Waterfall AMA session January 17, 2024

Embrace new formats and experiences; they bring more voices to the conversation.

Hello everyone! I am happy to kick off our 6th session. It's actually the second one for this year and the first in Telegram. This is why we are experiencing a little bit of the delays. I believe if the format sticks, we will be able to address the questions from the community.

When I can, I will address the questions. It depends on the angle from which you are asking this question. Let me rejoin... Here we go, I am back again. Can you see my screen? Yes? Great!

Now, let’s address the current statistics. Currently, we have 27 workers in the community, and we are looking to develop future users of the waterfall. To become a worker and start taking basic test Water Coins, we have already highlighted this in the previous session, so I will not go through every detail here.

If you join, it will bring you to a fixed amount of 3000. You can find a lot of helpful statistics that will allow you to better understand what is happening on this page. These are the leaderboards for those who are interested. The live data shows how the network works now.

Now, back to the question. This is how you can test it. If you are asking about how it will be available for real-life testing, the answer is that it will be available as soon as we launch the mainnet. We are aiming to launch the mainnet by the end of Q1. There will probably not be a forecast, but there will be different other ways you will be able to participate.

I would like to remind you that we are not an association and we are not involved in any sort of distribution of the coins. The basic methods of distributing coins around the community are technical.

Next, the test will get the RE basic. We are not participating in the test as a bounty. What does this mean for the growth of the community? You can certainly recommend to others to join our coins. Let's say two months after the launch of the mainnet, you can also deploy yours or try deploying your DApps here, for example.

Again, when we launch the mainnet, there will be communications to prepare for this.

=> 00:11:20

Building a thriving community takes time, collaboration, and innovation—let's grow together and embrace the journey ahead.

The discussion revolves around the growth of the community and the various developments that are taking place. It is emphasized that we are here to support you, and there are opportunities for collaboration. For instance, you can certainly consider deploying your applications here. If we look at the timeline, let's say two months after the launch of the mainnet, there will be chances to engage with our coins and deploy your projects.

As we prepare for the launch of the mainnet, there will be communications regarding participation. For example, if you are willing to engage with ERC-721, there is a guide available to assist you in navigating the network.

The mainnet will be launched and will be available for people in the United States and other countries aligned with it, although some countries may prohibit this process. However, the specifics will be subject to legal advice that the association will obtain. It is important to note that none of us are members of the association, but they will make announcements regarding these developments.

In terms of new developments, our team is actively working on various projects. We are focused on enhancing the US unl on the water platform, which is a significant challenge that takes a lot of time. Additionally, we are working on light workers for devices with low performance, as well as a new token standard.

Moreover, three of our team members have been invited to participate as GU editors, which highlights our commitment to collaboration and innovation. Looking ahead, we anticipate the network launch in May or February, and we are also researching sub-networks and mobile applications.

The waterfall model we are using is based on my PhD research and represents the collective effort of our entire team, including our research and development teams. One of the main qualities of our work is its scalability, which allows us to process blocks in parallel. This concept is already in progress, and we are exploring multiple approaches to achieve this, including visualization at the level of SH.

In summary, we are excited about the future and the opportunities that lie ahead, and we encourage everyone to stay engaged as we continue to develop and grow together.

=> 00:18:55

Scalability is the game changer; imagine processing multiple blockchain blocks simultaneously for a powerful flow of data.

The main qualities of our process include scalability to different levels. We are currently discussing the parallel processing of blocks, a concept that is already in progress. Our team is actively working on this, which allows us to utilize multiple approaches. One of these approaches operates at the SH level. The visualization of the test net that I previously showed is indeed at this SH level. Essentially, it represents a single shard, and we are developing the concept that each of the blocks created simultaneously will be processed. This means we will have parallel processing not only on the single SH level but also on the M levels. We will be processing things in parallel, and further announcements regarding this will be made relatively soon.

When asked about the unusual name, I shared that I started to present the PhD work of the team. To illustrate, when we refer to "multiple," we mean a virtually unlimited amount—essentially a very large number. If we visualize the blockchain, it could be represented as a straight line where one block happens after another. This can be compared to a small creek or river, which has a single flow. Occasionally, there could be forks, but they ultimately sum up to a single straight line, making the other forks invalid. In our case, we have a more powerful flow of data, which is why we call it waterfall. This visualization may help clarify why we chose this name.

Regarding the installation and running of our project, we are currently using Docker for installation and operation on local Linux and Windows systems. In the future, we will transition to using native applications on each platform, which will enhance performance. Additionally, our project network supports all smart contracts on the EUM platform, as it was developed specifically for EUM.

