 What's up, everyone? I'm Giovanni. Welcome back to another Coin Telegraph live stream show Today I have the pleasure to be joined by Ian Martins, CEO of Atoll Labs and Alex Nassimiento, a member of the blockchain faculty at the University of California and founder of SevenCC Blockchain Investment How are you doing guys today? Excellent. Pleasure to be talking to you again also with Professor Alex and all the audience Yeah, no, it's a pleasure. Thanks Giovanni for having us Great to be here and fantastic to chat with the with everyone around the world listening to us Yeah, that's a pleasure. So Just to introduce you guys so for those who don't know in a nutshell Hathor is an open source blockchain architecture on which users can create their own token and Basically today Hathor is launching a new initiative called called Atoll Green an initiative to encourage the usage of renewable energy practices for Bitcoin mining So before we start the conversation I would like to remind our audience that this is an interactive live stream show So please write your comments in the chat and I will ask our guests Especially considering that this is a very important topic because we we are talking a lot about this Bitcoin Renewable energy issue that Hathor is going to tackle and is explaining how today So let's get let's get into it Jan, maybe you would like to just go a little bit more in details about what Hathor Network is Sure, thank you Giovanni As I said, we are an easy to use blockchain that the moment it's pretty easy to issue your own token We are based on the PhD work of our CTO of Dr. Marcello he proposed back 2018 a new architecture for distributed ledger technologies Where there's a combination of a dag of transactions and the traditional blockchain So we do have blocks and we also do have mining It's very important for us. We also use proof of work as consensus Magnus the same as a Bitcoin Which is why we're here to talk about a bit about mining and green mining So yeah, I think in a nutshell, that's it Great. So now that people understand what After network is now we can go into the actual initiative that you are launching today, which is a Hathor green So, can you tell us a little bit about this initiative? How did you come up with it? And what is the goal of this initiative? Sure. Yeah, as much as I'd like to take credit for it. I cannot because this is an idea of one of our closest advisors rods, so he's very much into mining and with all this debate that's been going on with the energy use and the the origin of the energy used He proposed that so we incentivize the miners that use renewable energy because I mean, I think we can go a bit into the debate of Energy use in Bitcoin, but I think everyone can agree That's using renewable energies for that is a good thing despite if we think that The energy consumption is too high or not, but I think everyone can agree that green Energy being used is a good thing so he proposed that so we incentivize miners for doing that and What's the best way to do that? If not, you can then extra incentive So that's the basic idea of catering that we're launching today. It's let's say for these first couple months It's a pilot. We also want to see what we're gonna get in terms of adoption and Know understanding with the miners if this is an important thing so basically any miner that use renewable energy to Minehatter and at the same time since we support merged mining, they're gonna be mining Bitcoin or Bitcoin cash or Bitcoin as we He'll be able to receive extra rewards in HDR or native token So he's in a sense incentivize to a good behavior to using renewable energy Mm-hmm. Yeah, and then we're gonna get deeper into this concept of Merge mining a little bit later because this is a crucial to make people understand What is the point of this initiative? Yeah, but first I would like to ask Alex What do you think of this idea of incentivizing miners to use renewable energy? Is it? Is it like the most? Viable option to solve bitcoins environmental problem according to you Very good question Giovanni. Thanks. I think that there is two things we're facing now in the world, right? We're we're coming to a global understanding that climate change is a major problem and it should be at the front Row seat of any kind of major government Agency investor corporation. It's definitely a problem. We're all humanity should be tackling as Bitcoin and other and other cryptocurrencies are becoming more popular and Certainly having a wider global adoption that those two Those two topics are converging right and then now We're trying to figure it out. How do we minimize the footprint of? cryptocurrency mining and Processing and it's not only cryptocurrencies. It's kind of like any kind of a data center or any kind of large consumption of energy so Just a few data points. I don't know if you guys had a chance to read the recent Bank of America Report on on climate change and and cryptocurrencies We're getting an increase of about 40 million tons of carbon emissions in the last two years. That's about Almost 9 million cars on the road equivalent to right if you would look at Bitcoin mining That that energy consumes more than the countries of Greece, Chile or Czech Republic So that's that's a problem. We as an industry and are trying to tackle and The program of a Hathor green