WEBVTT 1 00:00:00.040 --> 00:00:03.040 One of the great features of the monat blockchain. It's 2 00:00:03.200 --> 00:00:06.799 very fast. I read ten thousand transactions per second. How 3 00:00:06.799 --> 00:00:09.480 are you able to achieve that but also maintain security. 4 00:00:09.640 --> 00:00:11.839 That's actually one of the hardest problems to solve, like 5 00:00:11.919 --> 00:00:14.640 being able to have both speed and security at the 6 00:00:14.679 --> 00:00:17.839 same time. We know this because of the blockchain trilemma 7 00:00:17.879 --> 00:00:20.440 that has been touted for several years. At this point, 8 00:00:20.640 --> 00:00:24.039 monid is different because it is no longer bound by 9 00:00:24.039 --> 00:00:26.600 the same constraints that other chains are. 10 00:00:31.879 --> 00:00:34.439 This episode is brought to you by I Trust Capital. 11 00:00:34.600 --> 00:00:37.399 I Trust Capital allows you to invest in crypto as 12 00:00:37.439 --> 00:00:40.320 well as precious metals like gold and silver via an 13 00:00:40.399 --> 00:00:43.880 IRA and this gives you huge tax advantages, so you 14 00:00:43.920 --> 00:00:48.320 can invest in over ninety crypto assets, including bitcoin, e Theorem, 15 00:00:48.520 --> 00:00:51.439 x RP, Solana, and many more. You also get access 16 00:00:51.479 --> 00:00:54.880 to stable coins such as Circles USDC and Ripples r 17 00:00:55.039 --> 00:00:58.039 l USD. 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Again, 54 00:02:45.439 --> 00:02:47.680 you can get one hundred dollars funding bonus by signing 55 00:02:47.759 --> 00:02:50.439 up via my link, which is I Trustcapital dot com 56 00:02:50.479 --> 00:02:52.400 slash Go slash Thinking Crypto. 57 00:02:52.680 --> 00:02:54.039 Link will be in the description. 58 00:02:54.240 --> 00:02:57.199 Hey everyone, welcome into the Thinking Crypto podcast. I'm your 59 00:02:57.199 --> 00:03:00.120 host Tony Edward and we're recording at Station three in 60 00:03:00.159 --> 00:03:03.439 New York's Financial District. And joining me is Unice Giata, 61 00:03:03.520 --> 00:03:06.599 who is the co founder of the Monad Foundation. Now. 62 00:03:06.639 --> 00:03:10.919 The Monad Foundation is an independent organization dedicated to supporting 63 00:03:11.199 --> 00:03:15.400 the development and adoption and growth of the monat blockchain protocol. 64 00:03:15.680 --> 00:03:22.039 We'd focus on speed, decentralization, EVM compatibility, and security. Unis 65 00:03:22.240 --> 00:03:22.919 great to have you. 66 00:03:23.199 --> 00:03:24.560 Thanks for having me, Tony. It's great to be. 67 00:03:24.599 --> 00:03:27.479 Here, Unis. I am excited to chat with you. Last 68 00:03:27.560 --> 00:03:29.599 year there was a lot of news around Monad and 69 00:03:29.719 --> 00:03:32.199 I'm excited to dive into the details. But let's kick 70 00:03:32.240 --> 00:03:34.639 it off with your background. Where are you from? How 71 00:03:34.680 --> 00:03:36.120 the hell did you make your way into crypto? 72 00:03:37.360 --> 00:03:41.000 Yes, great question. It was a very circuitous route making 73 00:03:41.000 --> 00:03:43.840 my way to crypto. But I am a California native. 74 00:03:44.639 --> 00:03:47.400 I grew up in the Central Valley and was there 75 00:03:47.439 --> 00:03:51.319 all of my childhood, all the way through high school. 76 00:03:51.759 --> 00:03:54.599 And then I graduated high school, went to the East 77 00:03:54.680 --> 00:04:00.240 Coast for college, which is went to MIT, studied computer 78 00:04:00.319 --> 00:04:03.080 science and undergrad which is where I met Keoni Hahn, 79 00:04:03.199 --> 00:04:08.159 who is the co founder of Monad Foundation, alongside my work, 80 00:04:09.400 --> 00:04:13.759 and from there I went more into a typical path. 81 00:04:13.919 --> 00:04:16.399 This was I graduated in twenty thirteen, so this was 82 00:04:16.480 --> 00:04:20.560 like just around the first time that bitcoin was starting 