A glimpse of 5 keynote speeches and 2 roundtable discussions at the Hong Kong Web3 Carnival

Jason Li, Marketing and Account Strategy Manager, HashKey Group:

Ladies , Gentlemen, distinguished guests, welcome to the 2023 Hong Kong Web3 Carnival, this summit is co-sponsored by HashKey Group and Wanxiang Blockchain Lab, I am Jason, I am in charge of HashKey Group The work of marketing and brand promotion, HashQuark, the organizer of today's branch event, the theme is Proof Of Stake and node services.

This morning we will have 5 keynote speeches and 2 roundtable discussions, a total of 15 top industry experts will discuss the Proof of Stake mechanism in depth and explore its Use cases, benefits and potential challenges in the wider crypto ecosystem, we will also look at node validator roles, discussing their impact and critical role in shaping the future of decentralized finance.

Before the show begins, I will quickly introduce HashQuark, the host of today's event, HashQuark is a leading Web3 infrastructure provider, which was founded in 2018 In 2019, providing a full set of infrastructure services, including node verification, decentralized digital identity identifier (DID) reward reporting, etc., HashQuark operates more than 18,000 nodes and provides enterprise-level node verification services for more than 40 mainstream public chains. HashQuark is also the digital asset infrastructure service provider of the HashKey Group. To learn more about HashQuark, you can visit the HashKey Group booth after the event to communicate with our colleagues and win some limited edition HashQuark gifts.

This morning's program is very exciting, let us welcome the first guest, Neo, the technical director of KlatynFoundation, will bring us the public Speech at the base level, applause please.

Keynote Speech: "The Public Base Layer of the World on the Future Chain"

Neo YIU, Director of Klaytn Foundation Technical Promotion:Hello everyone, I am Neo from Klaytn Foundation, raise your hands, you have heard our Raise your hand? Everyone should have heard of our company. Today, I would like to tell you about the future direction of our company Klaytn Foundation. How can we build a public base layer for the future on-chain world?

Because a person raised his hand just now and has never heard of our company, let me briefly introduce to you, the earliest blockchain project Klaytn did was One of the largest blockchains in the company, we are mainly Layer 1 in the market. We launched the mainnet cypress in 2019. In fact, it was the first to do it in 2018. It was a testnet at that time, because today we are discussing Proof of Stake , we are also a member of a committee of Proof of Stake, including many companies like here (pictured). They are members of the committee, and we are also one of the members. We are actually based on IBFT, and we also have A very special model, I will introduce this model to you in detail later, three things to know about our Klaytn, one second block time, more than 4000 TPS, and more than 4000 transactions per second, And our tx fee is much lower than that of Ethereum. Of course, Ethereum has always been our role model, and we follow them. We are also on the EVM public chain and our partners.

What are the products and services of Klaytn? I just mentioned that the speed is very fast and very reliable. We have a transaction delay of 2.1 seconds. Everyone needs such stability Sexually, because your network, you want to be stable, so the less the delay, the better. In addition, we can provide a lot of flexibility and customization, and the entire management work is also very convenient and simple. The commission fee is also very flexible, and this cost is predictable, because you can predict how much you will need to pay in the future on our Klaytn.

We have been building our own ecology. You can see that there are wallets on this page, as well as DEFI, NFT, and Klaytn’s partners, and we It is one of the members of the entire regulated council. This is the ecology of Klaytn. The daily account can reach 141,173, which is the daily amount, and it is almost 425,105 per month, so seeing the traffic in the entire system ecology is very huge . So how does Klaytn create such an ecology through technology? From the first day, we all learned from Ethereum, so we can see that there are some typical low-level blockchains in our market. Our Layer1, how can we do better on this basis? ? We have considered different levels, including finality, relatively high performance, predictable cost, and user-friendliness, so many of them are related to user experience, and we have done better in user experience.

Therefore, we have created our advantages, performance and performance, we are 4000 TPS, the transaction delay is also very short, and our minting will not exceed 2.1 seconds , so this speed is one of the great advantages of our Klaytn. There are also some features, which can be seen from the technical level. First of all, we have a commission fee model. Sometimes there will be some accounts from Ethereum Extraction, my colleagues and I created a multi-account model three years ago, and we have now occupied a dominant position in the Korean market, and we plan to expand our business globally. We actively participate in various blockchain There are various types. Only one person didn’t know about our company just now, so it seems that our overseas business expansion work is going relatively smoothly, so we hope that on this platform, there is also tokenization of real world assets. We hope that Working with more partners, you can see these brands of Layer 1 on the slides. In fact, there is a difficulty here. If you are scalable, the degree of centralization will not be very high, so from the first Since the beginning of the day, we have paid great attention to security and scalability. In terms of security, we have a multi-account model, which is directly built on the protocol layer, because our infrastructure is service-centric. Of course, we also have A main network (test network), there are different nodes in the main network, the nodes of these committees can vote, and then ensure the best security and scalability, everyone can run their own terminal These are all part of our ecology, because the TPS of 4000 is mainly on the main network. In addition, we also have a side chain, which is now made on our platform. This is what we do service chain.

Because our speed is very fast, TPS is very fast, and the delay is also very short, we are 2.1 seconds, it depends on how you measure it, if If you measure this delay, you can see that our delay time is very short. Here we also list the delay rates of some other chains, so you can see that we are very fast and very reliable. In addition, the network Is it stable enough? Is the transaction delay done on a stable network, because we are 150k, 150k account per day, even under such traffic, look at this is the transaction delay shown, for Klaytn is very very stable .

So it can fully show that our Klaytn transaction network is very stable, because the transaction delay is very low and the stability is very good, these are our advantages Therefore, it is very friendly to our network use, and we are sustainable, not only energy-saving, but also very stable, without using a lot of computing energy and resources. We build such a relatively large community, and such an ecology requires a lot of partners. We hope to take one more step to achieve the balance of Ethereum, which means that everyone can become an Ethereum developer. Simple In other words, we support the development under the name of Klaytn, that is, developers have APIs under our name. Simply put, you can use any existing layer of Ethereum, such as METAMASK, etc. for your development, and we also use the same smart contract on Klaytn. This is the focus of attention, and this is why we can do it so successfully, including the development on Ethereum, and we also support some previous contracts, so this is what we have been working hard to do.

Take a look at this page (PPT) again, we have many partners to build ecosystems, and they have different ecosystems are built on our platform On top of that, there are wallets, open source tools, SDKs, some explorers, and Oracle, etc. They build Oracle solutions on our Klaytn platform, etc. We also have different bridges and so on. Tools, if you are a developer, you can use these tools on our platform and use our open source tools to make your development work easier. In this way, you can also develop your own things on the platform and build your own ecology system, this is also because we already have a network, which brings about network effects.

This is also a very good time, and this timing is also very good. In 2023, we will further strengthen the extensive and large-scale promotion. In fact, we are more Value sustainability, verifiability, and collectiveness, which is mainly based on the collectiveness of the community.

On the base layer, we continue to promote upward, large-scale application, large-scale promotion, from three aspects, specifically, each There are specific concerns in each aspect. If you have been paying attention to our company information in the market, you know that we have Token and pass, and we have also taken a series of actions, including KGB6. This is mainly because we want to launch a The new model, and Tokenization will be further opened, making the entire system and platform more sustainable.

How can we make this platform stronger? How do we make Klaytn more license-free in our opinion? This is what can help us achieve sustainability, through scalability, through verifiability. If you look at the website, you can see that we have made a lot of progress in different technical fields in the past. Today I don’t have time to introduce them to you one by one. All of this is about our efficiency and user friendliness. , user experience, etc. We hope to further improve verifiability in the future. Compared with the same time last year, we had a public test before. You are a stakeholder who comes to Klaytn. If you have any proposals, go to our ecosystem We will have the opportunity to take a look at the proposals. We had a forum before, but now we call it "Klaytn Square", which is on the platform. Any stakeholder can enter the square to participate in our ecosystem activities through the token.

There are also many developers participating in this at the community level, how to do it? Because we added a usage package for developers, we have Oracle, we have SDKs and everything, including smart contract libraries and so on, and there are some examples in there, all of which are open source, but on our website Just search and you can see that there is also a QR code here, you can scan it to see it.

Basically everything is open source, if you have any use case, you can design your own smart contract on a blank sheet of paper, and use ChatGPT is a bit faster, we see a lot of solutions, at present you want to save time, you want to have all the tools you need to face a developer on Klaytn, we also invite everyone to come to our platform Build your own ecosystem on it.

We have open source tools here for everyone to use. You can scan the QR code. Any developer wants to know and use everything. We also have There are more opportunities for the two books to be provided to the developer community. At the same time, we still have a lot of things on it. When the time comes, we will also invite all developers to participate in the Klaytn platform. My introduction That's all, if you want to know more about Klaytn, you can scan the QR code to the website to learn more about our ecosystem.

We also hope to build the future of blockchain together through Klaytn, thank you!

Jason Li:Thank you Neo for the wonderful sharing, your speech talked about the development of the blockchain The importance of building a strong and secure infrastructure in the future, now we will discuss in depth the economics and regulation behind the topic of Staking in today's first roundtable forum.

Staking economy roundtable discussion

Now let's welcome the panelists:

Zou Chuanwei, Chief Economist of Wanxiang Blockchain and HashKey Group Dr.

EBunker is the founder Allen

Frax Finance is China President Kevin

Klaytn Foundation Commercial Director Uno , and Jack of the host Blockbeats, applause please!

Jack: Thank you for participating in today’s sub-venue. I am very happy to chat with the guests here Let’s talk about the topic of staking economy, because the Shanghai upgrade has just been completed, this topic is also very appropriate, today we will directly enter the topic, first of all, please give a brief self-introduction, I don’t need it, I’m from Blockbeats Jack.

