Space Summary
The Twitter Space Blockchain Fridays: Weekly Celestia update. Formachain & Fairblock hosted by koolcryptovc. In the latest Blockchain Fridays space, the discussion revolved around the Celestia update, shedding light on projects like Formachain & Fairblock. Key takeaways included the impacts of blockchain across industries, community importance, and the challenges faced in scalability. Insights on DeFi, data security, and partnerships were extensively covered, emphasizing staying informed in the dynamic crypto space. The engaging space provided valuable guidance on cryptocurrency investments and highlighted the role of blockchain in revolutionizing traditional sectors.
For more spaces, visit the Unique Projects page.
Questions
Q: How does blockchain revolutionize traditional industries?
A: Blockchain brings transparency, security, and efficiency, transforming sectors like finance, supply chain, and healthcare.
Q: What sets projects like Formachain & Fairblock apart in the blockchain space?
A: Innovative features, strong partnerships, and community support distinguish these projects.
Q: Why is community engagement crucial in the blockchain ecosystem?
A: Communities drive adoption, innovation, and sustainability in blockchain projects.
Q: What are the key challenges in blockchain scalability?
A: Scalability issues stem from network congestion, transaction speed, and energy consumption.
Q: How can individuals secure their cryptocurrency investments effectively?
A: Using secure wallets, practicing risk management, and staying informed on market trends are key for investment security.
Q: What opportunities does DeFi provide in the blockchain space?
A: DeFi offers decentralized lending, borrowing, and trading opportunities, revolutionizing traditional financial services.
Q: How can blockchain bridge the gap between digital and physical worlds?
A: By tokenizing real-world assets and enabling secure transactions, blockchain enhances ownership and transparency.
Q: What role does partnership play in blockchain project success?
A: Partnerships foster collaboration, innovation, and broader adoption of blockchain solutions.
Q: Why is it essential for crypto enthusiasts to stay updated on industry trends?
A: Staying informed enables individuals to make informed decisions, adapt to changes, and seize opportunities in the dynamic crypto market.
Q: How do blockchain technologies ensure data security and privacy?
A: Through encryption, decentralization, and consensus mechanisms, blockchain provides secure and private data storage and transactions.
Highlights
Time: 00:15:40
Impact of Blockchain on Industries Exploring how blockchain transforms finance, healthcare, and supply chain.
Time: 00:25:17
Innovative Blockchain Projects Insights into unique features and community support of Formachain & Fairblock.
Time: 00:35:29
Community Engagement in Blockchain Discussing the vital role of community support and partnerships in blockchain success.
Time: 00:45:55
Challenges in Blockchain Scalability Addressing issues like network congestion, speed, and energy efficiency in blockchain scalability.
Time: 00:55:10
Secure Cryptocurrency Investments Tips on protecting and managing crypto investments for long-term security.
Time: 01:05:42
DeFi Opportunities in Decentralized Finance Exploring DeFi's role in reshaping traditional financial services through decentralization.
Time: 01:15:20
Blockchain for Real-world Assets How blockchain bridges digital and physical assets for enhanced ownership and transparency.
Time: 01:25:18
Importance of Partnerships in Blockchain Understanding how partnerships drive innovation and adoption in blockchain projects.
Time: 01:35:30
Staying Informed in Crypto The significance of staying updated on crypto trends for informed decision-making and opportunities.
Time: 01:45:50
Data Security in Blockchain Exploring the security and privacy features of blockchain through encryption and decentralization.
Key Takeaways
- Discussion on the impact of blockchain in various sectors.
- Insights on emerging blockchain projects like Formachain & Fairblock.
- Importance of community engagement and partnerships in the blockchain space.
- Exploration of new trends and developments in the crypto industry.
- Emphasis on the significance of staying updated with blockchain technologies.
- Networking opportunities and knowledge sharing in the crypto community.
- In-depth analysis of blockchain scalability and security.
- Tips on managing cryptocurrency investments and risks.
- Exploration of decentralized finance (DeFi) practices and opportunities.
- Insights on the intersection of blockchain technology and real-world applications.
Behind the Mic
Initiating the Conversation
Good crypto there, man. Hello? Yes, yes. I hate, I hate you. I hear you. We're gonna start soon. We're just waiting for people to come in a bit. So, in the meantime, if you could have retweet the space as usual. we gonna just. Oh, just, discussion about what's going on is less ecosystem. I think we're supposed to have fire block and fair. I'm sorry, fair block. And we have Liam from Fairblock. So crafting from Liam, he's there with a picture of a very private and cipher punk sloth this float with this. Flow with a hoodie. I see, I see him. I see, I see him. That's Liam. That's Liam. Let me invite you up here. I already sent you the speaker. Speaker invite.
Speakers and Guest Participation
And are we having someone from former chain come or. Not yet, but we don't know yet. So the thing is that, so codecrafting was supposed to come on format, but he just told me that he's feeling pretty sick, so it's probably, like, not going, so. All right, I. No worries. No worries. I. Liam, I sent you. I sent you the invite, man. If you accept, you should be good after that. You should be good after that. Maybe just me. Let me send you all the co host, and since I have a open spot available. All right, happy Friday, everyone. We're gonna start soon in a bit. You know, I tried to. Oh, there we go. There we go now. What's up, Liam? What's going on? How are we? Good to see you guys. Thanks for having me up.
Discussion of Custom Artwork
Yo, yo, your slot is dope, man. Where'd you get that from? Is that custom made? That's some custom shit. That's. Yeah, yeah, we. We worked with Sk for some custom slots for Fairblock. And don't worry, for all the slots community. Like, they're not. They can't be sold or anything. They're just like, custom pfps. So. Yeah, just so much. Like, at some point, I guess we are gonna move the honorary, but, yeah, they're. They're not up yet, but, yeah, they're not meant to be sold. Yes, yes. Well, yo, cool crypto. Great to meet you, man. Thanks for having me up. I appreciate it. Oh, absolutely.
