what to remember from the 5th edition of the Ethereum Community Conference

The EthCC [5]the event of the year to celebrate Ethereum

From July 19 to 21, the 5th edition of theEthereum Community Conference (EthCC), the largest European event entirely dedicated to Ethereum and its ever-evolving ecosystem.

During these 3 days, many personalities from the cryptocurrency industry intervened to express themselves on a multitude of subjects: the upcoming arrival of The Merger, the development of layer 2 solutions, the theory of Soulbounds tokens (SBTs) , decentralized social networks, decentralized autonomous organizations (DAO), regulation in Europe (MiCA), etc.

Relive ETH’s most significant interventions [5], notably that of the famous Vitalik Buterin.

EthCC[5] is kicking off!

💙🤍❤️ pic.twitter.com/vNRZzOs9kI

—EthCC – Ethereum Community Conference (@EthCC) July 19, 2022

Day 1: Decentralized Identity and DAO

EthCC kick-off [5] was donated by Kevin Owockico-founder of Gitcoin, a platform where blockchain developers can earn compensation for working on open-source applications. In particular, he presented the Gitcoin Passport, a digital identity innovation intended to serve as the building block of an open and borderless Internet.

In the same perspective, Gilles Fedakthe CEO of the French startup iExecexclusively presented the prototype of a new product: a wallet of personal data that mints NFTs from it. These wallets can then be used to identify users when logging into decentralized applications while maintaining absolute governance and privacy.

Next, Kelsie Nabbenresearcher and doctoral student at Melbourne Royal Institute of Technology, addressed the issue of DAO vulnerabilities and resilience. She highlighted the need to discuss new actions taken by DAOs in response to their changing environment and how algorithms can be governed to address threats.

In parallel, Nimrod Talmonresearcher atBen Gurion University of the Negev, reported his work finding effective algorithms that can help the company make good decisions common to DAO scaling problems. “There are solutions, but they are not well understood. The DAO governance tools are not optimal,” he explained before dissecting how the struggle between decision flexibility and lack of time is holding back the growth of large DAOs.

On the institutional side, the co-founder of Societe Generale — Forge, Sylvain Prigent, discussed the union of traditional finance (TradFi) and decentralized finance (DeFi). He shared a glimpse of Forge’s token offeringtheir commitment to safety, and their roadmap including the launch of a security token refinancing solution in 2023 thanks to the Maker protocol:

“We need to have an exchange for security tokens. Today, it is planned under the European regulations to open a centralized platform next year. It will be a good first step, but I think there is room for innovation in this space.”

👉 To go further – The structuring of a DAO tested by French law – What legal issues?

Day 2: Adoption is underway

During the 2nd day, place for the adoption of Web3 and the Ethereum blockchain by the masses and companies. Makoto Inouedeveloper at ENS Domains, got the ball rolling by providing an update on the status of Ethereum Name Service.

He shared how the most prominent Ethereum domain names are owned by celebrities like Jimmy Fallon (fallon.eth), which speaks to the growing interest in owning valuable domain names.

“The first thing you can do with big Web2 brands is make sure they have a well-known .eth domain.”

A massive adoption of cryptocurrencies will not happen without increased security of digital wallets, but above all by simplifying their use. For it, Ouriel OhayonCEO and co-founder of ZenGo, explored the future of cryptocurrency wallets and how they can contribute to their mass adoption. He explained how multiparty computation can be a way to avoid the complexity and difficulties associated with using private keys.

“Signing a transaction is becoming more and more risky…it is very difficult to identify the attack vectors to which you could be exposed”.

Flagship Web3 protocol used by the vast majority of decentralized applications, Wallet Connect plays an important role in the democratization of this universe. Its co-founder pedro gomeschronicled what Wallet Connect has accomplished over the past 12 months and how the messaging network, Wallet Connect Chat, is powering a new era of Web3 connections:

“Web2 has had many platforms dedicated to online chat. But what about Web3? How can we chat with each other in a Web3 environment? It’s a completely new paradigm on Web3, because you always have to put users first. Self-sovereignty is extremely important and we have ensured that Wallet Connect Chat preserves these qualities”.

To close this 2nd day, Stani Kuleshovfounder and CEO ofAave and Lensexposed a new conception of how our community connects and his vision for rebuilding social networks.

“We need to see social media in a new light, lowering the barrier for developers so they can build apps and social tools on a composable and decentralized protocol, allowing them to focus on user experience rather than on user acquisition.

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Day 3: Vitalik Buterin and The Merge

Undoubtedly the most anticipated EthCC conference [5], Vitalik Buterin spoke on the progress of the Ethereum roadmap and how the community should perceive the changes to come by stating:

“Complete the transition [d’Ethereum vers la Proof of Stake] involves deep changes… I’m not just talking about deep changes that people who write code have to worry about. I mean profound changes in the way people think about the Ethereum protocol and imagine the possibilities offered by the Ethereum protocol”.

Indeed, the Ethereum blockchain will begin its migration to the Proof of Stake consensus during the month of September 2022 (date desired by the developers). This operation, called The Mergeis perilous and will forever change the way blockchain works.

“The Ethereum protocol is in the midst of a long and complicated transition, which leads [la blockchain Ethereum] to evolve into a system that becomes much more powerful and robust in many ways”.

On the degree of completion of Ethereum, Vitalik Buterin estimates it will be 55% complete after The Merge. According to him, “so we are entering the second half of this great and long vision”.

Vitalik Buterin’s speech ended on the question of quantum computers and the security of Ethereum, something which will obviously not be left aside by developers when these machines are powerful enough to break the cryptographic lock of the protocol :

“One of the things to remember is the modernization of quantum computers… Chances are they’re coming and once they’re here we’ll have to move to different cryptography. This needs to be done if we want Ethereum to be secure.”

👉 Find the full intervention of Vitalik Buterin on YouTube:

Cryptoast presents its first paper journal

EthCC participants [5] were able to discover the 1st edition of our paper journalwhich brings together many writings on the Web3 as well as exclusive interviews with Sébastien Borget (The Sandbox) and David Silverman (Lens Protocol).

Didn’t get a chance to pick up your copy? feel free to follow us on Twitter, we are organizing giveaways in the coming weeks!

Hmm 🙊
To whom do I send editions of our first paper newspaper? 🌿 pic.twitter.com/Sib6hVgSNA

— Val (@ValCryptoast) July 21, 2022

During the event, our journalist Valentin Demé also realized many interviews which will be released on our YouTube channel over the next few months. He notably had the opportunity to interview Stani Kulechov, founder of the famous Aave protocol.

To not miss the interviews shot during the EthCC [5]subscribe to our YouTube channel!

👉 Find our presentation sheet of Ethereum and its ecosystem

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have been striving to share quality content so that the sector becomes more democratic for everyone.

Clement Wardzala

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