Well, howdy folks, what's happening?
Hello, hello, hello. How you doing, bro? What's happening, Polaris? Can you hear me?
all good yeah I can hate you now I'm in clear. So what's happening with this uh what have they done man? What's the what? I can't
There's some confusion happening here. So you know when I go on to the ontology spaces.
The ontology space is different. It hasn't been started yet and the harbinger dow space is like
is confusing, it's got confused. - Oh, is this supposed to be hosted on the regular ontology page or something? - No, because we do it on Harbinger all the time every Monday.
I don't understand what the book is over at the ontology page or something. Is there a space over there? I'm trying to figure that out. Did somebody start it? Did Humpty start that one?
I'm just trying to figure it out. I'll be right here until you tell me to go somewhere else. One second, bro.
I am patient. This space is supposed to start from the Arbinger dow cant.
So what we do is, once the space is finished and what you do is you edit the space, the first five minutes of bubbling along, just edit that. Oh yeah, I can do that as soon as I turn it off, right?
Yeah, and then it'll ask you where do you want this place to start from and then all this stuff which we were talking about you edit that and then start from the point fabulous. We actually start the discussion. You got it man. Right, so let's see what Humpty's saying now. Where is that link? Okay, sending the link copy.
I wonder how this can be mixed up. I mean I can't be I mean I've been quite clear about this to be quite honest. Yeah Monday Harbinger down. So I have no idea how they managed it but I sent the length to
Um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um, um,#
Stay good from there. Sounds good to me.
see why I do not understand is that if the
If we're arranging the Washington, why was this next link arranged? I don't understand.
Right, so Humpty's here. We all just want to do such a great job. I'm going to pull Humpty up right now or I'm going to pull on toology up to speak.
- So, it's just asking him. - Hey, what's up, empty?
GMGM trying to connect my headphones to this thing one moment. I'm actually having trouble with that stuff today too. Never easy.
My headphones stopped working so I just came out to my car. This is the best audio in Mike that I have.
Yeah, it's going to confuse the guests as well now, you know that because there's too many, there's two different links to this whole spaces.
Was there another one that's been posted? Oh crap. Well, maybe they'll go to the ontology page and they'll see that the ontology page is here. It'll just link them directly here anyway. You know what I mean? If they click on the PFP.
Yeah, I know bro, but it's very bad in terms of organization Yeah, because we've like practically like you know been three weeks we've been trying to show this Monday thing up How did the managed to get the ontology account to go on the spaces never
mind. Okay, here we go. Easy. Okay, cool. Well, let's just let's just roll with it. Obviously, it's not ideal, but you know, it's
It is a recorded space so we can always kind of sink what we talk about here again later from the main anthology account as a tweet. So no biggie. How's everybody doing?
Great. How about you all? I'm doing really good. I'm gonna send this link to Eric because I think who else Eric was a join and do mom right? Do mom might be he was a maybe okay
Yeah. Yeah, why don't you all warm up the stage and yeah, we'll go from there.
Cool. Cool. Cool. Nice. PFP Humpty. Is that a have you like a altered it with AI or something? Is that you actually that it was all made by an AI? I did not alter an image. The AI made that for me.
No way. I think red because I could tell. I had a feeling I had some sort of artificial intelligence to it because it was like the whole contrast was a bit too, too out of this world. Not saying that, you know, the original skin is not good. But what I'm saying is that you could tell that
to blockchain. I was devling an AI and this is after I had been working in VR and AR. I was developing in that space. So I've always been interested in emergent technology and so I have my eye on the metaverse, right, VR AR stuff.
I have my eye on crypto for the work that I've been doing here for a couple of years, but I was keeping my eye out on AI stuff in that transition and haven't really been paying too close attention to it, but recently there's been a lot more conversations about it and talking about how it's taking
And I think that's a huge leap. Certainly from where I last kind of was looking at it. And so, yeah, if you go to my profile, you'll see four pictures. They sent like a hundred different photos, all stylized very differently. But those four, I think, were the closest to me,
or really interesting because I did give it like I think four photos to use in modeling and then this is what it produced in return. So pretty rad. That's incredible. Really just incredible, especially the one that's your profile picture. It looks like it could just be a professional photo. Right.
but even better than a photo. - Yeah, yeah, I thought, which is funny, 'cause I didn't upload any photos of me just my face. Like I just uploaded like four, by the way, just to give you a heads up to, I didn't upload a photo of my face.
Like front like that like all the photos were just side photos the profile photos So it the the AI actually calculate what I would look like if I were looking straight at the camera Which is what for me is a little more interesting because it is
I was giving, I started to do calculations from, you know, what my profile looks like and what the width of my nose would be, you know, really kind of like the thickness of my lips and the separation of my eyes, which I think in some of them, that's why they looked a little
or apart, I didn't upload those. But you know, you got to give it credit. Like I didn't tell it what my eyes looked like in terms of distance between, you know, by giving it into its model one that was looking at me straight on. So yeah, I was very impressed.