Zou Chuanwei:Thank you, host, my name is Zou Chuanwei, from Wanxiang Blockchain and HashKey .

Zero: Hello everyone, I am Zero

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Allen:I am Allen, the founder of EBunker, and the founder of a research institution, thank you!

Kevin:I am Kevin, from Frax Finance, now the second largest decentralized stablecoin And the third largest decentralized LSD agreement, thank you for entering

Uno: Hello everyone, this is Head of Business, Klatyn Foundation.

Jack:Thank you, let's go straight to the first topic, the easiest one On the topic, after the upgrade of Ethereum Shanghai is completed, whether the amount of pledged Ethereum will increase or decrease in the short term, you can also answer this in turn.

Zou Chuanwei:The current pledge rate is about 15%, I think there will be a short-term The reason for the small-scale decline is that the liquidity has been locked for such a long time since the end of 2020, and a lot of income has also been accumulated. This is like the demand for some people to withdraw cash after the liquidity is opened, so it will decline in the short term. But the decline will not be very large, because the first point is that in the past two years or so, a large part of the liquidity needs have been solved through the way of liquidity Token on centralized trading platforms.

The second point is that Ethereum has done a lot of education in the past when it was launched, and also told everyone that it may lose liquidity in the process of future upgrades. So those who stay on it now must have great faith in Ethereum.

The third point is that some people may make further mortgages after withdrawing cash. These three factors will ease the amount of early Staking. In the long run There will be a big improvement at the current level, because this is the pass of the upgrade process from Ethereum to POS, and the risks have been gradually eliminated. Everyone has very strong information about it, especially the flow of Staking Sex itself is not a big problem. In the long run, if compared with other POS-type chains, it is expected to reach more than 40%.

Jack: Still very optimistic.

Zero: I am not in a hurry to answer this question, the black swan events that hinder growth are already decreasing Well, the money in the entire blockchain is only Bitcoin and Ethereum. In addition to Ethereum’s value-capturing public chain, in fact, the United States has always had a very vague definition of Ethereum. On the one hand, they say that Ethereum may be a commodity or it may be It is securities, but I believe that when more of our old money enters the market, they will still choose Ethereum and Bit. Now that Ethereum and POW have been transferred to POS for 2-3 years, in fact, everyone will be attracted by this A relatively acceptable status quo, I think they still only have Bitcoin and Ethereum as investment targets. Now Ethereum has huge liquidity support, which is enough for them to exit perfectly. Therefore, large institutions and second For some users on the 2C end of the level, they will still prefer Ethereum’s pledge. From the perspective of the pledge track, it is a relatively long-term track. For us, the cornerstone of Defi in the past is Ethereum and stable coins. Mainly, after the upgrade, you can store and withdraw at any time, LST, and new projects for staking LST have also appeared, so I think the staking track is very hot, including some innovative projects have begun to appear.

Jack: Yes, yes, this is a point of view that I personally agree with, and the next step is Please Allen briefly introduce, because you also make products for pledging the track, what do you think will happen after Shanghai is upgraded?

Allen:First of all, I agree with what Dr. Zou Chuanwei said, there will be a short-term decline, but in the long-term Looking at it is positive, it will continue to grow. Let's talk about it from two aspects, the first data. I took a look when I woke up this morning, because the Shanghai upgrade was successful at 6:20, and when I woke up at 8:30 in the morning, more than 300,000 Ethereum had already entered the withdrawal process At EBunker, we are researching related technologies of staking, as well as data on the chain. We have daily and weekly reports on staking and we have been paying attention to staking data on Ethereum. I can share with you, in fact, before February of this year, the growth rate of the entire Staking was relatively flat, but after February, due to the upcoming Shanghai upgrade, more confidence has been given to those Stakers, and you will obviously find that The number and addresses of staking are increasing, and they are changing more every week than last week. This is the first data.

The second data is based on staking. When the scale of staking becomes larger, the upper limit of supporting your staking and withdrawal every day will also increase. Now When the scale is 18 million, you can enter and exit every day. When the next one is close to 20 million, the daily entry and exit will become more. I personally think that after the Shanghai upgrade, more people choose to pledge, but in the short term we have internally analyzed that there are about 1 million The chips around ether will be entered at the end of 2020, and there is a relatively low cost, so these may have a potential challenge and a demand for withdrawal, but because of the existence of such a project as LSD, there are 30 %-40% has been thrown away through LST. The reasonable short-term withdrawal demand is about 600,000 to 700,000 Ethereum. Those who want to withdraw in these two days will withdraw it. Now it is the maximum withdrawal of 50,000 on the day. It may take about 1 week to digest.

There is also the interest part. The biggest impact is the interest withdrawal, so the short-term withdrawal is made of the interest withdrawal as the main withdrawal asset. I think the principal withdrawal of 50,000 ethers is relatively controllable, and many people want to have a risk taking operation for interest withdrawal, because the interest is placed in the node address, and no additional interest is generated. With 32 ethers as nodes to re-stake, this part of the interest withdrawal will also partly return to the main chain of the pledge, so in general it is relatively optimistic.

From the perspective of the industry, my personal understanding is more optimistic, because I am an ether maximizer. People who joined Staking, what kind of people do you think these people are? The person who can join Staking in 2021, I personally think he must have great faith in the industry and Ethereum, otherwise he will not take the risk of huge principal loss to participate in Staking, because in this case If something goes wrong, the principal will be trapped, so these people are the standard diamond players we usually call, so if he has faith in Ethereum, they will not be so eager to leave after the Shanghai upgrade is successful.

Just now Zero mentioned a concept, order some money, ether is the standard order some money, to a concept, only Ethereum, LSD is a bond product, It allows you to have a risk-free return of about 5% to 6% on the currency standard. This is the most stable in our industry now, and the best alpha beyond the premium itself, because there is no risk, and there will be more risk-free futures. Many people hope to have it. You can see that the pledge volume is constantly changing. Last month it was more than 5 million, and now it is close to 6 million. In the future, more people will enjoy the alpha benefits brought by staking. This is from my personal From the perspective of our understanding, many big customers are paying attention to the Shanghai upgrade. They are institutional customers and must ensure that their assets are absolutely safe before they dare to participate in staking. So once the Shanghai upgrade is successful, They will be staking one after another, and in the next month, they will see explosive staking growth.

Jack:Okay, this is a more radical point of view, and it will take a few weeks to digest In spite of the selling pressure of Ethereum, I just mentioned that new diamond players may gradually enter the ecosystem of Ethereum Staking through liquidity staking, so Kevin would like to introduce it.

Kevin:Okay, the views shared by the guests just now coincide with mine , I will add a few points of my own opinion, the general direction is still the same, I think there will be a certain selling pressure in the short term, but it may not be long in the long run, and the pledge amount will increase soon, because the pledge amount of ether is now It’s about 15%, and the exit is also an orderly exit. Just now Allen and Zero also talked about order some money. Many mainstream AMM liquidity pools have an exit mechanism, and they can exit long before Shanghai upgrades, so my personal opinion is also relatively optimistic. After this free withdrawal, many capitals may have more confidence. I am Here, my big fund has such a deflationary super-good currency concept, which is a very good income machine. We can see that the current mainstream LSD protocol can provide about 5%, and the dual currency design can provide up to 6% %, even when the transaction volume is large, MEV can provide an APL of 10% or so when the revenue of MEV explodes, so I am still relatively optimistic, thank you.

Jack: Both are more optimistic, we asked Klaytn's Uno to share too.

Uno:I think the price of Ethereum is short-term, because we know that last September At that time, according to the market data at that time, the price of investors investing in Ethereum may have exceeded 10%-20%, so I think most investors will wait, and I guess more and more institutional investors may exceed Retail investors, because Ethereum’s Staking is a huge market, it can attract these institutional investors. Institutional investors pay more attention to long-term returns, so they will have more confidence in Staking. In addition, we need to consider some events Of course, there are some negative events. For example, last year, everyone should remember that citrus (sound) went bankrupt. At that time, there were many lenders, but they would not sell their ether.

In addition, the agreement we just mentioned will retreat. In the short term, this momentum should be very strong.

Jack:Everyone’s point of view is relatively optimistic. Just now Kevin mentioned that after the upgrade in Shanghai The Ethereum LSD track, because everyone found that the LSD track was very hot before the Shanghai upgrade. Today we also have Kevin working in the Chinese community at Frax. What products do you make in Frax? What do you think is the trend of composability between Ethereum Frax products and Defi after the Shanghai upgrade?

Kevin: As you all know, Frax is a new player in the Defi field. We launched at the end of last year , it only took 4-5 months to become the current TOP3 decentralized LSD protocol. We can see that Frax adopts a double design with two tokens, one is stable and anchored with Ethereum One is to earn income from the execution layer and the consensus layer, because Frax, if anyone who knows about it before knows, Frax has a very large influence in the crop ecology, and can provide liquid APL for those who hold stable coins in the crop pool , take it deep into the part of liquidity, which has led to the highest market in APL. It has been 4-5 months in a row, and it has always maintained the lead. At the highest point, it was nearly twice as fast as other NSDs. Yes, this is his design.

The second is Frax. He thinks that the LSD track is not a zero-sum game. He provides one for other LSD protocols. As long as you use other LPs, Frax To give some incentives, he hopes to build his own network effect, so I think Frax is more visionary in this field, and he is working with the players on the track to make the ecology of Ethereum more prosperous.

The third point is that Frax has also been introduced into the DeFi field to provide liquidity in the field of lending. We can see that now you can take loans and increase leverage , or can do things, so you can find that your income is not only the base income of Ether, but also the income of APR, so this is a very interesting example of the combination of the two, and it is already happening, thank you!

