NEAR Town Hall November 2020: The evolution of NEAR Protocol and its Ecosystem

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:03

   hey everybody welcome to the second near town hall i'm super pumped that you whatever time zone you're in you get to join us here uh so we're going to take a few minutes just to let people filter in uh if you're wondering what you can do in this five minute time period i highly encourage you to drop over to near ai slash swag drop that's near dot ai swag drop uh we're gonna be giving away some of the new swag even i don't have it this is one of the old shirts you can get a fresher shirt than the one i'm wearing

2. 0:37

   and also arguably of equal importance there's a poll right now which is how sexy is my hair i don't know who created it i can't even guess uh you know but it would be great if you guys want to go vote on that uh it would be nice to see i see three votes it looks like victor's curls are tied with mine so far um so yeah go ahead and vote on that and sign up for the swag drop once you guys sign up i can show you what's going to happen i'll go through

3. 1:08

   and i will randomly assign oh wait let me see here view giveaway oh sorry pick winners yeah so this is what you guys are gonna see you can uh submit a lot of different things to increase the number of votes and then uh yeah in about two minutes i will pick winners here it's random so you know i'm not doing any sketchy stuff this is what you auto pick and then announce them here so yeah

4. 1:34

   hi everyone oh yeah wait i gotta change my background i'm sorry guys oh well it's fine this is this is good for now um and then while we're uh while we're just hanging out i think i can cover a couple of things that we're going to talk about in this early early time i'll just put up the agenda so you guys know what you've got in store here so pretty straightforward you're going to be hearing from a lot of folks over at near you're going

5. 2:07

   to hear first from i think ilya and alex or yeah ellie and alex are going to join me we're going to talk through essentially where the community's been where near has been up until this point and then uh we're gonna take like a quick break between that and then eric troutman the head of the near foundation the ceo of the near foundation he's gonna talk about where we are now where the near community is um briefly there's gonna be a few links by the way if you uh just just some

6. 2:37

   little like not math what do you call it there you go uh up in wait am i pointing in the right direction the one of the corners bottom top right just look around there's going to be links showing up highly recommend typing them in i know they're not copy and pastable but those will take you to right now for example the swag drop but later there will be links to like the community contribution stuff

7. 3:00

   um it's up there right now it's up there so yeah keep an eye out for those links okay i am going to pick a winner so hopefully you guys got a chance to join the swag drop i see a few people did here we go all right let's do this auto pick okay cool marin p you're our first winner we will reach out to you about how to claim your prize and i'm not going to say that every single time basically how this works i'll announce who this is marin p you're the first winner um you guys will

8. 3:39

   get either an email whatever information you give in the thing will reach out via that to tell you how to get your prize and sunk it at second winner congratulations belma g you are the third winner uh mess cuckoo what is your hop-in name answer this question kieran kieran mesquita hopefully i'm saying that right you are our fourth winner and our final winner the last person to receive the swaggiest of near swag mikko all right um

9. 4:15

   congratulations guys uh you'll get links to our store and uh just so you guys know the first announcement of the day this store is going live today you can actually purchase near swag with near tokens on this website the link will go out i'll drop it in the discord afterwards uh someone will maybe drop it in the chat over the time no guarantees on that second one but you'll definitely see it in the discord so make sure to join near.chat for the

10. 4:39

    discord congratulations to the winners i think it is about time for us to get started so i'll pull

11. 6:26

    hello everyone hi everyone good to be here it's uh amelia and alex is with me and we're going to start by introducing where near has been and kind of how we got there so the origin story of nir which some of you may know is started where in 2018 uh when alex and i were working on a project and ai project and we were uh kind of thinking how to evolve it and we actually wanted to build something like what git coin

12. 7:05

    uh has been thinking as well back in 1819 around uh paying people in the world for doing some of the work uh except our platform specifically had uh very small tasks where people would uh fill in like some kind of some code for text text for code and get paid for it uh and we were we were getting people from china russia ukraine poland and like eastern european countries to participate in this so we thought of blockchain as kind of a great place to

13. 7:39

    solve our own issues right we had the issues paying people because china and russia and ukraine all have kind of different capital control issues so we started by kind of using ethereum and alex actually because it was 2018 he even wrote a white paper back then about this idea and we kind of as we were exploring this idea we realized that even for simple use case right we had i don't know about like 100 people 100 active users uh

14. 8:13

    and they would be you know send doing a task maybe every minute and we would pay pay them i don't know like 30 cents per task or something like that um like even for that we would be ending up paying more in transaction fees and you know sometimes we pay them uh itself right which really didn't make any sense so kind of that that like led us to the first exploration where it's like you know scalability really matters because scalability is what gives you the

15. 8:44

    this like this capacity to really you know solve your problem but the other problem is right is that we're not alone on the blockchain right there's a lot of other applications running as well so even if one application can fit right there's you know tons of other applications that you know need to compete for the for the space yeah and that was only one that's just one use case right but i think in uh in at its full and complete potential

16. 9:16

    blockchain will enable majority of the financial monetary transactions that happen in the world and it has capacity to do significantly more uh decentralized organizations open web uh ownership economy uh they will all operate they will all be enabled by blockchain they will all operate in a borderless fashion with uh uh being completely community-driven without uh anyone having control over them uh

17. 9:40

    and uh in in that future uh they give uh blockchain will enable developers uh to build in a way where they can use work of each other they can monetize directly with their users uh musicians and artists will for them it will be significantly easier to uh to monitor their work with uh directly with their audience and this is already happening if you've been on our previous town hall you've seen mint base showcasing application the building on year that allows artists today to sell their work directly to their

18. 10:11

    users which is its future happening right now and in the world in which creators can easily monetize their work with their community where community can freely support the creators innovation and creativity will flourish many many new business models many many new modes of operations will uh will appear and this is the future we want to build uh we're not when we build near we're

