The Interoperable Multi-Chain Future of Web3 - TOKEN2049 Singapore 2022

I hope you have a great day here at talking 2049 thanks for attending my presentation today first of all congratulations to the event organizers I think they did a tremendous job like always so I'm actually very happy that Sota was talking before because he was talking about one side of the story and today here I can tell you the other side which is more on the lower level of the infrastructure itself and not how he talked about the application interoperability aspect the title is the interoperable multi-chained future of web3 and it's a more like introductional like presentation with 15 minutes I don't have too much time so I will uh yeah focus on the basics and give you more than enough materials I think to conduct research afterwards my name is Max Kodak I'm CEO of co-founder of Lisk um and I'm in space for quite a while quite an OG since end of 2012 so I've seen the ups and downs and it's just for me amazing to see where the industry is at today so the goal of this presentation really is for you to understand the concept of interoperable web 3 applications and why do I want that you understand that so to understand where I'm coming from you have to know that there are two paradigms how you can build web free applications one is we are a smart contract layer one like on ethereum on buying a smart chain on Solana where you're building your smart contract which is very similar to a script we upload it to the public blockchain and everyone can execute it with a transaction and here interoperability if we are just looking at ethereum it's not so important because it's all on one blockchain it's all accessible all the data all the smart contracts are in interconnected already so it's not so important um to talk about the more like infrastructure interoperability here but Sota already pointed out on a more application Level that's still important but what I would like to talk about are app specific layer ones so polka dot Cosmos lists are probably the major projects working on that and here what is actually happening is that you are developing your own blockchain with an SDK these projects provide you with and on that like independent blockchain you can either well develop a smart contract again or you can Implement your logic natively into the protocol of your own blockchain and um well for Lisk back in the day it took like two three years to build a blockchain from scratch and with these sdks these three projects for example are providing you with you can do it in a few hours so that's already a huge shift in developer experience but well even though I think like web3 applications developed with this app-specific approach are far superior they have this problem that they're all based on their own blockchain but just a few words why I think they are superior so first of all I think they are more secure because how Sota mentioned before like it's on the protocol your logic is on the protocol it's not on a smart contract which is much more vulnerable for hex and attacks also the governance aspect of your blockchain is very tightly bound to your own governance token so that if you experience a major hack your users collectively can still vote on the governance of your blockchain and can say okay no we basically revert that hack this is not possible on ethereum for example it's more scalable because on your own on your one blockchain there's one app so your users don't have to compete with other like users of other blockchain applications for Block space so it's much more scalable from day one essentially and it's more accessible because you're not building an app into an existing ecosystem you're actually creating everything yourself it means it's more work but you can cast customize your blockchain your user interfaces and so on and so forth exactly to your use case and these three let's call it attributes for me are one of the most important things to worry about if we are talking about the user because at the end of the day well it's the user's most important uh well let's say the user is the most important in your product and it's very interesting to see that more and more smart contracts are actually moving to this app-specific approach the most famous example right now is dydx they are one of the biggest ethereum apps and they are moving to their own app specific blockchain built with a cosmos SDK so we see a trend and see that people need more than just regular smart contract platforms however like I said it's a bit problematic because well we already see that we are living in this multi-chain world because there are hundreds of web 3 applications built with polka dot with Cosmos with Lisk but well they're all on their own blockchain they're all isolated they're like Islands they can't communicate with each others unless there's something what we call interoperability and that's what I'm here to talk about today about interoperable web 3 applications because I think that's like a key piece of well networks to be connected with each others let's say you have one blockchain where you have a DEX to trade tokens and another blockchain where let's say an nft Marketplace incentivizes you with their own token to trade on their marketplace now you got this token from this nft Marketplace maybe you want to trade it but for that you would have to transfer it into another blockchain into the blockchain of the decks in order to do that because remember with this app-specific approach each app is built on their own blockchain and in order to transfer it well that's where interoperability is necessary and maybe to just point out a real transfer is not really happening it's more like a lock on the one chain and an unlock on the other because it's two different systems you really can't transfer or teleport something but there are very sophisticated methods behind that and like previously pointed out there on the protocol level so it's not like a smart contract doing that it's not vulnerable to hacks and attacks it's very safe and um well with that I think you have a very good overview what interoperable and multi-chain means um that's essentially the whole Magic with which you can build more secure more scalable and more accessible web3 applications I think that's the future of web3 I think we will see more and more web reapplications moving to that Paradigm um and well they will have to be interoperable to just stand a chance on the market and I'm very curious to see how polka dot customers and my own product list is doing here in the next few years because I think the next few years will be key let me talk a few minutes about my own product list so let's cross establish in 2016 at seven years old we're a Swiss Foundation non-profit currently have after seven years of operations still 60 million US dollar left in capital with the bad Market we are in right now we're 70 people spread between Switzerland and Germany and we're essentially working on two products the Lisk SDK which I mentioned before which is forever free forever open source a JavaScript software development kit you can use to build your own blockchain like I said it takes you a few hours it took us years to build that and there were over 60 research papers going into that which were researched over the last five years so that I think is a very big step in developer experience improvements to build your own blockchain but we wanted to go a step further and also provide a platform where users can access these web3 applications being built and right now the Lisk Foundation is supporting through its own grant program around 20 web 3 applications and the platform launch is assumed to be in 2023 so next year and here's an image already of a sneak peek it's going to be really really cool and while this has it in its mind accessibility so we design it always a little bit different than our competitors with the users in mind to make it a simple and approachable as possible that's I think the future of web3 and that's um where I think the space is heading towards independent blockchains built with their own unique use case on top which are all interoperable with each others there are many more Concepts but I think this one is one of the most promising ones there are more than enough tool sets available in the industry my suggestion to you is if you're a rust developer check out substrate from polka dot if you're a go developer check out Cosmos SDK from Cosmos and if you're a JavaScript developer go to Lisk we did like the whole JavaScript approach because we thought existing companies might already have JavaScript developers which we can tap into so that your businesses don't have to rehire talents if we're looking to the smart contract Paradigm well good luck finding a solidity developer right now this is Lisk and let's put the users at the Forefront our goal is to onboard 100 million people to web 3 and crypto in the coming years and to become sustainable until 2025 because we don't want to just use our Ico money and raise more funds forever we want to build a sustainable business and for that we are taking a slightly different approach where we are also trying to earn money in the coming years so there's much more to come even though we are already old and maybe not that hyped as other projects but I think we're very we're entering a very interesting year in 2023 with the upcoming platform launch that's already it if you want to learn more just head to our website list.com there you can hear and read everything about our project for developers and for users thank you have a good day bye [Applause]