Hello. Hello, how are you doing? Good, how are you doing? Doing well, doing well. I'm actually on my vacation but it didn't stop me from wanting to talk to you guys so I made sure to find some time and get you guys in here. I'm really excited to talk to you guys about
the bridge is being built and all the work you guys are doing so let's give her a few minutes for people to roll on in and then we'll get things started. Cool. Anywhere fun? While I'm visiting family in Vancouver, Canada. Little chillies.
It's wet. It's very wet. So it beats where I was where there was still freezing rain. It's snow so we're sure. I'll take this. So let's give her a few minutes. So there's some tweets and get wait for some people to join and then we'll get things started. Thanks.
While we're waiting for people to join up, make sure you guys go check out cadenaecosystem.com. There's the website for all your cadena needs. It has all the projects that are building on cadena or have built on. We also have a calendar of our upcoming AMAs. We have a build section with job postings from around the cadena ecosystem.
where you can find jobs directly with the cadena team. Here at Eucalyptus Labs, our cells working with us. And there's also ones from Kaelin Finance and some more probably coming soon because there's lots of people joining into the space and lots of work to be had. So also make sure you guys go check out koala wallet.io.
the newest wallet, the passport to all your cadena needs. You can download it on both the Android and iOS app store. We just recently added NFT support and we also are adding in-app swaps and wallet connect right now as well. It's available
Currently on Android, we're still working with Apple to get it pushed through because Apple can be a bit of a pain. So just waiting for them to push it on through. But yeah, thank you very much everyone for coming. We do record all of our AMAs so they'll be live here on Twitter for 30 days. And we also down
download them and upload them to our YouTube and our SoundClouds. You can always catch our spaces after the fact and also go back and listen to the spaces that we've done before with many amazing projects throughout the cadena ecosystem. But today we are here to talk with some very important people. So it looks like we're getting some few people and like I said,
that it's recorded so no one's going to miss out on everything. So welcome everybody to another AMA with Kadina ecosystem. Today we have the folks from Teller here to tell us about some of the awesome work they're doing on the Kadina ecosystem and building some really much needed infrastructure. So why don't we go ahead with the
just introducing yourself and give us a description and tell people what Teller is all about. Sure. Hey, my name is Nick. I'm one of the founders here at Teller. Teller is a blockchain oracle. So to give you guys a brief description for those of you that don't know what
oracles are whenever you have a smart contract system, they actually can't read outside data. So the classic example is, if you're building a stable coin or you're building a derivative protocol, let's say you're betting on the price of Bitcoin. Well, your smart contract actually can't, doesn't know what the price of Bitcoin is. It can't read an API.
So you need somebody to place that information on chain for you. You could always use, you know, we could say, hey, you know, we trust Doug Doug's super cool. He's going to be our oracle and he's just going to place the price of Bitcoin in there. But there's a lot of centralization risks there. So what Teller does is teller creates a network
of reporters that will go in a crypto economically secure way, grab the information that you request, in this case the price of Bitcoin, what it's going to do is throw it on chain for you. And to just kind of give a super brief way that Teller does this.
We have what are called stake reporters. So anyone since the centralizes allowed to become a reporter. So what you would do is you would grab our token. This is the native teller token TRB and you would stake it into a smart contract on cadena. Then other people, which are going to be the users, they would come and request the data. So they would say,
Hey, if somebody puts on, you know, in our example, the price of Bitcoin, if somebody puts that value on chain, I'll pay you $1 or probably more like a quarter. All of those stake to reporters, people who deposited CRB, then are going to go race to grab the price of Bitcoin and put it on chain.
for your application to use. Whenever your application wants its thrown on chain, your application can usually wait a little bit of time because anybody is allowed to dispute the data if it's bad. It's this sort of optimistic approach to it. And then, usually after about five minutes, your protocol will use it and it will get the information that it needs in a completely trusted
And this example is obviously for prices, but as I'm sure we're going to get into it, we can do a whole lot more than prices and get off chain information such as real world data and get information about other chains, literally anything that you need. So, hope that was a good little intro for you.
