Staking: The Foundation of Web 3 - Lorien Gabel (Figment) - TOKEN2049 London
In this insightful talk at TOKEN2049 London, Lorien Gabel, co-founder of Figment, delves into the crucial role of staking in the evolution of Web3. Moving beyond traditional internet frameworks, Gabel asserts that Web3 represents a decentralized, blockchain-driven future where users actively participate in networks rather than passively consuming services. Central to this vision is staking, a process where users commit their tokens to secure and govern blockchain protocols, thereby embedding themselves within burgeoning digital communities.
Gabel highlights the shift from speculative assets to more participatory and community-driven economic models enabled by staking. He argues that unlike Bitcoin's proof of work, where participation is limited to investing in mining infrastructure, proof of stake allows token holders to directly engage in and influence the protocol's development and governance. This democratization of financial ecosystems promises a fairer internet where value and decision-making power are distributed among its participants.
Addressing common concerns, Gabel acknowledges the inherent financial and technical barriers in staking but emphasizes opportunities for broader participation through foundations, DAOs, and community incentives. He also discusses the nuanced risks associated with staking, urging stakeholders to understand and manage these effectively.
Engage with the next wave of internet evolution by exploring how staking underpins Web3. Join Lorien Gabel as he sheds light on creating decentralized communities and deriving value from collective participation. For more thought-provoking content on blockchain and decentralization, like, comment, and subscribe to our channel.
