A community chat with Stefan Rust of Trusted Node on what it takes to run a DeFi Service.
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The Fort Ride is pretty much gonna be talking for about 40 minutes and then in the end of that we'll gonna leave about maybe 20 minutes or so maybe longer to Q&A from the community start writing down the questions and we'll be able to answer them,
Towards the end.
Hey Stephan hey doing good thank you really excited to be here and thanks for fighting me and hosting this event so excited.
Awesome. Thanks for saying yes. So excited. They said to have you. A true crypto veteran today with us.
I'll just let you introduce yourself and trust it trust the note and all the projects that are currently working on and that would kind of
Goes through a few questions that I have planned for today.
Great, great. No, thank you again and nice to meet everyone here. Look, I've been in Bitcoin since 2012.
Got in really early I've spent most of my career in technology luckily experiencing the internet and the growth thereof and then mobile.
And out of that my whole function has always been working with developers and building developer ecosystems,
And it was in 2012 when I was working with some of the
Largest technology companies in the world and this one in specifically with Sony Ericson when we were doing a worldwide roadshow for their Android phones to acquire developers to build applications,
Unique to their mobile phones when one of the developers asked if they could get paid in Bitcoin,
And this was 2012 really early on and that's how I got into Bitcoin. I was hooked right away. I paid them using a Skype call at the time.
And it was instant and it was I mean pretty much free. It cost me nothing. So it was just I got hooked from then on in.
And when Ethereum came around whilst they struggled with the unlimited supply I really got excited by these smart contracts capability and really
Dug into that once I realized that opportunity and just love the innovation
And the velocity and speed at which innovation is happening across crypto land.
But, crypto's gone through a number of different ways, ups and downs, and, right now, we had from 2017 literally or 2018 through to 2021. We had a pretty tough time
In crypto land and it was really a way to sort of really find the hard and,
And true believers in this ecosystem and it really bonded a lot of us together.
To a really pursue the grand vision of what a building this new decentra land right what does this.
new land look like crypto land. What this is look like? How do we structure this and how do we build this? And that's what really gets me excited.
Hey this environment right how do we build a.
Decentralized governed environment. That rewards all of the participants.
And there are number of themes and philosophies,
That we've put down into black and white and the company behind trusted node which is sort of the company that we just listed yesterday on pancake swap is
Sort of building the building company or is a really cool hydro labs.
Hydro labs is the legal entity if you will but how do you build new architectures new companies that are all
Non custodial are governed in with smart contract are and reside and manage the community through you know sort of dolls. How do we build that out? How do we scale that?
And that's really sort of the core philosophy behind hydro lab and ultimate trust that node and that's sort of where we're at.
Awesome. Thanks for there. Thanks for the briefing intro. There's definitely much more going on. In your background which will uncover in the next hour. Cool. So like can you give me the summarise of like maybe that elevator pitch,
Deep kind of what trusted note is working on and how you're achieving that. So trust.
We've seen both of proof of steak, blockchain networks, in, there are about 30 layer one, group of steak, blockchain networks, and sort of the coin gecko, sort of top 100 by market cap,
Listings. Across those networks, and they're gonna be a lot more coming out the road with, with the cosmos chain and the polka dot chain. But what we've seen is,
In order to secure those networks and secure the decentralized station that nature of blockchain there is a reward
For participants that are providing security to those networks we want to make it easy for anybody to participate in securing the networks and receiving the rewards for those
And that was the
Basic principle behind it. We then added a twist to that where we are going. We're building out liquids taking capability which allows users to keep that base capital earning the reward,
While at the same time we give them a synthetic liquid token associated with their base capital to then be able to offer them
Participation in various defies services in our network but also another networks.
That's super cool. Which chains are your planning to launch on? So at the moment we're we're supporting the a lot of the cosmos chains.
So we've got sentinel. We've got Adam or Cosmos themselves. We've got,
Sent to a DVPN we've got persistence we've got a terror,
And we're adding on to those the polka dot ecosystem and then selected new chains,
That and later ones as well. So we've been looking at and later too. Sorry. So we've been looking at Maddock. We're looking at Velasquez as a salon fork together with,
EVM compatibility on there. We've obviously talking about the more famous ones or the layer ones that we all know. Avalanche and.
. Who else have we been talking to? Number of the other big ones. But we have not supported Ethereum too.
Why is that? Just curious. , that's a good question. Mainly because each node is supports 32 ethereum. You need 32 ethereum for each node and then you just need to add more note onto that,
And we just decided to invest our resources in creating liquid staking,
Versus creating fractionalized solutions for a ethnode of 32 weeks.
I believe there are quite a lot of the species are already pretty crowded a lot of players in that space providing non custodial services like that.
So this person is telling you you can't starting trusted note early in this year right? Did the idea come like overnight or was that a slow brewing process over a month or weeks.
How was the inception of the idea for those who are starting entrepreneurs or founders in in this room? , I mean, a lot of ideas and as an entrepreneur, a lot of ideas are coming.
From problems that you experience in
Having been in crypto since 2012 I've naturally sort of accumulated a multiple different
Portfolio of coins if you will or tokens and I had them on exchanges. I had them on ledgers. I had them in in
Oh embarrassed wallets.
And one of the things that I found is if they were in wallets if they were in my in my cold wallet on the ledger or in in exchange that I wasn't earning any rewards and coming from the proof of work mining area I just felt I deserve
Rewards and I reserve the airdrops. And so I was really upset at a couple of exchanges that weren't passing on.
Number one the rewards because they're using our capital on their exchanges to delegate and state towards nodes that they're hosting either
And they're just doing good cash management to then do the dispersement to their users when they pulled on and so they weren't passing any of those rewards on
To any of the,
Their customers or account holders if you will for lack of a better name and the wallets they're just sitting in your wallets not earning anything you do get the airdrops in the wallets but you don't get the airdrops if they're on a centralized exchange and so I just felt
Man and if you try and do it yourself particularly in the earlier
Blockchains. It's really cumbersome to get it set up., you have to be a developer. You have to know how to use command line into faces.
In order to set up a wallet have a designated a wallet that receives the wall awards and you then need to maintain a.
Node and ensure up time and all of that so that you are receiving the rewards and minimize lashing how do we get easy,
How come anybody participate in that and everybody I talk to we're really interested in getting the rewards
From a blockchain on the one hand and at the same time also being able to collect to be reminded of all the airdrops right if you're on the cosmos chain juno
Just did a download an airdrop to all Adam,
Stakers. So, if you're a securing the cosmos blockchain and you have your Adam tokens in stakes with a validator on the cosmos chain you received free,
Add juno tokens one to one so for every item you'd take you receive an equivalent one and I think they're trading now $10 each so it could be a significant amount of,
Funding that you would receive., the other one that just came out today, a Ryan got money. If you had your coins staked.
On a on the terror blockchain your lunas you would have received Orion dot money tokens
They weren't as valuable but still you receive those rewards. How do you get notified of that opportunity? Number one and then number two is how do you get.
Air dropped that reward so you actually do receive it for the work that your steak is providing.
Until that was sort of the Genesis I wanted to make sure users receive that and were considered for their contributions to securing the network,
And not just held with the centralized exchanges and it would be easy for people to participate in.
I think this is a fantastic reminder about the importance of South Cost City. And I think a lot of people especially who are new to the space they join the space through some sort of fiat unrand,
Through some sort of centralized exchange that's where they keep majority of their of their funds and they kind of trust those exchanges but they forget they get it really,
They miss out of a lot of these airdrops and those air drops can be a really significant amount of money.
