Crypto Council For Innovation
Subscribe
No Result
View All Result
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Releases
  • Analysis
    • All Analysis
    • Crypto in Action
    • News Analysis
    • Explainer
  • POSA
  • Comment Letters
  • Policy Briefs
  • Reports
  • Security
  • Financial Literacy
  • Policy
  • EU Elections
  • Crypto in Action
  • Explainer
    • Defi
    • NFTs
    • DAOs
    • Layer 1s
    • Layer 2s
    • Government
    • Infrastructure
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Releases
  • Analysis
    • All Analysis
    • Crypto in Action
    • News Analysis
    • Explainer
  • POSA
  • Comment Letters
  • Policy Briefs
  • Reports
No Result
View All Result
Crypto Council For Innovation
No Result
View All Result

Home » What are Layer 2s and Why Are They Important?

What are Layer 2s and Why Are They Important?

byCCI
April 13, 2023
in Explainers

Summary

  • Layer 2 refers to a set of off-chain solutions (separate blockchains) built on top of layer 1s that reduce bottlenecks with scaling and data.
  • Layer 2 extends Ethereum as a separate blockchain above the layer 1 network. As mentioned, it communicates and helps offload the heavy burden of transactions from the mainnet through smart contracts that integrate and benefit from Ethereum’s robust decentralized security model.
  • Work that would be performed by the main chain can be moved to the second layer. Layer 2 applications then post the data of transactions to layer 1 where it’s secured in the blockchain ledger and history.
  • A version of this article first appeared on Coindesk. Read more Crypto Council explainers.

To start, we need to define what a layer 1 is: A layer 1 network is the base layer, or the underlying infrastructure of a blockchain. Also known as the main network or “mainnet,” it not only defines the core rules of the ecosystem, but can also validate and finalize transactions, as seen with examples like Ethereum, Bitcoin and Solana.

Layer 1 blockchains often start with an emphasis on decentralization and security – both of which are core tenets of any sound network and (with some exceptions) are maintained by a diverse, global network of developers and participants like validators.

Due to a lack of any central authority or oversight, these platforms require the technology itself to have an innate amount of security to protect users from scams and attacks. And because of this priority in design, not to mention the immense resources it takes to maintain a fully functional ecosystem, they’ve often lacked scalability.

While some developers believe that the inability to achieve a state of equilibrium between security, decentralization and scalability is an inexorable flaw of the technology (dubbed the Blockchain Trilemma), layer 2 solutions, such as rollups on Ethereum, and the lightning network on Bitcoin are one solution used to solve these issues.

What are layer 2s?

Layer 2 refers to a set of off-chain solutions (separate blockchains) built on top of layer 1s that reduce bottlenecks with scaling and data. Think of it like a restaurant kitchen – if every order had to be made by a single person from beginning to end before the order was confirmed and delivered, it would be a very slow process that could only fulfill a few orders an hour. But layer 2s are like prep stations – there’s a station for cleaning and cutting food, a station for cooking, a station that assembles the dishes – that is able to focus and do each task much more efficiently. When the time is right, a final person can match each assembled dish to the order and confirm it before it is sent to the final destination (the customer).

Payment platforms like Visa also use a similar system. Instead of separately managing thousands of daily micro transactions from a vendor like Starbucks that would clog the network in minutes, Visa groups them into batches to be settled in the banking system at regular intervals. The banks then store and sort transactions through their internal equivalent of a settlement layer. In this case, Visa would be a layer 2 and the broader network of institutions and government that keep a record of transactions and define the rules of the financial industry as a layer 1.

Ethereum also uses a similar method through features like Optimistic and zero-knowledge (ZK) rollups that offload the burden of managing transactions from the mainnet and thereby enable greater transaction inclusion and throughput (higher transactions per second). All of which makes for a more seamless and practical user experience. Examples of layer 2s on Ethereum include solutions like Arbitrum, Optimism, Loopring and zkSync.

What are Ethereum Gas Fees?

Why are layer 2s important?

While decentralization and security are a modus operandi of the layer 1, or mainnet, of Ethereum, the ensuing market popularity over the years has caused the network to reach its current capacity of just over 1.5 million daily transactions. Furthermore, as the mainnet can only process around 15 transactions per second, periods of high network activity often lead to data congestion. This, in turn, causes gas (transaction fees) to rise and slows the performance of applications, most recently seen by the Yuga Labs Otherside virtual land sale and during the bull market of 2021.

