On September 10th, Centrifuge joined hands with Odaily and PolkaWorld to hold "Interstellar Cruise - Explore the new Polkadot DeFi paradigm with Centrifuge, and the Altair Parachain Auction Conference", sharing and discussing the behind-the-scenes of the Kusama auction from the perspective of bidding first-line project parties Stories to explore new opportunities for Polkadot ecology. (Click to enter the live room/watch the video replay.）
On September 10th, Centrifuge joined hands with Odaily and PolkaWorld to hold "Interstellar Cruise - Explore the new Polkadot DeFi paradigm with Centrifuge, and the Altair Parachain Auction Conference", sharing and discussing the behind-the-scenes of the Kusama auction from the perspective of bidding first-line project parties Stories to explore new opportunities for Polkadot ecology. (
Click to enter the live room/watch the video replay.
We are honored to invite Kelly, a contributor to the Acala global community, Yuki, the Chinese community manager of Moonbeam, Song Mingshi, the Chinese representative of Astar (formerly Plasm), Tong Lin, the co-founder of Phala Network, Lurpis, the co-founder of Bifrost, and Xiaojie, the co-founder of the moderator PolkaWorld, to participate in the roundtable "After the first round of card slots, how does the Kusama ecosystem get new increments?" ".
When talking about promoting the development of the Kusama ecosystem, Kelly said that Karura’s greatest contribution to the Kusama ecosystem is not only to provide a complete DeFi product matrix, but also to help users use flexible fees and low-cost efficient products; at the same time, it has launched a highly compatible and customized EVM+ And the Ecological Construction Growth Fund, hoping to better realize the innovation of DeFi developers on Ethereum on Acala EVM+, provide financial support for developers, and introduce rich asset bridges for cross-chain interoperability in the future.
When talking about the unique advantages of Polkadot and Kusama compared to other public chains, Yuki said that Kusama’s community is well-known and will be taken into account in the ecological choice of the project party; at the same time, Substrate is easy to develop and can save a lot of development costs. It has the advantage of low barriers to entry; in addition, the technical advantages of interoperability and shared security will be more clearly perceived in the future; Kusama's project development threshold is lower, the update and iteration speed is faster, and it is more flexible. This is also the Polkadot ecosystem. Advantages for developers. From the perspective of users, compared with Ethereum, Kusama has cheaper handling fees, faster network speed, and relatively convenient experience.
Tong Lin said that Phala provides sophisticated services this year, including solving problems such as asset shortage, inconsistent versions, and insufficient bridges. At the same time, Phala will try to do some complex cross-chain messaging, which may include intelligent operations of more than three parallel chains. Phala hopes to prove the superiority of Polkadot cross-chain transmission and the superiority of the parallel chain mechanism. In the past two months, Phala has provided various rewards, community resources, and team resources to help each parachain expand its DeFi ecosystem, and jointly help Polkadot find its advantages and avoid its disadvantages.
The following is the essence of the roundtable content, edited and organized by Odaily, enjoy~
Lurpis talked about the advantages of Polkadot compared to other ecology, and said that there is an essential difference between Layer0 and Layer1. Some people may use Substrate to write consensus and become Solana on Polkadot. In addition, the power of capital will make an ecology prosperous in the short term, but it will not be sustainable in the long run. In the long run, it depends on the technical fundamentals. The future must be a multi-chain ecosystem, which requires interoperability. As waves of upsurges pass, everyone will definitely return to the essence—whether it can land, and whether it can truly achieve cross-chain interoperability. And long-term composability will definitely depend on the Substrate system.
Lurpis（Bifrost）：The following is the essence of the roundtable content, edited and organized by Odaily, enjoy~
Xiao jie (round table host): Hello everyone, I am Xiao jie from PolkaWorld. Today’s event is our first round table in this event. I will chat with you. In an era when everyone is grabbing traffic, Kusama How does the ecology acquire new increments? First of all, please introduce yourself.
Yuki（Moonbeam）：Hello everyone, it is a great pleasure to participate in this Centrifuge slot bidding conference. Briefly introduce Bifrost. Bifrost is the project that successfully bid for the Kusama slot in the first round. We mainly provide two types of derivatives, one is for staking, and the other is for parachain slot auctions. In the near future, we will launch an agreement to provide Altair with the release of slot derivatives.