19. 10:38

    not thinking about creating a platform on which existing use cases can be scaled to hundreds of hundreds of thousands of users uh we're thinking of the platform which will enable this decentralized internet of value for the decades to come at the planetary scale and so with that uh let's see where we are where we've been uh where are we going uh ilya take it away yeah so uh kind of the origin right it started with like our own pain and then as we were learning more as we're figuring out more

20. 11:09

    it expanded into this bigger vision right to really power the open vap and really power the applications around the world and to build that right one of the core needs were to solve scalability we really believe that i mean having background and building distributed systems before in big companies we really believe that sharding is the only way to to approach this so we we got together a team of uh pretty much friends who were kind of all

21. 11:43

    of us knew each other through some kind of competitive programming participation and everyone had experience building building such systems charted systems google facebook memsql and so we started uh the interesting thing happened actually later that year uh in east san francisco we we participated in hackathon we kind of were part of ethereum community uh really try to you know solve some of the interesting challenges there

22. 12:14

    uh actually we're building a bridge between eth and edc to be specific and it was actually super painful just like some of the people did not have ethereum setups just like this ethereum developer tooling setup some of people you know weren't familiar with sounds like quirk of ethereum and so the team in general were like pretty disenfranchised was a whole developer it's not just about scalability it's actually about the whole experience there is uh kind of a lot of components

23. 12:52

    that go into experience but uh you know the ability for developers to really quickly go from you know zero to their idea to to be kind of deliver it to the uh to their users ability for user to actually being able to use it right like they need to make sure that the stuff like the developers need to make sure the users are able to understand and and use it without needing to learn a lot and at the end right

24. 13:18

    kind of scalability is what you know makes the costs and and and and even for developers right if you need to like if you build your prototype it works but then you need to go figure out a off-chain solution or some other architecture to deliver your product uh just really you know hinders your developer experience at the end so uh so that's when we really kind of evolved and since then been building kind of this trying to integrate the

25. 13:44

    full stack of of tools across user developer and scalability so here we have kind of how we went from this idea right to launching so the launch actually spanned uh from you know april to october and the first thing was uh in the kind of beginning of the year in april we have released our mainnet proof of authority version right the restricted version and it was really because we wanted to deliver something for developers

26. 14:16

    and start getting feedback for from developers specifically so uh we had kind of as a as next iteration we had kind of a open open sale uh happened in summer uh we brought coin list uh twice um which was a lot of uh a lot of pain obviously for for a lot of people and i really apologize for that um but uh obviously brought a lot of new new people new supporters and hopefully new uh contributors who will be excited to build new things so september 24th is where we

27. 14:57

    transitioned into a mainnet which is run completely by validators right so we uh near foundation specifically removed its nodes and and uh really uh turned on the like you know the full network and that actually triggered a so-called transfer vote which really unlocked transfers and you know made the network fully community driven so you know that happens on october 13th uh the first part september 31st was you know fine but there was some surprises given it was a fully community driven vote

28. 15:30

    uh and you know near's launch this is really exciting this has been you know over 20 how many 20s uh 27 months for for us building this so really excited and um really really excited for all the hard work that you know everybody in the community did uh especially validators and uh contributors but also kind of this upcoming range of guilts so i want to introduce eric ceo of near

29. 16:05

    foundation he will talk us through the where kind of near is right now and like some introduce some of the things that that's already been around

30. 17:18

    hey everyone my name's eric troutman as ilya mentioned i'm the ceo of the near foundation and i i really just want to i mean you sort of heard what got us to where we are today um the question that i'm here to answer is basically where is where is here uh what what actually is near um and so i think i think the first place to start is actually what unites everybody um so you know near is a blockchain there's a platform and there's an ecosystem but what actually ties all of that

31. 17:42

    together i think is the important part and that's where the purpose comes in um so so our purpose overall is to enable community driven innovation to benefit people around the world uh which is which is kind of a long way of saying we help builders make stuff and we help to distribute or we try to help them distribute that stuff that's that's fundamentally our job uh and and the tool that we have at our disposal is near um specifically linear platform so if you look here uh you can see uh so

32. 18:08

    basically near i mean you could describe it as a blockchain but it's more than a blockchain you could describe it as a platform it's actually more than a platform it's actually an entire ecosystem but let's start with actually the blockchain part because i think uh maybe not everybody's quite on exactly the same page about what exactly that is and so specifically near is a fundamentally reimagined layer 1 blockchain it is not a side chain it is not a dap it is not a layer 2 it

33. 18:32

    is a full block chain that runs its own independent consensus with its own independent security and the benefits of actually reinventing that blockchain of starting from the ground up is that as lady mentioned as alex mentioned with this dual min uh with this dual mandate that we have uh to focus on one hand on scalability and the other hand on usability uh the only way to actually address that is really to start from the ground up and so that may be obvious on the

34. 18:56

    scalability side because of course on the blockchain level that's that's the only place that you can implement sharding and sharding really is the only way to to properly scale linearly and you know sort of theoretically infinitely although obviously there are some practical considerations along the way um to to achieve the kind of load that we need to achieve if we're going to achieve if we're going to create a billion scale platform i think that's pretty obvious and charting is what unlocks

35. 19:21

    significantly cheaper uh transactions than ethereum uh one second blockchain block times um and stable fees but but it also actually um not the sharding specifically but the changes that we were able to make on the blockchain level also bubble up on the usability side and that i think is actually one of the underappreciated aspects of pulling one of these platforms together is is how the usability that's experienced by the developers at the top of the stack

36. 19:44

    is driven by some of the decisions that are made at the bottom of the stack on the blockchain level and so for us specifically for near that that actually comes from the account model where there's a lot of flexibility built in where basically pretty much everything is treated as a contract um so if you're a developer that means you can do all sorts of really interesting stuff

37. 20:00

    as opposed to kind of the very rigid account model that you get in ethereum uh with this one because accounts are contracts you can do things like you can hide the blockchain from end users uh you can uh you basically uh one one of the one of the key aspects of that is um well actually one of the key features is we've actually baked in so that developers can actually earn back some of the fees that are created through the gas that's burned by their their contracts

