Part 2 $VRSC #VerusCoin Crypto – Interview with Michael Toutonghi #Komodoplatform $KMD #CryptoNews

Part 2 $VRSC #VerusCoin Crypto – Interview with Michael Toutonghi #Komodoplatform $KMD #CryptoNews


hey it’s Dino from Digitspin crypto
now this is part two of our interview with Michael from varus coin varus coin
is a new speculative type of coin the rewards are kind of great at the
moment if you can get your hands on some by mining and you know this is just
another good opportunity for you to learn a little bit more about a
different cryptocurrency we like to give everybody an opportunity to talk about
their projects and bring you on digit spin crypto it’s up to you to decide if
it’s something that works for you and if it’s something that you want to get
involved with but at the same time it’s good to know how other coins are working
so you can compare them to the coins that you invest into and you know what
you’re getting and why so without further ado let’s get to part two of the
various coin interview with Michael it’s doing is it’s taking advantage of a
circuitry that’s inside of the processor that was built just to do the hash and
so basically it is an ASIC inside of the processor a small piece of it so you
don’t use only the one of them but it’s it’s in there and it’s actually
performing so mister it wasn’t built just to do this mash the the developers
of Haraka v2 leveraged this instruction set that was actually developed for
doing a EES encryption to develop this quantum secure short input half and then
we use that core to develop our cryptocurrency hash algorithm okay that
that makes it so tell me about them I want to get into into some of the mining
parts everything but tell me about the delayed proof-of-work functionality it’s just just a quick
paragraph or two yeah now obviously there’s there are light ways of doing it
where you’re not getting the whole chain and you’re just working on a small
subset and then sending back that information but tell me about that
though the the delayed proof of work no basically you know yes you’re right
there are light ways of doing it and it’s done through you know you can you
could validate a specific block just through its block hash because the block
hash of a block you know would be different if any block before it was
different and so by by validating hashes of the specific information that gets
notarized into comodo then you can prove that if you put the same information
meaning a block that is supposed to be that same block into that hash and you
don’t come out with exactly the same number then something is different and
so basically that’s what it that’s what the
delayed proof-of-work is doing is it’s setting up these checkpoints and it’s
making sure that at those checkpoints there’s a hash operation that hash
operation is then notarized through the elected notaries into comodo which you
know you can’t Forge all of the electric or all of the elected notaries or even a
percentage of the elected notaries public keys which are then used on top
of those hashes in order to ensure that what is in fact notarized into that
chain is what it should be and so the delayed proof of work is really it’s
interesting because you know since Asics kind of took over many of the algorithms
there have been a lot of 51 percent attacks that we’ve seen I would say in
the last you know six months especially and a lot of number of coins have have
just said okay whether we started on komodo or not this is something we need
and so I think the Komodo team should tell you who those are I I don’t want to
get the names wrong but I know that that there are some coins that have moved
over to using the Komodo delayed proof of work in order to prevent that 51%
attack and from our perspective we’ve got you know an immediate protection
with the combination of the proof of stake and the proof of work no matter
how much hash power you put on the chain the proof of stake is they’re taking 50%
of the blocks as people win their stakes and that’s a different population of
block validators than the miners so you can put as much hash power as you want
onto our chain and you’re not going to exceed 50% of the blocks but if somehow
you figure out a way to do that if you figure out a way to you know get through
that first layer and beat the statistics and and you end up figuring out
you know create a chain that gets around this 50% proof of stake then we’ve got
delayed proof of work sitting there and it’s gonna stop you at every Check Point
from inventing in history beyond that so you know we believe the combination of
these it was unprecedented security but the delayed proof of work alone is a
major step in a big advances in what Komodo did they had the foresight to do
it in the NED as you mentioned the foresight to get it paid for for many
years to come on the Bitcoin blockchain all right eight basically it comes down
to is that your environment is to protect itself is broken down so people
can mine the coin people can put a whole bunch of them in their wallet and put it
in staking mode and earn the coins and and obviously with the delayed proof of
work so all three of these things working together kind of check and
balance each other and make sure that you if it’s just all proof will work if
you grab the 51% you’ve got it all but you come up against the barrier and now
you have a whole different set of puzzles you would have to solve to take
over and so obviously that adds to the to the level of security for the
environment and pretty sharp stuff so I want to talk to you about this I mean
let me bring this linear you slide you over here let’s let’s bring up this
little graphic I saw this out there and this was talking about the various I’m
not sure if you could see that where you are as well but obviously this was just
talking about the coin itself the launch date which was in May so obviously it
was not that long ago so it says here that you have what 84 million that’s
gonna be the max supply absolutely the max of them over the lifetime of the
corner though I think right now it’s a their knots a
little over 30 million is the total supply and then every block you know
there is some amount added to that but then you have another factor which other
coins haven’t done before to our knowledge which I think you’ve got that
right down at the green there on yes I’m gonna I wanted to get to that part I’m
hoping that I can I can kind of corral you first so I wanted to and let’s see
one thing you know the total supply right now