Jack:Does Dr. Zou Chuanwei have any information to add in this regard? What is the trend of development?

Zou Chuanwei: I think it must be the track we continue to be optimistic about, because the problem to be solved is very The basic question is, on the one hand, I want to pursue a relatively good and stable alpha income, but on the other hand, I also need liquidity. How can I balance these two points at the same time? But from the perspective of the public chain itself, LSD only allows staking users to exchange hands with each other, and the impact of the pledge rate is neutral. From this perspective, it is very reasonable, and we at HashKey are also very optimistic about this direction.

Jack:Thank you, the LSD just mentioned is the direction of centralization, we also know that Centralized trading platforms They are all trying to centralize solutions, but here is a background that I can tell you about, we all know that on February 9th, they were investigated by the SEC, because cricken (sound) reported to the United States Investors provided unregistered securities services. One day later, he cricken (sound) shut down his Staking service and paid $30 million to the SEC. I remember that the CEO of Coinbase also came out and said that he might object to such a thing , I also want to ask, do you think there is room for centralized services to develop after the service is shut down?

Zero CHU: I am sure the answer is yes, in fact, everyone has always thought that the contract is the main , after more than a year of hard work, our current spot volume has increased, so the asset management department is also a newly established department. Ding Yuan and I are old colleagues. We have been working on the business line of Huobi. I discovered this news in time. My understanding is that first of all, the SEC cannot shut down every computer pledged by Ethereum. They can only start with centralized institutions. Then I think that since coinbase has worked so hard to embrace supervision, including now it is also a Relatively stable development, but there are certain loopholes like ccon (sound), which may be that the pledge service has not passed some permission and permission. In fact, I think the encryption community can start with decentralization, enhance the decentralization of nodes, and DAO Decentralized governance, in fact, I think supervision is not half an hour for the industry. Compared with our centralized trading platform, it is a very big and good direction. B-ged (sound) we have also obtained licenses in Europe, America and North America , We are also actively registering other licenses in North America and Turkey, etc., and we also need to embrace supervision.

Jack: Yes, embracing supervision is a very good entry, but this matter is difficult for many attempts Will it be an opportunity for the decentralized pledge service team? I would like to ask Allen, you just said that the products you make are in the direction of decentralization.

Allen: Yes, I think it must be an opportunity for us, everyone wants I know that Staking is divided into 4 types. The most original solo sticker is that you run a node at home, and everyone runs a node at home. The second way is vas. In fact, this is what EBunker does. We don’t touch users’ assets. , you keep your ether yourself. What our professional operators provide is just technical services, which are a bit similar to traditional SaaS services. The third point is that the Pu (sound) model mainly uses a decentralized method to ensure user funds It is safe, but it is a pool mode, and the user needs to put his ether in this pool, just to ensure safety. The fourth model is a centralized trading platform. It can be seen that the clear trend is that the supervision of this area is becoming more and more stringent. The SEC may start to deal with DeFI, so I think that among the four models, Pu will be the first to usher in supervision. As a vas supervision, it will definitely not run away. I don't touch assets. In a sense, I am far away from securities, because I don't touch users' assets. I am a technology company, a technology company, and a software service company, so I think it may be possible in a short time. The fire of supervision can’t burn Vas, and in the long run, it will never burn solo stickers, because you can’t control this thing, just like everyone has a Bitcoin address, and supervision can’t find it, that’s too decentralized Yes, the trend is definitely ushering in strong supervision, PU and DEFI ushering in weak supervision, the solo sticker is the most original, and the direction of our EBunker research is two points, so whether it is the vas model that has been deeply cultivated, and the recent launch of ether Fang Fang’s pledge node hardware service, this is to help more people to be able to do solo sticker services, everyone, our vision is to allow 10 million households around the world to use solo stickers to participate in the blockchain, and this product has also recently It will be launched at the end of April.

Jack: Yes, yes, there is a development direction with a sense of supervision, as Allen mentioned just now The SEC not only imposed some restrictions on the centralized staking service, but in mid-March, the chairman of the SEC also mentioned that all proof-of-stake tokens belong to this category. They are securities and need to be registered, and users can earn income through pledges. , I am more curious about this question and would like to ask Dr. Zou Chuanwei, the POS chain is still a public product, will it be affected by some regulations because of the SEC's interpretation of it in the future?

Zou Chuanwei: This question has to be looked at this way. First of all, the chairman of the SEC said on many occasions POS belongs to securities in the future, but no corresponding legal action has been filed. For example, the Ethereum Foundation was listed as a defendant, which did not happen.

The second one is that the SEC case lasted a very long time. It is said that there may be a statement recently, but from a comparison point of view, the ether The degree of decentralization of Fangfang is obviously much higher.

The third point is that there are a series of standards from the SEC, but if we look at some characteristics of the securities themselves, for example, China says that stocks are subject to the same share Yes, because in a company, there will be a lot of securities, whether it is stocks or bonds. If they are on the same priority, there is a very important requirement that they have the same right to income management, but you can see To the token issued by POS, he has no income. From this perspective, I don't think that the token issued by POS has its own securities attributes.

Finally, you can see that the Staking mechanism itself is different from real securities activities, because for real securities activities, I want to set up a The company raises money from the outside world, whether it is stocks or bonds, and establishes a production line. As long as the income from selling products exceeds my cost, it will generate profits, and this profit will become shareholders’ income. There is no such process, because in a decentralized environment, low energy consumption is required, and no special equipment is required for all token holds to participate in the consensus. In the process of participating in the consensus, liquidity is sacrificed and blocks must be verified. There is also the possibility of being punished. In this distributed environment, because I want to bring everyone together, I have adopted this method of issuing new tokens to reward him, and we will raise funds in reality, go to production, and use income There is a big difference in giving the profit minus the cost to shareholders, so Allen also mentioned these issues recently, we belong to vas, and we have communicated with the SEC on these points, and the mechanism is different from the company's profit-generating mechanism It should be different, because from this point of view, the benefits of staking are actually compensation for sacrificing liquidity for our token hold, verifying blocks, and bearing various penalties, especially in decentralization. The problems here are quite worthwhile discussed.

Jack:Yes, this is also a game process, today’s Uno guest is from Klaytn Come on, we can also hear what he thinks about this matter? The situation you will face in the future regarding regulatory compliance is related to POS-related regulatory aspects.

Uno: POS has many problems to be solved, but the main problem is the POS protocol It is about security issues, especially the financial return of many POS agreements, security, etc. When these issues can be resolved, this is the most concerned and critical issue. In terms of finance, it involves distribution issues, and DeFi There are many POS protocols that accept Ethereum, but some of the most fundamental problems have not been resolved. There are user needs and they need to have their own Token, but they cannot. In terms of Klaytn, even if it is The national government is also facing such challenges. I think the big currency economics is a big problem. In the next few years, if the government has to solve a series of problems, including the issue of tokens and POS, I think The problem of the POS protocol must also be solved, including Ethereum, including different protocols, and we also increase these Tokens.

Jack: The future should be separated from the link of gaining benefits. Make some efforts on this. Our time today is almost up. Finally, I will ask one more question. Everyone will answer in one sentence. Do you think staking will become a super potential in the future?

Zou Chuanwei: Just now a guest mentioned the concept of order some money, the risk-free interest rate related to Staking , which is analogous to the market for the yield of government bonds and the yield of central bank bills.

Jack: So yes. Please ZERO to share.

Zero: I think SD and ST are very potential tracks, LSD is now pledged The asset is actually a new basic asset. In addition, it has a great potential for base assets. The combination of ST assets and LSD will lead to the emergence of new DeFi. I am very optimistic about the entire Staking industry. And every round of accumulation will have a huge theme that will promote the development of this industry, so I think Staking is a particularly good development direction and a new wave trend that we can see now and in the future.

Jack:Ok thank you.

Allen:Yes, let me add that the first 10 years of the industry belong to POW, and the next 10 years of the industry The year belongs to POS.

Kevin:I think Staking is the biggest momentum this year, and I wanted to say that there is no one. But there is still another important thing to gain momentum, which is stable currency, because this is a visible demand, so I think Staking + stable currency, our so-called financial Lego, will bring staking hundreds of billions of dollars, which may generate several Hundreds of billions of market.

Uno: I think it should not be taken for granted.

Jack:Thank you all, and thank you for coming to our site. This round table discussion will be It's over here, thank you all guests, goodbye!

Jason:Thanks a lot to Dr. Zou Chuanwei, Allen, Kevin, Uno and Jack for the Staking Economist Discussions with regulation, when it comes to Staking, must mention validators. We are very happy to invite Zaki, co-founder of Sommelier, the next keynote speaker, to discuss the economics of verification in depth.

Keynote Speech: "Beyond Consensus, The New Frontier of Validator Economics"

Zaki, Co-Founder of Sommelier: Hello everyone, I am Zaki, I started in 2014, in 2018, 2019 in the cosmos community, I I personally led several projects. Many people may not be so familiar with Sommelier. Today we are talking about validator economics. 2014 and 2015 are the topics we are very concerned about this time. We have seen many big changes in the market , we started working before Cosmos in 2018. At that time, there were many standard practices. We launched many first-level projects. You launched different standards and tests for your chain, and after different tests, you have Authorization proves that the verifier becomes a kind of service at this time. There are many sayings that you should not take this road, because this road is very different from now, and there are many networks. It is difficult to say that the launch of the currency is profitable. For them, they are still in operation, but most of the operators have relatively limited chains, and there are relatively few on Cosmos, and anything they do on it needs subsidies. So this is a very illiquid approach, and now we see something that is entering a level 2 of L2, an upward flow, you can push out your chain, and you don’t need to go through your own validator step at this time, So we can do a lot.

