pay: https://alchemypay.org
Twitter: https://twitter.com/gwendolynregina?lang=en Website: https://www.gwendolynregina.com/
LinkedIn: https://www.linkedin.com/in/samsulkarim/ Twitter: https://twitter.com/cryp7omaxi
Binance Smart Chain
Website: https://www.binance.org/en Documentation: https://docs.binance.org/index.html Binance Validator Reqs: https://academy.binance.com/en/articles/a-quick-guide-to-bnb-staking-on-binance-smart-chain-bsc Whitepaper: https://dex-bin.bnbstatic.com/static/Whitepaper_%20Binance%20Smart%20Chain.pdf
Binance 2021 Recap
Top BSC apps: https://dappradar.com/rankings/protocol/binance-smart-chain
“Stoned teenager:” https://github.com/binance-chain/bsc/issues/553 NullQubit: https://github.com/binance-chain/bsc/issues/658 Other Larry Cermak: https://twitter.com/lawmaster/status/1359426876440207361 Wilson Withiam: https://twitter.com/WilsonWithiam/status/1381420702918664194 Ryan Watkins: https://twitter.com/RyanWatkins_/status/1381421858675953665
Nansen: https://www.nansen.ai/research/the-binance-smart-chain-scalability-in-action Bison Trails: https://bisontrails.co/guide-to-bsc/ Decrypt: https://decrypt.co/58654/how-binance-put-the-smarts-in-its-smart-chain https://decrypt.co/57420/binance-smart-chain-is-starting-to-rival-ethereum-heres-why Messari (Pro): https://messari.io/article/exploring-the-binance-smart-chain-ecosystem Galaxy Digital: https://docsend.com/view/tdgbf4sfmyd7sr3m
Twitter questions I received about Binance Smart Chain
Why Are NFTs the One Bright Spot in the Crypto Markets? - Ep.309
Avid NFT collector Aftab Hossain (aka @iamDCinvestor on Crypto Twitter) discusses why OpenSea and NFT volumes are popping to start 2022, how LooksRare’s vampire attack is a good thing for the NFT market, and how royalties affect a project’s trading potential. Show topics:
why Aftab thinks NFT floor prices are rising and what role NFT “flippers” have to do with his theory whether the NFT industry could continue growing even if fungible crypto assets enter a bear market how the LooksRare vampire attack on OpenSea works why people are wash trading NFTs on LooksRare why Aftab would choose to list NFTs on LooksRare over OpenSea whether LooksRare’s vampire attack will force OpenSea to decentralize and/or tokenize what sort of NFT projects should have royalties… and which projects shouldn’t Thank you to our sponsors!
LooksRare vampire attack + wash trading: https://decrypt.co/90317/ethereum-nft-market-looksrare-wash-trading https://www.coindesk.com/tech/2022/01/11/one-day-after-launch-opensea-competitor-looksrare-sells-over-100m-in-nfts/ LooksRare: https://twitter.com/LooksRareNFT LooksRare vs OpenSea data: https://dune.xyz/hildobby/LooksRare-VS-OpenSea
NFT volume to start the year: https://cryptopotato.com/opensea-records-over-2-billion-in-trading-volume-early-in-2022/ OpenSea metrics: https://dune.xyz/rchen8/opensea Fred Ehrsam tweet: https://twitter.com/FEhrsam/status/1370414944265572353 The Chopping Block: https://unchainedpodcast.com/the-chopping-block-why-the-crypto-markets-have-been-down-this-week/ Nas NFTs: https://decrypt.co/89881/rap-legend-nas-sells-2-songs-as-nfts-on-dj-3laus-royal-platform https://www.theblockcrypto.com/linked/130123/3lau-backed-platform-royal-crashes-during-first-music-nft-drop-mint-delayed OpenSea IPO rumors: https://decrypt.co/87701/opensea-ipo-criticism-crypto-ethereum-token SushiSwap vampire attack: https://www.theblockcrypto.com/post/76419/uniswap-fork-sushiswap-700-million-total-value-locked