38. 20:25

    um and so you know obviously gas is one of the major problems on ethereum um so we wanted to make sure that if if we are going to be a developer first platform a builder first platform uh really that's that's where that comes from um so uh yeah so so we start with the blockchain we kind of bubble up uh the middle layer here is really all the financial infrastructure um a lot of everybody's heard of defy at this point they're they're sort of

39. 20:48

    you know let's call it a half a dozen components in d5 that are that are particularly important and and that need to kind of get packaged together to form the substrate on which you can build all the rest of the developer tooling and ultimately the developers can build the apps that are going to touch their end users and in the middle there we have a trustless bridge to ethereum that's

40. 21:04

    that's coming out uh you'll hear about the roadmap for that you'll hear about the roadmap for sharding but fundamentally i just wanted to communicate that the blockchain is really just one piece it's it's a full package of components developer tools and all of that kind of unites to achieve not just the scalability that you hear about when saying somebody's you know banging the hammer on sharding but also there's a lot of really interesting stuff on the usability side that bubbles up from that

41. 21:27

    so the question also if we're going to talk about where we are here is uh what what what actually launched um because you know throughout this ecosystem different protocols have launched in very different ways and with very different things so if you go to the next slide you'll see you know for us as lily mentioned it was handed off to mainnet uh sorry the mainnet was handed off to an independent set of validators the token holders voted to unlock transfers and staking rewards have been

42. 21:51

    enabled what that means if you go to the next slide is mainnet is full featured and production ready it is it the smart contract platform is live it's running builders can build apps on top of it they can transfer tokens between each other and they have the tooling that they need to make this happen um definitely because this sort of this iceberg has been built from the ground up from under the water all the way up to the surface and we're kind of just peeking above the surface

43. 22:15

    there's definitely still a lot of improvements that can be made on the tooling side uh but ultimately you know we this is a live platform and that's really cool that's that's one of the most exciting pieces of having this town hall right now is because this is the first time since we've been live um so what does that mean if you if you go to the next slide uh we have some stats so the chain is is live it's been producing blocks since genesis but since um you know obviously

44. 22:40

    things really started ticking off uh when when we had all the unlocked votes and things like that and you can see that the chart behind this is actually the chart of cumulative account creation uh since uh since early september and so we have we have 12 thousand accounts we have seven and a half thousand contracts deployed and we've had over 175 thousand transactions on the network and obviously you know if if you go back to the contract model

45. 23:03

    um pretty much everything's a contract on your you know accounts and things like that lock ups uh so that's obviously why you know contracts are so high but that's one of the things that makes this great and so it's really cool to see that to see that trend of people really starting to get engaged and starting to build cool stuff um so if you go down uh one of one of the cool parts about being live is of course uh you can participate in the network so this is this is a network it's a proof-of-stake network uh so that means if you hold

46. 23:27

    tokens um you could just hold the tokens you could use the tokens in an app or you could stake the tokens and and so basically uh validators are paid through the inflation from the network that's part of the security model but you as a token holder can then delegate those tokens to a validator and then you you actually get to earn some of that yield as well and the cool thing about that is especially during the early phases of the network

47. 23:51

    because it depends on the total amount of stake that's actually being staked at any particular time right now it's actually a very healthy time to go out there and stake your tokens and as part of this whole ecosystem we have had a lot of people come in and build really helpful tools for this so i mean you can see some on the slides uh dokia zavadil we have we have a bunch of different wallets who have integrated with us and are supporting the staking

48. 24:14

    infrastructure which has been a really cool thing to see um and again on the wallet side if you go forward i i just wanted to communicate also that like you know this isn't this isn't just a single a single you know in the middle ecosystem right i mean this is this is a full panoply of of different people who have you know who might be building on us integrating with near um you know and and doing things that we don't even know uh who might not even be on this slide

49. 24:39

    um but it is it's a full team effort now zooming in uh you know what is the foundation i think that's always healthy and important to ask so the foundation is actually a swiss-based non-profit so basically our job is to support the coordination of kind of gathering things together so like the town hall it's it's about allocation of resources it's about making sure that everybody in the token older ecosystem and beyond

50. 25:02

    the builder ecosystem uh the validator ecosystem everybody has a sufficient voice in in this the network itself uh through governance and ultimately you know that the network achieves stability because of that and actually it can it can grow and it can grow efficiently as opposed to sort of stagnating like you sometimes see with these protocols after they've launched um so if you go uh to one more slide so i just want to point out that on the website because there are actually

51. 25:26

    several apps that have that have been launched on near or are very close to being launched on on mainnet you can see some of the case studies some of the reasons why they got started you know everyone came from a different place many of them have experimented with ethereum before have been used you have been using other networks as well so if you go to near.org and you kind of scroll down you can actually read through some of these case studies and you can see you know you don't have to hear it from us it's it's sort of why did the community form around this

52. 25:51

    and what was their decision-making process so you know i'll leave this to you guys to take from here um and as far as the handoff uh the next step is is really i mean you know now that you kind of see what is near the question is okay so where do we go from here so i'll hand things off to alex s who's who's gonna be able to talk about charting and you'll hear all sorts of cool stuff going forward

53. 26:13

    so thanks a lot guys you okay so let's talk about the road map we started near in august 2018 today is october 2020 it took us 26 months all in

54. 27:21

    all from inception and killed launch and for the system of this complexity this is very fast so as we were launching we were not comfortable to ship sharding right away so mainnet today does not operate with multiple shots it operates with one however sharding is built in uh there has been a community operated network called guildnet that has been running since summer with a good success we are presently uh making sure that sharding is production ready uh the plan

55. 27:52

    uh the roadmap for sharding is to enable it on betanet which is our network for uh uh operated in decentralized fashion where we test the features in january 2021 uh once it is on beta net from beta to mainnet uh we have no control it's going to be uh happening through the governance where the community decides that it is time to enable sharding uh charging allows us to scale linearly today on a single chart we can execute around 1000 transactions per second give or take a little less if it's smart contract calls between 500

