Shows
The Kusep. 183 - Web3 Meets Web2: Polkadot’s Secret to Onboarding Millions w/ Gautam DhamejaJoin us on Space Monkeys as we blast off with Gautam Dhameja, founder of Blockdeep Labs, a driving force in the Polkadot ecosystem. Discover how Polkadot is flipping the script—bringing Web3 to Web2—to onboard millions of users seamlessly, from Mythical Games’ 6.2M+ users to Vbrick’s enterprise video revolution. Gautam plunges into blockchain’s role as a verification machine (not a database!), the power of parachains, and why even JAM blockspace might get crowded in 5 years. Plus, get the scoop on Epico, JAM, and a mysterious big announcement coming soon! Don’t miss this deep dive into Polkadot’s f...2025-03-1640 min
The KusWeb3 Builders: ep. 21 - Nicholas Douzinas & Gautam Dhameja: Gaming at Scale - Web3 & Gamers - - Behind the CodeKey Pictures presents: Nicholas Douzinas, Chief Gaming Officer of DOT Play & Gautam Dhameja, Founder of BlockDeep Labs.
Nick & Gautam discuss the progress & evolution of gaming with the scaling capabilities of Polkadot. We explore the Ajuna, Mythical Games & redefining Web3 for the gamer audience.
Follow The Kus!2024-10-2625 min
BlockShots: Blockchain SimplifiedEpisode 116 - Parallel Execution in BlockchainsTraditionally blockchains execute transactions sequentially. Some of the newer chains have been trying parallel execution of transactions to improve blockchain performance. In this episode we understand what are parallel transactions and how they work. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2024-04-1503 min
BlockShots: Blockchain SimplifiedEpisode 115 - Real World Asset TokenisationIn this episode we understand what are real world assets and why they are being tokenised. What are real world assets?Any thing of value that has been generated or created in the real world before being represented digitally.For example: Fiat currencies, Art, Commodities, etc.Benefits of tokenisation: Enhanced liquidity, easier trade, easier record keeping and tracking of ownership. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2024-04-0804 min
BlockShots: Blockchain SimplifiedEpisode 114 - The Dencun UpgradeAfter a brief break, we are back with new episodes.Ethereum recently upgraded to a new update called Dencun. In this episode we understand what this update is and how it is important.9 different updates clubbed together. Biggest and most important — introduction of blobs. Protodanksharding. Reduce transaction fee on rollups by providing cheaper data availability. EIP 4844. No fee reduction on Ethereum L1 transactions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2024-04-0104 min
BlockShots: Blockchain SimplifiedEpisode 113 - What is Restaking?Restaking is staking of already staked tokens. But how is the possible?If tokens are staked for one purpose — providing econoimic security for consensus of a network — they could be further staked to provide security to other networks or apps.The process of restaking works by overriding the withdrawal and slashing conditions of user’s staked tokens.Listeners are encouraged to also check out the Episode 22 where Proof of Stake and Staking are explained. This is a public episode. If you would like to discuss this with other subscribers or get access to...2024-02-1203 min
BlockShots: Blockchain SimplifiedEpisode 112 - Modular BlockchainsModular blockchains has been one of the buzz words in the last year. In this episode, let’s understand modularity in blockchains.In the beginning, consensus and execution were part of the same blockchain like Ethereum 1.0. Then execution was decoupled and put into rollups. Then came the need for storing rollup data in the L1. And then we got DA layers as separate networks.Now we have consensus on L1, execution on L2, and data on DA layers. This is how we have modularised the blockchains. This is a public episode. If yo...2024-02-0504 min
BlockShots: Blockchain SimplifiedEpisode 111 - What are Altcoins?In this episode, we understand what are altcoins?Altcoin was first used for any coin other than bitcoin. But the definition has evolved a bit among different circles in the crypto land. Listen to the full episode to explore the topic in detail. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2024-01-2902 min
BlockShots: Blockchain SimplifiedEpisode 110 - Orphan or Uncle BlocksIn this episode, we understand what are orphan or uncle blocks. This is more of a Proof of Work related concept where two blocks are produced at the same time. One of them becomes part of the chain - based on the longest chain consensus rule - while the other becomes and orphan (Bitcoin) or uncle (Ethereum 1.0) block.Listen to the full episode to understand what eventually happens to these blocks and transactions inside them. This is a public episode. If you would like to discuss this with other subscribers or get access to...2024-01-2303 min
BlockShots: Blockchain SimplifiedEpisode 109 - On-chain vs Off-chain GovernanceIn this episode, we understand the two ways of doing blockchain governance - on-chain and off-chain.When the decisions to update the blockchain software are driven by processes off the chain (online forums, meetups, etc.) then it leads to off-chain governance.When the decisions are made using a voting process that is recorded on the blockchain (as transactions) and when the update of the blockchain is driven via this voting, then it is on-chain governance. This is a public episode. If you would like to discuss this with other subscribers or get...2024-01-1503 min
BlockShots: Blockchain SimplifiedEpisode 108 - Fork Choice RuleA fork choice rule is part of the blockchain consensus mechanism and it is used to find out the canonical chain for adding new blocks.Fork choice rule becomes relevant when there is a fork caused by network partition or two blocks being produced at the same time. A fork could also happen when there are dishonest validators in the network.When validators produce new blocks, they need to identify which block should be the parent of the block being produced. To find the parent block, validators have to run a function to find out...2024-01-0803 min
BlockShots: Blockchain SimplifiedEpisode 107 - Are Rollups also Blockchains?Rollups are L2 scaling mechanisms where transaction execution is done offchain in the rollup node or sequencer. The state is updated on the L1 based on this execution. Rollup nodes also publish transaction data “rolled up” as batches and blocks on the L1 chain.When it comes to following the blockchain data structure of adding the reference of previous (parent) block to the next block — rollups do that.But the representation of blocks and consensus on L2 could be different. In addition sequencers could just be centralized in some rollups.Hence, rollups do use some c...2023-12-1803 min
