AMA on XT 21.04.2022
Last update: April 04, 2023
STRATOS AMA transcript with
Hello Bin , thank you for joining us for the XT and STOS AMA! @NotBoxBin
Thanks Blake for having me. Greate to meet all you guys tonight My name is
Hi Bin! For those that are not familiar, can you briefly describe Stratos and what problems you are aiming to solve?
Stratos is a decentralized infrastructure project which provides scalable, reliable, self-balanced storage, database, and computation network. Stratos is born for scaling blockchain process capacity while retaining the decentralized benefits of a distributed protocol including trustless, traceability, variability, privacy, etc. Stratos provides decentralized Cloud services to the blockchain industry and traditional industry as well to reduce the complex issues when developer work on the decentralized world. Stratos invented a new consensus Proof of Traffic which means all the miner’s rewards really depend on the traffics they served.
Sounds impressive! Can you elaborate on the differences with Proof of traffic compared to POW or other consensus?
Thanks, that’s a great question PoW: Proof of Work, the hashrate, computation power to calculate the hashcode PoS (Filecoin): Proof of Storage There are 2 points to compare with different consensus
1. Economy PoW and PoS are the similar to the traditional business. Calculate more hash code, Store more data like transport more goods via the truck to make more money. But in the Internet business, traffic not storage, more traffic, more eyeball, more attention, more advertiser profit. So traffic is the most important measurement for value.
2. Network health and performance Proof of Storage will only encourage miner to keep increase the storage size instead of the mining machine performance. That’s the major reason the Filecoin network performance is not that good, the uploading/downloading speed are not good as well.
Proof of Traffic cares the entire mining machine performance instead of any single part. If the performance of the mining machine is bad, the miner can’t earn much reward, the miner is encouraged to maintain the machines. Stratos believe, the only way to keep the network in the good shape is keeping each of node of network in the good shape.
So PoT is better and more health consensus than PoW and Proof of Storage of Filecoin.
How does the STOS token function within the platform and why is it needed?
Users of the Stratos network are debited STOS tokens based on their volume of data moved through the network. The Proof-of-Traffic algorithm transparently charges the user based on indisputable transaction records recorded on the Stratos Blockchain.
STOS token utilities:
- STOS will be staked/delegated to validators to secure the Blockchain network.
- STOS will be issued as Proof-of-Traffic mining reward.
- STOS will be consumed in the payment of the transaction fee.
- STOS will be prepaid for Stratos Resource Network service traffic fee.
The current status Market cap = 25M Fixed supply =100M Circulation supply =27M Mining allocation =40% for (68.8 Years)
BTW, all the early investors tokens were released already
Could you share the development status and progress of the project thus far? Including the major partners and perhaps some operational data.
Stratos delivered 1. Stratos blockchain testnet 2. Stratos Storage tesetnet 3. Stratos Storage incentive testnet 4. Stratos Wallet desktop version for Windows, IOS and Linux
There are more than 50K Storage nodes participate the testnet, uploading/downloading performance is very good. It only take around 7 seconds to upload the 200MB file.
We already built lots of partnership. For the future, there are more and more projects could take advantage of Stratos services.
For example, Stratos decentralized Storage and CDN, SoMee works with us very close and integrate their platform on Stratos. The NTF projects will realize Stratos storage is more suitable solution for them.
DeFi, GameFi, Metaverse need the decentralized database for storing user’s profile and system parameters.
Decentralized computation will offer difference services, like “Video Streaming Encoding”, “API”, “IoT edging computing” etc.
Project Category ——————————— SoMee SocialFi BoringDao DeFi ColdStack Storage Firework Games GameFi Amy Finance DeFi/NFT Prosper Prediction Markets Coinversation DeFi Bitspawn GameFi Prometeus Labs
Who will the users/clients be on your projects and what are some examples of use cases for them?
As decentralized cloud service provider, Stratos could provide blockchain, storage, database and computation services separately or combined for any blockchain project or traditional project as well.
There are use cases are
1. Accelerated Network (Decentralized CDN) Stratos decentralized storage not only allows users to upload and download data efficiently but also allows users to directly play audio or video across the network without downloading it in advance. For every user or developer, this will be an important feature. Developers can use this feature provided by Stratos to make a future “Decentralized YouTube” or “Decentralized Apple Music” possible.
IPFS/Filecoin can’t guarantee no data lost Arweave is too slow to use in the real business case.
So the most NFT projects are storing the NFT digital assets in 2 differnet places, one in Filecoin/Arweave and the other in centralized storage, such as AWS S3 or Google Storage for accessing efficiently.
Stratos high performance decentralized storage will solve this problem.
2. Enhanced Oracle Stratos decentralized database can help to build a new Oracle platform. In terms of data security, which is what people are most concerned about, Stratos does not rely on economic punishment to prevent nodes from evil-doing, like other oracles, but can fundamentally use technology to directly ensure that the data cannot be tampered with. In terms of data structure, Stratos completely removes the limitation that the blockchain on the market can only store ledger information. The Stratos decentralized database can support a more diverse data structure and can better collect data of different dimensions from different sources to perform cross calculations to ensure the credibility and richness of the final data output.
3. Decentralized Social Media The key to decentralized social media is equal rights between accounts and the ownership of each account’s data. Stratos’s decentralized database can fully guarantee equal rights and data ownership, and prevents the centralized voice from drowning out the voice of any personal account.
