Mary | Satoshi Club<\/strong>:\nHello Satoshi Club! We are happy to announce our AMA session with Paralink\nNetwork! Welcome to Satoshi Club😀<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nHello, dear Satoshi Clubbers!<\/p>\n\n\n\n We are pleased to announce our AMA with Paralink\nNetwork😊<\/p>\n\n\n\n Today our guest is @janknezevic!<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nHi everyone great to be here!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nWelcome to Satoshi Club, @janknezevic!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nHello, Jan! how’s going?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nGreat! We are working hard as our countries are in lockdown, so we don’t have\nany distractions or missed opportunities as there is nothing else to do but\nwork:)<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nTo begin with, please tell us a few words about yourselves and how did you get\nto be involved in Paralink Network😊<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nYes, you’re right! And i am happy that we have great opportunity to work from\nhome!<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nI am Jan Knezevic and im the CEO of Paralink Network. My background is in\nbusiness and economics- more specifically i worked as an auditor for KPMG , i\nwas an actuary in a life insurance company and later on i transitioned into\nconsulting blockchain projects with accounting and business development as well as conducting internal audits. Last\nyear i was part of a team that acted like a data vendor for blockchain data, we\ncollected pricing, on chain and sentiment data and created qualitative\nindicators for traders. I was also an active day and swing trader on the stock\nmarket trading stocks and stock options and later on transitioned into trading\ncryptocurrencies.<\/p>\n\n\n\n We decided to build Paralink Network in q2 of 2020\nafter looking at other oracle solutions and seeing that the technology stack\nthey are built on isn\u2019t sufficient for providing a stable and resilient\nservice. That is why we decided to build on polkadot to achieve higher\nthroughput and add sufficiently expressive ETL systems and an advanced querying\nlanguage which we felt were lacking in the current solutions.<\/p>\n\n\n\n Gold Rocket | Satoshi Club: <\/strong>Great\nexperience! 👍<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nKPMG, familiar name! I like your experience 👍<\/p>\n\n\n\n It’s interesting, that you learned about blockchain\nfrom your work😀<\/p>\n\n\n\n Usually people are coming on the wave of hype 😉<\/p>\n\n\n\n Polkadot developing fast, so i can understand your\nchoice 👍<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nThank you very much for great intro! Are you ready to proceed to the questions\nfrom the community?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nYeah sure<\/p>\n\n\n\n Q1 from Telegram user @Xusuo<\/em><\/strong><\/p>\n\n\n\n I read that Paralink Network was build on\nPolkadot but in the same site you also build your own Token on the Ethereum\nERC20, can you explain the reason, isn\u2019t this will make a contradiction?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nParalink network is chain agnostic. We want to implement our solution to all\nmajor blockchains. We decided to launch an ERC-20 token first as it is a accepted\nstandard that all exchanges support already and because the current DEFI\necosystem exists mainly on ethereum. When we obtain a parachain we will launch\na parachain native token which will be interchangeable 1:1 with ERC 20 token\nand centralized exchanges will act as intermediaries between the 2. Kind of\nlike with USDT where it runs on 9 different chains and most users don’t even\nknow that.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nGot it👍<\/p>\n\n\n\n When do you plan to obtain parachain?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nThe initial auction is probably out of reach for us as we think the cost will\nbe between 10-25mio $. We believe the cost will go down significantly in the\nlatter auctions as the exclusivity of the initial auction fades away. That is\nwhen we plan to obtain a parachain slot. There is an option to obtain it in the\ninitial auction if enough users stake their DOTs for us. We are in talks with\nexchanges who can provide this mechanism and if we list there we might get\nenough users to stake their DOTs so that we can obtain the slot in the initial\nauction, but there is always an uncertainty as there are many great projects\ncompeting for a limited amount of slots.<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nWell! You thought this whole process well enough! 👏👏👏<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Thank\nyou! It’s clear now 😊<\/p>\n\n\n\n Ready to proceed?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nYes<\/p>\n\n\n\n Q2 from Telegram user @Indomiekuy<\/em><\/strong><\/p>\n\n\n\n Paralink Network have Token (PARA) that can be\nused for an incentive and governance Token. But can you explain what incentive\nthat holder will get? Can we also stake PARA Token and what is the benefit from\nstaking?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>First\nof all, its used to pay the transaction costs of the callbacks as well as for\nservices provided by the relayer quorums. <\/p>\n\n\n\n Besides this, its also serves an important role for\nincentives -so it can be staked into the relayer quorums – and those get\nrewarded for providing useful work – also the other way around – slashed for\nmisbehaviour.