Summary
In this discussion, Johnny from CoinEx, opens the Twitter Spaces to celebrate CoinEx’s 6th Anniversary. The focus was on a roundtable discussion about Public Chains, featuring representatives from Injective (Cooper), Ton (Vivi), and Neo (John), along with CoinEx's Research Team (Cheng). The participants briefly introduced themselves, highlighting their projects and upcoming developments.
Cooper from Injective emphasized their focus on being an app chain, providing interoperability and scalability for financial applications. John from Neo discussed the importance of addressing challenges such as high TPS, gas fees, and privacy to achieve mass adoption. Vivi from Ton introduced Ton as a decentralized first-layer public chain designed for billions of users, emphasizing the importance of overcoming obstacles for mass adoption.
Cheng, representing CoinEx Research, added insights about Ethereum rollouts and the role of shared sequencers in improving performance and lowering fees. He mentioned the potential benefits of shared sequencers in enhancing communication infrastructure for projects like Injective.
Throughout the discussion, the participants shared their perspectives on innovative technologies and concepts in the public blockchain field, providing a glimpse into the ongoing developments and challenges within the industry.
In the mid-segment, Johnny discussed the practical problems that need to be solved to enable large-scale commercial applications in the blockchain ecosystem. Cooper from Injective emphasized the importance of user adoption, scalability, and interoperability, highlighting Injective's efforts in supporting different bridge solutions and cross-chain native assets.
John from Neo pointed out three critical aspects: the technology's capability, compliance with regulations, and user experience. He stressed the need for secure and stable development, compliance with global regulations, and improving the user experience to attract and retain users.
Vivi from Ton focused on regulatory challenges, particularly in terms of AML and KYC regulations and conflicts with data protection laws. She also mentioned issues related to securities regulations, highlighting the complexities surrounding ICOs and the need for compliance.
Cheng added that user experience is crucial for web3 applications to encourage mainstream adoption. He pointed out different approaches taken by projects like Neo, Injective, and Ton in addressing user experience and regulatory compliance. Cheng also emphasized the importance of regulatory compliance in determining the success of a project.
Overall, the participants agreed that addressing these practical problems, including user adoption, regulatory compliance, and technology scalability, is essential for the successful development and adoption of blockchain applications on a large scale.
In the closing part of the discussion, Johnny posed a question to the participants about the challenges introduced by the coexistence of multiple public blockchains and how it affects users and developers. Cooper from Injective emphasized their focus on catering to a specific audience, particularly finance-based applications, to address the complexity. John from Neo mentioned the challenge for developers building multi-chain projects and the importance of lowering barriers. Vivi from Ton talked about Ton's EVM compatibility and the advantage of screening out developers who genuinely want to deploy. Cheng mentioned the progress in developing SDKs and tools to improve the developer experience and sees the complexity as a temporary issue.
The conversation then transitions to specific questions for each project:
1. For Neo, John discussed the strategic focus on the Neo public chain ecosystem, emphasizing a developer-friendly environment, grants, investments, and ecosystem support.
2. For Ton, Vivi talked about the Telegram mini app, highlighting its similarities and differences compared to WeChat mini-programs, focusing on integration with the Telegram wallet and Ton space.
3. For Injective, Cooper discussed the collaboration with the AI project "Time Works" and how it leverages Injective's liquidity and financial modules to facilitate the swap and exchange of AI-related tokens.
The session concluded with Johnny expressing gratitude for the participants' insights and encouraging the audience to follow the updates from Neo, Ton, and Injective. He also mentioned CoinEx's six-year anniversary celebrations and upcoming campaigns.
Transcript (Verbatim)
Johnny: Hello, guys! It's good to see you all here. Okay, let's start. Hi, everyone. I'm Johnny. Welcome to the CoinEx Twitter Spaces, and thank you for joining our industry roundtable today. Before we start, let me share with you once again that this December marks our 6th anniversary. We are so happy to celebrate with our community and have launched a series of campaigns to give back and contribute to our community, including online campaigns and community activities all over the world. Please stay tuned for our upcoming updates as we have a lot of campaigns prepared for you.
