Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from SupraOracles and our guest was . The AMA took place on the 21th of December.<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n
In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Pavel P<\/strong><\/p>\n\n\n\n Hello again, dear Satoshi Club community! We are pleased to\nannounce AMA with SupraOracles.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n @jtobkin Hello and welcome to Satoshi Club! How are you\ndoing today?<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Things are going really well! Progress on our end has been\nmoving forward at a really good pace.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Great to hear that! Let us start! <\/p>\n\n\n\n Could you introduce yourself and tell us how you got\ninvolved in crypto and particularly in SupraOracles?<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Nice to meet you Joshua<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n \/ansitpam<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Hi, great to be here! I\u2019m Josh, co-founder and CEO of\nSupraOracles.com. I\u2019ve been in the blockchain industry for about 5 years\nresearching how to scale blockchains. Before that I was involved in SaaS. I\ntransitioned to full time Blockchain in 2017 while in San Fransico.<\/p>\n\n\n\n Our leadership team has been together since early 2018. I\nmet Larron our CTO in Los Angeles and I met Jon our other co-founder in early\nJanuary 2018 at San Francisco Blockchain week.<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n I have been in SaaS for over 10 years and was working on a\ncouple of startups in San Francisco related to content digital rights\nmanagement and food supply chain. Larron was a Senior Engineer at Sony before\nworking with us. Jon was a blockchain consultant in Taipei since early 2017.<\/p>\n\n\n\n In 2018 we decided to create a crypto R&D lab called\nUnity Chain. There we studied a lot of different blockchain related topics from\nLayer 1 consensus algorithms, VRFs (verifiable random functions), and even to\nhow IoT and blockchains can be useful. We also built some solutions for\nprojects that had raised a lot of money in 2017 through ICOs but were unable to\nbuild their own technologies. That\u2019s how we survived the crypto winter<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n In 2019 we were invited to Shenzhen by Walmart China to\nparticipate in a food safety challenge. Walmart invited 10 teams from around\nthe world to participate. What we presented was a farm-to-table unbroken \u201cCold\nChain\u201d logistics solution that utilized Smart QR codes, IoT sensors, and blockchain\nto track the IoT data and enable digital payments. This solution allowed the\nend consumer to guarantee that their food has been handled correctly throughout\nthe entire logistics process.<\/p>\n\n\n\n All of our experience with understanding how to connect data\nfrom the outside world into blockchains, our study of other Layer 1 consensus\nalgorithms allowed us to conceptualize a new approach to bringing blockchain\nlevel guarantees to any data that we let enter a blockchain. In short, we\nactually apply Layer 1 security principles to the Oracle Layer.<\/p>\n\n\n\n Our Mission statement is to secure the Oracle layer with\nLayer 1 consensus security principles to ensure that any data we bring into\nblockchains have the strongest data correctness guarantees in the industry.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Wow! Huge background and great names involved. <\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Amazing experience Joshua, we are glad to have a great\ncrypto personality like you with us.<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Thank you! it’s been a long ride…<\/p>\n\n\n\n More recently we “graduated” from the Berkeley\nBlockchain Xcellorator program and are currently in the Mastercard Start Path\nprogram with large projects like Avalanche (Avax) etc.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Which features make Supra Oracles different to similar\nprojects?<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Mostly our approach. We’re like 100X more secure than most\nother solutions since we get rid of central points of failure. <\/p>\n\n\n\n While we’re also very fast on the order of 3-5 second\nrefresh rates for finality.<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n I’ll share a short video before the end of the AMA that on a\nhigh-level shares how our secure service works <\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n What about fees? are you cheaper than others as well?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Sure! Our community would love to watch it!<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Since we’re “high-throughput,” fees should be\ncheaper by far. Also, we hope to deploy a stablecoin mechanism so that fees are\npredictable – we’re exploring a flat-rate fee. \n<\/p>\n\n\n\n It’s a major pain point for projects to have to manage\nmultiple currencies that are highly volatile.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n I think, it is extremely important today – to avoid price\nfluctuations<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Agreed. We’re definitely really focused on the Developer\nExperience, to make it simple to plug-n-play while having access to data that\nhas best in industry data-correctness guarantees.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Perfect. Thanks a lot for the introduction, Joshua, ready to\nproceed with the community questions? we have collected six of them for you.