sam cassatt
@samcassatt
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Co-founder @LayerOnEth, renegade futurist | Prev: Founder of @Aligned_co, Chief Strategy Officer @ConsenSys
Joined May 2009
#Ethereum is about to undergo the #Thirdening - a reduction in issuance of new $ETH to miners from 3 ETH/block to 2 ETH/block, or a reduction of 33%. It will happen at block 7,080,000 as part of the Constantinople hard fork, which is estimated to be January 16th.
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Looks like the #Thirdening just happened on #Ethereum at block 7280000! Block reward is at 2 instead of 3. Congrats to all the hard working devs who made this happen!
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Anyone else noticing this correlation?. Being mad about #DeFi seems highly correlated to not understanding it. Lots of people mad though
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Excited to finally announce my new project, Aligned Capital. Deeply grateful for my time at @ConsenSys and to @ethereumJoseph for the continued friendship, support, and collaboration. Time to find the next great transformation!.
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"We are writing this piece to address some of the more common misconceptions in the ecosystem that incorrectly describe, understand, or position Ether and Ethereum." an article by myself and @everett_muzzy #Ethereum #ConsenSys #Blockchain
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I really love what @MakerDAO has been up to. They are showing the clearest example of a decentralized finance project--no lawyers, cheap admin, all with a smart contract. #blockchain
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Always awesome to see @APompliano and discuss the future of france. Thanks for having me on!. Listen for some fun DeFi convos and explaining what the @NEPTUNEDA0 is š±, as we enter a new era of liquidity-driven launches.
New episode with @samcassatt is now live. Episode #555!. - Decentralized Finance.- Degens.- Yield Farming.- Asymmetric Investments.- Dark corners of crypto.- Where Sam sees opportunity. Sam is King of the Degens. Enjoy this one!.
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Some news on my next move. Been thinking about where the ecosystem is going big picture, and this is my answer. Much more to come very soon š. Weāre at @Permissionless hosting our first hackathon - feels amazing to have builders on @LayerOnEth for the first time. Join us!.
š§µ Layer Raises $6M to Build Incorruptible Foundations of the Internet! . We are thrilled to announce today at Permissionless that we have successfully raised $6 million in seed funding, setting a course to revolutionize internet security!
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This is a 0.35% decrease in $ETH issuance per year. Significant for all those concerned about $ETH monetary policy. As ETH 2.0 launches, issuance will be less than $BTC's.
A reminder that in addition to fixing the inefficient gas market, EIP-1559 will introduce a burn mechanism for network fees. Yesterday, 1009 ETH were spent on tx fees. That would be 370,000 ETH (0.35% of supply) a year burnt. This will be in Eth2 by default.
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To people that think this is too complicated - you should look at a diagram of how the internet works, or how your phone works. Your head will probably explode. #Ethereum.
Ethereum is like "Oh you thought you could run a node, huh. This isn't even my final form! *transforms into Super Fatberg*
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Just announced by @mi_ayako at @EFDevcon #devcon5 that the @UN (through @UNICEF) is now disbursing crypto-denominated money. The face of the economy is changing in circumstances where itās needed most. Only a matter of time. .
We are now able to receive, hold and disburse donations in cryptocurrencies - ether and bitcoin. Learn more about our new UNICEF Cryptocurrency Fund! š.
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This is a semantic argument at best, and disingenuous more likely. Sharding, PoS etc. have been talked about since the beginning of ethereum. The difference is a version number. Everyone knew the design limits of ethereum at launch, and had plans to upgrade it. We're doing it now.
They took investment on the premise that Ethereum was "scalable" (it's in the ICO Terms & Conditions) but it was an "impossible project" "that we knew wouldn't be scalable".
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Looking forward to connecting with builders and community members today to talk about how @LayerOnEth can make your AVS easier to build and more powerful. If you're thinking of building on @eigenlayer we can help!.
š Weāre live TODAY at 1pm EDT! Join co-founders @samcassatt and @JakeHartnell from @LayerOnEth as they share insights on their @Permissionless III Hackathon challenges and how they're empowering builders. Donāt miss out! šļø.
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#CeDeFi is bullshit. Someone in marketing trying to hang on to your last thread of relevance.
