Vara Network x Crypto Challengers AMA Recap
Dear Crypto Challengers Community,
đ Here is a recap of the AMA held with Vara Network on 1st May 2024, a session where we got to know more about Vara Network. The AMA session was consisting of Introduction segment, Twitter segment and Live segment.
đ Guest: Catie ( Growth marketing lead )
â° Time: 9 AM UTC
đ Venue: https://t.me/CryptoChallengersD
Introduction Segment
- The host will introduce the guest and give a brief overview of their background. The host will then ask the guest a few questions about their work, their goals, and their vision for the future.
Twitter Segment
- The host will open up the chat to questions from Twitter users. The top 3 questions are selected and will ask guest to answer them.
Live Segment
- The host will open up the chat to allow users to send their questions in the chat. The guest will select 2 questions to be answered.
Below is the recap of the AMA session that took place on 1st May 2024.
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Part 1 : Introduction Segment
Q1. What is Vara Network, What is its fundamental purpose in the realm of blockchain technology, and what unique features or solutions does it bring to the table?
To give a short highlight, Vara Network is a stand-alone layer 1 decentralized blockchain powered by Gear Protocol. Vara Network is the first Gear Protocol deployment, showcasing its innovative technologyâs power and potential. + Provides a fast, secure, and scalable environment for dApps.
Vara benefits from Gear Protocol â its unique tech stack that includes the Actor Model, Persistent Memory, and WASM! Letâs learn a little about each of these:
The Actor model is a concept that enables asynchronous messaging and parallel computation, this increases the program speed and allows for building more complex apps more easily. The killer feature of Actor model is that the actors(e.g. programs) donât share any state, it gives Vara extra security in case something goes wrong in communication between 2 programs it will not affect the whole blockchain.
The Persistent Memory concept is a clever and effective memory visualization technique where the programs donât use shared storage but rather their full state persists in individual memory space. It allows tracking memory access and ensuring that only the required pages are persisted and loaded when needed resulting in efficient use of storage.
And finally, you must know about WASM, it allows you to run any byte code in a sandboxed environment meaning, smart contracts on Vara are run as WASM programs and the best part is this enables writing and compiling Smart contracts in many native WASM compatible programming languages such as Rust!
What can our listeners do on Vara Network?
it actually depends on if your community is tech or non-tech.
so, for the developers, they can use Vara to build decentralized applications across a wide range of industries, from gaming and finance to supply chains and more. Gamers can experience faster, more secure, and more interactive gaming experiences on Vara Network, thanks to its scalability and low transaction costs. Vara enables true ownership of in-game assets and other digital goods through non-fungible tokens (NFTs). Validation & nomination. Develop smart contracts from examples in the Wiki and test smart contracts on Gear Idea.
I will leave here some usefull links: https://idea.gear-tech.io/
https://wiki.gear-tech.io/docs/developing-contracts/introduction
and for non-devs, Vara runs multiple community events, like competitions etc. of course the project is community driven
Give us more information about Varaâs token utility and its role in the Vara ecosystem.
So one of the cases of using VARA is staking, this can be done by becoming a Vara Nominator where you decide which validator you support with your VARA Tokens and earn rewards too. Vara Network also practices on-chain governance where you can wisely utilize your Vara Tokens to vote on network proposals!
and of course token is used for transaction fees
Vara Network is praised for making blockchain development more accessible. Can you elaborate on the technical specifics of how Vara Network abstracts complex blockchain functionality to provide developers with a simplified method for creating decentralized applications (dApps)?
When you wish to build a project on Vara, you must start building it on Gear protocol and deploy it on Vara Network.
With the help of WASM, developers donât need to learn a completely new tech stack, they can simply use their existing general-purpose programming languages to program a smart contract, like c, c++, Rust, etc. This step itself simplifies dapp development significantly.
Also, Gear Idea https://idea.gear-tech.io/ is a convenient tool that allows program developers to easily and swiftly upload programs to a Vara Network directly through their browser without additional configuration.
How to Become a Vara Nominator? What are the requirements?
Nominators are passive participants in the proof of stake consensus mechanism, they indirectly contribute to maintaining the health and security of the network by delegating their tokens to the most reliable validators who actively confirm blocks on Vara Network. In turn for their support, nominators receive rewards which depends on the networkâs economy and the percentage the validator takes for themselves!
Hereâs a step-by-step guide to how you can be a nominator for Vara Network
https://wiki.vara-network.io/docs/staking/nominate/
Part 2 : Twitter Segment
How does Vara Networkâs on-chain governance mechanism function, and what role does the OpenGov framework play in ensuring decentralization and community involvement in decision-making?
Vara empowers its community to shape the networkâs evolution through an on-chain governance mechanism. To ensure decentralization, longevity, and flexibility, Vara adopts the widely recognized OpenGov framework as its native governance model. This approach enables any VARA token holder to engage in Varaâs decentralized governance, contributing to decisions regarding future updates or modifications to the network.
The objective is to ensure that the Vara Community plays a central role in decision-making processes, guiding the networkâs direction through collaborative efforts. To achieve this, Vara establishes clear mandates and values to facilitate organized discussions and decision executions.
Varaâs governance operates democratically, considering token holdersâ votes and allowing them to delegate voting power in various ways. Community members can propose, discuss, and vote on proposals submitted by the community itself.
A Referenda can be proposed, discussed, and voted on through Varaâs governance forum: https://vara.subsquare.io/referenda
How do you publicize your ecosystem where English is not well spoken? Do you have local communities for such regions where English is not well spoken?
The Vara Community ensures that people from diverse countries, regardless of their language, can engage with web3 and blockchain technology through the Vara network.
This is accomplished by organizing various events, including spaces, meetups, workshops, and activities like painting and football games, conducted in languages other than English.
Vara provides a platform for enjoyment, fostering strong connections, and collaborating on innovative projects.
You can explore all upcoming Vara events on the Vara Events Page: https://vara.network/events
Is NFT also part of your project and I would like to ask you how you see this technology currently? What exactly does NFT offer in your project and what use cases do you see for this technology, in the future in the crypto market?
So as we discussed Vara is a decentralized layer 1 blockchain and it supports a variety of use cases including NFTs. Letâs go over the unique NFT features possible with Vara Network
there is a posibility to build the dynamic NFTs, since Vara has a cool frature such as delayed messages and gas reservation
they allow NFTs evolve due to some external conditions, for example it can change due to weather forecast or whatever you want
so basically you have reserved gas for it, and till you have enough gas it can happen multiple times
Vara therefore supports programs that can enable NFT functionality and as I said, Vara is a community-based project. So if someone who feels strongly about NFTs and decides to integrate their NFT project with/on Vara â Why not, go crazy!?
Part 3: Live Segment
You tweeted on VaraNetworkâs Twitter, namely #VaraSquadMascot, can you tell those who might not know what #VaraSquadMascot is?
love the question and the fact you followe up the our latest news!
so we were hosting Vara Mascot contest. This contest offered participants the chance to design a unique mascot that embodies the spirit and values of the Vara Network, such as innovation, connectivity, and forward-thinking in the blockchain space. The initiative was designed to be accessible and welcoming to everyone, regardless of artistic experience. So if you like such kind of activities woul be glad to see you as a participant in the upcoming Vara events đ
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
yes, I would love to share itwith you guys, now the content s constanly updated and new video are added weekly, so more tutorial to go! https://www.youtube.com/c/GearTechnologies
With this we came to the end of todayâs AMA.
Learn more about Vara Network:
http://vara-network.io
