The State Of Crypto & AI | Illia Polosukhin & Bowen Wang

Feb 25, 2025

Illia Polosukhin, co-founder of NEAR Protocol and a pioneer in AI research, joins Bowen Wang, a key contributor to NEAR's scaling efforts. They dive into how NEAR is revolutionizing blockchain with AI and improving scalability through sharding innovations. The duo discusses unlocking cross-chain liquidity and the challenges and opportunities in decentralized systems. They also explore the fascinating intersection of smart contracts and AI, predicting an exciting future for user experience in the crypto space.

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INSIGHT

Multi-Chain Focus Despite Sharding

NEAR is focusing on multi-chain interoperability despite having a viable sharding solution for scaling.
This approach recognizes the persistent multi-chain reality and aims to abstract away the complexities for users.

INSIGHT

NEAR's Sharding Implementation

NEAR's sharding implementation allows validators to track one shard at a time, ensuring security and speed.
This approach minimizes database reads and keeps execution in memory, similar to Solana's method.

ANECDOTE

NEAR's User Base

NEAR has around 15 million monthly active users, many unaware they use NEAR due to chain abstraction.
Apps like Sweat Wallet and Hot Wallet utilize NEAR's technology, but users primarily identify with the app, not the underlying blockchain.

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Gm! This week we're joined by Illia Polosukhin & Bowen Wang to discuss the current state of crypto, AI & what's next for NEAR. We deep dive into NEAR's approach to scaling, L1 value accrual, how to unlock cross chain liquidity, Ethereum's alignment problem & more. Enjoy!

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(00:00) Introduction

(00:51) The NEAR Thesis

(04:19) NEAR’s Approach To Scaling

(11:21) Bonk Bets Ad

(11:53) NEAR’s On Chain Demand

(19:24) L1 Value Accrual

(23:06) OmniBridge: Unlocking Cross-Chain Liquidity

(25:44) The State Of Crypto & AI

(33:15) Crypto Tax Calculator Ad

(33:47) Bonk Bets Ad

(34:19) What Are Shade Agents?

(40:11) Trusted Execution On NEAR

(42:51) Blockchain For AI

(45:03) The State Of Crypto

(48:42) Ethereum’s Alignment Problem

(50:28) What’s Next For NEAR?

Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation.

Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Jack, and our guests may hold positions in the companies, funds, or projects discussed.