Good morning, good afternoon, good evening from whatever time zone we all are. Thank you for
being here. Today we have a very interesting Twitter space together with Sci Network and
we are going to ask them some questions which can be very interesting. First of all, short
introduction, my name is Derek, I work for the private global team as a social media specialist
and today I'm your host for this Twitter space. I believe I gave the Sci Network account access
to speak, am I correct? Yes sir, testing 123 mic check. Yes, good morning sir, how are you?
Excellent, very good thank you, happy Friday wherever everybody is in the world. Yeah, at
least we have one thing in common, I think it's everywhere Friday so that's good. Happy
Friday to you as well sir. Thank you very much. So for everybody for understanding, today
we have a Twitter space and we are going to ask the Sci Network some very interesting
questions about where they are going with the network and about some more in depth
information about the network and after that I would like to guide you all to the
Bobbit official telegram, if I'm not mistaken, it's also in your community I see and from
there we are going to do a quiz according this Twitter space and I believe there are
some prizes to win. So it's very interesting times, I think we should start with the questions,
are you ready for it? Absolutely, so yeah maybe I'll do a quick intro and say hi, so my name is
Grover, I'm the head of marketing at SAAY, I've been with the team at SAAY Labs since just about the
start and it's been a long and very interesting route for sure, yeah super psyched to share
more about SAAY and what's going on over here. Thank you for your introduction and a very warm
welcome. I think recently we saw SAAY a lot of in the news and the token price also increased a
lot in price, I think of course we also end up trying to the market but there are some very
interesting developments going on I think in your side so we would love to hear more about that
today. Sure, so yeah maybe I'll give a brief overview of what SAAY is and sort of the core vision
and motivations, so some context, a lot of the team on SAAY Labs are from the Bay Area in San
Francisco and have some experience in other sort of high-paced tech companies, originally the co-founder
Jay was Robin Hood and he went through the whole sort of gain-stop saga and buttons being
switched off on the app and that inspired him to want to build his own on-chain exchange that
would rival centralized exchanges but he realized that the infrastructure didn't exist, it just
isn't possible. So this was the inspiration originally to build SAAY which was to facilitate
crypto apps that have a web2-like experience but all the benefits of crypto like self-custody and
decentralization. So the actual thesis here originally with SAAY is to build the most
performant and highest or fastest time to finality blockchain infrastructure possible
which is accessible and open to as many developers as possible so we can truly move the needle in
the crypto space forwards and change the on-chain experience for everybody from gas prices at whatever
some crazy crazy numbers to something you could actually use and practically use in your
in your day-to-day life. Thank you for the introduction, maybe some background information
for the people that don't know when you were talking about the GameStop and the exchange
experience. Correct me if I'm wrong but I believe I think it was approximately two years ago there
was like a hype on the GameStop stock and it was traded a lot and go up a lot like which is not
usual for those kind of stocks and I believe some exchanges hold on trading the stock, am I correct?
So yeah I mean there's a lot of context there I think that the shortest version is there was
something called a short squeeze on the stock and so it was then not in the interests of
certain parties for people to continue being able to buy that stock via Robinhood.
I think there was like a congressional hearing about it and there was like I don't believe
anything like illegal would happen but it was definitely not in the best interests of the
users of Robinhood and definitely not transparent which is the whole point of crypto and that's
like the promise of crypto is that nobody can just switch off the buy button that's
kind of where that comes from. Okay thank you, oh man it's already two and a half years ago I see.
It's crazy. Yeah it's crazy how fast the times are going especially if you're in crypto I mean
sometimes a month can feel like a year but thank you for the introduction.
So we have like a brief overview and the core vision behind it
question what inspired the development of SciV2 and what were the motivation to propose this upgrade
to Sci? Sure yeah so we spoke to a ton of developers post-launch
so say launched in August this this past year 2023 and a lot of the feedback was that
they want EVM support there's so much work and tooling and so many applications have been built
so much mindshare around the EVM it has like I mean that's where the majority of the developers
are you kind of have to go and meet the market where it is so it made a lot of sense for us to
to revive the project that was started back in 2022 which is to support the EVM on say.
