The AMA took place on August 7 and our guest was Nikolay Mentor (@vipmentor), Co-Founder and CEO of ZELWIN.com.
The total reward pool was $1500 and it was split into three parts.
Nikolay has answered many questions during the AMA and has selected some of them to be posted in an article.
……………………………………….
Question from Telegram user @rioliandaro Incentives, discounts, vouchers, coupons, cash, these are some of the benefits that users get when using a platform like the one you created. Will this all apply in the future to ZELWIN? Can we expect this as a user?
Answer from @vipmentor We created a better system!
A huge advantage of this platform that for every purchase, customers get guaranteed cashback in ZLW tokens. They instantly be able to exchange these tokens for various cryptocurrencies, USD/EUR, send them to VISA/MasterCard or save them up. It’s better than any vouchers etc.
Question from Telegram user@Aleurich If I am a small entrepreneur, do I have the possibility to sell my products on Zelwin? Is there any support for small entrepreneurs? Do you have advertising plans?
Answer from @vipmentor Of course. For all merchants free registration. No subscription fees. Commission only from real sales. Free advertisement. 0 risks for you and help from us. Additional sales channel
Question from Telegram user@Aleurich Very few projects have their website in Spanish, but you do, Congratulations! Are you planning to expand your market to Spain and Latin America? What are you focused on today?
Answer from @vipmentor Thank you. Yes, we’re planning to expand to Spain and Latin America and as many countries as possible. That’s why I invite all of you to become our partner at Zelwin
Question from Telegram user @motngaykoxa How many achievements earn from starting to present of zelwin? Is there any historical achieved can earned zlw?
Answer from @vipmentor We have a huge progress and traction. More than 600 partnerships. Communities and partners in 20+ countries.
By the way, about ZLW tokens, our price had started at 1 dollar for one ZELWIN token. But now, on Coinmarketcap, the price for Zelwin token is more than 4$ and growing. It means that early investors received more than 300%+ of ROI.
Question from Telegram user@trandaiquang91191 What are some of the main uses of ZLW and How can users benefit and earn from Zelwin?
Answer from @vipmentor You can exchange ZLW tokens on fiat money, send to VISA/MasterCard, receive cashback on our platform in ZLW, trade on 5 exchanges on Top 20, play in games using Zelwin tokens. Also I want to repeat, our early investors receive 300% of clear profit right now and we’re growing very fast and increase our fan database.
Question from Telegram user @mikenit90 I am a Business Mogul in Africa and am seeking E-Commerce giants to partner with, does Zelwin consider this sort of partnership and willing to work with Africa’s Emerging Markets?
Answer from @vipmentor Of course, we are ready for cooperation in Africa.
Question from Telegram user@iam12312 Can You talk about a compaign that You did regarding attracting more users to Zelwin?
Answer from @vipmentor We’re doing a lot of marketing activities in many channels, PR, AMA series and don’t forget about our Powerful Affiliate Program https://zelwin.com/become-a-partner
Question from Telegram user@R_a_i_h_a_n Partners, partners in every project play a huge role as backup and support at every start of a project/company, so my question is What role do your partners play in the ecosystem and what benefits do they have for being a partner?
Answer from @vipmentor Yes. You are right! Advantages for our partners: 1. If you invite Merchants on Zelwin platform you’ll receive up to 20% commission from cashback from all of their sales. 2. If you invite Buyers to our website (using a referral program in their personal account), you will receive 20% of cashback from them 3. If you invite other Partners to buy “Partner’s packages”, you will receive up to 30% of commission from sales
Question from Telegram user@CryptoZaratustra Is your aim, to become the leader in the Platform marketplaces and e-commerce applications ? If so what will you say is your biggest strength to achieve it?
Answer from @vipmentor Yes, we have set clear goals and strategies for the next 5 years to become one of the leaders in this industry and get our decent market share. Our strong point is that we go from the people and share with people and our users up to 50% of our commission. The rest of the marketplaces take all the profits for themselves.
Question from Telegram user@Royalzackie A lot of people don’t know what cryptocurrency is yet,,they only know about Bitcoin and feel that others are scam in crypto. What does #ZELWIN team plan to do to help more people in crypto market, mostly new investors to understand cryptocurrency and how to invest in it the right way??? Are there plans to introduce ZELWIN to local business,,to help them accept crypto as a means of transaction in CRYPTO CURRENCY??
Answer from @vipmentor Y es, you are absolutely right. Therefore, we have connected the real sector of the economy and the cryptocurrency world together. 95% of our clients are from the real sector of the economy and they receive ZLW tokens in automatic mode, as a cashback. And we see that this is of great interest to them, and especially for them, we have made a very simple and understandable exchanger https://ex.zelwin.com/, where they can use at any time, change ZLW bonuses for real money and send them to Visa and Mastercard. That is why we have more and more community every day.
For more information and future AMAs, join our
Social Media channels:
Welcome to another exciting chapter of our Satoshi Club AMA Series, today we would like to tell you about the session with our friends from SPERAX. The AMA took place on August 13 and our guests were Zhou Yu (Researcher) and Frida Cai (Global strategic partner).
The total reward pool was $600 and it was splitted into three parts.
