Juca said, post blockchain hotspots and make a sound!
The following is the transcript of the interview:
The following is the transcript of the interview:
(Slightly abridged without changing the original meaning)
(Slightly abridged without changing the original meaning)
Host: Juka said hello to the partners in the live broadcast room! Welcome to the 6th Juka Talk live broadcast room. The theme of this live broadcast is "IPFS, NEAR, Polkadot, and NFT four hot spots. Who can take over DeFi and become the next investment outlet?"
IPFS, NEAR, Polkadot, and NFT can be said to be the four new carriages that will support the blockchain financial market in 2020.
Today Juka said that it is an honor to invite V-ke, the representative of the IPFS community, Buster, the representative of the NEAR community, Joie, the representative of the Polkadot community, and Nick, the representative of the NFT community. Come talk to us about the project's story and predictions for the future.
First of all, please invite the well-known community KOLs of the four hot projects to introduce themselves to the friends of Juka Talk.
Moderator: First of all, I would like to invite the representative of the IPFS community of IPFS, V guest, to introduce himself.
V guest: Hello everyone, I am V guest, and I have been in the management consulting and personal consulting industry for more than ten years. Later, because of the wealth effect and the attraction of the free thought of decentralization contained in the blockchain, he joined the blockchain to do evangelism and presided over "Blockchain Thinking". I can be found on platforms such as Himalaya, Dragonfly, Jinse Finance, and Bihu.
I use the pseudonym of Chain Circle V, which is taken from V for Vendetta. Everyone understands why it is used as a totem.
Our community, that is, the V guest community partners, is now mainly involved in Filecoin mining, ETH mining, mainstream currency fixed investment, and some opportunities to pay attention to DeFi, hoping to gain awareness through in-depth participation, and Jucoin partners , and shared with other community partners.
Moderator: Alright, next, I would like to invite Buster, the representative of the NEAR community.
Buster: Hi everyone, I'm Buster, the co-founder of Buildlinks. We, Buildlinks, are a boutique PoS mining pool. We only do a few boutique projects. We are currently the top three nodes in NEAR and the trust node of ChainX. I have also been an old leek for many years. In the past, I was most deeply involved in Nebulas, their private equity investor. Later, I also participated in many projects. NEAR is currently the project I am most confident and sure about. If you have any questions about NEAR, you can come to us for a chat.
Moderator: Next, I would like to invite Joie Duck, the representative of the Polkadot community.
Joie: Hello everyone, I am Joie, the co-sponsor of the Polkadot doter community. The doter community was founded on July 13 this year. It was first launched on Knowledge Odaily. Later, it settled in Bihu and became the management of DOT. The copywriting is deeply loved by the community partners.
At present, the Polkadot WeChat group of the doter community has more than 8,000 members, the Bihu doter account has 1.5 million fans, and the WeChat public account doter has more than 5,000 followers. After three months of development, the community has grown to a larger scale.
Our website doter.io has been launched, mainly including the introduction of Polkadot’s ecological projects, various Polkadot information, etc. Friends who want to know more about Polkadot are welcome to log in and learn. We have also made Polkadot’s validator node. If you want to You are also welcome to choose the JOIE node for staking with DOT. Thank you for the invitation of Jubi. The introduction is over.
Moderator: Finally, I would like to invite Nick, the community representative of the NFT track, to introduce.
Nick: Hello everyone, I am Nick from the NFT community, and I am a blockchain believer. I have been engaged in traditional financial work, and I have learned about blockchain since the beginning of 2017. I am a classmate who studied NFT earlier in the circle, and an expert in NFT projects. In the past two years, I have helped the publicity and promotion of more than 10 foreign projects, and have also served as consultants and consultants for some projects.
Our NFT community, namely WAX EASTERN, was established in June this year. We mainly participate in the investment of NFT projects, and pay special attention to the NFT investment opportunities on Ethereum and WAX. Our community is currently the largest NFT community in the domestic NFT field. One of the group, I am very happy to communicate with the partners of Jubi today.