Wow, I would love to try that out myself if you want to share the link or if you already have shared the link. It's a Vanna. Vanna is the name of the company.
Hey, hello free freeze just in my pressure. No, they say though you are the product best thing life just free you're the products and that's why I also Didn't do anything without glass
glasses or a hat. So little, yeah, just so that it's not perfectly who I am in terms of this public domain, which my images are now in.
Well, just to add something extra on top of that, Dalai is basically on, you can now have access to the API now.
can connect on to that. And I think these new companies or like you know service providers are emerging utilizing the power of Dalai and then they are rendering it according to
certain settings and then the catch is that you can't monetize on those images basically and you can only use them for personal use if you start making like NFTs I have to start selling them then that would be against their terms and conditions. A lot of like apps have popped up here
especially in the last four to five months, which are helping. But it's a good news for all of us because as tech enthusiasts, AI can create such a seismic shift in the world as we know it, that things would completely change.
the way we think things are. I mean, they've already started doing automated cars now in China. I was watching a video today. All you do is run by AI and everything is basically run with barcodes, scanners, biometrics and you enter
the car and it's run by artificial intelligence. And I think last time, I'm not sure if you was there, we discussed about the Ethereum trying to cure cancer because they're using nodes which are being shared on all these different hospitals and those hospitals are sharing live information about diseases,
in real time, which are being shared by the network in real time without getting any sort of corrupt information being fed into it. And they're trying to cure cancer in real time. But and then on the other side, we've got like movies, music, like, you know, all you do is feed the AI some sort of
a basic, you know, a beat, a track, or rhythm, or some sort of like a genre and then you know, nudging the right direction next thing, you know, you've got a full, like, you know, a full opera house on the scene. So amazing stuff. And
I think we need that power because moving forward, the way technology is moving forward, design efficiency is pretty low in terms of human productivity. We've discussed this before, Japan is probably the best country in the world which is like on top of design efficiency.
and even then they're only producing 16% out of the raw material, they're producing 16% design efficiency. So there's still a long way to go considering that we have to reduce our carbon emissions, make the best like roots possible for freight logistics.
have less monotonous jobs and more human like, less robotic jobs and more human like elements. It's a huge exciting stuff. But that's slightly going to take us out of topic and today's conversation is based
around the art of staking. So like all different arts like you know the art of painting, the art of fighting, the art of interactions, the art of converse, the same you know there is an art in staking as well. So we are going
to go around different elements of it. And we will also dive into the ontology ecosystem. My name is Polaris. I'm one of the Harbingers. I also run, I'm also one of the node validators on the ontology network.
We would go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and go and#
Sounds good to me, man. I made a little bit of an agenda up on Discord, but I can't pull Discord up, so if you'd like to just poke me whenever we come up to something, then we need a topic shifter, whatever, just hit me up whoever has Discord in front of
them. But Polaris Humpty, do you want to wait for Eric to show up to get into any particular, I guess he can contribute on the ontology side as the, what is he head of development at onto app, right? Where do you guys want to start?
What do you think number one is? The concept of you get started now that's that's I don't think we have to wait. He can he can kind of add context. Once easier. Well, I hope you want to kick it off. You want to give like an overview of what the concept of staking is or where you want to go.
Yeah, sure. So for me personally, I think staking is quite interesting. It's really kind of the ability for anyone to participate in some sort of delegated governance with a protocol or organization. Interestingly, I think, you know, for now in kind of the
the stage that we are in Web 3 development. A lot of people may be more familiar with delegation when it comes to their vote, to individuals, to govern organizations, Dow's, right? But this is a concept that has been kind of operational for quite
some time and you know for particularly on layer one blockchains where a blockchain has a governance token and that governance token then is the way that a individual can contribute to the security of the network by delegating that to an individual
who will secure the network if you will through the transaction operations as an ontology would be the consensus nodes. For ontology, where there's an added way of participating in the
ecosystem are the candidate nodes, right? So these nodes aren't necessarily participating in that kind of consensus of the network, but they are participating by keeping a copy of that ledger, right, and also contributing in other ways.
I think for you, Plarras and No Diggity, who is behind the Harbinger account here, you both decided that you would basically create a note and delegate to yourself the ONT that you had to be able to operate in this manner.
your candidate notar of consensus, although you can campaign to a community to support you. And what happens is the rewards that that blockchain would provide to that organization then get distributed in some percentage to everyone who is delegation
So for instance, if you were to delegate your O and T to a polaris, then there's some sort of distribution that he has set up in terms of the amount that gets sent back out to the community, same for no dignity and same for any consensus node.
