►
Description
GM. good merge indeed.
The historic transition to Proof-of-Stake is complete with relatively zero issues. ICYMI we'll give you the rundown. Once hashing power on the Proof-of-Work chain brought mining difficulty to the TTD, total terminal difficulty, it was the end of an era. Reaching TTD triggered the merge of Ethereum's beacon chain into the running chain and began the Proof-of-Stake on Ethereum as beacon chain validators began to provide attestations of the current state. Within the first 8 minutes from the merge, over 100ETH was burned. Block rewards dropped from 2.5ETH to under 0.1ETH per block. And, Ethereum reduced global energy consumption by 0.2% solely as a result of the merge. Truly a remarkable event.
In today's video, we look towards the future. dxDAO joins us to chat about post-merge implications, the state of digital nomads, decentralized power structures, and how Ethereum could capitalize on an inter-planetary economy. This video is great insights for newbs, plebs, degens, and OGs.
Sit back, relax, and enjoy!
-Rob
https://infinite-hackathons.eth.limo/
🙏🏽 Check out our website: https://defislate.com/
🌐 Check Us Out On Twitter: https://www.twitter.com/defislate
🚀 Join the community on Discord to get our free V.1 Yield Farming Guide: https://discord.com/invite/eX5Z8pb3Fr
Check out DeGate Testnet: https://testnet.degate.com/
#DXDAO #DeFi #Decentralization #Ethereum
B
C
What
is
going
on
D5
slate
fam?
We
are
back
in
action
and
super
stoked
to
have
the
fellas
from
DX
Dao
on
today
we
have
Skye,
we
have
Keenan,
we
have
Nathan
and
these
guys
are
building
the
Forefront
of
on-chain
governance,
really
pioneering
the
Dow
space
and
we're
going
to
talk
all
about
what
on-chain
governance
means
in
its
ideal
form.
We'll
talk
some
about
hyper
structures
and
building
resilient
organizations.
C
C
D
I
think
July
24th
rings
a
bell,
but
three
years
of
completely
on
chain
governance,
which
I
think
is
a
mass
massive
Milestone
and
the
way
that
we
operate
of
course,
going
through
non-transferable
reputation,
based
governance,
we'll
kind
of
hand.
The
stage
here
to
Sky
and
Nathan
to
give
some
intros
as
well.
F
Gm
Nathan
here
I'm
also
a
part
of
the
DX
Biz
team
under
the
wing
of
Sky,
although
to
be
fair
to
what
geek
style
is.
I
would
like
to
share
a
reminder
to
the
listeners
if
they
come
across
our
name.
For
the
first
time
we
are
a
truly
digitally
native
remote,
only
Global
Collective
of
Freelancers,
interacting
through
our
governance
system,
which
is
a
protocol
on
the
blockchain
trustlessly
and
we're
truly
unique.
If
you
haven't
heard
about
us,
please
look
us
up
and
and
you'll
be
up
for
a
good
surprise.
C
You
know
from
from
the
context
of
supporting
like
their
entire
team,
specifically
in
the
entire
Community.
More
generally,
could
you
talk
a
bit
about
the
on-chain
governance
that
you
know
is?
Is
it
a
series
of
smart
contracts?
Could
you
unpack
kind
of
what
the
deployments
are
on
chain
and
how
each
of
the
individuals
that
support
DX
Dao
contribute
to
this
on-chain
governance
and,
and
you
know
what
what
are
some
of
the
contributions
that
you
guys
make
on
a
day-to-day
basis
and
continue?
F
But
at
any
point
the
community
feels
like
he's
slacking.
We
can
shut
it
down
and
this
all
happens
on
chain.
Now.
The
the
tragedy
of
the
commons
is
kind
of
like
a
problem,
an
economics
that
occurs
when
individuals
neglect
the
well-being
of
society
in
pursuit
of
personal
gain
now
and
in
Game
Theory.
This
tragedy
of
the
commons
is
seen
as
a
Nash
equilibrium,
where
no
rational
agent
cooperates,
despite
it
being
the
strategy
that
would
actually
maximize
Collective
payoff.
F
F
It
serves
as
this
censorship
resistant
protocol
that
enables
us,
as
a
community,
to
gain
our
autonomy,
be
Sovereign
and
coordinate
trustlessly,
and
we
are
unique
in
the
space
for
collectively
owning
developing
and
governing
public
goods
that
benefit
everyone
and
harm.
No
one
and
it's
been
overlooked.
Even
though
vitalik
has
been
chiming
about
Soul
bound
tokens
which
people
fret
about
the
the
term
it
it
scares
them.
Oh
it
is:
is
this
Soul
bound
to
like
my
soul
and
and
am
I
gonna
get
dogs
how
about
censorship,
resistance
and
anonymity?
D
A
slacker
live,
for
example,
need
to
put
the
word
a
proposal
on
chain
that
says
these
are
kind
of
my
responsibilities
and
that's
effectively.
The
Dow
designating
the
responsibilities
that
it
essentially
has
the
CMO
responsibilities
directly
to
me.
So
it's
like
the
Dow
has
to
vote
and
agree
upon
those
responsibilities.
