AMA on Twitter 23.08.2024
Welcomes🔗︎
Good morning, good afternoon, good evening, wherever you're from. So welcome to Today's Stratos Community AMA, coming to you with a splash of the summer. I hope everyone is enjoying your summer, having a great time, whether you're tuning in from the beach, the park, or just enjoying a cold drink at home. We're very thrilled to have you here.
And like always, today we're just all gathering up together with our lovely Stratos community to share some latest update with you and also discuss together that what are our next plans within our ecosystem. Let's all dive in and soak up with some knowledge together.
To just kick off the Q&A sessions, we would like to invite our founder, Bin, to start by giving you all a quick, recent update. I am sure that all of you have been following our news and a partnership announcement closely. I'll pass the floor to Bin to give you all a general update and a welcome remark. Please, Bin, go ahead.
Updates🔗︎
Thank you, Claire, regarding the recent partnerships, Claire will provide you with updates later. In the meantime, I wanted to give you an update on the project. As you know, our team is working diligently behind the scenes every day. Currently, we're not only focusing on the business side for corporate users—whether it’s AI-related or traditional projects—but we are also dedicating more attention to end-users and consumers.
Claire has already shared some photos and screenshots of our structural drive, which is now nearly ready on our test network. Once testing is complete, we will transition it to the main network. We plan to test it for several weeks, and if everything goes well, we will release the version for public use, allowing anyone to download the application for free.
The drive will enable users to upload and download files seamlessly. Additionally, we are preparing to launch a platform similar to decentralized YouTube. Users will be able to upload their content using the drive, and if they choose to share it publicly, it will be listed on our video website, where others can watch it directly.
This also ties into our "share-to-earn" feature, which rewards users based on video uploads. If a video generates significant traffic through numerous views, the wallet owner will receive incentives through the share-to-earn mechanism. The decentralized drive and video website are two of our key products for end users and communities.
Meanwhile, we are also working on full IPFS integration, which is another critical feature. When we spoke to potential users at the conference in Toronto last week, we found that some were already using IPFS and paying for it. We explained that once our integration is complete, they won’t need to change any code—just update the link—and they can start using our platform instead of their current IPFS cluster.
Given the current scale of our structural network, which has around 900 nodes and approximately 17 petabytes of storage, our network is actually larger than any existing IPFS cluster. By transparently supporting IPFS, we aim to become the largest IPFS cluster, attracting many users by offering not only better performance but also more competitive pricing, as IPFS users currently pay a significant amount.
So, that's the third area where we aim to attract both end users and other business users. These are the most recent updates. Claire, perhaps you can share some insights about the partnerships on your end.
Partnerships🔗︎
Sure. I guess as a lot of you has been noticing that during the summer, since our last Community AMA, we have launched a few very exciting partnerships, almost close to 10 from different sectors. We really appreciate everyone's enthusiasm as well as our partnerships.
Well, there are still a lot of exciting developments in the pipeline. I think shaking hands with those other projects are also very important. We still have a good lineup of upcoming partners to be announced in the following months as well. Some notably, I would like to touch base on to share a little more in details is that typically the partnerships are really built more for a long-term goal.
For example, that with one of our partner, Bitdoctor. Ai, they're really working towards to revolutionize the whole healthcare industry. We really quickly established our partnership from the very beginning when they realized how Stratos I think that the central storage can actually help them to securely store their sensitive healthcare data. But the actual implementation process probably be much longer than we expected because there are a lot of the compliance and also data sensitivities that we need to really work with them together.
However, we are very excited to see users or business and projects and builders coming from different sectors actually show the interest and the necessities of using Stratos decentralized storage. That's some of the detail that I'm able to share with everyone to get a feel about how do we work with those partners in regards not only becoming a partner, but actually supporting them in terms of integrate our decentralized storage.
But the length is hard to really expect the timeline. Other than that, we are also actively participating into some of the partners Twitter space, focusing on whether AI big data or VPN situations. We also participated in the Canada's largest blockchain conference last week in Toronto. Although this is definitely a tough season for everybody in the space, but we're actually quite proud to see that Stratos is one of the few infrastructure builder and projects that are still very actively developing and attending among all the other projects in Toronto.
So definitely, I think with all the hard work and the upcoming important product released, we can expect another exciting times ahead for all of us. And that's pretty much the quick update that I'd like to share from my side.
IBC Update🔗︎
I think next we can just open up the floor to everyone who want to raise any questions. Like always, you can just raise the hand. I can just pull you up and invite you to speak. If not, I do have a list of questions that we gathered already that I can also go through that list and ask Bin to answer them individually as well. If you have any questions right now among our audience, please feel free to raise your hand. We want to have this interactive session with you. Well, while maybe someone is still getting ready to ask the first question, I do have my list ready, so I probably would just post the first question.
