Summary: Permissionless, one of the largest decentralized finance (DeFi) conferences and expos in the world taking place in Palm Beach, Florida, wrapped up day one out of three on Tuesday, with big announcements leading the way throughout the day. Permissionless is the name of the event and also refers to a public blockchains that allow anyone ...
Permissionless, one of the largest decentralized finance (DeFi) conferences and expos in the world taking place in Palm Beach, Florida, wrapped up day one out of three on Tuesday, with big announcements leading the way throughout the day.
Permissionless is the name of the event and also refers to a public blockchains that allow anyone to participate in validating and mining transactions, as well as using the system to buy, sell and trade assets. Bitcoin and Ethereum are the two largest crypto currencies by price and market cap and also happen to be permissionless. On the other hand, Ripple (XRP) is an example of a permissioned blockchain.
Nevertheless, here are some key takeaways from day one from Florida.
Robinhood’s New APP
The biggest announcement of the day was Robinhood’s Web3 non-custodial wallet, allowing users to own their own crypto and non-fungible coins (NFTs). This will come in the form of a new stand-alone app, giving back users their autonomy. In addition, it will allow users to trade and swap crypto with no network fees.
While there is no official release date at the moment, users can sign up now. At the time of writing, the wait list was 339,574 people long.
“At Robinhood, we believe that crypto is more than just an asset class,” said Vlad Tenev, co-founder and CEO of Robinhood in a press release. “By offering the same low cost and great design that people have come to expect from Robinhood, our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.”
This app will rival others in the industry like Binance, Biconomy Exchange, Coinbase and many others in the field.
Ledger’s Browsers Extension
Ledger, a security and infrastructure solutions for cryptocurrencies company, announced they will launch “Ledger Connect,” a new and multi-chain browser extension for Safari. The beta version is set to launch soon, though it is unclear how many people have signed up at the moment.
“Ledger Connect” will enable you to seamlessly connect your Ledger hardware wallet to your favorite Web3 app without the need for third-parties wallet dependencies,” the press release said. “Ledger Connect” will also add a new security layer called “Web3 Check. When a Web3 app will look suspicious, “Ledger Connect” will automatically warn you about potential security risks.”
Variant Fund’s Thesis Statement
Li Jin, co-founder of Variant Fund, an early-stage venture firm investing in crypto networks and platforms, talked about their thesis as a firm: the ownership economy. She described the ownership economy as an economy where digital ownership takes precedents. She hypothesized that the best software for this economy is software that turns users into owners.
Ownership can come in many forms, whether it’s individual, collective, active or passive, but ownership is the key for users going forward, according to the co-founder.
“That’s something the Web2 platforms can never offer, and so I continue to be really bullish on Web3 networks that make ownership truly a keystone of their user experiences,” she said.
Author: Tyler Irvin