if you look at the Explorer it’s gonna say the total supply somewhere a little
over 30 million the actual circulating supply is probably closer to 4 million
or somewhere in that range I don’t know exactly right now cuz I didn’t do the
calculations but it’s somewhere probably in the range of 4 million or so okay so
you have 4 million in circulation and you’re saying they identified in that
range and then a total total supply right now of a little over 30 million
that could look at the Explorer to see so how does it get to this 83 million
total supply over many many years of coin emission if that is the level that
it could never exceed you know hundreds of years into the future basically so it
isn’t that considered then the total supply is 83 million in your circulation
is that 4 million or whatever that is currently well the so if you look at
something like aetherium what’s its total supply I don’t know that number
line number which is effectively all of the etherium that has been mined into
existence and it has an infinite max supply because there’s no though you know max supply is max supply
and because we have the time lock switch and maybe I really should mention that
because it ties into why there’s total supply max supply and why circulating is
different a lot of the coins right now are time locked and they’re releasing
over the next two years because the way that the launch happened this was all in
the interest of fair launch as well as to create incentives for people who were
in the early mining not to just you know mine and dump the coins but to actually
mine and and help realize the vision and be part of the community and care about
the project and so so the general release started like this it was a slow
a slow start started at zero coins for the first week it went from zero up to
384 and then there were there are these months as it is having down to 24 where
it will sit actually for about two years and a month and so this start from zero
to 384 and then those first two months every block every block reward that was
192 or above was randomly time locked for unlocking between I think was last
Tuesday it started over the next two years and so as people were mining and
we were mining the foundation was mining and lots of people in the community you
know and around the world were mining as they were mining in those two months
they were earning time-locked block rewards that would unlock for a random
amount of time so you know one might be unlocking
this month one might be unlocking in a year in two months one might be
unlocking you know really in two years and as that was something unique to our
to our emission schedule that we believed would really help create a
community with an interest in building a successful community coin and you know
from the community that we built which is just it’s the most helpful community
that I have ever had the pleasure of working with when you know I think you
may have checked out the discord I’m not sure if you have but I think you might
have you know you you go to our discord and people are nice to each other all
around on all the channels and and people are you know if people have
questions then other people in the community jump in and help them figure
it out and you know I try to spend time there as well and I and also have to
write code and develop things for you know the next stage and the next stage
and the next release but you know we’re right now right now we are in the last
week of the 96 block rewards which are the largest rewards that are not time
locked and we are at the you know because the time lock started unlocking
and we’re at 96 block rewards through the end I think it’s through Tuesday
this is the most supply that will be emitted to the market period in the
history of the coin and you know we have an exchange where people are trading but
we’re not seeing like dumping and that was the goal we wanted people to really
care about the success of the project to to really feel that they’re a part of it
and there are there are miners and stay curse on our discord who are holding you
know time lock rewards that will unlock over the next two years and their goal
is to really make the project successful just as ours is just as the foundations
is and so I think it’s helped a lot it’s a unique thing to Barris a lot of people
liked it some people didn’t want a mine time lock coin so we said okay then wait
until they’re 96 they won’t be time ups but a lot of people really liked it and
I think it’s working well to create a very positive community dynamic around
the project yeah it’s it’s a clever clever way of going about it I haven’t
seen this before so basically to make sure everybody understands out there the
folks that were mining that first two months or of the coin
just because you acquired the coin doesn’t mean that you could go out and
spend it and so basically it was put in your wallet and told that you have it
but it wasn’t transferable because it was locked up until a certain time line
this way everybody didn’t just mine all the major coins and then take it to an
exchange and so on you know for a lot less so yeah no clever idea
I’m glad you explained that and that makes sense getting back to this total
supply so am I miss reading this this is not Mac supply this is what I’m looking
for is supply the only reason that I made the
distinction between Mac’s total and circulating right now is
because since this infographic was made people have asked to differentiate these
things and because we have this time lock factor it’s kind of important
actually and so okay all right so all right let me stop all right now I get it
so we have our maximum supply of 83,000 we have a total supply which includes
locked and unlocked Kines and then you have your circulating supply which is
just the unlocked coins thank you exact attic and I wanted to make sure
everybody out there understood it why there was three numbers there good all
right let’s see what else was on this little chart here if I had any questions
transaction fee I write mining algorithm the varus
– that’s the mics very various hash alright so I got all that good stuff and
that makes a lot of sense and so I you know I wanted to understand this mining
a mission curve obviously it’s going in half here after the 24 block reward that
goes on for two years what happens then what does it go down to does it keep
going in this half years so 24 for two years then and then having to 12 for two