BlockShots: Blockchain SimplifiedEpisode 106 - What is Liquid Staking?When users stake their tokens to provide security and validation in a PoS network, those tokens are locked for the duration of staking. The users can’t use staked tokens for anything else. This is native staking.In Liquid Staking, a liquid token is generated and given to the user in return of staked tokens for the duration of staking. The liquid tokens could be used in some scenarios like DeFi, effectively making the staked tokens useful while staking. This is a public episode. If you would like to discuss this with ot...2023-12-1104 min
BlockShots: Blockchain SimplifiedEpisode 105 - What is Data Sharding?Sharding in blockchain is of two types — execution sharding and data sharding. There could be other types in the future, the crypto space evolves quickly.In episode 41, what I explained was primarily execution sharding. Where the transaction execution is divided across several sub-chains for faster throughput.https://episodes.blockshots.fm/p/episode-41-blockchain-sharding#detailsHowever, Ethereum has moved away from the execution sharding roadmap and is now moving towards data sharding. In data sharding, the validators form smaller subnets (shards) to verify and validate chunks of data posted by the rollups. Hence d...2023-12-0405 min
BlockShots: Blockchain SimplifiedEpisode 104 - Data Availability SamplingTo scale blockchains, we need scalability solutions like rollups. To make sure that the rollups are doing the right thing, we need data availability. And to ensure that data availability is done right, we need data availability sampling.This episode explains data availability sampling at a high level and tries to paint a bigger picture on how some of the above mentioned concepts are connected.For details, I encourage to check out the article linked below:https://www.paradigm.xyz/2022/08/das This is a public episode. If you would like...2023-11-2704 min
BlockShots: Blockchain SimplifiedEpisode 103 - What are Validiums?Validiums are L2 scaling solutions similar to ZK Rollups with a basic difference that they use a separate data availability layer instead of posting rollup data on the execution layer (Ethereum mainnet).Validiums also use ZK proofs to prove state transition validity to the L1. Similar to ZK Rollups, Validiums post the validity proof on the Ethereum mainnet (execution layer). However, unlike ZK Rollups, they don’t post the rollup transaction data on Ethereum mainnet. Instead, they post the data on a separate data availability layer.This allows validiums to scale more than ZK Rollups, be...2023-11-2004 min
BlockShots: Blockchain SimplifiedEpisode 102 - What is Blobspace?There is a new term in the crypto land — blobspace.Before understanding blobspace, let’s first do a quick refresher on data availability. Check out Episode 88 of the podcast.https://episodes.blockshots.fm/p/episode-88-what-is-data-availability#detailsData availability is about making the L2 block data available on the L1s. For Optimistic rollups — to build fraud proofs. For ZK Rollups — to know the state transitions.How do we make data available? By posting it on the L1 chain. Currently it is being posted as a hack — utilising the CALLDATA field in Ethereum transaction fo...2023-11-1304 min
BlockShots: Blockchain SimplifiedEpisode 101 - What is Blockspace?Just a couple of days ago, in a work call, someone asked me the difference between blockchain and blockspace.Blockspace is a bit of a abstract concept. The capacity to fit transactions in a block.Check out episode 44 for a overview of block limits.https://episodes.blockshots.fm/p/episode-44-block-gas-limit-block#detailsBlockspace is a higher lever concept that refers to the overall capacity of the blockchain to process transactions and data, per block.When we evaluate blockchains, looking from the blockspace perspective can be useful.If...2023-11-0604 min
BlockShots: Blockchain SimplifiedEpisode 100 - Summary of Bitcoin WhitepaperIn this 100th episode we do something special. We look at the Bitcoin whitepaper and summarize the key points. We understand what are the design goals and the problems to solve for Bitcoin.You can read the full Bitcoin whitepaper here - https://bitcoin.org/bitcoin.pdf.Thank you for your support till 100 episodes. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-10-3005 min
BlockShots: Blockchain SimplifiedEpisode 99 - Latency Vs. ThroughputIn this episode we understand what is latency in blockchains and how it relates to throughput. We also look at various factors and variables impacting the latency and throughput in blockchains.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-10-2304 min
BlockShots: Blockchain SimplifiedEpisode 98 - Intents Vs. TransactionsIn this episode we understand what are Intents in blockchains and how they are different from transactions. We also understand the different usage and needs of intent based approach in designing blockchain applications.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-10-1604 min
BlockShots: Blockchain SimplifiedEpisode 97 - What are ASICs?In this episode we understand what are ASICs (Application Specific Integrated Circuits) and why they are used in Bitcoin and other crypto mining. We also understand their relation with the hash power based proof of work systems.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-10-0904 min
BlockShots: Blockchain SimplifiedEpisode 96 - UTXO Vs. Accounts ModelIn this episode, we understand the two state models in blockchains - UTXO and Accounts based. Bitcoin uses the UTXO model while Ethereum uses the accounts model. Let’s understand what these are and what are the differences between them.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-10-0204 min
BlockShots: Blockchain SimplifiedEpisode 95 - Tradeoffs With Block FinalityIn this episode, we do one more dive into the topic of block finality and discuss the various tradeoffs associated with achieving fast finality. We also discuss some factors impacting finality, and how they further impact our applications.For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-09-2504 min