Lastly, I want to mention that there are currently no ways to acquire waterfall coins for any activities we are conducting. Thank you for your attention.

=> 00:26:22

Embrace the future of decentralized ecosystems by actively participating and building your presence now—your early involvement can lead to greater rewards and visibility in the community.

Yes, for our project, Network support all Smart Contacts on the EUM platform. This means you can use the project developed for EUM.

As I said before, the next step is that you can get free waterfall coins. However, there are currently no ways to obtain coins for whatever activity we are doing here. We actually suggest that you start thinking about the dApps for the ecosystem. As you mentioned, you can easily migrate just the dApps that you like or that you may own on Ethereum or other EVM networks.

The community of workers will be the participants, specifically those who will be the workers willing to engage in activities. They will be able to use their coins for your dApps. Additionally, the earlier you develop your dApps, the better. The focus will be on your project because there is a kind of increased market presence in our network, especially with the upcoming launch.

Our growing and active community, which you are all a part of, will pay more attention to your project. This means you can obtain faster traction on our network. You are not limited to using only our platform; the bridge functionality is already operational, allowing you to connect with other networks.

Next, any tokens are offered only to us as non-personal. What does this mean? I believe it should state that coins are relevant to something I mentioned before regarding the coin distribution of the project association. This is in accordance with the provisions of any type of laws in any jurisdiction. The full list of jurisdictions will probably be announced later.

So far, this has been the advice covered regarding the network. The additional positive influence on the system's decentralization characteristics is significant since the number of network participants enhances decentralization. We are on the other side of that, as our approach aims to overcome the limitations of scalability while maintaining decentralization.

Now, regarding the next question: Where is your Ambassador Team? Currently, we are not in the US, but we encourage more people to join. If you feel that you can be an ambassador for us in a particular region or for a specific group of users, we encourage you to reach out. We will be in touch with you.

The Ambassador Program will be announced later, and if you are able to contribute to developing the network, that would be beneficial. Users can ensure that the network is working effectively, and they can participate actively.

=> 00:34:06

Become an ambassador for change and help build a self-sustaining ecosystem that empowers millions. Reach out and be part of the future.

The Ambassador Program will be announced later on, and we encourage you to reach out if you feel that you can be the Ambassador for the US for a particular region or group of users. The US will be in touch with people to facilitate this connection.

The program aims to develop a network that allows users to ensure it is functioning effectively. We want developers to enhance their capabilities and test with our network before the official launch. This is crucial for the success of the initiative.

The goal is to create a self-sustaining and self-regulating ecosystem that maximizes benefits for millions of stakeholders. We are designing for 3 million workers initially, with plans to scale up to hundreds of millions in the future using methods such as unlimited sharding and light workers. Currently, the maximum capacity is about 1 million workers.

If you have any questions or wish to reach out, you can find contact information published in the network. You can visit investor relations at Waterfall Network to discuss potential partnership opportunities.

Regarding the development of a Mobile Application, we are indeed planning to create one in the future. Our research team is working on a project called Light Note, which will be integrated into the mobile application. We envision this application not only as a wallet but also as a platform for publishing and researching articles about workers.

After the forum, we will publish a link referencing a particular paper that was presented during the UAD LTF.

To become a worker for the operation, the minimum hardware requirements include a CPU with at least 4 cores and 4 GB of RAM. However, you can add up to 16 workers on one device, provided that the number of workers matches the resources you possess and the required speed.

Lastly, we will address the question of why our product is better than others and what features distinguish us from competitors.

=> 00:41:06

Decentralization and scalability don't have to be a trade-off; with the right technology, you can achieve both.

Operation requires 3200 watts per second as the minimum hardware requirement. This includes a CPU with at least four cores and 4 GB of RAM. For better performance, a faster hardware CPU and RAM is recommended. However, you can add up to 16 workers on one node or device. The number of workers you have should match the resources you possess and FN speed.

Next, addressing the question, "Why is your product better than ours?" There are common traits in the industry: scalability, decentralization, and security. Ultimately, this boils down to a trade-off between scalability and decentralization, which many projects are affected by.

In a recent presentation, there was one person who raised their hand, followed by two more. The reality is that, for example, in our testnet, we have specific node requirements that are not going to increase for the mainnet. We require a two-core CPU and 4 GB of RAM, which is actually multiple times less than what your smartphone likely has. If you purchased your laptop in the last ten years, the chances are very high that you will be able to run the node on your computer. This is a significant parameter for decentralization.

