The Fifth Live Q&A on the Official Telegram
9 Questions and Achievements on September AMA
Reflecting careful steps toward the Korean market, POPCHAIN was listed on GDAC, the cryptocurrency exchange, on the 13th of September. Four days later, the POPCHAIN Foundation signed an agreement with Actwo Technologies, the operator of GDAC. This is probably why the 5th AMA session held just after the Chuseok holidays, on the 28th (Friday), attracted a lot more attention than ever.
The POPCHAIN Foundation started the AMA session by introducing the business performance over the last month. Then, followed by answering the pre-submitted questions, on-site questions were also answered. For those who did not attend the AMA on last Friday, here is a transcript. This AMA session was headed by David Lee, Business Team Lead.
Intro
Hello, everyone. How did you spend your holidays? This is David Lee, Business Team Lead of POPCHAIN Foundation, speaking. September was a month with a big progress for POPCHAIN. More than 200 people joined our official telegram and various questions were brought up by existing investors. Today, we would like to share our pathway for the past month and give answers to your questions.
Community Event
On September 9 (909) POP day, we held a small event for POPCHAIN Korean community members, exclusively. Even though it was our first event, a lot more people participated than we had expected to end the event successfully. We would also like to thank you for your interest in the POPCHAIN T-shirt that we designed for this event. Airdrops were completed last Thursday (20th), and the t-shirt delivery will start next week, due to the long holidays. Thank you again for your participation and we will look forward to hold more events in the future.
Exchange
POPCHAIN was listed on GDAC on September 13, and it is now tradable with KRW for the first time. GDAC is the first domestic exchange to list POPCHAIN as POPCHAIN was only tradable in the foreign cryptocurrency exchanges until now, including CoinBene, LBank, and Bit-Z. PCH now has become more accessible for domestic holders. In addition to listing on GDAC, the POPCHAIN Foundation agreed on business and technological alliance with Actwo Technologies, the operator of GDAC.
On top of that, we would like to notify you that Bimax exchange, which has been advertising the first domestic listing of POPCHAIN on the main page of the ‘Coinpan’ community website, is not an official listing which has not previously been agreed on. Issues regarding the exchange will not be taken care upon from the POPCHAIN Foundation. Please be aware of the risk of making investments.
In the meantime, Vietnamese Biztranex exchange opened on September 19th. As a cryptocurrency exchange that supports Vietnames đồng (VND), Biztranex cleared out the solution for the current situation in Vietnam of using foreign exchanges in opposition to the high interest and the will to make investments in blockchain and the latent positive effects on both POPCHAIN and Biztranex itself. As it is under final inspection, the actual transaction is scheduled to commence on October 5th.
Partnership
For the success of the POPCHAIN platform after the launch of its mainnet, we have met with several content providers and people from various blockchain projects to discuss future partnerships. First of all, we have participated in the Broadcast Video Content Market BCWW 2018, held at InterContinental COEX, Seoul, Korea, on September 4–6. Our gains were (1) providing with the awareness for the need of the blockchain technology application in the content field, and (2) agreements on the future collaboration. Web-dramas and other content providers also promised content provision after the launch of the POPCHAIN platform.
Furthermore, a partnership with North American project on the music content is on progress. This project especially has a lot of network in the hip-hop arena that our DAPP, Red&Yella, focuses on. With great interest in POPBOX as a gateway to the complete decentralization by securing network and server, it called us for a partnership. We will try hard to let you know about the partnership in the near future.
New Technologies
The new technologies of POPCHAIN that you might have wondered were introduced in the POPCHAIN’s official medium article last week. These are updated in the Github and accessible for everyone.
To summarize the content, ‘CryptoPop’ is a CPU mining optimization technology. It highly increases the mining efficiency of the CPU than existing professional mining rigs, so that the general public is allowed to mine PCH freely. ‘Popnode’ has supplemented the limitations of Masternode used by Dash. Hierarchies are absent in this form of node so that it secures the mining equality.
‘GHOST Protocol’ is an already proven technology that increases the speed, the long-time disadvantage of the blockchain. It was successfully implemented in the Ethereum network and POPCHAIN will be the first to implement this technology in Korea among the UTXO-type blockchains. ‘Cross-chain’ is a technology that connects multiple blockchains. Through this technology, PCH will be tradable with other coins without having to use cryptocurrency exchanges. More information about these technologies can be found in the following medium article.
About POPCHAIN’s 4 New Technologies
[POPstory14] Updates on the POPCHAIN’s New Technologies
medium.com
POPCHAIN’s Testnet, which was originally scheduled to be on the mid-September, is delayed to Q4 followed by the implementation of GHOST and Cross-chain. The source code will be released and verified to check errors and ensure completeness before the launch of the mainnet.
Q&A
Q1. Progress with Bithumb
A. We can tell you for sure that talks with Bithumb have not yet ended. As you already know, the listing was postponed due to the widespread rumors about the listing. Since then, the POPCHAIN Foundation has not only participated in major blockchain events in the past four months, but also opened up a number of meet-ups on top of making progresses in the core technological development to restore trust. As one of the results, we have opened up the Korean Won market at GDAC. We are also not far from achievement of the ongoing discussion on the partnership. We are being ‘cautious’ in every aspect, and of course the same applies to the relationship with Bithumb.
Q2. POPBOX Sales/ Mainnet Schedule
A. POPBOX sales will start shortly after the launch of the mainnet, as POPBOX mining will be available when the mainnet is complete. Mainnet is expected to be launched at the end of the year, and the current development process of the software for the POPBOX is at the finishing stage, expanding its hardware specifications.
Q3. GDAC listing fees
A. There was no listing fee paid to GDAC and it is very clear. However, the two companies planned the event under discussion and PCH and GDAC token (GT) were paid for the purpose of PCH transaction activation.
Q4. Bithumb/ Upbit listing schedule (Excluding other exchanges)
A. Currently we are not in discussion with Upbit.
Q5. Plans to sell the lock-up quantity when released?
A. The foundation owned quantity release date is after 12 months, not 6 months after the issuance, and it will be released in the following year. We are also aware that selling in the short term after the release in 2019, as you may concern, can have an adverse effect on the PCH price. Therefore, we want to be careful for when it is not a platform operation purpose. Even marketing volumes that do not have lock-ups are used after several reviews for platform activation purpose.
Q6. Current POPCHAIN employees (Development +Marketing)
A. We have 50 Developers and 15 Business team members.
Q7. Is the coin going to be distributed on 1:1 ratio after the mainnet launch?
A. Yes. We have also stated this in the POPCHAIN whitepaper.
Q8. Any in-house developing DAPPs?
A. POPCHAIN Foundation is currently developing CeluvTV and Red&Yella with our strategic partner THE E&M, a Korean entertainment company. We are also having multiple meetings with various DAPP partners for further development. Specifically, a North American hip-hop related DAPP is on discussion.
Q9. What is the approximate price of POPBOX?
A. The cost is not yet decided. It is difficult to say exactly, but we would say it will cost about 100K~200K KRW (100~200 USD).
POPCHAIN Korea Official Telegram : https://t.me/popchain_kr
POPCHAIN Global Official Telegram : https://t.me/popchain_global
POPCHAIN Global Official Twitter : https://twitter.com/POPCHAIN_Global