Past Experiences and Changes
I think I've been on a space station before. That was before you change the PFE, I think. I think, yeah, probably so. I just changed it yesterday. So you probably saw my, like, my real life photo that. That my sister's. My sister's girlfriend took of me. Yeah. Actually didn't know that, though. What did you say, dude? Yeah, this is. This is definitely more aligned with the vibes. So. Good photo for LinkedIn, though, dude. It's all about getting that. That good LinkedIn photo somewhere, man. But, like, the only places that you can get them nowadays because I don't wear anything nice. Is that, like, a wedding or some shit? Like.
Reflections on Casual Attire
Like, there is no other place where I'm wearing, like, actual nice clothes besides there. Or if you're wearing something nice, then people take, like, the people that take photos are so fucking. Yeah, dude. Yeah, bro. Yeah. Yeah. Yeah. And also, like, I feel like. Well, so just to. Just to something that you guys actually, like, use LinkedIn now, because I feel like that's completely useless for me. If I. If I. If I ever need to, like, contact someone in crypto, like, I would never do it to LinkedIn. I feel like it'll be like, I would just. I just wouldn't use it, you know?
Critique of LinkedIn for Crypto
Yeah, bro. I've been, like, hit up a bunch of times by, like, either VC's or people about, like, partnerships on LinkedIn, and I just automatically don't respond because, like, it sus. It's like, why are you using LinkedIn as, like, the means of communication, you know? Like, I agree. If you are using LinkedIn as a means of communication for crypto and. Yeah. Yeah, yeah. That's crazy. Welcome up. Welcome. We're gonna stop in a couple of minutes. Like I said, this is space. You kind of keep them. Keep them short. Maybe an hour, 45 minutes. We just here to talk about Celeste and talk about the ecosystem growth and what they're doing so far.
Eco-System Update and Community Engagement
Keep people updated. What's going on. We here every Friday's for now. Yeah, man. So I'm excited to have you have Paco, Liam here, so I'm definitely. All right, so let me see. I'm sorry. I got home, and so I start computer up real quick. I think you're up. And I loading. like I said, guys, in the meantime, don't forget, make sure you retake the space. and, we're gonna start soon. I don't. I love. See all this slots here, man. That's so cool. That's such a cool thing, man. I'm telling you right now. That's so cool.
Acknowledging Community Contributions
Yeah. Shouts all the slots here. We love you guys. Yeah, much more. Much love those slots in that. So freaking awesome. Mandy. Dude, I'm actually feeling extremely sleepy right now. I woke up at 04:00 a.m. this morning. Like legitimately sleepy. Yeah, I'll be known since 04:00 a.m. too, man. But I'm wired, man. I'm wired as hell. So I'm always. I think, I think I get exhausted towards the end of the day than I get. Well, where are you? I'm in Houston, but only where you are.
Time Zones and Sleepiness
Cool. I'm in Denver, so I think I'm an hour behind you. yeah. For the record, I'm not like actually sleepy, but like for the vibes of this space I'm feeling. Bro, you are sleepy. You're sleepy. Like you're elaborating too much. I have a pillow right next to me. Let's just leave it. I'm sleepy. Yes, you are. Yeah, I'm just gonna pull up this stuff we're gonna talk about today real quick. So what we'll talk about real quick, just the ecosystem of celestial was going on and updates.
Transitioning to the Main Topic
Then what am I spending 30 minutes with the gas and fair block? Just tell us what's going on, what's coming up, what's exciting with, with fair block. So I make definite. I'm trying to get this updates up here but yeah, last going on. I know I saw, I did see a new project that a nick put up. I think it's not less selenium smite that I think I, I think the block explorer. Yeah. Yes. The blog explorer that it launches.
Exploration of New Projects
It's similar to ether scan, am I correct? So I mean no. I mean yes and no. So it's like, I think it is similar to ether scan in the sense that it is explorer and explorer. But ether scan is of course only for ethereum. This is more for like the whole ecosystem. Like I feel like the selenium thesis and also like thesis from the guys from Dota is that you want like a single place in which you can check, like many chains. Like, it doesn't make sense to have one explorer for each chain in a world that is so multi chain, especially if you believe in like the up chain thesis.
Product Market Fit Discussion
I feel like this type of product, like actually has like decent like product market fit and like I think it's pretty useful because you don't have to hop between like a thousand explorers, but you can just go to like one place and check out whatever you need. So it's like, yeah, I think it's like actually like a pretty useful product, but it's more of one explorer in which in theory, like you're going to be able to view like a bunch of chains. So that's the difference between that and etherscan.
Multi-Chain Explorer Features
Yeah, that's really cool. And she's saying you could check more blockchains on this, on the, on this explorer. Like what other blockchains can you check on it? Other evms or the blockchains is what you talk about. So I think selenium is mostly for like the modular eco, I know that there's orderly network avoidance. I mean, I know there are like a bunch. So yeah, I can, I could actually like pull up and tell you but I feel like it's mostly for like chains within the like modular ecosystem.
Understanding Blockchain Networks
But yeah, it's like I would say like a bunch. I could actually like tell you but yeah, I would feel like, I feel like that's the main difference between like the two of those. Oh, you can also check like eclipse defund. Yeah, like many of the big ones actually. So I do have a question a little bit. Not really. Let's relate that. Just quick question, right? I don't, I don't check prices anymore. I'm so busy with doing all this stuff I'm doing.
Market Monitoring and Personal Strategies
But do you guys normally look at the crypto market overall, like taking coin, get my market cap? Have you guys past that stage? Liam? Dude, I, to be honest, I don't really look at Coinmarketcap anymore because I'm past the point where I'm like actively trading or like actively like selling I guess. You know what I mean? Like I, I buy and I hold. That's like what I do. So maybe that's like kind of retarded, but like that's just what I do.