In this AMA Recap we will try to summarize some of the most interesting points for you.
………………………………..
PART 1, INTRODUCTION AND COMMUNITY
QUESTIONS
Serg | Satoshi Club: Hello dear community! Today our guests are from @sperax. The sale is starting in 12 hours! KYC IS OPEN: sperax.io. You can begin your registration now. Welcome @yuzhou87@FridaCai_Sperax.
Irina K.| @Satoshi_Club: Hi everyone 👋
Zhou Yu: Thanks
hello everyone.
Serg | Satoshi Club: We are glad to have you here. Please
tell us a bit about yourself 🙂 and a bit about Sperax.
Zhou Yu: My name is Joe. I am currently studying in UCLA for
Mathematics of Computation (mathematical side of computer science) and pursuing
a Philosophy minor. I have been working as research assistant for Prof. Rafail
Ostrovsky for cryptography and theoretical computer science back in school. I
joined Sperax last June under the supervision of world leading cryptographer
Professor Yongge Wang. I am now a researcher for Sperax. I am one of the
authors of Sperax latest IEEE INFOCOM paper and I am the presenter. So ask me
anything about BDLS consensus or the paper if you are interested. 🙂
Frida is our
global strategic partner responsible for marketing side of mainly north America.
She holds a bachelor degree in Foreign Affairs and a history minor from
University of Virginia. She is a fresh graduate from Columbia University
Graduate School of Journalism with a Master of Science degree in Data Journalism.
She has extensive past experience in reporting the latest technology trends in
Asia and was mesmerized by the potential of crypto and blockchain industries
and has been devoting her career into the space ever since.
Serg | Satoshi Club: Thank you for this introduction 🙂
we’ve collected some hundreds of questions from the community. We’ve selected 6
of them to be discussed in the first part. Are you ready to start?
Zhou Yu: Sure.
Maybe I can introduce Sperax very briefly first?
Serg | Satoshi Club: Of course! this is the point of the
AMA, we know that you have a good team based from your explanation, let’s see
the project.
Zhou Yu: Sperax
project originates from a blockchain proposal by world-leading cryptographer,
Professor Yongge Wang from the University of North Carolina. Funded by the
internationally-renowned blockchain venture capitals like Outlier Ventures,
Sperax is a new-generation financial public blockchain. Founded at Menlo Park
in Silicon Valley, California in 2018, Sperax team now spreads across the U.S.,
Singapore and China.
Serg | Satoshi Club: I see that your education/work is
mainly based in Nort America. Where is the name coming from? Smth from latin?
Zhou Yu: Haha
many people asked this question. Someone in our marketing side came up with
this pretty fancy name from Latin.
Serg | Satoshi Club: I speak some Latin, so it sounded
familiar.
Zhou Yu: He
told us it means “trust” and everyone was just amazed haha.
Serg | Satoshi Club: So, shall we proceed to the first
question of the community?
Zhou Yu: I
am ready.
Q1 from Bitcointalk User linderm
I have seen that you have multiple consensus
protocols. Why do you need more? What are its functions?
Zhou Yu: When
we proposed Sperax project, we analyzed many current blockchains and of course
their consensus protocols since consensus protocols are like the souls of
blockchains. They are all good and some are impressive. However, we found that
they were all based on a naive network model, aka “synchronous network
model.”
I mean this model is not bad. It is
simple so leaves much room for the designers. But it can overlook some
significant security problems that only occurs in the real environemnt. Our
professor is specialized in this area. We chose to use the more realistic and
of course more challenging one — partially asynchronous network. Under this
model, many realistic attacks have to be taken into consideration when
designing the protocol. Especially DoS attacks because the network is not
always in a sync mode.
Serg | Satoshi Club: So, you are making it more secure.
Zhou Yu: Basically
yes. But we did not stop here. After we finished our first draft (BDLS
consensus is an academic paper at first), we asked ourselves, is it enough.
Serg | Satoshi Club: Never stop, always improve. 🙂
Zhou Yu: Our
Prof thinks we can do better. In a nutshell, we cannot only improve security
without taking performance or efficiency into account at the same time. So we
devoted the rest of our time in improving the efficiency of our consensus. The
most significant part is communication complexity. Since communication usually
takes the most time.
Luckily, in the end we managed to
reduce communication complexity significantly. Our BDLS enjoyed double the
communication speed than the fastest one.
Irina K.| @Satoshi_Club: Communication between nodes you mean?
Zhou Yu: Yep.
Nodes have to send messages back and forth to reach consensus. In async
setting, it gets even more complex. So you can imagine when we were notified by
IEEE INFOCOM that our paper was approved, we are SOSOSO excited haha.
I think my answer is a bit too long. I
will keep it shorter for the following questions.
Q2 from Bitcointalk User bitmartbounty
What’s the purpose behind a DUAL TOKEN system
of SPA and SCOIN, can you explain their utilities and diffences and can I swap
between Spa and SCOIN?
Zhou Yu: Sperax
ecosystem issues two tokens: SPA as the utility token on BDLS and sCOIN as the
native stablecoin. SPA is the utility token in the Sperax blockchain just like
ETH in the Ethereum blockchain. It ensures the economic incentives for
participants in the BDLS consensus. It also reflects the network value for
Sperax.
