Permissionless II: Bear Conference explores opportunities in crypto space

Author: Mippo, blockworks Source: X (original Twitter) @MikeIppolito_ Compiler: Shan Oppa, Golden Finance

Permissionless II was a classic Bear conference. Full of Alpha opportunities, for builders only, focused on the biggest opportunities in cryptocurrency.

Here are my views so far:

1. Blockchain design is converging

Blockchain ecosystems were originally designed for different optimization goals (e.g. Ethereum, Cosmos, Solana). Now, as they become more mature and consider expansion, they are starting to encounter problems that other ecosystems have already solved.

With the launch of OP Stack, Optimism now faces classic Cosmos problems (value capture, coordinated upgrades, interoperability, etc...). Soon they will be forced to deal with classic Solana problems (optimizing for low latency, high throughput, etc...). Conversations that were once siled across different ecosystems are now beginning to resonate.

For example:

• PEPC & ABCI++

• Law of Chains & AEZ

• LSM & Two Tiered Staking

We cover all of this in this great panel with @aeyakovenko, @buchmanster and @ben_chain.

2. Regulation is not over in the United States

In the United States, regulatory progress has been slow. The good news is that we have extraordinary public service workers working tirelessly to do our jobs.

@RyanSAdams hosted an excellent panel on this issue, along with @KMSmithDC, @HesterPeirce, @GOPMajorityWhip, and @BrianQuintenz.

in short:

-Gary Gensler’s behavior was outrageous

- We are not out of the woods yet, but things are getting better

- There has been some progress

3. Data availability remains a bottleneck

4844 is coming, which is a good start but not a complete solution. The exact impact remains to be determined and is not yet understood. For example, there will now be two markets. One for blockspace and another for blobspace.

Nonetheless, eventually data availability issues will be resolved. This will be achieved through further upgrades such as danksharding and a combination of other providers such as EigenDA, Espresso, Celestia or others. This will make Rollups the best version of themselves.

@TrustlessState covers all of this in an excellent panel with @dankrad, @preston_vanloon, and @adietrichs. Thanks also to @YairCoronel_S who provided a more detailed summary than I just gave.

Finally, my favorite talk of the day was probably the session opener from @ErikVoorhees. The wild swings in cryptocurrencies make it easy to get caught up in the details and forget why we are all here. Eric reminded us in clear and concise language. If you need some bear market inspiration, check out this talk. There's a lot more to it than that, but to keep it brief, I'll end it here.

Thanks to everyone who participated and we look forward to seeing you again tomorrow.