Hydro & CoinEx AMA Recap
This friday, we had an awesome night with Hydro. From all the genuine questions we’ve collected, we’ll take them into consideration. We hate to do this everytime, choices are always hard to make. Here are questions we’ve chosen, can’t wait to share with all of you.(some questions may be edited slightly for grammar and readability.)
Let’s do this!
Question 1: @digitalhitchhiker on Telegram
How large is the Hydro team and how quickly are you growing? Or hope to grow over the next year?
A: Here’s our full team at Hydrogen: https://www.hydrogenplatform.com/about — we all work to enhance Hydro in some way or the other for the most part; Here’s the team mainly focused on blockchain: https://www.hydrogenplatform.com/hydro — we’re generally scaling back most of our hiring at this point except for a few senior roles and a few engineers, but will continue to hire as needed.
Question 2: @Syntaxx7 on Telegram
Hello hydro devs. Aside from your roadmap/planned projects/product, do you have an additional product in mind to add, when all are successfully release?
A: Once we’ve released all these products, we’ll mostly be focused on improving/enhancing them — at this point we’re envisioning the capability for all sorts of contributions from devs within the ecosystem — our DA program is aimed toward bringing and nurturing more devs. So no specific products; rather aiming to enhance the products and make them more accessible while supporting global devs building other products.
Question 3: @Subkarnas on Telegram
Hi guys, can you please tell me how Hydro 2fa can benefit exchanges like CoinEx? Also would there be an impact on trading when using Hydro 2fa compared to Google authenticator?
A: Our 2FA product, raindrop client, ensures that when you want to login to an exchange or approve a transaction, you can be sure sure that if you control your phone, your identity is secure. SMS (text message) 2FA is vulnerable to takeovers, something that hydro 2FA protects against. we’d love to see coinex integrate our solution into their platform to increase security for their users!
Question 4: @SheriUcar on Telegram
How is Hydro different to other coins? what is it’s purpose and main function?
A: The main thing that I think differentiates Hydro from other coins is our attempts to work with both decentralized and centralized companies/applications. We acknowledge that not every organization is ready to just completely decentralize their infrastructure, but they may want to use some decentralized products. With Hydro that is possible.
As far as the main purpose, we are building code that allows for finance companies to eventually move to a decentralized infrastructure. We are doing things such as security, decentralized ID, document signing, payments and AI. Everything is modular and allows for people to use what parts of the platform they feel are best for their needs.
Question 5: @rhythm_doctor on Telegram
Will CoinEX be implementing the HYDRO raindrop app for its users?
A: I hope so! It’s great to see that they have some system of 2FA in place already, but we’d be happy to help them implement client raindrop to prevent the known vulnerabilities of SMS-based 2FA.
Question 6: @TechMashido on Telegram
How hydro’s identity related product is different from Civic?
A: Civic is mostly focusing on digital identity that people can actively use and while we’re more focused on building a protocol that people can manage multiple identities which contain arbitrary data about them.
Question 7: @NatzuPlay on Telegram
What is the difference between the civic and the hydro snowflake? Since both of them is on identity.
Is the snowflake identity be still secured by the 2fa hydro since hydro is decentralized project?
A: Snowflake is more of an identity protocol than an identity itself. It allows a user to tie together various forms of identity data.
Question 8: @onay7 on Telegram
Hey hydro team. how do you manage such big jobs with so few people?
A: We have an awesome core team and an awesome community! We also have focused on product development and we have nearly 10 years of experience and relationships in fintech. We built one of the first fintech apps in the US, from scratch. So we know how all of the plumbing works.
Question 9: @tuando93 on Telegram
Can you let us know about the advantage of Hydro Authentication than Google Authentication?
A: The biggest difference between hydro 2FA and google authenticator is that google 2FA relies on shared secrets, whereas hydro 2FA does not. Both the user and the website have information that, If leaked, could compromise user accounts. with client raindrop, the only place where secrets are stored is in users’ app, meaning that if you own your phone, your account is safe.
Question 10: @Kitey on Telegram
Mike, you are often seen on telegram answering questions late in the day and then back again early in the morning. Do you not need sleep or are you actually an advanced AI developed by Matthew?
A: I don’t consider this “work” or a “job” I am blessed to be doing what I do, so I can do it all the time.
Question 11: @Eternal1k on Telegram
What exactly is the reasoning that you are keeping Hedgeable separate from Hydrogen? Couldn’t they both benefit one another and complement each others strengths?
A: They are two separate companies legally, so we are just trying to keep them separate.
Question 12: @cocototty on Telegram
When you burn some of hydro?
A: We’re aiming on moving the bulk of Hydro out of our hands and to the community as the community grows over the next year or two; if some of this requires burning, it’s not off the table. Just whatever we need to do to meet our decentralization goals in a way that fosters growth of developers within the ecosystem while holding us accountable to our decentralization plan.
There you go. All chosen questions from this week’s AMA with Hydro. There are so many awesome questions we didn’t cover, all participants will be appreciated!
See you next round, stay tuned! 😎