At present, the locked position on the Bifrost chain has reached 125 million US dollars. We have more than 1,800 Ethereum derivatives and nearly 142,000 VKSM derivatives. Next, these derivatives will be circulated in the Bifrost parachain. Our current progress is that we have entered the final audit stage of the agreement, and will log on to our mainnet soon. In the next version, Swap will be fully launched, and then we will communicate with other parachains, including Karura and Centrifuge who are present today. Lots of interaction, thank you all.
Hello everyone, I am Yuki, the Chinese community manager of Moonbeam. I am very happy to be here to participate in Centrifuge's first show in China today. I also wish Altair all the best for the auction. In fact, Moonbeam and Centrifuge have announced some integration cooperation before, and Centrifuge is very welcome to develop and deploy in the Moonbeam ecosystem.Let’s talk about Moonbeam again. You can simply understand that if projects already on Ethereum or projects developed based on EVM smart contracts want to enter the Polkadot ecosystem, Moonbeam and Moonriver are very good options, because we develop based on substrate and are compatible with EVM The smart contract platform, Moonriver, a parachain on Kusama, is currently online. The current compatibility functions and balance transfer functions can be implemented on Moonriver first. There are also a number of very interesting projects running on Moonriver. Welcome everyone to experience it.
Tong Lin (Phala Network):
Hello everyone, I am the co-founder of Phala Network. We are a technology development company and also a Polkadot ecological consultant. Phala is a Web3.0 sharing platform, we hope to solve the intelligence problem in existing cloud computing. We provide cloud computing with privacy computing functions. Specifically what to do in the Polkadot ecosystem? Last time we also synchronized the latest progress with you. Last week, there was a relatively big update: democratic governance was started. The parliament is composed of five members from different countries, different regions and different organizations. I am also honored to be one of them. In the next step, we launched a referendum to enable mining and staking mechanisms on Acala, which can bring computing hardware. After this mechanism is turned on, we are basically in a complete state, and smart contracts will be launched later. The route of the mainstream compatible EVM is different. At present, our ecology is relatively weak. We hope to make more voices in the Polkadot ecology and support this kind of technology stack more.
Kelly（Acala）：On the other hand, we also see some problems with the current bridge. Although the TVL of each chain such as Bifrost, Moonbeam, and Karura is good, there is still a little distance from the level of chains such as Solana. In the next step, we hope to help accelerate this state as much as possible. First of all, we need to get through the bridge. We have implemented a general version, and a version that supports EIC will be launched soon. The second is the relay of parachains, such as Karura and Bifrost can be connected, but this matter is not as smooth as everyone imagined. There may be different versions between different parachains, which version is supported? This may require everyone to sit together to coordinate, but there is no such thing at present. This is the second biggest problem. The third is the rich diversity of DeFi ecology. Only swap and staking are not enough, they all need to be deployed. In this regard, Karura and Bifrost have made relatively good cases. In the next step, I personally look forward to having such an ecology on Moonbeam.
Our referendum has already started, and the countdown should start next Thursday, and Mining should start next Thursday.On the whole, Acala and Karura are one-stop DeFI centers of the Polkadot ecosystem, with a relatively complete product matrix, including the stable currency protocol aUSD, DEX, the release of Satking liquidity derivatives LDOT/LKSM, and 100% Compatible with the Ethereum development environment, 100% retains the advantages of Substrate, and supports highly customized smart contract virtual machine EVM+. From a more focused point of view, the first is the stablecoin protocol. When there is a need for funds and you do not want to sell assets, you can use the over-collateralized method to reinvest assets. It is also based on the characteristics of multi-chains. Acala will not only support the Polkadot ecosystem. In the future, various bridging assets such as BTC and ETH, and even derivative assets LDOT and LKSM can be pledged; the second is the DEX of the AMM mechanism. We have launched a wealth of trading pairs and opened liquidity mining incentives plan; the third point is the Staking derivatives just mentioned. Derivatives can not only help users obtain Staking assets, but also improve the security of the network and the liquidity of user assets. Currently our proposal can support Kusamastaking derivative LKSM as collateral. Our latest proposal also supports Bifrost's asset cross-chain. Welcome to use our DeFi products, there will be more about how to play between parachains.
