PolkaBridge x Casper Labs AMA Recap

The reward pool is 1000$ sponsored by ChinaPolka

Leading the AMA are the representatives of the project:

Cyclese — @cyclese_polkabridge — Co-Founder of Polkabridge.

Zeph Williams — @zephwilliams — Co-founder of PolkaBridge, also the UX/UI Designer

From Casper Labs, we would like to welcome:

Medha Parlikar — @MParlikar — CTO and one of the Co-founders of Casper Labs

The plan of AMA session:

Part 1 — Introduction and preselected questions.

Part 2 — Live questions

Part 3 — The Quiz about PolkaBridge

PART 1. Introduction of project and community questions.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Hi

Medha | CTO Non-asker of coin

Hello!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Nice to meet you @MParlikar

Can you short introduction about yourself?

Zeph | Co-Founder PolkaBridge (Never DM First)

Tell something about CasperLabs too ^^

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

we are very pleased to be AMA with Casper

Medha | CTO Non-asker of coin

Yes! Hello everyone! I am Medha Parlikar, the CTO and one of the CoFounders of Casperlabs, the company building the Casper Protocol. Before this, I was a Senior Leader in many large software companies like Adobe, Avalara and MP3.com

CasperLabs was founded on 10/31/2018 — exactly 10 years after the bitcoin whitepaper was published!

We founded CasperLabs because we believe that a decentralized pure PoS protocol based on the Casper research is possible. We also believed that a blockchain built for business is what the space needs for adoption.

Without a decentralized permissionless blockchain as an option for business, we fear that private, permissioned blockchains will thrive. Scaling is a real problem, and we felt that the opportunity to solve that problem using Casper is a big opportunity.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

CasperLabs is awesome project

Medha | CTO Non-asker of coin

I would like to think so.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

So are you ready for AMA? we will go to part 1 now

Medha | CTO Non-asker of coin

Yes I am!

Zeph | Co-Founder PolkaBridge (Never DM First)

Okey, the first question for you

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First) pinned this message

Zeph | Co-Founder PolkaBridge (Never DM First)

It’s from @alexvinh

What is the vision and mission of #CASPERLABS?

What problems are you trying to solve? Do these problems remain unsolved with the existing public blockchains?

Medha | CTO Non-asker of coin

As a former director of Engineering, and product leader at enterprise software companies, I know what is needed in a platform in order to build a real business solution on top of it. I did not find these things in existing blockchain technologies.

So we built it. All software is governed. There are lots of rules around which changes go into software, how it is tested and released. In blockchain, this is called governance. But governance is not a new thing. I decided to build the blockchain that would satisfy my requirements as an Engineering director in enterprise.

- The ability to upgrade smart contracts.

- The ability to drop support for a contract version.

- Decide who can upgrade a contract

- Weighted accounts and thresholds give the devs the ability to create new features.

Zeph | Co-Founder PolkaBridge (Never DM First)

In case you forgot,

In this part, We’ll select 8 questions from the community. A user can submit maximum 2 questions. 8 Questions will be selected from our form — please submit your questions in the form at https://forms.gle/ygvJvgKZBeeKk7dC6

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

In reply to this message

yes. i trust CasperLabs will become big blockchain platform

Medha | CTO Non-asker of coin

We created the features that developers need.

Zeph | Co-Founder PolkaBridge (Never DM First)

Do you think Casper Labs will be “Ethereum Killer”?

Medha | CTO Non-asker of coin

I believe that we are different enough from Ethereum. There are a lot of developers and opportunities for both to exist.

Only 1% of all developers are using blockchain! We are not planning on converting existing blockchain engineers to Casper. Of course they are welcome, but our workflow is much more like the traditional engineering workflow, you can build contracts in an IDE.

Software engineering does not happen in the browser. It happens in an IDE. Current blockchain projects require a browser for development because the environment to run contracts is very hard to set up! But our setup is the same as Java.

We provide SDK and runtime for smart contracts. It is also possible to write smart contracts using Rust, AssemblyScript with plans to add more languages as they compile to wasm.

Zeph | Co-Founder PolkaBridge (Never DM First)

Oh understood

Medha | CTO Non-asker of coin

we believe that blockchain will become a small part of a larger application architecture

there is a lot of software already created, this will not go anywhere. Blockchain must integrate into this architecture.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes i think so

so the next question

Medha | CTO Non-asker of coin

Our smart contract workflow enables companies to very easily add Casper smart contracts to their architecture

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Q2 from @dogecoinmuskfomo

There are already many Blockchain platforms are available which Provides Great Scalability for Smart Contract!

