I'm a newcomer to Hive and 3Speak.tv, and when I stumbled upon the SPK Network Litepaper, it really had my attention. I immediately jumped into the SPK Network Telegram chat and started asking some questions. Immediately, someone with the handle Stakerz offered to go one-on-one with me to answer my questions. Turns out, he's one of the founders of #3speak and one of the architects behind the SPK Network. Lucky me! Here is the recording of our conversation, with the hope that my n00b questions can help others who want to learn more about "Self-Reliance and Freedom of Speech for Content Creators and Content".
Here are some links we discussed:
- https://spk.network/
- Hive Eco System:
Hive.io - https://github.com/3speaknetwork/3Speak-app
- https://peakd.com/hive-112019/@spknetwork/spk-network-milestones-and-roadmap
Thank you, @starkerz, for the great conversation.
▶️ 3Speak
Part 3:
Robert: [00:10:34] Pause and tell me again, what application is this? So I can google it really quickly.
Matt: [00:10:40] It's currently called the 3speak desktop app, but we have a little thing going on in the community to rebrand it because we want to make it very clear that it's separate to three speak and it's separate to the speaker network. All of these entities are different entities, right? They effectively three speakers, something that I run as a web app video platform, but the desktop hub that we've built is completely separate to that. It still runs on the same speaker network, but it's very different. Yes, I see that you've put the the globe up there, so we'll we'll be rebranding this at some point in the near future based on community input. We're looking for a name that kind of stands out at the moment and effectively you can run that and we've had several times where the web app has gone down. You know, these apps go down all the time for various reasons. It's part of the joys of my life at the moment. But the three speak desktop app, as it's currently named, stays up because it runs on your local computer. And when you press play on someone's video, it stores that video to your local IPFS node, which is automatically set up in the background via the app. So what it means is now we have a way to ensure that people can can upload videos to the ecosystem, use each other's servers and each other's IPFS nodes to store the video content that's on that network and incentivize and reward it at the same time. While even in the cases where our web app has gone down, it still doesn't rely on any of that tech. It's all separate and stands alone on the on the user's computer night. And then on top of that, it's open source search so it can be copied and it replicated by anyone that wants to use it and repurpose it for their own means. So this means that now we really do have a video standard built on a system that's distributed that is incentivized. And if we disappear, it doesn't matter. That thing carries on running. So this is what we're trying to do to try to really distribute and that's really the foundation of Web three, in our view. You know, the idea that this can all be done peer-to-peer. It stands alone. It's all Open-Source. People can copy it and it's incentivized. That's the difference with a lot of these are the systems that they're not incentivized yet. And part of the speed network capability will be to help these other systems implement three speed, sorry, not three speed, implement web three tools so that they can also very easily integrate Web three and kind of operate autonomously without and therefore kind of develop a minimum risk of ever being shut down again or targeted or centralized, you know? So let me let me
Robert: [00:13:12] Let me see if I can give at least part of that back to you. To that, I've I've understood what was just said. So the the the very big problems of storing, streaming, searching and validating these assets is it's a hard problem to solve with incentivization in a decentralized way. So what you've what you've conceived of is a layer that takes care of the storage, the permanent storage potential CD and retrieval with incentivization with tokenomics. But you've also built the app in such a way. The desktop app currently, and I imagine you're probably looking at IPFS js to do a browser version of this. Maybe I don't know where the IPFS layer is acting as kind of the distributed buffer for that. So my understanding is that IPFS would provide better access for anybody accessing popular content. It would provide distributed copies, but it doesn't provide the guarantee of permanence. And therefore you put in this incentivized layer into the into the kind of the mining layer right to guarantee the permanence and the retrieval and the CDN aspect is there as well. Yes. Questions, though. Yes, it's great. That means I understood at least partly
Matt: [00:14:39] You more or less that there's a couple of nuances too, but we can talk about those
Robert: [00:14:41] Later. I'm really curious since my personal interest for all of us, as has stemmed from the permanent storage aspect why? Where or why not do our weave and file coin fit into that?
Matt: [00:14:58] Yeah, I mean. Those are great technologies, we drew a lot of the basis of what we're doing on the speaking at work from from those technologies. One of one of the issues is that the Hive blockchain is really, really very well built for social media. Ethereum struggles there a little bit, and I think there's a lot of risk there to run a social media ecosystem on Ethereum. You could argue some of the other side chains on Ethereum potentially solve that issue, but we will be integrating those as well. We're not kind of monogamous to hive we want. We fully appreciate that it's going to be a multichain world that we want to integrate blockchains. All we've really done a great job at full incentivization for guaranteed permanent storage. What is guaranteed is you can make it, you know.
Matt: [00:15:45] But the problem with that is that it's very, very expensive. So you really only want to use that system for something that you absolutely want permanently there. And while we recognize that that's got a massive utility for us, there's a range of different types of storage that you need to cater to. Most videos are cat videos, you know, ultimately, people don't want to have to pay to store those things long term.
Wow Nice work with the vídeo and with the text ^ very Nice idea, i'm spanish speaker and for me is more easy to read and write English so this text helps me a looot for understand all the interview and the concepts. Amazing
I'm glad it is valuable to you! It took 12 comments to get the whole transcript :P I somehow thought there would be one field where I could easily copy and paste 77,000 characters of text and push "Save". I also learned that RC is a thing and that I need more of it!
Wow. A Lot of comments. Yes cause was a Long interview, i'm Podcaster and we make a Community leaders here in Hive / 3speaks but in spanish Community every monday but I was thinking to make the same but with english translation but is very hard work and we have another 3 diferents music vídeo shows in our own Community, but maybe You can add the writing text in the same post. Maybe.
All the Best for You and if You wanna take a look about our work let me know here in our discord and in My blog :)
https://discord.com/invite/xenWUzt
Blessings
Part 7:
Robert: [00:27:56] What's the service infrastructure pool?
Matt: [00:27:58] Service infrastructure pool (SIP)? Ok, so yeah, you're right. You're right, it gets deep. So there's I'm assuming your followers may be familiar with DeFi and DeFi pools, but just off the top of my head, that is a pool of cryptocurrency that provides liquidity to trades. And then those trades occur within the pool. Everyone can stake money into that pool and everyone can withdraw money from that pool and the people executing the trades into that pool. They pay a small fee that then goes to the people who have stakes so as effectively like becoming the bank in the trading world. And so these DeFi pools have grown up all over the place, and that's a very basic idea of what I DeFi because it gets much more advanced than that and there's lots of different types now.
Robert: [00:28:45] So basically, if I if I believe in your concept and I either hold Hive or I'm not even sure yet some token or I acquire some token through exchanging it through bitcoin or fiat or whatever, I can stake it into this pool. And this pool is what guarantees that there are people with computers doing the work.
Matt: [00:29:09] Yes, yes. No, you're right. You're right. That's that's partly what it is. Effectively, we've taken the concept of a DeFi pool and it's still the same technology. But whereas all the stakers get paid out, all of the fees in this case, what we're doing is we're coming up with a way for the community or the chain or the protocol to provide a service to people i.e. distributed distributed infrastructure for content. People want to pay for that. Some people want to make sure that they can have access to that technology. So instead of paying directly to the service providers, it peers in the network, which part of it will be a direct payment. But the other part of it will go into the sip into the DeFi pool, which is called, we call it, service infrastructure pool. And this will become clear why we call it this in a second. So those payments go in. But because you're paying the protocol, then they never need to come out of the pool. It's like you're paying the protocol and you know, you're receiving the service. So for example, the first thing that we're doing is you pay in and you receive money tokens from the chain. You receive new money tokens from the chain, which then you can stake in the mine with. What it does is it creates what we hope will be a continuous flow of money into the pool that never leaves the call. So you'll have an ever growing liquidity pool backing the project and the fees that then generate some of those fees will get paid to the people staking the people who stake in and stage just like a normal DeFi pool. But some of the other fees will get paid to the service infrastructure providers or into the die to fund what projects that the community is doing. So effectively, what you're doing is you're taking some of the energy that's going into the system, directing it into the DAO. Sorry, directing it into the service infrastructure pool that then grows continuously because it never comes out. And then those fees are used to fund the service infrastructure providers to fund projects that are going on within the ecosystem.
