AMA session May 2

Progress is being made in our network development, with successful stress tests showing resilience even when nodes are halted. Stay tuned for more updates as we enhance our system!

Hello everyone, my name is Sergey Gnak, and I am the head of research for Waterfall Network. In this session, I am joined by Alexander Nashan, who is the team lead for Waterfall Network, and Y Leon, a senior researcher for Waterfall Network.

We have slightly adjusted our schedule regarding the internal AMAs. The main reason for this change was that we were conducting an AMA session in third-party communities, which is why the schedule has shifted. However, we will likely return to our regular schedule and continue to conduct more presentations outside of our community.

The plan for today is as follows: Alexander will share updates on our development progress, and then we will address the questions that the community has submitted. So, without further ado, I will hand it over to Alexander.

Alexander Nashan: Hello everybody! As Sergey mentioned, I am the development team lead. I would like to share my screen to discuss the current status of our development.

Previously, we announced that the hacking team had begun auditing our code. They found two issues:

1. We need to update our Go programming language to the latest version because previous versions have some bugs.
2. We also need to update a few packages since they also contain bugs.

Currently, we are working on resolving these two issues. Additionally, we are conducting stress tests on our network. This week, we aimed to test how our network performs when we stop half of the nodes or workers, which would disrupt consensus. We want to ensure that the network continues to operate when the nodes restart and reconnect to our consensus.

We launched our development environment with approximately 288 nodes, and we initiated the network. It functioned correctly until we stopped four nodes with half of the workers. As expected, the consensus stopped working, and many workers incurred penalties. We halted this operation at midnight on April 20th and relaunched the next day at midnight.

You can observe that our network, which was stopped, synchronized all the blocks and information, and then resumed working with consensus. The network is now continuing to operate. We also have an explorer available where you can see all the blocks created in the network.

We will continue to conduct these tests, and we plan to stop our network for about a week. This has been our focus over the last week.

The main aspect of our work is the click setup. Before I introduce the new features you will see in our next release, I want to show you how to create and launch a node and workers.

Firstly, you can visit our start site to download the versions for Windows, Mac, or Intel. Alternatively, you can refer to the documentation, which contains the same information. You can also check the changelog that we add to each release and download the latest version. I have already downloaded our upcoming version, and you can install it by simply double-clicking the file.

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Simplifying complex setups is the key to unlocking powerful tools—make it easy, and watch productivity soar.

We work on one-click setup. Before I introduce the new features you will see in our next release, I want to show you how you can create a note, launch a note, and set up workers.

Firstly, you can go to our start site where you can download your version for Windows, Mac, or Intel. Alternatively, you can refer to the documentation, which contains the same information. In the documentation, you can also look at the change log that we add to each release, and you can download the latest version. I have already downloaded our version, but it is a version that we will introduce soon.

To install the application, simply double-click on it, and you can install it like any other application on macOS or Windows. After installation, you can move to the application and wait for the waterfall to arrive in the application. Once the application is running, you will see that there is no data in it. Therefore, the first step is to add notes. You can do this by clicking "Add." Currently, we support local notes, but in the future, we will support remote notes on different servers like Google, Amazon, or other dedicated servers.

Next, you can choose which network you want to install. Currently, we support on-premise setups because my setup doesn't like launching. You should then select where to save the data. I will change the directory and create a new folder called "not one." After opening this folder, you can choose to download a snapshot. You will need about 135 GB for this download, as you need to download the snapshot, verify it, extract the files from the snapshot, and then remove the snapshot. When you download the snapshot, you will need about half of that size initially.

Next, you can choose some ports, especially if you want to run a second note. This port should be different, and you can check if the port is busy or not. You can also name your note and add it. Now, we are adding a note, creating some files, and adding records to the database. The note has been created, and the download has started. However, I don't see what the snapshot is doing right now; it seems to be processing.

After the setup, you can go to add workers. I have already added a new note because I have synchronized it. If the port is busy, I will change the port. Now my note is connected, and it is synchronized already. We will wait until the synchronization is complete.

Once synchronization is complete, you can go to add some workers to this note. You will need to regenerate a mnemonic and save this mnemonic for future use. Make sure to copy it down. I will verify my mnemonic now and want to add, for example, two withdrawal addresses that I want to use.

Now we are creating two workers, and we have two notes. You can see this information on the page. Additionally, you can go to the work note and see the details. Now you can activate it. You have this information about where to send transactions, and you can copy it. For example, we can go to MetaMask and send the same transaction.

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Simplifying complex processes leads to smoother experiences and faster results.

To begin, please go to that and verify my mnemonic. I want to add, for example, two withdrawal addresses that I want to use. Now we are creating to work, and we need to ensure that we have everything set up correctly. You can see this information on the page, and you can also go to work notes to check the details.