83 00:04:20.560 --> 00:04:24.360 to get on folks's radars. Actually, a year after I 84 00:04:24.360 --> 00:04:30.920 had graduated, MIT actually gave every single student one hundred 85 00:04:30.959 --> 00:04:33.759 dollars worth of bitcoin in twenty fourteen. Yes, I just 86 00:04:33.879 --> 00:04:37.000 missed it, but you know what could have been. But 87 00:04:37.040 --> 00:04:40.480 I graduated and went into traditional finance. I worked as 88 00:04:40.560 --> 00:04:45.079 a rate exotics trader at BAA and then transitioned into 89 00:04:45.480 --> 00:04:49.720 technical product management and business development at a fintech company. 90 00:04:50.360 --> 00:04:51.920 Honestly just right up the street. I was at one 91 00:04:52.000 --> 00:04:57.199 forty Broadway and from there was continuing down the product 92 00:04:57.279 --> 00:05:02.560 route at Shutterstock. Then I pivoted entirely away from technology. 93 00:05:02.839 --> 00:05:06.040 I had a little bit of like a quarter life crisis, 94 00:05:06.560 --> 00:05:08.879 so to speak, and I worked at a restaurant, worked 95 00:05:08.879 --> 00:05:11.639 at Jean George as a chef de party in the 96 00:05:11.680 --> 00:05:17.319 pastry department just before the pandemic. Very wild, very different experience. 97 00:05:18.000 --> 00:05:20.399 But because the pandemic hit a year later, I found 98 00:05:20.439 --> 00:05:26.560 myself being blessed to evaluate the professional career all over again, 99 00:05:27.639 --> 00:05:29.839 and eventually I found my way into crypto because I 100 00:05:29.879 --> 00:05:33.879 had a lot of friends who from college or from 101 00:05:34.000 --> 00:05:38.040 professional life transitioning away from more of the traditional finance 102 00:05:38.120 --> 00:05:41.079 route into crypto, whether it was as a VC or 103 00:05:41.279 --> 00:05:44.600 as a crypto founder. So to me, that was like, okay, 104 00:05:44.639 --> 00:05:48.560 well either everyone's gone bat shit or there's like something 105 00:05:48.839 --> 00:05:51.639 real here. So I started doing my own research, learning 106 00:05:51.680 --> 00:05:55.360 a little bit more. I remember when Polygon was stillmatic 107 00:05:56.480 --> 00:06:01.319 and I came to discover smart contracts and was just 108 00:06:01.480 --> 00:06:05.399 floored by it. I remember in school there was a 109 00:06:05.439 --> 00:06:07.959 module and yeah, there was a module in school where 110 00:06:08.040 --> 00:06:12.600 we were talking about distributed computation and Ethereum was like 111 00:06:12.639 --> 00:06:16.240 bringing distributed computation to life. So I had no idea 112 00:06:16.240 --> 00:06:19.800 that smart contracts existed. I was fascinated and was like, Okay, 113 00:06:19.920 --> 00:06:22.279 there's something here, there's something real. I want to be 114 00:06:22.319 --> 00:06:25.720 a part of it. So fast forward to twenty twenty two, 115 00:06:26.160 --> 00:06:32.680 early twenty two, you know, previous college classmate Keoni and 116 00:06:32.759 --> 00:06:38.040 his co founder James Hunsaker, they were starting Monad. I 117 00:06:38.160 --> 00:06:42.720 was looking for potential opportunities to deep dive into and 118 00:06:42.759 --> 00:06:46.560 so I was brought on board. And that is the 119 00:06:46.600 --> 00:06:49.519 story of me getting into crypto and me being a 120 00:06:49.560 --> 00:06:50.920 part of the Monad story. 121 00:06:51.480 --> 00:06:54.399 So it's fascinating that you mentioned twenty twenty two, you know, 122 00:06:54.480 --> 00:06:57.560 with everything that happened and the gravitational pull of crypto 123 00:06:57.639 --> 00:07:00.439 brought you back in and now you're a fan, which 124 00:07:00.480 --> 00:07:03.920 is really cool. When you were a MIT because I 125 00:07:03.959 --> 00:07:07.399 remember hearing about courses at MIT around blockchain and crypto, 126 00:07:07.439 --> 00:07:10.879 and I think former SEC chair Gary Genser thought there, 127 00:07:11.040 --> 00:07:13.199 I think you might be back there, But was there 128 00:07:13.240 --> 00:07:16.279 any courses or anything happening there you when you were 129 00:07:16.279 --> 00:07:17.639 giving away to the bigcoin and so forth. 