Welcome to Inside EOSIO, a collection of interviews with some of the most well known and respected personalities working within the EOSIO ecosystem.
Dallas thank you for your time today, let’s get straight to it, how did you came across crypto, and when did you realise it’s importance?
I first learned about Bitcoin & Ethereum in 2014. Initially I was intrigued and quickly became a holder. Like most, I became obsessed as I took in more information.
How did you come across EOS and what made you decide to build Karma on the EOS mainnet?
I was an early user on Bitshares and Steemit. I learned about Dan Larimer and began to dive deep on all of his ideas that he put out into the world. I really resonated with the way he saw the world and began to learn about EOS. This gave me the spark to want to start my YouTube channel. I found that most people weren’t covering EOS/EOSIO fairly and I wanted to explain how I saw the space evolving. The two main factors for building KARMA on EOS was the intelligence of the community and what EOSIO enabled us to do. KARMA needed free transactions for the end user to have a great user experience. At the time, EOS was the only chain in the world that made sense for KARMA.
Karma recently decided to migrate from the EOS mainnet to WAX, what was behind this decision, and why did you choose WAX over other EOSIO chains?
Two primary factors led to the community making this decision to move KARMA to WAX. Account creation on EOS and the current cost of CPU. From the beginning KARMA has had clear goals to remove friction and create an app that was extremely easy for normal people to sign up and use. Providing free accounts and resources was essential to accomplish this. With account creation up near $1 it’s made it difficult for us to be able to do any large scale marketing to bring in non-crypto users.
The primary goal is to have millions of people using an app they enjoy, interacting with their secure, EOSIO based account so they have control over their own value. Success on this goal is a tide that raises all boats.
In this moment, people view WAX as a totally seperate thing from EOS (mainnet) and it is to an extent. Looking where things are going for EOSIO, we think this will continue to be less of a factor over time with IBC coming.
– Quality/Active Block Producers
– Office Of Inspector General (to ensure quality Block Producers)
– Free Accounts (or extremely cheap/less than a penny)
– CPU/Bandwidth Cost
– Worker Proposal System
– Real world businesses coming to WAX with a high number of users
– Creating NFT (items) to acquire & swap within KARMA
Do you have any concerns regarding early holders of Karma being more supportive of EOS over WAX? And given the lower liquidity on WAX will this affect your market cap?
After several discussions with everyone working on the project and members of the KARMA community, we came to the conclusion that our growth would be limited on EOS (as of now) because of Account creation cost and CPU. The way KARMA wins and any social network for that matter, is to have a large & growing user base with a smooth & fun experience. Taking all factors into account, WAX makes the most sense for KARMA at this time. Network effects matter tremendously and being in a position where the KARMA “network” can’t grow organically would stunt the growth of the project.
How does karma make money to cover operating costs?
KARMA’s operated extremely lean and mean since the start. Currently KARMA is funded by those working on the project. There will be several revenue generating features & aspects to come in 2020.
Any future plans for Karma you’d like to share with us?
We’re extremely excited about some of the features coming soon. Things like an all new UI, text posts, sharing posts and even games utilizing the KARMA token are coming in 2020.
Thank again for your time Dallas, and all the best for the future of Karma on WAX!
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