Hey guys, I was so happy to have you.
So I think I need to make some of that as the feedback of the day. And I think that we should also have some extra thing for that. So yeah, let me make you guys a speaker.
Hi, Dave. Yeah, well, good.
is my worst what it will right now I just changed my mic maybe there was a mission with the no with the mic no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no#
that we're regarding this particular space and in the next couple of minutes we'll be having a lot more speakers, sorry, a lot more audience over here. So yeah, let's just wait for a couple of more minutes and then we'll get started shall we?
It seems like we have a lot of people in this split space right now, so we should get started right Alec.
Yeah, this was a clutch in the Twitter interface, but yeah, I'm here. Cool perfect. So yeah, hey guys, welcome to gate.io today space. Today we have Alex chefchenko who is the CEO of Aurora Labs. It's a pleasure to have you Alex in this today space.
Absolutely. Thanks for having me. Perfect. And honestly, it's a no brainer today that the world is moving towards carbon neutrality. And this is exactly where Alex is working towards. I would say that Aurora Labs is the perfect platform for building and scaling carbon neutral with three apps. But let's just have Alex to speak more about
project. So the stage is all yours Alex and my first question to you is that during the Dubai FinTech Summit speech you cited a note for the statistics of $16.1 trillion as the projected size of the asset tokenization market. Could you elaborate on why this information is important for businesses considering a transition to
Yeah, sure. And but also let me start since there are a lot of people here that may start with a short introduction to who am I and what actually the world allows us to do. So I'm in the crypto. I'm a techie PhD in the five physics and mathematics and the
and crypto movement started in 2015. So it's been quite a lot of different things happening. And the most recent project that I'm working on is Aurora. This is the IBM compatible L2 solution that is working on top of near protocol. The goal for Aurora is to bridge the gap in between
the scalability, carbon neutrality, and just a great user experience that can be delivered by a near protocol, together with the general acceptance and the availability of the tools around the theorem ecosystem. So we
So we're literally combining two worlds together and making sure that Ethereum applications can scale. Now, the way how we're doing it is through enabling of the EVM compatible network that is working on top of the near protocol or using near protocol as its engine, right, for process and
transactions. Literally Aurora is an L2 that is working top of mirror with all of the transactions settled on the scalable near protocol. So from that standpoint Aurora is a protocol with decentralized sick
any other solutions presented in the L2 space at the moment. Besides that, Aurora is working just as a smart contract at the top of Nier, which means that you are able to encode many different things in the NIDS, right? Custom fee models, permissioned access and things like that. And this is particularly interesting for
for the first questions that you raised, right? The tokenization of the real world assets. So what we see within the Aurora, yeah, and by the way, Aurora Labs is just the development company that develops Aurora Pro, right? So I'm the CEO of this company.
What is particularly interesting, what we see in rural areas, that quite a lot of businesses right now are looking in the tokenization of the real world assets. Literally, it just means that what this company is willing to do is to make sure
that some of the real world assets, securities or bonds or different things are available on chain. There are multiple advantages of this. First of all, the tokenization improves the affordability through fractionalization of
the assets. In case the investor, for example, is not able to buy the whole real estate or this particular commercial real estate and he is able to buy just the portion of it. It enables the accessibility to this
through just ordinary crypto markets, right? That are operating 24/7 unlike the ordinary exchanges. Importantly, it also looks at liquidity for this asset. So in case the investor is investing, for example, in stock of the company, it is extremely hard to
liquidate is positioned there because he needs to wait for the liquidity event. With the token in case there is a market created for this token, then this asset becomes much more liquid. Blockchain here also in general forces transparency, simplifies compliance,
procedures and so on. And the good thing also is that the whole world, maybe except of one big country in the North America, is moving towards the proper legislation around the DLT technology in general and the tokens.
And from the standpoint, the deregulator landscapes becomes much more clearer. So that's pretty much it. And all of the major firms are predicting that the tokenization of real-world assets is going to be an extremely big thing.
Like the early days of crypto, we probably are going to see much less of a scammy project, much less of the pump and dump schemes, but rather see, for example, Apple stock available on chain as a token, or potentially gold available.
a stock and well actually there are quite a lot of projects that quite several projects were making it available on chain or we're going to see square meters of this but all these properties available on chain as tokens. Yeah so that's that's the move of the world at the moment.
