Scaling Dogecoin to Compete with Ethereum and Solana! with Carter Feldman
54:17 Share

Step into the world of power, loyalty and luck. I'm onna. Make him an offer you can't review with, and I mean everything. No, you want to get mixed up in the family business. Introducing the godfather at china caso com.

Ck.

in shadow world at the godfather. Sg.

class terms, in addition, supply, black friday is coming. And for the adults in your life who love the coolest toys, well, something for them this year, too. Bcci cian is the premier craft cocktail ed maker that automatically makes more than sixty seasonal and classic cocktails each on the thirty seconds at the push of a button.

And right now, but teaching is having a huge cycle de sale. You can get one hundred dollars off any cocktail maker or cocktail maker bundles when you spend lars more. So if the cocktail lover in your life has been good this year, all the right kind of bad, get them. But tiger, at the push of a button, make back quality Cosmos and manhattan s and more, all in just study seconds, all for a hundred of amazing toys are just for kids. Get one hundred off a cocktail maker when you spend four hundred to cyber monday visit about teaching outcomes as cocktail, that's B A R T E S I A N dot comes flash cocktail.

Everyone realizes within the dog in community. I think this is different than than some other communities. Everyone is fully aware that the only reason why this has value is because we all agree that does. But this is the same with bitcoin in every single other currency ever issued, including gold back currencies.

This episode is brought to you by uphold, which is one of the top critter platforms in the industry. I've been a user of uphold since twenty eighteen. We make IT easy to buy, selling, trade crypt u.

They have three hundred plus cyp to currencies on their platform, which includes bitcoin in all the top, all coins and folks. They do not commingle. They do not lend out your funds.

They are one hundred percent reserve, and you can review the transparent report. And they have a lot of great features that make IT easy to execute your trades. They also have a great new protocol, U S D interest accounts, which allows you to park your dry powder or your clipt your profits and earn up to four point nine percent A P.

Y. Now the four point nine percent aby is only on baLances over a thousand dollars. Blow a thousand is two percent.

But what's great about this, a product guys, is there's no lock ups, there's no monthly fees there, no subscriptions. And best of all, IT is fdi ensure just like a bank. So if you'd like to learn more about uphold, visit the link in the description.

Welcome to the thinking crypto o podcast on your host, tony Edward. And with me today's is Carter felman, who's the founder and C E. O of Q E D protocol. Carter, great to have you on.

Thanks much for having me tell me.

Carter, i'm excited to speak with you. As I mentioned before, they are recording you guys are building some incredible solutions to help scale bitcoin doge coin. And when I read that, I was like wait to IT and I get get you on because this is fascinating. Um and the solutions and the use cases are enabling for these assets is uh pretty incredible. Before we get there, talks about yourself, where you from and what's .

your professional background pressure. So um i'm from chicago as like a team nager. I was a well relatively well known video game hacker so I was one of the the prominent hackers with him like to call duty scene um I was a member of uh uh I don't want to say a criminal game but the game of sorts called x box underground um which you know we got some press about that a while ago but basically we were the only ones who could run modify games on x box life so we are of monopolized the x box live um cheating world and then um I was in charge of called duty exploit development which was like our largest funny source and back in the days on box three sixty, your modern warfare two, modern warfare three black ops.

Black ops to all those were sort of the the main revenue generators in the main group of players that wanted to cheat so um I come for more the computer security background you know a little bit of a reverse engineering but even then i've sort of had some exposure to create those you know the libertarian kind of guy and that always mashed very well with my world view um uh you know after that I A when the college for semester dropped out work that I start up um eventually move to china. I started um a great efforts company um IT was at the time called v five. We later merged within a european company called N I P um and ah we actually recently listed on the new stack uh dollar sign N I P G um so i'm still on the board there but uh yeah all my sort of data day stuff is spent ity although why do you have to add a shadow to ears on back in the head of ears which you may remember yeah um and uh uh black producer called the eos wrap so you are taught to one block producer for several years had over a billion us dollars stake to us. But I think that was then that I sort of saw some of the pitfalls of proof of stake, which later made me want to convert and start up like, see, can we actually build stuff on these older proof world chains that are more secure, but you know, don't really have the same smart contract infrastructure that we would see something unlike in a few years, years we have. My short, backless incredible man.

Congrats on the success which the company that he started to get listed on the as that can. So for then, uh, you have a fascinating background, but IT makes sense that you would end up in crypto because of your tech uh, finance um what was the the first encounter for you and when did they click for you for for a big coin or etheria, whatever may be, when did you have that aha moment?

So I used to do some programing work as as a child, and I would like use my doubt s paypal account. And there was a period where suddenly my papal account, like got frozen and I couldn't ask access my count. Like I was being like web development, sort of like I wasn't make A A tonne money, but you know as like a freshman in high school, I was you know was still good money.

I making more than I in working at mcDonald or something um so in the count out frozen because someone disputed to transaction and I had been you know i'd delivered the world but someone just decided dispute and then all the funds that I learned were locked up now I think paypal, by the way, I don't want to trash papal. I just have to say that because payout doing amazing stuff in crop, this was way back in the day that kind of maybe think, but this is not fair. And it's it's very strange that some centralized entity can just decide to take my money away.