56. 28:25

    uh to slightly higher numbers so sharding will allow us to scale that multiplied by number of shards we will initially launch with eight then through community governance we will be able to go to 16 to 32 uh and beyond so let's see how it unfolds uh and as we as we're shipping sharding uh and building the the future of uh uh of the uh open web and ownership economy we need to cross the uh the chasm so let's let's hear from elia how we're gonna be doing that

57. 28:58

    awesome thanks alex and so sharding obviously is a very important piece which is as i mentioned like cr critical for actually bringing a lot of applications and making them successful but uh if we switch next slide uh kind of one of the crit as a critical piece for any blockchain is um really having assets and being able to um operate inside the economy right uh like we are targeting you know general use cases we are targeting uh usage you know by creators by

58. 29:36

    developers by everyone and all of them at the end need the financial system underneath so ethereum right now obviously has the strongest financial system in the in the ecosystem in the crypto world and creating a bridge to ethereum right creating a connection and ability to transfer things is critical to to enable this so we actually started a while ago and anton who'll be talking later uh was a pretty much kind of designer of this novel

59. 30:07

    across blockchain protocol and the idea was you know to connect those two blockchains in a totally permissionless way create this link that you know will exist and will continue existing and will be governed pretty much by the same way that these protocols are governed so the development and original testnet launch happened in august uh we had a hackathon in september october which we will hear about as well and so right now with kind of phase three what we call which

60. 30:40

    is uh cleaning up getting all the feedbacks that we've heard from the hackathon and releasing private beta uh later this month uh so pr if you want to participate in private beta on mainnet uh reach out to us and uh there'll be kind of a way to participate in it and really uh start transacting on mainnet and obviously post that as we kind of make sure that everything is correct and secure uh the 1.0 version will be released to really enable everyone

61. 31:11

    to permission to transact next slide so kind of that like rainbow bridge right is a critical piece which allows us to to uh bring in assets but uh there's actually a interesting problem that uh that exists right that as we launched there's a lot of uh kind of apps and tooling that would be great to have a near right day one and this tooling and apps will take you know some time to build sometime to you know make sure they're robust make sure you know people cannot steal money you can still

62. 31:50

    uh assets or break them and there's been a new kind of ecosystem of ethereum applications with the vm uh that are already battle tested that are already uh working and a lot of developers really just like to kind of build on top of them build on double's existing code so near originally right designed has been built kind of with a very specific structure in mind with uh web assembly as a main thing but uh there's this interesting concept of so-called execution environments

63. 32:23

    or kind of parallel runtimes and so we are actually introducing a parallel runtime or execution environment uh for ethereum virtual machine to near right we have already started we uh we have uh kind of some original work done we're going to have a better net release this november so anybody who is interested in participating in this again reach out specifically to alex chefchenko here his telegram so this is the idea that on beta network

64. 32:52

    you will be able to deploy existing contracts use existing ethereum tooling and start kind of getting sounds features for near and then still interact with kind of regular near applications as well so this will obviously evolve into a full scope release so there's still some feature missing but also we expect those bugs we will have bug bounties by end of the year and then uh test net and

65. 33:18

    maintenance release as as mentioned right it's up to community to go from there next slide so this all kind of feeds into this idea that right to power open that to power those ideas of you know making sure that people can pay for things making sure that as a developer you can you know bootstrap a new application create new uh maybe like token economy around your uh your use case right you had they at the same time needs this financial layer needs is almost like financial infrastructure

66. 33:52

    powering blockchain right so there's actually a core set of primitives right of tools that are needed and we are kind of getting all of them uh one by one on on the near right so there's oracles we have chain link was announced in august uh stable coins uh you'll hear some challenges that there's automated micro makers again balancer wasn't us last week decentralized exchanges landing and also prediction markets risk management right all this together uh kind of combined into this like

67. 34:24

    stable set of of financial components that on top you can build your application oh yeah in prediction markets uh we have flux which if you were on a previous town hall uh has presented their uh kind of their application in the system and really trying to power like new wave of of uh people using prediction markets uh in the easy way right not you know not needing to figure out lots of things and create markets for anything right next slide

68. 34:56

    all right so uh just to mention the other thing right many of you might have used near wallet so near wallet right is web only wallet veneer it's open for everyone it's really good for kind of application users in the web and kind of early contributors it's just released taking like full staking support for unlocked and locked tokens next and just to give you like a quick peek into the roadmap for the world specifically right there's still a lot of kind of improvements in account management

69. 35:30

    uh there's this idea of about portfolio management right as there is more and more things that happen in your wallet like if you you know if you notice if you're using it there's you know lock-up contracts staking so all of this is separate contracts separate smart contracts no actually like no wall like metamask wallet and some of the wallets actually don't show you any of this information so it's really a portfolio management tool

70. 35:53

    at this point which allows you to see all those things and then obviously adding ethereum bridge support next slide and finally i want to mention governance forum so all of this you know development right it's happening across community for example evm bridge evm support actually started being built by suma by james passage and his team uh bridge started being by antonin there's actually a lot of interesting ideas and ecosystem tools that are missing which are being discussed on the forum there's a lot of improvements to the protocol

71. 36:27

    including like ideas about sharding ideas about staking and protocol development all of this is discussed on forum it's gov.nir.org please check it out register and participate i'm sure we can get a lot more kind of ideas and opinions into it to really make better decisions this way cool thanks and i'll i'll give it back to peter to you know keep jamming

72. 38:16

    so

73. 39:26

    do hi my name is today i'm gonna talk about building sharding decks on charlotte blockchain like near and uh to achieve truly unlimited transaction capacity in theory for sure so uh how things are going on regular blockchains which are non-sharded uh we can see that a lot of people interact with existing smart contracts and there is a bottleneck

74. 40:33

    not only blockchain is a bottleneck but smart contract also is a bottleneck uh if we would have charged blockchain but our smart contracts will not be sharded somehow we will still have the same bottleneck same users will try to achieve same smart contracts and that transaction will be imit to the same chart and it seems like a single chart of sharing blockchain will not be like much more efficient than single non-sharded blockchain

