As August is coming to an end we can tell that definitely will remember it with incredible projects that visited SatoshiClub. And today we would like to tell you about the AMA session with our friends from Aleph.im. The AMA took place on August 28 and our guests were Jonathan Schemoul, founder of the aleph.im project and Claudio Pascariello, UX/UI designer.

The total reward pool was 1500$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg | Satoshi Club: Dear community, our guests are from @alephim. Welcome!

Irina K. | @satoshi_club: Hi everyone and welcome to another episode of our AMA series. Our guests today are @Jonnyjonnyjon and @claudio_101 . Welcome guys. Thanks for joining us 😊

Luis Merino | Satoshi Club: Hello! Welcome on board, nice to have you all here 🙂

Claudio_101 [AlephIM]: Hi everybody!

Moshe Malawach [AlephIM]: Hello Satoshi Club! Happy to be here! 🙂

Irina K. | @satoshi_club: And @LuisMe7 that will help us moderate the AMA 😊 @Jonnyjonnyjon @claudio_101 please tell us a few words about yourself and the story behind AlephIM, how did it all get started?

Moshe Malawach [AlephIM]: I am Jonathan Schemoul, alias Moshe Malawach, founder of the aleph.im project.

Before aleph.im I was a freelance developer and electronic engineer, designing software for big banks, hardware for startups. While starting to work on blockchain applications I realized there was a missing link, a missing part of the ecosystem: an infrastructure layer between the user and the blockchains, that would be decentralized and allowing to build way bigger dApps: aleph.im was born.

Claudio_101 [AlephIM]: I’m a UX/UI designer and have a small agency with my partner. Worked for several banks and other design agencies on brandings. Now working full time on Aleph with Moshe

Irina K. | @satoshi_club: Sounds interesting. What kind of hardware?

Moshe Malawach [AlephIM]: Board with small micro controllers, used for examples in device for in store engagement. Like when you open a perfume box, a video starts on a screen, information sent wirelessly (this particular example from my older clients will get updated to send information to the aleph.im network in the future by the way!)

Irina K. | @satoshi_club: Was it prototyping? Or the devices were used for real?

Moshe Malawach [AlephIM]: The devices were used for real… there are thousands of stores worldwide of very big brands with devices I designed. Also other things, on the industrial and IoT aspects, also in production

Irina K. | @satoshi_club: Solid. Thanks for sharing. In the first part we have questions from the community collected via our platform. Since the introductions are ready, I propose to jump to Q1. What do you say @Jonnyjonnyjon @claudio_101?

Claudio_101 [AlephIM]: Perfect!

Moshe Malawach [AlephIM]: Let’s go! 🙂

Luis Merino | Satoshi Club: Let’s go with part 1!

Q1 from bitcointalk user pedronino

What is MyAleph beta? How exactly are you replacing the centralized cloud systems?

Moshe Malawach [AlephIM]: MyAleph beta is a personal storage dApp, allowing a user to replace let’s say Google Drive and Evernote… It uses the aleph.im network as a storage medium, for both files and database. It’s also fully encrypted end to end. It means that the data of the user isn’t owned by a single company, and that he has full control over it. Link to this dApp: my-beta.aleph.im

Irina K. | @satoshi_club: Can you elaborate how can the user control his/ her data?

Luis Merino | Satoshi Club: Sounds good!

Moshe Malawach [AlephIM]: It’s posted by the user, on a decentralized network (aleph.im), the user encrypts it client side and decrypts it when needed, no one else has access to this data unless it’s specifically made public.The cool part is that it’s using the address key pair of the user: with his ethereum, nuls or neo address

Irina K. | @satoshi_club: I assume it will run on mobile devices as well @claudio_101? Does it use any gas when storing data on the network?

Claudio_101 [AlephIM]: That’s the whole Idea. Now it’s only a beta with minimum UX requirements. But we will start on real production ready interface after we launch the new website. In the following weeks. The mobile app btw is also planned 😉

Irina K. | @satoshi_club: Good news. It’s a must these days 😊

Moshe Malawach [AlephIM]: no, none… you can try it yourself right now with an account that holds nothing, it will work! all actions are instant too

Irina K. | @satoshi_club: So you expect it to be fully operational within the following weeks?

Moshe Malawach [AlephIM]: It is fully operational, just not feature complete 🙂 I expect a feature complete version this year or start of next year (we want quite a lot of features!) Release early, release often is our moto

Irina K. | @satoshi_club: Full speed ahead

Luis Merino | Satoshi Club: Don’t you have an approximate date for it’s complete launch?

Moshe Malawach [AlephIM]: I consider it already launched 🙂 As for the mobile app I’d say around November. Full synchronisation of folders November-December. MyAleph is just one of the dApps of the network

Claudio_101 [AlephIM]: Most people think that we still have to start on things but we have a working product. MVP but working

Q2 from bitcointalk user jpsarma

In your Development roadmap, you have mentioned about Specialized and hybrid nodes in Q3-Q4 this year. Why do you require 2 types of nodes and how will these nodes work?

Moshe Malawach [AlephIM]: Specialized means only storage, or only database or only computing for example. Hybrid means that they do multiple actions at the same time. It will be concurrent with Sharding (nodes that are on one channel only). Let’s say you have a bunch of nodes for file storage, another bunch dedicated to be dartabase API endpoints for your dApp channel. This channel will kinda live on it own, with no noisy neighbors

Luis Merino | Satoshi Club: So hybrid one is more complete

Moshe Malawach [AlephIM]: Yes 🙂

Irina K. | @satoshi_club: Like Google Drive + Evernote, right?:blush: Not 2 separate services?

Moshe Malawach [AlephIM]: Actually on MyAleph it’s one dApp in its own channel, all features of that dApp are on that channel. But let’s imagine you have a very big trading DEX sending data, hundred of thousands of TX per day, you don’t want your dApp to be disturbed by that traffic and nodes handling your dApp won’t be full because of it. That’s the channel sharding. Hybrid nodes are interesting because some features can be only on some nodes of a channel, and channels can share nodes

Luis Merino | Satoshi Club: Like Uniswap, for example

Moshe Malawach [AlephIM]: yeah or our partners Serum, Jarvis or Orion 🙂

Q3 from Telegram user @bitociok

You say that you “are dedicated to provide secure storage and computing to dApps on all blockchains.”
Is the storage on blockchain? right now it’s impossible based on the current blockchain technologies. How about computing? How can dapps get that?

Moshe Malawach [AlephIM]: The storage is on the aleph.im network itself. we store hashes on the blockchains. On computing, we are working on virtual machines based on docker like containers and web assembly. The idea is to provide serverless computing to dApps in the same way they would use “amazon lambda” or similar providers. While still getting blockchain-like security and audit of history (based on hash chains, per vm)

Irina K. | @satoshi_club: It is centralized, right? I mean the data is stored on centralized mediums, right? Hashes – on the chain

Moshe Malawach [AlephIM]: The network is a decentralized network, so it’s decentralized 🙂

Irina K. | @satoshi_club: If I upload a movie/ video, where will it be stored?

Moshe Malawach [AlephIM]: it will be chunked, and chunks will end up on multiple nodes of the network, if it’s encrypted, only you and people you share it with will be able to put it back together correctly

Irina K. | @satoshi_club: Oh, got it. Like a torrent, right?

Moshe Malawach [AlephIM]: yeah somehow 🙂

Irina K. | @satoshi_club: Got it 😊So just to summarize, everything happens on the blockchain 😊All parts involved in the process

Moshe Malawach [AlephIM]: Not really, hashes are stored on the blockchain

• 

We store data on the network (compatible with IPFS if needed) and store hashes of message lists on the blockchains. All messages are to be signed by an address of one of the supported blockchain

Irina K. | @satoshi_club: visual does the trick. Thank you

Q4 from Telegram user @Aleurich

How do you control the total supply if Aleph has many chains? Do you have the same number of tokens in each chain?

Moshe Malawach [AlephIM]: We have the same number of tokens on each chain. Tokens that are on another chain are locked in each chain.

Irina K. | @satoshi_club: That’s interesting. Could you elaborate? How does this happen?

Moshe Malawach [AlephIM]: This way we have our total supply of 500M tokens (1B original total, 500M burnt). there are pools for cross chain tokens. When a token is swapped from another chain it moves from that pool to the target address. And when you swap to another chain, you basically send your token with an information on the destination to that pool on the origin chain

Irina K. | @satoshi_club: Are there other projects that use this approach?

Moshe Malawach [AlephIM]: A lot yes… It’s either this or mint/burn on each chain to do it. The risk with the mint/burn way is that you can end up with an infinite supply if something goes wrong. This is why we’ve chosen the cross-chain pool and total supply on all chains approach

Q5 from Telegram username @nyo_cant

A few weeks ago, ALEPH max supply was reduced from 1,000M to 500M, which is a huge decrease indeed. What where the main reasons behind that reduction and what consequences will this have short-/medium-term? Will this be the final max supply or there are any odds that supply may change again?

Claudio_101 [AlephIM]: As we are self funded and didn’t do an ICO it wasn’t necessary to have this amount of tokens anymore. So we burnt te amount that we put aside for seed rounds and an ico

Moshe Malawach [AlephIM]: (ICO or private sale or any kind of sale…)

Irina K. | @satoshi_club: Why did you decide that you don’t need a public sale of any type anymore?

Moshe Malawach [AlephIM]:

• 

Here is our new token distribution

It was the bear market, we had people with the token from staking on NULS or from an airdrop. We realized all VC or sales we could have done weren’t good deals for our holders or for the project. So we decided to go ahead like we were.
After all, we were self funded for a year and a half already 🙂 Also, with dApps live and companies building on the product, they needed tokens. So a small uniswap pool was a good way to get some tokens in their hand

Serg | Satoshi Club: yes, I’ve noticed more and more projects which decide not to go with a public/private sale. this is good for the tokenomics

Luis Merino | Satoshi Club: That was a great decision

Serg | Satoshi Club: uniswap changed everything in crypto in the last year 😀 uniswap is everywhere

Moshe Malawach [AlephIM]: To be honest, I didn’t realize what I was starting doing this :sweat_smile:

Irina K. | @satoshi_club: So finance-wise the project is sustainable, right?

Moshe Malawach [AlephIM]: Yes, completely sustainable now 🙂 We have funding for a while

Serg | Satoshi Club: how big is your team btw? what expenses do you have?

Moshe Malawach [AlephIM]: We are more than 20, but most have day jobs (I didn’t, always been full time even self funded!). We have grown from a self funded opensource project to a bigger project with a funding. A lot of team members are now transitionning to full time.

