KuCoin AMA With Meson Network (MSN) — DEPIN Unveiled: Decentralizing and Empowering Infrastructure
Dear KuCoin Users,
Time: April 27, 2024, 10:00 AM - 11:07 AM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session featuring the EU lead/Community Manager of Meson Network, Nijat Mayilov, in the KuCoin Exchange Group.
Official Website: https://meson.network
Whitepaper: https://docs.meson.network/Meson-Network-Whitepaper-v1.6.pdf
Follow Meson Network on Twitter, Telegram and Discord
Q&A from KuCoin to Meson Network
Q: Can you introduce yourself to the community? What is your background?
Nijat: I'm Nijat Mayilov, the EU Lead/Global Community Manager at Meson Network. I have been working here for two years. I have experience in web development and decentralized networking.
Q: Can you briefly describe your project to us?
Nijat: Meson Network is revolutionizing Web3 by establishing a streamlined bandwidth marketplace through a blockchain protocol, replacing antiquated labor-based sales models. Our innovative approach consolidates and monetizes idle bandwidth from long-tail users at an unprecedented low cost, serving as the cornerstone for decentralized storage, computation, and the burgeoning Web3 Dapp ecosystem.
Our vision extends beyond the present, aiming to forge the world's largest bandwidth marketplace. Meson envisions a future where users effortlessly exchange their surplus bandwidth for tokens, while those in need can access bandwidth globally within Meson's marketplace. Unlike conventional sales models, Meson rejects the top-down approach favored by existing cloud vendors. Instead, we champion an open bandwidth exchange, providing an alternative to address the evolving demands of the dispersed long-tail market.
Q: Can you explain what makes your project different from its competitors?
Nijat: Sure! Let me explain.
Bandwidth Marketplace. Use tokens to aggregate global idle bandwidth (from Cloud service providers and Telecoms) and residential bandwidth (sourced from Mobiles, Routers, and IoT devices). The bandwidth cost from Meson significantly undercuts that of traditional industry giants.
Serve decentralized storage systems, streaming platforms (for Images & Videos), and proxy services. The services cater to both B2B (business-to-business) and B2C (business-to-consumer) markets. Applications developed by Meson are built on an ever-expanding bandwidth foundation.
Strong community. We have active users around 350k+ globally, with 1-2 million unique user visits / month by Google Analytics in two products' domains (gaganode.com and meson.network), and users are distributed in around 150 countries. You may refer here.
The core offerings of the products currently include the following:
Gateway X- Solving a fundamental problem currently limiting IPFS, Filecoin, Arweave, and Greenfield use cases. By allowing users to deploy their own IPFS gateways, users can use their own storage facilities for uploading, storing, and sharing files with much higher efficiency and lower cost.
Gaganode- Enabling privacy preserving and anti-censorship experience by accessing a massive pool of bandwidth and IPs from idle smart devices with innovative economic incentives designed for the network contributors.
IPCola- Powered by Gaganode, IPCola is a customizable big data solution. IPCola's are currently being largely used by people from different industries including social media, adTech, e-commerce, etc.
Solution(s) to current industry:
Through the Meson network, we can tackle two key challenges:
1. Balancing bandwidth supply and demand
2. Overcoming the constraints of the traditional salespeople model in resource aggregation.
We're developing a bandwidth exchange that utilizes tokens to encourage individuals to contribute their unused bandwidth resources, earning network tokens in return. Moreover, those in need of bandwidth—be it individuals or businesses—can acquire it directly from this network.
What makes this approach unique is its foundational reliance on tokens. Tokens offer a novel method for aggregating resources, especially the long-tail ones.
Under this model, resource owners don't require connections within tech firms; they simply adhere to the protocol and integrate into the network. Leveraging tokens, we envision creating the world's largest bandwidth exchange, potentially surpassing giants like AWS.
Q: What are the major milestones your project has achieved so far?
Nijat: Our market adoption has been substantial, with over 330,000 miners and more than 100,000 nodes spread across more than 150 countries. Our revenue is on a rapid uptrend, and we have established significant partnerships within both the Web3 and Web2 sectors.
