Fortune Teller Podcast

Today’s guest on Fortune Teller is Robert Materazzi, CEO of Lukka.

Lukka provides data and software solutions to handle crypto assets on infrastructure built for the future of commerce.

Firms like State Street, Polychain, and eToro are among the customers that leverage Lukka’s Enterprise Software and Data to streamline crypto asset data, support NAV reporting monthly for over 50 crypto hedge funds across the globe.

Lukka is the leading crypto asset and crypto asset data management firm to simplify middle and back-office operations. Lukka’s infrastructure is AICPA SOC 1 Type II and SOC 2 Type II compliant, providing customers with a comprehensive, secure, and scalable framework.

Lukka provides institutional-quality crypto asset data with comprehensive coverage, accuracy, and completeness. Lukka provides organizations with Lukka Pricing and Reference Data, Market Data Feeds, Asset Classification, or Custom Solutions.

For tax and business reporting, Lukka offers tailored business data reporting powered by Lukka’s robust processing and reporting engine.

Lukka can also create custom solutions, with leading crypto data experts to help provide a custom-tailored solution for your business needs.

The Problem

When Trident Trust, a global leader in the fund administration space, first entered crypto in 2017, they had to acquire clients’ crypto transactional data via methods that were cumbersome and unsustainable (i.e., manual input, files, screenshots, etc.). Trident used spreadsheets to apply price and derive the trading activity value. Trident to manually transform the data into a format that was easy to understand by traditional fund accounting systems.

The Solution

In 2018 Trident became Lukka’s first fund administration customer. Lukka provided Trident with support for fund data collection, account balance calculations, and valuation for crypto-fiat spot trades. The Lukka Enterprise Software assisted Trident with data transformation and delivered standardized reports in a format that is directly loaded into Trident’s accounting system.

Lukka now helps Trident support crypto spot transactions, derivative transactions such as options/futures/swaps, lending, and staking activity, as well as transactions occurring on many Ethereum-based DeFi protocols.

The Results

Automated transaction data input and account balance reconciliation for over 50 crypto hedge funds.

The delivery of pricing and valuation data for more than 700 crypto assets used to support monthly NAV calculations.

Automated reporting processes for each fund client that is formatted for direct upload into Trident’s primary accounting system without any manual intervention or data.

Lukka also offers LukkaTax for Professionals for your practice’s needs. Our cloud software supports single-practitioner firms, up to firms with hundreds of individual CPAs and tax practitioners.

Company Website:https://lukka.tech

Social Media:

Instagram: https://www.instagram.com/lukka_inc/

Twitter: https://twitter.com/Lukka

YouTube: https://www.youtube.com/channel/UCWCGDbplXyKZh3IoA6B1xVw

LinkedIn: https://www.linkedin.com/company/lukka-inc

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today’s guest on Fortune Teller is Jacobo Toll-Messia, CEO of Nahmii. Nahmii is an Ethereum interoperable layer 2 scaling solution. Nahmii offers instant finality, predictable fees, and as well as commercial readiness. Nahmii believes Ethereum will be the foundation for Web3. However, while Ethereum does have many strengths, it does have some major challenges. These include:

Low throughput

High, unpredictable fees

Latency

Delayed finality

In order to address these challenges, Nahmii will implement Ethereum’s security under a high-speed, low-cost execution layer.

Nahmii scales any decentralized application to a global level. Nahmii makes DeFi projects, fintech solutions, industrial IoT integrations, supply chain management, oracle solutions, NFT platforms, and more production-ready. Rate of traditional databases, more than any other existing layer 2 solution, via the use of horizontal scaling.

By using state pool technology, Nahmii eliminates the time between providing a transaction and network’s first confirmation. In removing the need to commit to a base layer for finality, Nahmii’s state-channel architecture allows for instant finality. Fees are always known before the transaction. It is well-known that fees on Ethereum discourages both users and developers. Nahmii’s low transaction fees allow users and developers to explore dApps, without prohibitive costs.

Nahmii’s greatest creation is a technological breakthrough called “state pools.” State pools bring the instant finality of state channels, along with the pooled security of side chains and rollups. In combining both of these, Nahmii has instant transactions that are also secure.

