Community Meetup Nov 2020: Decentralized Nodes with DAppNode & Validating on Eth2

I hope it's recording yeah okay um yeah so to start off uh we'll cover some uh announcements so first thing is for those of you who haven't seen on Twitter or on news uh so the ethereum 2 deposit contract is now up finally uh uh the minimum Genesis time will be the 1st of December but keep in mind that's the minimum time not necessarily when it will be launched so if you have 32 ether uh you can start depositing it following the launch pad um please please be very careful if you do want to do that right now uh follow the steps because if you do it wrong you might use all 32 e um and even if you do it right uh that 32 e will be locked away for probably one or two years depending on how optimistic you are and you won't be able to use it um it won't be liquid for you to use outside of ethereum to uh we've actually also been trying to arrange a staking Workshop so there some people who said they're interested to have like a whole Workshop from start to finish of um everything to do with uh setting up a validator uh so there's a community group called e Staker we're looking to see if they can run the workshop not just for us but for a bunch of meetup groups uh worldwide so if there's any um interest please let me know and I'll make sure you're not missed out when that gets um organized and very much related to that is um so e scan which is the sponsor of U ekl uh it's it's a Blog Explorer for those those of you who don't know uh they have Beacon scan which is an Explorer for uh the beacon chain for ethereum 2 and they started this um sort of staking contest to sort of encourage people to try out uh setting up a validator uh so it's been running for a few weeks now uh so it's uh people can set up guilds for other people to join uh We've set up an e Guild uh so for those of you who have set up a validator uh and want to join or who want to figure out how to set validator and join uh let me know and I can let you know uh The Guild uh to join what we'll do is if we get any of the prize money we'll share it with uh everyone who join uh probably enough to have even if you don't win it's probably enough to for us to have like a makan makan dinner uh with everyone uh yeah and hopefully we can put Malaysia on the map instead of just um a lot of other countries uh and then uh so IBG the infinity blockchain group um who also run Asia blockchain review uh they um have part of their group Moon Stak wallet and they've asked me to like uh let everyone in the E Community know that they're doing this uh Lucky Draw uh offering up to $100 in E for 10 lucky people and another 50 lucky people can get $10 worth of ether uh and all you need to do is uh set up uh pass them your email and set up an account on their side uh their wallet also allows you to be able to stake and uh stake ethereum when it will be done and some news um first up is um so there's a bunch of uh stories this month about uh Regulators uh loving ethereum uh so the um cftc the commodity Futures Trading commission uh their chairman um basically had very nice words to say um uh essentially comparing ethereum to bitcoin where if Bitcoin is like the email uh ethereum is like the internet and like an order of magnitude more users uh even the SEC and the OCC which the OC I can't even remember what it stands for something to do with currency uh both of their heads have uh said some very nice words about ethereum and blockchain as well so yeah uh October has been a love in for ethereum from Regulators at least in America uh PayPal uh finally launched a long rumored service where essentially if you are a PayPal user you can buy and sell cryptocurrency uh so that's more than 300 million people worldwide and more than 26 million Merchants hopefully that um helps a lot with adoption it's not necessarily uh the best case yet because you can't exactly withdraw your crypto from your PayPal account to your own wallet but it's still a big step forward and yeah hopefully a lot more people have um and experience using crypto then we can start renw washing them into uh Defi and all this other stuff maybe not third one is uh so this this very nice graph that got uh shared around tter uh to explain the various scalability efforts for ethereum uh there's uh e1x um there's rollups which are sort of Layer Two Chains on top of ethereum and then there's the ethereum 2 which is what has just been the deposit contract has just been launched um we'll see if we can have like a proper session just to go through uh this entire uh diagram uh at some other time I'll share all these uh links for everyone so you can go and read up uh yourselves afterwards so turning to some uh local news uh so our Securities Commission uh has uh invited submissions so anyone who wants to set up an i EO platform initial exchange offering or a custodian uh so digital asset custodian uh feel free to submit before um their deadlines I don't really know who is uh actually interested in doing an IO but if you are uh you can do it and um yeah uh you can set up and it will be fully licensed uh covered by uh this commission uh there's also Al uh um a VC based in Singapore Lun xvc who have partnered with mfap which is uh Malaysia's largest government linked VC uh and they've uh mentioned specifically that they will provide growth funding for blockchain startups in Malaysia so anyone who's looking to start a blockchain startup uh you can reach out to them and we'll see if you can contact them for perhaps uh becoming a guest at ekl in future and explain a bit more about what they do and uh lastly uh so for those of you who are constantly trading on luno uh it just a couple days ago got announced uh luno now supports instant deposits via fpx uh so it's free uh it's instant unfortunately it's only deposits you can't withdraw yet uh but at least you know one way in uh you can help uh it can you can be helped and then going out it's still not uh not the easy around uh so that's some quick news yeah PA says who wants to withdraw Fiat uh that's true uh although I have to say uh just to be fair to everyone uh there has for the last couple months been uh good opportunities to do Arbitrage uh between luno and Global exchanges such as binance um so uh if you'd like to explore that you can um it's been a lot more competitive recently um but you can still make quite good money uh from arbitraging and as far as I understand it's fully um legal and you're not doing uh anything wrong by doing arbitr uh but um you know not Financial advice um who also said that yes so the first placed uh person or Guild uh in the Guild Wars has pledged that uh his winnings will be uh sent to or or donated to that note uh so if you want to donate to that note as well especially after today's talk uh you can do that by joining his Guild and making sure he wins because I think the second place is kind of catching up um I also have seen a dep note Guild uh from the Republic of Micronesia so uh if you want to join that you can uh join that as well uh yeah Eugene says uh who those who are desperate in need of cash yeah for sure you can't really spend crypto inia um so much as yet although I'm sure that was um in uh humor in Good Humor more than uh in seriousness uh yeah so without further Ado I'm GNA invite our friend here Paul because a bunch of us already know him in person uh to talk about uh de node so the the title of the talk is uh own your decentralized life with dep node and setting up a validator simple steps for setting a validator for ethereum to um so let me uh Paul you can share your screen let's see let me know you no okay try not yet not yet oh okay uh try ah well perfect bra browser here we go sure perfect you should be seeing my screen now presentation mode let me know if you can see it yeah okay cool right on so um that would I'm GNA go through three parts uh on on this presentation today first I'm going to explain a little bit um why something like d notic exists um then I'm going to go a little bit in depth into how DB node achieves what it achieves which is basically um to be a completely decentralized platform to deploy any decentralized services that you want uh and finally we're going to end with an example uh on how to install uh and deploy one of these decentralized services in your own dab node and this service in particular will be an E2 validator in case your your your interest on you're interested on doing that on dab note so let's go ahead it first of all I think I want to start with um a little bit of um a little bit of background on how the internet works but from the infrastructure business point of view um because that's that's a little bit the reason why the centralized technologies have a purpose at all so let's let's say that there's an app developer and to offer this application to the user um and then he is faced with uh two options basically to to deploy their own infrastructure to have a server into their own garage um and and let the users connect to the server when they want to connect to the app Etc um but that's not really scalable uh we' we've gone past this and most of the times what you do is you would just hire a server from a cloud provider or even like a server serverless service um to a cloud provider and you pay money for uh for that but most of the apps that we use are actually free so how do the app developers make a business out of it and if they have to even pay the cloud provider plus developers plus whatever they they want or there not a it's not a secret that what they do is they collect the data from the users and they sell that to advertisers data Brokers insurers employers depending on the type of the app the data will be more sensitive or more critical or more interesting economically for um type of um user or a type of data consumer um not only this but also Cloud providers themselves they're in a they're in a very interesting spot um when it comes to um to to data because what they do is they might be selling um space on their servers and they're sort of like black box especially what what you have might be encrypted there might not um but but they do have um a big percentage of the people that are using different Services meaning I I might be using spotify and I might be using Snapchat and I might be does anybody