130 00:07:17.839 --> 00:07:21.480 Yeah, at the time of when I was there, none 131 00:07:21.519 --> 00:07:23.600 of those courses existed yet. For blockchain, I think it 132 00:07:23.759 --> 00:07:27.959 only started appearing thereafter. But I've actually had a few 133 00:07:27.959 --> 00:07:31.560 classmates who have gone back to a lecture for special 134 00:07:31.600 --> 00:07:34.439 series and things like that at the Salon School, so 135 00:07:34.680 --> 00:07:37.240 a little bit after my time, and I think is 136 00:07:37.279 --> 00:07:39.240 maybe why it took me so long to find my 137 00:07:39.279 --> 00:07:42.839 way into the blockchain space, because when I was just graduating, 138 00:07:42.839 --> 00:07:46.480 it was still kind of like a nascent technology. You know, 139 00:07:46.800 --> 00:07:50.680 people were using it for black market purchases and things 140 00:07:50.759 --> 00:07:53.000 like that, and it took me a while. It took 141 00:07:53.079 --> 00:07:55.480 me a while to circle back to the technology and 142 00:07:55.600 --> 00:07:57.720 look at it from a lens that wasn't as skeptical. 143 00:07:59.160 --> 00:08:01.920 So what's it like look looking back, given that you know, 144 00:08:01.959 --> 00:08:03.680 you saw a bit of it in the early days, 145 00:08:03.720 --> 00:08:05.879 bits and pieces along the way, and to see where 146 00:08:05.920 --> 00:08:08.800 it's at now. It's grown significantly as an acid class, 147 00:08:08.879 --> 00:08:11.560 as an industry and the technology is being used by 148 00:08:11.600 --> 00:08:13.160 the biggest institutions in the world. 149 00:08:13.360 --> 00:08:16.519 Yeah, I really really started taking a look at it 150 00:08:16.560 --> 00:08:20.160 with a closer look in twenty twenty one. So that's 151 00:08:20.199 --> 00:08:23.600 the perspective that I have, and of course anecdotally from 152 00:08:23.720 --> 00:08:26.600 the earlier days before that, but even within the past, 153 00:08:27.079 --> 00:08:29.160 you know, four years or so, it's four or five 154 00:08:29.240 --> 00:08:32.720 years ago, it's been fascinating to see the chain, sorry, 155 00:08:32.759 --> 00:08:36.120 the changes, the uptake. Yeah, and to your point, I 156 00:08:36.120 --> 00:08:40.360 think it's becoming more and more of a forcing function. 157 00:08:40.480 --> 00:08:46.559 Like you know, institutions, enterprises are not ignoring it anymore, 158 00:08:46.559 --> 00:08:50.120 but starting to consider what opportunities there there are for 159 00:08:50.840 --> 00:08:56.120 whether automating certain flows or breaking down some barriers to 160 00:08:57.360 --> 00:08:59.360 business use cases for blockchain. 161 00:09:00.559 --> 00:09:03.519 So tell us about Monad and what is it, what 162 00:09:03.639 --> 00:09:06.159 makes it unique? And you know, what's kind of the mission? 163 00:09:06.519 --> 00:09:09.600 Fundamentally, Monad's mission is to scale ethereum. That has been 164 00:09:09.679 --> 00:09:13.159 the mission from the very beginning when we first started 165 00:09:13.200 --> 00:09:15.559 out in early twenty two all the way to now, 166 00:09:15.600 --> 00:09:17.679 which I think is pretty cool that the mission has 167 00:09:17.799 --> 00:09:20.080 stayed the same for the past like four years of 168 00:09:20.120 --> 00:09:25.320 working on this project and technology. What makes it unique though, 169 00:09:25.360 --> 00:09:29.159 is the way in which we have in the way 170 00:09:29.159 --> 00:09:31.440 in which our team has been able to satisfy the 171 00:09:31.480 --> 00:09:34.399 scaling needs of Ethereum. And you know, we've seen a 172 00:09:34.440 --> 00:09:38.639 lot of conversation come about recently about the method by 173 