AMA Recap — Introduction about TOP’s Latest Roadmap

Latest roadmap of TOP in 2022

Q1~Q2

1. Launch the Ethereum-compatible shards of TOP mainnet;
2. The cross-chain bridge between the Ethereum-compatible shards of TOP mainnet and ETH, BSC, HECO;
3. TOP will be compatible with Ethereum standard wallet;

Q2~Q3

1. Migrate the cooperative DeFi applications to the Ethereum-compatible shards of TOP mainnet;
2. TOP assets can be freely traded between Ethereum, BNB chain, HECO chain, and TOP mainnet;
3. Mapping and free trading of TOP stablecoin;

Q3~Q4

1. Launch TOP NFT hosting platform
2. TOP DEX will be online

Detailed interpretation

Recently, TOP’s roadmap for the new year has been officially determined. Ethereum-compatible shards, TOP DeFi application migration, add TOP to Ethereum standard wallets, and TOP assets cross-chain circulation…all these tasks will become the new goals of the TOP team. New changes will also be brought to the TOP public chain and TOP ecology, and TOP will further move towards Web3.0.

The most noteworthy aspect of TOP’s new roadmap is the implementation of Ethereum-compatible shards. The TOP public chain is the world’s first full-state sharding public chain and currently has 4 shards. Sharding is a common solution for the expansion of blockchain, but Ethereum and TOP public chain are both using homogeneous sharding, that is, the structure of each shard is the same, which cannot be compatible with other chains. The Ethereum-compatible shards to be implemented by the TOP chain are heterogeneous shards. Heterogeneous sharding means the structure or consensus of the newly added shards are different from that of other shards and can be compatible with Ethereum. Heterogeneous sharding technology can interconnect different chains, which is the general trend of blockchain development in the future.

After TOP implemented Ethereum-compatible shards, it will greatly promote the development of the TOP chain ecology. At present, the ecology of Ethereum is the most complete one among all public chains, and positive feedback has also been formed. However, the gas fee on Ethereum can only be paid by ETH, which is a high barrier for new users and limits the free transactions in DeFi. The high gas fee and the inconvenience have limited the value of DeFi on Ethereum. As a mature platform that has gathered a large number of assets, the development direction cannot be changed easily. But in the long run, such problems must be solved so that the development of DeFi can be fully promoted.

Therefore, for other public chains, it is the best choice to be able to form a complementary relationship with Ethereum and use the ecology of Ethereum to develop themselves. After the TOP public chain implemented Ethereum-compatible shards, various Dapps and assets on Ethereum can be migrated to the TOP public chain and become DeFi on the TOP chain. At the same time, the problem of high transaction fees and low transaction speed can be eliminated, allowing users to truly enjoy DeFi applications with fast speed and low fees, and further promoting the development of DeFi and prospering the TOP ecology.

After TOP achieves Ethereum-compatible shards, a large amount of Ethereum assets will inevitably be transferred to the TOP chain through the cross-chain bridge, and there will be more users on the TOP chain. Therefore, it is also an important task for TOP to be compatible with the Ethereum standard wallets so that users can conveniently add TOP assets to the Ethereum wallet and attract more users from the Ethereum ecosystem.

In addition to the compatibility and interoperability with Ethereum, TOP will also complete the asset exchange channel between Ethereum, Binance Smart Chain (BSC), and HECO Chain. At present, the cross-chain bridge between the TOP mainnet, Ethereum, BSC, and HECO has been successfully launched. The TOP token on Ethereum (ERC-20 TOP) can be transferred to the TOP mainnet, BSC, and HECO; meanwhile, the swap of TOP tokens between the TOP mainnet, BSC, and HECO have been realized.

More importantly, users can already stake TOP to mine FIL on the BSC and HECO chains. There is no need to purchase a mining machine, they only need to stake the corresponding amount of TOP on the BSC or HECO chain to mine FIL, the barrier for Filecoin mining has been greatly lowered. At the same time, the decentralized exchange MDEX on the BSC and HECO chains has also supported the trading of TOP. The next step is to realize the mutual transfer of assets between these four chains, the advantages of each chain can be put together, and the limitations of a single chain can be avoided, to truly realize the interconnection of value.

Besides, TOP will officially enter the popular NFT, DEX, and GameFi, and launch the TOP NFT hosting platform, TOP DEX, and TOP GameFi products in a timely manner to further enrich the TOP ecosystem and attract more users. With the continuous improvement of the TOP public chain and ecology, TOP will establish a super business form, in which every participant and contributor can get the return he/she deserves.

Q&A

Q: Cross-chain technology is considered to be an effective solution to blockchain scalability issues, but there were many attacks to cross-chain bridges projects last year and this year such as Qubit, Wormhole. How will TOP network solve security issues in cross-chain bridge space to help users feel safe when using TOP bridge?

A: TOP mainly ensures safety through the following actions:

1. The TOP cross-chain bridge is built into the TOP mainnet, and is jointly supervised and executed by thousands of existing nodes in the TOP chain.

2. The mature and proven technologies and tested third-party components are used and combined with the TOP chain’s own security measures and technologies to ensure security.

Q: Currently the transaction cost on another network like Ethereum gets more expensive over time. Does Top Network provide something different regarding transaction costs? How does Top Network apply transaction cost?

A: First of all, TOP is a public chain designed for communication, thus a low-cost and high-speed transmission is the core of the TOP chain’s design. The transaction cost of TOP will increase over time, but it is still affordable for the users. The transaction fee of TOP will not be as expensive as Ethereum. This conclusion can be drawn mainly because the consensus mechanism and economic model of the TOP chain are quite different from Ethereum. Ethereum uses POW/POS, and its on-chain security relies on the hash rate and the stake amount of ETH tokens on the chain, the cost to generate each block is very high, but TOP uses PBFT, which is a more energy-saving and environmentally friendly consensus mechanism, the cost of generating blocks has been greatly reduced. In addition, TOP adopts the sharding structure, which has a faster transaction speed than Ethereum. In terms of the economic model, accounts holding more than 100 TOP tokens on the TOP chain can enjoy about 21 free transactions per day, which can ensure the basic transactions of a user’s need.

Q: Is there any talk of token burning in the new roadmap?

A: TOP will gradually migrate to the GAS mechanism of the Ethereum EIP-1559 specification, which will destroy some tokens; and the economic model at the application layer will be gradually adjusted to bring more token burning.

Q: Have you tried working with local shops to accept payments using TOP Network token?

A: Not yet. But TOP will support our own Stablecoin in 2022, and we can try to promote it in the community after it operates normally.

Q: Why don’t you start letting people buy directly from HiWallet?

A: After the TOP DEX is established in 2022, this function will be supported in Hiwallet.

Q: Once eth comp shard is live, what defi do you expect to migrate to TOP mainnet or are you in talks with any of the big ones already?

A: LUCKTOGETHER and Filet are confirmed to be migrated to TOP mainnet, and then we’ll start to communicate with more Dapps and keep everyone informed, in the later stage we’ll release an incentive plan to encourage more developers to develop Dapps on TOP mainnet

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