So, Why should any Developer should Create their Smart Contracts on CasperLabs rather than Ethereum or any other Platform?

i think it’s also good answer for Q2

Zeph | Co-Founder PolkaBridge (Never DM First)

Sorry Cyclese, pls wait Medha 😂

Medha | CTO Non-asker of coin

👍

Zeph | Co-Founder PolkaBridge (Never DM First)

So, we pass the 2nd one?

Medha | CTO Non-asker of coin

I can provide more information

Zeph | Co-Founder PolkaBridge (Never DM First)

Sure

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes

Medha | CTO Non-asker of coin

The casper protocol provides capabilities to manage contracts and what can be done. Here is an example of our account capabilities.

Here is a description of account capabilities

Zeph | Co-Founder PolkaBridge (Never DM First)

hmm, So technical, right?

Medha | CTO Non-asker of coin

The blue portion describes what is possible for accounts. These are capabilities. On top of this (white) are features that developers can build

A platform must provide capabilities to developers, so developers can build features for their products and users.

Casper can support any kind of key scheme. We support ETH keys (secp256k1) and ed25519 keys.

Contract upgrades allow for contract state migration.

It also supports immutable contracts for DeFi if desired.

The platform does not tie the hands of developers. It’s very flexible. Only transactions are immutable.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

In reply to this message

is it easy to use? On ethereum blockchain, upgrade deployed smartcontract is very hard

Medha | CTO Non-asker of coin

Contracts are deployed in a package. When a new version is deployed to the package, version number is updated. Migration script is part of the contract itself.

Upgrades are native to the contract.

https://docs.casperlabs.io/en/latest/dapp-dev-guide/tutorials/upgrade-tutorial.html

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Oh it sounds easy

Medha | CTO Non-asker of coin

#[no_mangle]

pub extern “C” fn upgrade_me() {

let installer_package: ContractPackageHash = runtime::get_named_arg(“installer_package”);

let contract_package: ContractPackageHash = get_key(CONTRACT_PACKAGE);

runtime::call_versioned_contract(installer_package, None, “install”, runtime_args! {

“contract_package” => contract_package,

})

}

This is part of contracts.

There is a function call ‘upgrade’

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

as you know, i’m Solidity developer and when i heard that, i’m really love Casper Blockchain

Zeph | Co-Founder PolkaBridge (Never DM First)

yup yup, me too Cyclese 😁

Medha | CTO Non-asker of coin

We consider these features as critical!!

You can even perform state migration for the contract.

pub fn add_contract_version(

contract_package_hash: ContractPackageHash,

entry_points: EntryPoints,

named_keys: NamedKeys

) -> (ContractHash, ContractVersion)

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

so can we migrate contract from Ethereum to Casper? is it support?

Medha | CTO Non-asker of coin

Add contract version API

Zeph | Co-Founder PolkaBridge (Never DM First)

is there a chance for an ERC20 token can be migrate to Casper Network?

Medha | CTO Non-asker of coin

We have a prototype transpiler that we are working on. It is possible to transpile from Solidity to Casper DSL

Zeph | Co-Founder PolkaBridge (Never DM First)

In reply to this message

oh we have the same questions :D

Medha | CTO Non-asker of coin

So far we can transpile ERC20

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

nice

i will try to use Casper after this AMA haha

Medha | CTO Non-asker of coin

We will help you!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

so we should go to Q3

Zeph | Co-Founder PolkaBridge (Never DM First)

Ya, The 3rd one is from @hoangthaomai

While checking websites, I see that CasperLabs have its own Consensus algorithm which is Casper-based proof-of-stake consensus protocol!

So, could you explain what’s the main advantages of this Casper Based Proof of Stake Consensus in CasperLabs?

Medha | CTO Non-asker of coin

1) The consensus protocol is very secure. It does not use statistical or probabilistic properties for security. For each block 2/3rds of stake must vote on it. Our security review was clean. https://github.com/TrailOfBits/publications -> Highway

2) It is also flexible, making it resistant against attacks, and this also gives it the ability to speed up or slow down based on networking conditions of the validator set.

3) It’s efficient because it has no PoW in it. It’s pure Proof of Stake. Casper performs execution after consensus, so once your transaction is processed, it’s already finalized.

4) It is decentralized because new validators can be selected at the start of each era (approximately every hour)

How is our protocol different from Ethereum?

Casper FFG is a concrete Proof-of-Stake overlay mechanism that will work on top of a Proof-of-Work blockchain. So it is a hybrid approach that adds PoS-based finality to a PoW network, as an additional security feature and an intermediate step towards pure PoS.