BlockShots: Blockchain SimplifiedEpisode 94 - Probabilistic Vs. Deterministic FinalityIn this episode we continue the discussion on block finality and understand two different types of finality - Probabilistic Vs. Deterministic. We also look at how these two are applicable in different kind of consensus systems.For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-09-1804 min
BlockShots: Blockchain SimplifiedEpisode 93 - What Is Block Finality?In this episode, we understand what is finality in blockchains and why is it needed. We look at a few scenarios where the concept of finality plays an important role in determining the state of the blockchain.For more details, check out the blog post here - https://www.gautamdhameja.com/instant-finality-feature-or-bug/Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-09-1104 min
BlockShots: Blockchain SimplifiedEpisode 92 - Delegated Proof of Stake (DPoS)In this episode, we understand what is Delegated Proof of Stake (DPoS) consensus mechanism and how it is different from normal Proof of Stake. Check out episode 22 first to get the best out of this one.https://episodes.blockshots.fm/p/episode-22-proof-of-stake-492Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-09-0404 min
BlockShots: Blockchain SimplifiedEpisode 91 - Account AbstractionIn this episode, we understand what is Account Abstraction and how it can make user experience much more simpler and easier.To get the best out of this episode, it is encouraged that you check out the following two episodes first.https://episodes.blockshots.fm/p/episode-8-accounts-and-keys-15dhttps://episodes.blockshots.fm/p/episode-63-not-your-keys-not-yourMusic: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-08-2804 min
BlockShots: Blockchain SimplifiedEpisode 90 - Decentralized Social NetworksIn this episode, we learn about what are Decentralized Social Networks and how they work. We also understand the issues with current centralized social networks and how decentralization solves some of them. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-08-2104 min
BlockShots: Blockchain SimplifiedEpisode 89 - Fractional NFTsIn this episode, the topic is Fractional NFTs. Fractionalization of NFTs allows low barrier partial ownership of NFTs. The episode goes into explaining what is partial ownership and how do Fractional NFTs enable it.Previous episodes about NFTs:https://episodes.blockshots.fm/p/episode-31-non-fungible-tokens-nfts#detailshttps://episodes.blockshots.fm/p/episode-69-how-nfts-work#detailsMusic: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-08-1404 min
BlockShots: Blockchain SimplifiedEpisode 88 - What is Data Availability?This episode covers the famous data availability problem in blockchains and how it impacts the security and verifiability among different kinds of scaling and synchronization techniques. This one is slightly more technical. It is recommended that you check out the Light Clients and Rollups episodes before listening to this one.https://episodes.blockshots.fm/p/episode-49-light-clients#detailshttps://episodes.blockshots.fm/p/episode-46-rollups#detailsMusic: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to...2023-08-0704 min
BlockShots: Blockchain SimplifiedEpisode 87 - BRC20 Tokens on BitcoinIn this episode, we understand what are BRC20 tokens and how they work. They are based on the Bitcoin ordinals and it is recommended that you listen to the Ordinals episode before listening to this one.https://episodes.blockshots.fm/p/episode-78-bitcoin-ordinals#detailsMusic: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-07-3103 min
BlockShots: Blockchain SimplifiedEpisode 86 - ERC20 and Token StandardsThis episode covers blockchain token standards, how they came up, and what do they solve. It also covers what are ERC20 tokens and why they are so popular.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-07-2404 min
BlockShots: Blockchain SimplifiedEpisode 85 - Multiparty Compute (MPC)In this episode, the topic is Multiparty Compute (MPC). We go into some basic explanation of what MPC is, how it works, and how it is used as a security measure for crypto wallets.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-07-1704 min
BlockShots: Blockchain SimplifiedEpisode 84 - Unstoppable ApplicationsIn this episode, the topic is Unstoppable Applications. We understand how applications dependent on others’ platforms and infrastructure can be stopped and how decentralized systems make them unstoppable.To learn how to build Unstoppable Applications and blockchains and the core concepts behind them, do check out Polkadot Blockchain Academy. See more information at the following links.https://linktr.ee/polkadotblockchainacademyhttps://polkadot.network/development/academy/https://www.youtube.com/@polkadotblockchainacademy This is a public episode. If you would like to discuss this with other subscribers or get access to...2023-07-1004 min
BlockShots: Blockchain SimplifiedEpisode 83 - AppChainsThis episode is about AppChains - blockchains designed and built for specific application needs. Understand how AppChains are different from smart contract platforms and what problems they solve.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-07-0305 min
BlockShots: Blockchain SimplifiedEpisode 82 - Smart Contracts Development: How is it different?In this episode, we do a slightly tangential topic about how smart contracts development is different from conventional software development. This stems from the last few episodes covering virtual machines and blockchain attacks. These create special conditions for execution of smart contacts. Let’s understand that.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-06-2604 min
BlockShots: Blockchain SimplifiedEpisode 81 - MEV BoostIn this episode, we understand MEV Boost - a protocol to reduce the bad effects of MEV. The episode goes a bit deep into how MEV boost works and how it distributes the MEV opportunities and value among all parties. This one is a bit more deep into tech.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-06-1904 min
BlockShots: Blockchain SimplifiedEpisode 80 - How MEV WorksIn this episode we do a double click on how MEV works and who gets to make the profit when there is an opportunity. The episode also covers behind-the-scenes components of MEV with clear explanation of the entire process flow.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-06-1204 min