Actually, I really like the way you took a jive on that particular one country in North America. We won't be taking names. Yeah, uh, uh, keeping that thing aside, my second question to you is that a lot of the two companies and their respective CEOs, you know, they always have this query that, uh, what are the benefits of putting their businesses on change?
So can you please put some light on that as well? Yeah, so this is what I was already talking about. So the fractionalization of the assets making these assets more accessible because blockchain
So, for example, in case we're talking about the
transfers of the stock will just just come and share so the company then usually it is pretty complicated process it requires quite a lot of quite a lot of paperwork and in case we engage the research setup that allows to to to
issues, talks as talking some chain, and all of us have been training some of the talkings probably many times. So this is quite simple and an unseemless way of how to do this. Yeah, and also besides that,
In general, probably the last point that I can mention here is the better price discovery. Again, in the, but this is like a consequence of the better liquidity, right? In case the, in case the assets are more represented and more available to, to
to general public or to more people. The price discovery is not much better and there are less intermediaries. All of these are the benefits for tokenization of the real world assets.
But actually, as a friend of mine who just texted me in my DM and he's asking me to ask you about this. So he says that he has a successful business in Web2. But at the same time, if he wants to make a transition to Web3, that is on chain, what are the key tips to make that transition successful? Yeah, that's a great question.
So, in general, I would say to your friend that, first of all, he needs to understand what the blockchain can offer to his business. So, blockchain is not a silver bullet. It is not something that you need to apply everywhere without thinking.
That was back in 2017 when people started to write a blockchain next to their company name and then their valuation was tripled overnight And right now it's you can I it's much better to understand what is the actual use case? So in case the reason use case when When the business is going to benefit from
from it, for example, tokenization of the shares of the business or maybe tokenization of some of the assets that the business has, then eventually it makes sense. I can tell you a couple of examples of our clients that are doing a transition from Web 2 to Web 3. So one of the clients is a pretty
a big European green energy company. So what they are willing to do is to tokenize their business. And this is the typical use case of Asian security tokens that are representing the ownership of the business. The reason why they are willing to do this is because all of these things that I was already
the talk about, right, improving the liquidity, improving the affordability through fractionization. In general, their mind setup is towards the democratizing the market for green energy. And though, issue and security tokens for them is
is just the first step in the future they see that they are going to put energy markets, own chain, make sure that there are derivatives for the energy, for example, like futures on energy, and then it just makes quite a lot of sense, right? In case you're able, in some or why some energy futures on energy
energy for winter, maybe at lower price, then you can hedge your risks against the cold winter. So this is one example here. There is another example and this is a large construction company. What they are seeing in the market is that the typical
a political investor who is coming to them and is willing to invest in the real estate, he is a person who would like to make sure that he has a stable asset that brings some dividends because when he buys a, for example, a flat, he is able to rent out this flat and then
and get some interest on top of it. However, the barrier for entering this market is pretty steep because you need to invest several hundred thousand US dollars to buy a proper property. Because of these, the construction company
is they are able to produce more buildings. Unfortunately, there is not enough big investors who wouldn't participate in this. And they are missing out on the smaller investor, on the long tail of smaller investors that are able to put, for example, a check
I just started with 10,000 US dollars. And for them, the most important piece, or the most important advantage of the tokenization of the real estate, is the fractionalization. So liquidity is less important for them because they see that their investors are tendin to invest and hold the
position for substantial time. This is their profile. However, making it more affordable and removing this steep barrier to entry is an important piece. So that's, yeah, oh, and let me throw in the third example actually. And the third example
is a big producer of plastics. So there is this thing called PVC, right? Many things in our world are made of PVC at the moment. The way how the production supply chain is working there, the rust and factor is that are producing PVC resin or, you know,
small granules and then this resin is supplied to the factories that are producing goods out of it. And the specifics of the supply chain is that there are quite a lot of intermediaries that are extracted by a lot of value out of this vertical. And so literally they are just reseller.