And especially in the early days when we when we experience like changed it so change ports.
Hey Facebook a lot of people a lot of people were able to get significant amount of money by cashing out their DCH or BSC
Just because they held BTC from early days.
And I think there's a lot of exchanges in the space that did not even give you back your,
The DCH video will be VSB. I mean, regardless of there are different opinions that on this coins that people might have in this room.
But I personally know a lot if I BTC Maxis I'm not one myself but I know of you that,
That is still very happy about their what they pretty much cashed out and the decision that they sold,
. , no, that's exactly a point, right? So, at that fork and that was really
To be honest that was one of the genesis is behind the concept behind trusted note was there was the fork BCH BTC BCH right so that happened and then there was this and
BTC Maxis whether they liked it or not they got a nice bag of BCH's
They sold it at the peak which was I think about $3000 at the time so they all made a significant amount of money from that fork
And the ones that held on still have a whole bunch of bags and put a second fork which was the BCH to BCHA fork that happened,
I think it was last year and to me that was the genesis of the idea which was really.
Some of the exchanges where I had my BCH on.
Didn't pass that airdrop or that coin onto me and that's when I really got frustrated and upset.
And I think I did tweet a number of times as to which exchanges they were and but some of the exchanges were really good fast agile,
And they took their the time stamps as to when how much you owned and then they gave you that air drop.
if you could send them easy motivation or got a few inspiration for for a project when you run into a problem and then you need to solve it yourself you don't see anyone else sorting it so you know sooner or later so it's always gonna do this so you might as well be you.
So, when you were starting, I trusted no, right? Did you already have like a set of partners, statue, working with, or did you have to like go out and hire or combination of both.
I feel like day oh what do you have team look like.
Today oh I mean obviously you know when you just having the idea at the beginning you generally don't have partners but you like to validate an idea right so
I went out to a couple of peers and just pinged them on the idea., what do you think of of, network validation?, it's the sort of evolving
I was questioning a couple of things, right? The emergence approve of state networks versus proof of work, networks, number one, write the rewards, how do the road scheme work, and improve the state network?
Would people be interested in such a service and.
As a result when talking to people in the industry you automatically get into a slightly technical discussion
And so technical solutions were required and you work through those and that sort of then mutates into the back of a napkin and sort of designs you're in a coffee shop,
You're at a bar. You're in a whiteboard.
And etcetera and so that then sort of became a more of AA flashed out picture that went into a bit of a.
I put it down into a presentation., sort of maybe 510, slides, what this could look like, pain point, usual sort of 10, 10 questions or 10 slides.
And and then sort of had a sort of commercial partner that I was talking to then met,
A very much like minded technology individual Robin
Who we had a length theory conversation about more grand or philosopical standpoint and then we mapped out what's such an architecture might look like.
Then found another partner over in Bali.
Who love this concept and was extremely defy savvy.
And then you just sort of cluster. You build clusters. Your range calls. You then pull together. You flesh the idea out further. You push the needle.
You then identify what's needed in order to make this happen what is the MVP the minimum viable product that you need who are the type of people that you want to bring on to the team to make that happen,
And I was very fortunate to actually also being the CEO of Bitcoin.com. So had an extensive network in terms of
Super strong skills in terms of execution, delivery, rolling up your sleeves, moving at crypto speed
And so that sort of what pull together a great marketing talent a good commercial operational expert
Alongside a technical and my skill and myself and then you compliment the skills that you have,
With smarter people around you and I think that was the sort of key aspect to things.
What would you say you mean core specialty is the technical side is a business side marketing side maybe gonna compliance.
So I'm super useless because I'm a bit of everything. I have the ability. I think my strength is really the ability to see how old these wedges fit together.
That's my strength really. I I have and to have a very good sense of where the direction and the industries going. So those two elements to me,
I really where I think my strength is and,
And I needed skill sets to take my technology skills much deeper to really help translate
Hey marketing vision really well so it resonates
With the right kind of audience and demographic to be able to make sure that all the we've got all the necessary and appropriate documentation and funding available
To fund and power the movements that we are creating in this direction. How many people you guys right now
So, at the moment, we're about, I think in total, maybe 12 people, 12 15 people that trusted node, and then we've got another same amount that are working on different projects associated or
Linked to trusted note everyone's decentralized premature right now,
pretty much I'd say we're 60% centralized and then I take 40% of us are actually maybe 40% actually less in Hong Kong.
How do you how do you find I think it's an interesting combination because there are a lot of companies that I notice either fully remote,
And there was like a minority of companies that are like located in specific location. Do you find any and they're very few companies that are mixed? I I have to say. Do you find like it's.
Any challenging or what are the kind of maintenance.
Obstacles while having part of getting remote and part of your team being in one location do you have any specific processes to kinda foster the communication between the members of your team.
I mean it's it's definitely challenging right I mean working remote teams know bad about it right especially timezones is is just a simple challenge that you have to address culturally there's another challenge there's
Delivery, documentation, communication, all of those reflect challenges.
But I mean I one thing I was really lucky I was.
I don't know if it lucky or not but I I worked most of my career as a remote.
Individual contributor or manager anyway I never worked or,
Very little time of my career did I spend in a headquarter per se and so I was always remote I always knew and understood
How difficult it was particularly if you were working in a larger organization and I did work at some micro systems for 7 years of my career,
And I spent most of that remote and I was responsible for
Our corporate development in our mobile business and really glowing Alberto machine on all these mobile handset manufacturers but we had customers that were global right so you had to deal with
Korean handset manufacturers Taiwanese, Chinese, European, Scandinavian, American,
And so you were constantly traveling between those markets. So number one, number two is I never I didn't live.
In the, at corporate headquarters and so, as a result, I got very accustomed to waking up at 8 hours. Having,
Making sure that everybody understood. Hey, guys. I am on the other end of the call. Your speaker sucks. You cannot hear me and I cannot hear you. You're in a meeting room where you have a group of people in a meeting room and
You're you can't hear what anybody's saying.
You don't hit that this was sort of nobody had a Skype account set up with a video transmitting at the time as soon as that was possible all of those things made it really difficult and so
We have an office in in Hong Kong so we are a partially a centralized team and at the same time I make it a super important with everybody's in a hot
Hot desk. There's no desks here. Lots of meeting rooms, TV screens everywhere, super good speaker set so that everybody can hear, wirelessly connected, screens are running all the time. When we had our listing yesterday, we had four screens going.
Teams were looping in on those screens they were seeing us we were seeing them,
They were speaking and it went across the whole office. So, everybody could hear them. So, really felt like they're a part of the team and included.
In the momentum especially if they're remote and not in the same office
Or one guy was in Fukuyoka the other guy was up in Seoul somebody else was in San Diego and then somebody else was in Khan in France so
How do you facilitate for that and how do you bring that culture together somebody was in Holland and then in Bali we had people so we had everybody from everywhere,
It was just exciting to to go through that and bring that together. That's.
And the only way you do that is really, , we have, we have weekly
All hands every time it's it's sacrificed some people have to get up really early in the morning some people have to stay up really late at night,
And we rotate sort of every 2 months between those sort of time zones and those equations so that everybody does meet everybody and when there's a new joint member joining.
I I put them flat out on the spot and they have to introduce themselves.
, this is really cool. I think a lot of people are getting a glimpse into what it's like to be working in a in a crypto company. In 2021, because I think a lot of people are in my stood being there in the copper jobs or might be, in traditional tech.
