Incrypted Conference 2024 Recap

The significance of networking, gaining new knowledge, and enjoying the company of like-minded individuals is paramount in the crypto world. This is particularly true for an event in Ukraine like Incrypted Conference 2024, arguably a central gathering in the industry. 

This year’s conference featured an array of speakers:

• Crypto project members: Harry Halpin (Nym), Iryna Timchenko (Everstake), Vadym Hrusha (Trustee);
• Investors: Michael Taylor and Janis Graubins (WTG Ventures);
• Influencers: Serhii 001k (001k exchange), Kateryna Shukhnina (Investanuta), Max Grishko (The Wolf Of Your Street);
• Traders: Cryptomannn (Cryptomannn Academy), Kostya Kudo (Cryptology), and others.

The The Coinomist team attended Incrypted Conference 2024 and is excited to share our experiences.

Daniel Albert, Executive Director at Solana Foundation

Daniel Albert, the Executive Director of the Solana Foundation, opened the conference. According to the organizers, Daniel's journey took two days, traveling from the USA to Germany, then to Poland, and finally to Ukraine. Beginning his talk with the familiar Ukrainian greeting, “Dobryi den. Diakuiu” (Good day. Thank you), he shared insights about the Solana blockchain's features, future plans, and the story behind the company’s founding.

It's crucial to recognize that not all blockchains compete against each other. The market faces numerous challenges that need solutions, including Solana. Daniel highlighted that Solana's blockchain is tailored for widespread adoption through its adequately decentralized infrastructure, excellent scalability, swift transaction processing, and low fees. 

The primary mechanism for Solana's blockchain scalability involves parallel execution. We previously devoted a complete article to this topic.

The speaker disclosed an obscure piece of Solana's origin story from May 2019. It's hard to believe, but one of the largest blockchain platforms globally was initiated by four individuals in a basement, with just one shared credit card. This minimal start was enough for a group of enthusiasts to launch the Solana Network.

Just three months later, the project expanded to seven servers and its own data center. As of June 2024, Solana operates 5,727 nodes in 40 countries worldwide.

Daniel discussed the upcoming launch of Firedancer—an independent validator client for Solana. Currently in the testnet phase, its mainnet launch is anticipated by the end of 2024.

Furthermore, the Executive Director of the Solana Foundation discussed the latest blockchain upgrade—Token Extension. This new token standard on Solana allows for customization to meet specific business needs. For instance, PYUSD by PayPal was launched using this Token Extension.

Towards the end of his presentation, Daniel shared his views on the DePIN sector, which many experts believe has significant potential for mainstream adoption. He highlighted two DePIN projects on Solana:

• Helium: A decentralized network for 5G, WiFi, and IoT;
• Hivemapper: A street-level mapping solution;

He also shared insights for the first time in Kyiv about Blinks, a new solution that facilitates fast transactions on the Solana blockchain from almost any website using special links. 

The Solana Foundation officially announced Blinks on June 25, two days after Incrypted Conference 2024.

Harry Halpin, CEO at Nym Technologies SA

Another prominent guest at the conference was Harry Halpin, CEO of Nym—a company focused on internet privacy solutions. His presentation addressed the use of VPN-type anonymizers during warfare. Before his talk, Halpin's support for Ukraine was evident as he appeared in a traditional Ukrainian embroidered shirt.

Halpin explained the fundamental workings of the internet, VPNs, and anonymous browsers like Tor. When users are active online, they transmit their data to a server. Using a VPN, data is rerouted through a VPN provider, while Tor, for instance, passes the data through three Tor relays. However, these methods offer only partial confidentiality since they are susceptible to user identification through behavioral pattern tracking.

Halpin introduced an alternative solution for privacy—Nym Mixnet. This system makes it nearly impossible to trace users by generating fake traffic and noise in addition to rerouting requests through multiple relays.

According to Halpin, NYM uses a zero-knowledge proof technology known as zk-nyms, akin to zk-SNARKs, allowing it to verify token transfers without disclosing the details of the transactions.

Towards the end of his speech, Halpin answered audience questions and expressed his wish to return to a free Ukraine in the following year.

Michael Taylor and Janis Graubins, Co-founders of WTG Ventures

Michael Taylor and Janis Graubins, from the Swiss VC firm WTG Ventures, also attended Incrypted Conference 2024.

With more than seven years of experience at WTG Ventures, the speakers identified the most promising investment areas in the crypto industry:

• Under-Development Infrastructure: Money transfers and DePIN platforms
• Re-Imagining Capital Markets: AMM and derivatives exchanges
• New Tech: Artificial intelligence
• Community Led Ownership: Social commerce

Additionally, the investors hosted an investment masterclass, examining specific projects within a particular niche, assessing their value, current performance, and potential for growth. Among the projects discussed were KiiChain, Onocoy, Algebra, D8X, Nevermind, and FRNZY.

Panel Discussion: How Crypto Marketers Are Making Fool of You

The panel discussion at Incrypted Conference 2024 was a highlight for attendees, featuring an engaging debate about marketing within the cryptocurrency industry. The panelists included Pasha Mark, Oleg Bevz, Anton Ravliuk, Max Grishko, and Roman Sobko. They explored questions such as “How do crypto marketers deceive you?” and “How do you select a marketer for a crypto project?”.

During the discussion, the speakers emphasized that the most effective marketing tool in the crypto space is visibility and discussion around the project. They noted that if influencers consistently talk about a project, it will inevitably build public trust and interest in investing. They advised that such projects should not necessarily be avoided, but it is crucial to engage early and exit strategically.

Addressing how projects deceive users through marketing, Max Grishko pointed out instances where projects themselves become victims of their marketing teams. The discussion yielded several pieces of advice for the audience:

• Avoid outsourcing marketing efforts and instead, build a dedicated in-house PR team.
• Carefully evaluate the service package offered by marketers to ensure it aligns with the company’s operations.
• Educate oneself on psychological tactics to better navigate manipulative marketing strategies during negotiations.

The discussion lasted an hour, delving into other significant topics such as the current bull run, the future of airdrops, and the influence of tap-to-earn crypto games within the industry. The entire discussion is available for viewing on Incrypted’s official YouTube channel.

Vitalik Buterin: The Biggest Surprise at Incrypted Conference 2024

Days before the event, it was known that the Ethereum creator was in Kyiv for the ETH Kyiv Hackathon to support the Ukrainian Ethereum community. However, details about his possible attendance at Incrypted Conference remained confidential.

Around 11:00 AM EST, he took the stage to award the winners of the earlier hackathon. The organizers of Incrypted Conference gifted Vitalik exclusive merchandise, an NFT from the UACatsDivision series, and a physical model signed by the President of Ukraine, Volodymyr Zelenskyy.

After the award presentation, Vitalik, along with his security, exited the stage. A lucky few attendees managed to get photographs with the Ethereum legend near the stage and in the parking area.

Atmosphere at Incrypted Conference 2024

Aside from the main conference events, participants enjoyed a dedicated networking area, buffet, PlayStation 5 gaming, and interactions with various company representatives. The conference took place on the 3rd floor of the Parkovy CEC, boasting a magnificent view of Kyiv’s left bank.

A photographer was present to capture memorable photos of attendees by request. Additionally, various influencers created thematic TikTok videos and hosted contests.

During a private discussion with The Coinomist, conference attendees shared that they found the 2024 event to be more expansive than previous ones. Some had even already purchased tickets for Incrypted Conference 2025.

What did you think of the conference? Share your thoughts in our Х channel!