Host: Alright, thank you again to the four big names for coming to our Gathering and Talking Live Room, and then let’s get into the topic of our live broadcast. The first question, I would like to ask the community leaders, what chance did you know about the supported projects at that time? What kind of prospects do KOLs say about their projects? Why are they so optimistic about the development of their projects? Let's introduce Nick first.
Nick: I learned about NFT in 2017 through collectible projects such as CryptoPunks and CryptoKitties. For those who don’t know about NFT, I can briefly introduce it. NFT is the abbreviation of non fungible token, which has unique characteristics. You can understand it as an electronic collection.
The current NFT market is at a critical point of explosion. Although NFT has been oriented to users for less than three years, judging from the current data, consumers' demand for NFT is constantly increasing. At the same time, visionary brands in various industries are also actively participating in the NFT ecology. I predict that in the near future, NFT will stand alone and become a new entertainment category in the global consumer market.
Moderator: Thank you Nick, next, Brother Duck, please tell me how you and Polkadot became connected.
Joie: I learned about Polkadot’s first ICO in October 2017 and participated in it. I also called many friends to participate. At that time, just after 1994, people in the currency circle were in a state of panic. Basically, few people dared to continue to invest in projects. I saw the news of Polkadot’s first ICO on Babbitt. After learning about relevant information, I found that this was the former CTO of Ethereum. Gavin's project, at that time, did not investigate the relevant situation of the project in depth, but simply believed in Gavin's personal technical strength and personality charm, so he decided to participate.
Many people say that what Polkadot has to do is cross-chain. In fact, I want to correct the name. Polkadot’s cross-chain is only a part of the application. It does not talk about the essence. Polkadot is more precisely an aircraft carrier-level blockchain interoperability operating system. Polkadot cannot be simply regarded as a public chain. If the current public chain is regarded as Layer 1, then Polkadot is Layer 0. The strength of Polkadot is dimensionality reduction.
Ethereum is a public chain that can issue coins with one click, so Polkadot is a machine for creating public chains, which is one level higher than public chains. Polkadot can create countless public chains like Ethereum, and each public chain is With a variety of functions, Ethereum only has smart contracts, and some other public chains focus on privacy, and some focus on storage, then Polkadot absorbs them to have the functions of all public chains, which is interoperability Sex, cross-chain is not only cross-assets, the most important thing is interoperability.
Moderator: Next, I would like to invite V guests to talk about how you like IPFS.
V guest: My understanding is very simple. It is the process of evangelism, the choice of investment direction, suitable for long-term and vigorous promotion of evangelism. I think there are two aspects: investing in mainstream coins and mining mainstream mines. As for other popular projects, such as DeFi, NFT, etc., they are placed in a state of high attention. From the current point of view, we have participated in the three major mainstream mines BTC, ETH and Filecoin, and we have participated in the latter two, which is the reason for the relationship.
Regarding the development prospects of IPFS&Filecoin, if the description in the early white paper is truly realized, it will show its talents in the following three aspects:
Distributed storage can solve the problem of repeated storage that centralized storage of massive data cannot solve due to protocol addressing, and it can also solve the problems of security and slow network, unclear data confirmation, and greatly reduce storage costs.
As the infrastructure of all blockchain technologies, it solves the storage problem for the blockchain. It can be said that without distributed storage, there will be no future for blockchain technology.
The IPFS protocol layer replaces the HTTP protocol layer, realizes the reformulation of network protocol standards, and takes over the original traffic entrance of billions of users of HTTP. This is a very imaginative ecological foundation.
If the above 3 points are still more visionary and sentimental, then for investors, the most direct issue is the income issue. At present, the payback cycle of BTC is 500 days, and the life cycle income of a mining machine is less than 1.5 times. This cycle is 350 days, and the life cycle of a mining machine is 2-3 times. If Filecoin does not have an official pre-stake and 180-day mechanism, it should be able to pay back in about 4 months. With these mechanisms, If the current price is cut in half, the cost should be paid back in about 1 year, and the investment income of the life cycle is 3-5 times.
Moderator: Next, let's invite Buster, the community representative of Near, to share your story with NEAR.