And you know that was way back one. If we if we fast forward now our reliance on these like digital services and on these big internet companies has gotten much, much worse in terms of like dependency, meaning that they have the ability to radically change parts of our lives with the stroke of a pen, even just some land of employee of any of these platforms. Can you know if someone wants for some of these industry m influencers, their account is their whole life, and if their account, when away their life would be over, they would have to start from scratch. And I guess that sort of thoughts and seeing the trends of where society was going and moving more digital, maybe think like ocean, this is the, I don't know if I can course I apologize for that, but yeah IT maybe think like, oh my gosh, you know, we need something Better. And crypt, those seem like the only viable alternative to that.

嗯， 所以 did you then .

jump to， I was, you are no gm.

I mean a mountain .

x's user.

yeah wow. yes. I mean.

we trade IT like I used to also do virtual, so I was reverse and during video games. So we interacted a lot with some of those like paid goal, like the sort of you can buy, while goal like some of these kinds of websites, which is from this, is sort of the culture that spd mount gos, i'm not sure if if you know, but like mouths actually used to be a magic, the gathering trading website, right? Instated like some e game stuff um you know way back in the up. I don't want to say some of the websites, but oh yeah so I i've been around for a while.

That's awesome. So what did you know you from going from the gaming which was seem to be your passion ate back then? Do you know what? I'm onna build a solution in crypto u to help scale bitcoin and dog coin.

Um so it's kind of a longer process like join crept u again to when I was running E S black producers. And the reason why I did that though is the same as, you know why I eventually got D C, K, which is that I wanted to see blockchain scale to a point where we can build real applications that people like to use, like Normal things other than payments, or like the of the world, things that Normal people would use on, you know, a daily basis.

Um but I saw that the way that crypto was architected specifically we look at like bitcoin and thorium. It's the serial state machine where we can only process like something like you know twenty thirty transactions per second. And that prevented all these applications that I thought were very important to become desensitized from becoming desensitized.

And that's why you know why that eos s was more skilled than the theory. And then later um got C K help and came on the k that eventually delivered IT to to be on indulge coin. But coming from the perspective of reverse engineer who my job in high schools basically to cheat the system and give you for insane weapons that you didn't actually unlock right or give you in game currency on black .

S I don't members right?

You know cod points right? I can give you like two to the two to the thirty one minus one cod points right immediately in and you know reflecting on the the decision I made as a child, which I which I admit were probably not very ethical, um IT would be very nice to be able to build games and you know other digital services that weren't vulnerable to being have like you can just like reverse engineer theoria and like suddenly give yourself a million usdt, right?

And I think that sort of like you I I wanted to create a solution to, I guess like repay my debt to society for the the male feet enses of of my youth but um yeah no I ultimately I just wanted build a more decentralized internet and um that's that's really what what drove me and to like you don't wanted to build on on bitcoin induce going just because again I saw the security pip falls with with years. We can go into that if you want. There are some there's some interesting stories like reverse transactions on exchanges doing some manipulation on on the invalidate or side um but now we shouldn't get into that.

Now you worked at OK coin right before I I read so you you're at OK x for OK x was one of my biggest supporters. I love them because they didn't get involved in like the public or the decision making process. They were like purely financially driven like they wanted a little bit of A A kickback, the OK pool which all of the voters eventually did.

Um that's how like staking works on on yo and worth way that you get yield. But um yeah like the reason why big one dog could just because they were preformed and I knew that there, like the future of the internet can be controlled by an company because like IT currently is. So if we switch out your amazon, your facebooks for like exchange controlled proof of stake, kind of how to have fun anytime, anywhere, step one, go to jumbo .

caso M O M.

Step to welcome .

tampico .

isman delivering thrills .

for over a decade. So claimer free welcome bonus now and live the temple life.

Black friday is coming, and for the adults in your life who love the coolest toys, well, there's something for them this year, too. Martin is the premier craft cocktail maker that automatically makes more than sixty seasonal and classic cocktails two hundred thirty seconds at the push of a button. And right now, but teaching is having a huge cybrids sale.

You can get one hundred dollars of any cocktail make or cocktail when you spend four hundred dollars more. If tell your lover in your life has been good this year, all the right kind of bad, get them about t at the push of a button. Make back quality, Cosmos mart, manhattan s and more, all in just thirty second. All for one hundred of amazing toys are just for kids. Get a hundred of a cocktail maker when you spend four hundred to cyber monday visit about teaching dot cos lash cocktail that B A R T E S I A N dot come flash cocktail you know .

black chains, then it's not that much Better, right? We're just going from one group of hands to another group of hands, sort of controlling in the background. So but yeah big dog kind of kind of the only big chains that still have that super hard core very secure proof of work security, trust trust change or attacks surface so .

on that note of all question, would proof stake um i've i've read up about what you're saying right, where it's just creating a monopoly for certain folks again. Um and I am wondering he is IT, what's the solution here? Is that what you're doing right, that we don't focus so much on this proof steak uh tokens or or networks or there is a solution, but maybe they won adopt IT of that question .

because so it's like proof work is in alternative to proof state at very secure and we know it's it's powers the most secure blocks ing in the world, right? The problem is that it's a little bit slow um with proof stake. The reason White faster is because when i'm executing a bunch of transactions, I know who the next validator is gonna be right.

So I can do that hand off very quickly and I don't have to go throw a bunch of the intermediaries. In addition, we don't have to have this these kind of random chAllenges were on big point. IT takes like ten minutes, but there's very variability there.

So it's a little bit less consistent. And what that means is that the number of transactions that you can relay because you don't know who's gonna the next person decreases because you have to send the transactions to everyone versus with a proof of state valid or baseball ck chain. You just have to make sure that all those transactions get to the next person, right? The next first, this can be producing a block.