is one of the greatest initiatives in the space that I have seen so far as an investment Firm we're taking a very close look on how we can work with ESG funds to allocate funds into the space and ESG is projected to go to over 50 trillion dollars in the next four years So a lot of money a lot of incentives are looking at the space and I think hathor green as a good good bridge To bridge that kind of interest that kind of incentive into our industry Mm-hmm Yeah, and those those are all very good points. I am just seeing that I have a we have a question from the audience It's not exactly right directly related to the after after green initiative. It's more about the future plans of after network so What are the next plans for other network Ian? Maybe you can just quickly remind our your audience about the next milestones that your project hope to achieve Yeah, sure. I mean we do have our roadmap and then we have a new post detail it Also, we are coming to around on Q2. So we probably update Updated and all the community about the next steps I think one of the most sought after features and I also see there's a question about it. It's in a contract Which is coming up? also since there's been a lot of interest in NFTs it's it's one of the things that we kind of fast-tracked and Yesterday we did announce a major partnership for NFTs here in Brazil Which is also an interesting topic for us to talk about because one of the first questions that this artist Which is like a really well-known a global influencer with over 40 million YouTube subscribers one of the first topics he asked was what about energy use, you know, so I believe all the All the projects of companies looking to build on top of networks Any blockchain they're gonna be mindful of that. So I think that's that makes it even more interesting and Pressing for us to address all these these issues as a professor Alex just outlined Mm-hmm Awesome, so I think now we are ready to get a bit more understanding of what to merge mining means so the other network offers this feature which is Merge mining which in a nutshell as far as I understand allows Bitcoin miners to mine both two different coins one Bitcoin and the Hattwork network coin so can you explain Ian? What is the point? What is the advantage for for miners to practice this merge mining? activity and How that is key in order to make this other green initiative function Yeah, sure Merge mining is an interesting concept if I believe it was Satoshi himself who won the Bitcoin top? post back in 2010 Talked about the possibility of chains sharing the hashrate. So as you said, it's pretty spot on It allows Bitcoin miners actually miners of any coin that uses in our case a shot you five six To mine at the same time Bitcoin or or maybe Bitcoin cash or Bitcoin is me and also a CR Which is our coin so they're gonna be using the same work To to mine both points. They don't have any extra costs This is already something important to understand in the green perspective because in a sense for Mining a CR you are not using extra energy. So it's already a very green chain If you take this perspective because there's no extra energy used So on top of that we want to have this Program they have to bring programs to incentivize the miners as well but in India in the very basis of it is already a very green in ESG compliance network itself by user Mm-hmm, and I'm actually curious Is it possible to do this merge mining with more than just two coins? Is it possible like for example to merge simultaneously three four five different coins or It just it just works with two No, it does it's possible to mine multiple points at the same time I mean as long as One of the coins supported. So in our case We we support merge mining. So you can merge mine a CR with let's say Bitcoin But if you have other other points that also support merge mining so you could mine Bitcoin HTR and these other points So it's really good because the same work is being used to secure all this all this network, right? and for proof-of-work Change that's the most important thing that this work is being used to secure secure this change and also to answer your first questions about What's the the benefit for us for using it? It allows us to to gain a very high hash rate Very quickly because we are kind of tapping each of the Into the hash rate of the Bitcoin network, which is the most secure one So I mean that that was the the main idea that we wanted to achieve when we When we decided to move forward with merge mine Since we are proof-of-work chain security and the hash rate is it's fundamental So achieving a high hash rate is is super important Okay So for the audience, I think that it's worth to Simplify this this system as far as I understand basically if you are a Bitcoin miner You might want to Tap into your project start mining the hot or network token as well with this merge mining procedure Prove you that as a Bitcoin miner. I'm using renewable energies And once I prove it to you I get rewards with the net with the hot or network token And that's basically the incentive that you're providing Yeah, that that's correct. I mean on top of the ACR that you're gonna be mining You know, we also gonna provide extra ACR for those who can prove to use renewable energy green energy And I saw there was a one question here about if