This Bankless podcast episode interviews Smokey the Bera, co-founder of Berachain, a new layer-1 blockchain utilizing "Proof of Liquidity." The interview begins with an introduction to Berachain and its unique community-first development, evolving from an NFT project to a blockchain with a novel consensus mechanism. The core discussion centers on Proof of Liquidity, a three-way system involving the application layer, validators staking Bera (the native token), and BGT governance token holders who delegate to validators, influencing block rewards and directing them to applications. Bera is used for transaction fees, while BGT, a non-transferable token, is earned by providing liquidity and can be burned for Bera. The interview concludes with a discussion of Berachain's market entry strategy, technical scaling plans, and addressing criticisms about its VC backing.