Yeah, that was great. Now you guys have been around for quite a while. I've been in the crypto space since late 2017 So not maybe not as back as far as that but I remember seeing you guys with working with lots of other projects So it's not like you're a first building on cadena
you guys have an extensive history of working with some other major networks and building some really cool tools such as you just mentioned for them as well. But what made you guys look into cadena specifically and want to start building on there?
I think we had. So you're right as far as the fact that we've been in the space a while. So like I went full time into the space in 2017 and we were originally me and my co-founders. We were originally building a derivatives protocol.
And it was sort of novel at the time in 2017 and then we ran sort of headfirst into the Oracle problem. This was on Ethereum at the time. And so that's what we pivoted and kind of went all in on creating an Oracle for the space to use.
And actually the first iteration of Teller was actually proof of work. So in addition to that that stakes reporter mentality that I already described, we had a proof of work component as well.
a lot of our early miners back then are also cadena miners. And so we always had a nice relationship and we had stayed in touch. And really it was just one of these things where the values sort of
always aligned. We've always been pushing how can we be the most decentralized oracle that we can possibly be, and that it always aligned with Kadenas. Whenever we got the chance and your smart contract platform was ready, it just made sense to go over there.
Nice. Now, one thing you mentioned earlier about the centralization and decentralization, usually the services that you're offering are usually, as we know them in kind of a web tube base, very centralized, APIs, things like that, the people are pulling this data from.
are doing it is a more decentralized manner and utilizing the smart contracts built on top of these block tain. Could you maybe go into specifically like if how a user would actually use the platform for their data, what kind of things they can hook onto it,
it to use like if someone's building a certain platform, how could they utilize your services at Teller? Sure. Yeah, I mean a whole lot of different directions we can go with it. I think usually it's just when you need off-chain data, you'll sort of
node in your protocol. All smart contract functions have to be kicked off by somebody initially. There's not like a service that you can run that'll just do it for you. So the most classic example, like I said, is if you need a price feed, you want to do a
coin that's linked to the price of the S&P 500. It would be super cool, but how does your smart contract know the S&P 500? Well, you would need to ask an Oracle that question. Other pieces, if you wanted to even build a bridge, so bridges are also
Bridges are just oracles for very specific data. So if you're on cadena and you want to bridge to aetherium, the way that it usually works is someone on aetherium with Laka token and then a message will get passed. Somebody with an oracle would need to grab
grabbed that deposit event on Ethereum and then go min to token over on cadena and vice versa for going back and it's just basically how do you have this secure trusted messaging in a way that's actually decentralized. So how do you have it the way one person is not
doing this. Whenever you look at a lot of the other oracles out there, the classic oracle example is basically just a multi-sig. You trust a handful of people who two or three people are going to sign up on a message, and then we're going to
going to allow it. This works a lot in the space, shockingly. But usually there's a lot of problems around the edges and it really just doesn't fit with the ethos of anyone should be able to provide
this data and it should be secure because of how the system is set up, which is what Teller did. It's secure because you put money down and you're going to lose that money if you lie. And it's really not much more complex than that.
I honestly couldn't really understand you on that question. Yeah, I think you may have broken up a bit.
Yeah, but anyway, I don't know if he's gonna hop back on or... here he is.
Yeah guys, it just just gave me a thing that looks like the host hopped off. I don't know if I can approve you guys to answer any questions, but The big thing that we're we're looking for now with cadena If you guys if you guys know any users and one and actually
actually want price feeds or any information, you know, people who are building bridges, that's who we're trying to connect with, people who are building Nephi protocols, lending protocols, forks of stable coins. These are people that need price feeds and that's who we're looking at or act with. So if you know any in our
or trying to build it, definitely reach out. We'd love to connect. Some other things too is we're right now we're undergoing an audit. So we're going to an audit on there and then we're going to be bootstrapping the reporter network. So as I was talking about for, you know,
You basically get to build software that listens for these requests and then you have to go and fulfill these requests. So somebody asked for the price of Bitcoin, you have to go fetch the price of Bitcoin and put on chain at a risk you're getting slashed. So there's some risks there, but more
And also the time you're just fine and you make some money and a lot of times on main net and some other networks right now. Reporters are making a decent decent amount of money. So we'd love to give that opportunity to people over on cadena. So if you're a developer and want to or just sort of a kind of like an