you do merge mining you would return On BTC or HR would be any less. No, you don't have any performance impact I use merge mine. So your BTC Rewards would be the same and these here also would be the same as if you're doing a solo mining Yeah, awesome. That was a good that was a good point. That's that was a good question to ask So maybe Alex, what do you think about this system of incentives for miners? Do you think that it's it can be a viable solution to tackle this environmental problem of Bitcoin? Oh, I think he Know I think it's it's essential, right? There's a lot of press negative press. There's a lot of noise against Bitcoin mining If we look from an economical perspective Bitcoin averages half of The entire industry as market cap I think that a lot of people although they don't realize it I'm think that Bitcoin is is dirty or dirt energy Majority of Bitcoin is mined with Hydro, which is already renewable. There. There's a lot of Efforts of mining Bitcoin with natural gas and other forms of solar energy wind and so forth So I think that naturally there's a lot of bad press around mining Bitcoin With Hertz the industry devalues the value of the currency and if you have projects like the Hathor green that incentivize and Validate this these miners to prove to the world That they're doing the right thing that they are using renewable energy that only Validates the thesis of Bitcoin being this decentralized form of Improving Access to to financial freedom to the wider audience in the world. So so I think it's a it's a very clever and elegant solution To minimize this bad PR We're getting that not necessarily has has been proven wrong in the global media Sure for sure. I think a lot of that Bad press coverage comes specifically for the reason that a lot of people don't see the value of Bitcoin and therefore They just see the energy consumption of it We have an interesting question from the audience now So if our mining Greeks are not yet set up, can we still participate in the other green project? That's for you, yeah Yeah, sure. I'll also talk a bit more about the process. So So far, it's pretty straightforward. You can go to our website after that green And check out the project and also there is an application form that you can fill out So a pretty straightforward application process as it says is kind of like a pilot for us We're also gonna learn a lot about it and improve the This project in the next few months. So this is This is the the way that miners can apply and to answer the other questions You definitely can apply as as soon as your mine rigs are set up, you know We envision to have the first batch of applications open until July But if you're gonna be mining and you do use renewable energies, you can just get in touch with us and We'll make sure that you are properly rewarded because in the end that that's what we want, right? So even though we're kind of expecting to close applications in July You can you can get in touch with us and we'll make sure to to include you in the program Mm-hmm Yeah, that was actually going to be my next question. So exactly like how people could could apply to this program Yeah, it's it's it's pretty straightforward, you know, just a simple form on the website In the future as we learn from this first experience, so we might improve it change it a bit Depending on the number of locations. We need to might need to make things more automated, but Right now it's just a simple form. They should have to fill out. We will be also Getting somehow from our friends in actual to do some of the processing and well, yeah pretty straightforward Yeah Interesting what yon is doing because just wanted to point this out We've been looking at investing in green Bitcoin mining for a long time. We've got a few products in the pipeline It is one of the major challenges in this industry is the methodology behind Validating a green or renewable Or or Bitcoin that was mined with renewable energy So so that's one of the reasons we're very interested as an investment firm in the Hathor green project because of the Methodology that they're putting together Mm-hmm So we have another question from the audience Al Milan is new in the conversation. She's asking. What is that or green? Have I missed something? So maybe Yon can just in a nutshell resume. What other green is about just some up. Yeah Sure, let's just recap a bit just this initiative from the Hathor network to incentivize Miners who are using green renewable energy For mining Hathor and also, you know, since we use merge mining, they're gonna likely be also mining Bitcoin or other coins So any miners who use renewables, they can apply to the program. We're gonna validate their application and if they are using renewable energy sources They're gonna get an extra reward and in a CR every month Kind of a trying to incentivize a good behavior in the mining industry Mm-hmm Thanks, Ian. So yeah, if anyone in the chat is actually a miner can just check out Hathor's website and see how this initiative works and If you care about making your mining sources Cleaner that could be a solution So, yeah, the website is happy that green, right So we have another question from the audience regarding the mining basically Source of energy. So with most of the mining hash power still coming from China how How do we see the