Q1: Compare with BaaS of Baidu, Alibaba and Tencent, what’s the advantages of Bystack?
1. Different architectures. The BaaS of the giants are all based on the consortium blockchain, private chain and also based on Ethereum, which of course is not autonomous or controllable. Bystack is the first BaaS with mainchain-sidedchain architecture based on BUTXO that is autonomous and controllable. Both single public blockchain and single consortium blockchain are difficult to meet specific business requirements. For example, some business scenarios require transaction irreversibility and data tampering, which cannot be achieved by consortium blockchain. Some scenarios have high requirements for transaction speed and TPS and the enterprise version of Ethereum and other public chains cannot do so.
2. The application scenarios are different. The BaaS of the giants mostly focus on the authenticate evidence, public welfare, charity, track, and other non-mainstream business. Blockchain, after all, is the subversion of traditional business logic and technological logic, they are the winners of the Internet, but the Internet’s success is the disadvantages of blockchain, for example, they can not make decentralization of data, calculation and account status. So there is a paradox of the traditional giant developing blockchain. Bystack’s whitepaper lists several business scenarios, but we’ll focus on one or two with $100 billion market potential and focus on getting things done.
Q2: What’s the specific time of sidechain masternode launch? How much nodes in total? How much BTM coin for each node and can normal investors participate in the campaign? Is there any award for voting?
CFO Li Zongcheng: The scheme of the masternode will be announced in early June and there will be detailed information such as node amount and award rules. It’s a very important principle that the rules are convenient for all users to participate in and get rewards.
The design principle is that a certain amount of BTM must be mortgaged before running for masternodes. After successful participation, the candidates get high votes will become the official masternodes and alternative nodes. The masternodes and alternative nodes will be allocated mining reward and voters will also be allocated mining reward.
Q3: What’s the advantages between Bystack and Monoxide to break the trilemma?
Changjia: The first one, the direction of scalability is different, we are improving efficiency at Layer2, they are developing shards at Layer1 to scale. Second, decentralization. On breaking through the “trilemma”, we need to make clear the definition of “decentralization”. At present, there is a common misunderstanding about the definition of decentralization in the industry, that is, only talking about the decentralization of state (result), but not talking about the decentralization of process.
The decentralization of state is not the real decentralization and more mining nodes does not mean the decentralization, such as zombie-net. The public chain must be permissionless system, but “no license required” does not mean that everyone can mine through a pc, laptop or mobile phone, but that everyone is free to participate in the mining, regardless of the mining equipment. Asic resistance, home computer mining only is centralized.
Q4: After Bystack is used to create Bytom-based side chains, how to ensure the security of side chains? If Bytom has a problem with the main chain, what happens to the side chain? Bytom main chain is not very efficient at present, will it affect the efficiency of side chain?
CTO Lang Yu: Side chain security is maintained by the nodes participating in the consensus. Side chains don’t generate value, so all of the assets on the side chain are transferred from the main chain. Of course, the problem with Bytom’s main chain is that it leads to side chain problems, so the main chain aims to pursue safety rather than efficiency.
Q5: What are the advantages of Bystack?
(1) Independent — independent research and development, BaaS based on public chain, which belongs to the research and development of operation-system level.
(2) Open architecture — Vapor is the first side chain issued by Bytom team. According to different application scenarios, you can launch different side chains for business and games.
(3) Both decentralized and efficient. Since security is an integral part of any BaaS, we can simplify the trilemma — How to balance decentralization and efficiency? Bystack gives his own answer, the main chain adopts PoW, side chain adopts DPoS+BBFT. The main chain is responsible for asset issuance, asset right confirmation and key data storage to ensure the safety of assets and transactions. The side chain is responsible for asset transaction and transfers to ensure transaction efficiency.
Q6: Will Bystack be popular in this industry?
Changjia: One main chain+multi-sidechain,layer1+layer 2, PoW+PoS/DPoS may be more and more popular.Such as Cardano and Nervos. Cardano is divided into the settlement layer and the computing layer. Tokens run in the settlement layer, which is the foundation of the whole system. The computing layer provides smart contract, identity authentication, message communication and other functions. Nervos is divided into consensus Layer which is responsible for network consensus security and extension Layer which is responsible for transaction efficiency and supports other Layer 2. The direction of these projects is consistent with ours, but we are now closer to commercial applications in terms of research and development progress.
Q7: When will Bystack officially release?
Lang Yu: The side chain client of layer2 vapor in Bystack will be released in June and everyone can actively participate in vapor development. In August, toB’s business platform and toC’s developer platform will be open for business and developers.
Q8:Bytom adopts POW to maintain the network. Bystack obtains income through DPOS, does it mean that BTM becomes a POW+DPOS project?
Lang Yu: The reward of DPOS is from operation sides and Bytom foundation will operate a sidechain vapor so that the reward is BTM. Others can operate their own sidechains with other rewards.
Q9: Building Layer 2 on POW, will the network be crowded? When can we use Bystack?
No. Sidechains can be expanded infinitely and sidechains are separated. The specific time is under schedule.
Q10: We all know about the important aspects of POW computing power and decentralization to ensure network security. What are the plans and measures in this regard?
Lang Yu: Prophet node will run together with Bystack. At the same time, we are also developing the Bytom client for different smart devices, in which the AI chips can provide computing power for the whole network.
Q11: As you mentioned “innovation in Consensus layer” in whitepaper, can you provide more internal consensue logic?
Changjia: We have published “BBFT: a Hierarchical Byzantine Fault Tolerant Consensus Algorithm”. BBFT is a derivative consensus based on the practical Byzantine fault tolerance (PBFT), which is one of the widely adopted BFT consensuses. But due to the complexity of O (n ^ 2) communication, PBFT can’t scale well. Therefore, we propose a hierarchical BFT consistency algorithm — BBFT. It makes use of network topology to distribute and aggregate messages between nodes effectively and provides the complexity of O(n) communication so that BBFT consensus algorithm has good configuration, adaptability, scalability and heterogeneity.
Q12: How much TPS can Bystack reach? Is that a platform for private blockchain or alliance blockchain?
Bystack is a comprehensive platform, which is composed of N side chains. The target TPS of our research and development is around 20000, so Bystack TPS is 20000*N. Bystack is not an alliance blockchain nor a private blockchain, but development platform contains main chain and multi-sidechain.