Big Surprise: DFINITY official was also on our AMA and took a seat
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Guests Introduction:
Alex Goh (EMC Co-founder)
Co-founder of EMC protocols and based in Singapore. More than 20 years of Global Market development; Formerly GM of Improbable.io Greater China; Formerly GM of Amazon Web Service, Global Account.
Herbert (DFINITY Foundation GM of Asia)
General manager for DFINITY foundation based in Asia and previously from amazon web services, which focus on recruiting as many developers and great projects, such as EMC into the ICP ecosystem as possible.
Paul (DFINITY Foundation R&D)
Interested in functional programming and programming language research in general. I did my PhD with Professor Paul Hudak at Yale University. After being a research scientist at Intel Labs for 7 years, I am now at DFINITY.
Malcolm (Itoka, AI music of ICP)
Co-Founder of the startup OctAI (Itoka) base in Silicon Valley and serve for technology and product devolvement, building the generative AI for music, and developing our NFT for the IP management.
Anna(Yumi, NFT marketplace of ICP)
Operating Manager, focusing on boarding talented artworks on Yumi marketplace and enrich ICP ecosystem.
Major idea About EMC from Guests:
- Even EMC as a new child, it brought something very unique to the entire ecosystem
- ICP official States that the EMC team is special because it has its own ecosystem and community of developers, many with tremendous experience from the Web 2.0 era.
- Compares computing power to oil and sees EMC tokens as the currency of the AI era, not just limited to DeFi.
- The EMC test network has been successfully deployed with computing and routing nodes passing tests. From May 10th, testing phase with a reward of 3 million tokens will begin.
- EMC will be listed on the ICP official Launchpad with a pricing standard of 1 ICP to 100 EMC.
- ICP is expected to collaborate with various projects in the ecosystem, such as Yumi and Itoka, to issue NFTs or purchase EMC computing power.
AMA Details
Alex Goh (EMC co-founder)
- Question 1: What is the current progress of the EMC protocol, the real demand for AI generated by computing power, and its practical use?
Key points:
- EMC has completed the design of the node protocol and computing power mining, integrating with IC canister contracts.
- The Testnet will launch on May, 3 million tokens distributed as computing power rewards.
- The Testnet deployment of EMC is already completed, including validation nodes, routing nodes, and computing power nodes.
- ChatBox runs on the Testnet, which serves as an AI aggregator and incorporates Stable Diffusion and LLM models.
- EMC plans to offer more AIGC applications, AGI model training frameworks, and an AI marketplace.
- EMC has reached preliminary agreements with large MCN institutions in Southeast Asia to provide cost-effective and high-performance AI services.
- The network operates without gas fees and aims to onboard Web2 users into the Web3 world
Question 2: What are the innovations of EMC?
Key points:
- EMCâs focus on AI requires more complex business logic and the recording of additional information beyond transaction recording.
- EMCâs economic system is built on computing power, which addresses the circularity of the token economic model and is inherently deflationary.
- Computing power is seen as the ânetwork oilâ of the next generation, and EMCâs token is the âdollarâ of the AI era.
- EMC does not engage in traditional DeFi or burn gas for deflationary purposes.
- EMCâs separation of the economic and application layers for consensus on the main chain and Layer 2 achieves a balance between performance and security, representing a technological innovation.
- EMC is committed to delivering advanced AI computing power infrastructure and innovative use cases for its users.
Question 3: EMC Launchpad plan and expected price?Key points: The EMC Launchpad is scheduled for the end of May. As it is based on ICâs Layer 2, it will be fully decentralized and launched through ICâs NNS. The expected price will be based on the ICP price with a ratio of 1:100.
Herbert (DFINITY Foundation GM)
Question: As EMC is the Layer 2 of ICP, how do EMC and ICP collaborate to develop the market in the Asia-Pacific region?
Key points:
- Congratulates the EMC team for successfully configuring the Testnet, and he looks forward to the Mainnet going live tomorrow.
