AskFeebs: The 0Chain Minute— June 25, 2020
Each week, 0Chain hosts an AMA with 0Chain’s Operations Director, Derick Fiebiger, to address questions from the community. Without further delay, let’s dive into this weeks episode:
Greeting
- Welcome to AskFeebs — a weekly address where your questions on crypto and 0Chain are answered. My name is Derick Fiebiger. I launched a cryptocurrency hedge fund in 2018 called Arturo Capital, and currently sit as Director of Operations for 0Chain. 0Chain is an ambitious blockchain project focusing on decentralizing data storage and tokenizing the value of that storage through a crypto asset, ZCN.
0Chain Highlights
- This week’s episode of The 0Chain Minute highlights a variety of questions about tech, BetaNet, the role of advisors and more.
- 0Chain is an ambitious blockchain project focusing on decentralizing data storage and tokenizing the value of that asset through their ZCN token. The focus of this channel is to focus on briefing the community on 0Chain updates and providing insightful answers to community questions.
- Wanting answers to your questions on the next episode of AskFeebs? You can message Chad, our Community Manager, via Telegram or submit them via Twitter from our weekly thread. One disclaimer on questions, we want questions that cannot be easily found on Telegram, etc. These will be questions that require some more in-depth answers from the team.
Questions & Answers
Feebs: We have quite a few questions to go over. Clearly growing anticipation as we head into BetaNet. There has been a lot going on behind the scenes both from a development perspective and a token liquidity perspective over the past few weeks. So I apologize for the gap in episodes. The ultimate irony is that 0Chain is the busiest it’s ever been, yet it may appear on the surface, like Telegram and other social media channels, as though things have been quiet, but it’s quite the opposite.
I’m very excited to share all the progress once things are finalized. All I will say is that both View Change on the dev side and liquidity on the token side have been monolithic action items and are close to reaching some nice checkpoints.
Before going into questions, I’d like to say good morning to you guys. I’m experimenting with trying to get an episode done quickly on a weekday during the morning hours. Ideally I’d like to do more editing, and be more thorough with answers, but I think more frequent episodes with less editing are more favorable than less frequent. Let me know your thoughts in the comments!
Question 1: Will the infrastructure for the block worker be operated by 0Chain LLC? Or will the infra be decentralized as well? Is there redundancy? currently this seems to be planned as one server. (one DNS record, with one A-record…)
— Chris K
- Anyone can run blockworker and have their own URL and duplicate what 0Chain DNS will accomplish. And then on the client end, they need to change the blockworker URL to the user-defined one
Question 2: Regarding BetaNet: will we need our own tokens for MSB services in betanet, or will this only be necessary in MainNet?
— Chris K
- No you will not need your own tokens. BetaNet will leverage test-tokens, not your real ZCN.
Question 3: Did you consider working with baseline protocol?
— Cryptor
- We’re looking at them. Chad did speak with them about potential involvement moving forward. It was a helpful phone call and gave us some good ideas about how to get involved. These seemed very welcoming to the idea of dStorage, but it would take a bit of work on our end to get into the community. So this is something that could be looked into after we reach our main objectives.)
- Currently our priority is on shipping BetaNet, so the exploration of crypto partnerships and collaborations will play a more significant role as our tech reaches MainNet.
Question 4: the ZCN token utility is exclusive for payment or it’s a combination of ZCN and fiat? Or there is a Treasury function that buys for enterprises the token?
— Pete Bull
- Contract agreements on the public network between Storage Providers and Customers can only be completed through ZCN. This means that there is no other currency that can be used at the base layer to leverage storage on the 0Chain network. If there is any fiat feature, it will be through a third-party app and any storage that’s provided on the network will utilize ZCN on the back end.
Question 5: will there be a ZCN compatible app on Nano Ledger?
— Bobskinaners
- It’s certainly possible but definitely not a priority from the core dev team right now because we’ve already built our own wallet technology that uses a creative server-less multi authentication to secure it. Using a Nano is great for basic crypto wallets on chains like Bitcoin and Ethereum, but since we have staking, interest, storage, view change, etc it was important to build our own tech that would make 0Chain easy to use. Instead of trying to retrofit all of these features into some other company’s hardware wallet.
Question 6: Regarding the scammer/hacker, will their wallet be blacklisted from tokenswap? If so, will this decrease the total number of tokens/supply?
— hdban
- There’s a nice plan underway for dealing with the scammer. Government officials are tracking the IP addresses that are connecting into exchanges among other things, so we don’t want to disrupt their process of catching the criminals by revealing any future strategies.
Question 7: What is the role of the advisors listed on the website?
— hdban
- Our advisors have made a broad spectrum of contributions, with most of them having made contributions to the protocols. Some advisors have contributed to our economics architecture, some to wallet security, and others to consensus and storage. Others have helped with networking into the right circles.
Question 8: Community Mining, how many mining/sharder nodes does the team intend to run and how much tokens do they intend to stake per node? What’s the total number of nodes in the active set? And every how many blocks does the view change occur?
--Mo
- Its TBD on number of nodes the team will run but at least 4, and likely 1/3 of circulating tokens distributed over “good” nodes, where “good” are people we identify as good service providers.
- Total nodes expected to be 100 miners/30 sharders or 50 miners/25 sharders, this spec could be adjusted based on BetaNet performance and turnout of credible service providers, etc.
- TBD on ViewChange frequency. We can do as quickly as 20s, but in reality we want to do it slower, likely once per week.
- Node quality consideration — number of produced blocks by miner, sharder response time, challenge completion time by blobber (passed/failed challenges)
- 0Chain will look at performance data in addition to engaging with the operator prior to delegation. We want to delegate to nodes with an organized vision and long term business intentions.
Thanks for taking the time to read and watch our AMA. Please tune in for the next episode of AskFeebs. Please subscribe to our channels and keep your eyes open for our next episode of AskFeebs.