When users join the Sperax network,
they could earn SPA as they run nodes and validate transactions. Similar to
other public blockchain, gas fees are collected in SPA as transactions happen
on the Sperax blockchain. Moreover, SPA is also the governance token for the
protocol. In short, SPA is the utility token. In contrast, sCOIN is fiat-pegged
stablecoin issued on the Sperax blockchain. Moreover, it is the native
stablecoin of Sperax blockchain. We are the first public blockchain that issues
a native stablecoin btw.
sCOIN is minted through depositing
fiat currencies by users and is issued by financial nodes (regulated financial
institutions with fiat custody) in the network.
Irina K.| @Satoshi_Club: So the stable coin is covered by fiat?
Zhou Yu: sCOIN
is fiat-pegged.
Serg | Satoshi Club: It’s smth different? I didn’t see
this model. oh, just read more carefully. You are the only one in the world.
Zhou Yu: Haha
if you are interested, check out our econ page on our website. 🙂
Frida Cai_Sperax: Sorry our KYC just opened up and a flock of registrations went in from all over the world.
Serg | Satoshi Club: That’s a good sign, I have seen you
guys on a lot of platforms.
Q3 from Telegram User @madkaren
Why are you using the unpredictable random
beacon RANDAO? why do you need a protocol that presents a joint random number?
Zhou Yu: RANDAO
is for our consensus protocol BDLS. BDLS belongs to the category of BFT
consensus protocol which requires randomness to ensure its security.
Yes we can choose a centralized
randomness provider or naive randomness like hashing the previous block info.
But if we choose a centralized randomness provider, what’s the purpose of
blockchain right?
Serg | Satoshi Club: Right. 😀
Zhou Yu: And
if we choose naive randomness, the process is deterministic. This means we have
to reduce our security level significantly. So we end up in choosing a
decentralized, collective randomness.
Serg | Satoshi Club: You pay a great attention to
security. That’s a good thing. Your name, which means trust, really fits you.
Q4 from Telegram User @Eraybukucu
Sperax token holders have the right to
governance by contributing to the design & upgrade of the ecosystem. How
many tokens do I have to hold to participate in the decisions, and what is the
structure of this, would this system be corrupted if someone holds +50% of the
tokens?
Zhou Yu: This
AMA is very tech-focus haha. I am pretty excited.
Serg | Satoshi Club: We try to understand the important
things. 😀
Irina K.| @Satoshi_Club: We try to do the translation job.
Zhou Yu: Sperax
is basically a PoS blockchain. So you stake to participate in block generation.
Our testnet makes 10k SPA as one staking unit (this might change when our
testnet is launched, our econ simulation model is still experimenting on this
parameter).
Will our system be corrupted by 51%
attacks? you guess you mean 51% majority stakes. Any BFT consensus protocol
needs over 2/3 honest participants to ensure secure consensus, so malicious 51%
staking holder is a big problem for any BFT protocol which every current PoS
blockchain uses. I mean let malicous group control over 50% stakes are itself
crazy. Like half of your fortune in a state is controlled by terrorists.
So over 51% staking will put any BFT
consensus blockchain into security vulnerablility. But since we use extra
randomness, we have an extra layer of defense even in this situation.
Serg | Satoshi Club: We don’t negotiate with terrorists.
😀
Irina K.| @Satoshi_Club: And do you have mechanisms that prevent this
from happening? I mean someone or a group holding such a big part?
Zhou Yu: I
feel in general we do not need to. I mean if someone say their blockchain is
secure no matter what (even when the world is at its end), you prob won’t
believe him.
Q5 from Telegram user @nerddutch
You claim that after partnering with
Chainlink, you can finally bring real-world data into the Sperax ecosystem and
connect to traditional non-blockchain systems. How would you do that? Please
elaborate.
Frida Cai_Sperax:We are thrilled to share with the world today that our mission to make decentralized financial services globally accessible is marking another milestone, thanks to our upcoming integration with Chainlink. By integrating Chainlink, we can finally bring real-world data into the Sperax ecosystem and connect to traditional non-blockchain systems. This allows our developers to create smart contracts connected to off-chain data feeds, APIs, traditional payment infrastructure, and more, which greatly expands the number of use cases we can build solutions through DeFi and other large markets.
Within our DeFi
ecosystem, Chainlink oracles will aggregate market information from a variety
of high quality data sources to serve as reference prices for assets such as
cryptocurrencies, fiat currencies, commodities, indices, and more. DeFi
applications can then use those price feeds as the basis for making automated
decisions like how big a loan a user can take on, whether or not to liquidate
someone’s collateral, and whether or not a payment actually occurred off-chain.
This
integration will enable Sperax to leverage Chainlink’s decentralized oracle
network to bring real-world data to any smart contract running on the Sperax
network, and ultimately steer users and developers towards better financial
decisions and more passive incomes through highly accessible and reliable
financial products.
Irina K.| @Satoshi_Club: Great initiative. Good luck with that. 👍
Q6 from Telegram User @dtv1907
Can you tell me more about the next
$SPA Public Sale? Do I need to KYC to join the Public Sale? Is there any lock
up period after I buy $SPA and other round in the future? Can you give me the
points that convince me to buy $SPA?
