We are pleased to announce our next AMA on May 20th 2021 at 01:00 PM UTC Time: Satoshi Club x Digital Transaction
⚠️Click to see the hour
⚠️Total Reward pool: $2500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Digital Transaction Telegram group
👉 Follow Digital Transaction Twitter
We will have the following structure:
Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 250$/15 users – Open chat for 120 seconds. You can post Max 3 questions. Digital Transaction Team will select 15 questions and answer them.
Part 3: 2100$ – A quiz about Digital Transaction
For more details:
Digital Transaction Website – digital-transaction.com
Digital Transaction Telegram – @digitaltransactionofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What can AMA satoshi offer to the community ?
How can we benefit more from what you offer?
Can we all participate in this project?
Transactions are validated through ParallelChain®’s unique Proof-of-Immutability ( PoIM) algorithm, Can you introduce us to the Proof-of-Immutability algorithm? Why did Digital Transaction choose to use the PoIM algorithm over other algorithms?
Why does Digital Transaction need the three node tiers: Authority Nodes, Validator Nodes, Support Nodes in the XPLL Community? What is the basic difference between these three node tiers?
eKYC-Chain is 1 of 5 products of Digital Transaction, what is the highlight and difference of eKYC-Chain from other KYC products? And what is the role of eKYC-Chain in Digital Transaction?
On your site, I found that you have three networks: eKYC-Chain, PreventiveChain, and ApprovalChain. What is the purpose of each network, their functions, and who can use them? Are all these 3 networks used in parallel and independently of each other, or are they closely related to each other, as the basis of the entire project (like the three elephants that hold the Earth)? How and why did you come to the creation of exactly three networks? And what problems do these networks solve?
You are claiming that ParallelWallet is unforgettable and unhackable! What is the uniqueness and peculiarity of your wallet? What kind of protection and keys will be used to keep my data and assets safe, data recovery methods? What methods of transaction confirmation will be configured? And as I understand it, ParallelWallet will be available in Q3 already?
Can we aspect ParallelChain to be environmentally friendly? Why and how digital transaction achieved or expect to achieve that?
2020 was a year of victories for Digital Transaction! Grand Prize: “FinTech of the Year 2020 in Start-up”, “Outstanding Real-Time Monitoring Blockchain Application System Solution” and Hong Kong Business technology excellence AWARDS 2020 “Blockchain – Computer Software”. Congratulations!!!
Why did you receive these awards, please tell us. What inspires you to win and achieve? What contribution did these victories bring to the development of the project?
I wanted to ask, is there any plans to use XPLL as a payment mechanic in between companies, people or eCommerce? As I understand, for small transactions there is NO gas fee, also the blockchain infrastructure is the fastest available, validation is also the fastest available. I once heard of a blockchain possibly doing this:
I buy an item, my USD immediately gets swapped for XPLL, my XPLL gets immediately transferred to the seller’s account, the XPLL is immediately swapped back to USD.
This causes lightning fast transactions with almost no fees for no matter how big a sum of money we are talking about. Since the transaction is done within milliseconds, even if XPLL price is volatile it should have no effect. This can be done quite simply with an app or an integration with an existing system.
My job is exports, and we have a lot of difficulties transferring money overseas, always late, fees are big and people always ask 1500 questions about the money, and also there is the trust issue too. It’s really a hassle both to send and to receive something. I personally believe the first blockchain that will achieve the milestone of becoming the trade standard for import/export operations will replace FIAT. You have the means and the technology to achieve this, with Biometric KYC this basically serves as a power of attorney when sending the money, I would request the CEO’s account or something so he may be held accountable later if something goes wrong also will likely convince governments much faster, perhaps it can be a company account too, instead of the biometric KYC it may be tied to the companies DIGITAL NFT, imagine that, so now its a company wallet. I can increase the examples here but i think you get what i mean.
Your project has a lot of different areas it can be used at, I was wondering if you also intend to go to this direction?
My second question is, what real word problems are you intending to solve, and are there any current real projects you are invested in or that have invested to you ? Here i am not asking for examples, but real contracts that you have signed or are in the talks of signing?
Thank you for the read, I am a passionate supporter and an investor of yours 🙂
At 100X speeds, this is revolutionary in blockchain – so does this mean Parallel Chain will be Quantum-ready in the future?
With so many experts involved in the project, has Parallel Chain had an independent security audit or have plans for one?
Considering the widespread continued usage/value of mainframe computers, it seems ‘funny’ to speak of legacy blockchains circa 2016. But as innovation continues to accelerate, can you describe a cost/performance justification as every use case may not need something as robust as Parallel chain (I’m speculating?). Thanks.
