At 20:00 on June 15, 2022, the latest informal pomelo talk column of the EOS Network Foundation will be broadcast. The topic of this issue will focus on Web3. As an AMA column launched by EOS Network Fund, Informal Pomelo Talk will invite blockchain industry leaders to chat about hot topics in the encryption field, share the development trend of encryption technology, and reveal the stories behind the encryption world.

First of all, let us welcome the arrival of all the guests, and invite the guests to introduce themselves to you.

This article is a review of the exciting content of this AMA event, and the content has been edited.

self introduction

First of all, let us welcome the arrival of all the guests, and invite the guests to introduce themselves to you.

Pan Zhixiong:

Hello everyone, thank you for the invitation of the EOS Network Foundation. I am the former research director of Lianwen. I am very concerned about the development of the Web3 field. I am currently working on a new content aggregation tool called ChainFeeds. I also welcome your attention, thank you.

Funny：

Hello everyone, I am 7 O'Clock Capital Partner Funny, mainly in charge of primary and secondary investment work, I am very glad to come to the Twitter Space event held by the EOS Network Foundation today, thank the organizer for the invitation, and I am very happy that I can today Let's discuss Web3 with all the guests. The Web sector is one of our research directions. Our fund company has also invested in some projects. I hope to discuss with you in today's event and gain some inspiration. Thank you!

Minako Kojima:

Hello everyone, I am Kojima. The co-founder of Matataki, the first Social Token project in the Chinese community, and Meta Network, a decentralized Substack solution, and many of the guests are old friends from the last round of bear market. We have also built many projects in the EOS ecosystem before. , the first prize in the Token Economy Design Contest jointly organized by Fenbushi Capital and Xorder is the divisible Bounding Curve treasury I designed for DAO based on EOS.IO, which is half a year earlier than Uniswap's plan, and it is still a Very forward-looking design.

The earliest prototype of the Social Token community Matataki was also developed by me based on the EOS account system. At present, Xiongshi is also in Ambrus Studio, a Web3 game team, working with everyone to Earn.

Zi Cen:

Question one:

Q&A session

Question one:

Entering 2022, the wave of Web3 revolution can be said to be intensified. Projects such as Web3 social networking, Web3 games, and Web3 identity have emerged one after another, and they often reap high attention and outstanding financing performance. However, these projects can be regarded as subdivided tracks in the Web3 world. The industry does not seem to have a more official and unified explanation for what Web3 is.

So first of all, I would like to ask you to chat: What do you think is Web3, and what are the core elements of Web3?

Pan Zhixiong:

I think why do you mention Web3? It is definitely hoped to solve some problems of Web2, the most important is the problem of user ownership, users do not get the corresponding value on the platform, for Web3, the core is to be able to redefine user ownership, users have their own data, Behavior has complete autonomy.

I think all of this can start with the user's assets. Everyone can independently control their own assets on the chain through the signature of the public key and private key, rather than based on the platform. Secondly, Web3 needs to be built on the premise of no need for trust, so it also needs open source technology and advanced cryptography technology to realize it.

Funny：

In fact, the previous guest teachers mainly shared from the demand side of Web3, which is also a mainstream view at present. The emergence of Web3 is a problem about the distribution of production materials, that is, the problem of content. Web2 belongs to the platform, and Web3 is a brand new one. Decentralized and distributed Internet form, Web3 users have real ownership.

The current Web2, including user registration information, identities, etc., is centrally controlled and distributed by large enterprises. This centralized form gives large enterprises or platforms great power, and at the same time creates many problems, such as Banning names, leaking information, suppressing speech, etc., and in Web2, major players capture the largest part of the monetary value created on the Internet. And Web3 uses a decentralized network to redistribute value to developers, creators and users.

In addition, I think that the ultimate goal of the blockchain is the metaverse, but the goal of the metaverse is too big. In the process of realization, many hardware facilities are still not enough, so we want to achieve such a long-term goal , there will be a long way in the middle.

Therefore, I think the core elements of Web3 mainly include:

Therefore, I think the core elements of Web3 mainly include:

The first is decentralization; the second is privacy; the third is an identity completely belonging to Web3, or an identity in a decentralized society; the fourth may be the distribution of interests of DAO organizations, including incentive mechanisms, creating A new way of distributing value. Finally, there are some tokens similar to non-homogeneity, which are also a kind of identification symbol.

So I think the concept of Web3 has been changing with time, but the core elements are still the above points.

