S16 E61: Alan Szepieniec on Privacy, Scaling & Quantum Resistance

DEC 11, 2025161 MIN
Bitcoin Takeover Podcast

S16 E61: Alan Szepieniec on Privacy, Scaling & Quantum Resistance

DEC 11, 2025161 MIN

Description

Alan Szepieniec is a cryptographer & systems architect who specializes in Zero Knowledge proofs. He created Neptune Cash, a L1 network which combines ZK STARKs with Proof of Work in order to have a money system that's private, scalable & quantum resistant. Time stamps: 00:00:00 Intro & Sponsors 00:02:30 Welcome Alan Szepieniec 00:03:02 Alan's Background in Cryptography & Libertarianism 00:05:15 Path to Bitcoin & Privacy Disillusionment 00:07:30 Privacy as Essential for Fungible Money 00:09:44 Network-Level Privacy & Censorship Resistance 00:12:15 Debate on Privacy Improvements in Bitcoin 00:14:01 Scalability Trade-offs with Recursive ZK Proofs 00:17:26 Lightning Network Privacy Limitations 00:22:39 Lightning's Potential for High-Frequency Trading 00:26:41 Custodial Risks & ZK-Proven Custodians 00:31:21 Sponsor: Unstoppable Wallet 00:33:17 Sponsor: Sideshift.ai 00:34:20 ZK-STARKs Explained & vs ZK-SNARKs 00:36:12 Quantum Resistance & Transparent Setup 00:41:56 Drivechains (BIP 300) & STARK Integration Potential 00:44:58 OP_CAT vs Custom Opcodes for STARK Verification 00:49:46 Why Coinjoins Aren't Sufficient for Privacy 00:56:27 Lightning's Unique Privacy Properties 00:56:50 Halo 2 & Removing Trusted Setup from SNARKs 00:58:44 Zcash L2 on Starknet 01:00:26 Why ZK-STARKs on Layer 1 01:03:20 Neptune Cash: Privacy, Scalability & Smart Contracts 01:07:33 Custom STARK Engine & Assembler Language 01:09:09 Proof-of-Work Design & GPU Mining 01:14:08 Inflation Bug & Network Relaunch 01:17:13 Decentralization Roadmap 01:19:00 Current Drawbacks: UX & Proof Generation 01:22:39 Node & Transaction Hardware Requirements 01:29:36 Quantum Computing Threats Discussion 01:33:01 Satoshi's Coins & Quantum Risks 01:36:38 Store of Value vs Medium of Exchange 01:43:13 Regulations Hurting Adoption 01:45:40 Monero Talk & Signatureless Transactions 01:47:58 Monero vs Bitcoin Communities 01:54:06 Adding Lightning Network to Neptune Cash 01:55:06 Lightning Network & Atomic Swaps Potential 01:56:48 Removing Centralized Exchanges via Bridges 01:57:17 Neptune Cash Lightning Network Plans 01:58:36 Prioritizing Faster Proving & Smart Contracts 02:00:36 Rapid Fire: Max Supply (40.5M after burn) 02:01:24 Block Time (9.8 minutes) & Difficulty Adjustment 02:01:56 Block Size (8 MB limit) 02:02:21 Elevator Pitch for Neptune Cash 02:03:17 Sidechain/Drivechain/Rollup on Bitcoin? 02:04:33 Privacy Comparison: Neptune vs Zcash vs Monero 02:05:38 Mutator Set vs Nullifier Set Explained 02:06:48 Privacy Ratings (Zcash 8/10, Monero 9/10 future, Neptune 6-7/10 + scalability bonus) 02:09:18 Scaling Ratings (Bitcoin 9/10, Neptune 8/10 future, Zcash/Monero 6/10) 02:12:24 Price Movement During Interview & Shitcoin Debate 02:14:54 Premine vs Fair Launch Discussion 02:17:35 Ethereum Premine Success & Grin vs Beam 02:19:10 Zcash Dev Fund Model 02:22:17 Building Circular Economies & Network Effects 02:27:04 Could Bitcoin Become Like Neptune Cash? 02:30:44 Connection Issues & Wrap-Up 02:33:05 Legacy UTXOs & Quantum Vulnerability 02:35:09 Where to Follow Neptune Cash & Alan 02:37:09 Is Satoshi an AI/Time Traveler? 02:38:46 Final Thanks & Goodbye