Velas x Vozblockchain AMA Transcript
This AMA is implemented on Vietnam’s leading Vozblockchain community on June 15, 2020, at 21:00 pm GMT + 7. Velas founder Alex Alexandrov is a spokesperson from Velas.
AMA format:
Part 1: Team answer the top 4 questions from the Vietnamese community collect from the google form
Part 2: Free Q&A with the community — 10 best questions in this part to distribute the token.
Part 3: 5 quizzes for community
Host:
To start our AMA, We will have a short introduction. The guest will give a brief introduction about the project, position, title, and background.
Alex Alexandrov (Velasfounder)::
Sure I am the found of Coinpayments.net and Velas.com, Have been active in the crypto community since 2011 with my first business in 2012 selling mining supplies for GPU miners with coincable.com
Here with me are AVK our Asian market director and Andrei our CTO
Andrey Stehno:
I am a blockchain/developer. 15 years of experience in development in general.
Host:
Can you briefly introduce your project — What is Velas to community know?
Alex Alexandrov (Velasfounder):
Velas is a Virtual Expanding Learning Autonomous System, its a mixture of traditional blockchain in rust based on open Ethereum and dynamic consensus in order to allow AI optimization of the system, we also providing a way for users to be able to delegate their coins on main nodes and share all new coins minted equally without giving up their private keys, right from the wallet with a click of a button, for those who stake or delegate they own reputation which will allow them to become delegates in Velasphere which is a hardware sharing layer, where users will be able to share their hard drive space in % of available and GPU and CPU power up to 80% unless its a dedicated machine then full 100%,
This will also earn them VLX and build the backbone of our vast computation network after this is deployed Vortex will launch as seen as search in wallets now, it will allow users to upload files, video, images, create p2p direct chats, group chats and video conferences and live streams along with building complete interactive web pages inside VORTEX powered by VELEASHPHERE resources shared
Part 1: Team answer the top 4 questions from the Vietnamese community collect from the google form
Q1-@nhatmv(user)
Staking & Mining is very popular today as incentives, so do #VELAS support any and what are the requirements? Does it need to run a separate node to participate in Staking? For people without technical expertise, how do they get involved in Staking?
Alex Alexandrov (Velasfounder):
Good question, in VELAS we have the easiest staking system for all level of crypt knowledge also safest as you never expose your private keys, we have two methods of staking:
- 1 is to run a full node and support velas blockchain as a validator and synchronize the chain via gossip protocol, for this you need minimum 1,000,000 vlx
- is to delegate stake and in a wallet, you can find a node that's up and running you can see it has good uptime and you join it with minimum 10,000vlx
your private keys never leave your wallet in node you generate a script with mining keys which then can be run on any server and no one can steal your coins only runt he node for you. With delegates you pick node and velas create smart contract adding voting power to the node and give you an equal share of coins earned. Based on % of your contribution just like in mining pools of eth or BTC based on hash power instead, here we go by coins amount staked
Q2-@dragonred23(user).
Does VELAS plan to issue a wallet on smartphones to store coins?
Alex Alexandrov (Velasfounder):
Yes! our mobile wallet is ready we have been finalizing a light version of it now which will launch this week on android and we are awaiting ios approval to launch after. Both are built. These wallets will be an extremely secure layer to hold your coins, not just velas but from the same seed, you can recover and store all your BTC, eth, erc20 tokens, LTC coin usdt Omni , dash, cash, and Monero
well we are so ahead of everyone at the moment it's hard to say we are even keeping up but rather leading the way at this point.
Q3-@hoahong123(user)
What is your long-term vision about the industry which #VLX project is working at? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?
Alex Alexandrov (Velasfounder):
Anyone who knows me will tell you I'm one of the first in leading technologies, was one of the first in Bitcoin in 2011, first in supplying new GPU mining industry, then first altcoin payment processor in the world in 2013 now first artificial intuition blockchain in the world
I think we have a year to show amazing things we are doing before we do something even more insane knowing my team and myself I think the more important question will you be able to keep up lol
I am also invested heavily in Gochip which is a 5 patents chip for animals in order to keep their health stats and medical history which will run on velas. ELA will be added to the Velas wallet when she is ready. imagine wallet that pays your bills trades for you reminds you to buy gifts for your kids and friends and does it for you based on being able to learn
it's like a real personal assistant but one who does not share your data with Apple or google only on its own blockchain and no one can access it
Q4-@ngutungg(user).
If the number of users spikes in the future, will the Velas blockchain platform meet the stability, fast speed, and cheap fees?
Alex Alexandrov (Velasfounder):
Without a doubt, our ai tooling is constantly pulling data from nodes, over time it will begin to suggest real-time changes,
this will allow the chain to optimize its communication over gossip and form more efficient channels between validators in current EPOC, this will give a massive speed boost. We are also rewriting ETH VM machine to be more scalable along with reputation scoring which leads to better machines offered to the ecosystem. the best part we can reach this with a very low cost on tx. vs traditional blockchains which require constant optimizations and updates to code in order to achieve them, which is slow and people don't always agree, having chain make its own decisions and learn is a revolution
Q5-@Tunaun(user)
Is AI can completely remove humans from blockchain? and what is the difference between Artificial Intelligence and Artificial intuition? and How long should we wait until we can then say that @VelasBlockchain AI has learned enough?