Buster: Coincidentally, I only learned about NEAR because of Polkadot’s activities. At that time, Polkadot’s trip to China, I went to Hangzhou Station as an interpreter instead of a friend. In the process of communicating with several projects, there was a foreigner who was very friendly and knew a lot, so I remembered his name Yilong and his project NEAR. When I returned to Shanghai, I introduced this project to Cao Shen and KK. Every time Yilong came to Shanghai, we would form a group chat and have dinner.
Alex from NEAR has developed sharding in the past, and he may be the person who knows the most about sharding in the industry. Yilong was praised by Boss Feng Bo as one of the "most promising blockchain practitioners". The big picture and entrepreneurial spirit are also obvious to all. Not to mention that there are 6 ICPC gold medals in the NEAR team. The team is very luxurious. As long as it can maintain stability, the future will be bright.
Moderator: Okay, thank you four bosses. Next, let’s move on to the second question. IPFS, Polkadot, NEAR, and NFT are all the hottest projects and tracks at the moment. Can you introduce the current status of each project? What about the development stage, community/user scale, etc.? So let’s talk about the overall situation of Polkadot first.
Joie: Polkadot's parachain is not yet online, so the current stage of Polkadot's development is just the time to build the foundation. At the 2020 Polkadot China Tour in Beijing, Gavin shared the latest development progress of Polkadot and the development progress of the parachain with the audience through video connections.
Gavin said that the initial version of the standard format for interaction between XCMP chains has been completed. Everyone knows that XCMP is Polkadot’s core cross-chain protocol. Polkadot’s parallel chain uses the XCMP protocol for data transmission and inter-chain communication in a unified format. XCMP is completed After the initial version, the signal transmitted is that Polkadot's cross-chain is not a pseudo-concept, but can be successfully implemented. The rest is to iterate continuously on this most basic version, and finally realize the commercial version. The delivery date may be in the second half of this year or early next year. Then at the end of the year or early next year, the first parachain will be deployed on Polkadot. The launch of the parachain will be gradual. The first batch of parachains will not be generated through auctions, but will be system-level blockchains.
In terms of community/user scale, the Polkadot mainnet currently has 40,000 valid addresses, 205 validator nodes, and Polkadot’s official Twitter followers are about 70,000. At present, the combined number of people in the Chinese community PolkaWorld and Doter communities should also exceed 20,000 people.
Moderator: Okay, after learning about Polkadot, please share the current situation of IPFS.
V guest: At present, IPFS has been in operation for 5 years, and Filecoin has just launched the main network after two rounds of space testing. There are more than 500 active miners in the world, and more than 2,000 companies independently operate IPFS mining business. It is difficult to count the number of participants. It is estimated that there will be close to 1 million investors, and the investment in mining machines has reached tens of billions in June. The current stage of the industry is technically in the mid-term, and there are still several key technical barriers that have not been resolved: WindowPost submits information congestion problems, TPS problems, warm storage and hot storage and other issues.
In terms of mining ecological construction, it is similar to the stage when BTC is about to fork. Although it has just been launched, the precipitation of the mining industry in the past two years has brought the industry into a game of multi-party interests in advance. The community requires decentralization, and there are differences among miners. , the consensus appears to be divided, and then stabilized after some shocks.
In terms of commercial ecological applications, it is still in the early stage and cannot be truly implemented for commercial use. Severe punishment mechanism, 3 hours of data upload time, and message congestion caused by WindowPost submission, how to buy tokens for commercial use to participate in the storage contract Regulatory issues remain to be resolved. V guest believes that these problems will take up to 2-5 years to be solved well in the future. Even IPFS needs a BTC pizza event to inspire everyone to realize that the use of Filecoin is just for business, not just for financial hype.
From an investment point of view, it is a very good window period for investors who make aggressive investments and make long-term plans, because now that it has just launched, it is facing a big industry game, and all parties are not so optimistic. , when others are fearful and you are greedy, it is a good time. But the premise is that what type of investor you are, you have to examine yourself.
Moderator: Next, I would like to ask Buster to share the overall development of Near.
