An Interview with Community Lead Mikhail Maximov from Giant (GIC) on Altcoin Magazine

Turning Blockchain Into Value

The Capital
Nov 21, 2018 · 9 min read

Hello Mikhail. Could you please give us a brief introduction to the project, what you’ve created, why? How will your project make a difference in the world?

Hello Emil. Thanks for having me. I wish I could make a long story short but I can’t. Being a part of the Giant team gives me a great deal of insight I can’t wait to share.

We are creating a blockchain and smart contracts-backed products environment. This technology is called Giant and its top use case is to solve the problems of betting industries. We’ve decided to create the first products on our own. They will demonstrate the competitive advantages of the Giant infrastructure.

When creating our technology, we have borrowed the features of other successful projects: the smart contracts concept from Ethereum, the masternode technology from Dash, and the Proof-of-Stake consensus algorithm is from PIVX. Despite the fact that decentralization is a necessary condition and a key value of blockchain projects, we consider Dash self-governance mechanism highly underrated. We aim to further develop these findings and show how useful the masternode technology will be for the regulation of the smart contracts ecosystem.

The first product we are actively developing right now is Giant.Exchange, a binary options platform. We are going to use it as an example when telling about the Giant technology.

First of all, the project team is not a participant of any trades. Every user can become a Broker by writing a smart contract with a masternode signature. Our Smart Contracts are based on JavaScript — this will seriously increase the base of potential creators, as today, this programming language is one of the most popular ones. Giant Coin (GIC) is the internal means of payment. This allowed us to avoid the centralized storage of user funds. All the money is stored on the local user wallets — this is how the platform security is backed by the Giant blockchain. All the trading data is stored on smart contracts. All deals and the rating of participants are accessible to every user in the system. The underlying asset price data source is a smart contract called Oracle. We have deliberately added a third party with a reputation system to exclude all — even theoretical — possibilities of tampering with the underlying assets data. In their perfect form, binary options allow to bet on the price movement of an underlying asset — it can be Bitcoin, the United States dollar, anything you want.

If your option wins, your reward is automatically transferred to your wallet. The smart contract is making the payment and nobody can influence this process. The fee amount is defined by masternode owners voting, same for the exchange budget formation and subsequent usage.

In other words, Giant.Exchange is only one of a myriad of our smart contract system use cases. The Giant blockchain is the back-end for the trading platform. In the future, we are going to focus more efforts on making the underlying technology more popular.

We are getting close to the release of GiantJS — a sandbox for smart contracts. The exchange Web interface development is also absolutely transparent. We are illuminating all the top priority tasks and publish them on our website and social media channels.

This is how the main problem of the sphere of binary options is solved: the broker cannot hide the deal results. The trader is making a decision by using the open data as a reference, while the deal terms remain unchanged.

Tell us about your accomplishments so far, and tell us what you are most proud of having accomplished in the history of the project.

We are proud that we had not attracted any additional investments and didn’t launch an ICO. The Giant blockchain development, the Giant Coin promotion, the Giant.Exchange binary options platform creation — all this is being made on our own enthusiasm and at our own expense. Due to the fact that we are, too, maintaining several project masternodes, we are interested in the fast and high-quality development of the project just like any other network participants. This solves a so-called agency problem well-known in corporate finance.

What is the most noticable thing about your project? It might be something you’ve developed or something you’ve achieved.

In Giant, a unique self-governance mechanism is already in action. We are actively engaging with the Giant blockchain participants. For instance, during a difficult moment for the project, we’ve had a successful vote on the move to Proof-of-Stake (PoS). The professionalism of our developers has made it possible to avoid any errors. The close cooperation with the community has guaranteed that all participants did not forget to update the wallet client — not doing this would have resulted in the loss of funds. For the same reason, we desire to provide a maximum amount of information for our community.

We’ve already created over 30 articles that provide a wide understanding of our project, including our reports on two-week sprints performed in accordance with the Scrum methodology.

Give us a quick rundown of the future of the project. What’s on the drawing board?

Right now, several development departments are creating the Giant Smart Contracts Development Kit, Giant.Exchange and improving the security of the Giant blockchain. We plan to release the SDK and Giant.Exchange simultaneously. Afterward, we will sequentially release Giant.Bet and Giant.ColdStake. These are two other products implemented on the Giant blockchain. You can read more about them on our website. There’s also a link on Trello that reflects the consistency of our work and deadline. Check our GitHub to see the short-term goals of our developers.

