Celo Camp 2020: AMA With Marek Olszewski, Co-founder of Celo

Introduction to Celo Camp

Celo Camp, a virtual two-month program, is introduced by Rachel Jacob, the program manager at Celo Camp. The application deadline for the program is approaching. Rachel provides an overview of the qualifications and introduces the guest speakers, Marek Olszewski, Co-founder and CTO of Celo, and Josh, a developer relations engineer at Sealab.

Marek Olszewski’s Background

Marek Olszewski’s background is discussed, highlighting his role as the co-founder and CTO of Celo and his previous experience at MIT and GoDaddy. Marek’s expertise includes machine learning, deterministic multi-threading, and transactional memory. He also worked at Google, Microsoft Research, and Fun Labs.

Full Stack Approach of Celo

Marek explains Celo’s full stack approach, mentioning the Solo SDK used by app developers to build on Celo and the flagship mobile application, Velora, which serves as an easy-to-use mobile wallet. He draws inspiration from Apple’s software and hardware integration, aiming to create unique experiences that are challenging to replicate when only building on one side of the stack.

Mobile Device Connectivity and Adoption

Marek emphasizes the increasing number of active mobile devices and smartphones worldwide. He reveals the staggering statistic of eight billion active mobile devices and predicts that by 2025, almost everyone will have access to LTE or 5G connectivity. This trend excites him and aligns with Celo’s mission.

Unique Features of Celo

Several unique features of Celo are highlighted. Firstly, the ability to add a token to the platform and whitelist it as a gas currency through on-chain governance. Secondly, the capability to send currency to phone numbers, allowing for easy and user-friendly transactions. Finally, Marek discusses Celo’s efficient light client, which utilizes epoch-based syncing and a fast proof-of-stake consensus protocol, ensuring scalability and faster transaction processing compared to Ethereum.

Solidity Compatibility and Decentralization

Marek addresses the issue of solidity support in other layer one blockchains, emphasizing Celo’s 100% compatibility with Ethereum’s solidity. He assures developers that Celo supports the same signature schemes and cryptography, providing a seamless transition for Ethereum developers. He also mentions Celo’s shorter block times and efficient lifeline protocol, which enable bigger blocks and promote decentralization.

Future Developments and Opportunities

Marek mentions the upcoming Plumo release and invites the audience to explore the possibilities of bringing the Velora wallet to billions of mobile phones worldwide. He discusses the potential for merchants to generate invoices for unique users, similar to the Coinbase API, and encourages the audience to participate in the community hackathon.

Q&A Session Highlights

The Q&A session covers various topics. Some highlights include discussions on earning interest on cUSD, vulnerability to SIM swap or social engineering attacks, using Celo for voting in Aragon, compliance with regulations, and bridging ERC20 tokens to the Celo blockchain. The developers present the Celo developer tools, such as ContractKit and Valora, and mention the compatibility of Celo with popular Ethereum tools like Truffle and Remix.

Conclusion and Upcoming Event

Rachel concludes the AMA session, expressing gratitude to the speakers and the audience. She announces the upcoming event, an Investors Fireside AMA on October 7th, where industry experts will address questions about fundraising.