transition to the green initiative look like and how long might that take I guess that's more a question For you Alex Sure, I can try to tackle that question. So It's important to understand that Yes, a good portion of Bitcoin is being mined in China Every day that's becoming less and less. There is a current trend of Chinese miners looking for other solutions or other places to mine around the world And then within China if you if you do your research You will understand that the top tier miners are already mining with hydro, right? And that's a lot of the associations that we're now in China in the rainy season There's a good portion of them, which is not the majority that still mines with coal and other forms of non renewable energies but China as a government is is Really coming down on on that kind of use of energy for Bitcoin, which which probably is one of the reasons Why we've been seeing this bad press surrounding Chinese Bitcoin miners If you go around the world and you look at renewable energies, they're very competitive on the pricing You talk about gas you talk about hydro Mixes of renewables they're becoming very very competitive with the kilowatt walk kilowatt hour costs of running a competitive mining rig So if the question is how do we see the transition from green initiatives and how long it might take? I think we're going to see a very a large portion of the Bitcoin network being mined with renewable energies in the next three to four years and and that's one of our key focuses is an investment firm Mm-hmm Cool and that's that's a funny Sorry and what did you say? Yeah, if I could add something yeah, I also think think there's a lot of The mission that has to come also from the market side. So, you know, if people and institutions they They make this a priority and you know, they put a premium on it. It's definitely gonna Make this transition faster So, you know, if we have like a premium on Bitcoin being mined on, you know, renewable energy Definitely, we're gonna see more miners switching to To this energy sources. So I think there's also, you know, a lot of people demanding for it, you know, there's gonna be an economic incentive also towards its Companies that can require, you know, we build their projects on Green chains, let's say like that. So I think there's a lot of the market demand that's gonna push this this position Yeah, and yeah, that's completely right, right? You have like about 50 trillion dollars coming into the ESG market a lot of that is pushed by the Biden administration and That money is looking to allocate in green chains That money is looking to allocate to miners that can offset their carbon emissions It's just a demand and supply condition of the current market Okay, so now we have another question from the audience which is regarding the token that is available on Formining on ATOR network. So are the tokens available for purchase? Ask the source Maybe Yeah, sure. We are available now multiple exchanges calling Assyndex coin metro Q3 I also see there are some some questions about extra listings, of course This is something that we're always looking for but can't comment a lot on it. Okay, cool So now I think that it's time to welcome another guest to the conversation Hi, Daniel, how are you? good So for those who don't know this is Daniel Huang a representative of F2 pool and steakfish mining pool service provider Who is going to give us some perspective from the point of view of mining pool service provider how? The system offered by Hathor can actually be implemented So Daniel as far as I understand the the mining pool You work for is the first one that actually Implement the other green initiative. Is it correct? Yeah, I believe so and I guess yon can confirm that as well Yeah, that's correct. We will be working with after polls to get more information and validate everything So we can determine the the origin sources and where the miners are located and you know kind of a cross-check a lot of this information to Determine the energy being used Okay, so if I will understand the miners working for your mining pool Daniel are already Providing yon and his company some proof that they are actually using renewable energies I don't believe so yet, but I think that audit process should be Be rolling out with with the Hathor team Yeah, I said we are starting the applications today So any miner can go to our website have to that green and start this process And then we're gonna be working with F2 pool to get more insights into it kind of a validate the application that cross-check it with Let's say most both sources of information to make sure we can kind of You know be sure that the the miner is actually you know where he is and using the the energy sources He claims so yeah, this process is gonna be starting today And we are happy to have the support from F2 pool to help us I Do want to say that it is completely Voluntary on behalf of the miners and mining mining farms Who do elect to kind of prove their? Renewable energy sourcing Yeah, actually, I'm I'm very curious to know your perspective Daniel like how do How do miners that are working for your mining pools? View this initiative that launched by Ian so what what's your thoughts on what's your thoughts on this system of incentives? Yeah, I I can't speak for miners or mining farms and and just