And look it's Friday night it's 11 o'clock at night you're not out in the bars having fun you're on a call you've got your team members there you're launching a new feature they need an update,
Because it's there Friday morning wherever they are right and so you're dealing with that all the time and ,
Time zone is definitely something that no one no one prepares you for in in college or in high school. And some something that people need to be aware and be ready to work with if they wanna be working full time in encrypto.
Cool. So, like, as he, as you scaled, I would like to like know more and I'm sure people are here would love to know more about your hiring process and how do you make.
Hiring decisions. Do you have a specific process and what are the things crashes that he typically ask? When you interviewing.
I don't know, you always taught in school or at university or in college, this is how you have to go. You have to ask these people through these rigorous questions sets and, one hand, I've found that.
A couple of different things over my career, right? So, this is this is a sort of more an experience that.
People that have a consistent desire to learn a really important.
Right? So, that is one attribute. How do you find that attribute out and how do you dig into that, right? Oh, that.
I call it ABL, right? It's always be learning, right? If we're not learning anymore, then,
We're not pushing our mindsets. We're not evolving as a society or as a human individual. So that was always one aspect. Execution is really important, right? If you say you get something done.
We have to be able to rely on each other particularly for a remote that you're going to pick it up and get it done,
Even better if you preempt it we have a quick chat,
You then pick up on that idea and the next day you come back and you've already done the idea and you've converted into a quick power point for discussion
To further elaborate on or deep deeper into and flash out some of the details those are elements that are I think particularly in crypto.
In startup land or crucial and hyper important and as a result I found that
And I don't mean any dish harm to doing an NBA or anything but people that have come from sort of very top tier universities have done an NBA and executed through that and worked at large companies from their some of their career
Have not been the best candidates in that mind. They've always wanted a team of people to do the work for them.
Have always tried to analyze a lot of the steps before entering into it as a risk mitigation process.
And I feel at least in crypto land it's so important to move fast,
We know that the I mean just a simple example the price of a token can go up.
Really quickly and if you miss that day you've missed out maybe 1 year of opportunity.
And if we don't execute and deliver on a trend we may miss
That whole new trend, right? Defy NFTs, defy two, dials, right? All of those, etcetera.
Encryptoland represent significant opportunities that in some cases you don't always know the answers and we're experimenting,
So how do we make an aggregate as much information given the time slots that we have.
As quick as we possibly can to then be able to execute and make a decision based on that limited information.
At that point in time and hopefully we make the best decision at that time with that limited amount of information but it's the decision making that really counts
And you're not always going to have all your basis covered.
When you make that decision now that doesn't answer the interview question but those are characteristics that I feel.
Really need highlighting in in a crypto area and that's what I tried to extract in an interview.
Okay. , I mean, that is really good and important to know that I switched to everyone who's trying to break into the industry that they really need to be hands on and it's.
Strategy sessions is something. I mean, is it, I mean, they've been there important as well but they have oh value. If you cannot execute on them or if you expect to delegate to someone else.
You're willing to be a feel of full stack whether you definitely go online technical full stock marketing full stock finance full stock developer.
Do you have any favorite interview questions that you used to find out the right person.
I mean one of my favorite questions is knowing where people want to be in 612 months.
Specific or 60. Interesting. You should be able to ask like, oh, where are you planning to be in 5 years? But you're asking 6 to 12 months. Okay.
I mean my view is crypto land is 1 day in crypto land is 7 days anywhere else so if I ask you 1 year that's already 7 years so it's like it's simple as that and so I think,
In 6 months, our landscape changes so much. At least today still, right? And so, as a result,
How fast do you wanna move? Where do you wanna be in 6 months? And if you're new to crypto.
What what do you want to have out of crypto from 6 months time because if you're new to crypto
You're still trying to learn about all the things going on and where would you like to be in 6 months because by that time you're gonna be fully immersed you're being paid in crypto your your your having to
Hey figure out how to convert your money from crypto into fiat and then
You have to make your the bills pay your electricity bill you still today unfortunately still have to pay in fiat how do you manage that whole process you are seeing and being confronted with new token opportunities
That you're you're talking about trading on a day-to-day basis with your peer-to-peer colleagues
Where do you wanna be in 6 months what does that mean for you that kind of environment that you're gonna be in,
On how do you handle that and that's what I try to add extract in that simple question.
Do you have any like in three questions where you try to figure out whether the person is,
Really long term interested in crypto or is it someone who's just can I heard about it?
I'd be quiet and crypto and other altcoins just yesterday and is they're not even sure when they one dedicate their life to it. Do you have any like any tricky questions that,
Where you can try to figure that out. I I,
Yes and no I guess you sort of hear that if you tell me that I just wanna buy some bitcoin or it's a cool industry to be in it's like you know you're not gonna come into crypto because it's cool right you've got to be wanting to
Really go deep into crypto and I mean ultimately it also comes down a bit to culture.
What are your cultural preferences? Why are you interested in crypto? Is it because just to make money?
Then I don't think that's gonna keep you in here in the long run because gifs to make money we go through upturns and downturns and the downturns can be significant right so there's a.
A large element of volatility you have to be more you know sustainability you have to be sustainable to the volatility that we experience.
And as a result I feel.
We're also in in in juris illegally it's not always very clear cut.
So when we're engaging in certain environments and building new models it's not always clearly define the legal framework that we can play in and the markets we can operate in and,
At the same time we're competing not only against the incumbent.
We're also competing against the regulator who is partially the incumbent as well.
So, as a result, you need certain characteristics that are slightly nonviolent, disruptors or nonviolent revolutionaries and that you need to
That needs to come out a bit as well, right? So, you want to change the order and it's not around.
Necessarily fighting the existing reality. It's around building something new. What's that new model? And how does this new model make the existing model obsolete,
And that's what we are pursuing.
I still think I have a few more questions around. This is definitely great answers.
I'm I mean you've been around for quite a long time and you've got a met a lot of people in the space and people who you know short term long term do you see any like do you have any pet peeves that you really.
Share what people do or say that is really like a red flag to you that okay this person is.
I'm not gonna make it or they're not necessarily the fit for for crypto or for your team in particular.
so so number one if you're a developer and you don't have a good hub account
That's definitely a bit worrying, right? And so that's it. That's a red flag. If you're a designer, I don't have a figma account or you don't, you don't have any of the Adobe accounts that are out there or,
Any of the cloud services then that's another red flag I'd say.
If you're a U incoming figma would be more for you X if you're a UX designer and you don't know how to use Figma if you don't know how to use a mirror board,
As a business developer to explain if you don't know how to use Google's sheets and Google slides you know those are all sort of.
Tools that in a distributed decentralized world you have to be able to use you have to feel super comfortable working with
Because that's the only way you can communicate in a decentralized fashion and you can express.
Your experience. So there are a lot of and I'm sure in this room as well. A lot of people who are not yet full time in crypto.
And, they may be just started trading. They're trying to like, ape into different, liquidity pools, a cocaines,
But I didn't realize that okay they actually wanna do something more just than just like huddling or trading for mums and kind of your your requirements for different roles in the kids but do you have any of them more specific tips for someone who is
I really passionate about the space but they're not exactly sure how to get in.
And how to stand out among all the other applicants that are playing to to work for you for example.
So 111 question I did forget to ask this but at one question I do ask all the time is.
