Interview with Gavin Wood: IPO can effectively constrain blockchain fraud

If you ask a coin retailer: Which blockbuster project are you most optimistic about?

The answer is eighty-nine, which will mention Polkadot.

Boca is a project that gathers a star halo before it is on the line. The public likes to use a variety of titles – "King of Chains", "Eajifang No. 1 Killer", "Web3 Trailblazer"… Among these titles, Some may be just right, and some may be beautiful words. So, how does Gavin Wood express Boca? What expectations or plans does he have for the Boca Ecology?

To this end, the Block Rhythm BlockBeats interviewed Boca, Web3 Foundation founder Gavin Wood (Chinese name Lin Jiawen), chatted about the interesting things related to Boca.

In the interview, we abandoned the problems frequently mentioned by the media in the past, as well as topics such as "How is Boca born?" and "Does Boca and Ethereum constitute competition?", I hope to give readers a question about Poca. Gain a more comprehensive understanding and broader thinking with Gavin Wood.

Core point of view:

1. The Polkadot team will provide resources to developers as much as possible, and will maintain the necessary technical communication and offline interaction.

2. IPO (Initial Parachain Offering) is more like voting, which can effectively restrain the current ICO fraud.

3. Disappointing for the biggestists and fundamentalists, most industry players are resisting these unhealthy industry ideas.

4, like the blockchain project in line with the spirit of Web 3 open, TON is worthy of attention.

5. Gavin Wood holds less than 10 token types and the investment strategy is the responsibility of the relevant fund.

Block Rhythm BlockBeats : The date of the Boka main online line is getting closer and closer. We all know that the Boca Eco team comes from all over the world. How do you achieve this kind of distributed community collaboration?

Lin Jiawen : We have been doing our best to provide developers with as many resources as possible, but objectively, Boca is not an all-encompassing team. It is impossible to target every person who uses Substrate for development. Guidance and help.

Often, we don't try to interact directly with the developer team, but we will determine at the outset that these teams are real and then communicate on some important issues. For example, development sponsorship, organization meetup, and more. Most of the time, we want to promote Boca as much as possible, so the basic resources that developers need are very important, such as Substrate's workshop (blockbusterBlocks note: technical seminar) and large-scale presentations.
At the same time, we also help provide a variety of technical resources, such as a convenient chat room dedicated to communication technology, where developers can communicate and discuss new code bases. We keep everything as public as possible, including open source Substrate code and regular disclosure of new project progress. These are some of the things that we have been providing to developers for a long time. We most hope to have new power to join, such as new developers to introduce and promote, to join the ecology of Boca for development.

Block Rhythm BlockBeats : Before and after the arrival of Boka, how many ecological projects may be synchronized, is there any relevant statistics?

Lin Jiawen : I don't know exactly about this number, because you know that in our organization (block BlockBeats Note: Web3 Foundation) there are people who specialize in communicating with the developer team. It's like I don't know how many people are using Linux systems, haha, this is exactly what Substrate is interesting, it's completely open source! Many developers may be engaged in independent development, and we don't know at all.

In its implementation phase, I didn't focus on how many people are using Substrate. I pay more attention to how to make Substrate easier to use.

Block Rhythm BlockBeats : One point we are also interested in is that Poca's first IPO (initial parachian offering) is a new way to start a project. Who originally originated from this idea?

Lin Jiawen : Well, it's the research team. It's not a simple design. I think it should be the model that the dedicated team in the foundation came up with. If I meet them, I might be able to convey your questions to them.

Block Rhythm BlockBeats : What do you think of the IPO financing method?

Lin Jiawen : This is a very detailed question. Actually, I don't know whether this mechanism will have wide applicability, but it is an interesting topic economically.

For holders of DOT tokens, they do not need to spend DOT tokens to join a project, but instead can lend the token to the project party for auction, so that the project parallel chain has a chance to get a plug. Slot, so to some extent, this is more like a "vote."

I tend to be an effective constraint on the current ICO mechanism that is prone to "fraud": in traditional ICO, you can't supervise what the project party is doing with your money, but in the Boca mechanism, the project side In fact, you will not be able to use the auction fee you borrowed, and these fees will eventually be returned to the borrower. This is the value of this mechanism, because the project side cannot simply profit from financing. They can't do anything with the cost of a mortgage auction. I think this will attract more formal and reliable teams. In the beginning, the team may conduct private placements for the organization and then conduct an IPO for the public.

I speculate that the project parties involved in the parallel chain auction will also issue their own tokens, perhaps some of the ecological needs. Because the IPO itself does not provide a token price, independent parallel chain tokens must have their own reasonable economic mechanism, rather than, as in the past, through an ICO financing, the team only needs to maintain a high currency price to do whatever it wants.

The key to IPO is to help us discover truly reliable project parties.