They kind of pretend to the resin producers that they go into produce some goods and then they pretend into the actual factories that are producing goods that they are producing of a resin. So that's quite
that, because the value that is extracted is lost somewhere in the middle. And what makes sense in this particular supply chain news case is to introduce a blockchain solution within which goal
the participants would be able to trace the origin of the like the source of the resin and how it is transferred over the supply chain till the actual good that is produced out of it. This not only removes the middle man from the whole supply
chain, but also it improves the compliance procedures because in some of the countries, in order if you would like to get an accreditation that this is something that is produced in this particular country, which may be very important for tax consequences, you
need to prove the fact that actually you've got all of the components that are produced in this country or you need to have a sort of trash hole like 60% of the components produced in this particular country. So through the blockchain solution here they will be able actually to trace and make sure that they are compliant and
they will be able to actually prove to the regulators and to the tax authorities that it is this amount of taxes that they need to pay. So here you go, three different examples that are utilized at different advantages. And this is something that can spark the imagination of your friends.
Actually, it's quite a funny coincidence that you mentioned the third point about that PVC example because the friend who I was talking about, he's also a merchant in the polymer industry. He's actually a merchant in the polycarbonate. So he tries to buy and reseal the polycarbonate raisins and all the renewals that you know, I just say.
Yeah, so he was telling me that the way the blockchain affects the supply chain is really amazing in a very positive manner. But yes, he's also concerned about the legal side of the issues of moving his business to the on-chain as well. So yeah, do you want to talk about that as well? Yeah, absolutely. I mean, everybody, everybody
in the Web2 space were freaking out about the blockchain and the regulatory landscape about it. When I was first joining the blockchain movement in 2015, the wipes were, "Oh my God, these people are doing something with Bitcoin and this is something that is used to buy drugs and guns on the Black Mark."
Then things transitioned into 2017 when people started to say, "Oh, this is like for the ICO schemes, right?" So this is just the pump and dump schemes. Then, you know, crypto summer went in in 2020 and people were saying, "Oh, okay, it seems like there is something in it."
So over the weekend, for example, when the New York Stock Exchange is closed, that what I can do is actually to trade some things here. And, well, actually, these guys in DeFi, they reinvented or reinstalled all of the financial instruments. Right? Now, there are derivatives, there are different perpetrators.
shows and stuff like that. So that's pretty cool. And then there is NFTs, right? And digital collectible things. So the world started what I see is that the world and what we see right now is that quite a lot of businesses are just saying, yeah, we would like to move in this direction. And obviously, obviously, the
regulation and all of the prominent jurisdictions are moving into this really really fast. At the moment we can say that almost the whole world has right now the specific DLT regulation, in case you're a company who is providing DLT
and the duality services or the duality products, and you probably should be subjected in the majority of the jurisdictions to the duality regulation. And then there are some engineering crypto regulations, right? What is treated as a token, what different types of tokens are
exist, what kind of procedures and policies that you need to install inside of your company to follow this, there's regulations and stuff like that. So I really, I really encourage government in case somebody from the government is listening to this to move on fast with this because blockchain is really able to
unlock many many different things. And I understand that that right now the eyes, all of the eyes of the tech world is on AI. However, actually from my point of view, blockchain is this thing that can power AI innovation because what we are getting to
If that all of the large language models or general neural networks, they are given to their limits because the data that they use is quite limited. And that's why we're bumping into the use case that we need to enhance this data in usual ways how people are doing this is, you know, putting human
And then they need to label this data, they need to put in descriptions about this data and stuff like that. And how to facilitate efficiently this and to make it democratic. So in case we don't want Google and Microsoft to be the only companies that are actually doing some innovation in AI space, then we need to do that.
democratize this and well if you will combine the idea that there are tons of data that needs to be labeled or enhanced and for this we need to use tons of humans and then these humans need to be re-unumirated and that means that they need to get fractions of sense for every single piece of job that they're doing
And what is the proper instrument to use in order to distribute some value to the humans who are participating in this? And well, the answer to this question was delivered to us around 14 years ago by Bitcoin. So that is exactly how the lockshank and power
the AI revolution too. So regulations around blockchain is extremely important for any country in the world, I believe, and great that some of the countries moving towards this. And it is a shame that some other countries are not doing it.
