Zilliqa President and CSO Amrit Kumar joins industry experts Emilie Raffo (PwC Switzerland), Miko Matsumura (Gumi Cryptos), Alex Mashinsky (CEO, Celsius Network) to talk about the future of decentralized finance at the Greater Bay Area Blockchain Week 2021 virtual event.

The discussion is available on You Tube Video on GBA Blockchain Week Panel feat. President and CSO Amrit Kumar: DeFi after ETH 2.0 – What’s Next?

Zilliqa expressed, Right now, only a small % of Defi users come from emerging markets. We all need to ensure that it serves more than the tech and financial elites. “Rather than move fast, break things – we need to move responsibly.”

Cameron Sajedi recently published about Zilliqa’s carbon footprint in Context.  The author points to how Zilliqa’s adoption is on the upswing and on how new dapps are getting launched.  Further reinstated on how Scilla is set to reach the milestone version 0.10 release.

He has pointed to the fact that as their growth is getting accelerated Zilliqans should understand the implications of Proof of Work. When talking about the implications of the Proof of Work Cameron pointed to, “the use of Proof of Work in the chain to estimate both the 2021 total and 2021 per-transaction CO2 that Zilliqans should worry about.”

He tried to clarify on where Zilliqa’s use of PoW comes into the picture. He calls the protocol level Proof of Stake is a fool’s errand. He pointed to how Proof of Work is essential to the performance of a public blockchain and on how it is likely that every Proof of Stake or Proof of Authority solution which has been evaluated as of today is doomed to fail.

He piggy backs on the details of Bitcoin Energy Consumption Index.  He also points to how Zilliqa’s hashpower comes from roughly the same types of machines, running with similar mixes of electric power sources to the Ethereum mining network.

He has written a section titled, where Zilliqa is thrifty. He clarifies on how Zilliqa make use of PoW to mint the DS block and organize the shards during the beginning of an Epoch. He also tried to differentiate the point stating, Ethereum and Bitcoin will be using 100% of their hashrate to solve puzzles in PoW, but Zilliqa needs PoW for one 60 second cycle at the start of a new Epoch.  Those who are interested in knowing deeper technical details should check Zilliqa’s Carbon Footprint in Context.