use Snapchat anymore anyway um I might be using um uh you name it any other apps and they're actually all hosted in the same cloud provider which could be let's just say as an example Amazon web service AWS um so they have this sort of like Hawkeye view on what one user want one IP one member of this big vast internet um which Services it's connecting and yeah as I said they might be um the connection might be encrypted so you they might know they might not know which snaps do you look at Snapchat or which songs do you listen to Spotify but they do know they can trace patterns on what you do on these different services not a big deal why is this is this not a big deal everybody uses it it's so comfortable every everything is on the cloud and it's just like it's just so much better to use the cloud than to use anything else than this garage sort of server or to have your own server at home you don't have to store or back up what happens if um somebody spills a glass of water on top of your server um you can rent computing power if you need more it's extremely scalable you can and extremely flexible in terms of um if you want more power if you want less if you want more bandwidth if you want less um from the point of view of the user you can switch between different devices I mean just it is just so convenient it is just so convenient to use the cloud um but yes as I said um it is not only convenient but it is also like an extremely an extremely profitable business um so as I was saying um snap Snapchat pays 600 million a year to Google an AWS lift another 100 million slack 50 million Pinterest 125 million and apple 30 million more Did You Know by the way um uh that uh Apple Cloud or iCloud is actually on AWS there's no such thing as an Apple Cloud it's a basically Amazon web services anyway it's a fun fact so yeah um from five customers and they're not even the biggest you know like those those companies are big but especially Apple but um but not even the biggest consumers of cloud services and you get 1.2 like one and a quarter billion a year from these customers and this was this data is pre um preco now with everybody working from home and and rumping up the internet use that's crazy I'm pretty sure that's a lot higher now anyway so it's a it's a big business right um but not only this it's it's also a big liability um all of this services that you use all of this every time you go into Google and put um and say something um it is it is been proved it has been proved all of this data it is it is available somebody can access it either through hacking and like I don't even I didn't even put here the hacks um here I put the the legitimate employees what they can do with this data not not to speak like of course if a legitimate employee can can do it then any hacker with with um social engineering can also do it right but not only this but there might be um well there have been uh thousands thousands and thousands of credit card numbers stolen from like maybe six months ago from the biggest credit card provider of the United States and Canada there's been like okay all of this data is is basically there for the taking um here I I point out here workers here drug deals medically dosen people having sex says with a blower that's ha that's kind of funny um but that's actually dangerous that's actually imagine you live in a country um where where homosexuality is a crime and I don't know um and uh and you're actually like having an Alexa and some some self-entitled worker um in of of Amazon decides to report you I mean this this can have literal consequences you can have this Stern on you um BEC just because they are not foolproof they're not one of the great things of the blockchain is that like you can't cheat right well here those things are not foolproof at all okay um this data has been used against us I don't know if you followed the Cambridge analytica um like debacle uh but yeah and on the previous elections um so that was like that was five four years ago right so in the previous elections Trump used a company called Cambridge analytica who basically compiles all the data from all of these platforms and makes a profile of which sort of person you are and here note that they're not trying to see whether you vote Republican or they're Vote or you vote uh Democrat what they're trying to see here is which sort of arguments will make you change so even if you're a Democrat which type of person do you are are you somebody that's you know like um uh like um family then like those they will Target you with family um Family Values advertisements for um for the Republican site and they will um Target you with um some sort of content that destroys or that that lets you understand how non Family Values oriented the Democrats are and they will make you switch and some people can be seded with this um that this presentation um of of the ones on the person on the on the right side um makes a presentation about how um there's a lot of science that goes into it how do they get the data and the things that they can that they can know with the data so yeah there's been one one particular person um that has been benefited from that and like there was a big trial Cambridge analytica doesn't exist more um but um after this um Cambridge analytica incident uh more than 200 companies are now um doing something like that um similar similar things so okay so um so we agree that having your D in um in a VPS in the cloud VPS is virtual private server and it's basically a server in the cloud so actually ethereum is mostly on vpss ethereum is in VPS ethereum most of the ethereum more than half of the ethereum nodes are in the cloud so what's what's what's the point and here I'm going to explain what's the point um if you want to make a transaction and you are eras and you want to connect to infura uh and infura receives an order to not so metamask sorry let let me explain a little bit um so metamask which is um web wallet or a browser extension wallet that that most of you will have used if you have used ethereum um uses by default um infura operated notes infura is Big infrastructure provider for the ethereum community um and most people will be able to to connect for free to an ethereum note if they use infura but infura is a us-based company it's owned by consensus and if the government says hey you can't operate with people coming from Iran Iran like if you're Iranian you can't use you get blocked you get censored and now you're thinking Iran I mean I'm not from Iran but hey let's say that I don't know um Trump wins again looks like he's not gonna but like hey let's Trump wins again and it's like who Malaysia Muslim country Muslims but out um out you can't operate with Muslims this won't happen Okay but but you see where the censorship happens here you can start um all of these VPS companies Amazon Google Microsoft only Aly cloud is not uh in um in the United States and it's also arguably um in a sort of like a region where the government is known to meddle a little bit with what the companies can and cannot do in their in their jurisdiction so yeah so here's the thing with the centralized Technologies you own your node when you're when you have your own node for ethereum um you can broadcast transactions directly onto the peer-to-peer Network you don't depend on any company so that's here's where I'm saying on you on all of this defi things like unisoft for example you can't use it if you're from from Cuba Somalia um Iran North Korea you can't use the front end you can use but you can use the smart contracts so if you have your own node you can deploy your own front end and use it but if you want to go to unisoft exchange it won't work they'll block you so that's what we're trying to do you need your own note you need to deploy your own front end in order to be censorship resistant right that's our vision and not only this but you can also create like all sort of decentralized applications that wouldn't need wouldn't even need um to have avps in the first place so let's let's imagine on the first example we had an app developer that was developing an app and was putting the content on um um on a VPS so what's the business model here like this app developer right here on the on the right side um will deploy um the app onto a decentralized network of or will deploy nodes that everybody can deploy in their own machines we deploy nodes and it will make their app um decentralized will turn it into a DB so any user can actually become uh a Hoster and host the infrastructure of this centralized app on their hardware and receive money for it that this the app developer would be paying for it anyway right but instead of paying it into um the into the VPS into Amazon web services he can pay it as micro payments into all the users that are hosting this um then those nodes they will have an API and the app user will just connect directly to this in a decentralized fashion to this network of users anyway that's this is just a little bit of a of a vision of what can happen with the centralized infrastructure as well and how there is a model um that works as well for the centralized infrastructure you we don't need to rely on this Cloud anymore tab note we're doing that we're doing exactly that we're do we're facilitating um the creation of a decentralized hardware infrastructure layer so what is dabde exactly dabde is open source software you can install it you can download it right now if you want and it will transform any hardware into a decentralized server dap and note manager and your gateway basically your gateway to the web three um we'll we'll have a look at at how it looks later I think it's a lot easier to understand if you're actually seeing what it is but basically um it's a software that uh it contains or is completely modular so it can host any dab or node with a dnp a dab node package and anybody can create a dab node package so you just need to use our SDK you have a Dap and uh and and post it on ipfs through our SDK and there we go everybody has access to your dap to be to deploy locally to deploy a node locally um it is easy to deploy and maintain um we have like the goal of DB node was to create something that even my grandma could you could use right so it's basically all um graphic user interface so you can install