The Peace of Holding
Yeah, it just, it makes it easier, less stress. Right. I get that. I've been that position before where just checking prices daily, man, it's exhausting. I'm like, you know what, I don't think we're going to do a ten x in one day. I could turn off the coin gecko for a bit. So I'm not, I don't check it anymore. I'm so busy. Anyway, we do it on this basis, which is a good thing. So I don't check market, cap the prices anymore.
Conversations About Past Investment
Pass that stage. For sure. Yeah, dude, back during, yo, we got any omis here by the way? Any Olympus Dow folks or fans of Olympus? Now back in the day, I remember that I, I mean, I very well, dude, during, during my omi days I was checking price of Ohm and like my, like, staked balance accrual, like, four or five plus times a day. Dude, that shit was wild because, like, you could actually get, like, pretty crazy swings, you know, at least day to day.
Defi Experiences and Reflection
But, man, that was super exciting. Yeah, the. I think the issue, that stuff is so not sustainable. I remember the APR we used to get doing that defi 1.0, getting the yummy yams and sushi and pork, getting, like, 1 million% apr. Dude. Dude, that 1 million% APR on euphoria, remember? Wag me the ohm fork on harmony. You remember that one? Oh, I remember.
Experiences with Volatility
Dude, I'm pretty sure that was, like, 4 million apy. I, like, doubled my money in, like, three days and then lost all of it. Oh, yeah. I was so detailed back then. Now I'm so. I think that's the reason why when you've been through hell. I'm saying I. Yeah, you want calm, more relaxed now, right? That's how I feel about it. Yeah. It's like, I've seen.
Conclusion
I've seen bigger swings, which is probably why I, like, don't actively check prices right now at least, so. Yeah. All right, cool, cool. So we have about 45 minutes. Yeah. So I was actually, like, not an Omi, but I remember I never got into that. But I remember in one of my first, like, one of the first crypto events that I went to in New York City, I remember I was doing the line to go into, like, an event, and I asked with my roommate, I still remember this.
Story of a Viral Protocol
There was a korean vc in front of me, and there was this guy in the back that was trying to shield me, that project, and he was like, man, we have 1 million% apr. And I was like, oh, okay. But, yeah, never got into it, guys, unfortunately. So I did tell Liam a story, though, that I remember, man. I think, to a protocol that I think now it doesn't even exist. It was called, like, something like, Sunday swap. Anyway, in one of the pools, like, I remember I put, like, $100. Like, it was like nothing. And, like, I waited, like, I think it was, like, less than a week, and I had, like, 15k. Like, my hundred bucks turned into, like, fifteen k. And I was like, I was so excited. I was like, okay, I'm getting out of this, you know? So then I was like, okay, I'm getting out. And I remember I go to, like, cash out.
Unexpected Losses from Cashing Out
And they were like, okay, you can cash out now, but you're gonna have 50% tax, which means that I would have gotten out roughly, like, seven k. And I was like, okay, I'm just gonna wait like three days and then say. And then like, whatever. And then like, the, like, the thing crashed so much in those, like, three days because it was, of course, so inflationary that, well, I got super wrecked. So. Yeah, that's, that's kind of my. I also have stupid stories like that. So I feel you guys. Yeah, yeah. So, so good. So good, man. That's why we're here now. Just calm, nice, relaxed. I buy the sloth. I'm relaxing, enjoying the lazy Friday with you all. And I'm just here for the vibe, man.
Ecosystem Overview
All right, so what we're gonna do first, I'm just gonna go over the modular ecosystem as a whole. Then they will just give the mic to lim to talk to. Talk to us about fair blocking when they're building. So I got this tree from Andy. I love this dude, man. He's one of my sources for almost all Celeste martial news. I mean, yeah, he has the alpha he has to do. So I love. And you guys, freaking awesome. And so he just talks about. The modular expansion continues for the week. Osmosis zone announces polaris for. For trading all tokens across all chains one app as the first thing. And actually, I pinned the updates in the geometry here. So you look at my pin post, you can see all the protocols. Exactly what I'm talking about so far.
Updates in the Ecosystem
Next one is with $189 million in liquidity on trading focus l two, powered by gelatin network. That's pretty cool. Cartesi Kartesi ecosystem. they launched them. The ecosystem app reverse. They launched in the main net. I guess that was probably a couple days ago. They must launch it already. And X AI, I know X AI has some stuff with Celestia too. They, they boast in about 45 tps. Base has about 50 tps and gravity chain about 35. That's not too bad. But eclipse, I'm bullish. Eclipse, guys, eclipse should be coming out, I think about q four or q one.
Discussion on Techniques and Protocols
And of course I know this protocol is definitely lesser aligned, which, you know, if you know what I'm talking about. You know what I'm talking about. I don't want to talk about prices, but if you know, so they post about. Man, that's crazy. Eclipse posted 26gb plus onto celestial celestia. Wow. And I think, oh yeah, I think, yeah. Eclipse, they announced a unified liquid restaking token. I think that's probably why they had a massive use on oscilloscope. It's pretty crazy. They're my bullish on eclipse, man. Very bullish on eclipse protocol incentive. I test that for ZK verify verification. Went live just recently. Like I said, everything I'm talking about is in German.
General Engagement with the Community
Yes. You could follow this. Follow each project for updates, man. So you kind of know what's going on. I highly recommend doing that. Next one here is rivals AI note sale sold out like within hours. I did see that. They see that then no sort out a power by Caldera. So if you're a slot holder or taste taker I'm sure you might get possibly get rewarded from rivals AI or and Caldera cordial. Cordial ignites a season two which I think I ended not that long ago. And mitosis is another one that's also less aligned to which is awesome. My sources partners with Lambert Finance to bring bitcoin liquid staking into EO L program and particle networks and another one as also listed online.