Buster: NEAR has just launched the mainnet transfer, and the inflation reward has just started today, which belongs to a very early stage. NEAR's account system and governance model are relatively new, and many tools are still being perfected. Many veterans have expressed that they need to learn to adapt.
At present, several ecological projects are ready to go online, such as the NFT platform Mintbase (previously on Ethereum), the prediction market platform Flux, and of course the red envelope application that we will develop at Buildlinks. NEAR's vision is also relatively grand, and its development still depends on the long-term.
In terms of community, NEAR has a lot of developer communities overseas, especially in Russia and Silicon Valley, because the founders were all born in Eastern Europe and worked in well-known companies in Silicon Valley, so the consensus there is stronger
NEAR now has nearly 5,000 accounts. With the migration of some projects from Ethereum in the future, there will be more users on the mainnet of NEAR’s original project. Now NEAR Wallet is also open for registration. Welcome everyone to experience the new generation of blockchain infrastructure.
Moderator: Finally, I would like to ask Nick to share your situation on the NFT track.
Nick: This cat is the most expensive cat in NFT history.
It is called DRAGON (龙), was born on August 19, 2018, and the transaction price was 600ETH. According to the market price at that time, it was about 170,000 US dollars, more than 1 million RMB.
We can see from nonfungible that the total transaction volume of NFT exceeds 130 million U.S. dollars, the number of transactions exceeds 4.7 million, and the monthly turnover is 9.76 million U.S. dollars. The average transaction price of NFT is 26.21 U.S. dollars. 16.
From the data of the NFT trading platform, I will show you the scale of the NFT field. Opensea is one of the most commonly used exchanges in the NFT field, with more than 20,000 users. Compared with projects in the popular DeFi field, Opensea is second only to Uniswap, kyber, and Compound, and higher than Maker, 0x, etc. The scale of this user is not small.
The transaction volume on Opensea is also considerable. On Opensea, there are 706 NFT projects, 285 projects with a transaction volume of more than 1ETH, 59 projects with a transaction volume of more than 100ETH, and 24 projects with a transaction volume of more than 1,000ETH. The transaction volumes of CryptoKitties and Decentraland, which are at the top, are as high as tens of thousands of ETH.
atomichub.io is easy to use, but opensea is still one of the NFT trading platforms that I have to mention. Not only in the blockchain circle, the whirlwind of NFT has also extended to games, collectibles, asset tokenization and other real industries; including Turner Sports, a subsidiary of the multinational media entertainment group Warner Media, Mojang Studios, the parent company of Minecraft, WAX Well-known institutions including Marvel have entered the market one after another, laying out the NFT field.
Although NFT is still in a state of half-out of the circle in terms of application and audience, for the current blockchain industry, NFT is actually a very niche thing. But the statistics above show just how nascent we are currently in the non-fungible token (NFT) market, which could be worth trillions of dollars in total.
Moderator: After understanding the general situation of each project, we will then ask questions about each project. The first is IPFS. Everyone knows that IPFS is a new generation of distributed storage network infrastructure. At 10:43 on October 15th, the Filecoin mainnet was officially launched at a block height of 148888. The popularity of FIL before and after its launch has shaken the entire currency circle . The Filecoin mainnet was officially opened at block height 148888. The popularity of FIL before and after the launch has shaken up the entire currency circle. Everyone is full of expectations for the launch of Filcoin. If the total market value of Filcoin is even higher than that of Bitcoin according to the price before and after the launch, V guest will respond to this What do you think of the phenomenon?
V guest: My opinion is that after 6 years of hard work, first of all, the attitude of the protocol laboratory to do technology seriously has won a high degree of consensus among domestic miners. On the other hand, after BTC, ETH and other king-level project measures, the hot money in the domestic currency circle, chain circle and mining circle urgently needs a new hype theme. After being disappointed with EOS, IPFS took over and became a new After investing tens of billions of dollars in mining machines and extensive IPFS evangelism, this kind of enthusiasm is predictable.