75. 41:05

    and i'm not sure anyone would chart your smart contracts for you same never happened to multi-core cpus once they appeared no software was sharded after magically all software developers do program this access to several threads to several cores and what we can do is to try to build a sharded smart contract architecture and uh i recently proposed one it was an example of sharded

76. 41:49

    token uh you can find more information under this qr code of sharded token example it's them of smart contracts which interacts to each other in peer-to-peer manner so each user have its own smart contract which holds a concrete asset and when some persons transfer it to each other these extensions interact in a peer-to-peer manner in like fully non-interactive manner and uh uh like the less intersections uh

77. 42:28

    here you can see the less bottlenecks will be uh like all four transfers you can see here uh can be executed in parallel on different threads uh so for the decks uh i'm proposing doing the same we can build uh some software which behaves as as an extension and build separate extension for for each user and we would allow uh our sharded decks to uh work in in several in the in the following mode uh so you you can allow your

78. 43:14

    your dex extension to spend some your token for example you are trying to sell token b you can do this with transaction or you can do this by providing signature which your extension will be able to recognize and then uh someone who want to buy your token b for token a if you agreed for the some concrete trade he can produce transaction to your dex extension and this dex extension would would interact with extensions of token

79. 43:47

    a token b of buyer and seller and this means that when someone swap they interact in a peer-to-peer manner this do not somehow touch any other users and this means that we can build a sharded decks with the almost unlimited transaction capacity for sure if one user from one wallet will try to interact with a huge number of other smart contracts it would not work uh you know like unlimited transaction capacity it would be limited to a

80. 44:28

    single smart contract single smart contract transaction capacity but i'm talking about possibility to shard logic of smart contracts to make them like work as unique peer user extensions and these extensions could be staked to the users possibly store it into single accounts of the users or they can be united logically connected connected to the user and this would allow to have a really unlimited transaction capacity

81. 45:06

    because if we would have for example a stable token like die on sharded blockchain we will still have a few hundred transactions per second if we would just port erc20 to sharded blockchain but if we would split logic of smart contracts logic and storage of smart contract by each user we will be able to achieve almost unlimited transaction capacity of token for example of decks of any any other smart connector not every

82. 45:40

    smart contract but a lot of different cases could be sharded so i tried to fit everything in five minutes hope it was useful okay

83. 48:05

    hey this is sasha so uh we just heard uh just now from anton just wanted to share quick context overall so anton was working on on the bridge at near before now his cto at one inch as you can see here uh super impressive project overall close to five billion in total volume um and doing really well so that was like really good we talked essentially about like what's possible in the future

84. 48:31

    uh and how to build charted taxes we can now spend some time talking about what's uh what will be possible in the most immediate future in the next couple months we can go to the next slide so for near overall we we're actually working very closely with 17 applications right now and they're going to be launching at different points in time in november december january and february some of them waiting for the breach some of them uh ready to launch and that's super

85. 48:59

    exciting for us we like pay a lot of attention on this and some of the uh selected launching apps that i wanted to mention are op games it's a b2b tournaments for casual games for mobile application mobile games there's also a social network for traders called yonder launching there is a p2p device marketplace for used phones where you can purchase the phone it's also launching called tessabi the platform there is fun engagement platform called artera that we'll be launching as well

86. 49:30

    with couple first esports teams live there'll be a game called hashrash launching very soon and some collaboration tools on the dow side of things such as abridged so those are some of the examples of the applications that will be launching soon um and overall like we we are actually putting emphasis now on on scaling the developer community so we've been doing a lot of things

87. 49:56

    kind of like that don't scale first so those initial 17 applications are being specifically supported by our internal team we have a lot of tribal knowledge that we are now spending a lot of time trying to actually scale out of and and and help uh teams within the community help us onboard more and more applications uh together and so we're starting to support production of educational content as well you can go to our youtube

88. 50:21

    and see some of the uh eugene's videos about how to create different contracts voting contracts sticking contracts many others and so that's very critical point for us to start unlocking things from like our own hats tribal knowledge into you know everyone in the community so everybody will know how to actually uh uh build on your successfully so we can go to the next one another important thing to mention what we do with the projects we are working together with

89. 50:52

    we building community around the projects and and trying to build support systems so we have uh some of the backers who work closely with us both in web 3 space and web 2 space we work with 100 plus professional investors across the globe so in asia europe and and us um and a lot of projects working with us actually can take advantage of this because it's very early in this ecosystem and i think that it's very very important just get

90. 51:18

    funding get initial traction things like that we also know hundreds of projects across the open webpacka system and so those are also people who have some knowledge and who share knowledge within each other and and you can also take advantage of this um network and the community we're also starting to have a core contributors network as well and also owc alumni the the first um the batch that was actually concluded uh earlier this year and we're also starting to work with

91. 51:48

    university blockchain groups as well and more on that will be in the future we're starting to invest more actually in educational initiatives as well as i mentioned we're unlocking things from our heads and making things more scalable uh on that front and education is a big piece there so some of the things that you probably already familiar on the near front are whiteboard series so we are continuing to do those most recent

92. 52:10

    examples that was lazy ledger and tbtc we're starting to do new initiatives such as near without the noise with the community we're starting to put some tutorials uh in terms of how to build first uh near application on youtube i think this is like probably the most important piece of content we we have now um we also starting to um create educational materials around how to write contracts properly

93. 52:35

    how account system works uh here's another video here in the bottom right that mike created over this weekend which is like really exciting and for people who are entrepreneurs and founders i also have a podcast and you can find it anywhere on the podcast platforms called building the open web so we essentially invest a lot in content and so what what near at the end of the day unlocks for builders

94. 52:58

    is very cheap transactions which enable new use cases so you can start doing identity metadata like reputation micro transactions are possible now but also ux is very very important kind of piece that we help with which allows builders to compete for mass market users for the first time in the blockchain industry so those are the two main things cheap transactions and and usability and so what you can build

