AMA Recap of Huobi Chain+Nervos!
Thanks to everyone who participated in the Huobi Chain + Nervos AMA!
We will provide an overview of the best questions and answers from the AMA below but as always if you have questions send us a message on Twitter at HuobiGlobal. These aren’t all the questions that were asked but best to highlight both Huobi Chain + Nervos.
- How many transactions per second is Huobi Chain capable of handling?
Currently, it’s 4000 TPS (Transaction per Second), and it will be more capable when the main network is launched.
2. What is the plans and strategy of Huobi Team in the area of boosting mass adoption progress of Huobi Chain by upcoming projects in the crypto space?
Huobi chain has always been following the strategy of “asset and product come first, then move to the chain”, a mode that is familiar to our users. For example, HT, HUSD, and HBTC will be the first asset on Huobi chain because users are more accustomed to them. And of course, more assets or DEFI products will be launched in the near future. In addition, we will cooperate or invite excellent DAPP (especially DEFI type) to the chain after its official launch, so as to form a real demand and thus an ecosystem. Finally, Huobi Group will move some other business to the public chain step by step, making it more open and transparent.
3.Any plans to support Masternode on Huobi chain?
We will launch MasterNode at the proper time. We are highly aware of the advantage and value of MasterNode for it effectively improves carrying capacity and availability. But with the side effects of centralization, it’s important to have the right mechanisms in place to balance it.
4. Will there ever be any incentive plan for projects who decide to host their Project token on Huobi Chain in the future?
We will provide incentives to developers, eco-business partners, and security partners who are engaged in innovation work on the public chain, and there will be different levels of incentive strategies in the early and mid-to-late stages.
5. How easy and fast will it be to deploy a smart contract on Huobi Chain?
We know it’s convenient to deploy and use smart contracts on Ethereum, so we take advantage of this to figure out our own solutions. The convenience may bring us safety risks and other problems, which are harmful to our users. So, convenience is not our ultimate goal on the chain. Instead, we will try to present the most beneficial solution to the users.
Next up here are some of the questions and answers from the Nervos AMA:
- Does Nervos have any coin burn/buyback system or any token burn plan to increase the value of Token & attract Investors towards Stake to invest?
Yes, currently all secondary issuance that is not being paid to miners or token holders that have deposited in the Nervos DAO is being burned.
These tokens from the secondary issuance in the long term will be used for decentralised governance, and when the community chooses to, can implement a hard fork to stop burning these tokens and receive them to a community fund instead. They can then be allocated by DAO voting and community governance.
2. Adoption is one of the important factors that all projects need to focus on to become more attractive to investors. So, what is #Nervos plan to adopt more Adoption?
Yes, adoption is our primary focus for the Foundation as well and a lot of work is going on behind the scenes to make this happen.
We have a 30 million USD ecosystem fund which is being used to spearhead adoption for the ecosystem. This includes our Infrastructure grant program which has awarded over 1million USD of grants to date and several very exciting grant projects are underway or completed, including Bitcoin interoperability, Zero-Knowledge Proofs, Browser wallet (like metamask), Interoperability bridges, IDE’s and developer tools, etc.
We also recently launched our incubator, CKLabs — this fund projects and teams with up to 100k USD for building their use case and app on Nervos.
Additionally, we will be opening Dapp and use case grants, marketing, and community grants and other initiatives like hackathons, code jams, and learning courses to attract more developers to come experiment and build unique applications on Nervos.
3.Why did Nervos choose the POW (Proof of Work) protocol instead of the newly appeared protocols like uPOW, POS … Does POW help Nervos make a difference?
We believe that PoW’s permissionless participation is a requirement for infrastructure at the foundation of global economic activity. The foremost goal of layer 1 is to ensure that the blockchain is a decentralized, secure, and neutral as possible. While PoS systems have a role to play in the decentralized economy, in our opinion they do not meet the requirements of a truly open and decentralized layer 1.
4. How many partners currently have trusted Nervos and what benefits do these partners bring to Nervos network? What is your business model?
We have many partners and ecosystem contributors like our current grant projects, developer teams, investors, and venture capitalists.
Some of our most high profile partnerships are with China Merchant Bank International, who is an early investor of Nervos and is an integrated financial institution providing comprehensive and professional services. And of course with our great hosts for this AMA, Huobi who we have partnered with to develop their Huobi Chain blockchain.
5. What layer 2 solutions are Nervos targeting first? Does Nervos expect to work with interoperability platforms like Cosmos for scaling too?
Nervos has developed its own sidechain framework called Muta and there is also work going on for payment channel construction (simmio, which supports CKB and any user-defined tokens. There are also multiple grant proposals under review for additional sidechain and bridges to other chains
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