Recap of our French AMA with Ternoa CEO Mickael Canu
After the launch of our phase 3, on November 24th our CEO Mickael Canu held a French AMA to talk about all the recent changes and share more on the updates implemented. The recording of the space can be found here.
In this post, you can find a summary of the most important points covered in English.
From time capsule to Ternoa
In 2013, Mickael had an idea that would eventually lead to the creation of Ternoa. He thought about a Time Capsule system, similar to how people bury time capsules and open them years later — but in a digital way. When he created it in firefox and chrome it didn’t work. In 2015, he relaunched the idea via torrent with another failure realizing the system was too centralized.
In 2016/17 when Mickael’s company started using Ethereum, he discovered the concept of blockchain. In 2020, together with other entrepreneurs, he built a PoC of Time capsules on Ethereum. He quickly noticed that Ethereum was hard to adapt to for this use case as it was expensive and lacked encryption for NFT. In looking for an alternative, the team started imagining a layer-1 blockchain built using Substrate. That’s how Ternoa was born. Thanks to the SDK, it’s now easy to mint, send and create secrets for any developer, regardless if they had prior web3 exposure. Business leaders are very interested in Ternoa as they can leverage the technology without needing to find smart contract experts nor learn entirely new programming languages. What started as time capsules has evolved into a holistic NFT infrastructure platform.
Blockchain Phase 3
Phase 1: Creation of tokens, nodes, and bridges
Phase 2: Development of Marketplaces and delegation features
Phase 3 is the latest phase pushed to mainnet, which adds auctions, rental NFTs, and soulbound tokens, opening up hundreds of new use cases. Ternoa wants to handle as much as possible on-chain to establish trust and transparency. An example of that is handling marketplaces on-chain to ensure that marketplace creators cannot set royalties or scam.
Roadmap
Phase 4 will add Capsules where one can add and remove the content in NFTs in a decentralized way. Additionally, we’ll launch secrets that only owners can decrypt, and transmission protocols. Phase 4 will go live within the next two months.
After that, we’re planning to launch Augmented NFTs, Fractionalization, and Mirroring of NFTs. The roadmap will be updated in January to reflect the planned advancements most accurately. The Ternoa board meets once a week to discuss all the features that are missing, and soon we will hold some of these sessions in public.
Eventually, we’ll add EVM-compatibility and have Ethereum-like smart contracts. Another item for the future will be governance through a DAO.
Ternoa vs other blockchains
None of the other blockchains offer native NFT renting; they all, therefore, require smart contract development and audits. Ternoa is easy to use, secure and scalable.
CAPS price impact on project
The price of CAPS doesn’t impact the development of the project, as all our fundraising is done in dollars. Investments are stored on a multi-sig wallet, not on a centralized exchange. While the market is less hype-driven, we focus on building.
What are the differences between CC Labs and Ternoa?
Capsule Corp Labs is directed by Clement Tequi, and once a month, the labs’ team and ternoa will come together to discuss new projects or any difficulties faced. The labs’ team also supports technical development, but we remain two separate entities.
Considerations of creating a DEX?
With several tokens on Ternoa it will become a necessity. It’s a work in progress.
Ledger integration
Transferring and handling of CAPS should be functional on the Ledger by mid-December. In January, you will also be able to stake your CAPS via the ledger. It’s in the hands of the Ledger team, so it may take some more weeks.
Are any other projects creating their own tokens on Ternoa?
Babolex is launching its token, and more are planned for the future. It always depends on a project’s strategy.
Playing MafiaFoot?
Mickael plays all the games in preview, so MafiaFoot won’t be an exception.
Inspiration
When the project was first presented years ago, many of the people we spoke to didn’t understand it. Today we see them going “ah yes, that’s not bad”, which makes Mickael very happy. It’s progress and in the long run, Ternoa will be the number 1 blockchain for managing NFTs, because Ternoa is the only one specialized in it with innovative features. Everything will be simpler with Ternoa whether for games or web2 companies looking into digital assets.
Swissborg Listing
The founders have a very active dialogue, but it’s not something Mickael handles. We are planning a community event at some point.
Thanks to everyone joining us. You can keep up with all our latest developments on Twitter.
Join our Discord server to chat directly with the team, and participate in fun games to win some CAPS. 🏆