Those
actions
to
effectively
give
someone
the
informal
delegation
of
that
kind
of
like
role,
if
that
makes
sense,
just
to
kind
of
give
some
context
to
that.
C
D
Yeah
and
I
think
just
to
support
that
ideas,
kind
of
depend
on
that
delegation
of
power.
There
are
certain
initiatives
say
like
from
a
marketing
perspective.
If
an
article
is
published
or
we
make
an
announcement,
that
kind
of
power
has
already
been
delegated
through
an
Unchained
proposal.
So
it's
like
hey
look.
This
is
where
you
know
on
our
Ledger,
exactly
where
it
says
we
can
do
this
without
like
any
follow-up
proposals,
and
so
you
can
kind
of
see
that
dripping
into
other.
D
E
The
person
who
has
that
idea
like
what
they'd
have
to
do
through
in
a
dow
and
within
the
community,
is
to
basically
basically
gather
consensus,
and
so,
if
you
have
an
idea,
you,
you
probably
start
to
bring
that
to
some
of
your
close
contributors.
First,
to
run
that
idea
by
those
people
to
make
it
better
to
get
feedback
to
improve
the
terms
all
that
kind
of
stuff.
Once
you
have
a
small
team
that
you
agree
like
this
is
a
really
cool
idea
that,
like
we
think,
would
add
value
to
the
Dao.
E
That's
when
you
bring
it
maybe
to
the
larger
core
contributor
base,
and
then
eventually
you
know
talk
about
it
on
some
calls,
throw
it
out
in
the
chat,
the
draft
and
then
eventually
you
bring
it
to
the
full
open
public.
So
everything
DX
Dow
does
is
pretty
much
open
in
public
and
that's
where
the
public
forum
and
our
and
our
public
calls
happen,
and
so
that
idea
gets
after
it's
been
refined
and
already
has
support
of
a
of
a
handful
of
people.
E
It
is
then
presented
to
the
the
public
and
then-
and
that
includes
all
the
rep
holders
who
have
governance
power
in
DX,
Dao
and
also
DxD
holders
who,
who
own
the
financial
token,
and
so,
as
that
like
by
the
time
you
bring
an
idea
through
that
process
and
then
eventually
Bring
It
On
chain
to
basically
ask
for
the
money
and
the
desire
of
the
Dow
to
continue
and
pursue
that
initiative.
You
already
are
pretty
sure
that
you
have
a
decent
amount
of
support
and
I
I
say
that
dowels
don't
operate
on
like
51
majority.
E
They
they
more
operate
on
something
like
80
or
90
majority
like
if
I'm
going
to
bring
up
a
proposal
or
an
idea
to
the
Dow
and
actually
put
it
on
chain.
I
want
to
be
pretty
confident
that
I
have
the
support
of
a
majority
like
most
of
the
community,
because
that
proves
that,
like
you,
yeah
you've
refined
it
you've.
You've
figured
out
an
idea
that
is
gonna
have
the
acceptance
of
of
most
of
the
community
and,
like
you,
can
pass
the
proposal
that
might
be
contentious
that
still
passes
with
51
of
the
vote.
E
But
then
49
of
the
people
might
be
pissed
off
and
like
that,
think,
that's
a
stupid
idea.
And
so
really
we
want
to
know
like
what
are
those
49
of
people
think
about
the
idea,
and
how
can
we
make
the
idea
even
better
so
that,
like
90
of
the
people,
also
like
the
idea
and
so
like
it's
it's
a
little
bit
like
passing
a
bill
through
Congress,
it's
better
than
doing
it
in
the
political
world
and
and
the
Dow
can
do
it
actually
quite
quickly
compared
to
like
politics.
But
yet
it's.
E
F
You
know
you
can
go
through
the
whole
process
of
chat
like
attending
meetings,
putting
up
proposals
chatting
with
people
getting
feedback
and
then
once
you
feel,
like
you
have
soft
consensus,
you
can
move
to
the
on-chain
governance
and
submit
a
proposal
for
an
Unchained
vote
but
to
to
pay
homage
to
through
permissionlessness.
You
can
cut
all
this
and
go
straight
to
the
on-chain
proposal,
but
the
thing
is
our
unique
governance
system.
F
Has
this
this
type
of
token
registry,
or
you
could
call
it
a
prediction:
Market,
where
new
proposals
get
staked
with
like
an
economic
token,
they
can
be
Upstate
or
downstate.
So,
if
you
haven't
kind
of
like
spread
the
passion
you,
the
passion
you
have
for
the
type
of
project
you
wish
to
initiate,
no
one
would
be
fired
up
and
share
your
passion
and
vote
in
it.
It
will
likely
get
downstate.
So
you
need
to
go
through
all
of
this
process
of
chatting
with
the
community
getting
feedback.
F
In
order
for
you
to
feel
confident
that
when
you
submit
that
proposal,
it
will
be
Upstate
bumped
up
the
list
and
voted
on
and
it
will
pass
in
and
another
great
feature
of
the
governance
system
we
got
which
allows
us
to
scale
and
which
is
the
reason
we
call
ourselves.
The
first
truly
scalable
Collective
is
once
the
proposal
gets
uptaken
boosted.
It
does
not
require
an
absolute
majority
for
it
to
pass.
