Good afternoon, Ladies and Gentlemen.
Welcome to the official EtherZero online interview community about the ZeroPlan. Today, we are honored to invite Evgeny Egorov, the EtherZero Russian Community Header, to act as the host of this interview, and Ryan Chen, the co-founder and marketing director of EtherZero, to act as the guest of the interview.
The EtherZero Community consists from all kind of members are interested at any activity and participation in the EtherZero projects — the owners of masternodes, traders, DApp developers and developers of industrial solutions, investors, business representatives, partners, etc.
Russian EtherZero Community is a local center of expertise of EtherZero, is to support the project in Russian: translation of articles and technical documentation, publication of news and information about ETZ projects and ICO, translation of ETZ applications into Russian, etc.
Chen Weiran: Co-founder and market director of EtherZero. He has many years of experience in mobile Internet and digital currency operation, as well as early preachers of blockchain and digital currency.
The activity begins now. All the friends are welcome to participate actively and ask questions enthusiastically.
Evgeny：Thank you for the invitation. Welcome to today’s interview guest Ryan Chen!
(Welcomed by our supports)
Ryan Chen: Hello, everyone. Welcome to ask questions!
Evgeny： Our interview today is about the “ZeroPlan” officially launched by EtherZero. Since there may be few people in the group who do not know much about the EtherZero project, can you first introduce what EtherZero is?
Ryan Chen: All right. EtherZero is a general smart contract development platform. It has become one of the most suitable public chains for DAPP development because of its zero handling fee, instant payment and high scalability.
EtherZero is the first public chain that combines the more decentralized and fairer node mechanism of the Masternode with the Turing Complete Smart Contract, and provides instant payment features and transaction processing capabilities of thousands of TPS. At the same time, EtherZero was also the earliest use of the Staking Economy for the public chain passenger economy design, which safely realized the zero transaction fee formalities, greatly reduced the development and use costs of developers and users of decentralized applications.
Evgeny：We know that “ZeroPlan” is a Staking project of EtherZero. Staking is also one of the hottest words in the blockchain world. Can you give us a general idea of what is Staking?
Ryan Chen：Staking is a unique action in POS consensus mechanism. It means that the holder executes his own rights and interests related to holding money through Staking. POS is a consensus algorithm in the public chain and can be used as a replacement for POW algorithm. In essence, POW and POS are both a random selection of the next block uploader. POW is a random selection based on computing power, and POS is a random selection based on financial resources.
In POS, if the holder wants to get the Staking reward, he needs to select a node to entrust, and obtain the benefit through staking, voting and locking.
Staking is not simply a means of earning interest, it can prevent the tokens on the holder’s hands from being diluted by inflation. Staking is also an excellent way to control market circulation and keep token deflationary. Once token is deflationary, it means that prices are rising.
Evgeny: In the ZeroPlan, masternode is the participating unit. What kind of existence does the masternode exist in the EtherZero public chain?
Ryan Chen: The masternode is the infrastructure of the EtherZero public chain. The masternode group jointly maintains the consistency of the account books of the blockchain, consensus on the transactions in the network, ensure the validity of the transactions, and avoid malicious acts such as double flowers that may cause asset losses. The masternode is a server (or cloud server) physically, but it needs to stake 20,000 ETZ to operate the masternode. All the masternodes share the block producing reward.
Evgeny: Okay, what’s the ZeroPlan?
Ryan Chen: ZeroPlan is a consensus plan launched by EtherZero Official in 2019. Its bottom layer of ZeroPlan is EtherZero masternode. Through ZeroPlan, the masternode can be built with one button. It can not only save complex server and code deployment process, but also have the opportunity to enjoy triple rewards and gain more ETZ.
Evgeny：What was the original intention of the EtherZero team to launch the ZeroPlan?
Ryan Chen: ETZ is an open and transparent staking economy that injects fresh vitality into the blockchain that has just recovered from the bear market. At present, we are in the early stage of the Zeroplan. The masternode is from 0 to 100 to 1000. Last week, the plan for recruiting ETZ nodes was officially launched. 1000 masternode holders (including different community members) became our first stage node. The node holders will lead their users to stake ETZ. Of course, as a super node or global node leader, there will be rewards and benefits. It is expected that ETZ will bring benefits to more coinholders and more users to participate in our ETZ nodes in the near future.
Evgeny: Okay, so what advantages does ETZ have besides gains after staking?