CBC Casper is a general framework, and PoS-only. Our network will not include any Proof-of-Work mechanism.

Zeph | Co-Founder PolkaBridge (Never DM First)

What a detailed answer! 😅

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

good concept

Zeph | Co-Founder PolkaBridge (Never DM First)

Any additional questions Cyclese?

I do not

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes , you can ask

Zeph | Co-Founder PolkaBridge (Never DM First)

In reply to this message

Feel free to ask her pls

★SHUVO★ PolkaBridge CM

In reply to this message

Awesome.

Here is a picture of how the validator auction works.

Bids are accepted all the time — from prospective validators and delegators (stakers) — who choose who to stake with. The ones with the greatest stake will be selected. At launch we will have 100 slots, and this is planned to increase to 200 nodes.

Kendry $PolkaBridge CM$

Great

Medha | CTO Non-asker of coin

Stakers can make big decisions to select validators for the protocol! Everyone should keep their own keys!

Zeph | Co-Founder PolkaBridge (Never DM First)

Clear @javiierdelgadoo ?

Medha | CTO Non-asker of coin

Yes it is pure PoS.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

thanks for the very detailed and complete technical information from Casper

So are you ready for next question @MParlikar ?

Medha | CTO Non-asker of coin

Yes!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Q4 from @Frank_NativeGaming9

What is the main role of $CSPR in your project? What are the benefits of holding $CSPR in short and long-term?

Medha | CTO Non-asker of coin

Speaking for the Casper Association here — It functions just like eth on the ethereum network. It pays for transaction processing and the protocol mints it to reward validators for their work. It addition it’s also the staking token.

The reasons for holding the token would be the same for holding ETH.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes, it’s main factor in Casper network

Medha | CTO Non-asker of coin

Indeed! Casper (Highway) uses economics to provide security and incentives

We spent a lot of time on the incentive design.

Zeph | Co-Founder PolkaBridge (Never DM First)

what does transaction fee depend on?

size of bytecode?

Medha | CTO Non-asker of coin

Presently transaction fees work the same as gas. Operations yes

size of bytecode + opcode execution (complexity)

To get very technical, Casper performs execution after consensus. So only the size of wasm bytecode + count of transactions are included in the block.

Validators are not able to execute the transactions and determine profit. This means all transactions are processed First In First out.

Also Casper does NOT use Nonce!

which makes the management of transactions much easier.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

so are many applications running on Caper Network?

Medha | CTO Non-asker of coin

We have a lot of interest from companies and projects. Visit blog.casperlabs.io to learn more!

We announce new partnerships as they are finalized!

Zeph | Co-Founder PolkaBridge (Never DM First)

I wanna see PolkaBridge there too 😜

Ah do you think transaction fee on Casper will be large, like Ethereum now? It’s terrible.

Medha | CTO Non-asker of coin

No — Casper will implement sharding in the next 12 months.

Zeph | Co-Founder PolkaBridge (Never DM First)

Sound good

Medha | CTO Non-asker of coin

Casper also has ‘Gas futures’ feature, that enables contract authors to book space in future blocks. We do this by tokenizing block space. Our block architecture allows us to do this.

Presently we reserve space in blocks for auction calls and wasm code, and token transfers. We simply extend this capability to include reservations.

Zeph | Co-Founder PolkaBridge (Never DM First)

A new concept, I think I will research after this AMA ^^

Medha | CTO Non-asker of coin

You can observe the space reservation. The Gas futures is not implemented as yet. Soon!

Zeph | Co-Founder PolkaBridge (Never DM First)

OK, I think it’s enough, Let’s move to the next question!!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes. go ahead

Zeph | Co-Founder PolkaBridge (Never DM First)

It’s from @Kvantrum

Why did you choose the Coinlist platform to sell tokens?

Medha | CTO Non-asker of coin

Speaking for The Casper Association — Because CoinList is the best platform for this! They select only the best projects!

Projects that list on CoinList perform very well afterwards. We wanted to give the community the best chance!

We are very grateful that the CoinList sale is doing so well! We have over 100K registrants! The largest in CoinList history. Thank you!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

so i guess It is very difficult to join the sale haha

many people want to buy :D

Bruce Leo(Won’t DM You First)

yes, casperlabs is a project of global concern, breaking the coinlist record

Medha | CTO Non-asker of coin

Speaking for The Casper Association — the allocation was increased by almost 50% and caps were adjusted down, so more people can participate. We want as many people as possible to participate.

Medha | CTO Non-asker of coin

And the tiers are very close to the validator sales that were conducted. We do this because we want to support decentralization!