So if we have a gigabit worth of of transactions or even like a hundred megabits, if I to send a hundred megabits to everyone first is sending a hundred megabits to one person obvious ly, it's much easier investor to ensure that that one person gets in first is having to you know have everyone received every transaction immediately um we do send every transaction to everyone on big coin is just that IT takes a little bit longer. So um but but previous stake was was created to try to solve blockchain scaling by trading off a little bit of centralization for Better performance, right? What we're doing on dolge point in bitcoin is leveraging Z K to get even more performance with no security traders. And I don't know I don't know how much um folks know about K. I know it's been kind of like a hot buz word, so think your audience would be curious yeah I think .

proves your knowledge roll ups and all that uh the concepts behind that and um and then how you guys are leveraging ah that possibility yeah .

so like um just a sort of zoom out a little bit. The way that current block chains works that aren't powered by Z K, is every single transaction that anyone submit to the block chain needs to be validate and ran on every single node. So every time I broadcast in the fear transaction, I know transfer from U.

S, C, T. Every single authorities for node runs that transaction. And then the way that we ride a consensus is by comparing with each other to make sure that everyone got the same result.

So as long as the majority of people you know are running and validating the transactions correctly, will be able to arrive at a fair consensus, right? That sort of the idea. Now the problem with that, of course, that if you if you want to run too many transactions, right, let's say there's a backlog of a million transactions, right?

If I running in the serum note on my you know twenty hours a month server, it's not gonna able to run those transactions as fast as a really big B V server cluster. So if we have big B, V, several clusters running the validators, the notes that are like, I guess, less perform or aren't is expensive. You know the cheaper servers that Normal people maybe we would be able to run. Those guys can't keep up with those big value ders.

So they're gonna be on transaction ten, you know finishing processing that well, the big servers already proceed a million transactions, right? Which means that like as we increase the T P S of these traditional book chains, the number of notes that can keep up decreases, right, because that the more expensive of of a server you need to run in the serum node, the fewer if you're in noted through be right, because not everyone is going to work out that much cash torra a super family. Now a theory also is a serial state machine, and we can get into that.

But that sort of the core problem with existing block change, which is just that every single node needs to run every single transaction because the more transaction or the more notes that validate a transaction on a given chain, the more secure the chain is. And I think we can agree on that, right? The the more nodes check in to make sure there's no frag going on, the harder is to sort of rig the thing, right? Because if there's only two nodes, I just have to bribe those two nodes to like transfer me all of you know the theory or of your usdt and then maybe we'll do IT, but if there's thousands and thousands of nodes, then it's really hard for me, you know, sort of about create a conspiracy among gs, those folks we see can do IT. Does this really incredible thing where IT is ran here?

And have a question for you, what do you do when you win like you at this pumper A A hand clap for a high fiver? If you want to hold in on those winning moves, check out tumba caso. Choose some hundreds of social caso style games for your chance to redeem serious cash prizes, new game releases weekly plus free daily bonuses. So don't we start having .

the most fun ever at champ a caso doc CEO black .

friday is coming. And for the adults in your life who love the coolest toys, well, there is something for them this year, too. Martin is the premier core cocktail maker that automatically makes more than sixty seasonal and classic cocktails each.

And the thirty seconds at the push of a button. And right now, but teaching is having a huge cycle de sale. You can get one hundred dollars of any cocktail making or cockpen le when you spend four hundred dollars more.

If cocktail lover in your life has been good, this the right kind of bad, get push of a button. Make quality and manhattan more, all in just thirty seconds, all for a hundred of amazing toys are just for kids. Get one hundred of a cocktail maker when you spend four hundred to cyber monday visit about teaching documents as cock tail that B A R T E S I A N 点 come flash cocktail。

I can prove a million transactions on A B T server, right? And then I can send the the cheaper notes, a proof that all those transactions were valid. And the time IT takes for those, you know, lighter nodes of those know cheaper servers to validate my proof doesn't depend on the number of transactions that that were in included in the proof.

So IT takes a million second to verify all one million those transactions on my phone, right? And if it's a billion transactions or ten million transactions or five transactions, the time IT takes to verify the proof is exactly the same. So we can build book chains where every single node validates each transaction, but where the time IT takes to validate each transaction actually doesn't depend on the number of transactions or included in the block.

So you lower that buried entry for notes and increase the scalability, right? You can increase the scalability of a chain without decreasing its know the centralization by, you know, by by way of increasing the difficulty of running and note, right? So in addition, what you can do is before when we wanted to scale something by sharing, right, which is a common term that a lot of people probably here.

And all that means is that if we have a thousand transactions waiting in the member or waiting to be included in a block, no one thousand people all click the bottom in the death. We send five hundred of those transactions to one node and a group of notes, and we send the other five hundred transactions to another group of notes, right? So those cowards process in parallel those five hundred transactions.

Right now, the problem without a forces, just that the number of nodes which validate each transaction decreases by half, right? If we split the one thousand transactions, you know, in two groups and we have a thousand nodes, we've gone from a thousand notes validating each transaction to five hundred notes validating each transaction, right? So these kind of scaling methods don't work unless you have your knowledge proofs.