However, unlike those publicity agencies who often say that a Filecoin1 tender model surpasses BTC, V.com believes that since the development of the blockchain, it is difficult to maintain the price and market value of a coin for a long time by relying on consensus speculation. Only by coming up with something new ——It’s not a consensus, but a subversive technological innovation and commercial application. At present, IPFS has this possibility, but it has not been reached yet, so the market value close to BTC is obviously overestimated. The current consensus and stability are far less solid than BTC of. So the accompanying decline is also normal.
Moderator: OK. Next, ask a sensitive question. Previously, IPFS was considered bearish by the market consensus. The futures market funding rate once reached negative 4%, and it is still around negative 1%. When do you think this situation will return to normal? What should be the reasonable price and market value of FIL?
V guest: First of all, we need to understand the reasons for the bearish situation:
The opening price is too high and the bubble is too big;
The economic model of Protocol Labs makes it hard for miners;
3. ICO holders wanted to have a good time and realize their dream of wealth and freedom as soon as possible. Unexpectedly, the miners refused to accept the offer, and the market was bearish. Instead of waiting for it to fall, it is better to sell it earlier;
4. The test coins are directly converted into real coins, including the 1.5 million market-making coins announced by the official, which has allowed the market to circulate a lot more than originally imagined. Everyone is worried when the official will smash the market again. Instead of hoarding it, it is better to smash it .
In such a starting state, all kinds of negative news are flying all over the market, and there are random fabrications to smear people. People are panicked and their trust is reduced, which further strengthens the motivation of some miners forking. Therefore, in the current state, everyone is unanimously bearish.
V customers feel that under the circumstances of the ecological game, it is healthier to fall and squeeze some bubbles that are eager to speculate and flee. The current reasonable market value of FIL should be between 15 and 30, and the reasonable currency price should be around 25 US dollars in the early stage, and 15 US dollars to 20 US dollars a year. Whether it can enter the top ten market capitalization in the future depends mainly on whether there is a breakthrough in commercial applications.
When will it be possible to recover? I would like to talk about several dimensions here:
1. When will the mortgage issue be resolved? It is impossible for miners to buy coins. It is impossible in this life. There must be low-interest loans that match the lower price; at present, it seems that the immediate release of 25% will solve some of the circulation problems, and the loans will be resolved within the next 2 weeks. Coin, codefi will be launched soon. The large-scale occurrence of lending will inevitably bring about a reduction in liquidity and rigid demand.
2. When will miners' consensus and investor confidence be restored? This requires a benign mining track, where big miners do not complain about the government, small miners are not blocked from the door, and retail speculators become more rational and willing to engage in protracted warfare after being thrown out of the ecology. The price will stabilize.
3. How can the technical problems of network congestion such as space-time proof and copy proof be solved? Encapsulation efficiency is slow, when can the waste of broadband resources be avoided? Only in this way can the efficiency of mining be improved, the cost waste of the industry can be reduced, and thus transferred to the appreciation factor of the currency price.
4. When can the penalty mechanism be adjusted more reasonably? The current situation is that for the sake of data security, the government has set up an extremely harsh confiscation mechanism, and they want miners to work, and it is easy to deduct equity.
5. When will the government be able to achieve wise leadership and wise exit (both the great Washington and Satoshi Nakamoto) to achieve true decentralization, which is the core of an excellent blockchain project. I think that forking out is a good counterforce to the official.
6. When will commercial applications be closer? When will warm storage and hot storage be able to solve the on-chain problem, and use the NSE algorithm to greatly improve the efficiency of ecological applications. These basic problems are estimated to take a year to appear.
To sum up, I don't think IPFS is a hot spot, it just went online recently and became a hot spot, but a long-term battle. Hotspots are speculators and media hype, and the cycle considered by ecological builders is a question of 3-10 years. IPFS is something worthy of long-term research and investment.
Moderator: Next, let's communicate with NEAR community representatives. NEAR has been rated as the only dark horse project that has the opportunity to surpass ETH, and has received the investment support of the world's top capital. The supporters and supporters of the NEAR project are by no means small numbers. I would like to ask how far NEAR is from ETH and when Can there be a large-scale dapp application landing?
