We had an absolute blast at ETH Warsaw! 🚀 This epic event, organized by passionate local Ethereum enthusiasts, electrified the community with support for blockchain and Web3 technologies. Coinciding with the inaugural Warsaw Blockchain Week, it played a pivotal role in solidifying Poland's position as a thriving blockchain hub within the EU.
The conference itself was a diverse playground of ideas, with six tracks covering everything from DeFi to Governance, offering something for everyone in the dynamic Web3 landscape.
L2s were a primary focus with sponsors like Scroll, zkSync, Mantle, and Lukso dominating a lot of the conversations. Overall, the event had a stronger turnout than the previous year.
ETH infinite scalability is a hoax
We had a good laugh and learn, hosting the 'Quo Vadis EVM L2s' panel at a side event led by WOO Network and Redstone, where we joined the banter and lively debates among passionate developers, which embody the vibrant crypto spirit driving Ethereum growth. There was also some delicious pierogi for the guests to enjoy, capturing the spirit of local cuisine.
The panel Patrick McCorry from Arbitrum, Toghrul Maharramov from Scroll, and Marcin Kazmierczak from RedStone focused explored topics such as EVM efficiency, layer 2 solutions, and the potential role of sharding in enhancing network scalability.
Right at the beginning of the talks, they all agreed that the EVM's nine-year development has rendered it battle-tested, providing a protective barrier for new languages and enhancing its resilience over non-EVM competitors. They weren’t afraid to make jokes about various competing ideas, showing the spirited but collaborative mindset the Eth community has developed. Healthy competition, not toxic tribalism.
No such thing as infinite scalability
One of the most noteworthy perspectives came from Patrick and Toghrul, who emphasized the importance of not getting overly obsessed with transactions per second (TPS) and infinite scalability in blockchain networks. Key points were that such a singular focus could potentially jeopardize essential elements like security, decentralization, and the overall health of the network.
Toghrul brought attention to the downsides of pursuing infinite scalability without discretion, emphasizing the need for a well-balanced approach to blockchain development. He urged us to carefully weigh the trade-offs involved in achieving scalability while upholding the core principles of a strong and sustainable blockchain ecosystem.
The need for more efficient and scalable Oracle solutions
Meanwhile, Marcin raised a key concern about Oracle systems creating resource strain and increased costs when trying to feed data into each network. He said these solutions should be capable of providing data to multiple Layer 2 networks simultaneously while reducing operational overhead and costs associated with data delivery. Redstone released a 30-page research report on Real World Assets (RWAs), which are predicted to be a major driving force in the next market cycle. Oracles are the key to connecting RWAs with decentralized finance infrastructure, or even derivative listings on CeFi exchanges. They could make crypto more resistant to extended bear markets, giving investors markets to trade even when their altcoin bags are underperforming.
The sharding vs. rollup rumble
Patrick McCorry shook things up answering the audience's question, “Could sharding make Layer 2 solutions obsolete?” The idea was that sharding could lessen the reliance on Layer 2 solutions, which currently handle scalability concerns.
However, Patrick highlighted the efficacy of the current roll-up approach, where each roll-up already operates as a specialized shard. His viewpoint doesn't outright dismiss sharding but hints at a more balanced path. A blend of rollups and sharding could be the key, to preserving the benefits of both methods and mitigating potential complications. This viewpoint reflects a pragmatic approach, acknowledging the complexities of Ethereum's scalability quest.
Onboarding new users
In the second panel, titled "Onboarding new users from Trading & DevRel perspectives," the discussion centered on blockchain marketing strategies, featuring our very own Ben Yorke, Bianca Buzea from Lukso, and Corina from Beehive Consulting, with moderation by Marcin Kazmierczak of RedStone.
The conversations highlighted a shift in hiring criteria, with a greater emphasis on individuals well-versed in web3 dynamics rather than traditional backgrounds. Additionally, the role of influencers was explored, noting that Web3 users demand authenticity, which necessitates alignment between influencers and brand values for meaningful connections.
ETH Warsaw was a hit! brought together crypto buffs – builders, founders, and educators – as it was also the inaugural Warsaw Blockchain Week. It marked a milestone in the crypto realm, setting the stage for more exciting strides ahead.
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