In this episode of The Unstoppable Podcast, we’re talking to Eleni Steinman. She’s the head of strategy and operations at bloXroute, and she’s here to break down some of the more technical blockchain concepts in easy-to-understand terms.
We talk about transactions on the blockchain and how they get there, along with how gas fees work and how they are calculated. Eleni tells us about the EIP 1559 update and what it means for ETH fees, and also how ETH inflation impacts gas fees.
Eleni explains the current scalability challenges involved with Ethereum, and we dive into some of the different types of solutions available, like layer-one and layer-two, how these work, their benefits and drawbacks.
We discuss ETH 2.0 and how it benefits users. We also talk about bloXroute, the work they’re doing, and the products they offer. Finally, we discuss women in crypto and how the community can do more to welcome women.
⏳ TIMESTAMPS:
0:00 Intro
1:03 How did Eleni get interested in crypto?
3:32 How do transactions get on-chain?
5:00 How can we trust miners to submit the right information?
6:11 What are gas fees?
7:08 How are gas fees calculated?
9:37 How does EIP 1559 affect gas fees?
14:34 What will the transaction process look like with EIP 1559?
16:37 ETH price x gas fees x EIP 1559
18:24 Scalability problems
21:25 Layer 2 Solutions
25:32 How does Ethereum Gas Limit (EGL) work?
26:44 Can Layer 2 solutions reduce gas fees?
27:37 Are Layer 2 solutions ever as secure as Layer 1?
27:58 Will Layer 2 solutions face the same problems that Layer 1 faced?
28:35 What is ETH 2.0?
30:00 How do EIP 1559 and ETH 2.0 benefit users?
32:01 Does EGL work together with EIP 1559 and ETH 2.0?
34:31 How did Eleni come up with the idea for EGL?
35:06 Is EGL going to be set up as a DAO?
36:44 bloXroute
39:39 Are there any solutions where you can hide some of your transactions on the blockchain?
41:01 Final thoughts on scalability
41:55 How do we get more women in crypto?
43:30 Eleni’s experience as a woman in crypto
45:07 Eleni’s advice for women who want to get into crypto
46:35 Where can you learn more about bloXroute?
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