it with a couple of clicks and it has Auto updat so it's meant to be low maintenance as well once you install a Dap if the DAP developer makes an update um you will you will um you will receive the outdo update as well and this is non-trivial for a completely decentralized system we'll see how we do it later and um most importantly or I think what what people find really interesting is that it's is meant to benefit from the incentive layer that some of this uh projects will are deploying so imagine that the the the Spotify example that I put before where uh by you hosting and serving from your own server um uh into into different people um you get you actually get paid for it well that's that's meant to be um a to do that extreme extremely easily because we don't care so much about one dub node user which we do of course uh but we care a lot about creating a network creating a decentralized network that it's really easy to deploy networks are more more resistant the more distributed and decentralized they are if one node goes down you still have 30 more to connect or 3,000 more to connect or three million more to connect all right so the vision is the centralized Hardware infrastructure layer right um where users can host apps in an un uncensorable private and decentralized way sorry um users provide distributed access to nodes and DBS to people that are not not I mean we understand that not everybody will have their own server so you also share access to these nodes um DS don't have to relay on centralized services and can pass the value to the nodes or the hosters and D nodes are Federated redundant and failure resistance that's the vision now okay let's take a pause here that was all the philosophy part why does lab node exist in order for you to be the owner of your own technology of your own data of your own transactions in order so you never have to connect to a centralizing party that might compromise you censor you sell your data or anything like that okay cool let's dig deep into how do we do that right so let's say that you're trying to browse the a the centralized website like for example the front end of unisoft since we were talking about this before um what you do is you connect to two centralizing points you first need to go to a DNS and you you need to ask this DNS hey where is unisoft exchange because unisoft exchange is not an actual Direction on the internet there's an IP behind it right um so you you go to a DNS and say like Hey where's Unis sub. exchange and it gives you an IP and this IP is potentially as we in the first uh in the first it's very very likely not a personal server hosted in a garage is in in Amazon web services or Google cloud or um IBM Brax space um so it's another centralizing point and then these servers will serve you the HTML of the um of the unisoft frontend right so how do you do this in a decentralized way well luckily we didn't have to build everything but there is a system called ens ethereum name service that uh can give you um a smart contract where um you can put anything behind it so the the it gives you a human readable part of a Smart Control where you can go and say like hey what's behind here so basically you do that and since dab note is hosting your own ethereum note you have an ethereum note in dab note Incorporated it's model you don't have to do anything about it um so uh you go to this smart contracts that where is this smart contract this smart contract is in ethereum where is ethereum well you're hosting your own copy of ethereum in ethereum node so you have it in your own bloody computer so you go into there you go to look into the smart contract and you say like hey where is this website and this website will give you an ipfs hash ipfs is the centralized storage service and it it can host for example a website a front end website so you can render the HTML from your own it PFS node which is also included into that node so we're seeing here how we've seen a website unisoft do exchange and we've managed to uh get a new get this website and we have done it without connecting to any single Central server okay and we do that because when you're connected uh to your DB node server um all youre requests are intercepted by your dab note and they are instead of going to the broad internet to ask for. if uh um uh domain which it doesn't exist um it looks into the smart contract of ens that's where they live okay um so you want to connect with your dab noes but your dab node is also uh in your home it's mostly like um in a uh in a place where you can't move it so much um actually if it hosts any nodes for blockchains you will know that um if you disconnect this it will it will get out of sync so it basically needs to be a plugged all the time um so it you'll need to you cannot carry it with you but what if you're traveling what what if you're in the office why if what if you want to connect from your phone well we've solved that as well you can connect to your own nodes um that's through any um any um device that you want um through our Dynamic D DNS a dynamic the centralized Dynamic DNS sorry the D DNS um you basically o sorry you basically um go and say so your DB node keeps updating this DNS server which is yes a centralizing point we have a grant from consensus to build uh the centralized Dynamic DNS um uh which which we are we are very Advanced on on how to build um but then yes your your IP the IP the dynamic IP of your home connection will be uh available behind this uh this DNS and it will be updated so you can connect to your download from anywhere wear in the world through um a VPN tunnel and uh so so all the connection is secure and you can interact with this note from wherever you are in the world now let's see um so you want to connect to a Unis swap in a completely or any decentralized daa um in a completely decentralized manner so you would go to a e web dap or install a dnp a dnp is a DB note package and it would basically install the front end or or the logic or the custom logic that needs to run um for this DB to work um then you point this dap to your local node that you have on your uh dap noes and any logic that is managed by smart contracts behind this dap like like swapping coins on on Unis swap um will be broadcasted directly from your own notes so you didn't have to connect to a central server to get the front end and the the back end is usually managed by the smart contracts if you need to do some logic if you need to do some computation you basically have to create a DB node package that will run this computation locally and you're good to go then you broadcast the transaction from your own note that you are hosting all right um I think we I'm not going to look at dab node how it looks because I'm going to show it later when I show you how to um how to uh um uh how to how to deploy an an ethereum 2 validator with with DB note or um that's going to be like you can deploy the any dab in the same way so let's do that later um that's for developers how many developers do we have here less than half though less than half well it might be interesting so I'm going to go very quickly over this um so so basically um what one of the big challenges here because I'm talking about decentralization and stuff but like what does this really mean um uh in in Practical terms it means that you need a repository in order to install these dnps these DB node packages on your DB node your DB node needs to know what dab node packages are available right so that's a smart contract um which is uh Aragon package manager um and you basically uh make or up update a uh a new package on the package manager and say hey this is the name of my package um you will get a subdomain on uh on the ens uh on the dab node repository um and you need to include well the actual um package will be just be a Docker image on ipfs um so when the user reads the smart contract was like oh um this guy's dap is available on my DB noes um so I'm going to click on it I'm going to click to install and basically what you're doing is you're telling your that Note to read the smart contract for look for the ipfs hash goes to your ipfs note downloads this hash and this hash happens to contain a Docker image so it installs this Docker image in your dab node and here we go um and now you're you're running this uh this application basically for normal users what they need to understand here is that it works like a an app store you see a list of apps you click you download the app you install the app you're running the app on your on your machine on your phone on your uh on your laptop on whatever it is on in this case on your D note so the user experience is the same but without any centralized repositories and I think that's pretty cool um d as decay uh we can talk about this later during the questions um but yes everything is uh you can do that you can do that right now you can dockerize if you have a Docker image of your dap or or you want to dockerize anything that you want to test on a DB node uh that's all you need to start with the dabde SDK um I'm not going to get on how to deploy your own app but with the SDK you can deploy it on dab noes okay so um we didn't build all of this by ourselves and it's not only me who finds this valuable because I'm a decentralization freak I wanted to show you this um because some people have believed in us enough to give us money to build this ours is a free open-source software project um we do sell Hardware but we don't make too much money out of it not enough to pay salaries um so we have lived out of um grants from all of these groups which I always always want to take time time to thank because those are the ones that are supporting the creation of open- source software that any developer can then leverage on uh and have the centralized infrastructure for their own now let's get to the part that everybody's waiting for ethereum 2.0 well any questions um so far about St noes and how it works I don't know how you want to do it a few questions here but maybe we can do the um the Hands-On round of questions okay cool um so how much time time do I have uh you have 15 minutes yeah okay cool be longer too cool so yeah that's that's I think that's going to be perfect so um before we go into the handson uh let's look a little bit about ethereum 2.

