EPISODE · Aug 22, 2023 · 1H 25M
The Value of Modular Blockchains | Nick White, Neel Somani
from Lightspeed · host Blockworks
Nick White (COO of Celestia) and Neel Somani (founder of Eclipse) join us to debate the tradeoffs of modular vs integrated blockchains. We cover the modular thesis, how Eclipse is bringing the SVM to Ethereum, the hidden costs of modularity, centralized sequencers and L2s, where value will accrue in a modular paradigm and more! - - Timestamps (00:00) Introduction (01:17) What are Modular Blockchains? (05:02) Data Availability Explained (08:43) Light Clients and End User Verification (19:13) Eclipse: the SVM Rollup Provider (20:18) Why do Rollups Need Settlement? (25:54) Jito Mid Roll (26:58) Permissionless Plug (27:58) Should Celestia Enshrine a Settlement Layer? (31:02) L2 Training Wheels (35:21) Kyle Samani’s "The Hidden Costs of Modular Systems” (42:30) Appchains vs Rollups (46:11) How Eclipse is Bringing the SVM to Ethereum (47:26) Are Centralized Sequencers Okay? (52:56) Will Crypto Apps Have a Power Law Outcome? (57:31) Network Effects and Value Accrual (01:07:43) Where Will Enterprises Launch Applications? (01:11:36) Rapid Fire - - This episode is brought to you by Jito. Jito is the easiest way to earn MEV rewards on Solana with liquid staking. Stake your SOL with Jito to start earning high yield powered by MEV and access instant liquidity through Jito’s liquid staking token JitoSOL so that you can use your staked assets across Solana DeFi. Visit jito.network to get started today! - - Follow Neel: https://twitter.com/neelsalami Follow Nick: https://twitter.com/nickwh8te Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 - - Resources Jito jito.network Celestia https://twitter.com/CelestiaOrg https://celestia.org/ Eclipse https://twitter.com/EclipseFND https://www.eclipse.builders/ - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.
What this episode covers
Nick White (COO of Celestia) and Neel Somani (founder of Eclipse) join us to debate the tradeoffs of modular vs integrated blockchains. We cover the modular thesis, how Eclipse is bringing the SVM to Ethereum, the hidden costs of modularity, centralized sequencers and L2s, where value will accrue in a modular paradigm and more! - - Timestamps (00:00) Introduction (01:17) What are Modular Blockchains? (05:02) Data Availability Explained (08:43) Light Clients and End User Verification (19:13) Eclipse: the SVM Rollup Provider (20:18) Why do Rollups Need Settlement? (25:54) Jito Mid Roll (26:58) Permissionless Plug (27:58) Should Celestia Enshrine a Settlement Layer? (31:02) L2 Training Wheels (35:21) Kyle Samani’s "The Hidden Costs of Modular Systems” (42:30) Appchains vs Rollups (46:11) How Eclipse is Bringing the SVM to Ethereum (47:26) Are Centralized Sequencers Okay? (52:56) Will Crypto Apps Have a Power Law Outcome? (57:31) Network Effects and Value Accrual (01:07:43) Where Will Enterprises Launch Applications? (01:11:36) Rapid Fire - - This episode is brought to you by Jito. Jito is the easiest way to earn MEV rewards on Solana with liquid staking. Stake your SOL with Jito to start earning high yield powered by MEV and access instant liquidity through Jito’s liquid staking token JitoSOL so that you can use your staked assets across Solana DeFi. Visit jito.network to get started today! - - Follow Neel: https://twitter.com/neelsalami Follow Nick: https://twitter.com/nickwh8te Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 - - Resources Jito jito.network Celestia https://twitter.com/CelestiaOrg https://celestia.org/ Eclipse https://twitter.com/EclipseFND https://www.eclipse.builders/ - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.
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The Value of Modular Blockchains | Nick White, Neel Somani
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