Mining Handshake and Blockchain Tech


(00:00) [Music] yeah so so i guess the the main thing that i would want everyone to pull from the immaculate conception to what handshake was and you know during this conference we’ve been talking a lot about um you know the the community aspects the the naming aspects uh and you know the the speculative market that is the handshake naming the economy and one of the important things that we need to remember is the uh the genesis of handshake and why things are going as smoothly as they are launching a public blockchain which is

(00:48) effectively a utility for all of mankind uh is a lot of work doing so correctly is an art and a science and launching one takes a village and a village that has launched handshake over the past year is before you and you will continue to meet them throughout the rest of today and there are some in particular that i know many in the community have not met but i’m really excited for you to meet their life and joining with me is ken xing who is the ceo of gold shell and effectively the mastermind behind those many asics that everyone has known

(01:28) and loved and then of course there is wang chung who is the founder of f2pool one of the largest funds uh shooting largest pools out of china um gentlemen you guys want to introduce yourselves you can get your skin if you’d like yeah hello steven hello one two nice to meet you guys and hello everyone i’m very honored to attend this conference and my name is ken i’m the founder of gold share yeah and wang chung can you give a quick intro to the audience please yeah nice to meet you and hello everyone uh i first heard about the handshake in

(02:15) april 2018 and almost three years ago uh you know pre-launch party but i didn’t know that this happened so soon so glad that we have long-term mainland for uh about one year already and seems the community going strong i’m really glad to see what’s going on yeah excellent thank you and so to give everyone just a little bit of background and more into this immaculate conception uh you know before a handshake was launched and block number one was mined uh you know there was a lot of work managerial wise

(02:54) that went into the creation of that proof of work and it took the amalgamated uh you know efforts of myself alex smith matthew zipkin mark tyneway christopher jeffrey sean kilgariff uh boymo fombula uh you know the list goes on and on and every person put a little bit of their soul into this opportunity to provide this check and balance and when i was at the purse office i believe in 2018ish i was hanging out with boyma and uh and andrew and everyone and me and boyle were having a conversation and they were talking about needing a mining client

(03:35) for handshake and he was like well you know we need someone familiar with opencl and he’s not here on this call right now because he’s actually busy right now but alex smith told me uh he was interested in working with me on something and he was my old mentor at a previous job and he told me one day i want to work with you on something and this was that opportunity and i reached out to him along with sean kilgariff who actually through the blessing of everything had reached out to me and said hey i don’t know what but i want to

(04:05) work with you on something and i said well great there’s this beautiful thing that’s about the launch called handshake and i could really use your and expertise and you know it was through those combined efforts uh of everyone collectively uh learning about you know the reserve route and any potential issues there that could you know provide the same vulnerabilities to handshake that are present in bitcoin um when it comes to the hashing algorithm and making it simple and making it a clean loop um that would

(04:33) allow it to be easy for miners to implement that was important too how it was keyed right and what those algorithms are were important because that allowed us to meld with the rest of these centralized work like see a point right because they also used blake to be there was so much nuance here especially down to the uh distribution and in the fact that miners in the offset were the minority in the distribution and they had to earn their rights to be majority holders from the initial launch and then there was a soft launch up to block 2016.

(05:05) it was very intelligent given 10 years of bitcoin’s history right and all the expertise and all the skills that we had learned here and there with people re-implementing bitcoin like jj who intimately probably understood bitcoin better than anyone on the planet and him sharing his light to everybody along with working with joseph and everyone else perfectly acted as translators to give this gift right and now we’re all here and the reason the handshake has grown so quickly is because it was built right and um

(05:43) intelligent people like ken xing himself and wang chung who if you know the history f2 pool is one of the very first supporters of namecoin so when chung is og as it gets from bitcoin all the way back and kenshin gold shell gold in mind that saw the need to protect the new internet this new substrate that humanity will operate on and we will communicate and we will decide the future before the narrative was always decided for us in history it was unfair but it was a means to scale us now humanity has reached a new form of

(06:22) enlightenment we have the internet and the first version of it wasn’t so good the second version of the internet was co-opted by twitter and facebook and people whom you know the third version of the internet is ours and it’s ours forever it is the eighth light it is the last fire and it is what will bring mankind forward into the stars once we master the governance that is the system of the heart and the mind and give everyone a name we will have the capability to do anything we want the new state is the global cooperation