We we pay everybody in crypto 100% in crypto. You willing to accept your full salary encrypto.
And it doesn't necessarily need to be, the token that we are building and stuff like that. It can also be a stable coin.
So it can be bitcoin cash it can be you know a solid coin but are you willing,
To accept 100% of for your time and your effort and your work. Crypto. And I think that's a core question. If you,
Are not encrypto yet have you tried using a.
Non custodia wallet. Do you have a meta mask? Have you downloaded a wallet?
Have you I think those are questions you need to have you use the Kepler do you know if Phantom wallet you know all of you know sort of terror station,
Have you done anything in you know using,
A collateral vault. Have you done any lending, any staking, any farming, I think those would all help.
In building out a bit of experience that you can provide and make you stand out in an interview.
Because the design elements on using these features the experience in terms of being able to how many sign you need to sign off you need to click those are all critical elements in anything you're doing in crypto unless,
You're working for a centralized exchange unless you're working for a legal required custodian unless you're working for a professional
Other people, manager, other people, money,
Manager of funds then I think then you don't necessarily need to do all of that because you're under as totally different.
Legal requirements but if you're in crypto and I view crypto is being 40 non custodial and learning how to use the blockchain as the custody those are things that you really need.
I think these are like the points that I would also recommend a lot of people are just too interact with.
With the chain directly instead of just keeping all the coins and acids on on an exchange. Just download it. We'll start in tracking and surprising amount of people.
Who whole group they don't even do that they don't sell custody they do not know how to get started and they're I think a lot of people are afraid of,
Significant fees that in can be involved and that process really depends which chain you're on,
Hey buddy I think there was like a whole whole spectrum of what he can be used what he can use today and I think there is no excuse,
Not to be able to like don't go to wallets starting tracking with the defy and the NFT platforms and I can transferring assets.
Open and just as you said Ramon I mean like but nowadays right I mean how do you find I mean it's like I feel that,
Today you've got Ethereum you've got you know that's there maybe you pay high gas fees and Bitcoin you know really has become sort of pretty much the the,
A goal. So we don't really move much around in terms of bitcoin. But you move a lot around in Ethereum and then you realize you're paying $100 gas fee or whatever.
But nowadays, you have terror, you have, salana, you have,
Avalanche you have Phantom right all these other networks where the moving of funds has become a lot easier there are newer wallets out there with newer technologies that make it a lot more user friendly.
So hopefully that experimentation that playing around,
Is really important versus paying $200000 a year to go to a big university I think that's gonna get you much further and help you on a path of creating personal wealth.
Far greater than than anything else would do is my view,
In 10%. Moving on to the I think next important question. Who will you guys hiring right now?
So we hire generally in in three categories really.
It's it's sort of where we spend most about effort. One is developers, right? Software engineers, devaps, solidity developers, defi experienced,
, architects, blockchain architects. Those I say are is one sort of bucket of resources that we look for. Really, developers with the fights,
Experience and blockchain experience.
So that's the number one. . Number one. The number two bucket is really usability. User experience, right? So how do I find a great ability to convert
Whatever we're working on into a nice design, right? So that people can navigate.
And taking into account the defy trends
The decentralized generation who are using these products and then ultimately the underlying technology and what is needed to be able to click through and use
Those technologies. So that sort of the next bucket. Use ability and the design associated with usability.
Lastly it sort of the marketing and distribution and in marketing and distribution it's really.
You know how to communicate? How to grow communities? How to build in social media? Twitter, medium, YouTube, , read it
Those are all critical elements in terms of interactive telegram community interacting and communicating with a community the community is the life and blood of every product
That we build out in crypto land how do i build and connect and sustain a relationship
With decentralized online in some cases anonymous pseudonymous or even
Educated individuals right that is a critical element and as a part of that also distribution I need to make sure
That I plant my product in terms of, from a business development perspective with the right partners. I have the right connections. I know where to go if I need to do a cross bridge solution. I need to know who to talk to.
If I need some sort of custodial partnership.
I need to know who to talk to to get listed on a specific exchange. What forms to fill out? Where do I go to get a grant
From AAAA foundation
On a blockchain et cetera and so those are all things that ultimately automated but there are still anonymous pseudonyms or
That or or visual people on each of the other ends of these products how do I interact with them and connect with them from a business development standpoint that is sort of the third bucket marketing and business development.
Okay so and what was the best way for people to apply shall they just DM young guys on Twitter.
. Go to Trusted Note.IO. S Russ 99. Tweet me anytime. You can reach me out on Telegram with that with that handle,
That works as well and and on our LinkedIn page,
All of those sites are available where you can reach out to me us,
I think Jake's on the call or you go to trusted node underscore IO that's our original.
Twitter handle and we will respond on there,
and I believe you guys still have a few job ads live on crypto jobs as well. That's a useful way to apply.
Hey crypto crypto jobs list so there you go.
I mean I mean the other day for me and for us like what do we wanna see is.
More companies expanding in the space and I just don't really care how they apply as long as you guys are successful and,
The space grows and you help push the space forward.
Hey Facebook number one you help target,
And create discovery in an industry that has been banned upon,
Locked into a reddit you know sort of black room on the dark web,
You started and created you know you created new ground by creating a jobs list for everybody in crypto land where it was targeted it was focused it was open and.
I mean Google, Facebook, they all banned. Everything crypto in 2017, right? And now all of us are no, we love Twitter, we all love crypto now, but,
In the hard times when it was tough they weren't there to support us they count out and what does that mean when it gets hard again
They're likely to do exactly the same. So, how loyal are they gonna be? And I much prefer to be loyal to people that are committed.
And a true believers in seeing the opportunity that crypto presents and that's why I think what you're doing Rama is this fantastic right and we need more of what you're doing as well.
He appreciate it. Huge thanks. , indeed. I do remember in 20 in 2018.
Add google direct a lot of crypto related sites yep we were a part of that batch of smalls we saw that significant decrease in traffic.
But , it was, it was very, very depressing like in addition to the drop off the price, but you also seedrop it in the
In the number of tracking you're getting just because Google decides not to like you and I believe like CCN or some other related crypto related publication which is the Gwinnard or completely.
Went out of business. Went out to the kids. . Just because of the Google update and the same one for the.
For the YouTube, sorry, not YouTube but for the Facebook ads. Hey, Facebook ads, right? I mean, Twitter, Facebook, YouTube, I mean they ban us all from an advertising platform and.
, it's like, I remember the traffic is dropped to ground. I mean, came to grinding halts, right? It's like you're driving at 300 mi an hour with your page views and your interaction and
You hit a hard brick wall and come to an immediate stop.
And all of a sudden you need to reconfigure recompile reset all your benchmarks in terms of numbers metrics,
Sources of way you find traffic and you then have to dig deep to really be creative and find new sources and new.
Traffic and audience. , well, we're we're hoping to have a bit more decentralized platforms where we can connect.
For sure the Twitter so far has been alright I think they haven't made any
I mean they did AA few mistakes I feel they recently banned like some major bitcoin contributor for his views on COVID,
And I hope this this group doesn't get banned just because it just mentioned the word. Oh no.
Alright just waiting to see how this over the years but I mean partially why we set up was you know sent I mean a bitcoin was originally set up as censorship resistant immutable right and
And I think overtime we have.
Yo. Maybe we got a custom too or, we still need to remember that we are still about censorship resist. You should be able to say the C word or you should be able to express your opinions.
