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Jae Kwon. After graduating from Cornell in 2005 with a BS degree in Computer Science, he worked as a developer at Alexa and Yelp and has co-founded iDonethis, a productivity service. He since worked on open-source projects including a CoffeeScript compiler and interpreter written in Javascript, an end-to-end encrypted email system called Scramble.io, and a cryptocurrency exchange. He invented and refined The Tendermint Consensus Algorithm with the aim of liberating the blockchain from the costs and drawbacks of proof-of-work mining. His mission is to make the technology more accessible in order to accelerate the adoption of decentralized ledger technology.

Famous Five:

• Favorite Book? \u2013 Snow Crash
• What CEO do you follow? \u2013 N/A
• Favorite online tool? \u2014 GitHub and Chat
• How many hours of sleep do you get?\u2014 8
• If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cFind the problem and solve it\u201d

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Time Stamped Show Notes:

• 01:37 \u2013 Nathan introduces Jae to the show
• 02:46 \u2013 Bitcoin is something that you want to be small and accessible
  • 03:10 \u2013 Blockchain is not owned by any entity but is still secure
• 03:24 \u2013 Tendermint is one of the engines that enable the creation of blockchain
• 04:05 \u2013 Tendermint\u2019s partner in Europe is Ponton
• 04:46 \u2013 Tendermint was initially self-funded by Jae
• 05:03 \u2013 Jae saw the need to build Tendermint
  • 05:08 \u2013 People were struggling with bitcoin fork
• 05:51 \u2013 Proof of work is how bitcoin secures itself, which is like a lottery system
• 06:40 \u2013 The transaction fee for block reward in bitcoin is much smaller
• 07:55 \u2013 Proof of work in the blockchain has its drawbacks
• 08:30 \u2013 The validators are the users of Tendermint\u2014they validate the block and sign off and vote on what the next block should be
• 09:20 \u2013 Jae\u2019s opinion on Dash\u2019s masternode
• 09:50 \u2013 Cosmos is the internet of blockchain
• 10:18 \u2013 Jae has all in his money in Tendermint
• 10:31 \u2013 Team size is 20
• 10:40 \u2013 Tendermint was funded through a fundraiser
  • 11:00 \u2013 \u201cWe avoid the term ICO because we don\u2019t want to be associated with a security offering\u201d
• 11:13 \u2013 Tendermint released their own token and they\u2019ll create the cosmos hub
  • 11:30 \u2013 The tokens will allow you to vote on the blockchain
• 12:10 \u2013 Tendermint had a cap of $17M
  • 12:32 \u2013 They were accepting bitcoin and ether in exchange of an atom
• 13:00 \u2013 Part of the liquidation went to the Cosmos software and development
• 14:00 \u2013 Out of the $17M, less than $3M has been liquidated so far
• 15:47 \u2013 The Famous Five

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3 Key Points:

1. The block reward in the blockchain allows people to not just earn tokens, but contribute as well.
2. Keep your liquidation conservative and focus on the development of your product.
3. If you see a problem and you think you can create the solution, DO IT.

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Resources Mentioned:

• Simplero \u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
• The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Show Notes provided by Mallard Creatives