Nahmii 2.0 uses generalized smart contracts on the network, opening up the opportunities for almost infinite dApp innovation. Nahmii offers security from bad actors at all levels, securing transactions and user funds from beginning to end on Ethereum. In order to be certain that users can properly challenge fraud, Nahmii had to solve the “data availability problem.” To do so, we created a decentralized oracle in where the smart contract can verify that data is available. Nahmii permits developers to create their application layer on top of Ethereum, using familiar tools.

The Nahmii virtual machine makes the work done by others, enabling compatibility with Ethereum smart contracts. For developers that have worked with Ethereum, they can use what they already know to start building. For new developers, learning resources are plentiful. Nahmii provides for users to earn yield, while at the same time, strengthening Nahmii, and in enabling the next generation of the Web. Two projects using Nahmii are NiiFi, a decentralized crypto exchange, and Fjord Maritime, a technical supplier to the aquaculture market.

To learn more about Jacobo Toll-Messia, visit:

Company Website: https://www.nahmii.io/

Discord: https://discord.com/invite/GKTsUTH

Twitter: https://twitter.com/nahmii_io

GitHub: https://github.com/hubiinetwork

Telegram: https://t.me/nahmii

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on Fortune Teller Podcast we are talking with Sergey Gorbunov, Co-Founder of Axelar Network. The Axelar Network brings Decentralized Interoperability to Ethereum, Cosmos Avalanche, Terra, Moonbeam and others, by unlocking cross-chain communications. Blockchain platform builders can plug-in their blockchain ecosystem to all other blockchain ecosystems.

Dapp builders can host their dapps anywhere, as well as lock, unlock, and transfer assets, and speak with dapps on other chains via Axelar API.

Users are able to interact with all applications across each blockchain’s ecosystem right from their wallet.

Axelar is empowered by a decentralized and open network of validators. Any user can join, use it, and partake in the Axelar protocol. Byzantine consensus, cryptography, and incentives are used to ensure high-safety and liveness needs for cross-chain requests.

The network is a universal platform to connects all blockchains via a decentralized network and an SDK of protocols and APIs. With the network and SDK, developers can effectively make new connections and implement their dapps with all blockchain ecosystems. This creates greater access to users, assets, liquidity, and many other applications.

Axelar differs from similar projects in that current projects work on interoperability within their own ecosystems. They generally lack methods to connect external blockchains based off of different consensus rules and software stacks. The need to provide interoperability in the wider crypto ecosystem has been met with unproven centralized point-to-point bridging options created in the market.

Axelar gives a complete solution to cross-chain interactions that is made to be interoperable with any chain. This allows for plug-and-play connectivity with little work to integrate new chains, and is made to be decentralized. Axelar features cross-chain routing and application-level transfer protocols.

This lets builders access all interconnected chains via the Axelar network. This results in allowing developers to build on the best platforms that suit their needs and use global liquidity and composability. Due to being decentralized, it is open for anyone to participate in.

Being universal in connecting, it is possible to scale across arbitrary Layer 1, Layer 2, Proof of Work (PoW) or Proof of Stake (PoS) chains. Retail users will be able to take advantage of cross-chain asset transfer workflows directly within the apps that they already use.

The Axelar Network has already been audited by NCC, Cure53, and Oak Security. Axelar continues to perform audits of other components and functionalities, stress-testing, and pen-testing of its network throughout development. In January 2022, the Public Mainnet roll out begins, after initial interrogations with Bitcoin, Ethereum, and the support of arbitrary EVM chains have happened.

To learn more about Sergey Gorbunov, visit:

Company Website: https://axelar.network

Instagram: https://www.instagram.com/axelarcore

Twitter: https://twitter.com/axelarcore

YouTube: https://www.youtube.com/channel/UCf8GFg58fdp1iZwLAOV1Tgg

LinkedIn: https://www.linkedin.com/company/axelarnetwork/

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on the Fortune Teller Podcast, we are talking with Rafaella Baraldo, Co-Founder of Pods Finance. Pods Finance provides users the opportunity to hedge their BTC, ETH, and other cryptos to protect portfolios from volatility.

