Listen and read along @xanoxt explain the Rudex project last Saturday 30 Sept. 2017

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Transcript

Rudex Project Update with @xanoxt

@officialfuzzy [00:02]: Welcome everybody to another beyond Bitcoin hangout where you can power yourself up with your own tokens. Today is Saturday September 30th 2017 and this is hangout number 226. We are still in the beta stages of Whaletank hangout and Whaleshares so there will be cool things that do come in the future. But as of present we have a couple cool things already where we like to benefit the individuals who have a little bit of interest in creating their own tokens and potentially leveraging them to help their own projects.

Every week people join up to the whaletank to talk about their projects provide updates in what they're doing in the crypto space. And hopefully they're also considering how they can leverage the creation of the token and the utilization thereof, to not only empower their project but empower the other people who want to hold those tokens and leverage those tokens to help the project as well. This is one of the ways that I'm trying to incentivize people to play around in the sandbox, use these tokens, see what works, see what doesn't and help us to document the process and the progress or sometimes the pitfalls. The entire story thereof.

Now with that said everybody who wants to post a project can go to the weekly RSVP threads at steemit.com forward slash where I post the RSVP hangouts, hangout threads and I resteem other people's content. And every week these individuals who join up are allowed to RSVP.

We ask them to get upvotes from people who are within the community and outside of the community to join up to do so as well. The reason for this is it shows us that there are people within the ecosystem who are willing to upvote you and kind of step in and say yes I backed this person. If you do not back a person and you do not believe in what they're doing feel free to post and a reply, as opposed to a flag, giving information on what is going on with the individual with the project at hand. And if there's something that ends up being important that we needed to know about I will always gladly tip people who bring relevant information in a productive manner.

Now with that said there are a few cool things that we offer with power-ups to people who do create their own tokens and post the link to where it trades on the Bitshares DEX. If you have a token and you are willing to distribute it to these hangout attendees and also have it on the Bitshares DeX, you are able to double the chances of you becoming of the first or increase the chances of being in a preferable order, meaning the first first second or third in these hangout segments. If you have a token holding this token and posting the link to it will double your chances as one powerup.

As the second powerup we have 15 minutes that are established for every project to have as a base. However you can earn extra minutes by share dropping on the people who are going to attend this hangout and are going to sign the guest list that I will provide. Now if the community is interested in that share drop, and once a part of that share drop say yes, we can give you up to ten extra minutes to talk about what is going on. I will always consider whether the community is wanting to add extra minutes because of the conversation too as well or just for the tokens. But we will definitely be able to offer you extra time if you want to leverage those tokens. And finally we give out well over five six hundred dollars a week this hangout alone. Historically has actually been well over a thousand dollars a week to the people who participate.

And there's nowhere else that I know of that you can transparently do this in the Steem ecosystem and earning these tokens. So I urge everyone to consider joining up because those people who do have their own token and join up and provide the link for the final powerup that we offer, you will be able to potentially earn one thousand beyondbits which is worth approximately four hundred dollars at present.

So with that said at the end of every week whenever I choose that person, if you believe that your token is more valuable and that there might be an opportunity that that you think that I missed, you can always reach out to me and talk to me about it after the fact, and maybe maybe I will change my mind. But if you do not have a token that you're leveraging, you will not be able to earn these thousand beyondbits. However I do take the amount that is earned and I distribute it to the people who join these hangouts as guest speakers.

So with that said if you would like larger payouts consider trying to get the whale tank hangouts uploaded further! Tell people about them. Tell people about your project and send a link to the Whaleshares hangout. Do what you can to promote us, because promoting us and what we're doing here is promoting everybody and also giving us the resources to continue paying you.

Now with that said today the order of precedence has been established. from Rudex, at six dollars and seventeen cents. Nutela, had some things that he was going to talk about with Decent, and he is standing at three dollars and twenty seven cents. is going to be talking about addressing philippine problems monthly. And that is hashtag for better Philippines on Steemit. And he is tied with who will come third. a fitness sessions we'll be following that and that will be . We will then follow this by GS gaming. And we will cap off the day with and his project buildawale updates. So with that said I thank everyone who has joined up today and who join us every week. And I thank you all for the little things that you do that help us. All of you offer incredible value. And all of you offer unique value. So always try to consider how you can leverage that to help each other because that's how we form synergy and create ridiculous amounts of value.

Now with that said I'll go ahead and I'll ask you are you ready to step up to the plate and give everybody an update on what's going on in the Rudex ecosystem?