<\/p>\n\n\n\n Its also a governance token, so you can vote for\ncollators on the parachain as well as calibrating other parameters through the\necosystem.<\/p>\n\n\n\n And lastly, you can use it to provide liquidity in\nPARA AMMs and earn more of them.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nWhen staking will start?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nThe exact date is not known yet Q2 or Q3 of this year.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nHow PARA tokens will be distributed?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nThe private sale rounds will be distributed over the course of 1 year in 5\nbatches. On average around 20 % each quarter after TGE. Team tokens will be\ndistributed over the course of 2 years with a cliff at 6 months after TGE. For\nmore information check here: https:\/\/blog.paralink.network\/para-tokenomics\/<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nThanks! Nice distribution model😀<\/p>\n\n\n\n Ready for the next question?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>yes<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nthanks a lot for the answers!<\/p>\n\n\n\n Q3 from Telegram user @alice_wonderland12<\/em><\/strong><\/p>\n\n\n\n The\ndata required is searched in the oracle through the Paralink Query Language,\nwhat are the particularities of this language? Doesn\u2019t it limitate the\napplications that can use it, due to translation problems or makes more\ndifficult the understanding of the oracle?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nParalink data requests can be made via PQL definitions, which are JSON based\ndescriptions of ETL (Extract, Transform & Load) jobs. PQL queries are done\nvia SQL like interface which generalizes over common data structures (JSON,\nXML, SQL), and includes basic post processing utilities such as math functions\nand type casting.<\/p>\n\n\n\n The data collected from multiple sources and\naggregated with a function like median or mean, validated using validation\nconditions and then returned to the caller’s smart contract of choice via the\ncallback.<\/p>\n\n\n\n https:\/\/docs.paralink.network\/developer-guide\/paralink-query-language.html\/<\/a><\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nSo, users won’t have any translation problems and limitations?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nNo<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nGreat😀<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nWe will also create a drag and drop easy to use UI for PQL so that non developers\ncan also use it.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nThat’s a great idea, because not all of us are familiar with tech things😉<\/p>\n\n\n\n Ready for the next question?<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nOh it really matters👍<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nyes<\/p>\n\n\n\n Q4 from Telegram User @Arisabela<\/em><\/strong><\/p>\n\n\n\n One of Paralink services use cases is\nderivatives and money market, which enables realtime asset pricing, that\u2019s a\nlot of data to manage, how is Paralink accessing in a secure and efficient way\nto provide all this data from the money markets?<\/strong><\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\n👀<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nTo satisfy all kinds of applications, Paralink offers 3 security models with\ndifferent cost, convenience and security characteristics.<\/p>\n\n\n\n Simple Oracle<\/p>\n\n\n\n Paralink Nodes can be used as a multi-chain oracle\nfrom any 3rd party data source by any developer.<\/p>\n\n\n\n Trusted Oracle<\/p>\n\n\n\n Simple Oracle can be upgraded by the virtue of\ncryptographically signed PQL results with ECDSA private keys from reputable\ndata providers.<\/p>\n\n\n\n On-Chain Consensus<\/p>\n\n\n\n For applications that require the highest level of\nsecurity, without having to rely on a single source of truth.<\/p>\n\n\n\n For real time pricing of derivatives the suitable\noptions are Trusted oracle and On-Chain consensus. The first one is cheaper to\nuse but has to rely on the trustworthiness of the trusted source of\ninformation, which can have serious consequences as we saw in the last few\nmonths when outages of APIs have unfairly liquidated derivatives holders. This\nis why we created the On-Chain consensus solution which is unique to Paralink.\nWith it you will be able to get information from multiple sources and thereby\nincreasing resilience and accuracy of the data. \nThe throughput needed for real time pricing will be available when\nPolkadot launches as it is unfeasible with the the current technology stack.<\/p>\n\n\n\n For pros and cons of each solution check here:<\/p>\n\n\n\n https:\/\/docs.paralink.network\/whitepaper\/security.html\/<\/a><\/p>\n\n\n\n https:\/\/docs.paralink.network\/whitepaper\/consensus.html\/<\/a><\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nThanks for sharing!👍<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nRequires the use of bridges, ie. Polkadot <> Ethereum, so not all chains\nare supported. Which next chain support you will add?