Lisk Community Meeting - 01


Question 1:
@5:45 Will Lisk team be supporting blockchain app developers?
Answer: You have this already in your example you sent me. Let me know if you want me to still give you a transcript of it.

Question 2:
@7:44 Isabella are you moving to Germany?
Answer: I continue to mull this question over. I like it here, but it’s a big step. I have responsibilities in the U. S. that has to be addressed before I can undergo such a big transition?

Question 3:
@8:11 What notable changes does the new 0.6.0 version bring?
Answer: The new 06 version comes with some nice transactions and point rewrites. You can now use the and/or operator to filter out transactions. We have made some peering changes to help with broad hash consensus. We had previously removed a peering mechanism but we have reimplemented it. It will clear other notes more often and give fresher data. We added the ability to sync from specific peers and added some changes to Lisk SH2 to accommodate that. Lisk snapshot had some improvements to allow more granular control over the operations jobs that you would need to run that.

Question 4:
@9:25 Bitcoin is really high right now. What are you going to do with it?
Answer: Our plan is to liquidate all of the bitcoin until we have 10,000 bitcoins left, which will then go into a more signature cold water address. This means we plan to further liquidate 2000 btc in the coming weeks. The money we have already liquidated in the past and the 2000 btc will be enough for us to operate for the next 1-2 years.

Question 5:
@10:16 How much longer will Lisk stay at 5 Lisk reward per block?
Answer: That is a developments/governance/consensus community question. The network has to accept the change if we are going to change that. It makes sense to refine the algorithm itself. It’s a constant battle to get the best working system as a whole so we won’t change the block rewards. What we are going to change is how the delegates are elected maybe or how many delegates are elected but not the number itself.

Question 6:
@11:23 Do we have a better understanding or thought on the upcoming SDK? What are the fundamentals that the SDK will be created by?
Answer: In general 2016 was a year full of back fixes, optimization, security increasements. We had no resources since the foundation started in December and we started hiring in January. Basically Lisk started this year. Going forward we are conducting daily meetings with a full team. We brainstorm and sketch on a whiteboard. We are taking a top to bottom approach meaning we start at the top with stakeholders, users using our platform, and developers using the SDK, to the bottom asking ourselves what do these stakeholders want. Some want usability, others want security of the platform, scaleability, attractiveness and so on. We are discussing each of these attributes and breaking them down even further. It goes down and down until we get all of the elements of the SDK ready. Then we go up again, see how we can connect these different elements. We want to know what SDK should do before we do one line of coding.

Question 7:
@15:33 Can we still expect the white paper by quarter one 2017 and do you plan to put the white paper on gizhub?
Answer: Within the blockchain community the white paper is mostly a marketing instrument to hype up ICO. People write some white paper that will attract bitcoin users to send 1 or 2 bitcoins to ICO in order to raise money. Because we already have Lisk as cryptocoin there is no need to make white paper about it. What Oliver wants to do is make a technical documentation about the code, about different modules and functions and so on. Regarding the SDK we could write a white paper. Again we have to ask, do we want to make a simple white paper that everyone understands or something more sophisticated. I think it makes sense to at least document how the SDK is progressing. That’s what we are already doing with all kinds of crazy mind maps. We have it in our minds and the mind maps. We don’t need to bring it to paper at this time.

Question 8:
@18:58 Is it possible to create custom tokens over Lisk?
Answer: It will definitely be possible. How it works is up for debate.

@19:18 If you are thinking about changing the amount of delegates, will it be more or less?
Answer: Definitely more. 101 was already arbitrary to the tipping point towards a distributed network to be secure, so it has to go up. But there are many things playing into that decision. We can just increase it or decrease it. I think before we can even think about that we need to break up our test coverage, not only function test but unit test to be sure we do the right thing. That is the top priority at all times here.

Question 10:
@20:16 What is the main priority right now in the development area of Lisk?
Answer: To stay secure. To keep the network running. Our priorities are split. We are working half the day making the Lisk core better everyday with every release, but on the other side we are working on the SDK. We are brainstorming about it, talking about it, we are printing documents from other subjects to teach ourselves more about this topic, to implement those ideas into the SDK. So one side is the core and the other side is the SDK.

Question 11:
@21:16 What will be the verification process for dsops execution? Every mode will verify all dsops computations or something different?
Answer: The target goal for blockchain applications is to have all of the verification take place in the side chain. Or if it doesn’t need a token it will just happen between all of these notes depending on how the consensus would be organized if you didn’t have a blockchain. A blockchain application will register through a magnet. There will be a deposit of currency maybe, we are still up for debate on that one. The currency goes in, it’s secure in that account and then from there all of the code is run on its own process and handled that way. The main chain will only ever verify out transactions or registration transactions for blockchain applications. It will never actually participate in any of those computations.