Testing and Updates on Network Protocols
They announced a universal account public beta testing with maintenance coming soon. I didn't know that. I know that. Particle network their test has ended I think yesterday or today I know was very recent. So I'm sure they're gonna go to main net soon on a protocol that's less aligned. Here is aligned layer. They dropped their updated roadmap. Roadmap. So you guys go check it. Check that out. Is this sunrise? This is rice chain. No, this is not sunrise he's talking about. Get lost here. I said rice chain and radius XYZ. XYZ announced a collaboration for base sequencing development and another one here. Ever clear ever claim main net lead to for clearance around guys.
Exploring Cryptocurrency Trends and Ideas
By the way, are you guys bullish on us? Do you mean. Oh, I mean ass. I mean assassin ab specific sequencing though. Hey, I saw you, I I saw you getting other ideas. Dude, dude. Cool crypto is getting all red over there, bro. Let's go. Yeah, so I saw the tweet from I think what? What the hell is going on here, mandy of a chip with a big old booty on the screen, man. I was like, what's. Yeah, man, bullish on ass. I'm bullish too, man. I'm an ass guy for sure, which 100%. Nice.
Innovations and Development Discussions
Yeah, I think that's also like pretty interesting. That's also like another development I think jokes aside. Like I think it's pretty interesting that it's being researched. I think it's also like I a way for apps like capture significant revenue. I think that could be pretty interesting as well. Since you mentioned sequencing. I just figured. I introduced this point because I think it could be very bullish, especially for protocols like Uniswap, if they manage to implement something like this. I think there are some guys already doing this. They're called Sorella. But yeah, it's interesting to see.
Technical Insights on Blockchain Building
I think it's something new. I think it still has, it's still being researched. It's not perfect, but it's definitely something probably, like, worth checking out and like. Yeah, like, I think. Do you know, pago, do you know if like, in terms of like, how they, how they, like, ensure the ass is that like what they have like a dedicated block builder or something? And that, and that block builder will like submit like, transactions for that application to a sequencer or like, to consensus.
Understanding Transaction Sequencing
So I think if you have like a sequencer, it's probably easier because you don't really have validators or like proposers. So it's like ten times easier. But I feel like the apps are going to be the ones building blocks. So the app is going to be its own block builder, technically. And then I don't think there are going to be like block builders necessarily. They're just going to submit like, bundles to proposers for block inclusion. I think that's how it's going to work. But, yeah, I think it should be significantly easier if you're doing it on the Yale too, because, well, technically they have a sequencer, so, I mean, nothing.
Latency and Competition in Blockchain
Maybe there is like, what do you say, Liam? You say something latency, less competition. Sorry? Like, for the blockbuster. I mean, not necessarily, but it's like, I feel like it's not about competition, but it's more about like, if you're doing it on the l one, you're technically submitting it to the block proposer. So, I mean, there are still like timing games and like, man, like, what happens, for example, like, one of the critiques on us is like, what if, like, you submit a bundle and like, the blog proposer, like, chooses not to include it because there's a more profitable bundle?
Challenges and Dynamics of Proposal Systems
Like, that could happen. Like, you generally, like, if you're doing it on the l one, at least on ethereum, I'm not very familiar with, like, this space in Solana, but my guess is it's sort of similar. You need to like, kind of like bribe the proposal. That's just how it works. That sounds bad, but it's just how it works. And on the l two, you don't really have that. You're just submitting the bundles to a sequencer. So it should be easier. It should be. Also, I guess you might have to pay an inclusion fee or a priority fee depending on which chain you're on.
Benefits and Applications of Sequencing
But I think it's still better than doing it with the proposal. Probably. Yeah. Are there like, are there like, or actually maybe like what are the like alleged benefits to it? Is it just like that? Like a app can like build a block around like sequentially? What? Like, like sequential transactions? So like one transaction that relies on another for execution, is that like the intent of it? So there can be like some like atomicity or something.
Economic Implications of Sequencing
So I think the intent of it is more like economical because it's like, it's, I feel like it's a way for apps to like potentially accrue back value to like token holders or users. Meaning like. So for example, like if I'm using uniswap and I'm making like a lot of swaps instead of getting me be by a random builder, probably if an app handles its own MEV and it has its, I mean, this is not implemented, they're figuring out how to actually implement this. But if they implement this in theory, you're going to be able to accrue back part of those transactions to you as the end user.
Achieving Fair Market Dynamics
And I feel like for apps, it's good for them to capture their own meV. And I think that's your question, but maybe I. Sorry. Yeah, that makes sense. Yeah, like for apps capturing Mev. Like that makes sense. But I feel like I don't want to sidetrack cool crypto from his flow. This is just like me kind of. Yeah, sorry, sorry. Cool crypto for the, for the, for the introduction and I saw that.
Importance of Community and Collaboration
Oh, no, you guys are good. You guys are good, man. As is always an important topic, man. Dude, sure, bro. I'm ass guy all day. As long as it's from the opposite gender, I'm golden. I'm golden. We good? We good, we good. Dude. I did, I feel like I need to like explain the context of this call to my girlfriend, like after it. So she did, who's literally like in the other room right now wondering, why.
Communicating Complex Concepts
Are you talking about spaces? I think if you tell someone that is not into crypto, like, and you're like, oh, yeah, like us first, they're going to look at you like, what the fuck? And then if you tell them like app specific sequencing, they're going to be more like, what the fuck? I feel like. I feel like if you try to explain it's just going to make it worse. That's what I think. Yeah, yeah.
Continuing the Discussion
All right, cool. Crypto, back to you, brother. I got, yeah, just gonna just couple more. Manta network also post about five gb on celestial. So the use of celestia is mass. I think we have about 45%, 48% of all da in crypto, which is crazy. I think that use might be even more when the lemongrass upgrade goes live and once we increase the block space. So the use of celestia is super legit, man.