years and then having to six for two years and then having to three for two
years and then one and a half and then 0.75 and it just continues alright so I
don’t wanna get into this need to start mining as soon as possible there’s a
very fitting that that people should understand about varus which is another
unique thing and that is we talked about early on public block chains as a
service so when you run a pole if you’re running with a pole application using
public block chains as a service for example how will that work the way it’ll
work is you’re gonna run a poll by posting your poll transaction and
there’s going to be a going rate in varus for running that poll and that
going rate is going to include the provisioning of the blockchain that will
run that pull and then get notarized of all the results back into varus so what
that means is you’re gonna post a transaction to run your poll the miners
and thus takers are going to pick up that transaction and using the smart
contracts that will be built into the system at that point will provision the
chain and they will make money that isn’t in the block reward it’s not in
transaction fees in return for provisioning that blockchain for you so
now even though the block reward will be going in
half over time there will be an actual public blockchains
as a service economy on the various blockchain and minors and stagers will
be provisioning blockchains for applications and overtime other services
and they will be being paid more than just transaction fees and more than just
block rewards and so as the block rewards go down lower and lower it will
convert into basically a service economy where miners and Staters are providing
necessary services for the decentralized applications that run in the system all
right I get it um it was producing you know an income
stream is does the environment take a little trim off the top and forward that
to the to the foundation or is that all going to the folks that are mining and
staking know know everything about varus coin is what it looks like on the
surface as far as you know we’ve been we’ve been as upfront and open as we can
about how things work there’s no there’s no fee off the top for any founded
because there is no central organization that is set up to take anything out of
the process it just started fair and and so there is no founders reward coming
out of every block and there’s no you know there’s nothing off the top that’s
intended to go to the foundation it’s public blockchains as a service and and
the miners and Staker is just like today you know the miners in Bitcoin are
mining this public Bitcoin chain the miners and stagers mining varus coin are
mining this public varus coin chain and they are the people putting in either
their stake holdings you know which is capital or their work which is mining
and they are 50% you know capital and 50% labor
putting in their efforts to provision the services that that bears coin needs
to run and they are the ones who get the totality of all of the rewards for doing
that perfect perfect I had to ask the
question just want to make sure that we’re all on the same page we’re in that
way and so I appreciate okay now the wallet that’s currently
existing obviously you if you have your verus coins in there you set the the
amount of threads to be used to zero it puts it in a staking mode do I have to
have a minimum amount let’s say I got 96 various coins and I put them in there
those will stake obviously the reward would be small but will those stake is
there a minimum amount there there is no minimum amount for staking I mean you
could you could stake with once to toshi which is basically one 100 millionth of
a coin your chances of getting a stake are proportional every block and for
staking you would calculate 720 likely blocks a day your your chances of
getting a staked block is proportional to the state you hold and our staking on
the network relative to the stake other people hold and our staking on the
network so like so this basically comes down to it’s not
like it’s a winner take wall as if some guy has 50 percent of all the coins and
he’s gonna get them all it will get shared proportionally across all of the
stake holders is that fair way of saying it the the
proof of stake is also a fair statistical algorithm and the way that
it works is it’s actually it’s our own algorithm and it’s it’s similar in a way
to to proof of work in that there is a hash it actually uses Tver hash and
there is a difficulty and you want to get a hash
that comes in below the difficulty and the more people are staking the harder
the difficulty becomes the harder the target is to meet but the difference
between proof of stake and proof of work is how you arrive at that
hash in proof of work you’re basically taking the information of the block you
would like to add to the chain and you’re running through you know as many
possibilities as you can to generate a little bit different number which
generates a completely different hash every time and you’re testing that
against the target and if you are lower than the target then you can submit your
block and if someone else didn’t do it at exactly the same time and they didn’t
happen to win then you’ll get the block same with group of stake but your hash
result is determined by things that you can’t change you can’t change the hash
result when you’re determining it to see if you’ve won it’s dependent on
pre-existing transactions that you have in pre-existing holdings that you have
and you don’t really get to modify the results you just get to try again if you
didn’t win a block this time and so it’s a statistical contest that’s weighted by
the amount of coins that you hold but statistics are statistics and it is
possible that someone who is just holding you know one Satoshi could
conceivably win a block it’s just extremely extremely unlikely that that
would happen in your lifetime or mine probably all right that makes sense so
let me get onto a couple of things I know we have a lot of good stuff that we
talked about today but I do want to talk about we did the time lock
we did the the GPU the mining cloud III wanted to take a look i I went installed
the wallet got everything downloaded the chain did all the good stuff and
obviously reading into it found out that you know there’s so many folks that have
been so excited about it that the chances of winning it so low especially
not a risin five are gonna be pretty thin and that there was a pool