The value in supporting the much smaller candidate nodes versus consensus nodes in my opinion is that you a could get a lot more in return from those rewards. You know, in terms of the delegated rewards that you get back from the blockchain, those get destroyed.
I think in a much more, you know, with a lot more value return for the smaller nodes, than probably on the larger nodes because they just have so many delegations going to them. But probably for me, more important than the rewards you would get, certainly those are important, but it's that you
you could support someone like Polaris or someone like No Diggity who you know personally, you know, from your interactions in the Discord or on Telegram or on Twitter Spaces and your support for their node is also a way of supporting them to continue operating in the way that they do
on the network. So it goes beyond just like technical operations. It is a very human element to that. I don't know if I answered it precisely, but hopefully gave a nice picture to not just the way that it works, but also to the importance and the value to delegating and staking, really.
I think that was a pretty awesome overview of the ontology ecosystems specifically and for anybody out there who's wondering what staking is instead of what there are two main consensus mechanisms within the blockchain world. And I think most of them at this point are proof of stake or proof of something that is
similar to proof of stake where very few are proof of work. And proof of work means that you run a computer or someone runs a computer, has a computer that's constantly solving mathematical problems to eventually get the problem correct, ideally anyway, and be provided a reward for being the random, well, what is otherwise
randomly chosen. Basically, you finished a race first, so you get to validate the following or the previous round or create the block, and you get a reward for doing so. Bitcoin is probably one of the most famous Ethereum used to be, they used Proof of Work Ethereum, now move to Proof of Stake, where people run consensus nodes, they still run
computers, but they're not randomly solving mathematical equations. They're randomly chosen by some mechanism to be the one to progress the round to the next round or create the block. And the point of proof of work is to have anyone with a GPU or an ASIC or whatever you need, whatever sort of specialized
So, basically, if you want to have a computer equipment you need, basically to have anyone do it anywhere all the time and share in a pool of rewards or create the rewards for themselves, basically making it a case of Bitcoin, many thousands or hundreds of thousands or whatever individual computers, such that if you wanted to attack the system, you would need to invest
heft to do it that it wouldn't even be worth doing it. The payout wouldn't be worth the risk of being considered a malicious actor. So the beauty of proof of stake is that you don't have these thousands or hundreds of thousands of GPUs or ASICs consuming tons and tons of power in order to finish or
race that's arbitrary in order to do something that's important. Now we just have in the case of ontology there are 15 main computers running the consensus network and one of them is chosen at random by what I think what's called variable Byzantine fault tolerance which is a system you know we can get into in some other deeper dive but to have 15
consensus nodes, you have to be in the top 15 of holders. So the point of the candidate nodes beneath, like me and Polaris are running, are that we get to compile ONT and build up a little corner of the network for ourselves with the hopes of potentially being able to be a consensus network sometime in the future. I mean, it's in the name
It's a candidate node. So at some point there were only seven consensus nodes within the ontology network and then they ended up being 15 due to network expansion and more interest presumably in a desire for greater security potentially because the more nodes the better. So I'm assuming that based on the past, when there were seven consensus nodes,
There are now 15. There's probably going to be some other multiple. What was the last one? Times 2 plus 1, right? So maybe there's 31 consensus nodes somewhere in our future. And my goal would be to be one of those. And that's to gather so you have to be in the top 31 holders if there's to be 31 consensus nodes.
That can be your own stake or someone else's stake or whatever, but at that point you have to actually run a computer, but you get a larger portion of the gas that is paid out. Now in the case of ontology, you are paid in the gas token, but where does the gas token come from? Like where do the proof of the stake rewards come from? They have to come from someone. Typically it's quite the same
is proof of work, it's gas fees and emissions. So every time someone uses the network they pay ontology gas to do so, in the case of ontology that is. So those fees go into a pot and that pot is distributed amongst all of the consensus and candidate nodes, half go to consensus and half go to candidate if I remember correctly.
The fun part about ontology is that while the network is getting up and running, and it's not like the number one thing that everyone's using right now, so the gas fees really aren't compiling into much money. The ONG emissions schedule is slated to continue through if my calculations are correct, at least 2037. So even if for some reason network traffic just
stopped altogether, there would still be ONG payouts to the tune of some percentage depending on who's left staking for another 15 to 18 years. So I think the total, if the network is running hot, if it's running as maximum clip of one block every one second, which is another thing we can get into is the network speed, which is another
incredible feature of this blockchain. If it ran hot for the next 15 years, it would stop emitting OMG into circulation in 2037. But we've got a long, long time before that happens. And ideally after that, the network will be so busy that the OMG fees will be enough to support all of the
I think this is a really beautiful model because this means that the governance token that we're staking is almost fully in circulation. I think at the moment it's like 88 or 89% in circulation, according to its max supply that is of ONT, but ONG is only like 38 or 40% in supply. So that means
that you have an investment you've made that is sort of inflation proof at the moment, but you're getting paid in something that is not at all inflation proof. So you can hang on to it, hoping that it gets more valuable, or you can kick it to the curb and reinvest it into ontology, thereby flooding the market with gas, making gas less expensive, and encouraging further use of the network.