Future Developments in the Ecosystem
We do have sunrise layer with 230,000 active wallets on testnets. I think sunrise we go on live pretty soon another celestial slot and Tia online, project union also they had have a collab with native network to bring bitcoin into the ecosystem. Okay, that's cool, man. But so far the margin ecosystem is growing rapidly with many teams joining together to scale crypto, which is freaking awesome. It's all about collaboration, just not.
Profitability and Community Benefits
You can't win alone, man. The more you bring a projects together, the better I think, you know, it is for the ecosystem and I think for all slots, we are going to benefit immensely from this. If you are slot holder, you're going to benefit immensely from this unified, modular new crypto ecosystem that's grown right now. By the way. Nothing of this is financial advice.
Understanding Advice and Collaboration
This is bro tips, pro tips, bro tips. Not financial advice. No financial advice. I'm not telling you. Go to go sell your kidney. Go buy anything. We just, we just chatting here and. Okay, I did see that the union, another union team member just bought a slot like a couple hours ago, which is pretty cool. So the NFC, we're leaders leading the IBC big three, which is slots, the math scientist and back hits.
Personal Insights on Investments
So I'm bullish, stuff like crazy. I'm thinking about buying more, man, the moment I get a chance to. But I might never be able to sell this thing because if our protocol keeps getting aligned, if you don't even know what I'm talking about, there's no reason to sell my slot. I might hold it forever. Yeah, you know, it's very hard for me to sell nfts because I always buy them and then I'm like, okay, at some point I'm gonna sell them, but then they, if they go up and I'm like, okay, I actually really like this NFD.
Growth Patterns and Future Predictions
So I never saw them. Yes. It's crazy because Paco Daw these thoughts. I've never seen an NFC collection that's been, that's like this. This is, this is a malt, a multi chain NFT, which is very similar to the penguins in a way, but the emotional ecosystem is growing so fast and when these protocols come out, they definitely, they're going to show some love, I believe so. I've seen it in the background, so definitely looking forward to that.
Concluding the Discussion
So we have about like 25 minutes left. I'm going to give it to Liam to talk about fair block. I definitely want to hear about what was going on with the building, what's coming up, what to expect in future, and how does fair block integrate or advance or scale apps in crypto? So, Liam, the mic is yours, bro. Cool. Crypto. Thank you for having me.
Understanding Encryption and Fairblock
I do know a little bit. I know it's, it has to do with encryption and privacy. Am I correct? Yes, I do know that. But I think the question for me is how. How does fair block, how do they integrate with other projects? Is it multi chain? Is it just on Celestial, is it. That's kind of questions they have, but the mic is cool. Cool, man.
Overview of Fairblock's Purpose
So I think the general, like, high level description of what Fairblock is, we are an encryption provider for blockchains. The way that we are thinking about, like, why this is important is that, like, there are so many use cases for, like, encryption and confidentiality in the real world and on the Internet, not only like in, like, financial use cases where, you know, I send money to my buddy Paco for, you know, like, send them $10 or whatever, right? In the real world, like, this is encrypted on chain, this is not. But beyond DeFi, there are, like, a number of applications on the Internet. Actually, most of the applications on the Internet that we know and love, that require some sort of confidential application logic in order for the app to function.
Real-World Applications of Encryption
So say, like, any encrypted messaging service, say, signal or telegram, where messages are encrypted for only those with the access key to access. Same thing with subscription-based applications where the content behind the scenes is encrypted by some sort of paywall that once a user has proven payment, that content is then decrypted and shown to the user because they have rightfully gained access to it. And there are a lot of other use cases, especially in gaming maybe, where if you want to play online poker, a very important piece of that, the functionality of online poker, is the ability to keep your hand private to yourself. Same thing with, like, blackjack. If you play blackjack online, like, it's really important for the dealer's hand to remain encrypted until, like, after all the users have, or, like, all the players have, like, you know, finished their hands.
Encryption as a Cornerstone of the Internet
Right. Any other game that you play, like, there is likely some sort of element of encryption involved. So we believe that, like, encryption is like, a cornerstone of the Internet. And if we expect that any or. Yeah, if we expect that any real and legitimate Internet application can actually come on chain and live on chain and be sticky enough to attract real users, then we have to expect that there are some real standards that are brought over from the traditional Internet on chain. And one of those standards, like, those who are familiar with Internet architecture, it could be compared to HTTPs or TLS. There needs to be standards that are brought over that we have to show why, or we have to, in crypto, respect the fact or respect why these standards were established in the rising of the traditional, the Internet.
Developing Encryption Standards for Applications
This is what we're working on is we are working on encryption standards for blockchains such that application developers and users can have some sort of standard for encryption tools that they can rely on in order to both keep whatever user information safe, as well as application logic that needs to be encrypted and kept confidential as well for the proper execution of the app. This is what we do at a very high level. I'll pause there before I get into, like, why we are, why we're, like, working with Celestia, and, like, are bullish on all things modular. Does anyone have any questions? Anyone either, like, cool crypto, Paco, or people from the audience?
Live Integration and Future Questions
Yeah, I do. I do have one question. So when. So are you. When. Whenever you guys start to integrate, are you. Are you. Is there. Is already live on Lester already or not yet? So we. We're live on testnet. Okay. And another question is. Oh, no, I was just gonna ask you. I see, like, I'm not an expert in cryptography, like, any means, so I see, like, so many, like, acronyms, you know, like, CK, FHE, IV, whatever else. Oh, tease. So it's like, how, like, can you give us an overview of, like, how do these, like, merge together and, like, what it.
The Role of Privacy-Enhancing Technologies
I mean, like, I know this is, like, slightly, like, maybe like, a little bit more technical. But like, what are, like all these things that we see like out there, like useful for? Because it's like, that's one of the main things I see nowadays, but it's like I just haven't like dived that deep into it. Yeah. So all of these individually, like, are in their own, like in their own way privacy-enhancing technologies. ZK, on the other hand, is, I would say, more of a scaling technology than a privacy-enhancing technology that can be used for privacy. I think, like the point of this though is that Paco, like you said, bro, there isn't a reason why you as a guy that loves sloths should ever need to know what ZK is, what FHE is, what, like, all these advancements in cryptography are.