Matt: [00:30:58] And so it's a more it's a bit like putting a turbocharger on on a on a on a combustion engine. It's like instead of just having a DeFi called at stake to get state money from everyone who earns fees, you directly some of those fees back into the projects, which should create a cascading kind of circular value that gets reinvested into the ecosystem autonomously and based on community votes. So as the members of the community vote where that money is going to go, that's where the money will get distributed. Again, we want to have zero say in that just whatever tokens we end up accumulating from mining with everyone else, we will have that say. So it's just the kind of new concept because at the moment, the world is going crazy about DeFi and how to make money off DeFi. Whereas what we've realized is instead of making money off DeFi, you can reinvest that and create a backbone for your projects. And here's the other beauty of this I don't know if I'm getting a little bit too far down the rabbit hole. Not great. We'll have a cat governance token, which is what the Speek token will be. Basically, you earn it for taking part in the mining in the network, which is being an infrastructure provider mostly. And that will be a cat governance token issued slowly over time, like bitcoin. So it will have a cap eventually and it will kind of stop being issued. What that does is it gives us time to slowly but surely accumulate payments into the service infrastructure pool so that it grows to a certain point whereby the fees coming out of that pool because it will be such a big liquid pool, maybe after three or four or five years, know, hopefully it will allow enough fees to be generated such that the project can now start to self-sustaining without having to worry about external investors or whether the governance token performs or not. The idea is you're supplementing the initial reward distribution with a cat governance token so that people are still getting paid some value, while at the same time you kind of Trojan horse in this big DeFi pool in to a certain point where after a couple of years, hopefully there'll be enough staked in there and enough accumulated payments into that pool that it's sustains the project or at least creates a good chunk of the cost of the project that the service infrastructure providers are going to need.
Matt: [00:33:06] And then, you know, hopefully by that time, the cap kind of starts to get rich in the governance token. It's now distributed to the value providers of the network, and you never had to ask for money. You never had to ask for external money to to to put you into debt effectively. You know, if you talk about seed round funding, these are all effectively debts that you have to, you know, the initial investors will want to cash out to the community that's buying the token at a later phase. Well, that's this idea allows you to start thinking about avoiding that completely as a startup, and we hope it will be a kind of new way that startups will look at funding themselves in the future with cap governance tokens combined with a DeFi pool that distributes payments out to the service infrastructure providers of the network, basically.
Part 4:
Robert: [00:16:08] Those are the ones we really want, though, right? We really, really want those to stick around forever.
Matt: [00:16:15] Well, see, this is this is where, you know, I need to speak to guys like you because my view on that is very different and I need to cater to those views, for sure. So, yeah, component cat videos will write that down somewhere. But yeah, I mean, ultimately, yeah, I probably shouldn't say cat videos specifically, but there's certain videos that people don't want to store permanently, and they don't really want to pay for that certain things that people do want to pay for for long term storage. And so we've just built a system that kind of caters to both of those where wherein, for example, you use the user or your community may decide they want to put up some stake to store that content permanently, they might decide that this is a video that you did or a piece of content or music or whatever it is that you did. And they just go, Holy shit, this needs to be going on permanently. You may not have that view. Someone else might stake their tokens and say, Look, this is the long term storage cost. This is what I'm willing to stake. And then it pays out over a certain period of time. At certain point, the community may decide, Well, you know what, the currency in which that happens may spike for whatever reason or may increase in value over time. And then it might be a case of what I can actually cash the cashless in that and remove the storage capability cash in the tokens that were back in that long term storage and then roll storage over to re to redo it again. So basically, you keep the permanent storage, but you just do in a new transaction. It's kind of like, I don't know if your audience know, but like rolling a futures contracts or rolling a bond.
Robert: [00:17:40] It sounds like remortgaging your house.
Matt: [00:17:41] So remortgaging. Yeah, you can see that the value that stored within your content can now be taken out, and then you can remortgage that to have the same service of storage for long for the long term
Robert: [00:17:51] Remortgaging from the bank's point of view.
Matt: [00:17:54] Yes, except you're the bank, right? This is this is the thing. This is the beauty of Web3. It could out all these middlemen. And so. So we're building that. That's not available as of yet, but it's certainly something we're building in. And then and then most people will be fully appreciate that look low to the system won't really even need any permanent storage at all. And maybe there's a certain amount of storage that we can guarantee that we're willing to put up. And maybe there's a certain amount of storage that the community itself can self host. And this is the other thing that we're building in most storage we believe will be done as self-hosted. It will be between you and your community and you guys will sell post. All we're providing is, I say, we all the Speek network will provide is the tools to do that. So you don't have to go build it all yourself and then the ability to integrate that into your platform. And so some, some of your things will be long term storage from naive point of view that might be quite expensive, that you want to keep it permanently. Some of the things might be medium term things that you're looking to rotate in and out of as you see, the price of the storage is opportune to roll. And then some of the things will be short term that you're not really interested in storing permanently at all and don't really want to put any money behind to incentivize that incentivize that. So that's what we're trying to cater to on this speaker network. All right.
Robert: [00:19:10] Who's involved with this project?
Matt: [00:19:12] Well, really, it's a it's a Hive owned project where the Hive community we recognize have been distributing the token for five years. It's a very well decentralized. We think the maximum stakeholders got about one point five percent of the supply 1.7, maybe. And then there's a few of the guys that are pretty big, but it just tapers off very quickly after that. And so there's not like one guy that controls the whole network. There's no company behind it. There's no pre premium, there's no vested interest. So we we recognize that it basically what we'll do is we'll drop the miner token that you have to stake in order to mine the governance token to this community and then give people the option to sell the miner token if they don't want it or accumulate more if they're intending to mine in the network and then start at zero from the governance token so everyone can mine on a fair basis
Part 5:
Robert: [00:20:03] Sorry, do I understand then that this is kind of it's replacing something that's already the minor token, it's replacing that from the Hive network currently and in the future that won't exist.
Matt: [00:20:16] The Hive network will carry on as it is that's that will specialize more in tax base than the account management side of things. As far as I'm aware, you know, the Hive community may decide to change it, but the speed network will basically allow you to have a governance token within the, let's say, incentivized storage layer and then content delivery layer, which isn't just text. We can't do sex as well, but we'll with this network especially being able to use IPFS, we'll be able to use video. We'll be able to store NFTs and distribute the stories and images on NFTs images and thumbnails, of course, sound bytes and even text as well, although that with the hope within the Hive community that will remain on Hive for now. And that's kind of where it takes it to so far with the technology. But again, that's all possible to change in the future as technology changes. But for now, that's what it does. But effectively, when we when I say we, I mean, we we're a couple of guys that came up with a vision for this. About a year ago, we realized the free speech issue was going on two and a half years ago, and we built three speaker TV and then we realized we've got to get rid of us from three speaker TV to make it bulletproof, right? Ultimately, we arrested a community if if these videos are on our servers. And so we need to come up with a way to to incentivize the distribution of those peer to peer. Not while those kind of key infrastructures, the storage, the content delivery, the encoding. How do you make those peer-to-peer and then spread it through the community so that people can do it for each other instead of relying on us? And so that's really where the speed network came from. And then we've got a few of the guys around us who really are great, great developers that know what we're talking about. They've understood it well. We've laid out all the documentation, the ideas. This thing is now being built. And then on top of that, the Hive community, we put a proposal together recently and the Hive community is funded that so that we know we can get at least 70 percent of the main stuff built.
