Telegram AMA Recap with CEO Justin Park

Last Monday, the Metadium Telegram community engaged with CEO Justin Park in real time. A multitude of questions popped up during the hour-long session; here is a recap of some of the biggest announcements, insights, and updates on the self-sovereign identity blockchain protocol.

Q: What are some of the biggest things the Metadian community can look forward to going into the next couple of months?

Justin: Sure, there are key achievements and milestones ahead for the next couple of months.
Including:
1. Mainnet Launching
2. First MVP of Meta ID Dapp
3. New listings
4. Partnership announcements
Justin: Regarding new listing, we’ve submitted and completed application submissions for top tier exchanges in Korea.

Q: Is there a date we should look forward to for the listings then? I understand you are not able to say which one.

Justin: Since we plan to launch our mainnet towards the end of February. The listing schedule may postpone as token migration schedule.

Q: Token migration? Will metadium make its own blockchain? If so, how since it’s already an ERC-20? Will users have to do a KYC to convert to the new one?

Justin: Not necessarily need to do another KYC, the details for migration will be announced and guided.

Q: Can the community look forward to an announcement date for the migration?

Justin: Yes, we will release the detail guidelines by 1 week of February.

Q: Hi Justin, I wanted to ask — What can META token holders do with META other than buying and selling on exchanges?


Q: When will MetaID be ready?

Justin: We will release the basic wallet feature by 15th of February as per current schedule. The MetaID feature will be released together with actual service integration after our mainnet launch.

Q: The roadmap has been pushed back and back. What do you currently have released that will bring faith back for the original investors? Also, Metadium has been below ICO price since it’s been on the exchanges. What happened to the initial raise and what are you guys actively working on to help keep people informed?

Justin: Actual launch of our mainnet was scheduled on Q2 of 2019, and decided to pull in the schedule by 1Q. We also see the issues and frustration of early investors. The decision to pull in mainnet is to try to decouple with ETH price.

Q: Are there any plans to target bigger use cases such as business partnerships or institution usage?


Q: It is still unclear about what your consensus mechanism is. Can you explain more in depth?

Justin: Our consensus algorithm is called PoA (Authority).

Q: Why not put META on all the Bitcoin ATMs since Coinplug is one of their partners?

Justin: This will be announced on this as well.

Q: How do you become an authority in PoA? Are they like masternodes or oracles?

Justin: There will be guidelines released soon to become an Authority together with Economy Paper.

Q: Will there be any upcoming community engagement or bounty programs?

Justin: Yes, as towards to mainnet launching, the series of events will be implemented and we definitely will give more weight on communities and supporters.

Q: What is the MetaID and why’s it so important to Metadium community members?

Justin: MetaID will act as making “advanced personalization” in the digital world. Just think of the movie Matrix. Being able to have control of your own being in the digital space is the first step of decentralization.

Q: How do you know your chain will be secure?

Justin: We are working together with several top tier security audit specialists.

Q: So wait! There are flaws in the blockchain already? Or are you just being proactive and working with them to fix stuff before it happens?

Justin: As preemptive actions for sure.

Q: Will we be able to mine Meta later? If so, which devices?

Justin: If you are eligible to become an Authority. An Authority = Block Producer.

Q: Is it by holding tokens similar to Proof-of-Stake? More tokens more power? As in user A required X amount of META to be a block producer?

Justin: Similar but a bit different in a way that more stake doesn’t mean more rewards but more voting power in the network.

Q: Has there been studies done on PoA?


Q: Wouldn’t that mean you should be taking an open source approach? I don’t see any code updates on GitHub.

Justin: Due to transparency matters, we are not planning closed Beta but we are considering events for users/holders/early investors. Will be soon and also we will launch new events and programs to revitalizing engineering communities and increase involvements.

Q: Meta ID is Q2 right? I wanna set up my identity before someone else takes my username.

Justin: Most likely end of Q1 early Q2.

Q: Do you have any final remarks you’d like to make to the community before you head out?

Justin: First of all, we really appreciate all the support from the community. Our team is working very hard to put ourselves back on the track and I strongly believe soon enough, we will be recognized as a leading blockchain project.

Stay tuned for our next AMA with CTO Jeffrey Song, scheduled for Thursday, February 7th, at 11:00 AM KST!

Love,

Team Metadium