Because what you can do is you can instead take five hundred those transactions, send them to one node that node, generate a proof. Take other five hundred transactions, send IT to one note, have them generate, approve and then send everyone two proves which again takes only two more seconds to do. And then every note can still validate every single transaction. So we have a thousand notes. They still have a thousand notes checking each transaction.

And the really fact, the thing we're doing A Q V T, is that you know you can split IT up into you five hundred per proof for whatever, but you stole of this problem where the more groups that you flew IT up into, let's say we have ten thousand transactions if we split them up in the group of five hundred, right, we end up with twenty proofs, right? So the number of proofs starts to add up, right? If we have thousand proves.

Now we're talking about waiting a whole second. If we have ten thousand proofs, now it's ten seconds. Sixty thousand proves a minute, you know six hundred thousand.

Now we're talking about ten minutes. So that starts to run away. But another thing we can do is we can first split them up into groups, right? Have maybe ten transactions in each proof.

And then what we can do is we can take those proof and batch them in the groups of two and generate a proof which validates two other proofs, right? So the number of proofs that each note has to check to value all the transaction in the block decreases by half, and that we do that again and now is decreased by a fourth. And we continue doing this until we have one single proof that proves all of the transactions in the block.

But again, we're still able to massively paralyze this. So on Q, E, D, the users actually prove their own transactions. And what you sent to the network is zero old proof. And then we build a tree out those proof, which we can do in what's called all of log time, which is just the a, you know, a funny math way of saying this process of dividing the number of proof that everyone has to check by two until we have one proof left, right. And that one proof proves all the transactions from all the users in the block.

嗯， and then we send that proof of the bitcoin indulge, coin and other places, but we love our bitcoin indulge coin because our proof for and IT gets a checked there. So every touch point in the point out checks that through so we can inherit the security of bitcoin. Meaning, and again, what is bitcoin security means? That means the only way to to break the chain, or still funds on a layer two is, if you break big coins, own security.

So if the only way that you can break a layer to on the coin is by, you know, implementing a hack or doing something which will allow you to steal bitcoin directly on layer one, then that layer two has bitcoin security. These terms do get thrown around a lot. sure.

I don't know how happened and you've been with the system, but there's a lot of books talking about bit point security where there's there's attacks that you could perform on them that you know would not compromise bacon in itself. But you know, we don't do that. We don't do that.

That kind of false advertising. Don't want to say any names, but you eat that. I ve sure some of the folks in the audience have have heard of any youth of output that kind of how how how this works in. That's why, like we get buz words from time to time and blockchain.

But this is a really special one, again, because IT solves that problem of having to have every single note validating each transaction and the amount of work that each note has to do, depending on the number of transactions in the block. IT totally removes that problem. And IT, let's to supply these all of log and base scaling techniques that we sort of seen. Web two come to web three. 嗯。

yes oh yeah and on your website I noticed that the the can consensus mechanism excuse um is proof of math IT. Uh can you explain that or I don't know if you did touch .

already so um so the the validity of transactions is proof by proof now so what what that means is that these zero noodge proofs when I prove that you know these ten million transactions were valid. And that resulted in a state change of what's called the marple route of the train from one route to a new route, which you can use to approve any of the state information.

We're actually generating a mathematical proof that all those transactions were. So there is no consensus in terms, oh, we need the majority of people, to be honest, or we need a lots of people to check IT. No, you like the math. All you have to do is trust the math that underlies the system. And if you verify the proof, you mathematically can be certain that all those proofs, religion and all the transactions in the block were out.

So it's very different than a scheme words like, oh, because these people incentivize not to lie, right therefore all the transactions are gonna be A O K if I come do and I say I can mathematically prove that those s legit, I would hope that um yourself and and the audience would do, you know we trust math, but my math is good right um that is very hard to cheat. You can't really cheat at map. Um so so so guys it's um that's why we say proof that like we have t shirts say only provide trust is proof math of course we trust speak on proof four two that's that's the whole thing .

with so Q E D protocol is a layer ti sit on top those coin and big coin. What does IT enable what features in use cases.

smart contracts um so you can build full smart contracts on bitcoin in doge coin and get those underlying trust assumptions of bitcoin indochina again without having the upgrade? Or do these massive changes to pick on dog, which give them the same kind of functionality that we see on the theory because um i'm sure a lot of people in the audience also know like the cohn is a very old protocol, if I was the first right of force.

Um and dodge coin is based on a fourth of that coin, which was made very early in the bitcoin process. So bitcoin doesn't have tap, rude or segment or bunch of these other future to doing a very O G, we can say very O G fork of of bitcoin. And because of that and just because the way that bitcoins are protected, you can't really build smart contracts directly on bit point until now when we have this Z K P R code.

So sometimes we don't even call ourselves like a bitcoin layer too. I like to think much more is like of the bitcoin execution layer or the doge point execution layer because IT lets you run these smart contracts on these chains with the knowledge that the only way to break your smart contact, as if you break the corner doge point itself. 嗯， we are, you get your defy, you get your tokens.

You can issue N, F, T. As you can build ams, you can order book taxes. You can build like everything that we see on on etherium in sona, and those things can come over to pick one touch point. In addition, because we built around this model of horizontal scalability where we we batch these these proofs into proof of proof of proofs, you can also build applications that aren't really possible on a theoria like we can do one hundred thousand T P S.

Proof, meaning it's not like, oh, we just have, you know, other changes that have these big claims about statistics s they just learn like one or two villagers like who you have an especially ze server that can run lots of things just like facebook, right? But the end result of our process is a proof right? And approve can be checked by anyone in the world in a mile second, so you can build fully decentralized or book taxes, that sort of one of the big use cases that were marking, that have a user experience, similar to those of the centralized exchanges that we all know and love, give those users the same U.