(06:55) and the objective uh entanglement that is the chain operating transactions on this chain mining this chain buying names on this chain communicating effectively with everyone who observes the state of the blockchain and that is the beauty of cryptography mathematics distributed systems is we are now in all places at once and we are in consensus of it and no longer will people be able to control that monetary system that is now our efforts and the reason you feel this light in your heart and you feel you’re in a special place

(07:35) is because you are amongst very enlightened people everyone here in this room including everyone listening has a very important job going forward into the future there’s a reason why we know this technology is so important but so few of us are here right now it’s because the complexity and the light of this gift that has been provided to us is that important and once we all understand that light fully we can fully communicate it to the rest of the world and mining in and of itself is an action that puts your your trust your monetary

(08:08) future and your heart into the very technology itself and china is a very important part of this united states from a software perspective seoul perspective we may have written the code but it is china’s hard work and their mindset and their understanding of hardware and the scaling of that that helps secure the chain so collectively through the heart the body the mind the soul the spirit all of us together create this new humanity together um and that’s what i had to say for now ken or wang chung if you would like to

(08:45) say anything yeah stephen it’s a very nice speech i think and i’m very likely and uh for more information i want to say uh our company good share you know uh making humanized miners right now and we are a family semiconductor company located in shanghai there’s many talent engineers here and we are focusing on high performance computing and algorithm chip design that makes us can make a basic manner for pow crypto currency like h1ns and in fact we begin to study hr as handshake at the very beginning of 2020

(09:38) and uh we like her handshakes vision and we like it to go and it’s purpose so we decided to design the chip immediately early 2020 and um i think on july 2020 uh just five months just five months after the launch of uh midnight we shipped out we shipped out our first manner basic manner physical adjust manner to the customer and but also we believe would be leaving the importance of the centralization you know so we invest a lot of our design resource to develop a new type manner i assure you yeah this is hs

(10:34) one plus it’s it’s small and quiet and i think it’s price is affordable to people so we also provide the whole international dhl free shipping to the whole world and this product is successfully attracted a lot of people’s attention and i think most of them are beginners beginners to blockchain beginners to some of who them may not even have uh have a bitcoin but they have the first uh hqns car you know uh they threw this miner through this mini miner they knew about hmis and the mind they are first literally

(11:25) and as i know many of them also try to use the mind issues to beat their handshake name khan and i i believe it’s very healthy for hillary community and we are very proud to uh take this you know small manner to the to the world yeah uh in fact i checked our data ourselves data this mini miner has been shifted to about not exactly has been shipped to 63 different countries in the whole world 60 to 62 oh sorry 63 different country 63 and the total amount is about uh 400 sorry 4 000 4000 millimeter and i’m very glad

(12:25) to to know better data and it means the hls community has so many users from so many countries and this makes me very excited and to be i i’m very proud to be part of the hrs community and i think we can continue to try our best to our company’s best to contribute to the the community and the ecosystem yeah yeah fabulously said king and just so everyone knows from almost the first couple of days the handshakes launched you know we we launched handshake and we had a plan to secure the first few blocks myself alex smith and

(13:13) thomas costanzo and you’ve probably seen him in the community and you know we’re the miners of block number one through 44. and you know we did that and it took a lot took two years of hard work for a couple of seconds of opportunity to do that and it was important to us that once that chain was struck that it would remain safe and when we launched we actually had some pretty terrible mining equipment on the network from a company called six block it was poorly inefficient and if you understand mining like i’m sure

(13:46) wang chung and ken know you know that hardware is it was effectively crippling handshake from reaching its maximum efficiency and given the cost of it and the amount of security it actually provided so when ken reached out one of his workers uh at the time his name was uh michael liu uh he’s no he’s no longer a gold shell but he reached out to alex smith and was like hey you guys made handyminer which is you know the the gui implementation and the command line interface for handshakes mining for gpus so for

(14:16) amd and nvidia so you know they saw what we were buying there and michael was very impressed by and they’re like we want to work with you guys like whatever we need to do to earn your trust we want to be your friend so you know we talked day in and day out ken and myself and a few other individuals to really understand how do we get handshake hash rate into as many places as possible onto as many pools while safely scaling the network from gpus fpgas into a6 uh it is an art um and um ken’s team has been incredibly helpful with that

