Constellation Community AMA
Date/Time: Thursday September 10th, 2020 at 10h00 (PST)
Participants:
Benjamin J Jorgensen (CEO, Co-founder)
Benjamin Diggles (CRO, Co-founder)
Mathias Goldman (COO, Co-founder)
Wyatt Meldman-Flock (CTO, Co-founder)
Tom (Constellation Community admin)
Note: This transcript has been edited to remove “typos” and to improve readability. The original conversation can be viewed at the official Community Telegram: https://t.me/constellationcommunity
Tom:admin
What’s up guys! Welcome to, I believe, the first AMA with the team inside the Constellation community telegram channel!
Tom:admin
Mateo Gold is here as well, how are you guys doing?
Benjamin J Jorgensen:admin
Well…. we are doing great
Mateo Gold:admin
We are great, been super busy the last weeks
Benjamin J Jorgensen:admin
Working with partners in Asia, UK, and US… keeps us working long ass days
Reminds me of 2017 and 2018
Tom:admin
Haha why is that?
Benjamin J Jorgensen:admin
People are understanding the value of blockchain, DeFi has caused a small resurgance, our team is full force.
So much excitement
Mateo Gold:admin
Yes, one of the things that always stands out to everyone that we are talking to in fact is that they comment on how strong and organic our community is and how much momentum we all create together.
Everyone loves the Stardust video.
Benjamin J Jorgensen:admin
We tell a story of self organization when it comes to our community.
Tom:admin
Niceee haha lets jump right in
So the structure of the AMA is that I will start off with a few questions that I’ve received from multiple community members and after that we’ll open up the chat so people can ask questions themselves.
Benjamin J Jorgensen:admin
Excellent Tom!
Mateo Gold:admin
Let’s roll
Tom:admin
First question on the list is regarding exchanges! Is there anything you guys can say about this subject?
Haha, classic.
Benjamin J Jorgensen:admin
Thanks Tom. We have been working around the clock and are in multiple negotiations with several major exchanges.
This is exciting and will bring on some new blood into our community
It has been incredible to talk to all of these exchanges and hear how great our community is
Can’t mention who we are talking with but lets just say we are holding out for big news
Tom:admin
> Benjamin J Jorgensen
> Can’t mention who we are talking with but lets just say we are holding out for big news
Yeah figured, alot of NDAs there
Tom:admin
> Benjamin J Jorgensen
> It has been incredible to talk to all of these exchanges and hear how great our community is
Awesome! We do our best as a community when exchanges ask for “what to list next” so that’s great!
I’m liking this answer, lets keep it short and sweet! Onto the next one?
Benjamin J Jorgensen:admin
Let’s do it Tom!
Tom:admin
You guys mentioned that light nodes would be introduced this year during the recent AMA with Satoshiclub, is there any information known about it yet? for example Lock-up amount, total number of light nodes etc?
Wyatt M-F:admin
So regarding light node rollout into main net we are still deciding how these will be factored into the governance and token model. But you will be able to see an example of a light node compared to a full node process. It’s really just a monad vs a nested monad
Benjamin J Jorgensen:admin
We are aiming for 1k’s! We want anything that produces data to deploy a light node
All of our enterprise and federal initiatives… anything creating data will be a light node on Constellation.
We will far surpass Ethereuem.
… and we already have a massive head start to Polkadot.
Tom:admin
I have no clue what monad vs nested nomad is haha, could you maybe elaborate on that, if its relevant?
Wyatt M-F:admin
Nested just means a monad inside a monad
Tom:admin
> Benjamin J Jorgensen
> We are aiming for 1k’s! We want anything that produces data to deploy a light node
As a lockup?
Benjamin J Jorgensen:admin
We are working on that and how rewards will be distributed and locked up. I think the DeFi space is painting a rather great example on how to tie up liquidity.
Tom:admin
So I’m guessing there will be a LOT of light nodes, is that hand in hand with adoption?
Benjamin J Jorgensen:admin
Yes. Anything that produces data… each state channel… anyone building on Constellation’s ecosystem.
This is a large undertaking and why we are spearheading a lot of enterprise initiatives
Data aggregators/largest data producers in the world is our approach to mass adoption
and hey we are already working with some of the largest data aggregators in the world. Splunk for example works with nearly every Fortune 500 company.
1: Many
Wyatt M-F:admin
As we roll out app support and state channels, you’ll see that the real magic is that we no longer need to think about crypto in terms of “nodes” but verifiable processes. These processes can run anywhere and converge to unified state
Tom:admin
Awesome wyatt, thanks
> Benjamin J Jorgensen
> and hey we are already working with some of the largest data aggregators in the world. Splunk for example works with nearly every Fortune 500 company.
