We saw an overwhelming number of participants, and so are proud of the highly engaged community we are building. The AMA questions were answered by 2key’s CEO, Erez Ben-kiki, and CTO, eiTan While the AMA was meant to be just an hour, eiTan, our CTO, stayed in the community group for an extra 5 hours, making sure all the live questions were answered.
We received a monumental number of questions and tried to answer as many as possible. Our goal is to ensure the community properly understands every aspect of our development. Thus, this piece will exist as a FAQ covering both important and frequent questions; the list of questions answered here may be expanded over time.
2key Network FAQ —
Why is 2Key Building on ETH and not another faster chain?
Erez: 2key puts decentralization at the top of its values. When we look at the pros and cons of various blockchains, today’s world-leading blockchains that supports smart contracts and also provides full decentralization is only Ethereum from our eyes.
There’s a good reason Ethereum is the second-largest blockchain, with the largest and most active community in the field. Like that, we have found Ethereum to have good product solutions like plasma and hd wallets and ERC protocol. when entering new technology, it is advisable to reduce risks and follow the biggest and strongest in its field.
Why is 2Key Called 2Key?
Erez: 2key is all about re-inventing the links. we transform regular HTTP links into 2key smart links. 2key links track and record each person that share’s the link and keep the information encrypted in the link itself. therefore- it’s a key with 2 sides- a key that holds the 2 sides of a share- the sender and receiver. Therefore: 2key!
We also felt that 2key is different, unique, and easy to say in any language around the world. Ease of pronunciation on a global scale is important to make 2key as adoptable as possible.
Will there be any limit for referrals per day or any other way to incentivize people to share referrals meaningfully?
Erez: 2key always strive to give a solution that is based on success only. unlike Google and Facebook, the 2 biggest marketing channels worldwide that charge only on CPC, CPV and transfer all the risk to the advertiser, we want advertiser to pay only per successful results and eliminate the risk. once a conversion accrued, there is no risk for the advertiser, and all the referrers on the chain are being rewarded only per real result.
To make 2key a real, authentic network, where people share real information with relevant people we are adding to any 2key link an option to report on the link content or sender. taking the feedback models such as Facebook have, to any link online!
Every user on the network will earn and lose reputation points based on his action. if a user will be reported as a spammer for too long, he will slowly get banned from the network. First, there’ll be warnings followed by a temporary ban. If link spamming persists, there’ll be a permanent ban.
Eventually, the whole 2key network will be based on reputation to all its players. being a spammer will be hard, especially before earning any reputation as we will limit the amount of 2key links you can generate.
@mary_arseno: What do you mean exactly with layer 2 scalability solution. Is it like MATIC?
eiTan: MATIC currently does not support smart contracts and, in any case, is based on plasma for state synching, which is in essence centralized as a state synching solution and requires centralized entities to run servers rather than peers running their own nodes.
With 2key, the idea is that we migrate many to all of the smart contracts’ TXs to a multi-party state network which is made of users’ browsers. This means users’ browsers both participate in the contract and in maintaining the state, while the majority of the contract is played out off-chain on a p2p network spawned between the browsers of users who touched the 2key link for that campaign.
The 2key protocol TXs don’t require communication between the browsers to any kind of server; not a centralized API; not an eth node; not a plasma node. This is pure cryptography which mutates the contract state for the 2key off-chain TXs. Our roadmap now includes generalizing the protocol so it can be used for any type of contract TXs.
@Vanquisher007: How could a second Cryptokitties war impact 2key?
Erez: We are a scalability solution that improves ethereum scalability by magnitudes.
eiTan: You mean how could a high Tx load on the EVM impact the 2key network?
Since most to all of 2key campaign txs occur on the second layer, the effect would be minimal even today, and once we finish generalizing the protocol, the effect will be close to zero as with the full protocol persistence to layer1 transforms into an offline issue and we can persist contracts to L1 in a buffered manner offline without compromising the actual runtime.
@hanphan: 2key’s orientation is to cooperate with traditional advertising companies like YouTube and Google, or will choose other companies because of their strategy?
Erez: 2key’s first orientation is to serve the long tail of businesses ww. We first want to serve SMBs and SMEs as they don’t have any solution for referrals atm. Later, we will serve also the big brands. Maybe even Google!
@terminalia: Will 2key Network have its own blockchain? Why? If Yes, what will be the unique features and its algorithm?
Erez: We have no plan of building our own blockchain. Our Protocol is a second layer blockchain agnostic solution and can operate on other blockchains.
We have chosen to operate on Ethereum for now because it most effectively encompasses our goal of decentralization, and it has a very large network effect. With that said, we may decide to move if some day an alternative comes up with even better decentralization fulfillment and a greater network effect.
@teodzz: Is the speed of 2Key network well-guaranteed?
Erez: We are working hard on improving the speed of the 2key protocol which is very fast today. as we are a second-layer solution, we are not pegged to the 17 seconds a block of Ethereum time limits.
@Howdee12: How will you track the specific routing of the referrals across participants? That is, does each entity in the chain have to participate in the 2key network?
The core Protocol doesn’t require any more steps in order to share and earn. We’ve introduced additional steps to ensure humanity of players, but this is a game theory aspect to distract botnets from occurring until we finalize the full game theory AI aspects of the Protocol.