Frida Cai_Sperax:1. The KYC is opened for registration now at sperax.io. The sale will not begin until August 14th at 10AM ET.
2. You can
refer to https://spa.sperax.io/4.-distribution-and-unlocking-schedule for the
unlocking schedule.
3. SPA is
the utility token in the Sperax blockchain just like ETH in the Ethereum
blockchain. It ensures the economic incentives for participants in the BDLS
consensus. It also reflects the network value for Sperax. As users join the
Sperax network, they could earn SPA as they run nodes and validate
transactions. Similar to other public blockchain, gas fees are collected in SPA
as transactions happen on the Sperax blockchain. Moreover, SPA is also the
governance token for the protocol.
………………………………..
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The chat was open for 80 seconds; a lot questions were posted by the Satoshi Club community. Our guests chose some of them.
Q1 from Telegram User @anhdaikull
How different is sCOIN compare to other stable
coins?
Frida Cai_Sperax:Stablecoins exhibit high volatility that
fundamentally stems from poor adjustment to supply and demand, because they
overlook what the fintech market is after. To address that, Sperax designed a
backed fiat-pegged stablecoin.
By partnering with regulated financial
service providers, Sperax stablecoin could also ease the barrier by on-boarding
users holding fiat. While these are similar to Tether’s initial claims, their
validity has come under criticism of late. The trouble is, Tether isn’t held to
those promises because it’s not intended for use by regulated financial service
providers.
Regulated financial service providers
and OTC desks are best at interacting with end users and helping consumers
understand their products and services. By leaning on these providers, Sperax
can focus on providing liquidity for the token. By issuing geography-specific
stablecoins, Sperax can support cross-border transactions in conjunction with
financial service providers.
In order to further ensure stability,
Sperax manifests for the consumer in a stabilization fee charged each time
users exchange fiat for stablecoins. This in turn is used to reward financial
nodes, as well as for buyback of the SPA tokens.
Finally, where other stablecoins have
failed due to external factors like protocol incompetence, Sperax stablecoins
have diversified dependencies. Where a decentralized stablecoin issued with
Ethereum-centric collateral rises and falls with Ethereum, Sperax provides an
extra layer of stability for the SPA token holders by being the first native
stablecoin in the public blockchain ecosystem. https://medium.com/sperax/a-stablecoin-that-actually-works-1c0afa143256 read more here.
Q2 from Telegram User @puppyz1
So your project does seem to be promising, but
we have seen many of the project team member desert the team and project for
some unknown reasons and how can you ensure that your core team members will
remain committed to this project?
Frida Cai_Sperax: I am confused by what you mean that many of
the team members desert Sperax…? Because there is not. 😅
As for how to keep people committed, we implement a flat management, which
means no c-level position is assigned. Everyone is deemed as a partner who is
in charge of different sectors.
Q3 from Telegram User @Dhanu006
Why is Sperax integrating Chainlink Oracles?
What advantage does it bring to Sperax?
Zhou Yu: In
short, Chainlink provides us with a decentralized oracle network. It can
provide us with a secure and reliable data channel, both data feed and output.
So developers on Sperax has more reliable data and API access and have more
room to develop better dapps, especially better DeFi.
Q4 from Telegram User @sayasyno
Why sperax make 2 tokens?
Frida Cai_Sperax: On top of BDLS, financial infrastructure is
designed in the ecosystem to support users of the network. Sperax introduces a
native stable coin design in the system that connects its decentralised economy
with the physical world. Just like it is hard to imagine an economy without
financial systems or a government body, it is necessary for a digital economy
to have its own currency and governance model to power new business models. The
platform token – SPA, is introduced both to serve as the governance token in
the ecosystem and the fuel to power network transactions.
Q5 from Telegram User @baobao265
I think there are 3 core issues: security,
scalability and interoperability which will bring competitive advantages to
blockchain projects. So how does Sperax outperform other projects?
Frida Cai_Sperax: For security, as our answer for BDLS has
explained, our BDLS consensus protocol is designed in the most realistic
network model so the security of blockchain is greatly improved. For
scalability, I prefer a more general term — performance or efficiency. Since
the main goal here is for us to improve the processing speed in blockchain.
Our BDLS protocol has significantly
improved processing speed or efficiency by enhancing communication complexity
of our consensus. The last one is interoperability. I guess here you mean how
our Sperax blockchain can be interoperable with real world finance. We connect
our blockchain ecosystem with the traditional financial world by our unique
design of financial layer. It consists of our native stablecoin sCOIN and a
group of authorized financial institutions. We believe that our unique
financial layer can truly integrate the new blockchain world with the
traditional world.
Q6 from Telegram User @bhu85
How important is the community to Sperax
Project and how can we collaborate in development?
Frida Cai_Sperax: Sperax BDLS is mathematically proven to
provide an extra layer of security against DoS attacks in an asynchronous
environment with fewer safety assumptions — such as on the open Internet. 2019
saw Sperax enthusiasts recognizing this potential at meetups with our current investors
and partners, including Outlier Ventures, FBG Capital, Newstyle Capital, etc.