Well, it is really great that I find you and me both on the same page in terms of, you know, having regulations in crypto. A lot of people in crypto says that there is no need of it because that's a reason why crypto came up, you know, because there is no regulation, but I strongly feel that a sustainable, you know, kind of a regulation is very important because there are a lot of
because the other mass is the whole point of mass adoption. So yeah, that's really great that you do support regulations in a good way. I also wanted to comment here from the web 2/wap3 experience. Web 3 started as a
rebellion against Web 2. Web 3 vision was to democratize the network, make sure that more people are banned, more people are in control of their governance powers, are in control of their assets and stuff like that.
is all great, no problem. But the regulation part is not contradicting to it. Moreover, regulation is going to put crypto outside of the grey zone, make sure that a bigger market is available for crypto and blockchain technologies. Just think of this. The total market cap of all crypto combined
at the moment is less than 50% of a single California company, right? So, like, what are we talking about? What kind of mass adoption? It means nothing. If Apple can just, you know, just go and buy all crypto in the world.
There is no massive option. The rebellion set up for the blockchain, it should end if we don't want to extend. Instead, what we can do
And we know that our vision is great. We know that we are able to execute on the technology delivery. What we need to do, we need to sell this to web to companies to make them X2. And then, probably then, within this X2 move, we are going to
extract some value and then the crypto industry or like the blockchain industry is going to become a pretty major piece of the global economy and this is the move that needs to happen and it is not going to happen without the regulation right so regulation is just a basis point for this to move forward
That's really great. But now, yeah, let's come back to the last question that I wanted to ask you and that is like, can you provide some examples of industries where the on-chain approach has been really successful. Like I know that you mentioned about, you know, the three companies that went, that made a transition to the three, but how about the industries that are making the transition and they are
been really successful in that? Yeah, so well, first of all, what we see with with DeFi, I think that what we have seen with the DeFi summer completely unregulated, you know, that is just just a spark out of which we are going to see permission
high, more and more financial institutions, regulated financial institutions, come in on-chain, proposing their financial instruments available on-chain. So I easily can see, I easily can see, revolute, launching different financial services on top of a blockchain. With
the KYC that is performed for their users with the access only to the markets where there are proper AMO checks and so on, right? It's not just some trading on the theorem with potentially unknown money that were laundered through
or not a cash. No, completely different. I see this as a separate blockchain where the entrance to this blockchain is security guarded by the compliance department of Revolute and where people still are able to access all these financial instruments. So that's the first
Second thing, obviously, the NFT space and in general industries that are heavily relying on the user engagement. There is the whole set of these verticals. Gambling, games, just
collectibles, ticketing, stuff like that. For all of these verticals, it is extremely important to have a user engaged in the activity. And the higher is the user engagement, the higher is the profitability of the business, which means that like literally
translates into the more person they spend in his time in the application, the more he buys. And from that standpoint, what blockchain is able to provide here is the sense or the feeling of the ownership of an asset. We've seen this a lot with
with a freemium games or like free games free to play games or free to play games available right like with Counter Strike and Delta and League of Legends and stuff like that PUBG where people are buying a different skin that are not changing the game mechanics however
it gives to them personalization of their character which increases the engagement. And these industries are going to benefit from the blockchain because the main premise of the blockchain is that you are in control of your assets. It's not just some kind of points
that are displayed in one application, you're actually able to see in this point, belong to you because they are located in your own crypto wallet in the form of a token. I think that that supply chain also is going to be transitioning to something much better than it is right now.
now with all of the Excel spreadsheets and so on. I think that if you recall several years ago, IBM with their HyperLager project was trying to work towards the supply chain use case with Marsk and some
other companies and they failed. I think that they were too early to the market and it makes sense with all of the regulation that is already in place, for example, like European Union just took a couple of weeks ago approved Mika regulation. That's another step towards this.
So, and now it is much safer to deploy your solution. And yeah, so to play general and my personal best, right, the actual reason why I'm working in the blockchain
a very long-term projection in the future is the government's procedures and different governance processes. So I believe that what we have right now, even the most prominent vote in the system, for example,
example that is used in the democratic countries, these systems and this setup is extremely outdated. It is prone to errors, it is prone to fraud and with the blockchain, with zero knowledge technologies, we are able
And we've actually built already much better solution. Unfortunately, the government is a pretty slow process for educating governments. And they still would like to have more control instead of the uncontrollable decentralized open and auditable way. So instead of these
trying to keep everything in four walls and just tell to the world that, okay, these are the results and the president is not going to, and first of all, he's going to remain in his sits. So that's it. I believe that the government
are going to change a lot with the blockchain. Well, I think the change is actually coming and because I just recently saw red and news where it said that all the G20 countries are having a meeting just to have a discussion on the three-end blockchain technology as well. But I don't know what exactly are they discussing, whether they are discussing that in a negative manner, in a positive way.