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Very excited to see this step forward for the @ethereum brand, done in a decentralized and #ethereum-esque way. The world needs to know what we already do. Congrats to the grassroots group of people that came together to make this happen, and especially @amandagutterman!.
1/ š Introducing the Ethereum Marketing DAO š. A group of 50+ marketers, designers and communications professionals dedicated to growing @ethereum as a brand. [THREAD]
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Seems like everyone is adding the ragequit functionality from @MolochDAO. @AragonProject already has it live on testnet.
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PSA - upgrade your #ethereum nodes. Istanbul is happening at block 9,069,000, which is ~4 days away. If you're using an exchange wallet or normal end user wallet like @metamask_io, you don't need to do anything. Proud of the Ethereum team!
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How it started. How itās going behind the scenes in $miami $mia
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interesting that the @NSAGov's Codebreaker Challenge uses @ethereum as part of the scenario - "an encrypted copy of the key needed to decrypt the ransomed files has been stored in a smart contract on the Ethereum blockchain" #blockchain #Crypto #ethereum
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Excited to speak to my fellow #Ethereum nerds at @EtherealSummit this Friday. DeFi and governance are on my mindāwhatās on yours? #EtherealNY.
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1/ DeFi still has major gaps in infrastructure that are holding back the potential reach for both retail and institutions. Hereās why we raised $34M at Aligned to build Web3ās answer to AWS š§µ.
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Going to be talking about DAOs with @awrigh01, @CaitlinLong_, and Jordan from @BeetsDAO, moderated by @pridesai at 1:10 EST. Come join us!.
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Alphabet president & @Google co-founder Sergey Brin admitted that Google had āfailed to be on the bleeding edgeā of developing blockchain technologies at billionaire @richardbransonās private #blockchain summit over the weekend.
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Amazing work by @CaitlinLong_ and the folks in Wyoming. They set the stage for one of the next phases of #blockchain innovation with the new #SPDI law.
@DamianGawryluk @propelforward @NYcryptolawyer @josh_blockchain @AndreaTinianow @AnnetteNazareth @stephendpalley 1/ OK here's what it means. The SEC's new guidance would have been a bummer for the #crypto custody industry were it not for #Wyoming's new #SPDI law, bc there's precisely one--only one--type of bank that satisfies the SEC's key rqmt w/o tripping over other regulatory landmines.
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Watching @ameensol right now at #ETHDenver āsummoningā the first members of the @MolochDAO live on stage with @cassshih. Honored to be a founder of this awesome development for the #ethereum community.
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. @JakeHartnell explaining how IBC will connect everything in the near future and build the Interchain . @NebularBuilders
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This is huge for market maturity - futures settled in $BTC rather than USD. That means institutional adoption of real bitcoins, not just paper representations. Keep it coming.
New today from @Rubinations @WSJ: āThe first futures contract that will pay out in cryptocurrency rather than cash is expected to soon get regulatory approvalā
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I had one of these shirts as a kid . For those that don't know, the US tried (succeeded briefly) to classify the RSA algorithm as a munition and ban it. Hard to ban a t-shirt. Wen @TornadoCash smart contract t-shirt?
Here's the list of Tornado Cash resources that were banned. - Tornado Cash @GitHub organization.- personal @GitHub accounts of TC contributors.- all $USDC on Tornado Cash contracts @circlepay .- @infura_io RPC.- @AlchemyPlatform RPC.- domain @eth_limo.
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That's a bit like the US Federal Reserve saying, "we're about to reduce the number of new dollars we print next year by 33%." This is one step along the way to #Ethereum's eventual plan to have <1% annual issuance, as Proof of Stake and Serenity roll out. #Thirdening.
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It was awesome getting to chat with @APompliano about all things #Ethereum, @ConsenSys, scaling blockchains, emerging business models in #DeFi. Much thanks to their team and excited for the future!.
New podcast live today!. @samcassatt and I discuss the history of @ConsenSys, how governments look at crypto, why Maker is interesting, and the current scalability debate around Ethereum. Listen and I promise youāll learn :).
