Dr. Yaoqi Jia discusses Altlayer's Web3 scaling solutions

0:01I'm Ashen Addison from blockwest capital for investment pitch media and today on the Crypto Coin Show we have Dr yoi Gia the founder of alt layer yoi welcome to the show and thank you for taking the time today yeah thanks for your invite and it's great to be here and to share about Aller with all with everyone yeah likewise I know your insights into

0:26blockchain and the scaling Solutions needed to take us to mainstream adoption are are great and I'm excited to dive into your knowledge and what your team is working on with alt layer so let's break right into it with starting with an overview of the main solutions that alt layer provides and how you're helping the blockchain industry yeah absolutely so at earlier

0:52right actually we're building this application tailored roap solutions for deps across different chains as you know right for different a1s we have all different scaling Solutions like charting even some of them have this like zones or parach chain or events of nights and but when we have a lot of popular application like MTS and games for the past one and a half years right

1:17typically the that introduce a lot of traffic and sometimes congest a network or even cost a network store in that case we really need some elastic scaling Solutions basically to offload these traffic and pressure from the air ones to a dedicated execution environment that's how Aller like jumps into the picture so at Aller right we are providing a new service called flash

1:41learing technique basic what we can provide like for developers so they just need to click a bunch of buttons and then the protocol can quickly initiate a dedicated rollup solution for them so for example for the F project right you can just do the F meet on this dedicated rollup and users can interact with the contracts and all the like Logic on this roll up and then once

2:07the mint is done so the roll up will be tear down and then all the states and have will be roll up to the select L1 in that case as you can see right all the pressure and load will be handled by the oers fresh bearing technique and basically the througho is very high and low latency and low gas fee so this is the very unique Technique we call

2:32flash laring technique and meanwhile for all right we are also providing this kind of execution with both evm and onm compatible that means for developers they can just deploy Sol contracts on this L without any modification and meanwhile for some new ZK libraries or even game and FTS Cas even they are not compatible with eum but we can help them to compel into like wasam so

3:01the contract can call these libraries and apart from that we also like Ming support that means like for different applications once they use Aller so we can help them to rule out the states and into multiple CHS not just like etherum and evm Machin and also WM machins so that sort of like like like the stuff all we can provide Bic a dedicated execution environment for the

3:27applications and the appli can enjoy the like so environment and later on we still roll up all the states back to the c l on yeah great intro yoi and there's two points there I wanted to focus on and get a bit of a comparison you know you talked about ethereum and the evm chains needing to scale up because they're slow and expensive at times when

3:54there's congestion but you also mentioned the multi-layer faucet of it and how the fure supposed to be multi- chain and be able to connect you know Defi and transfer assets really easily through different chains and I feel like right now with Bridges and the way decentralized exchanges are they're sort of isolated and it's hard to do that does ALT lay provide that kind of

4:18solution as well or what's the sort of the main focuses for you yeah for all I think the very unique part compared to the other scaling solution that is really about the application tailor the direction so that means like for us we directly work with a bunch of Partners like ft and game projects or even some directive like decentral exchanges so because they

4:45have a lot of users and typically they need to handle a very large volume of users and also requests in that case they need some dedicated execution environment to handle these requests so for them right even the previous you want to work with some l1s or l2s because for most of l1's l2s they are sort of general purpose so that means like for each1 you may have tons or

5:12thousands applications to compete for the same block space so in that case like even for the A1 it can has like probably tens of thousands like TPS but still once you have so many applications like they must be congested in somay once there are a lot of user for each application and for us we know that for the next 3 to five years there will be sort of the application word especially

5:40in web three so in that case like for some popular applications like they definitely need some dedicate execution rment so for us we want to provide this application specific ruler for them so they can just enjoy the dedicated blog space and to handle all the users and the requests like there are a bunch of very I would say well-known examples like x

6:06infinity dydx and also the ug Labs right at the beginning they have their applications somehow on etherum but later on once they have more users they either work on their own application chain or they are seeking for some scaling Solutions and for us we believe that in the next two three to five years there will be more and more these kind of super applications so in that case

6:31like at all right we can provide the dedicated execution environment for them and to handle this kind of the scaling issues and as you mentioned right in the future it may be a multi chain work so another thing Aller we can provide is also is also about this mul chain feature so that means for example for empt project right once they launch something on the Aller so later

