Denton : Hello Cole, could you introduce yourself to us, tell us a little bit about your background.
Cole : Hello, everyone, I am Cole form HSC. Good evening! Thank you very much for coming to this AMA , I am very excited! I have been in this industry for several years, and I believe deeply that Blockchain technology is born for revolution and creation.
That is the road HSC intend to realise.
Denton : It’s really great to have you with us Cole, can you tell us a little more about HSC, what is the vision behind it?
Cole : As you all know, Hoo Smart Chain is EVM side chain with two key principles: “open and friendly”.
HSC is also committed to broadening the blockchain world, and realise a complete ecological system. We want to give developers a low barrier to entry to blockchain development and the freedom to build decentralized applications, such as DeFi protocols , game-fi and social-fi. We want HSC to enhance our lives.
At HSC we constantly striving for breakthroughs, and believe that innovation is a positive sum game. We can all win and go further together.
Denton : I really agree that crypto has the potential to enrich our lives, by connecting people together in a way that has not been seen before. Recently I can see that HSC’s official website has redesigned, and given a very nice face lift. What is the motivation behind this ?
Cole : Maybe motivation is not quite accurate way of phrasing this.
HSC is constantly to innovate and achieve new breakthroughs; the revision to website is to show that HSC has new development direction and goal.
I am pleased to announce here that in 2022, HSC will take the direction of a visual blockchain. We will work to make crypto more accessible, and combine the values and application of web 3.0 into HSC.
In the future, every HSC wallet address will be an aggregator of value for the user.
Denton : Oh wow , I cannot wait to hear more about the plans for this year. To start off, are there any important plans or milestones for HSC this year?
Cole : Yes, I think lots of people will be confused about the visual blockchain.
We are still planning a lot of things this year, I hope those I can unveil them as they come along this year. And yes they will become our milestones if we can achieve them.
The first of the milestones is that the visual chain will be the first to come out. Meanwhile HSC will open registration for planets on the visual chain.
Yes that’s right, Planets ! I want to say something more about it. I have never mentioned anything about planets before. In new direction HSC will take, every address will be a planet.
You will be the owner or mayor for it. You can even do your urban planning and transportation system for it.
HSC gives value to the planet or address through your own operation and management. In comparison to SAND or Decentraland, which gives value to the price of the NFT. We will give value back to the users.
So everybody stay tuned! We invite everyone to HSC and manage your planet!
Denton : I just want to know when I can manage my planet, but we’ll come back to that later. What do you think will be the future development trend of DeFi in 2022?
Cole : 2021 was a breakthrough year for Defi. NFTs, GameFi, SocialFi, Metaverse, all have broken into the mainstream markets. It has brought extraordinary influence into not only the on-chain crypto world, but also off-chain in traditional markets.
Now if you were to look at development of DeFi in 2022, I think there are two notable aspects : One is security, this is an on-going and long term problem for DeFi, how do you balance the three aspects of the Blockchain Trilemma — Decentralisation, Scalability and Security ? With so many hacks that happening recently, Bitmart, KuCoin. Users need to feel safe about using DeFi and I think we are not there yet. We will do lots of things to improve this.
Denton : I totally agree with the security issue, I would not put my life savings in Defi at the moment. There so many hacks or scams.
Cole : Yes totally, everybody has experienced some hack or scam before, you don’t have the complete DeFi experience without them ! Even Musk wouldn’t put their life savings in DeFI.
The second aspect which I think is quite interesting, is the transition from DeFi to what I call De-Life, or Decentralised Life.
Whether it is finance, gaming, social media or art, they are all part of our lives. I believe the application of blockchain will make all these aspects more and more decentralised.
For example, the NFT craze has taken the art world by storm, and is leading the march onto decentralized art world. Needless to say finance is very much a part of our lives, and defi is leading the way!
Denton : Yes…maybe it is time to go BANKLESS (shoutout to our amazing friends at Bankless) Decentralisation is really going to make our lives better. That would be amazing.
Cole : Yes, and there could be so much more to decentralisation that we haven’t seen yet. For example DAOs is leading the way to decentralise the way we work, and the way we live.
For example decentralized education, decentralized book service, etc. We’ve all studied from when we are a child to become an adult and go to college (maybe). Education Study should be rewarded at every stage, not just an issue a certificate by a centralised college. You should be rewarded for your efforts and ability throughout your education. And others can even verify it like consensus!
I really look forward to seeing how all these will develop in the 2022 and the coming years. To decentralise our lives.
Denton : Wow the concept of De-Life is really interesting. I totally agree that decentralising will give benefit our lives great. Like bitcoin and Ethereum, their value partly comes from their degree of decentralision. This is very cutting edge developments! On to another cutting edge concept… HSC put forward the concept of a “visual blockchain”. To my knowledge, unique to the industry, could you give us some examples of this ?