We’re also proud that we’ve been able to partner with various portfolio
companies in the China Academy of Science Holding (CASH), the largest state
level tech investment firm.
We are always striving to foster
healthy community discussions surrounding the benefits that Sperax presents to
the PoS community, as well as the larger blockchain ecosystem.
At present, the Sperax project has
established R&D teams in both China and the United States, carrying out
collaborative development, researching key technologies, and simulating and
testing key modules. We host meet-ups internationally, so please keep an eye
out for a future one that might be near you!
Q7 from Telegram User @dinhnam862
Why is the Sperax ecosystem issuing 2 tokens:
sCoin and SPA? What is Sperax’s main token? As far as I know, Sperax is the
first decentralized system to have a native stablecoin. So what is the main
function of sCoin?
Zhou Yu: Sperax
is a financial public blockchain. A native stablecoin like sCOIN will play a
crucial part in achieving our goal. It is vital in every one of our three main
use case: a decentralized payment system; global remittance and transfer; DeFi
ecosystem.
Q8 from Telegram User @Truongkhanh
What is the utility and use cases of Sperax?
Can we use it in real life or not?
How can we participate in Sperax’s network and
become a nodes and validator of SPA? What is the requirements for equipment?
Zhou Yu:
A regular PC is enough. If ordinary user cannot participate, our blockchain
defeats its own purpose. 🙂
Q10 from Telegram User @kun4321
What is your plans in place for global
expansion, are Sperax Project focusing on only market at this time? Or focus on
building and developing or getting customers and users, or partnerships? Can
you explain this?
Frida Cai_Sperax: Founded in Menlo Park, Sperax now has offices
in SF, NY, Singapore and China. We are expanding in southeast Asia and would
open a lab in Germany.
Q11 from Telegram User @rioliandaro
SperaX uses a consensus algorithm. BDLS, it
looks like it looks good in terms of security and scalability. However, I am
not sure whether SperaX can play a role in connecting the real world and the
blockchain sector in the financial sector. Do you have any other plans? or do
you have a business case you’re working on?
Zhou Yu: Sure.
These three use cases might be helpful to your question:
i. Xiaomi Financial Virtual Bank with
full licenses authorized by Hong Kong Monetary Authority Proposed Sperax
stablecoin for the following uses cases:
Use the fiat gateway
and accept cash equivalent.
Support cross-border
transactions based on the stable coin network and offer more competitive rates.
ii. A Sand Hill Road based Venture
Capital
Tokenize its
emerging crypto-focus fund.
Integrate its
mobile gaming portfolio companies on Sperax networks.
iii. A costume martial-arts TV series,
The Untamed, with 8 billion views on Netflix and WeTV:
Tokenize its
worldwide fan meet-ups and concerts tickets.
Serg | Satoshi Club: Thank you for joining us! It was
awesome!
Zhou Yu: Thank
you Serg and Irina for hosting this amazing event.
………………………………..
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Sperax. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were shared among the winners.
For more information and future AMAs, join our
Social Media channels:
Part 1: 450$ /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: 450$/15 users – Open chat for 80 seconds. You can post Max 5 questions. Akash Network Team will select 15 questions and answer them.
Part 3: 1300$ – A quiz about Akash Network
For more details:
Akash Network – @AkashNW
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 80 seconds. You can post Max 5 questions. RIO DeFi Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about RIO DeFi
For more details:
RIO DeFi – @Riodefiofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 80 seconds. You can post Max 5 questions. BAZ Token Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about BAZ Token
For more details: BAZ Token – @bazookians Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Every new day brings a new possibilities, as well as SatoshiClub gives possibilities to learn and earn to all its members. So, today we would like to tell you about the AMA session with our friends from KardiaChain. The AMA took place on August 12 and our guests were Tri Pham, CEO / CO-FOUNDER at KardiaChain and Anthony Vo, CFO at KardiaChain.
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: Hello, dear community! Today our guests are from @kardiachain , the National Blockchain of Vietnam. Welcome! 🤝
Irina K. | @satoshi_club: Hi everyone 🖖 Welcome @triminhph and @anthonyvo_KDC Thank you for taking the time to join our AMA 😊
Tri Pham: Hello everyone. Thanks @iri_kravchuk for having us today
Irina K. | @satoshi_club: How is your day?
Tri Pham: it’s great 🙂
Irina K. | @satoshi_club: Our pleasure. Please tell us a few words about yourself And how did you start with Kardia Chain?
Anthony Vo: Hello everyone! It’s a great pleasure to get to know the Satoshi Club community
Serg | Satoshi Club: It’s a pleasure to have you here 🙂
Tri Pham: Definitely. I’m Tri Pham co-founder & CEO at KardiaChain. I was running a tech company in London for 5 years before founding KardiaChain. My mission is to bring innovative technology to the masses and blockchain is definitely an exciting industry. I build KardiaChain with the belief that we can drive mass adoption and build a better society with blockchain.
Serg | Satoshi Club: What company was it? Is it still functioning? smth related to fintech? London is a hub for this
Tri Pham: I was building apps for businesses, not really fintech but I did base the office in the “silicon roundabout” near Old Street for a while. I stopped running this company around 2018 when I decided to move on fulltime with KardiaChain.