6:59they can choose like which L1 they want to have their mty to be settled so if they are if they are sort of like GL to be have having multiple FS on different like chains like etherum or polygon and B&B and then we can have them like once the mty mint is done so we roll up all the MTS and some of the MTS are etherum some of them are polygon some of them

7:26B&B so they can enjoy the liquidity and volume of all different chains so that some like very special and unique feature we can provide at the moment yeah wow very cool and I want to dive into the nft minting solution as well but first I want to ask about you know the applications that are trying to reach mainstream adoption as you mentioned there are some great examples

7:51like dydx axi Infinity but I feel like we're very very early you know we can count on one or two hands the amount of applications that require the flow through of you know millions of users from The Real World but I hopefully eventually there's going to be hundreds and thousands of applications on the blockchain that will be having millions of users and that 3 to 5

8:16year plan that you spoke about I feel like that goes in line with that so with that said how I'm curious on how far along the project is you know how long have you been working on it and what's the current state in that alt layer is at right now yeah so we started like end of last year and right now we already for the past a few months

8:44right we spent like lot of time on the technical development and we already have the test night running internally and at the same time last month we did the very first F me for our o bat using our flash layering te and we got over 20,000 people registered and all the F basically Meed within 18 seconds and there's no gas wall it's first car first serve and there's no

9:13nwor congestion and after the mint we roll up all the F back to ethereum people can trade the sort of the FTS at open C like everything was very smooth and right now the Flop price I think is over 0.35 e something like that and Bic as you can see right for the fresh laring and F me we already have a very mature solution at the same time we

9:39we are trying to have more features like for example like to make sure like we can roll up the states and like all different assets to multiple chains yeah right now we can support like etherium polygon and BB and gradually we would like to support more and yeah at the same time as you mentioned right we are also actively looking for some Partners

10:03either in F gaming and also metaverse space and the meanwhile we also talking to some this top tier social network applications and also some like decentralized taxes and just to figure out like what are the demands and also requirements from these future super applications as you mentioned right probably right now we don't have many but for the next three to five

10:30years we may have like tons of thousands these super applications we would like to work with the application and help them to scale their user base probably to like thousand users and to probably a million users in the future yeah wow the nft minting solution that you've created it sounds efficient and I'd love to see it used on a larger scale and hopefully become some

10:55kind of industry standard where it's it's fast and easy to create the nfts and then make them easily tradeable as you mentioned moving it to ethereum with that minting solution as a major part of alt layer what is your vision on where you see it being used most in nfts are you looking at partnering with large games or will it be other know profile pictures or what do you see in

11:22the evolution of nft 2.0 and where the next stage of nfts will go into the mainstream yeah I like the term you mentioned the F 2.0 it's it's basically some new use cases of FS probably as you mentioned right more and more games probably they want their items to be like tokenized as F and for us like we believe that in the near future right F definitely is a huge market and because

11:51we have lot of sort of resources can be some like s of tokenized as FPS apart from the G games we also have like different content right like blog post and even some of the video audio and audio resources actually can be treat as F onchain and for us right now in our pipeline I Tre a bunch of like games we are trying to work with them and apart from like have the

12:20items like as empty on these different like air ones we are also working with them to figure out like what are the potential game logic can be hosted Aller because previously as you know right due to the high gas and also n congestion of different air on a lot of games they couldn't really find a lot of onchain game logic on these L on but with our technique right apart from

12:47the fs for the items and the access to the games actually they can have more functionalities and features to be onchain and one thing I believe we learned from def summer and all the sucess of the def application right once you have like a lot of resources and data and asset oning and then people can do this can of Def Lego right I think it will be the similar story for Ft 2.0

13:15once we have more on logic of games and also the assets and so that means for the other application they can basically work work on their own interfaces but connecting to the existing data and assets to build some like new Legos on top of the existing FTS and that's also something we work with our partner to figure out like what are the new scenarios and use cases like on the

13:44fs from the games or even social network applications and that's basically I would say once we all we work with application right actually we can unleash this potential of the games and acties and all the new projects yeah very exciting and you mentioned there about the user experience I'm curious on alt layers approach to making a good

14:10seamless you know user interface that you don't have to be a developer to start using a layer two or to Mint the nft say it's your first nft that you've ever minted or you're just getting into cryptocurrency how is your team approaching you know making it usable for the main stream that doesn't have technical expertise yeah so it's a good question