Minako Kojima:

I very much agree with Mr. Pan and Funny’s point of view, and I think that in addition to the ownership of data, accounts, and assets, users must also use the ability of Self Host, so that my props in the game, the content I send, and my Users’ assets, such as their social relationships, will not be rented by giants, nor will they be rugged because of the closure of a small team or the abandonment of products by a large company.

For example, the open source Minecraft program Minetest that I participated in maintaining recently, many community server providers support users to download all world files by themselves, and can fork a copy at any time.

The Minetest team also uses Mastondon, which can also be a Self Host, as their main social media, and even their followers on Mastondon are twice as many as on Twitter.

In addition, SHLUG, the largest LInux community in China, has also shifted its Hacking Thrusday activities every Thursday to online, and uses jit.si, an open source conference solution that can also be used as Self Host, to organize Meet Up, although these are not in the traditional sense The example of Crypto, but it also conveys the concept of Web3 very well.

So I think Web3 is not just a rebanding of Crypto and Dapp, it also includes other open source technologies.

Zi Cen:

In fact, all the design of Web3 has always revolved around a core logic, which is the redistribution of rights and interests compared with Web2.

This means that Web3 needs at least three core elements, open source community (transparent rules), user autonomy, and system dividend sharing (incentive contribution). These underlying logics were actually finalized when BM proposed the DAC concept in 2013, and when V God proposed the DAO concept later.

Question two:

Question two:

An interesting statement is that we are now in the Web2.5 era, which is the key construction period for the transition from Web2 to Web3. Do you agree with the statement of Web2.5?

What is the current pattern of the Web3 ecosystem? What do you think is the best entry point for Web3 landing?

Pan Zhixiong:

First of all, it is not an application with relatively high bandwidth requirements, and its relative frequency of use is not very high, because of the limitations of the underlying facilities, so it is said that there is no very good technology to support various applications. .

First of all, it is not an application with relatively high bandwidth requirements, and its relative frequency of use is not very high, because of the limitations of the underlying facilities, so it is said that there is no very good technology to support various applications. .

I think the entry point of Web3 should start with some applications with relatively low bandwidth requirements: on the one hand, in the fields of video and audio, the bandwidth they need is relatively large, and for example, the storage layer is not ready. IPFS There is no particularly good foundation for issues such as performance and other issues; on the other hand, DeFi, blogs, etc. are very simple entry points that do not require a lot of bandwidth, but they are high-frequency requirements that everyone needs very much. We can also see from last year and this year that the development of Mirror is also very fast. Mirror.xyz starts from the content publishing of users. In the future, it will definitely need to expand to more fields like video and audio.

Funny：

There are certain reasons for the emergence of the term Web2.5, mainly because on the road to Web3, our underlying infrastructure, middle-tier middleware, and distribution platforms are not very complete, such as seven points As a fund, Zhong has also invested in many infrastructure projects, but at present, the development progress of these infrastructure projects is still relatively slow, and many of them have not even launched the beta version.

But on the other hand, the reason why we say that we are currently in the Web2.5 stage is because of the popularity of our application layer, such as Stepn, which was very popular some time ago, and is known as the Web3 movement, including more game projects. In short, the application layer is ahead, but the infrastructure is still lagging behind.

Regarding the best entry point for Web3 landing, first of all, I also agree with the bandwidth problem that Mr. Pan said. At present, the bandwidth and the underlying public chain really cannot support the construction and wide application of large-scale applications such as social networking and games, so I see these Entry point:

Question three:

Judging from recent investment trends in the market, everyone is more inclined to invest in some high-frequency and low-bandwidth applications. At present, we have seen that many subdivisions are transitioning to Web3. With the improvement of infrastructure, Web3 will achieve prosperity and development. .

Question three:

If Web3 is a scenario, then the public chain is the underlying infrastructure that carries the Web3 scenario. So I would like to ask everyone to share: what actions should the public chain take to enjoy the development dividend in this wave of Web3?

For an old public chain like EOS that has been running stably for 4 years, will the realization of EVM compatibility bring more opportunities for EOS to develop Web3?

Minako Kojima:

I think public chains such as Ethereum, Polygon, and BSC have done a lot of good demonstrations in the last cycle. For example, the recently popular Gitcoin Grant has become the most important publicity position for Web3 entrepreneurial teams. Rent, you can also get various subsidies, develop together in a group, and get roadshow opportunities. These benefits are crucial for various small Web3 teams to survive in the bear market. As we often say in Dota, you can only output if you stand still.

