Mar 17
Thank you to the BasedClub forparticipating in Ask Me Anything(AMA) with TaylorChain 24th February 2022 Ceo(Pedraza Torres Juan). If you were unable to join the live AMA, no worries. you can read more here.
Anis Nabila:
Let’s based x TAYLOR CHAIN AMA get started❗️
⚠️ Don’t Panic! You are not in Ban. CHAT is muted for AMA ⚠️
📣We will host AMA With :
✨During the AMA, we will often close the chat feature to smooth the question and answer session
Welcome everyone! Thank you for joining the AMA session of Taylor Chain at Base room club Telegram community. Today we have invited Pedraza Torres Juan, the co-founder of Taylor Chain. Let us not wait and dive in to our first question today. Dr.Torres, do you mind briefly introduce Taylor Chain to us ?
Dr. Torres:
Thank you for the invitation, and it is my great pleasure to meet the community members of the Based club.
Taylor is a completely decentralized cross-chain system, and the Taylor team is committed to building a cross-chain ecosystem that integrates public chains, wallets, decentralized transactions and Web3.0 that is able to ensure the consistency and validity of data; thereby, realizing the principle of “Interconnected chains, exchange of value”.
Anis Nabila:
Thank you Dr.Torres. Now let’s talk about the team behind Taylor Chain. Please share some background information of the team with us.
Dr. Torres:
Taylor Chain was created by me after I published an article “About the Future of Blockchain” in the Invisible College, and I gained the support and rapport of twelve top scholars from all over the world, these twelve people came together to jointly develop Taylor Chain, and this development lasted for five years before finally achieving a breakthrough and overcoming the technical difficulties of cross-chain capabilities.
Anis Nabila:
Thank you. As I have noticed that one of the important features of Taylor Chain is cross-chain. This is a common goal for many exchanges. Can you explain why cross-chain has become so important today?
Dr. Torres:
Since the development of blockchain technology, assets on different public chains are not able to be exchanged with each other; similar to the situation in which there are no bridges built between islands to connect them. This phenomenon can also be termed as “Island effect” and it is very unfavorable to the development of the blockchain industry as a whole.
This effect can be broken through the utilization of cross-chain technology which will allow information and assets on different chains to interact freely without going through a centralized exchange.
Anis Nabila:
I agree. Now let us look at the Taylor Ecology. Please briefly introduce the basic structure of Taylor Ecology.
Dr. Torres:
The Taylor ecosystem is made up of three major system: a multi-chain wallet which provides users with the means of safely and securely storing digital assets. Taylor chain which enables interaction and interoperability between chains and TL Swap which provides users with anonymity and privacy when conducting decentralized transactions.
Anis Nabila:
nicely👍🏻
You have mentioned TL Swap in your ecology. Please share more details about it.
Dr. Torres:
Taylor Swap supports the free storage, transfer and trading of assets on any chain. It also adopts the “bandwidth” mechanism of cyclic recovery and provides users with a certain amount of free transfer every day. It has improved the shortcomings of other decentralized transactions that offers low efficiency coupled with high gas fees and is a new generation of decentralized cross-chain swap service.
Anis Nabila:
Now let us look at TL, the token of Taylor Chain. Please share some details of TL.
Dr. Torres:
TL is Taylor’s coin, and it has a total issuance of 16.85 million, which is lower than the total issuance of Bitcoin.
For more details please go to our website at www.taylorchain.io and look at the White Paper for more details.
Anis Nabila:
Thank you for sharing with us. Now let’s talk about the bandwidth mechanism, This is a concept I would like to share with the community as well. Do you mind do just a brief explanation on it?
Dr. Torres:
The bandwidth mechanism is equivalent to a free quota that can be used to offset the TL miner’s fee every day, which saves users a lot of costs and which also enables new users without TL to utilize functions such as transfers and transactions.
Anis Nabila:
Thank you. Now let us dive into the mining part as I believe this is the feature that most investors care about. Please briefly share the mining procedure of Taylor Chain.
Dr. Torres:
The mining design of Taylor Chain combines liquidity mining and main net mining that utilizes an “adding liquidity is mining” method. Most of Taylor’s TL output is generated from liquidity and mining rewards are distributed to users who have contributed to Taylor’s decentralized cross-chain ecosystem.
Anis Nabila:
For the liquidity computing power and the DAO computing power, please explain how they are different from each other.
Dr. Torres:
Liquidity computing power can be understood in the conventional sense of DeFi Swap pool, which I am sure most people are already familiar with. So I will focus more on DAO computing power which is a new reward mechanism by Taylor Chain; when users invite friends or new users and these people participate in liquidity mining, the referrer will get DAO computing power which enables faster mining and more rewards.
Anis Nabila:
Thank you! Now as we learnt so many details about Taylor Chain. Let us consider the competitive advantage of Taylor Chain. What makes Taylor Chain so unique among all the other centralized and decentralized exchanges?
Dr. Torres:
Although centralized exchanges are convenient, they force users to perform KYC identity authentication which causes user privacy concerns. In addition, users need to deposit funds onto the exchange directly and they are not in control of their own private keys which means that users are not able to truly ensure the safety of their funds.
In contrast, TL Swap enables highly efficient and low cost decentralized cross-chain transactions that guarantees privacy and security of funds, which gives Taylor a competitive edge over traditional centralized transactions; and will be the draw that gravitate users of centralized transactions towards Taylor.