4. Edge Computing and IoT Stratos not only encourages small data centres to access the network as a whole but also welcomes individual nodes to access the network to provide decentralized computing services. Small data centres can form the backbone of the Stratos network, the information highway, and individual nodes are the branches and leaves of the highway. Although the computing power of individual nodes is limited, individual nodes can take advantage of the low latency of the network to provide users around the node with edge computing services required by smart appliances, smart home networking, and industrial IoT devices.
What is your strategy regarding attracting more users to your protocol?
Stratos is a decentralized infrastructure service provider, so most strategy for blockchain developer to show Stratos capabilities, solid, easy to use and entire service package instead of building your dApp among multiple complicated services. For traditional business, such as Video/Stream website, Stratos will offer very competitive (90% off) price to them for using Stratos decentralized CDN services. So the price will be the way to open the door of traditional business.
Let’s talk about the current landscape of other projects doing something similar. What separates you from some of the competitors?
Let’s talk about 2 cases
Computation part: ICP and some other decentralized computation project would like to provide the computation container like docker, but in the most case the container is too flexible to use.
Stratos computation will take the different way, we will deliver the computation business case by case, for example Video stream encoding service, special IoT computation services. Stratos also would like to cooperate with community, deliver more computation case together on Stratos decentralized computation. The Stratos decentralized computation will be similar to the App store, choose the one you need.
Storage part, comparison between Filecoin and Stratos
The biggest different between Stratos Storage and Filecoin is the Concensus, Proof of Traffic and Proof of Storage. Please let me do a quick comparison from 2 sides.
1. Economy In the traditional business, capacity is the way to measure the value or reward, for example a bigger truck can transport more goods than a small one, so it can earn more. But in the Internet time, capacity is not an efficient way to measure the value any more. More traffic, more eyeball, more attention, more advertiser profit. No any internet companies mention they are the biggest one who own the most data, they only tell the market how much traffic they have per day per hour. So in the Internet industry, Storage is not the measurement of value, but the traffic is.
2. Network health and performance Proof of Storage encourages the miner to enlarge the storage to earn more File coin, but doesn't care the performance of mining machine much. Proof of Traffic is very relevant to the performance of an entire mining machine instead of any single component such as computation or storage. So Proof of Traffic will encourage miner to maintain the machine and keep the mining machine also in good shape to earn more.
Stratos believe the network performance really depend on each of mining machine performance, if each mining machine performance is good, the entire network performance will be good, otherwise, the network performance won't be good enough to run the business case.
What unique experience does your team bring that puts Stratos in a position to be successful?
As the founder of Stratos, I have over 20+ years of experience in software development across multiple platforms and technologies. Previously, I was the cloud department founder of MindGeek, where I built the complete big data ecosystem and led the entire team to provide data services to more than 100 millions users per day cross all the country in the world. I was also technical cofounded of Faimdata, an AI company providing consumer data intelligence solutions via computer vision for retailer customers. With experiences working across the generations of technology innovations, I am leading the Stratos team to build the next generation of decentralized data mesh that enables the uses of blockchain technology across industries.
Stratos team is formed by a group AAA developers which come from Canadian National Railway, Amazon, Expedia, Huawei, Alibaba etc. Each of them has top enterprise level development experience.
Also, there are around 1/3 team members come from the same company Mindgeek like me, they worked with me for building big data platform. Each team member will take advantage of rich developing experience to contribute to the Stratos project
What does success look like for Stratos? What are the biggest risks and challenges Stratos will need to overcome to consider the project successful?
When massive adoption happens with Stratos, that's the success Stratos is waiting for.
Stratos DEV team faces the challenging code/performance/issue every day, but we have confidence to solve all the problem and keep delivery ability.
In the market side, we would like to link to major blockchain project and traditional project, cooperate with them, that will be challenge for us in business side. I know it will take time, but we will get them eventually.
How Stratos compare to the centralized cloud?
AWS the biggest Centralized Cloud provider in the world. It contains lots of complex services which are defined to IaaS, PaaS and SaaS in the different level.
Stratos provides 4 different services, blockchain, storage, database and computation which are foundations of decentralized services which we can consider them as Platform as a Service level. On top of those PaaS, Stratos team, communities and collaboration parties will build diversity decentralized software applications (dApp).
The availability and experience, to be honest, in the short term, the Stratos can't beat the centralized service provider, like AWS. But Stratos' big advantage are transparency, data ownership and self-developing organically by the user request and incentivization, the most important point is release the freedom voice from people and won't let giant abuse your data and silence your voice.
In the long term, with the size of Stratos network bigger and bigger, the availability and experience of Stratos services will be getting better and better, the decentralized provider Stratos will beat AWS and others eventually.
KaptinBlack 🕴🏽, [4/21/2022 5:51 AM]
Hey there Bin 🖐🖐
Part of the operational Data you provided earlier was "Stratos Wallet desktop version for Windows, IOS and Linux"
I'd like to know, Why did Startos come up with her own wallet,
Also, when compared to other wallets, What are the advantages over other wallets.
Are there any special incentives for using the Stratos wallet?
Stratos wallet is not only a wallet to store token and execute transactions, Stratos wallet is a entire portal of Stratos ecosystem, it can allow you to upload/download files, also play videos from Stratos wallet directly.