0 um this iskl so I'm guessing all of you are familiar with ethereum um uh but yeah I think ethereum 2.0 is a big change is a big change of Paradigm right now we've got all the blockchains that they are decentralized but there there's this institutions there's the miners which are securing the network and they're doing an excellent job by the way um mostly um and those miners uh basically control what happens with network and they would be able to if they chose to do so um be able to coll to collude and sensor sort of some sort of transactions uh in the network like it has or to even be malicious and mine um frle in transactions like it has happened a couple of times in the uh ethereum classic Network um but yeah so these these have a lot of Power Miners have a lot of power and um what what is interesting about ethereum 2.0 is that anybody without any requirements as as opposite for mining mining needs a big Hardware requirements you need basically very cheap electricity for it to be worth it and you need um a lot of uh computing power but for for validating on a proof of stake Network you don't need much you can you can run a validator on a r B Pi another thing is like whether it's recommended to do it in such flimsy Hardware but but you can um the validation process is not computationally intensive and it it creates this sort of like or allows for a creation of a network where somebody with very very little investment 32 ether which compara comparatively to what you need to start a mining operation it is comparatively very very little even though like it's a significant amount of money um you can actually decentralize um you can decentralize a lot to the network you can decentralize it a lot because anybody in each house could be running a validator then if you need to shut the network down um on a proof of stake you need China or sorry not proof of work you need China to say okay all the we're cracking down on all the mining operations and Bitcoin will be severely compromised um try to do that when ethereum 2.0 and people are running on their own homes through peer-to-peer Network different different know it's a lot more a lot harder to sensor a lot harder to um to to to tackle so big potential for that but they've taken some design measures that I think they're dangerous the fact that this ether gets blocked gets locked that when you put ether there be very careful if you plan to use this deposit contract because you can't recover your ether your ether will be gone for two to three years or one year harth was being very optimistic before um touch W um but yeah um you can't touch it you can't do it it's locked forever and if there's something wrong with the contract or something wrong with your validator and the software breaks down and you start double signing like crazy you will get slashed and you will lose money so it's very very very risky so a lot of people will decide to not risk it and put their ether in an an exchange and and let the exchange validate for them it's a professional operation they'll do it themselves and probably ensure the deposits as well um and actually we've seen some deposits already from exchanges into the deposit contract um this morning and uh yeah so you you will get to a point where a lot of people decide like okay it's a lot less problematic to let a big player do that um and if if it if that's the case um we're we're in big trouble because exchanges are bound are are known entities you can go and talk to the heads of these exchanges and make them do things in you you can make them do things in two particular ways you can do that if you're a government you can force them to regulate or if you have a lot of money like this person right here Justin Justin Sun from um the network Tron you can just pay those exchanges for uh for in order to um start validating in a particular way in a chain and that's exactly what happens to the what happened to the network Steam steam was a blockchain I think actually the uh you guys in inkl that on the only um presential uh uh eth KL Meetup that that I went we actually talked about this um so so Justin Sun actually paid these people binance poex and WBY to vote and to validate in a particular way so they would give him more tokens or I can't remember what it was but Justin basically bought the company Steam and what but but the power the voting power of the tokens was decentralized on um on the the token holder so they he made binance Po and what we vote to um give you more tokens or something like that but anyway that the thing is it doesn't matter what he did what it matters is like he convinced people to vote in a way that benefited him how the centralizes that so that has happened before um and now imagine that it's not a person bribing for people to vote in a particular way imagine that it's a government that says you can't do transactions from these people because they're doing something against my government and I hate them and screw you you can't get paid all right so um this is why it's important to have self- staking to have an option to self- staking but self- staking can be quite threatening because I said you up with the self staking well you lose your money oops so it is a so we need to find ways or figure out ways to do it in a way easier way that will be a lot less scary um I see some some people uh asking on the chat I'm going to read that later um but but I have no problem going back onto the presentation later on um so can you see the dab node uh score right now yes we can okay cool um I didn't know if I was only sharing one one tab or or the whole thing so good um so this is D note voila as I said I think it's important to um to have an alternative um to to make self validation a lot less scary and a lot safer um than than what it might seem at the beginning because if people keep uh putting their money into exchanges for validation yes they will get return but yes they are compromising the Integrity of the whole chain so um so yeah dab node we're trying to do exactly that we're trying to give a really easy way to validate uh for for people and um and the reason why we're doing that is because of all of the first part of the presentation that I've been telling you um we uh we want people to be able to interact with the centralized services without any centralizing parties so um this is this is the DB store this is all all the DB you can do right now and you could install and deploy with a couple of clicks um a Bitcoin note I'm going to do that right now get right now what he's doing is reading the smart contract in the ethereum network and it's taking a while okay good um now it's gotten the ipfs hash and when I click install I'm actually downloading from my own ipfs um from my own ipfs node which is I'm going to show I'm going to show it to you system packages ipfs here we go voila that's the ipfs that's my ipfs node that I'm running locally so it's going here into this ipfs node and downloading the um the the the the the Bitcoin the Bitcoin node software okay so the Bitcoin node software has been downloaded now and should be running no not yet it says installing Bitcoin um so when that is installed I will start running with just a couple of clicks I will be running a um a Bitcoin note I'm going to go ahead with the with the rest of the demonstration takes a while okay install Bitcoin here we go voila Bitcoin it's running right here synchronizing perfect I just needs to sync how easy was that no command line easy peasy good um cool I'm going to remove it because I don't want it to and I just deployed this to show you how to deploy a a Medallia package an an E2 validator so let's go to the meat of the um of the presentation right on so we've seen all the daps um the Bitcoin can be considered a DB etc etc um but the Medallia validator is the one that we're looking at this is just an app um so a Dap so we'll just go to get and since this is a little bit more complex than um than than the Bitcoin node a Bitcoin node doesn't need to do any configuration here it asks me um some something here where you put the alas is where you put what was the the E KL graffiti uh can put guil Wars RZ uh and then is yeah it's actually so no guil Wars instead of s you put a z okay sorry yeah and it's actually not e it's a durian so you know like the fruit du again yeah yeah uh r u n t h r u n t u h yeah um yeah so if you're you you get this okay no my My Level didn't get that that far um cool so okay so I'm accepting so since this is software we're going to be using the prism um validator client um then here we need to read the terms of conditions of their software and we go to install and it's doing exactly the same as it's doing before right it's going to my own node of ipfs um seeing what this content is what's the validator software it's downloading the software um remember we're not going into any centralized um providers here uh we're getting this from peer-to-peer decentralized networks like the ethereum ethereum blockchain and ipfs verifying download and very soon will be able to go in take this opportunity to drink a little bit of water so as you can see here prism we we have two uh software validators um validator software two implementations prism and Lighthouse there's a lot more teams uh working on uh different implementations for the validators there's teu there's Nimbus they're all sort of like targeting uh different um uh different sort of users um and these two are the more um appropriate I would say for um for the normal users that's why we started with this but we plan to also if we can um and it's not too much overhead with Nimbus for example because Nimbus is adapted for low resources machines and that note also can be installed in a Raspberry Pi or any armm architecture Hardware um so you can you can install it in your in your Raspberry Pi if you want um and probably Nimbus is going to be better uh a better choice of validat client for this um so here we go the the validator is running but now we need to go to the dashboard to know what to do with this with this package here uh if you remember I put this password um during the configuration of the um of the package when I was installing it and now I have to select a beacon node provider a beacon node is um the beacon chain is what is sort of like the core chain of ethereum 2.0 um and I have already previously to starting this call um I have already installed the the beacon chain but if I hadn't install it now um it would guide me and with one click I would install the prism Beacon chain as a dependency I've already installed it to save time um select value client I'm going to select prism as well um which is included in the package and now uh I have two options generate validators or import validators um generate validators is uh leads you to the Launchpad um I highly [Music] recomend first in testnet have a look at how it works General your keys um familiarize yourself the tool and then do it um am I breaking up it's telling me that my connection is unstable sorry about this um if you're planning to do that uh I'm not going to go through it right now I did it before the call um and I'm just going to import I'm just going to import the validators from uh that I have on my computer already done but as I said go through the Launchpad process it does require a a little bit of command line but it the instructions are super clear anybody can do it um and they they they've made a really good job the ethereum foundation and other uh and others have done a really good job to to Really guide you through the process and and make you aware of all the risks um so so definitely do that generate your validator keys there um and then when you're ready go to import validators so import validators that's exactly what I'm going to do right now and I just put the key store here that has a password H boom my validating key store so that the validating key store holds the validator keys the signing keys that will sign the attestations um that I will receive on my uh validator okay so hey um the beacon node is not is still sinking that the prism Beacon chain um that actually I I call it the the prison Beacon chain but there's only one Beacon chain there's different client implementations but the content inside a lighthouse Beacon chain and a prison Beacon chain it's exactly the same they're both Beacon chain the same as turbo and gu and um open ethereum are different client implementations of ethereum one but the content inside is the same your transaction is in all of them um the same happens with this there are just different implementations and in different languages uh with different optimizations um so here um the prison beon chain is still sinking but we can see if we click here that our deposit has been done and now it's just being we just need to wait has to be sent to a validat deposit contract okay it will be sent to a validat deposit contract once oops sorry once um ahate okay good um once the um my validator uh software uh can sync with the this is really annoying that the bar the zoom bar keeps appearing here and I can't change tabs oh yeah you can move it around you can drag the green color around the different part of the screen thanks good um okay so so yeah so that's the dashboard um once the beon node is syncing the validator software prism will um will make a a request to put this um this this validator to work and I'm going to start validating in medala um which is the the test net um actually I have to be accepted there's like about two days of delay right now of Q to for your validator to be accepted but um uh in normally if we hadn't had all the finality problems that we had in in a few hours I would be already up and running and validating uh like this so some interesting features of uh of the of DB node is that it allows you to have different implementations already installed and prepared in the same machine so let's say that a a a vulnerability or a bug is discovered in the uh prism client implementation um or in the let's say in the in the beacon chain the beacon chain does not talk well does not talk properly it's not storing something it's it's growing out of control and it's putting your Hardware in in Risk because it's growing too much hey no problem I can change to the beacon chain implementation of Lighthouse I'm not going to do right now do it right now but that's something that you can do and you can do it with a click and boom everything works um same for the validator right now the uh only validator that that is in this package is prism but as I said Lighthouse is under development and Nimbus uh as well so you can you'll be able to switch um clients very easily actually lion is about to kill me right now because we we want to make it slightly harder um to change because this has a double slashing um a double signing uh risk uh so we're trying to make it a little bit more um uh safe U by by using the uh validator protection um that that it uh that it gives you okay so uh now let's say that you have lost your files you want to change these you want to put in a different machine because you need to move places um you you're moving out of your apartment you're going to uh back to your moms cuz Corona um has screwed up with your work and now you can't uh you've lost your job and you have to leave your apartment this is very sad but um your ether is locked so you cannot sell it for a living you need to to keep validating so in this case what you would do you would back up you would export the validators here the key stores and you would put them in another machine um that uh and you would start validating in the other machine um really important thing to to notice here is that um it's a lot riskier to do something that might double sign than to be offline for a few minutes being offline for a few minutes has very very very minimal penalties because one of the design goals of ethereum is to for people to be able to validate in their own homes they don't try to make it complicated and they know that in your own home you can have a um you can be offline for a few minutes when your light when your power goes out when your internet goes down um so the there's not much inactivity leak it's actually not even called a penalty it's called inactivity leak and that's perfectly normal and observed and as long as you're not more than five hours a day offline you will not lose um a lot of money or like you will you'll not be like depends on how much you have you have won but like it it just doesn't you don't lose that much money um but if you double sign and you get slashed you're screwed because when you get slashed you only get slashed once and then you're kicked out of the validator set first of all when you get slashed you get slashed significantly more than by inactivity leak and then you get kicked out of the validator set and here's the thing if you get kicked out of the validator set you can't get your e back they are locked into the deposit contract forever not forever but until phase uh 1.