So what this really means is that you will be able to take any application on Ethereum in the Ethereum
ecosystem so whereas layer 2 is or layer 1 and you'll be able to run it on say with no changes
and you'll get the performance similar similar performance to Solana so this just like completely
changes the game for anybody who's who's using Uniswap or any of these applications even on
layer 2s it's just a completely different ball game so Saylabs has basically set out to
incorporate Geth which is the most popular EVM client into Say's core binary because that's the
most battle-tested implementation of the EVM and yeah there are a bunch of other improvements
and design motivations to get into but the main thing that you should it should know about this
is that you'll be able to run Ethereum applications with the performance of Solana and all of this
contributes back to the idea I mentioned before about building the most performant blockchain
infrastructure possible. Thank you thank you for your answer you mentioned something that it will
change the user experience compared to for example Uniswap am I correct?
Sure yeah so you'll be able to so for example if everybody's quite familiar with Ethereum it takes
sort of like 20 minutes to get all the block confirmations for finality to happen so imagine
that except now when you're clicking swap this is just an example on Uniswap it could be any
application but let's imagine you go and you make a trade instead of it taking like 10 minutes 15
minutes to get all the block confirmations like yes there's no reorgs here it's finalized
it would take more like 400 milliseconds or less so I think human reaction times there are
something like 300 so you know if you blink and it's done there's no reorgs it's like single
slot finality so yeah that's what I mean by like web2 experience it's just the snappiness
is the change and that's just for the users for the developers it means a bunch of things
it means you don't have to do all these crazy gas optimizations it means you
you can now go for something like 12 and a half thousand TPS versus 30 right so like if you can
picture like you know what do they need they need to escape the sort of the shackles of 30 TPS and
everybody trying to fight over the same block space on Ethereum layer one well hey why not
why not try 12 and a half thousand that sounds like that sounds like fun to me so
yeah we're really interested to see what kind of apps get built out in that
new environment we call it a new design space for that reason because a lot of the limitations
that are in place right now on Ethereum will just be completely gone so that's I think the
most exciting part interesting you mentioned something with gas fees as well I haven't
tried the sign network myself I'm very excited to try it out like what are the approximately
gas fees that you pay for sure yeah so so right now I think it's like 0.01 say or less
that is actually somewhat inflated and I know a lot of people are asking the question like hey
can it be less and yes the answer is yes it absolutely can be less so yeah stay tuned on
that front I think once the EVM work is complete that's going to be something else that will come
next is is ramping down the fees to Solana like levels of you know naught point naught naught
whatever more zeros so yeah that's actually that's actually a very important point so yeah but
infinitely cheaper than using mainnet or even layer twos on on bad days true true okay
let's drive a little bit in into the paralyzed EVM and the impact of that
could you please explain in like simple terms what it means and what the key advantages are
sure yeah so say when it launches the save you to upgrade subject to governance etc will be the first
fully paralyzed EVM blockchain so I think it's important to explain what parallelization is
in simple terms so people can kind of like understand what it means so the best analogy I have
right now is let's say you have a vending machine and it's a hot day you really really
want to go and get a drink the vending machine serves like 10 different types of drinks so coke
sprite fanta etc the problem is that everybody else is really thirsty and they all want a drink
as well so you've got a queue of everybody you know whether you want a coke or a sprite or a
fanta you have to queue with another 50 people to get there so instead if you were to parallelize
the vending machines let's say now you have five vending machines one sells coke one sells fanta
one sells sprite so now you don't have to queue if you want sprite and everyone else wants fanta
you can just go and get it directly so the analogy here is different transactions
that touch different parts of say state can take place at the same time so maybe one another way
to think about it is if there's three NFT minutes going on at the same time all of those transactions
would have to queue on Ethereum mainnet like they don't have to process sequentially one after the
other but instead if you parallelize the process now you can interact with those different NFT
minutes at the same time and you don't have to queue with the other guys so like that's the