obviously the official wallet doesn’t have the ability to direct it to a pool
so you have to then run a a separate piece of software that would execute
against the CPU put it into a pool and if it wins it then sends the money over
to your wallet now I took a look I saw there was a couple of there was like a
Genesis site there was a take a look here there was do to do the various coin
mining pool is mining pools cloud virus the virus coin mining pools that cloud
and I took a look and you know look pretty sharp here I went to the help
section and wanted to download the the mining tool and it took me over to a
gentleman that had modified an open-source project added to it and
couldn’t find and in a window is exe now they had a Windows in a in a Linux
version and I’m and I took a look at the Windows version went there I couldn’t
find a release for an executable of any type and it had all the code and
everything and it gave you instructions on how to compile it and you know what
what additional libraries you needed and all this other stuff and I went I don’t
have time for this I don’t think I’m looking for it exe that I can run set
the address set their mind you know the cloud and go to town and this way I can
put it on 20 or 30 computers and let it run but I I struck out
and I’m wondering if I did not pay attention or it doesn’t exist yet and
what’s your thoughts on is there gonna be a you think somebody will put
together it’s not that it’s your responsibility but do you hear anything
out there of any of the community members trying to create a a
downloadable standalone executable okay so so first I should I should say there
are as far as I know I know of four pools that that have linked to our
discord you’re on one of them there’s also locked pool dotnet slash
Varys there’s a vrsc genesis mining and I think it’s GI and a s I asked there
then there’s a varus pool XYZ and then you I think you’re on mining pools dot
cloud and so I know that so there are mining programs that are compiled
they’ve been made the windows miner was made available by a community member and
you can download the windows miner from I thought it was at all pools but there
might be a pool that you’ve seen that doesn’t have a download of the binary
but because you’ve brought this up I’m gonna go make sure after we finish here
that that there is an easily downloadable so so right now
I think you can I know you can download the binary for Windows or for Linux from
at least three or three out of four of the pools and I thought it was four but
might not be so I’ll just go back and I’ll make sure that there’s an easily
accessible miner for Windows and Linux available to everybody just to make that
easy to do so think yeah yeah that would help out I did I I went to
the second one which is the Genesis for lack of a better way of saying it and I
saw that hey if you have Windows sorry you have Windows but here’s a minor for
you I didn’t get a chance to click on the button and see where it took me and
that was the next thing I just literally ran out of time but I wanted to put this
on a couple of risin fives just to see what happens and and take a look at it
I’d like to experience every project that I I talked with and so that I have
I can frustrated dude I’m sorry I’d love to hear what your hash rate is on your
rise and pipes sure sure as soon as I get that um now that we have the means
of communicating I can telegram you and what have you and I’ll give you any of
that feedback you know I’m kind of excited to to put a few machines on it
just to see where it takes me and especially now well the going is good
you two should do that get out there if you have an opportunity get yourself
some some coins why you can it’s it’s just the time to do it and before
everything takes off and it just adds more to the value gets you involved and
and maybe you’ll see some additional capabilities coming down I mean so far
I’m liking what I’m seeing and think I like all of the stuff and quite frankly
you’re a you know real smart guy obviously you know what you’re doing
you’ve been around as long as I have and far more in depth then I probably have
ever gone and so I have no doubts but I do want to pick on you guys on a couple
of little things and then I want to talk about the road map right one of the
things I wanted to pick on and when when the guys came and they said take a look
at the various so the first thing I do is I go to the website and you know I’m
not looking for scrolling things and little
wispy stuff and I could care less I need some meat and potatoes
I personally when I do a website let’s move you back over here when I take a
look at a site I go to it and the first thing I do is sorry
you know I see some tech some vision I got the white paper I don’t have time to
go through all those white papers I’ll take a glance through it maybe I see
some some cool tech going on here I see that’s just good I got a way to get a
wallet set up and mine where to go to the you know buy it on an exchange I see
some names so when I take a look at this I do what’s called the trade show walk
by so I don’t know if you’ve been to trade shows and when you go to a trade
show there’s just you know hundreds and hundreds of booths you’re going down the
aisles and you’re as you’re walking along you’re looking at the boots and
and you know you’re looking at the pictures and and see if there’s
something there that strikes your fancy that makes you want to stop and ask more
questions and when I did my trade show walk by of the website I have no idea
what’s so special about this coin I had no idea of everything that you and me
just talked about and there was nothing there that made me want to look further
and the things that concerned me right off the bat was is that I had no idea
what this coin was about there’s another cryptocurrency yeah okay you know and so
I didn’t know what you were trying to solve just a little blurb you know I
would have liked to have seen a little blurb that said this is what we’re
solving this is why this coin is so that I can catch my attention right off the
bat this my person take it I’m just a crazy guy a straw hat and you know from
there so it didn’t lend me to want to dig deeper and I completely accept the
feedback and I think you know it’s valid feedback and and I think
based on this we probably should it’s probably time for an update of that site
so I think you know we’ll well I think it’s cheating you
I think it’s cheating you because we’re talking about there’s so much hour and