Whether there you know politically correct or not but I think
Yo, we need the conversation between different parties. It's so important that we can have an open
Conversation because conversation allows for interaction interaction creates a understanding or not understanding amongst each other but it's still facilitates the truths.
And a honest.
Situation of where we are and where frustrations may lie or not and how we decompress or alleviate some of the pressure associated with where the frustrations are.
And mitigate any kind of violence I mean you know that's that's really why I feel.
This censorship resistance the immunity you say something it should be out there and it should always be out there,
And, I can take, I can apologize for it. I can say I was wrong and but we must also forgive, right? And.
I feel those are important elements to our society on a global planet where we are today.
, 100% agree with you. I think there is a way too much sensorship going on in past several years. We've seen the consequences of that.
. . I think one of one of the one of the things that he mentioned is about how crypto's been based on like a lot of fine line. I'm just contributors. I think like a controversial question. Would you would you hire
Someone is who is completely fanony if someone can knock on your door or how would you handle that situation.
So the January don't knock on the door but they were they would knock on my telegram. And yes I would hire somebody anonymous. If they can get the job done yes I would definitely hire them anonymously.
Cool. . It's just like so far. Our previous guests were.
Coronavirus reasons but it's it's super cool. This is what we're here for. I can tell you I I I have,
. I'm working with anonymous participants right now. Right. , this is amazing.
Amazing. Do you think we should we should open up two questions? I think we have two people queued up. Have a request to speak. Love. Is there any questions that I have to ask that I probably should ask you before we open up to the to Q&A?
No I think you've asked a lot of the questions and if you if they do come to mind again.
Yo, bring, bring them up, but I mean, for me, , happy to facilitate questions from
the people, the participants in this gym, this chat group. So, , super cool. Awesome. Awesome. Awesome. Alright. So, thanks so much once again. Okay, we're gonna start accepting
Requests to speak, alright? Twitter doesn't make it very easy to kind of sort who, when, who is first, but on my list, I think it's Sherry and then.
Dushant Kumar and then Satolyn's thinking that or that they requested forgive me if he wasn't the rural order but okay let's go. Hello Sherry's connecting.
Hello. Hello, everybody. It's lovely conversation to listen to. I'm Sherry and I'm part of the Bitcoin volunteer as part of the
Bitcoin cash group and when you guys were talking about sentenceship I'm like yes you're very right we should have free discussions and all that so
Good points. The thing I was going to ask you I guess in Bitcoin cash will be focusing on making everything easy. Use a friendly from a bit
Perspective or new people coming into the market and you were talking about all the things that you wanna focus on and I'm wondering how much market research do you guys do like
Do you actually survey people coming into the market or people who aren't in the market yet to try and get an understanding of,
How they feel about jumping in and what sort of user experience they want.
Really good question. I mean, it's like.
And so I spend a lot of time at bitcoin and trying to get newbies into crypto land and sort of entice them and.
I've I've spent in mobile I got I remember spending a lot of time trying to educate people about the opportunity that mobile presents as well.
And I sort of come to the conclusion that for newer audiences and newer demographic or or existing you know one of the toys oh I want my mother to use crypto and it's like.
I want my father to use crypto or whatever the
I just feel we decided to take a different approach based on my track record of trying to convince enterprise institutions and
Nine, it's like,
Non at least mobile bops to come into mobile world and take that experience into crypto where this time around I'm saying,
I just wanna focus on what I call we call here degens and I don't mean the degenerates I mean that these centralites generation.
And the decentralized generation in my view is,
We've broken down the market segment into 500 million people worldwide based on what you read on binance and queen base and decentralized exchanges own crypto
And if 500
1 million people own crypto how many of those are really deed you know decentralized generation and we believe that to be maybe only
10 to 20 million people and those 10 to 20 million people are sitting on a net acid value
Of 20% in crypto. So that means they own of everything they own 20% is roughly encrypto.
And we think that over the next 3 years because of the yield generating opportunities in crypto land because of the,
Airdrops that you're going to receive and the I call it UBI for lack of a better name but because of that UBI that you get encrypto land that.
, demographic is gonna grow 30, 40 X, and we're gonna hit maybe 70500000000 of people in decentralized generation,
Where are they gonna come from they're gonna come from what we call,
High five right people already in hybrid finance so the people that are using a Celsius network people that are using blockfi that already are seeing.
I'm getting a 6% reward for my ease.
But oh man, over there, I get, a 30% APY on my or I get, I get free airdrops over there. How do I go over there? And there the ones that are gonna come in,
And I think it's gonna be more participants that are on revolute you know the next generation the Robin Hoods that are really trying to
Breakthrough and really go deep into crypto land and find these rewards and these new wealth generating opportunities that's how we broken it down do we read research from a price water house or deloyed or it earns the young
No way, right? I think they're so out of touch.
They're gonna build something that they're customers wanna see EG banks EG insurance companies EG industrial providers or supply chain companies so it's gonna be so irrelevant for what we are trying to achieve
In decentra-land or that sort of really why we're excited about that.
Can I understand that because in Australia I don't know if you've heard Commonwealth Bank that the biggest bank in Australia is trying
Crypto trading with its customers but there's you can't withdraw you can't do anything with your crypto trade it
But there are no other incentives so I guess what I'm saying is like we do need to research how to not research throughout the corporations.
But I guess with your own company you know what draws people in in the senses they already doing that so you answered my question thank you.
Awesome. Thanks for the question Sharon. Alright, next up Dushant. If I'm pronouncing any incorrectly.
Shadows it's correct it's the.
So lots of poisons I see on October country background that is from technical background right.
So, how I can get jobs on this mountain? Basically, I have a 2 years of experience in.
Regarding customer relations and all now I am working for a cutter based company.
It's a completely remote work as a manager I am working here.
And what do you do work sorry I didn't understand what what are you working on today you have 2 years experience in doing and what are you doing for the company now.
Basically plastic experiences in insurance field. Okay. Regarding customer relations.
, I mean, customer relations. Okay. I mean, I don't know what you want to do and your background, but I do think that.
If you want to enter into crypto I mean one of the industries you know I would look at if you have industrial experience in insurance and how to deal with customer support.
You know a lot of crypto companies need customer support and are looking for this customer support type of work.
, perfect. I mean, you can go, I mean,
You just go to a number of sites do they have AAA intercom do they use zen desk what solutions are they using or oh desk or anything and you can go immediately I learned a first desk.
you know Facebook .
, so how do you help these crypto companies? One thing again, I sort of come back to the point that we talked about earlier.
Learn how to use some of these crypto sites so you then can understand what they lack,
basically I'm using right now lots of quick text in news like was he extra baby and.
Or quarantine DCX. I just support requirements, right?
They're asking for help and support and if it's not on crypto job list where there's a whole section of,
People for support., I would, I would start there and really take a look at it. Right now, I'm talking recently I talked with relationship manager in BBNS exchange.
There are expanding the customer care team.
But the thing is they going to have a.
Facials not expensive person oh okay they want new people they don't wanna experience people.
I think I just wanted to come back here it's an amazing question and I think for someone with your background and customer support that role is definitely in demand in crypto
You either just can head out to 2 hour site to group the job list or even go directly to.
The kind of larger meat scale companies they usually need quite a lot of support like even even we internally we have a person who's helping us out with like I even do it right now myself,
a lot of, especially exchanges. Even more so it changes.