Song and Ming Dynasty (Astar, formerly Plasm):
Hello everyone, it is a great pleasure to participate in Centrifuge's first show in China. Astar Network is a smart contract platform based on Polkadot. You can compare it with Ethereum and Solana. Compared with other smart contract public chains, Astar Network also supports EVM, WASM, Layer 2 expansion, multi-chain bridge and unique DApp Staking mechanism. EVM+WASM means that both Solidity smart contracts from Ethereum and WebAssembly-based smart contracts can be directly deployed on Astar; the second layer expansion means that DApps built using ZK Rollup on Astar can have greater throughput and more Low cost; the multi-chain bridge means that the assets on Astar have stronger circulation, and the DApp on Astar also has a stronger combination; DApp Staking can bring development rewards to developers and ensure the prosperity of the developer ecosystem .
Astar pioneer network Shiden has won the parachain slot auction in July, officially becoming the third parachain of Kusama. At present, the Shiden network has entered the PoS stage and opened transfers. We will end the stress test on the weekend and start the EVM next week. At that time, the projects on Dusty will be officially deployed in Shiden. Welcome everyone to pay attention.Xiao jie (host of the round table): The parachains we invited here today are the first slot auction parachains in the Kusama network. In your opinion, compared with Ethereum, which started relatively early, the Kusama ecology at the current stage What has been achieved and what is missing? As an early supporter, what kind of help will each project provide in the process of promoting the ecological development and improvement of Kusama?
During the Song and Ming Dynasties:
Compared with Ethereum, which started earlier, the current Polkadot/Kusama is slightly inferior in terms of infrastructure and ecological projects. However, compared with Solana, Cardano, Cosmos and other contemporaneous or emerging public chains, the Polkadot ecosystem is still very comprehensive, and strong teams can be seen in every track.
Introducing more applications and assets is the first contribution that Astar/Shiden can make to the Polkadot ecosystem. Because the Polkadot relay chain itself does not support smart contract functions, for developers and project teams, entering the Polkadot ecosystem requires the use of Substrate to build parachains and bid for slots or access parathreads. On the one hand, facing higher development difficulty, it also means higher economic costs and longer waiting time for slots, so it is actually difficult for many projects to really enter the Polkadot ecosystem. But I just mentioned that Astar/Shiden is a smart contract platform, which means that most projects can enter the Polkadot ecosystem through smart contracts. Astar/Shiden 100% supports EVM and Ethereum development tools, which means that DApps from Ethereum and BSC can be migrated to Astar/Shiden at almost zero cost without modification to enjoy DApp Staking mining benefits and stronger interoperability . By lowering the development threshold, we believe this will bring more projects and assets to the Polkadot ecosystem.
Kelly：The second contribution is that Astar/Shiden can guarantee the continued competitiveness of Polkadot in the future. In addition to EVM, we also support WASM and allow the combination of two types of contracts. Due to the complete efficiency and high scalability based on WebAssembly smart contracts, including Ethereum 2.0 will eventually adopt eWASM, we believe that WASM will eventually replace EVM and become the future smart contract paradigm. Through the WASM ecology we incubated, we believe that WASM will become an important competitiveness of the Polkadot ecology in the future. The other aspect is the second layer expansion. Now many projects on Ethereum are expanding through layer2. The ZK Rollup pallet we developed with the support of the Web3 Foundation will ensure the vertical scalability of the Polkadot parachain outside of sharding.
Finally, I would like to mention our unique DApp Staking mechanism, which can bring income to developers; and the just-launched first phase of the $30 million Shiden Ecological Fund, through the support of other ecological migration projects and start-up projects in terms of capital, technology and market This can also attract many other blockchain projects to enter the Polkadot ecosystem, bringing more traffic and more assets to the Polkadot ecosystem. Developers and project teams are welcome to join our Builders Program to obtain funding or deploy DApp mining to obtain developer benefits.
In terms of technology, we actually proposed such an asset standard last year, called XToken, and we also contributed our NFT module to Kusama. We also made the first mobile Polkawallet wallet, which is also very convenient. Karura's greatest contribution to the Kusama ecosystem is not only to provide a complete DeFi product matrix, but also to help users use flexible fees, low-cost and efficient products; at the same time, it has launched a highly compatible, customized EVM+ and ecological construction growth fund, hoping to integrate Ethereum The innovation of DeFi developers can be better realized on Acala EVM+, providing financial support for developers, and introducing rich asset bridges for future cross-chain interoperability.