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

i will try to buy a little haha

Medha | CTO Non-asker of coin

If you are developer and have not started with blockchain, and you know C/C++ our contracts are easy to get started!

Zeph | Co-Founder PolkaBridge (Never DM First)

Oh, I think amount of developers on Casper will increase day by day!!

Medha | CTO Non-asker of coin

Yes! The workflow is like it has always been for 20+ years. Develop contracts in an IDE, not a browser.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

more information about Casper sale, visit here https://coinlist.co/casper

Medha | CTO Non-asker of coin

😊

Medha | CTO Non-asker of coin

Build, run, test.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

so the next question

Q6 from @henrypok

DeFi, Staking and Yield Farming are hot topics right now in our Crypto Space,

My question is, did you make CasperLabs only for the short term because of these hot topics?

Do you have a long term plan for this project?

Medha | CTO Non-asker of coin

We have been building this project since November 2018. I have been working on CBC Casper research for almost 3.5 years now (Since 2017).

We have very long term plans for the project. We built our own VM, we invested almost 1 year just in protocol research for Highway. CBC Casper is an incomplete protocol.

It is only safe, it is not live. It took us almost a year to complete the liveness proof.

Our plans to expand the adoption of blockchain technology in Enterprise is going to take a long time! They move slowly.

If we wanted fast money, we could have built a PBFT consensus protocol and used the EVM. But this would not have solved the enterprise adoption problem.

We are building real business solutions on top of the Casper protocol, like a global patent registry with IPwe. And asset tracking: https://blog.casperlabs.io/asset-tracking-on-casper-february-9-2021-community-call/

Go to our blog site at blog.casperlabs.io to learn more about the enterprise projects we are building!

I have very big plans for both CasperLabs LLC and the Casper protocol. CasperLabs AG/ LLC are for-profit companies that will provide professional services for companies and governments that are exploring blockchain and need support

We believe that this model is missing from the space. And I know how to build the products and the service organization.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes. good long-term roadmap

Kendry $PolkaBridge CM$

Its mind blowing

Really pleased

Zeph | Co-Founder PolkaBridge (Never DM First)

Found you knew exactly what you will do, great!!

Medha | CTO Non-asker of coin

Indeed. I’ve been building software products for over 20 years. 😊

Zeph | Co-Founder PolkaBridge (Never DM First)

OK, I think very many people are waiting for the next question :D

It’s so interesting

Medha | CTO Non-asker of coin

Any more questions from the community? Yes 😊

Zeph | Co-Founder PolkaBridge (Never DM First)

The 7th one is from @Bitcoinfan2020

Where can I purchase CSPR after the token sale and Are you planning any CSPR airdrops?

can I staking on my own wallet?

I wanna know too 🙈

Medha | CTO Non-asker of coin

Speaking for the Association here, we are working with Exchanges, look for announcements coming. We are not planning any airdrops. Please stake from your own wallet! Select a good validator and participate in validator selection!

A ledger integration is underway.

We are trying to get staking worklfows built by the time the token unlocks on Coinlist.

Zeph | Co-Founder PolkaBridge (Never DM First)

Your shortest answer ever Medha :D

but it’s enough

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Casper is big project. I believe many big exchanges will support your project

Medha | CTO Non-asker of coin

😊

We do not make announcements until they are finalized.

Medha | CTO Non-asker of coin

This is not hype project.

Kendry $PolkaBridge CM$

In reply to this message

I agree.

It’s well built

Zeph | Co-Founder PolkaBridge (Never DM First)

In reply to this message

No, I think it will be hype organically

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

So we move to last question for part 1

this is also important question and everyone wants to know it :D

Q8 from @thanksdefi

What are the latest features going to happen with this partnership between PolkaBridge and CasperLabs?

Medha | CTO Non-asker of coin

We are happy to support PolkaBridge integrating with Casper!

Zeph | Co-Founder PolkaBridge (Never DM First)

We are planning carefully!

Our community will be not disappointed

Zeph | Co-Founder PolkaBridge (Never DM First)

OK, I think everyone should be able to ask their own questions right now

Medha | CTO Non-asker of coin

Of course!

Zeph | Co-Founder PolkaBridge (Never DM First)

Move to Part 2️⃣: $300/10 users — Open chat for 100 seconds. You can post Max 3 questions. CasperLabs Team will select 10 questions and answer them.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes. we will open chat right now

PART 2.Questions about the project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the PolkaBridge crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 1000$.

Q — 1 from a telegram user @DefiToTheMoon

What is the team’s orientation and development plan for 2021 in the Defi region, why do you think Defi, this immature term, has a future? What results do you expect to achieve?

