Two heavy hitters at the Ether Summit

What were some of the great presentations by V God and Changpeng Zhao at the Ether Summit?

Two heavy hitters at the Ether Summit

The 2021 Ether Virtual Summit, organized by Decrypt, featured many great speeches from guests, including Daniel Roberts, V God, Changpeng Zhao, Sergey Nazarov, Stani Kulechov, Joe Lubin, and other notable figures.

V God, the founder of Ethernet, gave a speech about NFT, DAO, DeFi and Ethernet, presenting different perspectives on how to organize people to work together. He said that with DeFi and NFT, the usage of Ether is accelerating, and that NFT has a speculative nature, allowing people who would not have crossed paths to create some kind of business model for the first time, which includes creators, artists and even charities, giving birth to unprecedented interactions.

In terms of the Ethernet roadmap, V-God said that many aspects of the roadmap are becoming more and more tangible as the merger date approaches, with optimistic estimates that the upgrade could be completed by the end of this year, and that after the merger, the execution chain would run inside the consensus chain, with each beacon chain block including a block from the execution chain. He also said that the merger requires a lot of complex technology and the aim is to make the whole process as simple as possible. The merger will be smoother for users, clients, developers and smart contracts, and users don’t need to worry too much.

When talking about the tamper-evident aspect of Ether, he said to make the operation and building of future Ether nodes easier, there are cultural differences between Ether and BTC, for today’s BTC nodes, it has to record and verify the data of the whole BTC chain, Ether is the opposite, in the future, researchers of Ether can use an old node to check the old data of that block chain, the difference of community relations is just one of the differences between BTC and Ether.

Binance CEO Zhao Changpeng insisted that Binance does not have a headquarters, saying that everyone’s definition of a company’s headquarters is nuanced, is a company’s headquarters an office? I’ve been working from home for three and a half years, and our senior leadership team doesn’t work in the same office. He added that when it comes to companies in the traditional sense, people think of concepts such as headquarters, offices, bank accounts, and registration, but today it is still possible to start a company without these things.

Regarding the Coinbase IPO, Zhao Changpeng said that this matter has given Binance a clear direction in the U.S. He said that the U.S. is now the most developed economy in the world and now cryptocurrency exchanges are able to conduct IPOs on Nasdaq, which has great significance, and made it clear that Binance will follow Coinbase’s footprints and other countries will also imitate the U.S. crypto In terms of regulation in many ways, he expressed optimism in terms of volume comparisons between Coinbase and Binance, saying, “On the first day of the Coinbase IPO, Binance reached 40% of Coinbase’s volume in the U.S. Every exchange now claims to be the largest exchange, and we claim externally that Binance is one of the largest exchanges, there are different metrics to measure the size of the exchange, if you go by trading volume, active users, third party web traffic analysis and mobile downloads, Binance counts as the largest.”

Zhao Changpeng also spoke about Binance’s path to growth in the U.S., saying, “We want people to know that Binance takes compliance very seriously, though, we also want to grow our business, and in the crypto space, Binance counts as the most compliant company in the world.”

Regarding BSC, he was adamant that BSC is definitely not a replica of Ether, saying, “Obviously, people will watch popular projects in Ether and bring those projects to BSC, the blockchain is not born from Ether, Ether just uses the same blockchain technology as BTC, Uniswap did invent concepts like AMM, liquidity pools, etc. But in the crypto space, your concepts are quickly copied by others.” In terms of transaction fees, he said, “Ether’s transaction fees, despite reaching new highs, the platform was able to generate some similar but higher quality projects than before, and for other blockchains that have transaction fees of $100, they certainly wouldn’t have as many users.”

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