F
It
can
pass
with
just
a
relative
majority,
so
we
don't
share
the
same
bottleneck
that
other
organizations
in
the
space
have
asking
their
token
holders
to
vote
on
every
single
proposal
so
that
they
can
get
a
majority
vote.
We
don't
we
don't
have
that
issue
and
what
sky
said
the
it's
all
driven
on
initiative.
We
need
entrepreneurial
people
who
don't
need
to
sit
and
wait
for
someone
to
boss
them
around
and
tell
them
what
needs
doing.
F
If
someone
approaches
the
community
and
says
hi,
there
may
I
join
you
and
start
working
for
you.
What
can
I
do
for
you
like
the
moment,
you
ask
what
you
can
do
for
the
Dao.
It
shows
that
you're
not
the
perfect
fit
for
the
Dao.
You
should
do
your
research
see
what
the
Dow
is
doing
know
your
skills
really
well
know
yourself
really
well
and
see
where
the
Dow
has
a
gap
that
you
can
fill
with
your
own
skills
and
approach.
F
The
Dao
confidently
saying:
hey
guys,
I
can
add
value
to
this
community
by
doing
this
and
this
and
then
you
will
be
accepted
now.
Does
this
Venn
diagram,
I
speak
of
often
where
it
all
makes
sense
is
what
you
love
doing,
what
you
are
good
at
doing
and
what
the
community
needs
and
in
the
center,
where
they
intersect,
is
where
it
makes
sense.
D
D
You
can
ask
a
bit
about
infinite
and
I'd
love
to
share
a
little
bit
of
info,
as
you
mentioned
kind
of
reading,
from
the
announcement
infinite's
kind
of
the
the
very
first
hacker
first
hackathon,
of
course
an
arbitrary
term.
But
there
are
two
things
that
I
think
are
very
important
and
interesting
about
us
and
why?
What
we're
doing
is
a
bit
unique
and
I'm,
actually
going
to
quote
directly
from
our
new
upcoming
landing
page
should
be
ready
in
the
next
week
or
so
Alpha.
D
D
Hackers
are
able
to
unleash
their
Innovative
and
creative
energy
while
avoiding
distractions,
inefficiencies
and
other
fuss,
that's
kind
of
like
the
first
aspect
of
it.
We
want
to
be
Builder
first,
and
we
don't
want
like
all
of
these
unnecessary
distractions.
You
know
having
sponsors
that
are
there
specifically
to
kind
of
propagate
their
own
Vision,
rather
kind
of
building
up
and
pushing
for
the
individual
creativity
of
the
hackers
and
supporting
them
any
way.
D
We
can
that's
kind
of
like
the
the
primary
important
factor
that
we
think
may
be
missing
from
some
other
hackathons
and
that
we're
kind
of
trying
to
propagate
the
other
infinite
or
sorry.
The
other
interesting
aspect
about
infinite
those
I
words
are
are
tricky,
is
infinites
really
Dynamic
and
what
we
want
to
do
with
infinite
brand
is
kind
of
have
it
as
this
like
kind
of
global,
open
or
I.
D
Guess
decentralized
is
really
the
fun
word
for
it:
kind
of
brand,
so
infinite
hackathon
number
zero,
the
inaugural
event
in
Bogota,
as
maybe
Nathan,
can
tell
us
a
bit
about.
Second,
that's
going
to
be
like
the
introductory
event
and
it
kind
of
onboards,
a
couple
of
co-organizers
I.
Believe,
right
now,
Hopper
and
Brink
are
confirmed
specifically
for
the
Genesis
event,
so
they're
co-organizers
of
infinite.
D
You
know
event
that
has
an
ethos
and
kind
of
propagating
that
around
the
space
which
we
think
is
really
interesting
and-
and
me
personally,
this
isn't
anything
enacted,
but
you
can
kind
of
imagine
more
interesting,
on-chain
things
to
kind
of
you
know
run
through
with
that,
like
how
exactly
ownership
Works,
maybe
there's
a
non-transferable
or
soul-bound,
as
we
were
talking
about
earlier
way
of
Distributing
voting
power
in
a
kind
of
Dow
through
incident.
It's
like
okay.
D
F
Yeah,
so
the
the
whole
point
of
us,
organizing,
infinite
hack
done,
is
get
Developers
laser
focused
and
inspired
to
tap
into
their
like
infinite
potential.
We
are
going
after
quality
rather
than
quantity.
It
we
feel
like
we
wish
to
provide
a
luxurious
experience
where
hackers
are
in
the
zone,
they're
wired
in
no
distractions,
and
we
wish
to
Value
the
worth
of
the
hackathon
based
on
the
solutions
that
come
out
in
the
end,
rather
than
the
quantity
of
hackers
that
apply
and
join.
F
If
it's,
if
it's
a
crowded,
noisy
space
with
hundreds
of
people.
But
in
the
end
you
have
just
a
few
few
projects
you
could
be
proud
of
built
during
the
hackathon.
It
is
a
failure,
so
we
we're
not
going
after
advertisement
promotions
sponsors,
that's
not
of
Interest,
aside
from
the
prizes,
which
are,
of
course
in
crypto,
nfts,
3D
printed
metals
and
trophies
that
the
hackathon
in
its
Essence
is
a
is
a
massive
springboard
for
developers.
