Inside Tempo: Stripe's New L1 For Payments
Malesh from Special Mechanisms Group discusses joining Tempo, Stripe's new payments-focused L1 blockchain, covering MEV, stablecoins, credible neutrality, and why they didn't build on existing chains.
The Gwart Show | Blockspace Media
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Show Notes
Mallesh, formerly Special Mechanisms Group and Rice University joins us to talk about his move to Tempo, Stripe's new payments-first blockchain.We dive into why they built another L1, multi-stablecoin architecture, MEV challenges in payments, with credible neutrality Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Tempo is designed for fast finality payments • Stablecoin agnostic w/ AMM • Reserved block space for payment txns • Cross-border wire transfers are still broken for traditional systems Timestamps: 00:00 Start 00:25 Who is Mallesh? 01:50 Special Mechanisms Group 03:49 Consensys
05:34 Tempo 08:14 Advantages of Tempo 10:36 Specific Tempo designs 13:58 Fungible stablecoins 14:44 Tether & economies of scale 18:14 Validator set 22:45 Payments Only blockspace 25:51 Mallesh's title 26:58 Products 28:36 Tempo AMM 30:33 Remittance use case 35:16 International transfers & corespondent banks 41:26 Are banks cooked? 43:30 Why a new Layer 1? 48:08 Credible neutrality 50:36 Crypto Twitter is now the kiddie pool 54:45 The future of proof of Stake is... trust 1:04:03 MEV memory hole
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