Mel Project: Is Web3 Truly Decentralised? - Eric Tung

Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

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Web3’s decentralisation is currently limited to smart contracts as they can be verified on-chain. However, until scalability and UX become on par with that of Web2, the only realistic way for crypto to reach mass adoption is threw off-chain dApps. This creates the premise for a security bottleneck in the form of centralised APIs used for on-chain querying. Mel Project aims to expand on-chain security and decentralisation (consensus) to off-chain apps, basically achieving off-chain composability through trustless light clients. Earendil, the backbone of their ecosystem, designed to resist ISP-level censorship, is a decentralized anonymous communication and payment network that enables autonomous applications and true P2P protocols.

Topics covered in this episode:

Eric’s background and founding Mel Project
Why Ethereum came short
Is Infura a security bottleneck?
Liberating markets (and the Internet)
Light clients and how Mel Project tackles them
Use cases
Smart contracts on Mel Project
Scaling the ‘world computer’
Mel Project’s consensus: Streamlet
Why Mel Project chose an UTXO model
Earendil & ISP-level censorship resistance
Roadmap
The Geph VPN
Mel Project’s low volatility (stable) coin
$SYM: PoS token
Misc.

Episode links:

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io
Chorus One: Chorus One is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain.

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