Not only did I apply for two projects myself, but I also participated in the community of the Gitcoin Grant Chinese community project. It is expected that we will have a Twitter Space event on Friday, focusing on roadshows and answering users' questions.

EOS has its own advantages in many technical aspects, even today's emerging blockchains, such as Flow, imitate EOS in many technical designs. From today's perspective, if EOS can also incubate a project similar to Gitcoin in the last cycle as a position to protect developers, then the situation today will be very different.

Regarding the EVM compatibility issue, in fact, even today, I still think that many technologies of EOS are remarkable, so I think EOS can be done or not to achieve EVM compatibility.

Zi Cen:

Regarding this issue, my point of view is highly similar to that of Kojima: pay attention to developers. The core of public chain competition up to now is to innovate around the question of "what blockchain technology can do". Developers innovate and create hot spots, and the market follows and copies. EOS has accumulated a large number of high-quality developer communities in 2018, and they have created a lot of dApps based on EOS.

Question four:

Question four:

For the public chain, the foundation has always played an important role in ecological incubation. The function of the EOS Network Foundation is to provide support for EOS ecological development in terms of funds, technology, operations, future planning, and ecological construction, and to further develop EOS as a high-performance The full potential of blockchain.

What role can the foundation play in developing Web3?

Funny：

First, as the moderator said, the foundation should provide financial help. This is also a very important thing for a public chain. If you want to attract developers to develop based on the public chain, you must introduce corresponding financial support and incentive policies.

The second point is that the foundation needs to help the ecology determine some Web3 priority issues. For example, the game track, we all know that the game can definitely gather a large number of users, but at present we have seen all Play to Earn games, the bandwidth is very small, the mode is simple, and it cannot even be called a game. High-quality games, like triple-A games, need to contain a huge story, playability, and a very refined economic model, but such games have very high requirements for the performance of the chain.

The second point is that the foundation needs to help the ecology determine some Web3 priority issues. For example, the game track, we all know that the game can definitely gather a large number of users, but at present we have seen all Play to Earn games, the bandwidth is very small, the mode is simple, and it cannot even be called a game. High-quality games, like triple-A games, need to contain a huge story, playability, and a very refined economic model, but such games have very high requirements for the performance of the chain.

Just imagine: if a certain project has a large number of users, and these users can give positive feedback to developers and projects, can we give these projects on a specific track very large benefits on the entire technology network? Technical support? It can even be said that these triple-A masterpieces can operate very smoothly on the chain, and there will be no downtime when the number of users grows rapidly.

For the EOS network, I think this may be a very good development opportunity, because everyone may focus on profit at the beginning, but the development of the public chain ultimately depends on technology.

Minako Kojima:

In 2018, I participated in the hackathons held by EOS in Hong Kong and San Francisco. These can be said to be the two hackathons with the best experience that I have never participated in so far, and I learned a lot.

Question five:

Question five:

The last question: The market bear market sentiment has been spreading for nearly a month, and you are all community leaders who have been deeply involved in the industry for many years, so I would like to ask you to share:

As ordinary users, how should we deploy Web3 in a bear market?

For developers, the various technology stacks of Web3 are also iteratively improving, researching various new platforms and technologies, and doing some exploration and experimentation of various technologies.

This problem can be divided into two roles: ordinary users and developers.

For ordinary users, even in a bear market, there will still be a lot of fresh transactions and innovative products in the market. On the one hand, financial-related parts are risky, and everyone should remain rational and cautious, but you can still try more products and functions that are not related to finance, such as content sections related to the creator economy, etc., using various Web3 Be curious about new tools, maybe have feedback.

For developers, the various technology stacks of Web3 are also iteratively improving, researching various new platforms and technologies, and doing some exploration and experimentation of various technologies.

Zi Cen:

I believe that decisions should be goal-oriented. If your goal is to change the world, then stick to your chosen track and continue to cultivate; if your goal is to make money, then say something else.

If you are a Web3 practitioner, please be sure to love your career, your project and your boss from the bottom of your heart, and then invest in BTC and ETH. If you are an investor, be sure to keep a close eye on the Web3 ecosystem, keep up with active development teams, and then invest in BTC and ETH. If you are a user, please pay more attention to Web3, the wool can be squeezed out, and then invest in BTC and ETH. The reason why I say this is because I think that Bitcoin is the fundamental of the entire encryption industry, and Ethereum is the fundamental of the entire public chain ecology. If you understand this sentence thoroughly, you can make the right choice at the right time.

first level title

Community Q&A session

In the previous Twitter warm-up stage, users can leave a message for guests to ask questions freely, and each user who is selected by the guests to answer the questions will be rewarded with 25 EOS.