I clearly have done a lot of reading on this subject because I can't. I don't even know how long I've been talking for already. I could do it for another half an hour, but I'm going to take a break there. What do you think the next most relevant thing to hit is Polaris Humpty or anybody in the crowd if you have any questions? Where are y'all at?
I did that last one on purpose just so you know players because you both were muted and you muted
I'm going to quickly say about the proof of work and proof of stake thing that like and then I'll I mean Humpty can jump on so right now we've got proof
of stake which is ontology and ethereum and btc which is proof of work and as you know that like you know proof of work has got its like you know pros and its cons and and then so does proof of stake but moving forward as we have noticed like since the theorium is actually like you know moved on to proof of
of stake, the amount of ethereum in circulation has become deflationary because of the mechanism which is in place. On the other side we've got mining farms all over the world which are mining
And now what's happened is that the amount of BTC which is going to they're going to mine using the miners become more it's become like So it's going to cost them more to mine BTC than than the value of BTC. So as a result that you know
the hash rate and all of that stuff is going to have an impact. And then once that happens, then it's going to be impossible for the miners to stay in profit. And then once they go on a - tangent, then they start doing a great sell-off. Once the great sell-off happens, then
Then the hash rate becomes easier and it's easier to do those computational to like mine the BTC. But then as that drops, then the minus jump in again because it becomes more profitable. But this whole saga creates
It creates a lot of energy-intensive things. It consumes a lot of energy. Of course, it's less than consuming the amount of energy which banks consume all over the world. It's a fraction to that.
Unless you're like, you know, on the bowl in terms of market movements and how markets are reacting, it can become a huge amount of investment process where like, you know, you have to buy the A6, you have to make sure that the A6 are on top of their game, you know, there's not other A6 which I'm
powerful and then as soon as a new CPU GPU comes out which is more powerful the previous ones are rendered useless so like you know then the hardware you got to get rid of it so that's that economy right and it's not an easy economy especially for someone who's just want
wants to get on board and come on validator. So for someone who's new to the ecosystem, it doesn't want to really invest a lot of money in buying hardware and stuff. Then proof of stake is a good way of going about it. And one last thing is I about
5-6 years ago, there was this coin called Britcoin and it was a proof of a work coin. I thought it was a bad move but I thought I'd just get some Britcoins and then just try to figure out how the whole consensus mechanism works.
I found out that it took all of my, I downloaded this software and the next thing, all of the memory and basically my computer was like a MacBook Pro at that point. It was a one year old MacBook Pro and it was rendered useless after me running
that node. And then also it had a huge impact that running the node had a huge impact in the compute computational elements of the system. So I've been running the node for ontology using proof of stake for three years, two years now almost. And before
that I was just like you know adding on to the consensus nodes because the the staking mechanism was slightly different couple of years back and it's brilliant. I mean you know no headache it doesn't require no memory you're validating and you know there's a
And if you do like hit a certain threshold, then you can always become a candidate node. And for the candidate node, you would need specialist hardware, which is great because I think the oncology network provides that specialist hardware. So you don't have to mess around with your computers. But someone can confirm that because it's been a while since I checked that site.
Yeah, I wanted to say two things. One, Eric's on the stage, so if there's no digger, you wanted to invite Eric up. That'd be great. The other, sorry.
I have invited him. I just has not accepted yet. Okay, great. The other would be, you know, you going back to what no digger was talking about. There were two things that he mentioned. One was that visiting fall tolerance. I think that and I think that's a really good one to talk about though.
It's quite geeky, right? I don't think that that's within the grasp of many people, but just to mention how that algorithm promotes the decentralization of the way that these validators get selected in terms of their reward cycle. So would be, or sorry,
the consensus cycle, excuse me. So it's really interesting to kind of see the innovation as well that, you know, anthology has done to kind of differentiate and promote decentralization in the ecosystem. The other, I think you were talking about, you know, that I get a proof of state
which is generally compared, and I think this might have been Polaris, comparing it to traditional proof of work networks. I think that we see three ways of, you know, this, the way that validation works, right? There's the proof of work, there's a proof of stake, and then the data get a proof of stake. And personally, I'm a fan of data get a
of a stake, especially coming from this background of community engagement. I think to be able to give the community an opportunity to engage with the process of governance and security of the network, I think that's an incredibly valuable piece. Is it perfect? I don't think so. Is there room for more and
If we've learned anything from the recent kind of growth of the Dow space, is that the community really is interested in participating and taking ownership over various areas of the way that the project, the organization,
The blockchain operates and there's been a lot of innovation recently in that space of delegation and governance. So we'd love to see how that could continue to evolve with delegated proof of stake as it relates to blockings as well. But I'll leave it there for now and maybe Eric wanted to jump up here and say something as well.
