Scalability in Blockchain Applications - TOKEN2049 Singapore 2022

good to be here um good to be here at token 2049 it's a big big event a lot of people um you know it's hard to communicate with everybody but I just want to say good job to the organizers So today we're going to speak about scalability uh and its use uh in the blockchain world and the applications that are needed to make the world a better place basically so my name is Farhad shagulamov I'm the CEO and founder of Ellis velas is a layer one blockchain we are the world's fastest evm on a second layer note and our ecosystem is growing right now and I'm just want to share some examples with you and what our company is doing and what the teams that we're supporting are doing and how we're looking to increase the scalability and interoperability between all blockchains so in general the blockchain space we know is growing very fast applications are coming in every sector of the industry the blockchain space has been already I think there's a mistake in in the slide that it's already over a trillion dollar market cap and that's only growing and growing why not only because of speculation not only because of how people perceive the market and the hype and different things but a lot of the teams out there are building are working with real companies big corporations different Industries and building true web 3 because web3 is not here yet but it's something that we're trying to build to replace the fragile internet that we have today so blockchain is in every industry already and is growing and its impact is growing but we have a big problem in the whole blockchain Space why we started velas generally is because we've been around this space for a long time we've been in the crypto payments we've seen hundreds and hundreds of projects and we've seen blockchains uh uh not being able to interact with each other so right now what we see in the blockchain world is everything is fragmented into Islands everybody's trying to build um and do a lot of the things and replicate a lot of the things on the same level what vellus is all about is about connecting to other blockchains having interoperability and having true scalability so right now our blockchain is live and we can do just on the ethereum virtual machine on the evm side we do about 50 000 transactions a second we can do a hundred thousand transactions for just under one US dollar and we're working with many many projects and many companies that are working across industry from the Transportation industry to the energy sector from Automotive delivery currency exchange having defined metaverses and a lot of the gaming companies are coming to us because of a high throughput and low cost and interoperability so our team in-house has built a decentralized social media application that we've been working for a long time this is one of the examples uh of a good blockchain application that's built in-house why this was so important for us because we see a lot of gaps and problems in social media in general you have content moderation you have Shadow Banning you have different things that that have been plaguing the industry in a hole and freedom speech is almost no longer there because the big corporations have seized control um they take control of the data they take control of people's minds is how things uh are looked upon if you take an example if you use Google services so Google on average earns about eight dollars per day on every user Facebook earns about four to five dollars Etc et cetera this is enough to end world hunger as we know it right by just using Google revenues so what our team has built here with bidorbit is giving power back to the users is letting the content creators the users monetize their own data and monetize their own content creations and every post can also be an nft you can crowdfund projects you could do a whole lot of interesting tools we just launched better of this application which we've been building for almost two years now and then the version one should be coming out in November so I highly recommend for you guys to have a look I also want to give an example as as a company of us we look strongly at the technology of nfts I know everybody's perception of nfts is a little bit distorted because of all the all the pictures people have been selling right with no utilities so we truly don't believe uh that this is the only way to look at technology so nft for us is really a technology that identifies something being unique and one of a kind it could be used in many different applications like the Chinese government is using to distribute lands and so on so for us we also supported one project called gpn ft so this is an nft Marketplace catered to Motorsports where we sponsor and all own the rights to seven different racing categories from formula one to formula to Le Mans NASCAR indica and MotoGP and from this we made method GP so metagp as a metaverse to Showcase how nfts could be used in uh in a different environment if we could play the video I think that would speak for itself so basically all the nfts that that we build with gpn FTS and velas as a whole for example you have racing cars these racing cars can be imported into your virtual garage as a collection of your nfts but since valis is all about being intraoperable and communicating with several platforms at the same time basically you can take your nfts in form of cars and then you can deploy them in games that are built on Unity on mobile games we just also signed the partnership that you can do cross-platform and also migrate it into a professional Esports Simulator games as well as deployed in different metaverses right so for me an nft asset should be able to be deployed anywhere at all times because it's your ownership but you have to also have utilities so you'll be able to drive it Trade It stake it and have different utilities with it is it possible to play the video on the screen I don't know the so I think the video is coming up now so this is the example of our garage environment this could be totally customizable and we own all the IPS and licenses uh to toll that we see here so then you can have avatars spawn in and the real drivers can talk and engage with the community you can compile different things uh from your helmets to your cars and different features of nfts unlock the features and after these garage doors will open and you'll be able to race so we ourselves have built a mobile game and we're partnering with several other gaming companies to be able to integrate these games in a licensed and proper fashion as well as different metaverse instances that this could be integrated in so this is just to show you our take on on nfts and using a fast blockchain that will allow these assets to be transferred and used in games at a high frequency so yesterday we also announced uh uh that we're getting a big uh a big funding commitment from U.S fund called gems Capital um just to share some news from Bella's side that this money is going to be used to accelerate our growth in the ecosystem we're also launching a 100 million dollar ecosystem fund to help projects that are building on our ecosystem uh we're with Partners also going to be integrated in I think three different launch pads and we have a 100 million dollar grant program so I invite all developers and other people to check out our blockchain because we really are interoperable we have Bridges to all the other biggest blockchains and we are Head and Shoulders faster and cheaper than anybody in the industry right now and that's including ethereum polka dot and all the other evm chains out there and just to tell you a little about about Vella so we are from Switzerland we we've been coming out of crypto Valley um and the projects are 83 years old we're fully live we're listed on on many different platforms we have a lot of new exciting projects that are coming out that have real world use cases real world applications that people can enjoy we have a big education program coming out because just like the previous speaker was saying we do believe that education is the driving force right now we all only have a very small population of the globe that is using blockchain that is using nfts the other people have to be converted they the only way to convert users is by giving them education and incentives unfortunately the biggest part of the planet is not very well off right so we need to give them Learn to Earn models play to earn models and other models that bolster them out of poverty and give them education so they can take the next step and take control of their own lives so I thank you for your attention and if there's any questions please reach out to our team uh we have maybe 23 Global communities running and we're always trying to expand and be more accessible to everybody and thank you for your attention and enjoy that fun weekend