We also hosted two roundtables earlier this week and we have invited leading projects from the POW and GameFi sectors. Today, we are going to talk about the most pressing topic: Public Chain. We are honored to have Injective, Ton, and Neo with us, as well as our CoinEx Research Team. Would you mind giving us a brief introduction about yourself?
Cheng: Sure, sure. Hello, Johnny. Hello, everyone. My name is Cheng. I’m from the CoinEx Research team. It's my pleasure to be here tonight to chat with Injective, Ton, and Neo - they’re all great projects here. So yeah, just happy to be in space tonight.
Johnny: Thank you. Thank you, Cheng. What about you guys? Let's start with Injective first. Hi Cooper.
Cooper: Yeah! Hey, guys. Well first off, thanks so much to the team at CoinEx for hosting this, really looking forward to it. I'm Cooper, I work on the Injective Labs business team. I'm excited to kinda go through a bit more about Injective and share our thoughts on the space. Uhm but you know, as just mentioned, I'm super excited to be up here with a ton of great projects. So uhm looking forward to it.
Johnny: Thank you, Cooper. What about Vivi? Hello Vivi, can you hear me? Ah, I think Vivi is muted, let’s start with John.
John: Hi, everyone. This is John from the Neo team, Neo is a public blockchain. I think that if you joined the previous recording you will know us. We are going to release our new EVM next week, next month, next year. So, we are looking for more opportunities to bring some new things to everybody. Thank you.
Johnny: Thank you, John. Yeah. You know, and time flies, you know, yeah, next month is gonna be next year as well. Yeah. Yeah. Are you here Vivi?
Johnny: Okay, it seems like Vivi couldn't hear us. But that's okay. Maybe we can start without a question first, and later on, Vivi can add to the conversation as well. Okay, so let's start our conversation. We just have to begin with this question. We collected it from our community, and it's one of the most frequently asked questions.
Well, first of all, right now, we have a lot of technology when it comes to public chains, and everyone has a lot of innovative concepts. Which new technologies and concepts in the public blockchain view are worth following? What kind of disruptive innovations could they bring about?
Cooper: Yeah, totally Well, I can kick things off here. You know, the public blockchain kind of space generally is always evolving. It's always improving and addressing a lot of the new challenges that exist to onboard the next billion users to crypto, but really EVM-based chains to Cosmos boost IBC. We're also seeing kind of a revolution in app chains. And Injective is an app chain specifically focused on enabling real use cases to occur and being optimized for those things. So app chains provide interoperability, scalability, and a dedicated environment for developers and users to build efficient, innovative financial applications.
And that's really what you can work with on Injective natively. So as the first sector-specific blockchain for finance-based applications, Injective uniquely provides powerful financial infrastructure, and primitives that these applications can leverage and take advantage of, including a fully decentralized limit order book, an oracle module, binary options module, and so much more. I can kind of get into a lot more in terms of what we're doing with EVM environments. But I think it's really important to just key in on the aspect of Injective being an app chain and that really is a key differentiator for us.
Johnny: Thank you for sharing Cooper. Yep. Okay, it seems Vivi is back but apparently, she hasn't turned on her speaker. So we will go on. What about you, John, what’s your opinion on that?
John: I think there are many things about the public blockchain, and as most people know, like, we are talking about layer two we are talking about the decay solution. And even like the interoperability like I just mentioned, like there are many new things like is happening in the last like four or five years in the public blockchain. So I think that the main purpose is because like too many assets too many people will come into this industry. And so they are looking for the very, the high TPS and the churn, the gas fee is kind of the problem.
So for all of this new technology, there is mainly to focus on solving the problem is, if whether the blockchain actually can be suitable for mass adoption, and also solve the problem and how it actually can protect the privacy of the user. I don't think it's very like a problem that cannot be solved. So it's here today like we can see many, many of the new public blockchains it's happening have their own the user coming to. So I believe in the future. Like, if we're talking about new technology, and which technology actually can be some of the partners for the investment for the user actually can more focus on it that this solution is really can be happening to to to improve the efficiency and ability. Thank you.
Johnny: Nice insight. Thank you, John. Vivi, Are you here? Are you back?
Vivi: Yeah, yeah, I'm coming on.