The product-market fit for Meson Network centers around its ability to bridge the gap between the surplus bandwidth available from various sources like IDCs, residential connections, and those in demand for robust bandwidth. It particularly fits markets that require decentralized, secure, and scalable bandwidth solutions such as:
1. Blockchain and decentralized applications (dApps) that require distributed storage and data delivery.
2. Content delivery networks (CDNs) seeking to diversify and expand their bandwidth sources cost-effectively.
3. Online services like gaming, streaming, and social media platforms that demand high-bandwidth resources for a seamless user experience.
4. Enterprises and individuals in need of big data services for data scraping or maintaining privacy.
5. The target market/ Audience
• Supply Side
Our target audience includes individuals and businesses with cloud machines, mobile devices, routers, and IoT devices who are looking to monetize their idle bandwidth.
• Demand Side
• For IDC Bandwidth: Our primary audience mirrors those of CDN services. We initiated our services within the crypto domain, catering to decentralized storage products like Arweave, IPFS, and Filecoin. We've also collaborated with applications such as Phantom (a Solana Wallet) to enhance the transfer speeds of their NFT images/videos. Our long-term vision is to expand our reach to a broader internet audience.
• For Residential Bandwidth: Our focus is on users seeking proxy services. For instance, these services can be leveraged to retrieve data from social media platforms. Currently we are competing with 'brightdata, oxylabs, etc' platform which could generate $1 billion/year in total.
Q: What are the most significant updates currently?
Nijat: One of the most significant updates is our mainnet launch. As you mentioned before, Meson Network (MSN) will be available on KuCoin and several different top tier exchanges. Also we released MSN staking contract on the testnet. It will be available on the mainnet soon. Users who stake their MSNs will get a chance to participate in the seed round of the XLander. XLander itself was a really good update. It's a L1 hybrid, new-generation blockchain. To know more, please check here.
Q: How does the community share revenue from the protocol?
Nijat: Meson Network is using a blockchain-based model to share the revenue with the users. Users can participate in the network mining using their idle devices and bandwidth. They don't need to invest in new mining equipment or special devices. Any Android phone, PC, Linux box can be a mining node. This helps us to create a really good decentralized and efficient network of nodes. To learn more about mining and revenue sharing, please check this link.
Free-Ask from the KuCoin Community to Meson Network
Q: How do miners contribute to the Meson Network, and what rewards do they receive?
Nijat: Miners contribute to Meson Network with their idle devices and bandwidth. Miners are the backbone of the network. All our bandwidth and IP resources are provided by our miners. They get MSN tokens based on their contribution.
Q: What is the main goal of the Meson Network, and how does it plan to achieve it?
Nijat: Our main goal is creating the biggest bandwidth marketplace in the world using blockchain technology. We have a strong plan, good team and a lot of experience. We believe that archiving this goal isn't hard for us.
Q: What is your strongest advantage that you think will make your team leading the market?
Nijat: Our strongest advantage is decentralization, cheap and efficient bandwidth service offerings, and of course, the community. We have a big and enthusiastic community that support decentralization and innovation.
Q: How does your project plan to drive real-world adoption and use cases for the token?
Nijat: We have multiple different products. For example, IPcola, GatewayX, GaGaNode, Decentralized CDN etc. These products are used by big companies and individuals around the world.
Q: How can we learn more about your project and get involved? What are the best channels and resources for following your project updates and announcements?
Nijat: The best way to learn more about Meson Network is through our docs. Please check the following links:
-XLander
-IPCola’s Docs
-Meson Network’s Docs
Q: Do you ever worry that one day a project with even more advanced technology could potentially replace your own?
Nijat: No. Technology is involved, but our network is also involved. Our tech team is working really hard to bring new features and innovations to the network. Decentralization is the future and Meson Network is an important part of this future.
KuCoin Post AMA Activity — Meson Network
🎁 Participate in the Meson Network AMA quiz now for a chance to win 10 MSN!
The form will remain open for five days from publishing this AMA recap.
Meson Network AMA - MSN Giveaway Section
KuCoin and Meson Network have prepared a total of 200 MSN to give away to AMA participants.
1. Pre-AMA activity: 80 MSN
2. Free-ask section: 50 MSN
3. Flash mini-game: 40 MSN
4. Post-AMA quiz: 75 MSN
Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.
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