Your blockchain will be secured by three sets of Nodes which are Authority Nodes, Validator Nodes and Support. Authority Nodes and Validator Nodes appears most important and your blockchain will have a maximum of 120 Authority Nodes and 600 Validators Node. True blockchain decentralisation starts with will how nodes composition are made of, so I will like to know how will you select these nodes? Who can become a node and what are the resources or requirements needed? And considering that Ethereum blockchain has about 8,000 active mining nodes, yet there are still issues with transaction fees and processing, why will you only have 120 active Authority Nodes and how will you ensure that these nodes miners will not increase processing fees like the 8000 Ethereum miners by the time your blockchain becomes more congested?
The XPLL Governance model is somewhat different. Rather than entrusting holders of $XPLL with the management of decisions and proposals, you are going to have a Governing Council that will be composed of members appointed by the Board of Directors at their sole discretion, with the members of this Council expected to rule for two years. Doesn’t this look like a centralised practise in a decentralized setting? What is the selection process like and who can be part of your governing council? Why are the council members whose only duty is limited to governance management, paid 500,000 $XPLL and for how long will this payment continue? How can we be assured of a smooth and transparent governing process and in what way are the opinions of the larger community of XPLL valued within your ecosystem?
On long run, does Digital Transaction aim to have a dedicated interface (application) for end-users or maybe a card? What are the adoption plans for nontechnical end-users?
ParallelChain blockchain boasts the fastest transaction processing with almost zero latency and your blockchain will be powered by two architectural layers of chains: the Public Mainchain Layer and a Private ParallelChain Layer. How does these two blockchain layers interact to ensure a fast/secure transaction execution and how are they designed to be able to interact with other network such as Ethereum or Hyperledger in case of a possible need for platform migration? What is the need or function of the second private layer within ParallelChain blockchain since most transactions are executed by the Mainchain chain which also produces verified blocks and store these transaction logs in its root module?
Features of the XPLL ecosystem include, storing XPLL on parallelwallet, high performance parallelchain blockchain, PoIM immutability proof, Blockchain perfect migration. Can you explain each of these elements of the ecosystem in a simple way?
The total supply is limited to 1,000,000,000 during the first 3 years after the end of the private sale period. 400,000,000 tokens will be injected into circulation, while 600,000,000 tokens will remain in the Treasury. Do you have an estimate to burn the XPLL token? What percentage would they burn in each burn event?
There are 3 levels of nodes in the XPLL community: authority nodes, validation nodes, and support nodes. What is the difference between the three levels of nodes?
Digital Transactions has a ParallelWallet which aims to be unhackable, can you share more details about the security method and encryption you’ve provided to this feature and can the users have a multiaccount?
Your Parallel Wallet has a fraudproof biometrich keys authentication, but the truth is not all the mobile devices on the market are compatible with this kind of technology, are the bio-keys irreplaceable or is there any other way to access the wallet?
The Digital Transaction group through it’s native business blockchain, ParallelChain, offers divers range of cutting edge features, which will power unique technologies with direct real-world application, geared towards enterprises’ growth and digital transformation. Among such feature is the Proof-of-Immutability, which is a proven security assurance, ParallelChain offers all it’s participants. How is immutability continuously proven on ParallelChain considering the somewhat toxic nature of DeFi, what makes ParallelChain highly and completely immutable, and how does ParallelChain securely handle the sensitive private information of it’s participants?
A couple of months back, Digital Transaction achieved a key milestone to it’s blockchain development by becoming an ISV partner with Amazon Web Services (AWS); which is one of the biggest cloud computing service provider in the world. Given the history and pedigree of AWS worldwide, how will this unique partnership be of immense benefit to Digital Transaction? Also, as an ISV partner, what benefits and support has this partnership provided and will continuously provide ParallelChain with achieving it’s developmental growth strategies?
You have a great line of security products, such as the PreventiveChain that bases its methods on biometric systems to help businesses monitor user patterns and pre-empt improper user and leakage of the organization-critical data, but how can the users be sure this huge amount of information won’t be leaked to external sources? Is it completely private for bussinesses usage?
I was really impressed that you are in partnership with the Amazon Web Services, I saw on your website that this collaboration is based on the option for AWS ‘services to tun ParallenChain-based solutions seamlessly on AWS cloud, but will it be more functions available in the future? Like using your private wallets for crypto and fiat payments on Amazon?
I saw that the private sale of token 2 is now closed. For those who missed the chance, will Digital Transaction offer another round of private sale? If so, would it have a maximum limitation to the purchase of token?
How secure is Parallel Chain’s wallet among any other wallet as you said that ParallelChain wallet is much secured, efficient, and much safer data privacy?
I am just a beginner at the crypto world and I read about the Proof of Immutability on your website. Can you explain this algorithm to me and for others like me who doesn’t understand it too?
Digital Transaction claims that ParalelChain has the fastest blockchain in the world. What report or proven data supports you on this regard? How will you disprove if anyone else has some claim?