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@jbarro Really bad take. Why do you think world governments, central banks, the tech world are all investing in the technology?. Name a ban on a technology, especially an open source one, that has succeeded. DeCSS, RSA Algorithm, Bittorrent all come to mind.
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This is what a failure of governance looks like. Everyone knew that collusion and capture r not only possible but likely with the design of #eos - produced blocks for 245,073 rounds or 357.4 consecutive days before we were voted out.Our world class infrastructure is sitting idleā.
Shortly after tweeting this our unbroken streak ended. We produced blocks for 245,073 rounds or 357.4 consecutive days before we were voted out. Our world class infrastructure is sitting idle so go vote! Regardless, our work to improve #EOS continues!
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@CharlieShrem @ErikVoorhees Iām in this picture on the very left in the red shirt. Wild times :).
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Really fun hosting this debate on modularity/rollups vs. mesh security with @sunnya97 and @musalbas . Thanks again to @NebularBuilders for hosting!.
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I truly believe public versions of public protocols are the things that will change the world dramatically. Yes, there will be private instances, a tapestry of differently blockchains systems, but the anchor point will be a public network like the #internet.
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Welcome to Aligned. As Web3 architectures have evolved, it was clear to me that hardware needed to evolve to support new workloads, rather than running on Web2 infra. The next wave of computation is about ZKPs, Danksharding, new math. The evolution is starting here!.
Welcome to Aligned. We are a next-generation, full-stack web3 infrastructure company. We seek to empower and bridge the gaps in the growing decentralized infrastructure movement through a suite of products and services.
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š.
Is it just me or is the word "aligned" going viral in business parlance. "im aligned". "let's align there for sure". "where do you see alignment". "how do we get aligned".
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So many great points by @ethereumJoseph about the development of the #ethereum and @ConsenSys ecosystem. We are #buidl -ing the infrastructure that will support a new system - not a quick or easy job but a fulfilling one
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Come see my tomorrow at @EtherealSummit. I'm going to give a wild talk about the future of humanity and our institutions. #EtherealNY
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Guess I was right in 2018. This piece was a response to the Tetras FUD, which I didn't name explicitly at the time. Beware of people putting out research to enhance their own questionable position, like the recent $LINK FUD being spread by Zeus Capital. DYOR crypto friends
"We are writing this piece to address some of the more common misconceptions in the ecosystem that incorrectly describe, understand, or position Ether and Ethereum." an article by myself and @everett_muzzy #Ethereum #ConsenSys #Blockchain
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@ErikVoorhees $YAM is the governance of $YFI, stability mechanism of $AMPL, staking from $SNX, etc. $YFI is a yield bouncer but will be whatever the governance process says it is. $YAM will also be whatever governance says it is. Definitely an experiment. .
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So proud of @amandacassatt for her book that came out today!. This is the culmination of many years of work defining and understanding how web3 companies and products come to market. You should grab a copy and come to the space later today in 30 mins!
My book is officially available for purchase today!. If you told me in 2016 that 8 years later I would publish a book about bringing Ethereum to market and how web3 startups can succeed. I would've said OF COURSE!. We knew from the start what we were building was special. š§¶.
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Amazing to see #crypto and #blockchain in the mainstream. This is what decentralization is for
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Really exciting to see @Fidelity launching a platform to allow access to $eth and $btc. Institutions coming in signifies the maturity level weāre getting to in the #blockchain and #crypto ecosystem.
LATEST: Fidelity starts crypto unit to serve Wall Street customers
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Given the recent events with @TornadoCash, is the community at all worried that a government-mandated 34% attack could prevent Ethereum PoS from functioning? . Right now, a handful of US-tied entities could get us to 34%. (Or if not a problem - please explain below). Data belowš.
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The world is figuring out something Iāve known for a long time. That my wife is a market signal š¤£.
Would you buy a token that's about to onboard for their marketing, and has a chart that looks like this? . (below are some of the projects Serotonin has worked with. )
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Excited to speak here tomorrow. If youāre in Singapore and care about the future of web3 architecture, come by!.
How can we make Onchain and Offchain Compute work together?. @samcassatt, co-founder @ Layer, is going to explain it with the keynote āHybridizing Onchain and Offchain Compute for True Decentralizationā. š
September 18, @token2049. Grab the ticket here:.