X. That they're used to, without the risk of a sam bank man free coming, coming along, repurposing funds. We purposing giving them to care a line or someone someone like that and uh you know, losing your money, uh, doing bad trading on on the open market.

So um yeah you can build. But even beyond that, like payments we can do like credit cards, scale payments. Um we're talking with some some very O G traditional um finance players looking .

for excitement. Jumbo is here.

Play anytime, play anywhere, play on the train, play at the store, play at at home, play when you're board, play today for your chance to win and get daily onus ses you log in waiting for don't delay jumbo caso is free .

to play experience center game play like before capo right now to play hundreds of games online slot o lingo and more live the chAmbers life at chAmbers caso 点 com cms distance eating plus black friday is coming and for the adults in your life who love the coolest toys， well, there is something for them this year too.

Martin is the premier craft cocktail maker that automatically makes more than sixty seasonal and classic cocktails each and thirty seconds at the push of a button. And right now, but teaching is having a huge cyclist sale. You can get one hundred dollars of any cockup or cocktail when you spend four hundred more.

If talk tail lover in your life has been good this year, all the right kind of bad. Get them about at the push of a button, make bad quality Cosmos mart, manhattan s and more all in just thirty second, all for one hundred of amazing toys are just for kids. Get a hundred of a cocktail maker when you spend four hundred to cyber monday visit about teaching outcomes as oktai that ba T E S I A N dot comes flash cocktail .

that you have walked up to the crypto revolution or doing some amazing things more news about that coming soon. I can't review. But um yeah so like credit cards, your payments, um we're working a lot of social uh also a big fan of noster were building some now's ter integrations.

Um you know shadows the no to us like they're doing they're doing the lord's work. Um but uh yeah so have we have a lot of good stuff. So expect everything that you see on the theory um plus much, much.

much more that's awesome. And you mention the transaction speeds. Um i'm curious about uh, transaction processing, uh, fees.

So A A common problem with a theme was the gas is obviously there's a bunch of layer tooth of, I guess. So I solve that problem. What what is your transaction speeds look like?

And then yeah so I love the you say family solved IT because the main problem with with the way that these existing blocks are architected is that transactions or transaction space, black space is scarce, which means that like we can only process so many transactions per second. So the reason why a few um gas fees are high when they are high is because lots of people are trying to transact and there's more people trying to tract than can be processed by the network at one given time. So the priority goes to the people that pay are paying a higher fee, right?

So it's like an option for whose going to get their transaction in first with Q E D, since for horriston tally scalable and our block time is actually like oof log in the additional time increase of or like black time that someone occupied by the network for transaction actually decreases as the number transactions in a block increase. Your proportion of of of that black time decreases because again, it's a like log and like you can imagine um a very large number log and is a very small number. We all remember from math class I can get like two to the one thousand.

What's log of that one thousand? right? So you get really drops off very quickly.

So you can be expecting you know transactions for a penny that again have the full security of bitcoin. And doug coin, we are currently on bitcoin. You could be pain, twenty three hundred bucks.

No, no problem. I mean, if for talking about ordinal, they can get real high turn times of high activity. So yeah, we think it's gonna be a again changer. And you know with payment processors, i'm not sure sure how far you've gone into the the c vice face. But like payment processors are paying a few percent on each transaction.

So if a hundred box you know you're paying in a couple dollars and um you know we were bring that down to uh basically like you can get the most secure payment transfers in the world secured by bitcoin for promising fees that are vastly cheaper than the credit or oh yeah, it's it's gonna a game changer. We're were very exciting for our launch were just coming soon. So you guys .

raise six million dollars and blockchain capital.

however yeah so book chain capital is the first um crypto V C. Uh, they've been in this face forever. You know there were early backer ers of some of your favorite projects, i'm sure.

Um and um yeah like they've always been big fans of bitcoin and believed in the bitcoin vision and believed in big coin security. And I I first met the team. I think he was A F C C. Way back in the day.

And yeah like if anyone's looking to raise money, you should you should hit them up like everyone is just so impressive um I don't want to talk down on other VS but like they were one of the the very few verses that we interacted with where everyone on the team is incredibly smart and incredibly impressive and also incredibly good people, which is very important when you're looking for an investor. So we we definitely um you know love at first sight with with and they've been amazing and super support of us uh throughout the process. So yeah shouted the boxing capital people for you know believing in us and we're very excited to deliver for them.

Um this Q D uh have a token. Uh and if so, well what what's the token omics?

Um so there there will be A A token primarily will be used to like reward people that are participating the proving process so that are doing useful work. We we like to call P O U W proof of useful work um for the network. Uh there also be some staking components on the specific like numbers we're still working on.

Um like I want to shout out some of our other partners on the big one mining pols and the dote mining pols. We've been working very closely with them to make sure that we can design something where the existing bitcoin miners are going to be incentivize and get rewarded by Q, E D. Existing because at the end of the day, we need them to guarantee the security for the network, right? Like this.

The one thing about our us. Layer tools or execution layers is if the layer one security goes away, then our security is could put, right? So we need to keep those people involved and engaged and were working very closely with them to design, you know, token models that are fair, sustainable and most importantly, incentives people to secure than at work and make sure everyone's funds are going to be safe.