Block Rhythm BlockBeats : The next question is still about ecology. Aragon, a familiar DAO project, will land on Boka, but they used to belong to the Ethereum ecology. There are many opposing voices in this process. Let's call it "fundamentalism". They think that "you were born in a public chain, then you must belong to it forever." How do you think about this phenomenon? ?

Lin Jiawen : Hey … To tell the truth, it makes me a little sad (laughs). Because Ethereum was born on Bitcoin financing, if you are a fundamentalist, you should stop using all the tokens in Ethereum. This terrible tribalism is actually affecting the entire encryption world.

I hope to live in a world without narrow protectionism, not a world based on greed and inertia. The vested interests monopolize the dictatorship, just autonomously for the price of the currency, and attack each other. Fortunately, I saw most of them trying to stop this phenomenon from happening.

It is unreasonable for many people to wrap this abstract territorial consciousness with a variety of words. It is not unreasonable for some people to maintain the orthodox authority of Ethereum with such things as "safer", "lower threshold" and "decentralized". However, some people are sinister and they intentionally use false information. Create panic and raise the wrong banner to incite community sentiment.

I was impressed by the phenomenon that I was a member of Ethereum’s core development. At the time, most of the eco developers focused on developing better technologies. We didn’t have this kind of near-religious at the time. I am eager to make the world a desire to be ruled by a single global settlement currency, but now the mood seems to be that either you choose to accept the blessing of Ethereum or you will be exiled outside the ecology, which is completely scented.

I didn't feel that the developers of the Ethereum Ecology had a lot of people with this mentality, but there is indeed a strong voice in the community to promote similar theories. Such remarks are often difficult to identify easily. People talk loudly after the screen, but some words are not drunk.

What is certain is that this phenomenon does exist. I think we should abandon the ideas of “maximalism” and “fundamentalism” that are not conducive to the health of the industry.

BlockBeats: In addition, our readers are interested in some new blockchain projects, such as the Telegram Open Network, which the media believes may be the only blockchain network in the future. What is your opinion? What? Lin Jiawen : First of all, I don't think it will be a single network. If it is, then I also know that it will certainly be one of the blockchain networks. We know that all these mainstream projects have disclosed their development results, at least some of them, such as Ethereum and Boca. The research and development process of some projects is too closed, which is actually not in line with the development spirit of Web 3.

I mean, at some point, in order to maintain the legitimacy of the main network, the team may need to choose not to open source in stages. But I think that if even the research results in the development process are kept secret, I can only say: This is not very cool.

But I admit that TON's main network is very interesting, and this is everyone's consensus, they have many interesting ideas. But I heard that they will use "Fift" as a smart contract language. I am not sure if this is the case, but "Fift" is really difficult to understand (laughs).

Time will tell us how TON will respond to the main online line. Everyone knows that the TON network is architecturally ambitious, but what is certain is that their release will not be in one step. The path to implementation of TON's fragmentation systems worldwide is not yet clear. This is not the first time they have developed a project with a delivery deadline, so I think they have relevant experience and TON is one of my most concerned projects.

Block Rhythm BlockBeats : Wonderful answer.

Lin Jiawen : The problem just happened is very good!

Block Rhythm BlockBeats : Haha, let's move on to the next question, about your personal investment. We noticed that you are one of the co-founders of Blockchange Ventures. Can you talk about this topic easily?

Lin Jiawen : To be honest, my investment ability is terrible. I realized early on that I have no talent in investing in this field. The area I am good at is creation, so I often buy coins and keep them.

And in Europe, we need to file tax returns. If your cryptocurrency position is always changing, it will cause you a lot of trouble. I am bored by this set. You need a tax attorney to help you get the full page of the entire page, especially when you use multiple exchanges. So as you know, I tend to hold it for a long time until the project has a major breakthrough or proves to be a scam.

I don't invest in projects that I don't know, and I tend to invest in projects that are familiar to me behind the scenes. Once the investment is completed, I will forget it for a while and invest in other things.

Block Rhythm BlockBeats : So these are financial investments, not investments based on clear strategies?

Lin Jiawen : I think so.

Block Rhythm BlockBeats : Vitalik has previously exposed his position on Twitter. Can you reveal your position?

Lin Jiawen : Actually, I only invested in less than five tokens.

Block Rhythm BlockBeats : But we see that Blockchange Ventures' portfolios are likely to reach ten. Are these your partner's investment decisions?

Lin Jiawen : Um… There should be less than ten, but in short it is a small number. In fact, I don't like to research how to invest in making money, but I have invested in a lot of ecological funds, which allows me to make money indirectly from many projects.

Of course, if I find something that I think is technically sound, I will invest in them through some funds. I am a partner in several funds. In general, everything in Poca is what I am most interested in, but in fact I also have my life.

Block Rhythm BlockBeats : Thank you for your answer.

Lin Jiawen : A very refreshing interview!

Thanks to and Web3Foundation for their support of this interview.

* Block Rhythm BlockBeats prompts investors to guard against high risk. The opinions mentioned in this article do not constitute any investment advice.