The MikoBits Show

Originally aired on August 30, 2023

In this episode of the MikoBits show, host Miko Bits interviews John Reynolds of Aleo, who is involved in running the ZPrize competition. ZPrize aims to advance the industry of zero knowledge proofs and the mathematics of cryptography. The competition consists of several categories focused on hardware and software development in the field of zero knowledge proofs. The winners of each category receive a cash prize. The discussion covers the purpose of ZPrize, the prize amounts, the different categories, the concept of zero knowledge proofs, the potential applications of zero knowledge proofs in various industries, and the scalability of the technology.

What is the ZPrize competition?

• It aims to push the industry of zero knowledge proofs forward.
• The competition includes several categories focused on different areas of the industry.
• Winners of each category receive a cash prize, with a total of three categories for the current year’s competition.

The prize amounts for ZPrize

• There are three categories, each with a baseline prize starting at $300,000.
• The winners receive the entire prize amount for each category.

The categories for ZPrize 2022

• Two categories focus on accelerating multi-scalar multiplication (MSM) in zero knowledge proofs, specifically on FPGA and GPU platforms.
• The third category is sponsored by Aleo and focuses on high-throughput signature verification within a zero knowledge circuit.

The concept of zero knowledge proofs

• Zero knowledge proofs allow for the proving of knowledge or information without revealing the underlying data.
• They provide proof of computation, verifying that a value was computed honestly or that a computation occurred without revealing the input data.

Potential applications of zero knowledge proofs

• Identity verification: Zero knowledge proofs can provide privacy and security in identity verification processes, eliminating the need for centralized providers.
• Financial applications: Zero knowledge proofs can enhance the privacy and compliance of financial transactions and credentials.
• Healthcare and telemedicine: Zero knowledge proofs can protect the privacy of health information while allowing for verification in medical care.
• Education: Zero knowledge proofs can verify educational credentials while protecting the privacy of personal information.

The scalability of zero knowledge proofs

• The industry is still in the early stages of scaling zero knowledge proofs to be integrated into various applications.
• Challenges include the transition from legacy systems, but advancements in hardware and web3 technologies are helping to accelerate progress.
• The goal is to achieve internet-scale verifiable computation at a reasonable cost, meeting regulatory compliance requirements while preserving user privacy.

Originally aired on August 11, 2023

MikoBits interviews Evin McMullen from DISCO about decentralized identity and its role in the metaverse. DISCO aims to eliminate the need for filling out forms by allowing individuals to control and share their own identity and data. The platform enables users to carry their information in a “data backpack” using their blockchain keys. This allows for the seamless transfer of data between different apps and platforms, increasing personalization and reducing the risks associated with traditional identity systems. By integrating decentralized identity into the metaverse, individuals can enjoy personalized experiences and enhance their interactions within digital and physical environments.

What problem does DISCO solve?

• DISCO allows users to avoid filling out forms and repeating information by creating a data backpack that carries their identity and data across different apps and platforms.
• This eliminates the high switching costs associated with moving between different apps and increases data security and privacy.

How does decentralized identity work?

• DISCO enables users to use their blockchain keys to control and share pieces of information written about them in the form of credentials.
• These credentials, similar to plastic ID cards, allow users to express specific aspects of their identity and preferences in a portable and secure manner.
• The use of blockchain keys adds a new superpower to the keys, allowing users to write, send, receive, and use information about themselves securely.

The role of identity in the metaverse

• The metaverse, according to DISCO, is the ability to show up in any digital or physical environment and experience personalization based on the shared aspects of one’s identity.
• Identity is the key to unlocking a metaverse that is not interrupted by sign-up forms and offers personalized experiences and opportunities tailored to individuals.
• By providing more than just financial information on-chain, individuals can enjoy unique and authentic human connections and personalized content within the metaverse.

The value of DISCO in the current landscape

• DISCO has gained over 12,000 users through its public data beta, with support for over 130,000 credentials.
• The most popular application within DISCO is the “GM” credential, which allows users to send and receive “good morning” greetings.
• DISCO’s focus on user preferences and personalization has resonated with users who enjoy the ability to express different facets of their identity in a low-stress and fun way.