95. 53:25

    and what i'm seeing uh what what people building is the short term there's a lot of things uh being built that that's already possible on ethereum and and uh some of the product market fit that we saw with amms lending stable coins nft marketplaces prediction markets transcoding services those are the things that people know are working and they're actively building similar use cases on here as well now over time as people cannot

96. 53:49

    understand the advantage i mentioned on the previous slide as it relates to chip transactions as it relates to usability you can start building truly consumer applications uh where content creators can actually get paid directly and and have this almost like digital cooperative you can also build web two applications where you can provide something from web3 that is not possible anywhere else which is ownership and so you can build

97. 54:14

    you know yoga video application where all of the yoga teachers the best ones are actually owners in the system so that's very important long term you you'll start seeing standardization models being built on top of near where there will be primitives like social graph and others that will be able to interoperate with other data models from applications such as you know blogging platform note-taking application and so forth

98. 54:37

    and that's very much like long term what's going to be happening and how we can support overall the community we think about it as a three stages so there are a lot of people who are coming to hackathons seed ideas their hackathons is a kind of breeding ground for experimentation but we do know that some of the best projects in space came from hackathons example is actually one inch um you know anton and sergey

99. 55:03

    built one inch initially in the initial version in uh new york hackathon if global um and and that is a huge business now so uh we definitely want to start see seeding those ideas for long-term markets in hackathons and through experimentation that's what we've been doing a lot uh recently there was um hacked the rainbow hackathon that recently happened and we're going to talk a little bit

100. 55:26

     about it later we're also starting to partner together on incubation and engage incubation of ideas with teams like git coin and their program called kernel and then for the projects that you have some initial signs of adoption we actually start to focus on accelerations of startups and that's where you're gonna see the video right after the slide that is actually kind of like putting in context what

101. 55:51

     open web collective specifically specifically does and that's it from my side owc is a global blockchain accelerator from promising pre-seed and seed stage startups to move the open web forward requires not only investments and tooling but the right resources to sustain and grow startups our accelerator is a 12-week program with up to 15 teams in a batch our teams work to validate or invalidate ideas

102. 56:56

     build products define and grow kpis develop product market fit and fundraise to our bachelor teams congratulations we are so proud of you and excited for all that you will do since we joined owc we've signed over 20 game developers we also have done a lot on the market expansion side we've pre-registered over 300 customers over the course of two weeks mostly in rural rwanda in a refugee camp during otherwc we were able to relaunch our product and it has so far signed up

103. 57:27

     500 users we signed two major esports organizations with over 30 000 collective fans our mailing list in the past couple of months grew to over 10 000 users are following in social media grew to several thousands you get to meet some of the best projects and some brilliant teams and i'm very happy to be part of their origin story and part of openweb collective i really think that

104. 57:54

     this program is really going to connect uh you know experienced entrepreneurs new entrepreneurs web 2 companies with blockchain technologies and i look forward to future batches we invite all of you to join us in our journey to move the open web forward join us join us join us so come and join us hello hello citizens of nervous this is nima uh you might have seen me around uh twitter or telegram sharing memes there are other nemos that ask for your ethereum addresses those are not me be careful so i'm going to talk to you a

105. 58:38

     little bit about our community efforts and because we have just a little bit of time left i'll combine what goals and hackers have been doing together um so you just heard that we've been running a couple of hackathons hack the rainbow was one and then a collaboration with east global i want to tell you something really interesting that happened which was more than one-third of our projects in these hackathons came from guilds whether gold skills could be different things there are groups of

106. 59:10

     people that come together and do awesome stuff sometimes they're related near directly sometimes indirectly so first off a couple of interesting stats from the hackathon we had over 400 participants 80 submissions came to us and we picked half of them as finalists we had over 20 judges that looked at these submissions and out of those we picked 26 winners so what's really interesting is that five out of the top seven

107. 59:41

     projects in the hackathon so we didn't break the system the judges gave them the scores five out of seven used the rainbow bridge in total it was 25 or one-fourths of the projects and then the most interesting part uh one-third of the winners either were from raid gold so our friends from meadow cartel or near's own guilds can we go to the next slide thank you so every town hall will try to

108. 1:00:12

     share some highlights from guilds in the near ecosystem this time we thought we should talk about crate base guild which is a gold that we're building around mint paste the project that you heard from them last time so basically this has been happening only for about six weeks the community is mostly made up of builders and creators in the nfd space can we go to the next one and these are some early results from

109. 1:00:42

     the community that we've we've been seeing in only six weeks or less than that even so we have three gold facilitators sparrow lenara and cairo co-founder of mint base we have over 80 members we really try to keep it small but the output has been amazing we already decided to give this skill because we have so many ideas five thousand dollars of budget per month and we've been looking at the first round of applications what's really interesting is already in

110. 1:01:14

     such a short time we had three winning teams coming out of this guild so what's really for me is interesting about guilds as support structure for hackathon projects generally adapts is that you usually build these projects and then you know until the next hackathon nothing happens but when they're born in these groups and guilds there's like a support structure around them so back to the kind of tagline of these slides it takes

111. 1:01:40

     a village to build a dap last thing that's really interesting is probably one of the first times in the crypto space a near foundation has officially invested in flamingo dao and flamingo dao is looking at planetary as one of their first batch of investments a project that came out of hacked rainbow um after this you will see a couple of demos from hacked rainbow hackathon and planetary is going to be one of them in our next town hall you will see

112. 1:02:12

     i think more than 10-15 demos from the hackathon and we hope to see you there we go to danny hello everyone i'm danny from the developer relations team here at nir i feel so energized seeing so many of you with us today some familiar faces and some new ones all building this new ecosystem together i came to near from the ethereum side and a phrase i'm used to hearing a lot is that everything is an experiment so i have to say that joining a new protocol community in an earlier stage has been really exciting and i'm already

113. 1:03:06

     so inspired by what people are building with near i'm a firm believer in a multi-chain future where we all work together to move from web 2 into a web3 world a world where we replace traditional systems with open source platforms and build the open web here at nir we believe in collaborating with other adapts platforms and protocols who share a vision of a decentralized open internet and with that we have launched interoperability initiatives such as the evm and a rainbow bridge connecting near