On their site they mention 92 of the fortune 100 I believe
Benjamin J Jorgensen:admin
Dag Research Council insight there! Nice find.
92% of the worlds largest companies — I stand corrected
Tom:admin
Well F100 is basically just america right haha, still huge tho
Sounds really great guys!
Lets move on to the last question? My personal favorite hehe…
Soo, you guys dropped some nuggets about DeFi and you mentioned in the previous AMA with Satoshiclub that you guys were working on something related.
I saw the interview you guys did with Kidsontheblockchain and you guys mentioned you had news “next week”.
It was recorded last week :eyes:
Soo my question is, do you maybe have some DeFi related matter to share with us?
Benjamin J Jorgensen:admin
Oh do we … www.Lattice.exchange
Mathias is going to chime in here! This is very dear to us. Essentially this is our first ecosystem and application build on Constellation. We are leaning in to help create a framework on how to successfully build on Constellation and how to activate the Stardust Collective.
Mateo Gold:admin
So one of the big problems with defi is what I have outlined in one of latest tweets: Ethereum doesn’t scale is not a meme but a reality.
In case of a black swan, this poses massive risks for traders and liquidity farmers in the entire defi ecosystem that has more than 10B of assets locked. Basically the path to liquidity in such an event is too far away and blocked bc of super high TX fees.
That ties into the spiral of declining price in case of a black swan. So basically traders are at a huge risk of losing a lot of value due to the underlying infrastructure.
Lattice is our flagship project based on the DAG Hypergraph that not only addresses the issues of Ethereum but we have a fully decentralized working mainnet that can be built upon. This will drive value to our ecosystem in many ways.
But most importantly, enable traders to aggregate liquditiy on Lattice while being cross chain liquid with DAG/ERC20. That mean a lot of DAG will be tied up in liqudiity pools to enable the cross chain swaps
Some thoughts on systemic risks regarding DeFi and $ETH: 1.) Cryptokitties as a rather simple narrative clogged up Ethereum in 2017. It still is a major traffic source on Ethereum.
So if you really think about the systemic implications this is huge
Tom:admin
Right, DeFi is screaming for something that is scalable
Mateo Gold:admin
so here we are with a ready ecosystem to be built upon. That’s the DAG Ethereum moment we have been talking aout for the last 1,5 years
Tom:admin
Plus something with low tx costs, gas fees have been ridiculous
Mateo Gold:admin
Yes. so we are really thinking in ecosystems and Lattice will show the world how financial products can be built on the Hypergraph
Benjamin J Jorgensen:admin
This project is positioned to show how Constellation’s ability to improve data integrity for enterprise organizations and federal — but also how we apply to crypto.
Mateo Gold:admin
this will pave the logic and way towards much more complex financial products like we always envisioned around data. data derivatives for example.
it ties very nicely into the larger constellation vision
Benjamin J Jorgensen:admin
Our goal is to not just build improved financial instruments for crypto but the broader securities markets as well.
Tom:admin
Can you tell us something about who you are working with on this?
Benjamin J Jorgensen:admin
Yes. We are bringing in a lot of new partners into the Cosntellation ecosystem. FBG Capital — one of the most successful Asian funds have leaned in from the beginning as well as Alphabit Fund (one of the largest and oldest funds in crypto) have been early seed investors.
We also just brought on EncryptClub — an Asian KOL community to the mix as well.
None of this has been formerly announced and we will next week
Tom:admin
KOL?
Benjamin J Jorgensen:admin
Key Opinion Leaders.
Influencers
Tom:admin
> Benjamin J Jorgensen
> None of this has been formerly announced and we will next week
Oofff, you heard it here first folks!
Benjamin J Jorgensen:admin
We are really making huge strides into the Asian communities right now with new partners and a new perspecitve. They see a lot of potential in Constellation, our community, and our technology.
Mateo Gold:admin
it’s incredible to finally get the validation we have all been working so hard for the last years. There is a lot of excitement around what we are building and these guys really understand the value of the ecosystem and products we are building.
Tom:admin
You guys deserve it, honored to be here with you guys on this.
Mateo Gold:admin
thank you, you all are part of the journey and without such a strong community we would have not gotten that far. It takes very special people to recognize the width and depth of what we are building and aiming for
Tom:admin
Sounds absolutely amazing guys
Anything else you’d like to add?
