Highlights from the AMA, Priyeshu talking about V2. Priyeshu Garg:.

22 Dec 2022, 13:24

Highlights from the AMA, Priyeshu talking about V2... Priyeshu Garg: So first let's start with some background : Router is a cross-chain interoperability protocol which connects information/messages/assets between different blockchains in a decentralized way. However - currently Router Protocol has just 3 validators and they are internally run and have no economic incentives to stay honest. We replace the current validation mechanism by a new Tendermint-based Cosmos chain -- which is Router Chain and that will introduce PoS staking, allow anyone to become a validator, people will be able to deploy DApps on this Chain which will be able to talk to other chains. Think of it as a new L1 which can talk to all other chains and have it's own contracts as well. <Advantages of V2 over V1> Router Chain target is 50+ validators. No staking for security in V1 , PoS staking in V2 High cross-chain fees in V1, Low fees in V2 Can't Deploy native contracts on Router V1, Can do on Router Chain Less security in V1, Highly secure in Rotuer Chain <On challenges> The biggest challenge for us at this point is to bootstrap the whole L1 ecosystem -- something which evern protocols with large treasuries of 100m+ have not been able to do. We will overcome it by our grit, hard-work, and leveraging where we come from :- India. Our strategy is to lead Indian developers into cross-chain and then let the world follow. <On competition> We are not afriad of acknolwedging our competition. And some of the brightest teams in the industry are our competition so it's a testatement to fact we are solving right problem. Some of our major competitors are : LayerZero, Axelar, Hyperlane, and Wormhole. <On VCs (polygon and coinbase ventures> Both of them have been helping us with introductions and integrations beyond funding. Not to mention the brand name to carry is also very powerful and opens a lot more doors for us when we go knocking. So they definitely add a lot of value beyond capital - for example hiring help, mentorship, etc. <What is the USP> Our USP is middle-chain. We allow contracts to be deployed on the bridge. Think of it as an intelligent middleware bridge where you can handle/store/edit information as it's being bridged. Most of our competitors are also focussed on transfers -- you can use them to send information or assets from one chain to another but with Router you can send information to bridge and then do operations on it and then send it to destination. The powerful middleware opens a lot of new doors. We are primarily a B2B project and we are currently doing partnerships with various industry unicorns. Once those partnerships turn into reality we should be easily be able to do millions of transactions. For example one exchange we are integrating with has over 10 M users on their app.