just to quickly clarify like the miners and mining farms don't work for us They're just clients of ours as F2 pool is a a service provider that just kind of provides Hash rate aggregation to find blocks together with with the miners, but I think in general the the value of sort of The ethos that Hathor has proposed with their Hathor green program is quite important In in incentivizing this type of good behavior where good behavior is The reliance and and perhaps even transition or switch to to renewable energy I think a good and that analogy is kind of how we've seen the Bitcoin networks and it's and right the the values and the properties of decentralized consensus be secured by Miners and node operators, right? It's it's essentially a side effect that Of the the main main motivator that miners have for profit And so in this case since Hathor green is providing Incentivization for miners, right? That's additional additional profit in their pockets to to go about perhaps a testing that they are using renewable energy and if the if the Profit is is high enough that you know, there may be potential switching from Alternate non renewable energy sources to renewable energy sources and that I think is in that a good net benefit and and I think that At least from the perspective of F2 pool and and other blockchain infrastructure Sir service providers Right, that's something that we can we can back, right? It's a win-win scenario where right everyone Kind of eats and then the outcomes are are positive in terms of the Climate stewardship and ESG goals and motivations. So Yeah, I think that that's very important to achieve as a goal and I see that our audience is very excited about this topic We have a lot of involvement a lot of questions Next question is the following We have a quest very interesting question here So is after green for large mining companies or is it also for let's say an individual whose mining but can prove It run off of solar panels. They have installed on their house Yeah, definitely. I mean It's I mean for us as long as you're using green energy You can you are eligible for for disinitiative. So It's it's really nice to see you have individuals who are mining and especially using green energy on their house. So, yeah, definitely Hmm. Okay, cool. So you don't need to be Plugged into one of these large pools to participate. That's That's great So now I would like to ask you, uh, I would like to ask Alex, uh question regarding The usage of renewable energies for mining bitcoin a lot of critics say That one negative aspect of renewable energies is that is not as constant as Non renewables and that is a major point why it's so difficult to convince miners to switch to renewables because They cannot keep for example Mining rigs that work on solar power Switched on all day long because there is no solar power available all day long. So How do you see this problematic? Alex, that's a very good question Giovanni because for example, we We're creating a fund to invest in Bitcoins that are mined Via renewable energy or that are offset By carbon credits, right and we're rolling that out in the next couple of months So we've been looking very closely to that and that's one of the reasons why we're very excited With the hathor green project But one thing is important to note, right That that is part of the back press that it's being generated and it's part about the the noise that it's being generated You're right and the general press is right to point out that if you're running your bitcoin farm only on solar Solar naturally or on average has a 20 percent efficiency So if you have 100 megawatts of solar power You're going to get about 20 megawatts on average via the via the course of time Right, but what people forget about is that other forms of renewable energy Are not in that category of a 20 percent Efficiency rate one of them, which is the major source of mining bitcoin is hydro Another one that has very efficiency very high efficiency rates Is natural gas? so Yes, you can do a mix you can you can mine with with solar you can mine with wind And if you can and if you can baseline that with other renewable energy sources That are more constant at their production rate such as natural gas or hydro You will be able to achieve 100 capacity or 100 output Of of your energy input over the course of time So so just wanted to point out that there there's a lot of negative press in the space And that's why it's important for the audience and for esg investors To investigate research and and do their own due diligence to understand That mining cryptocurrencies via renewable energy is a very viable solution And and I agree with yan. I think it's a solution that deserves a premium Yeah, for sure. That's actually the information that we are trying to To convey to our audience so We have a question from the audience about this premium. So how how do you structure that premium? Would it be carbon credits? That's uh, that's a question for for you yan about how this premium is going to be structured Uh, in our case what we're going to do is, uh, whatever Uh, you uh, you mine on on our network by using renewable energies You're going to get a percentage extra at the end of each month. So In the beginning we're going to start with 10. So let's say if mine 10 000 coins a month In the end of the