But yes, things are moving towards the regulation side as well. And I hope so that it's in the positive end. But yeah, that's pretty much I think, you know, I think you have answered all my queries that I had for your project. But I think we should now be moving towards the audience so that they can even ask you the questions. And right now I request all the
audience to start asking their questions in the comment section or if Alex want, you know, we can pick the speakers from the, you know, from from the space itself. So yeah, hey guys, just ask your questions in the comment section and Alex, you can simply, you know, choose the, you can simply choose the speakers for today's session.
Okay, so I'm just going to read through different comments here. And yes, by the way, I just sorry to interrupt you. The comments actually picking up a day will be
the winner for today's ea so if you are picking up any comment do also mention there you you know use the name as well so that it's easy for us to pick them as winners. Yeah. Yeah.
So, the one is asking one question about CBDCs and how do you see a ROR network's blockchain fit in the larger landscape of digital currencies. So, general, my comment about CBDCs is that this is a proper thing to tackle. Unfortunately, central banks right now, they are doing quite a lot of extremely stupid moves.
in this direction. So we have seen the kind of Francis the trial to do this. Just like the code for the smart contract, it was literally like written by kids or something. People who know nothing about it, right? So it is very
very far from the actual things that you are actually put on chain. So still I believe there is a gap in between what central banks want and the top control that they want to have and what they are able to do. In terms of how we are contributing
general into transitioning the businesses into the blockchain domain. I would encourage everyone to go and visit Aurora Cloud's Dev website. This is our proposal to the businesses, how they are able to transition
So Aurora Cloud is a set of tools available for businesses to make sure that they are transitioned into the blockchain. This set of tools has many different components. It has a separate solution to deploy your own chain with optional
compliance procedures, KWACN and AML checks additional fence. It also includes the solution that allows them to make sure that transactions on this blockchain is free for the users or free for some of the users. This thing is
into the main of a better user experience and tools for better user experience and also the marketing tools, right? When they are able to introduce some kind of marketing campaigns, for example, you know, print transactions for everybody in the US within the Halloween weekend.
And then there is another thing that we have. And this is the Web3 compatible wallet that is working with all of the Aurora Cloud instances, or as we call it, Aurora silos, where all of the transactions are free for the end user.
For the end user so this is a web through wallet where user doesn't need to think about purchase transaction fees and other complicated aspects of the blockchain technology so And from that standpoint that's that's a pretty advanced piece of things right account abstraction on Aurora is note
an abstraction for already for two years. In case you're willing to, in case you're a development company, you're willing to work with it, you can just come and deploy your solution on top of a world. Slayer is asking a couple of questions. One is the TPS for a network. Is it possible to achieve more higher TPS
and future if it needs. So at the moment, Aurora is capable of having something like an X10, compared to Ethereum, in terms of the TVS. So we were talking about 15 million transactions per day. This is something that has happened in there.
We are working on the solution that completely that is kind of increasing at X 10 right now. There is a very specific way how to do this. But in general, I'm so I'm going to tell you that the EVM, the way how EVM is constructed, it is fundamentally non-scale of
anyone who is telling you that they go into scale the EVM to you know tens of thousands of transactions per second they align in your face right this cannot happen. So the only way the only way now the blockchain can be scaled if we're talking about EVM compatible blockchains.
