Layer 2. Run fast dApps using blockchain’s security & cloud computing speed
Spicey | OIG:
Welcome back OIG to another exciting episode in our AMA series. Today we had the privilege of speaking with Roy Yinn, who is the Head of Marketing at TEA Project. TEA Project aims to bring decentralisation to cloud computing and open up a whole new world of possibilities when it comes to decentralised apps running at full speed. Without further ado, let’s jump straight into the AMA. Roy, welcome to the show. Great to have you. Could you tell us a little about yourself and how you got involved with TEA Project?
Roy Yin | TEA Project:
Yeah. Thanks for having me here. Myself, I actually joined the project about a month ago. Prior to that, I was I had been working in theindustry for 10 plus years, basically working for Apple, BlackBerry, and Xiaomi. After that, I joined a few startups focus on the healthcare and AI, new technologies. And yeah, so that’s about it before I join the project,
Spicey | OIG:
You said that’s about it, but that sounds like a lot to unwrap there. But really, really cool that you have that much experience in the field. So I guess let’s just dive into it. What is TEA Project?
Roy Yin | TEA Project:
Well, a TEA Party if you have imagined as decentralised, the cloud computing? Or to make sense of it, you can say that it’s a decentralised version of Amazon Cloud or a Google Cloud.
Spicey | OIG:
Yeah, And you know, that’s obviously something we use today, but not in a decentralised model. Right. And how does the introduction of the decentralisation to cloud computing change the industry? What does TEA Project aim to bring to the blockchain world?
Roy Yin | TEA Project:
So I think that we can explain two perspectives. One is from the internet. And another one is from blockchain because actually see, TEA Project is the infrastructure layer of the three-layer structure. The Internet, we all know that we have all been through the web three-stage. So we all know that the limitation of the web two, the big companies amassed a lot of user data and content. So they make money make a lot of money off it, because of the network effect. However, these are centralised and it creates a lot of censorship issues. And, you know, since it's centralised, he has the risk of one company has too much power to control the internet. So that’s not something that I think, as an Internet user, we want to see. So that’s one second from the perspective of blockchain. Blockchain is, of course, fully decentralised, but it has its limitation with its speed of computing. And it also has its another issue is the very high Gas costs. Right. So that’s where we think that a TEA Project can help in this web 3 space to help solve this problem. We can offer the cloud computing without the cost of centralization. We basically handle the decentralisation portion for the applications and users.
Spicey | OIG:
And it’s also good to know you offer cloud computing without the compromise of you know, your metadata being sold across the internet right Mmm, that’s a big deal. And that’s one of the big pushes in the blockchain narrative, the fact that we have ownership on certain aspects that I’ve, you know, the web that we didn’t have in web 2.0. So very good points there. So could you maybe talk about a little more about how it works? Exactly? How does it achieve this?
Roy Yin | TEA Project:
Yeah, sure. So, I guess we, I don’t want to dive into very technical details, but I can use a story, maybe it’ll make sense for you and the audience. But let’s say, imagine that we have a building where it has two floors. The first scenario is only the blockchain, the blockchain scenario, there are a bunch of workers who are tasked to calculate a steady stream of transactions. At the same time, they will need to maintain a ledger. Because these workers, don’t know each other, they cannot trust each other. So the only way for them to accept the transaction result is for them to calculate each of them to calculate for each transaction. So as you can see, I think everybody knows that it’s super inefficient to handle the transaction now. Now, in recent years, that there’s there has been some improvement, which is the layer two solutions, normally referred to as roll-ups, right. So in the roll-up scenario, that, you know, the workers have been divided into two groups, one group has been sent up to the second floor, which is that layer two, and they will handle or they will calculate the transactions in the layer two or the second floor, then once they get the summary of the batch of the transaction, they are handling, they send back the summary result to the layer one to the first floor. And then the first floor, workers will take that summary. They will use the, for example, the zero knowledge proof,algorhtym to make sure that the result is accepted. And this way is also because the algorithm is super complicated. And it takes a lot of computing capacity. So even though He improved a lot compared to the pure layer one blockchain, it still consumes a lot of time and capacity, which is still expensive for the user. Then in our scenario, for the TEA Project, we still handle it in layer one layer two structure. But we give this worker at second floor a special calculator. This calculator does two things. It knows that it’s calculator, whether they are , tempered. Second is that this calculator knows that whether when the work worker keying the numbers, they know whether the number is correct or not.
Spicey | OIG:
So very interesting. What would you say are the features that TEA Project will offer that really differentiates itself from the competition? I mean, decentralised cloud computing is becoming a very popular narrative. And you know, there’s sure to be competition for you. So yeah, how do you differentiate yourselves from the competition?