5 of ethereum too so you don't want that because maybe you have earned money maybe you're you're you're like um the slash won't be so big but you can't you will not be earning return on your investment here you will not be earning return on this ether because it will not be validating you will be kicked out of the validator set okay all right so that's how you install a um a validator an E2 validator on DB notes uh and right now I'm I'm I'm sorry that it's not actually we cannot be so quick as to validate right now um it would be cool to start seeing the attestations here um but which we would see here in Beacon scan um a product of ether scan this uh the sponsor of our beautiful so okay so so yeah so um that's pretty much it what do you need to get a DB note and start validating do you have a machine that that you can use to install D node and have it permanently plugged onto your router um if so install that dabde install your dab node plug with an ethernet cable um this machine to your router and you're good to go you that you're running dab noes you're connected to the internet um you can start validating if you don't have a spare machine and you want a pre-installed machine um uh with dab node pre-installed that you just plug andplay go to shop. node.io and buy a DB node from us as I said we we spend all our efforts here on creating software that is good this Hardware is basically an Intel Nook um that comes with pre-installed with uh with our uh with our um Hardware so I do not have a preference for you going here over here um actually this is just Hardware with the software that you can get here so all right finally um I invite you all to if you want to try to validate uh you will definitely definitely definitely need to go to our Discord we have a very active community of people validating on dnote discord. dnote doio will take you there and I don't know if the red is al already on the DNS so if not um ask me later uh on the telegram chat of the esk and I'll just put the link there um go to our Forum as well to see the discussion and if you want to see our code everything is open source on github.com so thank you very much for your time and for listening to to me all right thanks a lot Paul uh I think there's a bunch of questions on the chat box so we can start that first uh and I do want to leave uh some time for us to discuss uh E2 which well you've mentioned a lot of the pros and cons already anyway um but if anyone has any other thoughts uh we do want to leave a little bit of time to discuss that at least um but yeah I think there's a bunch of questions so um I think we can let you answer those ones first um if you scroll up I think you can see probably yep so um equals not decentralized yes it's a centralized company owned by consensus um cool feel free to ask your questions great is it a one-way contract right yes exactly you if you put money into um the deposit contract of to you cannot get it out until eth one becomes a Shard of eth two which is Phase 1.

5 and this will happen in who the knows when um sorry sorry for my language um I'm a bit I'm a bit informal um so e two staking can validator contracts be canceled any time or be able to exit the deposit any time well yes you can exit the validator set but you cannot recover this if because of what we just said that it's a one-way contract you will have have to wait until um e 2.1 becomes a Shard of the E2 chain and then transactions will be enabled and then you will be able to recover this um this this ether so yes you can exit the validator set but you can't get your ether back how many dab noes can you download in total um how many machines do you have I mean bring it on uh there is a problem though if you so so the cool thing is that you can install many things in the same machine um you just need to like a big hard big Hardware a big disc um you can run a lot of things you don't need different machines but if you have two different DB nodes in the same network they might interfere with each other they're all talking to the um to the UPnP of the router this is networking stuff very complicated don't ask me about it um but uh if you have any networking experience networking experts here uh they'll probably be able to to answer uh to to reply better um so yeah you can install you can install it wherever you want you can put a dab note in your house one in your mother's house one in your grandma's house and whenever you want how have you been keeping up with all the E2 client changes well I mean dab node uh well dab node no dab lion who is here in this call in case you have some technical questions for him um he's been he's been Sleepless many nights man like hell like breaking changes how the do you keep like breaking your own apis all the time like at every single release and you do two releases a week anyway um so yeah been keeping up with it by not sleeping a lot mostly mostly uh d lion but uh but yeah that's part of being um an integrator a software integrator um uh meaning being a little bit Downstream um you you need to be able to do that cool am a hobbi is building and customizing Raspberry Pi server awesome two question is illegal to run a dab node in Malaysia that's a good question I think yes I when I was here I was running a dab node and nobody kicked the door down um any resources for experiment yes so you should definitely go to um dbn node.io and or install. dbn node.io and and read the documentation um The Forum as well you'll you'll find a lot of help at the Forum um lots of questions that people have had so it's.

dap node.io or you can go to our discourse and and start asking questions people are really friendly um I hang out there a lot um and ruen here ruen in here in the group um also will be super happy to reply to any of your questions um legal to run adap node in Malaysia I think so yes there's nothing illegal in adap node um there's you're basically running an ethereum node and as far as I know this is legal um so I I talk a lot about governments and um and censorship in my in in my talk because that's a that's sort of like a sensitive issue um for me because I'm Catalan and uh Catalan Catalan websites or Pro Catalan websites or demonstrations or even voting um has been censored and prohibited by the Spanish government in Catalonia so I'm I'm super aware of the abilities of governments to to sort of censor stuff that's why I every product that I want to build um I want it to be censorship resistant um so I talk a lot about this but it's not that that dbot does anything illegal is that it it is uncensorable um in the sense that you you can't you can't censor anything that's on D node if it's on ethereum um you can you can access it through your DB node I hope that answers your question otherwise I'm happy to to to um to expand personal opinion nothing is legal until they have been yes correct cool um I think something's like uh 56% up time to break even could be um yeah okay that could be I did not know that um that that number so I mean that gives you a lot of leeway to to have your your dab note down in time um that's that's like a little bit more than 12 hours a day you basically just it's yeah I mean you're not going to you're not going to lose money um by by being offline a little bit jurisdiction dab node run on Docker VM so actually um if I understand this this correctly DB note actually includes Docker as part of uh as part of the dependencies dnote is a Docker built machine it's basically series of Docker packages talking to each other um the the core of dap node which is the DAP manager talks to uh a Wi-Fi uh package the VPN package and they all Docker packages and they talk to each other and basically when you download dap it's also a Docker image of um a dockerized application that somebody has done um you run tap note on a virtual machine yes um you you can even run it and I will never never never admit that I've said that out loud oh we're being recording um uh but but you can even install dab node if you want to test it you can install dab node on a VPS as well you can put it on a droplet you can put it on um on AWS you can do that if it runs just needs a a deian based system behind uh so Linux uh and that's it telegram link please okay cool slides yes I will share the slides you won't get slash but you can't withow or use it yep any way to calculate the Returns on the 32 e yes there is a calculator um by code fi code code F code can't let me try to find it Codey if turns calator staking rewards okay I didn't find the one that I wanted but I found another one which I can share here um oh come on Beacon scan sorry I should I should have uh read a little bit dillow sorry sorry Harry that's fine and and that's it we've gotten to the end of the questions that we read on chat so question yeah if anyone has any other questions I'm going to allow people to just unmute themselves uh so yeah feel free to unmute yourselves and ask um otherwise I do have a couple of my own um and uh one was like and feel free to like um have say uh no answers yet but I find very interesting um when it comes to projects like yourselves like uh do you have any plans to like make sure it's sustainable for the long term uh since you know free open source software yes um yes certainly we have plans um we have plans and we so we at some point um we're finding ethereum um that is a lot of overhead for for uh a the centralized um a the centralized project like ours that uh it's its main goal is is to be able to install anything that you want including ethereum um on on a machine that's owned by you um so using coordin like using ethereum as the coordinating um source of Truth for our repository means that in order to access every dap into the DAP store you need to download 400 gigabytes of extra data um so that's that's a lot um so we're looking into ways um to to do that um maybe an optimistic rollup would be something that's cool and maybe a chain our own chain for coordination would be also cool that doesn't mean that that we um that we abandon or ethereum at all actually we're super link to to ethereum and it just means that um you can you can install an ethereum node if you want to and not as a dependency um right now actually you don't even have to install ether you can have a light client and that will uh that will do exactly the same you you actually have the option to choose between a light client a full note or even a remote if you really don't want an ethereum note not even a light client on your machine um because you are a Bitcoin maximalist and you don't want to to have anything to do with with ethereum you can connect to our own node so we're sort of like the infura here um you can connect to our node and and read the repository the smart contract from our own node um when you install a dab node um when you install a dab node you you you you're given a menu to choose which which option you want to you want to do it you're I don't know if you can see but there's a question here how can an ordinary person who doesn't have a crypto wallet tip you any projects to bridge such gaps yeah so um without crypto it gets hard I mean we do have a a legal uh a legal entity in Switzerland and we have a a Swiss bank account but it's probably too much hustle uh for anybody to to really do a a international transfer um that's the beauty of uh of uh um of crypto that you can just send money to whoever you want no matter for borders no matter for commission um so if you have some money um that you would like to tip um and and you you're Adventures I Rec I recommend