⎮Headlines
- ✓ [Finschia] FNSA holder verification supported within the Discord community (> verify as FNSA holder)
- ✓ [Finschia] FNSA trading event on Huobi Global
- ✓ [Finschia] Finschia welcomes CertiK as Finschia Governance Member and node validator
- ✓ [LINE NEXT] Finschia mentioned at Xangle x CMC Live Recap: Web3 Adoption in Korea/Japan
- ✓ [LINE NEXT] Presenting Web3 for Billion Users at KBW 2023 (sourced by TechM)
⎮ Conference Recap — Korea Blockchain Week 2023
LINE NEXT, one of Finschia’s governance members, participated in Korea Blockchain Week (KBW), the largest blockchain conference in Asia, held in Korea. Under the theme ‘Web3 for Billion Users,’ Woosuk Kim, Business Director of LINE NEXT, shared insights on several key topics. These included the early failures of the blockchain industry, the challenges that NFTs face in the context of Web3, the current state of the industry, and the direction in which LINE’s distinctive blockchain infrastructure and tools are leading:
Blockchain Scalability:
Blockchain currently faces challenges in handling high user traffic. There’s a need to evolve blockchain technology to support mainstream applications and businesses effectively.
Reimagining dApps:
Many projects struggle in the NFT and Web3 markets because they perceive dApps as complex. It is essential to view dApps as regular applications empowered by blockchain technology.
LINE NFTs:
Through partnerships and collaborations with leading entities and IPs, LINE is developing into an NFT blockchain platform with a focus on digital goods and commodities.
LINE’s Blockchain Services:
LINE’s blockchain business is centered on core functionalities, including cross-border sales, user-owned asset trading, and digital authentication.
LINE’s Blockchain Vision:
Over the next fiver years, LINE aims to attract more than 1 billion users and become a fundamental infrastructure and tool for a wide range of applications and business models.
⎮ Finschia Governance Member Interview: A41
Hello, Could you please introduce yourself?
Hello, I’m Jooman Han, the leader of A41 Tech Team. I have a passion for learning new technologies so starting in 2019 for three years, I developed and operated a service to provision machine learning environments at Samsung. After that, I was fascinated by blockchain, which is developing faster than AI and introducing new technologies and concepts, so I joined A41 as a founding member through my academic activities.
More about your company A41?
A41 is a blockchain infrastructure company that focuses on developing products like validators and Governance-as-a-Service (GaaS). Our team believes that blockchain serves as a trusted data layer, particularly in an era where internet development has necessitated trust in anonymous entities. A41’s goal is to provide the infrastructure enabling the use of blockchain technology for this purpose.
A41 seems to be involved in a lot of decentralized governance. What criteria do you consider when selecting governance members and networks?
Originality. In general, blockchains are mostly open-sourced to achieve the goal of being “trustless,” meaning they don’t require trust from an unspecified number of people. We focus on whether they address a unique problem area, as open source cannot effectively engage the ecosystem unless it tackles a distinct issue.
What led you to explore Finschia?
I believe blockchain technology is still closed and complex for the masses. It demands an understanding of blockchain systems, chains, and transactions, even for those interested in the technology. To alleviate these inconveniences, it’s crucial for companies with mature service experience, strong technological expertise, and a solid trust foundation to make efforts. In this context, I decided to support Finschia. The concept of an intent-based approach, which is currently actively discussed in the blockchain industry, inherently establishes trust between the service provider and the user. I believe introducing such a service will be highly beneficial to the Finschia community.
❖ Intent-based approach: A method in which a service provider involves identifying a user’s intent or purpose and delivers services accordingly. In other words, it utilizes blockchain technology to help users use services safely and transparently.
Are you collaborating with the Finschia network?
A41 participates as a node validator, leveraging its extensive experience in on-chain governance from other chains. We recently discussed the risks of centralizing voting power on the Finschia network and proposed solutions, drawing from examples on other chains.
How will you contribute to the Finschia ecosystem in the future?
- Providing governance insights:
As a validator, A41 continuously creates user-friendly governance notes, addressing chain issues. We’ll do the same for Finschia, offering insights to the community for activation.
2. Publishing research and content:
Over the past two years, A41 has released 200+ research pieces, simplifying blockchain tech for all. As the research team strives to discover problems and propose solutions through deeper research, such as our recent article on the Cosmos Forum (> Replicated Security (RS)), we’ll provide essential insights to Finschia.
3. Ensuring network stability:
A41 maintains a stable chain operation without slashing penalties, crucial for delegators’ returns and overall chain stability. Our operations are based in a Tier 4 data center, ensuring maximum reliability.
❖ Slashing penalty: In a blockchain network, a penalty imposed when a validator engages in inappropriate behavior, such as threatening the safety and reliability of the network.
❖ Data centre (Tier 4): TIA-942 data centre rating system, one of the standards for assessing availability and reliability, meaning that it is a data centre that ensures a high level of availability and reliability.
Are there examples of Web3 companies, like A41, collaborating with Web2 service providers? I’m interested in the potential synergy between Web2 and Web3 in the blockchain industry.
Web3 companies excel in understanding blockchain system challenges, staying updated on trends, and swiftly executing through stakeholder dialogues. On the other hand, Web2 companies bring mature service delivery experience, strong technical expertise, and established user trust.
To establish blockchain as a trusted data layers, improving user experience (UX) is crucial. Web3 companies can quickly identify and address issues, while Web2 companies can enhance the user experience based on their mature expertise and trust.
What areas of service is A41 currently exploring?
We are currently exploring various aspects of blockchain infrastructure. In response to industry trends, we are focusing on enhancing user experience through technologies like smart contract wallets, MPC (Multi-Party Computation) wallets, intents, and privacy solutions. Additionally, we are working on improving the sustainability of our infrastructure services through updates related to MEV (Maximal Extractable Value) and PBS (Purposer-Builder Separation).
❖ Maximal Extractable Value (MEV): The maximum value that participants in a blockchain ecosystem (such as miners, validators, and users) can obtain from block production, aside from block rewards and transaction fees by adding, excluding, or reordering transactions.
❖ Proposer-Builder Separation (PBS): A new transaction market design intended to address the issue of MEV centralization in Ethereum 2.0 after the Merge.
What would be the most crucial factor in co-creating a mass market service in the Web3 industry?
I believe it’s essential to enhance the user experience without compromising the core value of blockchain, which is its ‘trustless.’
Any closing thoughts?
Thank you for this insightful interview. We hope for your continued support of A41 in the future.
⎮ FNSA Overview
■ FNSA Market Cap: 153.03mn USD
■ FNSA Price: 21.50 USD
■ Monthly Trading Volume: 39.16mn USD
■ Circulation: 7,119,310 FNSA
■ Total NFTs circulating on the Finschia: 1,030,329
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**Disclaimer: This newsletter is issued by Finschia Foundation, the operator of Finschia mainnet and the issuer of FNSA. It provides the information about the business and services related to the Finschia ecosystem. Please note that the business entities may vary depending on the service.