The challenge of transferability in decentralized identity

• Transferability of credentials can pose risks, as it enables the sale of an individual’s entire identity.
• DISCO aims to mitigate this risk by focusing on the entanglement of multiple identifiers and data points, making it less likely for users to sell or give up their full set of credentials.
• The goal is to create a concentration of risk within the interconnectedness of different addresses, rather than relying solely on a single key or credential.

Navigating the future of identity in a changing landscape

• The future of identity lies in the balance between protocol-centric design and human-centered design.
• Protocols need to consider the limitations and behaviors of human actions to ensure the development of user-centric products and solutions.
• DISCO aims to prioritize user needs and experiences above all else, providing a platform that bridges the gap between rational protocol systems and the complexities of human behavior.

Originally aired on July 28, 2023

In this episode of the Miko Bits show, host Miko Bits interviews Åke André, the founder of Crypto Rogue Games. They discuss the future of web3 gaming and Åke’s project, Crystals of Naramunz. Åke shares his background as an OG gamer and his journey in the gaming industry. They talk about the potential impact of web3 on the gaming industry and how it can disrupt traditional models. They also delve into the design decisions and mechanics of Crystals of Naramunz, including skill progression and dynamic dungeons. Overall, they are excited about the future of web3 gaming and the possibilities it holds.

What is Crystals of Naramunz?

Crystals of Naramunz is an upcoming free-to-play action RPG set in the post-apocalyptic steampunk world of Naramunz.

Check the game here https://www.naramunz.com/

and follow their twitter for more information @naramunz

@AkeAndre

The Future of Web3 Gaming with Crypto Rogue Games Founder Åke André

• Discusses the game Crystals of Naramunz, a steampunk-themed isometric action RPG for PC.
• Talks about his background as an OG gamer and his experience in the gaming industry.
• Explores the potential impact of web3 on the gaming industry and how it can disrupt traditional models.
• Highlights the design decisions and mechanics of Crystals of Naramunz, including skill progression and dynamic dungeons.
• Emphasizes the importance of user engagement and customization in web3 gaming.
• Looks forward to the future of web3 gaming and the opportunities it presents.

00:13 – Ake Introduction

1:42 – Ake Background in gaming

11:49 – Free-to-play model

26:28 – Ake’s perspective on the impact of web3 in gaming industry

30:08 – Design desition & contrast with Crystal of Naramus

46:09 – IP in gaming

56:24 – The US Gaming Market Regultions, SCC vs. Asian Gaming Market

1:07 – The Virtual Reality concept that build the Pyramid of Egypt

1:11 – The future of Gaming with Web3 & Blockchain technology

Originally aired on July 16, 2023

In this interview, Ismael Hishon-Rezaizadeh, CEO of Lagrange Labs, discusses the importance of cryptographic proofs in ensuring trust and verifiability in the digital world. Cryptographic proofs, which rely on mathematics, allow for the deterministic and factual verification of information. The conversation delves into the distinction between cryptocurrency and cryptography, emphasizing that the latter serves as the foundation for securing the internet and verifying the authenticity of information. With the advancements in AI and emerging technologies, it has become increasingly challenging to ascertain the truth and provenance of data, making cryptographic proofs even more crucial. The discussion highlights the need for trust in various aspects of life, beyond the realm of traditional financial transactions, including identity verification and content authentication. The interview also explores the concept of trust minimization through cryptographic proofs, which enable the verification of properties across different blockchains and ecosystems. The conversation touches on the potential future of the internet, with a focus on strengthening trust and creating a more transparent and secure digital environment.

How do cryptographic proofs ensure trust and verifiability?

• Cryptographic proofs use mathematics to deterministically verify the truth of information.
• They allow for the verification of properties that would otherwise rely on trust-based systems.
• Cryptography serves as the foundation for securing the internet and verifying the authenticity of data.

How can cryptographic proofs address the challenges of the evolving internet?

• As the internet evolves and AI advances, it becomes harder to determine the truth and authenticity of data.
• Cryptography can provide a foundation for verifying information, including countering deep fakes and ensuring identity and content authenticity.
• Cryptographic proofs enable the extension of trust and secure communication between different blockchain ecosystems.

What is the significance of trust in the digital world?

• Trust is crucial in establishing secure digital interactions, from financial transactions to social interactions.
• Cryptography provides a means to create trust by verifying the underlying information and properties of data.
• Trust is essential as the internet continues to evolve, with the rise of AI and the increasing difficulty of determining truth and authenticity.