you to go to luno and put this money into getting your own um your own ether or your own crypto and start experimenting with it and you don't even have to send it to me consider that this is an investment for yourself but thank you so much for the for the thought that's super cool uh yeah actually just a side note uh if people are interested we can even run a workshop on like how to get your own crypto and set out a wallet and we can even use a Deb called gitcoin uh where we can provide um contribute grants to uh using gitcoin to that note and that grant money will be matched by uh other Grant providers yes that's gitcoin is amazing and the git the gitcoin grants program that they have a lot of our funding comes from from uh gitcoin grants um it's Community funded and they have basically is is what leang was saying um but except with the wallet so once you have a crypto wallet you can donate to projects like DB note or or any others um I think KKL also has like a grant right uh no actually no Bitcoin Malaysia sorry Bitcoin Malaysia and uh yes exactly yeah yeah um so so they have a grant as well and you you can donate money there and your the money that you donate will be matched by a big pot um of money that that gitcoin the ethereum foundation consensus and other individuals um Can can contribute to this spot uh yeah there's another question uh possibility of having a less Tech approach to State ether without running a 247 app on my machine yes uh it's what I said you you can probably stick it through an exchange um I do not recommend you that uh you're compromising the security of ethereum but I'm going to put a a big butt here I know of many projects uh trying to solve this problem trying to make completely the centralized um validator pools or um uh or Staker pools um with the centralized validators which is the important part that the validators are decentralized otherwise you can always Trace those validators back and make them do things that you don't that they might not want to um so there are some projects about this that are going to be maybe not available for um the launch in the 1 of December potentially um but very soon they will come so if you can wait um I'm going to be active and I can share this on the on the E KL group okay cool uh and yeah soorry we're already running there's not much time left for the discussion but I I I do have like one last question is um how can the community whether it's ETL or any other community members uh support uh in any way yeah so I think um so good coin grants always help um like this is probably the the biggest source of of love from the community that we get um but of of course obviously like if you want to try the the software DB not installed your machine um install it in a drop light and a VPS uh if if you if you don't want to like invest in like a hardware and stuff now you can install in a raspberry pie so easy like you've got it really easy um but yeah try it test it and go to the Discord community on and the Forum and give us feedback give us give us what you like what do you need we exist because because of making life easier for people that that don't have the time to do all the previous work that we do for you um so the only reason of existing is you using our product so that's probably um the the best way to support give us feedback and and yeah monetarily getco grants but use the pr okay cool uh thanks well thanks a lot for your for your time um thanks thanks you seriously yeah I think we can see the thought was very interesting there was a lot of questions uh which um as we know for the average Malaysian it's not typically the case um might also just be the the people here in our call who very very uh Curious uh we have a little bit of time uh about seven minutes uh I'm happy to extend it a little bit but if people have to leave uh to free to do so just wanted to discuss um some frozen cons of E2 uh so I shared a link in the chat box to uh a Google do so feel free to go there I'm going to Al just share my screen um I quickly wrote down some notes um ahead of time so that I knew we we might not have as much time uh to discuss um just not sure why my chat box isn't open so I can't read uh whatever chat someone's entering uh but yeah so in hopefully six minutes or we might extend a little bit more um everyone feel free uh to share your your opinions I'm going to make sure people un okay so you can um yeah so these are just some uh some basic inro and you have if you have any other thoughts feel free to add those as well um so yeah so PA covered uh a bunch of these points already uh but just to give a sense uh ethereum is moving to proof of stake U from our current proof of work uh there's three or four phases depending on how you want to define a phase uh the first is Phase zero which is about to be launched um um either first of December or slightly afterwards where you can just deposit uh you can't withdraw any amounts out uh and then actually the the graphic here would really help uh so after that is phase one where uh you can uh create shards on top of the beacon chain so imagine Beacon chain is like a like a base layer and you have like a few uh different like houses on top of that um uh but at this point uh sharks can only accept data they can't execute any transactions um and then phase 1.5 as Paul mentioned earlier uh is when we will basically put the current uh E1 into a Shard one of those shards on top of the beacon chain and phase two is when we finally get all sharts to be able to execute transactions um by themselves and between each other uh yeah and some reasons for doing this is uh it for a lot more scalability than we currently have so if you guys have played with defi in recent months we've had uh times where literally you can't do anything without paying um an expensive amount and it's also more environmentally friendly because you're not um using up as much electricity uh and I guess I should also say uh it's more decentralized uh you might argue yes or no uh because you're not in the hands of um three or four miners that that could control all the hash power uh again if you have anyone has any points you want to add or you want to um addit any of these points or disagree feel free to uh to unmute yourself uh but yeah some throws are that obviously you get some yield um it's not as crazy as the def yield that we've seen recently uh but it's also probably more sustainable uh it's not something that will be a th% but then gets r pulled and then become zero uh after one day um and then um you can also do it out of uh altruism uh in the sense of wanting to support the ethereum network uh because it's such a cool thing uh that we all know and love uh you can also get some uh reputation or bragging rights uh there was actually yesterday uh before the deposit contract got announced publicly there was already one person entity who uh deposited 32 e basically because they wanted to get the um validat index number zero uh just to essentially be able to then show off uh maybe to others or maybe just to themselves uh that they the first ever uh so I think right now we're probably still in the if not double digit uh definitely in the triple digits so if you want to show that you know to the entire world 10 years later that you one of the first uh you can do that um yeah and probably you will get some proof of attendance protocol nft badges as well for people who uh who deposited before the launch um yeah so I think these are the pros I can think of uh there might be others if anybody have any um so some cons as um PA mentioned a few of them earlier first of all is obviously the large Capital uh so you have to put 32 ether uh unless you want to trust someone either your friend or exchange or some entity and that's roughly about 50,000 ring um so yeah not cheap um uh so as Paul mentioned earlier as well especially right now uh in the test net some of the clients uh every now and then uh you can't sync um so it's not stable and it can get hard to debug especially if you're not a technical person uh so if you can't man are not manage can not managed to debug then you will get some inactivity leak which means um as PA mentioned your amounts get reduced slowly uh and there is an element of all proof of State uh protocols and I'm really looking for someone to give any point to disagree here where um if a proof of State protocol uh if someone who's already rich and stake uh they essentially get richer and that's an argument against it being more decentralized in the sense that someone with a lot of ether now can keep on staking and 10 years later they'll have um more of the um Network essentially if other people drop out at some points um so some other ways around uh how you can't uh if you don't have enough Capital uh you could use a staking pool so um there's uh po was mentioning some I I don't know those projects yet but the ones that are live are for example rocket pool where um as I understand it I'm not entirely sure um there is no centralized entity that you have to trust it's a if decentralize it across at least some uh different entities and they've also created a rocket an R token uh where that token you can uh use outside of the Von chain um yeah you can essentially withdraw it and use it in the current ethereum uh for so just just a quick note uh they're actually the second uh group behind the uh the conu which is looking to uh to donate to that node uh so let see yeah so they're 1561 so they're catching up uh I think conu was ahead by a larger margin before uh so if you do want to support that node uh then you can uh um add uh this graphity to your validator otherwise what I understand is rocket Ru said they would divide it to all their members uh so if you trust them um to distribute their reward and you want to have a little bit of it uh you can uh use this as well otherwise there's always the ETL one durian Ruto for you to to use and uh lastly is um exchange taking uh so Paul mentioned it as well earlier uh there's the whole centralization risk but from a ease um point of view it's a lot easier um you don't have to figure out anything The Exchange does it for you and you can probably withdraw it um very easily as well uh yeah so I didn't mean to just to to go over all those points if anyone has any other points uh feel free to add but I just uh wanted to make sure we uh don't run overtime by too much we're already slightly uh two minutes um past um oh okay so we have some questions in the chat box um uh Eugene says valid this need to be paid yep that is uh perfectly uh true uh the whole sort of game theory behind it is to give incentives uh Nicholas ask has anyone tried rocket pool uh if anyone has tried feel free to share I haven't actually tried a rocket pool validator myself um but I have talked to some of their people um yeah so if anyone has tried or will be trying uh later feel free to share uh let's say in the telegram group love to find out more uh Liang asks if there is a thre Monon projection of how fast e two will grow in 2021 uh I don't know Paul do you have have you heard of any projections for E2 um okay so Paul saying rocket pool is a custodial solution um they'll give the money after uh 1.5 uh yeah keep that in mind um but you can use the r e whether or not the r E's value will be the same as ether it's a different story um yeah so on the projection side uh I think the closest thing we can have a projection is um just to even look at the uh deposit um call this the minimum deposit needed on the Launchpad so if if you go to launch pad. ethereum.