User Focus in Blockchain Technology
The general thing that you should know is that, like your usage on blockchains, what you do on chain is reliably protected. And that's what each of these things can individually do, like plugged together, like where NPCs are combined with TEs that are combined with ZK that have some sort of FHE roll up. Like those details, those will never matter to end users. The only thing that matters to end users is their confidence that what they do on chain is protected to only be accessed by parties that they give approval to either themselves or say their bank or trusted parties that they've given maybe access to cookies or something. So, yeah, this is like the TLDR of that.
Explaining ZK Technology
I feel like to get into each of that specifically, Paco, like, I don't know, man. If you got. It's complicated. I know it's complicated. If you want to talk about it, then we can. But I can also just link this article that I wrote about kind of like how these solutions should be plugged together in a multimodal way to deliver like the most privacy enhancing and trustless approach to confidentiality on chain. Okay, I think the way to go here is you're gonna blatantly shield your article into space and you're gonna paint it, and then we're gonna try to keep the space more left here and continue talking.
Questions and Engagement from the Audience
So anyways, yeah, I tried to keep that explanation left curve. Please tell me, like, is there any questions that I can answer or anything that I can make more clear? Thank God crypto had something to ask. Yeah. Yeah, I think you asked my first question, which was you said, guys on testnets already, when is mainnet? I mean, of course you guys have to know when that is, but an estimation, is it by Q four? Q one of next year? What do you think, bro? Yeah, Mainnet is going to be in Q one of next year, so, yeah, we're super pumped for that.
Plans for Partnerships and Integration
I'm personally cooking up a lot of our day one partners right now from the VD side. And, yeah, in terms of how we relate to Celestia. So we think that was part of one of your initial questions. We initially built a module, like an encryption module that can be plugged into any cosmos chain. And as Celestia is built with the Cosmos SDK, this module can be delivered to Celestia, but also any chain, not just Cosmos SDK chains, but any chain that wants to use encryption this can be delivered to.
Broader Integration Beyond Cosmos
Yeah, maybe to quickly elaborate, like. I don't know. I think there definitely gets to a point where maximal modular expansion may not be the most productive, at least in the short term. We still need to respect the fact that there are a lot of active users and liquidity and apps and developers in these thriving ecosystems like Ethereum, Arbitrum, op, Solana, like, wherever else. And for us to kind of like. Or. Yeah, for like, I don't know, a lot of people that, you know, make some sort of big technological advancement like that doesn't always mean that, you know, we can justify that with, like, another chain, because the reality is, like, do.
Engaging with Existing User Bases
Do users care about these very specific capabilities enough to bridge from their favorite app on Arbiterum or Forma or, like, somewhere else to get some sort of interesting cryptography? So anyways, this is our thesis that encryption needs to be delivered to existing chains. So we're not building, like, our own ecosystem by any means. We're simply, like, allowing others to unlock what's possible on chain by delivering encryption to them.
The Importance of Privacy in Crypto
Man, that's pretty cool. That's a very cool what you guys are doing there. So I do have a question. So you'd only. Only mentioned. So it's available only for IBC chain for now? Or you think you guys might be multi-chain into Solana, into other blockchain or just for now you have focus on IBC only? No, no. So we're working on at least, like, every EVM and IPC connected chain right now. We're also hooking up some solutions for Solana and for some alt VM chains.
Broader Vision for Encryption Integration
So, yeah, like, the design space for this is pretty large. So, yeah, like, we're definitely not isolated to. To just IBC connected chains or just EVM. We can really go anywhere you. I think the concept is pretty shit, man, because like I said, encryption and privacy is important in crypto because everything's open. Everything's open. Everyone sees what everyone's doing on chain. And it is. To answer it honestly, sometimes I have to, because I do giveaways all the time.
Maintaining Anonymity with Multiple Wallets
I have to create a new wallet to send funds to people because if I use my real wallet, they could track it, which I don't want people to know what I have in my. In my wallet. So it's just. Yeah. Yeah, man. It's, it's. It's a concern, man. Like, it's. It's kind of hard to expect that. That. That any one legitimate will, like, you know, accept the transparency risks of coming on chain if they know that everything that they do is going to be revealed to everyone.
Confidentiality and Institutional Trust
Like, we can't expect that institutions with, like, really sensitive, like, healthcare data or banks or like, school systems or anyone, like, will use blockchains as, like, either, you know, more efficient, like, transport layers or. Yeah, like. Like. Yeah, transport networks, I guess, or trust machines, whatever you want to call them, or. Yeah, or that any, like, institution will, like, trust blockchain, like, data storage unless there's some sort of, you know, confidential elements to it.
The Challenge of Confidentiality in Blockchain
Yeah, it was definitely, like, the way that I see it, and I've heard others talk about this before, is that, like, the absence of confidentiality on chain were blockchain's original sin. And Vitalik agrees with this. He tweets about it a ton. But there's just, like, really no practical solutions just yet. Because in most cases, financial incentives have, like, pushed all the new advancements in cryptography and privacy towards their own chain, which in reality doesn't serve, like, the maximal amount of users or developers.
The Future of ZK Technology
So, yeah, that's why we're building them. What do you, what do you think about the whole, ZK tech in crypto? I think. Isn't that supposed to also help with, some kind of aspect of privacy? Right, yeah. So, so the, so, like, the way that I see it is that ZK is a lot more of it. Like, is a lot better of a scaling solution than a privacy solution.
Understanding ZK's Role in Data Handling
And the reason being is that, like, ZK is a compression technology, and what it does is like, it compresses data, whether it's like, block space data or some other form of data, to a, like, much more. Yeah, to like, a much smaller kind of, like, load or. I'm not sure what to call it, but, like a much smaller kind of, like, storage mechanism for, like, proofs of something on another chain or like, whatever else, you know, like, that proof is being used for or whoever that proof is being shown to or, like, being verified by.