14:35so for developers right we try to make it as convenient for the developers to use our technique technology as as possible so that means we really have a lot of parameters and configurations and easy for developers to config and meanwhile like for the our own lar to solution right so that means for developers we already have a lot of things like quite flexible

15:03including broad time and also number of these producers for the lar to and also also about the gas mechanism so for some developer right if you don't want to have the gas World typically we also have the first car first serve mechanism for these developers so they can easily like configure these Advan of features but I add this earlier and so what you

15:28can do like click a bunch of buttons and config some of the parameters and then we can the protocol can automatically launch or spin off this kind of dedicated layer for the developers and then they can just work on their own like expert part right expertise part like this game development or the smart contract development so they can deploy the solid contract on this layer and

15:53then for the user right as you mention right probably some users are not familiar with crypto and for us like we are also working with some wallet Partners so to figure out like this kind of session wallets and to make sure like they don't really need to like they don't really need to configure the wallets or basically convert some crypto and they can just quickly do the

16:19empty means basically click a bunch of buttons and then they can just do the means and then we will have them I mean the protocol will help them automatically roll up the ft from the layer to the ethereum so they can directly trade these FTS yeah that's something we work with our partners and basically try to simplify almost every precise for the developers and users to

16:43have a much better experience to use all year yeah definitely I understand it's important to have the best developer experience otherwise there won't be any apps developed for the users to use so but it is a balance between you know having all this great Dev expertise and Catering to the users to make it usable and have that Network effect

17:07that everyone starts using yeah now I want to look forward yoi on the plan you know you mentioned 3 to 5e plan I think that's a great time Horizon for blockchain because things move so quick and you really need to be focused on you know mid to long term otherwise you'll be constantly changing and keeping up trying to keep up to the latest new

17:32narrative so in you know the first half of that in the next two years or so what is the vision for alt layer and what needs to be done to become you know a staple in the scaling solution that most of people in cryptocurrency are using yeah so for us right for the next two years what we would like to achieve is really about like as we just discussed right make all layer as

18:01the goto platform for most of the developers to sort of spin off the layer to solution for the applications so that means like we really need to work on the technical development to make the interpr size as convenient as possible so like so basically it's not like intrusion for the developers to select earlier as a skinning solution as as I just

18:27mentioned I would believe like for the next a few years the application will become like sort of the Paradigm shifts from the protocal thesis to this application thesis in that case like like earlier we would like to provide this application tailored RAB Solutions with is evm and wasm compat compatible execution rment together that s forite to as many chains

18:56as possible so then for the Developers yeah the first of first developers so easily for them to choose us at go to platform and then spin off the layer and then also we would like to provide very similar user experience for the users so users don't really need to like sort of install the metamask or some other wallets and then need to convert something into crypto we would

19:20like to have everything integrated into the like sort of the protocol or our product so both for both developers and users they can experience the very similar like either developer or user experience to use us so like basically we would like to become the goto platform as the infrastructure provisioning platform for the developers at the same

19:47time it would be great like we can also help this application to attract as many users as possible yeah mhm the future is bright I'm looking forward to seeing alt layers growth I will be following along and for the viewers that want to follow along with the updates and get in touch with the social communities as well what is the best way to follow

20:07along with the future updates for Aller yeah of course you can visit our website it's.io and meanwhile we also have the Twitter and Discord and we will just keep everyone posted with the latest news and also updates either on the technical development and also we also organize a bunch of the community event like like recently right we just

20:31started another campaign basically running the D Forest Aller so people can try out this try out to play this that for game and we also have some rewards like theb FTS for the top winners yeah so but the goal is really to demonstrate like how easy to deploy the game on using Aller at the same time the user ERS or the players can re

21:00experiment that it's quite simil it's very fast and there are no congestion you don't you don't need to wait for a few seconds it's immediately like within one second you can have your operations actions done and yeah that's that's the goal we want to achieve just to showe that Aller can really become a very smooth technology for the developers and also users to use yeah

21:26great looking forward to it yoi and yeah a few seconds when you have millions of users it makes a big difference so I'm looking forward to some fast gaming moving forward thanks for those links I will leave them in the description box below as well for alt layer. and the Social Links for easy access for the viewers thank you so much for your insights into scaling blockchains and

21:50the future all the best with all lir moving forward and let's follow up in the near future yeah thanks a lot Ashton and yeah great talking to you today yeah hope we can rebuild a great like ft 2.0 yeah