00:09:38.639 --> 00:09:42.960 which Ethereum has chosen to scale up until now. But 174 00:09:43.039 --> 00:09:48.039 with Monad, the idea has always been fundamental performance at 175 00:09:48.080 --> 00:09:52.480 its core. So how that translates is introducing a new 176 00:09:52.480 --> 00:09:57.600 technology by having a new execution client and a net 177 00:09:57.600 --> 00:10:01.840 new consensus client from scratch. So the execution client is 178 00:10:02.159 --> 00:10:04.759 based off of the Ethereum Virtual machine written in C 179 00:10:04.879 --> 00:10:09.279 plus plus the consensus client written in REST. And what 180 00:10:09.360 --> 00:10:11.879 makes that unique is the fact that you can tap 181 00:10:11.919 --> 00:10:15.559 into the inherent performance that those languages afford as a 182 00:10:15.559 --> 00:10:16.720 part of the development cycle. 183 00:10:17.120 --> 00:10:20.279 Pardon the interruption. Hi, I'm Tony. I'm the host of 184 00:10:20.320 --> 00:10:22.799 the Thinking Crypto podcast. I wanted to ask you if 185 00:10:22.799 --> 00:10:25.200 you can please support the podcast by hitting the like 186 00:10:25.240 --> 00:10:27.799 button subscribing. If you haven't as yet, you can leave 187 00:10:27.799 --> 00:10:29.960 a comment below as well. And if you're listening on 188 00:10:29.960 --> 00:10:33.000 a podcast platform such as Spotify, Apple or wherever you 189 00:10:33.039 --> 00:10:36.000 get your podcasts, please be sure to follow and hit 190 00:10:36.039 --> 00:10:38.120 the five star rating. I'll let you get back to 191 00:10:38.159 --> 00:10:39.679 the content. Thank you so much. 192 00:10:40.279 --> 00:10:42.159 So a big question I think a lot of folks 193 00:10:42.159 --> 00:10:44.240 are going to have. Is this a layer two because 194 00:10:44.720 --> 00:10:48.240 monnat is stated as a layer one? So how is 195 00:10:48.279 --> 00:10:49.720 it helping etherorem to scale? 196 00:10:49.720 --> 00:10:49.799 Like? 197 00:10:49.879 --> 00:10:54.039 Is it running parallel on top below? What's the construct there? 198 00:10:54.159 --> 00:10:57.440 Yeah, Etheroreum is entirely a separate l one altogether, so 199 00:10:57.480 --> 00:11:00.080 it is not Ethereum. However, the virtual machine that that 200 00:11:00.919 --> 00:11:03.879 exists to run the blockchain is based off of the 201 00:11:03.919 --> 00:11:06.519 Ethereum Virtual Machine spec. In the same way that there 202 00:11:06.519 --> 00:11:11.320 are a couple of other alt EVM blockchains out there. Monad, 203 00:11:11.360 --> 00:11:15.159 I guess, would also be like an alt EVM blockchain. 204 00:11:15.320 --> 00:11:20.039 So what is cool about Monad's version of the EVM 205 00:11:20.080 --> 00:11:22.200 two is that it follows the spect to a t 206 00:11:22.519 --> 00:11:29.440 such that composability or rather portability of existing smart contracts 207 00:11:29.559 --> 00:11:33.279 that are deployed on Ethereum can seamlessly migrate to Monad 208 00:11:33.360 --> 00:11:35.039 with essentially no code changes. 209 00:11:35.960 --> 00:11:39.639 Very interesting. And then the protocol I read is monad 210 00:11:39.679 --> 00:11:43.960 bf T is that proof of steak or what is 211 00:11:43.960 --> 00:11:44.639 that product? Yeah? 212 00:11:44.639 --> 00:11:47.399 Great question. So the BFT part of Monad. BFT stands 213 00:11:47.399 --> 00:11:50.360 for a byzantine fault tolerant, and so it's a type 214 00:11:50.399 --> 00:11:54.159 of consensus mechanism basically, so mana BFT is the name 215 00:11:54.200 --> 00:12:01.440 of the consensus mechanism. It follows the assumptions and security 216 00:12:01.440 --> 00:12:05.120 guarantees that you get from BFT protocols. So that means 217 00:12:07.120 --> 00:12:12.039 for a network to continue to run and be maintained, 218 00:12:12.799 --> 00:12:17.200 two F plus one nodes must be healthy in comparison 219 00:12:17.240 --> 00:12:21.120 to an f number of faulty or bad nodes. So 220 