It
gives
them
those
bragging
rights
for
the
rest
of
Defcon
attending
parties.
F
We
really
like
so
I
I
see
that
I
wish
for
people
to
be
interested
in
attending
the
hackathon,
not
for
the
money,
but
for
the
technology
and
and
for
the
massive
potential
it
holds
for
them
as
a
springboard,
because
what
we
saw
back
in
2017,
a
lot
of
projects
raised
a
stupendous
amount
of
money
based
on
just
the
landing
page
and
then
the
2018
bear
came
and,
and
everybody
thought
oh,
it's
all
dead.
We
should
pack
up
and
start
change
our
vocation,
but
what
we
saw
at
the
end
of
2018
2019.
F
E
And
the
last
thing
I'll
add
to
that
is
that
we,
our
desire,
is
to
attract
those
Builders
out
there
that
that
basically
align
with
the
values
of
you
have
DX,
Dao
and
hopper,
for
example.
So
these
values
are
things
like
actual
decentralization,
you
know
being
true
on
chain
proper
Dow's
privacy
privacy
is
like
one
of
the
most
important
things
in
our
space.
E
We're
seeing
this
now
more
than
ever,
censorship,
resistance,
building,
Unstoppable
unconquerable
products
and
involve
and
basically
making
them
Community
owned,
and
you
know
public
goods
focused
and
things,
and
so
these
aren't
just
you
know,
we
don't
want
people
to
focus
on
the
gimmicky.
You
know
fun
little
hack.
We
want
people
that
care
about
these
aligned
values
and
want
to
build
within
that
space.
And
so
that's
that's
our
goal
in
attracting
that
crowd,
and
hopefully
yeah.
This
will
be
the
birth
of
this
kind
of
new
type
of
hackathon
and
Community.
D
F
Yeah
also,
when
I
said
we
we
wish
to
provide
a
luxurious
experience.
I
I
often
give
this
example
with
the
ivy
league
universities
in
the
United
States,
where
what
is
valued
is
the
ratio
of
teachers
to
students
and
in
in
sharp
contrast
to
community
colleges,
where
you
have
a
ton
of
students,
but
not
enough
teachers
that
that
is
not
cool.
So
we
focus
on
us
providing
developers
with
the
best
environment.
There
will
be
introductions,
talks
and
workshops.
F
Every
core
organizer
will
have
developers
on-site
mentoring
and
guiding
the
builders,
and
we
wish
to
make
them
feel
at
home
and
build
something
that
we
can
all
be
proud
of,
and
if
anyone
listening
is
interested,
whether
you
are
a
developer,
who
wishes
to
attend
and
hack
or
you
are
an
organizations
that
organization
that
would
like
to
partner
with
us,
not
as
a
sponsor,
but
as
a
co-organizer,
you
can
visit
infinite,
hyphen,
hackathons,
dot,
eth,
dot,
limo
and
or
get
in
touch
with
us.
Come
to
our
Discord.
C
He's
out
of
my
mouth,
we'll
we'll
absolutely
have
that
link
in
in
the
intro
to
this
post,
as
well
as
in
the
description
and
yeah
I
yeah
there
there's
tons
of
awesome.
You
know
results
and
and
I
I,
really
like
the
infinite
potential
that
you
know
all
these
developers
share
and
imagine
you
know
combining
one's
infinite
potential
with
another's
it's.
It's
a
scalable
Vision
that
DX
Dao
is
is
right.
C
D
So,
of
course,
I
can't
necessarily
speak
on
behalf
of
the
Dow.
We
have
not
had
a
signal
proposal
or
anything
for
a
formal
standpoint
from
the
Excel
but
I'll
say
very
broadly.
There
appears
to
be
a
consensus
that
this
is
not
a
good
precedent.
Of
course
we
believe
code
is
speech.
We
had
a
little
bit
of
a
kind
of
post
on
that,
but,
of
course,
referring
to
the
tornado
cash
developer
that
was
arrested.
D
It's
still
unclear
exactly
the
reason,
they're
being
very
vague
about
it,
but
if
it
was
strictly
through
writing
code
that
was
used
in
a
malicious
way,
then
there's
definitely
a
problem
and
it's
a
not
a
great
precedent.
Of
course
you
know
the
security
and
importance
of
what
we're
doing
is
really
affected
by
that
and
I'll
say
kind
of
down
stream.
Those
of
us
kind
of
working-
and
this
isn't
just
the
extasis
everyone
that
I've
spoken
to
personally,
is
kind
of
very
wary
about
the
situation,
not
feeling
great
about
it.
D
You
know
it
like
it's
the
slippery
slope
mentality
almost
where
it's
like,
okay,
well,
it's
a
mixer
now
and
then
what
is
it
in
the
future?
Is
it
all
of
D5?
You
know
what
exactly
is
going
to
list
who's
following
who
and
how
is
that
going
to
work
and
then
we're
seeing
rpcs,
basically
blocking
requests,
we're
seeing
miners
rejecting
contract
calls
directly
and
they're,
not
mining
those
transactions?
