FESSCHAIN x SATOSHI CLUB RECAP for AMA from May 19, 2020

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Satoshi Club

10 min readMay 22, 2020

Welcome to a new episode of our AMA series. On May 19th our friends from Fesschain were invited to conduct a session with Satoshi Club Community. Our guests were @ProFESSor and @dptripathi, CMO and Founder/CEO of Fesschain respectively. They interacted with our community and answered a lot of questions.

The total reward pool was $250 and was split in three parts.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Irina Kravchuk | SatoshiClub: Hi everyone and welcome @ProFESSor and @dptripathi. Thanks for taking the time to join us today. @ciupidos and me will be your hosts today

ProFESSor: Hello Dear Community of Satoshi Club.

Mr. Tripathi | Fesschain.live: Hello Irina, thank you for inviting.

Irina Kravchuk | SatoshiClub: Please tell us a little bit about yourself.

Mr. Tripathi | Fesschain.live: So Myself Durga Prasad Tripathi, Founder & CEO FESSCHAIN, after Law, Blockchain took my attention more than of our law books and FESS Chain happened. Here I am with my mate ProFESSor to talk about it in Detail.

Irina Kravchuk | SatoshiClub: Nice. So you were into law field before blockchain?

Mr. Tripathi | Fesschain.live: Yes.

ProFESSor: I am Chief of Product and Marketing at FESSChain. I am a Certified DS (Data Science) having 6 years of diversified work experience majorly in marketing followed by product domain. I am working under the great leadership of FESSChain CEO Mr Durga P. tripathi and the journey has been awesome so far.

Irina Kravchuk | SatoshiClub: Glad to hear it. So, in the first part we’ll have questions that we’ve collected from the community.

Q1 from Telegram user, @Kun4321:

What is the FessChain Blockchain? What are the differences and key features by comparing with the others? What was your motivation for creating FessChain?

Mr. Tripathi | Fesschain.live: So FESS Is an AI operated Blockchain POP operated blockchain that uses Volume Oriented fragmentation version 1.0 to settle data into blockchain. Before it processes data into the main chain it fragments the data into unit parts possible in sub chains. It only saves the relevant data into main chain.

There are many features which we can discuss with time but one of the most prominent one is it doesn’t get slow with time and load on the chain. Unlike others even after Being PoP based on PoW the settlement in the main chain speeds up with the time and load.

Talking about motivation… The settlement descepencies, difficulties of Blockchain in to real life and love for blockchain made FESS happen.

Irina Kravchuk | SatoshiClub: And POP stands for what?

Mr. Tripathi | Fesschain.live: proof of proof.

Irina Kravchuk | SatoshiClub: And who are your main users? Whom does this technology fit the best?

ProFESSor: Mainly Business, developers and individuals with specific utility demands, as the FESSChain ecosystem has a lot to offer in terms of Solutions.

Q2 from Telegram user, @King_raja

As I can See Fesschain have very Large supply, what is the main reason for that you decided to have large supply?

Mr. Tripathi | Fesschain.live: This question is widely asked, FESS Doesn’t have large supply in real. It looks like it has.

1- FESS has allocated 25% for Mining.

2- 39.XX% is allocated for Various Dapps Users (who are using it for the sake)

These two large portions have more weightage which is going to work in the favour of our FESS.

Now Understand this part -There are three kinds of supply I believe-

1- Total Supply — 10B

2- Circulating supply — 600M

3- Floating Supply — yet to be announced which will be even lesser than Circulating

So it appears it has large supply but in real it hasn’t

Irina Kravchuk | SatoshiClub: And those 25 and 39% are blocked in reality, right?

Mr. Tripathi | Fesschain.live: Yes.

Ciprian Cibotaru: Maybe you can tell us about token sale, what was the hardcap and how fast was reached?

ProFESSor: Definitely. Talking about our IEO held on 1 March 2020 on DigiFinex. Hard Cap: 8.76 Million (achieved within 43 secs). In fact oversubscribed by almost double margin.

Ciprian Cibotaru: Wow, really fast, was it first come first serve based or lottery like Binance?

ProFESSor: First come first.