00:12:21.159 --> 00:12:24.679 to speak, it basically means that it's very resilient to 221 00:12:25.360 --> 00:12:30.360 potential attacks, especially in the case of a decentralized network, 222 00:12:30.399 --> 00:12:36.279 which is something that Mona does support. The validator network 223 00:12:36.360 --> 00:12:42.120 right now supports about two hundred active validators in the 224 00:12:42.159 --> 00:12:45.279 active set, So those are the nodes that are not 225 00:12:45.320 --> 00:12:47.679 just participating in the network, but are also voting on 226 00:12:47.720 --> 00:12:51.480 behalf of the network. And it's all around the world, 227 00:12:51.480 --> 00:12:56.519 so geographically distributed, truly decentralized, and you gain security guarantees 228 00:12:56.679 --> 00:12:57.720 through those properties. 229 00:12:57.960 --> 00:13:00.840 So one of the great features of the monat blockchain 230 00:13:00.879 --> 00:13:04.879 it's it's very fast. I read ten thousand transactions per second. 231 00:13:05.399 --> 00:13:08.200 How are you able to achieve that but also maintain security. 232 00:13:08.399 --> 00:13:10.279 Yeah, that's a great question and that's actually one of 233 00:13:10.320 --> 00:13:13.879 the hardest problems to solve, like being able to have 234 00:13:13.960 --> 00:13:16.360 both speed and security at the same time. We know 235 00:13:16.440 --> 00:13:18.759 this because of the you know, the blockchain trilemma that 236 00:13:18.799 --> 00:13:22.480 has been touted for several years. At this point, monod 237 00:13:22.559 --> 00:13:25.600 is different because it is no longer bound by the 238 00:13:25.600 --> 00:13:30.320 same constraints that that other chains are in a sense 239 00:13:30.360 --> 00:13:34.039 that if we think about the trilemma, that's often because 240 00:13:34.120 --> 00:13:37.679 you're using the same code base, and so there's only 241 00:13:37.720 --> 00:13:40.039 a few triggers that you can change with with a 242 00:13:40.039 --> 00:13:45.240 given codebase. If you think about like a string, like 243 00:13:45.279 --> 00:13:48.159 a tide string with three different pegs of like you 244 00:13:48.200 --> 00:13:51.440 know the trilemma, if you pull on one peg to 245 00:13:51.480 --> 00:13:54.919 make it like U further from the center, then you 246 00:13:55.080 --> 00:13:58.240 have to inherently push in the other two pegs based 247 00:13:58.279 --> 00:14:02.039 on like the confines of that string. Now with MONAD, 248 00:14:02.080 --> 00:14:04.080 that string no longer applies, or rather, what we've been 249 00:14:04.120 --> 00:14:06.440 able to do, what the technology has been able to 250 00:14:06.440 --> 00:14:10.320 do is expand the parameter of that string. Because it 251 00:14:10.360 --> 00:14:13.840 is net new technology, it's a new clients for both 252 00:14:13.840 --> 00:14:17.519 consensus as well as execution. So the security guarantees that 253 00:14:17.519 --> 00:14:22.440 the new consensus mechanism provides is provided because of the 254 00:14:22.559 --> 00:14:29.639 communication optimizations that it inherently has. The way that the 255 00:14:29.720 --> 00:14:32.559 nodes come to consensus is way faster, the round trip 256 00:14:32.600 --> 00:14:35.360 times are much more efficient, and not only that, but 257 00:14:35.399 --> 00:14:38.080 there's also efficient message passing as well. So that's just 258 00:14:38.120 --> 00:14:41.000 a very high level way of breaking it down. 259 00:14:41.879 --> 00:14:45.279 Recently, Metallic Booter in twitted about roll ups and layer 260 00:14:45.399 --> 00:14:48.679 twos and that had a lot of people a bit 261 00:14:49.000 --> 00:14:53.799 confused and wondering what's happening. But it's also maybe confirmation 262 00:14:53.879 --> 00:14:56.679 of what Monad is doing as a layer one that 263 00:14:56.759 --> 00:14:59.720 is compatible with etherorem Do you think in the future 264 00:14:59.759 --> 00:15:02.200 give what