Yes, Eric. How you doing, bro?
Good, good, how are you guys?
All good. It's been about seven, eight months since our paths crossed.
Yeah, yeah, what's the what's the current prompt? Staking we're just talking about the staking ecosystem everything and anything
thing to do with ontology staking and staking in general. Why do we need to do that? What's, you know, the history and the past, the present and the future?
Yeah, well, I mean, I think that staking is a very integral part of these ecosystems, right? Most of these tokens, the reason they exist is as like, you know, with regards to proof of stake, is to kind of
put a bet or to help secure validators via like economics, right? Like if you're putting 100 tokens down, then you're kind of putting your trust in a specific validator or it's kind of like a vote. Yeah, it's pretty much like a vote.
right? Like you're voting with your capital on a specific validator and therefore vouching for its reputation. So I think there's a lot of parallels there and this whole idea of voting with your capital. Although now I think there's more interesting models
the whole system itself could be under a delegated proof of stake model. So I am liking to see the more sophisticated levels of staking infrastructure that's been coming out as opposed to back in the old days where it's just like, you have this pick a validator, put it in, and that's it.
Nice. So what type of changes do you think could possibly come or like, you know, have you envisioned any of these changes?
Well, I think more changes with reputation weighted voting as opposed to just straight capital weighted voting because I think we're starting to see as a space that there's other ways to contribute as opposed to just with, you know, how
how many tokens you hold. But I don't think that it should be removed entirely because I do believe that if you hold ultimately if you hold the token, that should be the largest factor because that is you are putting your own capital into the system and you're putting it at the risk. So I think
that should always stay but you should be able to boost your stake or boost the rewards or boost your voting power based off of what actions you've taken beyond that. People have already started to do that with the time you've staked so like the long
longer you stake the more of a boost you get. But I think there could be other ways of doing that as well. Like, you know, if you're actively participating in the community, whether socially or whether through the governance or whether as a developer, there's a lot of new ways to contribute now.
Awesome. Thank you very much, Eric. And that makes complete sense. Especially moving forward like you know, the more concise the ecosystem is and the more options we give to the participants in the ecosystem, the better it is really. And also it's tested
identifying that the team and the developers behind the scenes, they're constantly looking towards innovative ways to expand this taking ecosystem. Brilliant, yes. Some of these points I didn't actually think of and makes complete sense.
If anybody has any questions from the crowd, please do not hesitate to raise your hand. We'll bring you up and you can ask them. You've got a couple of, I guess a lot of people from every angle here who have a lot of things to say about it. So speak now for every whole piece. I wanted to talk a little bit about the experience of being a staker and what it's like.
in the ontology ecosystem. Polaris, did you have any particular insights on this or Eric, I suppose? Do you think that it is easier from more angles to stake comfortably and safely with ontology than with other ecosystems? I've found this to be true for myself.
But I've also found it to be volatile in a lot of ways, just like any other system where you stake with something and it goes dormant or kicks you and then you're just stuck for the whole consensus round just like trying to find another one and you know the variable reward is right. Anybody have any personal experiences they'd like to share with that? Before I go on a tangent again.
I'll just point to something that I think has been mentioned to me as being quite unique to Entology and thus generates value to people's kind of staking experience. And that is the two token economy.
of ontology. The fact that the governance token is a governance token or a gas token is a gas token, right? I think for a lot of blockchain, you'll notice that they have only one token. And that single token, you know, a lot of times the value of one token is driven both by speculation
But the actual demand on the token for the gas to be able to transact on that network with Entology, you know, it has this two token system and because of that because of the way that they work where if you want to
You can participate in this stake in economy. You can run your own node and then get this gas stream to your wallet, which you can use to be able to transact on the
network. You don't have to run your own node. You can delegate your tokens and earn O and G in return, which is something that I personally do. I support other projects like Polaris' node and no digodies node. For me personally, I like supporting the candidate nodes and people that I know
and see that are contributing into the ecosystem. And then I get my ONG that I can use to transact on the network as well. Which is very unique in terms of both the value proposition for each token, but also for the way that you can
interact on the blockchain and be able to almost for free get the tokens that you need to be able to execute transactions on the network without having to go continuously by these tokens or make the decision whether you should hold and speculate or use the tokens as
they should be, they were originally intended, right, which is let's use this token to do cool, fun stuff on the network. First of all, let me just hold on to it and speculate on it or hold on to it and delegate to it, but then being unable to determine how much
of that I should keep for transacting and how much of that I should keep for delegating. So it's quite interesting and unique and I think also was mentioned to me that because of that it drives an interesting return, APY on your rewards because of the change in
value for each of these tokens, your APY at the end of the year is much more than it would be if you're delegating with one token. So I just wanted to point to those things because I know that those are things that people have mentioned to me as being very different and very interesting to them.