month, we're going to Reward you with an extra 10. So a thousand coins in that sense So, uh, but I think uh in the premium also in the sense that we're talking about bitcoin and also professor Alex was talking about the thing. It's kind of the market forces, right? The markets and to say how much extra people are gonna Are gonna pay for for a Green bitcoin that's called mm-hmm Thanks And uh, now we have another question which is uh more related to the partnership between athor and The f2 pool. So maybe that's something that uh daniel can can answer So what is the nature of the partnership between your two guys? Yeah, a partnership collaboration. I think um, we're we're definitely excited to support Any initiatives that it is promoting this sort of climate stewardship? So hathor hathor has already you know for some time been providing merge mining for For f2 pool. So our miners at my bitcoin Do you get merge mining rewards through hathor tokens? But also in addition to this hathor green program You you'll get the additional bonus rewards as well. So It's definitely we we right so f2 pool And steakfish has has been part of like the blockchain infrastructure Carbon working group that has been investigating and designing better solutions to climate stewardship And so right it's it's just our support. I think the the method by which this type of Switch to renewables or reliance of renewables or Or benefit from renewables is is the right approach. So Okay Now Omar s y is asking what are the benefits of the hathor network for and better than other Chain besides the aspect of using green energy UBD, where do you see the price? Um, I guess the main point here is what's the benefit of hathor network? Besides the aspect of using green energy. So what are the other strong point of the network? Yeah Yeah, sure. I mean, uh, I believe we do have an architecture that enables us to scale Uh on layer one Level more than the traditional blockchains in the space. That's kind of how we started And also one of the main aspects that we're looking to achieve Is making it a easy to use blockchain. So you don't need to be a specialist Anyone that knows a bit of coding can can use us There's no security. There's no gas fees. We have fast and free transactions So this is this is for us the way we envision that we're gonna make Blockchain technology is available to the broader public and companies So, uh, it's it's easy to use. I mean a lot of A lot of our advisors and and people use the analogy of Doing what like WordPress did for for the web, you know, uh, it enabled a larger Amount of people to come into and create their own websites and you know, just experience and have a lot online presence Uh, we cannot we also want to do the same thing. We uh, want to be easy to use at the level that Most companies and people can create their own, uh, blockchain based projects Mm-hmm Yeah, and actually I have a question now regarding the At or green initiative because this is of course a very admirable initiative that has a very admirable goal But what I was wondering is the scalability of these initiatives. So Can this at or green model be kind of Used as imitated or taken as a model by other blockchains In order to maximize its impact on this environmental problem of bitcoin And maybe young can can give you you can give us your thought about this scalability of the initiative Yeah, I mean, I sure hope so as I said, this is kind of like a pilot program We're gonna learn a lot from it improve it so And I think there's kind of a inspiration Pain that you said is important. So I do hope that we see other other projects also adopting more This these initiatives and I think that depends a lot on the market response to it So if we do get a lot of miners interested and then people see there's value in it Definitely, we're going to see more more of this In this space Mm-hmm Alex, what's what are your thoughts about the scalability of this Merged mining solution that author is providing to tackle the bitcoins environmental problem Do you see it? Yeah For sure, and I think it's an add-on right So if you look at bitcoin over the recent years It went from its original purpose of being a peer-to-peer payment system to being a store of value and There's a lot of discussions of like how bitcoin Has become this very innovative approach on how you can store you Your your inputs of energy or or your investments and energy right because like michael sailor says if if I generate 100 megawatts Of energy via my very expensive capex hydro plant and I don't utilize that 100 megawatts It's gone right. There is no way for me to get it back But if you can store the value of it in a bitcoin That has become one of the greatest innovations in the energy space in the last couple of years But as we all know bitcoin Is not a protocol that it's suited for high transaction output You can't you can't compare visa and mastercard and amax And all these other forms of transaction cashless payments with bitcoin is just just not there right So we need solutions like hathor that are going to provide that additional layer to make very fast Troop with transactions And and being it on a green chain on a chain that requires less energy I think it's a benefit for both sides of the industry Not only for the people that are bitcoin maximists and want to use bitcoin as