D
D
But
it's
like
it's
kind
of
like
it's
a
fallacy.
Really
it's
like
the
person
who
manufactured
the
car,
they're
responsible
for
the
accident
right
and
that's
kind
of.
Although
a
very,
very
strawman
argument,
it's
a
very
good
kind
of
way
to
visualize.
Why
it's
a
problem,
you
know:
I,
wasn't
the
one
driving
the
car
you
know
causing
the
accident.
I
was
the
one
that
made
the
car
and
that
that
person
is.
You
know
the
one
in
trouble
here.
E
Yeah
yeah,
that's
yeah
very
specific
to
that
situation,
but
in
general
you
know
in
the
ethereum
space
a
lot
of
people
in
the
web.
Three
space
we've
been
we've
been
working
towards
this
mission
of
building
products
that
are
neutral
that
are
like
this,
like
ethereum
being
this
unsensorable,
like
truth
layer
to
to
data
for
the
world,
and
eventually,
when
you
know
many
of
the
finances
and
things
on
the
world
are
going
to
be
on
this
on
this
layer
in
this
settlement,
layer
like
this
thing
can't
be
manipulatable
right.
It
can't
be.
E
No
specific
people
can't
censor
this,
and
so
we've
been
there's
a
lot
of
people
that
are
building
products
on
on
ethereum
on
this
layer
and
there's
been
a
spectrum
of
of
centralized
small
teams
doing
it,
and
then
you
know
decentralized,
Dows,
building
products
and
and
then,
along
that
process
of
building
products.
There
is
all
of
these
pieces
that
go
into
it.
There's
the
front
end.
There's
the
back
end.
E
There's
the
code
there's
where
the
code
is
stored,
there's
how
you
access
the
products
right
and
so
there's
all
of
these
pieces
to
what
these
products
are
and
up
until
recently,
we
kind
of
just
a
lot
of
people
were
taking
short
mini
shortcuts
right
and
we're
starting
to
see
that
that
any
things
any
points
in
those
in
those
products
that
are
centralized
can
be
either
attacked
or
censored
or
shut
down.
And
so
you
can't
have
Unstoppable
products
if
there.
E
If
the
whole
thing
is
full
of
these
centralized
points
of
failure,
and
so
I
I
say
that,
like
decentralization
is
the
defense
mechanism
to
those
weak
points
that
can
be
shut
down
and
attacked
right
and
that's
from
managing
the
product.
Like
many
many
communities
out,
there
might
use
a
a
three
or
five
multi-sig,
and
even
if
you
trust
that
five-person
multi-stig,
if
a
malicious
person,
attacks
the
keys
and
gets
the
keys
of
three
of
those
five
people,
they
can
attack
the
system
right.
And
so
how
do
you
defend
that?
E
You
basically
need
to
get
rid
of
the
centralization
of
it
and
the
way
you
do
that
is
you
get
you
move
towards
decentralization.
So
we
already
know
that
decentralization.
Is
this
really
powerful,
characteristic
of
of
really
yeah
of
really
strong
systems,
but
I
think
that
we're
starting
to
realize
that
we've
many
people
have
compromised
on
the
decentralization
part
and
it
started
to
show
now,
and
so
there,
like
VX
style,
has
been
at
least
a
decent
example
of
one
of
the
entities
out
there.
C
And
dxdow
has
started
decentralized
and
continued
to
be
decentralized
and
grown
more
distributed,
as
the
community
has
has
grown
in
size
is.
Is
there
a
you
know?
How
do
you
guys
feel?
What's
your
opinion
on
starting
decentralized
and
continuing
in
that
in
that
Journey
versus
starting
centralized
and
using
that
that
initial
Community
to
bootstraps
and
growth
and
then
removing
some
of
those
centralization
vectors
or
those
attack
vectors?
You
know
removing
the
the
elements
of
centralization
in
order
to
to
prevent
attack
vectors
over
the
course
of
time
to
to
progressively
move
towards
decentralization.
C
Those
into
you
know:
Dow
owned,
ipf
links
and
front
ends,
Dow
owned
server,
spaces
and
I'm
curious.
If
you
see
a
relationship
between
the
two
and
maybe
some
general
thoughts
on
social
slashing,
if
you
guys
have
thoughts
on
you
know,
how
do
you
prevent
an
attacker
from
maliciously
attacking
the
network
on,
let's
say
it's
an
ipfs
link
and
then
we'll
get
kind
of
into
the
social
flashing
elements
of
ethereum
and
how
how
you,
you
know,
might
might
see
that
playing
out.
F
Well
it
it
is
a
whole
ecosystem,
a
whole
industry
in
transition,
because,
like
not
not
the
entire,
like
blockchain
industry,
ethereum
in
itself,
has
so
many
applications
running
on
it.
It
is
a
whole
industry
in
and
of
itself
D5
pretty
much
started
with
ethereum
and
and
is
almost
confined
to
ethereum.
So
this
whole
industry
is
in
transition.
Now,
with
the
pending
merge
and
up
until
this
point,
we've
had
proof
of
work.
F
After
the
merge,
we
will
be
moving
on
to
proof
of
stake
when
we
had
the
beacon
chain.