Ryan Chen：Actually, the staking mode of ETZ is very simple. At present, the amount of ETZ circulating in the market is very large, so the price of ETZ can’t go up. After the ZeroPlan is launched online in the near future, the ETZ pledged shows a linear growth process. The proportion of coins circulating in the secondary market will also be reduced, and the price of ETZ will go up accordingly. After ETZ price rises, whether it is for investors or node holders or retail investors, can give people enormous confidence, then node participants will eventually form a benign staking ecosystem, all holders of ETZ will get rich returns, the whole ETZ ecological construction will continue. Cooperate with eco-co-builders, airdrop corresponding coins for masternode holders, increase ETZ holdings in secondary markets of corresponding institutions, etc.
Evgeny：They must want to ask, “Why should I take part in the ZeroPlan Staking?”
Ryan Chen：Yes, the staking mode should be very clear. If you still don’t understand, you can consult me later in the Q&A session. I’ll give you a detailed explanation. Now, I’ll simply sort out the investment logic for you to participate in the ZeroPlan Staking.
First, the market value of ETZ has been seriously underestimated. We have issued about 200 million ETZ coins. The current unit price is 0.16$ and the market value is only 29 million$, while the peak price of ETZ is around 2.9$. Therefore, the current price is seriously underestimated. ZeroPlan is one of the plans for ETZ price revival, and it is also a currency-based staking model. Participation in the plan can get more ETZ coins.
The second is: Staking is the most mainstream economic model in the blockchain industry. In the past, we expected to get secondary market returns by investing coins, using time the market, long-term invest, banking, etc. But now it seems that the intervention of large capital and professional institutions has gradually made secondary market game more specialized, informative and capitalized. Money-making effect should be gathered in the top, small retail investors in the secondary market situation is becoming more difficult, which is the retail investors most lamented during the last six months: why the market has risen, but I did not make money.
We must clearly recognize the cruelty of the secondary market, which is speculative gambling, but staking is investment, which is one of the reasons why staking is becoming more and more popular.
Thirdly, staking does not affect coins investment in essence. On the contrary, it is a stable way of coins investment. The currency-based mode will increase the amount of hold coins, decrease the their price, hedge the loss of decline, increase coin price and enjoy more gains. In addition, the biggest advantage of EtherZero staking over other projects is immediate redemption. We have compared industry projects, our EtherZero instant redemption is very rare and user-friendly.
Fourth, of course, we value ETZ. In the past year, we have launched more than a dozen exchanges, including bithumb, Korea’s largest exchange, ZB, bitmax and other mainstream exchanges in China. Big exchanges guarantee EtherZero’s liquidity and allow users to trade freely. At the same time, we have made frequent efforts in technology, community building, ecological construction and DAPP development. In the technical aspects, we are exploring the possibility of fragmentation and unlimited TPS, once implemented, will be the industry’s leading public chain speed. This year, we have also established new communities in Southeast Asia, South Korea and many other countries to promote EtherZero, Dapps runs on ETZ, have also achieved profitability and so on.
When the trend arrives, you will find out where someone has been preparing for a long time, waiting for a long time, so we have been preparing for a long time for your expectation.
Evgeny：One of the concerns of many people is, what are the reward rules for the ZeroPlan?
Ryan Chen：Masternode holders who joined ZeroPlan can enjoy three kinds of referral reward
Direct Referral Award: Prize pool provides 10% equivalent ETZ reward for the masternode built through this app.
Super Node Award: The reward is an additional 10% for the direct referral awards of the masternode. After refer five other accounts directly as masternodes, you will be upgraded to Super node.
Global Node Award: The reward is an additional 10% for the community’s masternodes. When the number of masternodes in a community governed by an address is greater than or equal to 100, the address is upgraded to a Global Node.
Evgeny：So what are the thresholds for ZeroPlan?
Ryan Chen：Click “discovers” in EasyETZ wallet to join ZeroPlan, send 20600 ETZ to the contract address (quantity is 20600 or less, fluctuating slightly according to ETZ’s price, server fee is fixed), and have detailed operation tutorials.
Evgeny：I’ve seen the ZeroPlan rule, and I think there are some details that may need to be clarified. For example, can multiple masternodes participate with one wallet address?
Ryan Chen：
Yes, but in ZeroPlan, if you want to get a direct referral award, you need to use different wallet addresses, because an address corresponds to an invitation code. You can’t invite yourself with the same referral code.
Evgeny：OK, so the rest of the questions are about specific rules. Is there any referral income for renewal when due after three months?
Ryan Chen：
After renewal will automatically participate in Zeroplan, and there will still be all the benefits under the rules.
Evgeny：Under what conditions can we apply for a global node?
Ryan Chen：When a wallet address directly recommends 20 masternodes, it can apply for global nodes.