Here is a brief introduction to you. We do see that some protocols have created many opportunities for new verifiers. We also see that Staking is also used as a In terms of the system, as a system, the continuous rise brings new opportunities and some new costs. This is the reality. I think the whole world of POS is facing such a state. Now everyone hopes that we don’t need this verifier, and we don’t need to go through the verification step when we withdraw from the chain. Business model, because this business model requires a lot of key factors, such as being verified by the foundation, let me introduce to you what is different as a verifier.

Sommelier We are also doing a decentralized strategy. Among the things we do, our own protocol is on Ethereum, but it is supported by the cosmos chain Yes, what Cosmos does is to have several strategists, and they will send a message to the verifier to tell the verifier that they have received this information, and they will also update it. After the update, they will execute it on the smart contract of Ethereum, so that The infrastructure allows us to have a very unique strategy. This is a high-yield UAC strategy for us, and it is very competitive in terms of liquidity.

Now that the verifiers are constantly differentiated, the verifiers will be given a more important role for them to play, so that they can be verified on the chain, and also Build your own protocol, this is what Sommelier has done.

In addition, in the migration of cosmos and DYDX, each verifier has its own independent operation, and also has its own agreement and contract. There are also some features, like BFT, which are a chain of long differentiation. Our main model now is our agreement, that is, in our agreement, we have our own validator's order operator, which is an order operation on the chain and provides a service for transactions on a chain , so that the verifier verifies the next chain, we will continue to rotate different verifiers, and the verifiers will operate the link of this chain of this order. What does this bring us?

What brings us is the operation of the verifier, which is also differentiated. Compared with the general verifier, what they provide is a service, and Being able to communicate directly with the order flow, our service quality will be better, and we will have faster confirmation information. In this way, it is tantamount to a great difference from other service providers in the model.

The next important part is the validator of the evolving business model. When we talk about Restaking, we already have a validator, and there is also cosmos on the Ethernet , basically the idea is very similar, we already have verifiers on a network, we can add new services on top of this, in order to get more extra income under this mode, the verifiers start to run Verification, this includes onrecord and other verification capabilities, which will have a great impact. This will have a great impact on the economics of verifiers and the future, because now we say that the resources we need come from Running Cosmos In the environment of Ethereum, we designed a relatively small organization, so the resources required are not many, so we can see that restaking continues to rise and develop, and it also adds a validator that can generate For those who hold Token, they will also get more benefits through these agreements.

They will face more pressure to go to the same stak and have more work to do, because you now have a basic reward , because you have verified this chain, these rewards may not be able to increase these rewards correspondingly every time you add a service. For example, if you generate a block on Ethereum, then you can get a certain reward, but you Doing the same in other places does not mean that your reward will be doubled. There may only be a certain percentage of this reward that can be increased. The same is true for the launch of the Cosmos ecosystem. Cosmos will launch a new chain, and there will be many Verifiers are mainly rewarded through the reward of atm (sound), which is also easy to sell. The new chain launched may bring some transaction fees to the verifier, but this cannot be obtained from the income from the pass. In comparison, what we need to solve is how will these verifier service models change in the future? First of all, there are a lot of pressure from competitors to provide more and more services, and this income will not increase proportionally with the increase in service provision. This is a big problem, because it will eventually cause the entire As a service, verifiers will become more and more centralized, because these high-tech verifiers may become more and more concentrated vertically, and unite them into a whole group of verifier services.

Well, this is what I want to share with you today,

sommelier.finance , we just launched a strategy yesterday. This strategy is highly related to today’s content. Before we talked a lot about easycan, the current strategy is real yield it, mainly to maximize your returns. At that time, you will have a lot of different exposed products, all of which are operated on our Sommelier platform. We also have many operators, stable coins, and ET strategies. This strategy has been used in the past It has been online for 8 hours and has reached millions of TBL. This is the best way in the future. Using verifiers will help you grow your ET in the best way. This rate of return is very high. I think This is the future of validator economics, and this is one of the successful protocols for future validators, thank you very much!

Jason:Thanks Zaki for sharing about economics, which is very relevant to our upcoming keynote Fit, the next guest is the boss of today's organizer, HashQuarkLeo Li, Leo has more than 12 years of experience in block-first technology, financial technology and cloud computing, he founded China's first innovative Blockchain-as-a -Service platform, and holds a number of distributed computing patents, he will share Staking from the perspective of Web3, we applaud Leo.

Keynote Speech: "Staking from the Perspective of Web3"

Leo Li, HashQuark is the CEO:Thank you very much for coming to our forum. Before I start, I will also briefly introduce HashQuark. We are the company responsible for Web3Staking under the entire HashKey of HashQuark, which is more in line with today The topic, we have started this staking business so far, in fact, it has been 5 years, we opened the first external staking product on December 5, 2018, today is also a very coincidental day, at 3:00 this morning Now I haven’t slept, and I have been staring at the Shanghai upgrade. Why is there a Shanghai upgrade? This matter has a bit of a relationship with us, because we first funded Ethereum, and there was a demo day in Shanghai, so to commemorate this day, it is called Shanghai Upgrade. The topic of my speech today is "Staking from the Web3 Perspective". Especially friends on the forum are discussing very intensely, so I will add a few more words here.

The first thing worth paying attention to is that Ethereum has begun to deflate. The so-called deflation is the new tokens generated by Staking every day. Because of the amount burned every day, the overall amount of Ethereum is decreasing every day. I believe that when the Shanghai upgrade is completed and there is no such liquidity problem, this trend will become faster. Let me start with the keynote speech.

Everyone is very familiar with this, from Web1 to Web3, Web1 is a read-only network, Web2 is a read-write network, and Web3 actually emphasizes the concept of ownership. What does this have to do with Staking? From the perspective of Web3, there are several points worth paying attention to in terms of ecology.

1. The path of innovation is very fast. We can see Ethereum as an example. From DEFI to NFT to DAO is very fast, there are many projects, and the cost of starting a business is extremely high. Low.

2. There is no data boundary. For example, we often use traditional WeChat to obtain Taobao data, and Taobao cannot share with WeChat, but in the block There is no such difference in the chain. We can see that NFT users airdrop to openseat users to obtain new users in this way, so I think this is a world without data boundaries.

3. The development is extremely lightweight. Let me give you an example. The traditional centralized trading platform has tens of thousands of people in coinbase, so this one only has a few thousand lines of code It still runs fine all the time without any issues, so I think it's a lightweight development.

4. Community-based operations, take the recent NFT project as an example.

The reason why the previous points can be achieved depends on the fact that Web3 has a very, very powerful infrastructure. The public chain is absolutely safe and guaranteed to be safe Yes, we can see that something happened to FTX before, but nothing happened to DeFi, and nothing happened to NFT. These things are essentially based on Ethereum’s blockchain-based security.

Why can we quickly develop an application as mentioned earlier? The fundamental reason is that fat protocols and thin applications have already done a good job of security, operability, and smart contracts. What you need to do is essentially just write a smart contract, and this smart contract will always be safe and stable. , the cost of your application development becomes extremely low. Essentially, as long as a development may take a few days to write a smart contract, it means that an original product has been operated. Based on the Token economic model, all parties gain benefits, and the larger the network application The greater the value. The third DAO-based governance is essentially a centralized process. Why is nothing wrong with DeFi? Because it is the governance of DAO, there is no black box in this.

What does this have to do with Staking? Staking is essentially used to maintain the network, only staking and Bitcoin mining are essentially the same thing, because I contributed the right to generate blocks and maintain the ledger, so I gained income, of course there are a few differences, It is the first to maintain a decentralized ledger. In the future, there will be few other ledgers except for the large energy consumption of Bitcoin, so this is the first. Staking may transfer from L1 to L2.

The second one is to share some centralized income. Let’s see that the ether income is divided into 3 parts. The first one is Staking income, GAS income, and MEV income. This is actually It also accounts for a large part, and the fourth part may have some other benefits.

The third staking is not only to maintain the network department but to share revenue, but also to decentralize governance. HashQuark has made more than 80 public announcements from history to today For chain staking, we are also the so-called largest staking company in Asia. We often vote on behalf of the company, because tokens represent voting rights, and we are also one of the few relatively large suppliers of LIDO.

Briefly introduce HashQuark. We are a company under HashKey that specializes in Web3 infrastructure. Our ETH Staking is currently the largest in Asia, regardless of MEV, etc. Wait, we can do 4-5 annualized. You can take a look at the difference between Staking and others. Our original DeFi income has always been relatively high, but the advantage of Staking is that you don’t need to give me the token. You can put it in the cold wallet and still hold your token. Just give me a voting right. The income of the second Staking is not obtained through transactions, but is obtained through the previous Staking+MEV income, so there is no risk of supervision, and the currency standard is extremely stable, so these are very good, CeFi will face Centralization issues, DeFi faces contract risks and free losses.

This means that HashQuark has done it now, and it has never had any security problems since 2018. Our entire node is across many clouds, in Hong Kong , Singapore, South Korea, and the United States have all made some distributions.

Nothing else, thank you!

Jason:Thanks Leo, speaking of Staking, Liquid Staking derivatives LSD) track is the hottest topic so far this year, and we are honored to have our next speaker, Matthias Ang, ssv.network introduce distributed verification technology to enable the development of liquid staking derivatives, please!

Keynote Speech: "Distributed Verification Technology Empowers the Development of Liquidity Staking Derivatives"

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Matthias Ang, Head of Business Development at ssv.network: Hi, my name is Matthias, and I am a solution investor from ssv.network DET , everyone is welcome to discuss with us how DVT can empower the development of LSD, and take a look at my content today.