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>We\nwill use Darwinias bridge for ethereum. We have already integrated with Plasm\nand are working on the integration with Moonbeam and many others. Integrations\ntake a lot of development time which is why we will constantly add blockchains\nwe support. The use of bridges is needed for the relayer quorum solution as\naggregation on chain is unfeasible on ethereum because of the gas costs.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nSure! And i understand your concern about gas costs🤷 hope we will see\nbetter numbers in the nearest future!<\/p>\n\n\n\n Ready to jump to the next question?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nyes<\/p>\n\n\n\n Q5 from Telegram user @yellowchamp<\/em><\/strong><\/p>\n\n\n\n Part of your roadmap this Q1 2021 is the TGE\nor Token Generation Event for Paralink Network. So can you tell us the overview\nof this Token Generation Event(TGE) in your platform? How can we participate in\nthis event? What are the qualifications and requirements? What are the benefits\nfor early adopters of this event? Thank you<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nThe TGE will take place before exchange listing. Unfortunately the private sale\nis closed already so the only way to buy the token will be on an exchange or\nOTC after TGE. We are creating an ambasador program where applicants will get\nrewarded in PARA tokens which they will receive at TGE before listing on\nexchange. Token rewards will be available constantly through our community\nengagement activities such as meme contests and similar activities.<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong>:\nSounds good 😊<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nOh, i know some our members like meme contests so much😂<\/p>\n\n\n\n This ambassador program will go in the nearest future?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nYes<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nGreat! We will follow your updates!<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nwe will inform everyone about it through our social media channels<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nSure! Thank you!<\/p>\n\n\n\n Ready for the 6th and last question from this part?<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nyes<\/p>\n\n\n\n Q6 from Telegram user @garrinepotter <\/em><\/strong><\/p>\n\n\n\n You have launched developer testnet. How\nactive is the work? Perhaps you can share with us what interesting things you\nare developing now?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nWe are very active on the development side. We open sourced our node last month\nand as stated launched developer testnet. We are preparing a block explorer\nwhich will be launched in the near future. We are also adding new features to\nthe testnet soon. Development is currently split between integrations with\nother blockchains and building our own product. We are onboarding new\ndevelopers as we finished with fundraising so we have an option to expand the\nteam. We have received pull requests already and some of the devs interested in\ncontributing are already on a trial period. If anyone is interested here please\nfeel free to take a look. We are improving the documentation every day and any\nfeedback is greatly appreciated.<\/p>\n\n\n\n https:\/\/github.com\/paralink-network\/<\/a><\/p>\n\n\n\n https:\/\/docs.paralink.network\/developer-guide\/getting-started.html\/<\/a><\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nThanks! Sure a lot of developers will join!<\/p>\n\n\n\n Ready to start with the live part?😀<\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nYes<\/p>\n\n\n\n Mary | Satoshi Club<\/strong>:\nLet’s go 🚀<\/p>\n\n\n\n Q1 from Telegram user @Abisola1<\/em><\/strong><\/p>\n\n\n\n Can you list your notable investors? Are\nthey well-known in the industry? @janknezevic<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nLD capital, NGC, Kenetic, Genesis block, 3 commas, Bitcoin.com. They are\nhelping us throughout the way with their connections advisory and introductions\nto other projects in their portfolios for potential partnerships.<\/p>\n\n\n\n Q2 from Telegram user @Joesunda<\/em><\/strong><\/strong><\/p>\n\n\n\n According to its tokenomics there is no\namount in the public sale, is that to say why there was no public sale and why?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nWe have decided not to host a public sale as the existing platforms don’t\nprovide a fair random distribution. The interest for the public sale was also\nmuch larger than expected and most of the interested buyers would get left out.\nThese are the reasons we decided against it. In the tokenomics you can see the\nchanges with timestamps. The public sale was supposed to be 0,44% of the total\nsupply.<\/p>\n\n\n\n Q3 from Telegram user @Boylut<\/em><\/strong><\/strong><\/p>\n\n\n\n There is a lot of demand for GraphQL, do\nyou have any plan of adding it integration? @janknezevic<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nIt already supports GraphQL<\/p>\n\n\n\n Q4 from Telegram user @DanielMZ21<\/em><\/strong><\/strong><\/p>\n\n\n\n ill Paralink obtain a parachain on\nPolkadot? Or do you only plan to use Kusama for now?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nWe will launch on Kusama first and afterwards obtain a parachain slot on\nPolkadot. The details of slot obtainment are explained in the earlier answers.<\/p>\n\n\n\n Q5 from Telegram user @tuvalunia<\/em><\/strong><\/strong><\/p>\n\n\n\n There are several oracle platforms. Why\nshould we choose Paralink?