Luis Merino | Satoshi Club: So that means less expenses for the team. That’s nice

Moshe Malawach [AlephIM]: We try to keep our expenses as lean as possible. We want to have funding to keep us afloat for a few years in case a bear market was to restart (which I don’t think, but I have no crystal ball)

Serg | Satoshi Club: the question about bear market is not if but when 🙂 it always come after a bull market

Luis Merino | Satoshi Club: That’s like the market works…

Moshe Malawach [AlephIM]: A few of our key team members by the way

Luis Merino | Satoshi Club: Such a great and experienced team

Moshe Malawach [AlephIM]: (from the excellent blockfyre report!)

Irina K. | @satoshi_club: Nice. You have photos :blush: It has become trendy for the projects to go anonymous with the team. Seen a few projects like this lately

Serg | Satoshi Club: aren’t you anonymous, Irina? 😁

Irina K. | @satoshi_club: Nope 😊

Moshe Malawach [AlephIM]: She is a real life Jedi master! :stuck_out_tongue:

Irina K. | @satoshi_club: I’m just shy

Serg | Satoshi Club: shall the force be with you )))

Irina K. | @satoshi_club: Words are my sword 😊Beware, mortals 😊

Serg | Satoshi Club: sharp words/sword 😁

Q6 from Telegram user @clara_eriksen

How many blockchains do you support and what is the reason someone might need access to several blockchains simultaneously, especially if the blockchain is fast and cheap

Moshe Malawach [AlephIM]: We currently support four blockchains, NULS, Ethereum, Neo and Binance Chain…
As for the reason why, composability is key in the decentralized finance, and in the real world too. You need to be able to be interoperable.We want dApp developers from all blockchains to use our network. Also, actions are instant and fee less on aleph.im, so we don’t really care if the underlying chain is fast and cheap. We want it to be the most adopted one.

Claudio_101 [AlephIM]: As a dApp developer on Aleph you will have access to not one but all connected blockchain. While if you develop on one specific chain you will only get the userbase of that chain. Other chain users wont be able to use your dApp.

Serg | Satoshi Club: can I build one dapp on 2 blockchains simultaneously? and can it function on both of them simultaneously? I am not really a dev, not sure if this makes sense 😁

Moshe Malawach [AlephIM]: if you use smart contract, you’ll need to have the same features on both, but why not, and aleph.im will support both… if you build your dApp on aleph.im itself, you’ll accept users from all connected chains with no specific effort

Part 2 — live questions from the Telegram community

Q1 from Telegram user Likkaa Azzahra

What does Aleph.im think about solving issues that the DeFi ecosystem still can’t solve? and why that is the problem important?

Moshe Malawach [AlephIM]: We want to decentralize the last mile of DeFI: most decentralized finance applications still have some centralized parts, like order books, matching engines, databases… We offer those project to help them and decentralize this as well, so their product is trully trustless and decentralized

Q2 from Telegram user @thebastaboy

During the COVID-19, many projects were strongly affected. What strategies did Aleph.im have to conduct the negative impact of COVID-19?

Claudio_101 [AlephIM]: I will take the less technical questions like this one. As we are an open source project and everybody is working from their own safe place. We were not affected by this. Communication went just forward as usual using chats or video calls

Q3 from Telegram user @yzmoney

How did you get so many good partners like orion, serum, BCDiploma , defipie ,jarvis network? how are they complementing to the success of Aleph ?

Moshe Malawach [AlephIM]: They needed to decentralized parts of their infrastructure, and benefit from our decentralized database solution mostly. Also, some of these projects plan to go cross chain, and using only ethereum smart contract isn’t possible when you want to access users of other chains. Moving their data storage and logic on aleph.im gets them access to more chains.

Q4 from Telegram user @nayanankit

It seems that ALEPH shares a trait with ETH: it has no maximum supply. How can unlimited inflation benefit/harm ALEPH in the long term?

Moshe Malawach [AlephIM]: This has been changed with the last tokenomics updates. Our maximum supply is now 500M tokens.

Q5 from Telegram user @Daptika

Aleph.im already support four blockchain. Which is NULS, Ethereum, NEO and Binance chain. Any plan to add more Blockchain in future? What’s the benefits to access different Blockchain simultaneously?

Moshe Malawach [AlephIM]: We are working on ecosystems mostly right now. Supporting the address and signature structures of ecosystems grants us access to their whole user base. We are working currently on Tezos, Polkadot/Substrate and Cosmos ecosystems.
The benefit is that we can offer a service to developers and users of all chains, and adding support for those users to existing dApps and clients.

Q6 from Telegram user @imelruy

The price of the ALEPH token has been rising and bringing profits to investors. What are the major utilities of the token that should make investors hold the token for the long run?

Moshe Malawach [AlephIM]:

Here is a quick overview of the uses of our Token: Synchronization fees, processing power and storage payment. As a side note we will start staking and nodes incentives in the coming months as well.

Q7 from Telegram user @LleeKuanYew

What are your plans for the next 6 months? Can you share some next major events of ALEPH project? Which developments we can expect from ALEPH project in next years?

Claudio_101 [AlephIM]: We will be working on several things. First of all the aleph nodes they will launch Q3/Q4. Making sure to deliver on the partner project from Phantasma, Jarvis, Orion, Serum, … Some will use the same tech others need extra development from both side. Another issue is that our website is very basic and hope to finish the following weeks with a better one where we explain better who we are, what we do and what we will deliver in the future.

Q8 from Telegram user @imelruy

Can the confirmation times on the blockchain be extended for maximum security when “Aleph.im” messages are processed by the network? What are the factors affecting approval times?

Moshe Malawach [AlephIM]: For maximum security, for virtual machines typically, you’ll be able to chose a specific chain to be the source of “truth” on message ordering for that virtual machine. One the message is commited on chain, no way to change the messages orders. Until then, sync nodes could in theory change message orders.

Here is the typical message processing workflow so you understand timing involved

Q9 from Telegram user @hassokor

The comission rate while staking Aleph is 99%!! And how is the schedule of this reward program and what is the minimal amount of Aleph to stake? How it be profitable?

Claudio_101 [AlephIM]: You are refering to the pocm staking from NULS. In the future this will likely not continue. We will focus and incentivise on the liquidity pools and our own nodes but for now we will keep the pocm nodes as it is a great platform.

https://medium.com/aleph-im/aleph-im-tokenomics-update-2-supply-halving-and-staking-updates-c0378e2f2b54

Q10 from Telegram user @Agz18

How can I integrate my Dapps to Aleph.im database to get full service of Aleph.im service providing security to my dapps!?

Moshe Malawach [AlephIM]: You can use the Javascript API with the documentation available here https://aleph-im.github.io/aleph-js/guide/getting-started.html and just add calls to it to read and write on the database with your users credential/web3 provider on the browser 🙂

Q11 from Telegram user X Sang [Originatecoin Ambassador]

The crypto world is becoming overcrowded with blockchain projects and tokens, what makes ALEPH different from other projects?

Claudio_101 [AlephIM]: That’s the reason we didn’t build yet another blockchain but chose to connect existing ones and decentralize that part that most of them are still working on, storage, computing and DID

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Aleph.im. They’ve prepared 4 questions for this part. The total reward pool for quiz was 900$.

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Aleph.im Community: https://t.me/alephim

We are pleased to announce our next AMA with Ramp DeFi

English group: 02:00 PM UTC Time, 31th of August
Russian group: 02:00 PM UTC Time, 02th of September
Spanish group: 02:00 PM UTC Time, 03th of September

⚠️Click to see the hour
⚠️Total Reward pool: $700 (ENG:$500, RUS: $100, ESP:$100)

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Ramp DeFi Telegram Group
👉 Follow Ramp Defi Twitter

We will have the following structure:

Part 1: 100$/6 users – We’ll select 12 questions from the community. A user can post maximum 3 questions in english, russian and spanish. 5 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 100$/5 users – Open chat for 80 seconds. You can post Max 5 questions. Ramp Defi Team will select 15 questions and answer them.

Part 3: 300$ – A quiz about Ramp DeFi

For more details:
Ramp – @rampdefiofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

”The Internet of Things is not a concept; it is a network, the true technology-enabled Network of all networks.” – Edewede Oriwoh said. SatoshiClub agrees with his words and wants to introduce you to the IOT much closer. And today we would like to tell you about the AMA session with our friends from IoTeX. The AMA took place on August 25 and our guest was Larry Pang, a Founding Member and Head of Business Development at IoTeX.

The total reward pool was 600$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg | Satoshi Club: Hello, dear community. Our guests today are from @IoTeXGroup. Welcome!

Irina K. | @satoshi_club: Hi everyone 😊

Larry Pang: thanks guys, it’s a pleasure to be here

Irina K. | @satoshi_club: How is your day :blush:?

Serg | Satoshi Club: Please tell us a bit about yourself and about the project

Larry Pang: i love how active your community is! been peeking into some discussions here, very educated group 😉

Hi everyone, my name is Larry and I’m a Founding Member and Head of Business Development at IoTeX. I graduated from MIT in 2013 and spent five years as a Management Consultant at Oliver Wyman before joining IoTeX. I got into crypto after doing a consulting project in 2016 with the World Economic Forum on global payments and learned about Bitcoin. I was fascinated by how the financial world could be designed to be P2P and human-owned — when I learned about IoTeX, I had a similar realization that the Internet of Things (IoT) aka our smart devices can also be trusted, private, and human-owned. After two years at IoTeX, my belief in our vision has only grown!

LinkedIn: https://www.linkedin.com/in/larry-pang/

Twitter: https://twitter.com/larrypang

so that’s a little about me! feel free to add me on LinkedIn and follow me on Twitter. would love to share a bit about IoTeX now: IoTeX began our journey in 2017 as an open-source project. IoTeX is a platform that was built 100% from scratch (no forks) and is tailor fit to support Internet of Things (IoT) use cases and to power the next-generation of human-centered and private smart devices. The IoTeX team consists of 30+ top tier engineers and scientists from Uber, Google, Intel, Facebook, and other top tech companies.

IoTeX has a vision for the Internet of Trusted Things — an open ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. Our platform uniquely combines blockchain, secure hardware, and confidential computing to enable trusted data from trusted devices for use in trusted applications.

Serg | Satoshi Club: It sounds cool, Larry 🙂

Larry Pang:

• 

that’s a brief intro to IoTeX — would love to dive in more throughout the AMA!

Irina K. | @satoshi_club: Already convinced me 😃

Q1 from bitcointalk user JonahAp

How does the Roll-DPOS consensus mechanism work and what is it’s difference from other consensus mechanisms?