Benjamin J Jorgensen:admin
Our data narrative is extremely strong and we want to show how our technology impacts the crypto community and traders.
Tom:admin
Right. Also I would like to give the rest of the community the opportunity to ask questions so with your consent I’m opening the chat now!
Benjamin J Jorgensen:admin
Open it up! Thank you so much Tom.
< At this point, a number of questions were raised by the community. What follows are only those that were directly answered by the team during the AMA >
₿itmike
When will lattice be usable?
Benjamin J Jorgensen:admin
Over the next several months. We will start by making LTX (the token) tradeable.
Victor
Can you explain a little more about what lattice is? Also when will it officially be live?
Benjamin J Jorgensen:admin
Absolutely Victor. You can check out www.lattice.exchange. for more information. It will be usable throughout multiple phases.
Lattice Exchange is a decentralized application, DeFi solution, built on the Constellation’s Network, called Hypergraph. Constellation is an infinitely scalable decentralized network, leveraging dynamic partitioning for speed and network optimization, that is built to process big data while integrating seamlessly with data management solutions for high computational needs (like algorithmic trading). Lattice will feature:
❖ AMM based liquidity pool that allows lenders to earn transaction fees on their deposits (farming).
❖ Smart routing algorithm for trade execution across different platforms.
❖ Advanced platform for pluggable institutional grade order matching algorithms that are asset specific (multiple AMMs).
❖ A governance token called “Lattice (LTX)” which gives holders certain rights in regards to economic parameters like transaction fees and inflation/deflation.
Lattice will draw upon the highly active Constellation Community and the projects seed investors, FBG and Alphabit, for initial support while maintaining a strong marketing campaign to drive traction and growth.
Erik D
Lattice is a great idea to showcase using the dag network but what does this mean for $dag holders when a new token is being issued (LTX)
Mateo Gold:admin
Think about it systemically: DAG will be locked up in liquditiy pools to enable crosschain pairs. The LTX project will be governed by LTX token and decentralized governance. That will enable people to earn rewards for their DAG and add addtional layers to the entire ecosystem. Think about the projects that will be built on the Hypergraph driving further value with completely cross chain liquid tokens not only in our DAG ecosystem and token standard but also to ERC20. That’s a very powerful value prop from multiple angles.
Cryptoast.io
Nice job, team! I hope that Hotbit finishes the mainnet swap soon. It’s been months — would love to see the tokens sitting comfy
Mateo Gold:admin
Hotbit has been quite a disppointment to be honest. They have not been communicating according to our standards. We will contact you in regards to that seperately.
Sarung Khan
What role do you think Constellation will play in making blockchain highly adaptable for the worldwide stage???
Mr. Diggles:admin
Validation through true entities like the US Government. We are always excited to see any Blockchain project be adopted commercially since it impacts us all. There will not be 1 protocol to rule them all. We want to play our role in the realm of data in transit since it truly shows what’s possible with DLT. Folks are so wrapped up around the limitations of Hyperledger Fabric and Ethereum that they are blind to other efforts like Constellation. So if we continue to gain adoption as a standard amongst various federal agencies, we will do our part in showing the world that DLT is a mission critical element in big data workflow.
Ekthelius the Accumulator:
In the most recent interview, the proliferation of false information and the negative impacts it has on the social fabric was mentioned. One of the many blockchain concepts I have knocking around in my head is one that queries and collates the voting histories of our elected officials from existing databases / historical regards. The goal of this would then be to plot this against their respective constituencies to assess whether our not the corresponding voting patterns of the official respects the will of the people with the end result being the assignment of a Trust or Reliability index that is recorded into an immutable, historical record. Officials can say whatever they want in front of podiums. They cannot deny their own histories or the impact their votes have made on society.
A more bold extension of this would be also to determine how the bills / policy affect money flows in terms of defunding specific communities, social programs such as schools, or boost funding for the ongoing drug war along with the militarization of police forces.
Would this dAPP description be feasible using $DAG as its ecosystem?
Wyatt M-F:admin
100% that’s really the vision
Donald R
With DAG, will smart contacts not be needed? Thoughts on Chainlink?
Benjamin J Jorgensen:admin
Thanks Donald. Smart Contracts won’t be needed when you have a micro-service arcitecture that is interoperable with data management systems and blockchains. Our micro-service architecture will cryptographically secure more than just numeric values which will open up both centralized data producers and blockchain ecosystems to be interoperable.
