Seoul — December 5th 17:00, Ultrain collaborated with South Korea’s famous blockchain media Blockdaily, together conducted an AMA event in the Korea Telegraph Group. Ultrain co-founder Emma Liao Zhiyu and Chief Cryptologist Husen Wang answered a series of questions online. This AMA event was a success and well received by the Korean audiences! Not only did the event was evaluated by the Korean media as the most active online AMA held in recent times, but it was also highly praised for its high quality dialogue.
Q1: Let’s start with light question which many of people are wondering. How was the name ‘Ultrain’ made?
Emma: I gave the name Ultrain, meaning Ultra-in ultra intelligence as we are a decentralized engine, a powerful public chain which will integrate AI and IOT, and also implies that ultra- cutting edge and in style by our innovation, business ideas and more
Q2: What is your fundamental motivation and ultimate goal of starting the Ultrain project? What are your strengths in running this project?
Emma: In short, we are a super complimentary team good at science (Husen) engineering(CTO and chief architect) system design an token economy, crypto background(CEO) and extremely global and strong business accessibility and experiences. Our goal is to build the most powerful, good to use, and developer friendly public chain infrastructure ( having our own knowhows from consensus- RPOS, our own know how on smart contract- java script developer framework, super user friendly, our own middle ware kit like privacy- standardized ZKP solutions, true random machine, etc) to make a great product and build a true decentralized business ecosystem on top.
Our mission is called creating a programmable business society, meaning that we will build a world of decentralized business via our tech platform. To achieve that, requires a clear mission statement and ultimate goal, top capacity in R&D and business building, and a great sustainable token economy design.
and we will be a true utility token, serving as fuel, for the Dapps to use
Our ecosystem will be supported by our miners and dapps, just similar to ICO supported the value of Etherum in a way.
Q3: There is no platform yet to solve all the trillemma in the blockchain. Whether give up the decentralization or the performance, but Ultrain says it can solve all for this. Is this possible? If possible, how does Ultrain solve it?
Emma: Our RPOS is the key to solve this
https://medium.com/ultrain-chain/announcing-ultrains-public-testnet-invitation-10f620b0c921
Feel free to check this out about our public test net applications
Husen: we allow free participation of Ultrain’s network, so no compromise for decentralization. Any one with deposited stakes can have the opportunity of proposing blocks and winning rewards. RPoS also make a lot of optimizations on p2p block propagation and voting message aggregation, to make large block broadcasting possible. All sidechain participants are randomly selected and shifted on main chain to guarantee security and fairness. Software based, no need for SGX, less security problem.
Q4: I recently heard that Ultrain has expanded using blockchain by partnering with ‘HyperDargons’, an Ethererum-based game, and a card game ‘BullFighting’. I would like to get a brief explanation of partners are there.
Emma: We have many partners in different industries such as gaming, logistics, charity, energy trading, live sport betting, and in E-Commerces. Gaming is a very high demand as we could enable many cool new features and business models people in the gaming industry wish for. We have thorough article from the founder of hyper dragon why they choose to work with us not other public chain. And after all they really need a powerful, efficient and stable public chain that is truly decentralized… and we are chosen after they tested with many other public chain out there…
Q5: Ultrain has consensus algorithm its own ‘R-POS’ model and BFT. What is R-POS and BFT, and what is different from existing PoW, PoS, and DPoS?
Husen: RPoS is a combination of proof-of-stake, randomly& fairly selected proposers+voters(miners), Byzantine Fault Taulerant(fast confirmation time).
Fast confirmation compared with PoW and other PoS such as Dfinity
Fairness compared with DpoS. There are a lot use case possible for RPoS, but impossible for PoW and DPoS, in later article we will show that.
Q6: The key of Ultrain is the system that people can use tokens to vote and to participate in governance. This is similar to EOS, which gives compensation for BP voting. So, I’m wondering if Ultrain has a way to encourage many users to participate in governance, and what is specific way to do it.
Husen: We will allow stake holders to vote for important upgrades and decisions through our app/wallet. we will also support anonymous voting in the future.
Emma: Governance is always the hardest topic for any project, I would say. We are very different from EOS that we don’t only put stake and delegates of voting only by how much stake you have. In our RPOS system, stake is one of the parameters that we calculate, but there is also one node’s history of behavior, computer feature, and many more elements. So stake is not the only thing matters in being selected as consensus. On voting, we will use a sophisticated model that everyone could participate into the voting, not just assigned by certain delegates. And we will introduce a system also taking the lessons from Etherum which the system became too cumbersome to innovate and evolve. We will make sure our community will evolve with future upgrades, via a democratic way.
Q7: The Ultrain has a Ultrain Gas to pay a fee and to compensate for the nodes. I thought it is very similar to Neo and Neo Gas. I am wondering why do you separate the tokens in this way and exactly how it is used in Ultrain.
Husen: we only have ugas in our system. Users obtain a certain amount of resources such as cpu time, memory, according to how many stakes they hold.
Emma: We only have one type of token called UGAS, we are recently listed on Bgogo. Ugas is a utility token that the dapps purchase and pay us to develop and run their dapps on us. The miners will deposit Ugas and via their behavior to be part of our nodes, and receive the Ugas from dapps once they are chosen to provide the computational power running dapps. So the ecosystem is simply supported by a intrinsic growth in supply(miners) and demand(dapps) as mentioned earlier, no matter how Ugas token trading price varies, we plan to stabilize the service charge to dapps so they are paying a fair and economical fee running their program on us. We do support all dapps to issue their own toke with their own business logic and consensus on top of us via side chains, it’s similar to ERC20. In the future on Ultrain there will be many other tokens issued by using ultrain tech and will be traded freely on their own.
Q8: What is Ultrain’s future goals and roadmaps of Ultrain which dreams of becoming a high-performance third-generation public blockchain?
Husen: Soon we will release our public test net. We will keep improving performance and security, open source next year.
Emma: The 8th question, our Goal is to achieve massive market adoption via our technology infrastructure, to build a diversified and robust decentralized business society on top. Think us like a decentralized Android+Amazon cloud. That is our goal and we will achieve it, not dream. :)
TECH Q: hey how does your role as a crytologist further benefit ultrain in overall security and consensus performance
Husen: 1. our underlying crypto such as random proposer selection and signature schemes, aggregatable voters’ signatures are fundamental part of our consensus algorithm, all carefully designed for security and optimized for efficiency such as light weight client verification.
2. Unique primitives such as verifiable random function, support use cases such as random number generator in games, which will be shown in Korea meetup. Zero knowledge proof and verifiable computation pool are also being integrated.