Larry Pang: good question — a robust consensus mechanism is very important for a growing network

The IoTeX Network utilizes Roll-DPoS consensus, which we designed completely in-house. To support the high scalability required for IoT use cases, IoTeX decided to use a variant of the Delegated Proof of Stake (DPoS) design, but we also made significant improvements to traditional DPoS. Instead of a fixed number of Delegates (e.g., EOS has 21 block producers), IoTeX randomly selects 24 of the top 36 Delegates to mine blocks every hour. This randomness improves the decentralization and security of the overall network, without affecting the performance. Roll-DPoS enables IoTeX to be one of the fastest blockchains in the entire industry with 5-second block times and instant finality for transactions.

for the techies out there – here is a detailed Roll-DPoS yellow paper regarding our consensus design: https://res.cloudinary.com/dokc3pa1x/image/upload/v1559623484/Research Paper/Academic_Paper_Yellow_Paper.pdf

TLDR; Roll-DPoS is IoTeX’s in-house consensus mechanism that enables 5 second block times with instant finality. Lightnight fast!! ⚡

Serg | Satoshi Club: It means that 8 remain without rewards?

Larry Pang: basically every hour, 24 of the top 36 delegates (voted by the community) are randomly selected to produce blocks — there are different categories of rewards, more details can be found here: https://docs.google.com/presentation/d/1SvbsdfTofVccCULDkm97ZJniodwKzcEIDzKxD-O9ap4/edit

Serg | Satoshi Club: Thanks for the clarification. How much is distributed for the delegates? On average

Larry Pang: for normal staking, delegates will receive about 10% ROI and they share these rewards with their voters. as a staker in the IoTeX network, you can earn %8+ ROI by staking and voting for a delegate!
check out here for more detailed staking returns: https://www.stakingrewards.com/asset/iotex

Q2 from bitcointalk user george.bend

What was the reason behind creating Ucam? Also, who processes the information of my video call? where is it stored

Larry Pang: great question! for those that do not know about Ucam already, let me share a bit about it
https://ucam.iotex.io

IoTeX recently launched our first “Powered by IoTeX” product called Ucam, which was built in partnership with Tenvis, a major security camera camera manufacturer. Tenvis was founded in 2005 and has sold millions of cameras to governments, enterprises, and consumers — they are currently “Amazon’s Choice” for security cameras, but came to IoTeX to bring privacy to their users. Check out their previous product on Amazon, which has sold millions of units! Ucam is the world’s first absolutely private home security camera that lets you own your data. This year at CES, the world’s largest tech conference, Ucam won the CES Innovation Award for Cybersecurity & Privacy. Ucam uses blockchain-based identity and the encryption keys are generated using the IoTeX blockchain in a decentralized fashion to make sure only the user has a copy of the encryption key for full privacy. With Ucam, nobody can access your device or data except you, or people authorized by you. We have many exciting plans for Ucam — we are currently working with IPFS to add decentralized storage to the camera and are also planning to launch other form factors of Ucam, such as doorbell + outdoor camera. The great thing about Ucam is the firmware/software that IoTeX developed can be used on almost any camera, so we are actively exploring new types of cameras to power with IoTeX — Ucam is just one of many “Powered by IoTeX” products in the future!

Serg | Satoshi Club: How exactly are you bringing privacy to users? 🙂

Also, do you think it’s possible to give some cameras for the community?
Maybe we can make a contest after the AMA

Larry Pang: good question serg — with Ucam and other “Powered by IoTeX” devices, we use decentralized identity + blockchain technology to ensure data is end-to-end encrypted and only decryptable with the user’s private key. similar concept as using a blockchain wallet to protect your cryptocurrency, but we apply it to our data as well! a very sophisticated tech stake makes this all happen combining software, hardware, and firmware :+1:

yeah we would love to give some cameras away to the Satoshi Club community! let’s follow up after the AMA serg

Serg | Satoshi Club: Awesome 🤩

Larry Pang: Ucam is going to hit Amazon US and other global retailers in Q3 2020 — the world’s first blockchain-powered consumer IoT product is almost here!

don’t just take my word that it is an awesome device — you can see Newsweek’s review of Ucam here: https://www.newsweek.com/new-iotex-ucam-looks-provide-unrivaled-privacy-security-1517040

and also you can check out this unboxing video + tutorial that i made: https://www.youtube.com/watch?v=sErLTqYXj8g

Serg | Satoshi Club: I will definitely try this camera 🙂

Q3 from Telegram user @ibramladen

Satoshi Nakamoto said: Don’t trust, verify!
Your slogan is: Internet of Trusted Things
Why should I trust? Please explain me the reasons

Larry Pang: good question! answering the reason why the Internet of Trusted Things is needed also requires some basic understanding of the traditional Internet of Things (IoT): These days, all types of smart devices like cameras, thermostats, and virtual assistants are being installed in our homes and businesses at a blistering rate. Even traditionally “dumb” devices, such as beds, mirrors, and toilets, are now equipped with WiFi and powerful sensors to make them “smart” — this phenomenon is called the Internet of Things (IoT). Whether you know it or not, IoT is part of everyone’s lives and allows people to interact with machines to drive efficiencies and create value. However, today’s IoT is owned and controlled by institutions (e.g., tech giants, governments) and not users (aka you and me). All of our highly sensitive IoT data, such as the videos from our home cameras or our health data, are owned by institutions and manipulated without our consent. Do we really have to accept a future where we are surveilled by institutions that collect our data, make our homes targets for hackers, and manipulate even the way we behave? No — we can build a better future with IoTeX!

This is why we need the Internet of Trusted Things — IoTeX’s goal is to enable a future that is connected, empowering and safe — no intrusive ads and surveillance, just privacy and peace of mind without sacrificing usability. The IoTeX platform enables builders to easily launch privacy-preserving IoT devices, apps, and networks. Just like Bitcoin has created a decentralized financial ecosystem, IoTeX is empowering a decentralized ecosystem for our smart devices — the Internet of Trusted Things.

Serg | Satoshi Club: Btw, do you also make the devices more secure? I mean that those devices can be hacked and someone can get access to your home basically

Larry Pang: yes definitely — not only do we enable privacy for devices but we also apply blockchain’s ultra-high security to the devices as well. that is why IoTeX is so important for the future of our smart devices — we put users in control of their devices and data instead of relying on corporations like Amazon/Google who have historically abused our data and trust. with IoTeX, we can prevent the centralized attacks that are everywhere these days like these Amazon Ring camera hacks that show the shortcomings of traditional devices: https://www.vox.com/recode/2020/2/28/21137692/tech-amazon-ring-hacks-security-blame

Serg | Satoshi Club: That’s awesome 🙂

Larry Pang: if you are in the market for a home security camera, then Ucam is a no-brainer! but it’s important to understand that IoTeX is NOT a camera company — the technology we built into Ucam can be applied to ANY IoT device, whether it is an asset tracker, healthcare device, autonomous vehicle, and more! the world now has 20 billion IoT devices and this number will grow to 75 billion by 2025. IoTeX plans to be a key player in the IoT industry and capture many of these devices to make them private and secure! the most exciting part is once users own their data, they can choose to do whatever they want with it — keep it absolutely private, share it with others in a secure P2P fashion, or eventually sell/trade it on IoT data marketplaces (something we call #DeFIoT) IoTeX is unlocking the potential of IoT data!

Q4 from Telegram user @cryptocivilizations

You released IoTeX Mainnet GA which goal is to enable the interaction between humans and the machines. What were the main reasons to switch from Ethereum? What advantages did it bring to you?

Larry Pang: good question! IoTeX is a native blockchain now, but we started as a hybrid network between Ethereum + IoTeX blockchains. we issued our ERC20 token (IOTX-E) in 2018 and then launched our native network in April 2019. then we started to migrate away from ethereum throughout 2019+2020, and finally in june 2020 we launched our Mainnet GA, which made IoTeX a completely native network! that means the network uses $IOTX as the native coin and all smart contracts / transactions are all on IoTeX. IoTeX has always had the vision to be a fully native network, as the requirements for IoT use cases using blockchain are fundamentally different than other general purpose platforms.

• 

this philisophy is not just talk — we have built it into our platform at every layer. IoTeX is much more than just a blockchain, we also have robust IoT middleware and dev tools that make creating trusted devices easy for developers. the platform consists of multiple layers to bring privacy-IoT use cases to life. something that ethereum or any other blockchain out there cannot do. TLDR; we respect ethereum and what they have done for the industry, but for IoTeX’s vision for the future of smart devices, ethereum is not designed for it. IoTeX is!

Serg | Satoshi Club: Yes, it’s always better to have your own blockchain than depending on others 🙂

Irina K. | @satoshi_club: IOT on blockchain will rock

Larry Pang: for those that want to learn more about the platform, you can read the “core concepts” section of our developer documentation: http://docs.iotex.io/

Q5 from Telegram user @Jonahapagu

Internet of Things generate huge amounts of data some of which are private data how does IOTEX ensure the security and privacy of this data?

Larry Pang: that’s a great question — let me explain the IoTeX tech stack that makes this all possible

• 

Device Layer: IoTeX is all about generating trusted data from trusted devices to enable trusted applications. A critical piece of this is the device layer. To trust a device, it must have a decentralized identity and its actions must be verifiable by others, which is exactly what IoTeX enables by combining secure hardware and blockchain, which are both tamper-proof technologies.

Storage Layer: IoT devices generate a lot of data, and not all of that can be stored on the blockchain due to cost/scalability reasons. But today, more and more data validation and processing is performed “on the edge” or on the device itself, reducing the need to store large amounts of unfiltered data on servers. A scalable and flexible approach is to store/index pre-processed data on the IoT Cloud (e.g., AWS) or decentralized storage (e.g., IPFS, Sia) and “hash” them to the blockchain, which provides timestamped verifiability and data provenance. When needed, this data can be written to the blockchain for use in smart contracts!

Blockchain Layer: the root of trust for the entire IoTeX Network. Our blockchain is open source and one of the fastest in the entire industry — not only does it enable standard P2P transactions and smart contracts, but it is also used to register device identities and “hash” data (stored on Cloud/decentralized storage) to the blockchain.

the combination of these three layers provides great flexibility for developers and builders. for more information, please see our Blockchain & IoT Reference Architecture: https://iotex.io/reference-architecture

Irina K. | @satoshi_club: Does this mean that it will work only with a pre-approved set of devices?

Larry Pang: yes the devices require custom firmware that basically points the data to the blockchain instead of to a centralized server (as is the case with most devices these days). IoTeX is working on SDKs / toolkits to allow hardware device manufacturers to very easily onboard their devices to the IoTeX network.

for example, we are also working with Nordic Semiconductor, a billion dollar chip manufacturer company, to build Pebble Tracker: https://www.nordicsemi.com/News/2020/02/IoTeXs-Cellular-IoT-based-tracker-delivers-environmental-and-condition-data-for-assets-in-transit

Pebble Tracker is more of a developer-oriented device that tracks environment data such as GPS location, temperature, humidity, pressure, motion/vibration, and light and writes all of this data securely to the blockchain. this partnership with Nordic will bring trusted data to the blockchain so that developers can design new business/incentive models and companies using this trusted data!

Serg | Satoshi Club: You guys are doing very important things. The future looks bright for you if you will keep this good work

Larry Pang: definitely — we are just getting started, we are now looking into other types of smart home devices and also healthcare devices, which i am really excited about. nothing is as sensitive as the data captured by healthcare devices, and we want to make that data 100% owned by users. check out this podcast with HealthBlocks, one of our healthcare partners from the netherlands, for more details on the healthcare + IoT + blockchain space: https://www.youtube.com/watch?v=KV2WpjmI3S8

Q6 from Telegram username @Aleurich

Smart products (with internet access) are usually more expensive than traditional ones. How would IoTeX solve this problem with your products? Would this project be directed only to people in high society?

Larry Pang: having smart devices may seem like a luxury right now, but soon the world will be covered in smart devices in our homes, businesses, vehicles, cities, nature, etc. — our vision for the Internet of Trusted Things is about providing affordable and privacy-focused options for consumers to experience privacy and data ownership for the first time. for example, while most security cameras like Nest/Ring cost upwards of $150, the IoTeX Ucam is only ~$45, which is honestly a steal for such a great camera with guaranteed privacy.

• 

if you think about an IoT device, regardless of what industry it is used in (healthcare, supply chain, smart home, etc.) — the anatomy of IoT devices are generally the same. we apply our technology to fit ALL IoT devices, not just the fancy and expensive ones. in the future we wan to equip users with great technology at an affordable price. the truth is, hardware is a difficult industry to break into — you really need partners that understand not only their industry/market but also have resources for manufacturing and distribution. so we are very selective about which partners (like Tenvis) that we work with, and having our partners share the same vision for affordability, great user experience, AND privacy is something we consider before working with any companies.

TLDR; IoTeX is launching affordable, feature-packed, and private smart devices for people around the world! starting with Ucam which is priced at <$50, you can buy Ucam right now at https://ucam.iotex.io and on Amazon US + other global retailers in september

Irina K. | @satoshi_club: Where is it based? Tenvis I mean?

Larry Pang: tenvis is based in shenzhen, the hardware capital of the world

for those that don’t know about shenzhen, i really enjoyed this video explaining what is going on there: https://www.youtube.com/watch?v=SGJ5cZnoodY

Irina K. | @satoshi_club: I saw it. It’s very impressive

Larry Pang: it is the “silicon valley” of hardware — IoTeX is based in the real Silicon Valley, so this is a marriage of the “Silicon Valleys” of hardware + software! 😊

Serg | Satoshi Club: Ready for the live questions part? 🙂

Larry Pang: let’s do it!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nickkiii

I’m interested in contributing to IoTex, Do you have any Global Ambassador Program, if yes, how do I apply ?

Larry Pang: love it!!! glad to hear you are interested in becoming an IoTeX Ambassador!
IoTeX has a global ambassador program that is active now — anyone that is interested in becoming an IoTeX ambassador can PM me for more details 🙂

Q2 from Telegram user @tungvodoi206

Now that there will be IoTeX Cross-Chain DEX, will the team be running a liquidity pool staking campaign to encourage long term staking/awards, and encourage using the platform as first choice to buy/sell IoTeX coins?

Larry Pang: great question — yes IoTeX is launching #DeFIoT, which will be a toolkit to allow users to tokenize their data and trade it in a decentralized fashion. an important component of this will be our Cross-Chain DEX, which is coming very soon! there will be great liquidity mining opportunities where you can deposit both IoTeX (XRC20) and Ethereum (ERC20) assets and trade them. for those that are active in the DeFi space, you can use IoTeX’s uniswap-style DEX to trade/arbitrage with MUCH LOWER FEES than ethereum. more information coming soon!!

Q3 from Telegram user @Idee01

IoTeX got featured in Forbes. Also as one of the top 5 Altcoins with greatest potential for growth in 2020, alongside big names like Ethereum, Chainlink etc. What are your greatest strength that makes your project better than IOTA?

Larry Pang: we get this question a lot 🙂
Regarding IOTA, IoTeX and IOTA are not enemies. Yes we are both working in the blockchain+IoT space, but we are actually working on different things. IOTA prides itself on enabling feeless M2M payments, while IoTeX is building a network for privacy-preserving, human-centered smart devices. Rather than debate IOTA vs. IoTeX technology, what I will say is that IoTeX in only two years vs. five years for IOTA has done things that IOTA has not:
1) Launched a fully decentralized Mainnet with DPoS staking maintained by 60+ global Delegates, including Blockfolio, CoinGecko, DraperDragon, and more
2) Launched REAL IoT products like Ucam, the world’s first private security camera built in partnership with Tenvis and Pebble Tracker, a decentralized asset tracker built in partnership with Nordic Semiconductor.

Q4 from Telegram user @Fumun

Why the name of project is IoTeX, what is story behind this name?

Larry Pang: nice question! IoTeX = IoT (Internet of Things) + ex (extension, expand, etc.)
basically we want to expand and extend the capabilities of the Internet of Things = IoTeX! :sunglasses:

Q5 from Telegram user @CryptoLover97

Staking is Most Popular Nowadays as it improves User Interest & Provides Long Term Growth to Projects ..
— Does IoTex Support Staking ??
— What are Requirements for Becoming a Validator Node ??

Larry Pang: IoTeX is one of the most robust staking networks our there — right now over 50% of the circulating supply is staked, and you can see all of our delegates at member.iotex.io
you can participate in one of two ways: either become a delegate (run a node) or vote for a delegate. delegates will earn rewards for running their node / producing blocks, which they share with their voters. so delegates can earn 10%+ ROI while voters see ~8% ROI — we highly recommend everyone to stake! we also have a special campaign going where you can earn up to 20% annualized returns, check it out: https://medium.com/@iotex/iotex-tokenomics-burn-drop-to-bootstrap-1-million-iotex-devices-66a43a1a68d7

Q6 from Telegram user @uamos

If IoTex is currently promoting a decentralized smart device system, what do you expect for the future? What is your biggest goal in 5 years?

Larry Pang:

• 

i like this question — IoTeX has HUGE goals for the next 5 years. as of today, IoTeX is already powering smart devices that allow users to own and control their data, but we have much greater long-term goals. our next steps are to enable privacy-preserving Dapps that leverage the trusted data and trusted devices that are running on IoTeX, and eventually form diverse human-machine economies that will power new decentralized ecosystems where humans and machines can interact with guaranteed trust, free will, and privacy. We are starting this process right now by launching our new developer grants program called Halo (https://iotex.io/halo) — check it out!

Q7 from Telegram user @jangrihwa

What is the utility of IoTeX ? What does determine the value/price for it, is there anything within your ecosystem that increases the demand for the IoTeX ?

Larry Pang: the $IOTX token is the lifeblood of the entire IoTeX Network — it is used for a variety of things including gas for txns/contracts, staking/voting for delegates and network upgrades, and also to register new devices and service providers to the network. lots of detail to explore, which you can start here to learn more about our tokenomics + utility of IOTX: https://medium.com/@iotex/iotex-tokenomics-part-1-utility-of-the-iotx-token-781ff9c866e3

Q8 from Telegram user @regard94

What have been the major difficulties down the road so far in the development of IoTeX? What has been the leading motivation to continue?

Larry Pang: lots of projects only talk about the good things, not many talk about the hard things. building new technology is hard, but IoTeX is even more complex than normal blockchain networks due to the integration of hardware as well. i think we have moved incredibly fast over the past two years, but it has not been easy to develop this first-of-its-kind technology. lots of trial and error, working with partners (some of which did not end up being the right partners) but through all of this we have overcame all obstacles and are now ready to launch the world’s first blockchain-powered IoT products!!
the journey is not over, but our ability to build these amazing products gives us confidence that we can conquer even more of the IoT industry.

Q9 from Telegram user @Babulal1

In the future, what are your goals? What do you do to develop the platform and marketing for the project better?

Larry Pang: Our main goal for the rest of the year is to welcome the world to build amazing things on the IoTeX platform. With Mainnet GA, the IoTeX platform is now ready to support a wide variety of use cases across blockchain, IoT, and privacy. Our goal is to build our ecosystem of builders and contributors that will bring great network effects to IoTeX — we are starting this process right now by launching our new developer grants program called Halo (https://iotex.io/halo).
In parallel, the IoTeX Foundation will continue to build infrastructure that makes it easier for people to build on IoTeX, as well as launch new products to unlock more IoT-privacy capabilities for developers.

Q10 from Telegram user @Truongkhanh

Defi is one of hottest toppic in crypto right now so What role does IoTeX want to play in the DeFi space?

Larry Pang: let’s break this down a bit — Ucam and Pebble Tracker are #OwnYourData devices that are “Powered by IoTeX”. after you own your data, you have three things you can do: a) keep it fully private (using DID + private vault), b) use it in a privacy-preserving fashion (using confidential computing), or c) you can sell/trade it. #DeFIoT on IoTeX is all about building infrastructure to enable c).
specifically for Ucam, here is a thought exercise:
1) what do cameras capture? videos + photos
2) how can we make these digital assets tradable? tokenize them on IoTeX as NFTs (access/ownership of a dataset) or fungible tokens (fractional ownership of a dataset)
3) what new tools are required to make this happen? wait for our next announcement and see 🙂
just remember that finance is not just about trading/borrowing/lending tokens that have no intrinsic value, it can also be about trading/borrowing/lending tokens + other digital assets that have intrinsic value based on the IoT data it represents. “if data is the new gold, then our IoT devices are the goldmines”.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of IoTeX. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

IoTeX Community: https://t.me/IoTeXGroup

The financial revolution driven by crypto-currencies has advanced exponentially in recent months and the world is highly interested in this type of market that has come to remain. Today we would like to tell you about the AMA session with our friends from Akash Network. The AMA took place on August 23 and our guests were Greg Osuri (Founder & CEO) and Cheng (CFO).

The total reward pool was $2200 and it was splitted into three parts.

