On December 13th, Team Atomic had an AMA session with Everstake, a staking platform that specializes in PoS cryptocurrencies, in our Telegram Chat. The team members present on the discussion with our community were Sergii Vasylchuk (CEO and Founder), Vit Parkhomenko (Project Manager), Vlad Makarov (Investor Relations Manager) and Vadim Mozharivsky.
Here are the essential points of the AMA session:
Please welcome Sergii Vasylchuk (S), Vit Parkhomenko (Vit), Vlad Makarov (Vlad), Vadim Mozharivsky (Vadim) and the questions from our Telegram chat members (Q).
Q: What cryptocurrencies can I stake? Is it easy for beginners?
Vadim: Yes. It is easy. You can stake Tezos, Iris, Cosmos, ICON, Decred, EOS, ARK, QTUM, Algorand, IOST, IoTeX and Dash blockchain with Everstake
Q: In Everstake’s staking model, the consensus algorithm plays a very important role. In your view, how are PoS and DPoS different? Is Everstake a combination of both?
Vlad: DPoS is based on continuous elections. In DPoS networks, coins do not leave wallets of their users, so it is more trustless. Everstake is not a combination of consensus algorithms because we are not a blockchain network. We are a validator on various blockchain networks that are premised consensus algorithms.
Q: How do I know if my funds are really safe? Does Everstake have access to my funds?
Vit: In most of the cases with DPoS and LPoS, you are delegating the rights of your coins and not the coins themselves, so your assets never leave your wallet and we have no access to them.
Q: How is Everstake different from other bakers/validators?
Vlad: We focus on technology a lot. We believe that our primary role as a baker/validator is to constantly contribute to the infrastructure enhancement of the network.
Q: What are the current use cases of Tezos?
S: Strong focus on financial and DEFI projects, STO, tokenization of real businesses, stable token and other financial tools.
Q: How can Tezos compete with other blockchains or staking like Cosmos? What is the ROI?
Vlad: In any PoS and PoS-based networks, ROI is dynamic meaning that it depends on a variety of factors and changes every block. If we compare Tezos against Cosmos with the 100% coins staked, which minimizes ROI, Tezos would yield ~5.5% and Cosmos would yield ~7%.
Q: How did you make the rewards full history in Tezos? Will this feature be available on other blockchains?
Vadim: We parsed all blockchain history on Tezos. We will include others like Cosmos, IRIS, ICON, IOST, Algorand and Decred blockchains in the near future.
Q: What is your relationship with Atomic Wallet. How can your staking platform be integrated into Atomic Wallet?
S: We have a partnership because we share common values. Atomic provides a convenient way of delegating/staking. Everstake is one of the staking platform/provider/baker/validator of Atomic.
Q: Why did you decide to run a baker/validator on Tezos and Cosmos?
Vit: We’ve been following Tezos since ICO in 2017 really and never had any doubt we’d be running a node once the network launches. It offers a unique set of features: formally verified smart-contracts and on-chain governance.
Vit: Speaking of Cosmos, it was interesting because of IBC. It was an experiment and we jumped in once we saw the opportunity. In the future, blockchain interoperability is a must for any big blockchain in our opinion.
Cosmos is one of the fastest platforms and scalable for real like enterprise tasks. From a business point of view, Tezos and Cosmos have good balance inflation <> security and big community.
Q: What are your plans for 2020?
Vadim: More developments related to statistics and analytics.
S: To cover major PoS blockchains, provide public full nodes access for developers and dapps and create useful tools for staking.
Vit: One of the biggest plans is to finish work on the Everstake dashboard. It’s a resource that provides an extensive array of information on every blockchain and also helps to track the performance of customer assets with analytics and a lot of different data.
Q: Do you have any plans for supporting staking of ETH 2.0 once it is released?
S: We are waiting for ETH 2.0. We believe that it could boost the staking market. Technically, we are ready.
Vlad: We are certainly planning to support the staking of ETH 2.0. It is going to be big, so wait for it.
Q: Do you have any plans of adding PoW mining soon?
Vadim: Yes. So far, we only support PoS.
Q: Do you have any plans of developing a compound-a-like product apart from Everstake?
S: Any new product should find the market fit. Staking is a bit different from financial instruments because we do not keep customers crypto, so we can not build compound-a-like tools at least now.
Q: Are you planning to develop an application to make our staking a seamless one?
S: We currently do not have an application but it is in the plans. Atomic and other wallets are your applications for staking.
Q: Do you have any plans to develop a mobile app of your staking platform for handy access?
Vit: We are thinking about it but I believe is a bit early because there is no good web tool to cover customers’ needs. Before coding a mobile app, we need to find customers’ problems to solve.
Q: Everstake and Attic Lab are well-known for hackathons and blockchain meetups. What are your next plans?
S: Well, next year we are thinking about making Tezos Education programs for local students. After that, we are planning about hackathons. This way, we are building the HQ community.
We were glad to host Everstake on our Telegram. Thanks to the team and all the members of the session!