Crypto & DePIN

“Ideally you want to be able to pay for compute — staking is one thing, but actually paying for compute using Ethereum or an ERC-20 token, that means any stable currency… is the ideal scenario that we are all going to [want]. We’re going to do this in multiple stages: first we’re going to do a wrapped bridge that will eventually become a lot [more] native.” — Greg Osuri, 00:29:17

“Ideally you want to be able to pay for compute — staking is one thing, but actually paying for compute using Ethereum or an ERC-20 token, that means any stable currency on ERC, is the ideal scenario that we are all going towards… we’re going to do this in multiple stages: first we’re going to do a wrapped bridge that will eventually become a lot [more] native.” — Greg Osuri, 00:29:44

“What we really want to push further is ownerless web services, where say for example you’re hosting a Thor node and you’re a validator and you earn income as a validator — part of the commission can actually go to pay for compute itself from Akash without you touching an Akash wallet. That’s really putting our foundation for a larger vision of an interoperable cloud.” — Greg Osuri, 00:37:07

“We will be the first chain to connect to the Cosmos Hub as soon as Cosmos Hub goes live, right around mid-Feb.” — Greg Osuri, 00:55:25

“I think you’re going to see a convergence of a lot of these decentralized technologies all delivering to the goals of a better society. Akash provides infrastructure, Orchid provides routability, Handshake provides discovery, and something like Filecoin or Arweave or any others provide long-term storage.” — Greg Osuri, 00:36:22

“So blockchain alone, first thing we’re seeing is a Cambrian explosion of decentralized cloud. I think people should take NuCypher and Filecoin and like Sia and these projects a little more seriously… We are seeing the birth of a new cloud. And when Cosmos and IBC comes into fruition, when we have interoperability… it’s going to be phenomenal.” — Greg Osuri, 00:45:14

“There’s a fundamental difference between a company and a market. The mandate for a company is to become a monopoly. The mandate for a market is to have perfect competition, to have multiple providers. So blockchain networks are not companies. Blockchain networks are markets.” — Greg Osuri, 00:22:26

“I think there’s going to be a lot of exciting things that are going to come out in the next, this year, in 2021, with the decentralized cloud. I think they’re having the DeFi moment of 2018 at this stage.” — Greg Osuri, 00:45:55

“IBC is not token transfer, it’s data transfer. So we’re talking crazy use cases and… I can’t even imagine where it’s going to stop because I don’t think it’s ever going to stop.” — Greg Osuri, 00:48:09

“What Stargate brings to the table is the interoperability while having that highly decentralized and distributed security model, so I think this is a paradigm shift in how blockchains communicate today.” — Greg Osuri, 00:11:21

“I wrote a paper called Bootstrapping a Free Market by Borrowing from the Future… you have this inflation and you can use this inflation to subsidize some of the costs and that in turn can actually accelerate growth… using that we can actually reduce the cost even further to 10x… it’s of course an economic hack.” — Greg Osuri, 00:14:58

“I wrote a paper called Bootstrapping a Free Market by Borrowing from the Future… you have this inflation and you can use this inflation to subsidize some of the costs and that in turn can actually accelerate growth… using that we can actually reduce the cost even further to 10x… it’s of course an economic hack.” — Greg Osuri, 00:14:58

“The idea that I frame called ownerless services: there shouldn’t be a single owner, there shouldn’t be an identifiable person or a human being that is controlling the website. I think it should be on a threshold signature scheme; it could be… a DAO controlling the website.” — Greg Osuri, 01:00:38

“It’s only a matter of time — I would give it like maybe four months, maybe six months at tops — that you’re going to see incredible products built in Cosmos… you don’t have to pay like $1,000 in gas fees to do a lot of the operations.” — Greg Osuri, 00:41:40

“The way to scale massive systems is through interoperability… if you think about that, IBC is the TCP/IP of blockchains. It’s [an] interconnectivity system, and Akash now is the second chain to connect to IBC.” — Greg Osuri, 00:28:41

“You probably won’t see an impact in the next year or two, but three to four years down the line, when Akash becomes a network that powers 5G because of another decentralized network that’s inter[operating] with Akash — I think that’s [the] kind of stuff that I get super excited about.” — Greg Osuri, 00:51:02

“Если вы хорошо умеете работать с базами данных, вы можете предложить это в Акаш. Это своего рода святой грааль… Это то, к чему мы стремимся. Рынок децентрализованных услуг.” (“If you’re good at running databases, you can offer that on Akash. That’s a kind of holy grail… That’s what we’re striving for: a marketplace of decentralized services.”)” — Greg Osuri, 00:24:00

“I think a big transformation will be from like a password-based or account-based system to a wallet-first system.” — Greg Osuri, 00:34:52

“I think a big part of innovation is going to be in open marketplaces… exchanging goods and services in an open way, in a transparent way. I think that’s going to be the theme… I see no reason why any application — any marketplace today — should be closed. Marketplace by definition should be open and free.” — Greg Osuri, 00:33:29

“I see a lot of like nodes being deployed on Amazon. I think arguably about 70% of the nodes are running on Amazon today. And they all have their keys in Amazon itself. So if the server on the Amazon gets compromised, you’re screwed.” — Greg Osuri, 06:19:24

