ETH Denver Debate: Should Testnet ETH Be Free or Have a Price? - Ep. 464

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 7 March 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

LayerZero launched a testnet bridge that allows users to swap mainnet ETH for Goerli ETH (GoETH), which led to a sudden emergence of a liquid market for GoETH tokens. This was a hugely controversial decision, as many in the Ethereum community believe that testnet tokens should remain free. At ETH Denver, Laura moderated a panel discussion about this hot topic with Bryan Pellegrino, cofounder and CEO of LayerZero Labs, Greg Markou, founder of Chainsafe and Matt Garnett, software engineer for the Ethereum Foundation. Show highlights: why LazerZero launched a testnet bridge for Goerli ETH (GoETH) the three reasons why Greg is opposed to Goerli ETH having a price why Bryan believes it is impossible for a permissionless testnet to have free tokens the three types of constituencies that use testnets whether the Sepolia testnet solves the issues with Goerli the upcoming Holli testnet and the problems it aims to solve how to create a permissionless testnet that takes into account the needs of developers from all over the world whether LayerZero’s move will create more problems in the future Thank you to our sponsors! Crypto.com FTSE Halborn Panel Bryan Pellegrino, cofounder and CEO of LayerZero Labs. Greg Markou, founder of Chainsafe Matt Garnett, software engineer for the Ethereum Foundation Links: Unchained: Goerli Testnet ETH Is Now Being Monetized CoinDesk: Start of the End? Testnet Goerli Ether Spikes to $1.60 as Traders Jump on Opportunity Meant for Developers LayerZero blog post: Public Goods by LayerZero. Alchemy: What is the Sepolia testnet? Ethereum (ETH) Developer Announces Plan To Launch New ‘Holli’ Testnet Later This Year Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You should not be arguing against permissionless structures ever.
0:03.2	Originalists will always be better than permission, period.
0:10.4	Hi all, today's episode, recorded live at ETH's Denver,
0:13.9	is about the recent drama in Ethereum over TestNet ETH,
0:17.2	in particular ETH on the girly testnet.
0:19.9	These are the test blockchains that developers use to simulate their projects,
0:23.6	whether they're the devs working on the main software clients for the blockchain,
0:26.8	or if it's the node operators, stakers, and minors,
0:29.6	or if it's the application developers.
0:32.1	As you'll hear, the question of whether or not there should be a monetary value on TestNet ETH
0:36.8	quickly became an extremely contentious issue.
0:39.7	Which is why, at the last minute, I was invited to moderate a debate at ETH Denver on the topic.
0:45.2	I hadn't been intending to go, but I spontaneously decided to, two days in advance,
0:50.2	and I'm so glad I did.
0:52.0	The debate at ETH Denver was pretty heated, as you'll hear,
0:55.5	and I myself am undecided about the best way to proceed.
0:58.9	Tweet at me or the Unchained Twitter account to let us know what you think on the topic.
1:03.1	The debate participants are Brian Pellegrino,
1:05.6	Chief Executive Officer at Layer 0 Labs, Greg Marco,
1:09.2	CPU of Chain Safe, and Matt Garnett, software engineer on the GO Ethereum team.
1:14.0	And now onto the show.
1:17.0	We have three projects lost nearly $4 billion of crypto assets in 2022,
	...

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