By design, we can have millions of validators right now, and soon we will be able to have even more with the launch of the concept of Light, which will likely allow tens of millions or even hundreds of millions of workers to join the network as one of the decentralized technologies.

Regarding the statistics of our testnet, we already have more block producers than most protocols have on their mainnet, and for us, this is just an early start. In contrast, for them, it is the maximum they can achieve. Currently, the most popular technologies in this family support EVM, and they are more aligned with Move or Rust. At a high level, they are more like Rust-inspired ecosystems, as Move is very similar to Rust, and none of them actually support EVM.

To put it this way, the most scalable technologies today have high node requirements and do not support EVM. We have low node requirements and are using the actual EVM. Therefore, if we are discussing the family of the most scalable technologies, we have advantages in this regard compared to them. If we review the EVM ecosystem, we can probably outperform most of the currently popular technologies in terms of scalability.

As we move forward, we will likely be one of the most scalable technologies while also being one of the most decentralized. The only technology we are aware of that supports other technologies is the second-largest technology, which has fewer than 100,000 validators. We are able to outperform even Ethereum by the number of workers, which are block producers and validators. In the context of Ethereum, we can arguably be the most scalable and the most decentralized technology, or one of the most within the EVM ecosystem, giving us significant advantages in the global ecosystem of scalability.

=> 00:47:05

Decentralization and scalability are the future; our network is built to empower everyone and support endless possibilities.

Time is currently the most decentralized technology available, as it supports other technologies. The second largest technology is operating with less than 100,000 validators, which allows us to outperform even Ethereum in terms of the number of workers, specifically block producers and validators. In this context, we can arguably be the most scalable and decentralized technology, or at least one of the most scalable within the Ethereum ecosystem. This positions us advantageously in the global ecosystem of scalable contracts.

Regarding our projects, we already have multiple initiatives in the pipeline. There will soon be announcements on this topic, and we are aware of the upcoming developments. However, I prefer not to disclose details before the official announcements, as some information may still be pending. You can expect to learn more in our community channel soon.

Now, addressing the question about the testnet and the launch of the mainnet, I believe we have responded to this previously. To clarify, we will conduct tests on our testnet, and we plan to test extensively before moving to the mainnet.

As we approach the end of our session, we have two more questions left. One important topic is the grants we will be offering. This could be the subject of a separate AMA session and presentation, but I will provide a brief overview. We aim to allocate grants for two types of initiatives: the first is for the improvement of the technology itself, and the second is for ecosystem development grants, which support deploying and exploring different use cases.

There will likely be various types of grants and procedures in place, and we are also exploring additional ways to support projects through funding, marketing, and other resources.

I believe the main value for individuals deploying their dApps on our technology lies in the live and active community and our commitment to decentralization. I want to emphasize that we can accommodate nearly everyone in our community to be a worker on the network. Therefore, I encourage you to explore the deployment of various use cases on the network, as the launch is happening soon, and users will have the opportunity to explore these use cases further.

=> 00:54:20

We're building a community where everyone can contribute and thrive as we launch our network. Get ready to explore innovative use cases and be part of something big!

We are able to accommodate pretty much everyone in our community to be a worker on the network. Our mission is to encourage you to explore the deployment of various use cases to the network because the network launch is happening soon. Users will probably explore use cases, and the more we engage with this, the more we will see development in our ecosystem.

The community will be able to enthusiastically use and contribute to these use cases. You can hear some successful stories, for example, from various famous accelerators where people created pages. Thousands of users signed up to use these projects within the first week of their creation. Therefore, we have a very high probability that the project will create a platform where you will be able to achieve early market validation and early user adoption of your use case.

Regarding funding, we appreciate the type of support we receive. Now, getting to our last question: after the launch of the main network, we are generally more enthusiastic about having a larger number of smaller holders, like validators, in the network. The investor relations waterfall will not be our area of responsibility.

This concludes the list of questions we have for today. We currently have 30 participants here in the room, so if anyone is willing to ask a question, please feel free to do so. It will be our pleasure to provide you with the answers.

Our session will be based on our community channel. If you have any follow-up questions, feel free to ask them, and we will provide the answers in our next session. There are some travel plans for different team members, so the schedule for the next session may slightly change. However, it is going to happen approximately two weeks from now. We look forward to talking more with you. Thank you so much for being with us, and we sincerely appreciate your participation and contribution to the development of this technology, which is soon going to hopefully thrive.