@xanoxt [07:44]: Sure and I'd like to begin well you said something about tokens and if you guys know big Steem started as a translation project for posts on Steem and for all the things related to BtiShares, to Steem [and] to Graphene technology in general. And we were at some point I think it was like last December or maybe January this year [that] we're considering creating tokens to sell translation things and with this whole thing about community tokens we might consider doing that actually but it's something that I just wanted to say for like kind of historical reasons. We have a team of translators and we have quite a bit of people who asked us to translate things.

When we started we were thinking about how to monetize what we are doing because you know most of things we do we do for Steemit votes and Golos votes. And sometimes they give you nice payout and the translator is happy because the money goes to the translators. But sometimes not so much and we were thinking about things that would allow to have some sort of stable income. But instead we went and start doing our own interface for bitshares and that also started as the translation project.

Because bitshares didn't have a Russian interface at the time and we were approached by testers who said like "you guys are working on this maybe you want to do Russian tools translation?" We said yeah sure and then after we did that we thought "okay we have this interface translation we could probably create our own interface and have a lot of ideas about what we want to see on bitshares". And that way we had an ability to fullfill all of them. For example one of the things that that we have that's different from when BitShares started is our telegram based trollbox that we have a sandboxed iframe with the chat bot. A lot of people say that was a security problem and we spent a lot of time to safeguard this. At some point we were considering maybe seeing if there's code for chatbro and working on our own [version] so we would know that it's safe enough. Because when you are dealing with cryptowallets such as Bit- Shares DEX essentially you can't have too much security.

Anyway one of the things that we always wanted as a Ruble MPA (Market Pegged Asset) and we created it and gave it to the committee. So it's now an official Ruble currency MPA of. BitShares and all price feeds for it are provided by producing witnesses. And also after that, since we position ourselves as Graphene ambassadors for russian-speaking audience we also worked and talked with communities of Peerplays, of Muse , of Golos and of Steem and Bitshares itself and created 0% marketfee gateways that allow people to trade their their tokens and exchange their tokens from Graphene based networks without any friction other than paying miniscule Bitshares commissions.

That is made possible because we don't have any investors that we have any responsibilities [to] in turning a profit and [things] like that. And also [because] we have an active witness in all those networks. In Bitshares we're a producing witness. In Peerplays and in MUSE we're a producing witness and in Steem and Golos we are in the top 20 which is maybe one or two percent ,or I don't know several hundred thousand or like millions of vests away from being a top 19 witness and producing a block every round. But even even without being there we're still close to the top.

On Steem currently we've been running witness since spring. I think it was late March or early April when we announced our the launch of our witness. We are still not in top 50 so if you want to vote for a witness to support whatever what we are doing, you'll have to input the witness name in the field for voting for non-in-the-top witnesses and this name is "Blockchained" like block chain ed. H opefully we consider that most likely if enough people vote for us we have to be made like [rank] 30 and maybe eventually make it into the top. But top 30 would be nice and I think it would be enough to allow us to accelerate what we're doing by quite a bit. Next up in the things that we are planning to do: we are currently tinkering with with the. Ethereum nodes. We have to run one to be able to gate ERC20 tokens and our first ERC 20 token, once we have that operational is going to be EOS and I'm not sure on the particulars yet but most likely will have a 0% market fee for. EOS token only because at some point it's going to be a Graphene based token. And once that's happened we'll create a gateway for EOS.

Because we think that having Bitshares as a premier platform for EOS tokens and all the tokens created on EOS is achievable and is actually desirable because as far as I know there are projects on creating DEXes on EOS itself but we have the positioning to be first such a DEX without actually porting to EOS because graphene chains have an ability to sidechain to each other and hopefully within the next half a year so teams on EOS and other chains would realize the tools to allow that and do all the research required for that.

Next up we are probably going to try and backport escrow functionality from Steem into Bitshares. And we have a team of people who can work on that. Possibly as soon as we are sure that yeah that's feasible for us in a short term will create a working proposal for that if no one beats us to that. Because escrow functionality would allow creation of peer to peer gating. So you will have something along the lines of local bitcoins. Except local bitcoins are a centralized service that allows peer to peer exchanges of bitcoins.

[That said] we were researching using the multi-sig schemes for that and decided that, while it's possible it's still a bit clunky. That's why we kind of shifted it some time into the future. Once the tools that offer more elegant solutions are in place.That's probably all for now, if you have any questions... Oh yeah, another thing is; hopefully if you are going to Steemfest you will be able to see me if I get my visa done in a timely manner. Because if that happens I'll go to Steemfest and do a presentation there. But I'll know in maybe a week or week and a half.

@nutela [20:07]: Okay there's other projects that are based on graphene like Decent. Will it work also for them? Like the exchange?