What about Chainlink? You still need to oraclize real world data and ensure the veracity of data. Constellation will provide oracalization of big data and ensure the integrity of data at scale. Smart Contracts can’t do that. Lattice will be a project that shows how we can oracalize data and create more robust trading instruments like derivatives.
Juleno
Can you show us the hypergraph?
Mateo Gold:admin
The hypergraph is fueling our mainnet right now. We have 45 completely decentralized nodes all over the globe. I published a screenshot of the nodes a while ago and Wyatt has a pinned message on Twitter with an early visualization of the hypergraph
Victor
Any news on phase 2 USAF??
Benjamin J Jorgensen:admin
Yes. We have been putting together about 6 different agencies to establish a standard for how data is collected and transported. We have received more letters of support and are working on Phase 2 and Phase 3 in tandem while introducing some new key players to the application process (like Splunk and other government agencies outside of the AirForce).
nico
I would like to know from the team how big it is right now, and how you guys expect to expand and grow the team overtime as there is a growing number of usecases, projects, partnerships that all need time and attention to maintain relationships and build and expand things further… maybe you can elaborate on that?
Benjamin J Jorgensen:admin
The team is about 12 people with another 10 contractors right now. The use cases are growing exponentially within the team and through our partners. We are tackling different industries and providing a framework on how to tackle use cases specific to those industries — this allows industry leaders to lean in and build on Constellation.
El Dude
How much TPS you guys aiming at least for when you guys start with the big entities like Airforce?
Wyatt M-F:admin
It really just depends on the project, the more resources you add the more data you can process
V
So grateful, great AMA and thanks for the time! @Wyatt_yo couldn’t find you mentioning in depth before (maybe didn’t search enough)
But did you made a AMA/comment already how and if it’s proposingly easy to integrate quantum entanglement, as a very basic but mind blowing feature of quantum objects, with our “primitive” data types to verify the state of a distributed system and its data on a deep level, in regards to the ongoing and rapidly growing trend of quantum computers and how these technologies can be fusion or has that no importants for us and the future of DAG ? Would be very exciting to hear a longer comment or Video where you takle that topic.
Benjamin J Jorgensen:admin
@Tom1363 let’s follow up with this and schedule a video and coffee talk to be done with wyatt.
El Dude
How much value did the airforce and u.s. govermnent add so far to Hypergraph, do they come up with ideas you guys didn’t think of?
Mr. Diggles:admin
The DoD is well versed in DLT which was a huge surprise to us. We went in thinking they would really care about threat vectors and while that was interesting to them moving data in transit that is comprised of complex clearance structures is the true focus. Meaning, a data set might have one small piece of data in it that is Top Secret so it cannot be placed on a public network such as the internet. With Constellation, we have the ability to cryptographically secure these complex data sets down to a specific data type to ensure that it remains secure in contested network environments. But to answer your question, yes — they have brought use cases to the table that we hadn’t even considered but are a perfect fit for Hypergraph. The big one being around using micropayments for software or hardware license usage in real time environments such as simulations or true, real-world missions.
Headroom
Do you think Lattice exchange & Constellation will make High Frequency Trading on a decentralised protocol a reality?
Mateo Gold:admin
ofc you can think around these topics once you have a different infrastructure with instant settlement like the Hypergraph. The focus of Lattice is to show how multiple AMMs and aggregated liquidity can help traders and farmers while having the resoruces and efficiency of a broadened crosschain ecosystem. At the same time we are very curious and excited what people will come up with in regards to products and ideas with the expanded toolset the hypergraph provides.
Maervalo
Could you talk a bit more on how the aggregation of liquidity pools will work? And would also be interesting to hear more on how data that will be created on Lattice can add value + how that value can be useful for markets outside of crypto.
Benjamin J Jorgensen:admin
One of the big things that we will show, through Lattice, is how our technology will improve oracalization of data and open up the ability for DeFi to tap into advanced trading instruments seen in traditional securities markets. One of the big problems in the DeFi space is accessing liquidity pools and unlocking isolated pools. This will be one of the first things we solve in our roll out and one of the first ways for people to use Lattice.
We are scheduling a lot more with Lattice. Our goal will be to show the power of Constellation through Lattice and make Constellation easier to understand.
Tom:admin
Seems like the community is saturated
Lets do this again sometime!
Benjamin J Jorgensen:admin
Thanks Tom!
Great AMA. Thanks for keeping it tight and focused.
Have a great day everyone! Feel free to reach out to the Admins on how to get involved with Stardust Collective. The Stardust Collective will be essentially for application building, funding of new projects, bounties on the marketing side of things, and evangelizing Constellation.