Matt: [00:22:09] Now we're at that point. Of course, we'll ask for more funding later if we do well and perform well and things going well later. So I have communities using some of the funding mechanisms that it has, which which again are not centralized. It's all decentralized funding mechanisms and allowing us to distribute those funds to developers who are going to build the project. And so when I say own, when I say we, I mean, we are not an entity, there is no kind of company behind this. It's a distributed community, all working together and self-funding. There is no debt involved. There's no vested interest involved. And so we the kind of role we are building this, building this out at the moment, you know, and it's really exciting
Robert: [00:22:50] Because it sounds like if you follow the money, then it's actually the hive community.
Matt: [00:22:53] Yes. Yes, it's the Hive community that would, let's say, own it at the hive community is it's open so anyone can be a hive holder. Anyone can go post content to hive and own and hive tokens. So I mean, I personally know of great content created, but I invested some of the tokens early on. But the guys have earned all of their tokens from scratch, just from from posting content. So yeah, that's and that's the beauty of this, is that this is decentralized anyway. You can you can drop tokens too and be fairly sure that you're not just dropping tokens to one guy who holds 20 percent of the token, you know, so you have. And the reason for this, mostly in my mind, is because we need to make sure that we are decentralizing. And the more decentralized layers that you have, the more difficult it is for authorities to approach those layers and say, Hey, do this, do that? Because essentially there is no entity behind them, there's no entity to approach. And so if you want to protect your, I say your work to me, we're building this for free. We've invested a lot of our time, money and energy into it, and we're giving it away for free. We believe that this has to be given away for free and then we believe that we have to mine this on an equal basis with everyone else in the same way that Satoshi did, right? This is this is the difference between what we're building and a lot of the other tokens in the top 50. A lot of them gave themselves five, 10, 15 percent of the tokens. It's just it's just wrong because now they're going to have to sell those tokens to their community. So it's like they're dumping on the communities, you know, and that's not decentralized. Ultimately, that is relatable and it's corruptible. So we believe firmly in giving this stuff away for free and in the spirit of what's associated with bitcoin. And the other beauty of this is that there's now because of the way the technology is moved. There's there's there's very interesting ways to support some of the dev teams. So for example, you can drop a token and then you can leave a DAO on the side, which is a decentralized autonomous organization, which is effectively a pool of money that the community votes on proposals.
Part 6:
Matt: [00:24:52] And then if the proposal is passed, they distribute the money to whoever put proposal in. So it's what we've just done on Hive. Hive is funding this. This mechanism with its own down the speed network will also have a Dow. And then what could happen is that the the community might vote to to distribute currency to certain engineering teams who are helping to provide value to the speed network. And in that way, we can fund when I say we, I mean the railway, not we personally know the community can fund dev teams for this stuff. And so it's just it's super cool because it's a completely different mindset on the way things have been done in the past, even up to the point of the, you know, the 2017 Ethiopian, wherever I was trying to put five percent in the tokens to fund their projects and then sometimes they go missing, sometimes they don't, which has got lots of conflicts of interest in it. Whereas if you can fund things in these decentralized ways, using DAOs, it's it's just a beautiful new world, you know? So we like to say, do you even dobro? That's one of our things that we're trying to dobro, you know, because if you're not daring, what are you doing? What are you doing in crypto, you know? So yeah, that's kind of some of the philosophy behind it.
Robert: [00:26:00] So let's get into the technical details. So I've been looking through this light paper and there are all sorts of papers in the in the decentralized crypto world. There are white papers, there are pink papers, they're orange papers, they're light papers. There are. Who knows what, but this one is a light paper. It's it's a fairly mind boggling read because as I, as I mentioned on the Telegram chat, you don't even get a paragraph in before you're confronted with about 15 terms that normal people like me don't know. So let's go through some of those.
Matt: [00:26:31] So I just want to stop you that it's really difficult to do this because we aren't. We are living in our own world now. You know, it's like we've gone so far down the rabbit hole in researching this stuff for so many years that there's things that we say, but we tried to refine that paper over and over and over again to get it to a point where normal people can understand it. And we we like to think we've got that. But obviously you never know until someone kind of says to you, Hey, what's this mean? You're like, Oh crap, this is the third line into the paper and you're close.
Robert: [00:26:59] You're close. And granted, I was like one day into my discovery of this. So like, there's a lot I don't know. But I mean, it reminds me very much of in 1999 and 2000, when I retooled from being a musician to being a computer programmer, right? I would read a paragraph with the intent of learning what it said and then have to look up three terms. And for each of those three terms to understand the definition, I would have to look up three more terms and type in, and I'd be halfway through my day and I'd still be looking up terms trying to like unfurl the stack back to the original paragraph that I was reading.
Matt: [00:27:37] Whereas from my point of view, we're writing this stuff, just taking it for granted because we've learned this stuff over several months and years, we we kind of think that we've written it for for the normal Joe, but actually it's probably 50 50. It's probably like somewhere in between, you know, there's a gray area, so well, I guess we need to write a pink paper at some point.
Part 9:
Robert: [00:41:00] Because the workloads it's going to be doing are actual normal computing workloads, not just integer crunching.
Matt: [00:41:08] Yes. Correct. Correct. So it's it's this it's kind of a proof of work. I don't even know if there's a name for this yet, and I think we might need to name it separately. But it's kind of a proof of work that's happening on this mining system because what you're doing basically is you're for the storage, which is where most of the rewards will go. As far as we can see, it's effectively it selects at random based on block height of the current upload list. And that upload list is stored on the Hive blockchain because it's great for storing text. So we don't need to run our own blockchain. But the reward system we have a set of nodes called Sones on the peer plays blockchain and they are tracking. They're basically oracles and they're tracking these videos as they're being uploaded and working out which nodes have got them, and then selecting some at random to go do a proof of access request. And then the nodes will have their own system in built autonomously. That then provides the data to the requested to the requesting node. And if that node then says yes, OK, he provided the correct data that will get logged in the system and then that will get paid out. So it doesn't necessarily mean that just because you've got a big server, you're going to get more rewards. But the theory is that if the system is randomly selecting different nodes and then direct and rewards to those nodes based on a proof of access proof in theory, if you've got more of the network on your node, you'll get more requests and therefore you'll get more payouts, you know, and as long as the system's random, then which which it will be, then that should be what happens over a long period of numbers. You know, a lot of examples.
Robert: [00:42:43] Amazing. If you're going to if it's going to replace YouTube, it's going to have to be a lot of servers.
Matt: [00:42:49] Yeah, exactly. Well, one of the things that we're a little bit worried about because we're kind of we run this video platform already. We've got a lot of our infrastructure set up, but it's a relatively small ecosystem, and all it will take is for one of the larger all tech platforms to plug into this and start uploading their videos to the system to make our seemingly currently large set of videos much smaller than it currently is, and will then have to scramble to start storing the videos that they're uploading and incentivizing into our systems so that it kind of spreads. And then we have we again maximize our chances for for getting proof of access rewards based on the amount that we're storing. So that's going to be an interesting time when that bridge comes across. We're hoping to get someone to take part in the network before we even have it running. So that when we hit the ground running, we already have one of these platforms in on day one.