Tell us about your team. Who’re the people behind the screens?

Our team is just as decentralized as the blockchain itself. Today, we employ 12 people and we are working together while living in different parts of the world. The project is not rigidly tied to a certain place because it allows finding the best professionals wherever they are situated. At the same time, we are trying to expand the team with the community members who are well versed in the project. It’s important to note that we are opening new positions and expand the team as soon as we are seeing functional responsibilities that can be taken by an individual professional. This is why we are seeing fast adaptation and quick first results after every new hiring.

At the moment, our team consists of 5 developers, 3 marketers, 1 project manager (PM) and 3 community relations experts. Additional 6 people are members of the community who work with Giant, freeing us of several day-to-day tasks.

Among our developers, there are two JavaScript specialists, one FullStack Developer, and two C++ Devs. The Technical Lead who is also responsible for the product development has the knowledge of the majority of popular languages up his sleeve, especially Java, JavaScript, and C++. For this reason, he is capable to see the bigger picture of the Giant technology and optimize it efficiently.

Which partnerships have you engaged so far, and which ones are the biggest?

We are trying to find partners who, like us, are planning long-term. At the start of the project, we have been actively working in the sphere of masternodes. We’ve been establishing communications with services which simplify the masternode installation and hosting for our users. The masternode market analysts have also been contacted with. But right now, we are aiming to go beyond the borders of this market and building contacts with Medium bloggers and with the founders of social media channels on the crypto market in general. Offline forums and conferences are also very helpful, as we are able to understand what people want when we talk with them in real life. Some of the partnership agreements which are the direct result of this work will be announced quite soon.

What kind of marketing do you practice to get your project, your product, and your mission out there? Do you attend any events or conferences?

We’ve been in a search of our own unique marketing approach for a long time. The testing of various instruments and methods is still ongoing. But we’ve become confident that our main capital is the community which has already formed around the project. This is exactly the reason why we are seeking to engage with them 24/7. Our Discord server and other social media channels are being used for this.

Special note should be made of our articles. It is through these materials we are broadcasting our beliefs and our approach to blockchain technologies. These publications allow providing the most detailed information for all who are interested in our project.

As for events or conferences, we are indeed attending them anytime we can in order to stay in touch with the market situation, develop as many business relationships as possible and tell more people about our project.

What is the best article that has been written about your project so far? Throw a link below and let us know why.

We’ve written over 30 materials which provide a quality explanation of specific aspects of Giant, Giant Contracts or Giant.Exchange. Despite this, we recommend for every newcomer to read a review article of the Giant blockchain. The title speaks for itself — Giant Blockchain: The Best Features of Dash and Ethereum.

What are the coin metrics, and how do these specific numbers lead to a stable and balanced System?

The main metrics we are following is Coins Locked. This parameter reflects the size of the investors’ pool — a share of masternodes in the emission volume. It allows to track the sentiment of the network participants, get the market dynamics and assess our own actions.

If people want to follow you on your social media pages, visit your website or read your important documents like your white paper, what are the links they need to visit?

We have done our best to gather all the info on our website. Our whitepapers deserve special attention. Our articles are also available on most popular platforms, e.g. Medium. We also want to invite everyone to our Discord server where we can always be contacted. Discord is the first platform where all our project news appears on.

Where is the best place for people to start acquiring your currency?

At the moment of writing, Giant Coin is available on two exсhanges: CryptoBridge and Graviex. We’ve been establishing contacts with many different platforms and now we are gradually starting to understand what creates a mutual interest. This, in turn, allows us to use our resources more efficiently — we are not trying to list Giant Coin (GIC) on overrated exchanges no matter the cost. As for the current situation in this field, we are holding negotiations with Exmo and Cryptology.

Do you have anything to add before we finish?

We are proud of our materials and encourage reading and discussing all of them. Just like the Giant community, the Giant team is always learning and improving our approaches to marketing, development, and management. The crypto sphere analysis plays a crucial role and our community is providing invaluable assistance. We are critical towards the market in its current form and especially towards the ICO model. By providing our own example, we want to demonstrate the advantages of decentralization and opportunities it opens up.


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The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

The Capital

Written by

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

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