Question 12:
@22:18 What are the future plans for the development team? How many people are left to hire? What will be the expected size of the final team?
Answer: Currently if we are talking about developers, we have 5 developers total. In March there will be another one and in April another one. So seven secured, but we need more on the back end. There are always more people we can hire. We are actively looking for more developers, but it will happen 1 by 1. We won’t get to add 5 tomorrow. It’s not that easy to find people that will move to Berlin, have some understanding of blockchain technology and who will fit in to our team. As for a final number maybe between 10-20 total.

Question 13:
@25:22 Does the delay in community change? Is the block reward change one year from the start of community forging?
Answer: No, it doesn’t change it because it’s based on the milestone when it changes. We changed all of those constants when we changed it in May of last year. It will change in November of this year.

​Question 14:
@26:27 Any update on re-branding?
Answer: Yes, what we did was we looked on the whole planet for the design agency. We thought this is not the best thing. We were fighting time zones and language barriers. So we decided to look locally in Berlin. We found one amazing design agency. It’s not only design, its user experience and some aspect coding. I have been there two times already. They have an amazing office. We discussed what Lisk is. I will go back for a third time soon to discuss further steps. The rebranding is progressing. We are still discussing the target date. But I would say quarter two or quarter three. Design and user experience is something we have to get right. We shouldn’t just hurry with this.

Question 15:
@28:38 Do you have any idea when SDK brainstorming will be complete?
Answer: About 2-3 months for brainstorming, then we can start coding.

Question 16:
@29:01 About 40% of all Lisk holds are in small machine wallets from 1000 to 1,000,000. What can be the role of placing pools for the future?
Answer: I could go for a couple pools. I’m not ashamed of it. They provide a return. They make the token interest fluid. Pools have their purpose. It can always be a mechanism for small holders to get a return, similar to a bank where you deposit money and get minimal interest rates. So yeah, it’s a good thing as long as it doesn’t make up a majority of the delegates. I think it still needs to be a system which is mixed.

Question 17:
@30:47 What will happen with the byteballs that you have received and will receive?
Answer: I think today is the next distribution round. Regarding the byteballs, we had a discussion internally. We can’t say what we are going to do exactly because we want to something which is positive for Lisk holders. But I can’t say it now because it still needs to be checked with the lawyers. And I don’t want to announce something and later have to pull back because the lawyers don’t give the okay and we get into legal trouble. So for now we don’t do anything but we plan to something with it.

Question 18:
@31:45 Development seems to be really slow considering how much money you raised from the ICO. Block chain technology is changing really fast. Do you think you are being too conservative with the funds?
Answer: So it doesn’t mean because you have $1,000,000 or $10,000,000 that you can utilize the full value of it immediately. It’s a process that needs to slowly grow unless the team gets into other problems, which can be social problems within the team, project problems because it can’t be managed properly because its growing too fast. We have a new startup and people should know that. We don’t want to go too fast unless we have the money to go fast. Not that much has changed in the last two years concerning block chain technologies. New ideas is coming fast, but once the idea is there it takes time to update. The money we receive allows us to update consistently over the next five years. So, I think we are not too conservative considering we just received the money forty days ago. So things are starting to speed up now.

Question 19:
@34:33 What happened to the advisors added mid late last year? Are they still receiving funds from the advisor fund?
Answer: They received a one time motivational payment. That means they now have Lisk that they care about and they are doing their best to give the best advice with their own portfolio. They are still here. We have meetings with them from time to time. They are not marketing instruments. They are people in the background giving us advice in the background.

Question 20
@36:29 Will parameters (block time, number of delegates etc…) in the side chain need to be the same as the main chain or can they be custom?
Answer: I think the idea is to provide a modular SDK to allow the end user to customize it to their heart’s content. So if you want to have 1 delegate or 100 delegates you can. It’s really up to you as a developer. Hopefully we can provide that level of modularity. We don’t want to tie anyone’s hands too much in what they can do on their own sidechain, but it does makes sense to establish some limitations, but overall we want to be as customizable as possible.

Question 21:
@37:28 Isabella you proposed reducing the votes at 33, allowing just 1 vote is a POS system and 101 votes is a DPOS system. Do you agree whatever is in the middle is a grey area between POS and DPOS?
Answer: It’s a proposal. My write up on gizhub is for open discussion. Because at the end of the day we don’t want to end up centralized. I think you can understand that one person or a group coming in and owning all of the slots is apparently bad for the system. We need a way to maintain DPOS to but also be flexible and provide some stringent limitations that promote organic growth in the system. We don’t want to end up with one group owning 80% plus of the slots and there is never an opportunity for anyone else to get in unless they have deep pockets. Also DPOS as seen as being fixed, but nothing is fixed forever. This consensus is flexible or can be rather flexible. I think that what we should do is constantly try to improve it for the coming months and years.

Question 22:
@40:12 Isabella said the CUI will be removed. Why are you developing it then and taking time from development for it?
Answer: Our main focus is definitely not on Lisk CUI. It is one of the more aged pieces of code that we have. It does provide a fundamental mechanism interfacing with the system. So it’s important to at least make small changes on it that are quality like changes. I think we all can agree that it is a pain to go and vote for somebody under the old system. It’s makes sense to make this changes because we don’t have a replacement for it yet. Once we have a replacement we will definitely stop maintaining. The intent is to separate the core of Lisk from user interface. Currently it’s one app together. We want to offer two apps. One for the core and one for the user interface. That means we have two products we can independently update.

