Helmut Siedl, a pioneering determine within the blockchain {industry}, has devoted over a decade to decentralization and privacy-centric applied sciences. His journey started in 2013 when a quest for a video card for gaming unexpectedly led him to the world of cryptocurrency. Efficiently investing in Litecoin, Siedl quickly enriched his portfolio with DMD Diamond, the place he turned a key investor and advocate for its community-driven method.
Siedl’s dedication to real decentralization has been pivotal within the evolution of DMD Diamond, positioning it as a foundational layer sooner or later blockchain financial system. Past DMD, he’s the founding father of blockserv, an organization that helps blockchain tasks, and co-founder of lab10, which focuses on decentralization and privateness.
On this unique interview, Siedl displays on his private {and professional} evolution, from his early investments to his present function as Chief Visionary Officer at DMD Diamond. He shares insights into his motivations, classes discovered, and his unwavering perception within the potential of decentralized finance, providing a compelling narrative of resilience and innovation in an ever-evolving {industry}.
What initially drew you to the world of cryptocurrency in 2013, and the way did that second form your profession trajectory?
In late 2013, I could not purchase a video card for my PC as a result of they have been bought out resulting from crypto miners. I discovered about this new know-how and was shocked how a nerd like myself was in a position to miss it. So, I joined as an investor, somebody who learn and understood the Bitcoin whitepaper, and believed within the affect this know-how can have on mankind.
May you recount the journey of your first funding in Litecoin and the way that led you to find DMD Diamond? What components influenced your choice to spend money on DMD regardless of its standing as an deserted coin?
I did really feel pressured to rapidly determine which cryptocurrency may replicate the success of Bitcoin. Regardless of being a blockchain “noob”, I used to be intelligent sufficient to grasp that Bitcoin was nearing its peak worth, so investing in it at the moment wouldn’t be a good suggestion. I selected Litecoin because the second-best choice on the time. Then, just a few weeks later, with much more analysis, I did transfer all invested worth from litecoin in the direction of dmd diamond as, for me, it was the true hidden gem with huge potential (that it was deserted a second time wasn’t clear to me that time because it was in some way revived by a greek dude the place we did imagine he simply did what was proper – spearhead a neighborhood takeover)
As one of many earliest traders in DMD Diamond, what insights satisfied you of the venture’s potential throughout its formative phases?
When the neighborhood came upon that the Greek man wasn’t concerned with good intentions, however just for a buy-dead-coin-revive-and-earn stunt, we have been shocked. Nonetheless, as a result of we have been so concerned locally’s growth and believed within the concept of a decentralized coin with modern options that encompassed all recognized enhancements of Bitcoin, we determined to step in and take over from the Greek man. He handed over the GitHub entry and was comfortable to not be accountable for driving the neighborhood ahead. That was once we began to have an effect on DMD Diamond’s evolution, and we started designing the v2 improve.
Reflecting in your 11-year involvement with DMD Diamond, what key milestones have outlined your journey, and the way has your function advanced over time?
I began with v2 in 2014, then moved to v3 in 2017, and at last transitioned to growth begin of v4 in 2018. All through these variations, the coin’s financial design, know-how, and have choice have remained largely unchanged, with just a few important elements stored fixed.
The utmost variety of DMD cash is fastened at 4.38 million and has by no means elevated. The coin rollout for every iteration has been adjusted to be longer and extra sustainable. With v4, we now have lastly discovered methods to realize the seemingly not possible – a complete most coin restrict mixed with an countless coin rollout and reward system for validators who safe the blockchain.
DMD Diamond is acknowledged as one of many oldest community-driven blockchain tasks. What challenges have you ever encountered in sustaining a decentralized and community-centric mannequin?