Medha | CTO Non-asker of coin

In reply to this message

We have some amazing features planned for DeFi! Today, governance of DeFi protocols is more supported on Casper, because we have weighted accounts — which can be used for voting- this way whales cannot just buy governance token and control protocol. Key weight must be earned by participating in governance. Plus upgrade of protocol code can be governed by a set of accounts (mutli-sign upgrades). We also have planned work to support staking by contracts, and contracts that can pay for themselves.

Q — 2 from a telegram user @Noah

While you build your project, do you take into account community feedbacks and demands?

Medha | CTO Non-asker of coin

In reply to this message

Yes 100% — you can see what happened with CoinList sale. We received feedback from the community and we responded by adding more token to the sale and lowering caps so more can participate. Even on the product, we accept feedback all the time.

Q — 3 from a telegram user @ChristopherSin

I am a crypto hacker. Do CASPER think your ecocsystem is safety with me ? Does your project have reward or something for who find the bug of your ecoReferral programs attract lot of crypto users to a project, Will CASPER launch a referral proFor any blockchain token to be truly successful it must have real utility. So what are the uses and functions of CASPER token what roles will it play in CASPER Ecosystem?gram soon ?csystem ?

Medha | CTO Non-asker of coin

In reply to this message

We have grants at devxdao.com — and we plan on offering bounties for ethical hackers who can find real issues in the protocol. We are also undergoing audit with Quantstamp of the system contracts and VM.

Q — 4 from a telegram user @Boom

In the long run, why should we trust and follow you and your project? How do you raise awareness and elimination of the doubts of investors / partners / customers?

Medha | CTO Non-asker of coin

In reply to this message

Because we keep our promises. We listen to the community feedback. We are transparent.

Q — 5 from a telegram user @KenMinh

What is the algorithm used by CASPER? What does it solve the problem of blockchain system? How do you manage the algorithm and operate it? How do you apply the users’ information?

Medha | CTO Non-asker of coin

In reply to this message

The consensus protocol is called Highway: https://github.com/CasperLabs/highway/releases/tag/v2.0.2 it has been published for peer review: https://arxiv.org/abs/2101.02159

Q — 6 from a telegram user @Yun

Creating a token is easy but to maintain stability is difficult and specifically when you don’t have a promoter so how you intend to achieve the same and how you would you protect interest of investors

Medha | CTO Non-asker of coin

In reply to this message

Speaking for the Casper Association — The CL CEO and my partner Mrinal is from Bain Capital and an ETH seed investor. He understands the market liquidity problem and token supply problems extremely well. His speciality is Capital markets, and corporate structures. He has used this experience along with his Crypto experience to set up the token model for Casper properly.

Q — 7 from a telegram user @Claudializ

What is total supply ? Are your plans to focus on market or to grow community?

What is the most ambitious goal of your project? I would appreciate it if you could share with us any Upcoming Updates?

Medha | CTO Non-asker of coin

In reply to this message

The starting (Genesis supply) is 10B tokens. Inflation is 6% per year during the first year. All validator sale tokens are locked for 90 days and will unlock over the next 90 days.

Q — 8 from a telegram user @John

Many projects only want to to sell project tokens instead of solving real world issue. What problem does your project aim to solve?

Medha | CTO Non-asker of coin

In reply to this message

We see blockchain as part of a larger application architecture, and I would like to see blockchain used in everyday applications, but further than just payments. Payments is much too basic. There are very interesting things that can be done to really help people. Examples are: Tokenizing employee performance and incentive programs, reputation , identity, etc…

Q — 9 from a telegram user @WOLFVN

Am from one of the listed countries that can’t participate in the public sale of CasperLabs ….. Does that imply there is no way I can get involved in other aspect of the project like staking,,,,,….farming and…. liquidity Minning?

Medha | CTO Non-asker of coin

In reply to this message

Visit devxdao.com and become an associate. If you participate, you can earn rewards for helping.

Q — 10 from a telegram user @Claudializ

What is total supply ? Are your plans to focus on market or to grow community?

What is the most ambitious goal of your project? I would appreciate it if you could share with us any Upcoming Updates?

Medha | CTO Non-asker of coin

Team tokens unlock over a 2 or 3 year period.

In reply to this message

The most ambitious goal we have today is to become the #1 option in Enterprise blockchain. We want to take over both Hyperledger and Corda’s market share.

Part 3 — Quiz about project

In the final part, we tested the knowledge in terms of the Casper Labs project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

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PolkaBridge

PolkaBridge

The first decentralized bridge between Polkadot platform and other blockchains