PoS is Fragmented. We Refuse to Accept That.
With the Staking Summit 2023 fast approaching, we set the scene for this year’s event by taking a look back at the journey that led to the unforgettable debut event last year…
From PoW to PoS: Charting a New Course
Fed up with the high capital requirements to run his Bitcoin Mining Farm in Thailand, Mirko began a mission to develop something extraordinary for Proof of Stake: a real alternative to Proof of Work. Something that would enable the participation of all stakeholders in a decentralized and open blockchain ecosystem.
However, at this time, the concept of PoS was still in its early stages and lacked a clear definition. Multiple teams were working on different aspects, making it feel immature yet exciting, like a diamond in the rough.
"To ensure that we were heading in the right direction and to strengthen the technology while staying true to our shared values, thorough research was essential," Mirko explains.
During extensive research on hundreds of PoS crypto assets and delving into the intricacies of staking economics across different chains, one fact stood out. Proof of Stake was fragmented, and new protocols often missed out on established learnings from others.
While this fragmentation is observed in various contexts like Bitcoin vs. Ethereum, we were particularly concerned about the emerging Proof of Stake industry.
"It bothered me that these teams weren't fully connected, and it sometimes felt like they were reinventing the wheel. I always envisioned crypto as a unified industry, working together to revolutionize finance and create better financial systems for everyone. We all share a common goal, so why are these ecosystems so isolated?" shares Mirko.
We believed that collaboration was vital, and we were wary of further siloes forming between important stakeholders like Ethereum, Cosmos, Polkadot, Cardano, Solana, and others.
Urgency for Unity: Overcoming Fragmentation in Proof of Stake
Thus, our mission became uniting Proof of Stake and giving the industry a unified voice and body to grow together, considering all the challenges and nuances of the technology.
The problem was evident when we attended other conferences. They were filled with irrelevant individuals who had little relevance to staking and Proof of Stake. Everything felt compartmentalized or overly focused on trading and NFTs.
Vision for Collaboration: Uniting PoS for a Common Goal
Initially, organizing a summit appeared to be a straightforward task following our modest gathering in 2021.
But our vision extended beyond the ordinary. We aspired to create a unique event that fostered cross-ecosystem collaboration in the staking space. Unlike other conferences that focused on a single ecosystem, we aimed to bring together the entire staking industry under one roof - Validators, Protocols, Institutions, and everyone contributing to PoS blockchain infrastructure.
"Let's just say we underestimated the magnitude," laughs Mirko, acknowledging the unexpected challenges.
Adding to the pressure, we had just three months until Solana Breakpoint, which would take place shortly before the Staking Summit.
Yet, we made the public announcement, and the response was overwhelming, highlighting the significance of such a gathering, especially after the Ethereum merge to Proof of Stake had solidified staking as a cornerstone narrative in the blockchain world.
Late nights and early mornings became the norm. But despite the craziness surrounding us, the Staking Summit materialized into an epic event.
"As someone captivated by PoS and staking, I finally felt at home," shares Mirko
Amidst a tempestuous storm descending upon Lisbon that day, over 550 builders and 50 high-profile speakers graced the Staking Summit, converging beneath a single roof. All PoS contacts and key players in one place.
A unified voice emerged, fueling a newfound momentum. And now, in 2023, we are poised to push the boundaries further, scaling new heights and venturing into uncharted territories.
Beyond Ordinary Conferences: The 2023 Staking Summit
The Staking Summit 2023 promises to be bigger, bolder, and more exhilarating than ever before.
Scheduled just before Devconnect, the Summit will take place on November 10th and 11th, 2023, at the luxurious 5-star Wyndham Grand Istanbul Levent Hotel in Istanbul, Türkiye.
We are all embracing a post-Merge, post-Shanghai world of Ethereum staking, and we anticipate institutional adoption to reshape the network, transforming it into a trillion-dollar industry.
With a carefully curated audience of active contributors, we will foster meaningful engagement and encourage collaborative participation.
The era of Proof of Stake has begun.
Join us alongside top PoS protocols, validators, investors, and staking experts from various blockchains and ecosystems. Together, at the Staking Summit 2023, we will shape the future of staking and craft a compelling Proof of Stake narrative.
Limited to just 1000 attendees. Get your tickets at stakingrewards.com/summit/.
Home stakers and validators can apply for a discounted price on Silver and Gold event tickets at bit.ly/stakediscount.
The Staking Summit is sponsored by leading industry names such as Obol, Chainproof, Tenderize, Luganodes, servers.com, Swing, RockawayX, Diva, CryptoStake, Attestant, Bifrost, Staking Facilities, Ankr, Davos and SafeStake.
Apply to sponsor here.