Summary of Arthur Breitman CoFounder Tezos Interview - XTZ Staking, Tezos vs Ethereum, Bitcoin on Tezos tzBTC

00:00:00 - 00:25:00

Arthur Breitman, Co-Founder of Tezos, discusses his background and how his interests in finance, computer science, and political ideology led him to cryptocurrencies. He also discusses Tezos' unique features, including the governance aspect, the inflation funding mechanism, and the proof-of-stake protocol. Breitman highlights Tezos' smart contract language, Michelson, and its focus on formal verification for security. The discussion also touches on Tezos staking and the need to understand that rewards come from inflation and reallocate ownership of the network. They also discuss the role of the Tezos Foundation, improvements to the protocol, central bank digital currencies, and the increasing entry of institutional players into the crypto market. Breitman admits he can't predict the market in the next few years but is optimistic about the growth and expansion of the market.

• 00:00:00 In this section, Arthur Breitman, co-founder of Tezos, discusses his background and how he first became interested in cryptocurrencies. A financial mathematician who worked as a quant for banks and hedge funds in New York City, and later at Waymo in Silicon Valley, Breitman has long had interests in finance, computer science, and political ideology, so when cryptocurrencies appeared on his radar, he quickly became enamored of the possibilities they offered for innovation. It was this desire for innovation and more flexible blockchain technology that led to the creation of Tezos. Breitman says that while many people were dismissing the value of altcoins, he saw potential for smart contract and privacy-preserving advancements in the space that weren't yet being fully realized.
• 00:05:00 In this section, Arthur Breitman, the co-founder of Tezos, discusses his involvement with the Tezos Foundation and its day-to-day activities in building and scalability. He describes himself as a free electron, regularly having conversations with developers and providing insights into the protocol's architecture and design. He also discussed what separates Tezos from other smart contract platforms such as Ethereum, highlighting the governance aspect, the inflation funding mechanism, and the fact that Tezos is one of the few platforms with a proof-of-stake protocol.
• 00:10:00 In this section, Arthur Breitman discusses the differentiating factors between Tezos and Ethereum, highlighting the importance of formal verification and security. He notes that Tezos' smart contract language, Michelson, was designed for security and allows for multi-state contracts to be formally verified. Breitman emphasizes the advantages this brings over Ethereum, where even the most expert developers have made mistakes with multi-state contracts. Additionally, the discussion focuses on Tezos staking, highlighting the need to understand that the rewards for staking come from inflation and that it is a mechanism for reallocating ownership of the network. When asked about the industries or clients Tezos is seeking, Breitman emphasizes that there is no unified approach and that it depends on individual interests.
• 00:15:00 In this section, the interviewer asks Arthur Breitman about the role of the Tezos Foundation in the ecosystem and whether there's a coordinated effort in a specific direction. Breitman responds by saying that there are various people trying different types of applications on the Tezos blockchain, such as insurance and mobility, but there doesn't seem to be a coordinated effort towards a specific direction. They also discuss the growth of DeFi and how lending is the main use case but that it's not enough to sustain the entire ecosystem. They also touch on Ethereum moving towards Proof of Stake and the recent trend of tokenizing Bitcoin on Tezos through TZBTC, which allows for programmable logic and atomic swaps between cryptocurrencies.
• 00:20:00 In this section, Arthur Breitman discusses upcoming amendments and improvements to the Tezos protocol, including the introduction of sapling technology and better developer tooling. He also shares his thoughts on central bank digital currencies (CBDCs), stating that the launch of CBDCs will force currencies to play to their core strengths and may further validate the crypto asset class in the eyes of mainstream. However, he does not believe that the use of blockchain technology for issuing currency by governments will change the skepticism around whether these currencies have any value. Breitman also mentions the increasing adoption and entry of institutional players into the crypto market and expresses optimism about the growth and expansion of the market in the next few years.
• 00:25:00 In this section, Arthur Breitman, Co-Founder of Tezos, admits that he doesn't have a crystal ball to predict the market in two to three years. He shares that there was a time when he had a view on Bitcoin, but it was when the market was smaller and easier to analyze. Now, he finds it challenging to tell where the market is heading. Nonetheless, he appreciates the love that Tezos is receiving from the community and thanks the interviewer for having him on the show.