Space Summary
The Twitter Space Tork Labs x Moved Network hosted by Tork_Labs. The Twitter Space with Tork Labs and Moved Network delved into the #AMASpace, #Giveaway, #DAO, and #Airdrop topics, emphasizing partnerships, community engagement, DAO governance, and collaborative efforts within the crypto industry. It showcased the significance of alliances, interactive strategies, decentralized decision-making, and token distribution methods. This collaboration exemplifies the spirit of teamwork, innovation, and community involvement in advancing blockchain projects.
For more spaces, visit the DeFi page.
Questions
Q: How important are partnerships in the blockchain space?
A: Partnerships are crucial for expanding networks, sharing expertise, and driving innovation.
Q: What value do AMAs and giveaways bring to projects?
A: AMAs and giveaways enhance community engagement, visibility, and create excitement around projects.
Q: Why are DAOs gaining popularity in crypto projects?
A: DAOs offer transparent governance, community involvement, and decentralized decision-making.
Q: What is the purpose of airdrops in the crypto space?
A: Airdrops help with token distribution, marketing, and rewarding community members.
Q: How do collaborations between Tork Labs and Moved Network benefit the industry?
A: Collaborations showcase synergies, expertise sharing, and innovation in the crypto landscape.
Highlights
Time: 00:15:42
Importance of Strong Partnerships Exploring the impact of strategic alliances on project success.
Time: 00:25:18
Community Engagement Strategies Discussing the effectiveness of AMAs and giveaways in interacting with the audience.
Time: 00:35:51
Decentralized Governance Models Understanding the role of DAOs in promoting decentralization and transparency.
Time: 00:45:29
Airdrops and Token Distribution Analyzing the benefits of airdrops in growing token communities.
Time: 00:55:17
Synergies in Collaborative Efforts Highlighting the strengths of joint initiatives in the crypto sector.
Key Takeaways
- Partnerships play a vital role in fostering growth and innovation in the blockchain space.
- Engaging with the community through events like AMAs and giveaways boosts visibility and interaction.
- DAOs provide a decentralized framework for decision-making and governance within crypto projects.
- Airdrops serve as a marketing strategy to distribute tokens, increase awareness, and reward participants.
- Collaborations between Tork Labs and Moved Network showcase the power of teamwork in the crypto industry.
Behind the Mic
Introduction and Initialization
All right. Hello? Yes, I can hear you. Oh, great, great. Yes. All right, great. And I think we can start now because we are two minutes behind schedule. So can we start now? And I would like you guys to kind of make a retreat of the space so your community can kind of know that we have stuff because I can't really see the retreats about it. Did you get me? Yeah, yeah. Please, everyone, show some excitement. I really like excitement in the channel. And also share the space with others in your group. Let's make it a big one. Alright, guys, make sure to tag a friend. Make sure to retweet the space because we would be having a giveaway for the active participant. So, I would like you, throughout the course of this ama, to maybe send in some emojis. Just flash something, just get a space. Engaging. So, can we start now? Let's see.
Gathering Participants
I mean, let's see how many people are here. I'm not sure if I'm excited yet. I need more people. All right, let's. Let's wait. Yeah, let's give it maybe two more minutes and so more participants can join in. So in the meantime, guys, everyone, I would like you to tag a friend. I see all of you. I see you, Sam. I see you, block. Oh, I see you, black. So I see everyone. please make sure to send. I see you, Lord. She wrote, I see you, Stella. I see you, striker. Joe. so please make sure to send to tag a friend. Cause I mean, it's a really exciting section today. Yes, yes. I see some. I'm already originally from Tur. I see Tolga, Toga. I expected to bring some turkish folks into the channel.
Engaging the Audience
I see some other folks. I see Deviko, Janet. Like, I'm only going to name the ones that are just showing a thumbs up or like, you know, some excitement, please. Bull run, Maggie. Striker. Striker. You're back. I love it. Fig and lord. My lord. He's here. Diana. Jackson. Danu. Stella. Oblock. Oh, my God. Group is going crazy. So let's. Let's make this one a big one. We have a lot to share about move network. There's a lot to learn. Also, we have some giveaways. Yeah, I'm excited. Definitely, definitely. So I think we can start now. And during the course of the AMA, more participants will join in. Is that fine? That sounds great. That sounds good. Let's do it.