Also because of the characteristics of Kusama's heterogeneous chain, we are also very highly customized for EVM. Let the originally limited projects on Ethereum, when entering Acala or Karura, boldly implement their ideas and designs on our Karura according to their own customized needs. They only need some minor modifications to deploy their EVM smart contracts on our EVM+, and they can also use some common tools like the Ethereum environment.
Yuki：Our Karura can also provide these DeFi developers with the TVL we already have. There will be bridges in the future, so there will be multiple assets such as BTC and ETH. Based on our developers, first of all, we can enjoy the technical support of our users, traffic, TVL and core development. In terms of our products and designs, we will also give a lot of support, so that everyone can use it as soon as they enter the Polkadot ecosystem. Applications. This is the technical level.
In addition, our Grant will provide innovation opportunities for many DeFi teams who want to come to Karura. The developer community of Ethereum is also very large, and its innovation ability is very strong, but Ethereum faces problems such as handling fees and speed, so when they innovate, they have to give up some decentralization features and also need to bear high costs. The cost of fees. We hope that when developers come to us, they can enjoy high customization, have traffic, users, and financial support, and be able to maximize innovation.
Whether it is Moonriver or Moonbeam, we have the same development goal as Kusama. Multi-faceted development must be the appeal of mainstream developers to deploy projects in the future. This has been very well reflected after the deployment of Polkadot's first batch of parachain slot auction projects. Two to three weeks after Karura was launched, it immediately had its own application, and the TVL and other data are very good. After Moonriver realizes the fully compatible function of EVM, it has also seen some relatively new applications, which users like very much. Therefore, from the perspective of the entire Polkadot ecology, its ecological prosperity will be very fast.
The goal of Moonriver itself is to provide developers with a more convenient, zero-cost, and contract-deployed infrastructure platform, so we will provide a very large technical support for a project in the early stages of its establishment. For example, we will lower the threshold for developers to a very low level; secondly, we will provide more tools that developers are familiar with. If he has similar development experience in Ethereum, he can also develop on Polkadot and Moonriver platforms; Third, this project has already taken shape in other ecology, and the cost of deploying it to the Moonriver ecology is almost zero. You only need to deploy its existing code to our platform. No license is required, and the development will be faster and more convenient. This is why we Early welcome policy for native projects. From the perspective of support, we will also provide more support for such projects. We have a project acceleration plan. We will have more support not only in terms of technology, capital, and market resources. This can also help the entire Kusama ecosystem in the early stages. The emergence of more new types of applications will have a certain promotion effect, which is also the help provided by Moonriver. If you are interested, we have a series of development courses in Chinese and English on the official website for development on Substrate. At the same time, we will cooperate with other third-party communities to do more popular technical development language tutorials, so that more developers can enter the Polkadot ecosystem. This is the help that Moonriver can provide.
Tong Lin:Objectively speaking, these help can also play a certain role. The first batch of projects deployed to Moonriver currently have a TVL of tens of millions of dollars, and the results of early promotion are still very obvious. In the future, we also welcome more types of projects to be developed on Moonriver. Let’s work together to expand the Kusama ecosystem .
Tong Lin:
First of all, our positioning is quite clear. This year, the most obvious thing we can do is to provide some sophisticated services. Recently, we have also looked horizontally at the actual comparison between various public chains. The Polkadot ecology started relatively early, but a little slower. But that's okay. For some ecosystems other than Polkadot, the TVL is not very high, and it does not mean that they are very functional. Some lack a privacy layer, causing some assets with privacy requirements to flow to Acala or other chains. Another example is that the Polkadot ecological chain can solve the sorting problem. Our first thing in the short term will solve the problem of asset shortage. First of all, it is necessary to make the bridge well, so that Bifrost assets are willing to come in. Now the increase from 100% to 200% does not flow linearly, but there is a break in the middle. The staking chain has existed for six months now, and nothing has been uploaded. This state is very bad. Recently, many teams have a large layout, and they think that the lack of assets is a fatal point. Building bridges is the focus of everyone in the next stage, and we will do it too.
Lurpis：The second point is that we will solve the version problem as soon as possible, at least to achieve a certain degree of uniformity. The problem encountered now is to connect to the A parachain, using standard A; to connect to the B version, using standard B, the so-called advantages of cross-chain interoperability will no longer exist, and we are also very anxious about this. In addition to being anxious, we will try to introduce BSC assets, which can easily flow into Moonriver and put them on Bifrost and Karura, but this has preconditions-standards and versions.