Pods Finance is a simple way to hedge crypto assets on the Ethereum Network. The Pods Protocol is a decentralized non-custodial Options Protocol, allowing for traders to buy, sell and provide liquidity using our new Options AMM. Buyers begin by choosing a put option. The buyer can then take action during the 24-hour exercise window. During this time, the buyer exercises their right to sell, or the option expires.

Sellers locks stable assets as collateral. They then mint the equivalent put options. Sellers can then sell options for a premium, priced by the AMM. As with buyers, there is a 24-hour exercise window. Sellers may withdraw collateral if the exercise window has passed, or get the underlying asset if the option is exercised.

Pods' design uses DeFi's composability and makes it simple for other DeFi projects to implement the Pods Protocol. Pods are made for DeFi options, by unlocking a unique experience of earning while using the liquidity provision feature in an options pool. There are many special ways to interact with the protocol. Users can sell, buy, provide liquidity for both puts and calls, and determine which suits their needs.

Pods are incorporated in a grouping of non-upgradable smart contracts on EVM (Ethereum Virtual Machine) compatible blockchains. Binance Smart Chain or the Polygon Network are examples of EVMs.

Traders hold portfolios of volatile assets, cryptos, and need to hedge their risk to assure that they can keep their funds even in worst case scenarios. Using options orders in decentralized order books is costly, and the existing options are not liquid enough to cope with the gas cost on Ethereum.

Having options tokens as liquidity in Uniswap may equate to severe impermanent loss as it can only show the price based on a small number of inputs. Additionally, users may be unable to find reasonable market prices for buying or selling options in Uniswap.

Pods Protocol’s Options Instrument and Options AMM addresses these problems uniquely. The Options Protocol implementation needs the options to be fully collateralized, allowing options sellers and liquidity providers hedges at all times. Pods implementation uses an external price oracle to update the spot price of the underlying cryptos, along with an internal oracle to support the Weighted Average Implied Volatility.

The AMM pools are made and end within the option's lifetime, which is 24-hours. After an option enters the exercise window, trading stops, and users can only remove funds from the pool and exercise the options, as applies.

To learn more about Rafaella Baraldo, visit:

Company Website: https://www.pods.finance/

Instagram: https://www.instagram.com/podsfinance/

Twitter: https://twitter.com/podsfinance

YouTube: https://www.youtube.com/c/PodsFinance/featured

LinkedIn: https://www.linkedin.com/company/pods-finance/

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on the Fortune Teller Podcast, we are talking with Corey Petty, Chief Security Officer of Status.

Status is a protected messaging app, crypto wallet, and Web3 browser created with top of the line technology. All of this is incorporated into a strong app for private and protected communications.

The status app incorporates an open-source, peer-to-peer protocol, as well as end-to-end encryption to secure your messages from third parties. The users control their messages, and can send 1:1 private chats, private group chats, and join or create public channels to connect with their communities.

Seamlessly incorporated with the crypto wallet, Status lets anyone, anywhere, send global payments directly in a chat. Users even have the options to send expressive stickers without a middle man. In addition, users can create their own packs and earn SNT in the decentralized sticker marketplace.

Some of the benefits of using Status include:

No phone number, email address, or bank account required when creating your free Status Account.

Removal of centralized choke points protects your messages from censoring third parties.

Status is both free (libre) open source software that can be reviewed by anyone, and free (no cost) to install.

By using a peer-to-peer network, not centralized servers for the exchanging of messages, communications are yours and yours alone.

Status offers increased privacy with end-to-end encryption (e2ee) on all users private messages automatically. Only the user and their intended recipient can view the messages – not even Status.

Status implements an adapted version of the double ratchet algorithm for perfect forward secrecy. Protect your past and future messages even in the event of your current encryption keys becoming compromised.

Status implements Waku to give privacy-preserving routing and messaging on top of devP2P. Waku uses topics to structure users messages, and these are rendered for all chat capabilities. As anyone can receive Waku envelopes, it relies on the capability to decrypt messages to determine the correct recipient. This is in order to provide routing, metadata protection, topic-based multicasting and basic encryption properties to support asynchronous chat.