They need help replying to customers explaining how the product works explaining what happens if they sent the funds on like lyric to solution versus on May net,
Or what's the difference if someone sent a funds on like different force of bitcoin and what's gonna happen to those funds so definitely,
People eh with your background are needed in the market and just be very
Clear when you're applying to companies that you're customer support professional and you would wanna hub them out and make sure you do have all the relevant,
Knowledge and experience working with as many blockchains as possible and make sure to have kind of experience the problems that people are experiencing and apply successfully to companies.
Just knowing this company they also going to launch its own cryptocurrency.
So we're promoting it's a basic coin launch.
Hey I think I think the question is getting hold of the topic.
Don't focus only on one company go to many right don't get your hands paint yo don't get pinned down on one,
There are so many crypto companies. Focus on multiple. Some people will have younger people. They want it. Some people want experience. Don't get pinned on one,
Company in one opportunity. Crypto land is beautiful because it's online. Everything's digital and you can move from opportunity to opportunity based on the choices. It's about.
You choose you make the choice and you go in and you have the choice so,
You know we're all about making available the right to choose and so that's my advice to you.
Once again. A ride. We next up is Satoshi, Satosha Lance.
Hello thank you for I've just created my company cuz it was pretty difficult to me to found job in the crypto world,
I'm from France so I speak I'm a native French speaker but I used to live in in New York City and thank you
First and I totally agree about what you say about the crypto world I think we're living
A big big change and a new paradigm is coming and my goal.
I tried to found a job in the crypto world cuz my goal is to the thing is 300 million people speak French all around the world.
And the thing is few people few French speaker speak and understand English.
So the goal of my company or if I can found a job is to translate all the contents in English.
To like that's more people more people who speak French.
Will be able to integrate the crypto world. So I would like to know something. Is it difficult?
Will it be sorry difficult?
To to work with a company and tell to the company okay a lot of people speak French these people don't understand and speak English you should have,
Customer support in France in French sorry you should translate all of your website in French.
You should bring and build French community for example of they think that English,
It should be the main language and there's there is nothing we can do about it.
That's it. That's a very interesting question. So, I'll answer that in a in a bit of a roundabout way.
Number one is I my co-founder is French Monte Leeds developer is French
Okay my product manager for Trusted Note is French. Okay. Okay. Number one. They all speak English and they love.
To speak English. In fact, one of them, I won't say which one. Wants to not have an ink, a French accent, that's his prime objective, right?
that's my goal too. Of course. So great.
And the other so so I don't think you know crypto the beauty is borders don't matter,
Language doesn't matter as long as we can communicate with each other.
When it comes to acquiring users to use the product the more French users I have and I need to build an interface in French to support those French juices because they're uncomfortable in
Writing comments in in English then I will do that right but.
It is the market demands that will drive a conversation and will influence my allocation of resources towards a specific language or a specific technology or
, I was specific geography. So, that's what I would've.
Say to that okay and I wanna give a little anecdote right and this was back in 2017 and I know some of the people in this audience will know what I'm talking about but,
There was one blockchain that launched in 2017 went live.
And they had developers from around the world right and they were a core lead of developers that were 50 of them around the world that were involved in accepting,
Or not accepting.
Sorry. Looks like Stephan's internet connection went down. Okay. Let's see.
Can I talk? , you go ahead. Let's wait for Stephen to come back but yes, definitely you can go ahead. Also, if you comment about about your question.
And the thing is lot of people speak French and don't speak and understand English and I think,
This is what I'm praying to build with my company. I want to create.
Create sorry a mirror of company in French.
I'd like a telegram group, Twitter, internet website, video,
Translate all the contents cuz what I see is I I have a lot of friends.
They don't speak English. It's pretty difficult for them to speak English and understand English. So.
So they want to invest in crypto but when they seek a blockchain scallopability all this.
All these terms of these words it's like it's like a.
How to say that it's like the they don't want to invest cuz it's too complicated for them. It's like it's like.
There are if there is.
You were you afraid about why you can't understand and that's what they're leaving that yep,
Not chief Stephan is back with us Stephanie York currently muted so you can meet yourself if you wanted to comment.
I think we can hear you. Stephen. Maybe not.
Nothing's coming out.
, I can just command it in the meantime while Stephan is reconnecting. I think there's a bit of a feedback from your speaker.
Anyway so if I would say that there was definitely a lot of value in in translating content and international other languages especially.
Like I know a lot of exchanges they have these initiatives where they basically,
A higher someone in a specific geography or country and then they will like a contract ambassador and that they will let them run a community telegram channel in their native language so I do actually have a friend who's also,
Part of crypto jobs community who is in Netherlands and he helps out with okay X community there and it's like he leverages his native language and he helps kinda boost trap the community there,
And answer a lot of questions in in his native language and I think the same thing goes with with French and to my personal knowledge they require a lot of.
People in in French community like no ledger is a French company you probably one of the most known French crypto company out there there is exclify wallet and,
Start up crypto startup space in in France is pretty big even crippled the job this week if you're like
Do internationalization as well and I think naturally if we finally added French language and art but that's something that we can accept.
Can I open source contributions to internationalization so I think there is a there are legs to your idea.
And kind of just translating as much confidence as possible and getting more people from France into crypto.
Stephanie over that building? . . I don't know. Sorry about that guys. I don't know what happened. I just went silent Mike but anyway back again.
Jack Dorse is making evil experience today. Twice. Yes. We will remember that. 10 10 to build decentralized tourist spaces.
Hi did you have any more comments to this second I know it's just it was to me that was a real fascinating moment when that would launched and what that meant and instead of how to.
just what that meant that how cosmopolitan the world has become and what that meant in terms of different nationalities and what languages people are going to be using to communicate with each other.
Who alright let's do we have a few more speakers Satoshi lands hope we answer their question.
Yes thank you that was feel free to just like tweet,
As a reply to this to this thread so we can maybe comment in a tweets alright next stop is Doctor Stonks very lovely.
Twitter recover. Thank you. Thank you. Now I've gotta.
Kind of I apologize it's been asked earlier in the space I did join light but I saw the name of the space and I was like oh this is quite interesting to me because.
Since, just following, really in love with everything Dfive just from, my personal use, not working in the space or anything. I have been really motivated to,
Find a Korean art
in this kind of area but coming from coming from what I do in restaurant management
it's there's like there's not many transferable skills there and.
I'm kind of looking at my my avenues do I put everything down for.
2 years and learn how to code or like what I guess what what is a what is an entry level foot in the door into this this sector
I mean, what do you have? Do you like coating? Do you like being behind a computer screen? Like.
I have I have very little experience of it but it is something that I am really interested in.
, I mean, maybe one way is to take a course, right? And, and, and, and sort of get a feel for it, if this is something you want to do.
I mean, in order to get into crypto, you don't necessarily need to go the route of of a coder. I mean, it also the obviously is super cool. If you do that, there's a huge demand for engineering resources particularly experienced,
Solidity developers, people that know how to build and defy or that have experience in creating smart contracts. Let alone front end designers who know how to build the user experience for
Defy users, right? And so, there's a big demand there but you have to know if that's for you, right? You're gonna be spending.
a large, I mean, most of us encrypto land. We spend a lot of hours from our early mornings through late nights.
Pretty much every day working in crypto land. If you would like coding and you love the gratification that you know a compiled solution really works and.
then then that's definitely something for you. There's no better gratification.
Than working with open source code base forting that compiling an adjustment to that and then having that ordered and approved and seeing users ape into that
There's nothing more gratifying than that and so.