“The most exciting insight for me is a week over week growth — we saw about 17 [percent] week over week growth in total deployments. That’s humongous… we’re three months in and we’re still seeing that very heavy growth numbers. Hopefully this will last for a while and if that does happen we’ll be off to the races.” — Greg Osuri, 00:04:15

“Osmosis API servers and nodes are actually running on Akash, so it’s a self-serving ecosystem at this point… you can actually pay for your compute using OSMO tokens by exchanging them on the DEX to AKT and using their AKT to pay for your compute.” — Greg Osuri, 00:04:58

“None of the centralized exchanges could actually provide [that] kind of liquidity to us, and that’s a testament on why a decentralized exchange is the most efficient liquidity provisioning mechanism in crypto.” — Greg Osuri, 00:08:27

“Cosmos DeFi — interchain DeFi I want to call it… this is really, when you have USDC and all that come up, I think it’s just going to take off… it can be an explosion of the possibilities of… composability over sovereignty.” — Greg Osuri, 00:41:30

“Osmosis is a paradigm shift that the developers no longer need to make that trade-off… soon enough the bridge is going to get built between ERC20 and the Cosmos ecosystem… it’s very easy to see the Osmosis just becoming a massive liquidity provider very, very soon.” — Greg Osuri, 00:30:56

“That’d be great for [us] as well, because we want to enable stable currency payments for Akash — I think UST on Osmosis will put us there.” — Greg Osuri, 00:39:23

“The cognitive dissonance we have in crypto, especially DeFi, is adorable… Look at the Uniswap architecture: you have smart contracts running on Ethereum, the indexer running on Graph — where are these [Graph] servers running? Amazon. The JavaScript application — where is this running? Amazon. The DNS — probably Amazon or probably Cloudflare. You’re not decentralized — just own it… Unless three-fourths of your infrastructure is decentralized, you’re not DeFi.” — Greg Osuri, 00:18:29

“There’s a huge regulatory risk when you’re hosting your web UI on a domain name that’s registered under your name… the authorities could be like: no, you run uniswap.org, it’s registered [to] Hayden Adams… you’re facilitating exchange-type of relationship or money transfer on your domain, hosted in your name — hence you are responsible. Something is going to happen; I’m extremely scared of this notion… The solution to the problem is you should let your own clients, your own users, run their own UIs.” — Greg Osuri, 00:21:18

“I think we’re going to see Cosmos interoperability, or the IBC — inter-blockchain communication — be adopted way beyond just Cosmos… Once that happens, you’re going to create a very powerful ecosystem that’s built with utility at core, and with a growing adoption around that utility, all intercommunicating in a frictionless way.” — Greg Osuri, 00:21:50

“You don’t have to go give your credit card, name and your address to some Amazon or somebody to run a dVPN… rather just use your dVPN tokens that you gain to pay for the cloud computing service. That’s the ultimate sort of interoperable future that I envisioned.” — Greg Osuri, 00:11:59

“There’s monitoring evidence that most nodes in Ethereum are run on Amazon, and it’s Jeff [Bezos’] prerogative at this point… if he wants to shut down [the] Ethereum network, he can do that… most people in DeFi don’t care [that] the infrastructure is centralized, but they all want to be decentralized… the cognitive dissonance that we have is so bad.” — Greg Osuri, 00:26:24

“The goal for [the] Solana-Akash partnership is to decentralize Solana much further by reducing the cost of node infrastructure — and one-third is [an] amazing cost reduction — and hopefully help them to scale to about ten thousand validators from a one-thousand validator set right now.” — Greg Osuri, 01:04:06

“If you take our growth curve and take the decay curve of staking, there will come a point in the future where the network revenue exceeds [the] staking revenue — so till then it’s a comfortable hold.” — Greg Osuri, 00:57:40

“We just touched the surface when it comes to the possibilities with user experience. With the next three to four years, you’re just going to see a Cambrian explosion in types of experiences… looking from the trends of it is going to be amazing.” — Greg Osuri, 00:21:05

“I use a decentralized VPN and I use all my blogs, all my websites are on a decentralized cloud. I use Handshake. I use [Sia] to store my storage. A lot of my life is actually migrated pretty successfully to decentralized. And I think that’s going to be a trend.” — Greg Osuri, 00:16:44

“The entire stack is getting decentralized, right? So before it was just DNS, but now you have transport level and you have like the wire level… So Web3 is going to replace Web3 no matter what. I mean, it’s so fast that before we realize it’s going to be gone.” — Greg Osuri, 00:16:02

“Today a problem with DAOs is they got to elect a DAO member to represent them with Amazon… which presents a key man risk… Akash supports multisig, so you can actually have multiple people own a certain application, the hosting for it, actually controlled by a DAO… there’s no PII… and you pay using crypto.” — Greg Osuri, 00:34:06

“I didn’t really fully grasp the power of permissionless composability till I actually saw DeFi in action… now imagine applying that to computing, to what we’re doing with the Akash Network… my imagination now is running wild… applications we’re going to see that are just going to be so crazy that we can’t even comprehend.” — Greg Osuri, 00:24:08