Let's take a look at the content today. First, let's look at the current progress of the LSD market, and how withdrawals will change the entire game, as well as the main problems of LSD , and what problems DVT can solve, what problems it cannot solve, and how to solve LSD in the last content.

LSD has more benefits than normal staking. LSD can have DeFi protocols as a pledge for leverage and has more uses, so it has more advantages , the number of LSD will further increase by 20 to 30 million.

The current market situation is that most of the LSD is pledged through Lab, and about 32% are pledged through Lab. The following is the proportion of coinbase It is 30%, everyone knows it very well, now it is 3.2%, of course, this situation is not very ideal, why is the current market situation like this? Some of the barriers to entry, what exactly are the barriers to entry into LSD?

The first is the requirement of large capital, and the second is to operate the nodes of the Ethernet. Now everyone raise your hands, how many people are very familiar with the Ethernet Staking in Fangfang? How many people have LSD? Not many people, so why? Now Shanghai has just been upgraded, and now LSD is currently a stagnant market. Why is it a stagnant market? It doesn’t mean that the data is not increasing, but the market share has not increased a lot. Although Shanghai’s upgrade has been completed, currently put your Stake transfer is relatively difficult. The important thing now is that the small LSD players are hard to compete with larger players. The main reason is that it is very difficult for you to maintain such a pag, and it also requires a lot of Funds can support you.

A year ago, they had the largest liquidity pool at that time, and they also did a lot of activities, and later found that there was a 10% impact, Later, there were some other liquidators, which tells us that in the future, LSD itself will also be linked to other assets, and must also be pledged. This is also the purpose of LSD, and it is also here. If you want to obtain additional income, you are very lucky Our problem has been solved, as I said before, we want to withdraw money, it can be seen that from one agreement to another agreement, I personally think that this kind of withdrawal or withdrawal like myself is very important Small LSD is still competitive, and it is also competing with some large players, because the link between itself has been affected, and everyone’s confidence is stronger, because we ourselves are in this process There are more opportunities for arbitrage. Through this arbitrage opportunity, you can decide whether to peg or not, so this is an easier way to maintain. Now some small LSD players can support them, and they also If you are more willing to support small LSD as a pledge, your own experience will be better. Through this advantage, you can get better returns through DeFi casinos. You can hope that the return can reach 20%.

We talked about the first question, which is a large capital demand, that is, when withdrawing money, the second question is about your own ether Byte verification, we can see how the byte service is?

The verifier itself is not a person. Among the nodes of Ethereum, verification by these people is required. Who are these verifiers? They can also be said to be friends, or they can be another entity. There must also be some professional verification agencies. They run different verifications and provide them as a service to customers. At the same time, they may also have their own deposits. Stak they can Validation is done through these validators.

Let everyone understand and unify everyone's understanding, LSD pool 101, you put capital in a pool, with smart contracts, there will be LSD, The LSD pool will also have an operator. They will get the operation and then provide you with your reward. They are not here to build this pool by themselves. It is someone else’s business to build this pool. They run this pool to provide verification, and they provide verification. Verification on this pool is carried out by a third party. How can they securely process the verifier and ensure that the verification can be carried out safely?

One is that LIDO uses a trust-based approach. They have 29 verifiers in the market that are fully trusted by LIDO. It is a big problem. They use a set of trust mechanisms, and there is also ROCKETPOOL, which is also based on trust. Anyone can join the website, but they need a very large pledge, and you need to verify the assets Half of the pledge is required, and this pledge is very high. You can see that ROCKETPOOL requires a very large amount of pledge.

If I hold an asset myself, the amount of my pledge is to reach half of my asset, so we have a DVT here, which is called Distributed verifier, this is a technology we developed, DVT just mentioned, that is to say, we need verification, node verification, this verification can be done in a distributed way, and a verification work is distributed Go to different parties and have different verifiers do it separately. There is no way for you to have a valid signature, and they also need to have a consensus. For example, the three of them have reached a consensus and consensus, and verification must be carried out before submission.

What problem does DVT solve? It seems to be a very simple problem, 1, 2, 3, 4, is to solve the occurrence of malicious events. In this case, ABC has correct data, and there is no problem with correct data, but we need to have a consensus. There is a consensus before committing, which can reduce the occurrence of single events.

The second one can reduce the offline pink line, which is also ABCD. They don’t have to worry about the verification part when they have any customer problems offline. Except for some customers who are offline, some of them are still online, so the related risks can be reduced. One verifier has one algorithm and one configuration is DVT, but we have multiple verifiers who can have multiple configurations for verification. Different databases, different geographical locations, if we talk about different geographical locations themselves, this is a bit like we also create a system to cover these different locations. We know that this DVT solves these problems, what problems cannot be solved? This is very interesting. DVT has some problems that cannot be solved. The first problem is how to communicate and coordinate between Stake and operators. Even without DVT, this problem still exists. Operators themselves also need to communicate and coordinate. We also have this problem in Singapore that does not require trust. system, communication and coordination issues.

The second problem is the performance, which is also a problem that DVT cannot solve. If it is a non-current Operator, there is no need to pledge, we can Solve this problem at the network level, because sometimes if most Stakes are involved, they will punish operators that perform poorly, which is also the main reason.

At ssv.network, we have a DVT solution, and we have further introduced the DVT Network solution, which includes smart contracts, but there is no Any manual communication and coordination is based on DVT in our multiple operator networks.

Let's take a look at the few problems we faced just now. The first one is the communication and coordination problem, and it is also on our own ssv.network network. We can Through smart contracts, communication and coordination are carried out on Ethereum. What I just mentioned is that they need to authorize the verifiers. They need to know which operators to use these smart contracts, and also know a series of information such as the payment of these smart contracts. .

On our network, we can obtain relevant information from smart contracts, and dynamically create tools to help verifiers verify. The second is DVT network, it can be said that at the network level, it can guarantee that every operator has performance, so as to avoid certain situations where there is no performance or being punished. Any Stake can go to any smart contract pool and can It is very important to make changes, because we usually withdraw cash now, some operators are malicious, and they will exit the verification and enter a new verification layer. This does not happen every time, and it can be guaranteed Each operator can have performance during the verification process, improving their performance.

The last one is collision to ensure that the entire cluster will not crash. For example, your current interface is very simple, just a single interface. In fact, every Each operator has its own cluster. For example, this group of friends has created a cluster to deceive. For example, if you have a small network and you have 100 operators, they may have 20 or 25 of these 100 operators. For fixed clusters, it would be more troublesome if they are connected to each other. Therefore, in the DVT network, we can select a certain operator to join our Network, look at past performance, and verify how well it is done. In this way, we can say It is to select these operators to participate in the network.

I just talked about LIDO and rocketpool. It does not need to be trusted, but it has a very high pledge. For Ssv.network, this is DVT In this way, we can know that the operator builds its own cluster. We just talked about the withdrawal of LSD, and now LSD allows new players to withdraw cash here, and the DVT network can reduce the problem of trust in a single operator, and at the same time it is enough Help solve the problem of coordination and communication, and reduce the problem of crash and serial mode. At the same time, in ssv.network, we can solve the problem of DVT.

I want to talk about socketpool and they have spent a lot of time pushing the current service. They have also done some investigations on some back-end services, ssv.network It allows developers to continuously improve the experience of LSD users, continuously enhance the socketpool, and focus on building the infrastructure without worrying about other problems. It is like using AWS at the back end, and the infrastructure is It’s very powerful, so don’t worry. If your protocol allows users to have a better experience, it’s mainly because of decentralization and non-permission. We’ve already achieved decentralization and non-permission At the same time, we can also directly provide users with a better user experience, and a high degree of decentralization.

I would like to emphasize that many developers are now building their own applications. For users, using our ssv.network can help You build a better application, which can give users a better user experience. I know that many of the people at the meeting today are developers. You are welcome to join our platform. We have many plans now. These It's all public and open, can you tell us what you're working on? ssv.network We have a total of 3 million financial support to help developers build their own applications, no matter what stage it is, this is a journey, we will have a financial support, and we also have partners, they are some POS players, they will also use our ssv.network network for those innovative developers, and we will provide strong support.

This is the big family of SSV. You have seen several of them. They are constantly entering the main network and have established their own The ecosystem, we will test with luido soon, and there are other institutional customers, some people may be sitting in the audience today, we have some institutional partners, my time is almost up, thank you, this is My QR code, you can scan the QR code for more information, thank you!

Jason:Thank you Mathias, I think we have just entered the world of business pile derivatives, we must We will look for more applications and developments in this field. Our next keynote guest is Yang Kun, the co-founder and CEO of Forbole. Mr. Yang passed 20 years of experience in Internet development and design in 2017. Today he will Give us a round of applause for sharing our Web3 journey with Forbole!

Keynote Speech: "Sharing the Web3 Journey with Forbole"

Yang Kun, Co-Founder and CEO of Forbole:Hello everyone, the previous guests mentioned Forbole, I am very happy to have the opportunity to participate in today's forum discussion, I am Hong Kong I was born here, grew up here, and founded the company Forbole. Today I would like to introduce to you the company I founded. Forbole mainly builds the infrastructure of Web3. It was established in 2017. We established At that time, the business was very focused. We hoped to become a major member of Web3 development and lead the development of Web3 at the same time. We wanted to create and serve the entire Web3 ecosystem through various core services and contributions.

Our focus is on decentralization, security, and performance. We have also developed different Web3 infrastructures, and have done a lot of Kaiyuan For development work, we have also put a lot of resources into building communities. We have many different blocks to help everyone better understand how to do Staking, as well as a wider range of knowledge about Web3.