Introduction of Team Members
All right, great. And can we start off by you introducing yourself and your team member? So I can maybe address you by your name throughout the course of the AMA. Yes. So my name is Blent, or Blent. I am originally from Turkey. Turkey. But I live in the United States for almost two decades. And my background isn't actually in technical. So I was a computer science technical, very technical person. But I do business also, you know, right now as a CEO of move Network and my, I like to keep things minimalist and simple. So team. I keep the team simple. We have a very heavy development focused team. We're a total of six people right now, and four of us are engineers.
Team Structure and Roles
I also do the business side. We have a marketer and a designer, and the business and the marketer and all is just to support the ecosystem, to support the development of the company. And we're working really hard to get the project finished to at least to Devnet right now. And then marketing is just helping us with the different ecosystems and designers. Our design is fantastic. So he has over five years of, like, crypto design experience, and he just. His first draft is our website right now. If you go to move.net work, that's just the first draft. It's beautiful. I can't. Like, he already has a second version and he's going to have a third version by the end of the year. So very excited. Very talented guy.
Marketing and Development
The marketing guy managed, like, over ten accounts, ten social media accounts in the past, parallel. So he's like, super talented. Our development team is, like, you know, principal engineers, like, senior engineers, principal engines, like, have, like, nine. Over nine years of experience in the crypto space. Long time in crypto space. So very talented team. So everyone is, like, quite excited. We have a bit of an investment to keep the team going. I don't want to disclose the amount because we're still raising. And so, like, the team is continuing, you know, everything. Everyone's pretty happy. So we're very excited. that's really amazing.
Experience of the Team
I mean, five, nine years is quite a long time. So, I mean, the team is really experienced from what you've said. Now I'm moving to the next. And. Sorry, I didn't really catch the name. You said billad or black. I didn't really catch the name. My name? Yep. My name is Blanthe. Oh, Bella. Okay, that's great. That's great. Yeah, I'll. And now moving. Oh, yeah. Moving to the next question I have. So, the AMA would be in two sections. The first would be the introductory section where I get to ask you a set of questions, which I have. And the next section would be the community live segments.
Structure of the AMA
And now going from the first section, which is the introductory session. So the first question which I have is, what is move network all about and what actually inspired its creation. Yeah, so, yeah, we actually, there's a story behind the existence of move network. And so move network, just say what's moon network. Move network is a layer two blockchain that runs move smart contracts on Ethereum. Excuse me. The settlement actually happens on Ethereum. Security is handled by Ethereum. And then because of that, you use typical ethereum tools like metamask or like typical Ethereum wallets. Download a new wallet. You don't download a new tool as a typical ethereum system, but everything.
Functionality of Move Network
The users will not know that it's not an Ethereum system blockchain. People will say, oh yeah, it's an Ethereum blockchain. But the developers will know that this is a move blockchain. And that allows people to build very secure projects, because movies are proven to be a lot more secure than other smart contract languages. And not only because of the language, but also the way it works, the resource management, resource allocation, resource management is done more secure. So we bring basically the move security onto Ethereum directly without changing Ethereum without like, by making it super easy to use. The story of it is actually. So I've been involved with Michael and I have been involved in the movie costume for about two years.
The Journey of Move Network
And during this time were thinking about, this is great, but Ethereum is big, should be on Ethereum. But how, we had no idea how to do that. But later we built a few projects, let's build some stuff on move. We started building a few things, then doing that once we launched our projects before and we started talking to people, developers from different ecosystems, and I realized that there's a huge need and impact for bringing the move smart contracts, move developers onto Ethereum. People basically told me directly, hey, I want, I'd like to build a move, but I want to be on Ethereum. How do you do that? So when the people request that, you're like, you know what, there's some impact here.
Community Driven Approach
And I also some loves here in the channel. So this was kind of requested by people and we're just building it for them. And we did different experimentation, different ways of building it. It evolved, evolved. And we finally settled on this structure this way, like our software architecture, blockchain architecture. And we're very excited about, you know, the future of it. I see some excitement in the channel Sam. Yes. So, yeah, so that's pretty much the story of our blockchain. That's how we started and, yeah, so, you know, there are details here, but it's kind of a two year journey for us.
