Skip to main content

Pablo Peillard
Pablo Peillard 0.0.24535
55
Chief Decentralizer

Do you have questions for Pablo Peillard?

Log in to ask Pablo Peillard questions publicly or anonymously.

Post
AMA

Community AMA: Hedera Consensus Service is coming

For this special February meetup, we will be joined by some of Hedera’s 2020 MVPs for an AMA (ask me anything) session focused on the upcoming release of the Hedera Consensus Service (HCS).

For those of you who aren’t familiar, the Hedera Consensus Service (previous webinar with details on HCS: https://youtu.be/84bmHRO5OqE) offers the ability to create scalable and verifiable time-stamping and ordering of events for any application. It utilizes the native speed, fairness, and security of hashgraph consensus, combined with the trust and governance of the Hedera public network.

Such events might include asset tracking across a supply chain, music stream counts for digital rights management, or a log of digital asset transfers. Hedera Consensus Service can be used standalone or as a decentralized ordering layer for other ledgers, such as Hyperledger Fabric, Ethereum, or Corda.

We are taking questions for this AMA via the DailyStamp, so please go here. To submit your questions be sure to tag AMA as the topic.

Livestream Link: https://youtu.be/L373_28dP2s

About the Panelists:

• Pablo Peillard (Hashing Systems) - Pablo is a skillful technologist focusing on decentralized solutions. Previously with Consensys at Grid+, he is now the founder of Hashing Systems, a Hedera Hashgraph venture studio behind Composer and Hash Name Service.

• Sharat Chandra (Government Blockchain Association - India Chapter) - Sharat is a Keynote Speaker, Blockchain Evangelist , Hashgraph Ambassador, Educator and is featured among World's Top 100 Blockchain Influencers & Leaders by Lattice 80 and Thinkers360. Sharat is also volunteering as President of India Chapter, Government Blockchain Association, a global non-profit organisation, helping governments across the world understand and adopt blockchain. He has mentored multiple startups in the blockchain and fintech space and a regular publisher of thought leadership on emerging technologies.

• Vishal Dharmawat (Rejolut)- Vishal is an ambitious but a level-headed and business-driven personality having 9 years of IT experience, who loves solving problems, with a wide experience of successfully executing the complex projects in a hyper-growth environment. He is the Co-founder of Rejolut and a Techo geek with a focus of DLT Technologies.

In his spare time, Vishal enjoys to spend time with his kids or learning new technologies.

• Amit Kumar (Rejolut) -

• Cooper Kunz - Cooper is the Developer Evangelist at Hedera Hashgraph, where he grows and supports Hedera's strong technical community. Beyond decentralization, his interests include hiking, quality coffee, and sour beers. Prior to Hedera, Cooper studied philosophy and computer science at the University of Arizona. While there he also ran Hack Arizona, one of the most popular hackathons in the United States.

Post

On improving on the current Smart Contract implementation on Hedera Hashgraph

The EVM running on Hedera offers substantial improvements over Ethereum with transaction finality and fair ordering. These enhancements come with drawbacks that must be addressed before mass deployments can take place.

Concerns in current implementation:

  • 800kb contract state size limit
  • 25 tps

Goals:

  • Reduce or remove on-graph state size dependence
  • Validate communication through Hashgraph Consensus Service
  • Provide native-like Ethereum smart contract experience
  • Provide migration or native (current) smart contract support

Important Requirements:

  • Encourage Hedera usage as L0.
  • Pay any fees with native HBAR. This encourages usage of the Network token and reduces overall ux friction.
  • Encourage Validators with reward fee. The total made up of the Consensus fee (direct from Hedera) and a Validator fee.
  • Becoming a validator can be fully permission-less with a substantial security deposit (stake) of ie: 125,000 hbar.
  • Main network should ensure data validity

We looked into a couple of smart contract implementations that can be applied (more than one can be used):

  1. Ethereum Fork where blocks are sent via HCS.  ie: https://developer.elastos.org/discover_elastos/core_modules/ethereum_sidechain/
  2. Token Ledger. ie: Simple Ledger Protocol from BCH https://simpleledger.cash/
  3. DappChain contracts with validators. ie: https://loomx.io/
  4. Off-chain Virtual Machine Implemented via current Smart Contract service. AVM: https://offchainlabs.com/arbitrum.pdf
  5. Offloading state to IPFS-like network. ie: 93%+ reduction would mean a 14x increase in smart contract state size availability. https://www.researchgate.net/publication/331399284_IPFS_for_Reduction_of_Chain_Size_in_Ethereum

 

Making a Space for Community Dialogue

At Hashing Systems, we’re creating a space for members of the Hedera community to share their ideas, questions, and developments.

The circle of developers, users, investors, and enthusiasts on Hedera needs a place to foster group dialogue. This not only brings transparency but also empowers community building.

DailyStamp

DailyStamp is a platform for members of the community to freely share knowledge and interact using crypto. This content can be questions and answers as well as news and projects on Hedera. Readers can follow specific authors, whose content then appears on readers’ feed.

This website also provides a space for continuous dialogue. Under the channels button, anyone can join conversations under threads related to different tags.

The incentives

We see a future where content makers can be paid in two ways, tips and pools. The first is voluntary tips from readers that like their content. The second one will be receiving money from a daily pool of money shared amongst content makers: the share they receive is proportionate to how much readers like their content.

If there were 100 upvotes in total on DailyStamp on one day and someone’s content received 40 upvotes, they would then get 40% of the daily pool of money.

The money used is in the form of cryptocurrency (hbar) and will be transferred through Composer (the chrome extension on Hedera). Hbars can be exchanged for dollars, or other cryptocurrencies, on crypto exchanges like OKEx, Bittrex, etc.

The rewards

We will be running a reward program for the most reputable users on DailyStamp. The top 10 will receive a share of 2,000 hbars. The ranking is determined on how users interact on the platform. This includes asking and answering questions as well as maintaining a complete account.

We want to continue to reward good content through other rewards, as we feel it will bring about an environment of creativity.

Join the conversation here. After a quick signup process, you’ll be set to be part of our community of idea sharing. Don’t forget to have Composer installed on Google Chrome if you want to transact using hbar!

Receiving hbars for posting content is not guaranteed. Additional terms may apply. Note that these distributions may be taxable to you, and Hashing Systems may request additional information from you either before or after the distributions are made. We do not guarantee any monetary value associated with hbars.

 

No more items...