there’s so much go on with what your project that you’re that you’re
developing for that that I wasn’t able to defined easily it should be really
super easy for me so that I say hey I think I’d be interested in in this and
let me look more and there was nothing they make no and and things now then
another thing in defense of in defense being trying not to be defensive but
also still defending of the reasons for why it looks the way it does so from the
beginning and throughout the whole project our philosophy has been we want
to build the vision not just cell division and so the I think you’re I
think at this point at the stage of the project we should take your advice and
we should do what you’re saying when we put this together and and when this was
put together and and it says what it says it really was an effort to say what
is it now what do you get today right now and the
vision was okay and if you want to know about more then you can click here and
and I think you’re right it probably short changes the project right now
because it doesn’t lead you to wanting to really understand the vision which i
think is a huge and very important vision yeah I think you’re right on
target there you know as I’m a CEO of a company and my time is so limited that
you know if I don’t get the bullet off the bat so yeah all right that’s
nice you know like looking at resumes as you go to next next until you see
something on there and then you start to look more my only feedback is is that if
you know you talked about right off the frontage to talk about what the what
it’s solving and then I can dig in you know and go in and a little bit deeper
just just my throw up the idea to try to grad let people grasp a little bit more
because you if you’re into technical stuff you know you’re not gonna have a
problem with this and you’re gonna you know if you know this is something you
want to get involved with you’re gonna search through it and find what you need
that’s what we do we’re used to that but the average Joe who wants to get right
with this day they’re not gonna know so that’s my suggestion there my only other
suggestion as I’m looking for and I’m going through this here is they have a
real clear some click throughs that can give you more details in other words I
had a hard time you know obviously the you have discord I don’t I use telegram
at least I don’t have time to add more programs and stuff so I don’t even
bother I mean I clicked on it and I don’t even know how to use the discord I
don’t even get involved with it but you know the ability to find your ma ma or
your and I mean on the Bitcoin talk your even simple things as this I happened to
dig around and I found Ben’s pocket guide for various point
oh yeah that’s a great yeah you need to put a link in you this is what the coins
about this is what how we’re going to get there and you need to correct this
to see they’ve to get a little bit more about what this is about this after I
read this I went yeah this is not bad that I really need that and so then I
started because of Ben and what are you running here for you guys I started to
to download the wallet and in the scissor to get more information
and if you can these are linked to it or find a way to put it into your website
this would I think bring a lot more attention to your coin as you go forward
we will make changes and we’ll do we’ll do these things I think your feedback is
on target appreciate it yeah I’d like to see you guys do well and I think there’s
a lot more to your project than meets the eye and it’s all hidden and until I
think this article yeah so that was my only and the last part that and the
reason and this is because when I went to do a review and anybody else wants me
to review their coin if I can’t find the information as an average Joe and go
they your reviews not going to be good because I can’t find the information
easily and so one of the things you know I was looking at the the contributors
and one of the things that obviously and there’s somebody who doesn’t know
anything about it they look at and they see names they see information and they
have no idea of this is actually the person you know as all they do there’s
so many people out there playing games and and who are not forthright obviously
that’s the reason why I wanted you on here that Michael does exist he’s
sitting right there in the screen above me alright so the person does exist it
but you know people don’t know and and you know if if you had whether or not
you guys want to put your picture out there so there’s a face to it maybe you
have a click to your link you most people have a LinkedIn especially if
they’ve been in the business before so that I can look out I can click at it
that’s the same guy this is what he does these guys obviously are real they they
know what they’re doing so you know let me get a little bit more involved my
feedback – these are the things I do as a reviewer when I take a look at if I
can’t find the information easily I you know I don’t have the time to dig
through it and unless somebody says you need to go check out this coin and you
need to get some of these in your pocket then obviously I’m gonna I’ll dig around
as much as I need to define the information but if you’re trying to
bring in people easily these are the types of things that I looked for and I
and if you see and see any value in it maybe you can add it thank you
so that was my only feedback for the website and the reason why I didn’t even
look further into varus is because you gave me no reason to whether the varus
not you Michael but the vendor project I understand your point and I and I do
appreciate the feedback really okay good good
and so I’m hopefully that the project will be able to do something more
excited more direct and then you’ll be able to capture more people because I
think you deserve that and there’s more there to it so yeah I’m gonna put the
link below on Ben’s article here so if you guys want to learn more about varus there’s obviously a lot more to this
project and then meets the eye if you’re just skimming so you definitely want to
take a look I’m gonna put some links down below and you can click through
them take a look at it yeah absolutely at a minimum want to click on Ben’s Bend
who’s from Komodo and click on his link and he talks about various coin and and
the basics about it and this is a short read but you know it’s just packed full
of meat and potatoes and actually can get you pretty excited about the project