Robert: [00:43:39] It sounds like you want to get the attention of the Chinese companies who have just invested hundreds of millions in file cornstalks, file coin storage who have petabytes of unused storage because all of the Filecoin storage on Earth hasn't filled up the capacity that's been built for it.
Matt: [00:43:58] This is an interesting use case. I haven't looked into much yet, but I believe that it's possible. So file coin file coin, as far as we research, is kind of like having a a web based storage operating system on your on the blockchain, so it doesn't necessarily work directly. It could work, but it doesn't work specifically for the application we're using it for, which is social media and call and requesting social media files. But for proof of access storage, Falcon might be quite an interesting application. So if you've got a shit ton of petabytes free on file and you're your incentive incentivizing that node in some way and you have this state, this this storage free, then I'm assuming that we'll be able to you would be able to then store a load of Speake Network videos on that system. And you pointed to the nodes and show it if there's any proof of access request required. This is where you're got to go and that should that should work. Whether it works straight away, I don't know yet. This is we're still in the building phase, so. This specific system, but for me, I'm looking to maximize everything that this network can do, so we'll certainly be putting some time and effort into integrating that type of system there, for sure. Well, the
Robert: [00:45:09] Glue that binds it all is ipaffs. So all of these permanent storage paradigms all have an IPFS bridge, as far as I've seen so far. So betting on IPFS right now seems like the safest thing.
Part 8:
Robert: [00:33:50] Amazing. So right after the SIP paragraph comes the the first anatomical token.
Matt: [00:34:00] Very good. You've noticed this front. It's yeah, we always like to name things you know, in this crypto world. Most, most things in the crypto world are named after Norse gods, from what we can tell. So we thought we'd go for anatomical items that support the voice for these tokens. And that's all there was to it, really. So the minus tokens are minor tokens, which means what we've effectively tried to do. Where is in bitcoin? You have a physical mining rig, so you go out, you buy your mining rig and plug it into the bitcoin network. It supports the network and you receive some bitcoins every whenever you whenever you hit the hit the nonce right. With this, instead of having physical miner rigs, you have your own servers or your own computer hard drives, and you'll have to stake a mining token that effectively acts as a digital rig and you get those tokens mostly by paying into the sip. If you let's say that day, there's 10 tokens available and you pay $5 into the sip and someone else pays $1000 into the sip, they're going to get the majority of those tokens that day because you didn't put as much into them. But basically, once you've got the tokens, you stake them and if you've got the latest tokens. So in the same way that a mining rig is issued from a factory and every year or so they improve the performance of the mining rig. So there's a certain point where you need to update your mining rigs in the physical world to mine bitcoin. It's the same here will mimic that relative efficiency by effectively depreciating the value of the current miner, not the value depreciating the mining efficiency of the current mining rigs. Mining tokens and every year will issue a new updated miner token. That means no, there's a demand. So the idea is it flows the demand of money into the SIPP as people want to update their tokens, the mining tokens to the most efficient current tokens so that effectively it's just an incentivized way to make sure there's liquidity flowing into the city permanently. That's one one reason for them.
Robert: [00:36:07] What's the relationship between the larynx minor token and actual hardware doing the the storage and retrieval and everything of the content itself?
Matt: [00:36:20] I mean, basically, if you've got a really massive set of hardware behind you or big, you know, web cloud based servers, whatever it is that you're using, you'll of course, be able to process more content and store more content and deliver more content. So in theory, if it's just you and a guy on his computer, you would overwhelm that person because you've got much, much more serious mining system. That's still the case. But with the mining tokens, if he's got loads and loads of mining tokens and you're only staking one miner token, then he still won't earn as much as you, of course. But he will relatively earn more because he's he's more vested into the miner system than what you are. The other thing that happens there is I'd like to look at more from the point of view. If you've got two guys that are kind of equal technically, so you've got an equal infrastructure for support in the network, and one guy's got a thousand minor tokens staked and the other guy's got 100 miner token token status. The guy with the thousand mining tokens will probably earn somewhere in the region of about 15 percent more rewards from the system than what the guy with almost no tokens states. It's really just, you know, partly it's skin in the game. It's like, are you a serious person here? Are you actually staking for the long term? Are you actually putting some money into this and then kind of portraying yourself as a behaving as a serious vested person's this network? Or are you just here to stake a couple of mining tokens for a few days and leave and try to earn as many rewards as possible, which in theory, this system should help remove that behavior from from the system?
Robert: [00:37:52] Ok. And so then if I'm coming at this from like I've been a bitcoin miner all my life and I've got some hardware and I've got networking set up and I'm thinking, Hmm, do I want to mine in this new system? How how should I be thinking about the hardware network and staker token mining token relationship is I'm I'm a little confused as to what the what the target hardware is. I mean are, is any of this mining going to be going on on people's laptops? You mentioned cloud computing, but cloud computing is usually not suitable for actual like proof of work mining. You get shut down. Would I actually be able to do a digital ocean drop to participate?
Matt: [00:38:44] Most likely, yeah. I think that's where this is going to go. So basically, we want we want it to cater for everyone. So all of this will happen on the back end of the desktop app. So there'll be a section of desktop app, it'll either route you. We don't know for sure yet, but it'll either route you to a location on the internet where you can download this stuff, or it will actually have the nodes embedded inside the desktop app itself. So you can go there and you can you can download the node package that will allow you access to the storage node package, the encoder node package, the content delivery node package and the validation node package, right? And then you'll be able to basically auto run those on your local computer at the same time, when you press play on the desktop app, you you're in the background of the desktop app. There is an IPFS node that's running from your computer and it automatically any video that you watch. It gets stored to your APFS node. So now you effectively just by having that alone, you've effectively become a miner in the network because you are storing someone else's video. If that video is incentivized, then the network will have a way to distribute rewards to you for being for storing that video and that that basically applies to people on their local computers. If you've got a really big local computer, then you can separately have a storage node set up that you. Points to your local computer's hard drive, and you can show how many videos you've got. And it does what's called a proof of access algorithm, which is very similar to the weave model to prove that YouTube, to request and then prove that you have that video that you say you're storing at random once every few weeks or months, hopefully. And then on top of that, you've got people who've got physical services. So this is what we saw on three speak. We already have like a physical server. We have web servers and we we do some of the storage on those and we really want any of the video platform that is already doing this work anyway on its centralized system to be able to plug into this network and keep basically doing the same thing it was doing before. But now it's now it's appear in the network, so it's able to leverage the IPF network and earn rewards from effectively what it was doing before. And so, yeah, I mean, ultimately, as far as I'm aware and I'm not the technical wizard on this, but as far as I'm aware you can use a web server, you can use a cloud server, you can use a physical server to store these videos and also your local computer
Part 10:
Matt: [00:45:24] Yeah, yeah, we think so. The thing is that if it's there is no coin attached to it, it's it's a voluntary network. It seems to be. It's always getting better. As far as we can tell, there's no vested interest in it either. It can be run fairly autonomously. And so what we've built here is what will be the first incentivized layer for IPFS that we're aware of, at least. So that's that's really exciting and we're really super stoked about it. And we've basically proven it's possible. We're just building out the tech now. We've got the funding. It's happening over the next few months and we've we've already got the proof of what do you call it, the let's call it the minimum viable product from the the desktop app that's already running. That's that stores videos and IPFS. It links to the IPFS system. Now we just need to build in the incentivization system, which is full steam ahead at the moment. So it's exciting
Robert: [00:46:16] Times. Let's keep moving with that. What's the broker gas token?
Matt: [00:46:20] So Baraka is effectively the main purpose in my mind of Baraka is that it's a spam limiter. So what you don't want is you don't want people just uploading tons and tons and tons of videos to the network and then flooding it with a load of crap that they get to upload for free and access the network for free because it clogs it up and doesn't make it very efficient.