Q3 from Telegram user, @philicrohit

As an Indian project how FESSCHAIN deal with legal and regulatory compliance when there was some restriction from Indian government when project was initial stage in 2019?

ProFESSor: We had our preparations as investors and our strong global community of 25k+ people is our Top priority. We already had preparations regarding opening another base outside India. But I am glad the Indian Community fought for the Crypto Rights and the Hon’ble Supreme Court revoked the ban.

Mr. Tripathi | Fesschain.live: Adding. It was never banned to operate as a blockchain tech company. Only Banking Transactions against to Cryptos were.

Irina Kravchuk | SatoshiClub: Where are you based by the way?

ProFESSor: In the Indian Capital, New Delhi.

Irina Kravchuk | SatoshiClub: By the way, do you work from offices in this period? or from home? I mean with covid restrictions and all that.

ProFESSor: No, its 100% work from home due to covid19.

Q4 from Telegram user, @ravi2139

As per white paper of Fesschain there is been road map till may 2020 only, it seems different from other projects, what’s next target for FESSCHAIN?

Mr. Tripathi | Fesschain.live: It’s an Old WhitePaper we also coming with our second Whitepaper and for our updated roadmap please go through https://fesschain.live.

Irina Kravchuk | SatoshiClub: So no vacation in the near future? Everyone is working?

Mr. Tripathi | Fesschain.live: We were never on a vacation we survived longest winter of the crypto industry we missed targets but here we are with the best. BTW our first product is ready to hit the markets.

Ciprian Cibotaru: Can you share with us more details about your first product?

ProFESSor: Yes, our First Product is World’s First truly user’s cryptocurrency exchange and the name is BitHind. The telegram group for @bithind is already here and our beta version is at the verge of launch and can be live anytime soon.

Q5 from Telegram user, @dani_unss

It seems confusing when I look at FessChain ecosystem. Can you have a short introduction about the structure of your ecosystem? What are the most outstanding use cases you want the world to be remembered when talking about FessChain?

Mr. Tripathi | Fesschain.live: FESS Ecosystem has the cheapest computation cost at 0.1$ per GB which makes us more affordable to compute and hold TBs of data in large industries as well. It has super scalable model of increasing settlement Speed with load on the chain which makes it awesome to be used in any group. Few of them are here:

1- Zero Budget Agriculture

2- widely privacy Dapps

3- Decentralized Ecommerce

4- Payment unification

5- FItness Dapps

And many more, few of the above are included in our INhouse Dapps.

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 2 minutes and some hundreds of questions were posted by the Satoshi Club community. ProFESSor and Mr. Tripathi have chosen some of them but just the first five were rewarded.

Q1 from unknown Telegram user

“It was about Exchanges.”

ProFESSor: On 21st may 2020 FESSChain has its first listing on DigiFinex and yes we will go for bigger exchanges in future.

Q2 from Telegram user, John I

What is FESSLEXO? How important is it in the Fesschain?

Mr. Tripathi | Fesschain.live: So a question I would happily answer, FESSLexo is a legal journal with legal time stamps that makes courts Immutable and totally Online terms of amendments and judgements.

Q3 from Telegram user, Mikurana

Marketing is a leading element for every project. So what is your strategy to attract customers and investors to FESSChain in the long term?

ProFESSor: For us its keeping up our promises and delivering the real products. A satisfied user is the best marketing a company/product can create so building user centric products and providing them the best experiences will be our main focus/strategy.

Q4 from Telegram user, Srintiel

What applications are currently being built on FESSChain? Are there any planned for the near future?

ProFESSor: Yes, Bithind will be the first product of fesschain… And yes by the year end at least one more product can be expected. Though FESSChain is known for surprises.

Q5 from Telegram user, Lester

FESSCHAIN uncovered your first product name “BITHIND Exchange” and in the Whitepaper you have “FESSEX: The FESS Exchange”. Does it mean you have two products based on Crypto Exchange concept?

ProFESSor: No its not, FessEx is now Bithind. Both are the same.

Q6 from Telegram user, Dakocan

Where can I Use FESS token? I mean use cases of FESS in real life or real business. Why It is important people invest in?

ProFESSor: First use case will be our global crypto exchange BitHind. In fact, it will be the first time in the history of Crypto industry where a Native token arrived before a crypto exchange, so yes BitHind is very very Special in this case.