To combat these issues, layer 2 extends Ethereum as a separate blockchain above the layer 1 network. As mentioned, it communicates and helps offload the heavy burden of transactions from the mainnet through smart contracts that integrate and benefit from Ethereum’s robust decentralized security model. In essence, Layer 1 handles security, data availability and decentralization, while layer 2s handle scaling related to transactions.

For the most part, layer 1 blockchains have:

  • A network of nodes to secure and validate the network.
  • A network of block producers.
  • The main blockchain and transaction data.
  • An associated consensus mechanism.

Layer 2 differs by offering:

  • Lower fees: Layer 2s bundle multiple off-chain transactions into a single layer 1 transaction, which helps reduce the data load. They also retain security and decentralization by settling transactions on the mainnet.
  • More utility: Through the combined advantages of higher transactions per second and lower fees, layer 2 projects can focus on improving user experience and expanding the scope of applications.

As mentioned, most scalability issues relate to decentralization. Unlike traditional banks that have a closed and more efficient method of regulating payments, transactions and data management with blockchains must undergo a series of systematic steps, such as acceptance, verification and distribution on a network (with thousands of participants), all while maintaining security and transparency.

As such, networks like Ethereum need to include a layered and scalable design that can compete with (and eventually supersede) the more streamlined, yet restricted, channels of systems like Visa and Mastercard. Layer 1s and layer 2s are important because they work together towards the goal of making the network faster and more user friendly.

How does layer 2 work?

Layer 2 protocols provide a second framework where transactions can take place separately from layer 1. This means that a decent amount of the work that would be performed by the main chain can be moved to the second layer. Layer 2 applications then post the data of transactions to layer 1 where it’s secured in the blockchain ledger and history.

As with any other open or closed platforms, layer 2s also vary in accessibility. Some can be used by a range of applications, while others only cater to the whims of a specific project. That said, several of the key components that layer 2s leverage include rollups and sidechains.

Layer 2 rollups

A rollup is a specific layer 2 solution that executes hundreds of transactions outside of layer 1, rolls them up into a single piece of compressed data and then posts the data back to the mainnet for anyone to review and dispute if deemed suspicious. By doing so, rollups not only utilize the security of Ethereum but can also reduce gas fees by up to 10-100x.

Although rollups all help with deposits, withdrawals and verify proofs, there are subtle variations in the way rollups, such as Optimism and ZK rollups, post data back to layer 1.

Optimistic rollups

Optimistic rollups sit in parallel to the main Ethereum chain, run all the transactions and then post the data back to layer 1. Users are incentivized to transact on these layer 2s due to the competitively low fees. If a fraudulent transaction is suspected, it can be challenged and assessed through fraud proofs. In this scenario, the rollup will run the transaction’s computation using the available state data. Compared to ZK rollups (explained below) this means that the time to exit the rollup and withdraw funds back to layer 1 will be slightly longer. However, “inside” the rollup users will still receive fast transaction confirmation.

In general, Optimistic rollups are Ethereum Virtual Machine (EVM) and solidity compatible, which means that anything possible on layer 1 of Ethereum can be replicated on layer 2.

Several examples of Optimistic rollups include Arbitrum, Optimism and Boba.

ZK rollups

In contrast to Optimistic rollups, ZK rollups generate cryptographic proofs to validate the authenticity of transactions. These proofs (posted to layer 1) are called validity proofs or SNARK (succinct non-interactive argument of knowledge), or STARKs (scalable transparent argument of knowledge).

ZK rollups are more efficient because they maintain the state of all transfers on layer 2, which are updated solely through validity proofs. As ZK rollups don’t need the entire transaction data, it’s easier to validate blocks and transfer ether (ETH), the main token of the Ethereum blockchain, to layer 1. The validity proof (accepted by the ZK rollup contract) has already verified the authenticity of transactions. That said, they do not have full EVM support and are more intensive to run computations for applications with little on-chain activity.

Several examples of ZK rollups include dYdX, Loopring and zkSync.

What Happened at Devcon VI?