I think our community is very curious about what is the current status about the Stratos to Osmosis bridge, and how do you think that's going to benefit Stratos in general?
Yes, we're almost there. We've partnered with one of our validators' services, and they have provided us with the necessary support. The tokens are ready, but we haven't built the pool yet. However, I anticipate that we'll have it set up within a week or two. Everything is in place — it's just a matter of finalizing some test cases before we proceed. The code is ready; now we're just waiting to select the date to build the pool.
Computation and Database🔗︎
Great. That's a very positive response. Following that, do we have any update in regards to the development of the decentralized computation and database part? What is the timeline for that? Maybe you can elaborate as much as you can.
Currently, the team is working on a decentralized database that supports both traditional data and AI data, which we refer to as vector data. Our database is designed to handle both types, making it versatile for any application that requires an AI database. The team is making progress behind the scenes, and we're currently in test network mode. However, given the current market conditions, even if the database were ready today, we wouldn't push it live just yet. We're carefully considering the right moment to launch and announce it.
In addition to being an AI database, we want to incorporate more features that allow for a wider range of applications. For example, in the future, we might explore ways to integrate this database with our current wallet. Right now, our strategy supports wallet connectivity, and down the line, we envision that the wallet could also serve as an entry point to the database. This would allow not just business users but also individual users to store their data.
In summary, the data scheme we're working on is fairly straightforward, similar to a key-value store and other basic structures. The team has made significant progress on the test network, with about 70-80% of the work completed. However, even when it's fully done, we'll be waiting for the right moment to announce it, as the current market situation isn't ideal. That's the update—thank you.
Regarding computing power and the computing network, once the database network is complete, we'll redirect those resources and team members to focus on the computing network. While we have some ideas and initial concepts in place, we haven't started on the computing network yet. It's the next step, but we’re not quite there yet. Thank you.
Mining on Windows🔗︎
Thank you, Bin, for the transparency. And next question is, are there any plans to make a simple out-of-the-box software for mining that could work on Windows system, too? Something like, download, install, enter wallet seed phrase, and click start mining. Basically, it's like a one-click mining software.
It's a bit challenging. We've implemented the current wallet to be compatible with any platform—Linux, iOS, or Windows. But, running a mining machine on Windows can be tricky. While you can install a virtual machine on your Windows system and run the mining code that way, Windows isn't as stable as Linux servers for this purpose.
For instance, Windows might force your computer to shut down for updates or enter maintenance mode, which could disrupt your mining node. If your server shuts down unexpectedly, you could face penalties for improper shutdowns. This is one reason we haven't fully moved forward with supporting Windows for mining.
If you're looking for an easy-to-install script for running a node, it’s important to understand that for the Stratos network to be as stable as possible, each node must be healthy and stable. Ensuring this level of reliability is crucial.
That's why we haven't ported it to Windows yet. However, in the future, if we develop additional applications—like an external network around the Stratos network, which we might call Edge Storage — this could change. With Edge Storage, we wouldn't need to worry as much about some nodes shutting down unexpectedly. On the Edge side, we could potentially support not just Linux but also Windows. This is something we'll consider as we move forward.
The Stratos network currently focuses on a core storage network, but we envision implementing an Edge network around it. While not everyone can run a core network node, they could still participate in the Edge network. In that scenario, we would definitely support the Windows system. Thank you.
Stratos Name Services🔗︎
Cool. Next question is, when Stratos name services are supposed to be launched or are we even planning to such services?
We've been discussing this with a third party that specializes in implementing naming services for various public blockchains. There are two potential approaches: we could collaborate with them and grant them permission to run naming services on Stratos, or we could develop it ourselves. However, before proceeding, we need to carefully consider our options.
Most blockchain naming services simply allow users to replace their wallet addresses with a more memorable name, similar to how ETH handles it. But we want to go beyond that. For example, in the context of a decentralized video website, users could have their own domain or subdomain linked to their wallet address. This would make it easier for others to remember and access their content. Instead of needing to know the wallet address, people could simply use the custom domain to find any content, such as music, associated with that account.
Additionally, if people want to share content, they might also want subdomains. These subdomains could either match their wallet name or be something else entirely. We aim to make our naming service more versatile than just converting a wallet ID into a name.
This complexity is why we haven’t started on it yet. Our priority is to focus on developing the drive and video website first. By doing so, we’ll better understand the actual needs of content creators and users. Once we have a clearer picture of the genuine requirements versus those that might be less critical, we can then proceed with designing and implementing the naming service. Thank you.