the best analogy i have right now hopefully we'll get a hopefully it's simple enough i think i think
there's probably some oversimplification already but basically this leads to a reasonable
performance boost just by itself so on say v2 a little bit more detail that the process itself
will be optimistic which means that developers don't actually have to do anything building their
apps all the transactions are assumed to be parallelizable on say so the fancy name for that
is optimistic concurrency control but yeah so by operating the evm on top of say you don't
just get the benefit from that optimistic parallelization but it also means you get
the fastest time to finality of any blockchain using say's twin turbo consensus mechanism and
like i mentioned before it's like you know 300 400 millisecond time to finality is just
just wildly different to the experience on any other blockchain you'll be able to use metamask
any other ethereum wallets you're familiar with design both evm and was wasn't transactions on
say so yeah that's a bit more on the the parallelization piece thank you thank you
yeah i think it was a very good explanation for the people that are not like that
tech related with defending machine it also doesn't like make more sense
um apart from the optimistic parallelization what other improvements does sci-fi to bring
yeah so um the first thing is that say we'll now have two execution environments so we'll have
cosmos cosm wasm execution environment and evm running at the same time uh all part of say's core
binary so not like on top of say as a set of smart contracts or like as a layer two or anything
like that it's actually built into the chain fully bytecode compatible it adds all this stuff
about optimistic parallelization i mentioned before um the other thing which is also quite
important is introduces something called say db which is basically uh it's an effort inspired
by a ton of work done over the past year and like a bunch of other teams around cosmos um but
the in short it ensures that say can squeeze out the maximum performance possible from parallelized
evm and addresses the state block problem that you start to see with these high performance chains
so over time if you let's say you know you have like these 400 millisecond blocks
there's a lot of data you have like a higher rate of information coming through you need to store
your state is getting larger and larger at the faster rate so you need to be quite clever about
how you store all of that data and how you use databases like it's just a different consideration
versus um like like say he's already done i think 2x more blocks than ethereum has
in its entire life so you can start to see that being like a long-term thing that you need to
solve for so yeah all of these components are either fully battle tested or rigorously tested
in production so you know say it's been live since august 2023 so that's uh really important
and um it's also the main thing is we sat down and said hey what what does ethereum
like developers need right now like what do they actually need uh we're not uh we're going to put
that first and then the tech is sort of driven pretty much purely by what developers actually
need and we think that the solution is um uh going to be a good going to be a good one and
we think a lot of people are going to have a lot of fun with it too so excited to see what people
build thank you thank you and uh if we talk about the mainnet for syvi too uh what's the road map and
how can like other teams get involved uh and who might be interested in taking part of this journey
yeah so uh right now it looks like we'll be on for a testnet uh within the next month
so that's uh looking pretty tasty i mean i'd say q1 is the uh is the uh under promise of a deliver
answer um the mainnet will be subject to governance and audits but sub scheduled for the first half of
2024 but despite all of that we're still seeing a bunch of really really interesting grassroots
activity bottom-up development on say right now um so from nfts to mean coins to tooling being
built out uh on on chain i think a lot of people talk about sort of bridging the chasm or bridging
the gap between launching and actually finding like a community and finding people who want to
build out stuff on your chain who are just moving fast and and uh and building out really
interesting things so that that's already starting to happen on say uh right now so
um that's really taken a lot of the team by surprise in the last couple of months
so um it's uh it's amazing to see and i think you'll see j tweet out his his shock quite regularly
about like how surprised he is to see things getting built out on the chain already so um
yeah the um the whole savee2 piece is code complete already and live on an eternal devnet
and uh all the internal benchmark testing has been done using a distributed set of nodes and
yeah seeing all these numbers if published i think there's a few posts you can look back
on the say channel on the say uh twitter account and you can see the history there