Buster: NEAR and ETH are not a competitive relationship, but a win-win cooperation. There is a saying in overseas communities: ETH2.0 is NEAR. Because before ETH2.0, the focus of expansion was on sharding, and so is NEAR. Both are PoS consensus mechanisms. There are indeed many similarities, and even the founders look alike. The development ecology on Ethereum has an absolute advantage in the current blockchain world. Almost all innovations come from it. No project has the ability to create an ecology of the same scale out of thin air. Therefore, the idea of NEAR is to empower Ethereum, make up for the defects of Ethereum, obtain the approval of Ethereum developers, and let some projects migrate over.
Currently, projects like Balancer, Aave, and YFII are already researching and testing NEAR. It’s fast and cheap. Who wouldn’t want it? The large-scale application landing mentioned by NEAR is incomparable to the current DApp. Its scale is similar to the establishment of Uber and AirBnB on the blockchain. This is why many designs of NEAR are different, because the people served different.
The whole industry wants to know when large-scale applications will be launched, and I don’t know, but I know that the advent of NEAR will definitely accelerate the popularization of blockchain among ordinary users, and I believe it will be effective next year!
Moderator: The second question, we learned that NEAR will launch the "Rainbow Bridge" function, but many users may not know it very well. Here I will introduce the function of "Rainbow Bridge" and the impact of "Rainbow Bridge" on the NEAR ecosystem. The meaning of development now!
Buster: "Rainbow Bridge" is a cross-chain tool between NEAR and Ethereum. With it, various assets on Ethereum can be bridged to NEAR, and Ethereum contracts can read the status on NEAR. information.
Its implementation is basically: deploy a NEAR light node written in Solidity on Ethereum, and at the same time deploy an Ethereum light node written in Rust on NEAR. Of course, this is very complicated in fact, otherwise the cross-chain The core Polkadot and Cosmos will not receive so much attention.
The Rainbow Bridge is in line with NEAR's short-term goal: to help expand projects on Ethereum. Through the Rainbow Bridge, it can alleviate the problem of excessive transaction fees caused by DeFi.
As soon as the Rainbow Bridge came out, NEAR gained a lot of attention, and some people even directly believed that NEAR could be defined as a sidechain project of Ethereum, which is an expansion solution of Ethereum. Through the Rainbow Bridge, NEAR can attract some Ethereum development ecology, making the project start more smoothly and getting more asset injections. At present, DAI has been confirmed to be bridged to NEAR through the Rainbow Bridge to generate NDAI, becoming the first stable currency on NEAR.
Moderator: Let's talk about Polkadot next. Everyone knows that Polkadot currently has more than 240 ecological projects, covering wallets, browsers, infrastructure, oracles, expansion solutions, etc. At the DeFi level, it also has stable coins, oracles, DEX, lending, Derivatives, insurance and other projects, most of the projects are currently in the early stage. When will the Polkadot ecology usher in the full bloom of the ecology?
Joie: Polkadot is about to usher in a stage of full bloom. We must wait for the parachain slot auction to start, because the parachain launch is the period when the Polkadot ecology will really land.
After the parachain goes online, the XCMP protocol has also been implemented, so that Polkadot's ecological projects can be interoperable. Interoperability means that the functional modules of their respective parachains can be called each other, so that the effect of 1+1>2 can be achieved. Usher in an ecological explosion.
If it is said that Ethereum laid the foundation for DEFI, then Polkadot will achieve DEFI. When it comes to DEFI, I am still looking forward to it. After Polkadot’s cross-chain DEFI lands, everyone can freely use assets on different chains to participate, and in In terms of experience, it avoids congestion, and can achieve extremely low handling fees. It will not lose to Ethereum in terms of security. Polkadot’s ecological battle became famous. I think it is very likely that Polkadot has taken advantage of the DEFI track. .