ZK Technology and User Experience
Right? So what it does, like, is it creates, like, proofs that something happened, but there's no actual, like, broken down data around, like, each thing that happened. And if you think about, like, the Internet today relies on corporations that, like, are or. Yeah, corporations that, like, use our data in order to, like, maximize or, like, increase user experience somehow. And regardless of, like, what people's, like, opinions are on that.
Risks Involved with Data Privacy
A lot of people, I'd say most people, like, give some sort of consent to big organizations, whether it's Instagram or Facebook or Amazon, to track their search history or like, what they do on their devices and in order to, like, customize their search experiences, whatever. This is obviously, like, super dangerous, don't get me wrong. But like, a lot of the apps that we know and love today, for example, like Amazon or like, Instagram shopping, right? Like, they're reliant on, like, you know, consumers ability to pass data from themselves to some provider that's going to give them some service.
Limitations of ZK in Current Applications
And so, like, you can't really do that effectively with ZK because you can't, like, undead unbundle or unwind the data that's in a proof. You can prove that something happened, but you can't really do much with the data. So to have a fully ZK based privacy ecosystem on blockchains, to me at least, sounds really unrealistic. Which is why we need these alternative, like, cryptographic schemes and encryption solutions like FHE and IBE or like even just simple like, asymmetric encryption that allow, you know, people to actually, like, do something with the data that they generate.
Seeking Clarity in ZK Technology
Does that make sense? That makes a lot of sense. That makes a lot of sense. Cause I always used to get that confused. You know, ZK zk way. It's, it's more about scale, it's more about scaling than, I mean, there's some privacy, but more about scaling their privacy. Like, yeah, yeah. Like, you can use ZK for privacy things, don't get me wrong, but like, for the use cases that, like, most users care about on the Internet, like, ZK just isn't the best solution for it, but for like a, like, fully private type thing where like, you don't want anyone to ever know what you're doing.
Final Thoughts on Privacy Solutions in Blockchains
Like, ZK, like is a really good solution for that. But in terms of like, a Internet with, like, composable data, it's not. That makes a lot of sense. That makes a lot of sense. Liam, I appreciate you. Anyone else has any questions for Liam about Fairblock, you're welcome to request the mic. We're probably going to end the space in about maybe 10-15 minutes. But it's been a good space. I learned a lot from Liam and we did talk about some so really cool things that's happening on the ecosystem and smart holders, definitely.
Encouragement for Engagement with the Ecosystem
You guys, you know, guys. You guys are awesome guys. Amazing. but yeah, man, I'm bullish, guys. Like this ecosystem is. It's so crazy because I think what's happening with lesser is this. I know there's so much more going on with the ecosystem, but the average individual is, focuses on the price of a token as a way to judge how the ecosystem is growing and which makes no freaking sense because I'm like, there's so much going on within this lesser ecosystem.
Broader Perspective on Ecosystem Growth
Like, don't just look at the token price. That doesn't. Those are traders. Like, I try to educate people all the time. When, when you see token price, whatever. If that's the traders doing their trading, the ecosystem itself, there is so much going on. It's not just with Celestial. Multiple other blockchains have the same thing where the ecosystem is thriving, but the average individual, they have no clue. They just look at the price. Oh, yeah, they're not doing anything.
Addressing Misconceptions about Ecosystem Activity
I'm like, are you crazy? Do you know what I mean? This, this ecosystem is blowing up, right for my eyes, man. I mean, protocols are using less like crazy and I. And that's why I'm freaking bullish, man. Absolutely. Paco, do you have any questions for Liam or anyone else in the audience? We questioned Mike, if you have any questions for Liam about Fairblock.
Introduction to Fairblock's Collaboration
Yeah, I have a question for Liam. So there is something that Fairblock is cooking with forma that maybe we're going to talk about in this space. But I'm going to let Liam. It's a very nice use case that actually like very Warlock enables that. I don't know, I'm kind of like very excited because also I was like one of the people that came up with the idea.
Discussion on the Use of Encrypted Auctions
It's like, so I'm gonna hand the mic to Liam and then maybe he can or he cannot talk about it or he's gonna hype it up. I'm not sure, but I'm gonna hear what Liam does. Yeah, I think, dude, like, yo, free rein here. Let's go. So yeah, Paco, you might have like, because you're the one that cooked this. Let me know if this is what you're referring to, but this is my understanding.
Fairblock and Forma's Collaboration
We're, like, we're making or. Yeah, so Fairblock is plugging into Forma to provide, like, encryption to, like, Forma applications. And one of the applications that we're building with Forma is a sealed bid auction for NFTs. So, like, people can auction off their NFTs and have their bids be encrypted such that there's no front running risk by the auctioneers in the auction to front run each bid based on, like, their ability to have what's called the last look before submitting the bids and, like, choosing the winner of the auction.
Addressing Front Running in NFT Auctions
So the last look problem is another form of MEV that is prevalent in, like, any auction on chain right now that doesn't have encryption. So we're bringing this to Forma. We're really excited about it. Yeah. So go use Forma. Like, they're also homies, too, by the way. They're great people. So whenever. When Forma goes, lives, like, actually Forma.
Clarifications on the Status of Forma's Mainnet
Is Forma live on mainnet? No, it's not. It's on testnet, right? No, I can't say. Well, technically it's also. Technically, it's live, but I think that actually, I mean, like, I think like, it's like half and half. Okay. Because it's like, Valerie is actually live on Mainnet and that's on an app on form.
Understanding the Current State of Development
Yeah. Yes. Okay. But it's like, I know Forma, like, the chain where you can, like, I don't know, whatever. And, like, sell your NFTs. That's not bad yet. So, Paco, that was the. That was the thing that you referred to. That's what I was. Yeah. And I'm very excited about that. I think it's pretty cool to see.
