Ecosystem & Interoperability - TOKEN2049 Singapore 2022

my name is Magnus Chung I'm the ciso or the CSO of wire Network pleasure to meet all of you so you know oh this is not my presentation I was looking at that I said it'd be really bad if I didn't know the thing I was presenting on but uh uh now we're getting there slowly oh wow they figure that out one of the hardest parts of my job is actually trying to tell people what we do they always say oh Magnus nice to meet you what do you actually do what do you work on so today I made a very simple super super simple I've seen a lot of these diagrams it's actually pretty complicated mine is very simple and it's a little diagram saying hey this is oh here we go there we go there's a little diagram showing um see if this works bam this is the internet on the right side here and what I'm going to be doing some parallels to is blockchain and how we are approaching the problems on the left side so it's very very easy so because we do things from a hardware perspective we do protocols we build applications from a lot of people it's a lot of different things that we work on so this is a very easy comp usually when people think about the internet they think about this one thing but there's incredible amount of dependencies that are there so I know my talk says ecosystems and interoperability but I'm just going to go through here real quick so we have our version of applications that we've been building really amazing Partners like Medicaid for example daps we have our own protocols that we are building one of the most notable is you Pap I'm going to talk about that in a second Universal polymorphic address protocol and the last thing is the nodes that we run everything on so I actually like to do this presentation a little bit backwards so I'm going to talk about the nodes so everything sits on top of the nodes in any kind of system whether you have Twisted cables ethernet and then you have PPP that sits on top of that that's over on this right side over here and on top of that you have like protocols like RTP you have HTTP everyone knows that one and then you have the applications that set on top of that like your Chrome application for example so same thing for web3 we have these nodes and it's really important to us because we work we believe in open source we believe in trustless so the devices themselves should be trustless a lot of these um a lot of the responsibility of the hardware has been pushed onto the miners uh and we don't really we don't really particularly believe in that for ourselves so oh by the way there's a QR code here and at any point in time if you want more information more detail than what I'm showing up here and please feel free to dig around and do so but essentially the nodes themselves are trustless which means that you can verify everything about it we don't use any proprietary software and everything in the hardware is verifiable so that's very very important so we start with a very clean and open source Foundation then we have been building protocols such as u-pap which is again stands for Universal polymorphic address protocol essentially and the dot IO is you can go look it up on that site but essentially what that means is universal addressing so instead of having six Chrome extension wallets you can have one from extension wallet and that wallet can access all blockchains and it's not like an evm it can access evm compatible chains you can access EOS compatible chains it can access whatever you want substrate chains para chains whatever you like as long as they are open source as well so I could talk a little bit more about that but those are part of the protocols we are developing and of course we're developing these dabs that sit and utilize these protocols and then are operated by these nodes so some of the Partnerships that we have formed with with Medicaid Medicaid actually our Partnerships is better most talked about with uh Ken our CEO he's going to be coming up here in a second a Medicaid r43 is a wonderful Marketplace that we have perk is a human capital protocol we have IP famba they are a IP score protocol man docs protocol for artists so we have worked and selected Partners in our ecosystem that are great and phenomenal leaders in their kind of web 2 industry and we help them transition to the web three so actually I do a lot of that I help them out with that a lot so essentially what I say is this is what your network or your app will look like on this network this network this network and we show and talk about u-pap Universal addressing we talk about our notes how the trust lists and generally they come to the consensus that we would love to be built on your network which is is really heartwarming for us as we are a team of Engineers down in Florida so again talking about Universal polymorphic address protocol that's a very interesting protocol that we've been working on and essentially we abstract ownership and utilize a name service contract so we have bridgeless interoperability that is really really cool Bridges tend to be a little bit centralized and can become an attack Vector so by utilizing bridgeless interoperability we've been able to avoid such pains so that's a really big Flagship product we have developed a lot of other protocols but as far as the main one that we've been promoting this is the one that we would like everybody to adopt and just so everybody knows Protocols are to be used by everyone that's the point of the protocol if you don't know and a lot of you here are developing your own amazing protocols and I wish for your protocols to be adopted and if you provide a solution then we would love to integrate that into our Network as well so I hope to collaborate with a lot of you there and yes this comes down back to the nodes themselves the nodes are limited because the hardware um they're actually limited physically by Hardware so there's physical amount of CPU net and RAM and then as the network expands as what we call a network expansion basically there will be a rolling average around 65 or more then we'll be able to roll out the second phase of our node cell but right now we have 21 T1 nodes 84 T2 nodes and a 1000 T3 nodes that represent physical space on the network so I would actually at this time like to bring up our CEO Kenda cross to speak on our node cell hi everyone I'm candy cross again CEO of wire Network and Magnus hit and I touched on a few things but there's two key elements that I feel like everyone in this room should understand and be really excited about and that is he mentioned it before but it is bridgeless interoperability no I've been here all day listening and no one else has talked about