me personally what I've realized is that I tend to like you know be liquid all the time so unless my liquid is like locked in in a node right if I've got it like free free flowing liquid it's not going to stay in the wallet it's gonna do something so
Usually what happens is I end up like you know rinsing my account whether it be a theory and BTC it's just like you know whatever you gotta do you just send everything and then work from that that's my style right and I always used to have problems with like you know not having enough gas especially with the theory I'm back in the days early days right I really
realize that I would do the movement and then I would realize there's no gas and you're like and you've used all the money you've got like you know liquid money and now you stuck and then you have to borrow like 0.05 ETH from your mate and they're like what's wrong with you Polaris like so yeah
I mean having a double token, right? It kind of like ensures that you know you don't run out of gas and even if you are like someone like me and kind of like rinses their account every time you interact with it, right? Then there's always going to be some sort of something there and also the
cost of running transactions is very minuscule, it's like 0.05 OMG, which is really next to nothing really, but at the same time, it is something which helps support the network and that fee is distributed to all the nodes running there.
Apart from that, I think that it's a nice system in terms of normally if you wanted to take stuff, you would have to go down different routes, unless you're using Ledger Live. I think that's the option in Ledger Live. You can use your digital assets and take them.
It's a bit of a mission you have to go down different smart contracts and you have to initiate those things. Blah blah blah. Whereas with the ontologies, taking mechanism is pretty much straightforward really. You download the old wallet, you connect your ledger, you get another wallet, there's a
There's a very easy tutorial and their manuals are there like very basic ones and we're always there to help people if they want to set up their nodes and Basically all you do is you set that up initiate give 500 OMG as a fee for the smart contracts and 10,000 minimum amount to start the node and the next thing you know
you're basically a node validator and requires minimum amount of hardware, minimum amount of headache, minimum amount of intellectual prowess, right? It's just like everything is basic and you're on board then and then you start generating stuff and then you know, then not only that, the network facilitates you as someone like Eric
mentioned, the network also facilitates you in terms of being recognized. For example, the Harbinger's, the team will constantly try to uplift the node providers trying to get them to be a bit more active, or the node providers themselves have got
Our stakeholders of course they are like and they want to contribute as well to try to generate enough enthusiasm for their notes. As a result of all of this, what it creates is that it creates a very nice and nurturing atmosphere where everyone is trying to nurture each other.
stakeholders and shareholders, there is an element of people trying to look after their own, but at the same time there is an element of nurturing and helping each other, which I believe is a very nice precedent to set up in this vicious, cutthroat industry sometimes which we see. And I know it's a very
shop where to use cutthroat but I've specifically used it specifically because of the last three weeks of fiasco which we are having. So yeah, I think it's nice and anyone who hasn't experienced that you should definitely join us on Telegram or Discord and ask us more questions and try to figure out what we're trying to
achieve here. And in terms of note providing and staking, and I think it's like personally, of course, you know, it's not financial advice and everyone needs to do their own research. Your principle could be at risk, you know, market conditions. There's so many different variables at play. But while keeping all of these things, it can't
I think we've got a good game here and I think it facilitates not only the network but it also facilitates the person who's trying to integrate their node or their actions or their capacity of work or any sort of value which they want to bring onto the ecosystem.
They get rewarded in one way or another like you know sometimes literally sometimes in a in an indirect way like you know their recognition gets they become more recognized as a result people feel that they're more trustworthy and then they stay gone to their notes ETC so that's my side and node I just wanted to reiterate something you said
before passing it on. You talked about the people that comprise the anthology community and being there and being helpful to help people learn and participate in this ecosystem. I can't think of
two better examples of that than both of you appear on stage. Like Polaris and No Digity who's running the Harbinger account and this space. These are people who showed up to, I think, the community calls that I was hosting and that I host still on Discord. Already new.
enough of the what was going on in mythology may have already been running their node, but they just took it upon themselves to help with kind of taking that narrative and in doing so in ways that are what they may be more accessible to people. I know no diggerty, you know, with your
a series that you're doing on Discord, I think is a good example. And then Polaro is just continuously, you know, helping and supporting with the development of the community calls. Like, that's what I mean. Like, I think that's what I should say. I think that's what you mean, but that's personally what affects me and just inspires me is the people that show up, the people
that find value and then generate value and return for other people that come through the ecosystem. So yeah, certainly if someone's listening to this slide right now, if someone's listening to this later through a recording, if you are interested just in learning more and you know, if you want to start staking, if you're not staking already,
if you wanted to learn how to run your own node. The people on the stage here right now, Pleras, node diggery, Eric, myself, Humpty, happy to help, happy to point you to the people that certainly know more than I do because that's exactly what it is. It's a very welcoming group of people who are just geeking out about that stuff and happy to help them x-person.
