Why Are We Here? Crypto-Anarchism Explained | Arjun Bhuptani
Arjun gives one of the best non-technical talks at the Bankless Summit that everyone in crypto needs to hear. Do you know why you’re here? Arjun explains the first principle concept of Crypto-Anarchism.
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------ RESOURCES
Arjun Bhuptani https://x.com/arjunbhuptani
Presentation Slides https://docs.google.com/presentation/d/1rwqPdrljsFpZvGCxwEwkYpCAX7mFlGS4/edit?usp=sharing&ouid=118091317616904257032&rtpof=true&sd=true
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Seamless Crosschain Interactions with Connext: The HTTP of Web3
Today we're joined by Arjun Bhuptani, founder and CEO of Connext Labs. We get an in-depth look at Connext, an important component in the Web 3 stack. In a world of many Layer 1s and Layer 2s, connecting the chains is so important, especially doing it in a secure way. We get into how they approach security, we dive into the nuance of Vitalik's post on bridging, we talk about rollups-as-a-service, how Connext abstracts away the hassle from a user standpoint around interacting with multiple chains, their proposal for bridged assets, as well as they're recent launch and so much more. But first, Arjun tells us about what he's focused on at Connext.
Chapters
0:50 What is Arjun focused on?
1:37 History of Connext
4:26 Arjun's vision on Web3
8:42 Improving UX
12:54 Connext Users
14:55 Bridging
18:05 Where does Connext fit in Web3?
20:25 Connext Security
24:46 Connext Roadmap
27:33 XRC20
32:10 Competition
37:22 $NEXT Launch
40:41 $NEXT Utility
44:23 Connext DAO
46:24 What surprised Arjun the most
49:30 Decentralization
53:08 How is Arjun Defiant?
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Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky - Ep.336
Arjun Bhuptani, founder of Connext and bridging expert, breaks down the Ronin bridge exploit that led to a hacker stealing $600 million+ and discusses different bridge designs that could limit future attacks. Show highlights:
how a hacker was able to drain more than $600 million from Ronin bridge
the difference between DeFi hacks and the Ronin bridge exploit, which was a social-engineering based attack
why multisig bridges are susceptible to social engineering attacks
why Arjun believes the Ronin hacker is a sophisticated entity
whether Sky Mavis will be able to reimburse users
the different attack vectors for cross-chain bridges
what Arjun thinks about different bridge designs
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
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Episode Links
Arjun Bhuptani
Twitter: https://twitter.com/arjunbhuptani
Ronin Hack
Latest update from Ronin
https://twitter.com/Ronin_Network/status/1509284549020188672
https://twitter.com/Psycheout86/status/1509134627319033863
Community alert explaining the hack:
https://roninblockchain.substack.com/p/community-alert-ronin-validators?s=w
Etherscan of the hack taking place
https://etherscan.io/address/0x098b716b8aaf21512996dc57eb0615e2383e2f96
Reactions
Mudit Gupta – the hacker is sophisticated
https://twitter.com/Mudit__Gupta/status/1508868214075310091
Arjun Bhuptani – why multisig bridges are vulnerable
https://twitter.com/arjunbhuptani/status/1508861771595059205
https://twitter.com/arjunbhuptani/status/1508861771595059205
Ed Zitron – social engineering
https://ez.substack.com/p/the-infinite-exploitation-of-cryptocurrency
Information on Ronin
https://twitter.com/joel_john95/status/1486809221962289154
Why bridging is hard
https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17
Arjun’s latest article on Optimistic bridges
https://twitter.com/arjunbhuptani/status/1509582024104939523?t=4HCssiWfO5v65ehXRnWL3A&s=19
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The Great L2 Migration | Cross-Chain L2 Panel
We think 2022 is going to be a huge year for Layer 2 scaling solutions. Cross-Chain protocols will be a crucial infrastructure for the great migration to L2s, allowing users to bridge assets across platforms.
Composability and user experience is the glue of modular blockchains, which optimize for decentralization, scaling, and cost. The projects and representatives each present cryptographic solutions for building a web of liquidity across the many suburbs of DeFi, where average users will live and engage.
GUESTS:
Ben Jones - Optimism https://twitter.com/ben_chain?s=20
Hart Lambur - UMA https://twitter.com/hal2001?s=20
Arjun Bhuptani - Connext https://twitter.com/arjunbhuptani?s=20
Chris Whinfrey - Hop Protocol https://twitter.com/WhinfreyChris?s=20
Vaibhav Chellani - MOVR https://twitter.com/vaibhavchellani?s=20
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----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures