What kind of new mining chances will come if public chains ally with mining pools?
On April 28th, TOP Network conducted an AMA with its strategic partners InfStones and Krypto Knight in the community.
Rudy Lu, marketing director of InfStones, Jackie Fang, commercial director of Krypto Knight, and Rockey, senior product manager of TOP Network, explained in detail the current situation and future development trend of PoS mining, and conveyed to the community the specific plans for the coming period, showing the community members the new opportunities of PoS mining.
The following is the full content of this AMA:
1. Please introduce yourself and your company (project) separately.
Rudy Lu, Marketing Director of InfStones:
Founded in 2018 and headquartered in Silicon Valley with offices across three countries and two continents, InfStones is the world’s leading blockchain infrastructure provider. InfStones is dedicated to bringing down the traditional barriers to connecting with the blockchain, allowing clients to quickly build their applications on top of hundreds of blockchain networks. Currently, InfStones provides services to 50+ large institutional clients around the globe, including industry leaders such as Binance, BitGo, Circle, imToken and others. Through its unified platform, InfStones has supported thousands of nodes on over 50 public chains.
Some recent big events: InfStones selected by Binance as the Ethereum 2.0 Staking infrastructure service provider. And InfStones partnered with imToken to launch wallet non-custodial ETH2 deposit service.
Jackie Fang, Commercial Director of Krypto Knight:
Krypto Knight is a blockchain infrastructure and services provider based in the US. We focus on promising decentralized blockchain protocols and have rich experiences in node management on all leading public chains.
High availability has always been at the priority of our business. We have experienced engineers and utilize hybrid cloud deployment to ensure redundancy while achieving nodes monitoring and disaster prevention 24/7, to make sure high availability.
Rockey, Senior Product Manager of TOP Network:
TOP Chain, the public blockchain infrastructure underpinning the entire decentralized ecosystem, is the world’s first full-state sharding public chain.
First of all, TOP Chain is technically superior. It is the world’s first all-state sharding public chain, and it is also a high-performance public chain platform truly built for massive business on the chain. Powered by an innovative three-layered ledger architecture consisting of a main chain, service chains, and off-chain ledgers, TOP Chain is capable of handling real-world business of any size and volume.
TOP Chain applies technological innovations such as a two-layer lattice DAG, two-layer sharding, and a parallel pBFT-PoS consensus mechanism, making a single chain capable of processing over 100,000 transactions per second. Equipped with high TPS, airtight security, and extremely fast confirmation times, TOP Chain is a reliable platform for services demanding high-frequency transactions such as communication, gaming, social media, big data, artificial intelligence, IoT, and more.
Secondly, TOP Chain has a great number of potential users. Over 100 million global users will be progressively migrated from the pre-existing communications Apps — Dingtone, CoverMe, and SkyVPN — to TOP Chain, generating a huge volume of transactions and traffic to make TOP a prosperous blockchain ecosystem.
Finally, our TOP mainnet has been successfully launched and TOP mainnet mining has been officially opened. Moreover, TOP mainnet mining is still in the initial mining stage, and the highest APY of senior miners is over 3,000%, which has become the object of many miners’ pursuit.
Up to now, the TOP team has also developed the decentralized wallet HiWallet, invested in Top Blocks to build a professional IPFS mining platform TopIPFS, and is also making inroads into various fields such as DeFi and blockchain games to enrich the TOP ecology as much as possible.
2. How do you see the current PoS mining industry and how will PoS mining develop in the future?
Rudy Lu:
Veteran players in the industry may remember that 2019 is known as the first year of Staking, the year Cosmos and Tezos made staking go viral, so that everyone learned that in addition to PoW mining, there is such a way of PoS mining.
In 2019, many mining pools have entered staking. I remember a new mining pool or service provider was created every few days at the height of the boom. But gradually we found that the market volume of PoS is far from comparable to that of PoW mining. Something like “Is staking making money?” kept appearing. And in the second half of 2019, many players have left, and there are only a handful of service providers in China who are still doing staking.