@kodvas: How will be bots prevented? Will it happen seamlessly or there will be solutions like captcha?
eiTan: The full incentive model that we’ve outlined and patented will be further groomed to make sure reputation is settled as the base asset of the Network, and to make sure all incentives are aligned to maintain a result-driven economy.
In that regard, it ultimately doesn’t matter if a bot or human makes the referral. What matters is the reputation, making sure spam sources are weeded out of the network, be them human or robot sources. Meanwhile, until we fully implement our game theory AI solution, we maintain the Network as a human-only network by enforcing a one-time registration process which includes verified login, humanity tests, etc., which then triangulates into a registration TX in the 2key registry contract.
@incredible1: How would you maintain the network scalability without sacrificing the network decentralization?
eiTan: Regarding decentralization and scalability: the way the 2key Protocol works is that when you receive a 2key link, joining the contract as a referrer is a stateful TX which happens solely via link sharing and the users’ browsers, so it is 100% decentralized (state mutation happens only in the users browsers), and actually, 2key TXs are even more decentralized than eth transactions since they don’t rely on Master servers to run as full nodes to submit, mine, and broadcast TXs.
It is 100% scalable for that exact same reason. The browser doesn’t need to rely on any external server in order to state mutate the contract, then you just need http to forward the state machine by link sharing so the only bound is the speed of the internet for transferring the link string itself by any means: mail, SMS, WhatsApp, Facebook, TG, etc..
@Vanquisher007: As an entrepreneur in e-commerce, how easy could i implement my own referral system on your protocol for a Shopify and WooCommerce stores?
Erez: So, part of 2key roadmap is to serve the 2key Protocol and solution as extension/add-on from Shopify, Wix, Wordpress, and other popular click-and-drop site creation platforms.
@namnguyen161099: In the market today there are quite a lot of developments, currencies, and other good technologies. So, 2key has important points to be on top?
Erez: 2key Protocol is pushing the effectiveness of second layer scalability solutions. We already have a highly disruptive DApp built upon it: 2key Network. With the business interest we already see for 2key Network, this is a Protocol that can drive actual usage at mass.
Our protocol is designed to enable more developers to utilize Ethereum but with greater scalability and an enhanced capacity to onboard users. Seamless means of reaching to an audience, delivering them a wallet (without them knowing), enabling them to go from fiat to Crypto with Network integrators — who can do much more than just offer fiat conversion, and then letting them use the DApp.
People can easily use DApps the same way they use normal apps. This is real progress.
@Suesue1710: How can you ensure the Algorithmic Game Theory Model is fair for all participants? How is the Code Hash important for users? And how can resolve if users lost their Code Hash?
eiTan: Please read our incentive model paper and we can have a dedicated discussion around this. We have recruited world-class algo game theory experts just for this purpose.
Re. Code hash, you can’t lose it and it’s only required for downloading the code required to turn the browser into a 2key node for that campaign. There’s also the state hash which is more user sensitive, but in any case, they’re all hidden inside the 2key link you got, so as long as you’ve got it from someone and you have it, you’re covered. Of course, when you log-in to the 2key app, we also cache all this for you and in some cases, the browser itself will cache non-state sensitive code or hashes too, so the code hash, for example, is also cached in the browser.
@Chris_tie: Will it be possible to create smart link for website which is not 2key native?”
Erez: We are now launching the network with 2 web 3.0 use-cases which run on 2key smart contracts- token sale and donations. Later this year, we will allow almost any HTTP link to be transformed into a 2key link, track its distribution, and even reward he whole referral chain!
eiTan: Well, the key to serving 2key links is http clients, and we’ve been in discussion with several browsers to integrate 2key natively, but for now, you need to create a contract via the 2key protocol in order to create a smart link, so you need the protocol integrated in whatever interface you use for generating these contracts. Once generated you can share them on any http client unbounded.
@r_derrings: What if 1 billion people have participated in referral sharing and 1 bil wallets were created. Let’s say half of all people did not know they got rewarded and never opens wallet. Does it mean that these tokens are lost forever or participants are informed about their wallets?
Erez: 2key token architecture takes referral rewards and swaps them to 2key tokens from the 2key exchange contract, then send them and registered into the campaign smart contract, assigned each portion to each specific referrer. This is an atomic action that transforms considerably big amounts of 2KEYs to many people after each conversion. After those 2KEYs are registered under a certain user, he will then receive an email and a pop notification on the network, telling him he can now send that reward from the smart contract to his private wallet.
If users choose not to withdraw those 2KEY tokens, they will be just kept locked under their username (and plasma address) in the contracts. Potentially forever.
Like Satoshi said: Lost tokens — think of it as a donation to the rest of the token holders.
This is the fifth article in 2key’s 1-Month of Content.
Article 1: 2key in 150- and 300-Word Descriptions
Article 2: 2KEY Token Economy Explained
Article 3: Why we Patented a Decentralized Technology
We invite you to have a firsthand experience of our breakthrough solution — Smart Links — on our testnet (https://test.2key.io/); you can be the pioneering drive in the first feasible solution in the scramble to decentralize the web.