Johnny: Okay, nice Vivi. Before you start. Maybe you can introduce yourself first. Yeah.
Vivi: Okay. Okay. Hello, everyone. Hello, Johnny, and glad to meet you all. And thanks, CoinEx for the invitation. I’m Vivi, from Ton Foundation. Currently, I'm mainly responsible for Greater China in the town's DeFi category. I look forward to discussing and sharing with you guys today. And Ton. This is a public blockchain that has many unique features. Also, the full name of Ton is the Open Network is a decentralized first layer public chain designed for billions of users and was funded by Telegram.
We all know that is a cross-platform instant messaging software founded by Russian entreprenuer brothers. And the origins of Ton blockchain can be traced back to 2017 when the Telegram founder began to envision a blockchain platform to meet the growing needs of Telegram users. Ton’s initial goal is to provide Telegram users with a high-performance, secure, and scalable blockchain infrastructure to enable decentralized communication, data storage, and payment, and I think, in recent years, most blockchains have primarily focused on the technical aspects, which have a very high barriers to entry. And I believe a considerable number of users still don't know how to use noncustodial wallets. And I think the biggest challenge, which is mass adoption.
As a result, the majority of Web3 users are still meaning institutions and developers, making it very hard to achieve mass adoption. The current challenges faced by the blockchain industry include technology, environment, privacy and regulation, etc, which limit a large-scale application and right adoption. And I want to say that if we want to overcome this obstacle course, a platform with a large user base is needed to act as a pioneer in attracting more web2 users and increasing industry groups. And at this point, I think maybe Telegram’s wallet. Telegram is the first to introduce an app wallet based on cryptocurrency which is also a big solution for mass adoption.
Johnny: Thank you for sharing Vivi. Anything you would like to add on as well Cheng?
Cheng: Yeah, sure. Like Injective, Ton, Neo, they all bring great innovations to the space and here I want to share something about Ethereum back to the rollouts. So I hear we think really one of the innovative technology in the space can be shared as a sequencer for roll-ups, for example like Arbitrum or Optimisim, the sequencer for these rolls ups is to organize and solve hundreds of 1000s of transactions and then compress them into one and then submit them to layer one for confirmation. So this is the job of sequences. So it can be said the sequencer is it's kind of very important for them to achieve high performance and lower fees. But like currently the sequencers are centralised. So most of them like are run by the project team. So here's the risk there is about a single point of failure. And here's the point that shared sequencers comes in – shared sequencer is decentralized. And it lets multiple roll-ups share a single decentralized network of sequencers and it is simple and permissionless to join. So roll-ups powered by a shared sequencer can get fast block confirmation and censorship resilience. So and also current roll-up doesn't have a very efficient communication infrastructure just like IBC does for the Cosmos app chain like Injective. So shared sequencer might bring IBC kind of experience to them. Since transactions from roll-ups are bundled and processed together in a shared sequencer, so they can quickly communicate and change state together in a single block. So I think this also this mechanism is very powerful. It will like further increase the speed of a transaction for roll ups, and the composability. And yeah, this is basically how a shared sequencer works. And they kind of come in, in the in the coming year. And we're gonna see how it really works. And in CoinEx, we always like making this kind of effort to, like, try to educate our users to understand these cutting-edge technologies. And we recently also wrote an article to talk about this shared sequencer stuff, and some projects that using it, so make sure you follow CoinEx Insight, which is the channel where we publish this kind of article, and to get some updates on this blockchain innovation. That's sort of my idea here. So thanks.
Johnny: Thank you. Thank you, Cheng. Okay. Thank you. Thank you guys for sharing. And let's move on to the next question. Like when we talk about the public chain, are you so huge, the whole thing is so complicated, people are involved in a lot of roles and even people in here. So the question is, how to balance the relationship and incentive among the users, developers, and investors in other roles in public blockchain ecosystem building, considering they all have their perspectives, they all have their reason, reasoning, rationale, and incentive behind everything.