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nI\u2019d like to show you a comparison table so you can have a clear picture about\nthe advantages that we have over the current competitors. One of the biggest\nadditions is the advanced queries and ETLs. We believe this will change the way\npeople build dapps and think about data ingress into smart contracts. <\/p>\n\n\n\n Also, having cross-chain capabilities while maintaining\non-chain validation and aggregation gives us the flexibility to do the kind of\nprocessing never possible before.<\/p>\n\n\n\n Q6 from Telegram user @bangolbd<\/em><\/strong><\/strong><\/p>\n\n\n\n What are your plans for the 2021 in terms\nof developing? @janknezevic<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107<\/strong>:\nBlock explorer, improve functionalities of testnet, Launch a parachain on\nRococo testnet, PARA staking and rewards, Deploy Paralink as parachain on\nKusama network, Data stream reliability explorer, Quorums reputation tracking,\nDeploy Paralink as parachain on Polkadot ( depends on when we obtain a slot)<\/p>\n\n\n\n Q7 from Telegram user @CryptoDurden<\/em><\/strong><\/strong><\/p>\n\n\n\n If Ethereum 2.0 ultimately delivers better\nfunctionality than Polkadot. Are you moving to Ethereum 2.0 or are you\ncontinuing to develop infrastructure on Polkadot?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>We\ndecided to build on Polkadot as we think that they will deliver a functional\nsolution much earlier than Ethereum 2.0 which is currently in phase 0. As soon\nas there is a better technology stack we will focus our attention on it but for\nthe foreseeable future we are betting that Polkadot will be the most functional\necosystem.<\/p>\n\n\n\n Q8 from Telegram user @Unknown_Mark<\/em><\/strong><\/strong><\/p>\n\n\n\n From your website I saw that accessing\nreal-world data is easy with Paralink Query Language and a community maintained\nregistry of PQL querie , can you please tell me what is Paralink Query\nLanguage? I mean how can I benefit from using it ?<\/strong><\/p>\n\n\n\n Thanks<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>Paralink\ndata requests can be made via PQL definitions, which are JSON based\ndescriptions of ETL (Extract, Transform & Load) jobs. PQL queries are done\nvia SQL like interface which generalizes over common data structures (JSON,\nXML, SQL), and includes basic post processing utilities such as math functions\nand type casting.<\/p>\n\n\n\n The data collected from multiple sources and\naggregated with a function like median or mean, validated using validation\nconditions and then returned to the caller’s smart contract of choice via the\ncallback.<\/p>\n\n\n\n https:\/\/docs.paralink.network\/whitepaper\/PQL.html\/<\/a><\/p>\n\n\n\n https:\/\/docs.paralink.network\/developer-guide\/paralink-query-language.html\/<\/a><\/p>\n\n\n\n Q9 from Telegram user @Giniwhite<\/em><\/strong><\/strong><\/p>\n\n\n\n Is there a reason why Paralink is building\na consensus module with Polkadot’s substrate? What advantages does this provide\nfor your project?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>Because\nPolkadot allow incomparably higher throughput which makes the on real time\ninformation with chain consensus model feasible.<\/p>\n\n\n\n Q10 from Telegram user @PerishepaTrade<\/em><\/strong><\/strong><\/p>\n\n\n\n Can you tell us more about the Darwinia\nintegration? Can I join the testnet?<\/strong><\/p>\n\n\n\n Jan Kne\u017eevi\u0107: <\/strong>Anyone\ncan join testnet.<\/p>\n\n\n\n Some data sources require more security than others.\nOne such example are the real-time price feeds to be used in decentralized\nderivative and money markets, where any corruption in the price feeds can\nresult in large financial losses. For this use case, a reputable quorum of\nrelayers with on-chain coordination, validation and aggregation mechanisms is\nrequired. Performing such consensus algorithm at high frequency is\nprohibitively expensive on Ethereum due to low throughput and high gas costs.\nFor this reason, Paralink on-chain consensus algorithm is being built using\nPolkadot and its Substrate stack.<\/p>\n\n\n\n A parachain with oracle quorums is great for the\nPolkadot ecosystem as it provides a reliable and trustworthy oracle platform\nthe for other parachains. However it would be great if the results of on-chain\noracle aggregation and validation could be relayed to other chains such as\nEthereum as well.<\/p>\n\n\n\n This is there the Darwinia Bridge Chain comes into\nplay. Darwinia is building a first truly decentralized bridge solution, which\nis the primary candidate for solving our problem of relaying our computation\nresults to non-Polkadot chains.<\/p>\n\n\n\n https:\/\/blog.paralink.network\/paralink-is-integrating-with-darwinia\/<\/a><\/p>\n\n\n\n As usual,\nfor the third part, Satoshi Club Team asked the chat 4 questions about the\ncrypto project. A link to a Quiz form was sent into the chat.<\/p>\n\n\n\n For more information and\nfuture AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n English\nTelegram group: https:\/\/t.me\/Satoshi_club\/<\/a> <\/p>\n\n\n\n Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru\/<\/a> <\/p>\n\n\n\n Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish\/<\/a> <\/p>\n\n\n\nPart 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
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<\/figure>\n\n\n\nPart 3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n