Third, we will try to do some complex cross-chain message transmission, which may include intelligent operations of more than three parachains. There are some gameplays behind this, which can provide profits. Recently, the DEX Raydium of the Solana ecology is very popular because it takes advantage of Solana's characteristics and is extremely fast. I believe that Polkadot also has such a feature, but it is currently not included in September and October, and multiple calls may be made. If possible, we want to prove one thing, which is the superiority of Polkadot cross-chain transmission and the superiority of the parallel chain mechanism. In these two months, we will frantically provide various rewards, community resources, and team resources to help each parachain expand its own DeFi ecosystem and build it. We will help Polkadot find its own advantages and avoid disadvantages together.
Boss Tong said it very well. One thing I agree with is that the amount of funds for the Kusama ecology has not increased, and it is still in its early stages. We think there are two main reasons for this. One is that there are only five parachain slots in the ecology. From the development some time ago to the real mainnet launch now. The second is outside the ecology, mainly by bridges. Like Bifrost, we mainly focus on funding and bridges to empower the entire ecosystem. As far as the bridge is concerned, we have recently investigated many solutions. Cross-chain bridges are technically very difficult for heterogeneous chains. At present, there is no very good solution, whether it is between Layer1, Layer2 or EVM. scheme. If you really need to do cross-chain, you need a bridge that only relies on technology. It can do financial verification only relying on technology, and undertake the circulation of more assets on the basis of this bridge. For Bifrost, what kind of help do we provide in this ecosystem? The most important point is that Bifrost is a parachain network that provides funds, and we will provide a variety of derivatives: staking, slot auctions. This is ecological. Outside of ecology, we will also provide funds. How does this fund come in? First of all, there must be a bridge.
We now see a better solution: not relying on external consensus or multi-node, we think this is the development direction of Polkadot's external bridge. The question is where is the technical implementation of this bridge and what consensus mechanism is needed. A first-class solution can minimize the entire Polkadot consensus, making it easier to appear in the form of a contract in the EVM, allowing the EVM smart contract to verify Polkadot's past block messages, so that it is a bridge in the true sense. With the development of technology, EVM-compatible smart contracts will serve as a common protocol similar to chain-to-chain communication in the short term. At the subsequent bridge level, as long as Ethereum and Polkadot are connected, many chains can be connected. The most important thing is to launch a bridge of mutual trust between EVM and Polkadot, so that funds can be bridged in the Layer 2 network. So Bifrost will do the bridging. Throughout the whole process, through our provision of staking derivatives, users are on the one hand, and developers on the other hand, which is equivalent to attracting them to mint this derivative in the ecology to increase the utilization rate of funds.
Within the ecosystem, we cooperate with other parallel chains. At present, the parachains we have opened up are Karura, and then we will do cross-chains with Moonbeam, Astar, and Acala. We are also helping new parachain auction projects to make derivatives, and then naturally open up calls between assets. In fact, these assets are already large enough. Now like Kusama’s lock-up volume, this round plus the previous round, there are more than 1.3 million KSM lock-up volume. The scale is already relatively large, and you can already enter the DeFi ecosystem to play some Something different. The second category is that these assets can be entered into the EVM smart contracts of Moonriver and Shiden. Although the EVM is now on the chain, it has not yet connected with the assets at the bottom of the parachain, which may be the reason why the assets cannot be entered. We are promoting this matter, allowing the assets of the parachain to interact with the assets between the EVM, and allowing the loans built on Moonriver to call the assets at the bottom of the parachain.
In addition to ecology, one is staking derivatives, and the other is the development of bridges. Soon the trust bridge between EVM and Polkadot will be launched. Although there are various bridges now, everyone will do it, but the bridge The implementation plan depends on the method, and it is enough to carry your own business, but if you want to carry a larger amount of funds, everyone will be a little bit discouraged at the technical level, because the technical direction itself has security risks. Some time ago, there was also a problem with the bridge. More than 300 million funds were lost and stolen. Now it has been recovered, so everyone will have a sense of bridge security assets.