Cooper: Yeah, totally, I can kick this one off. So users, developers, and investors, right, they all play a very important role in a sustainable kind of blockchain ecosystem that can flourish and grow. And Injective, specifically in Injective labs, terms of you know, who I speak on behalf of, takes a strategic approach to ensuring balance to all these things. So Injective is very unique in that it is a permission chain, and it's governed by the community. And everyone in the community can submit a governance proposal straight to our hub at hub.injective.network. And this allows for an incredibly transparent governance procedure, which empowers community members to be a part of and really contribute to the platform's decision-making success. In addition, we work on things such as our kind of ecosystem venture consortium, with over $150 million pledged to kind of accelerate the Injective ecosystem supported by many of our close investors and backers.
And initiatives like this really give developers the opportunity to grow and build anything they may need. So to incentivize both institutions and also retail users, you know, in terms of the DeFi side of things, and more kind of the decentralized exchange side of things. Injective has launched something called the Open Liquidity Programme. And the open liquidity program is similar to that of a kind of, you know, I guess Arbitrum steps, I guess, is the one thing randomly that comes to mind. But generally speaking, it, you know, is a program that allows for anyone to come in, provide liquidity on-chain, and earn rewards and incentive apps. This is just one of the ongoing programs that Injective Labs is kind of overseeing. But I think it's important, because, you know, as we discussed kind of the topic of incentives for users and developers, that is one of the most important things that's near and dear to the Injective labs team. So those are kind of, you know, my thoughts.
Johnny: Thank you. Thank you, Cooper. What about John, what's your view on that? Like? What's your take on all these relationships?
John: Yeah, so. So when we're talking about how to incentivize the user, developer, and investor, we need to think about who is bringing the basic value for a public blockchain. So of course, no matter for the user or the investor. If they spend time or money in the blockchain ecosystem it is because they have some products that can provide value to them. So I believe that the developer of course is the most important part of public blockchain. Only if like this, this developer, they do have enough motivation to build some of the new things are some of the interesting things interesting product to everyone. It definitely will attract lots of the user coming of course. We can use the token economy helping, the developer, having the product to attract the user. But still, when the user comes to this, this chain, and coming to this ecosystem, we need to find a way to, keep them using the chain. So the same thing like if the developer has developed a good product and lots of users using it, of course, the investors we are coming to investor in this project. So in my mind, having a secure and stable developer community is very important for a public blockchain. At the same time, use the incentive to help the developer build and use the incentive to help a good product to attract the user, and the investor, to help the developer team to grow either way, or be more like a house to lay a foundation for the blockchain technology development.
Johnny: Nice share. What’s your opinion on this, Vivi?
Vivi: Yeah, and I think balancing the relationship and incentives among various stakeholders in the public chain system really is a complex task. And I want to share some ideas. And I think we need to design token economics and governance mechanisms in a way that aligns incentives among all stakeholders. For example, users should be incentivized to use the platform, and developers should be incentivized to build on it. And investors should be incentivized to fund it first. So this could involve mechanisms like token rewards staking and voting rights, also, and the next thing is, to ensure that the distribution of rewards like tokens, or profits, or equity, is fair and reflects the contribution contributions of each stakeholder. This could involve mechanisms like developer grants, user rewards, and investor dividends. And the next thing is, we need to collaborate in decision-making, like, a governance model that allows all stakeholders to participate in decision-making processes, this could involve voting on major decisions or proposals, or having representatives from each group governing council. Also, I think, we should respect privacy and security. Ensure that the platform respects the privacy and security of its users. This includes implementing strong security measures and being transparent about how user data is used. And also, the next thing is pretty normal. But I think it's very important as transparency and open communication. We need to maintain open channels of communication with all stakeholders regularly regularly update some products, process future planners, and any challenges or chant changes. And I think that's all.
Johnny: Thank you, Vivi.
Johnny: What are your thoughts, Cheng?