is just having more blockchains. You just need to have hundreds and thousands of blockchains. And the important piece here is the cross-interaction in between these blockchains. How this is going to work. A previous couple of years has proven that very few companies in the ecosystem are
are able to launch proper intraperability protocols or bridges as we call them, including overall labs. So our bridge that we launched and we are developing the rainbow bridge is one of the biggest bridges, trustless and permissionless bridge in
between Ethereum and some kind of other network. In our case, it is Aurora and Near. And it is damn hot to build these things. So yeah, and for interoperability, the good thing for the Aurora Cloud solution is that all of the Aurora Cloud instances, even
in case they are launched by separate companies, they are able to cross call each other. So they are composable, right, or inter, or able to be inter-called. So you can easily imagine the solution when you're building, for example, a next, next kind of
bank. For example, this bank is able to get the user reputation from one Aurora Cloud instance, or one chain, or a chain, and then tap into run some scoring algorithms on top of this and then go and borrow liquidity from the Aurora
DeFi chain or whatever, or this particular country's DeFi chain and then get this liquidity to the customer and land it there. So although this is possible even in the single transaction, so that's pretty cool. So from that standpoint, our solution for achieving
higher TPS is there are some incremental improvements in the code of Aurora that will bring it to several thousand transactions per second. However, this is the limit, this is the wall that everyone is going to hit and after this
our solution for scalability is the cross-contract calls in between different Aurora networks and just ability to launch as many of them as possible. In terms of the Aurora talking utility, that's a great question because literally today, or
has approved an update to Aurora Talken economy. So I don't know whether you know these or not Aurora Protocol has its own governance token which is called Aurora. By the way, it is listed on Gata. You have this public information, not a financial advice to invest
or to whatever to do with it, anything, please make your own decisions on this. But the update of the Euro-Token economy has happened or has voted on literally today. The major update there is that with each transaction that is
performed on any Aurora instance, including Aurora Mainnet or any of the Aurora Cloud instances that are launched. A small portion of Aurora is going to be burned. So that is quite a straightforward utility that is
that is used by many L1 protocols like ETH or NEAR. And besides that, the Aurora token is going to implement the VE curve style model for the distribution of the incentives within Aurora Community Treasury.
You are able to, so these are two kind of core pieces. There are some additional updates to the token economy. In general, if you're interested in order to the economy and this particular update, I encourage you to go and check out my Twitter thread from today, from earlier today, about this update.
Perfect. So do you want to pick another person? Maybe you would have been selected so far. Okay.
I don't know, how many people have you selected so far for the questions? I think it's true, right? Or is it three? Yeah, it's just two. Okay, let's go further. Yeah, sure.
By the way, I was really intrigued with the point that you made that there are a lot of CBDCs, I mean the countries who have made their CBDCs and if you had a chance to look at their contract address, not contract address but actually the
Yeah, yeah, I don't know like this it's indeed pretty weird, right? I think it's just the governments are pursuing this the following way. Oh, okay, there is something that is happening with CVDC. So we like the train is live and we need to hop on it.
right now. And then, well, we need to do something about it, some kind of thing. Let's find some researchers in some kind of institutes, and then they will be, and then they will do something for us, right? That's just their approach to this.
Yeah, there were some questions.
about Aurora Cloud, but I think that we have been going through this. Tannen is asking the pretty general questions about the security of Aurora. Let me comment on this. I believe Aurora Lab is a team and especially security
the department is one of the most advanced security departments in the industry as a whole. So Aurora Smart Contracts has never been hacked and this is due to all of the precautionary measures and layered security approach
So for us security is the key and well, our result speaks for for themselves. So Aurora smart contracts have been the home for several billion of US dollars and they were never been exposed.
the smart contracts that we are building are one of the most complicated smart contracts in the world because Aurora itself or main net is not the chain. It looks and feels like a chain but in fact what it is, it is a smart contract on top of near. So we just think of this. We have put in the smart contract the whole freaking
can evm it is a gigantic smart contract right and and the way how we are protecting it the way how we are protecting user funds in this in this particular contract and also in the rainbow bridge since we also the maintainer so the rainbow bridge is like advanced layers of security for us security
everything because I mean from security the thing that stems out of security is trust. I believe our users are having quite a lot of trust to what we are producing.
Oh, Rosie is asking the question about when the role team release premium version of Aurora Plus or maybe the other means to get more free transactions. Rosie, thanks for following up on this. So we have been thinking in the beginning of Aurora Plus, which is for everybody.
to who are not yet in the Roraka system go check out or roor.plus. This is a website for you to easily onboard to the Roraka system. In case you are going to onboard through Roraflust then you're going to have a very specific setup of your Metamask or any other wallet that you're using and within
this wallet you're going to get 50 free transactions per month. So we were thinking that there should be some kind of premium subscription on it and so people are able to get more free transactions per month. And what is going to happen is with the release of this wallet, our own
of the wallets that I have been talking about half an hour ago. We are going to move all of the functionality directly into this wallet. And the RORA Plus is going to become just an ordinary DAAP for discovery of different services on top of Aurora and participating in
the governance. So this is what is going to happen. So the free transaction stuff is going to be moved to the wallet. And the way how it is going to work there is that every user of Aurora pass, this is how the wallet is called, is going to get this same
50 free transactions, right? So nothing changes, it's changing the here. But in case the user would be willing to get more transactions, they will be able to just purchase a bundle of transactions as a usual purchase in the web to mobile application. So you just look at the screen, you buy whatever.