114. 1:03:35

     to ethereum in that spirit of cooperation and interoperability we recently hosted hack the rainbow where we had over 400 devs participate in this online hackathon there are some amazing projects and ideas that i believe will be the seeds of many many future dabs on the air right now we will showcase highlights from a couple of projects and then we'll showcase a few more towards the end of this town hall

115. 1:03:59

     these will be brief demos just to give you a glimpse into the universe and we hope that they will entice you to join us for our next town hall during which we'll have their official demo day i would like to emphasize that this is truly the beginning there is so much opportunity for growth and experimentation space for all of you to play a big part in building the near ecosystem and space for all types of developers

116. 1:04:23

     entrepreneurs artists and creators to just jump in and build cool things and if you're already building cool things on the air we want to hear about it so connect with us on twitter discord or join our new community governance portal which lives at gov.nir.org there's a recent post by our co-founder ilya where he's asking for community input on the tools that you feel are missing from

117. 1:04:47

     the near ecosystem this is an open source community and a true team effort so thank you to everyone who's participated we are all building near together now on to the demos hi my name is yoon song head of research from dsrb we are team based in south korea and we present to you our project one year one year is a staking device project on year which allow you to stay near and receive one year to send to ethereum portify this way we can have the best of the

118. 1:05:34

     both so

119. 1:06:49

     plan 3 allows you to grow and harvest non-fungible tokens it's a mix of a game and an art collecting platform we offer several types of plants one of them is for example the portrait plant we also offer an oracle plant a money plant a insole plant complement plants and we will release several new types of plants as the game develops so let's mean to plant i'm gonna connect here to my near wallet

120. 1:07:22

     plant lover i just created this and now i can go and choose a portrait plant right now you can only mint a random plan so you don't know which art war you're gonna get but in the future i think we'll be able to pay more maybe and choose a specific artist so right now we'll get a random plant i pay a fee of 20 near and here is my plant let's mint a harvest from this plant so i pay now a small fee to harvest an nfd from my portait plant

121. 1:08:11

     and here it is each plant has a dna and that will have an influence on the harvest you can get from the plant the portrait plant will let you harvest portraits and they could be just ai generated but can also be a special one created by the same artist who created the plant so here i clicked and harvest a bit more portraits and finally i got the portrait created by the artist so this will be more valuable each hard space will have like a different rarity and other characteristics that

122. 1:08:46

     you will be able to then sell or trade them and collect them just like trading cards hey guys this is thomas from anechoic i'm presenting my echo our application for the hackathon which is a crowd funding platform completely native on near this is our user cases we have a content creator and a subscriber a subscriber donates to content creators here we have two accounts on the left is the content creator on the right is the donator

123. 1:09:24

     check out their balances remember that for later go to uh my echo dot app and you can see our home page here here we can go to home and you can check out uh our subscriptions up here in the top right you can create a new tier i have one filled out for load times uh and then once you're done you can just hit submit it submits it to the near contract while when you get a link to your uh page which is connected to your wallet so it just be my echo dot app tnt for the content

124. 1:10:05

     creator and then you can see here that they got some tiers and there's the tier i just created on the contract and i can add some money to it i can do 10 at least 10 near but i can do as much as i want i'll give 50 required information like email my i'll just put my email um and then come here you can uh do an optional message like hey bro uh currently this is encrypted but before we go on the mainnet we will be encrypting the data between the contract

125. 1:10:44

     so then no one can see that if we go back to the wallet and refresh we should have 50 near in this account okay about 15 here here in the content creators account and minus 50 near from the subscriber account so everything's working this is great we've just donated uh 50 near awesome thanks guys i hope you enjoyed our little project check it out test it out it's live at my echo dot app

126. 1:11:11

     thank you so those were the hackathon winners huge shout out to everyone who participated and to danny for organizing the video that she put together uh ash crawford the person who behind the scenes has been putting this together weaving the video together nema to

127. 1:12:14

     putting on the hackathon and you know losing a lot of sleep um just on the hackathon section i also want to go in reverse order and give a shout out to uh the people that you heard from earlier so anton uh talking about charted smart contracts i think that is so somewhat mind-blowing if not insanely mind-blowing uh you know what what that actually means uh going backwards we had uh sasha briefly sorry he talked after anton sasha briefly talking about the work he's put into

128. 1:12:44

     building out this list of people building on top of us um of course ilya alex and eric um i know you guys don't see it but uh when we're launching at each one of those checkpoints uh all of us are losing sleep it gets really tense and really stressful and uh it's cool to come together for moments like this where we can share with the community some of the stuff that we've been working on i know we're not

129. 1:13:09

     really loud about it but uh i get to tell you guys one little cool uh thing which is this so building a community uh takes trust and if you guys didn't see the blog post guess what trust token is the first stable coin coming in here i'm like super pumped on this a lot of developers a lot of people who want to build businesses a lot of people who are just interested in blockchain the first thing they hear about is you know stable coins oh how do i actually you know spend money right how do i how do i get

130. 1:13:41

     paid in something that's recognizable to me and uh stablecoin is what allows that to happen so we're really pumped to uh usd is going to be the first stablecoin on year that's coming soon that'll launch with the rainbow bridge which i think you guys heard about the roadmap for that um if you want to hear more about it of course there's always near.chat you can join our discord

131. 1:14:03

     uh you can email me directly anybody who's listening peter near.org if you want to contribute in any way i can help you find your place inside of the near collective especially if your developer i will sit down with you i'll help you build your first smart contract that's my favorite thing in the world right now to do um i'll you know spend any amount of time on it so please reach out the last thing that we've got for you guys um there are a few breakout rooms so if you want to take a look don't click yet

