We're going to see more and more Trad5 firms do their own L2s. I think we're going to see like gaming companies and media companies and chat apps all do their own L2s.

All of that is going to really strengthen the network effects of

ethereal and five years from now when some Tratfite late cover comes to me be like

how do I invest in the success of the network effects of ethereal I'm going to be like well the only way to do it is to own eith. Welcome to Bankless, where we explore the frontier of Internet money and Internet finance.

This is Ryan John Adams. I'm here with David Hoffman and we're here to help you become more

bankless. Calm down.

Ethereum is fine.

This is basically the message of our guest today.

He's Professor Omead Malachan.

Formerly, he worked in Tradify.

He is a current professor at Columbia, and he teaches courses on crypto basically.

I'm sure a number of his students will be tuning into this episode today.

David, there were a number of questions we wanted to ask the professor today because his Twitter timeline is just like fantastic.

Lots of hot takes and I think you both you and I detected that he sort of shared many of the

bankless fundamental takes.

So we want to ask him current event type questions.

Like, why has Eith been underperforming this cycle?

Why is the price so low?

What's the value accrual properties for Eather the asset?

Are Etheam layer two's's parasitic all of these questions are in kind of the current meta of crypto at the time

But in order to get there we had to ask him fundamental questions like what are blockchains even good for like why do they exist? What does he think about Bitcoin? What does he think about

Ethereum? Is one chain's block space the same as another chain's block space are these

...