Cole : I think all of our friends will be curious about this visualisation.
Well, simply all ecological projects on the chain will be alive and presented visually.
They will exist in the form of shops, buildings, parks or whatever you can imagine on that planet.
Every on-chain address will correspond to the users planet , and every planet will be unique. We can see the activity of each planet in a ranking, which will correspond to its visitors, interactions. This will then accrue or add value for the planet! Each user and build their planet as they like !
For example, you will find the top ranked planets, then the top planets will have 10,000 visitor weekly. That’s awesome, I want to buy some land on that planet, maybe put some advertisement there. This is the value of that planet.
If you planet is really well designed , then more people will be attracted to your planet, because of your effort you put into it.
Maybe Denton you like games, so you may have a very cool gaming themed planet. You are always interacting with the game-fi projects and you get those items and display it on your planet. You’ll manage your planet, and it will attract people who are also interested in games.
Denton : Oh yes, you got that right ! like games [a lot] but you can do a lot more! A gaming planet would be pretty cool. Imagine if you could play to earn, and games like Axie Infinity is making a big influence in the industry.
But how will the visual chain impact the future development of DeFi?
Cole : Traditional DeFi Models are project-centered. The merits of the project and market sentiment determine the value of the project, but the interactive value of users has not been shown.
Therefore, you may understand the process of learning, interacting, and participation of a project to be a kind of “Proof of work”. In this case we will try to give value back to it’s users.
Back to your planet Denton. You can put your DEX on one spot, your game NFTs in another spot it’s really convenient interface to use. I enter the your planet, and its well organised, I can just click on your buildings and start interacting with the protocols myself. As more and more people use your planet, value will accrue like a bit like land value !
The value of your planet will be higher, because of your effort to organise it !
Denton : I really can’t wait to organise my planet ! But it seems like it won’t be easy to achieve, what kind of specific differentiated services can the HSC platform provide to realise this vision ?
Cole : I’ll go through them here :
1. Ecosystem Visualization:
The visual chain will provide a dynamic ecological landscape with a life cycle, so that all participants can understand the rise and fall, boom and bust of each project. You will be able to visualise the on chain data and you can navigate around the different planets, and just like walking on a city street, you will find which restaurant has a really long queue or which has been closed for upgrade, or which milk tea shop has been closed down replaced by a crypto OTC counter !
2. Visual Bills: In addition to writing a record on blockchain, each interaction of an address on HSC will also generate a building block of the interactive project. That means Interaction to make eco-landscape grow, and eco-landscape to flourish each planet. At the same time, everyone can check their own Gas Fee consumption and monthly or annual interactive reports on HSC. Denton : Yes I certainly can do with checking our how much gas I wasted on Ethereum mainnet , probably too much.
Cole : 3. Personalized management: Each planet (address) can plan or build their own planet landscape and determine rules themselves. Users can participate in ecological interaction through other planets and the exposure of each planet will be displayed to public.
4. At the same time, HSC will provide the best support environment for all projects giving them soil and sunshine to grow. Such as the Cosmic Origin Project Grant plan, all-round market support and technical support.
Denton : OK so when can I build my planet !? Sorry what I mean is…. what are the immediate goals of HSC?
Don’t worry we will let you build your planet when we test it !
In line with our motivation to make DeFi more accessible , we will continue to pursue the key to DeFi world so to speak, and open the door of Defi to more and more users.
The short-term goal is to focus on User Friendness, to realize the first phase of creating a visual blockchain and to start incorporating a DAO structure to HSC.
Denton : You know I am into DAOs.
Cole : In the long run, as a metaverse framework, HSC wants to change the heavy reliance of value aggregation on DeFi Projects. We believe the blockchain technology is so much more. By incorporating core ideas from De-Life , Web 3.0, I believe each planet on HSC can accrue value from all kinds of interactions, and grow our ecosystem into an entire Metaverse.
Denton : Now that there are many leading public chains such as SOL, AVAX, BSC, etc. in the market, what is the core competitiveness of our HSC?
Cole : This is a very good question about the overall position of HSC.
This is something we have been thinking about a lot. Right now, a lot of the impression of each public chain is still focused on the projects on chain, gas price and its logo. HSC also focus on its users and HSC will become front and center visible to the world.
This vibrant ecosystem will make up our landscape, finally HSC will become an accessible metaverse in the future.
I believe this will be the trend of future development.
Denton : Annnd That is a wrap.
We hope everybody enjoyed their time with us here tonight, thank you all for joining.
If you have any questions just get in touch on any of our social media channels.
We will be hosting more AMA with various guests in the coming months. So please stay tuned to ourTwitter, Telegram and Discord !