Denver Attracts Thousands of Ethereum Developers with Grunge-Hacker Style

• ETHDenver is an annual ethereum-focused event dedicated to hacking and networking.
• The multi-day summit attracted legislators, politicians, celebrities, royalty, and prominent figures from the development community to discuss web3, NFTs, DAOs, and ethereum's upcoming major upgrade on the mainstage of the Castle.

In downtown Denver, near the Colorado state capitol, stands the Sports Castle, a six-story building that was originally a Chrysler car showroom constructed in 1927. Instead of stairs, sweeping ramps encircle each floor, fitting the grunge aesthetic of ETHDenver, an annual two-week event that attracts some of the brightest and most innovative minds in the ethereum ecosystem.

John Paller, the founder of ETHDenver, said, "The atmosphere here is like we've broken into an abandoned warehouse. It embodies the spirit of that emerging, almost revolutionary vibe, where it's almost like we're building something without anyone even realizing it."

The cat is out of the bag after five years, as Paller tells CNBC that over 20,000 people registered for this year's event. He estimates that more than 13,000 people attended the official gathering, along with the over 350 ancillary events. ETHDenver organizers claim that it is now the largest and longest-running ethereum event in history.

Ethereum, the world's second-largest cryptocurrency by market cap, is renowned for its smart contracts, which are programmable pieces of code that could potentially replace intermediaries like banks and lawyers in specific business transactions in the future.

CNBC reports that hackers are referred to as BUIDLers, a playful misspelling of "builders" in tribute to the bitcoin meme, HODL, which means "hold on for dear life."

Paller stated that the community is deeply committed to building rather than holding.

The meme-off highlights the fundamental differences between these two distinct groups.

Ethereum programmers tend to move quickly and experiment with new ideas, while Bitcoiners prioritize security and decentralization above all else.

Ethereum is the primary building block for various crypto projects, including NFTs, DeFi, and web3, which refers to the third generation of the internet that is decentralized and constructed using blockchain technology. According to State of The dApps, 74% of DeFi apps and most NFTs operate on Ethereum.

Ethereum is set to undergo a major upgrade from proof-of-work mining to proof-of-stake consensus mechanism, which will reduce energy consumption and potentially increase transaction speed by 7,000-fold to 100,000 transactions per second, as per founder Vitalik Buterin.

The ETHDenver vibe

As you climb the castle's ramps, the chambers of a nautilus-like structure reveal themselves at the edges of the rooms.

The event offers a variety of experiences beyond the usual stages and company booths, including massage with crystals, sensory deprivation zone, meditation rooms, gong baths, DJ "chill rooms" with NFT-enabled sound systems, NFT art galleries, coding zones, an open bar lounge with plush leather sofas, workshops for circuitry tinkering, a life-size chess set, bean bags for napping and hanging, and a puppy play room in the spirit of inclusivity.

Looking to break free of the main venue, there are satellite outings that include tequila tastings, a Deadmau5 dance party, and a crypto-powered poker tournament with a buy-in of .05 ETH, or about $130.

Politicians, celebrities, royalty, and prominent figures in the development community discussed web3, NFTs, DAOs, the upcoming ethereum upgrade, and other pressing issues during the conference at the Castle.

The group of speakers included Colorado Governor Jared Polis, former U.S. presidential candidate Andrew Yang, Elon Musk's younger brother Kimbal, and Buterin himself.

ETHDenver is not just about speakers and panels; it's primarily a hackathon where thousands of developers worldwide come together to build projects from scratch and compete for the $1.5 million in bounties. Although hackathons are common, ETHDenver is widely regarded as the top destination for ethereum developers.

Dani Osorio, head of content for ETHDenver, described the event as a combination of tech, Mr. Robot, Burning Man festival, and Celebration of Life. He said, "It's like tech meets Mr. Robot, meets Burning Man festival, meets Celebration of Life."

Paller stated that the conference is not just about sitting and listening while wearing a suit and pretending to be someone else. Instead, it allows participants to be themselves and contribute to shaping the future in any way they desire. In essence, it's a "choose your own adventure."

Christine Perry, a former Defense Department contractor who became interested in crypto, is one of the hackathon judges at ETHDenver. She explains that the event is a platform for developers to learn about existing and potential projects, collaborate, and make them a reality.

"I was convinced that ethereum was the blockchain that would bring about significant changes because of the large number of developers and people experimenting with it," said Perry, who had previously set two world records for group skydiving events.

ETHDenver is a hub for space advancement. Since they've already established partnerships, they continue to push the project or ecosystem forward.

The tech scene in ETHDenver has evolved beyond just developers.

According to long-time ETHDenver attendees, the summit has become more commercial than it used to be. Companies are now more open about promoting their products and using the event for recruiting talent and generating revenue. The organizers of the summit have given more priority to company booths in recent years, particularly in the Castle area.

Keatly Haldeman, CEO of Dequency, a web3 music sync licensing platform, stated, "It's a group of hackers working on projects, along with investors, but these investors are not typical bank investors; they're also hackers who made a fortune in crypto in the past. It's just so exciting!"

Ethereum's sub-tribes encompass a diverse range of individuals, including artists such as NFT star Emily Yang, better known as Pplpleasr, as well as humanitarians like Kweku Mandela (grandson to Nelson Mandela) and Princess Sarah Culberson of Sierra Leone, who have spoken about the potential applications of crypto in emerging economies.

On Thursday morning, the group left for a ski trip to Breckenridge, regardless of their sub-tribe.