Irina K. | @satoshi_club: It will bring a lot of efficiency and better services in the real world for sure. Fingers crossed 🤞 What about you @anthonyvo_KDC? What is your story? 😊
Anthony Vo: I’m Anthony Vo CFO at KardiaChain. My background is financial engineer and currently run a quant team at a commercial bank in the US. I joined Tri on this great business venture with the belief that this technology that we are offering will bring a unique product to market and drive a better society that is in need of more optimized payment & processing experience
Irina K. | @satoshi_club: Thank you guys for the introductions. In the first part we have collected questions from our community via our platform
Serg | Satoshi Club: Thanks for your introductions!
Q1 from Telegram user @iulya_i
By interoperable you mean that it can work across multiple blockchains? By non-invasive? What does it mean related to your product
Tri Pham: Good question. Thanks @iulya_i , interop means that via KardiaChain, smart contracts or Dapps can read and write data from multiple blockchains. Our solution is non-invasive because we don’t require changes in any of the blockchains we connect to. at first, we will focus on major blockchains, not every available chain out there.
Irina K. | @satoshi_club: How do you cover so many blockchains?
Tri Pham: the way it works is to have a group of dual nodes in charge for each blockchain, and depend on how much traffice and value of the data crossing between that blockchain and KardiaChain, we have a mechanism in place to increase the number of nodes in the group. so more blockchains = more dual node groups
Irina K. | @satoshi_club: Ok, thank you for the explanation. We’ll cover more on Dual nodes in one of the following questions.
Q2 from bitcointalk user elissa
Please explain your partnership with Coinplug. On what are you working? Why do you need the DID alliance?
Anthony Vo: I can take this question and Tri can add more color if needed
Irina K. | @satoshi_club: We’ll have a colourful answer
Anthony Vo: KardiaChain has been taking another important step towards achieving blockchain mass adoption in Vietnam by developing a decentralized identity (DID) solution and forming the first DID alliance in Vietnam in collaboration with our South Korean partner Coinplug. Firstly, we think highly of Korean market, and Coinplug is known in the market, their solution has been widely recognized with great track record of patent holding In fact, Coinplug is a leading blockchain solutions provider for enterprises in South Korea, having developed blockchain solutions for Korea’s largest enterprises such as LG, Hyundai and KB국민은 — Coinplug is the #1 blockchain patent holder in Korea and top in the world.
Irina K. | @satoshi_club: That’s impressive. Kudos
Anthony Vo: Our exciting partnership with Coinplug will help to accelerate our initiative to co-develop DID based authentication services in Vietnam. Vietnamese Government has been actively supporting and pushing for industry 4.0 technological innovation such as blockchain and 5G, as a leading enterprise and government blockchain project in Vietnam. KardiaChain is uniquely positioned to be able to integrate DID solutions on large-scale across top enterprises as well as government institutions, covering a large portion of the local population. We co-found MYKEEPiN VIETNAM (first DID alliance in Vietnam). MYKEEPiN is a user-friendly identity verification and authentication service that leverages DID and self-sovereign identity (SSI) technology
Irina K. | @satoshi_club: Is it already running? Or it’s still in dev mode?
Tri Pham: It’s at production level. However, the service is still waiting for rollout. We still have to integrate with the attestation agency (AA) such as telecom
Anthony Vo: As Vietnamese government has set priority to improve the digitalized infrastructure, the DiD will be the key for optimized payment and other online services and we are quite excited about this initiative!
Irina K. | @satoshi_club: When do you expect people to start using it? I mean when will it benefit the Vietnamese citizens for real?
Tri Pham: I’m looking at end of 2020. Lots of work in getting more AA and onboarding service providers.
Serg | Satoshi Club: Thanks for this thorough explanation
Q3 from bitcointalk user nyosant
Dual Nodes seem a great solution since they allow accessing two chains simultaneously (KardiaChain plus another blockchain). However, what would happen if a company decides to move from one blockchain to another, for instance from ETH to NEO? Would dual nodes allow that kind of changes and how? It was partially covered but there are still some things to be explained
Tri Pham: that’s true Let me rephrase the question first. Nyosant is asking if a dual node operator can switch his support to another network. For example, he is running KAI-ETH dual node, and now want to support NEO. For the time being, the switch from KAI-ETH to KAI-NEO is a manual process. We will provide necessary scripts and debug tools to help the switch smoothly In the future, we will combine ESWIM (Elastic Sharding With Incentive Mechanism) so Dual Nodes switch process can happen automatically when the incentive to switch is high enough
Irina K. | @satoshi_club: Who’s determining the value of the incentive?
Tri Pham: We let the network decides. ie. validators
Serg | Satoshi Club: BTW, I have a little question :blush: Can you tell us why a project would want to use 2 blockchains at the same time? What benefit do they have? For example KAI-ETH
Tri Pham: The need of using multiple blockchains arises when a Dapp want to: 1) expose to a wider user base, like both ETH and NEO users, 2) leverage the current applications and data available in different blockchains, such as trading NFT Crypto Kitties and Crypto Dogs, 3) use each blockchain for its own advantage, like cheap fee in TRON and more stability in ETH. And there are always DEXs, but now can do crosschain settlement, like NEP5 to ERC20.
