As the NASGO community has grown, we’ve come across many common questions on the minds of users. We’ve compiled a list here to help NASGO community members quickly and easily reference their questions and concerns about the project.
What is NASGO?
NASGO is a modern age open source Blockchain that uses a Delegated Proof of Stake (DPoS) model to achieve consensus and allow the creation of Sidechains on its network. This enables small, medium businesses and beyond to deploy their decentralized apps and tokens on their own personalized sidechain in a safe, secure, convenient, risk-free and trustless manner. Tokenization of businesses is unlocked by the NSG token and hundreds of businesses have deployed the NASGO blockchain into their processes so far.
What is the vision for NASGO?
NASGO envisions itself to be the leader in bringing blockchain to all businesses. Not only for companies, the NASGO blockchain also focuses on the individual user, such as an artist (musician Jaafar Jackson is an example) who tokenized his music on NASGO. NASGO sees itself as giving power back to users of the internet by decentralizing control and cutting the middlemen out of business. The goal is not only to help optimizes businesses, but to empower the world through blockchain.
What is are some specific use cases for NASGO tokenization?
Tokenization allows musicians to interact directly with their audience. Since there is no distribution required when music is released on a blockchain, musicians can sell their music to fans and receive payment directly through, say, the NSG token. Musicians can also host fan engagement activities through the blockchain such as giveaways. For the fans, the blockchain is powerful because it provides a trustless environment. That means fans know for sure that they are getting the music directly from the artist with no interference from intermediaries.
One example of a use case outside of music would be entertainment. Imagine content creators eliminating the need to share their profits “in-between” services like Youtube or Twitch. Top vloggers would be able to directly share content to fans who can elect to subscribe or donate to these creators. All of this can be possible thanks to an already running NASGO blockchain… see VAPR for more info — http://vapr.net/
How is NASGO helping to build “trust”?
Each business has an element of trust that needs to be developed. If clients or consumers do not trust a business to make decisions that are in their benefit, then trust is lost. Businesses need to develop a sense of credibility and reliability in their dealings or else no one will deal with them. Blockchain completely upends the traditional system of simply trusting a company and hoping for the best. The NASGO blockchain gives users the power to use an immutable ledger to see where, when, and how their data, money, or information is used by companies.
How do I become a delegate?
To be a delegate, a user needs to register a delegate account. This is accomplished from the client user interface in either a full or lite wallet. Keep in mind that block generation is only possible in the full wallet. This means that you can register a delegate in either version of the wallet but you will only be able to perform the delegate functions from a full version of the client wallet. The account number and username will be the same after the delegate registration.
All NASGO accounts are eligible to become delegates. New delegates start as standby delegates. Standby delegates begin with an approval rating of 0% and will need to accrue votes from the NASGO community in order to advance to be one of the top 101 delegates. Block generation is performed by the top 101 delegates only.
What is a NASGO sidechain?
Sidechains allow a blockchain platform to optimize its resource management. A NASGO sidechain can house its own database, consensus algorithm, trading mode and account architecture, with low time investment involved. Sidechains are also able to adjust or upgrade their specifications should the requirements change in the future. This decentralizes points of failure, ensuring that the sum of the network’s parts is greater than any single contributor.
If you have any more questions or need support, join the official NASGO Discord server!