Vitalic is saying, there's less layer twos and 265 00:15:02.240 --> 00:15:05.720 there's more parallel chains, so if you want to call 266 00:15:05.720 --> 00:15:06.080 it that. 267 00:15:06.159 --> 00:15:09.840 Like mona, potentially yes. I think it's very tricky to 268 00:15:10.039 --> 00:15:13.759 scale at the L one and that is probably why 269 00:15:13.759 --> 00:15:17.799 we've seen the methodology of scaling via L twos up 270 00:15:17.879 --> 00:15:23.240 until this point. The problems that Monad has solved is 271 00:15:23.279 --> 00:15:26.919 continuing to solve is hard and is challenging. So that 272 00:15:27.039 --> 00:15:29.480 might mean that the L twos that do stick around 273 00:15:29.559 --> 00:15:32.559 have to find the right type of PMF and we've 274 00:15:32.600 --> 00:15:36.759 seen some examples a few examples of like app chains 275 00:15:36.799 --> 00:15:39.519 that have been successful, So you know that that might 276 00:15:39.600 --> 00:15:42.879 be a round as well, But I fundamentally believe and 277 00:15:43.279 --> 00:15:47.039 what we're doing at MANA Foundation, we believe that ultimately 278 00:15:47.720 --> 00:15:54.200 the L one layer is going to be what facilitates 279 00:15:53.679 --> 00:15:57.840 the future of finance and the future of on chain 280 00:15:57.879 --> 00:16:02.039 activity because it provides the level of security guarantees that 281 00:16:02.080 --> 00:16:05.399 you need and that institutions may needed, and that enterprises 282 00:16:05.440 --> 00:16:08.960 may need. It provides a level of composibility as well, 283 00:16:09.639 --> 00:16:12.720 because if we continue to live in a world where 284 00:16:12.759 --> 00:16:16.879 app chains, sorry, where apps are extremely siloed from one another, 285 00:16:17.279 --> 00:16:21.039 the experiences and the benefits of being on chain are 286 00:16:21.159 --> 00:16:24.960 quite limited. So l ones afford a lot more than 287 00:16:25.519 --> 00:16:27.000 what an L two can afford. 288 00:16:27.600 --> 00:16:30.000 So dumb question for you, So make sure I wrap 289 00:16:30.039 --> 00:16:31.679 my head around it, and maybe for the viewers and 290 00:16:31.720 --> 00:16:35.519 listeners as well. So IFEMA has these layer twos and 291 00:16:36.240 --> 00:16:38.639 monad as a layer one, will they also have layer 292 00:16:38.679 --> 00:16:42.120 twos or how are you able to I guess segment 293 00:16:42.559 --> 00:16:45.759 the different businesses and institutions that are building on monad. 294 00:16:46.279 --> 00:16:48.960 How do they maintain privacy within what they're trying to 295 00:16:49.000 --> 00:16:51.320 do if they want to keep certain things private is 296 00:16:51.360 --> 00:16:55.000 it like side chains with it within mondad some whatever 297 00:16:55.039 --> 00:16:56.639 you want to call it. Is it kind of like that? 298 00:16:56.759 --> 00:17:01.759 Potentially? Ultimately Monada is pretty also in that there are 299 00:17:01.799 --> 00:17:05.200 opportunities to scale specifically at the L one level, but 300 00:17:05.240 --> 00:17:09.480 for business functions that might need a specific layer of privacy, 301 00:17:10.000 --> 00:17:13.279 or you know, like the way that Intranet exists for 302 00:17:13.400 --> 00:17:17.279 certain companies versus the Internet. That's kind of like a 303 00:17:17.319 --> 00:17:20.519 separate chain that might be able to communicate back with 304 00:17:20.599 --> 00:17:22.720 a bridge or something back to the main chain. That 305 00:17:22.759 --> 00:17:25.039 could be a possibility right now, though, the focus for 306 00:17:25.079 --> 00:17:29.079 a mono foundation is making sure that the primary mon 307 00:17:29.119 --> 00:17:33.680 Ad L one chain is performant and has all of 308 00:17:33.720 --> 00:17:40.160 the needs and fundamental expectations for most, if not all, 309 00:17:40.279 --> 00:17:40.839 use cases. 