Roy Yin | TEA Project:
Okay, so I think there are, I think there are a couple of types of competitors. One is the web two big brothers like Google Cloud and Amazon, right. So obviously, compared to those centralised cloud computing services, we are decentralised so that’s, that’s our key differences. And when it comes to the web three-space, we also have some competitors or not so much of a competitor but we try to achieve the same goal to provide the decentralised cloud computing. But our technical role is quite different. For example, there’s this project called Definity. And they are trying to achieve decentralised cloud computing just like us. However, their way of doing that is to use the software algorithm to solve this problem. So, they are using a very complicated algorithm for the zero-knowledge proof that that algorithm consumes so much computing capacity, that it comes to the point that probably only a few organisations can afford the hardware that it can run that operates. Since we’re handling the decentralisation so only a few of them can handle can host this kind of algorithm, then it defeats its purpose, right. And as to TEA Project, our mining with TEA Project is actually very low cost. For example, when we were running the test net the miners in our mining contest only need to rent servers cloud service at the cost of like $10 per month. So it’s very affordable. And it’s in our design that once we launched our main net, your household, like IOT devices, could mine as well, in that way, we wanted to achieve the truly, you know, decentralised, like the main many nodes. And yeah, that’s the true decentralisation that will give you
Spicey | OIG:
really cool stuff, and quite a future to look forward to and you know, really anything can be used as, as a mining platform to, to a certain extent, right. With regards to decentralised cloud computing, and it’s good to explain, you know like you mentioned, the differences between, you know, how some other projects use software algorithms to solve this issue. And others, like yourself, use, you know, the more decentralised approach. So very, very cool stuff. Obviously, with a robust network and platform like TEA Project, you would need to have an accompanying native token to accomplish some of the features within that. So what utility does the native token bring to the ecosystem of TEA Project?
Roy Yin | TEA Project:
Okay, yeah, so we again, in the TEA Project, we have TEA token is, which is a utility token, and its value actually is packed into the computing power, or the computing capacity. So so that’s the I think that’s the connection between the TEA Token and the real world. Because at the minimum that I use, you can make sure that the TEA token is worht a certain computing power. Yeah. So I think because, in our ecosystem, there are three types of users that are will be using TEA Tokens, I think we can, we can go through them one by one. The first one obviously, is my miner, they will set up the mining machine and get rewarded for providing the public testing services and also get rewarded for hosting decentralised applications and the D app developers, if they wanted to have a node or a mining machine to host their application, they will need to pay the miner for the services. So that’s another way of using TEA token. And as a consumer, if you’re you wanted to use some of the decent D app, running on TEA Project, you will need to pay the D app developer TEA Token to be able to use their apps. So that’s basically how TEA token is used. And of course, there’s, there’s more. For example, if you want, if you want to, if you see some app is doing very well that you foresee that, uh, you know, we’ll have a lot of growth, then you probably wanted to buy some share of this, like a company share of this app. And so it also gives you the investment opportunities you can get confident from. Yeah. So again, it’s an ecosystem. So there are a lot of cases that the TEA token is needed, to really, you know, facilitate the whole ecosystem to operate.
Spicey | OIG:
Very good to see that there are many ways that the native token, you know, interacts with the platform, and how obviously, it will bring a lot of utility by like you said, you know, paying your miners and the cost of computing power, as well as interacting with these decentralised apps within TEA Project. So very, very cool stuff.
Twitter Community Questions:
Spicey | OIG: Let’s switch gears here and move on to our next segment here which is our Twitter questions segment. And these are questions that were randomly selected from our announcement about a week ago. And we’ll start here with question number one. And this person asks, Where will you see TEA Project? And how will it affect the environment of the crypto space in the next few years?
Roy Yin | TEA Project:
Good question. I think right now, people are all saying that the current web similar to the internet in the early 1990s. Right. So it’s very hard to use is expensive to use. And, and, you know, it’s not adopted by a majority of the population. So I think, I think one reason is that it doesn’t have a framework that allows the developers to develop decentralised apps easily. So I think that that’s something that a TEA Project can help. So for a developer, to deploy a decentralised app, in our team project,, the effort is very minimal. They don’t need to learn new languages, they probably just, if they already have the app, probably just pour the app into our team project framework. They don’t have to write everything from scratch. So these kinds of things will definitely speed up the development of the website. So I think that’s something that we are as a key product member, we are very proud to help out too. Make web three more accepted for people.
Spicey | OIG:
Yeah, really, really moving the barrier of entry for web three development and accessibility, you know, just increasing that accessibility. Yeah, very cool stuff. Let’s move on to question number two here. And this person asks, marketing is an essential element of every project. So everyone knows the potential that a project can generate? What is your strategy? What is your strategy to attract new users and investors and maintain it in the long term?
Roy Yin | TEA Project:
Yes, sir. It’s a good question. I think that for any kind of new technology, they’re always, you know, early-stage adopters. So there are people’s like new technology and truly believe that a new type of technology will change our work for the better. And so so that’s the kind of people that we have for our community. I think in our community, a lot of people are interested in finding out How a project works, right? So they came with questions And then we encourage them, to participate in our test net mining contest. So then, once they get the first-hand experience of the contest, they start to make sense of it. Because we have to admit that TEA Project involves a lot of new concepts, and it’s very tech, a lot of technology involved. So it is probably a new concept as well. So it does take a bit of time for you to really make sense of it. So the best way of doing that is to go through our mining contest, and then you’ll find you’ll start to make sense. And yeah, once they make sense of it, they start to believe it. Right. So then they stay in the community, and continue with the mining contest, accumulating our contests the prize, which will be a valuable committee as seats for, you know, after our neck launched. And by the way, that’s also how we get to know our investors as well, our investors have tried our test net by going through the mining contests firsthand. So then, once they try that out, and they start to believe it, and you know, that’s how we get to know the power investors.