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āIt is out of questionāā that Libra ābecome a sovereign currency,āā Le Maire said in an interview on Europe 1 radio. āIt canāt and it must not happen.ā - I have mixed feelings about zuckbucks, but the legacy financial system must be shaking in their boots.
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Thanks to @ConsenSys for the helpful #Thirdening infographic explaining all the EIPs to be implemented in the upcoming #Ethereum Constantinople network upgrade.
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May @NEPTUNEDA0 the god of liquidity bring healthy rains š§ and a bountiful harvests š„š½š„¦ to farms the world over!. This is going to be wild.
DAOs getting into the liquidity game. @NEPTUNEDA0 is the latest DAO incubated by The LAO.
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Congrats to @APompliano on his new fund. And congrats to his LPs for being on the forefront.
This morning our team at Morgan Creek Digital announced a new $40 million crypto venture fund anchored by two public pensions. The institutions arenāt coming. Theyāre already here. š.
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Iām at @Gateway_Conf š. Join me at the MAIN STAGE on Sunday, June 4th at 16:00 where Iāll be a judge for the Day 2 Demo Session alongside @samcassatt @FransScholten @MathijsvEsch @_marekSan_. @Maven11Capital @FlowTraders @Rockaway_X. See you there! #gatewaytocosmos
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Hiring shadowy super-coders . Not like those open source, community-driven tradfi coders aka bankers.
Senator Warren: Crypto Puts Financial System in the Hands of 'Shadowy Super-Codersā .āŗ
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Thereās a new way to govern financial systems. Check out this interview with me and @ethereumJoseph.
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Thanks so much @NATALIA_AIXYZ! Great to have you as part of the crew at @Permissionless!.
DeAI & AI On-Chain Agents will require a reimagining of architectural underpinnings aka. how we ālayerā existing and new technologies. Extra fun when your friends share the same mission! .Congrats @samcassatt & @JakeHartnell for launching @LayerOnEth ( !
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Iām sure some folks @ConsenSys will send you some if you want, @elonmusk. P.S. definitely not a scam.
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When an asset's supply goes down (fewer miners selling newly-mined $ETH), assuming demand is the same (or higher), prices trend up. This is obvious when looking at $BTC price mapped against the #halvening, a similar event in $BTC where block reward halves, next one is May 2020.
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You too my love. Hereās to ā¾ more š.
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New era for #ethereum dev. Ethereum contracts can now be written directly in #MSVisualStudio and deployed @Microsoft
It's official: We're proud to announce #Ethereum #Solidity's availability in #Microsoft #VisualStudio #Build2016
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So long as security is a function of market cap (which it is in all PoS systems) anyone designing these systems needs to think about *and optimize for* price of the staking token.
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Iām excited to see how 2019 unfolds for #Ethereum with the changes in Constantinople and beyond. Hereās some deeper info on the fork.
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Great to be on. Thanks so much @loukerner for the invite!.
On today's community call, we heard from @samcassatt, co-founder of @LayerOnEth, a new supra-infrastructure layer that's bringing the @Ethereum security layer right down to the GPU and hardware level. Impressive stuff!
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I think people are upset that it's actually working. What we said would be done is actually happening. Now btc maximalists and others need to point to the past to find criticism, because you can't claim "it's impossible and won't work" anymore.
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That was fast. This is a baby step in the grand scheme of evolving our economy, but one that really drives home how powerful blockchain is. I can't wait to see how this plays out šæ.
U.S. lawmakers are calling for Facebook to halt Libra development
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Anything we do on the internet leaves a trail of data. @uport_meās mission is to give your data back to you.
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Theyāre scared. Rightfully so. Itās only a matter of time until the decentralized versions are ubiquitous, with no permission asked for or required.
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On the issue of supply/demand, it's also notable that an increasing amount of $ETH is currently locked in #DeFi (decentralized finance) applications. @JohnTodaro1 of @TradeBlock shows here that demand will likely completely outstrip supply shortly
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Find out how #Ethereum #blockchain is altering the startup landscape. Tune in at 3:05pm PDT, Iāll be taking the stage with @amandagutterman and @ethereumJoseph at #DisruptSF.