It has at all times been clear to us from the beginning {that a} really decentralized blockchain can by no means be owned by an organization; it’s at all times owned by the community contributors. Nonetheless, this has created points for us; we had a tough time talking for DMD Diamond, making negotiations with exchanges, and so forth. So, for the primary few years, we referred to our core neighborhood group, which devoted time and personal funds to advance DMD Diamond, because the “DMD Diamond Basis,” although it was by no means a authorized entity. We used c-name titles for our group members to point their obligations inside the group. This method backfired, and it took us a few years. With the launch of DMD Diamond v4, we are able to lastly transfer away from this incorrect construction. DMD Diamond is now really being propelled ahead, and governance is within the fingers of a DAO. Each coin holder with 100+ DMD cash can now affect selections by way of delegated staking assist, the voting energy of a validator, or by working a validator node and collaborating in DAO governance selections.
We developed our personal DAO framework to be much less advanced however extra carefully linked to the core ecosystem logics.
That is why our ecosystem is almost definitely the one one through which the DAO owns all the layer 1 core contract logic, and nobody can improve a single line of code with out DAO approval.
There isn’t a firm, no pre-mine, and no ICO concerned on this venture like in Bitcoin. It is among the few really decentralized tasks. Compared to Bitcoin and the DAO, we’re already one step forward when it comes to how governance selections might be made. I personally assume that giving governance energy to a single, overrepresented group (miners) by way of the flagging of mined blocks for selections on Bitcoin just isn’t ultimate. We imagine that coin homeowners ought to have essentially the most affect, and that is how our DAO works.
Are you able to element your contributions to the assorted iterations of DMD Diamond, significantly from v2 to the anticipated v4 launch? What improvements are you most desirous to unveil?
V2 centered on extending the coin rollout from 8 years to over 45 years, transitioning from a flat line to a mannequin just like Bitcoin’s always lowering rewards over time.
V3 ( our greatest error) centered on masternode know-how as the inspiration for future companies working on a blockchain. Nonetheless, we discovered that main chains utilizing masternodes didn’t wish to add extra options on high of this know-how. Because of this, after polling the neighborhood, we determined to have a full-scale know-how relaunch for V4.
V4 is predicated on Ethereum-like EVM smartcontract ready core logic which lastly offers us the flexibility to behave as a base layer1 for any form of blockchain venture that may be sensible contract coded. BUT we have been conscious we wanted so as to add one thing new to the desk to earn our proper to be one of many many layer1 pillars that construct the inspiration of the longer term heterogene interoperable blockchain panorama. So we select to be the world’s first layer1 that integrates honeybadger hbbft cooperative consensus logic into an EVM-able blockchain. This mix gives us with a number of industry-first options and, for some use instances, provides a bonus that may profit tasks utilizing this edge over these utilizing one other EVM chain.
How has your expertise with DMD Diamond formed your funding philosophy concerning different blockchain tasks? Do you prioritize community-driven initiatives in your technique?
My first three years as an investor and likewise as one of many core individuals behind DMD Diamond have been a sequence of classes discovered and a check of a never-give-up mindset.
My success as an investor similar as with DMD Diamond got here by working laborious analysing tasks and specializing in infrastructure layer1 wants because the core ingredient in my portfolio. Iron guidelines I gave to myself like by no means promote at a loss common down so long as I nonetheless see the potential within the venture nonetheless there was the bottom of my success. Sure, I maintain now many nugatory cash as a result of I by no means promote at a loss. Nonetheless, sure, I gathered increasingly cash from profitable tasks and selected to not promote them out of worry of a crypto winter. I stored averaging down and rising the quantity of cash a lot that the successes far outweighed the dangerous investments within the following crypto summer time. To evaluate tasks I spend money on ones that present utility (most well-liked layer1 or multichain skills) and I received in contact with the group and received a sense of how severe and the way expert they’re was my essential secret. At all times attempt to get in contact with a group that helps to keep away from scams and empty tasks the place nothing is behind. Open supply permits us to simple give you the option decide if there may be actually growth occurring at tasks. That straightforward tactic as an investor did information me effectively by way of 2 metacycles and I’m on one of the best ways to a very good third cycle in 2025.
What distinctive options and improvements does DMD Diamond plan to introduce to the layer-1 blockchain panorama, and why do you imagine they’re vital?