Your platform got a different rewards and recognition which is from different rewarding platform which are the Grand Prize: “FinTech of the Year 2020 in Start-up”, Outstanding Real-Time Monitoring Blockchain Application System Solution”, Blockchain – Computer Software”, Ranked #1 Blockchain in the World for:Blockchain Performance and the Total Cost of Ownership
The Best Blockchain Solution for:
Contract Management. So,for all those several rewards and recognition that your platform received,what impacts did it bring to Digital Transaction network, to Community and to investors of your platform? Thank you
One of the products of Digital Transaction is ChattelChain in which it offers instantaneous cryptocurrency trading, insider fraud prevention and integration with the unhackable+unforgettable ParallelWallet. So,can you explain how does instantaneous cryptocurrency trading works? How does ChattelChain become a reliable in preventing hack and fraud in ParallelWallet? Thank you
I want to ask about Parallel Wallet that you say it is unforgettable and unhackable. Current wallet applications are also not hackable with the current speeds of the computers and even super computers but aboout the unforgettable feature I have questions on mind. What happens if some technology can scan the faces of the people and trys to match it with your wallet and hack people? How can you make sure you have anti-spoofing face ID? Because at first it looks like a huge security breach.
You developed a system with 100,000+ TPS with 0.005 seconds blocktimes. That’s really a crazy amount of speed. How did you achieve that. There are currently not a single blockchain platform that even close to that speeds. Are there any working version right now either it is beta ot testnet? Did you reach that speeds with real world examples? And in order to achieve these speeds did you sacrifice from decentralization?
You declare your records in transaction speed and minimum delays. What are the current figures for today and how did you get them? Tell us how the network tests are going and whether your network will be able to withstand the loads like in the Ethereum network without problems and losses in functioning?
Many years ago I got the first mobile phone with bluetooth function. I was very happy about this circumstance, but it turned out that this bluetooth transmits only numbers and nothing else. That is, there is bluetooth, but it is useless. You have a fast blockchain.But is there any real benefit from it? Have you found a real use for your network? Can there be several examples of using ParallelChain where other networks would not cope?
Do you collaborate with other blockchain projects? Perhaps your network is so perfect that it does not need outside help, but other projects would benefit from your experience. Do you help developers of other networks and how do you generally relate to charity?
I see that your XPLL Private Sale round 2 was closed early. I assume it was a huge success! Was it oversubscribed by a lot?
Please tell us why you decided to develop your own wallet ParallelWallet dapp? What benefits will it give users over using existing wallets that sup[port ERC-20 ?
I read that Digital Transaction project already built since 3 years ago, its really great!. Can you describe what achievement that Digital Transaction already got so far for this 3 year? And what are your goal for your project after this?
Using your blockchain, the user can build the necessary network configuration depending on the specific requirements. This is written on your website, but it seems to me that it requires additional explanation. How is the selection of configurations? I need to have a node for this and is it possible to use several types of configurations at the same time? And why is there such a division into a private, public and corporate network?
Could you please clarify details about the biometric system for secure and effective verification and authentication eKYC-Chain? Do you require all users to pass KYC in order to join the DTL ecosystem? What will be the main use case for it and how does it differ from the competing KYC crypto solutions?
Digital transaction is the first Public Personal Enterprize blockchain with high speed to power an application. I see that you have native token name with XPLL token, could you tell us what are the main role of XPLL token inside Digital transaction platform? Do we need your token to use your service?
I read on your medium that fee structure prior to the launch of the Mainchain subsequent changes will be determined through commuñity voting and governing council voting. What aim do you have to allow community participation in this and how is the voting done? Also what does governing council votes stands and who can be the part of it?will there be voting even after a mainchain lauch?
What are the functions of the XPLL token? As I understand it, this is a native token, so I also want to clarify what needs to be done to issue your own token on your network?
Can you share us detail information regarding Simple Agreement for Future Token (SAFT) ,how is this agreement done and what are the terms and conditions?
Can you explain about what is ParallelChain? And I read that you have ParallelWallet to store XPLL token, can you explain what are the different with other ERC20 wallet, Is that mean we only can store XPLL only on ParallelWallet ?
Currently most of the existing projects are based on the blockchain network which in my personal opinion does not meet the necessary standards and has many limitations for the renovation that the market is going through. What are the characteristics that Digital Transaction meets to be considered a substitute for blockchain in this new generation? What functions does it fulfill? What is ParallelChain for? What are its characteristics and what is the mode of use?
Scalability, security and decentralization. Due to their technical and infrastructure limitations, blockchain platforms have had to commit to at least one of these facets to satisfy the rest; This is known as the Blockchain Trilemma. In how many modes can ParallelChain be configured? What are the innovative features that ParallelChain brings? How do you guarantee that there will be no forks or mining? What are the characteristics of this new project?
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