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Weekly Summary of PCHAIN+UDAP AMA on 25/9/2018

We have finished the weekly AMA with Dr. Feng Cao and UDAP’s 3 Co-founders (Bing Ran& Li Zhang& Frank Ying) on the telegram on Sep 25. Thank you for your participation and support. The following is the summary of the AMA.

Part 1: Dr. Feng Cao — Introduction of PANDA and Its Expansion

Q1: Any plans to adopt existing technology or incentive some team to make human-friendly wallet’s name? Instead 0x4d5fb725dF88309d…, will be yourname.pai
Feng: It can be done in application layer. We can encourage our wallet partner to provide this function.

Q2: The tps is so high, I think the store volume should be big, any solution for store?
Feng: It’s a separated direction we already toke a lot of effort on it. Eg., we designed a simplified way to store a group of tx.

Q3: Regarding the Nodes: the 6–8% rate of return for supernodes and 60% rate of return for dynamic supernode…. is this % against the number of tokens you hold (proportional to the amount of token u hold, if u hold 100k and you are a supernode you get 6% of 100k)… or is the % against the rewards distributed equally?
Feng: Dynamic means the Super Nodes will be selected in each epoch. Executive Super Node can stay in relative longer time While it will also changed later on. Regarding the rewarding, it will be half for every 4 years.

Q4: Hi Jeff. I am interested to know if you have had any discussions or interest shown with any significant state or corporate actors within China or elsewhere. I know the main net is a while away, but is the framework for institutional level use being considered? If so how? Thanks.
Feng: Yes, eg. our collaboration with BVI-CN Lab and we have many DAPP partner such as UDAP contracted with a large ticketing company.

Then Dr. Cao Feng transfer to UDAP’s 3 co-founders: Bing Ran & Frank Ying & Li Zhang.

Part 2: UDAP + PCHAIN — The Best Future

Q5: What you are trying to solve in UDAP?
UDAP: “We’re building a middle layer between applications and the public chains, the middle layer solves a few common issues with building dApps.
1) Coding smart contracts right is hard. We’re building a suite of start contracts so that app developers don’t need to.
2) We’re targeting specifically the non-fungible asset market by introducing a new asset model called Singular, which is based on the idea that “One thing, one contract”. The singular model focuses on single items in a real world, in the meantime offers seamless integration with existing token standard such as ERC20 and ERC721.
3) We’re building a state channel framework for non-fungible asset trading as well.

Q6: Are you satisfied with UDAP as layer 1?
UDAP: Yes, we have high hope of PCHAIN to say the least.

Q7: Is your project similar to raiden network?
UDAP: Not really. Raiden is more about payment while UDAP is about tokenizing non-fungibles and the trading.

Q8: Why Dapps should use UDAP not directly build on public chains?
UDAP: Coding directly with EVM is hard. It’s like the first generation of web site that’s coded with CGI. It’ the middleware and framework movement that has given web1.0/2.0 the life.

Q9: You are specialize in ticketing can you tell us more about it?
UDAP: Ticketing is just one of the applications that can easily built with UDAP technologies. We’re working with this big ticketing company to help them move to a decentralized inclusive model.

Q10: What is your plan to focus on UDAP? How can get benefited?
UDAP: UDAP is one of the very few public chain projects that delivers real TPS and it’s EVM compatible. The experience with it has been very positive.

Q11: What is the role of API on your platform?
UDAP: We offer a simplified asset programming model called “asset-oriented programming” model, where the UDAP helps to tokenize app’s asset with UDAP and most of the business logic is still implemented in what every Internet technologies the applications choose to use. Apps call UDAP when there is transactions on their assets, such as the change of ownerships, etc. UDAP has delivered Harvest Wallet — an Asset Wallet thats supports Singular tokens and ERC721 tokens.

Q12: When you plan to launch your product to the market?
UDAP: We’re releasing the UDAP node and the wallet in MVP form in the next few weeks, some time in October.

Q13: I take it you will be doing an ico on UDAP when the mainnet is ready?
UDAP: UDAP asset wallet has built-in support for UDAP and you can use this wallet to create your own blockchain assets, e.g., certificates, invoices, memos. You can use UDAP PAI to attend UDAP special presale now.

Q14: What is your estimated volume of transaction per day?
UDAP: The volums of transactions will pick up once some of our applications start to roll out.

Q15: UDAP use only UDAP platform?
UDAP: We used to work on Cosmos, but Cosmos team have been late on many of their milestones. Although they have started the whole Tendermint thing.

Q16: Do you have demo ready?
UDAP: The wallet app will be released for public review and testing in two weeks. https://www.youtube.com/watch?v=IKd4it1zvBY

Q17: Will game developers need to build on UDAP or will they only need UDAP for in game assets purchases?
UDAP: It’s our goal to give developers a full abstraction of the underlying public chain. We will deliver UDAP another in-house developed application — Umedia, a music marketplace and music player for musicians to sell their copyright protected music, for users to trade with other users.

Q18: Is this a kind of music streaming like Spotify?
UDAP: UMedia is not about streaming. It’s about whole song trading. We’re in talk with some potential partners who are interested in running this. But for the least we will show to app developers how a full features e-commerce app can be built on top of the UDAP tokenization service and state channel service, to deliver Internet-grade experience and innovative blockchain features.

Q19: Any advantage of using PAI? Any bonus plans?
UDAP: This is the message I have received from our ICO manager: When UDAP starts ICO, Chain community enjoy a 10% discount when buy by PAI.

If you are interested in participating in UDAP token sale, please join UDAP’s telegram community @udapcommunity and browse UDAP website https://www.udap.io/ for more info.

Thanks! UDAP. PCHAIN+UDAP will open a new era of blockchain. Please stay tuned.

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Thank you for reading!

PCHAIN will hold AMA with Dr. Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!

Welcome to learn PCHAIN at:
Telegram 1: https://t.me/pchain_org
Telegram 2: https://t.me/pchain_org2
Telegram(Chinese Community): https://t.me/pchain_CN
Telegram(Russian Community):https://t.me/PCHAINRussia
Telegram(Germany Community):https://t.me/pchain_org_de
Telegram Announcement Channel: https://t.me/pchain_org_ann
Medium: https://medium.com/@PCHAIN
Steemit: https://steemit.com/@pchain
Reddit: https://www.reddit.com/r/Pchain_Org_Official/
Twitter: https://twitter.com/pchain_org
Founder/CEO’s Twitter: https://twitter.com/jeff_fengcao

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