I was not excited until I read this and I’m gonna be honest to you and until I
got a chance to meet Michael right here over my shoulder real personable and
we’re thrilled to have him so make sure you you take a look at this it’s
important to do and then you can make a decision whether or not this is
something you want a mine or love with you know so Michael don’t
think this is Bert thing oh it’s because I think what you’re telling us is we’re
in best kept secret mode and we shouldn’t be in that model and I think
that’s true I think well maybe that’s where they want to be I don’t know maybe
that’s for the kid he wants to be for at least the first few months I know that
happens you know but when the time is right and you really want people to
understand what’s going on I am I’m curious knowing on your personal
level here is the what there are so many projects Markel out there I I go on a
telegram and they have the the announcements for new coins and thousand
and every time I turn around is just more coins you know one des story your
garbage one that picked up your yeah you know lawn mowing services coins and
there’s coins for everything and projects and a lot more of the time for
just a currency coin is gonna be really tough on people obviously having some
kind of specialty nature of urine of your project is gonna give you a better
edge and yours being quite a secure and robust environment along with the
ability to to work with comodo using the comodo template system and and and then
these services applications as a service blockchain applications as a service so
how do you see yourself I mean obviously it’s a biased question to ask you but
who are your biggest competitors and how do you see yourselves catching up to
them or beating them that’s a that’s a good question because actually it’s not
the first time we’ve been asked and you know it’s a it’s a process of
decentralization so when I was CTO at parallels we were we were
working with service providers and telcos to provide them with systems that
would allow them to provision applications for a fee to their
customers and provisioning blockchains right now that’s that’s a hard thing to
do for people so you’ll have you know you’ll have companies that will help
other companies provision block chains and you know you have IBM with hyper
ledger and you have chains illa leveraging the comodo ecosystem and and
you know these are like four bespoke you know custom block chains and solutions
for things this can make a lot of sense but you know Bitcoin came along and said
we can do transactions with something that carries value cryptocurrency money
we can do transactions without any central organization or entity at all
and everybody started doing transactions this way over some years it took a few
years for people you know to really catch on and and now I think everyone
accepts that cryptocurrency is part of the future and the question is well what
does that mean so what we’re doing is we’re saying a lot of the things that
you would today go and hire a consulting company for and put together you know
like a poll you know if you go and you want to have a company you know people
have said Oh votes this is potentially a competitor but votes does polls and
they’re more of an application and in the end the polling application is
really going to be an application on top of public blockchains as a service there
hasn’t been public blockchains as a service before there just isn’t such a
thing and so is there a competitor of that there’s not a competitor of that
that is the public block pains as a service is the disruptive technology
that we’re bringing to the table actually
and what that is is it leverages the security that we’re bringing to the
table and the hash algorithm all these different things but public blockchains
as a service is a paradigm shift really it’s going to enable companies and
organizations and groups of people or just people to not have to go and get
custom block chains provision just because they need the benefit of their
own isolated blockchain they’ll just be able to run an application that just
does that for them and they don’t even have to think about it you know so over
time we expect polling to be just something that is an application that
you know you’d get from the iTunes Store you’d have on your Android and you’d be
using it on your phone and yeah it might create a blockchain in the background
and you might be running on an isolated blockchain and the and the person who
did that application or all the people using it will collectively be paying the
miners and stagers to make all that happen but all you really are thinking
about is that you’re using a poll on your phone and it all works and you get
your privacy and you get to even later on see that all the results are valid
and you could even audit them with the app itself and you can see that your
vote is right there and it was counted and nobody else can you know and so so
the idea is public blockchains as a service we’re not really seeing people
are doing that so our competition is kind of old way that people provision
and provide services and we believe this is really a disruptive approach more
than it is a copy of what someone else is doing with cryptocurrency and it’s
going beyond the idea of transactions or basic D applications and saying you know
the blockchain itself can be provisioned and operated the way transactions are
done in Bitcoin today all right and that makes sense I appreciate that
feedback because I was curious yeah most folks are most of the coins are creating
apps that will actually run on their environments but I don’t believe that
they’re going to be as services as the same way that you’re doing it now so for
somebody to be able to take advantage or to use the environment is there going to
be like a developer kid or some kind of a set of assumptions that you can that
that’ll be made available so that you can just you know you download your set
of instructions that are available to you and you can just start writing code
to to access this or do they have to really get involved with your project
and start to know what you did soup to nuts before they can actually make
something happen someone’s going to develop applications
then you know we’re starting with everything as open source so everything
we do is completely open source and available to everybody you know it’s
everybody to work on our it’s one of the reasons that we feel it’s not enough to