There
was
a
restriction
that
you,
like
our
requirements,
that
kind
of
people
at
first
scoffed
and
said:
oh,
that's
that
feels
rather
centralized.
You
need
to
have
like
32
ether,
to
stake
and
validate
that
that
doesn't
sound
right
right,
but
then
we
had
these
protocols
that
allowed
people
to
stake
even
smaller
amounts,
and
it
seems
like
moving
forward.
C
Yeah
and
and
the
ideas
of
proof
of
stake
almost
seems
similar
to
like
a
like
a
gigantic
multi-cig,
where
you
know
we
have
all
the
people
who
have
contributed.
You
know
32
eth,
into
the
beacon
chain
and
they're
making
up.
You
know
one
piece
of
that
of
that
multi-signature
wallet
and
now
you
know
if,
if
there's
a
malicious
signer
on
that
on
that
say,
wallet
the
rest
of
the
signers
on
that
wallet
can
kind
of
reject.
C
Yet
I
I,
remember
watching
one
of
the
ethereum
core
Dev
calls
I
think
on
August
18th,
and
there
was
a
split
almost
in
the
community
where
some
of
the
social
slashing
mechanisms
started
to
sound
like
we
were
censoring
the
sensors,
and
then
you
know,
obviously
that
just
creates
new
sensors
new
censorship.
So
I'm
I'm
curious.
D
D
E
My
opinion
is
that
if
I
I
think
that
this
base
layer,
which
is
ethereum,
has
to
remain
neutral
right,
if
it
doesn't
remain
neutral,
then
the
whole
thing
basically
doesn't
doesn't
mean
anything
anymore
right,
and
so
the
idea
was
to
have
a
base
layer,
that
is,
that
is
fully
neutral,
and
so,
if,
if
validators
of
that
neutral
chain
are
censoring
transactions,
what
can
go
into
blocks
and
what
blocks?
What
what
blocks
can
be
built
on
from?
E
You
know
previous
transactions
in
previous
blocks
and
things
if
that
starts
to
be
censored,
I
think
the
the
whole
thing
becomes
not
what
not
what
we
need,
and
so
there
are
yeah.
There
are
some
public
Twitter
discussions
and
things
in
some
large.
You
know
validator
groups,
like
you
know
some
exchanges
and
things
I
think
are
already
putting
out
opinions
about
this,
that
if,
if
they
were
being
forced
to
censor
that
they
would
stop
validating
blocks
and
things
like
that,
so
I
think
I
think
we
need
to
move
towards
the
the
new.
E
We
need
to
maintain
the
neutral
platform
that
it
is
and
then
you
know
you
can
have
daps
and
things
on
top
of
that
and
different
people
can
use
different
apps,
but
to
be
that
we
need
to
at
the
end
of
the
day,
we
need
to
build
systems
that
allow
for
this.
These
Unstoppable
products
to
be
built,
and
that
has
to
be
on
a
neutral
base.
Layer,
I
think,
but
that's
yeah
I
think
that's
critical
to
to
what
we're
what
we're
all
doing
here.
E
F
F
You
know,
form,
factions
and
start
fighting
and
like
they
don't
even
have
to
fight
us
like
we'll,
kill
each
other
so
and
and
like
with
the
model
of
ultrasound
money.
Of
course,
this.
This
also
kind
of
like
thing
at
the
back
of
people's
heads
in
in
the
future
would
would
it
be
in
a
proof
of
stake,
a
consensus
model?
Would
it
be
more
centralized?
Could
it
be
further
getting
further
distributed?
How
would
that
actually
happen?
F
Economically,
because
we've
seen
capital
is
mercenary,
you
know
it's
opportunistic
and
if
there
really
is
a
fork
that
follows
censorship,
then
quite
a
bit
of
money
drain
could
like
could
flow
out
and
go
to
that
system.
And
then
what
are
we
really
left
with
like
because
in
a
proof
of
stake,
the
security
comes
from
stakers,
but
if,
like
there's
no
economic
backing
in
that
stake,
then
it's
a
shaky
structure,
but
when
it
comes
to
the
our
Dao's
governance,
it's
a
completely
different
picture.
We
don't
have
liquid
token
governance.
F
It's
non-transferable
reputation,
token
that
cannot
be
delegated,
it
cannot
be
transferred,
you
can
to
buy
it
or
sell
it
and
in
fact
it's
the
opposite
of
the
ultrasound
money
model.
It
actually
gets
diluted
so
that
when
new
contributors
join
the
Dow,
they
loot
the
shares
of
all
the
contributors
so
that
there
are
no
whales.
You
know
it's.
The
distribution
of
voting
power
is
really
amazing.
It's
a
scalable
structure
that
is
welcoming
to
newcomers.
The
more
you
work
you
put
in
your
proof
of
work
contribute
to
the
Dow.
F
C
You
know
this
is
this
is
purely
speculation
at
this
point,
but
it
seems,
like
you
know,
we're
kind
of
really
leaning
into
that
Financial
stake
model
and
there
isn't
a
whole
lot
of
the
non-transferable
reputation
that
goes
along
with
that
I.
Even
I
even
heard
on
this
call
that
there
was
some
discussion
of
electing
like
a
council,
and
you
know
that
could
serve
as
like
kind
of
like
the
recipients
of
this
non-transferable
governance.