The Chopping Block: Why the Crypto Markets Have Been Down This Week
The Chopping Block is back! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. Show topics:
why crypto assets experienced a drawdown after last week’s FOMC meeting that hinted at accelerated rate hikes which emerging assets Tarun, Haseeb, and Tom envision weathering a bear market which assets could be further hurt by a continued bear market the significance of Paradigm and Sequoia investing in Citadel Securities what aspects of Signal CEO Moxie Marlinspike’s web3 article Haseeb, Tom, and Tarun take umbrage with whether Cryptoland is crypto’s Fyre Festival or whether it’s the metaverse what the heck is going on with the Pudgy Penguins community the lessons from the CFTC’s fine of Polymarket (disclosure: a former sponsor of my shows)
Haseeb Qureshi, managing partner at Dragonfly Capital https://twitter.com/hosseeb Tom Schmidt, general partner at Dragonfly Capital https://twitter.com/tomhschmidt Tarun Chitra, managing partner at Robot Ventures https://twitter.com/tarunchitra
FOMC = Crypto assets dip https://www.ar.ca/blog/debunking-more-overreactions-to-macro-a-ronin-case-study Paradigm + Sequoia invest in Citadel Securities https://www.coindesk.com/business/2022/01/11/paradigm-sequoia-to-invest-115b-in-citadel-securities-bringing-trading-firm-closer-to-crypto/ Cryptoland https://thenextweb.com/news/welcome-to-cryptoland-real-island-cryptocurrency-fans-analysis Moxie Marlinspike’s first impressions of web3 https://moxie.org/2022/01/07/web3-first-impressions.html Pudgy Penguins drama https://thedefiant.io/fire-on-the-iceberg-pudgy-penguin-holders-eye-coup-amid-acquisition-talks/ Polymarket fined by CFTC https://www.coindesk.com/policy/2022/01/03/cftc-fines-crypto-betting-service-polymarket-14m-for-unregistered-swaps/
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Kristin Smith, executive director at Blockchain Association, and Jake Chervinsky, head of Policy at Blockchain Association, discuss the current state of crypto regulation. Show topics:
why 2021 was a watershed year for crypto regulation and lobbying why Jake decided to move from Compound Labs to Blockchain Association what Kristin and Jake think about the current state of regulation in the crypto industry how crypto education will play a significant role in Blockchain Association efforts going forward how crypto will affect midterm elections why Kristin thinks crypto will not be a partisan issue long term what sort of budget Blockchain Association functions on what Kristin and Jake think about the President’s Working Group report on stablecoins why Jake does not think the US should issue a CBDC what Blockchain Association’s take is on SEC commissioner Hester Peirce’s “safe harbor” proposal why Kristin and Jake believes the idea of a “crypto czar” is not feasible how regulators are treating DeFi going into 2022 how crypto tax guidelines could be improved for centralized exchanges how Blockchain Association thinks tax code 6050I should be applied what issues could arise from DAOs in 2022+ what listeners can do to address the different regulatory topics discussed in this podcast Thank you to our sponsor!