Other popular messaging apps--including Signal and Telegram—have clients talk to servers which are generally trusted, available and aware of how to route messages to other clients. Status messenger, however, uses decentralized P2P networks which don’t have servers and clients. Decentralized P2P messaging aims to remove centralized intermediaries, removing of single points of failure and increased resistance to censorship. Messages hop across multiple peers and proceed to hop even after reaching their recipient because peers do not know who the intended recipient is.

To learn more about Corey Petty visit:

Company Website: https://status.im/

Facebook: https://www.facebook.com/ethstatus

Twitter: https://twitter.com/ethstatus

YouTube: https://www.youtube.com/statusim

LinkedIn: https://www.linkedin.com/company/status.im/

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today’s guest on Fortune Teller is Pat Doyle of Genesis Volatility and Pink Swan Trading (DeGen Data). GVol allows for one to manage risks, identify opportunities, analyze and trade activity, providing institutional grade crypto options analytics.

To manage risks, use Gvol calculators to assist in estimating probabilities, Black-Scholes pricing, and various implied volatility outputs. In order to identify opportunities, GVol tools help you find pricing fluctuations along with high probability trades in the crypto options market. The nature of the crypto options market causes pricing inefficiencies and positive expected value trades.

For analyzing trade activity, GVol tools lets you monitor trade flow and changes in open interest. This detailed analysis helps you understand what whales and other large volume traders are doing with the crypto options market, providing insight into hidden trading opportunities.

GVol provides its users with Live Stats in the crypto options market. These live stats include data to help in making trades, and include:

Implied volatility pricing from various venues

Volume, open interest and deep liquidity profiles

And times and sales data

In addition, GVol provides crypto options traders with Historical Data:

Investigate trade and quote data,

Compare the current implied volatility environment versus historical volatility,

Explore trends in open interest and put/call ratios, and

Investigate block-trades using our “Block-Sniffer”

Furthermore, GVol can also provide you with tools on DeFi related trades:

Compare CeFi versus DeFi trade data,

Find edge and alpha in the nascent DeFi option markets,

As well as to analyze on-chain liquidity and volume data

Lastly, GVol offers an Application Programming Interface (API) for those parties that are interested:

Our API solution is currently live in market, $899/mo

Desk fee includes pro subscriptions firm wide

Please Contact [email protected] for more information on GVol’s Application Programming Interface (API).

DeGen Data works in the NFT market by providing traders, collectors, and enthusiasts with the proper tools for their efforts.

To have a better insight into the NFT market, one needs to know the “floor,” the lowest priced item in a collection. Next, you need to know the Unique number of Holders. Following that, Wallet Activity is important. These metrics can help, and are all meant to be used together. Each project has unique ways to drive value.

DeGen, via FLEX, highlights the fact that the ownership of art should be respected. How, where and when it is displayed should be up to the owner. The FLEX protocol, V1.0, includes support for broader use cases. Like ways for NFT owners to capture the value their NFT generates.

To learn more, visit:

https://gvol.io/

https://pinkswantrading.com

https://www.genesisvolatility.io/

https://degendata.io/

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on the Fortune Teller podcast, we are talking with Mason Burkhalter, Head of Operations at API3. API3 allows for the creation of trustless applications that interact with Web APIs. Instead of using legacy third-party oracle networks, API3 is moving towards first-party oracle options to provide more security, efficiency, regulatory compliance, and simplicity.

The API3 data feeds are governed by an open DAO of stakeholders, industry experts and project partners. This lets dAPIs to be operated with maximal transparency, minimal trust in centralized operators, and without centralized attack surfaces. API token holders take a direct part in governing the project by staking API3 tokens into the API3 insurance staking contract, granting voting power in the API3 DAO.

Third party oracles are both insecure and expensive. API3 data feeds are not exposed to data tampering and denial of service attacks by middlemen, as API3 does not have third-party node operators. Thus, API3 data feeds reach higher cost-efficiency, with fewer attack surfaces. Source-level decentralization of dAPIs is enabled by Airnode, a fully serverless oracle node to be deployed by any API provider for free, and with little day-to-day management.