First of all, we would like to thank you all for your enthusiastic questions. Now that the 4 lucky questions are out, let me see what questions everyone asked!

Community question one:

Funny：

Generally speaking, institutions will pay more attention to subdivided tracks, and generally make some investment in the layout of each subdivided track. Once a project comes out, the returns will be very considerable. But for ordinary users, many Web3 projects are in the very early stage, and they have not even reached the public offering stage, so it is difficult for ordinary users to get access to this investment opportunity. As mentioned in the Web2.5 topic just now, in fact, 90% of the current projects may not survive Web3.

For 7 o'clock, we are optimistic about the subdivision of Web3 tracks including: subdivided into plate tracks: infrastructure, middleware, privacy, SocialFi, DAO, GameFi, creator platforms, game guilds, etc.

The other is multi-experience projects, you can pay attention to the cross-chain aggregation track; under the current market conditions, SocialFi may be difficult to get out, but GameFi can still play.

The other is multi-experience projects, you can pay attention to the cross-chain aggregation track; under the current market conditions, SocialFi may be difficult to get out, but GameFi can still play.

Community question 2:

Zi Cen:

The advice to ordinary investors is: when we are pursuing ten times or one hundred times the return, we can first suspend thinking about the business model and pay more attention to the timing. Then look for opportunities with concentrated chips and good performance in the secondary market.

Of course, if the questioner is a very powerful developer, then the ecology of course requires developers to think about the way forward to build products.

Community question three:

Pan Zhixiong:

Web3 and Crypto have promoted the iteration and evolution of many technologies, such as the early discussion on the distributed consensus system, but now people think that various cryptographic technologies such as zero-knowledge proof will become a technology with more possibilities in the future. We It can be seen that the application of zero-knowledge proof technology in blockchain expansion and privacy will be more important in the future.

I think tokens are not a necessary option for Web3 protocols or projects, but everyone is now paying more attention to the benefits and governance rights brought by Token. There are still many ways to expand the difference between Web3 and traditional applications, such as more open protocols, standards and the underlying technology based on cryptography.

Also, a lot of people focus on decentralization, but I think the decentralization feature is more of a problem than a goal.

Community question four:

A significant shortcoming is definitely a usability issue. Google has done an experiment, and it takes 0.4 seconds to load a page displaying 10 search results, and 0.9 seconds to load a page displaying 30 search results, which is only 0.5 seconds slower. This reduced Google's total traffic and revenue by 20%. Not to mention the user experience of Web3, which has made great progress in the past 2 years, but still needs to be improved.

A significant shortcoming is definitely a usability issue. Google has done an experiment, and it takes 0.4 seconds to load a page displaying 10 search results, and 0.9 seconds to load a page displaying 30 search results, which is only 0.5 seconds slower. This reduced Google's total traffic and revenue by 20%. Not to mention the user experience of Web3, which has made great progress in the past 2 years, but still needs to be improved.

epilogue

epilogue

Thanks to the guests for their answers, leading us to further understand the value and opportunities of the NFT market. So far, this issue of informal pomelo talk (Talk With ENF) has also come to an end.

EOS Network Foundation Chinese Twitter

In the future, the work related to the EOS Network Foundation will continue to advance at a high speed. It is expected that with the help of the EOS Network Foundation, the EOS ecology can start the next chapter of vigorous development.

Make an appointment for the next informal pomelo talk (Talk With ENF), we will see you soon.

About Talk With ENF

Informal Talk With ENF (Talk With ENF) was initiated by the EOS Network Foundation to listen, communicate, and connect blockchain communities at home and abroad. The EOS Network Foundation will invite high-quality project leaders in the blockchain industry from time to time to chat about hot topics in the encryption field, share the development trend of encryption technology, and reveal the stories behind the encryption world. In addition, the EOS Network Foundation will prepare surprise benefits for everyone in each program. Actively participate in the live Q&A to have a chance to win benefits.

About the EOS Network Foundation

The EOS Network Foundation is a non-profit organization that aims to listen to the voice of the community, convey the wishes of the community, and support the development of high-quality projects in the community. It will become an information sharing bridge for the EOS community and provide funds, technology, operations, future planning, Key infrastructure support such as ecological construction further develops the full potential of EOS as the world's fastest governance-based blockchain.

● EOS Network Foundation official website

● EOS Network Foundation Chinese Twitter