Robert: [00:46:39] And YouTube has to deal with that problem. They basically put no limits on what people can do as long as it's legal in their community services, and they they generously basically have stored all of the crap since YouTube's inception for free forever.
Matt: [00:46:56] Yeah, yeah. Which, which is one of the reasons that YouTube wasn't viable for a long time. I don't even know if it is anymore, but I know that it wasn't making very much money for a long, long time. And that type of thing in the in the startup open source world is incredibly hard to do. It's one of the reasons that YouTube has been so successful because they've had this kind of private funding, unlimited funding. They seem to have been able to get hold of, but that's not the way it works in the decentralized world. So what you need to do on these blockchains, these blockchain accounts and the content that gets pushed through them is valuable. And if you're able to just upload thousands of pieces of content today, you can effectively gain the network you can over time. Even if people avoid your content, they'll be still be people that give you upvotes and kind of allow you to milk the network without without them even realizing what you're doing, you know. And we've seen this on Hive. So one of the things that Hive did and I'll do the hive kind of initial thing, and then it'll help you understand Brucker a little bit more. So what Hive does is it says if you have Hive tokens, you can power them up, which is effectively like staking them, which locks them in for 12 weeks. And that gives you hive power, an equivalent hive power balance because you're locked in and invest in the network, it will then the network will automatically give you resource credits and every day, based on how much hive power you've got, you've got a certain number of resource credits which allows you to post comments and content and interact with the chain. Basically, you don't. You only need like five Hive to get enough resource credits to allow you to basically do what any other social media users does on any other chain. And you can get five hive within basically one vote from a reasonable sized user on the network, so it's not very difficult. The other thing that that allows you to do is if you can then delegate the resource credits so you can you can. Basically, if a new user comes on with zero hive, a lot of the applications such as ours and many of the other 200 applications on the network, they have a vested interest to allow the new users to have a free feel experience.
Matt: [00:49:01] So when the new users come on, they basically delegate them. Some hive, just a very small amount that they can, they can take back. The system sets up such that the user can't run away with that hive, but you can delegate it to them for free and then they can now access the network for free without having to hold any hive of their own and slowly accumulate hive over time so that they can then act interact without having relying on your delegation. Most of this happens behind the scenes, and no one even knows it's there. It's just completely oblivious and it's a free field experience. So that's that's how you basically limit spam on these chains. And basically, if they then come on the network and start spamming like loads of comments all over the place with loads of videos or loads of blogs that are kind of irrelevant hundreds of times a day, they will run out of resource credits and the system will stop them from posting. And then as you run out of resource creators, you have to wait for 24 hours. You don't have to wait for 24 hours, but basically your full stack will regenerate after 24 hours and then you can just reuse it again. So if you've got like 15 or so, you're fine, right, but still the whales have got millions of hive, and those guys often help the platforms with their delegations and things like this, right? So resource credits is fairly rudimentary. It was done quite early on, kind of four or five years ago on the steam network. And it's really cool because you can delegate some of those power across to users. But apart from that, they're not. The resource credits aren't liquid. They're locked in the individual users accounts. So what we've done with Brucker and effectively you could say that's like a gas token on Ethereum. It's the same mentality, you know, to stop you from spamming, you've got to pay for transactions. You do it kind of behind the scenes and unknown because basically all the system does is it as you transmit Ethereum, it takes a little bit of that and use it as a gas fee to pay the miners.
Matt: [00:50:43] It's a very similar principle with high resource credits, except that they're kind of locked into your account and there are different currency than gas. So what Brucker really is, it's a gas token on the Speek network that it auto regenerates every day. So if you have Speake governance tokens and you stake them into the network, you will receive bracket gas tokens every day until you reach your limit based on the amount of speak that you've got capped. Then, as you interact with the network, you'll provide some bracket gas token to the infrastructure providers. So to the video storage people, to the content delivery guys, people running nodes, you'll give them an incentive to process that transaction for you, basically. And so that's what Bracket does accept. The difference between black and resource credits is that bracket are liquid tokens that you will be able to send freely to whoever you like whenever you like. That's basically the principle of bracket bracket gas.
Part 11:
Robert: [00:51:40] So then we come to then, of course, the kind of moving up the chain, right with the Speek token.
Matt: [00:51:47] Yeah, yeah. So the speak token is it's actually quite simple. What this does, it might sound quite complicated because of several tokens to the network, but as of just a normal user uses the network, they won't really even notice hardly any of this going on in the background, right? Especially the new users that come the applications themselves are incentivized to provide the free field experience for the users so that users don't even know what's going on. In the same way that when you use the internet, the applications themselves are incentivized to run the service for you, right? So it's that type of mentality. But the users will be more familiar with tokens because they will see them a little bit a little bit more. They're kind of the important tokens on the network. And what the tokens are, they are capped. So the previous tokens that we talked about, the minor tokens are capped based on. I think it's a 10 percent inflation every year based on the Speek tokens that are available. So there's like a limit to them there, but they're very liquid. The bracket tokens are even more liquid and they're kind of regenerating again based on a 10 percent cap. You know, I've forgotten some of the details it's in. It's in the light paper. You'll find out if you read it, but there's kind of a cap control there, but they're all very liquid tokens. They're very freely available and you can serve them very easily with speak that is a capped a cat governance token. And the idea is that what we will do with the network on the speed network is there's something like around about 100 variables in the system. So for example, if you send bracket rewards, how much of that goes to the infrastructure providers, how much that goes to the CIP if you pay money into the CIP to receive money tokens? How much of that is staked into hive liquidity pool? How much of that is staked into the speaker liquidity pool? How much that is baked into the Brucker liquidity pool and so on with the with the speed tokens there, the cat governance token. So as i mentioned before, you've got all these variables on the system.
Matt: [00:53:44] And so the system can allow the community to control the variables based on how much stake of the brac of the token. They have the most token you have, the more control you have over what percentage of the tokens distributed to the various different people within the network and also where the, you know, where does the network go towards, where does it steer? And this is important for us because we need to provide these governance options to the community so that we don't have control, right? It's a lot of the decentralized community or so-called decentralized communities out there. Their founders retain 20 percent of the token. So if it will go down in a hand basket, they can step in. The problem with that is that they, you know, a lot of them say, Oh, we'll decentralize. Eventually, we've got plans to decentralize. It's like, you're not going to decentralize it. I mean, how many of these people are ever going to give away control of the networks that they build, especially if those networks become very, very powerful. So it's very unlikely to happen. That's not the way the bitcoin was produced because producers are free, open sourcing. The founder mined tokens, but he never put them in his own pocket and never sold them on the community. So that's kind of the way we're looking at. Speak governance token, it's like, can we distribute this token to the value providers of the network, i.e. to the infrastructure providers, if it's capped, it becomes valuable and scarce. And then we can allow the people that earn that token to become because they've provided the value in, they can have, say, over the governance of the network and where various variables are set within the network. And of course, the idea is that if you've got a lot of a token, it's within your interest to act in the best interest of the ecosystem. If you've put a lot of resources, energy and time into that network and then you want to go and destroy the network by voting for or setting variables in a non beneficial way, then why would you do that? You know, it doesn't make any sense. So the theory is that the people who have committed a lot to the network and providing value and infrastructure to the network will have most of the governance tokens, and those people have got a vested interest in setting those variables in the most optimal way for the community to flourish in the best way at that time possible, basically.
Robert: [00:55:57] Amazing. So this the token economics of this project are fascinating and also very much from what you're saying and what from what I've read conceived of in such a way as to be most, most mindful of the project's long term health more than anything, right?