API3 provides dAPI users with an on-chain insurance, powered by the API3 token and Kleros’ decentralized courts. API3’s insurance gives dAPI users a quantifiable safety net in the event of a malfunction, and holds the API3 DAO directly responsible for the dAPIs’ security, while it incentivizes a security-first governance approach for dAPIs, along with the API3 project as a whole.

Furthermore, dAPIs can be bridged to any blockchain, being a multi-layer, cross-platform data solution. This allows for smart contracts on various platforms with more accurate access to premium real-world data. This multi-layer, cross-platform approach lets any smart contract platform leverage API3’s ecosystem of dAPIs and data-integration tools by creating a bridge between API3 and the network.

API3 allows for API providers to easily run their own oracle nodes. With this, API providers can provide their data on-chain, without an intermediary, to any decentralized app (dApp) interested in their services. Using a single first-party oracle creates centralization at the API level, and requires the API provider to be trusted.

An oracle network makes the request to multiple independent oracles, reducing their responses to a single answer via predetermined consensus rules implemented as a smart contract. With these, individual malicious oracles cannot manipulate the outcome, creating a level of decentralization and trustlessness. In addition, the oracle network must be governed decentrally as well. Otherwise, a central entity can switch the oracles or APIs used, or replace the aggregator to manipulate the oracle network output.

To learn more about API3, visit:

https://api3.org/

https://www.linkedin.com/company/api3/

https://www.youtube.com/c/API3DAO/featured

https://twitter.com/API3DAO

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today’s guest on The Fortune Teller podcast is Leo Matchett, Co-Founder and CEO of Decentralized Pictures (DCP). Decentralized Pictures is a 501c(3) nonprofit organization with the idea that artistic talent may be discovered innovatively. Through user consensus, Decentralized Pictures has set up a democratic film fund, an online community of creatives, film-fans, and industry professionals who choose who is most deserving of our support. One can submit their idea, and if the community agrees, we will help you make it. We will help finance it, and introduce you to the people who will help you execute it professionally. Decentralized Pictures discovers great talent and curates content.

DCP will offer awards to winners in the user community. Competitions with various levels of financing awards will initially be offered for proposed documentaries with social impact.

Users will review and rate those proposals, providing opinions to help determine the winner(s) of each award. Further, finalists and winners will be matched with DCP’s network of industry partners that will assist these aspiring filmmakers in realizing their films and launching their careers. An open-door policy and the chance for anyone to prove themselves on talent, vision, and sweat alone is what DCP is all about.

Through our platform currency, FILMCredits, and powered by incentive mechanisms, our ecosystem enables decentralized participation, crowdsourced curation and, eventually, autonomous financing. As such, it creates an alternative to the traditional system that defines the film industry today. We feel that giving access to those who deserve it, will inspire and empower a new generation of artists.

Due to various regulatory bodies, every user undergoes Know Your Customer (KYC). This allows you to be sure that every community member is a real person and that their vote is legitimate.

The aforementioned FILMCredits are fuel for the platform. Users can stake them on their favorite projects, pay others to review their own submissions as a bounty, or simply purchase entry vouchers to pay for application fees for various creative financing rewards.

Submission fees help to incentivize our community to read, rate, and review your project! The submission fee will be divvied up amongst the reviewers based on accuracy, stake, reputation, and timing of the review.

Film revenues are divided into various pools. DCP acts as the financier, and all the net revenue recouped in this pool will go o the film fund for future financing rewards. As for the winner, depending on whether they are a producer of the film and contracts for a share of this pool, they may share in the producers’ pool.

For more about Decentralized Pictures, visit: https://decentralized.pictures

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on the Fortune Teller podcast we have a very special guest, Robbie Heeger, Co-Founder & CEO of Endaoment. Before we begin, we have a special announcement:

“Just yesterday, a group of teens announced they'd be working with Endaoment, the first fully on-chain 501(c)(3), to launch the first-ever DAO-based toy drive, elfDAO.

16-year-old Byeongjun Moon established elfDAO alongside teenage friends and advisors from ConstitutionDAO with the goal of raising $1 million before the end of December to support toy drives across the United States. Donors who contribute to elfDAO will receive a unique holiday NFT created by 15-year-old elfDAO member, Nicolas Gatien.

