CryptoCoinShow - Starknet Ecosystem and Braavos Wallet CEO - Revelo Intel

CryptoCoinShow – Starknet Ecosystem and Braavos Wallet CEO

In this episode of CryptoCoinShow, which took place on February 20th, 2024, Ashton and Motty discuss Starknet, Braavos Wallet, and more. Read our notes below to learn more.

Background

Latecomer to Crypto: Motty’s Background and Journey

  • Motty says that he entered the crypto space two and a half years ago after spending a decade in a classic web company focusing on embedded software, cloud software, and AI. He identified a significant gap in user experience between traditional web applications and crypto platforms. The goal was to enhance user experience for mass adoption by bridging this gap through Braavos.
  • He adds that after studying various layer-1 solutions, Motty found Ethereum striking a balance between decentralization, scalability, and security. He identified validity rollups or ZK rollups as the future due to their scalability advantages over-optimistic rollups. He has chosen StarkNet due to its advanced technology with star proofs used by major protocols like dYdX and Immutable X.

Identifying the Gap in User Experience in Crypto

  • Motty says that StarkNet offers abundant computation capabilities at a low cost compared to other ecosystems. Account abstraction is integrated into the protocol for enhanced functionality.
  • He adds that account abstraction bridges the gap between user interfaces and smart contracts. Traditional wallets like Metamask only reflect account status on the blockchain, while smart contract wallets have an additional layer for custom logic.
  • Motty says that custom signature verification logic can be employed, offering flexibility beyond blockchain-set schemes. Arbitrary execution logic can be added to transactions, expanding design possibilities without compromising decentralization or self-custody.

Motty’s Perspective on the Progress in Web 3 and User Experience

  • Motty says that transitioning from Ethereum layer-1 to other EVM-compatible chains is seamless compared to adopting StarkNet, which requires rewriting code to Cairo language.

The Inspiration Behind Braavos Wallet and Smart Contract Wallets

  • Motty says that account abstraction showcases potential uses in account obstruction. Developers are creating new DEXs within Starknet, leading to rapid ecosystem growth. Cairo is attracting more developers, fostering innovation within the ecosystem. 
  • He adds that developers are increasingly experimenting with building projects in Cairo. Projects like AMMs and price aggregators are flourishing within the ecosystem. Innovation thrives due to the lack of incumbents, allowing for experimentation with new ideas.
  • Motty says that users may be incentivized by potential airdrops of Starknet coin for using Braavos. Braavos offers innovative features like decentralized two-factor authentication, setting it apart from other wallets.

Advantages of Starknet: Scalability, Security, and Account Abstraction

  • Motty says that Starknet aims to distribute tokens to users, reducing transaction fees significantly. Lowering barriers to entry for staking $ETH and trading is economically viable and adds value for users.
  • He adds that they focus on closing the gap between web2 and web3 experiences without compromising decentralization. They focus on continuous growth to keep pace with ecosystem expansion in 2024.
  • Motty says that they aim to eliminate seed phrases while maintaining decentralization and self-custody standards. They are transitioning users from centralized exchanges to self-custodial crypto platforms like Bravos.

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Show Information

  • Medium: YouTube (Video)
  • Show: CryptoCoinShow
  • Show Title: Starknet Ecosystem continues to grow, Braavos Wallet CEO | Blockchain
  • Show Date: February 20, 2024