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Transcript of 0chain AMA #1 with Saswata Basu, 0chain CEO (January 18, 2019)

0chain has begun a live, monthly AMA featuring Saswata Basu and/or other members of the core 0chain dev team. The AMA will be held on the third Friday of each month at 1pm PST (unless specified otherwise).

Below is the transcript from January’s AMA, which was held on Telegram on January 18, 2019:

Saswata Basu | 0chain:
Hi Guys, I’m here. AMA is on. Happy to answer questions.

whoami ?:
hello saswata…

what is the minimum coins needed to stake and is staking available right from day1 after mainnet in march ?

Saswata Basu | 0chain:
Locking or Staking is available from day 1 after mainnet is live. No minimum for locking. For staking, it depends if you’re a miner, sharder, or blobber.

whoami ?:
ok thanks,, plans to release android wallet ? and 0box is a web app or mobile app ?

Saswata Basu | 0chain:
Android, iOS mobile apps, Desktop (Mac), and Web app

whoami ?:
all these along with mainnet ? that great …

Siva dirisala is one my colleague in my previous company and i strolgly bieleve in his technical abilitiles.. and i’m hoping he is going to be part of 0chain for longterm.

Saswata Basu | 0chain:
Yes he is a super rock star, among all our rock stars.

whoami ?:
yep…last time i heard TPS was around 1000, any improvements on the numbers ?

also with such huge TPS onchain data might be in GB’s per day right, how are we handling that ?

Saswata Basu | 0chain:
We don’t see high TPS as a real issue since we self-fork and are infinitely scalable. We can do much more than 1000. Its a function of cores, memory, network, and IO ops. But all of this translates to a higher infrastructure cost. We don’t think we will have this issue, as most crypto don’t have that many transactions to date. Besides, we can self-fork and vertically scale, which is the right architecture

whoami ?:
along with mainnet are you planning to release sdk’s for node js, java and python ?

Saswata Basu | 0chain:
Node js sdks. Yes will release code prior to mainnet live

whoami ?:
any enterprises lined up to use 0box after mainnet is live ?

Saswata Basu | 0chain:
The strategy is to first do a C2C and then engage enterprises…while we talk to them, I don’t think they will jump in right away. More like, developers will use them first

whoami ?:
right… i’m very excited for SDK’s, mainnet and planning to build a demo dapp on 0chain.. all the best for mainnet release

whoami ?:
any plans for major exchanges after mainnet ?

Saswata Basu | 0chain:
We plan to go with exchanges that are legit and upcoming

whoami ?:
what will be the initial supply, max supply and inflation rate aftre mainnet ?

Saswata Basu | 0chain:
Initial about 65m, no max, inflation rate set initially to 10%

whoami ?:
how many developers you have in core development team ?

Saswata Basu | 0chain:
all on the website — they are all pretty much active otherwise they won’t be listed there

whoami ?:
for 0box and DAPS on 0chain ?

Saswata Basu | 0chain:
No dApps on 0chain.

whoami ?:
any plans to give incentives for daps on 0chain ?

Saswata Basu | 0chain:
like what

whoami ?:
like fund the team if they are building something exciting which might help 0chain gain userbase

Saswata Basu | 0chain:
We’ll see. We’re a small team, handling too many customers is a big problem

…..

Cicero:
Hello Saswata!

How exactly is gonna work the off-chain communication/agreement between blobbers and clientes?

Saswata Basu | 0chain:
clients provide signed write or read markers, which blobbers collect to redeem on 0chainNet

Cicero:
For those who does not need storage is better to stake zcn as a sharder or just lock?

Saswata Basu | 0chain:
Anyone can lock token to earn interest. As a service provider, when you stake (lock) you earn interest + service rewards

Cicero:
How do you intend to guarantee that 0box is a trustable service for those people who are not familiar with blockchain?

Saswata Basu | 0chain:
They can see their transactions on the blockchain if they want to look deeper…its a learning process

Cicero:
About the “smart sync”, how is it gonna work?

Saswata Basu | 0chain:
We will have details end of the month

…..

daniel:
Hi,
I would like to know if theres any big marketing planed for after token swap & mainnet?