Sidechains

As seen through projects like XDai and Polygon PoS, a sidechain is an independent, EVM-compatible blockchain that runs parallel and interacts with the mainnet through bridges. As they use a separate consensus mechanism and are not secured by layer 1, they are not technically considered layer 2. However, the chain works the same as Ethereum because it models the EVM. That said, there’s greater levels of risks surrounding sidechain operators because users trust them with funds, rather than the Ethereum protocol (or a proper layer 2).

Validiums

Validiums, such as StarkWare, use validity proofs (similar to ZK rollups) but don’t store the data on layer 1. Multiple validity chains can run in parallel with one another and are each able to process approximately 10,000 transactions per second. However, as more specialized languages are required, there is limited support for general smart contracts.

Both sidechains and validiums are blockchains that run in parallel with Ethereum and interact with assets through bridges that connect to the mainnet. They do not gain security or data from Ethereum itself and therefore aren’t considered to be a proper layer 2 like Optimistic or ZK rollups. This is especially the case given the potential security and trust implications. However, both scale similarly to layer 2s by offering lower transaction fees and high throughput.

Why are there so many layer 2s?

Various layer 2 channels have been created to prevent any overdependence or the potential collapse of a single part of the network. However, as we’ve covered the main layer 2s (Optimistic rollups, ZK rollups and sidechains), the ecosystem is constantly shifting, and some applications end up abandoned, such as Plasma and State Channels.

Examples of common layer 2s

Overall, as layer 2s harmonize and work with the entire Ethereum ecosystem, the various options, which anyone can build, offer a greater, more balanced range of options for end users. What one layer 2 blockchain lacks can be balanced with advantages of another and vice versa. The following is a summary of the more commonly used layer 2s:

General layer 2s

A general layer 2 project mirrors the performance and functionality of Ethereum’s mainnet, with cheaper fees (gas). Some examples include:

Optimism

Although a new fraud-proof system is still being built, Optimism is an EVM-equivalent system that uses Optimistic rollups to make transactions fast, simple, and secure.

Arbitrum One

Arbitrum is another Optimistic rollup that mirrors the dynamics of Ethereum mainnet but with cheaper transaction fees.

Boba Network

Forked initially from Optimism, Boba is an Optimistic rollup that aims to reduce fees, improve transaction throughput and strengthen the capacity of smart contracts.

Application-specific layer 2s

In comparison, application-specific layer 2 networks are more specialized and focus on improving the performance of a niche market sector. Examples include:

Loopring

Loopring is a ZK rollup that aims to provide the same security as Ethereum’s mainnet with more scalability, such as throughput increased by 1000x and transaction costs reduced to 0.1% of layer 1.

zKSync

Used by platforms like Binance, zkSync is a ZK rollup from Matter Labs. It’s already live on the Ethereum mainnet and supports payments, token swaps and non-fungible token (NFT) minting.

Base Layer Neutrality

Abandoned layer 2s

Not every experiment or idea for a layer 2 works. Here are some examples of projects that aimed to solve a problem but failed to catch on.

Plasma

In January 2020, the Ethereum research organization Plasma Group announced it ceased operations in its current form and has donated the remaining funds to Gitcoin. The decision was made to focus on Optimistic rollups instead.

As seen through projects like Polygon, OMG Network and Gluon, plasma chains are separate blockchains tied to the Ethereum mainnet. They use fraud-proofs like Optimistic rollups to regulate disputes and manage security. As they are smaller copies of the Ethereum mainnet, they are also known as “child chains.” Merkel trees enable an endless stack of these chains that can work to help offload heavy data bandwidth from parent chains, including the mainnet. However, plasma isn’t useful for arbitrary contracts, only for transfers. And hence, along with issues like expensive costs and difficulties withdrawing funds from a plasma chain, it was abandoned in favor of Optimistic rollups.

State channels

State channels are pathways opened between two users that wish to communicate with each other via transactions. By utilizing multi-signature contracts (a type of contract that requires signatures of multiple parties to execute), they allow participants to transact freely off-chain and settle with the mainnet. This enables high transaction throughput and minimizes congestion and fees. Two main types of channels are state channels and payment channels. However, due to the rigidity in needing users to lock up funds, coupled with the lack of support for general-purpose smart contracts and DeFi applications in 2021, it was also mostly abandoned. According to Ethhub, teams that are still working on it include CelerX Connext Network. Raiden Network may also be near or in production.