Dynamic blocktimes, instantaneous last transactions, improved random numbers creation logic, entrance working prevention logics, and due to cooperative consensus logic, the nonexistence of microforks/orphans/uncles. This mixed with our radical decentralized and Dao-focused method, is our area of interest the place we expect for some tasks, we’re the #1 option to construct on high. This function mixture along with full EVM skills, is exclusive on the layer1 panorama and can make us the right selection for true decentralized and modern tasks to construct on high.
As DMD Diamond approaches its mainnet launch, what are your expectations for the venture’s affect on the blockchain ecosystem? What future developments do you envision?
After the mainnet launch, our major aim is to be supported by a number of upcoming decentralized multi-chain protocols. It will permit tasks on our chain to work together throughout chains, make the most of stablecoins, and switch their tokens to and from our chain and different chains, enabling them to make use of essentially the most appropriate blockchain as a base for his or her ecosystem logic. We don’t place ourselves as Bitcoin or Ethereum “killer”. As an alternative, we see Bitcoin, Ethereum and ourselves as elements of a heterogeneous, interoperable, multi-blockchain future, present aspect by aspect.
What steering would you provide to aspiring blockchain entrepreneurs in search of to determine really decentralized and community-driven tasks? What classes have you ever gleaned from your individual experiences?
The final word decentralized and scaleable future is extra layer1s extra multichain protocols might be added. As extra demand will probably be upcoming there’ll by no means be some extent the place we won’t scale as a complete to meet the wants. If one layer 1 cannot try this, 10 can, if 10 cannot 100 can, if 100 can’t 1000 can, and so forth. In a decentralized manner, the entire destiny of blockchain house can’t be hard-linked as layer 2 in the direction of one central center chain (that is a Neanderthal evolution department I am afraid, and counsel to not base your tasks on layer2s).
Group-driven tasks mustn’t collect funding earlier than working however quite collect individuals and visions and work on it collectively. Funding will come as soon as individuals see the work is finished and our visions match one another. Some can contribute time, some ability, and a few donate funds, however watch out you do not collect it within the mistaken order.
Work at all times comes earlier than success! And luck won’t ever outweigh dedication in the long run. Luck might be seen as a statistically confirmed issue; the longer the timeframe, the much less affect it has.
Helmut Siedl, a pioneering determine within the blockchain {industry}, has devoted over a decade to decentralization and privacy-centric applied sciences. His journey started in 2013 when a quest for a video card for gaming unexpectedly led him to the world of cryptocurrency. Efficiently investing in Litecoin, Siedl quickly enriched his portfolio with DMD Diamond, the place he turned a key investor and advocate for its community-driven method.
Siedl’s dedication to real decentralization has been pivotal within the evolution of DMD Diamond, positioning it as a foundational layer sooner or later blockchain financial system. Past DMD, he’s the founding father of blockserv, an organization that helps blockchain tasks, and co-founder of lab10, which focuses on decentralization and privateness.
On this unique interview, Siedl displays on his private {and professional} evolution, from his early investments to his present function as Chief Visionary Officer at DMD Diamond. He shares insights into his motivations, classes discovered, and his unwavering perception within the potential of decentralized finance, providing a compelling narrative of resilience and innovation in an ever-evolving {industry}.
What initially drew you to the world of cryptocurrency in 2013, and the way did that second form your profession trajectory?
In late 2013, I could not purchase a video card for my PC as a result of they have been bought out resulting from crypto miners. I discovered about this new know-how and was shocked how a nerd like myself was in a position to miss it. So, I joined as an investor, somebody who learn and understood the Bitcoin whitepaper, and believed within the affect this know-how can have on mankind.
May you recount the journey of your first funding in Litecoin and the way that led you to find DMD Diamond? What components influenced your choice to spend money on DMD regardless of its standing as an deserted coin?
I did really feel pressured to rapidly determine which cryptocurrency may replicate the success of Bitcoin. Regardless of being a blockchain “noob”, I used to be intelligent sufficient to grasp that Bitcoin was nearing its peak worth, so investing in it at the moment wouldn’t be a good suggestion. I selected Litecoin because the second-best choice on the time. Then, just a few weeks later, with much more analysis, I did transfer all invested worth from litecoin in the direction of dmd diamond as, for me, it was the true hidden gem with huge potential (that it was deserted a second time wasn’t clear to me that time because it was in some way revived by a greek dude the place we did imagine he simply did what was proper – spearhead a neighborhood takeover)
As one of many earliest traders in DMD Diamond, what insights satisfied you of the venture’s potential throughout its formative phases?