Matt: [00:56:19] Sure. Sure. Well, it's one of the things that we're going to see in the near future is a lot of the top 50. At least they're going to start getting perceived by the SEC because there is a weakness there in a lot of them have a lot of the token in their own accounts already. So as a result, there can be ultimatums provided, you know, you do this. Otherwise we're showing you down or you do this, otherwise we're going to take it to court or et cetera, et cetera. And a lot of the projects supposed to come to that. The worst ones are going to be the projects that don't come with that publicly and end up doing deals behind the scenes and then carrying on operating while everyone thinks they're on some free, open network. In reality, it's not. And you can see that. I mean, I'm not going to name any names, but most of the top 50 have got these issues and they're going to get regulated and you can see the SEC this recent crypto law that's been provided. Sorry, proposed by the ctf seats. See, I think minimal in the USA. It's very, very restrictive. You know, it's based on, you know, it works based on the idea that a lot of these DeFi protocols, a lot of the top coins, they've got centralized elements to them that the authorities can go after to regulate. Whereas if you're trying to provide a free speech network, it is, you know, it is our cardinal responsibility to make sure that that network is distributed. Entity lists no CEO, no no anything, you know, know anything that can be be a weakness to the network. And then as long as that token gets distributed very, very well, which that's kind of an organic thing, you've got to set up the conditions to allow that to happen. But we think using the Hive community as the foundation for that is is the best way to go because it's just so many people there and so so the supply so well distributed. So we think we've got the right recipe for it. And then if we can bring on a few of the other platforms, are the bigger platforms that are struggling with this stuff because all these are the platforms, they've all got to do something like integrating Web three.
Matt: [00:58:14] And we know through hard fork experience over the last four or five years on steam and Hive that running a blockchain system to do that is incredibly difficult and incredibly expensive and risky if you're just starting to do it. So a lot of these platforms, I mean, they've got capable guys, have some very, very clever guys in these places. A lot of them will try to build their own protocols, I believe for Web3, so they can effectively give account ownership to their community on a distributed layer instead of keeping the accounts under their own control, which then can be regulated. And various other things, like incorporating NFTs into the platforms, incorporating tokens, community tokens and the ability to give your community follower lists to the user. So the user owns those lists instead of you on your centralized servers as the platform. If you can start doing those things, you can really protect a lot of the platforms and move it towards a web free system that protects the users and returns a lot of value to the users instead of allowing yourself to be regulated and shut down and censored all this type of stuff. Now, a lot of these platforms are trying to do this themselves, but they're going to really going to struggle because it's not easy. It's not easy to set this. It's the first thing that's not easy. It's to stay away from the greed because human greed will. Naturally, if you've got a successful project and you've got the ability to put five percent of that token into your pocket, it's incredibly hard not to do that for most people and including myself. You know, I'm not saying I'm kind of some kind of superhuman. But for me, the values of decentralization are far more important to the to humanity than whatever amount of the token that I can put in my own pocket and the other founders. So we aren't doing that. We are not going to do that. Hopefully, some of these other guys succeeding in avoiding that pitfall. We'll see. Does it seem to be very common in blockchain these days? Let's put it that way. And so they're going to have that, they're going have to build out the protocols, are going to spend thousands, hundreds of thousands of dollars to build these things out and then some of them aren't going to work.
Matt: [01:00:06] Some of them are going to work. We're going to make mistakes, pitfalls, and it's going to take time by which time, you know, I think that a lot of the authorities will have caught up with them and try to regulate the platforms out of existence or at least limit them. So what we're trying to do with the thing work is build it in such a way that any of these platforms can just plug it in. And it's maybe two or three weeks worth of engineering work and they've got the same capabilities that we've been building in terms of both three or four years now. And that's, you know, I'm not here to make money myself. I want to preserve free speech and so does the rest of the team. And we think that that's one of the ways to do it. If we can help these platforms integrate this technology fairly easily and upgrade them to Web three so that the users have pure self ownership of their accounts, of their communities, of their token economies, about those communities and the users are not relying on a centralized system to provide them that capability. We have a true foundation for an alternative economic system that will allow people to opt out of the current system if they so choose and go use a truly decentralized. Very difficult to regulate system that is run and owned by the community that uses that system.
Robert: [01:01:14] Those are inspirational thoughts and perfect last words. If if I were ready to end right now, but I have one more important question before before we call, before we wrap it up and call it good. Could you give me and the viewers a little bit of insight into the timelines that we're talking about here with the project?
Matt: [01:01:35] Yeah, we've published a blog in the last few days on the Hive blockchain, so you can go to Hive Blog or JD.com and the speaker network. And there's a timeline. There's basically a timeline and roadmap issued there. I mean, the problem with new technology and new software is you never really know when it's going to be ready. Oh, you've got it. You've got it plenty. Hell, you're a step ahead all the time. So thanks for pointing that out. But basically with new technology, you never really know when it's going to be ready. You've got to go through testing and bug fixing and all that type of stuff. So we've built that into the timeline, whether whether we hit it or not, we don't know for sure, but we're trying our damnedest to get there. I actually straight after this call, I have the Kick-Off meeting because we just got our funding a few days ago, so we've got ourselves into a position now with the teams together. So I kick off it, I'm going to record that as well. Hopefully with less less of my reflux in my voice, but we'll record that today in the same way that you're doing. You know, I don't know how much of it's going to be live because we may we may be discussing some sensitive issues, but we're going to put as much of it live as possible so people can understand where we are. We're publicly funded by the community, so we have to be reportable to the community. And so that's going to be really interesting today. And then we're releasing 10 minutes for the NFT system, for the token system and for the, well, what is called the The Hive songs, which is basically the tube through which we're wrapping from Hive Blockchain to peer place decks exchange. So effectively, it's like wrapping Ethereum and things like that. We're going to be able to do that. It's going to be the first swap on a deep POS graphene based technology. And that's really important because was
Part 12:
Robert: [01:03:21] Amazing and I don't know what a lot of that meant.
Matt: [01:03:24] Basically, it just means that at the moment, hives, quite it's not a juggernaut, but it's quite complicated. There's a lot of politics on it. There's a lot of things that are going on. Peer plays is a much smaller chain and it's we're able to decentralize it. We've got a few more things to do there, to run a few more nodes, but we'll get that set up and they have a lot of the tech that we need built and it's the same tech base as hives graphing. So because of that, we've partnered with peer players because they can help us build a lot of the tech that we need to roll out this speed network and then we can transfer a lot of the tech into Hive without having to redo a lot of the work again. So once we've proven it works on peer plays, we expect the Hive main core team to to take a lot of that work and build it into layer one of Hive so that we have an FTZ token systems, storage systems and swap systems inside the Hive layer one layer one system, which saves everyone a load of work per placement because they get to prove that they're trying. Their main goal is to be interchange swaps, so they want to be able to go from Ethereum to graphene, from hive to into graphene, from hope to to peer plays and from bitcoin to graphene. So that would be really, really cool. So and this is the thing as well, you know, instead of us just focusing on Hive and we appreciate it's going to be a multi blockchain future. And so if we can help lift the other ships in the graphene sphere, then everyone wins, you know? So hopefully this does a little bit of that. That's all kind of kicking off. They've got a lot of that built, so they're going to testnet a lot of that over the next few days and. So we're really looking forward to people getting involved in the test nets for the kind of token economics this side of the network. And then the actual node, the thing is going to take the time is the node building. So the ability for you to run the desktop app and then on the back and the desktop app, it automatically runs a storage node if you choose a KDM node, if you choose, et cetera, et cetera, these kind of infrastructure nodes that really make a peer to peer contact network that takes the power away from YouTube.