Further layer 2 resources and considerations

Due to the nascency of these layer 2 platforms, there are still risks and varying degrees of faulty trust assumptions compared to transacting on the mainnet. It’s also worth noting that despite leveraging the security of layer 1, layer 2s are only truly safe if they have fraud proofs enabled, which (at the time of this writing) they do not.

Blockchain bridges (that people can use to transfer assets to layer 2) are also in the early stages of development and carry high degrees of risk. With all this in mind, thorough due diligence through resources like L2BEAT is recommended before engaging with any layer 2. L2BEAT is a comprehensive risk and analysis platform committed to educating users about projects that match their high standards and rigorous definitions of what it means to be a layer 2.

Tags: carouselcryptoexplainerlayer 2Layer 2 Explainer
Tweet

Related Posts

Photo of the White House illustrating crypto policy during the first 100 days of the Trump presidency.
Explainers

Trump, Crypto, and the First 100 Days 

May 17, 2025
Solana Staking Mechanics: A Step-by-Step Explanation
Explainers

Solana Staking Mechanics: A Step-by-Step Explanation

May 16, 2025
Load More
Next Post
How NFT Royalties Work – and Sometimes Don’t

How NFT Royalties Work - and Sometimes Don't

By Categories

  • CCI News
  • Comment Letters
  • Congressional Testimony
  • Crypto in Action
  • Data
  • Explainers
  • Letter
  • News Analysis
  • Pinned Event
  • Policy Briefs
  • Press Releases
  • Previous Events
  • Recent Coverage
  • Report
  • Uncategorized
  • Upcoming Events
  • About
  • Contact

© 2025 Crypto Council For Innovation.

No Result
View All Result
Subscribe
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Release
    • Recent Coverage
  • Analysis
    • All Analysis
    • Crypto in Action
    • Explainer
      • All Explainers
      • DeFi
      • NFT
      • DAO
      • Layer 1s
      • Layer 2s
      • Government
      • Infrastructure
    • News Analysis
  • Recent Coverage
  • Comment Letters
  • Policy Briefs
  • Reports
  • Security
  • Financial Literacy
  • Policy
  • EU Elections
  • In Action
  • Explainer
    • All Explainers
    • DeFi
    • NFT
    • DAO
    • Layer 1s
    • Layer 2s
    • Government
    • Infrastructure

© 2025 Crypto Council For Innovation.

Saskia Seidel

Policy Fellow

Saskia Seidel is the Policy Fellow at CCI, conducting legal and policy analysis on crypto regulations and legislative developments across key jurisdictions. She examines bills and regulatory proposals as well as case decisions, providing insights into the evolving landscape of digital assets policy.

Saskia holds a Master of Laws in International Business and Economic Law from Georgetown University Law Center. Originally from Germany, she earned a Bachelor's degree in Law and Economics and passed the First German State Exam in Law to qualify in the legal system.

Before joining CCI, Saskia worked at various law firms specializing in corporate and international tax law, where she developed a strong understanding of how businesses navigate legal and regulatory challenges in a cross-border context and advising on complex legal matters.

Krisina Antonio

Office Manager / Administrative Assistant

Krisina Antonio is the Executive Assistant to the CEO and DC Office Manager at CCI. Prior to joining CCI, Krisina has led executive offices in education and finance. She also worked within the pro-sports sales and marketing space for teams within the NFL, MLS, and Minor League Baseball

Emily Ekshian

Communications Specialist

Emily Ekshian is the Communications Lead at CCI, working closely with the communications team on branding, marketing and publicity efforts. She holds a Master of Science in Journalism from Columbia University’s Graduate School of Journalism, with concentrations in Finance, Technology, and Human Rights.

She also earned a Bachelor of Arts in Political Economy and Media Studies, with a Minor in Human Rights, from the University of California, Berkeley. Emily is passionate about the intersection of blockchain, digital assets, and global policy, focusing on how emerging technologies can support climate resilience, financial inclusion, and freedom of expression.

Through her work, she explores the transformative potential of Web3 in addressing global challenges and advancing positive social impact.

Renee Barton

Director, Impact Research

Renée leads Impact Research at CCI, documenting real world Web3 use cases to create shared understandings of how Web3 technologies are shaping the future for people and communities. She has ten years of experience examining the policy, economic, and community development implications of technology deployments.