the store of value But also as users who want to use the bitcoin network for daily transactions of payments and cash transactions smart contracts and other innovative Forms of a blockchain technology So I think it's an add-on in a good pair Okay, thanks alex So now I would like to ask I would like to to ask if it's if there is any risk Involved in this merged mining practice, maybe daniel since he's the representative of mining pool provider Can answer this question then maybe yan can also tell us what's in his view. Is there any risk? involved in this practice Maybe if you could clarify where where risk on whose behalf Because as far as I heard There is a small there is some sort of risk when you assume things the mine to separate coins because there is Higher risk of 51 percent attacks since the miners don't have to I mean Miners are somehow Facilitated in a possible 51 percent attack on on on on the network So, yeah, I think with with maybe Maybe the answer isn't much simpler than we we might expect but right Obviously a network would would benefit from having its own set of uh Node operators and miners that doesn't have to be merge merge mine. So It's it's probably just as simple as that Hmm Jan, uh, have you uh, do you have any thoughts on that because I read that part on your on your website? Uh, yeah, yeah, definitely. I mean, uh, since the uh, the miners are getting the uh, The rewards extra at the same time as they're mining bitcoin. Uh, definitely there are some incentives You know and uh less penalties for them. Let's say let's put it like that Uh, but I mean from from our perspective the goal is always increasing the hash rates having been distributed um So, uh, the more miners we get the the harder it's going to become for for people to do this kind of attack and I mean so far Even on larger uh merge mine merge mine coins We haven't seen any kind of behavior like that from the miners, especially uh, when we partner with institutions such as after pool We see that this risk increases a lot because they would be the ones that have to uh, to conduct this sort of attack in the sense of Trying to do a 51 percent. So I think that the the risk is greatly reduced By doing this kind of a high level partnerships and you know having good relationships with with the mine Okay, uh now I have other questions from the audience. So, um This is about the latest news that we we hear a couple of days ago So with El Salvador's news that came out yesterday about mining using geothermal energy to mine bitcoin Have you guys thought about approaching them about merged mining hatter? Definitely, it's uh, it's a good idea. You know, uh We're always looking for more miners. Uh But in the end it's it's a decision that the miners have to have to take but uh, yeah The more miners that we have as I just said the better for for the network and the security So, uh, we are going to try and talk to uh, you know, all miners possible and And get them to uh to also merge mine hatter Okay, cool. So we have uh, we have a lot of questions from the audience I'm very I'm very pleased to see so much participation guys. Don't hesitate to Uh to ask some more questions. We have some more time to ask them. So This is uh, this is something about the structure the organization of hatter. So Omar s y is asking how Are you planning to decentralize the hatter network from other labs? If that's sure Yeah, sure. I mean like uh, as of today the network is 100 percent, uh open and decentralized. So Uh for us, we always love the bitcoin philosophy that anyone can run a note and validate the transactions You know, this is also something important that The miners can can do and try and reverse transactions But as long as kind of you have like your own phone, no that's following the rules You could not Not follow what the miners Are trying to do So for us having this Uh decentralization of being able To run a phone note yourself, you know, I could run a phone note anyone. You don't need specialized hardware Uh, this in itself is a regular centralized network. Uh, obviously, I understand that at this moment Uh hatter labs is the main developer of the protocol and uh has a large impact on the decisions But this is something that gradually, uh, we're looking forward to more companies building on it and also contributing to the protocol So our code is on github. It's open source. Anyone can create a request there The team is going to analyze it And the more companies doing it the better, you know, I'd love to see like five 10 20 companies developing products Solutions and also contributing to the to the protocol development, you know, it's I think it's kind of our dream The moment that we actually don't need the hatter labs to be kind of the the steward of of the Of the protocol to have it kind of Completely decentralized as as it happens with Bitcoin Yeah, I think that a lot of our viewers are looking forward for to a version um to a world where We have this decentralized Open source protocols that are also environmentally friendly Uh, so that's that's a great goal to have But now I would like to ask you Um, we saw not long ago that I'm a mining initiative was launched by Elon Musk and Michael sailor It's an initiative aimed at making bitcoin more environmentally friendly and it was called it's called the bitcoin mining council I was