Let me introduce our history and co-founder Terence. The two of us have cooperated for more than 10 years. We used to do digital marketing together. At that time, we had many In fact, our focus at that time was on the development of mobile applications. At that time, we were helping customers to study some user behaviors. There were a lot of data analysis and data processing work to understand the user's behavior habits. This can help Customers make better use of advertising budgets and help them achieve their advertising goals, so we are very familiar with the problems of these advertising platforms and social media, so in 2017, we learned about the area by chance. Blockchain, at that time we knew nothing about blockchain and Bitcoin, and we knew nothing about Ethereum’s smart contracts, but we were very, very interested in the concept of decentralization, so we decided to enter this industry.

Soon we thought of the Chinese proverb "There is a Bole to have a thousand-mile horse". We know that Bole has the ability to recognize and train and train. In the world of Ethereum, there are people who can fully release and open the door of such potential, or people who can cultivate talents, discover and cultivate talents, and we at Forbole also hope to be able to identify talents and open Web3 in the Web3 world The door to find Web3, or more talents in the Web3 world, this is why our company is named Forbole.

At the end of 2017, I am going to develop a blockchain using the Tendermint consensus. Consensus: I read a lot of information about the founder of Tendermint, and we learned about cosmos. We participated in the competition at the end of 2018 and won a relatively good award, and GAME OF STAKES became a well-known verifier , This is the origin of our business. We have been doing Cosmos verification work since 2017, and we have been continuously expanding verification services, and our team is very strong, our infrastructure team is very strong, from different countries around the world And culture, which can help us better pay attention to the dynamics of the network 24 hours a day and 7 days a day, and help us understand the latest development status of these networks, and then better understand some online governance and so on.

Now we have covered 70 networks and are doing verification. There are 50,000 principals. We are doing verification of more than 100 million US dollars in Staking. In 2018, I was working on testasnets, which is a website. I wanted to create my own website to watch all trading activities. I created such a website. Later, there was a hackathon competition called HACKATOM3. I created such a tool to go Evaluate the performance of the verifier. Later, after my solution was submitted, I also won relatively good awards and rankings. This is the browser I developed called Big DIPPER. When I was young, I liked looking up at the sky very much. My first time At that time, the teacher said that if you want to understand the universe better, you have to look at the sky. When you look at the sky with naked eyes, you have to look for the constellation "Big Dipper". You have to see the whole universe clearly. This is why I call the browser Big DIPPER The reason is that it has been open source from the first day, a fully functional Web3 browser, and this browser can now be customized, and we have done several different projects, and they all use BIG The main browser used by DIPPER. Of course, we have not forgotten the entire network. We need to continue to develop. In the early days of Web3, there was not enough infrastructure to develop these social media. There is no such foundation for friendly social media. facilities, so we very much hope to be able to develop such platforms by ourselves, so in 2019, we were thinking about how to build a decentralized social network, so we created a prototype. The prototype made in 2019 was called DESMOS at the time.

Why is it called DESMOS? In fact, it is called "connection" in ancient Greek, so the purpose of the social network is to connect people in the social graph. It is an open social graph, so we should give this connection to everyone. So we are called DESMOS.

We put a lot of resources and energy into development, there are many modules that can support different social media, developers don't need to think about every single function , Like posting, etc., there is no need, they can directly use the modules on the chain to create their own social applications.

The first thing we do is the DESMOS profile, which is different from other Twitter IDs, because on Twitter you may spend There will be a portrait for $7, but it can’t completely draw you as a user. What can’t be done, but the profile of DESMOS can be connected with your address, or Twitter or Facebook account, so that your off-chain social media activities can be connected. After these activities are connected, your personal characteristics will be generated, and you can use the decentralized ID to interact with different people on social media. interact on.

We have spent a lot of energy developing DESMOS, including Web2 developers, including APIs and Live Testnet developers. You need to go to the website and read the literature to develop your own DESMOS application without any knowledge of blockchain. We have an entry-level project, which is subsidized. If young people want to do related work, they can come to us. We can give you the DESMOS novice package, which is a very important Scripta network. You can log in with a wallet. Your DESMOS profile can benefit from making money.

I used to do user interface and Web development, I have been researching these topics, including Graceful degradation, sesponsive desige, lazy loading, etc., in fact A very important point in UX design is optimistic UI, which will change the way end users use the Web, because it will allow these users to interact with users more quickly, and then these users will use this tool as easily as any other simple The tools are the same.

We want to connect the blockchain with the user... so we highly recommend using the optimistic UI, users only need to click this button to immediately To interact with users, there is no need to wait for the transaction, there is no need for this transaction time, 7-10 seconds is not needed, there will be a response immediately, and we are very active in regulation and community, we have a lot of energy to develop open source Software, including Big DIPPER, we have also considered many different regulatory issues, and we have also participated in Desmos Academy, which is a free course for Web2 developers. If you want to develop on DESMOS, you can enter Academy and learn about blocks Blockchain infrastructure, as well as the current challenges of UX, etc. We hope to encourage Web2 developers to make full use of these resources to get in touch with blockchain and create Web3 applications. We know that education should start from an early stage, so whether you are Web2 developers are still Web3, our education work starts from the university, we have a DESM OS university project, we will jointly do some projects in the final year of students, these students can choose DESMOS as their project before graduation to participate .

We also have an investment department called Forbole VENTURES, this is our current investment project, Forbole was only the two of us before, my colleagues and I are A start-up company in Hong Kong has now become a global team covering 8 countries around the world. At the beginning, there were only 2 people. Now 50% of the team members are women. Our headquarters is still in Hong Kong. This is our Team, we talk about the future of Web3. We believe that everything is decentralized, and security and performance will be integrated in all aspects of daily life. We will continue to improve the quality of Web3 infrastructure, and Will lead the construction of the entire infrastructure. In 2023, we will continue to introduce more functions of BIG DIPPER, including the integration of wallets, and our Big DIPPER and DESMOS will carry out deeper integration, so that some functions can be realized in a wider range of SocialFI authorizations, and we will also launch I built an ETH staking platform, using SS3.

Okay, thank you very much, if you are interested, you can come to our booth 02 to have a chat with us, or you can ask us to do commission, you also You can use BIG DIPPER to develop any application you want, and jointly create a better future for Web3, thank you!

Jason:Thank you very much, the next part of our branch event is Web3 Infrastructure, please welcome our guests:

Qiu Chen, Head of Alibaba Cloud Web3 Solutions and Architecture,

Trust Wallet CEO Eowyn

ConsenSyS Shuyao

INCE CAPITAL Partner and LBank IC member Czhang LIN< br>

SlowMist CTO Blue

< b>and my colleague and host Dora, CMO of HashQuark

They will discuss the wide application of Web3 infrastructure from different angles, We applaud everyone!

Panel Discussion: Web3 Infrastructure

Dora: Good afternoon, everyone, thank you very much for listening to our roundtable discussion with an hungry stomach. I am Dora, the CMO from HashQuark, and I am very honored to invite all distinguished guests to participate in our discussion today , first of all, please introduce yourself.

Qiu Chen: Hello, everyone, I am from Alibaba cloud affairs department, and I am in charge of web products and Solution, my name is Qiu Chen.

Eowyn: Hello everyone, I am Eowyn, and I am currently the CEO of Trust Wallet.

Shuyao: Hello everyone, I am Shuyao, and I am in charge of global BD at ConsenSys.

Czhang LIN: Hello everyone, I am Czhang LIN, and I am in charge of WE.3 at INCE CAPITAL One piece, and in the LBank organizing committee, thank you.

Blue: Hi, I'm Blue and I'm CTO at SlowMist.

Dora: Several guests today have something about security, and there is a traditional Web2 march Web3 also has the most loyal ecological contributors of Ethereum, as well as our traditional investors, who are also responsible for the security business, so my first question may be a bit subjective. The method doctrine of the block chain is used as the judging standard, and 0-100 is used as a scale. Regarding the construction of the current Web3 infrastructure, how much do you think the progress bar has reached, and what do you think is lacking? I would like to hear how students from traditional Ali would answer this question?

Qiu Chen: I am a cloud vendor, from the perspective of a cloud vendor, strictly It is difficult for me to give an evaluation of the progress bar, because Alibaba Cloud has supported many large-scale Internet applications in Web2 in the past. In fact, we have two very important indicators for this matter, your consumption of cloud resources , and the number of users of your application itself can measure whether there is a large-scale application, and its impact on the reliability and stability of my infrastructure after it appears. In fact, this is a very important indicator for testing the infrastructure capabilities of cloud vendors. In Web3, this Large-scale applications that benefit have not yet appeared, but we have also seen some relatively good phenomenon-level projects, but these projects will grow into such expected applications in the future to test the reliability of the infrastructure. This is more critical. This From the perspective of cloud vendors, a more reasonable evaluation value may be given to see this matter.

Dora:Understood, but Alibaba Cloud has been doing a lot in Web3 recently. According to the news, it is also because everyone in Ali’s internal data monitoring found that the increase in the Web3 area, that is, the use of cloud services has actually greatly improved, so this is also an important reason for Ali’s aggressive entry into the Web3 field. , I would like to ask Eowyn about the 0-100 scoring question just now, what do you think of this question?

Eowyn CHEN: Purely in terms of the number of users, Web3 is far behind Web2 , the only thing that is close to 100 million users is the centralized trading platform. As far as I know, like Binance and coinbase, Binance has almost 130 million registered users. If we go to web3, we can see the mobile phone user downloads on the chain. , the world is only 60 million, and the monthly activity is about 10 million to 11 million per month. Compared with Web2, it is still far away. We already think that the number of users is relatively large in the Web3 industry. If we really want to rate , In fact, when we first set up the 5-year plan, we expected to reach 100 million in 2023, but because of industry reasons and application scenarios, we are far smaller than the established OKR, so it is estimated that we will hit 10 -20 points or so.