but uh yeah like i said definitely check out the say ecosystem right now which is live
and uh shout outs to a bunch of uh activity centers like astroport palette the guys at
wheatbump colony sayon sayon's the guys at dragon swap have already built out some pretty
cool they just launched like a dashboard yesterday uh which has got like all the tools and information
you might need to get started on say as well so yeah definitely check all of those things out
oh yeah i'm looking right now into your ecosystem like which
devs are already building and officially mentioned uh mentioned on your website
very interesting things are there um that's very cool to see that developers are already like
that hyped up to build on your ecosystem and they're fast yeah they're very very fast
yes very dedicated so right and and so a big part of what say foundation's job is now is to
help unblock those those teams that are just operating so you know that if you're a team who
is thinking about building on say if you're stuck if you're not sure where how to proceed
you want a connection you know um you want to find a way to meet another team and or understand
what tools already exist then yeah just dm the main account here or get in touch with any of the
affiliated accounts that you can find on the on the say twitter thank you thank you uh right now
we come to the part if there may be some questions from the community so guys please raise your hand
if you have a question then i can unmute you and you can ask a question let's see if there
are some questions from the community i'm going to bring up mateo i think mateo has uh got some
mateo are you can we hear you can you speak please
mateo you can mute yourself i think we assigned you a speaker
elon musk he needs to spend a little longer to the spaces i think for sure for sure yeah
okay um i will remove mateo as a speaker and i will add him again maybe it work
i saw another hand raised
who was the other person please raise your hand in the meantime i think there is a say
ama quiz that is live on the bybit blog is that right yes no on the bybit uh official telegram
there is a quiz there i would like all to go to the bybit official telegram chat
and there is a quiz about the say network and about the topics that we just discussed i think
ushman ushman can we hear you uh yes uh how are you sir yes amazing thank you thank you for being
here i think you have a question for shy my question is uh any airdrop is here at the time of testnet
oh no oh no it's the question i've been dreading this um so no official plans for airdrops okay
thank you okay thank you ushman have a great day good question good question
yeah i can assume that uh with all the airdrop hive that we have seen like in the uh last
couple of weeks uh that that isn't a common question that you guys are getting it happens
yeah i think uh two one zero two two zero three nine i don't know if once also to ask something
you can unmute yourself yeah i want to ask it's probably going to be very very basic when just
trying to understand so if i'm if i'm correct both say and injective are basically built from scratch
to be fortified do you see do you see yourself as a competition with them or do you see
different than them and then is there anything that you do better than them or vice versa
sure um yeah i know a little bit about injective um yeah another another cool team uh building
around cosmos for a while uh i think we we i don't necessarily see injective as a direct competitor
um we're focusing more on having the paralyzed evm sort of launch in the coming months
and uh doubling down on that um and really seeing that as a huge opportunity um i don't
think injective is taking the same route they seem to be looking at a real world asset module
thing um so it seems like there's a fork in the road going different ways i'm not sure
if they're parallelized uh that would be an interesting question for the injective team
i'm not sure thank you very much for your question uh community any other questions i'm
going to the chat maybe uh there are some more questions let me see i see no raised hands yet
okay i think we've come to an end uh psi any uh closing uh remarks before i'm going to end
sure yeah check out this this quiz on the bipit telegram i think it looks like it's only open for
one hour so uh go get it done to stand a chance to win some some tokies i think from bipit um
and yeah otherwise yeah stay tuned to follow the say account uh join our discord if you want to
get really involved the say community the best way to do it is to just to hop into the discord
and say hi uh anybody can join um at any time uh all open and uh pretty pretty straightforward
to get in so uh do go ahead and do that otherwise um yeah um happy friday everybody and have an
excellent weekend thanks for listening thank you very much for uh for attending this uh twitter
space i think we all learned a lot about the upcoming updates in v2 thank you for the simple
explanation with the vending machine um everybody uh please go to the bipit official telegram
we keep in touch everybody have a great weekend and see you at the next one thank you