And layer two. And at the same time, you know people are going to be able to transact and get not very quick find, which is what you want. No one likes waiting for block confirmation.

So and to confirm you, you're the node you're going going to be specifically does big coin mining pull or will there be other folks as well?

Oh, anyone can run a node. I think that's very important. Like yeah, anyone will will be able to run a node. We're just working with them more to design and structures that will cause okay, who knows best about what incentive structures work or black chains, the people that are running notes and right, they know like, okay, if you have this incentive structure, people are duck on notes, right, because they're going to make more money mining this coin.

You're minding that coin, right? So and at the same time, they don't want an unsustainable model because if there's too much sell pressure, then the token just becomes worthless, right? So we're working with them to build like long term strategies and long term intent of models that are both healthy for the network, healthy for the community and healthy for the financial performs. Of the token.

are you working with any of the large bitcoin miners? And if you can name drop or you.

you may not be able to disclose the and pool .

f two poor are .

the big ones OK. They're like um so we can fork because I think dolge point is just this amazing opportunity because not really anyone is building stuff on dolge point. And yet IT has by far, like I would say, the best community in crypto, like in terms of most positive ves like very, very low toxicity, like almost know like bad people, like everyone's just very jovial and and light hearted and um you know dedicated to the cause.

So we've been working very closely initially um with the like the doge coin and because doge coin is merchant of like coin miners um to like role that out and also I have to shout out Patrick from um who's like one of the cordova in developers whose like has dedicated a large portion of his life for free. You know he's not compensated really at all um since doge fun like doesn't have like a of a traditional foundation in the sense that something like a theory does where he get token. No this guy's just doing IT out of the kindness of his heart because he love dog coin and he's been like super welcoming and you know is is helping us get um you know A Z K P solution into dog point that you know benefits the community. And yeah I just have to shallow patric, but yeah we've been focused a lot on on working with the dog pen guys. And fortunately though um five B G C and pool f 2 pool these .

are in the top .

four miners on bit point as well。 So you know yeah we you know chat to the family guys. We talked with them as well. They tend to be a little bit more which respect totally, they tend to be a little bit more on hands off like you're just purely dedicated to the business of mining big coin. So they don't really collaborate that much with with other like protocols. Are builders on background there more and in IT makes sense from the perspective of um you those argument to be made that for a minor you want to reduce outside of incentives to make the incentives as simple as possible in order to make sure like that the network is as resilient no as can be. So shouts them but um of course we really support you know I B D C F to pull and pull these guys for you know really engaging with us, inviting us into the community and you know helping this score along the way.

Are there plans to go to order to add other um tokens um such as light coin, another proof .

work on T V D. Uh, we're focusing on the connect coin first on I think it's already like we've been criticize by. For being distracted in our mission, for even just supporting to.

But h think it's very important to have looks, I think like also the kinds of apps that you'll see on the coin doge M I think will be very different, right? Like go john will be about fun um perhaps a pump that fun wasn't wasn't me wasn't me um uh yeah there's can be fund stuff N F T game stuff like that. I think bachan will be more serious financial stuff um but hey you never know you know um we've got a department of government efficiency coming on board. We'd love to see the post records and doge um you know shout out to elon mask and uh all the my dodge people as well shout the doge designer in Jordan um but um yeah uh and now what's of course but um yeah like hey.

it's right in secret life comes at you fast, which is why it's important to find some time to relax a little you time enter chammah casino with no download required. You can jump on anytime, anywhere for the chance to redeem some serious prizes. So treat yourself with chumba casino and play over one hundred online casino style games, all for free.

Go to champa caso outcome to collect your free welcome bonus sponsored by champ. A casino no purchase necessary. V G W group void were prohibited by law eighteen plus terms and conditions apply.

Black friday is coming, and for the adults in your life who love the coolest toys, well, there is something for them this year, too. Martin is the premier craft cocktail maker that automatically makes more than sixty seasonal and classic cocktails each. And the thirty seconds at the push of a button.

And right now, but teaching is having a huge cycle de sale. You can get one hundred dollars of any cocktail making or cockburn's when you spend four hundred dollars more. If cocktail lover in your life has been good this year, all the right kind of bad, get them about tea at the push of a button, make bad quality Cosmos, marti, manhattan s and more, all in just thirty seconds, all for one hundred of amazing toys are just for kids. Get a hundred of a cocktail maker when you spend four hundred to cyber monday visit about teaching dot com flash cocktail that B A R T E S I A N dot com flash cocktail you .

you never know. And I think that, that we're going to start with those to potentially like coins is actually something that were considering will be in the proof work summer and um hopefully talk with charly in the rest of the I coin guys yeah that would be secondarily to doing so.

I have a few questions on doge coin. This is A A moba broader topic as relates to me coins and the dynamic of investors and what we're seeing, right, the culture and the block chain means on the block chain and different things, you know big coin, it's kind of clear cut store value, art money, decentralized uh money and so forth, right? We we know the ethos.

Bitcoin, those coin was started as a joke, but IT has become as kind of a serious thing because you have people behind the community, you you mention their passion about IT, uh, they want to see adoption a bit. But at the end of the day, it's a dog, a dog coin and is a tons of mean coin. So I am not I don't want people make me think that i'm trying to bash me coin's, but rather I want to get your take on this new dynamic men, uh, that you can almost crowd source, fund different trends, means social movement. Is this the start of a new way to fund rates?