At this point, you can activate it, and you will have the information regarding where the transaction should be sent. You can copy this information; for example, we can go to Meta and send the same transaction. After confirming the transaction, once it is applied, it will activate the coordinator. Following that, we will activate the validator. You should expect to wait about one hour, maybe less, while the worker activates.

This is a quick instruction on how you can run and launch the node. In the next release, we are addressing some issues we encountered with the node. We are adding a download cloud snapshot feature. Additionally, we are introducing a function to delete workers and nodes. For example, you will see a delete button, but before you can delete, you need to stop the node. Once you stop the node, it will go to work, and then you can delete it.

I don’t want to delete it right now, but we can add a new node. I should change the first node, which is synchronizing, not this one that is creating. The node should be running and synchronized, and you can import workers. We previously had a command line (CL) that allowed us to specify how many workers you want to input.

In the next release, we will introduce downloading snapshots in the application without the need for the current side documentation. This will eliminate the need for selecting and downloading snapshots in future releases. We are also testing the import of workers from the Docker version. I believe this feature will be available by Monday, and your application will update automatically. However, you can also check the data in the menu.

Lastly, I want to mention that we currently have about 500 workers from the community. We have written a script that can check and find out how many community nodes have been installed. We estimate that we have about 5050 nodes and approximately 80 non-nodes from the community.

That’s all I wanted to share. Thank you, Alex, it was as always interesting. I believe this information is valuable not only to me but also to the rest of the people who will be watching this. I am now passing the word to Yan so he can share what he is doing on the research side. I will quickly go through the questions in one moment.

Hello everyone, our research team has just finished working on a technical overview of post-quantum cryptography methods known at this moment. Post-quantum cryptography is a field that focuses on the development of cryptographic algorithms resistant to attacks from quantum computers. Our work presents a...

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Post-quantum cryptography is the future of secure digital transactions, and we're on the brink of groundbreaking solutions. Stay tuned for what's coming!

I believe not only to me but to the rest of the people who will be watching this. I'm currently passing the word to Yan so he can share what he is doing on the research site. I will quickly go through the questions in just a moment.

Hello everyone, our research team has just finished working on a technical overview of post-quantum cryptography methods known at this moment. Post-quantum cryptography is a field that focuses on the development of cryptographic algorithms resistant to attacks from quantum computers. Our work presents a brief overview of existing and currently developing solutions that can be used to build cash functions and digital signatures in centralized networks. We optimistically anticipate that solutions suitable for industrial use will be available by the end of this year. This work was submitted to the I Tri blockchain community as a technical brief and will surely be useful for our project as well.

Additionally, we keep on working on the system design and adding new features such as theal knowledge protocols and parallel processing of smart contracts. These are sophisticated issues that take a lot of time to scrutinize, so our work is actively ongoing. Thank you for your interest.

By the way, yesterday we submitted the paper for post-quantum cryptography for peer review, so soon we anticipate it to be published, and we will be happy to present it to the attention of our community.

Now, let's quickly go through the questions.

Question number one: Do we already have mining? Well, there is a state in which a proof of stake is used. Mining is usually associated with the description of proof of work. However, you can test how Sten works on our test net, but this is not the main focus, and there are no real incentives at this stage.

Question number two: Have you already logged out of the test network? The answer is no; we have not. As Alex mentioned, we are already in the security audit phase. After the security audit, we are planning to launch, and I believe June is the right time to expect it.

Question number three: When will the pre-sale be happening? Again, we are not in charge of fundraising or token distribution, except for mainly technical work. You can get in touch with Bread and Wang in our Telegram and other communities, or you can also write to investor relations at waterfall.network to get this information.

When is the main net? We expect the main net to happen in June. There are already multiple partners involved, and this is our internal plan.

Is it an incentivized test net? No, the test net is not incentivized. You can test and prepare for how you will be using the main net; this is the purpose. If you have any suggestions about improvements or feedback, please report them, and we will address them for the main net.

Is the ambassador position still open? Yes, the ambassador position is still open. There is information on how you can get in touch regarding this matter, or you can simply reach out through our social media channels.

What is your prediction about Water? If you are asking about the Water coin on Waterfall, we are not giving any predictions about its value, including any increase in value or any value at all. The token will have a governance function in the network, and please consider it only for internal purposes.

Are there any updates about the stock price? I addressed this in the previous discussion. Any announcements made are not by the technical team.

When will the pre-sale be? I believe I already addressed this question. You can get in touch with our colleagues to receive the information.

In this AMA, we have addressed five out of nine questions regarding the tokens and the way to receive them. This is not the first AMA like this; we will soon ask the management team to conduct another AMA where these questions could be addressed.

Thank you so much for being with us. I will quickly check the chat for any follow-up questions. I don’t see any questions, so thank you for being with us, and we look forward to seeing you more in two weeks. Goodbye!