58 - EIP-1559 | Hasu
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 March 2021
⏱️ 97 minutes
🧾️ Download transcript
Summary
Hasu is a pioneer and thought leader in the world of cryptoeconomic research.
He is a rare voice in crypto, unafraid to speak his mind and break ranks with both Ethereans and Bitcoiners. His takes were often varied and elusive… until the EIP-1559 proposal. Dive in to learn what changed his mind.
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🎙️Bankless Podcast Episode #58: EIP-1559
March 29th, 2021
Guest: Hasu
Hasu is a renowned pseudonymous researcher in the cryptoeconomic space, and we have been long impressed by his clear, sober ideas. In his second appearance on the pod, we dive deeply into EIP-1559, covering its technicals but also the social & cultural implications of the proposal.
When it comes to the field of cryptoeconomics, Hasu is most compelled by research on establishing and maintening economic security. EIP-1559 embodies these concepts through its transaction fee dynamics, regulation of gas prices, and novel mechanisms for users to buy transactions on the network.
Properly incentivizing validators to come to consensus is necessary for a cryptoeconomically secure platform. EIP-1559 aims to accomplish this by regulating the consumption of resources on the network, fixing the price of gas on a block while allowing its quantity to float.
The changes under EIP-1559 allow Ethereum to incentivize its deflationary mechanism, mitigate Miner Extracted Value (MEV), and improve the user experience for individuals transacting on the Ethereum network. Tune in as Hasu's refreshing and credible perspective conceptualizes this multi-faceted cryptoeconomic system.
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RESOURCES:
Uncommon Core Blog/Podcast:
https://uncommoncore.co/
Derbit Insights:
https://insights.deribit.com/market-research/
Hasu on Twitter:
https://twitter.com/hasufl?s=20
Some of Hasu’s Writings:
-Analysis of EIP-1559 https://insights.deribit.com/market-research/analysis-of-eip-1559/
-Guide to EIP-1559 https://uncommoncore.co/eip-1559/
-The future of money https://insights.deribit.com/market-research/the-future-of-money-could-be-discretionary/
EIP-1559 on the Horizon
https://newsletter.banklesshq.com/p/eip-1559-on-the-horizon-market-monday-37f
The Bull Case for Cryptography
https://shows.banklesshq.com/p/-moon-math-the-bull-case-for-cryptography
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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:
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Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the front-tier internet money and internet finance. |
| 0:18.7 | This is how to get started, how to get better, and how to front-run the opportunity. |
| 0:23.4 | I'm Ryan Sean Adams, I'm here with David Hoffman, and we're here to help you become |
| 0:28.2 | more bankless. |
| 0:29.8 | David, what an episode. |
| 0:32.4 | This is a perfect follow-up to our last episode with Justin Drake. |
| 0:37.1 | Who did we have on, and what is this one about? |
| 0:40.3 | We had on Hazu, who is a pseudo-anonymous crypto-economic researcher, who is renowned for being |
| 0:46.9 | a very clear sober thinker in this space, which is hard to come by. |
| 0:52.1 | And he has particularly found resonance with EIP1559 as a mechanism, which he thinks |
| 0:59.5 | is generally positive in most, if not all, respects. |
| 1:04.3 | And so he has really led the charge. |
| 1:06.4 | And Hazu has previously been kind of labeled a very strong Bitcoin or, if not, Bitcoin |
| 1:11.1 | maximalist. |
| 1:12.6 | And then EIP1559 came around, and he has really found resonance with EIP1559, and it has |
| 1:19.0 | really been a champion in the Ethereum community, championing EIP1559 for all of his merits |
| 1:25.8 | to make sure that it gets included into the Ethereum protocol. |
| 1:30.1 | And so we brought on Hazu to help us walk through and understand EIP1559 from the person |
| 1:36.5 | that, in my opinion, understands it the most, except for maybe after people like Tim Beko |
| 1:40.6 | and some of the deepest researchers in this space. |
| 1:43.2 | But what Hazu is uniquely positioned to talk about is not only the specific technical |
| 1:48.1 | details of EIP1559, but how EIP1559 extends into the social realm and the cultural realm, |
... |
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