Closing Thoughts
But we can talk about them. Hey, north, did I lose you or are you still there? Hey, north, are you still there? Am I, is the problem on my side or your side? I think he's having some technical issues, but he'll be back soon. But let's show some excitement in the channel so that when he comes. Yeah, he's coming in. He just messaged me. He says he's coming in. Let's just surprise him with some love on the channel. Let's do some loves.
Introduction and Team Dynamics
Thumbs up and 100% yes. So when he comes, he's gonna be shocked to see what is happening. Yeah. Yeah. So my team member, Martin said that, like, everyone can hear me. but he, we lost him. And he also said that too. So he'll be back. So I'll probably talk, I can talk about the, a few of the journey, how we came to this project. And then he's just gonna kind of, I think it's gonna be his next question, but when he joins, I want to request it again. I want everyone to like, show a lot of like, love to surprise him. So we basically chose our project to build optimistic roll up because we actually have started with Zkhdem roll up and then we switch to, hey. Okay, let's show some love, everyone. Let's surprise him a little bit. I think he's back in.
Patience and Structure
Yes. I see a lot of excitement. Let's be a little patient, guys. Let's give him a minute. I can run the AMA. If things kind of don't work out just fine, we can continue. No problem. But let's wait for him to undetect the side. He gets things sorted out. Oh, great. Now I do. Oh, sorry about that. I mean, x really kicked me out. So, Great. So I think we had the first, we talked about the inspiration about and the motivation about its creation. Now I think let's move to the next question, which I have. And guys, remember, our guests would be picking participants to ask their question. So, I mean, he would definitely be picking those who he has seen active. So this is your chance to react. Send in the reaction. Send in the request. Just keep reacting. So our guests easier.
Transitioning Projects
Now, moving to the next question, can you tell us about the transition from optimistic roll up to ZK rollup on the op stack? And why did you guys actually make this transition? Yes. Yeah. Very, very good question. Because this took us, I would say about like six months to go through. We iterated and actually did like four iterations to get to this point. And I think were finally like settled and be like, okay, this is the right solution. So we wanted to have the, so move language is a very good fit for ZK computation, actually implementation. ZK implementation. So what we wanted to do is, you know what we'll say, like, let's, let's just build for the future and build with ZK. Fine. And ZK provides a really fast finality. And so we started building that and we actually have a ZK move version working, to be honest. It actually started work and we have a blockchain that works.
The Challenges of Implementation
But we showed it to people and then were in there was just a lot of problems. The transactions were taking in like three to five minutes. And we said, okay, well, we can improve it, make it like one or two minutes, but still, like, you can't wait for one transaction for 1 minute. That's just ridiculous. A lot of tools in ZK were not mature like they were in beta a lot of times. So that was another problem. And so another thing that changed along this time is that the danker update on Ethereum happened. Dan Coin is basically the optimism uses like storage on Ethereum to keep the transactions, like oral transactions. So in order to do that, you know, optimism pays money, pays fees to Ethereum to keep the data because these layer two solutions become very popular.
Adaptations and Solutions
Ethereum came up with a new update lowering the cost of storage by making, creating a new type of storage, which is temporary storage. And optimism doesn't need the transactions to be stored like full time, like forever. It just needs it for one week. And that's the, for the settlement. And so what happened was this Ethereum came up with a one month like 30 day data storage solution and that lowered the cost of transactions away, way down. And so optimistic rollups became really powerful and strong again. And optimistic role op stack. We looked into it and it was just main net ready. And then there's this super chain with interoperability happening within the optimistic roll up and others optimistic like chains.
Forward Planning and Strategy
So we say, you know what, we can't start optimistic and then realize like, you know, people don't care about the technology people want move language contracts on Ethereum. That's, that's the move. That was the motivation for us in the beginning. So we kind of went back to our roots and then rethought about it and then kind of build it this way. And then we said, we decided to kind of bring in ZK later. And then ZK has its advantages for us. Let's say, let's build our blockchain, let's provide the value to people, we decided, and then bring in the ZK and take advantage of the value, the advantages afterwards. So that's the kind of strategy, we kind of reversed our kind of plan a little bit.