Database Mining Requirements🔗︎
Thank you. For the next question is, will separate requirements be formulated for computing and database resource nodes, or existing requirements would be applicable?
The performance of the computing layer largely depends on the capability of everyone's mining node. Currently, the requirements for mining nodes are not very demanding, but database nodes do require more memory and better performance, particularly with SSDs. While the specifications for database nodes are somewhat higher, the difference isn’t substantial.
If your existing node meets the necessary specifications, you can certainly use it to run additional services, such as a storage node (SDS) or other database nodes. However, the node must meet the required specifications for these additional roles. You can also set up separate nodes for different functions if preferred. Ultimately, we don’t mandate separate nodes for each component, but if you choose to combine them, your node must be capable of handling the new requirements.Thank you.
Tokenomics Update🔗︎
Thank you for the explanation. We’ve observed that the community is eager to continue participating in the computing and database aspects.
Could you provide an update on when a draft of the revised tokenomics will be available? Specifically, we’re interested in seeing how the new tokenomics will incorporate the functioning of computing and database resource nodes, and whether these aspects will be separately accounted for, as mentioned in the user charges section of the current tokenomics version.
That’s a very good question and a complex one. We’ve been considering this for some time and plan to continue using the Ozone concept, which focuses on data traffic—both uploads and downloads. For the database, which involves storing data, the Ozone concept remains relevant as it also pertains to data size and traffic. We will continue with this approach.
However, the new tokenomics to support database and computing power are not yet fully developed. We are discussing this internally on a weekly and monthly basis. The outcome will depend on the performance of the test network for the database. Initially, there may not be any tokens associated with this, as we first want to experiment and identify the best approach.
Eventually, we plan to integrate the new database-related economic components into the existing tokenomics. While we are aware of models like Arweave, which introduced a new token (AO) for their computing network alongside their original token (AR), we do not intend to directly follow their approach. Instead, we aim to carefully develop tokenomics that best suit our community and network.
At this stage, we don’t have a mature solution to share, but we are actively working on it and will keep you updated as we make progress. Thank you.
Stratos Drive🔗︎
Thank you. We will keep the community updated on any decisions regarding the revised tokenomics to ensure the best outcomes for the project.
If there are any additional questions from the audience or if anyone would like to share their perspectives and ideas, please feel free to come forward.
Additionally, Bin, I understand that this week we began sharing more about our Stratos Drive. This application has been highly anticipated as it will offer services to individual users. Could you provide more details and discuss the plans for the Stratos Drive?
Our Stratos Drive is designed to be similar to popular services like Dropbox and Google Drive. Users can upload and download files, create folders, and manage their files more effectively. For example, you can organize private files in one folder and public files in another. When you want to share a file, you can generate a shareable link to send to friends or post on social media.
We aim to attract a broad audience, not just those familiar with crypto. To encourage adoption among Web2 users who may not be familiar with cryptocurrencies, we will offer Stratos Drive for free.
To make this feasible, we’ll launch a grant program. Users who download the application will have the opportunity to claim free Ozone tokens—used specifically for storage—through the drive. Unlike STOS tokens, Ozone cannot be traded or transferred between wallets. This helps prevent abuse of the system. Users will receive a storage capacity of 10 to 20 gigabytes for free, similar to the initial free space offered by Google Drive.
If users exceed their free storage limit, they may be able to earn additional Ozone tokens by participating in promotional activities, such as sharing their experiences on social media or engaging with our promotional content. This strategy not only attracts users but also encourages them to explore and use the drive extensively.
Our goal is to convert these free users into paying customers or Stratos holders. Over time, we hope users will choose to purchase Ozone directly, become part of the Stratos network, or even contribute as miners. This approach allows us to gradually build a user base and transition them into the broader ecosystem. Thank you, Claire.
NVIDIA Program🔗︎
These details are definitely exciting for our community members, and we're looking forward to sharing more about Stratos Drive. We are preparing various campaigns for the launch, with different themes to encourage people to use and share their experiences with Stratos Drive. Stay tuned for updates, and if you have any suggestions for campaigns or ideas you'd like to see, please share them in our Telegram community chat.
I also noticed a question about the NVIDIA program. Could you provide more information on that? The community is eager to learn about its progress and current status.
Since joining the NVIDIA program, we've received invitations to various conferences and updates on CUDA program developments, including the latest GPU offers. Initially, we planned to focus on computing power, particularly GPUs. However, after reassessing market conditions and our partnerships with decentralized GPU training projects, we realized that the GPU landscape is highly competitive and saturated. Many GPU mining projects suffer from instability and low performance, with only a few top projects maintaining consistent quality.