In addition, I would like to say that Polkadot’s one-click chain issuance tool is Substrate. You can quickly send a chain with Substrate, but it does not mean that the chain issued by using Substrate is the Polkadot ecology. The prerequisite for becoming a Polkadot ecology is certain. It is only possible to officially become Polkadot’s parachain through the parachain slot auction. Therefore, although there are more than 240 projects that use Substrate to issue chains, none of them are Polkadot’s ecological projects in the strict sense. Easily misunderstood concept."Moderator: The second question, Polkadot officials disclosed in their official blog
As soon as the news came out, the industry paid attention to the implementation details of the first parallel chain issuance (IPO). "There will be a huge wave of capital", what do you think of this?
Joie: The reason why leeks are leeks is because everything looks like cutting leeks, but everything you do is getting leeks. In the currency circle, it is most taboo to follow others’ opinions, listening to the wind is rain, and not having the habit of independent thinking. If you think Polkadot’s IPO is a means of cutting leeks, then you must come up with your reasons. Polkadot’s IPO is the first parallel chain issuance. The project party needs to rent the investor’s DOT to participate in the parachain auction. After the auction is successful, the project party will take out some tokens in return. This is the basic concept.
The biggest difference between IPO and ICO and IEO is that the DOT raised by the project party through IPO is only leased and has no right to embezzle. After the parallel chain is locked for a period of time, it will be automatically returned to the investor through the contract, so the investor can always guarantee the original value of the DOT. The security of gold DOT, the token obtained is an additional income. The cost is mainly the opportunity cost, that is, the DOT price may change drastically when participating in the IPO to lock the DOT, and the transaction cannot be carried out without liquidity. However, some teams such as Bifrost are already solving the problem of IPO liquidity. Not only can they obtain additional project tokens, but they can also release liquidity at any time to participate in DOT transactions.
I don’t know if you have thought about a question, what does Polkadot’s IPO mean to this industry? This means that the era when a large amount of funds can be raised with a single white paper is gone forever. Project parties participating in the IPO can only get the right to use the parachain, and those who have this need must not be a team that just wants to raise a sum of money and then run away. , because to value the practicability of the parachain is to value the development of the project itself. And the parachain slots are also leased. After the expiration, the project party needs to pay the cost of renewing the lease. This means that Polkadot’s parachain projects do not work hard, have no profit, and will be eliminated if they are not enough to support these costs. The remaining parachain projects are well-tested, have a complete economic model, and are self-sufficient elite projects.
This is the most essential difference from the fact that 90% of the projects in the Ethereum ecosystem are meaningless air projects, and it is also the most powerful moat for Polkadot to stand firm in the blockchain industry and become a hotbed for the birth of popular blockchain applications.
Moderator: Let's talk about NFT next. Since CryptoKitties, there have been few popular NFT projects in the currency circle. Even MEME is only a flash in the pan. After the gradual cooling of DEFI this year, many investors have gradually shifted their attention to the NFT field. Can you introduce to everyone the current NFT projects, and give examples of the projects you are more concerned about?
Nick: If you pay attention to this, there are still many high-quality projects on the NFT track. At present, ENJ is relatively well-known, which can be regarded as the leading project of the NFT track. It itself is an online game community creation platform, with tens of millions of player visits every month. ENJ uses blockchain to allow players and content creators to add virtual items. The characteristics of blockchain such as non-tampering and bookkeeping can make the content of virtual items more specific and full, even if the game is off the shelf, it will be permanently stored.
Followed by MANA. MANA is the token of the Decentraland platform, with a total amount of 2.6 billion and a market value of more than 100 million. Decentraland is a blockchain-based virtual world platform. In a decentralized world, content creators and game players can trade freely without intermediary fees. Users can create their own blockchain identities on the platform and use the blockchain to record ownership. Any user can create their own virtual space on the platform, publish applications, create, trade, and obtain value. Players can use MANA, which can be used to create territories, purchase goods and services, etc.
And there is WAX. I personally pay more attention to WAX, WAX is the abbreviation of Worldwide Asset eXchange, which is a blockchain specially made for trading virtual items, such as rare items and collectible items in video games and virtual worlds. Instead of having to trust a centralized video game provider or network, players can actually own their virtual assets and transact with anyone on the WAX platform. WAX is a project initiated by the top team in the NFT/game card industry for many years.