curious to know if you have any plans Or you have yeah, if you have any plans to kind of collaborate with this initiative Uh, I think any initiative in this area is very good. Um In regards to collaboration, I don't know maybe in the future Being very honest in the short term I'm not sure, but it would be a good thing. You know, it's not like we're close to it and or we have any objections, but Maybe it's gonna happen. I don't know Maybe alex can give us a couple of uh of his views on this initiative If he thinks that is something that can be somehow Compatible with uh with what uh ian is trying to accomplish Yeah, I think that In general, there It's driven by market demands, right and market dynamics Like I was mentioning, we're projected to see like a 10 fold increase on esg investments in the next three to five years And obviously elan musk micro sailor And some of the other whales in the space are looking to capture that And not only to capture that but to try to solve Our global climate change problem is a win-win scenario for everyone Not only in the blockchain industry, but just in the planet So we I I foresee that we're going to see more and more initiatives Like the bitcoin mining council And I welcome projects like yan's projects and other projects out there to join forces and and try to Come together into innovative solutions that address those two key points, right One is the demand for cleaner energy solutions And the other one is how do we supply that demand and projects like hathor green are trying to solve that supply question, so My forecast is that we're going to continue to see a growth in efforts coming from Investors and and other organizations like the bitcoin mining council and most likely we're going to see a growth And and solutions like hathor green Okay, great. So I think that's now we can start wrapping things up We we have one more we can ask one more question from the audience and then some final remarks so We have emperor me tensify who is asking what are your q2 2021 targets and are you on track to accomplish them? yen sure, um I have to remember now all the uh what we had on the roadmap for for q2 I believe as I said before and then the conflicts are our the most awaited feature That we are working on then right now um Also, as I mentioned before we decided to fast-track a bit the nft features uh in supports because it's just such a I saw after topic or for this so it was in q3 or q4. I'm not sure but We already have some initiatives in this area popping up um, also if I'm mistaken the Explorer redesign that we had It's already underway starting with extra functionality I'd say that a new redesigning the ui it's going to take a bit longer But we're already adding new features and improving the service um and Those are the the main ones. Well, I also on the business side partnerships with Consultancies and software houses that could be what I have from that work. It's it's in track. We're ready in touch with with several of them Yeah, I believe these are The main ones that I can remember in the top of my head Awesome will be closely Monitoring the progress of your project throughout this year. So now I would like to Give you the opportunity to make some final remarks if you think The audience needs to know something more maybe start starting from daniel if you want to make some final remarks Yeah, I I just want to say that Like the fact that hathor is is promoting and is at the network level supporting esg goals I think is wonderful. And I think that's why we at f2pull definitely wanted to share and support this this initiative Okay, alex Some final thoughts. Yeah, sure to to add to daniel's point as a firm We're looking very closely like I mentioned to opportunities to share with our investors Funds and other investment vehicles that invest And and opportunities like hathor grain and another bitcoin Investment vehicles that mitigate the footprint of carbon emissions So we're very glad to continue Partnering and supporting hathor grain And this effort because like I mentioned, I think it's a win-win not only for the blockchain industry, but for humanity in general great Yan, do you want to add something else? Yeah, I just want to say that well first. Thank you alex daniel and you for for hosting us But also that's a really do you hope that this project Well, not only is successful in the sense that we do get a lot of miners applying and Hopefully someday we can have, you know 100 percent of ACR mining based on renewable energies But also this could kind of spark some some sort of inspiration in other projects who also adopt Some initiatives like this Definitely, there's demand as professor alex said It's something that it's going to benefit everyone. So hopefully this can be kind of an inspiration for for more projects you can like this Yeah, I actually really hope that a lot of other projects will follow your example because this is a very important Target to achieve getting bitcoin completely on renewables So for those who are watching Don't forget to check out the website of hathor green which is green dot hathor dot network And check out the very interesting system of any of incentives That yan has prepared for incentivizing miners to Use your renewable energies So thanks a lot for watching everyone. It was a great conversation. I'm Giovanni your host