Evgeny：If I am not a masternode, can I invite someone else?
Ryan Chen：Yes, can get the direct referral award, but the super node and the global node reward can only be enjoyed by the masternode.
Evgeny：Where does the ZeroPlan incentive come from?
Ryan Chen：
EtherZero team plan applies for part of the community award and the rest is supplemented by the team.
Evgeny：How long will the ZeroPlan last?
Ryan Chen：When the number of masternodes reaches about 2500 dynamic equilibrium, it will be terminated.
Evgeny：How do you guarantee that ETZ’s price will not fall after three months’ lock-up?
Ryan Chen：With Zeroplan going on, more and more ETZ will be locked, and less coins will flow in the market. According to the principles of economics, ETZ price will rise.
Evgeny：The following question may be a bit sharp. According to the principle of economics, the price of ETZ will indeed rise with a large number of locked coins, but during the three-month lock period, users will not be able to move their coins, and they will also worry about whether the price will fall again if a large number of unlocked are sold after three months.
Ryan Chen：Very good and very practical questions. Although we have a three-month lock-up period, but not all the masternodes were invested at the same time, it is a dynamic process, every day in and out, the overall trend is growth, which shows that there is still a deflation phenomenon in the market, which stimulates the rise of its prices.
Evgeny：OK, the following question should be the most important one for all EtherZero fans. When the number of masternodes reaches 2500 dynamic equilibrium, how much will ETZ’s price hit?
Ryan Chen：
In principle, the currency price is determined by market transactions. In the past year, the 1000 masternodes have raised the EtherZero from the lowest 0.07$ to more than 0.29$, with a rise of four times. The reason for the current low price is that: first, the profit margin of the secondary market has gone away. This mentality will lead to a certain amount of people to sell their coins, understandable, and second, short-term speculators and large investors intentionally get funds at low prices. Thirdly, at present, EtherZero are listing on mainstream exchanges, affected by the decline in the market, EtherZero also has a pullback. However, with the implementation of the ZeroPlan, our expectation of ETZ’s price is very optimistic.
Evgeny: Well, today Ryan explained in detail the questions of the ZeroPlan from all aspects, both macro and micro perspectives. I believe all of you here already know something about it, so let’s leave some time for you to ask questions and welcome you to speak enthusiastically.
Q&A Session:
1. Why there are nearly 1000 masternodes and but ETZ’s price has fallen?
The fluctuation of ETZ’s price is normal. If only the currency does not fall but only rise, that’s probably pyramid selling. EtherZero is a technology-based public chain, and ZeroPlan is a global consensus-building plan. Through the implementation of this plan, more people will hold EtherZero and support EtherZero. ZeroPplan (masternode investment) is currency-based investment, more is the judgment of future trends. There are some uncertainties in currency-based investment itself, but investment is also a prediction of the future. What we are doing now will make consensus proportional to the coin’s price. If your investment system is a long-term investment, it is suggested that you can choose staking, so that you can hold the coins.
2. As investors, we also know that it is impossible for us to get the inside story of price rise and fall in advance. We also know that you can’t guarantee how much the price will rise and how much the profit will be. But what we hope is that we can talk about some practical plans for our analysis. Let’s judge how far we can go and how long we can go.
In principle, the rise and fall of the coin’s price is determined by the market, but to a large extent, it is related to the action of the project side. ZeroPlan is a medium or long-term plan, which will not be stopped after the completion of phase goals. Later our project plans are a series of plans, which will be announced in stages. These plans include deflation control, list on big exchanges like Huobi, okex, upbit, coinbase, etc. which we are all working hard on, influential application cooperation, DAPP development contest, project investment and so on. At the same time, we are also studying industry trends and directions, to ensure that project action is at the forefront of the industry.
3.How will zero plan on lower end hardware effect transaction times?
If the low-end server is used, the block synchronization speed is slow and cannot reach the latest height in time when the node is producing block, So the packaged block is likely to be discarded by other nodes, and the transactions included in this block will also be revoked, so it will affect the transaction speed.
4.Where are the additional rewards comes from?
EtherZero team plan to applies for it from part of the community award and the rest is supplemented by our official team.
5. Why is EasyETZ not accepted on a iphone? Why not make a developer accound and get it on App Store? For users safety?
App Store China is not accepting EASYETZ or other exchange like huobi, binance beacuse of government regulation online, we are now trying to get EASYETZ listed on APP Store HK or App Store US, once it’s listed, we would do annoucement immediately.
Thank you all for be here for ETZ!! We are honor to have you~~
