Last week, we released a form where our community members could submit their burning questions about KYVE, our recent milestones, and more. On October 11th, our co-founder Fabian Riewe took to Telegram to answer ten of the many submitted questions. Those whose questions were chosen won an exclusive KYVE POAP.
We also hosted a short quiz at the end of the special event, allowing the first person to answer correctly to also win an exclusive POAP. For those unable to make the AMA, let’s give a quick run-through of what questions were asked and how it went!
Starting from the Top
[Paul/Monitor]Can you please introduce yourself?
[Fabian]Hey guys! My name is Fabian and I am one of the co-founders of KYVE. Together with John, I founded KYVE almost one year and a half ago from today. I am a passionate Software-Dev and got into the Crypto-Space in 2019. Since then I am hooked on all the exciting things happening.
[Paul/Monitor]Can you please introduce KYVE and the problems we solve for the newcomers?
[Fabian]The big problem with Blockchains is, that they are constantly producing data. More data needs to be stored by more and more nodes which gets more costly. Because it gets more expensive, nodes might shut down, leading to the centralization of a Blockchain. KYVE allows protocols to store the data permanently and retrieve them at any time. This will enable blockchains to become leaner and enable more nodes to participate.
[@golden sea]As a data lake service provider, my understanding of KYVE is that the user’s positioning is for developers. For ordinary individual users, if they are not developers, how should they participate in KYVE protocol？
[Fabian]Non-Developers can participate on KYVE Network by staking and delegating tokens to provide security to the network and to participate in the Governance. There will be a lot of discussions happening around KYVE that are not tech related.
[@carnage_dima]Are other programs like Mission Korellia planned in the future?
[Fabian]No, we don’t have any other incentivized testnets in the future, but we will have other incentivized programs like hackathons and bug bounty programs.
[@FikrilO2]What if KYVE archived DeFi user data?
[Fabian]KYVE could do this, I think this would be a very cool use-case. Analysts and developers coils then use this data in their applications. You can find more details on this in one of our previous posts actually:https://twitter.com/KYVENetwork/status/1572224029700030471
https://twitter.com/KYVENetwork/status/1572224029700030471
[@cwfwyn]As AR middleware, can KYVE be used as middleware for other storage projects? For example FIL
[Fabian]Yes, you can. KYVE is storage-provider agnostic and you can write your own integration. This is the documentation for it:https://docs.kyve.network/developers/adding-data/custom-storage-provider.html
https://docs.kyve.network/developers/adding-data/custom-storage-provider.html
[@Hanters15]The decentralized data is getting stronger, can you tell us about the similarities and differences between KYVE Network and other Data Solution projects?
[Fabian]KYVE stores the raw data and makes it available for developers in a truly decentralized way. A lot of other data projects just offer a Web2 service with Web3 data.
[@Oda_1996]How can KYVE Network truly guarantee the trustworthiness of data providers and will there be governance mechanisms to ensure that they don’t join the target to collude with the system?
[Fabian]Yes, there is a governance in place to take care of those actions. The chain also has a lot of automatic detections in place. You can check out how our governance is structured via our docs:https://docs.kyve.network/users/governance/overview.html
https://docs.kyve.network/users/governance/overview.html
[@joao1dao]In Web2, there are different data architectures: warehouses, lakes, mesh, etc. Do you see the same in Web3 or will data architecture evolve completely differently?
[Fabian]I think that we will see more data lakes like KYVE that store all the raw data. Working with data requires different architectures and technologies. With a raw-data lake, developers can choose which technologies to use best for their use case.
[@GojoMazino]When exchanging data, let’s imagine that a dishonest data provider is caught, from what I understand his funds will be sequestered in the archive pool and will be confiscated. My question is, who recovers his funds and how are they distributed afterward?
[Fabian]The node’s stake will get slashed if they upload incorrect data. The slashed tokens will be sent to the treasury. The community can then take control of these tokens.
[@everyonelsequal]Do you fear burnout, and if so, how do you find the strength to motivate yourself?
[Fabian]I think that a good work-life balance is very important. It is okay to decline meetings that are usually out of your time zone. I am also doing a lot of sports to reduce stress and fill out my evening to avoid taking late meetings or working endlessly.
[@V44111]Will you create pools on L2 (e.g., starkware, zksync, optimism, arbitrum) for lower costs and/or on chains oriented towards privacy (e.g., nym, secret network) for storage respectful of privacy?
[Fabian]Yes, anyone can always create a pool. Creating those pools is permissionless and can be deployed through our governance. I think that new pools are always a great addition to the ecosystem. Feel free to explore the current pools on our testnet:https://app.kyve.network/#/pools
https://app.kyve.network/#/pools
Announcing POAP Winners
In the end, @golden sea, @carnage_dima, @FikrilO2, @Hanters15, @Oda_1996, @joao1dao, @everyonelsequal, @V44111, @GojoMazino, @cwfwyn had their questions chosen and won the exclusive KYVE POAP!
After a great Q&A session, we opened up the chat for a rapid-fire quiz. We were pleased to see all the participation from our community! The winners of this being: @Batigoal_189, @BTC20081101, @luckydraw66, @sky5138138, and @nickuiii.
Winners can contact the official KYVE team via telegram to claim their exclusive POAP.
Thank you to all who participated in this month’s AMA special, and for your continuous support! For those who weren’t able to attend, don’t fret! With many more KYVE milestones to come, you can expect more special KYVE AMAs in the future.
About KYVE
KYVE, the Web3 data lake solution, is a protocol that enables data providers to standardize, validate, and permanently store blockchain data streams. By leveraging permanent data storage solutions like Arweave, KYVE’s Cosmos SDK chain creates permanent backups and ensures the scalability, immutability, and availability of these resources over time.
KYVE’s network is powered by decentralized uploaders and validators funded by $KYVE tokens and aims to operate as a DAO in the near future. This past year KYVE has gained major support, currently backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Distributed Global, Mechanism Capital, CMS Holdings, IOSG Ventures, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.
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