Chain4Energy X FrensValidator AMA Recap

Last week on 10.02 we have hosted Juri Maibaum from Frens Validator during the AMA Session. The AMA had 2 parts — Team Questions & Community Questions. Below we are publishing the recap of the session.

Team Questions

TJK: The time for the AMA has come friends 😎Hello @iamjurimaibaum

How are you? Are you ready for our today’s session?

Juri: Hey! Yes, I am 🙂 Great, we are more than just happy to hear it! In this case let us begin😎

TJK: Maybe let’s start with an introduction — Could you introduce yourself?And what is your and Frens story?

Juri: My name is Juri, an I am the Co-Founder of Frens Validator & Cosmoverse. Cosmoverse is the largest annual Cosmos conference, and Frens is a validator business across the Cosmos and beyond. We started Frens approximately one year ago ! Before that, I used to produce crypto related content

TJK: That is very interesting to hear that you are not only a Co-Founder of FrensValidator but also of Cosmoverse Conference.

There are so many things I’d love to hear to know from your perspective. Maybe let me ask you this one — so what do you love the most about Cosmoverse from your perspective of being its Co-Founder?

Juri: I love to travel to new destinations figuring out how to ship the next conference each year. Also,it’s cool to interact with different crypto communities around the globe

TJK: Last year it was Medellin, Colombia. This year I can see its gonna be Lisbon, Portugal. I wonder in which other places will you hold the conferences within next 5 years. 😎How about some Asian Countries or North America?

But, let’s get back to our main questions 😁 One more related to yourself — how has your crypto journey started exactly? Before Frens, before Cosmoverse.

Juri: No, this year it’s gone be in Istanbul, Turkey 🙂 so, yes we’re about to head towards Asia this year! And then, let’s see!

TJK: My bad, Istanbul 😁Turkey is also a very good destination for us crypto folks.

Juri: My friend/ co-founder Fabian drew my attention to crypto in mid 2019 — since then I have been passionate about it and during COVID, I was figuring out how to enter the industry full-time successfully

TJK: Great to hear it 😁 I was also introduced to crypto by a friend.

Lets move to another question. What’s your ROI/ compensation when validating transactions on chains and providing infrastructure?

Juri: When setting up a validator, people can delegate their cryptocurrencies to us — this is how they can stake their coins without providing infrastructure directly. Therefore we charge a commission of 5% — this is how we get compensated/ earn money

TJK: Very fair.

Now — the big question comes — Why have you become interested in C4E and how has your story started with us?

Juri: We got in touch with the C4E team for the very first time in Prague at the gateway conference. What got us was the approach of using blockchain technology to improve areas in real life (I.e. cheaper energy prices/ green energy)

TJK: And we are happy that you liked our approach of using blockchain tech to improve areas in real life related to the energy industry & promoting the green energy production.

But since you are collaborating with us, so what benefits we might expect that you & Frens will bring to C4E?

Juri: Well, we run crucial infrastructure for lots of blockchains, including C4E, to keep them running- we have a high uptime and can provide additional infrastructure like relayers as well. And besides, always happy to interact/ bring value to the community by I.e. attending conversations like these 🙂

TJK: Great to hear it.

Now, here comes the last question to Part I of our todays session:

In your opinion what future challenges & opportunities lay ahead of C4E?

Juri: Onboarding offichain data onchain represents a decent challenge, I guess. And besides that, convincing people to join energy communities also brings a social challenge on the table — so, overall, the complexity of making C4E become mass adopted will be challenging since there are a lot of off-chain problems to overcome.

Community Questions

Question 1:
Hello @iamjurimaibaum

What are the potential benefits and limitations of the permissioned nature of smart contracts on the Cosmos Hub, compared to permissionless smart contract platforms?

Answer 1:
Well, the Cosmos hub follows a very different approach here — the hub‘s focus is on shared security aka Interchain security. The cool thing about that is that the hub supports the appeasing thesis — so instead of having a large network where multiple dApps are built on top of it, you have single chains for sophisticated use cases (I.e. Osmosis for swapping coins).

That’s very innovative but beats the risk that adoption takes place slower compared to the thesis Ethereum with its DeFi ecosystem follows.

So or so, I believe that the future of crypto is diverse and also dApp chains will play a role here — and the most dominant ecosystem that could carry this narrative the most by providing I.e. IBC and the Cosmos SDK, is definitely the hub — that said, don’t see the necessity of adding SCs to the hub.

Question 2:
Hello @iamjurimaibaum

How does the implementation of CosmWasm in the Cosmos Hub affect the security and stability of the network, and what measures can be taken to mitigate potential risks?

How the auto-compound tool work in your staking system?

Answer 2:
I believe it was governance proposal 69 that was proposing bringing CosmWasm to the hub. However, the community rejected this, which is why this won’t be happening (any time soon at least) anyways

Question 3:
How the auto-compound tool work in your staking system?

Answer 3:
We were actually the first ones offering an autocompound bot. It’s an ability that was shipped in an update of the Comsos SDK — essentially, it automatically re-delegates your coins to the validator. On chains like Osmosis, where no fees are attached, it’s easy for us to do it. Other chains, where fees are required, we cover the fees that need to get paid. If you want to fully understand how the bot works, I explained it in this video: https://youtu.be/bc1zSLmzH5c

Question 4:
Data privacy is one of the main limitations of blockchain and on a public blockchain, new participants can join the blockchain network freely and access all the information recorded on the blockchain. How do you ensure the confidentiality of the data stored on the blockchain? What solutions have you provided to maintain user privacy on your platform and with what benefits?

Answer 4:
This depends on what blockchain we are talking about here. We solely validate transactions. But your question is about how these transactions are decrypted — and this where the chain itself is responsible for. We solely confirm the transactions/ submitted blocks.

Question 5:
What advice would you give to someone who is just starting to learn about staking and the Cosmos ecosystem?

Answer 5:
Get some $ATOM, try out Osmosis, stake and trade a little bit here and there — attend Cosmoverse this year 🙂 and follow Cryptocito, Frens & Cosmoverse on YT to stay on top of everything and get your hands on some valueable educational content

Summary

At C4E we stress on the community power. This is why we invite you to participate in the regularly held AMA Sessions on our Telegram Group & Twitter Spaces. To stay up to date follow us on Twitter or Telegram.