Future Prospects
And this works out really well for us because we're very close to launching and it's gonna work out really well for us and for also our ecosystem. Yeah, we're very excited about that. Really, really amazing. I mean, I totally love this. I could have started. Now I'm moving to the next question, which I have, which is my fourth question. And can you tell us about the security of your network? That is the move network. Yeah. So for security, we actually claim to be the most secure layer two blockchain on Ethereum. And we don't just mean it, we actually are building it. The security comes in, comes mainly from, I would say mainly from the move architecture, move development architecture.
Security and Protocols
So move language has a lot of security features built in on the language level, but also the way it works, the resource management level. So the resources are protected for accounts instead of giving out for the whole smart contract. Let's say one smart contract gets exploited and has a problem. Well, in like, you know, in solidity, that account, some exploiter will, can basically drain everything from the smart contract because the smart contract owns all the resources, all the assets, all their nfts, let's say, are in the same smart contract. Well, if someone accesses a smart contract and a bad actor, they can just drain it. But that's not how it works in move.
Innovative Design
So the, basically the nfts or assets are in the accounts, they're not on the smart contract. Smart contract just facilitates, orchestrates the exchange. So like, let's say the smart contract is exploited. Well, you can't access someone's NFT because it's in their account. You have to get to their account and wallet to access it. So that illuminates the resource, like access resource drainage problem. Another thing is like smart, the type safety of. So move has this technical term like type safety which allows you kind of protect for like different assets and different tokens. So for instance, like let's say in ethereum, let's say you send, you made a typo in the address you're sending.
Eliminating Errors
You know, how many times like you feel very nervous when you copy someone's address and you put it there and you know, you make sure everything is right because if you copy it wrong, that money is gone, that asset is gone, and no one can access it because there's no wallet for that address if you type it wrong. But move doesn't allow that. Move says, hey, this type, that access, that type need to exist and that account needs to be able to accept. So like this is built into the language to be able to like send tokens without losing them. So if you type it wrong, it'll just fail. Basically this has nothing to do with the developer. Developer doesn't need to check anything, it's automatically checked.
Systems of Assurance
So these like, these little things. And then the other thing is like, you know, move has upgradeability. Let's say you found a problem in your contract, well you can upgrade it basically. So let's say you want to check your, you know, do like auditing for your code. Well, move has a verifier you can proof, verifier you can verify. Your code is like going to work correctly. So there's a lot of like built in security features into move and then the account system and other things. The other thing I want to say is like, aside from move, why is it secure? Well, where the settlement happens on Ethereum, I think we rely on Ethereum security.
Reliance on Ethereum
As long as you trust Ethereum, you can trust move network. Basically. At the minimum you don't need to trust move network directly. If you trust Ethereum, you can trust move network because safe security and the settlement happens on Ethereum. So it's kind of a guarantee there. So yeah, we're basically relying on these secure safe systems and then we can build on top of that which makes our project be more secure as well. I think I love the aspects of the approach which you guys are taking towards the security. That's really amazing. And definitely, I mean, community, this is not a financial advice, but I think you guys should kins what they are building because these guys are doing really well.
Community Engagement
And mind you, whatever I said here is not a financial advice, so please make sure to do your proper research. And now going to the last question from my end before we start taking a couple of these guys, sending an emoji and waving. So can you share us? What updates should we expect to see in less than months time. In a month or two months, what kind of update should we expect to see? Yeah, so yeah, we have quite a bit of progress in our timeline. So in the short term we're looking into launching our Devnet like within a very short month or two months, three months of timeframe to get to Devnet.
Product Showcasing
And our goal is to showcase our product, our blockchain to people. And then, and then later we want to kind of in parallel work on the ZK part of our ZK move part of our project. And that's, we're really excited about that. Then in the future, probably later, were actually partnering with optimism to be in there with super chain. So we want to be in their super chain network. So that there's going to be like, you know, exchange from based chain optimism itself and a few other folks. So there's going to be a lot of excitement. There's a lot of excitement there too.
Ecosystem Development
And then I'm more excited about the ecosystem growth, really. We're really putting our efforts, we just hire an amazing, we just got an amazing marketing person, Martin. I think he's in this group right now listening, really experienced. And I'm very excited about growing our ecosystem. And so I'm really counting on him to do great work. You know, we want, we love self starters. You know, if the team group, ecosystem, like people in the ecosystem want to self start new communities, we want to support that. You don't need our support, to be honest with you, because we really believe in our project.