Token
that
you
know
might
elect
to
Target
slashing
on
on
one
relay
or
or
sticker
or
something
Keen.
D
That
is,
if
you're
a
contributor
you
have
to
back
up
your
say
with
the
associated
Financial
token,
to
show
that
you
have
skin
in
the
game
to
exercise
that
reputation.
And
likewise,
if
you,
you
know,
purchase
a
boatload
of
dxt,
you
need
to
show
that
you
have
some
commitment
to
the
data
exercise
that
putting
power
you
know,
via
through
commitment
to
the
community
on-shaped
proposal
of
some
kind
kind
of
backing.
D
That
up
I
think
that's
very,
very
important,
and
one
thing-
and
maybe
this
is
a
bit
of
a
hot-
take
I-
think
that
governance
2.0
should
be
everywhere.
Of
course,
we
haven't
had
a
full
experiment
with
it.
So
maybe
you
know
in
practice
there's
some
challenges
that
we're
not
visualizing.
It
I
think
that
everyone
should
have
it
ethereum
in
that
specific
case,
I
feel
as
if
it
should
be
weighted
much
more
heavily
towards
reputation
as
opposed
to
financial.
D
Of
course,
there's
a
different
Dynamic
when
you
consider
validators,
but
I,
think
that
that
reputation
is
kind
of
what
matters
most
and
in
this
kind
of
censorship
resistant.
You
know
personally,
I
don't
want
ethereum
to
turn
into
this
like
money
chasing
protocol
right
and
it's
not
that
Financial
token
holders
and
ethereum
or
etholders
shouldn't
have
a
say
necessarily.
D
C
Yeah
the
Catalyst
for
this
is
potentially
the
the
stable
coin
issuers
who
select
like
this
ofac
compliant
chain
and
only
allow
redemptions
on
that
chain,
and
then
you
know
we
see
it.
We
see
a
ton
of
volume
flood
over
to
that
that
censored
chain
in
order
to
have
a
reliable,
back
and
forth
with
the
stable
coin
issuers.
Since
you
know
they're
providing
a
financial
stake
that
underpins
that
chain,
and
that
leaves
you
know
an
open
void
for
kind
of
like
the
censorship
resistant
chain
to
have.
C
You
know
its
own,
its
own
governance
process
and
they
have.
In
that
case
you
know
two
two
independent
chains.
Yet
is
there
really
a
reason
to
have
all
that
volume
on
that
chain?
There's
it
seems
like
there's
a
better
way
to
organize
kind
of
the
collective
those
who
wish
to
comply
versus
those
who
wish
to
remain
censorship.
Resistant,
you
know,
still
combine
the
liquidity
in
some
way,
shape
or
form,
and
have
you
know
the
sensor?
C
F
But
for
me
the
biggest
issue
is
Elon.
Musk
once
said,
the
the
government
is
a
car,
a
corporation
that
has
a
monopoly
on
violence
and
in
it
funnily,
in
in
a
documentary
I
just
watched
last
week
and
someone
else,
the
journalist
said
it
as
well.
He
just
replaced
violence
with
legitimate
power
and
it
made
me
think
like
basic
and
wizag,
they
they
say
jump
and
we
we
almost
outright
ask
how
high
it's
like.
We
can
try
and
adapt.
F
You
know
there
are
a
few
Minds
in
history
that
have
said
intelligence
is
your
ability
to
adapt,
but
it's
one
thing
for
you
to
adapt
in
nature.
It's
another
thing
to
adapt
against
another
intelligent
being
like
yourself.
Then
it's
an
endless
death
spiral
because
they
they
they
will
always
change
regulations
so
that
you
are
illegal.
Then
what
do
you
do
that
you
basically
are
getting
cornered?
It's
like
playing
chess
against
someone
who
defines
the
rules
of
chess,
and
this
is
what
scares
me.
C
C
C
The
government
can
simply
change
the
rules
of
Chess
and
then
we
have
to
comply
or
do
we
wish
to
remain
immutable,
and
you
know
not
not
real
and
just
live
by.
You
know
solidified
rules
and
then
it's
very
clear.
You
know
what
to
live
by
and
what's
it
not,
but
then
we
were.
We
remove
or
decrease
the
level
of
adaptation
that
we
that
we,
you
know
each
have
and
kind
of
like
that,
that
that
level
of
flexibility
and
and
freedom
that
we
have
to
to
maneuver
and
adapt
it's
yeah.
F
F
D
I
just
wanted
to
quickly
comment
on
what
you
said
before:
Rob,
not
to
Segway
or
can
I
derail
Nathan,
but
just
kind
of
highlighting
how
you
kind
of
said
the
dynamic
between
the
Dao
and
the
community
kind
of
moves
into
itself.
It's
kind
of
like
the
the
oroborus
dynamic
or,
like
the
Dao,
governs
the
community
directs
the
community,
but
the
community
controls
the
Dao.
So
it's
like
kind
of
this.
You
know
infinite,
of
course,
not
to
plug
infinite
again,
but
it's
this
kind
of
infinite
Dynamic,
where
it's
like.