Shuyao KONG: I think so, 0-100 is divided into two stages, one is 0 to 1, one is 1 to 100, I think 1 to 100 is basically a scaling process, 0-1 is meaningful for this thing to exist, we belong to the exploration process of 0-1, talked about some The initial application scenarios are far from our 1-100 qualitative leap. The infrastructure we are talking about today is also a process of paving the way from 0 to 1.

Czhang LIN: Thank you, I think the score is relatively high, maybe 20 or 30 This one, but there is an acceleration in the middle, and after the acceleration, it will get stuck in the next one, and a large number of troops will enter the army at the end. This is not a standard scoring system, but more like a system with an increasing range. In this process, I think 20-30, What we invest in is that we like capture, especially early investors like capture 0-60. 0-60 has the largest premium here, and the latter is the stage of entering the Red Sea. It is not necessarily what early investors like. We are in 20 Up to 30, in the next 2-3 years there is still a lot of premium that can be captured, and it will become more and more difficult in the future, because when the regular military manufacturers are all 100%, it will be very difficult to enter the field or there are quite a lot of opportunities. I encourage everyone to do more start a business.

Blue: Scoring is too subjective, I don’t know how to score, we are concerned about safety, For example, in the past two years, because of the bear market, we have paid more attention to the infrastructure. I feel that the overall Web3 blockchain, product form, and various aspects are relatively complete, but we need to work hard on security, applicability, and stability, because after all Too many user security problems have always existed, and no good solutions have been found until now, because after so many years, security problems have always existed, and everyone’s perception of Web3 is easy to lose money. If there is always such a perception , the development may be affected, but generally speaking, everyone has slowly begun to pay more attention to infrastructure and basic security this year. This future will definitely develop better and better.

Dora:Understood, in fact, the process of our Web3 is like a puzzle piece by piece, everyone thinks It is still a very early stage, and this is why so many people gather here to discuss and jointly build this network. In fact, Blue always mentioned the issue of security just now. In fact, many users have a lot of concerns about the usability and security of Web3 applications. , I have a question for Eowyn and Mr. Lan. As the entrance of Web3 applications, the wallet is easy to use and how to improve the experience of Web3 users in the future, as well as how to improve security. I would like to share with us.

Eowyn:Trust Wallet has been around for a long time, this year is our 6th year, so we should What is the extreme degree of security that the form of the wallet can achieve under different technical architectures? When it was first established in 2007, what was the ease of use at that time? Maybe you don’t need to understand coding, and you don’t need to be on the computer side. It’s already very useful to operate on the mobile phone side. Let’s talk about the Turst wallet at the beginning, because our found witter (sound) in order to get the ICU token in 2017, It would be cool to put all the ICU tokens in your mobile phone, so at that time, the ease of use was the demand of the primary industry, that is, the holding of coins and the stand receiving of coins, so the ease of use of wallets at that time The standard is derived from how to achieve such results in the simplest and most comprehensive way. As the needs of users in the industry change, different forms begin to appear. The initial ICU is Ethereum, so we are the wallet of Ethereum , with the development of multiple chains in the industry, users not only want assets on one chain, but also assets on multiple chains. You have to lay out multiple chains and give options to users. This is easy to use. In the past about 4-5 years In fact, the development of the underlying L1 and L2 is to meet the needs of users for multi-chains. Our team has diligently built more than 70 chains behind the scenes to crack the hard nuts and give users no Consider using 50 wallets on 50 chains, which is easy for users.

With the development of DeFi, users' ease of use is not limited to such application scenarios. The easy-to-use scenarios exist between wallets and Dapps. The best connection, to be honest, the current connection is not good enough, regardless of the various forms of the wallt we use, this so-called belongs to the technical layer, we can make the whole scene of better communication and interaction between the wallet and the application Very divisive, politically charged, and chaotic scenes without good continuous standards. I think it also exists in why the application is difficult to run, because the experience is not good, your connection port has no standards and formulation, and everyone is still fighting with each other. This will make it difficult for the wallet to be used as a very useful entrance, or it will be difficult for the application to flow to a very useful entrance. This is a problem that the industry is still solving. After the emergence of Dapps, we are at this stage. What is the application scenario of DeFi? Is it DeFi? Is it an NFT? NFT is the state of buying and selling. In the future application scenarios, decentralized identities may be such a communication protocol. These applications do not even have a pata maker fid (sound) running, so it is difficult to clearly provide such user portals. Corresponding applications to better coordinate the relationship between the corresponding user experience. Few users of our wallets come to this industry to use wallets. Finally, we hope that the development of this industry is because users want to use applications. We are wallets. What I want to change is the best wallet. In this process, our bottom layer is not good enough, our security perception is not good enough, and the actual experience is not good enough. The pata maker fid of the application itself has not been found yet. Relatively We are still in a very early stage of exploring the next real development path. We are also continuing to observe and want to help developers of the application layer in the industry. Based on what we have learned about user experience, user needs, and user The pain points, including the infrastructure we built ourselves, the 6-year layout, induction, and everything on the bottom layer, can we help the industry find a good pata maker fid faster, this is what I hope to follow Questions for you and the audience to discuss.

Blue: The ease of use and security of the wallet that Eowyn just said, especially the ease of Usability is very comprehensive. I used to work in a wallet company for 3 years in charge of security. There are many things in the wallet. For example, the company supports multi-chain, supports Defi and more forms, such as ease of use. For those of us outside the circle, the wallet is the first entrance in Web3. How to better do this kind of compliant entry and exit is also a good aspect. It will take a long time for the wallet to catch up with the development of Web3. Today I will mainly talk about In terms of security, especially from last year to this year, and from 2022 to 2023, there are many types of wallets coming out, especially last year, there were more MPCs, and ENP4337 has also made a lot of attempts, most of which are to solve the security problems of wallets, because before Regardless of the accident on the trading platform, many users of the trading platform have come to the wallet, so many users of the wallet are worried about the security of the wallet. Everyone in MPC believes that security is often a single-point problem, so do it Multi-point, this is a solution, like ENP4337 Ethereum’s official solution, everyone needs to try, this may be some security solutions on the bottom layer and storage, this is very good some programs.

In addition, in terms of wallets, I just talked about it in the audience, and the user's security awareness is not high enough, which can easily lead to phishing. There are many ways of phishing, some of which are Fake wallets, set up a similar fake website, users go up and download and are directly stolen. Sometimes users play NFT, and there are many airdrop scams. They directly enter the private key when airdropping an authorization. Many users trust Web3 like this. There are also many phishing methods, so we often recommend that the wallet side do more processing on user security, such as phishing websites, phishing wallet addresses, and identification of malicious addresses. This wallet must have received a lot. This cooperation has been a lot, security API interface.

When we talk about wallets, when we talk about anti-phishing, we always talk about "what you see is what you sign". What it signs is displayed, and this needs to be done. For example, the EIB712 solution proposed two years ago is also a better solution. Wallet security is the security of users, so we have to do a lot of educational work , and before the user’s signature, in the user’s transaction, there was a new scam last year. For example, if I transfer you a money, many people imitate my address immediately, and the tail number is phishing. In the past two years, I have done small amounts Coins that have no value are not displayed, and the wallet can also do the same, giving users enough reminders, enough phishing addresses and identification of phishing URLs before signing, and displaying the content of relevant signatures when signing in the last step , is not an encrypted string, so that it cannot be seen in English, so overall wallet security is a very important part of the Web3 ecology, and I hope everyone will work together.

Dora:Okay, thanks to Mrs. Eowyn and Blue, everyone mentioned wallet and security Multi-chain layout, but I believe everyone still has a consensus that Ethereum people are the overlord, ConsenSys is a group or an ecological contributor, you also have wallets, and you also have the underlying infrastructure. Recently, the relatively popular upgrade has been completed. First of all, congratulations to everyone for success Landing, I would like to ask Shuyao, has ConsenSys taken any measures to promote the ecology and development of Ethereum this year?

Shuyao:I think ConsenSys is an early contributor to Ethereum, but we are actually a welcome As a chain world company, we have supported 13 chains, so we hope that when you think of ConsenSys, you will not only think of Ethereum, but also all kinds of developers and users from Web2 to Web3. This is our plan and we hope to follow

Alibaba and other Web2 giants are studying. This year’s plan is to look at each ecology from the bottom layer to the upper application layer. In fact, the biggest product this year is the first layer 2 protocol, which is also the bottom layer. The construction of Ethereum allows more developers and more users to enjoy the consensus of Ethereum.

The second point is that we will continue to make great strides in the expansion of IPC, hoping to support more public chains, because we really believe that the future will be a multi-chain In the world of chains, then we go up to the side of the little fox. I especially agree with what Eowyn said just now. The functions of the wallet will become more and more diverse, and it will also develop with the times. Then our little fox this year or the next two The goal of this year is not only to use it as a user-level wallet, but also as a platform for developers. I hope that everyone can see the metamask we will launch this year, which is equivalent to a small program on WeChat. I hope that developers can also come to develop For new application scenarios, Little Fox will also make a lot of progress in safety performance this year, because we think it will be the end, why did we come to this conference today? It is to give everyone his absolute possession of his property and his own data. We hope to be a company that provides a very convenient tool from the construction of the bottom layer to how you control your own private key and control your own data. , We also hope that this year or next year, we will make a qualitative leap from 0 to 1. In the future, users will not need to memorize words on small pieces of paper. We have more and better technologies to allow everyone to truly realize data security.