(14:48) distributing the house rate making sure miners are getting in the hands of the right people at the right time and uh you know with that handshake has proliferated rather well uh to the the space like when we launched we had hns pool which is now urkel pool but that was you know we were launching with handshakes for the first time right and we were taking advantage of the entrepreneur window but og’s like wing chun knew this stuff inside and out right they’re professional pool and service uh and that said like wing chun

(15:15) maybe you can give us make some insights into like maybe what’s exciting you about handshake right now given your your interest prior with name base yeah thank you thank you yeah so we were one of the first ones to uh might improve the support handshake and i could not i could not describe how excited i occurred to my heart about the long-term midnight apprenticeship about my years ago so now we have about 40 percent of total handshake high rate and together with a few other mining pools so i’ve seen like for a cryptocurrency

(15:55) like a similar size of handshake and i think the network decentralization is pretty uh okay and we’ve seen also seen like this uh steady and rapid growth in internal hatred on the handshake network so i think we’re very happy to to be in the hatchery community and will uh it’s our reasonability to uh keep the uh handshake network cq and uh with secure handshaker blockchain together with ken who are working on the hardware set and they will be focused on the software’s software set to serve the miners

(16:46) to keep the produce new plugs and also keep the handshake network uh going and makes liquid strong excellent perfect yeah so you know as as you can see you know we’ve got some pretty committed partners and which lends more to the legitimacy and the elegance of handshakes launch right where the right people in the right place divinely at the right time you know and now that we have these tools and we have this network live really the only thing left standing between us is you know ken wing chung and us here in the united states all and as

(17:23) the mining industry grows in the u.s and our job is to continue to distribute that hash rate and to continue to spread that you know that love and peace through handshake and you know as we do that you know we’re going to see an effective growth in you know the the market cap of the asset and effective growth and the naming economy and generalized interest across the internet the prior internet before it fully makes its way over to ours so we’re going to have a lot of attention and things are going to move

(17:50) very quickly this first year seemed like it moved pretty slow but some people moved very quickly uh to myself included but this next phase uh will be rather fast because wherein in bitcoin’s history there were no no economy to scale around around mining and exchanges this first few years handshake is not the same once the light pops on and people realize what it is that we have built it would be interesting uh and it’s gonna be important that we love and trust our brothers and sisters on the other side of the planet

(18:22) okay and it’s important that the zealotry and the um xenophobia that’s been present in some of the more maximalist power related communities needs to stop because the only way we continue to grow this thing is if we continue to grow and trust each other more through these trustless systems and by design what they provide us um but that being said you know you check out gold shell check out f2 pool if you’re if you’re interested in mining gold shell really does make it easy if you’re just a general consumer trying to

(18:57) understand things handy minor is an excellent means by which to get started on mining handshake with the click of a single button extracting that complexity way was also a very important part to me when launching handshake having known how difficult it was to get started mining bitcoin and all coins way back in the day in 2012 2013 i knew that for handshake to really proliferate we needed not the same hands that have centralized over the 10 years to get on handshake but we need those that are generally savvy but for the most

(19:25) part they don’t understand everything on a low level so we need to abstract abstract extract and that’s what handshake is good at abstracting uh and then now it is up to us to take this root anchor and abstract on top of that you know all these additional like substrates that will provide the means the new internet working with zeocoin working with file coin you can never have too much storage you know working with these other uh systems that provide all the provisional protocols that we need to fully build the internet stack of the

(19:52) new whip but handshake is the heart of it all in the heart of them and so that being said you know continue to beat your heart with us with every block and what might sign like sound like theology oddly it’s because god’s plan usually looks like serendipity um but that said thank you everybody for listening uh ken or wing chun if you have anything else to add here in the end please do um but otherwise you know we’re open well we do have um 10 minutes we don’t have to use the full time but um we have some q a from the

(20:29) audience which um i can just feel uh so a question for wayne chung what is the current state of the mining industry in handshake how secure and stable is the network and how can we help get it to a point of greater stability yeah other than just mining more i think compared to many other cryptocurrencies uh similar size handshakes mine is pretty stable and steady growth and the software also has a better quality and uh i think in the long run handshake has a pretty strong foundation back to uh to be uh for its long-term success for his