D
C
C
You
know
if
there's
a
financial
stake
and
then
the
the
absolute
majority,
if
there's
not
and
I'm
fairly,
certain
like
this
ofac
decision
was
chosen
by,
like
you
know,
maybe
12
people
in
a
room
to
represent,
like
you
know
the
one
person,
okay
well,
yeah,
that
call
it
call
it
centralization.
You
know,
so
you
know
they're
they're,
making
decisions
to
represent
like
the
the
entire
global
population.
C
Like
you
know,
this
oh
factless
impacts,
not
just
Americans,
but
it
impacts
people
worldwide,
and
you
know,
people
that
are
members
of
digital
nation
states
as
well
and
I
mean
you
know
all
of
us
in
in
this.
In
this
room,
this
digital
room,
we,
you
know,
we
understand
and
I.
My
opinion
is
agree
with
the
elements
of
decentralization
as
a
valuable
tactic,
to
remove
malicious
actors
or
at
least
mitigate
them.
Yet
the
government
just
hasn't
caught
on
and-
and
that's
just
you
know,
I
guess
the
traditional
politicians.
C
You
know
those
actors
who
are
who
are,
you
know,
still
hold
this
Monopoly
on
on
legitimate
power,
or
at
least
you
know,
are
at
the
the
fingertips
of
violence.
You
know
they
have
violence
at
their
fingertips.
They
they
still
whether
it's
a
whether
it's
a
individualistic
Monopoly
that
they
wish
to
cling
on
to
you
know:
Nathan.
You
mentioned
kind
of
Nash
equilibrium
that
you
know,
even
though
it's
for
decentralization
is,
you
know
best
for
the
collective
good.
C
You
know
these
people
in
power
don't
wish
to
establish
it,
since
it
would
effectively
remove
their
power.
And,
ultimately,
you
know,
like
all
of
us
in
this
room,
understand
and
agree
that
decentralization
is
the.
Is
the
solution
to
the
centralized
attack
vectors
yet
that
that
solution
still
hasn't
made
its
way
up
to
you
know
the
executive
branch
or
and,
and
you
know
the
White
House
or
DC
whatever
you
want
to
call
it
well
I'm
hopeful
that
you
know
kind
of
a
new,
a
new
era.
C
This
new
generation
of
you
know
kind
of
digital
Nomads,
but
also
those
who,
just
generally
understand
the
benefits
of
decentralization,
can
start
to
educate
those
in
office.
As
you
will
and
like
those
with
you
know,
governmental
power
about
the
benefits
and
the
value
of
decentralization
so
that
we
don't
see
these
centralized
choke
points
which
could
pave
the
way
for
malicious
actors
to
take
advantage
of
of
the
collective.
F
D
I
think
you
kind
of
mentioned,
like
government
Authority
and
like
the
centralization
of
the
decision-making
process
in
kind
of
I,
guess
referring
to
the
United
States,
but
maybe
more
globally.
It's
really
an
interesting
topic
and
it's
like
can:
can
the
globe
effectively
become
a
Dao
like?
Can
you
have
the
entire
world
operating
one
single
Dao
on
behalf
of
the
planet?
Can
you
have
you
know
countries
operating
on
their
own
Dows?
D
Of
course
this
is
very
forward
thinking
of,
but
we
actually
did
have
an
ex-contributor
Caden
that
used
to
contribute
to
DX
style
that
wrote
A
series
called
why
Dows
and
part
two
of
that
series.
He
kind
of
titles,
the
New
World
Order,
if
I
remember
correctly,
and
it's
kind
of
the
power
of
international
Dao's,
it's
like
having
a
dow
on
like
a
country
level,
remedy,
International
kind
of
like
disputes,
coordination
failures
like,
for
example,
the
global
climate
crisis.
D
You
know
pollution
security,
I
think
that's
kind
of
like
an
interesting
thing
to
kind
of
look
to
Awards
and
it's
like.
Will
the
people
in
power
let
it
come
to
a
stage
where
the
people
can
even
make
those
decisions,
or
is
there
some
other
system
that
kind
of
remedies
that,
in
the
long
term,
that's
kind
of
a
good
introspective
thing,
I
think
to
kind
of
think
about.
C
I'll
I'll
give
them
a
look,
and
you
know
with
regards
to
America's
government,
specifically
I
I've
heard
it
coined
as
like,
more
reactionary,
where
America
will
kind
of
waits
for
something
bad
to
happen
and
then
go
back
and
fix
it
rather
than
you
know,
have
the
forward-looking
approach
to
to
proactively
search
out
a
solution
and
prevent
the
problem,
and
you
know
I
think
what
you're
talking
about
is
especially
important
kind
of
as
we
look
to
like
interplanetary
societies.
You
know,
if
you
know,
let's
say
20
years
down
the
line.
C
However
long
down
the
line,
people
are
living
on
Mars,
you
know
like
the
people
on
Earth
need
to
band
together.
You
know
to
support
those
on
mars
or
defeat
those
who
are
maliciously
attacking
us
from
some.
You
know
unbeknownst
world.
That's
way
out
there
right
now
and
has
malicious
actors,
so
you
know
ultimately
we're
all
in
this
together.
So
you.