BlockShots: Blockchain SimplifiedEpisode 79 - What's a 51% Attack?In this episode, the topic is another one of blockchain attacks - the 51% Attack. The episode covers what is this attack, how it effects the blockchain consensus systems, and what is the effect on users and applications.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-06-0504 min
BlockShots: Blockchain SimplifiedEpisode 78 - Bitcoin OrdinalsIn this episode the topic is the newly famous Bitcoin ordinals. We understand what are ordinals and how they enable NFTs on the Bitcoin blockchain. We also understand the basics around the ordinal theory.You can also read more about the ordinal theory here - https://docs.ordinals.com/Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-05-2904 min
BlockShots: Blockchain SimplifiedEpisode 77 - What's a DDoS Attack?In this episode, we understand what is a distributed denial-of-service (DDoS) attack and how it is relevant in context of blockchains. We also understand how DDoS attacks have negative impact on the functioning of blockchains.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-05-2204 min
BlockShots: Blockchain SimplifiedEpisode 76 - What is EVM?In this episode, we understand what is the Ethereum Virtual Machine (EVM) and how it works in the Ethereum blockchain. We also look at how the EVM makes sure all nodes reach consensus while running on different kinds of hardware.It is recommended that you listen to the previous episode about virtual machines to better grasp the concepts in this episode.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-05-1504 min
BlockShots: Blockchain SimplifiedEpisode 75 - Virtual Machines and BlockchainsIn this episode, we understand what are virtual machines and how they are relevant in terms of blockchains, decentralized systems and consensus mechanisms. This will help build a foundation to understand other related concepts like EVM in later episodes.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-05-0804 min
BlockShots: Blockchain SimplifiedEpisode 74 - Staking vs. Yield FarmingIn this episode, we clarify what are Staking and Yield Farming, and how they are different from each other.Staking — Generally related to Proof of Stake systems. The block rewards get distributed to the stakers. If the block producer don’t follow the rules, stakers risk losing the stake and the rewards.Yield Farming — Generally related to DeFi. Users provide liquidity to pools and exchanges, and they get returns. These returns come from a share in the exchange fee, interest from loans, etc. In staking, you risk losing your stake if you or the block produ...2023-05-0104 min
BlockShots: Blockchain SimplifiedEpisode 73 - How AMMs WorkIn this episode, let’s find out how AMMs work, how the price and formulae for liquidity is determined, and what happens when the liquidity changes.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-04-2404 min
BlockShots: Blockchain SimplifiedEpisode 72 - A Refresher on AMMsInitially, I wanted to do a double click on AMMs and how they work. But first I thought I should do a bit of a refresher with my new understanding of AMMs. In this episode, I have explained them with some new examples too.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-04-1704 min
BlockShots: Blockchain SimplifiedEpisode 71 - What is Tokengating?These days the term ‘Tokengating’ has been going around quite a bit. In this episode, let’s understand what tokengating is and how it works.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-04-1004 min
BlockShots: Blockchain SimplifiedEpisode 70 - 5 NFT Use-casesIn the last episode, we understood how NFTs work. In this one, let’s explore top five use-cases of NFTs. From gaming to identity to real estate, let’s understand how NFTs could be used to represent several things on blockchains with full transparency.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-04-0303 min
BlockShots: Blockchain SimplifiedEpisode 69 - How NFTs WorkIn this episode, let’s understand how NFTs work and how different components come together to create them. There is a lot going behind the scenes from where the assets are stored to how they are linked with their token identity.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-03-2704 min
BlockShots: Blockchain SimplifiedEpisode 68 - Use-cases of Zero Knowledge ProofsIn the last episode, we learned about how zero knowledge proofs work. In this episode, let’s go a step further and explore some of their use-cases. Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-03-2004 min
BlockShots: Blockchain SimplifiedEpisode 67 - How Zero Knowledge Proofs WorkIn this episode, let’s do a double click on Zero Knowledge Proofs. Let’s understand how they work and how they are implemented for blockchains. This episode goes slightly deeper into the ZK stuff, but still in a easy to understand language.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-03-1304 min
BlockShots: Blockchain SimplifiedEpisode 66 - Fraud Proofs and Validity ProofsIn the last episode, we touched on how rollups work. In this episode, we go a step further. Let’s understand what are Fraud and Validity proofs and how they are used in rollups.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-03-0604 min
BlockShots: Blockchain SimplifiedEpisode 65 - How Blockchain Rollups WorkIn the episode 46 of Block Shots, we did a brief introduction of blockchain rollups. In this episode, we go a bit deeper into how rollups work and what components are involved in the block production and verification of rollup blocks.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-02-2704 min
BlockShots: Blockchain SimplifiedEpisode 64 - What's a MetaverseYou must have heard about the term Metaverse quite a bit in the last few months, ever since NFTs became famous. In this episode, let’s try to explore the most basic understanding of Metaverse and how does blockchain come into the picture.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-02-2004 min
BlockShots: Blockchain SimplifiedEpisode 63 - Not your Keys, Not your Crypto!You must have heard this phrase quite a few times — Not your keys, not your crypto. Let’s find out, in this episode, what it actually means and how it effects you and your crypto currency holdings.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-02-1304 min
BlockShots: Blockchain SimplifiedEpisode 62 - How Smart Contracts WorkSmart contracts are simply code stored and executed on a blockchain. But how do they work? What happens when a user sends a transaction to deploy or execute a smart contract? Let’s find out in this episode.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-02-0605 min
