We sat down with Tim Coulter, the founder and CEO of Truffle, a leading Ethereum development framework, exploring the future of blockchain development and decentralized applications. On August 2nd, at the Microsoft Campus in Redmond, the company will host its annual TruffleCon, an exclusive event dedicated to Ethereum developers worldwide.
Before blockchain, Coulter built a career specializing in software testing and developer support, which became extremely valuable in the early days of blockchain development. He's now surrounded by an exceptional team building the next generation of blockchain development tools. Below is our exclusive interview with Tim Coulter (TC).
How did you get started in blockchain and why did you create Truffle?
TC: I became fascinated with blockchain technology right after the Bitcoin boom of 2013. After reading about the surge and how I had missed out, I became so captivated by the technology that I immediately started mining and trading Bitcoin and other cryptocurrencies. When the startup I was working for ran out of funding in early 2015, I decided to work in blockchain full-time. That's when I discovered Ethereum and ConsenSys, and have been an Ethereum contributor ever since.
I built Truffle out of necessity while working at ConsenSys. My goal coming in was to build blockchain applications, though I quickly learned Ethereum lacked the development tooling needed to make that process straightforward. What started as a few scripts meant to simplify my workflow evolved into a comprehensive suite of development tools designed to make every developer's life easier.
What is the mission of Truffle and TruffleCon?
TC: We want to make building blockchain applications as seamless as possible. To that end, we're committed to creating the tools developers and enterprises need to build maintainable, scalable applications on top of blockchains and distributed ledger technologies.
At TruffleCon, we aim to bring together our community members to share experiences and teach each other how to build blockchain applications with Truffle. We've assembled an incredible lineup of speakers showcasing what's new in the blockchain space and how the industry is evolving (we even include legal discussions for developers who need them). We'll also be presenting the future of Truffle and how we're gearing up to tackle enterprise blockchain development. We'll be making some major announcements on stage with support from some major enterprises, so you won't want to miss it.
What is ConsenSys' relationship with the Truffle company and the event?
TC: Truffle was started within ConsenSys as a much-needed development project. ConsenSys helped incubate Truffle and provided the resources needed to build tooling now used by the entire blockchain development ecosystem. Truffle officially spun out of ConsenSys in January with $3 million in funding to address the growing and complex needs of enterprise blockchain development.
What will blockchain dApp development look like in the next 5-10 years?
TC: This is an excellent question, and likely something I'd need more time to fully address. I recently shared my thoughts on POVCrypto, a podcast I was featured on, where advancements in blockchains and distributed protocols could transform the landscape of privacy development as we know it. Bottom line, whether or not those exciting advancements materialize, I'm confident blockchain technology is going to permeate every industry, providing innovative ways for individuals and companies to interact in a connected world.
How important are tokenomics in dApp development?
TC: This highly depends on the application. Tokens provide incentives for activity, as well as a method of representing ownership of certain on-chain and off-chain assets. Some tokens are likely to power blockchain economies, like DAI, and of course, Ether will always be a required gas to run the network itself. Not all dApps require a token, though we're likely to see tokens as a cornerstone in many applications that use the blockchain as a system of record.
Why or why shouldn't a dApp use a native token?
TC: Tokens already exist in daily life, and having tokens on-chain is no different. For example, like Ether, physical tokens power arcades, and you have to purchase those tokens to play games. Tickets to the movie theater are a form of token: If you hold a ticket, you're granted access. The deed to your house is another token, it signifies that you have ownership over that property. As we build applications on top of the blockchain, we'll need tokens in order to represent things like ownership, provide access, or process payments. Some tokens are specifically designed to incentivize certain behaviors (e.g. they're not transferable, or expire, or hold less value over time) and those tokens can be used to facilitate beneficial interactions between all participants.
Is the U.S. at risk of falling behind in blockchain innovation?
TC: I don't think so. I believe our legal panel at TruffleCon will provide their own perspective, but in my view, ConsenSys, Libra, and other players in the blockchain space are working hard to advance regulations that are favorable to blockchain innovation. So far, I've seen regulators treat crypto assets as favorably as possible in relation to non-crypto assets, so my hopes are high that these policies will continue.
What is your opinion on Libra?
TC: Libra is an exciting project. It's destined to bring cryptocurrency to the masses, and for that, I'm thrilled. There's still some uncertainty around its technical and social implications, but if one thing is certain, it's that Facebook has the resources and user base to educate our population on the benefits of cryptocurrency and blockchain technology. So, all in all, I think it's a win for the industry.
Why did you choose Redmond as the event location?
TC: Microsoft graciously offered to host our event this year. We recently partnered with Microsoft to build world-class development tooling for blockchain applications.
What should attendees expect to get out of the event?
TC: The first day of TruffleCon, Friday, features full-day workshops. Here, attendees will gain hands-on coding experience on their topic of choice, dive deep into technical subjects and learn blockchain development directly from experts. These workshops were highly praised last year as an incredible and valuable learning experience, providing attendees the opportunity to ask questions in an intimate setting.
The next two days of the conference, Saturday and Sunday, feature our main stage keynotes and talks from our outstanding speakers. The keynotes will include updates from me and the Truffle team and will feature some exciting announcements about the future of Truffle and how we're addressing enterprise blockchain development. The conference talks cover everything from smart contract development, to design, to security and the legal implications of blockchain development. These talks come from amazing community members and shouldn't be missed!
Which speakers are you most excited to have?
TC: Personally, I'm really looking forward to the talk from Alishba Imran, a 16-year-old blockchain developer who has a background in blockchain development nearly longer than mine! Especially longer than what I had when I was 16. She's extremely impressive, and I can't wait to meet her. I'm also excited about a legal panel we're hosting with five diverse legal professionals, discussing the legal implications of blockchain development.
We have tons of amazing talks so it's really hard to choose. You can see the list of speakers and our conference schedule here.
TruffleCon 2019 will be held at the Microsoft Campus on August 2-4. For more information, watch the video below or click here.
