Unlayered

Kel (@kelxyz_) is a researcher at Messari who recently dropped an amazing 30-page report (and awesome summary thread) on Solana. Sal and Dave chat with Kel about what he sees in Solana that others may have overlooked. Specifically, the trio cover the shifting narrative that has more people believing in the Solana ecosystem than ever before. Topics covered throughout the interview include Solana’s state compression, how to quantitatively judge SOL vs ETH performance, the class of users that crypto ultimately needs to support, and what consumer crypto applications should focus on (among other topics).

(0:14) - Experiencing IRL Solana events

(6:25) - Quantitative comparison of Sol Vs Eth 

(16:13) - Recency bias

(21:11) - NFT compression unlocks

(27:34) - Blockchain ecosystem taxonomy 

(30:15) - Valuing an L1 

(35:36) - Which apps will lead the next bull market

(45:16) - Imagining web 3 social protocols

(55:37) - Looking ahead

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

Follow Kel: https://twitter.com/kelxyz_

Kel’s Solana Report: https://twitter.com/kelxyz_/status/1673725589876797441?s=20

Follow Messari: https://twitter.com/MessariCrypto

Sal and Dave chat with Michael (@fxnction) about his journey towards growing a sizable Twitter following on two separate accounts across two separate crypto cycles. Michael has a knack for knowing what will go viral on Twitter and isn’t afraid to be first. The trio chat about the future of social media, why NFTs matter, lessons from getting hacked, how to diligence projects, and a litany of other topics. Michael keeps a close pulse on everything happening in the depths of crypto Twitter and generously shares a treasure trove of wisdom throughout this conversation.

(1:07) - How crypto can transform the music industry

(8:45) - Crypto and AI

(12:06) - Social trends and speculation

(18:57) - Taking personal responsibility around security

(31:07) - Failings of the fiat system

(37:22) - The utility of NFTs

(51:02) - Crypto clout 

(55:32) - Due diligence on new projects

(59:31) - Focusing on our spiritual side

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

Follow Fxnction : https://twitter.com/fxnction

Roast Him Jim : https://twitter.com/RoastHimJim

Kevin (@zen_llama) is a former Apple (AirPods) and Solana Labs (Core) engineer. Kevin joins Sal & Dave in bringing his unique insight as a protocol engineer with experience across multiple blockchain ecosystems (ETH, Solana, Monad, and others) to provide a concrete explanation into why these different approaches exist and how they differ. Some interesting topics we discuss include: the key components of a blockchain, why multithreading matters for scalability in blockchains, Ethereum vs EVM Chain vs non-EVM Chain (like Solana), the advantages of scaling the EVM, how L2s differ from monolithic EVM chains (like Monad), and how Ethereum could one day be a multithreaded execution environment. While this is a longer and more technical episode than usual, there are tons of nuggets throughout our interview from the perspective of an engineer who’s been “chewing glass” for years. 

(1:16) - The issues with the scalability trilemma

(6:53) - Blockchains from first principles

(15:17) - The value add of blockchains

(22:03) - The flywheel effect

(26:40) - Design choices for blockchains

(29:57) - Storing blockchain history

(42:06) - Bandwidth as a bottleneck

(45:52) - Consensus and time to finality

(1:02:04) - Separation of state and data

(1:11:02) - Solana’s Runtime V2

(1:16:03) - Where Monad sits on the spectrum

(1:21:00) - Modular Vs Monolithic

(1:30:56) - Competition of a modular stack

(1:35:57) - Which chain will win

(1:42:53) - Why Solana posts votes on-chain

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

Follow Kevin : https://twitter.com/Zen_Llama

Vitalik’s Endgame Blogpost : https://vitalik.ca/general/2021/12/06/endgame.html

Sal and Dave are joined by Josh Rosenthal, a former historian and AI founder turned crypto investor. Josh presents an illuminating history lesson, detailing the catalysts and chaos as the Middle Ages transitioned into the Renaissance period - and highlighting the many parallels that crypto and AI are facing today with their own push for decentralisation and freedom of choice. Josh also delves into crypto’s ability to turn cost centres into revenue generators, and explores how that can help to unlock moats and disproportionately reward those within the long tail of society’s distribution curve. Check out the full episode for Josh’s uniquely historical perspective on the future of crypto and AI.