In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Irina K.| @Satoshi_Club: Hi everyone and welcome to another episode of our AMA series. Today we have as our guests @gosuri and @Chenghiskhan from Akash Network. Welcome guys and thanks for joining us. 😊

Cheng: Good morning! It is a pleasure to be here with you.

Greg Osuri | Akash : Hey everyone! Glad to be here.

Irina K.| @Satoshi_Club: For the beginning please share a few words about yourself and about Akash Network, how did you get to be involved in this project.

Greg Osuri | Akash: My contributions to cloud computing include designing multi-cloud capability for Kubernetes in 2015, which is currently in use by 80% of the Cloud. With economics, I gained notoriety in academic circles with my paper on Bootstrapping markets by borrowing from the future for which I’m invited to teach a Stanford class.

I got started with Crypto in late 2015. Technical first and then economical. As a distributed systems engineer, the permissionless state synchronization component of blockchain was very attractive to me as I was actively involved in planetary scalable systems at that time. As an economist, the ability to test economic theory at a micro-level was fascinating.

Cheng: Good morning once again. I got officially involved back in March. I’m Cheng Wang, the CFO of Akash. My background is in traditional finance where I spent a good amount of time (7ish year of my time) in the investment banking industry. I moved to the crypto/blockchain world roughly 3 years ago and loving every second of it.

There are so many things that drew me to Akash, but I can distill it down to two primary factors: our team and our opportunity. The team is one of the best that I’ve had the pleasure of working with and the opportunity to build something truly useful and transformative is 🤤🔥.

Irina K. | @satoshi_club: You have a great carrer. Congrats.

Tell us a few words about Akash for our viewers. What is it and how did you get here?

Greg Osuri | Akash: Cloud infrastructure — the back bone of the Internet — is increasingly becoming centralized, controlled by an oligopoly of four companies (Amazon’s AWS, Google Cloud, Microsoft’s Azure and Alibaba).

The mission of Akash is to break this oligopoly using a decentralized network of computing clusters (data centers), and offering resources in a peer-to-peer marketplace to build resilient and unstoppable applications at 10X to 15X less than what you would pay in the market today. The cloud infrastructure market is projected to be $223-billion by 2023.

My love for free market and hate for oligopolies drove me to build Akash.

Irina K. | @satoshi_club: So you started with your heart 😊? Thank you for your introductions guys.

Q1 from Bitcointalk User Estrange18

There are already many projects in the storage or super-computer space like SONM, GOlem, Siacoin, Storj etc. What’s make AKASH different from them? Or what AKASh advantages in that ecosystem?

Greg Osuri | Akash: Great question. Akash Network focuses on general cloud computation and we are partnering with decentralized storage providers, such as [Storj](https://storj.io/)  and FileCoin.

Akash Network is positioned to be a Super-Cloud gateway for developers, ensuring seamless access to other strong projects out there, like NuCypher, DNS, and more.

Irina K. | @Satoshi_club: So the focus is on computing. Do you plan on covering other areas in the future? Like storage for example?

Greg Osuri | Akash: Thats right. Akash does not plan on offering storage but rather interoperate with other protocols. IMO, that’s a way better way for the future instead of everyone trying to do everything.

Greg Osuri | Akash: Also, to add to my answer on Golem etc. Other projects in the cloud infrastructure space, like Dfinity and Golem, they are both in the same industry as as Akash, *Infrastructure as a Service (IaaS)*, but our go-to-market is fundamentally different for the $202B industry. Golem and Dfinity’s market size is less than $300-million.

Golem has on-chain computing and is essentially a supercomputer, which requires supercomputer problems. The market size for that is relatively very small compared to ours, which is $202B. How many applications do you know require supercomputers to run? Dfinity focuses more on smart contracts. Their PoS improves the throughput of executions but there are limitations to smart contracts. We’ve been seeing Dfinity move closer towards Akash’s model, but haven’t looked too deeply at their source code.

Irina K. | @Satoshi_club: Could you tell us more about your go-to-market? Whom do you see as your regular user?

Greg Osuri | Akash: Our GTM is focused on users currently using the big Cloud. Any application that runs on AWS can run on Akash with very little switching cost. By switching to Akash, a developer can leverage the benefits on Decentralization without sacrificing performance. Our market focus is Big Data / ML but we’re seeing a ton of interest from DeFi applications, particularly Stateless and State-lite frontends.

Q2 from Bitcointalk User k.muller

Where are your servers located? How many servers for backup do you have? Does it function like for normal clouds of google, apple or is it decentralized?

Greg Osuri | Akash: Everywhere and nowhere. Akash’s servers are globally distributed. From large datacenters (Equinix, Packet, etc) to home computers like Akash Supermini (http://akash.network/supermini). Akash provides the same experience a normal cloud provides.

Irina K. | @Satoshi_club:

Would it run on mobile devices as well? Like phones?

Greg Osuri | Akash: Theoretically yes. Akash is a decentralized marketplace where if there is a buyer for mobile power computing, you can sell that to make money as provider. But I highly doubt if you can make any meaning for income as a mobile phone provider on Akash.Not too many web-scale applications can run well on a mobile phone.

Irina K. | @Satoshi_club: Understood. Thank you for the clarification.

Q3 from Telegram User @marccryptonic

You claim that your cloud services are 90% cheaper than the market. How did you come up with this number? What is the price of your competitors in the market and what is yours?

Cheng: So there are TWO primary mechanisms that help drive down the costs relative to traditional pricing. First, the Akash Network is tapping into latent supply that wouldn’t otherwise be available, which drives down costs by about 2-3x. Second, and more interestingly, is the Akash subsidy, which further drives down costs further (more than 10x). You can learn more about the Akash subsidy mechanics here: https://dcs.akash.network/spec/dcs-9

Irina K. | @Satoshi_club: Who’s covering this subsidy? Made through inflation. Nice move. Saw it now at the link.

Cheng: Great question. The subsidy is covered by Akash’s inflationary mechanism. You can think of this as borrowing from the future. https://akash.network/blog/bootstrapping-a-free-market-by-borrowing-from-the-future/

Irina K. | @Satoshi_club: Will this “subsidy” be a permanent feature? Or temporary, until you get enough market share?

Cheng: It is a temporary feature that will last approximately 80 years. 😎 The inflation will eventually subside at that point.

Q4 from Telegram User @phamtan310

What are the use cases of Akash Token? Do you have any plans to raise funds in the future? In what ways can users earn passive income from the Akash ecosystem?

Greg Osuri | Akash: The core for the native token AKT besides exchanging value is staking and governance. AKT introduces few economic innovations to the PoS ecosystem. First the notion of Take Income, meaning a consistent share of revenue from gross merchandise exchanged on the network. Second, AKT introduces a mechanism to organically adjust inflation to optimize price pressure, giving it relative stability value. More information is available on our economics whitepaper. https://akash-web-prod.s3.amazonaws.com/uploads/2020/03/akash-econ.pdf

Q5 from Telegram User @pandasbitcoins

I am very excited about your supermini. The computer is very powerful. I hope I can get one! Please tell us more about it. In partnership with what hardware company are you producing it. Or are you assembling it with custom pieces by yourself. Also, is it designed for mining as well?

Cheng: The Akash Supermini is a plug and earn device that allows anyone, even non-technical users, to become Akash Cloud Providers! The Akash Supermini is currently going through its prototyping paces in the lab and we are working with an amazing hardware team to bring it to the hands of Akashians. The Supermini is designed and built in the state of California.

Irina K. | @satoshi_club: Does it need any configuration? Or I can just plug it into any computer at my office and it would work? 😃

Cheng: Some very, very light configuration, so it is easily manageable through your mobile device. The Supermini is a computer itself, so there’s no need to plug it into a computer; it just has to be plugged into the wall and connected to the internet in your home or office.

Irina K. | @satoshi_club: Oh, got it. What will the price be?

Cheng: The first 300 units Superminis are currently sold out, which were priced at $975. Please stay tuned for further developments as we bring the Supermini to market! Join the Supermini waitlist to keep up with the latest: https://akash.network/supermini/

Q6 from Telegram User @endtimeprophet

I discovered from study your site that I can play my part as a VALIDATOR, SO what’s the requirements as well as benefits for becoming a VALIDATOR?

Greg Osuri | Akash: Akash is permission-less so any AKT holder can validate and participate in Governance. To validate Akash blockchain, all you need is a cloud grade computer and some tokens. As as validator your income streams are a) inflationary rewards from self-delegated tokens, b) commission on inflationary rewards from delegated tokens, c) commission on take income from delegated tokens.

For a complete overview of earning potential, please see this blog post https://akash.network/blog/the-earning-potential-of-akash-token.  And ofcourse Akash Economics whitepaper for more details.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.

Q1 from Telegram User @Nickkiii

I’m a developer, and I’m interested in contributing to Akash Network, Do you have any Bug Bounty to check for vulnerabilities on your platform?

Greg Osuri | Akash: Absolutely, we’ll be distributing 5% of Genesis tokens for Bounties, please see our site for more info https://akash.network/challenge/

Also, please ping me on @akashnw after this AMA and I can direct you accordingly.

Q2 from Telegram User @adityaaryah

Thank you so much for changing the world for the better and can’t wait to see where Akash Network goes. So proud of you guys. Is there anything we, your community and biggest fans, can do to help AKASH NETWORK continue to succeed?

Cheng: Thank you for your support, belief, and passion! You, our Akashians, can help support the Akash Network by engaging with each other, directly with Akash by participating in AMAs just like this one, and telling your network and friends about us. Follow our twitter (https://twitter.com/akashnet_)  and join our telegram (https://t.me/AkashNW)  to get started :). Seeing supportive messages like this fuels the Akashian team even more!

Q3 from Telegram User @Samerjamai

Hi team! Will there be any incentives for moving the apps from Amazon’s AWS, Google Cloud, or Microsoft Azure to Akash? How you gonna stimulate apps joining Akash? Thank you!

Cheng: There are two huge incentives. The first is price; it will be up to 10x cheaper to deploy on the Akash Cloud VS AWS, Google Cloud, or Microsoft Azure, etc, so the economic incentive is very strong and compelling. The second is Akash’s focus on developer experience; Akash developers and our CEO, Greg, are obsessed with making Akash super developer-friendly, so that everything from deploying on the Akash cloud to the Akash UX will be world class.

Q4 from Telegram User @bountyairdrop2k19

When we use the services at Paltofrm Akash. What are the payment methods?

Greg Osuri | Akash: Akash has a multi-currency settlement system. Users can settle using AKT or any of the white listed tokens, usually stable coins.

Q5 from Telegram User @TVT6VI

DEFI is the hottest trend today. Has Akash had or will there be updates in the roadmap related to Akash? Trust and security is very important in any business, what makes investors, customer and users safe secure with privacy when working with Akash? In addition to raised fund from token sell. Where does Akash benefit from?

Cheng: DeFi is certainly the hottest thing in crypto right now and the Akash Supercloud is perfectly positioned as the decentralized cloud for decentralized finance! In the spirit of true decentralization, the Akash Supercloud will enable DeFi projects to decouple from the big cloud providers like AWS, Azure, Google, etc., reducing their costs and moving towards true decentralization and community empowerment. There will certainly be updates coming in the near future related to DeFi and so much more.

Q6 from Telegram User @Daptika

There are so many projects that only exist for a moment “die on the road, traumatizing investors with new projects”. Question: how can the Akash Network project survive, continue to grow & in what ways do you convince investors that this project is very promising?

Greg Osuri | Akash: Anyone with an operational kubernetes cluster can become an Akash provider with very little friction (usually within 20 minutes). Please visit this link for a thorough guide. https://github.com/ovrclk/docs/blob/a3cfd9a792f1a5455d7b06df9fab7a25d1e276b7/providers/kube/README.md

Q7 from Telegram User @lv_nlv

Do you have some sort of staking available for the $AKT tokens and what are the benefits of it to the investors?

Cheng: Staking will be available for all AKT tokens! For all AKT token holders, staking and the rewards associated with staking will be available and central to the network. Furthermore, the AKT token has a novel, never-before-seen element in crypto that gives the AKT token true, intrinsic value made possible by a take income. See our previous blog post here to learn more (https://akash.network/blog/the-earning-potential-of-akash-token/).

Q8 from Telegram User @eylem201

What is meant by Hybrid Cloud of Akash Network? What are its main Objectives of Hybrid system?

Greg Osuri | Akash: A hybrid cloud allows users to leverage advantages different clouds bring in a federated experience. The biggest benefit users of hybrid cloud realize is “no vender lock-in,” which in turn is presented as a cost benefit.

Q9 from Telegram User @bitgraile

What was the biggest milestone Akash Network had so far? Thank you.

Greg Osuri | Akash: Our biggest milestone is having enormous success in multiple testnets. At peak we had over 1800 applications deployed across 160 providers, with more memory than the entire EOS mainnet.

Q10 from Telegram User @NickOxa

How will Akash Network overcome the threat of centralization in the decentralized cloud computing marketplace?

Greg Osuri | Akash: We believe the future holds an opportunity for more distribution of datacenters versus the contemporary model of hyperscale deployments. Better distribution means lower network latency, which means faster applications. More distribution also means more decentralization.

Q11 from Telegram User @Idee01

Akash project plans for 2020 are: Mainnet launch, Liquidity Campaign and Platform launch. Q3 is almost over. Should we expect them in Q4? Can you give us an update of progress made to make us rest assured all these goals will be achieved in 2020?

Cheng: Make sure to follow Akahs on Twitter, Telegram, and DEFINITELY the Unstoppable Blog for updates.

Our July update can be found here: https://akash.network/blog/the-unstoppable-update-july-2020/. Previous updates are also memorialized in older posts so you can look back to see everything that was done. Akash’s goals for 2020 is just as you stated: Mainnet launch, Liquidity, and Platform launch. Our entire team is very much committed to these 2020 milestones and will be keeping you updated with all of our socials and blogs.

Q12 from Telegram User @chrisluna

How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for the them to let them better understand about your project?

Greg Osuri | Akash: Yes, Akash has already attracted a large global audience and have a validator community encompassing North America, South America, Europe, and Asia Pacific. In the past two months we’ve added teams in China and Russia to support our large audiences there, and we’re continuing to expand support to additional global regions. Most of our critical content is available in Chinese and Russian as well. We’re excited to announce additional global expansions and support in the coming months.

…

Serg | Satoshi Club: Thank you for joining our AMArathon! 😁 It was great. I really liked your project and we will continue to share your updates. We will encourage our community to join your group for updates.

Irina K.| @Satoshi_Club: Yes, we are here for 2 hours and 17 minutes. Thank you @Chenghiskhan and @gosuri for your time!

Cheng: Thank you Irina. To your team, the entire Satoshi Club community!

Greg Osuri | Akash: Thank you Serg for inviting us to connect with your amazing group. We’re very excited to announce our Mainnet plans with you all next week. 🙂

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Akash Network. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 1300$ were distributed among winners.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

Akash Network: https://t.me/AkashNW

We are pleased to announce our next AMA on August 29th 2020 at 02:00 PM UTC Time: Satoshi Club x UniLayer

⚠️Click to see the hour
⚠️Total Reward pool: $600

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join UniLayer Telegram group

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. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. UniLayer Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about UniLayer

For more details:
UniLayer – @Unilayer
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on August 28th 2020 at 03:00 PM UTC Time: Satoshi Club x Aleph.im

⚠️Click to see the hour
⚠️Total Reward pool: 5000 ALEPH (≅1500$)

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Aleph.im Telegram group

We will have the following structure:

Part 1: 300$ /12 users – We’ll select 12 questions from the community. A user can post maximum 3 questions. 9 Questions will be selected from our website – please submit your questions in the comments section of this post. 3 Question will be selected from Bitcointalk thread.

Part 2: 300$/15 users – Open chat for 80 seconds. You can post Max 5 questions. Aleph.im Team will select 15 questions and answer them.

Part 3: 900$ – A quiz about Aleph.im

For more details:
Aleph.im – @alephim
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on August 28th 2020 at 12:00 PM UTC Time: Satoshi Club x Vesta Protocol

⚠️Click to see the hour
⚠️Total Reward pool: 500$

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Vesta Protocol Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Vesta Protocol Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Vesta Protocol

For more details:
Vesta Protocol – @vtp_network
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Precious gems are profoundly buried in the earth and can only be extracted at the expense of great labor. SatoshiClub does this work for you. And today we would like to tell you about the AMA session with our friends from RMPL. The AMA took place on August 19 and our guest was Carmela Donovan, Head of BD at RMPL.

The total reward pool was 2000$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg | Satoshi Club: Hello! Our guests today are from @RMPLTG . Welcome to Satoshi Club!

Irina K. | @satoshi_club: @Slammyz welcome to Satoshi Club 😊Thank you for joining us

How are you? How is your day?

Carmela: Thanks Irina and Serg! Happy to be on with Satoshi Club today! We are huge fans of your community. We are doing great, just getting started with the day for me here in the US. What about you all?

Serg | Satoshi Club: We are glad to have you here 🙂 thank you for your kind words 😊We are great as well 🙂 Please introduce yourself and the project.

Carmela: I’m Carmela Donovan, Head of BD at RMPL.
I am an entrepreneur with 8 years of expertise in founding and running FinTech, AdTech, and Artificial Intelligence startups, bringing this experience now to RMPL.
$RMPL is a decentralized (ERC20) cryptocurrency with an elastic supply model. $RMPL reaches a supply-price equilibrium with its randomized rebasing. As a result, the volatility is in the token supply, not the price. A holder’s ownership of the network always remains the same, as wallet balances are globally altered in proportion to changes in demand.

$RMPL is designed to eventually reach a stable price of $1 (+CPI inflation). For that to happen the marketcap needs to be way higher than it is now. To get closer to $1, rebasing is introduced. This means, when the price is above $1.05 and a rebase happens, the total supply is increased. Every holder has now more $RMPL which, theoretically, should increase the selling pressure and drive the price closer to $1. The higher the price is, the higher is the rebase percentage. If the price is below $0.95 the supply is decreased and buying pressure should drive the price up closer to $1 again.

Serg | Satoshi Club: Interesting concept 🙂 we will discuss more about this in the next questions 🙂

Irina K. | @satoshi_club: That’s interesting 🙂 are there any other projects that have an elastic supply model? @slammyz all good?

Carmela: Indeed, recently we have seen a lot of innovative work in elastic supply tokens.
We give a lot of credit to one of our competitors, Ampleforth for paving the way for the elastic supply market.
One of our inspirations for RMPL actually came from witnessing how badly investors were impacted by the flaws in AMPL.

Irina K. | @satoshi_club: nice. Thanks for explaining. In part 1 we have questions from the community. Whenever you’re ready, we’ll start with Q1 😊

Carmela: Fire away 🙂

Q1 from bitcointalk user pedronino

I didn’t quite understand your random and unpredictable mechanism. What are its strong points and how does it help your project?

Carmela: As is said the main problem with existing elastic solutions, is the manipulation around the rebase time. You can clearly see that the price fluctuates heavily around the rebase everyday because everyone, and worst of all bots know exactly when the next rebase is.
With randomization we can solve this problem as it is unpredictable.
In our current solution we are working with a script in the back end. This script is running constantly and triggers the rebase function when an “if” statement is true depending on random number generators based on probability distributions. This is completely automated and random. Nobody can predict the timing of the rebase or take advantage of it.
We know that this is not a truly trustless solution and that’s why we are developing another contract called “rebaser.sol”.
We are moving and evolving into a fully on chain random version in the coming weeks, we’re working with a highly respected mathematician to evolve what we have started to become better and more trusted. You can find a full documentation about the contract on our github: https://github.com/rmpldefiteam/rmpl

One of our key values at RMPL is creating a safe environment for investors, that is free from market manipulation.

Serg | Satoshi Club: I have a question: why would you want to keep the price stable with such a complex algorithm? Why not just create a stable coin?

Carmela: One of the issues with existing stable coins that we address is through CPI adjustment for inflation, as well as the ability to organically drive stability by an ever-increasing marketcap. The way we can continue upward momentum in the marketcap is by the rebasing factor, and by incentivizing investors to hold through the ecosystem that we are building around RMPL.

Irina K. | @satoshi_club: You also need much less liquidity with this model, right?

Carmela: Correct, the elastic model corrects for price deviations naturally, without the need for arbitrage, and protected against inflation.

Serg | Satoshi Club: Thank you for explaining this Carmela. It is clear for me now 🙂

Q2 from bitcointalk user jpsarma

I read RMPL Github that says that it will rebase RMPL to a price target of $1.00 USD with a CPI adjustment. But the current price is $0.34. Can you explain how the CPI adjustment works that will bring the price to the target and how does it differ from Ampleforth?

Carmela: A randomized, curved lag factor is used to calculate supply increases and decreases when a rebase happens. The curve allows supply to increase at a faster rate when the total market cap is low. The lag factor depends on the total supply. the higher the supply is, the higher is the possible lag factor. Minimum is 6 and maximum is 14. For those of you that are interested in the details, here is an example of our calculation for a rebase.

(current price – base target price) * wallet balance / (base target price * lag factor)

At a price of $1.30, lag factor 10.00, the updated wallet balance would be adjusted by: (1.30 – 1) * 100 / (1 * 10) = 3

The new wallet balance would be 103 $RMPL.

At a price of $0.76, lag factor 8.00, the updated wallet balance would be adjusted by:

(0.76 – 1) * 100 / (1 * 8) = -3

The new wallet balance would be: 97 RMPL.

In this way, we can converge to the target price through elastic supply adjustments.

Serg | Satoshi Club: I feel like in the math class 😁

Carmela: Haha yes, the magic behind the scenes is what makes the world go around. I personally have a background in mathematics, so I quite enjoy getting into the weeds sometimes :sweat_smile:

Serg | Satoshi Club: Wow, that is great. To be honest, it wasn’t the class I liked the most in school 😁

Carmela: For me too, the appreciation came later when I could put it to good use, building great tools like RMPL!

Q3 from Telegram user @ion_cristescu

Please explain how is the rebase function happening and what are the benefits? Where should I hold the funds?

Carmela: The rebase function is applied on-chain, one of the benefits is that investors own a percentage of the network, so as our marketcap grows, even if the price stays at the target price, the value of their ownership grows with the marketcap of the coin.
For holding the funds, its as simple as holding them in any ERC wallet. All adjustments are made automatic!

Irina K. | @satoshi_club: What benefits does owning the network bring?

Carmela: One of the biggest advantages is for long term holders. The longer you hold the higher your rebase rewards get as your holdings gain compounding interest.
Additionally, we have some major developments coming up that will allow holders to leverage their tokens in our ecosystem.

Q4 from Telegram user @iulya_i

Why is the team anonymous? Don’t you think that in order to gain the trust of the community/investors everything should be public?

Carmela: We are upfront about our experience and involvement. Our CEO Blue is a well known member of the crypto community for quite some time, as well as a large part of our development team.
We could build fake LinkedIn profiles if that would change how much you trust the team, but we think it’s better to be up front and honest and say we would prefer to be anon. Each of us has our own reason, political, geographic, or personal.
That being said, (spoilers) we have some major partnerships coming up sooner than you might think, that require our team to officially KYC with some major entities. More on that in the next 48 hours

Serg | Satoshi Club: wow, I’m excited to see your news 🙂 could you give us some more hints? 🙂

Irina K. | @satoshi_club: We have a tradition, One secret/ AMA

Carmela: Well, our trusted leader dropped a “big K market” hint the other day…
I’m legally bound to not say more :innocent:.

Both parties will release an official announcement within 48 hours 😀 Needless to say, we have never been so excited at whats coming in the next two weeks. We are excited to take our vision of RMPL to the next level through these key partnerships.

Q5 from Telegram user @raztrader

What are the use cases for RMPL Tokens? How will the use cases benefit the value of RMPL token?

Carmela: This is a long one, one minute please!

Serg | Satoshi Club: take your time 🙂 btw, I am following the price. Since the beginning of the AMA it grew 30% 🙂

Irina K. | @satoshi_club: It’s “the satoshi club effect”

Serg | Satoshi Club: SCE, Satoshi Club effect

Carmela: RMPL has intrinsic value as an elastic supply token that can enable DeFi applications in an environment that is free from bot manipulation. We feel that this is something that is current unique to RMPL.
Our first application we are testing currently is for the RMPL Cradle (liquidity staking) which is coming later this month. We are also going to implement some sort of ranking system as a nice little incentive for stakers.
Far more important is that we are actively working on bringing more real world use cases to RMPL. We know that in order to really thrive we have to build an ecosystem around RMPL to drive adoption – and that’s our main long term goal.
For future plans, one of our co-founders is the CTO of a large point of sale software development company, where we are looking to develop a wallet to take payments in any currency and convert to RMPL on the fly for storage for when they are ready to do their end of month reconciliation – where it’s stable, and not unstable like Bitcoin or Eth.

We also see the recent hype about yield farming (yam..).
We have also noticed some instability in a lot of these farming tokens, and have already taken initial steps toward bringing some of these options to RMPL, where investors can grow their crops comfortably!
We are also taking the opinion of our community into account.
There has been massive demand, as soon as we launched for betting on the timing of the rebase. These organically motivated applications that come from the community are often the best kind of growth and development. We are looking to serve our communities needs first and foremost.

Q6 from Telegram user @boynerGroup

Could you please elaborate a bit on the lag factor, how it is determined and what role it plays in the rebase calculations now and moving forward?

Carmela: Yes, the lag factor is one of our features that allows for both accelerated growth, while simultaneously stabilizing the coins price at higher market caps.
The lag factor is semi-random across a curve, and is applied as a multiplier on the rebase supply delta. The lag factor depends on the current total supply, and the curve allows supply to increase at a faster rate when the total market cap is low by having a multiplier as high as 14.
As we approach higher market share, the expected multiplier is closer to 6, which means that the total supply adjustment will be less dramatic, improving stability.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nickkiii

Is RMPL secured against smart contract vulnerabilities? Have you carried out multiple audits with third parties?

Carmela: Great question, RMPL has contracted two well known auditors in the space, that have gained trust through their great work on major projects.
The audit work has begun already, and we will publish the full report as soon as its available (next week). We believe this is critical in continuing to build trust with the community, particularly after witnessing some investors being significantly impacted by other contract vulnerabilities (looking at you, YAMS)

Q2 from Telegram user @putu45

How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for the them to let them better understand about your project?

Carmela: We believe that too many times, communities are left behind because teams neglect their audience.
We currently have telegram communities setup for these following communities and are adding more every week!
Communities:
🇦🇪 @RMPL_Arabia
🇳🇱 @RMPL_Dutch
🇮🇳 @RMPL_India
🇮🇩 @RMPL_Indonesia
🇹🇷 @RMPL_Turkey
🇻🇳 @RMPL_VN

Q3 from Telegram user @melanintrish

When would Staking on the RMPL Cradle begin? and will stakers be able too see the statistics and return rates available?

Carmela: Right now we are focused on finishing the RMPL Cradle (liquidity staking).
We actually have finished the development and are in testing phases.
We are going to implement a ranking system as a nice little incentive for stakers to monitor both their own statistics as well as a leaderboard where you can compare yourself to others.
We will have some teasers of the UI dashboard coming very soon and full deployment will be online by the end of the month 🙂

Q4 from Telegram user @Trust_Yourself22

Currently , RMPL is Listed only on Uniswap .
Do you have plans to list on Bigger CEX Like Kucoin , Binance like AmpleForth ?

Carmela: Uniswap has served the community well as a way to bootstrap successful launches. However, many investors are not comfortable with operating on decentralized exchanges, and we know that to bring in the full audience we need to bring in big partners.
We are excited to say, that we will have a joint announcement of these partnerships in the next 48 hours! :heart_eyes:

Q5 from Telegram user @RoZerius

I can’t find $RMPL token on CoinGecko. In case if someone want to buy $RMPL, but can’t find the market, what markets did $RMPL listed on (except Uniswap)?

Carmela: We are now listed on coingecko 🍾 https://www.coingecko.com/en/coins/rmpl

Q6 from Telegram user @tazmansix

Looking at the existing tokenomics, the second most people holding tokens are the team (22%). Is there a token lockout for the team? If so, how long will the lockout take?

Carmela: Team tokens are locked on a 2% weekly vesting period over the course of 1 year. To date, the team hasn’t sold a single token… and does not plan to anytime soon.
RMPL is our baby, and our long-term investment.

Q7 from Telegram user @philicrohit

What are the Unique features of the #RMPL? how does this platform protect User/Investor from market manipulation?

Carmela: The most unique differentiator which inspired RMPL is the random rebasing mechanism. Because of this unpredictable element we can help protect crypto investors and prevent manipulation by bots and whales by having the rebase happen at anytime.

Q8 from Telegram user @dtKross

How do you plan to explain such technical topics to a wider audience?

Carmela: Great question Kambe, you have inspired me to write a series of medium articles that do a deep explanation of the technical mechanisms, and why they are so important. I’ll follow up regarding this in the near future. You can also check out this featured video by our good friends over at BitBoy Crypto https://www.youtube.com/watch?v=veCSMunNAWc .

Q9 from Telegram user @melanintrish

Where can I buy $RPML? Is it listed on any exchange yet?

Carmela: currently listed on uniswap.info , keep your eyes open at our announcement channel https://t.me/RMPLANN for more updates on exchange partnerships :stuck_out_tongue_winking_eye:

Q10 from Telegram user @Idee01

How different is RMPL from the widely known AMPL? AMPL make use of geyser faucet, what does RMPL make use of?

Carmela: Thanks Para Bellum, community members like you are what makes RMPL’s community the best. You are why we wake up every morning, and get to work on developments. I appreciate you.
Geyser was tremendously important for Ampleforth, see attached image. Geyser was the launching off point that we all knew and loved.
RMPL Cradle, is our launching off point, our Geyser. It is currently in testing phase and will be fully deployed by the end of the month, and it is so exciting to be here with you all, in these first days before we make OUR push to the top of the crypto charts.

• 

Serg | Satoshi Club: that was it. thank you very much @slammyz

For your time and answers 🙂Do you want to address the community with a message before we open the chat?

Carmela: Thank you Serg and Irina, your community and hosting is truly remarkable!
We loved being here today, for anyone in the community who wants to stay up to date with RMPL, stay tuned on our telegram channel for some big announcements coming in the next 48 hours!

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of RMPL. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1200$.

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

RMPL Community: https://t.me/RMPLTG

Good content isn’t about good storytelling. It’s about telling a true story well. SatoshiClub does its best to deliver you only true stories about amazing cryptocurrency projects. And today we would like to tell you about the AMA session with our friends from ATROMG8. The AMA took place on August 21 and our guest was Milivoje Batista, the Founder of ATROMG8.

The total reward pool was 600$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg | Satoshi Club: Hello!today our guests are from @My_Atronocom_World , How are you today?

Irina K. | @satoshi_club: Hi and welcome to Satoshi Club

Serg | Satoshi Club: You are very busy today 🙂 please introduce yourself and the project

Quantum Baker: Hi guys my name is Milivoje Batista and i am the Founder of ATROMG8

Serg | Satoshi Club: are you from the balkans btw?

Irina K. | @satoshi_club: Tell us a few words about ATROMG8 please 😊

Quantum Baker: I or the Team?

Serg | Satoshi Club: I thought Milivoje is a Balkanic name 🙂

Quantum Baker: No, Milivoje is known in the Balkan very well but it comes from the old french but one part of parants is coming from the balkan thats right.