X amount of dollars you're getting a thousand transactions or 500 transactions or a hundred transactions and that's it you're not touching crypto there is no need to do k way see and stuff like that it works like magic just in just one second you're getting these three transactions this is going to be the experience that
that you're going to have with the Aurora Pass. And as I mentioned in the beginning, there will be no per transaction fees, no such things as stuck transactions, the need to speed up the transactions and stuff like that. The attack is taking care of it by itself.
I think that's the last question that we are looking for and it should be a pretty good one. Okay, sure, absolutely. But I can also answer some of the other questions.
Yeah, Slay 649 is asking a question what was the biggest milestone of Aurora and recent funds. I would say that this milestone is the launch of Aurora Cloud. Aurora Cloud, this technology, this idea of on-premise deployment of the EVM comparable
networks that are integrated with other EVM-competible networks, including Aurora Mainnet, that idea was the core idea of the whole development of Aurora. This was something that we have been thinking of two and a half years ago, then Aurora Project started. We have been the
designing all of the rural architecture around this idea. We were anticipating that, well, the world needs to move towards the mass adoption. This is only possible with EVM because this is a defector standard. And because of the EVM, the only way
to do it is to have many, many different EVMs that are actually, and in order to make it simple, these EVMs should be able to interact with each other. This is exactly, if you will think of it, this is exactly how Internet is working. There are lots of different servers that are somewhere there.
Not everything is located on a single server, right? So, sometimes, sometimes for example, large exchanges are using mainframes, but in general the internet is just the tons of computers, right? And these computers are able to
to talk to each other through things that I call API and RPC calls. So I'm able to clear information from the weather RPC when I'm using the weather application of my iPhone. So it's not information that is in time of my device, but rather I'm
go in there, I'm querying this information and it is downloaded. So the reason interconnection in between all of the servers, that is how the world is working right now. So if you think of it, the blockchain should work up to the same way. You have a blockchain that is EVM
It is set of codes that is executed on, but it is decentralized, right, in terms of the governance, right. But essentially all of the computers are executed on absolutely the same code, right. So one blockchain is kind of like one single server in the
in the ordinary world, right? But then there are lots of servers in order to scale it, right? And then you need to interconnect between them. So yeah, that's why the architecture for Aurora is exactly like it is right now. And for us, the release of Aurora Cloud is the major milestone.
Perfect, that's great. But you know, I would really love this to just face to go on and on because I can see there are a lot of people still joining and I can say that there are like more than 300 people live. But due to limitation of time, we could only have like five
questions from the audience. But I know that since there are a lot of questions for the overall labs, I think a lot of audience can go to your Twitter page and then they can definitely ask you all the questions that they have for the project.
But yeah, thank you Alex for answering all the queries of our Twitter space audience and yeah, I hope so that we have more such interviews in the future and yeah, it was pleasure hosting this particular to this space for you and for all the gay.io audience.
Okay, thanks, Deb. Just a quick shout out to the Gatorio, being a very good and very forward looking exchange. Gatorio, I was telling that Aurora talking is listed on Gatorio, but the thing that I was not
Not to mention here is that GATO is one of the few exchanges, centralized exchanges that support the work with directly with Aurora Network. So in the majority of the cases, centralized exchanges are listed.
Ethereum version of Aurora token, however, Gita-Yur supports also deposits and withdrawals directly from the Aurora network. So again, not a financial advice, just wanting to highly
like this as a feature of gate. And thanks for being a great integration partner. It is always easy to work with your technical team to make sure that the users are getting all the best out of the crypto world.
I'm really glad that you had such good thoughts about us. So yeah, thanks a lot and yeah, we hope to see you soon. Till then bye everyone.