Ethereum Audible

A lot has been argued about whether crypto is or isn't an inflation hedge over the past few months.

IMO the answer is clear: for any realistic time horizon, yes it is. But to understand why, we need to zoom out and dive into what inflation is and how an inflation hedge acts.

Let's explore inflation, Bitcoin and Ethereum.

"So beyond a token, how can web3 protocols and companies build competitive moats that help them capture part of the value they’re creating?

Below is a ‘five power’ framework on moats that web3 projects can utilize, beyond tokens."

As always, you can support the show by supporting and subscribing to Alpe Audio: 👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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The playbook for competitive moats for traditional companies has already been written. Hamilton Helmer’s ‘7 Powers’ has emerged to be a popular favorite, but other frameworks abound.

But in web3 it's more complicated. Here is a framework for web3 moats that builders should be aware of.

For the full article: https://thewizardstower.com/how-to-build-a-moat-in-web3

Connect with Yehoshua on Twitter: https://twitter.com/yehoshzl

Today I'm diving deep into the oracle problem with probably the most qualified person out there: Nick Fett, CTO of Tellor protocol.

Tellor is a decentralized oracle protocol aimed to help Ethereum based projects solve the oracle problem. As we discuss, the oracle problem is a tough nut to crack, especially in a decentralized manner. It opens up protocols to a whole host of other issues, risk vectors and attack surfaces that developers, builders and investors need to be aware of. 

This was a fantastic conversation which I enjoyed thoroughly, and Nick schooled me on a lot of topics.

Links and resources:

Nick on Twitter: https://twitter.com/themandalore9

Tellor on Twitter: https://twitter.com/WeAreTellor

The future of Money by Bernard Lietaer

As always, you can support the show by supporting and subscribing to Alpe Audio: 👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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"With 'The Merge' coming, up to 64 million total ETH will be available to be staked and become activated within one year. Lido’s size and network effect gives them a major advantage in absorbing this potential inflow as well."

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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Today we're diving into the Lido centralization debate, a risk factor to PoS Ethereum. Lido is a staking protocol that lets people with less than 32 ETH to stake under one of Lido's node. In return for your Eth, you also get their derivative token - stETH, which can be used in a variety of DeFi use cases. Lido control ~25% of Ethereum PoS nodes - is this a risk to Ethereum consensus? Let's give this article by suresats.com a read.

For the full article: https://www.suresats.com/post/ethereum-s-centralization-dilemma-through-lido-staking 

BFT, aka Byzantine Fault Tolerance, is a key part of distributed systems consensus mechanisms. As we approach The Merge and discussions heat up about Proof of Work vs Proof of Stake, I thought it would be a good time to go back to basics and discuss a core part of any consensus mechanism.

"We additionally show that high fees paid for priority transaction ordering poses a systemic risk to consensus-layer security. We explain that such fees are just one form of a general phenomenon in DEXes and beyond—what we call miner extractable value (MEV)—that poses concrete, measurable, consensus-layer security risks. We show empirically that MEV poses a realistic threat to Ethereum today."

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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Today we're reading through part one of the Flashboys 2.0, the seminal piece of research that introduced the concept of MEV. This readthrough is slightly different as the complexity of the paper required me to stop and offer explainers throughout. MEV is a concept that is critical to understand as it poses consensus layer risks to Ethereum 2.0 and opens up attack vectors which we'll be exploring in future read throughs.

The full paper can be read here: https://arxiv.org/pdf/1904.05234.pdf

The merge is coming!

Don't believe the FUD, things are happening and this blockchain bite, a read of Anthony Sassano's Daily Gwei newsletter is a little primer on the status of the merge.

You should subscribe to the Daily Gwei: https://thedailygwei.substack.com/

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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"We additionally show that high fees paid for priority transaction ordering poses a systemic risk to consensus-layer security. We explain that such fees are just one form of a general phenomenon in DEXes and beyond—what we call miner extractable value (MEV)—that poses concrete, measurable, consensus-layer security risks. We show empirically that MEV poses a realistic threat to Ethereum today."

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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Today we're reading through part one of the Flashboys 2.0, the seminal piece of research that introduced the concept of MEV. This readthrough is slightly different as the complexity of the paper required me to stop and offer explainers throughout. MEV is a concept that is critical to understand as it poses consensus layer risks to Ethereum 2.0 and opens up attack vectors which we'll be exploring in future read throughs.

The full paper can be read here: https://arxiv.org/pdf/1904.05234.pdf

"As in normal economics, the two forces we are most interested in are Supply and Demand. Understanding how those are baked into the tokenomics give us a good sense of how desirable a given token or cryptocurrency should be."

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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Today's readthrough starts a 'back to basics' approach to crypto tokenomics and token design. Nat Eliason is the tokenomics designer of Crypto Raiders, a popular web3 game (Diablo meets blockchain) where he's been the architect of the on and off chain economy. This readthrough starts with the basics of token design and thinking about supply vs demand.

Original post: https://every.to/almanack/tokenomics-101

Follow Nat on Twitter:  https://twitter.com/nateliason

Today is a special episode! We're diving deep into the Liquity protocol with a guest: Robert Lauko, the co-founder of the protocol.

Liquity is a great case study in everything we've been discussing these past few months:

- The importance of decentralization

- Immutability vs governance

- DeFi risks and trade offs.

I really enjoyed this conversation and hope you will as well.

Resources:

Liquity protocol docs and information: https://www.liquity.org/

Follow Robert on Twitter: https://twitter.com/robert_lauko

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👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1

This episode is brought to you by Alpe Audio. Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources.

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