In addition to an NFT, donors will receive $GIFT governance tokens proportional to the size of their donation, allowing them to vote for which toy drives they’d like to see receive grants from elfDAO. Based on the community’s vote, the donations will be distributed to recipient organizations via Endaoment.”

The Endaoment’s Donor-Advised-Funds and Community Field-of-Interest Funds are powered entirely by smart contracts, facilitated on the Ethereum blockchain. Together with our easy-to-use donation and grant making application, we’re making a new kind of community foundation, with values and functionality aligned for the crypto industry.

We seek to include people from varied backgrounds, beliefs, and positions.

We create systems to encourage philanthropy and heightened involvement between grant recipients and donors.

We ask for and seek to realize the goals of those who are within and without our community.

We focus on transitioning donated dollars from donors to nonprofit organizations with a minimal of fees and overhead.

We learn from and with our partners to accomplish substantive results.

We leverage crypto-native ways to cooperate and compound our abilities to do good in the world as a whole.

Endaoment.Tech, our sister software development firm, focuses on making compliant protocols for on-chain institutions. Endaoment has built our application and on-chain contracts from the ground up with decentralized software, services, and design practices in mind. With the combined efforts of Endaoment and Endaoment.Tech, we are delivering a composable, compliant, and tax-efficient services to the people.

We make on-chain giving easy, by providing the option to use our application, or over the counter, for our community. Using Endaoment you can donate cryptocurrencies in their original token form, on-chain. This creates several benefits:

1) The granted amount is equal to the present market value of the donation (i.e., there is no tax on the sale).

2) The potential tax deduction is equal to the market value of the donation.

3) All actions occur on-chain and are publicly verifiable using a blockchain explorer like Etherscan.

For more information visit:

https://app.endaoment.org

https://facebook.com/endaomentdotorg

https://twitter.com/endaomentdotorg

https://linkedin.com/company/endaoment

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/

Today on the Fortune Teller Podcast, we have Anthony Georgiades Co-Founder of Pastel Network. The Pastel Network is a peer-to-peer decentralized platform to securely register, trade, and collect NFTs.

One of Pastel’s core features is the Negligible Fees. With the high gas costs on the Ethereum Blockchain, some have to spend $500 worth of ETH to make a single artwork NFT, which ends up excluding most digital artists in the world. The Pastel Network keeps the cost to register an artwork minimally below $.05, ensuring that transacting is affordable irrespective of network exhaustion or the underlying price of PSL. We ensure low fees in Pastel with a mechanism that automatically adjusts the required registration fees based on how much the mining difficulty has increased for PSL over time.

Users incorrectly believe that NFTs are minted and exist in a decentralized manner on the blockchain. However, NFTs are really only non-fungible to the extent they refer to the actual token, not ownership of the rare asset itself.

Storing an NFT’s metadata and assets on a centralized server or using IPFS for the maintenance of files makes any creator or owner vulnerable to the loss of assets if the centralized entity shut down or if the protocol links were to go dead.

Pastel ensures that the digital asset itself is uploaded, verified, and registered on the Pastel blockchain — rather than just the token with which it is minted. Via smart tickets on the Pastel ledger, one can store their masterpieces in a distributed fashion across Supernodes, as opposed to just ensuring the token is non-fungible.

The sophisticated storage layer, leveraging the RaptorQ fountain code algorithm, breaks an asset up in a series of redundant chunks. Each chunk has certain random fragments of the combined file and is distributed redundantly across participating Supernodes.

Pastel is user-friendly, with a PastelID, a system that ensures creators and collectors can share their PastelID key on their website or various social media account, as opposed to the confusing string identifiers associated with pub/priv key pairs. Every aspect of Pastel was carefully designed to account for intuitive user-flow and understanding.

Pastel uses the zk-SNARK system introduced by Zcash, allowing for provably secure “shielded” (private) transactions that can be validated by the network without disclosing the receiving address. PSL is the native cryptocurrency on the Pastel Network, allowing participants to securely register and store their assets on the Pastel Network. The data written inherits all the security properties of the Bitcoin-like cryptocurrency, providing a solid foundational layer.

For more, visit https://pastel.network/

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/