So what is the mean? I mean, it's just like I think Richard docking, right? It's just like a cultural it's like a cultural theme or symbol transmitted amongst people right now. There's nothing that's that different about bitcoin than dogs. One other than the logo is a dog.

So this is not like a dog with hat where it's a token that has no infrastructure or network behind, right? Likely, I think that something that we did that does get a little bit misconstrued like this is not SHE. But you know, right, there is a network behind that.

So there is proven social consensus. But so on another level like the U S. Dollar is a mean, right? It's just this this culturally thing where we're all inductive ated to believe that IT has value yeah right because of that IT does have value.

So I think dodge is sort of like the natural sort of like taking I was the right word, like taking things to the the end degree, like the natural sort of logical progression um of describing exactly what money is, right? Because money only has value because we all agree that IT has value. Like why does gold have value?

Because it's shiny and because it's rare? Why else right? Or like that?

I think diamonds are the best example because they are not even that useful, right right? Or at least the the expensive diamonds aren't that you? So the cheap ones are used.

You can use them in like a is sandpaper or something, or as a cutting edge. But the ones, that shiny ones literally have no use, right? Why are they value?

Because the shining, because someone made a commercial, diamonds are forever. They created a meme, and therefore the valuable right. So I, I, I think people use the me determine me coin, almost like the democratic, just because people see IT, because IT doesn't put on areas, so to speak.

IT doesn't pretend to be something that it's not. And um I think the fact that is kind of like a joke or I would always say it's like more democratic because the only everyone realizes within the doge queen community, I think this is different than than some other communities. Everyone is fully aware that the only reason why this has value is because we all agree that does. But this is the same with bitcoin in every single other currency ever issued, including gold back currencies, because only reason my goal is valuables, because we all agree that is shining and pretty, and we like IT right?

Like if if gold value is restricted to the fact that is a good electrical conductor, IT would not be as expensive as IT as today because to make the other other words need this much gold right, even less a little tiny nanogram r or whatever um so like I think douse the dolge community is just more self conscious and aware that the reason why this is valuable is because we all believe in IT. And since we do that as a community, we realize that we have control over this thing, that this thing belongs to us versus I think there is a sense in certain other communities, especially the proof of stake ones, where it's may be a lot of true, that if we participate in this ecosystem, we are not an equal stakeholder as compared to the people that have been in the industry for a long time. Because within doge realize that anyone that a doge supporter is part of the reason why doge exists, right, which I think is a very different mindset.

And uh, I think it's really cool. And uh you know, power to the people. Let's let's take back or are sort of our financial lives away from from those whose interest might not be in our in our in our best favor? And yeah, I think it's like the the natural logical conclusion of of the Crystal movement.

But yeah, I don't look down on mean coins. They're definitely some some like people that have created these new coins that aren't fail fair launches. They are clearly signed to scam people yeah and dodge counted is so vastly different than those like you have to do.

It's like it's a proof of world box chain, right? Doesn't it's fair. There's no like weird centralization and there's no pumping down scheme behind. So i'm not saying got in by like mama obama coin um but you know yeah I A different yeah it's a different different category with .

the mean point was created last week on base or sala that may get you may get logged in a couple of weeks versus dosh corn, which has been here from multiple cycle, has a community, is some merchants and businesses accepted as payments and so forth is a very big difference.

Y and you have to look at the motives behind something right? And also the decisions that were made early in the game, because doge coin was was structured as a joke. The guy who made I and I think this is the best test for any chain, including us.

You look who has the most of this coin, is IT the person that made IT? Or is that the community because the person that made IT then their incentives? 嗯， maybe to dumb you, but the guy who made doge coin isn't that wealthy, right, Billy? He doesn't have that much money.

He's not a the the biggest holder of doge. So I think you you you need to look at intentions and then also the actions behind those intentions to to make your own evaluations, but of course do your own research. This is not financial advice. If you get rx, don't confine me um something .

that keep in mind want to ask you um we regard to the uh enabling Spark contracts and biton and dog point you mention devi N F T S and so forth. We ve seen the rise of stable coin ts as being one of the killer apps of blockchain, right? Uh, everybody watching a stable coin IT seems now, with the Q D protocol, can folks launch a stable .

point course? And we really want them to. Now imagine if you want. Cause why do we have stable coin ces, because we want a more secure way of U. S.

Dollars, right? Where IT? What's the what's the most secure place that you could pass solely, you know, hope.

And now I said bitcoin, right? I would argue the second one is to join because it's the next highest market cap proof ford, right? So if you want to avoid the alleged police, if you want to avoid the censorship, you've got to go proof work.

And if you're GTA go proof of work, you're even go bitcoin or doge coin. Bitcoins downside, ten minute blocks takes a while to get find doge coin similar security. The bitcoin also proof work, you know, slightly less hash power, but at the same time one to two minute blocks, right? So if you want to issue a stable coin, you should issue on the coin in doge coin.

And the really the only game in town, if you want to get the full security is Q E D. So yeah, I mean like tether, what tether I think made more money than black rock last year. I believe there was a new report, which is, by the way, and it's amazing.

It's wonderful. Um and we love polo and I think Powell was on the show before, right yeah power is awesome also shots to the bit for next guys. We love them too. But um yeah like uh one of the really cool things get about quality is that we can do credit card scale payments. So proceed as many transactions as you want to do on VISA or a master card in a day because again, we're not really cap at one hundred thousand T P S.