132. 1:14:29

     because then you'll uh you'll lose me but the sessions tab once we're done talking here go over there um a few of them are going to be hosted by us let me actually take a look at which those are so i'll be hosting one um alex kidnap is going to be hosting one um you can see them appear as soon as i uh close out and yeah so so yeah i don't have the list right here but you'll be able to see them as they pop up and if you want to create a session you can go ahead and click create session on the sessions tab once

133. 1:15:01

     i'm done here and you can you know talk about whatever you want if you guys want to network also that's a cool thing you can do i recommend joining the sessions they'll be going for about 30 minutes after this and then finally uh what are the next steps of course there's the developer program near.org developer program if you want to apply that's basically just going to funnel over to me um or nema we'll we'll get you set up

134. 1:15:23

     there's the openweb collective if you're a founder in crypto and you need help or you need support or you need financing or you need you need something go to openwebcollective.com you can also apply directly at near.ai owc join our community conversation on governance gov.net.org and then of course near.chat as i already said that will allow you to join our chat so that's a lot of links and a lot of information

135. 1:15:46

     if you're just overwhelmed you can always just go to near.chat and like dm me it's my name and a potato it's hard to miss and i can be like okay go check out this or go check out that uh thank you everybody who participated everybody who brought this thing together this was a huge community effort and i'll see you in the breakout rooms adios oh yeah oh actually we're giving one

136. 1:16:10

     more giveaway i just i'm hearing in my in my thing okay so the link is gonna appear and hop in um stand by hold on waiting on that link gg everybody gg liquid that was for mike okay well so while i'm waiting on that link um nadascam.com uh while i'm waiting on that link i want to say a couple of other things uh if you didn't know about it so if you even have a little bit of tokens you guys can delegate tokens so i know

137. 1:16:58

     that staking came up uh there's uh something cool uh near staking.com is a shout out to one of the uh the actual um validators who built a way that you can see i i i know there's a lot sorry for the other people who have built these dashboards but this one is really cool if you go to near staking.com and then sort by the amount staked per uh per validator you can see how decentralized the network is so just something to check out and then yeah so join the last swag drop we'll announce that

138. 1:17:31

     uh actually is that gonna be through twitter oh i'm gonna do it right now okay yeah so sign up right now for the swag drop uh we missed a t here let's let's try that again mr t mr t there we go yeah elias got it thanks on the assist um let me go ahead and go to that overview and oh no i got signed out all right i'm going to stop sharing and oh there we go cool manage giveaways and then it's the active one and then pick winners

139. 1:18:13

     ash you tell me when to pick three minutes okay y'all so yeah if you're still on uh go ahead and go to near dot ai swag drop it's on the stage so not the event tab uh the stage is gonna have near ai swag drop um this swag is so rad i can't wait to get my hands on some of it it's the new logo i don't know if you guys have seen it it's like the sharper one rather than the fade it's like a real a real subtle change but i think it makes a big difference

140. 1:18:44

     um i don't think i can access it uh yeah i can't get on the store right now otherwise i would show you guys the store um i can try that while we're while we're waiting on this here i'll i'll uh wait for the go ahead to pick winners and then i'm gonna try to hack into my own account right now yeah sure i'm uh ah so right now what i'm doing is i'm trying to log into the uh the actual account for our store hey i'm in okay cool all right uh let me just show you guys

141. 1:19:34

     this then real quick so let me open up the store preview shop okay it's coming just give me a sec guys okay this yeah oh yeah that's right thanks i know you guys probably think i'm talking myself but we have some really cool tech thanks to ash yeah it's so rad oh my gosh i'm so freaking pumped uh so this is the actual store this is what i was talking about the shirts so like if you look carefully i know this is not a big thing to get excited about but this gradient versus this point on

142. 1:20:08

     these new t-shirts right and then also so this hat here this is the first time it's been available actually on um line right so you got to be like no a team member to get it before and yes you can buy this stuff with near tokens i have been told and the first thing i'm going to buy is this cool mug i love these camp mugs oh my gosh i'm so pumped i'm out of my cart let's see what else what else do i want

143. 1:20:34

     um hoodie let's do this i'll add it i'm not gonna buy it right now i'll save it for later oh my god so this is the rainbow bridge sort of like like uh mascot i guess you could say it's a near cat with like a little rainbow engine that's so cool uh which color i probably should go with like a yes silver i think so i'll add that to car wait i don't want small there we go gotta change that um yeah so this is basically turned to

144. 1:21:06

     watch peter's shop for near stuff uh but if you guys want to do the same i recommend it once it's live uh yeah shout out to jake for all of these designs he is amazing just like crushed it shout out to um well sorry ash can you repeat that oh and yes and yeah so yes and is the cfo of the near foundation he made it possible to uh actually like purchase this stuff i mean yeah full stop i was gonna say purchase it in here but i mean he made it

145. 1:21:38

     financially possible uh oh yeah thanks jake one day i'll get that large um okay cool so am i good to go on the pick okay i'm gonna go ahead and start uh selecting winners now so uh hopefully you guys okay last chance near.ai swag drop if you guys want to pick up some of this radical swaggical stuff um here we go all right autopicking the first person that is d dark zero on twitter

146. 1:22:13

     um all right auto pick and this is kieran you got another you got another win dude okay uh todd peer point join the discord server you're gonna get some sweet swag so oh the way this works just because i didn't say it specifically you get 50 bucks to go buy whatever you want in the swag store so we're not going to pick it for you uh mescuka you want to again i think i'm actually going to re-pick this one all right oh no i think only a few

147. 1:22:45

     people signed up ah all right yeah i think this this this last one i think uh we we we didn't give you guys enough time there you go um so for anyone who has picked twice we'll we'll uh we'll re-roll this and then reach out to someone else um so you'll get one thing um and you'll get to buy whatever you want from the swag store so yep we'll we'll email you a reach out via whatever you signed up with on that near uh swag drop link thing that's in the thing all right thanks guys we'll see you all

148. 1:23:26

     on the internet abroad the in the digital pipes and uh i'll see you in the breakout session on basically developer community i forget what i titled it but it'll be obvious the one how to contribute as a developer so i'll see you all over there all right thanks again everybody namaste take it easy