RISE Asked & Answered — March
Hello RISE community,
Since coming onboard late last year, I have been working with the team to improve core areas of the RISE business. With this in mind, I believe it is important to address questions that have been raised by our great community in the past and present so we can plot a path forwards together.
What is the update on Bittrex?
Unfortunately, we cannot discuss the details. As a precaution, we encourage our members who still have RISE on Bittrex to withdraw into a RISE wallet. Download a desktop wallet here: https://rise.vision and use the web wallet here: https://wallet.rise.vision/. If anything changes, we will update the community.
What happened to the incubator projects?
We understand the frustration that the community has felt around the incubator projects over the last month. We made the decision to postpone incubator projects for the time being and are considering these for the future. There are two key considerations relating to how we move forwards with these projects:
Firstly, RISE aims to ensure absolute compliance of any snapshot/token distribution mechanisms going forward. We believe it is a prudent approach to await future partnerships and then discuss incubator projects with them for their support.
Secondly, RISE initially planned to build our core blockchain technology in parallel to the incubator projects. However, based on recent events we now have decided to focus entirely on core blockchain platform first. This ensures RISE and any party that wishes to build a DAPP on our blockchain platform, will be in a far more secure and scalable position. Key to this is refining the TypeScript code base and building out RISE sidechain technology for DAPPs in the future. Only once this has been developed, tested and deployed, will RISE then look at reinstating the incubator projects. We still see immense value in the incubator projects and look forward to exploring these projects and new DAPPs with our community.
Has the vision of RISE changed?
The vision of RISE has not changed and the mission is still to build a blockchain platform to create DAPPs and provide developer tools in multiple programming languages. For DAPPs to run on RISE, we also need to build sidechain technology, which is also highly appealing to businesses/tech startups. Previous communications from RISE outlined the initial vision and RISE is now very much in the development phase of core technology. Our new website and communication will focus on building a secure and stable core to develop scalable blockchain technology for 2018. Thereafter, we will take a linear approach to further development, building out features that will compliment and enhance core technology, together with sidechain technology. Details in the roadmap to follow.
When will we see a proper roadmap on the website?
A roadmap will be released with the new website and we hope it is easier to understand RISE’s current development status and milestones that need to be achieved over the next year. However, like with most development roadmaps timelines and items are subject to change based on how well the outcome of testing is and development resources. Testing is absolutely imperative to the products we are building and therefore, we may allocate more time to this to ensure better future development.
Why is it important for RISE to be incorporated in Gibraltar?
All the relevant information is in the article: https://medium.com/rise-vision/rise-vision-incorporates-in-blockchain-friendly-gibraltar-b855f4738797
When will the website get fixed (broken links, …)
We are working on a brand new website with a creative design team who are creating a custom design for RISE. We hope this is able to be released end of March/beginning of April. This will improve the user experience and ease of access to our resources for developers and non-developers who want to engage with the RISE platform. In the meantime, if you do find broken links please alert one of the team members and we will look into this.
How many FTE’s are working on the project fulltime?
Will the fee always be 0.1 RISE, even if the price is $5. Have you thought about that situation?
At the moment 0.1 is the transaction fee, however, we are aware of fluctuations in value and in the future we hope to develop and deploy dynamic fees into our technology.
Why would anyone use RISE and an ICO platform, especially giving the hefty 20% fee? What is our pricing model? Will that change?
Yes, this is subject to change. To clarify, the fee to create and run a DAPP on RISE can be amended for developers going forward. There will be a consultative approach to pricing models for each project or business that wants to run on RISE with the sidechain solution.
Will the DAPPs on RISE be forced to use the RISE blockchain hence also the 0.1 fee per transaction?
Each DAPP will have its own sidechain that is connected to the RISE mainchain and transaction fees can be decided by the creator of the DAPP. Sidechains are best for commercial use of a blockchain, thus key to any future projects built on RISE with our developer tools.
Will every DAPP have its own sidechain?
Yes, it will be possible to implement custom tokens in DAPPs, and use these tokens as the main token within their DAPPs. These tokens may be used in the same way as RISE or BTC, but the tokens cannot be moved directly from one DAPP sidechain to another DAPP sidechain. They must only move via the RISE mainchain.
Why is RISE a 1 vote system?
When RISE was first ideated, the project aimed to take the best specifications of a few different blockchain projects. That included 1 vote per wallet, 101 delegates and developer tools for multiple programming languages. This unique combination of features created the RISE blockchain.
Is RISE meant to be a big player like NEO and ETH or for small to medium businesses?
Ultimately, RISE wants to bring the development of DAPPs to developers of all levels of expertise. You will be able to build your applications on the RISE platform and rely on RISE to provide the security of using a blockchain, instead of a developer or business having to build their own. Whether RISE is meant to be used by SME’s or Enterprise businesses will depend entirely on the throughput transactions rate we achieve and if that is suitable to the prospective business deciding to use RISE sidechain technology. We believe with the TypeScript rewrite of our core codebase, this will allow for enhanced scalability.
Would there be an cooperation between RISE and universities after the platform has been released?
We hope to have the opportunity to work directly with universities who embrace blockchain technology to offer RISE products to their faculty and students. Additionally, we are open to explore how to make our products available to aspiring blockchain developers within student communities to learn and build applications on blockchain technology with RISE.
We understand the need to answer pertinent questions asked by the community and we will work on the best way to channel these for next month. Thank you for your support.