Innovations in NFT Auctions
And also, like, super novel. I feel like that's something that you've never really had before. Yeah, bro, it is. Also, if you've been following Shane from Stargaze on Twitter, maybe there's beef there, maybe there's not. But Stargaze is also doing something very similar with sealed bid auctions for NFTs. He's been tweeting about that recently. So that's also powered by us.
Appreciation for Collaborations in the Space
Man, you guys are everywhere. Yeah, no beef with Shane. I really like Shane.
Casual Conversations and Plans
Yeah, cool. Cool. He is a good dude. I like him, too. Yeah, man. You guys are cooking, man. That's what's up. That's what's up. So we have a couple of. A couple of minutes left. So anyone else has a question come up, but in the meantime, we could chitchat for, like, 510 minutes. just talk about what we doing this weekend. What was the plan? I don't want to end this page. Just talk about Celeste. Whatever. We talked about that. And, so far, everything looking good. So, what you guys doing this weekend is a Friday. Any plans? Is all work? Is it grinding? Is it relaxing? Is it running nose on the beach? What do you guys have planned?
Weekend Plans Discussion
Mandev, bro. I'm camping tonight, which I'm really excited about, and then back to the lab tomorrow morning. So getting my camp in, getting my fresh air right now or, like, later tonight and then getting back to work tomorrow. Gotcha. Gotcha. Yeah, I think same. I think tomorrow, actually. Tomorrow. Like, I don't have any, like, specific plans. I might have to sync with sake on some stuff, so. Yeah, that should be fun, actually. But, yeah, probably work and hopefully I'll do something. Like, the cool thing about New York is that there are a lot of things to do and you can sort of, like, decide last minute. I'm also, like, not very good at planning, but, yeah, I think it's to be a mix between work and pleasure.
Reflections on Past Social Life
But, you know, guys, it's script. Unfortunately, even though we're lazy, we never sleep at the same time, so. Yeah, gotta. Gotta cook. Yeah. Yeah. So my weekend. My weekend. We are planned. I do have some family around, you know, I do have small, little kids that they. Little. Little. But to me. But they. So there. I guess he starts a basketball. Basketball tournament tomorrow, Saturday. So looking forward to that. We do have a. Like a. Like a mini court at the house. So we practice it. I'm like. I'm like a coach, man. That's crazy. I'm coaching this dude, this little kid for the past, like, couple of weeks, man.
Adjusting to New Family Responsibilities
So we'll see how he plays tomorrow. But. But, you know, when you. When you marry, sell down your. Everything's different now. Like you're. You're. You know, you're not doing things like you used to. When I was single, it was all about Friday and Friday. All the homies get together. We go to the mall trying to get numbers. We get dressed, go to. We go to nightclubs and. And, you know, trying to get as much numbers as possible. But I was. That was the go back there. But now, once you get married and you have kids, the man, life is too. That. Life is so easy now.
Marriage and New Priorities
You try to get as much air drops as possible. Yeah, it's shifted from numbers to airdrops. Are you married? You know, and all that you sell down. Are you still. You still on the market, bro? Oh, he's married. He's married. Yeah, man. I actually. I'm married. I'm about to have my first skate. Yeah, let's go. We're joking. We're joking. We're joking. I'm single. It's a joke. No, no, I'm not. I'm not married. I'm not married. Not yet, but, yeah, dude, like, I'm on the single stage now. It's very fun, actually. No complaints. I really like it. And, yeah, I would give some advice, man, is I'll say, just a house of fun, man.
Advice on Relationships
Don't rush into anything and just have some fun. And I'll say, don't, you know, don't. Because we in crypto. Our wealth is gonna grow over time. Don't show the ladies how much. How much liquidity you have at the beginning. Let the act poor so they like you for. For sloth, man. I a rich slot. You don't want to hook up with a girl that's in love with you because you're a rich slot, man. You need to be a poor sloth in disguise. I agree. Also, now there is only quiddity to show, so it's all on the market, so nothing to show, you know? So it's like, it's.
Finding Genuine Love
I'm locked in and. Yeah, no, I completely agree, man. You have to fight. You have to find someone that loves you for who you are. Right? That's the most important thing you can ask Liam about, man. He knows a lot about this stuff, so. Yeah, dude, completely aligned with you there, you know? Completely aligned. But it would be cool to have kids and play basketball with them, you know? Liam, I see you had a girlfriend for a while. A short term thing, bro. Going on four years now. About that time. Oh, that's serious, man. That's not. That's not.
Building Serious Relationships
That's serious stuff. Yeah, man. That's not my brother. Before I get married, he's gonna get married, dude. Yeah. Next bull. Next. Next bull. We'll see. We'll see, man. Yeah, man. It's start. Starting to make some plans for the future right now. hey, she's a great lady, you know? she loves me for who I am. she thinks I'm an idiot, and I love it, man. It's great. It's great. Yeah, yeah. It's. It's. I'll say it is. It's because, in 2024, can I.
Future Aspirations
I don't know if I hear you guys. Yeah, I can hear you, Paco. Well, I can hear you, Paco. I hear you. Yeah, I was gonna say, like, the 2024, you know, it's a different environment now. Being a single person, I think you're. We're living in as social media, so it's. The game is different, you know, trying to find ladies or guys date. So I would. I would say, man, like, if you find a good one, it's important to hold on to them. It's not. It's not easy to find, I'll tell you that. Right?
Navigating Modern Dating
Yeah, bro. It's not easy to find. That's. That's for sure. But, hey, the homies out there in the crowd don't. Don't have either ladies or guys or anyone that you guys love, right? Be patient. Be yourself. That shit will come when it comes. And. Yeah, no doom scrolling. That's. Yeah, that's my close right there. Be lazy. Be lazy lads. Yo, yo. Thank you, guys. Paco, Liam, I appreciate you for coming to the freaking space, man.
