57 - Ultra Sound Money | Justin Drake

<p>Justin Drake is a researcher at the Ethereum Foundation and is leading the charge of applied cryptography to the Ethereum network. Last time he was on the podcast, we discussed cryptography as the foundation for what we called ‘Moon Math.’</p> <p>This week, Justin returns to the show to discuss Ethereum’s economic engine and how its design decisions (EIP-1559, Proof-Of-Stake, Issuance, etc.) emerges as an incredibly bullish evolution of sound money: Ultra Sound Money.<br /> ------<br /> 🚀 SUBSCRIBE TO NEWSLETTER: <a href= "https://newsletter.banklesshq.com/">https://newsletter.banklesshq.com/</a> <br /> 🎙️ SUBSCRIBE TO PODCAST: <a href= "http://podcast.banklesshq.com/">http://podcast.banklesshq.com/</a> <br /> ------<br /> GO BANKLESS WITH THESE SPONSOR TOOLS:</p> <p>⭐️ AAVE - BORROW OR LEND YOUR ASSETS<br /> <a href= "https://bankless.cc/aave">https://bankless.cc/aave</a> </p> <p>🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP<br /> <a href= "https://bankless.cc/go-gemini">https://bankless.cc/go-gemini</a> </p> <p>💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS <a href= "https://bankless.cc/monolith">https://bankless.cc/monolith</a> </p> <p>📱 DHARMA - MOBILE ONRAMP DIRECTLY INTO DEFI<br /> <a href= "https://bankless.cc/dharma">https://bankless.cc/dharma</a> <br /> ------</p> <p>🎙️ 57 - Ultra Sound Money | Justin Drake</p> <p>Last time Justin was on the Bankless podcast, we went in-depth about cryptocurrency's primitive tools: cryptographic hashes and signatures. He described these as the fire and wheel of cryptography technology. This time, we dive into the specific economic design of the Ethereum network and how it is positioned to expand upon the 'stone-age' cryptography of Proof of Work.</p> <p>Given Ethereum's expressive capabilities, its future has infinite possibilities in terms of both innovation and development. To explore Ethereum's value proposition as Ultra Sound Money, we use the model of the Ethereum Economic Engine. In this metaphor, the basic energy harnessed is monetary value, stored in