Cheng: Yep. Yeah, sure. Sure, sure. Actually, I haven't worked on any public chain project before. So I can only like speak from a user's perspective about the relationship path. And I think like for investors, or let's say VCs, they, they don't just give money like it's common. They have other roles as well. Like some one of them is I think it's marketing bro. And, like, specifically a lot of time when I try to, like spot a new project, I will check some VCs articles. So a bit, and I believe lots of people doing the same way. So in this aspect, VC sometimes drives the initial traction and probably the first use of group for projects. And here, I think a good example would be Canto. For people who are not familiar with Canto, like, pretty simple can always just be a public chain that uses Cosmos technology, and they have some kind of unique concept about public funding for blockchain infrastructure. So in January, this year, a VC covariance fund, wrote an article about Canto and linked it to an experiment, I came to the public good revolution of California in 90 days. So very soon, a pop up tons of attention for users and developers to cancel people like even on Twitter, you can see lots of people call it like Canto-fornia. So then after that, of course, the price pumped, the yield on the chain pump, as well as the more user comes in, more developers come in and then it is unavoidable, call it a bubble, and then after the hyper passing, and then cycle seems like ended, and lots of speculators, they go up the chain to spot next opportunity. But it's not the end of the game, loyal users and developers, they gotta stay and continue to, like build for the next cycle. So here's basically my some sort of view on this relationship part. And I, I think, Neo got points that they are saying that, like, they want developer to be first. And like, from also remember, Cooper says that they, they think they have like something like open liquidity program, and some developer fund. I just wondering, can you share some ideas about like, which parts should be called first? Since? Because if I have a correct understanding, I think Neo since like, feels the developer should be called first, like, what's your thoughts? Cooper? Like? Yeah.
Cooper: I mean, in our opinion, right, the developer always comes first. Because the developer, you know, creating an incredible experience then brings on an incredible user experience. And at the end of the day, to onboard the next million billion users to crypto, it's going to be user experiences being just as good if not better than the web2 experiences that are offering. So, you know, incentivizing developers is without a doubt, kind of our biggest, you know, and most important aspect, I would also say in terms of the open liquidity program, and otherwise, even that we're, you know, have some decentralized exchange infrastructure. It's also just as important to incentivize those liquidity providers, and institutional market makers, the big kind of trading teams and firms of the world, because, you know, trading and the decentralized exchange aspects specific to limit order books, is kind of, you know, not to get too technical here, limited to the kind of chicken and egg problem. And what I mean by that is that users will not come unless there's sufficient liquidity. So you have to kind of incentivize that activity on the chain. So I guess, you know, to answer your question directly, developers always come first. And also kind of, you know, incentivizing the right things such as liquidity providers, in our case, we believe is the right kind of strategy moving forward, because good liquidity will then get good usage and users.
Cheng: Yeah, fair enough. Thank you. Thank you.
Johnny: Nice one. Nice one. Okay, so yeah, like, from the last question we talked about, like, we need open conversation, we need to open liquidity program, we also need to focus on the developer fund. So we have a lot of problems and we have a lot of relationship kind of stuff as well. So let's move on from there, what practical problems need to be solved in order to enable a large scale of commercial applications.
Johnny: Let's start with John first.
John: Sorry, could you repeat the question?
Johnny: Yeah, okay. So what kind of technical problems are needed, they remain to be solved to enable large-scale commercial applications.
John: Okay. Yeah. I think we have been talking about large-scale commercial applications and mass adoption for forever long time in this industry. And I think the three point is very important, the first is chain, the technology itself in this capability, and they can do this kind of project actually can build it, and it can run in very stable. And the second thing is, I think it's compliance. So when so because like, especially for the large-scale commercial application, you definitely have some connection with the country, the real world. So how are we actually onboarding the user the asset, coming to coming to it very important, so how to compliance, how to, can make this the application to running the house, they in all over the world, in the different regulation area is also very important. And thirdly, I think it's the user experience, the product itself. Before I think even like two years ago, when we actually do using some of the DeFi protocol, it is really difficult to use, like if we are not actually in this industry for a very long time. Like, when you really see using the DeFi project, even today, it still is, is a very, very big barrier for normal users. So building, something like for the countries, the web 2 the user, they really can use it using this kind of the product is very important. That's why we spend a lot of time talking about the wallet kind of things. The purpose is to onboard the Web 2 user making them no this no any, and the feeling like no bearing, so compliance and easy to use. And at its capability. I think that is most biggest barrier currently for the large-scale commercial application built on the blockchain. Thank you.
Johnny: Nice one, John.
Johnny: What about you, Cooper? And Vivi? What's your thought on it? Like, what's the problem they have to solve?
