Maud Bannwart, Alephium

Transcript

fantastic all right thank you all for being here that was a really great presentation from cardano Fred and I think we're going to touch on more of the topics that he did when talking about building longevity and value now we have various later on protocols that are going to be talking to us now we have mod from a lithium uh five percent then yes fantastic and we're going to be discussing a little bit about the project protocol and how we can build value and build for longevity because of course we're not just here for the bull cycles we also have to go through the bearish ones so yeah let's talk about how we're doing that would you like to see it fantastic thank you hi I'm very happy to be able

to start and telling you a little bit how we for longevity and value as us and the first thing I can introduce myself my name is I work for an FM and I'm responsible for everything that is not development related so if you have any super technical question I won't be the right person but for everything else I'm the one so what is elephant so elephant is a layer one why did we build another another layer one and what was the vision behind we believe that longevity in the blockchain space overall comes through diversity of choice and right now if you want to build a smart contract or decentralized application in terms of national technology you only

have one big choice right now which is building on the account model and proof of stake this is what dominates the industry and this is great but it has trade-off and we wanted to offer to the industry another route to explore for people who wanted to explore different trade-offs so what we focused on is really building for scalability smart contract security and reducing energy consumption because we are utxo and proof of work based so we have innovated on the core technology of Bitcoin to deliver scalable secure and efficient smart contract platform so I will talk a little bit about the tech but not too deep too deep

so how do we address scalability at alefium we have a core algorithm called block flow that leveraged the utxo model to build a very efficient and elegant sharding mechanism so sharding for those of you who don't know is just basically we are running multiple chain in parallel and the way or um starting implementation maybe differ from what has seen right now in the industry and this is due to us being utxo based is that the way we handle transaction within a chain or across a chain we have the same user experience because we can do this in a single step with the same security mechanism a lot of the sharding implementation that I left today I have at least two steps for transaction that are across charts and it's often use a different securization

mechanism for the transaction which results in a very different user experience for people transacting on the chain when it comes to Smart contract security because we are we have a new model a new utxo model because the state full utxo model it basically splits the way we handle smart contracts and token smart contract have a concept of state so they are basically handled the same way you would do on ethereum or on any account based chain but the token still benefit from the utxo model benefit from the security of the utxo model and introduces new paradigm like true peer-to-peer transaction because you're able to put in multiple input

into the same transaction and because we have this unique model we at the opportunity to build our own virtual machine and smart contract language and because we do not come first we have the opportunity also to learn from the pitfall that you're seeing in the industry and to try to address them right away so our Virtual Machine by technological choice but also by Design really addresses and mitigate most of the most of the common attack attack that you see on evm for example and your smart contract language was really built the combination sorry of our virtual machine and smart contract they were built together so that the developer experience is

as good as it can be and that we make it easy to build secure smart contract because right now it is very easy to make a mistake that can be very costly in the industry and obviously this is why we have the rise of smart contract auditing with you know sometimes various level of success and I think one other very important innovation that we have here at lfm is what we do on the energy consumption front because this is one of the main criticism of proof of work even though depending on your personal belief proof of work does offer um we believe right a higher level of decentralization and trustlessness but

also accessibility we wanted and we also feel like it's really a consensus mechanism that has been time tested but we wanted to address this concern and I think an easy way to visualize what we do at alefium when it comes to this is passed up until a certain level of decentralization of the network we are exclusively proof of work based but once we pass this level of decentralization and Ash rates instead of being exclusively proof of work we are what you could see simplistically as a combination of proof of work and proof of burn so miners are still asked to increase the computational power but it's not following the same growth and you kind of cap a little bit the computational power needed and you the

difference is is being paid upfront by burning coin so like this you can you continue to increase the security of the chain but you cap the energy consumption and maybe to give you an idea and kind of quantify what I'm talking about if we were ever so lucky to have the same network usage in the same network characteristic as Bitcoin we would consume around almost 9 percent less of the energy and so this is a really kind of an overview of all of our technological innovation that are brought together on the left film and just maybe as I noticed that this is a chain that is live the main was launched a year and a half ago

for us another point that is can be seen in our technological choice but it's also accessibility and accessibility it doesn't translate just in your technological choice but everything that we've done so we spent really a lot of time working on our wallets any front-end interface that we are the one providing we have a very full-fledged SDK for developer to build because we really want to make it easy and accessible at every level for everyone to build on the left film and another thing I'd say that may be interesting when you look at elephant how we build for longevity is what we obviously were very early stage so right now the core

team and the core contributor are still doing the majority of the work but what we are striving for is really how how can we shift this and have what used to be the core team kind of Fades into the community how can we build True Value so that the people that are benefiting from our technology have an incentive to contribute and continue to develop it in the way where they want to see it so we have a very small team we have raised what can be considered as a conservative amount compared to some of the fundraise we've seen in Industry really because what we are trying to achieve is to offer a utility offer an option for people when they are looking on what they can build but we don't want to

develop an ecosystem that would be artificially maintained by influxophone we want to build something that people see value in and are interested in contributing and seeing it provide more value to more people we have worked really hard with that FM we really feel like we hope and this is really what we want to do is to really ignite the industry interest for the potential of utxo based blockchain for smart contract application and as a true alternative to what dominates the industry today and this is a little bit everything that we do on this topic and I will take any question if you have

um fantastic I think we do have the time for two quick questions I'd love to ask one as I saw it in your slides here on the basis of we stop to a certain extent talking about the tech and more about what it enables um and a lot of the longevity towards that is of course the community in this room and the community that is going to be around that I mean how are you looking to bring various projects Beyond maybe let's say that wonderful tech stack that you have to the protocol to build for the future when we do this we look really about how we can incentivize and make it easy support people who build on a life obviously one of the most used mechanism would be a grant program and things like

this we're trying to you're not going to reinvent the wheel this is obviously something that we are already offering but we are trying to expand it maybe a little bit beyond and offer like if you're building a crypto project eventually you're going to need to talk to a lawyer and if you don't maybe you should um so we want to try and have you know Partners from our ecosystem that would be in addition to providing financial support also offering maybe legal marketing and even funding because we have obviously a network of investors that will be interested in supporting our project and basically combining all of those resources and making them really easily available for people who want to build an lfm I think another thing that we have being very early in a

small team is that we are also very accessible so quite Hands-On so I think we we really want to work hand in hand with people coming to build on the left film and to really help them Leverage The the full power that it can have fantastic wonderful I might just have the thing for you I will keep that for later so um do we have a question here for mode by any chance could hear a pin drop we're in the crypto Valley I mean any any particular reason in you being in Switzerland do you have any other Geographic um let's say Horizons are you looking at

other places around the world um tell us more about yeah that choice potentially I guess so we also took a little bit of a step a little bit different from the crypto industry here in Switzerland so we are Incorporated in Chateau I know I'm sorry don't tell anyone we are incorporating The Chateau but the reason that we chose Switzerland specifically was first we were in Switzerland we are all the majority of the team is based here in Switzerland but I think Switzerland has the benefit of having a true crypto ecosystem regulator even though you know people have opinion about regulator it is still a regulator that is open to discussion we might not end like the result of those discussion but at least there is a

line of communication especially in Zug with the tax authorities it is the same people are trying to educate themselves and to work with the crypto ecosystem to make it part of the of the of the space and I think this is something that is very unique to Switzerland this direct line of communication between crypto project and the various Administration and that want to develop the industry and there is also like a wealth of talent and people from all over the world fantastic thank you thank you so much and you see the crypto Valley is really inclusive even of those that from fantastic thank you so much more let's go around our Applause [Applause]