Technical Pipeline and Future Plans
And you're gonna, when you start something with our project, you're gonna organically see the results and the growth yourself. And so we're gonna, we have a few things like on a technical side on pipeline, like we Devnet launch and then Testnet launch. We want to do Zk move and then to lower the finality of our transactions. And then the, we want to participate in the super chain. And then we have other, a few other things in my mind, kind of future potentials. I don't want to mention them too because we're still debating these options.
Building a Collaborative Future
But on the ecosystem side, on the business side, we want to partner with, you know, incubation programs, accelerator programs. We want to grow our ecosystem, get the flywheel of engagement going. And then also we're working already working with some develop move developer ecosystems. We'll probably look into like bringing EVM compatibility into our ecosystem, into our blockchain as well. So that like if someone you have an existing EVm project, we can bring it over. We have some ideas there, but we're going to see, we'll see how that plays out.
Committed to Execution
And then ecosystem growth and you know, I think we have a very solid like simple growth plan and we're just going to continue executing on those. And like, obviously ecosystem people, a lot of self starters and have already like helping right now. I'm very excited and happy for that. So we're looking to partner with more people in this direction. All right, that's brilliant. Yes, yes, I do hear you. All right, great. And now we will be moving to the community live questions.
Community Interaction
And thank you, by the way, for that wonderful answers to the introductory section. It was really brilliant. Now moving to the next segment, which is the community life segment. So can you check the chat you would see right on here on the call, you see a couple of community waving and reacting. So can you randomly pick, call the name of anyone and bring them up? Yeah, okay, let me read some of them. consensus mechanism. All right, let's start with this one. You have to make them live here on the call.
Starting the Conversation
Okay. Yeah. okay, and let's tap on. When you stop on the right, you should see other speakers so you can mic. Yeah, great. That's pretty smart. So, I see. Hello, Austin, can you hear us? Yeah, I can hear you. All right. please, before you ask your question, guys, make sure you must followed move network or you would get disqualified. So, the rules is that you have to follow the move network and you have to follow talk lab and you must have retreated this or you get disqualified. All right, Austin, let's have your question. Yeah, so, what will be the gas token for mob network and how will you incentivize? Developer may wants to build, tap on your network or any type of hack net we can expect launch with your Devnet.
Question Response on Gas Token
Yeah, great. Awesome. Great question. Actually, nobody asked this question, so we are. So the token we're going to use is Ethereum. And there's a reason why we prefer this. It's similar to what, optimism and arbitrum does it too. But that's not the main reason. The main reason is that we want to make sure the experience from users perspective is as easy and simple as possible. So what do people use? Well, they use Ethereum tokens. And on Ethereum, you send over your ethereum, there's no need to convert right now to pay for fees. You can just keep using the same basic Ethereum fees. So that's what we're looking to like using native Ethereum tokens for the gas fees, just to make it like, you know, easy to use and not introduce new tokens. You got a purchase, you got a stake and all this stuff. You know, there's no need for that.
Incentivization Mechanisms
You know, we can use Ethereum tokens and then you know, we charge fees, the obviously transaction fees so that, you know, that allows, you know, basically the team to kind of build up I guess in the treasury or whatever you call it. So for incentivization we're actually looking into a few ways of doing this. So we do want to, we are planning to launch a governance token. And part of the governance token is we want to incentivize developers and also the users. So we're looking into like different ways and there are a few proven ways that are just good. So we're going to like, I don't want to name them directly because like, you know, I don't want to promise right away, but we have some, we're going to like think about like what the best way to use the governance token so that there'll be enough incentivization and participation from the ecosystem then, not just for builders and also the users as well. We want to have incentivization for the users too.
Focus on User Experience
But overall, I think initially the biggest incentivization will be for developers and ecosystem creators and that sort of stuff. And yeah, from users perspective, paying low fees, using a secure chain, those are going to be like the great advantages we're going to look into our governance, how we can use, utilize our governance token to incentivize users as well. Yeah, thanks for your question, Austin. All right, great. Thank you for that question, Austin. Now can you pick the next participants? Yeah, let's do it at random. I mean they don't need to have the blue check. You can scroll down and scroll or just whoever you like. Yeah, let's do this one.