Cooper: Totally I mean, from my perspective, and there are a lot of problems. And I think that they, you know, a bunch of them were just highlighted. So I agree broadly with a lot of what's being said, but I definitely think it's important to highlight user adoption. user adoption is an ongoing topic for discussion, right. And to achieve mass adoption applications need to be accessible across multiple networks and reach as many users as possible. That's why like, these terms, scalability and interoperability are so crucial, right. And that's why an Injective we worked so hard to have as much support for different bridge solutions and cross-chain Native Assets. As well as having interoperability with support of things like Wormhole and Axel we have now recently announced layer zero. So kind of Injectives, core modules build to kind of the capability for developers to think out of the box kind of, you know, way labeled modules from the exchange, module, etc. And kind of, you know, iterate on those things. And, you know, on top of that, we're able to provide users with as many tools and we work every day to kind of provide more tools, but as many tools as possible for them to create applications that can lend to real-world use cases and to real users. So I definitely think you know, for this type of practical problem, it's user adoption and finding different ways to, you know, we think exchanges make sense, we think there's a lot of opportunity and in the exchange of funds and the exchange of wealth and the exchange, you know, globally right, there's all different types of issues that exists from different developing nations all the way to the best nations in the world. And we're looking to you know, kind of support different types of solutions that are trying to fix these different types of problems. So that's kind of our thought.
Johnny: Nice one Cooper.
Vivi: Yeah, I also want to share my idea about saying mass adoption is our problem. In contrast, I think maybe mass adoption is our biggest advantage and I think maybe the regulation is problems of or different or different public UTM. And I think maybe So first one is AML and KYC regulations because we all know that the decentralized nature of blockchain technology, make it hard to pass for other regulatory agencies are working hard to formulate and employment, anti-money laundering, and KYC regulations to prevent the use is data protection and probably because of transparency, and in mutability of blockchain technology may conflict with so protection of personal data and privacy rights. For example, Europe's general data protection regulation requires individuals to have the right to have their personal data deleted, but this conflicts with the immutability of blockchain. And also, I think, something related to the securities regulations, because we all know that some tokens issued through ICO or IO may be regarded as securities and therefore need to comply with corresponding securities regulations. For example, the US SEC, has investigated and punished some ICO products. Yeah, that's my sharing sense.
Johnny: Thank you, Vivi. Anything you'd like to add to, Cheng?
Cheng: Yeah, sure. Actually, Vivi, Cooper and John already hit the points that I want to say. But I also want to add on some user experience, like, I think the Web3 application, should be as user-friendly as the central counterparty to encourage mainstream adoption, like, simple key management, easier transaction process, and better onboarding procedures. And we see lots of projects already working on this, like, for example, Neo and Injective, they seem like work on a more like, like, how to say blockchain like, as a crypto native way, I think it probably is the word they bring like a abstract, abstract contract, they bring like, better UX, whatever it is, but and Ton is doing in, in another like, in another direction. They, as we know, they are built on top of Paragon which is already a widely used web2 application. So it gives them an advantage for mass adoption at the beginning. So with us, I think we don't know which one which direction is better, and time is going to tell us the result. And I also want to, like highlight here that regulatory compliance is it's about if you can do the business, it's not about like, if you can do the business better, like we see a lot of projects that fail not because of the business logic, but the local regulator interruptions, like we see Libra we see Multichain etcetera. So like in CoinEx we see this as a very important factor when we spot potential listing projects and for projects already listed in our exchange, if, let's say a project is involved in some, like legal issues, we will add some risk notice about this on the project trading page or project information page to let our users know about the risk. That’s all I want to share here.
Johnny: Thank you, Cheng. Yeah, time, five minutes. We're wrapping up the last question before we move on to the future project question. Okay, so there you go. The last question is, how do you feel the complexity of tools to users and developers by the coexistence of multiple public chains? Let’s start with you, Cooper.