She previously led primary ethnographic research at the Crypto Research and Design Lab (CRADL), where her research helped policymakers and business leaders understand why people are turning to crypto through evidenced-based insights.

Prior to her work at CRADL, Renée advised public, private, non-profit, and philanthropic clients at the intersection of technology, economic development and community-building.

Giles Swan

European Public Police Advisor

Giles has been a regulator, policymaker, the policy lead of a major digital asset service provider and the global policy director of a leading investment fund trade association. Giles advises trade associations, investment funds and asset managers, and web3 and crypto firms, on public policy, licensing, regulation and advocacy. During his time as a policymaker,

Giles was a national expert on the Investment Management Standing Committee of the European Securities and Markets Authority’s (ESMA), a national representative on the Standing Committee on Investment Management of the International Organization of Securities Commissions (IOSCO) and a member of the European Union’s Council of Ministers Financial Services Working Party.

Giles holds a BA in Banking and Finance, first class, from London Guildhall University, an MSc in Finance and Investment from CASS Business School and professional certificates in teaching and learning, and blockchain strategy.

Peter Herzog

Associate Director, State Government Affairs

Peter Herzog is a dedicated government affairs professional, specializing in issues impacting emerging financial technologies. As the Associate Director of State and Local Government Affairs at the Crypto Council for Innovation, Peter oversees initiatives to advance responsible regulation for the digital asset industry across state and local governments.

He has developed a pragmatic approach to building relationships with key decision makers and navigating nuanced policy issues. Before joining CCI, Peter served on the government relations team at the digital mortgage startup Better.com, where he led the organization’s state government relations strategy. He began his career at the Health and Medicine Counsel, a boutique healthcare lobbying firm on Capitol Hill,

where he was one of the youngest registered lobbyists in Washington, DC. His former clients include patient advocacy organizations, trade societies, and pharmaceutical companies. Peter holds a Bachelor’s Degree in Government and International Politics from George Mason University.

Ryan Eagan

Associate Director, Federal Affairs

With nearly 10 years of experience working for Senate Majority Leader Charles E. Schumer, Ryan advised the Leader on a wide array of banking policies and housing priorities. He worked with members in the House and Senate and the relevant Committees to advance legislative priorities.

This includes federal responses to COVID such as the American Rescue Plan,statutory changes to securities law, ESG rulemaking, cryptocurrency policy, and certain appropriations topics.

He graduated Williams College with a BA in both Political Science and History.

Rashan Colbert

Director, U.S. Policy

Rashan A. Colbert is the US Policy Director for the Crypto Council for Innovation. A seasoned policy leader with extensive experience in government, politics, and the crypto industry, he has served as a senior legislative advisor in the U.S. Senate, led policy efforts for a cutting-edge DeFi protocol, and has amassed a high-powered network across the public and private sectors. As Head of Policy at dYdX Trading, Rashan took the firm’s advocacy strategy and effort from zero to one.

His work involved educating policymakers, advising company leadership on policy risks, and ensuring DeFi’s importance to the future of the United States was well understood in Washington. Before transitioning to the private sector, he spent seven years in Senator Cory Booker’s office, where he led on technology, telecommunications, and commerce issues, with work focused on AI, big tech, social media regulation, and digital assets.

As Booker’s lead staffer on crypto policy for the Senate Agriculture Committee, he developed a deep understanding of fi nancial regulation and the legislative vehicles that will be used to shape it.

Patrick Kirby

Policy Counsel

Patrick is joining CCI as Policy Counsel, and brings considerable experience engaging with policymakers on emerging technology and financial services issues. Before joining CCI, he worked as an attorney in the US Policy & Government Relations group at the law firms Dentons and Squire Patton Boggs.

In those roles, he advised domestic and international clients on a variety of legal, policy, and regulatory issues related to technology, financial services, and digital assets. He assisted clients in developing and executing government relations strategies to further their legislative and regulatory interests before Congress and the Executive Branch.

In prior roles, he served as a legal intern at the Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC).

Yele Bademosi

Africa Advisor

Yele Bademosi is the co-creator of Onboard, a community-first onchain neobank designed for creators and builders. Onboard's goal is to expand the onchain economy, making it accessible to anyone, anywhere, and empowering people to live radically better lives.