So next, this bridge can truly connect assets. Bifrost is currently making some chain connections with Snowfork, hoping to provide more assets and technical implementation solutions at the bridge level. Through Bifrost, no matter Whether it is derivatives or assets of other external heterogeneous chains, they are all introduced into Polkadot or Kusama ecology. If these are prepared, the growth rate will be very fast.Xiao jie (host of the round table): Whether it is the Kusama ecology or the Polkadot ecology, what kind of things can attract users to stay in our ecology, or what do you think is attractive about the project, so that everyone can work together in the Kusama ecology? go on?
Kelly: first
, Polkadot really wants to decentralize, including its governance, and it is also experimenting in the same way as DAO, so I think Polkadot is a completely different system compared to many current innovation chains .
For Ethereum DeFi and Polkadot DeFi, the first thing that users care about most is cost. If it is a derivative product, it needs to be traded with leverage. Very sensitive, a few seconds is a lot of risk for high frequency quantization.The biggest advantage of Polkadot is that it can be highly customized. Like Karura, we have flexible fees for users. We provide users with a one-stop experience. They can use their own assets to pay, and through us, products like Bifrost can also be used for cross-chain interoperability. Sex, this is not available on Ethereum. If it is implemented in a centralized way, there are indeed many such ways, but this is contrary to the world view of the blockchain itself.
During the Song and Ming Dynasties:
From my point of view, I think the most direct advantage of Polkadot is still in cross-chain interoperability. During the recent period, it may be due to the popularity of emerging public chains such as Solana, Avalanche, and Fantom that more and more people can feel that whether it is overseas or domestic, people are more frequently mentioning multi-chain as multi-chain. I think that with the development of various blockchains, they will eventually develop their own unique advantages. For example, Solana, which is popular these days, brings greater throughput through PoH, Phala and Oasis, which are present today, provide privacy protection, and A blockchain that provides specific resources such as storage, computing, and content. In the future, there will be many chains with different characteristics, and there will be cross-chain requirements.
Yuki：In fact, I think today, the trend and demand for cross-chain has become more and more obvious. For example, I bought an NFT of NBA TopShot on Flow, but I want to use the recently popular NFT Finance project on Ethereum to obtain liquidity; another example is the cross-chain NFT market that a team of our ecology is working on; including many people who are used to using Tron I don’t use Tron to transfer USDT, so when I receive USDT transfers, I often have to spend a lot of time exchanging the assets on Ethereum for TRX through a centralized exchange, and then transfer to Tron to pay gas to transfer my USDT back. After the cross-chain is truly mature, such complicated steps will be simplified a lot.
As for the current popular cross-chain bridge solution on Ethereum, I think it is not ideal. Faced with practical problems that are difficult to solve for cross-chain bridges such as how blockchains with different finality handle rollbacks, how to deal with network-level attacks, and how to realize NFT cross-chain bridges, Polkadot's XCMP cross-chain messaging still has the most potential. Therefore, although the current progress of Polkadot XCMP is lower than expected and it is not perfect, I think XCMP and the parachain mechanism are still the most reliable and potential cross-chain interoperability solutions.
Let me answer what are the unique advantages of Polkadot and Kusama compared with other public chain projects. Just now the bosses talked a lot about the technical outlook, and here I am more from the feedback of the entire market, and I will share my own opinions.
First of all, the Polkadot project has been developed from the project to the present. The second batch of Kusama slot auctions has already begun. The popularity of the entire community is very high. When everyone is considering which ecology to choose first, Kusama and Polkadot ecology will definitely be It is considered an option. Why does it allow developers to choose to do this? The Moonbeam development team has a deep understanding. We have always felt that Substate development is very convenient and can save a lot of development costs for the team. In the past, when I went to other places to develop, I needed a team of 15 people, but with Substrate, 4 people are enough, which has the advantages of cost and entry threshold.
Next, there are significant technical advantages. Just now the bosses also mentioned the advantages of interoperability and shared security. We may not be able to perceive this advantage very deeply. I believe that after this point is reached, the interoperability between each parachain When interoperability is stronger, users can also feel the advantages.
Another one is the focus of development between Kusama and Polkadot. Taking other public chain ecology as an example, you may compare Binance Smart Chain to Kusama, because everyone can find that the development of this ecology is chaotic and changing with each passing day. For Kusama, the threshold for project development will be lower, the threshold for becoming a parachain will be lower, and the speed of update iterations will be more flexible. This is also the advantage that Polkadot ecology provides to developers.
