Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Dan Elitzer

๐Ÿ‘ค Speaker
264 total appearances

Appearances Over Time

Podcast Appearances

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Absolutely.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

But I think it's also unrealistic to say that we're going to have, even if we'd

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Ethereum had executed perfectly, right?

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

We scaled L1 much better.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

We actually have canonical bridges with all these L2s on Ethereum and we got all the stuff we want from that roadmap.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

There are still going to be other chains, right?

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

There's too much incentive to have multiple L1s that are making different design trade-offs and different go-to-market trade-offs, different trust trade-offs.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

And...

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

because we're going to have meaningful assets on multiple chains, there's going to need to be some way to connect those.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Could we connect them better?

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Yes, but it's not all going to happen natively within one L1 plus its own native L2 ecosystem.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

We have to have solutions that are reasonable solutions to use to bridge assets across much more kind of varied chains.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Yeah.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Yeah.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

But I think even that, though, it's not guaranteed free from failure.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Right.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

There could be problems in the ZK cryptography or in the implementation, any additional layer of complexity, more things can break.

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

And so I think we just need to do a better job of

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

of both pricing that risk that's coming in and also building in layers of redundancy, right?

Bankless
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

One of the things that the Athena team did, they are also using layer zero.