Just the are black time is in the the time IT takes to make a block on q uy to produce a block to prove that final proof that scales with a number of multiplied by log n or n is the number of transactions in a block, right? So this is the same sort of like big in computer science, we called big o notation. But all that means, if you remember what a linear curve looks like, it's like the more transactions you get, the higher the longer takes to produce the block, right?

So that doesn't really scale, but with log IT goes like this in a sort of tapers off, right? So as you get more and more and more and more transactions, IT doesn't really grow that fast. So we can do credit card scale payments fully decentralized, fully trusts' on chain with cheaper fees and vision mr.

Card, let alone a max. And if you want to do stable coins, you can issue a credit card. You can issue you know any kind of in a mobile payment system.

Soon we're gonna, I think on apple. Do we already have IT? I know they're they have open S D K up for for apple payer or some of the other.

Um I think it's like the R F I year whatever is. I'm not a harder expert, but um so don't call me on that. But I believe we're getting some of that soon. And yeah, you can just imagine that anyone who wants to build payment infrastructure on chain should definitely competitive ity or the only game in town.

It's going to be able to let you scale to the you know max will potentially you that that you really want and that will will give you a fair shot at you know competing with the big boys. So um you definitely deployed the coins. Qt.

so what's on your road map or for the remainder twenty twenty four, anything you can share for A Q one twenty twenty .

five for sure. So um q in twenty twenty five, we definitely want to watch your test um right now in the road map, we're adding smart contract support for a bunch of different languages. We've got solitary.

Um we've got type script, were working on ross right now. Um so you'll be the call type script or the contract from your rust contract. So we'll be able to use whatever language you want.

And were also working on tuning that mobile prove to be super fast because again, I Q D users prove on transactions. So right now IT takes about two hundred million seconds or like zero point two seconds um to prove a transaction on Q V D. Fortunately, again, everyone proves their own transaction so the network doesn't get slowed down by that. Um uh you know we want to make sure that people can prove on your iphone or in your web browser.

So we're working a lot on a lot of those optimizations just to make sure that the user experience you get on qd almost feels like you're using a website, which I think as as an industry, the fact that matters that if we want to bring on more people to cyp, do we need to give them a user experience that they can tolerate. And we've got right now isn't really cutting IT. So um our efforts are focused just on ensuring that our user adoption will be as effortless less as possible.

That's awesome. Um well, really great self, man. I love the mission.

I love what you guys you're doing and i'm excited to test IT out. You know I want to go right. Um I get some rap of questions here for you. first. If you could create your own metaverse, what would the thing be?

A F P S. Metaphors would be super cal. Um but I think you know space also comes to mind on still waiting like we made a prototype a long time ago of a metaverse where like I can buy a piece of land and then I associate like an I P address of like uh a server with that piece of land and then you can kind of like walk through this like open space on the road and then just see what's going on on the piece of land and you can feel like a full F P S or like a zombie game or like you know a mario cart type car racer.

You can kind of look around and see all that stuff going on. It's a little bit chAllenging just because like you have to have like download those assets from I P F S and doing like some progressive loading. But since we're working on like this stuff that we are now, we don't leave time to work on that.

But I really love to see like one of the sort of like and game metaverse is come along because I think we would be so found like robo ks. But yeah, good graphics and Better scripting. And then also just I think there's something to be said about the ability kind like look into this parcel and see what's going on and kind of explore like that that like that discovery sort of sort of path I think would be so cool.

是 um I get some rapid fire questions， therefore your favorite ite .

food probably stake and trying to lose weight. So I hope I hope stake is relatively healthy. People say you can get that by by eating, eating all me. So i'm trying out by state .

it's a more diet. I think IT is .

right part that .

part of that a favorite .

musician ban .

v they were movie .

maybe goodwill hunting. Um yeah one uh.

favorite book.

Surely you're joking. Mr, find you right. That one should definitely .

check IT out. I actually one .

of the i'd .

death finites check that out. And when you are working on Q V T, what are you doing for fun?

Um so I love to ski. That's my like activity of choice. I've been skin since I was a kid. Um and then yeah just hanging out with friends. K T V since for best here in asia.

nice Carter, pleasure china with you. Man, i'm excited for the launch and all the upcoming uh, news. And so ford, i'd love to have you back on as things progress. But thank you so much for joining you.

good. Thanks so much for having me was a pleasure.

IT is ryan secrets here. People always say it's good to, but that easier said than done. The exception champ casino, they actually make IT easier done than said, or at least the same.

Maco is an online social caso with hundreds of caso style games like sand black check, play for fun, play for free for your chance to redeem some serious prizes. Sign up now. Collect your free welcome bonus. Champa casino 点 com， sponsored by champ, a casino no partis necessary V, G, W group void where prohibited plus terms and conditions apply.

Black friday is coming. And for the adults in your life who love the coolest toys, well, there is something for them this year, too. Martin is the premier craft cocktail maker that automatically makes more than sixty seasonal and classic cocktails each and thirty seconds at the push of a button.

And right now, but teaching is having a huge cycle de sale. You can get one hundred dollars of any cocktail making or cocktail when you spend four hundred dollars more. If tell love in your life has been good, this the right kind of bad, get sh a button. Make quality and manhattan more all in just study seconds, all for a hundred of amazing toys, aren't just for kids. Get one hundred off a cocktail maker when you spend four hundred to cyber monday visit about teach or comes as cocktail that B A R T E S I A N dot comes flash cocktail.