It will be more direct for users, and users will always vote with their feet. We have seen some user feedback on Moonriver, the most direct one is the transaction fee, which is indeed quite low. If you do interactive activities on Moonriver, the transaction fee is only a few cents each time. Now it is close to 0.5U on BSC, not to mention on Ethereum, you can also find it when you participate in the event, it will be more expensive. Compared with Ethereum, the network speed is relatively convenient, which is also the performance of the Kusama ecosystem to users at the beginning. With more transaction interactions in the future, this convenient experience will be even stronger, and users coming here does not mean that they have to give up the experience of other ecology. This is a parallel way. Experience a variety of asset interactions at the same time. At present, it is a very niche, and everyone is trying new experiences. I believe that in the future, it will also be a very mainstream demand.
Lurpis：In addition, from the perspective of development trends, we now see that the Ethereum project will go to the Polkadot ecology, which is also the role of mutual empowerment. In the Moonriver ecology, this is also more obvious. Like the exchange projects on Ethereum, they are also willing to open a new project type on the Polkadot ecosystem, so that everyone can have a more different experience, because each public chain platform has its own characteristics. As a project party, I hope that I It will be better if the business is more diversified. For him, Polkadot is another possibility for him to expand the boundaries of his business.
In addition, more projects like cross-chain bridges, pledges, and stablecoins will follow, and the combined interoperability, just like Lego World, will become more and more abundant. It is also the reason why we are optimistic about the Kusama ecology, because it not only has a huge user base from the external ecology, but also interoperability between internal parachain projects from the two major ecology of Polkadot and Kusama. This possibility of creating prosperity on the chain will be more abundant.
The essential difference, I think in the short term, the Solana ecology or the power of capital makes this ecology look more prosperous, but in the long run, it may not be an easy sustainable thing. In the long run, we need to look at this matter from the technical fundamentals, so the future must be a multi-chain ecology. If you want to achieve a multi-chain ecosystem, you must have interoperability. As I mentioned earlier, interoperability is very difficult. If you want to achieve interoperability between two heterogeneous chains, the difficulty is far greater than if you build a chain alone, or do two chains alone. In the future, more effective composability in the multi-chain ecosystem, or the composability of Layer 1, will depend on the interoperability provided by the underlying architecture. At present, Polkadot's XCM is developing in this direction. In the long run, the interoperability between isomorphic chains through XCM is the real way to see the future. This is a solution that can be implemented in the short term .
Tong Lin:After waves of upsurges have passed, everyone will definitely return to the essence, which is whether you can land on the ground and whether you can truly achieve cross-chain interoperability. If you want to reconstruct from the bottom layer, I think it is very difficult. In 2017, Polkadot was providing cross-chain interoperability solutions in this direction. From a technical point of view, in the long run, if there is a multi-chain ecology, if the multi-chain ecology can prosper and it is necessary to be composable, it must rely on the Substrate system.
Tong Lin:
I especially like what Yuki said just now. It is very clear that it is actually more appropriate for her to do the real summary. For the Polkadot ecological community, I think the biggest thing is long-termism. Through technical analysis and judgment on the future, all companies believe that the matter of isomorphic Polkadot has been done now, and in the next two to three years or longer, we can realize its superiority. There is no doubt about himself.
The short-term advantage, I think, is the ability of several project parties present here and the extent to which they can do it. I think this is the real short-term advantage. What we have seen with our own eyes is that parachains have overcome various difficulties, followed up with upstream codes, and brought in developers and external ecology. I think the top 15 parachains are all very good. The quality of these teams is very strong, but everyone has not yet exerted the advantages of Polkadot. I believe that in the next stage, Polkadot's advantages can be displayed. The biggest feature of Polkadot is that both the community and developers need to have long-termism in order to be in this ecology.
Decentralized institutions care very much about the underlying technology and true decentralization in the decentralized world, and they hope that the basic products are robust. SBF dares to put his own money in Solana because he has confidence in the decentralized DAO. Polkadot is neutral, objective, and decentralized enough, so it can become a place for users who value decentralization in the future.：Another point I want to remind everyone is that some competitive chains are very centralized. Can you imagine what will happen to these chains if the staking business is subject to relatively severe supervision or constraints? I think the correlation between the two is very strong, so please pay attention to this point. But on Polkadot, this no longer happens.