Matt: [01:05:28] So the idea is that we're going to have to build relatively intricate ways to run those nodes on people's computers and then allow the systems songs on the peer place network to track that work and distribute tokens to them, to the users taking part in that activity fairly. So that's going to be the thing that's a little bit more intricate. We think that will take about eight months, which would we'll see, though, because, you know, to start building this stuff out, it gets a lot more clear. So we'll just keep updating people. Basically, our initial estimates right, that that might be 10 12 months. It might be six months, who knows, you know? It's a bit early, but we'll see. We'll certainly keep people updated. And the other thing that we're doing as well there is you were talking earlier about how you I think you specialize in setting up basically independent websites for people to operate their ecosystems on. Well, that's what we really want to do with this. We want to have ways of having at least open source, basic kind of front ends that people can run as skins and automatically they have the web three ecosystems built into the backend of them so that they can. They can build their own tokens, they can release their own communities, they can. They can operate peer to peer and self host and host within their members of their communities so they don't rely on any of this centralized infrastructure that so many of these sites have to rely on these days. And the other thing that will do you imagine how much of the value of content is being extracted by Zuckerberg and Dorsey through their their web platforms? It's incredible amounts, and once you can tokenized communities, some of these communities are going to be so powerful because they're going to have their own token ecosystems and economies, and they're going to be effectively printing their own money in a decentralized way. And the market caps of those currencies, let's say you've got 100000. Follow a community of millions of these communities of a million people. That's you talk about the ecosystems, the size of small countries on distributed layers that can't really be well regulated.
Matt: [01:07:34] And you know, my hope is some of that's not going to be good. There's going to be some very strange players. But you know, we have to appreciate the authorities can chase after those guys, the community will be able to do some sort of self-regulation. Maybe we can meet another time and talk about that. That's that's another layer below. There's definitely a self-regulation element to this that we need to build in instead of us being the arbiters of what is content or acceptable content. But once that's kind of solved, some of these communities are going to be so incredibly powerful. And what it means is you're going to have lots of entities growing up that kind of exist simultaneously with governments and the current ecosystem, current establishment, let's say. And it's going to dilute the power of the current establishment and allow the communities to kind of pop up around and do their own thing. I think that's going to be a great feature. I think that's that's a decentralized, a future with decentralized power and where we currently the current trajectory, the trajectory that we're on is kind of a bit scary as far as I can see these days. So I'm looking it feels like there's a light at the end of the tunnel there with this technology and whether it's what we're building or not, it's not the most important thing. The most important thing is that it happens. I like to think that the Speak network Community and hive has laid the groundwork so that people can see how this can be built. It's all open source so you can copy and paste it and replicate it. And that's also important for us to make sure we build ourselves out of of any responsibility for the system as it were. You know, we'll release the technology and let it let it be used. And the other thing is, even if we don't manage to finish building this, the instructions are in the light like paper, the ideas are out there. Conversations which are these such as these are important to have, and that's one of the reasons I wanted to speak to you. And once these ideas are in guys like your heads, I mean, I'm not saying I'm the smartest guy out there.
Matt: [01:09:24] I've definitely I'm definitely passionate about this stuff, and I've definitely been learning about it for a long time. And as a result, if we can lay a foundation that people such as yourself who clearly very bright in your area might turn around to us in a year's time and say, I've just realized that this is possible, you know, we would never even thought of in that. That's where we're going, you know, and that's the thing that's really excited about exciting me about this. There's people, people such as yourselves that are going to come up with ideas, I'm sure, and blow our minds as well. At the same time as maybe we hopefully blown your minds with some of the foundational tech we're building. Definitely. So I'm looking forward to that.
Robert: [01:09:58] And once again, huge inspirational words to end the conversation on a really positive note, which is fun. So thank you so much for the time and the passion and all of the information that you've conveyed. I now have at least five times as many questions, but a lot of great pointers on where to go to read up on it and ask questions. And I'll be interacting with community, and I'll also be releasing this video on 3speak and blogging about it on Peakd and any place that I can to start to get involved. So thank you so much for converting me into somebody who wants to be involved.
Matt: [01:10:40] That's really cool, you know? And like, I'm very neutral, as neutral as I possibly can be. My only politics is free speech. I want to make sure we preserve that and then I trust the guys such as yourselves are going to use this technology and build bigger and better things with it than we could ever do. And we're just excited to have guys like you around that. Yeah, that we can work with and maybe help bring up to speed and then maybe even surpass us as we as we as we go forward, you know.
Robert: [01:11:07] Awesome. Thank you.
I'm still listening to this and it's awesome! Thank you for sharing this, I'm part of the 3Speak team but it's always good to learn more about this from the experts.
Welcome to Hive and 3Speak.tv. If you have questions about Hive feel free to contact me.
Thank you! Like I said in the video, I'm 100% new here, but my enthusiasm for what you've built is skyrocketing. I'll spend some time today introducing myself and looking around =)
Awesome man! Thanks for taking the initiative to do this!! It's something I wanted to do when I first joined hive, I'm glad to see it was an actually good idea, and that it can work! Good for you!
Legit questions, everything went smooth as it should.
Great to have you around!
Given that you're new, your questions were on point and I would definitely watch another series if you manage to someone else on the "show".
I'd love to do more interviews. Volunteers and recommendations are welcome. I learn a ton with every conversation like this. Just write to [email protected] and we'll get going.
Welcome robertdouglass!
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Thanks, I'll try that!
Happy to be your first follower :)
Looking forward to more videos!
Wow, thank you! And I have followed back. You have an amazing channel - I'm going to go explore what you've created.
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STOPCheck out the last post from @hivebuzz:
Hello, @robertdouglass! This is @anggreklestari from the @OCD team. We saw that you already posted your first post here in Hive! Congratulations and welcome!
Well, you can explore the communities that are suitable for your content. You can read some of the communities in this post: OCD Communities Incubation Program
For tips and information as a Hive newbie, click here: newbie guide.
The important thing is Hive is a bit different from other social media platforms since you are monetizing your blog. You can't include content that you don't own without sources. For more information, check this post: Why and How People Abuse and Plagiarise.
If you have questions or concerns, you can hop into OCD's Discord server and we'll gladly answer your questions.
Have a great day!
Thanks for the welcome and the tips. I'll be sure to read up.
Hope you enjoy the Hive Journey :)
s/Stakerz/Starkerz/
I got confused by seeing a misspelling of his handle somewhere else. It's @starkerz, people =)
Here's a transcript of the conversation as well.
Part 1
Robert: [00:00:00] Hi, my name is Robert Douglas, and I'm here with "starkerz" or Matt. Nice to meet you. We are talking together for the very first time and it's 100 percent due to Matt's generosity because I jumped into the SPK Network Telegram chat and just announced myself as a complete noob. And before I knew it, I had the offer to just go one-on-one with somebody from the community to answer all my noob questions. And that's what this show is going to be about is my new questions about the SPK network, what it is, where it's going, where it came from, et cetera. But I just wanted to say, really, thank you, Matt, for giving me this time to talk to you and pick your brain and fill in the gaps in my knowledge and hopefully somebody out there watching can benefit from that as well.
Matt: [00:00:51] Hopefully. So hopefully, we saw you in in the chat and you were asking some interesting questions that seemed like you had a bit of a background and certainly passion interest in Web3. So for me, I'm very, very happy to reach out to guys that have got something kind of some kind of foreknowledge and insight into what this thing where this thing is going. And if you're a newbie as it were, if we can help speed you along that way and like you say, at the same time, you help someone else to understand a little bit more about where Web3 is going, then I'm very, very, very, very happy to have a chat with you.
