This week on The Defiant Podcast we speak with Ben Edgington, the product owner of Teku, an Ethereum 2.0 enterprise client being developed at ConsenSys.
It’s been a week since Ethereum switched from Proof-of-Work (PoW) to Proof-of-Stake (PoS) and Ben has been heavily involved in the process. We start our conversation by taking a look at the aftermath of the Merge.
Ben comes from the traditional software world where companies have more efficient structures. He shares his thoughts on having a major update like The Merge go through without a hitch, especially in a space where working environments are less hierarchical.
One of the biggest criticisms of The Merge was that Ethereum under PoS would become centralized. Proof-of-stake enables individuals to delegate their ETH to entities that stake on their behalf, as running a node might be inconvenient or infeasible. We discuss how roughly half of the staked Ether is currently held by a handful of validators and what Ben thinks about this.
The Merge turned out to be a ‘sell the news’ event as the price of ETH continues to plummet after the upgrade. We talk about the potential reasons for recent market action including the absence of a common narrative to look forward to and the macro backdrop.
Finally, Ben shares his thoughts on the future of Ethereum and what comes next, now that the Merge is complete.
🎙Listen to the interview in this week’s podcast episode here:
📺 Watch the video here:
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