(1:12) - Josh’s path to crypto

(7:33) - Transition from Middle Ages to the Renaissance

(14:57) - Crypto as the next Renaissance

(17:28) - Pendulum shifts around centralisation

(24:24) - The American ‘Renaissance’

(33:25) - The urge to ban what’s new

(38:35) - Crypto turning the world into entrepreneurs

(41:21) - Crypto as a Business Model

(46:04) - Why have decentralised start ups struggled to take off

(58:13) - Crypto as an economic substrate for AI

(1:00:40) - Turning cost centres into revenue generators

(1:04:49) - Synthetic vs physical realms

(1:10:49) - Finding your tribe

(1:15:39) - Identity in a Web 3 world

(1:20:23) - Volatility as a feature

(1:23:08) - Using history to contextualise the moment

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

Follow Josh: https://twitter.com/JoshuaRosenthal

Sixth Event: https://Go6ixthEvent.com

Narwhal Ventures: https://GoNarwhalVentures.com

Sal and Dave are joined by Lamar, a TradFi early stage investor. Throughout this round table discussion, the trio dig deep into Layer 1 blockchain economics to better understand what they should be worth long-term. Key topics include 1.) how value accrues to these L1 tokens 2.) when is the right time to monetize 3.) how to appease both holders’ and users’ best interests and 4.) whether Metcalfe’s Law still applies to a modular blockchain stack. One common source of Solana FUD centers on how its economic design compares to other more established chains. Is there a world where SOL is in fact more likely to become money in the future? Check out the full episode to find out for yourself.

(0:14) - How to think about L1 assets

(5:53) - How and when to monetize Solana

(20:43) - The importance of LSDs for DeFi

(30:45) - How crypto gets users to interact with on-chain applications

(33:54) - The difficulties with valuing Layer 1 tokens

(42:04) - Money-ness properties of Solana

(46:33) - Key metrics for appraising different L1s

(53:07) - How Metcalfe’s Law will work in crypto

(59:10) - The inevitable commoditization of blockspace

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

Follow Lamar: twitter.com/DaliaLlamar

Valuing L1s: twitter.com/solbeachbum/status/1659977808880230406

Bottoms Up Sol Valuation: twitter.com/solbeachbum/status/1660604668332896258

Top Down Sol Valuation: twitter.com/solbeachbum/status/1668600382547718146

Swen (@Swen_sjn) is the CEO and Co-Founder of Light Protocol, an open-source zkLayer enabling private program execution on Solana. Throughout this interview, Dave and Sal leverage Swen’s expertise to better understand 1.) the importance of privacy on blockchains and 2.) the future of privacy on Solana specifically. In a world with an ever-expanding universe of zk execution environments, Swen is convinced that Solana is uniquely positioned to combine its incredible UX with the privacy guarantees enabled by Light Protocol.

(0:14) - Sal and Dave Opening Chat

(6:19) - A primer on ZK Tech

(13:43) - Light Protocol’s architecture

(20:04) - Building out a private NFT marketplace

(23:30) - Thinking around smart contract risks

(27:18) - What other new use cases does this make possible

(31:27) - Why this can be built on Solana’s L1, rather than an L2

(41:38) - Thinking about privacy and regulations

(44:26) - ZK landscape over next 5 years

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

https://twitter.com/Swen_sjn

https://twitter.com/LightProtocol

https://lightprotocol.com

Paul Bohm, Founder and CEO of Teleport, wants to decentralize Uber with crypto...and he just might be the first to actually do it. His ambitious vision for a rideshare protocol powered by Solana is only months away from launch. Throughout Sal and Dave’s discussion with Paul they learn why he chose to focus on the rideshare market, the benefits of building this as a protocol for others to use, and how Solana is uniquely capable to power this technology. While Teleport is initially focused on rideshare, the goal of this initiative is to demonstrate the power crypto has to break existing network effect moats held by rent-seeking incumbents with new incentive mechanisms powered by open-source technology and blockchains. Could Teleport capture 50% of the rideshare market in under 10 years? Check out the full episode to find out for yourself.