Dude, well put, the reason that I kept showing up is, well I guess the reason I started buying ontology to begin with, I was staking in and separate wallet that was returning not even what the APR should have been, but it was still way more than any other staking APR and I think they just inched it right above the other next one I think it was like 16th
or 17% at the time. So I was initially attracted by the staking rewards, but the more I read into ontology, the more I liked it. And that's usually the case, like a lot of my best friends or people I've just sort of liked at first, they were fine, but then they grow on you like a fungus, right? And a lot of the people I like immediately, I've learned more about them and I don't
really like them when I dig deeper. On top of the exact opposite, every single thing I read, I can't believe how much they thought about this years before I ever even knew it existed or probably before it was launched. It wasn't built while it was in the air. The airplane was built before it took off, even though it's still maintained while it's flying at the moment.
So I think that's a really unique feature of ontology. The more you dig into it, the more you realize what is happening and how outlandishly well thought it is. And I think one of the main points I wanted to make about ontology gas in the tuto consistent being really beneficial here is that, well I guess it refers back to the blockchain speed.
know how other blockchains work, but I don't think they work in exactly this manner. Ontology makes a block every one to 30 seconds whenever it is needed to do so. So if there's a transaction available or a few or a lot, thousands even, it'll make a block every second. But if there are no transactions at all, it'll fabricate an empty block every
every 30 seconds to ensure that ontology gas is still put into circulation. I assume anyway, or that's probably just to keep the blockchain moving. But I think it's really interesting that as gas would be more consumed by the blockchain moving faster and more people using it, more gas is released into the market.
it when the blockchain speeds up. So it sort of ensures that ontology gas, it doesn't ensure anything I suppose, but it makes available the possibility that ontology gas can maintain an even and low price. Basically the blockchain can be inexpensive to use even when it's at its maximum clip for at least
the next 15 years during emissions. As soon as I read that, I was like, "Sign me up. I'm going to bulldoze every penny I've ever made and some I haven't even made yet into this node because I want to be a part of this and not just to control the supply of ONG, but to partake in emitting it and just being a part of the system and hopefully eventually being a consensus node."
So I think the dual token system and the variable speed at which the blockchain runs are a really cool feature that are sort of under talked about. Yeah, what up, Polaris? I was just going to say that, you know, the thing with the layer to a blockchain's
working with EVM. I'm just going to add something extra on top of what you were saying, basically super lights what you're saying, but it's the same thing. So, you know, we was talking about four or five weeks ago, like six weeks ago, when Reddit NFTs got launched on polygon, right? And then anyone who wanted to get those
NFTs, right? You realize that the polygon network was clogged. So that's pretty fast the network is and it's a layer two solution and it's working with EVM. Now the reason why I mentioned this is that this is a perfect scenario for ontology when it comes to like trustless DID tags, for example, or
or all the stuff which ontology specializes in which is like ONTID, using different variables to come up with on-chain reputation analysis. Can you imagine the future, like hypothetical Reddit NFT was just one mass adoption event?
right in terms of no means. Can you imagine the future where like you know our internet get hacked and the only way to access our digital credentials is through some sort of a decentralized identity right or and then suddenly the network becomes extremely busy compared to where it is at the moment.
That would be the moment when things would start becoming because right now, I think the concept of blockchains, their specialties and how they move forward is not being extrapolated correctly like the way they should because there's a huge ambiguity between education and the doable actionable things in between.
So having a clearer vision of what the network is trying to achieve and what they have achieved so far and what the vision is in the future, it gives you a great understanding and then being a node operator in that environment, we can see how it can facilitate in the future.
But yeah, the future sounds really bright because we can see these things being utilized. Like, you know, as I mentioned at the start of this conversation, China is already using autonomous vehicles now for taxis, right? And you do need decentralized and identity to like log into them. China is also like, you know, I have got like 270 different
trade marks registered to the BDMI technology which I've mentioned previously as well which is biometric technology utilizing and then that biometrics gets infused with your on-chain reputation and then you move forward. So pretty exciting stuff going forward and all of that can be utilized by a powerful
EF-EVM compatible network and that network can facilitate towards this and the future is all of these different networks working intraoperably between each other and facilitating a better future. I mean that's that's how I can see it. Of course it's NFAD by OR.