Q4 from Telegram user @antonerem
I’ve seen that you have implemented a solution for a taxi platform in Vietnam. How can a a Blockchain technology improve the taxi platform? What are the new things you brought?
Anthony Vo: Thank you Anton Erem for following KardiaChain and bring this exciting news to the community We at Kardiachain, with the collaboration of our growing list of partners, are placing ourselves at the forefront of Vietnam’s acceleration towards a cashless society. Green Card is our Mai Linh’s most recent take on digital transformation. The Main Linh company is one of the biggest players in a competitive taxi industry in Vietnam. Our partnership with them benefit both of us. From our perspective, it will accelerate our vision to wider user base and create more business usability for Kai holders. From their perspective, our innovative tech will help the company to offer a more optimized payment experience to their riders
Serg | Satoshi Club: they will be able to pay with KAI? or how exactly does it work?
Anthony Vo: That’s correct. They can pay with Kai or fiat.
Irina K. | @satoshi_club: Is there other functionality besides payment?
Anthony Vo: as for now, an effortless payment with QR and NFC is our priority, but I’m sure other opportunities will arise
Q5 from Telegram user Crypt0M0nk3y
With your business case with Vietnam government, are you planning to expand to other countries with similar characteristics of a high percentage of unbanked population (ie. Latin America)?
Tri Pham: I got this one quite a few times 🙂 I have to say our focus is on Vietnam until we onboard most of the population to blockchain. Some of our partners already have services in several countries like you described. I did have some thoughts about this. But I love “think big and start small” 🙂
Serg | Satoshi Club: That makes sense 🙂
Irina K. | @satoshi_club: That’s a good attitude. It’s always better when you do first, and then move forward.
Q6 from Telegram Username @alpulusoy
As far as I know, the Kardia Smart Contract Language System (KSML) – one of the unique and innovative technologies of KardiaChain. So, to deploy a multi-chain smart contract on test net, what programming skills do users need? Why does KardiaChain claim that KSML is designed to be the optimal tool for developers to deploy multi-chain smart contracts without requiring prior in-depth knowledge or experience?
Tri Pham: good question. Let me cover this. Why does KardiaChain claim that KSML is designed to be the optimal tool for developers to deploy multi-chain smart contracts without requiring prior in-depth knowledge or experience?
By using KSML, developers will only need to write smart contract codes once on KardiaChain, this code will then be automatically translated to other smart contract programming languages like Java, Solidity, C++ and deployed on other public chains like Ethereum, NEO or Tron. This significantly lowers learning curves and DApp deployment times.
As far as we know, currently there is no tool that allows Dapp developers to comprise multiple smart contracts of different blockchains (and potentially different languages) in a single Master smart contract.
For example, there is no clean way for a Dapp developer to write something like “request account 1 on ETH to send 10 ETH to account 2, AND once that transaction is confirmed on ETH, request account 2 on NEO to return 200 NEO to account 1”.
With KSML leveraging Dual Node technology, you can specify all these operations through multiple smart contracts deployed simultaneously on ETH and NEO.
Serg | Satoshi Club: That’s a nice feature btw and I guess that there is a lot of work done to make it possible
Anthony Vo: there was indeed 🙂 We are fortunate to have a great technical team with members from top tech firms in the world (google, amazon, etc.)
Serg | Satoshi Club: Great 🙂 Thanks a lot for this good answers. In less than a minute we will open the chat for the live questions part
Part 2 — live questions from the Telegram community
Q1 from Telegram Username @Nickkiii
The only way the blockchain industry will expand and grow is if we have users that will be able to use products with ease. What are some of the unique features of Kardiachain that would help attract more users ?
Anthony Vo: You are absolutely correct! Our vision of mass adoption has led us to set our business strategies to develop partnership with traditional businesses that have millions of users. Our tech helps to make blockchain transaction invisible to end users – Mai Linh, OnSport App (television), Gelemxico (RE & banking) and many more. Your observation is spot on.
Q2 from Telegram Username @SitiA09
Blockchain has practical applications for a number of industries, such as KardiaChain’s applications for data storage, but the technology is often explained in difficult terms. How do you encourage people and businesses to adopt blockchain when many don’t understand what it really is?
Anthony Vo: Great question. Our goal is to develop Dapps that are available and accessible to end users. It’s like you don’t need to know how every piece of equipments in car work, but you can still be a wonderful driver. This strategy will help us to connect more users while minimizing education learning curve.
Q3 from Telegram Username @ilham1908
Kardiachain recently (about 1month) announced their partnership with Geleximco. What’s the main reason behind this partnership? What kinds of positive result can we expect from this partnership?
Tri Pham: Geleximco is one of the largest conglomerate in Vietnam with businesses span across industries. This partnership followed our approach in working with major players to effectively develop use cases and acquire users. Results of this will be KAI and KardiaChain technology integrated into Geleximco ecosystem, such as real estate and banking.