BlockShots: Blockchain SimplifiedEpisode 61 - Blockchain GamingMost of us are fans of computer or online gaming. In this episode, we discuss how blockchains make gaming more fun and fulfilling. They also allow different revenue streams though novel economic models in the world of gaming. Let’s explore.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-01-3004 min
BlockShots: Blockchain SimplifiedEpisode 60 - Soul Bound TokensIn this episode, the topic is Soul Bound Tokens. In the most basic sense, they are just non transferable NFTs. However, SBTs open up quite a few interesting use-case cases for blockchains. Listen to the episode to learn more about what are Soul Bound Tokens and how they could be used in several blockchain applications.Vitalik’s blog post about SBTs - https://vitalik.ca/general/2022/01/26/soulbound.htmlMusic: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bo...2023-01-2304 min
BlockShots: Blockchain SimplifiedEpisode 59 - Directed Acyclic Graph (DAG)In this episode, we cover Directed Acyclic Graph or DAG.In blockchain, we have blocks as collection of transactions and the current block references the previous one, and a chain is formed.In DAG, we don’t have any blocks. Transactions directly reference previous transactions. The nodes verify the previous transactions by referencing them in new transactions.When a new transaction is submitted to a DAG, some previous transactions are referenced in it. Music: https://www.purple-planet.com This is a public episode. If you would like to dis...2023-01-1604 min
BlockShots: Blockchain SimplifiedEpisode 58 - IPFS and Decentralized File StorageIn this episode, we cover Inter-planetary File System (IPFS) and decentralized file storage protocols in general. We also take a slightly deeper look into how IPFS works.* NFT storage. Metadata storage of on-chain assets.* Distributed, cannot be controlled by single organization.* Censorship resistant.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-01-0904 min
BlockShots: Blockchain SimplifiedEpisode 57 - Verifiable CredentialsIn this episode, we cover Verifiable credentials. These are a standard to represent digital credentials that could be issued for an identity by an identity, and could be verified cryptographically.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2023-01-0205 min
BlockShots: Blockchain SimplifiedEpisode 56 - Decentralized Identifiers (DID)We need a standard for representing identity on decentralized systems to use our decentralized identity across several applications. Decentralized Identifiers or DIDs allow users and applications to represent and use identity related information in a reusable and app or platform agnostic manner.DIDs are described in a DID document. So, the main identifier is the DID, and the associated metadata is stored in the DID document.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to b...2022-12-1904 min
BlockShots: Blockchain SimplifiedEpisode 55 - Self Sovereign IdentitySelf-sovereign Identity paradigm refers to identities owned by people themselves without depending on centralized systems or organizations.Facebook, Twitter, LinkedIn, GitHub are all centralized identity platforms. Identities created by these platforms are not exportable or usable across apps. Not in user’s control.Self-sovereign Identity (SSI) is about getting users the control on their identity using decentralized systems.Users create and own their identities on blockchains. They prove ownership using cryptographic signatures. They hold private and PII data in their identity wallets. They could use their identity across several app without copying or cr...2022-12-1204 min
BlockShots: Blockchain SimplifiedEpisode 54 - Automated Market Makers (AMM)In this episode, we cover Automated Market Makers or AMMs. Traditionally exchanges are based on order books. Buyers and sellers are matched with quantity and price in their orders.AMMs are different. They use a conversion formula for trades. They use decentralized liquidity pools for liquidity.Any user can send one asset and get another asset from AMM, as long as there is a liquidity pool with enough liquidity in it.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this...2022-12-0504 min
BlockShots: Blockchain SimplifiedEpisode 53 - Front-runningIn this episode, we discuss Front-running of transactions in blockchains. It is the most common type of MEV. We also touch on Back-running and Sandwich attacks.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2022-11-2804 min
BlockShots: Blockchain SimplifiedEpisode 52 - Maximal Extractable Value (MEV)In this episode, we cover Maximal Extractable Value (MEV) and how it works.Miners or Validators are responsible for selecting and including the transactions in a block. They are free to choose any transactions from the mempool. Miners can choose not to select certain transactions. They can also manipulate the order of transactions. This leads to MEV.Music: https://www.purple-planet.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2022-11-2105 min
BlockShots: Blockchain SimplifiedEpisode 51 - Censorship ResistanceIn this episode, we cover what makes Blockchains and decentralized systems censorship resistant.Centralized systems are owned or controlled by organizations. They could limit the usage of some actors depending on local laws. Decentralized systems are not controlled by any single party. They are made equal for everyone, based on the rules of the network. No local laws apply. Users could send their transaction to several nodes, and one of them would include it in a block. No user is disallowed to use the system.Music: https://www.purple-planet.com 2022-11-1404 min
BlockShots: Blockchain SimplifiedEpisode 50 - Zero Knowledge ProofsBlockchains are built for transparency and verifiability. Most of the data on a blockchain is publicly verifiable. For example, all transactions sent to bitcoin are public and anyone could query the balance of any account. Generally, this is not an issue because blockchain accounts are random strings and it is not easy to link an account to a human. This property of blockchains is also called pseudo anonymity. However, sometimes we need privacy on blockchains for some use cases. For example, let’s say two supply chain participants want to transact over a blockchain and they don’t wan...2022-11-0704 min