You had only said anything we're saying just look take it is something to go read, you know, I suppose. Something I really dig otherwise, I mean, I guess we're going to wrap this up pretty soon, but something I think is really important to think about is not just that the ontology network can run it 4,000 plus transaction for a second right now because that's sort of like no one
needs that much at the moment, but in order to scale to mass adoption, we need that and we need way more. So looking into like ZK roll up and optimist to grow up solutions for that is something that's already occurring and it's already it already exists. So we're able to scale at this moment past where I think most blockchains can
We can kick higher and faster. On top of that, if you are looking to stake right now, I think there's two things that you should think about when you do that. Just as a little wrap up before we go through anybody else who has final remarks because we're heading up to the hour right now. What is the pass through APA?
What would you be getting if you ran a node? It's somewhere between 26 and 29% in the last few weeks. So if you see someone who's hawking like 37 or 400% APR, you can know full well that they're losing money as a node doing that. And odds are pretty good that if they're losing money, they're not doing it as a charity, they're doing it so that they can make
more in the future. And that more in the future that they're going to make is going to come from you when they lower their returns and you either don't notice or you do and you have to skip out and you lose a full consensus round. You know what I mean? So I say look for things that are somewhere within the 24 to 30% APR right now. And the best way to do this
I mean, you can find them by percentage, but look out for the checkmarks. There's four checkmarks you can have next to a node and they range in color from black, blue, light, blue, and yellow. And it indicates whether or not someone has been there a long time. It's called long term. Someone is a harbinger, which means it's like me or Polaris or I believe Humpty or Erica, they may have bigger
positions as well as being Harbinger's I don't really know technically what they are but you can also have a stable featuring ratio which is one of the two blues and the other is our ship players what's the fourth the Harbinger we've got the long film we've got the yellow and the new ratio
and then we've got the blue. So one is like, oh yeah, verified credentials. So they've got it right. So you can get in touch with them. Yep. So basically we know who you are. Roughly anyway, or at least how to get in touch with you. You've been doing this a long time. You've been doing the same thing for a long time. And or you have some other vested interest in the company.
as in you work for them or you like them a lot or something like that. So looking for those for checkmarks any one of them or all four of them is probably a super good idea. I don't think either of my nodes have all four and most certainly one of them barely has any of them because I'm kind of new still which means I am a risk inherently because I've not proven by reputation.
That I'm gonna keep doing it right so if somebody has all four of those odds are pretty good They're not going anywhere and that is a sure fire bet players might have all three in fact I mean all four of other yep, so good on him go jump on that node Outside of that any closing remarks anybody has any questions from the crowd We are out of time, but we can probably stretch it a couple minutes anybody
So I ran a note for a little bit. I wanted to talk about the hosting of it. One of the things that stopped me from running notes for a long time was that you'd have to set up your computer and you'd have to connect it and have to have it sitting somewhere and you have to make sure it stays on all the time. And if you live in a place where there's a lot of power outages,
out right and then then then you could get slashed. So I started getting really into notes, specifically like hosting your own like I have services or digital ocean or a roco and so that's something that I have experienced with so if anybody has any questions there or wants to talk after I can definitely help with that. I think that
that that's, that's one of the best things for me is like being able to deploy it online on a virtual machine. Like that was a very cool experience and I learned a lot about how block changes works and how it runs just from that experience of even just getting it up.
It's a really good point if you don't want to burn out your own computer and you want to be able to run a node, Amazon will let you burn out their computers. Is what they do for a living amongst many other things. Hope to you. Definitely, you know, reach out.
I think there's a lot of people here that are willing to help. I definitely think Eric is such a really smart person. And when I first joined ontology as a contributor, I really was asking a lot of questions from him.
He has a deep technical understanding just of blockchain in general. So if anybody, you know, certainly that imitation is polaris and no diggy wants to learn more. He's definitely a very fun person to chat with.
definitely going to take up on that offer. And I think that pretty much wraps up today's conversation. Thank you very much every single person who has joined us. Thank you for our special guest, Eric. And I hope Dumaern's feeling well, he wasn't feeling well, he was also supposed to join us.
Thank you, no dignity. Humpty for giving me the opportunity to join you guys first, large nerds, threshold build, dig, VJ and Hong Lin. Thank you very much for joining us.
I know why you laugh. It's his name. I can't do anything about it. But yeah, take care guys. Have a fantastic day. He's a good friend of mine though. No, he's a good friend. Take care and I'll stay with you guys.
Thanks for joining us everybody. I would have had trouble pronouncing it too. I hope you have the best days of your lives every day for the rest of your lives. And we'll see you next Monday, same time, same place, maybe same topic. Who knows? Catch you all in the future. Thanks so much.