just say okay we’ve got public blockchains as a service here’s the
protocol you can make a blockchain okay now everybody can just go and make your
applications we actually have you know the whole idea of doing this came out of
the desire to solve certain problems and in fact the foundational applications
are applications that we want to build on the way to you know even a bigger and
broader vision of public services as public systems that work on behalf of
the people and so so the general idea is something that right now inscribed when
we actually release the public block chains as a service you know we’re gonna
be building some of the first applications on them if there are other
people who want to build applications I can’t say I know that
is gonna be open source I know that we’ve got a community that’s very
interested in making things as easy as possible for people to use and so are we
but as soon as we finish the public blockchain says service technology is
then we’re gonna be building the foundational applications on top of that
and it might be that the really easy to follow easy to use
you know developers guide and developers kit is something that you’d be more
likely to see after the first polls say or foundational applications there will
certainly be tools and there will certainly be examples that are real
applications doing a software development kit is not our first
priority because we want to make the applications that leverage the
technology to make the whole system useful for people who aren’t just
developers all right that makes sense yeah I was just curious how we were
gonna bring hey you two can play with the blockchain and make something now
what do I start you know and it will be applications
developers building technologies and building applications on this I’m sure
of it well we expect that the first applications that the really first
decentralized applications aside from the currency aspects and the wallet and
mining and staking and and tools around that and and we have messaging actually
we have the the zero knowledge private but permanent blockchain messaging
already in the wallet aside from those things we think that easy to use and fun
to use poles and support for elections will be one of the first applications
that people will really be able to use on the system and at that point it will
also be a completely open source example for anybody who wants to
make a batter one make a different one or use it as an example to make
something that they have a vision of doing all right all right now I was
looking at noticing it like in phase two you were talking about Auto Chains poles
and varus Mobile let’s see here phase three identity improved for virtue phase
four integrated machine learning so and content and storage so obviously as you
go along you want to create and do bigger and better things so what is the
just just a couple of sentences what is auto chains in various mobile okay so uh
Eris so we actually believe that a mobile experience is critical
though Baris Mobile is is you know first and foremost just having your verus
wallet on your mobile device and that’s something that is in Phase two it’s
something that we’re going to have available in Phase two hopefully in the
not too distant future the auto chains are public block chains as a service so
another way to refer to public block chains as a service so these are block
chains that are automatically provisioned and created they might only
live for the length of the duration of a particular poll or a collection and then
they might get archived and and notarized back into varus and the
blockchain itself may not need to exist beyond that as part of the application
so we call those auto chains and because we believe that you know if we just
release technology then that’s only going to be useful for a small subset of
the population we believe that those technologies are needed for us to really
do what we want to do with polls and elections and so using polls and
elections over those oh geez on your mobile device is is
definitely something that we want to enable and we want to enable you know my
mom or brothers and sisters who aren’t developers to be able to use this to
vote on whether they like cats or dogs more or to vote on you know a political
issue or or a candidate for for something at least in a poll or it or in
actual elections and you know then you talked about the next phases and and
maybe if I could just touch on one of the things that actually got me thinking
about all of this to begin with I was doing a lot of machine learning
work and in consulting in machine learning for people and building systems
that would read and they would read messages and text and email and
documents and you could train them to classify those things into whatever
types of categories you decided to train them in I think I posted a link to one
of my machine learning repositories because people were interested in in
reducing some of that you know eath scam giveaway spam on twitter and and and so
one of the repositories I made can basically take any text and any kind of
training information and it reads the text and and you can train it to
categorize you know you could train it categorize tweets there are actually
examples in the repository of doing that you can train it to categorize who an
author is you can train it to categorize the sentiment of something you could
train it to categorize if the speech was toxic based on certain standards these
kinds of things and the idea that we could over time run polls that would
respect the privacy of the people who engage with
so it’s not like Facebook or a centralized social network where
everything you do and say someone else is keeping that data it’s you get to
actually preserve your dignity you get to preserve your privacy and you get to
tell someone what you think and that gets to be recorded without actually
recording all of you know what you had for breakfast and and in what you happen
to be wearing today you know and I mean what am i one of my past roles was I was
the technical fellow for Microsoft’s advertising platform using machine
learning technologies and figuring out you know how to learn more about people
by their behaviors so that that could be used you know to sell more advertising
and and just working in that environment you realize people really don’t
understand how much they are exposing about themselves when they use all of
these centralized services that are designed to capture every bit of