BlockShots: Blockchain SimplifiedEpisode 49 - Light ClientsIn the episode 3 of the podcast, I covered different kind of blockchain nodes and one of them is light client. In this episode, I’ll cover light clients in a bit more detail. Light clients are special in the sense that they allow more decentralization. Unlike full nodes, light clients do not process all the transactions and blocks. They only synchronize block headers and are much light in terms of resource usage. Any user could run a light client without using any specialized hardware or servers. Music: https://www.purple-planet.com This is a...2022-10-3104 min
BlockShots: Blockchain SimplifiedEpisode 48 - Blockchain BridgesThere are different blockchains built to serve different kind of users and use-cases. Bitcoin is for peer to peer transfer of currency while Ethereum is a smart contracts platform. Flow is for NFTs while ZCash is for private transactions. What if applications and users on these blockchains need to interact or integrate with each other?Imagine a use-case where a smart contract on Ethereum, on successful execution, needs to transfer some bitcoin from one account to another on the Bitcoin blockchain.This is where blockchain bridges come into the picture. Bridge allow message passing between...2022-10-2404 min
BlockShots: Blockchain SimplifiedEpisode 47 - Lifecycle of a BlockA block is a collection of transactions and some metadata. Let’s take a look at how a block is produced. Let’s just assume that according to the algorithm we already have the node (validator or miner) selected to produce the next block. The first thing that this block producer node would do is to choose which block to build on. Remember blockchain is a chain of blocks. For each new block we need to refer to the hash of the previous block. Hence, the node would first choose or select which block to build on. Recal...2022-10-1704 min
BlockShots: Blockchain SimplifiedEpisode 46 - RollupsRollups are layer 2 blockchain scalability solutions where the execution of transactions is moved off the main blockchain. Basically, the layer 1 chain is used for keeping the ledger state and providing consensus, while the off-chain layer 2 framework — rollup-is used to execute the transactions and submit the updated state to layer 1.This approach decouples the work to store the ledger state and execute transactions between the layer 1 and layer 2 respectively. The way it helps achieve scalability is by executing many more transactions within the same block period. The users send transactions to the rollup. The rollup gets the pre...2022-10-1004 min
BlockShots: Blockchain SimplifiedEpisode 45 - Layer 1, Layer 2, and ScalabilityInitially, there were only one kind of blockchain networks where ledger storage and execution of transactions both happened on-chain. These blockchains were not scalable because of the topics and reasons mentioned in some of the previous episodes.To achieve scalability and throughput, some solutions try to decouple or divide this work across on-chain and off-chain systems. Some solutions move the execution of tractions outside the chain while keeping the ledger state on the chain. Some other solutions delegate the work to smaller blockchains outside the main chain.All the these solutions, broadly, come under the...2022-10-0204 min
BlockShots: Blockchain SimplifiedEpisode 44 - Block Gas Limit, Block Period, and Blockchain ScalabilityWhen we talk about blockchain scalability — which has been the theme for some of the current episodes — we must understand how the block gas limit plays an important role in the scalability discussion.In general, for any public smart contracts blockchain, it is important to measure and charge for the resource usage while executing smart contract logic. For this, we have gas. The concept of gas makes sure the user pays for the logic they want to execute on the chain. This discourages several kinds of attacks on the blockchain.Now let’s understand what block gas limi...2022-09-2604 min
BlockShots: Blockchain SimplifiedEpisode 43 - The Ethereum MergeSince its beginning, the Ethereum network has been using the Proof-of-Work consensus mechanism. As we know, PoW consumes a lot of energy. Now the Ethereum network is moving to Proof-of-Stake consensus mechanism.The merge is when the switch from PoW to PoS is going to happen.Since the December of 2020, there has been a PoS network running in parallel, called the beacon chain. The existing PoW network (main net) and the beacon chain would merge into one and the block production would happen via PoS mechanism. That’s the merge.All accounts, balances, an...2022-09-1904 min
BlockShots: Blockchain SimplifiedEpisode 42 - Blockchain Performance vs. ScalabilityWhen it comes to blockchains, we use the terms performance, scalability, transactions per second (TPS) many times interchangeably. But these are all very different things. I recently read an article on a16z crypto where all these terms were nicely explained and clarified. I encourage you to read this article.https://a16zcrypto.com/why-blockchain-performance-is-hard-to-measure/In this episode of the podcast, I am sharing my understanding, mainly after reading this article, of blockchain performance and scalability and how they are different from each other.Basically, performance is about the current throughput of a...2022-09-1203 min
BlockShots: Blockchain SimplifiedEpisode 41 - Blockchain Execution ShardingIn the last episode I spoke about blockchain scalability and how sharding is one of the ways to achieve that. In this episode, let’s do a double click on blockchain execution sharding.Sharding, in general, is a term associated with traditional databases. When a database grows too big, it could be divided into smaller databases across several servers based on some property of data. For example, a database with all the names of people in an organization could be divided into 26 servers, each having the names starting with one letter of English alphabet. Each of these se...2022-09-0505 min
BlockShots: Blockchain SimplifiedEpisode 40 - Blockchain ScalabilitySome of you must have seen on the internet that how Bitcoin and Ethereum and much slower than Visa and other centralized financial systems. The reason is blockchain scalability trilemma. Bitcoin and Ethereum have chose to be more secure and decentralized, and hence they have to give up scalability.In the last episode, I spoke about the Blockchain Trilemma. About how blockchain could have only two of decentralization, security, and scalability at a time. I also mentioned that there are some approaches and solutions being implemented and researched to circumvent the trilemma. The main purpose of these...2022-08-2204 min
