David A. Johnston and Charlie Shrem discuss the early arguments around building on Bitcoin, the General Theory of Decentralized Applications, and the issues surrounding the scaling debate.
David A Johnston, crypto pioneer and cofounder of BitAngels, joins Charlie Shrem on this week’s episode of Untold Stories. David begins by recounting the San Jose Bitcoin conference, a watershed event where he cofounded BitAngels. He gives his insights into the first attempts to put assets on Bitcoin with Mastercoin, Omni, and Tether. David recalls the early arguments around building on Bitcoin, what is ok and not ok to put on Bitcoin, and censorship on the network. He talks about coining the term DApps, writing The General Theory of Decentralized Applications, and the founding of Ethereum. Charlie and David discuss the issues surrounding the scaling debate, and David explains the need to have a functional layer 1, as well as layer 2 solutions. David discusses the need for further decentralization and the balance between user experience and security. Finally, David offers his predictions for 2020 and the next 10 years.
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