Robert: [00:01:24] Amazing. So I found the SPK Network through the Hive network, which was really day one of my exploration of that as well. It was recommended to me from a friend who's blogging on it. So maybe it would be really good to just start with what is the Hive network?
Matt: [00:01:44] Yeah, OK. I mean, it's there's a long history, but to cut it really short for your viewers, essentially what Hive is, it's a foundation for Web3 where and this is just my definition of it. I'm just a user of the technology, so there might be other guys that have slightly different definitions of it. But basically the way I see it is that it's it's a system whereby you have a distributed layer. So like bitcoin is on a distributed layer and that allows you to transact value together without any middleman or any trust required. Well, Hive is a Web3 social media protocol allows you to own your social media account on a distributed layer that hasn't got a company or a mine or vested interest that control the the the distribution layer. So as a result, you've got this kind of freedom anarchistic layer upon which your social media account can sit and then other apps kind of plug into that and you're allowed to use your your accounts, which is separate from the from the applications in the platforms to log into those platforms and use them so you can move the same account between the platforms. And as a result of that, you have all of your follower lists on the blockchain, your your assets, your history, your content. It's on the blockchain. So these platforms aren't able to control your social media account in the same way that the traditional web two systems can't.
Robert: [00:03:05] Right. So I just put the URL to the Hive ecosystem up there. It's Hive.io, and there are some apps built on there that are really notable. Like, I think the peakd.com. That's a blogging system, right?
Matt: [00:03:25] Correct. Yeah, correct.
Part 2:
Robert: [00:03:27] So that's where my friend is blogging. And one of the notable things you can see there is that the the posts have like a value on them. And I read about that. It's like a potential payout value. What does that mean?
Matt: [00:03:43] So essentially, if you if you think of the bitcoin network, it rewards the miners for running physical mining rigs. So part of the Hive ecosystem is to reward bloggers for creating useful and interesting content. So the way that works is essentially on a proof of stake type distribution model, which is called proof of brain, which effectively mean means a brain has looked at your content and the different brains within the ecosystem, the different users within the ecosystem. I've got different quantities of hive, depending on how much they've been rewarded in the past, how much they personally invested things like this. So if they have a lot of hive power, which is a lot of version of Hive, they can use that hive power to vote on content that they like. And every day there's a rewards pool of new hive that's created just like there's a reward call of new bitcoin that's created and then that's distributed in bitcoin. It's distributed to the miners in Hive. Most of it is distributed to the content creators who receive the most votes, but with the most hive power, basically.
Robert: [00:04:47] So it's really a serialized, expressed meritocracy.
Matt: [00:04:54] Correct. Yes. I mean, it's not perfect, and there's many different ways to cook the cake, you know, but this is kind. This is a fight it's been going on for five years, its distribution has and we feel like we've come to what for the whole community is the most optimum solution. And yes, effectively if you're doing something that's valuable for the community and you're blogging and making content about it to let people know, bring more people in, get more people involved in the project in the kind of mini projects that you're doing, then the community will appreciate that vote and therefore distribute some funding your way via video upvotes and the inflation pool that's come from from the Hive market cap. So it's just it's a new, innovative way to distribute currency in a very decentralized way that hasn't got like one centralized party that decides where all the money goes and things like that. And it's autonomous, decentralized effectively.
Robert: [00:05:42] Now I also found 3speak.tv, which is a video platform, think YouTube, but based on the same principles where the content creators are rewarded with Hive.
Matt: [00:05:55] Correct. Correct. Right now, they're rewarded with Hive. I'm actually one of the co-founders of 3speak, so that's my video calling my video platform. It's a project that I'm heavily involved in, and it's it's mostly we kind of saw that the free speech issue was coming along the way. The content is being guided in certain ways by centralized parties can be worrisome. If you believe that free speech is a foundation of Western civilization, at least. And so we kind of saw this. We firmly believe that everyone has the right to speak no matter how much we disagree with them. And so we put this video platform in place so we could do what PCDI is doing and hive that blog is doing with blogging content, which is text based content on video. So we've set up servers and mechanisms to run video and deliver and upload video content, attach it to the Hive blockchain, and then we use their Hive state. We use our Hive state to distribute rewards to people who post on three speak. If their videos have got lots of content, lots of views, lots of interactions and they'll receive Hive rewards.
Robert: [00:06:59] Now, that's an interesting problem because the original blockchain bitcoin had no place in its blocks for content other than the transaction information, and other blockchains have minimal place on the chain for content or for arbitrary content. That's why there's a new generation of chains being built for social media purposes because they have to store that stuff that people put up there somewhere. And text is the easiest to compress as nicely. It doesn't take up much space, but when you get into images and especially video, then the question is where is that video stored and who pays for it? Because there's never such thing as free storage or free computing. So in three speak TV's case, where is the video stored and who pays for it?
Matt: [00:07:50] Right. So right now we have a centralized system for the storage of the video. Is it stored on our servers? However, we've we've moved, we've done a progression so effectively. The solution to this, this centralized issue is that fundamentally our kind of principles of free speech. Yeah, so that's kind of we let everyone post as long as they're not breaking the law or abusing people in, you know, not even that as long as they're not breaking the law, really, we let everything else go. But basically, what we want to do and what we're able to do now is transfer these responsibilities of deciding what content gets to stay on the ecosystem to the community itself instead of us being the arbiters of these decisions. And the way this is where the Speek network comes in because Hive is a blockchain is is a very decentralized chain. It's very anarchistic and not very much collaboration going on there. So it's a really great place to free speech and it does that with text because, like you said, just text is relatively easy to store. It can go on chain. So the Hive is one of the best text based storage chains in existence, and it's scales. It's perfect. It's decentralized. We're really, really happy with that side of it in terms of being able to create content and free speech ecosystems. So that's why we use it. The problem with video is you can't store video on blockchains. It's just to info intensive. It's just not. It's just not going to work. So you need to have a sidechain system that interfaces with the original chain. And that's what that's where the three where the Speek network idea came from. And so this is effectively a side system whereby we can store video on each other's servers and each of those computers and then receive incentivized rewards for doing that and not just storage, but any type of infrastructure to do with content creation. So uploading content delivery networks, storage, like I just said, then you've got obviously the validation systems that are required to validate the transactions that are happening and validate the people are actually storing what they're saying and storing. So we can we can now incentivize all of this and then the kind of nail in the coffin, let's say, which is a good thing in this case, is that.
Matt: [00:10:00] What you do is we now have a desktop app that runs directly on your desktop. Right. So three speaker TV is a web app that runs on on various web systems, and we've tried to remove the, let's say, the corrupt centralized entities from that as much as possible. But it's just it's never going to happen on web apps, but on desktop apps, it can happen. Desktop app is run locally on your computer. And so we've open source to anyone can copy it. Anyone can take it and modify it and use it for their own purposes as well. Outside of our control, it's completely open source. And so it sounds like you. Sorry.
great video (also for newcomers) :)
@tipu curate
Upvoted 👌 (Mana: 20/100) Liquid rewards.
nicely done. sometimes we forget how complicated Hive sounds to new users :D and spk tokenomics are a bit above my head. I think i will fully understand it when i will be able to click on everything.
also, by posting this video on 3speak you are a podcaster now :) all 3speak videos have RSS links so you can find this video on all Podcasting 2.0 apps and as a bonus on all of those apps there is an sats per minute watched option (so you get some sats converted to hive in your wallet :) )
That's amazing, @bil.prag. I'd love to do more interviews like this, so if you or anybody else have topics to cover, let's go!
i am just an user wanting to test everything. @brianoflondon probably has some things to share about podping and V4V
I know this is a year old, but I just now happened across this video while I was studying up on @spknetwork. Great interview! Gave you a follow. Glad you're here!