Throughout his career, Yele has invested in close to 100 startups globally, primarily in the financial services and onchain sectors. His purpose extends beyond geographical borders, aiming to leverage innovation, capital, and policy to create sustainable economic opportunities worldwide.

Sean Lee

Senior APAC Advisor

Sean is an advisor and entrepreneur in Web3 and FinTech, and has been frequently quoted in Reuters, Forbes, Bloomberg, CoinDesk, among others. Sean was previously the CEO of the Algorand Foundation, an MIT incubated Layer-1 blockchain protocol that reached top-10 by network valuation during his tenure.

He is currently leading the efforts at VSFG, a global financial services platform and the first licensed virtual asset manager in Hong Kong, to develop the regulated HKD stablecoin for programmable payment and cross border use cases across Asia and beyond. Before entering into crypto and blockchain, Sean spent 10 years and held global leadership positions in cloud computing and open source software development companies.

Sean also advises crypto startups and engages in mentorship and advocacy programs including the MIT Entrepreneurship & FinTech Innovation Node, the Chinese University of Hong Kong Business School, and the Hong Kong FinTech Association.

Matt Homer

Senior Advisor

Matthew Homer is the Founder & General Partner of The Venture Dept. Previously, he was an investor at Nyca Partners, a $1B+ AUM fintech VC firm, where he remains involved as an Operating Partner in an advisory capacity.

Before venture investing, he was Executive Deputy Superintendent at the New York State Department of Financial Services (NYDFS), where he oversaw the licensing and supervision of major digital asset firms, including some of the largest exchanges, custodians, and stablecoin issuers in the U.S.

Earlier in his career, he worked as a federal regulator at the FDIC, focusing on policy development and new technologies. Matt has also held operating roles in fintech startups, starting at Quovo and continuing at Plaid after its acquisition.

Laura Navaratnam

UK Policy Lead

Laura is a digital assets policy expert, and serves as the UK Policy Lead for CCI. Laura is a fintech policy expert, specializing in digital assets. Laura has worked in financial services policy for over 15 years. She worked at the UK Financial Conduct Authority for 7 years where she ultimately served as the Head of the FCA’s Innovate function,

which included all aspects of cryptoasset policy and fintech (sandbox, firm support, international engagement and strategy). She is also a Director at bespoke fintech consultancy Gattaca Horizons, supporting a broad range of US and UK based fintech clients and leveraging her experience to provide policy, regulatory and strategy advice.

She is also a Non-Executive Director for Zero Hash UK, a leading crypto-as-a-service provider.

Cameron Jones

Director, Strategic Initiatives

Cameron has over 30 years of experience in technology, philanthropy, and civil society sectors. She worked in the nonprofit and private sectors in the U.S., Europe, and Asia.

She developed and scaled strategic social good programs for leading tech companies, including Amazon, Microsoft, Adobe, Intuit, and VMware, leading the development of program delivery and marketing strategies.

At CCI she leads strategic initiatives, manages new partnerships and current members.

Amanda Russo

Director, Communications

She led C-suite media relations and content for IHS Markit research divisions across Europe, the Middle East and Africa. As a strategic communications advisor to CEOs, heads of state, and policymakers, Amanda worked on the World Economic Forum’s Public Engagement leadership team as Head of Media Content. Amanda started her career as a terrorism and intelligence analyst.

Yaya J. Fanusie

Director, Policy, AML & Cyber Risk

He spent seven years as an economic and counterterrorism analyst in the CIA, briefing federal law enforcement, military personnel, White House-level policy makers and the President. After government service, he joined the think tank world and as Director of Analysis at the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance led research on sanctions evasion and terrorist financing threats.

In 2016 he began tracking the illicit use of crypto and wrote some of the first public analysis on a terrorist crypto crowdfunding campaign. He later published a major study on efforts by Russia, Iran, Venezuela, and China to build national blockchain infrastructure. Yaya is currently an Adjunct Senior Fellow at the Center for a New American Security (CNAS) and Visiting Fellow at Georgetown's Psaros Center for Financial Markets and Policy.

He is a frequent media commentator and has testified before Congress multiple times on illicit financing issues. He is considered a leading expert on China’s CBDC.