Originally aired on July 7, 2023

Megan Knab, the CEO of Franklin Payroll, discusses how her company solves the problem of managing payroll for web3 companies. Franklin allows businesses to process payroll in both USD and cryptocurrency, offering a mix of both options. Knab shares her personal experience as a CFO, which led her to start Franklin, and highlights the challenges faced by web3 companies in handling multi-currency payroll. She also explains the various profiles of ideal customers for Franklin, including web3 startups, web3 consulting firms, and companies looking to utilize crypto as an employee benefit. Knab touches on the future of payroll, including the potential for regulated stablecoins, the role of DAOs, and the transformation of work in a web3 economy.

The Problem Franklin Solves

• Franklin allows businesses to process payroll in both USD and cryptocurrency, offering a mix of both options.
• It solves the challenge of managing multi-currency payroll for web3 companies, which typically operate globally and have workers in different jurisdictions.
• The traditional payroll systems are not able to accommodate crypto payments in a compliant manner, making it difficult for web3 companies to pay their employees.

The Ideal Customer Profile for Franklin

• Web3 startups and consulting firms that are already operating natively on the blockchain and looking for a compliant payroll solution.
• Web2 companies that accept stable coins as payment and want to incorporate them into their compensation packages.
• Companies with workers based in the US who prefer to receive a USD paycheck but also want the option to receive their bonuses or token distributions in crypto.

The Future of Payroll and Web3

• The use of regulated stable coins is likely to be the future of payroll, especially for inter-bank settlements.
• The adoption of DAOs and crypto-native companies opens up new possibilities for payroll management and compensation packages.
• The integration of privacy technology is essential in payroll systems to maintain confidentiality and protect sensitive employee information.

Originally aired on June 28, 2023

SUMMARY/ARTICLE:

MikoBits interviews Elena Nadolinski, the founder and CEO of IRON FISH, a privacy platform for all crypto assets. Elena explains the importance of privacy and security in the world of cryptocurrency and how IRON FISH aims to provide a solution. She discusses the process of setting up the system, which involves the creation of a private key that is then used to generate a validation key. Elena emphasizes the need to discard the private key once it has been used to prevent any potential backdoor attacks. She also highlights the challenges of maintaining privacy and protecting user data in the rapidly evolving world of crypto. Overall, the episode provides valuable insights into the importance of privacy in cryptocurrency and the efforts being made by IRON FISH to address this issue.

What is the importance of privacy in the world of cryptocurrency?

• Privacy is a crucial aspect of cryptocurrency to protect user data and transactions.
• Maintaining privacy ensures that the user’s identity and financial information are safeguarded.
• Privacy measures also prevent unauthorized access or backdoor attacks.

How does IRON FISH provide a privacy platform for all crypto assets?

• IRON FISH offers a solution for privacy concerns in the crypto space.
• The system requires the creation of a private key during setup, which is then used to generate a validation key.
• It is essential to discard the private key after use to prevent potential backdoor attacks.
• IRON FISH aims to empower users to take control of their privacy and secure their crypto assets.

What are the challenges of maintaining privacy in the crypto industry?

• The crypto industry is rapidly evolving, which poses challenges in maintaining privacy as new technologies emerge.
• Ensuring user privacy while complying with regulations is a difficult balance to strike.
• The constant threat of hackers and cyberattacks makes privacy protection a top priority.

How does IRON FISH address privacy concerns in the crypto space?

• IRON FISH provides users with a secure platform to protect their crypto assets.
• By focusing on user privacy and utilizing innovative technologies, IRON FISH aims to set new industry standards.
• The company is committed to continuously improving and adapting its privacy solutions to stay ahead of potential threats.

What are the key strategies for protecting user data in the crypto industry?

• Implementing strong encryption and security measures to safeguard user data.
• Educating users about the importance of privacy and best practices for protecting their crypto assets.
• Regularly updating security protocols to stay ahead of potential vulnerabilities and threats.

What is the future of privacy in the cryptocurrency industry?

• Privacy will continue to be a crucial aspect of the crypto industry as it evolves.
• As regulations and privacy concerns increase, crypto platforms must prioritize user privacy and data protection.
• Innovations in privacy technologies and solutions will play a significant role in shaping the future of the industry.