Cooper: Yeah, totally. So I mean, my kind of answer is pretty straightforward. And we touched on before, you know, there are so many public blockchains. And you make a great point, noting that Injective that, you know, really differentiates itself and thinks that the differences that were sector-specific, and we optimized every aspect of our blockchain, for finance-based applications. So from instant finality to 25,000 transactions per second, to frequent batch auctions, as opposed to kind of, you know, off-chain kind of order matching, the list goes on, we've created a chain that's specific for finance, right. And there's several other use cases within that, that, you know, we can continue to support. But at the end of the day, right, our bread and butter are different things, you know, within the finance, umbrella, from exchanges, to lending to options, etc. So, our thought is that while there is so much complexity, introduced to us with all these different blockchains, that we really tackle them by catering to a specific audience, and that audience is really finance-based applications.
Johnny: Thank you, Cooper. And what about John?
John: Yeah, I think like, it really brings up the problem for the developer if they wanted to build a multichain project. But that's also why like, for so many of the blockchains they become like an EVM compatible like us. I think in the end that like most of the chains, they have to find a way to to lower the barrier for most of the developers. So, I believe like, but it's not a means that it is only for the Ethereum or UBM can exist in this industry. But for now, I think like the first problem, the problem is not only for the technology, the bigger issue for the mighty part of our chain is how actually to combine the liquidity in different chains and how to do the interoperability more efficiently. If we make it simple like the public or public blockchain as a word is quite similar because every part of the blockchain is a different country, they do have different regulations, and they do have different characteristics for the local people. So, so, if global trading actually can run very smoothly, like this world will become more or this industry will become great. So I think that with more than modern public chains appearing in this industry it's a good thing no matter what their purpose, but it means it's highly different the groove and the power coming to this industry and having more people to know this industry. So the things that we needed to solve is like when people come into this industry, how we can make them too, to leaving and to, to to, to living better and happy. Thank you.
Johnny: Okay, John, thank you. Thank you for sharing John. What about you Vivi?
Vivi: Yeah, I want to say that. The first thing is our Ton is now EVM compatible and the program language used is also tagged. It seems to have maybe the highest threshold for developers. For those EVM-compatible public chains. Many projects can be deployed easily. However, after deployment, they do not bring more business improvements to the public chain. And now your compatibility actually helps us screen out developers who really want to deploy, and I think this is actually an advantage for Ton. And also, I think, in the earliest stages for to implement the origin or business logic can be retained and uploaded to the chain in the form of asset mapping. So it's deployed in the form of more programs. I think the development cost is pretty low. Yeah, I want to say thanks.
Johnny: Thank you, Vivi. Good insights as well. We'd like to wrap it up, Cheng.
Cheng: Yeah, sure. Yeah, we still have lots of complexity here in the space right now. But I think we can see like, lots of things are getting better, like teams in public chain are making an effort on this from like, different way and even trend this to be the like, competitive advantage. Like we can see more and more SDKs. And tools are developed, developed to help coders to have better experience like, like, for example, with C Chain, starting to offer web-to-language integration that allows developers to code with JavaScript or C++, like this, or make this chain a more attractive or traditional coder. And we also see some projects that are doing some integration of off of Web 3 language as well. So no matter you know, solidity you know, you know, coursework you can, you all can go together to build on the top of the chain. So this all reduces the costs of development as well. And for users, we can see the same is happening like more and more multi-chain wallets, like, like our via wallet, develop, and this to make fast supports or new chains and fast integration with new protocols. So we believe in like foreseeable future, like multi-chain wallet will be the main product to be the entry point of Web3 application. So in some ways, I think this complexity will be just a temporary issue, in my opinion, and will not last too long, given the progress we see now. That's my thoughts. Thanks.
Johnny: Thank you, Cheng. And thank you with one. Yeah, we had a good one. And yeah, before we wrap up, yeah, we also collected our community questions, and they are specifically for the project. So, let's start with Neo first. Okay. So there you go. The question, what are the future strategic focus on the Neo public chain ecosystem? Like, are there any incentive plans for users or developers? What's your take on this? John?
