Introduction
The crypto sector is constantly adapting to the latest financial requirements, showing a resilient commitment to establishing a sustainable and decentralized financial ecosystem. One of the prominent names contributing to this development take into account Sasha Ivanov, the CEO and Co-Founder of WAVES and Units.Network. WAVES operates as a blockchain network using the proof-of-stake consensus mechanism while Units.Network is an interlinked blockchain ecosystem encouraging innovation with the latest cross-chain solutions. This special interview will let our audience delve into his venture and into this sector along with the remarkable achievements of “Power Protocol” last year. The project has reportedly turned the entirety of the ecosystem endeavors into DAOs.
To commence with, can you briefly explain blockchain technology and its potential to Innovate the financial sphere?
In a nutshell, blockchain technology removes intermediaries between products and users, resulting in a more transparent, cost-effective, and secure financial infrastructure. By eliminating counterparty risks associated with centralized service providers such as banks or trading platforms, blockchain ensures a more robust and trustworthy financial system.
Can you share the motivation leading your venture into the crypto and DeFi world?
I’ve always seen the financial aspect of crypto as merely one part of a much larger picture. Blockchain has the potential to fundamentally disrupt societal structures by replacing social consensus with a technical one. I envision the emergence of large DAO structures that offer a viable alternative to current centralized governance models, driving a new era of decentralized administration.
What are the Potential Challenges Causing the present inactivity in crypto trading and how can it be overwhelmed?
Currently, markets are stagnant, likely in anticipation of significant geopolitical events, particularly the upcoming US elections. We can expect increased volatility in the near future. Regardless, crypto should perform better than traditional financial markets. Despite a stronger correlation between crypto and traditional markets recently, crypto is still perceived as a hedge against traditional financial uncertainties.
Can you give a gist of the innovative ‘Power Protocol’ and the vision that drove your remarkable project throughout the last year?
The Power Protocol is about advancing DAO governance to the next level by introducing governance accountability. It rewards decision-makers for successful outcomes that align with DAO goals and punishes those whose decisions do not. This filtering process ensures that efficient decision-makers are promoted, leading to more effective governance and goal attainment within the DAO.
Kindly let our audience know how ‘Power Protocol’ is distinct from the rest of such endeavors.
The key difference between the Power Protocol and other governance models is the continuous process of governance improvement. This process assesses the efficiency of individual DAO participants and adjusts their governance power based on their performance. It allows for a more efficient decision-making process and gives more power to participants whose goals are more aligned with the goals of the DAO itself.
What are the chief characteristics of your extraordinary project contributing to revolutionizing DAOs, DeFi, and finance management tools?
The goal of Units.network is to take the Layer 2 narrative to its logical conclusion, where all layers are fully interoperable and interconnected through the base layer they are all connected to. On top of that, all Layer 2 chains should become properly decentralized and supported by multiple validators, effectively becoming Layer 1 chains. In this scenario, the underlying chain transforms from a Layer 1 chain to a Layer 0 chain, as its goal becomes providing the basic interoperability layer for all interconnected chains. All chains on Units.network are fully interoperable and EVM compatible, with trustless interconnectivity between them.
How is your co-founded project Waves contributing to the broad mission of advancing the decentralized finance realm?
The Waves ecosystem, operating on the Power Protocol (power.tech), is fully decentralized. Projects launching on Waves are funded through the Waves DAO. Additionally, in our new ecosystem of interconnected Layer 2 chains (Units.Network), the governance model will be entirely decentralized. We aim to demonstrate that blockchain ecosystems can only thrive if they are self-sustaining and driven by decentralized incentives. Our goal is to ensure that the ecosystem governance supports the technology to reach its full potential and secure progress for years to come.
Can you elaborate on Unit Network’s endeavors to facilitate the overall financial businesses and communities?
The goal of Units.network is to enable a very simple process for launching your own blockchains and securing your own blockspace. When launched in 2016, the Waves blockchain became popular because it was very easy to launch a token on it; one could issue a token in just a few clicks. Now, we aim to do a similar thing for launching your own blockchain. The process should become straightforward and accessible. In Units.network, all you have to do is make a DAO proposal, and once it’s approved, you get your own chain without the need to launch your own validator nodes.
Is there anything you’d like to add that we could include in the article?
Despite the Waves ecosystem being relatively old for the blockchain space (launched in 2016) and the challenges we’ve faced over the last two years, we are moving forward. The launch of Units.Network is giving Waves a new boost. We’ve always been able to adapt and progress. Stay tuned for the launch of Units.Network, and you will witness the transformation of Waves into a fully decentralized, multi-purpose ecosystem capable of supporting any Web3 endeavor.
Conclusion
Our discussion with Sahsa Ivanov has brought to the front the unlimited potential of the DeFi sector with the contribution of exclusive initiatives like Units.Network and “Power Protocol.” Particularly, Units.Network’s support for the Waves ecosystem has resulted in the platform’s transformation into a completely decentralized forum. He doubles down on the DeFi sector’s further growth despite the current market halt due to macroeconomic factors. A significant contributor to this progress deals with the initiatives like Power Protocol. Hence, these projects are leading the way to a brighter future in the DeFi realm.