Q4 from Telegram Username @Orrangelp
DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us? Do you think DeFi will destroy the existing financial system? What’s Kardiachain approach towards DeFi?
Anthony Vo: DeFi is definitely one of the hottest topics in the field. We are having a couple of products in our pipeline but a bit premature to announce. I personally don’t think that DeFi will destroy the existing financial structure, it should be supplementary factor for the areas that need to be more optimized and there is a ton of them.
Q5 from Telegram Username @Orrangelp
I saw on your platform that one of your ecosystem products is “ESWIM”. Can you explain what is the role of ESWIM in Kardiachain ecosystem & How it work?
Tri Pham: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee that the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security.
The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we do some ML with complex computation to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem.
Then we can incentivize the validators to stay in one group or move to other groups through different methods like increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups already have more validators etc.
Q6 from Telegram Username @melanintrish
Marketing is a central element for every project, so that everyone knows the potential that a project can bring. What is your strategy to attract new users and Investor to Kardiachain and keep them long term?
Anthony Vo: Your observation is spot on. We are paying very close attention to the marketing aspect. Recently, we are very excited to have a new CBO Johhny that joins our team. He is a seasoned business specialist and outlined a detailed roadmap for Kardia to reach a significant number of users from now to end of 2020 as well as longer team. We shall have these information available when the time is right 🙂
Q7 from Telegram Username @CrypTo_Damiya
How do you plan to explain such technical topics to a wider audience? How do you plan to show the world that your product is not just another useless blockchain solution to a non-existing poblem
Tri Pham: We are doing exactly the opposite. We want our blockchain technology invisible to end-users, like internet and electricity. Users will only see the benefits of having control over their token and can exchange for products and services. They can earn, store, stake and use KAI without learning about blockchain.
Q8 from Telegram Username @Sadikst
How will KardiaChain resolve three major pain points for crypto investors: diversity, value, and convenience? Which specific about technology and strategy of KardiaChain that make you believe it will be successful?
Anthony Vo: It’s a great question Angel. We are well aware of these pain points and hence, our current strategies in place are to minimize / avoid them for Kai holders. Our partnerships with many traditional businesses would allow Kai holders and investors to conveniently use their Kai without technical barrier. Our service-providing partners range from television, telephone, taxi, airline, and others really help to diversify the portfolio and use cases for Kai. These two reasons along with our interop fuctionality of our core tech help to drive the value of Kai
Q9 from Telegram Username @Sadikst
There are users who do not have much technical knowledge about this whole crypto world. What does kardiachain offer these users? the platform, the app is designed with these users in mind?
Tri Pham: This is the reason why we are working with major service providers to avoiding educating the market. KardiaChain and KAI will be integrated in the background. Our partners will help onboard and guide users as they understand their users much much better than us.
Q10 from Telegram Username @Rojib_mia
Can #KARDIACHAIN give me 3 main points to connect me and other angel investors to invest in long-term?
Anthony Vo: 1) Our track record of sucesses in providing innovative blockchain-driven solutions to partners in traditional business setting 2) The company is supported by local government; hence minimal legality obstacle to bring blockchain to mass adoption 3) Kai has appreciated in value significantly since it began listing on more popular platforms and there will be more
Part 3 – Quiz Results
In the final part we would like you to check your knowledge in terms of KardiaChain. They’ve prepared 4 questions for this part, so everyone could be a part and answer. All the correct answers you will find at the bottom of this Recap. Enjoy!
Q1
Fill in the blank “KardiaChain is the world’s first …. interoperable and non-invasive blockchain platform.”
A. Fully
B. Feasible
C. technical
Q2
What does KardiaChain’s ADapp mean and what is our strategy for achieving mass adoption?
A. – Adoption Dapp, collaborate with top enterprises and government bodies to decentralize their existing products/services
B. – Advertising Dapp, collaborate with top enterprises and government bodies to decentralize their existing products/services
C. – Advertising Dapp, collaborate with SMEs to decentralize their existing products/services
Q3
What is the product that we and our partner Mai Linh Taxi the biggest taxi company in Vietnam together launch for convenient rides?
A– TaxiCrypt card
B– Blue Card KardiaChain
C– Ride Card for KAI holders
D– Green Card
Q4
What is the company name of MYKEEPin ALLIANCE that KardiaChain also partners with to build a DID alliance in Vietnam?
A. Metadium
B. Coinplug
C. KAYBO
D. LG CNS
Answers
A.
A.
D.
B.
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/
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.
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Part 3: 300$ – A quiz about ATROMG8
For more details:
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Part 1: 400$ /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: 400$/15 users – Open chat for 80 seconds. You can post Max 5 questions. RMPL Team will select 15 questions and answer them.
Part 3: 1200$ – A quiz about RMPL
For more details:
RMPL – @RMPLTG
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Part 1: 150USDT/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: 150USDT/10 users – Open chat for 80 seconds. You can post Max 5 questions. Sperax Team will select 10 questions and answer them.
Part 3: 300USDT – A quiz about Sperax
For more details:
Sperax – @sperax
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Barter Trade Team will select 10 questions and answer them.
Part 3: 450$ – A quiz about Barter Trade
For more details:
Barter Trade – @BarterTradeofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