When the neighborhood came upon that the Greek man wasn’t concerned with good intentions, however just for a buy-dead-coin-revive-and-earn stunt, we have been shocked. Nonetheless, as a result of we have been so concerned locally’s growth and believed within the concept of a decentralized coin with modern options that encompassed all recognized enhancements of Bitcoin, we determined to step in and take over from the Greek man. He handed over the GitHub entry and was comfortable to not be accountable for driving the neighborhood ahead. That was once we began to have an effect on DMD Diamond’s evolution, and we started designing the v2 improve.
Reflecting in your 11-year involvement with DMD Diamond, what key milestones have outlined your journey, and the way has your function advanced over time?
I began with v2 in 2014, then moved to v3 in 2017, and at last transitioned to growth begin of v4 in 2018. All through these variations, the coin’s financial design, know-how, and have choice have remained largely unchanged, with just a few important elements stored fixed.
The utmost variety of DMD cash is fastened at 4.38 million and has by no means elevated. The coin rollout for every iteration has been adjusted to be longer and extra sustainable. With v4, we now have lastly discovered methods to realize the seemingly not possible – a complete most coin restrict mixed with an countless coin rollout and reward system for validators who safe the blockchain.
DMD Diamond is acknowledged as one of many oldest community-driven blockchain tasks. What challenges have you ever encountered in sustaining a decentralized and community-centric mannequin?
It has at all times been clear to us from the beginning {that a} really decentralized blockchain can by no means be owned by an organization; it’s at all times owned by the community contributors. Nonetheless, this has created points for us; we had a tough time talking for DMD Diamond, making negotiations with exchanges, and so forth. So, for the primary few years, we referred to our core neighborhood group, which devoted time and personal funds to advance DMD Diamond, because the “DMD Diamond Basis,” although it was by no means a authorized entity. We used c-name titles for our group members to point their obligations inside the group. This method backfired, and it took us a few years. With the launch of DMD Diamond v4, we are able to lastly transfer away from this incorrect construction. DMD Diamond is now really being propelled ahead, and governance is within the fingers of a DAO. Each coin holder with 100+ DMD cash can now affect selections by way of delegated staking assist, the voting energy of a validator, or by working a validator node and collaborating in DAO governance selections.
We developed our personal DAO framework to be much less advanced however extra carefully linked to the core ecosystem logics.
That is why our ecosystem is almost definitely the one one through which the DAO owns all the layer 1 core contract logic, and nobody can improve a single line of code with out DAO approval.
There isn’t a firm, no pre-mine, and no ICO concerned on this venture like in Bitcoin. It is among the few really decentralized tasks. Compared to Bitcoin and the DAO, we’re already one step forward when it comes to how governance selections might be made. I personally assume that giving governance energy to a single, overrepresented group (miners) by way of the flagging of mined blocks for selections on Bitcoin just isn’t ultimate. We imagine that coin homeowners ought to have essentially the most affect, and that is how our DAO works.
Are you able to element your contributions to the assorted iterations of DMD Diamond, significantly from v2 to the anticipated v4 launch? What improvements are you most desirous to unveil?
V2 centered on extending the coin rollout from 8 years to over 45 years, transitioning from a flat line to a mannequin just like Bitcoin’s always lowering rewards over time.
V3 ( our greatest error) centered on masternode know-how as the inspiration for future companies working on a blockchain. Nonetheless, we discovered that main chains utilizing masternodes didn’t wish to add extra options on high of this know-how. Because of this, after polling the neighborhood, we determined to have a full-scale know-how relaunch for V4.