- Introduces himself as being from the DFINITY Foundation, the main developer behind the Internet Computer Protocol (ICP), which is one of the largest and most advanced blockchain layer1 networks in the world.
- Explains that the ICP has been developed by the technical foundation since 2016, and that it launched the main net almost two years ago on May 10, 2021.
- Notes that the ICP has never gone down, and that in year two, the foundation focused on incubating and onboarding a lot of developers.
- Even EMC as a new child, it brought something very unique to the entire ecosystem
- States that the EMC team is special because it has its own ecosystem and community of developers, many with tremendous experience from the Web 2.0 era.
- Notes that EMCâs plan to build a layer2 network on the ICP is ambitious and exciting, and that it could potentially lead to a path where crypto can grow beyond just transactions and into the enterprise space.
- EMC focuses on AI computing power scheduling, with its economic layer built entirely on ICP and transactions completed through ICPâs consensus. EMC will collaborate with ICP to establish the Asia-Pacific Alliance, recruit developers, organize hackathons, and host AI entrepreneurship competitions at universities.
Paul (DFINITY Foundation R&D)
Question: Can ICPâs Crypto Cloud vision, combined with EMCâs computing power scheduling protocol, support the massive application and prospects of AI in the real world?
Key points:
- The shared vision of ICP and other blockchain technologies like Ethereum and Bitcoin is to create a âworld computerâ that can run every computation in a blockchain environment.
- Ethereum and Bitcoin are not scalable because the competition (i.e., transferring tokens from one account to another) has to be replicated on thousands of nodes, making transactions slow and expensive.
- Ethereum has attempted to scale through layer2 and layer3 solutions, but true scalability comes from sharding.
- ICP has designed a first-principles sharding solution that is the first truly scalable sharding solution in the blockchain industry.
- The cost of computations on ICP is measured in âcyclesâ and is relatively fixed, rather than being a bidding process like with Ethereum and Bitcoin.
- ICP, as the Internet Computer, is the only blockchain that can support complex front-end and back-end applications at a technical level. EMC, on the other hand, is a computing power network that integrates and allocates scattered idle computing resources. The two technologies complement each other and provide a complete solution from infrastructure to application frameworks. This synergy enables the practical possibility of AI on-chain applications.
Malcolm (Co-founder of Itoka, AI music of ICP)
Question: Do you think AI music has a huge market potential, and how can EMCâs computing power network help reduce the cost of computing?
Key points
- AI music has tremendous potential for fast music prototyping for various purposes
- AI algorithms make creative music easier, allowing passionate individuals to become prompt musicians
- AI technologies break down barriers and democratize musical creation
- Current costs of running AI models on AWS are high, even with the cheapest instance
- To deliver a more robust solution, such as API, more instances would need to be deployed globally, which would be even more costly
- Excitement about the emergence of machine learning infrastructure solutions like EMC that offer alternative options to AI researchers
- Excitement about managing AI in a decentralized manner and approaching the real community on AI bots
- Best wishes for EMC testnet launch and congratulations to the team
Anna (Yumi, NFT marketplace of ICP)
Question: Is Yumiâs Marketplace considering a strategic collaboration with EMC to increase the variety of NFT asset types, particularly AI-generated encrypted art pieces?
Key points:
- Yumi 's mission is to provide true ownership of digital assets and bring virtual immersive experiences to everyone in the digital goods and asset markets.
- Yumi committed to providing innovative solutions that leverage the unique properties of NFTs to disrupt traditional ways of doing things.
- Yumi has organized several groundbreaking use cases for NFTs, including fractionalizing physical art ownership and securely storing gold bars in Switzerland.
- Yumi has a digital marketplace with three sections: YouMe Digital, YouMe Collect, and YouMe Go.
- Yumi Digital offers a launchpad and secondary marketplace for crypto projects to issue their assets in the form of NFTs.
- Yumi Collect offers token fractionalization of physical artworks.
- Yumi Go offers a virtual part to purchase unique gold bars with true ownership.
- Yumi looks forward to EMC introducing AI-generated artist and artworks to the ICP community.