125 - Ethereum's Hidden Power Structures | Matt Cutler
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 27 June 2022
⏱️ 93 minutes
🧾️ Download transcript
Summary
Matt Cutler is the Co-Founder and CEO of Blocknative and a gigabrain when it comes to Ethereum’s hidden power structures and all things blockchains.
As Ethereum approaches the merge, these power structures are going to change. What will this post-merge future look like? Will users get paid to use Ethereum?
Matt explains everything from first principles and it helps illustrate the complexities of everything discussed in this insightful episode. By the end of it, you’ll have a better understanding of the purpose of blockbuilders, the new post-merge roles, all things MEV, and so much more.
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Topics Covered:
0:00 Intro
6:27 The Reason for the Merge
10:07 The Values PoS Preserves
13:45 Blockbuilding Explained
16:35 Mining Pools & Incentive Categories
30:25 Why Decentralizing Power Matters
33:40 The Future State of Ethereum
39:21 The Post-Merge World Roles Explained
45:25 MEV Searchers vs. Blockbuilders vs. Stakers/Validators
55:45 PBS & MEV Boost & Who Are the Blockbuilders
1:03:50 Economic Rewards for Blockbuilders
1:17:19 Ethereum Will Eventually Pay Users?
1:19:40 Can Ethereum Stay Decentralized?
1:26:22 ETH The Asset
1:31:39 Where MEV Exists
1:35:16 How Blocknative Fits into All of This
1:37:30 Closing & Disclaimers
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Resources:
Matt Cutler
https://twitter.com/mcutler
Blocknative
https://twitter.com/blocknative
End Game with Vitalik
https://youtu.be/b1m_PTVxD-s
Ultra Scalable Ethereum
https://newsletter.banklesshq.com/p/ultra-scalable-ethereum
The Guide to the Ethereum Roadmap with Jon
https://youtu.be/xuLyZaty9iI
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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://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:12.0 | This is how to get started, how to get better, how to front-run the opportunity. |
| 0:15.7 | This is Ryan Sean Adams. |
| 0:16.7 | I'm here with David Hoffman, and we're here to help you become more bankless. |
| 0:22.0 | Excellent episode for you today. |
| 0:23.7 | We're talking about Ethereum's hidden power structures. |
| 0:27.5 | Some of the power structures you didn't know existed, but that do, and how those power structures |
| 0:32.1 | are going to change post-merge. |
| 0:34.5 | This is coming down the pipe really soon, and you need to know about it. |
| 0:38.4 | Some things to look out for in this episode with Matt Cutler, who guides us through and |
| 0:42.2 | educates us through these new power structures. |
| 0:44.8 | Number one, what the power structures in Ethereum are today. |
| 0:48.6 | Number two, how are they going to change post-merge? |
| 0:51.8 | Number three, what this future world will look like. |
| 0:54.2 | Is there a future world, as Matt says, where users might actually be paid to use Ethereum? |
| 0:59.6 | No gas fees. |
| 1:00.6 | Instead, Ethereum pays you. |
| 1:02.2 | And number four, why the value of this new power structure, this new economy, flows back |
| 1:07.5 | to eth the asset. |
| 1:09.0 | Yep, that's right. |
| 1:10.3 | Back to eth the asset. |
| 1:12.2 | We talk about all of those things with one of the people who is most educated and most |
... |
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