Annie Dizon

Chief Operating Officer

With more than 20 years of tech, operations, and marketing experience, Annie has held several senior executive positions at the global social impact nonprofit TechSoup; most recently serving as Vice President of Customer Experience. Prior to TechSoup, she led marketing communications programs for leading Fortune 500 companies in the financial and professional services sectors.

Ji Kim

President and Acting Chief Executive Officer

Ji Kim is the President and Acting Chief Executive Officer of the Crypto Council for Innovation - the premier global alliance for advancing the promise of this new technology through research, education and advocacy. Prior to this role, he served as the Chief Legal & Policy Officer for CCI. Before joining CCI, he was General Counsel and Head of Policy & Regulatory Affairs at Gemini, a global digital asset exchange and custodian.

In his role, Ji led the legal, policy, and regulatory affairs teams and also set and implemented Gemini’s global strategy for engaging with regulators, policymakers, and the government. Prior to that, he was a senior attorney at Kraken, another global digital asset exchange. In prior roles, he was an attorney at Willkie Farr & Gallagher LLP and served as Federal Judicial Law Clerk to the Honorable Robert D. Drain of the Southern District of New York, U.S. Bankruptcy Court.

In prior roles, he was an attorney at Willkie Farr & Gallagher LLP and served as Federal Judicial Law Clerk to the Honorable Robert D. Drain of the Southern District of New York, U.S. Bankruptcy Court.

Sheila Warren

Senior Global Policy Advisor

In 2023, Sheila was voted one of the most influential women in DC by the Washingtonian. Prior to the Crypto Council, she founded the World Economic Forum’s blockchain and digital assets team and was a member of the Executive Leadership Team. She oversaw tech policy strategy across 14 countries and regularly briefed ministers, CEOs of the Fortune 100 and Heads of State.

She spent significant time as a lawyer and executive in the nonprofit sector helping companies work with emerging technology to solve problems and increase efficiency. She was on the leadership team at TechSoup and built NGOsource, an online service that helps US foundations reduce costs on cross-border grants.

Sheila began her career as a Wall Street attorney at Cravath, Swaine & Moore LLP after earning her J.D. at Harvard Law School. She graduated magna cum laude from Harvard College with a degree in Economics. She is the co-host of Money Reimagined, a CoinDesk podcast.

Senator Cory Gardner

Senior Political Advisor

Senator Gardner honorably represented the state of Colorado from 2015 to 2021 after two terms in the United States House of Representatives. During his tenure, Cory was consistently recognized as one of the most bi-partisan members of the Senate, sponsoring and passing milestone legislation like the Great American Outdoors Act,

America COMPETES Act, the Asia Reassurance Initiative Act and the 988 Suicide Prevention Hotline. He served on the Senate Committee on Foreign Relations, Senate Committee on Energy and Natural Resources, and the Senate Committee on Commerce, Science, and Transportation.

Mark Foster

EU Policy Lead

Mark has over 20 years of experience advising public and private sector entities on EU policy and politics. He started his career in Brussels as a European Parliamentary Assistant from 2003 to 2007. He later developed expertise in EU financial services as a Senior Official in the UK Permanent Representation.

In 2011, he moved to Kreab, a global public affairs and consultancy firm, where he became Partner in the financial services practice. He has held elected roles in trade associations including vice-chair at the financial services committee of AmCham EU and he retains a role as vice-chair for the EU/UK task force at the British Chamber of Commerce to the EU.

Mark was VP of Government Relations at Barclays from 2019-2021 before establishing his own business – Strategic Advisory Management - at the start of 2022.

Alison Mangiero

Senior Director, Staking Coalition & Industry Affairs

Alison Mangiero is the Executive Director of Proof of Stake Alliance (POSA), a CCI project that advocates for clear and forward-thinking public policies that foster innovation in the rapidly growing, sustainable, multi-billion dollar staking industry.

Alison began working in the industry in 2018, when she founded the Tocqueville Group (“TQ”), an entity that created open-source software and other public goods for Tezos, one of the first proof-of-stake blockchains to launch. Before founding TQ, she spent a decade in public policy and academia, and has broad experience fundraising and growing membership associations.

A passionate advocate of the liberal arts, Alison also teaches courses on leadership at the College of the Holy Cross and is on the Executive Board of Advisors for the University of Richmond's Jepson School of Leadership Studies.An alum of the University of Richmond and Boston College, Alison lives in the New York City suburbs with her husband and two young daughters.