Question 23:
@42:50 When will the upcoming Lisk statement be released and what day in the month has the Lisk team set to release all future monthly statements?
Answer: the plan is to release the transparency reports one a month. This will be the first monthly transparency report for January. The problem is that I don’t want to release any numbers which are not final and still I need to do some accounting. Very likely next week it will be released. In the future hopefully it will be more timely once we get all the systems in place and accounted with the software.

Question 24:
@44:12 What can Lisk be used for at the moment? Until there are blockchain apps why would someone want to buy or use Lisk? Will we be able to use it for buying something or anything similar.
Answer: If you want to use it to buy anything you would have to ask a retailer to start using it as a payment system. Perhaps you could start a business and accept it yourself. We can’t force retailers to use Lisk. It has to be organically accepted by providers within a system. There is unlimited potential in what Lisk can become. It really depends on the people who use it and how they are going to use the token. The intended use of Lisk tokens is for network functionalities, paying fees and the greater use for Lisk tokens is the blockchain applications.

Question 25:
@46:45 Max what do you think about our initiative LIG and what we are going to do Feb 20?
Answer: I think it’s excellent. You guys are doing a fantastic job. Speaking on one of the big coins in Italy it’s going to be amazing.

Question 26:
@47:34 What is Lisk HQ priority number 1,2 & 3 in terms of software development? (DPOS changes, sidechain, SDK etc…)
Answer: Priority 1 is the SDK. Priority 2 is maintaining a healthy core, version updates and priority 3 is keep Lisk running as far as development, marketing, pr and spreading the word.

Question 27:
@48:37 is Litecurve Gambh?
Answer: Yes it is. It’s the German equivalent of a limited.

Question 28:
@ 48:56 Can we receive a better understanding of Literature, it’s mission and intentions?
Answer: Lisk itself is Lisk foundation based in Switzerland. It has three board members. Our goal is to make Lisk the leading and for now only blockchain app in the world. For that we are contracting different contractors around the world. One of them is Litecurve. As you know it’s a company we also founded, but this is a legal thing. We are operating the Lisk foundation from Switzerland and litecurve from Berlin because it’s easier to attract developers to Berlin. It’s a hard job getting developers to the small village in Switzerland. Basically the intentions of Litecurve is building the brand of Lisk.

Question 29:
@51:10 Will one of you come to the turn Lisk meet-up?
Answer: Isabella wants to go. She will see what she can do.

Question 30:
@51:27 As someone who develops for Lisk and has discussed the future state of Lisk how big do you genuinely see Lisk becoming and with disregarding marketcap and price related discussion?
Answer: I think Lisk has the potential to outdo bitcoin. No, I don’t think we will become bigger then bitcoin because bitcoin is well entrenched. I think Lisk will become one of the top three in the coming years.

Question 31:
@54:00 How urgent do you think it is to make changes to make dpos fairer? I’m interested in any approx timeline for brainstorming and start of coding.
Answer: We are brainstorming now. It’s open source. There is brainstorming between the community and us. Everyone is invited. We want to hear everyone’s opinion and thoughts. We want to insure the system is as fair as it possibly can be. We can’t say a timeline for implementation. We have to finish brainstorming before we start coding.

Question 32:
@55:07 Why was the name Lightcurve chosen for the gmbh and not Lisk? How does this help to promote the Lisk brand name? Seems counter intuitive.
Answer: At the end they are two distinctive companies. We have to be very careful what to do on the legal side. Not only because it’s block chain technologies, but because we have a non profit and a for profit here. They need to be independent.

Question 33:
@58:12 Do you have a development process like agile, scrum etc…?
Answer: I think we are following a scrum like process. Every morning we meet and talk about our issues and what we are working on. We use a hybrid between the two. If you go on gizhub you will see core spread 2, core spread 3 and so on and that’s how we are organizing the development work.

Question 34:
@58:57 Were you advised to choose different names?
Answer: We were advised to be very careful and this played into it. It wasn’t specifically said but it was something that was positively acknowledged by the lawyers.

Question 35:
@59:33 Would you be open to collaboration with ark and smart bridge in the future?
Answer: To be honest I don’t have the time to read about all of the projects. I don’t understand smart bridges at this point. We have to first research what smart bridge could provide Lisk. I haven’t been contacted directly by ark at this time for any collaboration. So I don’t know.

Question 36:
@1:01:02 Are you guys looking into what competitions are doing like for example arbor? Are you worried that some other crypto would best Lisk in officially releasing blockchain app platform?
Answer: I’m not worried about it. I do research on all of the projects. We are very aware of what other projects are doing and passively observing their progress. I think we will come out on top when it comes to releasing a functional blockchain application platform because we have the brains and funding. I don’t know any other project that wants to do the thing we want to do.

Question 37:
@1:03:16 Have your applied for the Lisk trademark?
Answer: Yes.