Is Canton a Real Blockchain? | Canton Founder Yuval Rooz
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What is the main topic discussed in this episode?
The second you have the world real world, unfortunately, you open yourself to censorship resistance by the issuer.
What is the origin of the Canton Network?
It doesn't matter that you put it on a decentralized infrastructure. And Ryan, David, do you guys use stable coins?
Yeah, of course.
You do? Cool. Okay. Well, the issuers of those stable coins are pretty confident having the smart contract, a feature that allows them either to freeze your stable coins or to, in some cases, even burn them out of your wallet. So what does it matter that it runs on permissionless infrastructure? I mean, there are reasons why it's good that it runs on permissionless infrastructure, but you're not getting what Vitalik is putting in his post.
Thank you so much for having me. Where did Canton come from? Because all of a sudden, there is a multi-billion dollar network on the scene with some pretty impressive BD partnerships. And I had no idea.
How does Canton prioritize privacy in transactions?
So where did Canton come from?
Yeah, so first of all, thank you again for having me. I'm really excited. And, you know, funny story. I was driving in Canada in the snow while listening to your end of year recap. And I have to say it meant to be because there was one point where you were talking about stocks. And then you said, well, in the beginning of the year, we're going to talk. And just before you said that, I was about to pause, stop the car. and take a note to talk to you guys about that. And then you said, oh, we're going to be talking to you about.
What is the two-tier architecture of Canton and its significance?
So I was like, that's perfect timing. But we're not the parent company of Canton, but we'll talk about that in more detail. But long story short, you know, I started my career at Citadel, then moved to DRW Trading, which owns Cumberland Mining. And I was fortunate enough to help start their venture team at around 2012. And my co-founder, Eric, helped start Cumberland at DRW. And we started looking into this space very early on. And, you know, we had a thesis very early on that everything will move on-chain. And, you know, I think that to us, what it meant is that in order to move everything on-chain, you need to solve for privacy. And this is already at around 2015, 16. But reality, and this is our view, and, you know, time will tell if we took the right approach, was that to move financial services on chain, and we can talk about what we mean by that, is going to take time.
What are the debates surrounding real-world asset property rights?
And it's not something that can happen overnight. And it requires really careful thinking about what is the problem that you're trying to solve? Who are you trying to solve it for? And, you know, what is needed to do that?
What role do Canto super-validators play in the network?
And the approach we took was an extremely conservative approach, which was build the technology, test it actually within walled gardens, do not launch a network. And I'll explain in a second why. And only after you prove the underlying mechanics of the architecture and kind of like, what does it mean to build decentralized infrastructure that can allow for all types of financial services? And again, we can talk about what that means. in more detail, only then we actually start thinking about the coin economics. How do you launch the network? So start working on Canton, you know, in full speed around 2016, had the first version of Canton in 2020. Between 2020 to 2023, it was a lot of different tests of Canton, different throughputs, different use cases.
And it's only in 2023 that we actually launched the network in the U.S. under Gansler. We did a fair launch. And that's maybe just the quick intro to what we've done.
What are the critiques of the Canton Network?
That's also kind of the surprising thing. So I think maybe what might have been funny to you when you heard me react to the existence of this like $3 billion network that I had never heard of is that, well, you had also started it like almost a decade ago. And you were doing all of this work prior in closed doors behind, you know, closed doors. And then you're doing the token thing last, which is when a lot of the crypto natives pay attention because like, oh, now it shows up on CoinGecko. So now it's like real to us. But nonetheless, a lot of work had been done behind the scenes at least.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:09
2
What is the origin of the Canton Network?
0:09–1:17
3
How does Canton prioritize privacy in transactions?
1:17–1:52
4
What is the two-tier architecture of Canton and its significance?
1:52–2:58
5
What are the debates surrounding real-world asset property rights?
2:58–3:12
6
What role do Canto super-validators play in the network?
3:12–4:22
7
What are the critiques of the Canton Network?
4:22–5:44
8
Can decentralized real-world assets (RWAs) exist?
5:44–1:30:22
Speakers
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