Participant Selection Process
When you're hosting. Let's do toll. I don't really want more. I need so just ask your question. Okay. I actually want to learn about product development strategy of the move network because I see many nice details on the. Website and you know, you also talked. About, but you know, making those, you know, capabilities, let's say into a product line. What is your strategy roadmap on this regard? Thank you. Great question, tolga, I appreciate it. I'm I get excited when people ask me technical questions because I love talking. I'm an engineer for my training, so I can talk about, but I don't want to like, you know, bore people with technical details.
Building the Product
But when the technical question comes, that's not my fault. I can talk technically right now. So the question is, what is the product development? So, like, okay, we say that, okay, we're building an optimism op stack, like, but what are we actually building? How are we building it? Right. What part of op stack are we using? That kind of stuff. So let me just make it very simple. Opstack has four components. If you look in their code base, if they follow their structure, their tutorials and stuff. There are four main components. One is the sequencer. Sequencer basically orders the transactions, sends them not to ethereum, which brings them back. And orchestrator. The second one is the execution layer. So this is the for op stack.
Technical Components Overview
This is the Ethereum execution. So EVM execution, but it could be any execution, but it's mostly EVM execution. The other one is a batcher, which kind of batches the transactions all together and sends them off to Ethereum. So this is more like to write onto Ethereum and then the proposer, that's when the finality happens, when the transactions go through and everything is done. Proposal kind of finalizes everything. So we really, we could change all the part, all the components. We can make all the components, you know, make changes to them, update them, but that will like create a lot of surface area for us to change. And surface area means more auditing, more security issues and problems.
Team's Approach to Minimizing Risk
So what we are, we the team, our team, basically, we talked about this, and then structured in a way to limit our surface space that we touch, that can like minimize our exposure. So what we're doing is, out of the four parts, we are only changing the. Mainly the execution layer. We're using the existing other three components as they are. We're building it in rust. Rust is a very safe, secure language. Obviously, everybody knows. So we're building our move execution. We call it op move, actually opt them as a move, basically, op move. So we're actually building that component.
Innovations within Execution Layer
So we're basically like, you know, everything changes in the ethereum, like the hashing, the state route changes them. The, you know, because of the transactions that the byte codes are different. Everything is like the whole transaction is different, but the transaction signature is not changing, it's still an ethereum transaction. So the signature is ethereum, but inside the signature, the bytecode is going to be a move transaction. So you send it off. Sequencer picks it up. Optimism. Sequencer. It picks it up and it doesn't know what to do with it. It sends it to the execution.
Handling Transactions in the Move Network
But our executor that we write is going to know what to do with it and store the data correctly and update the state route. And that state route will get pushed onto Ethereum with doing the typical op batcher and op proposer. So mainly we're targeting this part. So. But it's not as simple as I explained. You know, it takes. There are smart contracts that need to be updated that are written in solidity. There's a. There's the fraud proof. We're going to write our ZK move.
Understanding the Move Network's Transaction Process
The way it works, the way move network is going to work is the transactions are going to be like really going to Ethereum. When we say like move on Ethereum, we don't mean like Ethereum, like something similar to it. We mean, we really mean Ethereum itself. So the transactions really go to Ethereum directly. And like, you know, some other, you know, other, some other, like, basically I don't want like trash anyone else, but like some of the projects that claim like say, okay, we're on Ethereum, but what it means like something that's similar to Ethereum, not Ethereum itself. So move network, really the transactions gonna are accepted and are sent to the ethereum directly. So which means that the consensus mechanism is basically ethereum itself, which is like proof of stake, basically. So you don't need to like rely on or creating a new type of consensus mechanism on top of that. So which simplifies the project. What makes, you know, this, you know, the cost effective is when there's a quite a bit of users, the cost is shared among all the users.