Anis Nabila:
Thank you. Now let us look at the future plan of Taylor Chain. Are there any exciting updates coming up in the future? Judging the fact that Web3.0 has become so popular this year. Do you have any plans about Web3.0 as well?
Dr. Torres:
At present, there are many Web3.0 related communities and it is Taylor Chain’s wish to embrace these communities; Taylor Chain’s cross-chain technology is Web3.0 compatible and will be able to support NFTs and the various tokens that are in use by the community.
Furthermore, as the world’s first decentralized public cross-chain, Taylor Chain will not only challenge the cryptocurrency market monopolized by centralized exchanges but also become a mainstream cross-chain transaction service. In the future, the free interaction of information on different public chains will be realized via Taylor Chain and a new era of “Interconnected Chains, Exchange of Value” will be achieved.
Anis Nabila:
great nice👍🏻
thanks you for answer question from segment 1, lets move segment 2-question twitter
Q1:Currently, most investors are only interested in profits at this time, but ignore the long-term benefits. So can you give me some advice on why I should buy and hold token in the long term?
Dr. Torres:
Taylor is a project of immediate value and future potential. Taylor’s decentralized cross-chain function has a huge competitive advantage in the cryptocurrency market, and TL holders will be able to share huge profits together. In future, on top of the cross-chain of assets, the information between the public chains will be able to interact across the chain through Taylor, which will become the key to the mass adoption of blockchain. It is bound to attract various industries to the chain and kickstart an era of “interconnected chains, exchange of value”. As the underlying foundation of each public chain cross-chain, the value of Taylor (TL) is bound to rise.
Anis Nabila:
Q2:What is the most ambitious goal of your ‘#Taylot’ project?What is the ultimate vision that your ‘#Taylot’project is trying to achieve in the cryptocurrency market? Explain to us about that. I would appreciate it if you could share any upcoming updates with us?
Dr. Torres:
Taylor cross-chain aims to be the trailblazer of blockchain and to provide technical support for every blockchain, virtual worlds and the Metaverse; by doing so, Taylor’s value will be reinforced with every cross-chain transaction.
Anis Nabila:
Q3:P2E games are blowing up in the cryptocurrency space with great potential.A significant issue for many of the currently offered P2E games is just that they are being created as blockchain games, not great games where blockchain is just one element. How’s Taylor” different?
Dr. Torres:
Our current plans does not include GameFi, but we have noticed that GameFi and Metaverse has experienced a surge in popularity these days. We might provide the fundamental technology to support both the GameFi industry and the Metaverse in future.
Anis Nabila:
Q4:Many projects only focus on the price of their tokens in the market but not on the utility of the tokens, is their any buyback of token in future to increase its token price ? How will you increase utility of token?
Dr. Torres:
I would like to emphasize that Taylor (TL) is not a token, but a coin.
Taylor (TL) has a total issuance of 16.85 million coins, which is lower than the 21 million of Bitcoin. This design ensure that the value of TL will not be affected by inflation and thus, this makes us very confident in the value of Taylor.
Anis Nabila:
Q5:Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners? Can anybody anywhere use this project without Any restrictions?
Dr. Torres:
Taylor is global. We welcome every blockchain enthusiast to participate. Taylor’s development and value is inseparable from the support and promotion of the community. The entire Taylor ecosystem is mutually beneficial and symbiotic. Adhering to the spirit of DAO, we listen to the opinions of each and every community member in order to jointly advance Taylor’s cause.
Anis Nabila:
Great! Thanks you for answer all question from 1&2 lets move to segment 3! LIVE AMA
1
2
3
1.Virat 07:
I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
Dr. Torres:
You can download our mobile application on the Google and/or Apple playstore as we are already live. The application’s name is “Taylor Wallet”.
After downloading the application, add liquidity to TL Swap to participate in TL mining.
2.Forid:
👉Where I can get the latest updates or more information about the project, ? 💥
Dr. Torres:
You will be able get more information on our website and other online platforms at:
Taylor Wallet：https://app.taylorchain.io/download
Taylor website address：https://www.taylorchain.io
Taylor
browser address：https://www.taylorscan.io
The official E-mail：foundation@taylorchain.io
(http://E-mail%EF%BC%9Afoundation@taylorchain.io/)Taylor customer Service email：help@taylorchain.io
(http://email%EF%BC%9Ahelp@taylorchain.io/)Twitter: https://twitter.com/_TaylorChain
Facebook: https://facebook.com/TaylorChain.io
Taylor’s official Telegram: https://t.me/Taylorchain_UK
3.Robart:
A lot of scam projects lately. Pulling the rug creates a loss for investors. why should we trust your project? Aren’t you going to do the same?
Dr. Torres:
Every industry will have black sheeps and the cryptocurrency industry is no exception; but Taylor is the first decentralized cross-chain application that also allows users to control their own private keys, wallets and funds. Users will be able to enter and exit freely with no worries that funds or coins will be locked.
4.Robart:
Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Dr. Torres:
Our application is already translated into several languages; English, French, Spanish, Japanese, Korean, Mandarin, etc., we are also working on more translations in order to facilitate our global users.
We already have communities in several countries and there will be more to come.
Ok. Thank you all for your time and support. Wishing everyone a good day! We hope to see you in Taylor’s communities
Reymond
Amazing