John: Of course like, yeah, support for Neo like, we have long been focused on the providing developer friendly environments. So we have many ways to fund the developer. And here today, we already found more than 300 projects globally to build something to build a product in the Neo. So for the developer who is more focused on the infrastructure, they can apply for the grants from us and we are not looking for like any other financial return from them. We are looking for a deck to build some things and some infrastructure for us. And for the project that they are looking for, to build a commercial application. We also can do like the funding or the investment to them. And I believe, like man money, funding is important, but it's not the only thing that can make a project successful. So for the Neo itself, like, we accepted the founding of the team except the provided the grants to them, we also do have the Eco Boost, like, we provide our user, I mean, we connect our user to them, we are using the new brand to, to helping them. And we also have a very, very strong relationship that is statutory in this industry. For the several years that I have in like, we were using this relationship to help them to grow in and also as an I think, like they see is the most important part for the key project, like we are to using our not our knowledge and experience to share into them to help them find some of the shortcuts, and to, to help them to avoid some of the tricks in this industry. Thank you.
Johnny: Thank you, John. And guys, make sure to follow Neo’s update as well. Vivi, can you please talk about the Telegram mini app we knew that was literally the most discussed in the top discussion that we ever heard from our community? Like what are the similarities and differences compared to WeChat? Mini programmes?
Vivi: Yeah, yeah, of course. And I will also want to share something about our development. This year summer telegram app center supports Web2 and Web3 applications and minigames. Users can access these applications through the telegram app center, mostly mini programs and game applications in the chat box and share them with friends. Just one click. And our officials will continue to release different API's for developers, such as sharing buttons, payments, notifications, etc. And developers can develop your applications through both, h5 pages, and the platform standards. based approaches. And users can connect to Telegram wallet, and Ton space to applications and games without downloading other mobile app wallets such as Metamask. And currently applications and some decentralized minigames, now being deployed in telegram app centers, Telegram will be integrated into first-level or secondary pages in a more obvious way in the future. And I think the two are similar in a way that can be opened directly within the app. Users do not need to download a second app. And both can use WeChat and the telegram official payment to pay directly. And I think there is a difference. The biggest difference is telegram's information density is greater. Its core attributes exceed media attributes, which has opened many APIs. So it has a variety of similar data approaches. telegrams API is less open, and its protection of user privacy is stronger. Yeah, that's all thanks.
Johnny: Thank you Vivi. Yeah, we actually gave it a try as well, I personally, I'm a fan of it. And yeah, we also look forward to the department as well. Thank you. We appreciate that. And oh, hey, Cooper for injective. So like, there you go. The question: as an app chain will be fine primitive in Injective has recently welcomed an AI project. What's the motivation behind this collaboration? And like how do you ambition, that AI can empower the DeFi application?
Cooper: Yeah, great question. And awesome to see that you guys kind of are so aware of what's going on within the Injective ecosystem. So 100% There's a team called timeworx. They're one of our I think, you know, over 30 native ecosystem dApps at the moment in time, which is effectively an incredible application everyone should get right after this. Believe it might be like time works, AI or time works IO, one or the other. But essentially time works allows you to We kind of fill out prompts for these large language models. And within filling out these prompts, when you fill them out correctly, you receive a reward in the form of their time works token. So when you receive that works token, there needs to be a venue that's easily accessible, to swap to exchange to leverage to lend against, to borrow against, etc. And specifically, it's really that liquidity aspect on the spot market. And they've chosen Injective for that exact reason. Because they can have direct access to liquidity providers, they can have direct access to these financial modules that allow them to build a swap feature or an exchange feature. And most importantly, they get to continue building AI and what they know, and these prompts and applications and not have to worry about a domain that's not specific to them. So that's kind of why time works is so optimal for our ecosystem. Definitely recommend everybody, you know, go check it out. And, again, as we wrap up here, you know, definitely tune in to the Injective Twitter for all of our latest updates across our ecosystem. It's such a pleasure to kind of be chatting with everyone here today.
Johnny: Thank you, Cooper. Yeah, and AI is definitely a good topic. As a matter of fact, people actually say AI and BRC are gonna be the catalysts of the upcoming market. Well, anyway, yeah, that's it. You have finished our industry roundtable. And thank you so much, everyone, for joining this AMA. And again, this month CoinEx will be celebrating our six-year anniversary and we are hosting a lot of online campaigns and we do this with our global community as well. Make sure you stay tuned for our upcoming updates. And please make sure you follow in Injective, Neo, and Ton. We all look forward to talking to you guys as well. Cheers, Happy Friday and have a good one guys.
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