I would suggest, a mutual friend, there are lots of courses, tools to use,
The best online one I would recommend is check take a take a course at Morales,
And have a look at what they're offering. I've been on tech as as a great solution tool sets and lots of,
Video content that allows you to go remote and play around with a simple tool sets so check that out.
Hey Facebook but again outside of engineering and development.
I would I would disagree with you that you don't have any transferable skills. I think just being organized, that beating and getting things done is a very important job. .
Kind of general skill that not a lot of people have even though they think they do. And there are a lot of a lot of opportunities for someone who's non-technical.
Anywhere from marketing, writing contents, creating me. Oh . Just organizing a project. Organizing, even even Twitter spaces, right? Organizing Tweeter spaces, organizing.
Podcast sessions creating content. There's a lot, a lot, a lot of work done. That is need to be done outside of engineering. So, and again, like, you need to decide whether engineering something you wanna like invest.
Yourself in because it's, the entry bar might be a bit higher. But again, give it a try. Maybe it's not as hard for you as other people's other people say.
But , just figure out what you wanna do and definitely there are a lot of opportunities on both camps technical and non-technical.
And I would just add to that to the rumor it's just like really it's super important to be able copywriting is another area that I could not mention in being able to translate this complexity of,
What defy means into super simple five lines with an image,
Is is really really important and the skill set that is really hard to find in this industry.
. That's that's great. Thank you guys so much. I really appreciate it.
Cool. Thanks so much. Doctor Stonks. Vignesh I think had something to say. He has his hand raised for quite some time. You know hat I mean or something? Hey Stephan so.
I heard like you said you are comfortable with,
Hiring anonymous and this kind of like comes from like another person we kind of interviewed a few weeks ago.
Had like a very valid point like he said it is very hard to kind of like have a real sense of accountability when it comes to hiring an aunt so like how do you kind of manage that.
I mean how do I manage hiring anons I mean reputation really matters right so if you're an anonymous.
it's like either you've been recommended through somebody. Or you can give me another Anon as a reference.
Or you we've had experience working on a small project together and if you I did not have any recommendation I did not have any background on you,
I would start on something really small or
You're sharing with me your gid hub repo and your kid hub is rock solid and you've contributed in hundreds of different codes. You've got lots of reviews. You've got 27, 27 thousand commits or whatever it might be. Then, you're a rock star.
And to me, you was a rock star. I don't really care about your background. I care about your execution and your delivery.
And I will look at that as a counterpart and if you have none of that you're just new and you want to stay in on.
Maybe we start on something really small I'll take a tiny little project and we'll test that out.
And if that is good then we'll figure out how we can scale that if it's not so good then we'll we'll go a separate ways but that might be those would be all different angles that I would consider as an anonym.
So I would answer. Hope that answered the question. Alright. Awesome. I think next up we have MP.
Hey good good day guys first of all thank you for holding spaces like this it's very useful for newcomers to the industry like us the question I had was I
one of the things that I found in this industry is the, the growth of those. How do you see that going and how do you see the,
Is there a place where both those and like for example I want to you know work for for some NGOs but it's very hard to search and filter and and
To the write down or select the write down is there a is there a match that can happen towards where we can find these things through job or maybe it already is and I don't know about it.
, I know. It's like, I mean, if you wanna work at a, I mean, I think the Dows are the future, right? And so, we've set up all our companies as foundations and then created the Dow,
As a result out of it and our next project is a full dow. We have no incorporation anywhere, nothing.
And if I were looking to get a job in Dow
Hey there's nothing posted on on crypto jobs list I would go to you know look at Aragon who's got something going on Aragon who are the companies on there who are the companies on Molock Dow,
Who are the companies you know.
In in what's it snapshot in boardroom right those are all tools that people use that want to build a dowel,
And if you're an NGO I'm an adviser to two dolls one is company called Haifa Hifa Dao,
Or do DHO they call themselves a decent size human organization but Hifa which is a part of the seeds group.
And join seeds.com. So have a look at that. There are NGO, they're looking at,
More sort of impact related projects, and so that might be another opportunity, but my first place to go would be
Aragon snapshot boardroom and then maybe more lockdown or some of the I can't remember what the name is. Something rather but if you do Google search, dial ranking or something like that, you'll you'll see,
You see something there. Oh, thank you. Actually, another thing I wanna share for any newcomers out there.
It's become so easy. I could be able to able to open my own dial onput that's on near protocol. So, anybody, I'm I'm I'm 40 years old.
So anybody who's there in this call thinking that this is complicated I think things are becoming easier and again guidance from people like you groups like this is very helpful so thank you again.
, so reach out to me. Send me your your contacts. You seem to have gone way deeper than I have. I didn't know about splitting down. So, I'm gonna check that out. Definitely, thank you very much, Stephan. I will send you a message. Thank you. Thank you very much. Thank you.
Amazing. Hooray. This is a great question. Pete, thanks so much. I think we have Sachin next.
Hey an audible yes we can hear you.
So just wanted to ask like how do you think is like with the gas fees being so high.
Do you think we'll be able to move from say buy a transfer so easily? Because the gas fees is taking a few chunk of sacriptoes like everyone holding.
Coins and stuff and then pushing out so much gas fees into the system.
Today that makes me wonder like it feel gonna like if people are gonna actually move away from via transport.
So I just did a video post on Gaspies and look I'm I loved Ethereum and I still love Ethereum for what they have done and how they've created.
All of this innovation and this smart contract I'm just a bit upset that the gas fees are so high for every little transaction and I was just talking to somebody this morning there,
Predator on gas fee is now excess of what they pay in food.
Per month. Is an excessive what they pay in rent per month. So when you're gas fees are higher than your food and your rent then then something's not quite right.
But it's still the hub of all inflation. Innovation, sorry, not inflation. Of innovation. And so that's one thing that speaks to Ethereum.
Nonetheless you have projects like mere protocol you have salon you have binance smart chain you have polygone you have ZK sink that's just about to launch you have arbitram you have
Your avalanche you have terror all of these other networks are setting themselves up and building out their presence and their communities as their communities grow,
Bear fees today are still super low so you can do a lot of transactions you can do all the trades and you have all the big exchanges like Ave like sushi you know sushi the whole sushi group
All of them are now available on multiple chains as well so you get their whole communities coming and moving across the chain so the gas fees today.
Our going to be a problem of yesterday and tomorrow we're gonna be back to an environment where
We have super low gas fees and if you remember that was sort of the main reason why Bitcoin cash and Bitcoin core forked the gas fees on Bitcoin core were just super high and super slow that resulted in
Bigger block discussion which led to Bitcoin cash ultimately that allows for extremely fast transactions faster than you can hit go and then number two
Amazingly low cost next to free.
So if you're caring about peer-to-peer transfers and permitences, there's a solution for you. Amongst all the other capabilities and smart contracts that are available on all different platforms.
. Just a reminder that just remind that you know the future is probably gonna be multi-chain and all these speed and low fees they're always coming across.
Come at cost of just reservation. So, I think that's an important thing to to remember for some people who moving, seven, eight,
10 digits of value on the chain they would rather perfume they don't mind spending $100 to move that value knowing that they cannot be that transaction cannot be reversed.
And they're okay paying slightly higher fees on on Ethereum.
Or, actually between chain, you can, you can move a lot of money for like two sets per bite, which is literally less than a dollar, and I think the times are gone. I think with you, with the segway,
And now with taproot if he's gonna go even lower.
But , there are bunch of other nephews out there that you can use to transfer things cheaply. And , an experiment with them.