(0:39) - Sal and Dave Opening Chat

(6:26) - Building web 3 bridges, not web 2 moats

(15:36) - Why ride sharing market is ripe for disruption

(20:48) - How to fight against centralization risks

(25:29) - Go-To-Market strategy

(33:03) - Governance token use cases

(38:53) - Why US regulators love this business model

(45:22) - Trojan-horsing 100m new people into crypto

(52:38) - Why Teleport is building on Solana

(1:01:18) - Parallels and differences to the ICO business models from 2017

(1:08:41) - Team structure to pull this off

(1:09:51) - When launch?

(1:11:44) - How will the space develop in next 5-10 years

-    -

Podcast Resources

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-    -

Episode Resources

https://twitter.com/paulbohm

https://twitter.com/teleportxyz

https://dec.dev

https://trip.dev

https://teleport.xyz

Sal and Dave initially chat about one of the most exciting and important adoption vectors for crypto, Decentralized Physical Infrastructure Networks (DePIN). They subsequently sit down with Noah, Head of Protocol at Helium Foundation. Helium is one of the original DePIN projects and sits at the forefront of this movement in its quest to start a Wireless Revolution with token-incentivized, people-powered, wireless networks. They discuss a variety of topics including Helium’s initial vision, DAO/sub DAO structure, and why they moved over to Solana. Check out the full episode for the inside scoop.

(0:14) - Sal & Dave Opening Chat

(12:21) - Noah’s move from Strata to Helium

(21:10) - How to incentivize demand

(24:02) - Cost saving properties of Helium’s business model

(28:37) - The potential of IOT networks

(30:20) - Incentivization through tokenomics

(35:41) - Helium’s move to Solana

(52:11) - Rust Vs other programming languages

(57:11) - Future of Helium

-  -

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-  -

Episode Resources:

https://twitter.com/redacted_noah

https://twitter.com/helium

https://helium.com

Join hosts Sal and Dave as they engage in a captivating conversation about NFTs with the one and only Zedd Yin, Co-Founder and COO of Magic Eden. In this power-packed interview, they delve into a range of intriguing topics, including the origin story of Magic Eden, the intricacies of their multi-chain strategy, their view on the rise of Tensor, and their compelling vision for the future of NFTs as a whole.

Furthermore, they explore the buzzing excitement within the Bitcoin Ordinals ecosystem, contemplating the potential role of Solana as a future Layer 2 solution for the Bitcoin network. With Zedd Yin at the helm of one of the leading NFT marketplaces in the crypto space, this interview offers invaluable insights into the fast-evolving NFT landscape.

(0:14) - Sal and Dave Opening Thoughts

(10:03) - The Story of Magic Eden

(26:15) - Multichain vs Single Chain Dapps

(34:18) - The Decision to add Polygon

(39:36) - Marketplaces go $BLUR + The Rise of Tensor

(47:44) - The Future of NFTs

(51:44) - The Future of Web3 Gaming

(58:24) - Solana’s Emergence as a Bitcoin Layer 2

-  -

Follow Sal: https://twitter.com/sal_coin

Follow Dave: https://twitter.com/SolBeachBum

Follow Unlayered: https://twitter.com/UnlayeredPod

Subscribe on Apple: http://apple.co/3VyBSWI

Subscribe on Spotify: http://spoti.fi/42q03J2

Subscribe on Google: https://tinyurl.com/5dwn2476

-  -

Episode Resources:

Magic Eden

https://twitter.com/MagicEden

https://magiceden.io/

Sal and Dave tackle the hot-button issue of the Ledger recovery feature, providing their insight into the controversy. They shift gears and sit down with Steven Laver, lead software engineer at Solana Labs, for an enlightening chat into the future of crypto mobile experiences. Specifically, they delve into the world of the Saga smartphone and Solana Mobile Stack, highlighting the utility of the secure element and Solana dapp store. From exploring its potential to support other chains like ETH at the hardware level, to discussing why the phone is much more than a marketing gimmick, Steven underscores the significance of mobile experiences in driving global adoption of digital assets.

(0:14) - Sal & Dave Opening Thoughts

(13:56) - Why the Saga is more than a gimmick

(18:42) - Solana Dapp Store, Crypto’s App Store moment?

(34:50) - How Seed Vault Secures Your Keys

(44:50) - Wallet Adaptor & Support for ETH

(55:05) - What Does Success Look Like?