Q & A about Primas token (PST)

Feb 28, 2018 · 7 min read

Primas co-founder & CTO Lu Gan answering questions asked by Primas fans in TencentQQ group

Moderator: Gan Lu shared with us something tonight, thank him very much. Concerning this sharing session on blockchain, actually, I still have some questions to raise. These questions have been raised by group and community members previously, and I was hoping Gan Lu could explain them here for all of us.

Question: How’s the Primas “Mining” system works?

Gan Lu: Actually, I really do not like to use the word “mining”, and in our system we call it the incentive system, which means that we can get more PSTs through some actions. And the incentive system can be divided into several parts:

First of all, everybody goes inside to publish articles and write some high-quality original contents, it is sure for him to get a lot of PST. Or you can give a like, comment or repost these contents, this can also gain some PST.

In addition, we have a decentralized crawler called Hawkeye, it will use the content on the whole Internet to help spread it, so it is also possible to obtain some PST by launching a Hawkeye node like this.

Then we actually have an intermediate layer we call Primas Node, and then this intermediate layer actually serves our clients, including future communities or on some of the existing platforms to which they are connected. And runnning this Primas Node also offers some PST(incentive), but the threshold of it may be higher, because Primas Node requires high machine performance. It will be a server called Titan Plan, this Titan plan may be released at a later date.

Gan Lu: In fact, we have the entire open beta program in progress, the first and the second open beta, as everybody knows closed beta is actually part of an entire company plans. The entire Primas system will involve a digital asset such as PST token, and because this asset actually belongs to everyone, so they actually have a lot of security issues. And we know that the smart contract is relatively immature right now, there are some flaws in it, and we even are unable to alter them. Therefore, we are very cautious to the whole process.

Gan Lu: Our plan is as follows, we are currently running an open test network, then we will continue to let more users join in, and then iterate repeatedly, which is the first and the second closed beta tests. And then when the size of users would reaches a certain limit, for example a thousand people, our entire system will have basically become stabilized, and we will not find any special problems, then we can switch to the main network, and continue to recruit more users, for example 2,000, 3,000, or 5,000 more users, and when the system is conformed that there is basically no problem, it will be open to all people.

Gan Lu: In fact we are already in a process of releasing. The second closed beta actually is over, and we will be starting a third round of recruitment almost immediatelely. In order to participate, everybody can follow our official
WeChat account (instert WeChat Name) or the Weibo (Primas_奇点) to be
informed of recruitment information.

Gan Lu: I would first like to answer the question concerning when the Android version be released. The entire Primas app includes the Android and iOS versions, and they actually consist of a very small part of the Primas system.

Primas itself is an application we use to build the protocol layer, and this is its main purpose. Primas may connect to some conventional brands and communities through its API. And in most cases, users are not aware of the existence of Primas. Therefore, our developmental experiences are put on this intermediate layer of the bottom protocol.

Gan Lu: We will wait until this intermediate layer become stable, we are now using iOS version to do the test, and then we wait until the entire bottom layer becomes perfect. Once the iOS version is very stable we will then quickly launch this Android version.

Question: Is the node, is it the POS mechanism?

Gan Lu: We know that POS is actually a consensus mechanism used in all nodes on the ground. But Primas itself should not actually be considered a public chain project. Primas is a protocol layer that is added to the upper layer of the public chain and it is now in our practice. Primas protocol will be added to the top of Ethereum, and then we connect to the Primas Node via Ethereum’s node, so Primas node does not involve the process of consensus.

Gan Lu: Of course, we know Ethereum itself may have some problems, for example, it is expensive and slow, there may be no way to support such a large-scale application, so the next step we may switch to the other public chain, or even necessary, to build our own public chain.

Question: There have been many people asking us what is the profit model of Primas?

Gan Lu: We know that Primas is actually a kind of blockchain community project, and it has its own Token. In such a system we do not actually say that we’re going to make profit, such as making the Primas Foundation profitable or likewise, which is a more conventional business model.

Now in our decentralized system, our benefits will be reflected in the value of Token, then the added value of Token is the expression that all participants in all investors receive their value.

Question: What industries will Primas involve? Will it involve the real industries?

Gan Lu: I think that right now we should be involved in our content industry, it is related to posting articles and images, including to pull like audio,video communities into our ecosystem which we may build a content ecology.

As to real industries, I think for the time being they should not be involved. As to the question from Zhang Sanlang, I would like to comment on rivals of Primas like Yoyow or Bihu. First of all I think they probably should not be rivals, because in fact we know that the whole blockchain community is a minority compared with the entire Internet world as a whole, so I think we should actually be partners.

We together are promoting such a new system to deal with the weakness of the conventional industries, so in this regard, I do not think we are rivals.

And on the other hand, what Primas is doing now is different from that of Yoyow and Bihu, because we are actually doing it in the content industry so we see a lot of relevant problems, including the fact that the author cannot get paid, the infringement of copyright, eye-catching content, and traffic economy. So, for us, we are mainly concerned about this kind of content problems and we want to solve these issues in order to make the whole industry better.

Questions: When can a plug-in of Primas be developed?

Gan Lu: In fact, we have been developing something alike, and it includes not only a Primas plug-in, in fact, we are also doing a similar browser plug-in. I have done a similar thing in the Yuanben blockchain, and other similar things like a browser plug-in or API are actually already under development, and they actually belong to the application layer of the Pirmas protocol layer, so they are not difficult to develop.

We will wait until the entire economic incentive system is perfect, and until the development of the entire agreement layer is completed, some of these application-like things will roll quickly.

Question: And then you would develop an EOS?

Gan Lu: You know that in fact we are now based on Ethereum because Ethereum is the only industrial system with smart contract and it is relatively large in scale, so we choose to use it. But we also know the problems it has as I have said before. For example, its current transaction costs are relatively high, and its overall speed is very slow, that is, at the time of occurrence of a relatively large event, its running speed can be very slow.

We actually have been in the assessment of other industries, and we are tracking their progress, including EOS and Cosmos. That is to say, if EOS or Cosmos demonstrates good performance, we will easily switch to either of them. Because Primas is a protocol layer, it is with ease to do this. We might even consider connecting to different chains.

Gan Lu: Regarding the first question that how can the other users whom lack of the relevant knowledge of blockchain can easily get involved to the Project(Primas),or directly buying the token (PST) through exchanges?
In fact, I do not really recommend this because the behavior of buying Token itself is a very risky matter. Therefore, I actually do not recommend that people lacking this kind of knowledge to be directly involved in such an action.

Everyone must make sure that they have a very deep understanding of what they are investing in. Because we know that there are actually many similar projects on the market and some of them are simply collecting money while others may be doing nothing at all. Therefore, I don’t suggest participating in projects without a deep knowledge and understanding of said project.

For us at Primas, I think we are going to release it soon, the best way for everyone to participate in our project is to use our product. (Primas dAPP) . For currently now the best way to participate is to support our beta test processes; And after our official release when users will be able use our products directly, by then the better way to participate in the project is contributing the high-quality content by use the product and it will able to obtain incentives in the form of PST. I think this is the preferred method (to get into the crypto world).

Question: When will Primas get into the content community?

Gan Lu: In fact, previously we have had a very detailed description of the development of our Primas in the white paper book, including the entire release progress. Yet, we are actually progressing much faster than we had anticipated, so Primas services will be available to you users sooner than originally anticipated..


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