(21:14) long-term state you know mining success well um is there anyone who can um answer uh the what is the geographic distribution of handshake mining operations is there a sense of that it’s kind of how how distributed um across the globe like are you guys aware of like hot spots for uh where most of the mining fragmented might occur yeah i i was actually trying to check the data but so far i don’t have this data from our backend but in general like all the coins combined together uh we’ve still seen uh a little bit more than uh half of the

(22:06) heart rate which was coming from china and but the other countries are growing fast and we’ve seen that the hash rate ratio have been uh decreased from uh 80 percent to now it’s only a little bit more than half over the next previous uh two years so maybe i think can probably have more data it doesn’t mention like more than they ship the machine for more than 60 countries right and ken i think ken mentioned that he said that they have sold at least individually itself for the mini miners like over 4 000 of those units

(22:48) and that said too you know they had these larger miners right like the hs3 hs3 sc and the hs5 which are larger right and as of right now as handshake scales the prioritization for those miners is usually those with farms right because we want to we though the one they have the capital and two they have like you know the foundation and those plan assets that allow them to actually like uh put out the security at scale so right now as we were building out the foundation of the hatch right you saw an explosion you can look at a chart for

(23:18) the difficulty and see the explosive nature month over month of handshakes so as the as we enter a basically a power distribution right we saw of uh and now we’re seeing first we had one or two major minors then we moved into like now three it’s gonna be four and five and this this adds additional um premiums to the economy of scale for the mining uh uh industry because it means that it’s maturing and then there’s room for more players right so when someone like ken right makes the first set of basics

(23:48) they need to make a return on that investment party right um and once they have that return others can you know make um additional investments uh and to do similar and that is how you have this emerging economy of scale around uh production of hardware that’s specific to our algorithm and that’s why building an asic algorithm right is important because you’re going to create an entire industry on top of it and now that we have this maturation and folks like ken and now that the notoriety is there you

(24:19) should probably see the introduction of other hardware speculators um that are you know gonna seek to you know hedge and leverage the success of handshake um so it is a uh it is emergent it’s progressive and it doesn’t happen all at once but that’s decentralization okay um and if everyone all centralized all at once and provide all the hash rate that guess what that is that is collusion and so the fact that it is uh progressing at this pace is how you know it’s organic right this is important um but that means any other question

(24:54) yeah ken i think um just to wrap up the geographic distribution handshake mining operations i think just one like weak proxy we might use is ken if you have an idea of where the gold shell miners seem to be going um shipping out to do you have like a a general idea what that distribution looks like yeah uh i think the way we take a very careful about our international sales and we put a lot of resources to to make sure we many many of them many of who guys may check check our uh our online shop and they noticed the the manner is out of stock but

(25:46) i must say this is a global cheap shortage crisis and uh we can’t uh make a uh [Music] enough manner to meet her customers amounts because the whole supply chain is in a very very urgent situation right now but we we are trying about our best to to to to to produce more memory i hope in the near future and we already order more his one mini plus mini manner i hope we are we will restock it very soon and uh you know our international shipments show us that our manner ships to about a ship to over 60

(26:52) different countries in the world and many of customers many our return customers are from not from china from usa from germany from australia and i’m very excited to see so many friends from so many different countries and i think it’s a decentralized situation we don’t want to share all the manner to the the the bigger the uncertain bigger farmer or some personal uh we want to make it to distribute to more and more people yeah that’s our internship and our winning yeah well awesome guys um i’m personally like

(27:43) mining is totally out of my realm um but i can’t share that like ken wing chun i can’t tell you how excited the community were um for you guys to uh be able to make it and kind of share your thoughts and steve uh you can see in the chat like man uh it’s like a hype man dude you’re you’re getting everybody’s energy just up so thanks man i’m really happy to be a part of this community you know it’s been helpful growing things uh you know uh being autistic i never thought that i would be able to like

(28:15) find community but i think it was because the community that i was supposed to find all along i was supposed to help make so i’m glad to be here i’m i’m really happy to build with everybody we’re going to have a really good time and i’m very excited for you to hear from uh jj and andrew later uh they are very incredible people and when i was in bitcoin and what we have today is is through those efforts and those actions so it’s all about making friendships and reaching out a hand and providing

(28:43) light when others are dark so um you know thanks everybody for listening and i’ll see you in the chat well sounds good thanks guys [Music] you