@xanoxt [20:19]: Yeah we translated a lot of text for them and we are planning to have a. Decent gateway also powered by being a witness on Decent Network. But it's probably going to be after an ERC20 gateway. Since it's not that hard to create gateways for graphene-based systems for us, it might happen before the ERC20 gateway but I'm not sure on the timeline. But yeah that's in our plans and if you launch in a Graphene based Network and you have a solid community and solid business case for use of blockchain and are looking to listed it we are open to providing gateways to the DEX because as far as we are concerned DEX is the thing that tie all the Graphene based chains together. And any other chains as well.

But we first look for several things: one of them is; if the blockchain in question has any sort of governance solutions, so you can in the future expect to see maybe Decred or I don't know - DASH. The second thing is privacy centric block chains that's something that we really like. So. Monero, ZCash, I don't know PIVX or well whatever, are the chains that have functionality we are looking into creating but that's probably going to be in 2018, maybe earlier. Our idea is that we want to move at the pace that's comfortable for us. So we are sort of you know when done, there are no ATA's but for Graphene based chains it's maybe like we got to asses about that, we got to to set up the infrastructure for that and now that we have, to test that and release into the to the public. And then another couple of weeks to do a public testing before we send the code upstream. So it can be included into the reference wallets and into any other the Bitshares based interfaces.

@nutela [23:38]: Okay that's very cool and then so if you would upvote something which actually belongs on a Decent Network or on any other graphene-based [chain] like your music or something then those gateways could be like configured to send the money on [forwards] or something like that?

@xanoxt [23:52]: You'll still have to do it via Bitshares. You send your money to for example. Decent gateway on Bitshares. You get Rudex decent tokens or whatever they're going to be called. Then you go and exchange them for, I don't know Rudex tokens, and can then send them to news network. And the thing is since there are a 0% market fees we're not actually taking any money from from those trades. And since most most graphene-based block chains don't have sending or receiving fees or transaction fees. We we have zero transaction fees to send it this way or that. And even with Bitshares and Peer- plays that have those transaction fees, since we are getting paid by the blockchain and the volume on on those movements is offset by those payments so we are able to afford that, there are minimum amounts that we process. But it's still it's still pretty friction free frictionless for you if you're sending money from one blockchain to another. But it still requires people willing to to trade. Well maybe depending on how liquid the market, is it may be best if you take your Decent tokens sell them for Bitshares and then say buy MUSE tokens for Bitshares but still [you have to exchange]. And yeah one of the things that the community can help us with is doing the... Yeah.

@officialfuzzy [26:18]: Okay really quickly I can give you about 20 more seconds if that's okay? We're a little bit over the 15 minutes but you're more than welcome to.

@xanoxt [26:24]: Yeah, okay no problem.

@officialfuzzy [26:28]: join up every week and give us a status as well.

@xanoxt [26:30]: Yeah sure cool. So one of the things that you can help us with is market making. If you have a lot of tokens or one of those chains, you are welcome to come and provide the liquidity for them. Yeah. Also vote for witnesses on all those networks. We are looking for votes on Steem and in the chat here there were details about that. Yeah, thank you for having me.

@officialfuzzy [27:01]: Thank and if people want to reach out to you guys and ask you any questions, or heck maybe they know of a chain or a graphene-based chain or something similar like bitshares 1.0 based kind of chain, a graphene 1.0 chain. How would they reach out to you and contact you to let you know about all this stuff?

@xanoxt [27:22]: You can leave comments on our steem blog. You could also contact us our own on telegram. We have a really heavy presence on telegram with several several groups for all these Graphene chains. So we have Peer plays RU, EOS RU, we have Bitshares DEX RU and all of them. Yeah I think yeah. In the chat here's the links, the device posting them.

@officialfuzzy [27:58]: Sounds good and thank you very much everybody for joining up to these hangouts and participating in them. Thank you for joining up to provide all this information. You see these are things that a lot of people do not know about and they should. And this is one of the means of us getting this information out in a way that is open and transparent. I just want to urge everyone here, who is part of these and those of you who are listening, to consider, we have 2500 listeners just on soundcloud a week. So we have people out there who are paying attention and listening to us as well. If you're a listener and or you're in here, please conside if there's a project that really seems like it's going to bring value to your stake and that you think that you can add value to them and give them a little bit of help in any way shape or form it, does not have to be always money. This is the space of disruption, the disruption comes from creation and innovation. So innovate and use your own value propositions to uplift and support these valuable projects. Because without these projects we're kind of standing still in the water. And it's really important. It's really important to help them. And I know that I don't always do it perfectly but. I will say this just always try if you can. If there's a project that seems valuable to you even if it's just one or two minutes to share something every week, it's something they might not otherwise have.

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