Spicey | OIG:
That’s 100%. And I think, for the most part, it’s, the main way to get introduced to a project is to actually have some hands-on experience with it. And, you know, by having that test net and having that like, competition that you were, or the contest you were speaking of, it really opens the doors for people to really wrap their head around what it is, you know, TEA Project is bringing to the table. So this is great. Okay, perfect. So question number three comes from this person here who asks, what do you consider to be superior when you compare yourself to other major blockchains? Can you evaluate TEA layer two in terms of factors such as transaction speed, gas fee and TPS?
Roy Yin | TEA Project:
Okay, yeah. Yeah, we would get this kind of questions a lot. But we wanted to clarify first, TEA project is not a blockchain. So it sits on blockchain. But it itself is not a blockchain. So we’re not competing with the major blockchains we collaborate with them to make their ecosystem richer. Right. So that’s the first thing I want to clarify. What TEA project does is that it’s independent of the layer one blockchains. That means that it’s very developer-friendly. Imagine you are one developer, you’ve developed one, app, centralise the app, then you don’t have to, you don’t have to worry about support for different block blockchains. TEA Project is completely you know, support multiple blockchains. So, that basically means that you tap into the ecosystem without boundaries right. So, that could be that will save a lot of effort from development. Yeah. And from the blockchain the major blockchain perspective, because of their execution speed and because of their cost of gas fee, I think that they probably will lose a lot of potential customers, , those potential customers will not be served in the current setting, right. So, if they offload some computing tasks to TEA Project, and then with the speed of the TEA Project, and the minimum costs of the TEA Project, these portion of the user will be well served. And this will make their ecosystem much stronger. So in the juice of it, we’re not competing with the major blockchain but we are collaborating with them and when it comes to the I’m the tech, the variables that are whether that like transaction per second or so it’s it’s totally relevant and not relevant in this case because ours executing speed is close to the current cloud computing. So people won’t notice their work, there’ll be some slow execution speed or so. So it’s like, right now you’re using, for example, Amazon Cloud or Google’s cloud, you’re wouldnt care, the transaction per second, because you’re not aware of.
Spicey | OIG:
Yeah, I mean, because we’re still in the very infant stages of blockchain technology in general, we really pay attention to all these factors of speed and cost, because we haven’t really seen the full potential of a lot of platforms, including, you know, cloud computing, as well. So obviously, as we go, you know, we evolve and time will really be the ultimate telling factor in this, these aspects will start to really blend in with all the other projects achieving the same thing. And really, the one that stands out is reliability and security. Right. And, and that’s going to be the most important factor. So very, very well said, Right. Thank you for answering those two questions. And that ends our Twitter questions segment for this AMA. So let’s just wrap up here by, you know, talking a little bit about your roadmap up to this date, what are your major accomplishments within TEA Project? And how, how does the future look for you guys?
Roy Yin | TEA Project:
Sure. So we probably have been on the test net for almost a year. The next biggest milestone for us is our epoch, epoch 11. Also on the test net, but it will be the independence of layer one blockchain, that feature will be fully implemented. And once we have that, once we have that milestone, then we are very close to the readiness of that main net launch, which could be early next year. So that’s basically the two major milestones down the road.
Spicey | OIG:
Okay, so for all our viewers watching today that want to get more of TEA Project, where can they go? Where can they find TEA Project?
Roy Yin | TEA Project:
Okay, we have, we have a project on our website. And we have social media channels like Twitter and telegram. I think that after this, you guys can go to those channels to find us. And I think that, uh, I want to, I just want to specify one thing on the price we provide for our twitter questions is a bit of special because normally it’s US dollars, but this time we provide $100 Worth of coffee. The reason we provide that is that we really encourage an audience. If you find it interesting to come to our mining contest and use those copies, you can directly join the contest and start to go mining. So that’s the reason that we use coffee instead of us now. Very cool.
Spicey | OIG:
Very cool. And I’m sure they can find more details of the contests on your website. Yeah, yeah, perfect. So for all our viewers, and especially the winners, if you do get those coffee tokens, the next step should be the TEA Project website. And all the links will be in the description below. So you’ll have plenty of time to see and learn more about TEA Project. While right thank you for coming over today. And it was a pleasure speaking to you. We really enjoyed speaking about the future of decentralised cloud computing. And obviously, you know, we’re very excited to see what TEA Project will bring to the table this year. So it was a pleasure speaking today.
Roy Yin | TEA Project:
Yeah, sure. Thanks, Romeo. Thanks. Thanks for holding, and hosting us here.
TEA Project
Website: https://teaproject.org/
Twitter: https://twitter.com/teaprojectorg
Telegram: https://t.me/teaprojectorg
Medium: https://teaproject.medium.com/
