We’re asking builders in the blockchain and cryptocurrency industry what they think of the industry … and we’re throwing a few random zingers to keep them on their toes!
This week our 6 questions go to Anton Bukov, co-founder of 1inch Network, a distributed network of decentralized protocols.
Anton has been writing code for over 20 years (since the age of 12), mainly in C ++, C #, Objective-C, Swift and SQL. Since 2017, he has been working on blockchain solutions, mainly smart contracts. Anton has contributed to several crypto projects including MultiToken, Near Protocol – where he was involved in the Ethereum-Near Rainbow Bridge – and Synthetix Derivatives Liquidity Protocol, working on smart contract gas optimization.
For a while, Anton co-hosted a YouTube show, “CryptoManiacs,” with Sergej Kunz, the eventual co-founder of 1inch Network. Over a 36-hour period during a May 2019 hackathon in New York City, they developed a prototype crypto exchange aggregator that became the base of 1 inch.
1 – From smart contracts to DApps, NFT and DeFi, we’ve seen so many upcoming crypto “killer apps”, but none have really taken off yet. What will stick?
I see projects that are already taking off. This growth is exponential but remains limited by the capacity of the blockchain at this stage. Everyone expects a Layer Two solution that will eventually extend DeFi to a large number of users, sparking explosive growth.
2 – What is the most innovative use case for blockchain you’ve ever seen? It may not be the one with the best chance of success!
Real innovation occurs when a project sees blockchain as an actor following strict, programmable rules rather than a passive database. This is happening for the first time in human history – we have an ultimately honest (consensus protected) Executor. Moreover, it is unstoppable in the following instructions. Currently the most interesting apps for me are automated market makers (AMM) and money markets (aka loan protocols).
3 – Do you subscribe to the idea of Bitcoin as a means of payment, as a store of value, like both… or like neither?
I respect Bitcoin – I mean, the engineers behind it – for being the first blockchain, but from my perspective, blockchains with smart contracts make a lot more sense at this point. Bitcoin can still function as a store of value, but as a means of payment – sorry, I no longer believe it. Lightning Network and IOU technology can only work for a small subset of the community / population. Most people prefer to use less volatile currencies for payments, such as stablecoins.
4 – Who makes sense to you, and who doesn’t?
Innovators, inventors, and smart people make sense, and this category does not generally overlap with popular people. Advice from popular people doesn’t necessarily mean something to everyone, but few understand it.
5 – Where are you with extraterrestrial intelligence and the existence of life elsewhere in the universe?
I firmly believe in it – the probability is very high. Overall, I’m curious about non-protein life forms. And I’m curious about the lack of physical determinism. This could be the only reason for the possibility of life.
6 – Which book influenced you the most? Why?
I like 80s sci-fi books. Maybe Frost and Fire by Ray Bradbury made me think a lot about life and time.
A wish for the blockchain community:
Take part in hackathons and engage in building a decentralized future – it’s a huge space with huge opportunities. All of these crypto prices are only bringing more attention to this industry. But the real gem is the innovations and the projects!