310 00:17:41.400 --> 00:17:43.359 So let's talk abouit about the use cases. What are 311 00:17:43.359 --> 00:17:46.880 you seeing folks build on mondad? Is it a tokenization, 312 00:17:48.319 --> 00:17:50.960 I don't know, whatever else stable coins or whatever may be. 313 00:17:51.559 --> 00:17:52.720 What type of things are you seeing? 314 00:17:52.920 --> 00:17:55.359 Yeah, I think it's a combination of a lot of things. Okay, 315 00:17:55.960 --> 00:17:57.880 but two of the things that stand out to me 316 00:17:58.000 --> 00:18:01.880 right now, both from like where I imagine will continue 317 00:18:01.880 --> 00:18:06.680 to progress and what seems to be grabbing people's attention 318 00:18:06.799 --> 00:18:10.319 right now is one high frequency finance or what we're 319 00:18:10.359 --> 00:18:14.599 calling high frequency finance to mean, uh, the adoption and 320 00:18:14.720 --> 00:18:19.400 migration of mainstream finance flows on chain. So this could 321 00:18:19.440 --> 00:18:23.839 be you know, pretty complex things like global payments or 322 00:18:23.920 --> 00:18:28.440 cross border remittances, you know, treasury management, things along those lines. 323 00:18:29.160 --> 00:18:31.799 And then we're also seeing a lot of AI use 324 00:18:31.839 --> 00:18:35.119 cases and crossovers. So I think that there may be 325 00:18:35.160 --> 00:18:37.440 a future and we're already seeing snippets of this of 326 00:18:37.519 --> 00:18:43.240 like autonomous agents acting on behalf of users or institutions 327 00:18:43.279 --> 00:18:46.759 and managing certain you know flows. Of course, I think 328 00:18:46.759 --> 00:18:50.799 there's some uh, there's some needs to ensure that those 329 00:18:50.839 --> 00:18:55.960 agents operate with a certain level of risk parameterization and compliance, 330 00:18:56.160 --> 00:18:58.480 but I think we can definitely get there. 331 00:18:58.920 --> 00:19:01.880 Yeah, for sure. I I'm excited to see how AI 332 00:19:02.000 --> 00:19:05.200 agents are going to operate with the blockchain tech integrated. 333 00:19:05.720 --> 00:19:08.519 You know, I've talked a lot of folks about this. 334 00:19:09.039 --> 00:19:10.720 They're not going to use cash, obviously, they're going to 335 00:19:10.799 --> 00:19:13.200 use stable coins and steal payments, samely with humanoid robots 336 00:19:13.240 --> 00:19:15.720 and not gonna run around with cash or something you 337 00:19:15.759 --> 00:19:17.960 can have like a crypto wall. They're built in and 338 00:19:18.400 --> 00:19:19.720 running on blockchain. 339 00:19:19.319 --> 00:19:22.680 Rails right, And actually that's something pretty exciting with manad 340 00:19:22.680 --> 00:19:27.279 as well. MANA as a protocol supports both ERC eight 341 00:19:27.359 --> 00:19:29.720 y or zero four as well as the x flour 342 00:19:29.799 --> 00:19:33.240 or two standard. It enables trustless agents as well as 343 00:19:33.880 --> 00:19:38.519 this payment standard that AI agents could potentially utilize. So 344 00:19:39.000 --> 00:19:40.079 it's a pretty cool unlock. 345 00:19:40.400 --> 00:19:44.920 Yeah, it's exciting new world. I can imagine having multiple 346 00:19:44.960 --> 00:19:48.000 AI agents going out and doing things for me while 347 00:19:48.000 --> 00:19:50.960 I'm sleeping as well, and then having a humanoid robot 348 00:19:51.160 --> 00:19:54.200 which is also using the same tech going to home 349 00:19:54.240 --> 00:19:57.119 depot and get and getting me something. So it's pretty 350 00:19:57.160 --> 00:20:01.680 wild to think about that. I read recently that there 351 00:20:01.759 --> 00:20:05.119 is a multi Verse hackathon to tell us about that. 352 00:20:05.160 --> 00:20:10.920 The idea behind multiverse is to be a playground for experimentation, 353 00:20:11.480 --> 00:20:16.599 to see how agents act and are enabled by a 354 00:20:16.680 --> 00:20:23.039 chain that has in some sense like boundless creative potential 355 00:20:23.240 --> 00:20:27.839 by having that element of high performance, low fees, and 356 00:20:28.799 --> 00:20:31.160 hopefully an element of fun, and just see what happens. 