🇶 Can you elaborate on how your protocol empowers ordinary individuals to maintain it without relying on large institutions?
🇦 We are attempting to address this issue through home staking.
- As blockchains have evolved and their histories have grown longer, only institutions have been able to maintain nodes.
- Our goal is to make it feasible for individuals to run these nodes on their home computers.
🇶 I would like to ask about the logo of the overprotocol platform, it’s somewhat similar to the logo of Worldcoin or World Bank… did u guys do it in purpose to attract clients or does the world bank back you up financially.
🇦 logo looks similar to Worldcoin, but this was not intentional.
- We designed our logo independently to represent the new internet.
- Perhaps this design is trending among prominent global projects.
- Our goal is for Over to become more famous than Worldcoin, so that when people see this type of logo, they think of us
🇶 My question is: in the real world, what does Over solve essentially.? What value does it add to me personally as a crypto based enthusiast who’s looking to not just build a portfolio but invest in impactful and real world CryptoCurrencies that solve real problems.
🇦 We are addressing two issues: one related to blockchain and the other a global concern.
- The blockchain problem involves addressing the growing weight and dependency on blockchain technology.
- The global issue is to facilitate the digitization and exchange of values that are not easily tradable in the world.
- Our vision is to enhance the global utility through these efforts.
🇶 What are your short-term and long-term goals for the development and adoption of your protocol?
🇦 1. In the short term, our goal is to establish OverProtocol as the global financial infrastructure.
2. In the long term, the objective is to incorporate various assets onto this mainnet to make them tradable.
🇶 What is Over and Nether layer?
🇦 Let me explain Over’s layered architecture in a simplified manner.
- In blockchain, to verify the validity of new blocks generated at the tip of the chain, information is required.
- OverProtocol has designed its architecture to minimize the amount of this information, known as the Over layer.
- There are two distinct types of information: the entire state values of blockchain accounts, referred to as “state,” and past data of the blockchain, known as “history.”
- The core of Over’s design is to retain only essential data from both categories and discard the rest, which is categorized under the Nether layer.
- This approach can achieve compression rates of around 90% compared to other chains, making it possible to provide a blockchain client that can run on your home devices in terms of size.
🇶 Why the reduced node size increases sync speed.
🇦 With reduced data sizes, sync speed increases because there is little data to download.
- In practice, sync speed may vary depending on how the p2p network is configured and will differ among individuals.
- However, in a laboratory environment, it was confirmed that syncing can be achieved within minutes.
- The actual sync speed and time will be measured and verified through metrics collected during the testnet for different regions and environments.
🇶 Are there any plans to conduct an audit.
🇦 We consider this to be a necessary step.
- We are already collaborating with external entities to conduct a high level of testing with an objective perspective.
- We have also initiated processes with industry-leading audit firms.
- As we have been emphasizing repeatedly, we aim to build a very robust system. This is achieved through
1) solid protocol design
2) secure implementation
3) and last but not least, your active participation.
- We believe that the audit process is essential in this regard, emphasizing its importance to ensure the highest level of security and reliability in our system.
🇶 Will the Points be converted to $OVER or will $OVER be deployed as a separate token on the blockchain?
🇦 The points will be converted into the native token, symbolized as $OVER.
🇶 Can we run Over nodes on smartphones, and what is the reason for the 66% uptime limit?
🇦 We are building a distributed ledger system composed of relatively small entities.
- The ethos of blockchain is to create a transaction system that does not rely on a few powerful entities.
- Our goal with Over is to create a robust system driven by the community and protected by the community.
- While it would be beneficial to make it easier for people to participate in the system and accommodate more participants, we must ensure the safety and robustness of the system, even if it consists of small entities.
- If the system’s reliability is compromised, our community loses its meaning. Therefore, we must establish minimal rules, and as of the “current standards,” running a mobile node or having less than 66% uptime cannot be allowed.
I’ll talk about each of them in more detail.
- Firstly, the ability to run full nodes on mobile devices is one of our ultimate goals, and we hope to bring the utility of mobile devices to the network through technological advancements and more effort. We cannot promise a specific timeline, but we encourage you to look forward to the future developments we will be making.
- Secondly, the reason for defining the minimum uptime level is to minimize downtime penalties and protect validators. Our reward penalty structure is similar to Ethereum’s.
- For example, if you go on a month-long trip, and your computer is turned off, or if your computer is turned off for any reason and you didn’t know or neglected it for a month, Ethereum would accumulate penalties for that month.
- In Over, we anticipate situations like this for regular users and have implemented a rescuing feature to make validators gracefully inactive before accumulating excessive penalties.
- The 66–70% range comes from these calculations. In essence, in the example I mentioned, validators receive continuous penalties in Ethereum for a month, whereas in Over, they receive penalties for a week and then become inactive, preserving their assets.
- As described in the whitepaper, this feature serves both validator asset protection and overall network stability enhancement.
- But I wanna address regarding uptime criteria. In a PoS network, it is crucial for participants to be online all the time.
- To maximize your validating reward, your device should always be on and connected to the network. 24/7.
- We understand that this can be a challenging standard to meet, but as mentioned before, we need to create a robust system that we all uphold together.
- While there may be various methods to mitigate this, a strong system emerges from simple, clear rules.
- From this perspective, uptime becomes the top priority condition in the rules, and we intend to verify how Over validators worldwide can uphold these rules through the upcoming testnet.
What is OverProtocol ?
- A blockchain network committed to fostering a truly decentralized ecosystem, allowing anyone to serve as a validator.
- Leveraging ‘Ethanos’, an innovative node optimization technology, it empowers individuals to operate full nodes from their home desktops.
- Driven by the vision of decentralization, OverProtocol aspires to place the power of a new internet right in your hands.
- Mobile crypto wallet application, serving as a gateway to OverProtocol.
- Before the Mainnet launch, the wallet educates users about Over Protocol and blockchain technology, offering rewards that will be usable on Over Protocol upon its release.
- With over 4 million accounts registered and more than 1 million daily users, OverWallet is at the forefront of building a robust community around OverProtocol.
- Node client designed to help users run Over Protocol nodes on their personal computers.
- Featuring an intuitive UX/UI, OverNode allows anyone to seamlessly become a validator for Over Protocol, no computer science background required.
- Its official launch is set for the first quarter of the upcoming year.