Connor Howe: Building the Onchain Execution Engine with Enso Network

Connor Howe, CEO and founder of Enso Network, has been a significant figure in the crypto space for nearly a decade, starting with Bitcoin in 2013 and later developing smart contracts and applications. Enso has evolved into a DeFi Super App, simplifying the integration of multiple DeFi protocols and facilitating nearly $18 billion in transactions across over 125 projects. The platform enhances user experience by abstracting complex processes, serving as middleware that streamlines interactions with on-chain applications.

The current blockchain landscape poses challenges for developers, with over 1,000 blockchains complicating the development process. Enso addresses these issues by providing a unified engine that supports both single-chain and cross-chain functionalities, allowing developers to avoid the pitfalls of isolated chains. With over 2,250 developers using Enso's API daily, the platform plays a crucial role in the Web 3 ecosystem, which still lags behind Web 2 in developer adoption.

Enso focuses on infrastructure rather than user interface, building products based on user needs, such as the rapid development of "One Stable," which simplifies complex DeFi transactions. The platform has executed over $3.1 billion in diverse DeFi combinations, showcasing its capability to manage intricate transactions and automate actions based on market conditions. Enso supports various tools and wallets, emphasizing automation in DeFi and adaptability to new trends, including Real-World Assets (RWAs).

Mainstream adoption of crypto remains a challenge, with security concerns surrounding smart contracts hindering user interaction. Enso Network has operated for over four years without exploits, advocating for a model where developers do not need to write smart contracts, thus reducing security risks. The platform's simulation process enhances security and efficiency, and the introduction of the open-sourced simulation tool, Tempor, has gained traction in the industry.

Current trends indicate a focus on DeFi interactions among developers, with notable projects in multi-chain bridging and automation tools. Enso's network structure involves action providers, graffers, and validators, ensuring functionality and scalability. The network is currently permissioned, with plans to distribute transaction fees among stakeholders as it transitions to a more permissionless state.

The conversation highlights the importance of separating and consolidating roles within the network to improve scalability and accessibility. Enso allows users to combine individual components rather than relying on predefined strategies, setting it apart from traditional intent networks. The economics of the Enso network focus on action providers and graphers, with a clear need for profitability and incentives for network participants.

Future plans include directing fees to ecosystem participants from the outset, utilizing an auction mechanism for users to access these fees via Enso tokens. The Enso token generation event (TGE) will serve as a security mechanism, allowing users to secure the network and participate in governance. The introduction of the "Enso Drop" will enable users to claim airdrops from various projects by delegating staking.

Connor Howe emphasizes the need to transition from a focus on layer ones (L1) to a more application-driven approach in the crypto landscape. He argues that the current emphasis on layer ones stems from a lack of sufficient applications that operate independently of the underlying chains. To shift this trend, he advocates for the development of more useful products, highlighting that the existing applications in crypto are inadequate given the number of blockchains available.

He introduces the "fat engine thesis," suggesting that tools like Enso, which connect various applications, could become powerful if they support a wide range of apps. Connor stresses the importance of real-world applications and genuine user engagement, urging for tangible products to emerge in the industry to avoid recycling ineffective narratives. His extensive experience in on-chain development reinforces his call for a focus on creating meaningful products in the crypto space.