BlockShots: Blockchain SimplifiedEpisode 39 - What's the Blockchain Trilemma?Blockchains are decentralized networks where all the data is stored and verified by all nodes. To make blockchains usable for real world use cases, they should process large amounts of data. But when all nodes have to process all the data for each block, it is not easy to process a lot of transactions quickly. Blockchains are also public and permission-less networks, hence it is critical that they stay secure.The blockchain trilemma says that blockchains could have any two of decentralization, security, and scalability at a time. For blockchains to be decentralized, they should b...2022-08-1804 min
BlockShots: Blockchain SimplifiedEpisode 38 - Byzantine Fault ToleranceBlockchains are basically peer to peer networks of nodes. The chain progresses when majority of the nodes or peers agree on the state of the blockchain and the validity of the next block. What happens when these nodes don’t agree or when they misbehave?In a network of nodes, there could be a situation that some of the nodes are either offline, or under an attack, or just not functioning as expected. Also, these nodes are connected with each other using usual networking technology. It could also happen that the network doesn’t work properly between some...2022-08-0804 min
BlockShots: Blockchain SimplifiedEpisode 37 - Lifecycle of a Blockchain TransactionThe user or DApp composes a transaction with information like input parameters, cryptographic signature, and some metadata about the blockchain network and a serialized data object is created out of it. All of this happens outside the blockchain using Wallets or DApps.Transaction SubmissionThis serialized transaction data is then sent to one of the blockchain nodes using the RPC API.Transaction QueueOnce the transaction is submitted to the node, some initial validation checks are run on it. If it is found valid, it is placed in the transaction queue...2022-08-0204 min
BlockShots: Blockchain SimplifiedEpisode 36 - Anatomy of a Blockchain NodeBlockchains are peer to peer network of nodes. These nodes connect with each other and come to consensus on the state of the blockchain. All these nodes are basically computers running the blockchain node software. Let’s look at all the components of a blockchain node that come together to make it all possible.* Storage: This is the most basic component of the blockchain node. This is where the state of the blockchain is stored. In general, this is simply a database optimized for blockchain use-cases. All the Merkle tree logic and related functions are implemented in th...2022-07-2505 min
BlockShots: Blockchain SimplifiedEpisode 35 - What are Oracles?Blockchains form consensus when all the nodes agree on the data they process. This depends on the condition that the computation at each node should be deterministic. That means each node should arrive at the same output, for a particular set of inputs, no matter what hardware they are using. The deterministic nature of blockchain logic ensures strong consensus. For this reason, blockchains work on the data that is already on the chain or supplied by the transactions from the users as input. By design, blockchain don’t depend on external data sources when executing transaction logic.2022-07-1805 min
BlockShots: Blockchain SimplifiedEpisode 34 - On-Chain vs. Off-Chain DataBlockchains are decentralized systems and are relatively slower than the centralized distributed systems. This is because decentralized systems have each node processing all the data so that they could not be hacked or influenced by a single point of control or failure. Processing all the data by all the nodes also makes things slow.In order to still make use of blockchains and decentralized systems in real world use-cases, where millions of users could use them in spite of their low throughput, we have to follow certain best practices. One of these best practice is about what...2022-07-1104 min
BlockShots: Blockchain SimplifiedEpisode 33 - Distributed vs. Decentralized SystemsDecentralized systems are fundamentally different from distributed systems. While in distributed systems we can add more servers to handle more load, we cannot do that in decentralized systems. Also, because distributed systems have a single point of control and failure because they process the data only at a single node. Decentralized systems don’t have that shortcoming because all nodes in the network verify the data. This makes decentralized systems much more secure. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.bl...2022-07-0404 min
BlockShots: Blockchain SimplifiedEpisode 32 - Decentralized Autonomous Organizations (DAOs)Blockchains allow seamless and transparent distribution of tokens and these tokens can represent pretty much anything. It can be something of a financial value, identity, or right to vote that can be tokenized on the blockchain.Recall that to update the state of a blockchain, users send signed transactions, and based on the validity of these transactions the updates are applied to the blockchain. When an update requires multiple users to approve it, we use multi-signature transactions and wallets.Now let’s combine these two concepts and imagine an organization’s entire governance based on a bl...2022-06-2704 min
BlockShots: Blockchain SimplifiedEpisode 31 - Non-Fungible Tokens (NFTs)If we look at the dictionary definition of the term fungible, it says “being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind.”https://www.dictionary.com/browse/fungibleLet’s take an example. If you have a 1 dollar bill, you can exchange it for another 1 dollar bill. When we deposit cash in a bank and then withdraw some or all of it, we don’t get back the same currency notes that we deposited. But we still accept that money be...2022-06-2004 min
BlockShots: Blockchain SimplifiedEpisode 30 - Crypto ExchangesExchanges allow users to buy, sell, and exchange cryptocurrencies. Just like we have stock and forex exchanges for buying and selling shares and foreign currencies, similarly we have exchanges for cryptocurrencies.In general, crypto exchanges allow buying and selling of cryptocurrencies using fiat currencies or stablecoins or other cryptocurrencies. For example, you can buy bitcoin using USD and sell bitcoin for USD. You can also convert bitcoin into ether and vice versa, using a crypto exchange. Crypto exchanges are of two kinds — centralized and decentralized. Centralized exchanges are basically order book based platforms that man...2022-06-1304 min
