Scaling Ethereum with Arbitrum & The Future of Layer-2

#StevenGoldfeder
#Arbitrum
#REDeFiNETOMORROW2023
#SCB10X

Fireside Chat: Scaling Ethereum with Arbitrum & The Future of Layer-2
• Steven Goldfeder, CEO & Co-founder, Arbitrum
• Moderator: Adam Goldberg, Co-founder, Standard Crypto

1/15: In a recent conference session, Steven Goldfeder, CEO of #Arbitrum, and Adam Goldberg, Co-founder of Standard Crypto, dissected the nuances of the Arbitrum ecosystem, focusing on community governance and technical aspects. [Commentary added for clarity]

2/15: One key topic was the evolution of Arbitrum, a technology stack initially developed through academic work at Princeton and now a commercialized entity after the launch of Arbitrum Mainnet in August 2021.

3/15: The Arbitrum DAO and the Arbitrum Foundation, managing the Arbitrum chains, were launched recently, strengthening Arbitrum's market presence. This includes Arbitrum One, a DeFi stronghold, and Arbitrum Nova, a gaming-centric chain.

4/15: The session explored community governance in Arbitrum, particularly around intricate technical challenges. Goldfeder underscored the concept of self-executing governance, where technical upgrades are proposed and voted upon on-chain by the community.

5/15: Notably, the complexity of these issues can sometimes surpass the average voter's technical understanding. As a solution, Goldfeder proposed delegation of voting power to subject matter experts.

6/15: Akin to representative democracy, this process would ensure informed decision-making, with the added necessity of checks and balances to maintain the integrity of governance procedures. This includes external audits and engagement of independent experts.

7/15: A point of interest was the discussion of single-player app chain roll-ups. Goldfeder emphasized the benefits of shared security and infrastructure provided by public chains like Ethereum, and the challenges of creating dedicated infrastructure for custom chains.

8/15: Moving to the topic of EVM compatibility, a noteworthy product launch was announced: Stylus, a project from Off Chain Labs. This allows developers to write code in languages like Rust and C++, broadening the developer base.

9/15: Goldfeder added, another project on the horizon is Arbitrum Stylus, aiming to support additional programming languages. Importantly, alongside Stylus, the EVM equivalent of the Arbitrum Nitro stack will remain, catering to developers preferring Solidity.

10/15: The readiness of the fraud proving system for Arbitrum Stylus was confirmed by Goldfeder, with expectations of it being available for production later in the year.

11/15: It was clarified that the decision to launch a layer three app chain lies with individual developers. However, the deployment on Arbitrum One or Arbitrum Nova is determined by the community and the DAO.

12/15: [Commentary: The significance of community involvement and decentralization was a recurring theme throughout the session.]

13/15: When it comes to optimistic vs. ZK roll-ups, Goldfeder stressed that the industry is still evolving. While optimistic roll-ups are currently more cost-effective, compatible, and mature, ZK technology could become competitive with future breakthroughs.

14/15: On community involvement, Goldfeder argued against paying delegates to participate. Instead, he emphasized the importance of building a revolutionary product that resonates with the community, attracting delegates with a genuine interest and vested interest in the project.

15/15: Wrapping up the session, Goldfeder expressed admiration for the numerous projects in the Arbitrum ecosystem, showcasing the vibrant pace of innovation and the constant emergence of exciting new initiatives. No one project was singled out as a favorite - a testament to the diversity and creativity in the ecosystem.