Innovative Layer 1 Blockchain Brings the Best of Both Bitcoin and Ethereum

Transcript

[Music] Rich you are developing C Core contributor um because da is in the name uh maybe we could start with some of like kind of like the organizational setup like you guys are in L1 and you're developing the ecosystem So eventually going to pull contributors and contributions from you know several places around um but maybe we can start with why you chose to be a decent I from from the beginning um and what the ecosystem strategy is to acquire contributors acquire projects and and ultimately integrate uh with with several applications so there there's a lot to

unpack there so the Cal cor is about 40 45 members all around the globe and a lot of those people have come out of our Discord Community or through Twitter so a bunch of it's already you know very Community Driven since the very beginning and that's also the the approach to from the ecosystem it's finding the best Builders from around the globe the best infrastructure providers Etc and long term that's one approach to building like a really healthy and long-term uh yeah so oh down there okay and and that's one of the ways to you know build a really healthy long-term ecosystem there lots of community involvement some of the things that's different about core is was actually totally self-funded there was a large initial airdrop to the

users of the network with the initial holders so it's been a very different approach since day one awesome so let's talk about a little bit about the um more of the technical side like what what is going to differentiate you guys um from some of the other networks out there like what what is unique about cordal relative to other other yeah so so core has a very unique consensus mechanism called Satoshi plus and it's actually a blend of delegated proof of stake and proof of work and the proof of work component comes directly from Bitcoin in this trustless relaying process and currently one out of every two Bitcoin blocks is already being

delegated to core so that strength of the Bitcoin consensus is directly benefiting core users today and the the miners also benefit from from core rewards which allows them to continue to invest in additional Opex when it comes to to uh to securing Bitcoin a stronger Bitcoin leads to a stronger core and when it comes to why core is different well there is the strong belief that most people in crypto start with Bitcoin and that Bitcoin like a strong healthy Bitcoin is good for the space and in general there's so much utility that needs to come to bitcoin and core because it's evm compatible can support a lot of those new and novel use cases that folks are trying to build into Bitcoin but maybe don't want to integrate into the the chain itself awesome

so so that that answers one of my next questions I I was going to ask anyway which is like why you chose not to develop with uh some of these more modular approaches like um we've seen op stack we've seen arbitrum orbit you know all all of these like infrastructure Stacks um it sounds like you guys have chosen to go with a unique form of infrastructure for the greater security uh by by leveraging both the Bitcoin Network as well as the evm uh to combine both those mechanisms um and that's why you chose not to go with some of the pre-existing stacks and infrastructure uh like kind of like L up in a box type of solutions yeah that that's a very stud

observation and yeah I think when no I just keep laughing because I keep bringing it up and you're like no BR it down even like just like yeah and these new Ms are so much better this is way way more comfortable too um so say why core chose to be an Elon that was totally Standalone is when the project was coming to life there was this this this understanding that most of the major ecosystems that had come to play what's call at the 2017 cycle had sacrificed decentralization and without decentralization you really have to ask yourself what good can crypto do without being you the ability to stand on its own fight Dynamic currencies unstable governments like all of those sorts of problem so decentralization really is

Paramount and there wasn't a way to do that without tying into the most decentralized Network which is Bitcoin and the governance of Bitcoin you had like there's lot opinions on that but it is the healthiest form of governance and that was something that was very important to launch a new chain was making sure that the chain itself stay true to that ethos yeah I'm glad you you talked about governance because that's where I'd like to go next like I I think uh it's important from both um the the B2B infrastructure side so that you can develop kind of like a a thriving ecosystem of applications ultimately those applications are participants in governance as well and then you also have the users and the token holders that that participate in goverance from a more

individual uh you know maybe they're delegates but maybe they're also just pure individuals with a a hefty token stack and they participate that way um so what is the governance um picture uh like are you guys incentivizing governance at all what what are kind of like some of the learnings that you've taken into account over you know we've had Dows live for maybe three years now um even even if you want to go back to 2017 with maker Dow maybe we you know we've had several year years of Dow governance now what are some of the learnings that you've taken into account from those Dows so I'd say uh there's interesting history when it comes to Dow governance over the years and we've seen a lot of