Saswata Basu | 0chain:
Yes

…..

Dr.Mike:
When can we begin staking?

Saswata Basu | 0chain:
Day 1

Dr.Mike:
I still have my ZCN on eth wallet do i need to swap to mainnet tokens?

Saswata Basu | 0chain:
Yes. Details will be available in Feb/Mar

…..

Chad:
Hi Saswata

Feebs had said you could provide an update about the AWS and Oracle. What info can you provide about our status with these companies?

Saswata Basu | 0chain:
I’ll provide an update next week via Twitter.

Chad:
Thank you!

Chad:
When can we expect the re-encryption white paper? I saw in the other white papers that storage providers are required to stake to back their word. Will this be the same for clients who want to monetize their data? To help protect from piracy/copyright Infringement. Or what other steps will be used?

Saswata Basu | 0chain:
soon… Regarding clients who want to monetize data, I’m not sure yet. We can have governance protocol handle that as it is difficult to dispute without proper evidence.

…..

MoritzA:
What do i have to do if i have a significant zcn amount in bitfinex After swap. Will they automatisch be credited? Thanks

MoritzA:
What makes you sure that 0chain will be the fastest blockchain amongst all other?

Saswata Basu | 0chain:
Our consensus paper will explain in more detail. But a smaller active set without sacrificing network security, and the notion of a better communication protocol enables us to be faster than any other protocol.

…..

Johnny Crypto:
Presumably the team will stake tokens to secure the network..what is the plan with the token rewards the team staking accrues?

Saswata Basu | 0chain:
Don’t know yet. Our goal is always to increase awareness and usage of ZCN tokens

Johnny Crypto:
One of the criticisms of 0chain is that there is roughly an 80% premine for the team. Would you consider burning tokens? or using team tokens to get on a reputable exchange? How exactly should we think about this abnormally large premine?

Saswata Basu | 0chain:
Team tokens are for dev and keeping the network safe initially. Like any startup, thats the case. Mining is expected to generate more tokens over the years. And buyers can always buy team tokens on the market. It has absolutely no correlation with token value. We will have an analytical paper out where we show that token value is correlated with storage service. And this can be extended as more services use our token for such.

Johnny Crypto:
How does 0chain llc plan to make money?

Saswata Basu | 0chain:
services to on-board dapps on 0chain, 0box, other products, services.

Johnny Crypto:
Do you have any customers yet?

Saswata Basu | 0chain:
Will be announced probably in Mar. Working with a couple.

…..

DAYFOX:
What is the biggest Challenge / drawback when trying / applying for one of those major exchanges for 0CHAIN? Do you think there is another way then those well know exchanges to increase daily volume?

…..

Bruno:
after mainnet do you intend engage another chief revenue officer like Phil was ?

Saswata Basu | 0chain:
We will see. Right now we are focused on C2C and right startup partners in the enterprise market

Bruno:
ok your right

How do you do to avoid Oracle, AWS and others to copy zcn project ?
they have unlimited founds and could try do the same with their devs..

Saswata Basu | 0chain:
Not worried about them as they are selling infrastructure, not software. They would promote us if we’re successful. More worried about other projects copying us.

Bruno:
What you do to avoid centralization ? team members could mine zcn tokens ?

Saswata Basu | 0chain:
Have ‘good’ token buyers substitute us

Bruno:
Did you already defined memory data per 1 zcn token ?
that amount per zcn gonna change later ?

Saswata Basu | 0chain:
Not yet, but expect to be similar to AWS prices, so should be profitable for blobbers.

Bruno:
Do you plan do presentations around the world to promote zcn and create great community ?

Bruno:
after mainnet

Saswata Basu | 0chain:
Yes

…..

jlib01:
Is the wallet release still on track for this month??

Saswata Basu | 0chain:
Yes

……

Saswata Basu | 0chain:
Guys, thank you for the questions. I need to run, but I’m sure @Fiebsy can answer additional questions. This AMA was great, I enjoyed interacting with our supporters. More exciting stuff to come before our next AMA. We at 0chain are very excited with our development and ‘know’ that we’re on to something big, transforming the crypto and enteprise markets. Thank you.

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