Jake Chervinsky: https://twitter.com/jchervinsky Kristin Smith: https://twitter.com/kmsmithdc Previous Unchained appearances: https://unchainedpodcast.com/everything-you-need-to-know-about-the-looming-battle-over-privacy-in-crypto/ https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/ https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/ https://unchainedpodcast.com/why-is-the-proposed-fincen-rule-for-unhosted-wallets-being-pushed-so-quickly/ https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/ https://unchainedpodcast.com/what-the-crypto-industry-could-see-under-a-biden-administration/ https://unchainedpodcast.com/when-is-a-token-decentralized-enough-to-not-be-a-security-ep-056/
The Blockchain Association
Website: https://theblockchainassociation.org/ Twitter: https://twitter.com/BlockchainAssn 2021 growth: https://theblockchainassociation.org/crypto-industrys-leading-trade-association-more-than-doubles-membership-in-2021/ Jake joining the team: https://www.politico.com/newsletters/politico-influence/2021/11/09/blockchain-association-fills-out-its-washington-team-with-seasoned-hands-798774
Regulatory Topics Discussed:
a16z https://a16z.com/2021/10/13/an-agenda-for-the-future-of-the-internet/ Tax Code 6050i https://www.coincenter.org/congress-takes-its-war-on-cash-to-digital-assets/ https://unchainedpodcast.com/not-reporting-info-on-some-transaction-partners-could-soon-be-a-felony/ Infrastructure Bill https://twitter.com/jerrybrito/status/1461317078175072263 President’s Working Group stablecoin report https://www.coindesk.com/policy/2021/11/01/biden-administration-to-congress-put-stablecoins-under-federal-supervision-or-we-will/ FATF Guidance https://twitter.com/coincenter/status/1453700485484097537
Articles Jake Mentioned
Jake on CBDCs: https://www.coindesk.com/layer2/2021/12/21/secure-americas-financial-strength-with-stablecoins-not-central-banks/ Gabriel Shapiro on DAOs: https://lexnode.substack.com/p/wyomings-legal-dao-saster Morgan Harper thread: https://twitter.com/mh4oh/status/1463219384776806402
General Regulatory Information
Messari Crypto Theses pages 52-90 is an excellent summary of EVERYTHING going on in crypto regulation Page 29 talks about Kristin directly Page 56 talks about blockchain association directly https://messari.io/pdf/messari-report-crypto-the
65% of Active Developers Joined Web3 in 2021
Electric Capital’s Maria Shen dives into her company’s recently published research report about Web3 open-source development in 2021 and shares her thoughts and insights on how developers are flocking to Web3 in a manner that goes far beyond just Bitcoin and Ethereum. Show topics:
Maria’s biggest takeaways from the Electric Capital Developer Report how developer growth is affected by asset price which ecosystems are growing fastest why Maria thinks the growth in Bitcoin development has slowed down why Maria is so impressed by Ethereum’s performance in terms of retaining developers how closed-source development on, for example, Solana or Flow could affect the report’s findings the significance of Polkadot, Solana, NEAR, Binance Smart Chain, Avalanche, and Terra growing faster than Ethereum did at similar points in its history developer growth in DeFi during 2021 why Electric Capital did not study developer growth for NFTs, DAOs, or gaming why Maria is so interested in studying community growth going forward what Maria will be watching for in 2022 Thank you to our sponsors!
https://twitter.com/MariaShen Previous Unchained appearance: https://unchainedpodcast.com/electric-capital-on-the-coins-punching-below-their-weight/
Electric Capital Developer Report (2021)
https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d Previous reports: https://medium.com/electric-capital
Crypto 2022 Outlook: Where Will the Markets Go This Year? Plus DeFi and NFTs
Larry Cermak, VP of research at The Block, and Igor Igamberdiev, director of research and data at The Block, recap the most significant trends of 2021 (BTC mining, L1s, NFTs, DeFi, venture funding) and discuss what might happen in 2022. Show topics:
why 2021 was so significant for the crypto industry why the crypto markets didn’t see a blow-off top at the end of the calendar year the way they typically do about a year after a Bitcoin halving what Larry thinks about whether the crypto market is in a supercycle how the state of BTC and ETH mining changed in the past year why Igor thinks multichain technology was key to a record-breaking year for venture capital entering the crypto space in 2021 how the layer 1 (L1) ecosystem wars played out in 2021 and what it could look like in 2022 what Larry and Igor think of Ethereum layer 2s (L2s) how Ethereum’s shift to 2.0 could affect the L1 race what Larry thinks about DeFi tokens going into 2022 how DeFi trends, like decentralized exchange volume and lending, played out in 2021 why Igor thinks KYC-DeFi (know-your-customer decentralized finance) is inevitable what Larry thinks about NFTs going in 2022 and why he thinks PFPs are dead Larry and Igor’s outlook on the metaverse going into the new year Thank you to our sponsors!
Larry Cermak: https://twitter.com/lawmaster Igor Igamberdiev: https://twitter.com/FrankResearcher
The Block’s 2022 Digital Asset Outlook Report
Great to have a journalist so business focused and well connected. Amazing guests and amazing contents.
Great to have you now once a week.
Me encanta poder escuchar las opiniones de tantas personalidades del mundillo de las criptodivisas.