org uh this will show the minimum uh amount that is needed to be deposited before each two can even launch in the first place um so yeah we're I think probably something like 5% uh there uh after one day uh so this might give you a sense of like after how many days how much has been deposited we'll give you at least a projection of um when the E2 can launch um and then after that um yeah I I don't know of any projections as yet if I find any I I'll probably just share it um in the in the telegram uh yeah so [Music] ah yes so what happens if you don't meet the target we won't start until um we do um yes it'll be very interesting to see uh I'm sure there are a lot of whales uh that have ether since um the beginning and if they wanted to I think they could uh even let's say someone like consensus whether we like it or not probably have a lot of ether and they can use that to validate um yeah but we'll see we'll see how it goes I think uh it'll be interesting to see the the rate of um depositing um it might just happen that um in one day later like half of the um notes get set up which be very interesting to discuss uh for everyone yeah so uh p uh P correct so it also has to be after the minimum uh Genesis time which is the December 1st I don't think we will uh get there before December 1st uh and personally speaking I know it's recorded and this is just my personal opinion I don't think um the clients are all fully ready uh to run without stability issues uh I can see Paul shaking his head as well uh so yeah that's someone who's actively uh involved so um I don't think anyone can stop it uh if if it uh deposit deposit amounts are are fulfilled but yeah I think a lot of people are a bit hesitant um I mean it can run and people might lose money uh and ethereum will still be there there might be a slight drop in ethereum price if that happens um but I think regardless it will still it will still run even if there's stability issues uh so yeah so we're already six minutes passed um so thanks everyone for joining um thank you again Paul and the other uh dep note members for joining us um love to have you uh again next time I'm sure there's a lot of other topics you guys can share as well um so yeah welcome po uh so as I mentioned at the start of the meet up uh we are looking to see if there's a workshop for E2 that we can arrange with the E taker uh group uh so if you guys are interested please let me know either here or in telegram uh so I can have a gauge of how many people show up I also want to be fair to them that you know we don't want to get them to organize and then like only two people show up so if I can get a sort of gauge from uh the k Community can contribute that and then the other people the other Meetup organizers from um from Bangkok from um from Colombia from a bunch of other countries are looking to invite their Community as well uh so we can all like uh meet each other on a workshop so yeah uh let me know if you're interested and if you have any topics you like us to cover uh for next month or or some other months let me know as well and I can try and find suitable guests otherwise yeah uh thanks all uh if anyone wants to stick around and ask any kind of like questions or just like to chat um I'm just going to leave uh this zoom up for a while but if anybody wants to leave um feel free to do as well yeah thanks guys bye thanks for joining us nichas uh uh leang I don't think other people are sharing your video so you might not be able to see anyway thanks for joining us thisis uh hope you you can join us again next time uh yeah yeah so if you want to like share your video you can do that as well uh happy to to uh see each other's faces and yeah uh if anybody um has any links that you want me to share here um before I forget let me know Che Stephen thanks for joining us again uh hope to see in person oh not uh I have allowed participants to unmute according to the admin um I can unmute you right now see oh it's interesting okay so Le you unmuted right now yeah yeah sorry I I didn't mean to say I want to share video I just said that because your what do you call it your your your screen was blocking the the the yes that's what I in sorry yeah no worries that's fine yep that's fine if you have any questions feel free to ask I'm just going to leave this open for people to like um just chat uh or what for the next say five minutes or so uh thanks B thanks for [Music] joining always a pleasure thanks for joining us well yeah please come again next time Harris Can can I ask are you actually running training for this uh etherum um so I what we've done with ecl is we've done blockchain 101 talks uh and recently I've worked with uh one or two universities to do both 101 talks and uh handson setting up a wallet shop um so yeah um I don't mind doing it uh or like even ESL uh sort of mods don't mind doing it um maybe if you can get like say 10 or 15 people uh we can do that so it's not so it's a good use of time what are the most challenging obstacle is it a programming language or what what is it you know for people to get yeah uh so okay uh I have to preas this by saying I'm not a developer uh but there are a bunch of developers uh inkl uh and my understanding is that the the technical stuff the programming site isn't the difficult part uh the difficult part is understanding some basic concepts of uh the blockchain and how it's different compared to your web to uh like your normal internet uh kind of programming uh so for one thing when you do smart contracts uh it's largely speaking uh in place so you can't really um like move fast and break things uh and there's money involved so you know if you screw up then people's amounts can get lost so there some of these kind of like Concepts uh Frameworks uh for people to keep in mind um but the programming itself yeah if you use solidity it's very similar to JavaScript so um yeah it's not it's not the hardest part on the technical side um sorry I'm just going to U Point quick uh um Shenyang said that okay I think Shenyang left already but he can share on setting up a lighthouse Beacon note and validator so if anyone's interested um can uh can I can organize that with Shenyang I I believe he lives he stays in P9 and double check with him uh Nicholas asked which university so I've done with uh incf it's like a master's program for Islamic Finance um let me see I did it with as well can't think of the top of my head right now I have talked to some Mones alumni and students so they've joined um like by an informal talk um yeah so actually if um if you can connect us with uh your uh faculty in your University I'm more than happy to uh to talk to the faculty and and arrange um both the one1 talk and the hands- on site and even a technical Workshop if if there's a interest um and sorry uh not to um go on and on but uh we also unofficially uh in talks with the ethereum foundation uh to see how they can support uh local communities like ours uh so some ideas include even providing a grant uh for like students uh for people who want to create like open source uh Community projects such as that note and um from there like even if students are building on it uh the older members can provide some guidance some networking and uh you can then use that experience to either like like pivot it into a company or or put it into your resume or GitHub so you can like get a lot of exposure in the whole essentially Global blockchain space uh haris hello yeah I'm I'm actually looking for developer to test the the protocol I'm designing because just now I asked the question of if somebody don't have this uh what do you call it uh crypto wallet how to send money right uhhuh so basically I I give you the link just now did you did you actually uh keep keep it or should I put it send to you again yeah could you send it again I think it might be lost already the wait oh is it this one the pit. doo uh yeah the bit door Force Dua okay yeah so you see the idea is actually very simple you see this uh public key right public herey has been used as a fundamental ID in uh all this blockchain technology but they don't they are not actually used uh explicitly for user authentication right you get I mean like for example when you try to log into a website you are still required to uh you know register your own username yeah and after that you have a centralized uh system to authenticate you with your password right that however if you actually use a public key then we can get rid of the centralized user authentication all together right in theory yeah so if we do that right then you know in fact we can set up a system something like uh you know to connect the National Banks like a router okay through a network of uh central banks and then uh together with the crypto cryptocurrency exchange or in fact each individual person can act as a router you know that that that that is SCP sure makes sense or not okay um I just put a link inside the chat box is it similar to this magic. link in the sense of you can uh sign up uh or or log into to different uh software or different applications uh using um just your your your wallet instead of um email or password magic. link which one uh I I just post it in the chat box so you can take that I don't know if that's exactly the same is um what you described um oh I noticed Shenyang you uh you shared your uh screen so I guess this is a lighthouse validator I'm not sure if you meant to share your screen just so you know so somebody