this they've either talked about what bridge they're building how to make a better Bridge or sometime in the future these Bridges will get to a point of security where they won't be hacked for hundreds of millions of dollars so we decided many years ago that once we saw these Bridges being built we knew that there was an attack Vector so what we decided to do is said we don't want to make the next incremental development in blockchain we need to have something completely foreign that solves these Solutions Bridges will never be a thing they're always going to get hacked there is no path to security so what we did I have a financial background uh our investors are from former NASDAQ and so what we did said we need to bring something that's worked in the traditional Market and we need to modify it for blockchain and so here's where the bridgeless interoperability works if you if you've ever bought a stock through your Fidelity account or any other program and you bought it from the Nikkei you brought it from the NASDAQ any any sort of exchange well when Fidelity takes it in they don't take ownership of the stock depending on where it comes from they basically have a deed that is the rights to the ownership of the stock now this same mechanism works with nfts that we did not create but we're utilizing so with nfts you don't actually own the nft the blockchain owns the nft and IT projects ownership onto you so we already use the same mechanism in nfts is how the same thing that the financial system works for a stock market so what we've done is we said we are going to keep all assets on chain so bridging means that you are taking one asset from ethereum or Solana and you are going to take it over to polygon tezos whatever you're trying to do that's bridging and that's where the attack Vector happens uh so our interoperability keeps all assets where they are on their native chain and projects ownership up to a interoperability layer that allows all assets and all chains to interact with each other the same way the the stock market works the same way nfts work and on individual basis we've created an entire layer so that means with a once you've solved interoperability now you can have a universal wallet now you can have Universal swaps and you can have a secure layer that has no ability there's no attack Vector uh fair exchanges uh so that's the first thing and then the second one is we just if you understand how blockchains work for ethereum for example or polygon or cardano or anybody else you buy tokens and those tokens uh are then held applications are built on top of that chain and then when you interact with those applications you have to pay the gas fee so if you're if you have ethereum and you're on openc buying nfts or listing nfts you are paying a transaction fee every time that happens so where the nodes come in and this is the first uh we're the first blockchain to be doing this is we are allocating network resources to these nodes and what that means is if you take two two parallel identical companies uh we'll use openc since everyone knows the ethereum network if you have openc on as a in openc a every time you utilize it you have to pay transaction fees so that's how openc normally works or if you have opencb that functions like a web 2 product where all users have no gas fee which which of the Open Seas is going to have the most users in the in the most growth it's going to be the web 2 openc it doesn't have any uh transaction fees or barriers for your user to get into so that means that's where network resources come in so with network resources through the nodes you can whitelist your address and then when you build a product on top of our our Network you are allocating Network fees to the product so it is a web to experience in a web 3 product uh that's how that's how the future of blockchain is going to be it's going to be a web 2 experience with full blockchains powering it underneath and with free interactions for your users now we have three tiers and I haven't I have a good amount of time here so I want to get into uh consensus mechanisms as well so not only do you get network resources that are regenerative and last forever you also get a token allocation uh through the nodes that are depending on what kind of node that you want has a corresponding vesting period of the nodes and the third is consensus so a lot of people um if we've already decentralized our technology what's left we have to decentralize uh the consensus mechanism like how how votes happen how how things get approved to uh like Improvement proposals that ethereum has so so far everyone's gone the route where if you have the most money then and you own the most tokens of a particular Network then you get to decide the the outcome of the network and we said that maybe that may be how it is right now but that's not good enough that is still centralization so if you look at EOS for example um EOS had their token sale but then block one which is the biggest company was pretty much the king maker for Eos and so they decided the Future Path on their own what we've said is our our tier one nodes not only do you get network resources uh and not only are you Governors but you have to uh we have to vote for the council so even if you sit on a node you have proxies uh that get vote voted for and approved so even if you're Amazon and you are on our tier one node you have to submit candidates that the rest of the node holders get to vote on and approve in that in that proxy may not vote the way that Amazon itself would want would want the proxy to vote that's the way that we've decentralized it uh like more than anyone else has done right now because there's always your network is always acceptable to the value of the network so for example um if hedera hashgraph has a great consensus mechanism they've they've appointed um very high net worth companies multinationals to sit on their board okay well imagine that works and that is a step forward but it's not the ultimate solution so if the value of hedera hashgraph ends up being 15 trillion dollars in the value of the collective network of the multinationals is only 3 trillion they are going to start acting in the best interest of their company not hedera hashgraph so I'm running out of time but I want you guys to know that number one we have thought of everything through and through in every aspect from the blockchain to the protocols to the consensus to the gamification of the token we have taken a giant step forward in each Direction and if you want more information please get the QR code it'll give you the link to our node cell and we'd be more than happy for you guys to participate in our Network thank you