But after 2020, the situation was very different.
Firstly, the public chains with larger market cap such as Polkadot, Cardano and Eth2 opened staking in 2020, later joined by big players such as Solana, BSC, Dfinity, etc. By now we find that there are actually not many PoW projects left in the top 100 market cap.
Almost all of the new star projects are PoS, and the volume of PoS is rapidly increasing to an unprecedented size, and there is still a very large room for growth, because the new upstarts that represent the hope of the industry are all PoS projects. So PoS mining will be more in full swing in the future, and it will be the mainstream of the industry.
3. Krypto Knight is a node of many other PoS public chains, can you explain what advantages TOP Network has over other public chains? Why did you choose to join TOP Network?
Jackie Fang:
TOP Network has a lot of attractive and unique designs, such as a sharding network, such as a variety of node types including auditing, verification, archiving, beacons, etc. It gives us a glimpse of different PoS design rules and staking play ways. We are very happy to broaden our experience of running nodes in public chains with different design rules, and we hope to bring our experience of running nodes on other public chains to TOP Network.
4. There is news that TOP mainnet mapping will start soon, can you introduce us what kind of changes will happen after TOP mainnet mapping? And what do miners need to do?
Rockey:
First of all, the token traded on the exchanges will be gradually replaced with the native TOP token on the TOP Chain, and ERC20 TOP will be gradually withdrawn from the secondary market. So, please remember to map in time by then.
Second, voters can vote on the TOP Chain. Before the mapping, voters can only vote on the ETH chain which has high cost, long delay and poor experience, TOP Chain will bring a very satisfying experience. The voting on the TOP Chain will be supported on the mobile side first, and the PC side will have to wait a little longer.
Thirdly, after mapping, the function of transaction whitelist will be closed, and anyone can trade freely on the TOP Chain.
5. What kind of layout and planning will InfStones have in the future?
Rudy Lu:
As a veteran player who has focused on staking for more than 3 years, we have witnessed staking go from obscurity to virality, and from overheating to calmness, and now becoming increasingly mature. While holding on for 3 years, we have gradually integrated more than 50 public chains, running with about 10,000 nodes. And in this process, we have gradually formed a set of generalized blockchain infrastructure architecture, which is the only way to manage our nearly 10,000 nodes on more than 50 chains.
We found that this infrastructure is actually in demand on many occasions and by many customers, so our next step will be to focus on doing a good job in blockchain infrastructure services, dedicate to lowering the access and usage threshold of blockchain, and form an easy-to-use and stable infrastructure platform.
We will also further communicate with the TOP Network team to explore the possibility of cooperation and integrate quality public chains with certain ecological scale within the platform for common development.
6. In what ways can Krypto Knight do better than other nodes to promote the TOP Network ecosystem?
Jackie Fang:
Krypto Knight has extensive experience in staking services on many PoS blockchains and has been providing enterprise level services directly to large institutions and companies in the industry who have a deep presence in the industry.
As we join TOP Network, we will also offer TOP Staking services to our clients and will be happy to introduce TOP Network to interested clients. If we make one of our clients go live with TOP or open related services, it will greatly contribute to the TOP community ecology. This is what we are good at, and we have many cases in our experience, and we hope we can reach a good cooperation with TOP Network this time too.
7. What other big moves will TOP make this year? What impact will it have on TOP?
Rockey:
After completing the mainnet mapping, the biggest action for TOP Chain should be to gradually start migrating our eco-applications to the public chain. For example, Dingtone, CoverMe and Proxy, which I mentioned earlier, will be migrated to TOP Chain, and the 100 million global users they have will naturally become TOP ecological users, which is significant for TOP Chain.
In addition, we will also continue to make efforts in many fields such as IPFS, blockchain wallet, blockchain game, DeFi, etc., so that TOP ecology will eventually become an all-inclusive blockchain ecosystem and users will be able to experience all blockchain applications in TOP ecology.
Please join us to witness the landing of TOP Chain’s value ecosystem!
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