Given this, we decided to shift our focus. We identified that the real challenge in AI training isn't the availability of GPU power but rather obtaining valuable, high-quality data for training models. Therefore, we've chosen to concentrate on our decentralized database, which is crucial for AI infrastructures.
Our decentralized database can serve as an AI database, allowing projects to share and reuse trained data, potentially reducing the costs associated with GPU-based training. This strategic shift means that we're postponing the development of computing power and networks in favor of advancing our database capabilities.
As a result, we no longer require as much involvement with NVIDIA's program or frequent updates on GPU hardware and software. This decision reflects our broader strategy to focus on data and database technologies rather than competing in the crowded GPU space.
Thank you for understanding the rationale behind our decision.
Increasing Liquidity🔗︎
Sorry, I thought I was offline for a second. Also, there's some questions in regards to liquidity. How do we plan to increase the liquidity? That's an all the time question.
That’s a great question. We have indeed made some progress in this area, though it's incremental. We’ve submitted applications to participate in Binance’s BNB Greenfield program, having filled out the form twice to express our interest in becoming a storage provider. The final decision rests with Binance, and we await their response.
In addition, we are actively collaborating with OKX wallet and OKX DEX. We are also in discussions with several other prominent exchanges, each with their own DEX platforms. These exchanges prioritize high daily trading volumes and prefer tokens that are already integrated into their platforms. Our current strategy is to enhance the liquidity and trading volume of our token by listing it on these exchanges. We aim to build trust and demonstrate the value of our token over time, which may increase the likelihood of being listed on their platforms in the future.
We are also working with third parties to boost trading volumes and facilitate easier trading of Stratos tokens across different exchanges. Presently, our trading volume is stable at around half a million, which, while still modest, has shown improvement over the past few months. We understand that increasing trading volume is a gradual process and cannot be achieved overnight. We are committed to steadily growing this metric and will continue our efforts to enhance it.
Thank you for your interest and support.
Future Plans🔗︎
Thank you, Bin. And one last question. I know today we actually answered a lot of technical-related questions.
So For the non-technical users, could you maybe tell us in general terms that what are the next steps regarding the project?
What are your personal expectations and desired targets for the long run? Where do you see Stratos in a year from now or even five years from now? Just for the general community audience who are not that technical.
For non-technical users, Stratos Drive is definitely something you can try. Even if you don't have Stratos tokens, it's very easy. You just need to download it, create a wallet, claim the Ozone, and then you can start using it. That’s one option. We will continue to use this method to let more people know that the Stratos wallet is accessible to everyone. If you find it useful, or if you have large amounts of data you want to manage, you might eventually consider buying Stratos to purchase more storage to save your data or even become a Stratos holder. If more users find it comfortable and effective, they might also encourage their friends and businesses to use it. This is one way to increase participation. As more people use Stratos Drive, the daily traffic on the Stratos Network will grow.
In this case, our miners could benefit more, their mining machines would be busier, and they might add more nodes to the Stratos Network. For end users, our goal for next year and the next five years is to remain focused on data. This includes saving data, uploading data, downloading data, and sharing data. For databases, we handle different types of data, including traditional schema data and untraditional AI vector data. This data is more accessible for various scenarios, such as AI applications for facial recognition and recommendations.
In the near future, for example, in five years, AI will still be a top topic. Everyone talks about AI and thinks about AI. However, AI needs data. Current AI systems have consumed much of the data on the internet and continue to crawl for more, which affects privacy. Your data belongs to you, but when it’s on the internet, it can be gathered for free. Stratos wants to be like an island in the vast ocean of data. We want to be a solid island that protects human data. If you put your data here, not on Google, AWS, Microsoft, or Twitter, it’s not gathered for free. If you want to share your data with AI, maybe they will have to pay for it, or you might choose not to let AI access your data.
In the long term, over five years, we want Stratos Network to be the solution or the island that protects human data. If you trust us, you can store your data here. Our long-term vision is to cooperate with AI to provide a solid solution for saving, processing, and improving data, while also offering a way to protect your privacy from AI and large centralized companies. Stratos is dedicated to data, and this commitment is part of both our short-term and long-term plans. Thank you.
Ending🔗︎
Thank you so much for sharing yours and the team's vision with all of us again, especially during this turbulent market overall. I think this really wraps up today's Stratos Community AMA. I thank once again everyone for tuning in and joining us today. I hope you enjoy the rest of your summer, and we'll see you in the next Stratos AMA. Thank you, everyone. Have a great day. Bye-bye.
Thank you, bye bye.