357 00:20:32.160 --> 00:20:37.480 So we've seen that generally in the crypto world. They 358 00:20:37.480 --> 00:20:40.839 said Ethereum is the enterprise chain, while Solana is the 359 00:20:40.880 --> 00:20:45.319 retail chain. Where does monad fit is it targeting all 360 00:20:45.359 --> 00:20:48.960 these use cases, and while it's a decentralized network, anybody 361 00:20:49.000 --> 00:20:54.000 can come build things. What is the foundation targeting specifically. 362 00:20:53.480 --> 00:20:56.519 Yeah, I think we're excited about different ways in which 363 00:20:56.559 --> 00:20:59.599 people can use Monad as a blockchain. So it's neither 364 00:20:59.640 --> 00:21:03.160 one thing or another, but we have pretty strong convictions 365 00:21:03.160 --> 00:21:07.400 that Monad is a great chain for high frequency finance, 366 00:21:07.440 --> 00:21:12.079 and that might look like a combination of enterprise oriented 367 00:21:12.200 --> 00:21:16.119 or institutionally focused flows. But at the same time, you know, 368 00:21:16.119 --> 00:21:19.319 we're seeing, uh, we're seeing a lot of interest in DeFi, 369 00:21:19.680 --> 00:21:21.960 and DeFi continues to be the bread and butter of 370 00:21:22.000 --> 00:21:25.039 what makes cryptos so interesting and unique right now, but 371 00:21:25.319 --> 00:21:30.000 maybe the transition is now a metamorphosis of what DeFi 372 00:21:30.079 --> 00:21:34.079 looks like to begin with. And then in the agentic space, 373 00:21:34.640 --> 00:21:37.119 you know, we're also seeing a good number of folks 374 00:21:37.119 --> 00:21:40.240 who are coming in from maybe more of an exploratory perspective, 375 00:21:41.000 --> 00:21:45.599 others who might be looking for utility plays in in 376 00:21:45.640 --> 00:21:49.960 deploying l l ms in a decentralized manner and seeing 377 00:21:49.960 --> 00:21:53.400 how different clusters can work together in a distributed manner. 378 00:21:54.160 --> 00:22:01.200 So yeah, I think the the TLDR there is why 379 00:22:01.240 --> 00:22:01.680 not both? 380 00:22:02.519 --> 00:22:06.640 Oh, absolutely, I'm excited to see what additional use cases 381 00:22:06.880 --> 00:22:10.920 pop up in Web three. Obviously we've had NFTs, we've 382 00:22:10.960 --> 00:22:14.119 had I think we're seeing healthcare and different industries start 383 00:22:14.160 --> 00:22:17.240 put data on the blockchain. Now this is a hard question. 384 00:22:17.880 --> 00:22:21.359 It's twenty thirty five. What does Web three and crypto 385 00:22:21.480 --> 00:22:22.880 look like as far as adoption? 386 00:22:23.240 --> 00:22:27.519 Yeah, I think if we're if we continue on the 387 00:22:27.519 --> 00:22:30.240 trend that we're seeing now, it's going to be pretty 388 00:22:30.279 --> 00:22:33.440 much ingrained in how we operate. And it might also 389 00:22:33.559 --> 00:22:35.720 be ingrained in a way that we don't even know 390 00:22:36.200 --> 00:22:40.119 it exists. For example, the world Wide Web. You know, 391 00:22:40.200 --> 00:22:43.200 the Internet HDP is a protocol, but I think most 392 00:22:43.240 --> 00:22:44.880 of us don't know how it works, and yet we 393 00:22:44.920 --> 00:22:46.880 are able to benefit from it on a day to 394 00:22:46.960 --> 00:22:49.680 day basis. I think it might look like that in 395 00:22:49.720 --> 00:22:54.240 many ways. And so examples of that are X four 396 00:22:54.240 --> 00:22:57.039 O two is an example, just extracting away some of 397 00:22:57.079 --> 00:23:02.119 the manual steps of needing to specify payment or something 398 00:23:02.119 --> 00:23:04.480 along those lines. Of course, like there's parameterization that needs 399 00:23:04.480 --> 00:23:06.359 to be put in place, and that's something that I 400 00:23:06.359 --> 00:23:10.079 think we will need to figure out as we go 401 00:23:10.799 --> 00:23:13.480