sharing the screen uh I believe Shenyang is sharing his screen so that's uh it's showing a lighthouse validator okay cool yeah as long as you're aware you're not sharing any private stuff um sorry uh so actually sh if you're interested we can uh arrange like a like a local Workshop as well um let's say if the E Staker one doesn't doesn't go through or or if you just want to do it another time and maybe just like more local uh if you're if you interested we can arrange one uh where you present and I can gather um any Malaysians who interested to join uh haris yes sir yeah okay I send you a link this one is a JS and cryp demo okay it actually pretty much is like like very simple uh you know demo to explain the concept that I explained to you just now you know using public key to authenticate uh [Music] user you see the the link that you sent me right you see it says that you need you still need to register now if you still need to register that means that they they have not they have not get the concept of public key authentication at all you see basically if you use public key authentication right you there's no need for sign up at all no need no need to sign up okay yeah so you see for example right if if if we can uh do this okay let's say for example you if we want to send money to to Vietnam okay all we need is that uh we need an agent in in km and we need another agent in Vietnam now between the agent in KL and Vietnam they will use a Bitcoin or any cryptocurrency okay so there will be four party involved right so the sender and the recipient plus the two agent now still the protocol uh in between all the agents right will be will be uh encrypted using public key so there is no centralized user authentication at all all right so meaning that the sender and the recipient they don't need uh to have a crypto wallet because the the agent will have the crypto wallet and then at the end the the agent will pay the recipient through the ordinary uh National Bank system but the the secret here is that the authentication is done okay just like Network you see network you have router right so in this case you have uh three parts a b c d right so A to B B to C Tod now each of these are all encrypted using public key now there's no no no no centralized server at all see it's a very simple concept but the problem is I need I need people to to validate that so meaning that I need developer to actually understand this uh this idea and uh basically I the the jiub jeub site I show you is actually my I have some demo C there but of course uh it's a protocol right meaning that is open meaning that we can anyone in fact anyone can reimplement this thing based on the same idea right yeah so that is what I'm I'm looking for okay I'm I'm trying to see how we can uh help you here maybe we can do like a quick demo uh let's say at next month's meet up and then uh if any of the uh audience are interested to test or or give feedback or use it then they can connect with you afterwards um and I can also link you with a couple other um communities as well like Bitcoin Malaysia for example if you haven't already linked up with them and then um either we can do it jointly with them a demo or they can have a demo at like yeah another meet up it' be great if I can have one or two uh developer to to do the test with me before I actually do the presentation because that will make sense right because I I I deciding this thing myself right so a lot of it is like from my point point of view you know so if I have feedback from other people then it would be much easier uh yeah um yeah the thing is I just um not sure how to say this but like a lot of the as with many things like the a lot of the very good people are also the ones who are the busiest um and like even if I was to just like ask hey can you help like the won't necessarily uh are available to help so I'm trying to see how we can like if if we've shown the demo or represent it a little bit then they understand it a little bit more me it be um like more there's more of an incentive for them to to help okay I I tell you what I can do all right the the link I give you right are basically whatever uh I have written on J those are I mean if somebody is interested and if they are technically um they are technical people they can understand but besides that I I'll try to write a you know a more user friendly PDF and also I'll try to make a short video presentation meaning that instead of me explaining you know this thing in text right I I'll make a short video to to to um for my idea now if um if you think my short video is good enough for the next my presentation of course I mean I don't mind you know uh using that for the next uh you know when you think is uh is uh suitable but uh that that that video is also for the purpose of uh showing demonstrating my ID to whoever uh developer that you you think is uh maybe interested yeah so yeah for sure uh so I would suggest even you write not a PDF like you write like a medium post or any kind of blog um website um right right a blog post we can help uh distribute it uh via you know Twitter Facebook telegram stuff like that uh so there's at least some pre interest and we can tell them hey if they want to learn more or or no more you can join our next meet up and I can give you maybe uh say 10 minutes um to do like a short uh video or or short demo uh so that after that if anyone's interested I can link them out with you does that work yeah definitely I I'll do that I'll do that sure that's that's a good suggestion thank you yeah so yeah yeah so do the block post post and the video the blog post we can share already and if you post it in in the telegram group I'm not sure if you're inside already uh but if you post in there then if anyone got any questions they can also just ask uh inside that group um okay so so you're on in the telegram also right yes yes yes pretty much a bunch of us is in this call uh in that telegram group it's not the most active group because we're not talking about prices and stuff like that but um yeah I think if you can explain your idea clearly and simply enough I think um people will be happy to to share their their feedback okay okay so anyway in case I have problem joining the telegram you you are compactable on uh meet up is it or is there any other me to uh yeah on me up I shared a telegram link earlier I can share it again yeah I know I know I have it I have it I'm just wondering just in case I I couldn't get you know for some other reason uh yes uh actually what I'll do is is uh not to self-promote myself but uh I also have Twitter uh so you can uh DM me or just um um yeah uh so Twitter telegram meet up I think out of those three yeah you can try all three L uh we should be able to to respond um yeah all right thanks a lot thanks a lot thank you very much yeah no worries I'm also going to post ankl Twitter which is a I guess not very active also but yeah if you ping hkl Twitter for sure one of us will will see it okay okay good all right um so uh Rafi is asking fundamental question why do people State their e in East 2.0 um actually let me share back the the Google do just now uh maybe we went through very quickly uh but some some things are you get yield so that's um the rate changes depending on how many valid validators there are um but it's not your crazy hundreds of percents of apy like5 St but it's uh if I remember right it's like like um below 20% um like 15 18ish if there are not that many valids especially at the start and then as more and more vors uh join uh the the return gets lower per um validator so maybe you get I don't know 4% or something like that so that's one element and then um like I mentioned like uh if you want to as part of the altruism of of supporting this beautiful technology that is ethereum that isn't owned by anyone um that's one reason as well and uh the reputation so um like if people ask oh are you an ethereum person uh and someone says like you know they don't have even any ether then that's kind of someone might might react to it and go like yeah you don't really have any of your own wealth inside ethereum so maybe you're not as much of an ether person maybe uh and if you go one level ahead uh you can if you can say that if you can show that hey I'm a validator for um for ethereum I'm helping to secure the network um there is a certain reputation that you can use that especially if you have like a good validator index number um or you have the proof of attendance uh protocol badge um then it's a sort of a form of reputation uh so let's say you go to Devon or you go to any other event or or you just meet people and doing some sort of business deal um it's it's a it's a way for people to like somehow like trust you better because they know you're um like committed and you're like securing the the Network those are some of my thoughts um sh um other people might have other points as well no worries um yeah so uh it's already almost 10 so I didn't think we stay on for uh this much longer um so yeah if anyone has any final questions um or any final thoughts to share with other people here um feel free uh otherwise I'm going to shut it down um the the zoom call and I'll do a bit of editing and and and post the recording um on YouTube afterwards yeah thanks guys for joining um yeah thanks a lot for joining uh please make sure uh join us again when you can um next month and and other months um yeah thanks ra uh yeah so see you guys see you guys next month