I think you just like a.
Trade off that he needs to realize. I think for small amounts of money, for like several $1000, there is no harm using something that is much cheaper like, Salana, BCH, Tron, you can kind of be a C by Nasmay et cetera.
But you kinda understand why why that is happening why the fees on my slower and why certain trajections are faster.
Cheers thanks. Cool. Thanks so much for the question. MP had a full question I believe and then we have Moonstar,
So just just a quick thing I wanted to share with the previous caller from my recent experiences the near protocol has like.
The fees are so low that you can't even account for them and I found the same
With cello protocol it's very easy ah you know my mom can use it so we are getting there so if you wanna try it please give this protocol a try and hopefully you'll enjoy them I noticed that there was a bridge that was built,
That that launch on near yesterday with EVM so that's also very exciting.
Hey mom is so
Up to date with attack. We wanna your whole family on board. Thank you., one of the things that I I make it a point that I have 11 year old son and my mom is 65. I show all the apps to them.
And if it makes sense then I will put some money into it and if it doesn't make sense then no point right?
That's an interesting filter. Are your kids playing at or other playering games? My son is trying out two different games right now.
But they are not launch yet. So, we are playing around with that. Actually, we have a we played actually doesn't like it. So, other thing like 11 year old kids have different preferences.
There you go. Short access. I I like actually personally.
Alright did we have any more questions from the audience? I think someone was asking to be asking microphone.
Request any more questions. How are you feeling Stephen? Shall we give it another 10, 2030, minutes? Shall we wrap it up faster than that.
Stephan no I don't know sorry I don't have any shall we keep going I mean shall we keep going.
I mean if I could I'm happy to take maybe one or two more questions and then I think we can wrap it on.
Fajitas. Alright. Okay, 10 more minutes and then we'll be for today.
Alright, Fahita's connecting. The heat is online. There you go.
Hey how are you? I had a question to Stephan. What are you most excited about Tinote?
That's a good question. , I I just love the fact that it's I'm in the liquid staking really.
Gets me excited and what I like about that is my base capital,
Can stay locked up earning rewards and I can end use that base capital without touching it as a.
You know synthetic token associated with that to confirm I have that and use that in defy.
And so I can leverage that base capital to still pay my day to day expenses and grow my wealth with my liquid token.
That's really what gets me excited. And providing that opportunity to everybody that has coins in all these different projects.
Brilliant. Cool. Thanks for the question I hit. I think next up is Yakubu. I think should be our last question.
thank you for your opportunity and also want to appreciate you guys for doing a good thing here.
My question is this I have a background in finance and I'm thinking of going into research in the defy and crypto space.
So I'm just wondering if you guys can just point me on where the best I can.
I can best approach this maybe if you can point me with to some of the best tools that I can use to do research on the crypto space.
Thank you. Good question.
, I mean, where can you go to do?
I mean it's there's so much online right I mean we mentioned a number of tools and resources where you can learn.
. I would suggest if I may add . There is going gecko. I think those resources are probably kind of the first go to place.
To get new projects and their prize and a bunch of links to those projects,
As well as if you wanna go into more like on chain analytics you should check out doing analytics or Nancy,
Nancy has a prepared product generally it says a free a tear and then a premium offering as well,
There was a bunch of you can use the odd
Blocking stores themselves directly., there's block share, there is ether scan, there's a premature blockchain store for every single chain out there. . So, kind of using those tools and being very proficient with them is a super valuable skill and
You will have to use those tools sooner or later in your research what else is there.
I mean you you look I mean you've mentioned them all right I mean you've got your trading tools that you need right and you've got your.
Sort of treasury management tools and then you've got your own chain research tools, right? And so,
Nonsense, sort of a great tool to look at on chain activity into the block is a great source of information. You've got more research type tools like Masari and,
There's another example and then you've got, your your you can go to even if you want early stage companies. What are the next companies coming up? You go to like the IDO platform.
Arms, right? Launch pads, you look at poker starter, you look at trust swap, you look at miso, and then you see all these different, and then, , so there's so many different sources of information.
And if the thing is once you go in it's a rabbit hole and then you're you're you're you're stumble across one to the next but you just gotta start somewhere.
I think there's these these tools will be a good start and then you will find even more things to look into exactly.
Okay thank you very much I don't one last question I just want to find out if you guys will make this the recording of this.
This station available so that I actually joined in late so maybe I could just go ride.
Yes, fantastic. , we do have can I please say these recordings into the podcast? And you can look for it. It's called work in crypto.
And we have the links to that, to these recordings on our website, and on Twitter as well. So, make sure just to follow us and we'll we'll tweet it sooner or later. Or just like search for working crypto but crypto jobs list on one of your favorite podcasting app.
Awesome thank you.
Who? Okay. Okay. I promise you guys. I promise that the one last question from J 30. He looks like a sophisticated did Jen. So I cannot say no to that.
Alright I'm I'm adding it sir was why you not adding.
There we go. Connecting. There we go.
Take a photo right now.
Give Yakubo a tip so when I was starting out when I wanted to learn about the fight I came across a book by.
How to be fried by for beginners they are two books one for beginners one for.
An advanced version so you can try to get that ant,
Use that to get into learning the basics of different learning about the five and second tip is,
To just try to use the five platforms try to get on trusted mode use it panic swap use it unisex use it
The different D five platforms that we have using them and interacting with them is actually the easiest way to understand what is actually going on,
In if I can check out if I learn some if I dashboards generally so that's that too onto my question now I want this question is for Stephan.
I Stephan hey nice to meet you. Okay. So my question is.
Is trusted note building for.
Easier adoption for people that are not quite familiar with using,
The five platforms okay so let me let me direct my question this way so I realized that many people don't know to interact with the five platforms usually have to learn them learn how to use them I remember by trying to get my first,
Coin that hasn't been listed on any centralized exchange and I have to use YouTube tutorial videos to actually.
Run through the entire process and although I wasn't even understanding what was going on that was sometime back already anyways so I just wanted to ask you trusted on this being attention to,
The lack of let me just say.
Divide platforms are not quite into it for people that cannot familiar with so it's trusted not trying to build for people to that have not quite adopted this blockchain technology that I just kind of mute it.
I mean it's it's not really I mean we're trying to make it really easy for people to one two steak,
On various blockchains so you're sitting on specific coins you already have cryptocurrencies they may be on essentialized exchange.
We wanna make it really easy to migrate it from a centralized exchange into.
Into yield opportunities, right? But you have to know, in order to interact with trust and note, you have to know how to use a decentralized non-costodial wallet.
If you don't you cannot stake because everything we do is non custodial you control your keys you control your coins and we have built a staking option for you to earn rewards in a non custodial fashion.
and so you have to know how to use a Keppler wallet. You have to know how to use a MetaMask. You have to know how to use a terrace station. Etcetera and so
That is definitely a important factor when working with Trusted Node.
Okay, thank you very much. Thanks so much for the question. Alright, I think that we will go ready getting wrapping up. Hopefully, we went over.
Overtime significantly. Sorry Shari. I think thanks so much for your question earlier.
I think we have to wrap this up. Thanks so much. Stephan once again for coming on and for those who missed the beginning we'll we'll have recording hopefully. If the of the Jack from Twitter you know
Shows his grace in us and provides me recording,
guys don't forget the trusted number is hiring they're looking for social media lead.
Graphic designers to make use ability of defy and their product easier as well and technical writers and technical talents as well.