Originally aired on June 10, 2023

Mangrove Exchange aims to solve the capital inefficiency problem in Defi by providing an innovative liquidity provision mechanism. The platform allows liquidity providers to place their liquidity anywhere and only deliver it when needed, reacting to market liquidity provision. By attaching a piece of code to their offers, liquidity providers can provide an efficient way to deliver liquidity and optimize their strategies.

How does Mangrove Exchange work?

• Liquidity providers can place their liquidity anywhere and only deliver it when needed.
• A piece of code is attached to their offers which delivers liquidity when the offer is matched with a taker.
• Compensation is given to the taker if the liquidity provider fails to deliver.
• The delivery mechanism ensures that the liquidity provider has the necessary liquidity when needed.
• An economic equation must be balanced by liquidity providers to optimize their strategies.
• The platform allows for the liquidation of capital while having zero capital.

Originally aired on May 8, 2023

Yuki Yuminaga, an analyst and expert in zero-knowledge computing, talks about zero-knowledge proof (ZKP), an emerging cryptographic primitive that allows proving the validity of certain information without disclosing it. ZKP can compress data and verify the validity of data, making it valuable in the crypto and non-crypto space.

What is ZKP and how does it work?

• ZKP is the application of polynomial functions to prove the validity of information.
• It allows verification of information that is not known, by extrapolating data with just a few points.
• ZKP compresses data and verifies the validity of data.
• ZKP roll-up projects are using ZKP in the form of ZK VM or ZEVM to focus on network scaling.

00:57 – What is Zero-knowledge proof (zkp) and how this can be used?

5:12 – Business used of data compression

10:28 – Different approaches in ZK

18:30 – What is the future of Layer2 scalability?

22:15 – Rollups vs App chains

24:17 – ZKP rollups as exchange

35:09 – ZK optimization

37:00 – Is the future of bridging the ZK?

47:40 – the future of ZK for scalability

Originally aired on April 24, 2023

Barney Mannerings, co-founder of VEGA Protocol, discusses the problem VEGA aims to solve by providing a decentralized way of trading and creating advanced financial products like derivatives. He highlights the need for a decentralized financial system to complement decentralized digital assets and addresses the regulatory pressures faced by centralized exchanges. Barney also shares insights into the development of VEGA Protocol and its progress in the test net phase.

VEGA Protocol: Revolutionizing DeFi Derivatives with Barney Mannerings

• VEGA Protocol aims to solve the problem of creating a decentralized financial system for trading and advanced financial products like derivatives.
• The decentralized nature of VEGA Protocol eliminates the need to trust centralized exchanges and instead focuses on transparency and verification through public open code and on-chain processes.
• The recent CFTC complaint against Binance highlights the regulatory pressures faced by centralized exchanges and the need for decentralized finance alternatives.
• Barney believes that the future of finance lies in open-source financial infrastructure, which promotes transparency, inclusivity, and innovation.
• The development of VEGA Protocol started in 2018 with the creation of a team, white paper, and prototypes, followed by various iterations and testing phases.
• The project has reached an exciting phase with the completion of the feature code release and the upcoming deployment on the mainnet after thorough testing and community engagement.

0:12 – Introduction of Barney Mannerings from Vega Protocol
0:36 – What problem is Vega Solving?
1:30 – Binance CFTC complaint viewpoint
6:31 – When did Vega Protocol start?
13:26 – DeFi Derivatives’ best products
17:04 – Oracles and RWA (Real World Assets) connections
25:43 – Bitcoin market trading regulation and casino regulation similarity
27:32 – Open-source and financial system
31:05 – What are the mechanisms and special advantages of the Vega Protocol?
45:20 – What is Barney’s perspective in Cyber security-based sort of derivatives

NFTYCO stands for NFT you can own. And I think that now we’re in a cultural gateway point, whereby which people who haven’t yet heard of NFTs or technology that brings, they’re really curious to how many things can be NFT are viable?. One of the first things that we did at NFTYCO was, you know, turn sneakers into NFT’s. And so, we found that by having a representation of, you know, something that’s so abstract as not fungible tokens, like what does that even really mean? It helps people to come into the metaverse with us. So we were the first to basically, you know, provide an algorithmic approach to sneaker culture. You know, we took the colorways from NBA 2K, NFL teams, double A team’s streetwear brands by Supreme and we tokenize them.

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Host Miko helps viewers understand the culture of this exciting space. This episode features an interview with Consensys’ Praneeth Srikanti.