Dora:Thanks to Shuyao for sharing, I would like to ask Ali’s teacher Qiu Chen about this question, What is Ali's product planning in the Web3 field this year, and what is the current progress? share with us?

Qiu Chen: Everyone has been talking about security issues, because we are the infrastructure of the cloud, or It is our positioning to be a blockchain infrastructure. In addition to computing infrastructure, security itself is an infrastructure in our definition. The definition in traditional Web2 is computing network storage + security, so from the traditional Internet Whether it is doing traditional business or doing traditional business, cloud security capabilities are actually a very strong foundation for Alibaba to build itself, but because we entered the Web3 track today, we found that it seems that I only solve cloud security capabilities and cannot guarantee users or customers. The security of digital assets, because some practices in this industry and traditional industries are still very, very special. We will also vigorously build the infrastructure capabilities of our business security in Web3 this year, for example, in Hong Kong in the past few weeks At the summit, we jointly released a series of Web3 business security tool sets with partners. We used to have the business capabilities of KIC in traditional finance. In the past few years, Alibaba Cloud and partners’ MPC and MML have been launched one after another, and we have begun to accept users. Open and use, why do these things? Because Alibaba Cloud started to do globalization very early, and we do our business globally. We found that when you do business globally, security and compliance are very important capabilities. We hope to integrate all our cloud security with us. Provide business security infrastructure capabilities to partners, and let partners build their own sealing and internal control capabilities. In this way, if they provide services externally, their own business security capabilities are already in place. In fact, your customers use you very much. Rest assured, coupled with the particularity of this industry, you need these capabilities to be added to your business. This is a very important direction for us this year.

Dora: Thank you very much, I also want to ask Mr. Czhang Lin, the industry is very Senior investors are now at INCECAPITAL. In fact, there have been too many black swan events in the past year, etc. From the perspective of traditional investors, the current situation of Web3 and your layout this year are probably What kind of planning? For some events, I also want to hear your hot comments.

Czhang LIN: In fact, we have a lot of planning, we are called PSE, and we understand the whole In the past, many investment institutions used 0, 1, and 2. I think there is nothing wrong with the perspective. This is all correct, but everyone has used the same perspective to look at investment for 6 years. When this creature has reached the successor, it cannot be used. Looking at it from the same angle, let’s go to the settings to see if it matches the project, so P stands for platform. In fact, as mentioned, we use different methods to argueget, or add small programs, all of which have already moved towards the idea of aggregating platforms. I think we Chinese The traffic operation ability is much stronger than that of Europeans and Americans, so there are still many opportunities in this area.

The second includes what is the standard just mentioned, what is the safety standard? Everyone is still in a state of doubt. We think that we want to find some influential tracks and projects that set standards. There are different ways to set standards, including EVN has become a level1 standard. Whether it is a trading platform mentioned by Dora just now It caused legal problems. We think that there are actually many opportunities in the next period. For example, it was very hot in 2018, but now NFT is an independent market. KO is also separated, operations and work are also separated, and investors are also separated. Two big blocks, in fact, this one is very influential, now I think it is very small, the next 5 years will be a big opportunity, we think there is still a lot of room for the possibility of the future, and the real explosion is 4 -Five years later, for example, when we look at NFT, we looked at DeFI in 2018. We have been researching it for the past six months, but we haven’t made a move yet, but we are still studying this area, because we feel that this area includes the attitude and direction of the Hong Kong government , or other government attitudes are in contact. In fact, everyone wants to come in, but when it really reaches 20-30, or there is a certain promise in that place, there have been great changes in DeFi. I don’t know if I have answered you The problem.

Dora: Thank you very much. In fact, the theme of today’s session is Staking. They are all projects that I like very much. I will introduce the main topic today to the direction that everyone focuses on. In the end, I still want to bring it back a bit. I would like to ask you humbly. Do you think that in the new era, as a Staking service provider, can you Give us some suggestions, or do you have any suggestions for this Staking?

Shuyao: Not only are you a friend on stage, but we are also a friend here. We have been making progress together with everyone. The best model of Web3 is that anyone can come in and participate, so the competition accelerates very quickly. The track of MEV started with two players, and now it has been very commercialized. Staking includes security as well. , so the competition is very fierce, so each of us is constantly urging ourselves to move forward, this is the first point.

The second point is like staking, including our RPC. A single company is not very good for the community. We mainly focus on the European and American markets. We serve large customers, and we have some technical advantages of our own. Of course, we also have our own problems, so we may be thriving on our side, and we may not be able to expand in the Asian market.

The third point is that we have a consumer staking platform. Have you ever used it? It’s called portfolio dap. It’s actually similar to Zapo. You can see your assets on dashpor, and you can also do swap, bridge, and Stake. So if you want to ask me about the cooperation method of Dora, I think We can discuss it. I want to say one point. Our business model, gameplay, and the entire platform below are changing every day. We may be a competitor before, a partner tomorrow, and a competitor the day after tomorrow, so thank you We hold this platform, we can communicate more, so as to promote the development of the industry together.

Dora: That’s right, let’s ask Mr. Qiu Chen to tell us Comments.

Qiu chen: Let me talk about two things first, this forum is Staking and POS, Staking is not actually us Of course, it is impossible for us to give any opinions on this aspect. We are customers of travel service Staking. What aspects do we serve? Still infrastructure, Alibaba Cloud's elastic computing is basically a commitment to the best availability in the industry, so in this regard, we are more concerned with optimizing the reliability, stability, and performance of our infrastructure. On the other hand, let’s go back to the many security issues just mentioned, including our customers. When he does business, he also needs to prove his own business compliance capabilities to his customers, and it is also around these things why we To launch a series of safe products.

From the perspective of infrastructure, that is, node service providers, including joint solutions with Kua Ke for exploration and testing, and making their own Alibaba Cloud facilities Well, on this basis, we can lay a good foundation, so that everyone can better develop their own business construction and application development on us, and then Ali often mentions a word called eocsystem, which gives our partners more benefits from a technical perspective. ability, let’s work together to make this ecology well, prosper, and develop healthily. This is a point of view I want to express.

Eowyn: For Staking, in fact, Trust Wallet opened up Staking services to retail users very early , but our idea of staking is relatively conservative. We are particularly concerned about decentralization. All the staking we provide is that the user can choose any node he trusts. We are fully open without any fees. The safest direct path for users is the shortest way to allow their assets to contribute to the safety of the chain. With the emergence of more and more intermediary services, I think it is still beneficial to users. For example, so many node choices , how do I choose? What is the standard? What users care most about is whether the first is reliable, the second is whether it is fast enough, and the third is whether my flexibility is high? The fourth is whether the income is good, or it may be the order of the change. Can the intermediary provide help users solve their considerations in the process of doing research? Our role, at least from the perspective of Trust Wallet, we are We hope that it will be better if promotion is not required. We are very open, as long as we can provide users with more choices, so we also want to see how to balance the optimization of staking services, and choose the shortest safe path for users. A way to optimize the user experience.

Dora:Understood, we also hope to cooperate with you Trust Wallet, so as to solve the problems of users Difficulties, just choose HashQuark nodes in the future.

Czhang LIN: Let me talk about it in several dimensions, one is the security level, or the product level It must be that the Chinese are doing a good job, and they must do a good job at the security level. After all, security is very important. I think more of the small suggestions are at the operational level, platform thinking, and we think bigger. Maybe there are other possibilities In order to exist, you must first open your mind and use platform traffic thinking to do operations, which lies in the effect of making money. I think everyone’s staking also wants to earn tokens, and they still pay attention to product security at the current stage and the operation stage.

I also have a small idea. Recently, I met with many new and old friends to eat, drink, and talk about some things. I heard a very interesting few days Words, everyone knows that AI is very popular, and everyone knows what is the relationship between AI and Web3? AI is productivity, and Web3 is production relationship. I think this is very good, so I use this opportunity to share what I heard with you today. It may be related, depending on how Dora is connected.

Blue: There are not many suggestions, because we have always been a safe partner and also I have been a security consultant for many years. I think it is a good way for Staking service providers to invest in more security to provide users with more choices. After all, security is the most important thing. I can’t say that my money is on your side, or It is to invest in you, but in the end I did not get the income I should have, and may even lose the principal. Points like this are indeed a relatively important point.

In addition, maybe the current Staking service, some previous chains everyone should pay attention to a stability, whether it is network stability or server stability, in the end there is no If you do well, you will be fined and confiscated a lot. These aspects also need to be done well by Staking service providers. Regarding the ease of use, it is true that choosing an easy-to-use wallet will bring more convenience to users, which is basically the case.

Dora:Yes, you can rest assured about this one, I will make a small advertisement at the end, everyone Traditionally, we think that we are a service provider for staking, and we are going in the direction of deepening the thickness of the product. We are also constantly trying to add DeFi liquidity mining to staking to see if we can increase the user's rate of return, including We use node resources to provide RPC services, provide some accelerated and stable networks for all traders, and provide developers with a better network connection experience.

Thank you very much for your support today, and I hope you can continue to support PashQuark in the future. Thank you for your time, thank you!

Jason: Thanks Qiu, Eowyn, Shuyao, Czhang Wei, and Dora for the wonderful discussion, today's session Psoof of Stake and node service industry is over, on behalf of HashQuark, I would like to thank all 15 keynote speeches and Roundtable discussion guests, I hope you have a deeper understanding of the field of node verification. If you need to know more about the organizer, you can follow HashQuark’s Twitter and visit our HashKey Group booth in the center of the conference hall. Our booth is currently a mystery Thank you again for the presentation of the gift box. I am Jason. Goodbye!

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