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starts in 11 minutes.
Join us as we count down the blocks to the #Istanbul network upgrade! Live stream tomorrow about 30-60 minutes before the upgrade. Hosted by the @EthCatHerders.
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Funadementally in #blockchain oracles, you need to start with the assumption that all of them can be corrupted. The key is making the profit from corruption < the cost of corruption - @allilulllc on the design principles behind @UMAprotocolās oracles. Very cool. #devcon5
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How long until this has more #btc than wumbo jumbo or whatever thing bitcoiners are talking about today?.
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Hats off to @cz_binance for immediately being transparent, immediately letting people know they will cover all customer funds, and generally being good to their customers. Although, I would not want to be on their security team over the next 24 hours.
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Excited to support @collegedao_hub and the hackers building on @LayerOnEth at Devcon!.
Weāre coming @devcon, and weāre pulling up with the Infinite Hacker House. With the support @eigenlayer & @LayerOnEth, weāre bringing 20 students from around the globe to Bangkok from Nov 8-18. Ten days of infinite vibes and infinite innovation for the infinite hackathonš
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Itās such a privilege to see @stewartbrand connecting the legacy that began with the Merry pranksters and the hacker movement with whatās happening now in @ethereum at #Devcon4
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That number is now closer to 2%. At the time of writing of the @CryptoCoinsNews piece, 967,507.91 $ETH were locked up. The number is now nearly double that, which you can verify for yourself here
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H is for hash. @VitalikButerin and @GovofCO reading the bufficorn book to the kids of @EthereumDenver
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Come watch me talk about DAOs and the future of finance @EthereumDenver today at 1:15 Eastern.
āļø@pridesai @awrigh01 @samcassatt @nichanank @nowdaoit - past & future of DAOs.āļø@theklineventure @jessewldn @AraBalaghi @TheTomTrow @shirabfrank - aligning incentives for sustainable outcomes.āļø@_MinTeo @delitzer @taratan @EtienneTRGC @Joris_DLN @thibauld - the evolving investor.
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I'm excited to speak this morning about regulatory safe zones with @EvaKaili, @mikejcasey, and @ddisparte at @GBBCouncil #BlockchainCentral. #UNGA2018
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As we move towards Proof of Stake, these issuances get sub 1% (likely much less, given the number of stakers). Check out @ethhub_io's and @econoar's analysis here (also shoutout to them for the image in my first tweet):
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Intranets are interesting, but they donāt change the world. Building on #ethereum gives you a path of understanding and constructing a public version of things. Hyperledger is only for private networks.
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Looking forward to seeing you all there at @metaverso_nft!!.
The rumours are true! @samcassatt will be at Puerto Ricoās first NFT conference as a speaker. šļø . Meet other top builders, artists, and collectors at this highly curated single-day program. š. Full agenda and deets available at:
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In sum, the #Thirdening will be an interesting opportunity to see how Ethereumās long-term plan to reduce inflation plays out a market with a lot more stakeholders than previous years. Hereās some deeper info on the thirdening.
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Excited to give an update on all things #ethereum and #blockchain at @bklyntechweek! If youāre in #nyc or #Brooklyn please come by.
#BkTechWeek Day 1 (Nov. 7) Blockchain Crypto Summit ā Get caught up on the state of #blockchain tech & #cryptocurrency with speakers from @ConsenSys @coinfund_io @LivepeerOrg & more! Also a Lightning Venture Talk with @LatticeVC @techstars. Tix available:
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legendary guy. iykyk. sad to see him go.
> independently discover a Zeno's paradox at age 3.> MIT at 17, grad level math in 1st year.> graduate in 3 years.> drive motor scooters from Boston to BogotĆ” with the boys.> start a company in Colombia.> start code breaking with the IDA for money.> solve minimal varieties in
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Vancouver has the worst taxi system of any relatively developed city Iāve seen in years. Just waited 40 minutes to get a ride, after the first one refused pick up because he didnāt feel like driving there. Uber and Lyft are coming in the next few weeks. I love disruption.
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The congressman gets it. After working on #blockchain technology for years, I must say itās amazing that weāre having this national/international conversation. Now is the time to embrace innovation or lose to those who will.
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