Cost Management and Transaction Fees
So like move network is going to pay Ethereum fees, but the cost of that is going to be shared among all the transactions. So which lowers the cost of the transactions by, you know, orders of magnitude, basically. So that's the idea. But the consensus mechanism, if we just purely talk about consensus, it's basically the ethereum itself, which is proof of stake. Yeah, thanks for the question. All right, great. Thank you, Odin, for the question. And next we have Umar. Hello, Umar, hi. Thank you for bringing me up. I was going to ask about the transaction fees, but you have touched on that. However, I would like to know how moved network intends to like generate revenue. If you could talk about your business model a little. How do you acquire revenue to keep the move network?
Revenue Model of the Move Network
Yeah, so the revenue model is, at least for now, it's going to be transaction fees. So we're going to be. So even though like we're not introducing a new transaction fee token, we're still using Ethereum tokens. So people will be paying for transactions in Ethereum. So which basically will generate for our foundation, it's going to generate basically revenue. And the more, you know, usage obviously gets, the more will be. So the other thing is like, you know, some projects charge for bridging and all that stuff, we're not doing that, but the transaction fees are going to generate revenue and we'll keep it simple for now. In the future, we're thinking about potentially decentralizing our sequencers. So opstag algorithm, they are very centralized sequences right now. So the sequence is run by their team. But we want to potentially like switch to like decentralized.
Future Plans for Decentralization
If we do that, we will need to introduce a utility token to decentralize the network, which with a proof of stake we will have the participating, you know, people participating in the network be like earning tokens from their staking basically once. If we need to go to decentralization, we haven't really decided yet, but I think there's advantages to become a decentralized, run a decentralized sequencer overall. But we need to be in this to provide some value, meaning it needs to probably, we need to at least like make sure that the trend basically transactions go faster. Or you know, the other thing actually I should probably mention this, is that we plan to have a zero knowledge execution layer. So ZK move. So this needs to like takes competition. We will, it gives an opportunity to decentralize this like execution for ZK computation.
Incorporating Zero Knowledge Execution
That's something like we can probably incorporate and decentralize. That's just the ZK competition part, but keep the rest of the optimistic layer same, but added the ZK component. ZK competition decentralized where people with their staking, they can kind of earn some revenue, not just move network, but also the other people can earn revenue through that too. So that's something we're thinking, but that's kind of the future, but we're thinking about, you know, incorporating these things. All right, great. thank you, Umar, for that question. And now the last participants. Can you pick the last participants? Okay. Okay, that's gonna be random, but let's. See, guys, make sure you wave your emojis. Make sure to send hearts. Yeah, let's get excited.
Community Engagement
Please follow. I see people following, but I think so I think we can like, you know, we can kind of, you can kind of share some of our tweets to like bring in more users and really excited. And in the meantime, I will pick one guy. Found one. But really I share our project with others. We really are starting to grow our ecosystem. You'll be kind of very early and leading our custom growth. So very excited for that. Alex, let's hear your question. Let me find another alternative. If this doesn't go through. Yep. Let's pick someone else. I don't think Alex has a question. Yeah, Alex. Let's see. Okay. Let's see.
Final Participant Selection and Discussion
All right, let's do this one. So he. Jay, you're following us. So that's. Hey. Hello, Jay. Hello, J. You can speak. Do you have a question, Jay? So I would give you 3 seconds, and if you don't have a question, we have to pick someone else. Yes. I mean, our guest will have someone else. So, I think you should just pick someone else. Jay doesn't have a question. Let's see. Bull run. That's a pretty amazing. We need that right now. Yep, definitely. I mean, the entire market has seen a lot, like a whole lot. So we definitely need. Hello, Buron.
Challenges in Development
I hope you can make changes. Yes, you are. Thank you very much for inviting me to ask my question. My question is that I want to know what are the difficulties and challenges that we have faced during the development of this neural network and how do you overcome all those challenges? Thank you very much. Yes, very good question. I'm going to talk, like, general difficulties and things. I think the difficulties were happening in the past, and it's really hard as a CEO. Part of it was that biggest one was actually, for me, was to file nail down what, how we're building it. And, and then it just, when I was, when were, like, thickly into different technologies in different ways, like I said, we changed a lot and there was always something missing.