V4 is predicated on Ethereum-like EVM smartcontract ready core logic which lastly offers us the flexibility to behave as a base layer1 for any form of blockchain venture that may be sensible contract coded. BUT we have been conscious we wanted so as to add one thing new to the desk to earn our proper to be one of many many layer1 pillars that construct the inspiration of the longer term heterogene interoperable blockchain panorama. So we select to be the world’s first layer1 that integrates honeybadger hbbft cooperative consensus logic into an EVM-able blockchain. This mix gives us with a number of industry-first options and, for some use instances, provides a bonus that may profit tasks utilizing this edge over these utilizing one other EVM chain.
How has your expertise with DMD Diamond formed your funding philosophy concerning different blockchain tasks? Do you prioritize community-driven initiatives in your technique?
My first three years as an investor and likewise as one of many core individuals behind DMD Diamond have been a sequence of classes discovered and a check of a never-give-up mindset.
My success as an investor similar as with DMD Diamond got here by working laborious analysing tasks and specializing in infrastructure layer1 wants because the core ingredient in my portfolio. Iron guidelines I gave to myself like by no means promote at a loss common down so long as I nonetheless see the potential within the venture nonetheless there was the bottom of my success. Sure, I maintain now many nugatory cash as a result of I by no means promote at a loss. Nonetheless, sure, I gathered increasingly cash from profitable tasks and selected to not promote them out of worry of a crypto winter. I stored averaging down and rising the quantity of cash a lot that the successes far outweighed the dangerous investments within the following crypto summer time. To evaluate tasks I spend money on ones that present utility (most well-liked layer1 or multichain skills) and I received in contact with the group and received a sense of how severe and the way expert they’re was my essential secret. At all times attempt to get in contact with a group that helps to keep away from scams and empty tasks the place nothing is behind. Open supply permits us to simple give you the option decide if there may be actually growth occurring at tasks. That straightforward tactic as an investor did information me effectively by way of 2 metacycles and I’m on one of the best ways to a very good third cycle in 2025.
What distinctive options and improvements does DMD Diamond plan to introduce to the layer-1 blockchain panorama, and why do you imagine they’re vital?
Dynamic blocktimes, instantaneous last transactions, improved random numbers creation logic, entrance working prevention logics, and due to cooperative consensus logic, the nonexistence of microforks/orphans/uncles. This mixed with our radical decentralized and Dao-focused method, is our area of interest the place we expect for some tasks, we’re the #1 option to construct on high. This function mixture along with full EVM skills, is exclusive on the layer1 panorama and can make us the right selection for true decentralized and modern tasks to construct on high.
As DMD Diamond approaches its mainnet launch, what are your expectations for the venture’s affect on the blockchain ecosystem? What future developments do you envision?
After the mainnet launch, our major aim is to be supported by a number of upcoming decentralized multi-chain protocols. It will permit tasks on our chain to work together throughout chains, make the most of stablecoins, and switch their tokens to and from our chain and different chains, enabling them to make use of essentially the most appropriate blockchain as a base for his or her ecosystem logic. We don’t place ourselves as Bitcoin or Ethereum “killer”. As an alternative, we see Bitcoin, Ethereum and ourselves as elements of a heterogeneous, interoperable, multi-blockchain future, present aspect by aspect.
What steering would you provide to aspiring blockchain entrepreneurs in search of to determine really decentralized and community-driven tasks? What classes have you ever gleaned from your individual experiences?
The final word decentralized and scaleable future is extra layer1s extra multichain protocols might be added. As extra demand will probably be upcoming there’ll by no means be some extent the place we won’t scale as a complete to meet the wants. If one layer 1 cannot try this, 10 can, if 10 cannot 100 can, if 100 can’t 1000 can, and so forth. In a decentralized manner, the entire destiny of blockchain house can’t be hard-linked as layer 2 in the direction of one central center chain (that is a Neanderthal evolution department I am afraid, and counsel to not base your tasks on layer2s).
Group-driven tasks mustn’t collect funding earlier than working however quite collect individuals and visions and work on it collectively. Funding will come as soon as individuals see the work is finished and our visions match one another. Some can contribute time, some ability, and a few donate funds, however watch out you do not collect it within the mistaken order.
Work at all times comes earlier than success! And luck won’t ever outweigh dedication in the long run. Luck might be seen as a statistically confirmed issue; the longer the timeframe, the much less affect it has.