Q7 from Telegram user, SmAG

1. How will the deployment of a Fesschain technology helps us to solve our problem or achieve our goal?

2. Do you think the use of blockchain technology would improve the security of information transfer on the Internet?

Mr. Tripathi | Fesschain.live: 1. It depends on your goal in which sector you are pinging in with your blockchain dream. Neutrino helps us to settle any data anywhere any time and blockchain is all about that.

2. Blockchain has cryptographic storage of characters which cannot be computed via any super computer, whereas FESS Uses Bitcoin blockchain to secure its chain. We all know where Bitcoin blockchain can’t be manipulated even if all the super computers together want to manipulate it.

Q8 from Telegram user, OYIBO PEPPER

Fesschain announced “Trading Fest” giveaway of $100k worth of BMW 3 Series, Honda Civic, MacBook Pro & 350k FESS Tokens. What is the purpose of such big promotion? are you financially capital well-funded for this promotion?

ProFESSor: We believe in giving back to community and being a sound minded business we have solid backings before offering a 100,000 USD Prize pool, which includes BMW, honda and Macbook as reward for ‘FESSChain Grand Trade Fest’.

Q9 from Telegram user, OYIBO PEPPER

The TPS of FESS main chain goes upwards instead of falling down., kindly explain more about your TPS to handle 21st century settlement needs, explain how your TPS will keep on rising and what exactly is your TPS value.

Mr. Tripathi | Fesschain.live: One of the nicest question I must say. In blockchain due to crypto we see TPS not settlement. But the right way to judge the tech should be to judge the settlement vows.

We here at fess chain we process:

1- All the data simultaneously.

2- In unit parts possible.

3- And saves in main chain simultaneously with in Time Stamp.

So no matter how big the data is, it settles itself with in same mean time.

Q10 from Telegram user, Yeni Mariam

What is your plans in place for global expansion? are FessChain focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?

ProFESSor: Fesschain is a global project from the day 1 and with our soon to be launched global exchange @bithind we are just keeping our words.

Q11 from Telegram user, Fly mom

How is FESS token uses for in FessChain? How to keep motivation to hold FESS tokens in the long term? How will you plan to dominate market?

ProFESSor: For this I really want to wait everyone for our crypto exchange @bithind. We are coming with some cool features for holders/stakers.

Q12 from Telegram user, Tony

Is your team the best?

ProFESSor: Yes, they are best and we are proud of our team! FESSChain is here because of the support and hardwork of our team.

Q13 from Telegram user, r s

One of the biggest problems with DApps is the inactive and useless state. People only create DApps but it has no use case or contribution to the blockchain ecosystem. To prevent and solve this problem that can occur on the FESS Chain platform, what will your team do?

ProFESSor: The Question doesn’t make sense a lot of DApps are already in the market and being used extensively in all crucial fields including healthcare, DeFi, Education etc.

Mr. Tripathi | Fesschain.live: Thank you very much Community. It was fun being here.

PART 3, QUIZ RESULTS AND CONCLUSION

As usual, for the third part Satoshi Club Team asked to the chat 4 questions about Fesschain.

Above: Correct answers graphic from the Fesschain Quiz.

ProFESSor: We received an electrifying response from the satoshi club community. We want to bid thank you to each one of you for your time and efforts to make this AMA successful. We welcome you to Join our @fesschain community to make it truly global and inclusive. And request you to be there with us when we launch our Global Crypto exchange @bithind.

Mr. Tripathi | Fesschain.live: It was awesome being here guys, it felt like I am leaving stones unturned while being short at time. I am leaving with a promise that We will do another AMA soon without constrain of Time.

One more thing I am as excited as hell to gift brand new BMW to our heartfilled people go though https://medium.com/fesschain/announcing-fesschain-grand-trade-fest-with-bmw-100-000-in-prize-30f1853ee697?sk=42b85ed7534971c8d7ef29a576ffa95c and participate.

Ciprian Cibotaru: Thanks for sharing with us, good event for our community, especially for AMA winners.

Irina Kravchuk | SatoshiClub: Thank you for taking the time to join us.