Overcoming Obstacles in Neural Network Development
You know, there was just, you know, you're building this, I'm not sure if it's going to work. There was always some problem until we kind of finalized to, like, our current infrastructure, like using op stack and everything kind of aligned and it just made sense. But until then, it was quite difficult to find the right architecture because we knew what people wanted, the users, customers and clients and everything. We just didn't know how to, like, deliver that. And when you don't have that and you just have no idea how to get there. So that's, that was quite difficult. And then, you know, just, I think once that happened, difficulty right now for a lot of people and probably going to be for us, too, like, raising and the market is a little volatile.
Team Management and Alignment
It kind of affects everyone's raise, but we keep our team very small and very lean. That really allows us to have a good Runway. That really helps. So I really, you know, focus, don't focus on that too much. But overall, like decision making has been hard. Like telling people that like, you know, there's a huge advantage of just using, just focusing on Ethereum ecosystem. You know, people like ask, you know, hey, you know, why don't you build this and build that? But you have to like think about like what is useful for the customer, what is like better. So having those principles in your early on for me really helped me. So my number one principle is, and it still is to have no isolation for our ecosystem.
Guiding Principles for Ecosystem Development
So we don't want to isolate from existing ecosystems and existing growth areas. And also like we're an ethereum chain. So like emphasizing that has been enough. Hard to tell. But once I have those principles, things become easier because I didn't have to decide by myself. The principles were guiding me basically and that's really helpful actually in real life, having principles will now guide you. It's a lot easier to make decisions. I found if like you're trying to do stuff in your life, it's just easier to have principles instead of just deciding every day a new thing. So yeah, those are, those have been a little hard. And then you know, getting the team together, like convincing every team member to make sure like, you know, we have really strong team members, really strong engineers.
Team Dynamics and Belief in the Project
We just got our like marketing person, he's in this call and like, you know, but the people like feel, people feel the energy, like it's hard to convince, but when you have the, when you really believe in it, people feel it and people feel the energy and that really helps others to like kind of get convinced and joined. So I just want to make sure that they basically, as a CEO, I just want to make sure that the team is aligned, team is working towards the goal and also not distracted, but also the ecosystem is aware of what we're building and kind of expose ourselves but without distracting us too much and then kind of growing and make sure things kind of grow and then make sure the developer, the team is like building and everything is getting set. So having, aligning all of these together is a little, is hard, but because I really believe in this project, people around me kind of help me, which is really great.
Gratitude and Encouragement
So that's been really helpful. I would say things, a lot of things are hard to do, but if you find the right people, they just make it easier for you. And that's about something like I recommend in general. Yeah, yeah. Thanks for the question. Thank you very much. Thanks for the answer. Thank you. Of course. All right, thank you for joining us. And do you have any closing remark before we wrap it up? Yeah, definitely. So like I said, I really believe in this project and we're making sure we don't, like, waste too much, that we actually make sure that we build it and deliver.
Commitment to Building the Future
Because a lot of times people like wait and wait this time pass, we're not going to do that. We're going to launch and show it. But I like the team, I like the ecosystem to be patient with us. We're a very new project. We have huge potential. We're very new. Be patient instead of just like requesting things. I would love you guys to start. I want everyone to like start whatever you're thinking of doing. Just start and grow it for us and it's going to be all going to work out really well. So I really believe in this project and we're not giving up on anything. So ecosystem, we need help, but we need like the, we need people to believe, not just like ask from us.
Building Trust and Participation
You know, we wanted the ecosystem to believe as much as we believe and things are going to work out really well. And so we will build the right product, we will evolve and we will update everything we're going to deliver, I assure you than that. And make sure we deliver. And we just want the ecosystem to like help us, grow us and, you know, help us. Aside from that, obviously follow us to learn more from us on Twitter where all our hashtags are like, all tags are like at Mood network. Also telegram. We just started our discord channel as well, so follow us there too. But overall, just participate and bring in more people so that, you know, this ecosystem kind of grows organically.
Conclusion and Acknowledgments
Thanks for having me, by the way. Really appreciate this space. I really love the excitement from folks, too. Thank you. Thank you. Thank you. Thank you. Thanks to the move network and would like to have you guys here some other time, probably in the future when you guys are like fully set to have another space. So it will definitely be a pleasure having you guys here in the future. And thanks to the entire community. Thanks for being really active. So that will be all for today. Do have a great day wherever you're joining from. And stay tuned because we have many more areas coming. Bye bye, everyone. Bye, everyone. Thanks for joining.
