AMA Recap (3)Opportunities for Chinese developers in the Move ecosystemPublished at August 12, 2022 By Starcoin.
What are the opportunities for Chinese developers in the Move ecosystem?
As you may know from media reports, a promising trend in blockchain infrastructure, represented by Move, has recently emerged. But isn’t this track already crowded? From the point of view of Move developers, it is still in the early stages of the ecosystem, far from crowded.
From a promotional perspective, the industry has seen an influx of capital-driven Move programmers who claim to have completed some essential areas. Still, when we go to their project websites or GitHub to see, there is nothing complete. In the Web3 field, it is a common phenomenon to start promoting and building momentum before the ecosystem goes live. Many projects have only an idea in this field early on or have a white paper saying that the project has been set up while building and communicating with the community and then slowly improving their stuff.
Therefore, for developers who are concerned about the Web3 field, if you are interested in it and want to do some entrepreneurship or have some exciting ideas, I think it is very Web3 practice to start acting at this time when there is an idea.
There are usually two ways to start a business in the Move tracking. One way is to transplant the applications of the mature ecosystem into the Move field. The other direction I agree with more than anything else because Move has many unique advantages over the existing blockchain infrastructure. It is not as simple as changing the syntax compared to Solidity. So, in the long run, we would prefer developers to show these advantages of the Move to create some features that may not be so easy to implement in Ethereum or other platforms.
In the early stages of the Move ecosystem, some good ideas need to take a step forward and create a project description or a posting in the community, which is quite significant.
To add to that, Startrek has been running for a while, with mentors and graduates and Chinese community documentation and groups, and China has a numerical advantage.
Q: If a Web3 project in another ecosystem wants to use the Starcoin platform, what is the recommendation, and do you need to transfer the original assets to Starcoin by cross-chain?
There are a couple of ways to do this. If we don’t want to actually cross-chain, one idea is that we could deploy a smart contract on the source chain, lock the assets on the source chain, and then simultaneously mint tokens representing voting power that are not freely circulating on Starcoin (the target chain), and then take advantage of some of the unique features on Starcoin (like the DAOSpace being developed). However, this is not a very general approach and there are some technical limitations.
We can have the same asset issued in the same name in Starcoin and Ethereum, two chains balance the pool size of this asset, no exchange involved, and let both chains operate oracle synchronized blockheads at the same time through a contract, a feature we will try to implement in the fourth quarter.
Listener: Chinese developers with a large percentage of interest, thanks to Starcoin Move cookbook tutorials, also called on the community to add information and more questions.
Q: Is the relationship between Starcoin, Aptos, and Sui a win-win or a competition?
Recently we have discussed this issue in different channels; the current Move ecosystem is more of a complementary relationship; as you can see from the introduction of Aptos and Sui, they have different positioning. Starcoin’s vision has always been to achieve blockchain scaling through layering, and we have recently been developing some technologies for Move Layer 2. Both Web3 and the Move ecosystem are still in their early days. We all share the common ground to promote the superior technology of Move to more application scenarios and popularize Web3 to users.
The current state of development of blockchain and Web3 is that all projects are not too competitive because most users are still stuck in Web2, we need to attract users, and there is a scaling problem when there are more users, and we are solving this.
Every project will start to attract users; users bring community, and society determines the final temperament of your project, but because the initial users are different, the character of the final project produces a considerable difference. There can be many tracks in the Move track, so we run in different segments rather than a solid competitive relationship.
The recent rise in popularity of Move has given our Starcoin community a significant boost in attention, but with less than 1 million users said to have direct access to DeFi apps, Web3 is still in its early stages of development and competition in the Move track is far from feverish.
Q: I noticed that Starswap doesn’t have enough STC/USDT depth yet, like in the early days of the ecosystem; what are its following opportunities for new users?
The farm doesn’t show the full depth; only a portion of the liquidity is shown in the STC/USDT pair farm. For new users, Starswap liquidity mining returns are pretty good; the general DeFi project high return cycle may last two or three weeks, while Starswap farm returns have been maintained at a relatively high percentage since the project started a few months ago, which reflects the competitiveness of the project and the ecosystem.
Starcoin program has a maximum and solid technical advantage, and awareness in the Move ecosystem needs to be strengthened; we will try our best to promote communication between the English and Chinese communities.
The Chinese community is relatively rich in Move development documentation. We have written the cookbook for more than half a year; V2EX webmaster Livid proposed to release the cookbook within a month so that our cookbook can become a Move and even web3 bible.
Chinese developers are used to doing things on their feet and are not good at promotion; this way of playing may take the disadvantage in the next Web3 industry.
The Move is a new track, and everyone is standing on the same starting line, an opportunity for Chinese developers.
Starcoin is also helping to improve the documentation system in the Move field, so we will gradually open up our internal meetings and materials and the progress of our projects.
You can apply for Starcoin Grant to get development funds to support early-stage staff salaries.
We are looking forward to more excellent developers joining the building of the ecosystem, now is a good time window to seize the move ecosystem.
All about the Twitter space AMA recap on July 30th has been tweeted, thank you for staying tuned！