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n So, you clearly see the goal and we hope that the path will\nbe quick and and flat! <\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n yes, ready for them<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q1 from Telegram user @Anne_Tim<\/em><\/p>\n\n\n\n It is mentioned on your website that Supra Oracles is building a suite of tools for creators, developers, and entrepreneurs. All this would finaly change such industries as Finance (DeFi, price feeds and payments), Gaming (Metaverse, dynamic NFT), marketing, trade and analytics. Could you talk more about each of the use cases mentioned above? Please also explain what are the revolutionary features of Supra Oracles and how would it impact regular users? Thanks!<\/em><\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Happy to share. Give me a moment to type this out pls.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Sure. Take your time!<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n re: DeFi:<\/p>\n\n\n\n DeFi is going to be transformative in that we can get rid of\na bunch of middle-men in the banking industry that don’t really need to be\nthere, thereby, making borrow\/lending and Peer 2 Peer models more efficient,\nstreamlined, and efficient. <\/p>\n\n\n\n re: Gaming:<\/p>\n\n\n\n Suppose you want to move an in-game asset around, by\nutilizing Supra who is focusing a cross-chain middleware Oracle, we can help\nmove assets across networks and across games. <\/p>\n\n\n\n Additionally, in-game performance analytics can be\nassociated to NFT meta-data. Suppose the performance of an in-game item in one\nEcosystem can affect how the item is rendered in another. In order to get this\nperformance data, utilizing a credibly neutral Oracle could play an important\nrole. <\/p>\n\n\n\n re: Marketing\/Advertising:<\/p>\n\n\n\n Well most of us don’t really love online ads, yet the truth\nis they are not all that bad. Even Brave Browser is kind of reliant on ads. We\nthink ultimately there will be new ways to monetize with your attention in\nnovel ways… to carefully track engagement metrics a decentralized Oracle\nservice could be beneficial here. <\/p>\n\n\n\n In general, when you can rely on a secure, fast, performant\nOracle to provide performance or Analytic data on things, new smart contract\ncapabilities are enabled. Even bringing in data from like who won the Football\ngame is a simple example of this.<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks for the complete explanation, congratulations for the\ninnovative project you have created.<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Thank you, we hope we can help and secure the multi-chain\nfuture.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n So, the solution might be used in multiple LIVE data\nstreamers? To make sure the information is provided in real time<\/p>\n\n\n\n Andr\u00e9s M. | Satoshi Club<\/strong><\/p>\n\n\n\n Which chains are you based on at the moment? several of\nthem?<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n That right. We aim to run consensus at the data source\ndirectly (at their websockets) and then another round of consensus collecting\nmany data sources into a final result.<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n We’re going to start with Ethereum and EVM chains initially\nbut since we are blockchain agnostic, we’ll also be providing our services to\nSolana and other ecosystems. We intend to help bridge the most popular chains\nall together.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Thank you for your answers! Let’s proceed to the question\nnr2. Are you ready?<\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n yes<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q2 from Telegram user @iceVermithraxx<\/em><\/p>\n\n\n\n Current oracles particularly decentralized oracle are vulnerable to hacking and outside manipulation and this have led to over $120M stolen last year due to DeFi Exploits. Sadly, Most of these issue occur due to lack of transparency, accountability and also Price delay and deviation. I clearly understand how SupraOracle oracle solves the issues of Price Delay and Deviation but Can you explain on How Supraoracle plans to solve my aforementioned issues on security and transparency? Are the prices precision of Supraoracle going to be Open to any entity to ensure full transparency? What are the base protocol layers in Supraoracle to ensure Full Safety of Investors Funds? How would users and investors be able to hold Supraoracle accountable for their actions?<\/em><\/p>\n\n\n\n Joshua D. Tobkin<\/strong><\/p>\n\n\n\n Yes, so Supra is a Proof of Stake network and nodes must\nstake our token in order to participate. This generates a NodeID for each node.<\/p>\n\n\n\n Then the nodes themselves get randomized into\n“Tribes” and “Clans” <\/p>\n\n\n\n Clans are size 13 and Tribes can be on the order of 300-500~\nnodes each <\/p>\n\n\n\n Each CLAN itself has to perform a DKG (Distributed Key Generation)\nprocess, which creates a Clan Level Public Address (or Identity) <\/p>\n\n\n\n We randomly dispatch a Clan to each of our data sources, who\nrun a round of consensus at the data source before that data is sent to our\nblock producer who will await 15 out of 21 data reports. The final value\nthat’ll be used will be the medium value, so that extremeities are not\nincluded. <\/p>\n\n\n\n These data reports are fully transparent. We know exactly\nwhich Clan signed which data and can fully trace it. Additionally, by having\neach of the nodes in the Clan itself sign their parital signature with their\nprivate key, we can even know what every SINGLE node has signed\/submitted. <\/p>\n\n\n\n This video was from our Blockchain at Berkeley Demo Data and\nshares our technical approach, feel free to take a look and open it up in\nanother browser:<\/p>\n\n\n\n