WAX has an advantage in cooperating with many IPs in the game field. WAX has also done a lot of things in the first half of this year, such as the establishment of the WAX Association, and more than 10 major companies such as Google/Microsoft/Marvel have sent CTO/CFO/CEO and other company executives to join the WAX Association to help WAX develop. The NFT field led by WAX has a promising future.
Moderator: Next is the second question. As far as I know, NFT tokens cannot be launched on neutral exchanges due to their uniqueness. On some decentralized exchange platforms, NFT asset transactions are difficult to popularize due to high thresholds, gas fees, and difficulty in use. , can not be recognized by the public, what do you think of this? Is there any way out for the NFT track project?
Nick: When it comes to NFT, you have to mention Ethereum. The status of Ethereum in the field of DeFi and NFT today is like London, England in the early days of the industrial revolution, which quickly became a global financial center in a short period of time. When London established itself as a credible custodian of funds and foreign exchange, other international cities each developed their own specialties and jointly promoted the outbreak of global trade.
I believe that Ethereum and other blockchains will continue to develop in a similar division of labor, and more and more industry-specific blockchains are emerging in the ecosystem.
WAX combines the two popular players of NFT and DEFI. The elements of NFT introduce scarce assets to DeFi and improve playability. Combined with DeFi liquidity mining, it solves the big problem of low liquidity in the NFT market to a certain extent. I believe that the economic model combining NFT and DEFI launched by WAX will set an example for NFT's breakthrough.
Moderator: Next is the last question. After that, everyone can discuss freely. In the end, do you have anything to say to the supporters of your respective projects or those who recognize the contribution of emerging projects to the blockchain? First of all, Buster, the representative of the NEAR community, will come first.
Buster: I hope you can pay more attention to the project, and you can come to the community for communication if you have any questions. Thank you also for this activity of Jubi, let more people know about NEAR.
Moderator: OK. Please express your views on behalf of Nick from the NFT community.
Nick: First of all, thank Jubi, thank KIKI, and thank everyone present. Now is the early stage of the outbreak of NFT, and the NFT market will usher in a huge development. From the recent attempt of NFT+DEFI by projects like WAX, it is easy to speculate that NFT will continue to increase its practicality and popularity from here . Of course, compared with DEFI, the scale of the NFT field is relatively small, but it is already empowering art creators in unprecedented ways. In the near future, NFT will reshape the game field and bring innovation to the traditional collectibles market.
Moderator: Okay, thank you Nick, it's time to Joie Duck.
Joie: Okay, thank you Jubi, thank you for listening carefully to this live sharing, I just want to say a word, the future of Polkadot is Web3.0, you and I will be participants in this revolution and witnesses of history, The future of the Internet is reshaped by the blockchain, and the future of the blockchain is led by Polkadot. You can also pay attention to our public account doter, focus on Polkadot’s preaching, and analyze more Polkadot ecological projects in the future.
Moderator: Please invite our IPFS community leader V guest.
V guest: I summarize 4 points:
1. The ecological fundamentals of the IPFS industry have not changed. Filecoin does have problems and imperfections, but it needs to be given some room for growth. The security and low cost of IPFS have been verified, but the experience is not good enough. It takes a process to replace centralized storage. What we have to do is to change from the speculator mentality of quick return to the mentality of long-term value investment. The original intention of this project to reshape the Internet is still there.
2. There is a reasonable estimation of mining investment cycle. From the perspective of mining, even if the price of the currency does not skyrocket, even if there is no bull market, as long as there is a long-term plan, there is a high probability of making money. You just need to be patient. Of course, you must choose the right miner. Whether it is above or below 0.02 Fil should be the warning line for miners to pay back.
3. Everyone is in a state of fear, coupled with the noise of some speculators, the dissatisfaction of investors, the eyeball effect of unlimited self-media and insufficient research, naturally many people will make various frustrated voices every day, and in In a state of frustration and fear, you will lose your footing and believe in false news infinitely.
4. Always keep more than half of your investable assets in already reliable mainstream currencies: Bitcoin and Ethereum, waiting for the possible explosive future of IPFS.