BlockShots: Blockchain SimplifiedEpisode 29 - What are Stablecoins?Cryptocurrencies are generally volatile. There are several reasons for that — low liquidity, speculation, and several other factors. There could be more reasons, but generally speaking, cryptocurrencies have been relatively more volatile compared to fiat currencies.This volatility does not help with the value transfer use cases of cryptocurrencies. If the price is not stable, the value transferred or committed may not represent the services provided in return. For example, if a buyer and seller agree to transact using a cryptocurrency for a service or product, and by the time it is delivered if the value of that crypto...2022-06-0604 min
BlockShots: Blockchain SimplifiedEpisode 28 - Central Bank Digital Currency (CBDC)Central bank digital currencies broadly refer to the digital versions of fiat currencies.The fiat currencies are issued by the central banks of respective countries. These currencies are issued based on the economic conditions and needs for trade and commerce in a country. Previously, the fiat currencies were issued based on gold reserves. The process of minting and maintaining these currencies requires quite a bit of work in terms of printing, logistics, transfers, reserves, etc. There is a lot of paperwork and many of layers of bureaucratic processes in currency management at the central bank level.2022-05-3005 min
BlockShots: Blockchain SimplifiedEpisode 27 - Liquidity Pools, Swaps, and Yield FarmingFinancial services are generally based on transfer of funds between parties. For example, when we borrow money from banks that money is deposited by someone. They earn interest for depositing their money, and we pay interest on the loan. The money moves between the depositor and borrower through the bank. On a larger scale, many people deposit money at the bank and the bank then lends that money to potentially many borrowers. This involves the bank to manage large amount of currency, which, in turn, allows the bank to provide several financial services (forex, etc.). The bank b...2022-05-2304 min
BlockShots: Blockchain SimplifiedEpisode 26 - Decentralized Finance (DeFi)Decentralized Finance is more of a field comprising platforms, standards, and applications focused on providing financial services using decentralized technologies.Generally, when it comes to traditional financial services, we deposit savings, borrow money, buy insurance, etc. Most of the time we interface with financial institutions that govern the terms and and conditions of these services. The process is like a black box, too opaque considering money matters. We, as users, do not have a lot of control over how our money is being used by financial institutions.Also, there are too many steps involved in...2022-05-1605 min
BlockShots: Blockchain SimplifiedEpisode 25 - Multi-Signature Wallets (MultiSigs)Every transaction in a blockchain is signed by the sender. The signing of transactions is done using cryptographic signing algorithms, as described in episode 6 of the podcast.In some scenarios, to perform an operation on the blockchain, there is a need to have more than one signatures on a transaction. Think of bank accounts with joint holders. Similarly, blockchain wallets could also be owned jointly by a group of accounts. These wallets are called multi-signature wallets or multi-sigs. This is a public episode. If you would like to discuss this with other subscribers or...2020-09-2104 min
BlockShots: Blockchain SimplifiedEpisode 24 - Initial Coin Offering (ICO)One way of doing crowdfunding for software projects is an Initial Coin Offering, better called ICO. In blockchain applications, the developers create tokens so that their users can spend them to use the application. Selling these tokens is a way for the developers to get paid for their work.Let’s understand more in this episode. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2020-09-1404 min
BlockShots: Blockchain SimplifiedEpisode 23 - What are Blockchain Tokens?Tokens are digital assets representing a user’s right to use a system/service/application or to participate in a process based on blockchain.Tokens are similar to cryptocurrencies in terms of issuance and distribution, but they are different in terms of value. A cryptocurrency can be used as a medium of exchange, while a token has only utility or security value.Let’s understand more in this episode. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.bloc...2020-09-0704 min
BlockShots: Blockchain SimplifiedEpisode 22 - Proof of StakeIn this episode, we understand what is proof of stack consensus and how it compares with proof of work.Proof of Stake (PoS) is a blockchain consensus algorithm where the nodes put an economic value on stake to participate in block production. The problem domain is the same — to find out who should produce the next block for the blockchain. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2020-08-3104 min
BlockShots: Blockchain SimplifiedEpisode 21 - Proof of WorkIn this episode, we understand what is proof of work and what it solves. We also understand how and why it is used in blockchains. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2020-08-2404 min
BlockShots: Blockchain SimplifiedEpisode 20 - What is a Double Spend?In this episode, we understand the problem of double spend in digital currencies and how it impacts blockchains too. We also look into how blockchains solve double spending. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.blockshots.net2020-08-1704 min
Relay ChainStaking and Validating on Kusama and PolkadotGautam Dhameja (Solutions Architect, Parity) talks to Joe Petrowski (Research Analyst, Parity) about staking, validating, and nominating on Kusama and Polkadot. If you want to learn more about how Kusama's and Polkadot's nominated proof-of-stake system works, or if you're interested in staking or validating, this episode is a great place to start.
To get more information on staking, validating, and validator setup on Kusama, check out the Kusama network guide at https://guide.kusama.network/.
Highlights:
01:43 - What is consensus?
02:48 - Polkadot and Kusama’s block production and finalization algorithms, BABE and GRANDPA2019-08-2951 min