(中文版本) Finally, we see the first-ever Polkadot meetup in Hong Kong yesterday. Jack Platts of Web3 Foundation has joined us remotely. Shiqing Guo, the co-founder of ChainX which is the China’s strategy partner of Polkadot, has come to Hong Kong to show us how to setup and run a node. Special thanks to Chi Zhang and Edmund To for arranging this meetup.
Both Cosmos and Polkadot want to give a solution to the interoperability problem of blockchains. We start to follow Polkadot due to its co-founder Gavin Wood who is also the co-founder of Ethereum. Personally, I am a fan to Web3. As an ex-banker and the then internet startup guy, I love the concepts of censorship-free and permissionless internet. I am so regret I have not joined Web3 Summit last year. I will not miss that again.
(I strongly recommend you to watch the videos of Web3 Summit, which are far more than blockchains.)
I need to disclose that we have joined the Cosmos ecosystem for a year and we meant it. So I am biased and you need to treat my opinions with caution. Regarding the projects, I think Cosmos has a six-months lead over Polkadot. From the introduction yesterday, Polkadot might not keep updated on the recent progress and plan of Cosmos. They might have also underestimated the importance of validators community, and the difficulty in building one. In the recent launch of IRISnet, we have already experienced such importance and difficulty.
The largest intangible asset of Cosmos is the quality, contributing and worldwide validators community it has built for over a year. Here is the tricky part: the validators have contributed so many time and effort in building their own reputations in Cosmos ecosystem and hence they are facing high switching costs when they are considering other ecosystems.
According to the web analytics of Big Dipper, the Cosmos block explorer created by Forbole, the people who were interested in Cosmos came from 508 cities of 72 countries who were a group of users of 47 languages.
To us, one of the largest advantages of Polkadot is their emphasis in web standard. They prioritize the web UX from the very beginning. This is reflected from the name of their foundation and the design of keynote. This is important for wide-adoption of blockchains. The tech barrier of Cosmos is quite high which scares a lot new comers. Cosmos community is quite self-selective in the sense that non-performing members will be left behind and faded away naturally. While this is good for building a quality community at early stage, Cosmos also needs to consider how to make new comers to join the project easier moving forward.
A comment on the event. The number of attendees looks small when compared with the big name of Polkadot in blockchain space. But this is good for us that we met some new friends who were contributing to the blockchain community here in Hong Kong. We need more community of real deals, not shitcoins.
Forbole is a blockchain startup founded in 2017. We are building ForboleChain, the BPoS chain for decentralized social networks powered by Cosmos SDK and Tendermint. We are a contributing community member and validator node operator on Cosmos and IRISnet. We were one of the named winners in the “Never Jailed” category of the Game of Stakes by Cosmos, and we were the only one come from Hong Kong. We were also ranked #1 in the Incentivised Testnet by IRISnet. We are the creator of the award-winning Cosmos block explorer Big Dipper in HackAtom3 by Cosmos.
In Nov 2018, Forbole has also started to run a node on Polkadot. This was the only node in Greater China at that time.
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