ATROMG8 is a API connection platform which is specialized on the data protection and privacy and which is connecting over API many additional services from third parties on our Social Media platform

Irina K. | @satoshi_club: Is it like a “hub” for API’s?

Quantum Baker: Yes, think in the Form of a shopping Centre where the structure is given and the shops inside are providing all of the needs of today under one roof! Some of the services we are providing by our self and some we are giving to third parties to take care for.

Irina K. | @satoshi_club: Thanks for the intro @QuantumBaker. In the first part we have questions from our community collected via our platform. Ready to start?

Quantum Baker: yes i am

Q1 from bitcointalk user juanes

You will release the Beta version soon. Please explain what new functionalities it will bring and what is its goal?

Quantum Baker: the Beat one is testing the reaction of the platoform under stress. that means when a lot of users are joing! The other point is to have feedback abaout functionalities in especially the social media segment as this is a very importatant part. bi weekly we are adding the features and working on them to make sure that ones we go live 11.11.2020 we have good resulats and user experience

Serg | Satoshi Club: how many users can it sustain at the same time?

Quantum Baker: We are implemting our Blockchain for the use of the EHealth of Kerala for 35 Million people at the Moment and once this is over i can tell you more. We are taking care for data protection and there is our focus. We have features to issue Diplomas and Certificates on Blockchain or using this technology for MatchMaker activities between companies which we are preparing with IBREI and Accubits on the platform of IBREI which is connecting 30`000 companies

Irina K. | @satoshi_club: Could you elaborate on the functionalities it will bring please?

Quantum Baker: in which field of the platform?

Irina K. | @satoshi_club: Let’s say health. Since you gave an example from that industry

Quantum Baker: health is a very special part. The idea is that one can go to any Doctor and and just show his QR Code and the Doctor can read it and get limited access to all the Data of the client. this way the client do not need to have all the Data all the Time with him and therefore nothing gets lost. A clients history can be identified and it is the job of our Blockchain to make sure that this ata does not get out there and only stays available to the person who is authorized by the patient.

Q2 from bitcointalk user peterter

ATROMG8 got featured on Hackernoon’s list of “Top 20 Promising Blockchain Projects in 2020. How much competition do you feel in this area now?

Quantum Baker: yes we were featured for the Data Security part in combination with Traditional Industrial needs and the development of the cryptographic possibilities like Blockchain and communication as this is one of the top topics 2020/21 and for sure later as well as the Cyber Criminals are not sleeping as well

We see every day more and more projects coming but we are not afraid as we are already supplying huge Networks with our Technology and testing it together. That what we have now will keep us busy for quite a time even no new client will come to join the network. Which we doubt as we are getting contacted on a daily base.

Serg | Satoshi Club: this is good for business :+1: good job

would like to add more or shall we proceed to the next question?

Quantum Baker: no we can go on

Q3 from Telegram user @kany_west

You say that you have implemented your blockchain on a satellite. Am I right? How does this function?

Quantum Baker: We are the first Blockchain which is going to have a full node on a Satellite which is going to be in the lower orbit and transported by SpaceX in August 2021 there.
As many institutions and research and development companies have issues with the security on the terestrial internet, we are ginving a solution to transfer files and information as well as connect to IOT Devices over a Satellite. this is giving in many points less exposure to hackers and a much higher security for the users of the service. this is giving in many points less exposure to hackers and a much higher security for the users of the service

Serg | Satoshi Club: are you in contact with Elon? 🙂

Quantum Baker: Sorry i can not answer this kind of question here as we have very strict contractual regulation. Our Agencies are talking to each other!

Serg | Satoshi Club: fair enough 🙂

Q4 from Telegram user @ownyourfunds

What is LLARP Protocol? It is for security reasons as I understand. why do you need it

Quantum Baker: woow, ok let me think one moment how to pack it short and sexy!

Irina K. | @satoshi_club: Short is optional, make it sexy 😀

Quantum Baker: LLARP was introduced by LOKI earlier to overcome the down sides of TOR and i2P in the cominication and speed on transaction. We are using it as the protocol for our MixNet! The name of the MixNet is RUBY and thats the only Sexy thing in this answere! Sorry for that

Serg | Satoshi Club: no prob, we love Ruby ))

Quantum Baker: ruby is cool and she can talk… hahaha

Serg | Satoshi Club: with a sexy voice I guess 😂

Quantum Baker: we are working on it! at the moment you must have a very strange preference to find it sexy but ok! We will see once we have it done

Q5 from Telegram username @trandaiquang91191

I’m really interested about ATROMG8 Charity Program, it’s really great program to help our discommodity comrade. What kind of charity target from ATROMG8? And what do ATROMG8 give to donate them?

Quantum Baker: The Charity Program is a project which we call the Chain of Love. of all the transactions done on our Network and with oour or any other currency, we are giving 10% to Humanitarian and Enviromental preservation projects. On the platform which we go live shortly, you would be able to introduce your project and apply for financial support. If the community likes it you will get suppported by ATROMG8

Serg | Satoshi Club: what humanitarian actions have you supported until now?

Quantum Baker: Now we are not doiing to many transactions so the budget is not that big but we are already supporting our Legion the guys out there of the community to help people on the streets who have no home and nothing to eat. At the moment in Brazil!

Serg | Satoshi Club: great initiative!

Quantum Baker: Its not big but 200-300 people get each night something warm to eat in the Favelas of porto Alegre!

Irina K. | @satoshi_club: That’s a great initiative :heart:

Q6 from Telegram user @alice_wonderland12

According to your whitepaper a transaction can be considered confirmed with 99.9% certainty after an average of 1.5 seconds from time of broadcast, would that 0.01% be significant to funds losses while doing transactions?

Quantum Baker: no, not at all! The speed is very important in todays world and the lost of funds today has more to do with human failures to 80 or 90% and 10% goes to the account of technology!

yes we would love to see you on our Channel

Serg | Satoshi Club: would you like to add smth or shall we open the chat? 🙂

Quantum Baker: I want to just give one thing to think about and this is very important to the whole team. ATROMG8 is not made to push a coin or a token. We believe in the long term building of value and security and therefor we are working at the hardest to build the community and usecases up where we have all of our focus. This is and only this will bring the real value to the coin and no pump activities, Therefore do not join or participate in this project if you see the project to make fast big money but if you see us as a Team which probably can bring some solutions to create a better world together then you are very welcome to join us like many big companies already doing it!

Serg | Satoshi Club: that is laudable

Irina K. | @satoshi_club: That’s the way to do things. Congrats

Part 2 — live questions from the Telegram community

Q from Telegram user @Aleurich

AtromG8 is a fairly complex ecosystem in terms of all the services they offer. What services do you think are the most needed in the world today?

Quantum Baker: for sure data security! this can kill you and your future! There is a whole industry out there behind you and your information! If you dont protect them then you have no future

Q from Telegram user @armahes

there is 5G technology and IoT(internet of things) as emerging Technologies… now,Can ATROMG8 integrate or Join these technologies to merge into Constellation ECOSYSTEM?

Quantum Baker: we are doing the same over the Satellite as we are doing over terrestrial internet! As you can see, we have in our Board Jorge Sebastiao, Former CTo of Huawaei and we are working on some great things but to early to share.

Q from Telegram user @lucy4277

Regarding IBREI, how do they manage to establish a bridge for alliances and relationships between professionals, companies and institutions, both public and private? do they use any algorithm that connects similar interests?

Quantum Baker: We are Building a Platform togehter with the name WORLDG8 and on this platform we are integrating state of the Art Algos to make sure that we have matches which makes sense and we are building as well support centers in several spots on this planet to make sure that the peopple are not only talking to robots. It is a mix of Algo and real life support! We call it the round table

Quantum Baker:

We are working on the largest B2B and B2C platform in the world with Accubits Technologies, Oorjid, IBREI and two partners which we are not allowd to mention at this point of time. The idea is to make sure that from the small size companies up to the big boy all are fighting with the same sticks and makeing sure that the data are still protected and not only supporting one or two global players. On the other side we are building with very very large Student organizations the platofromt for education and Training and building the bridge between the Industry and the Students and the challanges of the global post pandemic economy! Our Aim is to be the best in this field even it is a long way to go but we have the right people to do it!

Q from Telegram user @bitgraile

What was the greatest challenge ATROMG8 team had while creating the project? Thank you.

Quantum Baker: Regulation which is not harmonized in a global economy and the games of Banking Industry against the peer to peer movement!

Q from Telegram user @xwidex

how do you attract investors to be interested in $AG8 ? because some investors only focus on short-term prices rather than long term?

Quantum Baker: I think that our situation and status quo gives us the possibility to claim that we will ahve a substantial grow in the Token price in short and the long term Investors. We are improving the system again and again and we are sure that we are satisfiyng both preferences.

Q from Telegram user @starkyiv

How will AtromG8 solve the scaling problem that social media platforms have?

Quantum Baker: This is a complex question but for sure the API Architecture is releasing a lot of pressure and the Defi plannings (not ERC20 base) will have as well their impact. But to give you a precise answere i would need to have a specific field of this question

Q from Telegram user @jpsarmah

You go live in roughly 82 days. What are the developments going on currently and what is the roadmap ahead after going live?

Quantum Baker: we are 90% with the social media! Blockchain Certification system is finsihed 100% and in testing in Singapore and the UAE. Shop for B2B and B2C is on 85% and in testing mode. Online School is 95% and in Design Mode. First classes will test it with William Nonnis (Full Stack Dev of the Ministry of Defense of Italy by end of september! Blockchain is under stress test and will go in main Net mode by end of Oct and be ready for 11.11.2020
Node and Staking process 85% are in test and calculation are in process for quotas and participation.

Q from Telegram user @Mcmonk

how does $AG8 spearhead the adoption of DeFi using a blockchain solution?

Quantum Baker: thats the 1 Million dollar Question which we are working on it with out satisfing results so far as all what is available today does not fullfil the requierments of a secure and fast network which would make any sense in the real industry

Q from Telegram user @CryptoLover97

How can you ensure that the project will be long term?
Why do you think it was better to launch your token in the SAFT agreement?

Quantum Baker: Nobody can give you any guarantee but this structure of the partners involved and the steps already achieved does not reflect the intention to soon stop here and trow away what we achieved. And the SAFT was the most stupid idea we had and thats why the most of it were reimbursed and the fianncial part taken over by the Team it self.
We are not advising anobody to do the SAFT then from the regulation it does not protect yo in any sense and the onyl guys really makeing a fortune are the lawyers!

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of ATROMG8. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

For more information and future AMAs, join our Social Media channels:
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