what doesn't work but I think the jury's out on what does work and this very interesting like you mentioned maker doing really cool stuff with the endgame op Stacks do some cool stuff wios you and doing some cool stuff and that's little more theoretical and I'd say that right now we're in a token voting system which is pretty common however the network itself is looking for ways to bolster that governance and we've got some pretty interesting blog post that'll come out soon but we Believers that maybe a multi-party system is where this should should head there's a lot of like real world use case that we've seen and what what does work in governance out there needs to be brought back into crypto and this is actually uh interesting use of this piece is to actually help invite other governance uh researchers that might want to get

involved with helping core figure out you know what a mult party system might look like yeah one of the uh one of the most um significant governance contributors that I've seen just in the ecosystem has been universities um it's been really cool to see like uh pen USC Northeastern um those universities contribute to some of the top blockchain projects and and manage those treasuries um when they still are like on the younger side I think that's that's a different uh it's a difference between kind of like at least the government in the US right now that is exceedingly Elder if you will to uh kind of the governance that we have in in crypto which is is particularly unique

for for like this industry uh I also helped start the the university group at at blockchain group at my University so th those kind of protocol politicians hold a special place in my heart and uh I hope to see them also uh contribute to the the governance over on core um so so for for those kinds of contributors whether they're at a university or they're contributing to some other protocols or Dows in the space what's the best way for them to kind of like break through get involved start learning and then ultimately kind of start making contributions to the cow so anyone that wants to get involved in cordal usually will come in through Discord or Twitter telegram one of like the main channels to start adding value

by asking questions or submitting proposals or interesting topics that should be investigated and it's really kind of this trust building process that happens not just in core but in most of these ecosystems where people are essentially doing some amount of proof of work if you will by participating in the in some aspect of uh of the community and then from there those people will tend to get more more involved and get more community support and may even you know get a full-time role with with the Dow itself that the bottoms up process is something that is very unique to to crypto but also very healthy because the people that get involved are very invested in making whatever you know public good they're working on about better place and I think when you talk about universities and that sort of thing diversity of thought is really important and

diversity of opinion and it's great to see such conflicting opinions in crypto which is so different than kind of what you see in some of the real world but you know as a as an organization we invite people for from all over to to get involved awesome yeah the uh the kind of Switching gears a little bit but one of the kind as we close out wrap up here like I am curious how like what what the almost like the business development but more like the ecosystem growth strategy I I think to put it that way like what what is the strategy to tap into the users and the liquidity on existing chains um that's kind of like part one of of my question and then part two would be like how what is cordal going to do to try to uh onboard some of the

normies some of the no coiners that aren't currently on any of these other existing chains but are are maybe crypto curious or also just know there there's part one there's going after the users and the liquidity existing and then and then kind of breaking into New Frontiers so the I'll start with the question around the the New Frontiers and this is actually something that core has prized from the very beginning and like cor is crypto Maxis if you will not Bitcoin or ethereum and cor Maxis it's the good that crypto can do in the world that it's uniquely suited for and when core tried to build its initial Audits and its Community actually partnered with an app called this tooshi app that helped build this community through various game mechanics and eventually

the the airdrop and those were net new folks to crypto that were the initial folders of the network and what that really solved was cashless onboarding which is one of the biggest challenges for the billions of people out there that you know can't just go buy crypto today on Easy Exchange Etc and that's something that we're going to really double triple down on over the you know next year if there's additional Partnerships is how do we find these onboarding mechanisms to get to you know let's call it tens or hundreds of millions of fotes and those aren't just the existing people in ecosystems today it's the people that might have heard about crypto but don't have a way to easily participate that's really important because we have to get to real scale in what two terms versus just what three terms to be a successful industry

and that's a big Focus for us is really this cashless oning um on the other side it's like how do you attract maybe the more crypto native the DG all those sorts of groups which are very very different archetypes and a lot of that as of now is trying to find homegrown projects that want to make core their home that want to deliver a lot of value to our ecosystem our community and that even comes through with some of the stuff we do with prance which is instead of you know just paying huge amounts to get people to to launch On Core it's finding out how do you incentivize people to add value and that value could be actual transactions be tvl other things that help the community grow and Thrive and that's really The Guiding Light of of our grance program there's a lot as well as a lot of the Outreach

that that is done and there's also again going after your blue chips ET in kind of a more classic Business Development process but I'd say it's a really holistic strategy because we want core to be the home for all users not just you know the existing web uh you know web 3 audience awesome I I think we got what we needed I I think that was good Clen