information about them that’s possible and so this is intended to be a better
way you know the idea is that we actually there’s a lot that we could
learn from people from populations that are not afraid to speak their mind
because they’re protected by technology that’s guaranteed to preserve their
confidentiality imagine that you know imagine that you could that you’re not
you’re not using technologies yourself you’re using the technology that
actually protects your privacy but still allows you to speak your mind and so
that’s actually something that we’re not seeing anyone else do and that’s what
gets me excited about the project at the fundamental level and you know when I
talk about machine learning in phase four you know we got to go through we
got to go through important phase one which we’ve already done in Phase two
which we’re doing now in Phase three to get to phase four and if I only
talk about what I believe face poor can enable to help you know society and
humans and everything else nobody’s gonna understand anything I’m saying
it’s just gonna you know because you got to get the other phases to be there and
so so this is you know step by step approach that we’ve laid out that leads
us to what I believe is a way of really leveraging machine learning while being
able to expose the world’s intelligence to help machines learn about people –
without any individual being at risk of exposing too much about themselves to
the system and being a target of anything all right
makes sense and I appreciate you explaining that your position on that
that’s pretty awesome well let’s like miss something is there
anything that you wanted to add that you think that I missed in my questions that
I didn’t do a good job at or I want to say I really appreciate this interview
because you’ve you’ve touched on so many important issues and I appreciate the
chance to talk about them and even the I you know the the opportunity to think a
little bit further about what we’re doing all this for I really appreciate
it and if there is anything that we missed for this I’m I’m not thinking
about what it is right now and I’ll bring it back on if you have if
ya got nude stuff you know that will be a problem what I I wanted to tell you is
that you’ve been an awesome guest that I appreciate you taking the time out of
your schedule it felt like I was hanging out with some some of my old code
developers that I used to work with and and I had a real enjoyable time talking
with you about everything there’s no doubt in my heart that you’re gonna have
a lot of competition and to be able to break through
there’s so much out there but I think that yeah you have some solid people you
have the the actual performance of your environment I think is rock solid and
that’s a real big in a good start and as you go along as long as you can have
something to do with these these designs these services as you know service adds
a service blockchain has a service type of solutions so that it actually will
provide a value to somebody besides just mining another point I think that you
guys will do real well I’m gonna be keeping my eyes on you absolutely and I
will be personally putting a machine or two on various just to see there’s some
kind of results and and and start mining a few coins and we’ll see we you guys
take this project and I hope that you’ll keep your mind to update me in the
future and you won’t forget about me when you become a big coin and you’re
doing that awesome stuff thank you and then it’s a pleasure to talk to you
and I appreciate the time thank you very much some Thank You Micah let’s give
them a round of applause and we’ll talk to you so that was a lot of good
information there was a lot packed into two hours and it’s unbelievable how fast
it went by it was an enjoyable conversation and believe it or not we
actually spent another half hour chatting about crypto currencies in
general after we did the interviews so Mike was a very person one person and we
hope to be able to connect with him again in the future now we hope his
project does well and hopefully they’ll do a little bit more marketing now keep
in mind I have put the mining software on one of my pcs
just to take a look they’re kind of in a ugly duckling phase where it’s too hard
to go solo mining but yet the software is just starting to come out to mine in
a pool so there are one or two that you can download the software and start
mining but getting your hands on them is pretty tough there’s a lot of hash power
out there like he said and there’s a lot of folks mining varus so getting a hold
of them seems to be tough I’m gonna let my miner run for a few days
and see what kind of results I get I have no idea how to measure that its
value at this point I don’t believe they’re on an exchange I could be wrong
but I have not been able to find one and so you know these guys are starting from
ground up and from scratch but I’ll let you know how that turns out along with
providing some information on how to set up a miner on your PC if you decide to
invest some of your time and energy into varus coin
either way we wish Michael a lot of luck and hopefully we’ll get more information
now keep in mind we have a telegram channel that did you spend telegram and
we currently have a team member from land dollar Michael has accepted our
offer to join digits been crypto telegram and he will put information out
there every once in a while news and tidbits chances are you may find out
information about various coin first on digits been crypto so you may want to
take a look at that as you go along so we appreciate you coming here if you
enjoyed this series give it a like in a subscription and we will see you next
time thanks you you

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3 thoughts on “Part 2 $VRSC #VerusCoin Crypto – Interview with Michael Toutonghi #Komodoplatform $KMD #CryptoNews”

  • Great two part interview! I am very interested in this project! Currently downloading the blockchain on the wallet. Well done and I thought your critique of the website was spot on! Thank you!

  • he doesnt give me trust at all.
    for sure were great phrases, but in general wouldn't trust this guy with this presentation at all about this veruscoin.
    and agree with 39:00 etc suggestions its just basics..
    no matter r u average joe, or pro, u just wont waste your time for sure on finding info about project that has now value at all at the moment.

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