Alex Alexandrov (Velasfounder):
We are not fully replacing humans we are letting machines do what they are better at which is a quick response to changing conditions, humans will still use the blockchain to live digital lives in privacy.
Q6-(user)
How did you choose/end up with the name “VELAS”? Where did the idea of the name come from for the coin and why that logo, any particular significance?
Alex Alexandrov (Velasfounder):
Virtual Expanding Autonomous System is VELAS :)
Q7-@bitboyss(user)
What are the advantages that Artificial Intuition brings for Velas as well as its loyal users? The topic of chipization is now very popular, could you tell us a little about the new GoChip project in which you are participating.
Alex Alexandrov (Velasfounder):
With pleasure: Being able to create and tie a pet's identity to a microchip and then link this chip to a smartphone and platform opens up a world of opportunity for both animals, owners, and cities.
You can create an environment where animals are never lost because they are always identifiable via the chip, and you can create infrastructure using blockchain that allows animals to travel across borders seamlessly because their health and ownership and license data are stored and shared using Velas blockchain. Furthermore, using AI we can make sense of data to make responsible pet ownership easier by suggesting the best kind of food or best medical procedures or exercise protocols for pets according to the data which we collect via the app and chip.
Q8-@dothithanhthuy88(user)
Many blockchain projects are on paper only and no product or product has no practical meaning. Please let us know what is VELAS’s currently practical product in use? What are your plans for the product to be better in the future?
Alex Alexandrov (Velasfounder):
We are operating a full mainnet blockchain with dynamic consensus and already have 50 full nodes with 100s of delegates safely building the core of the network and bring stability to it. We are in the stages of training AI model and deploying velasphere in order to allow users to share resources and get paid in vlx for it. You can already see these features in the wallet as a preview now.
Q9-@HeRmAwAnTrAdEr(user)
My question ???? What are your major goals to archive in the next 3–4 years? What are your plans to expand and gain more adoption?
Alex Alexandrov (Velasfounder):
Our goal is to create a solid scalable layer for users and business which they can use to full decentralize their services on.
Q10-@kikirush(user)
How were you able to achieve 30,000 transactions per second without compromising security or decentralization?
Alex Alexandrov (Velasfounder):
The network should have enough resources for this and the AI should know about it. If you send an AI transaction, then it can do the pre-validation and sorting and redirect the transaction flow to the node that will put it into the block the fastest. If at the same time send the transaction is not in AI then it will be confirmed at the usual speed.
AI knows the best safe blockchain speed and how to accelerate this speed by optimizing the validation and distribution
If you send the TX into AI layer then it chooses how to execute if faster if possible
Q11-@Alisonm1(user)
First, I want to thanks the team and congrats all for the project and the efforts made until here on this project. I believe a lot in this project. For me, the best project on the space. So, I’m very glad to join this AMA. My question is:
Which specific about technology and strategy of #VLX that make you believe it will be successful and what does #VLX plan do to attract more users in the upcoming time?
Alex Alexandrov (Velasfounder):
We have a huge community as a result of Coinpayment's success and my long term presence in the crypto industry. Our strategy is to show real products not raise funds but actually build and amaze, which we have done so far and also constantly show updates on progress and not hide in the shadows. People love active projects and you will not find more active one than us right now
https://medium.com/@VelasBlockchain/velas-monthly-ecosystem-report-004-ecbb8773661e
Q12-@RED_BTC_RED(user)
For older animals will the gochip be animal friendly to not hurt my pet in any way or be traced over illegally and not get my pet sick
Alex Alexandrov (Velasfounder)::
Microchips are actually an old technology that has been used in the West for many years so this is something that has proven to be safe for both young and old animals.
We have a partnership in Canada and soon in China to work with two city governments and this will give you the peace of mind that our chips are safe. Also, this makes it impossible for people to steal animals because they can be easily identified and linked to their real owners.
And from a blockchain point of view, when new puppies are born and they are pure breeds…we can put all their lineage on the chip so when people buy the puppies they can ensure that they know as much about the history of the puppies ancestors as possible
Q13-@armahes(user)
A. Is there any tend to burn some tokens of supply in the future to stabilize the price?
B. Do you intend to expand in the Middle East?
C. Will the currency be included in more platforms soon?”
Alex Alexandrov (Velasfounder)::
Token burning is not the way if we keep expanding and growing naturally due to innovation coin supply will not be ever enough, it's like asking if Facebook would burn their shares to stabilize the price
Q14-@copytrader1(user)
Do you have any partnerships with other projects to focus in the near future?
Alex Alexandrov (Velasfounder)::
Yes GoChip, Mind.ai, Velonian, Vortex
Q15-@Harsha_prabath1(user)
What are the highest priorities in the development process of the Velas? What are the plans in terms of marketing and business partnerships in order to create value to the token and increase its current price?
Alex Alexandrov (Velasfounder):
We are going to focus on video streaming service next in order to migrate influencers and their followers to VORTEX, this will give them uncensored video stream and better monetization abilities
Q16-@concatnhingi(user)
Why do you think your idea needs BLOCKCHAIN?
Alex Alexandrov (Velasfounder):
Without blockchain, we are just another google or Facebook or youtube. sooner or later they will be forced to do what's best for shareholders or worse governments in each region spying on you, and delete content they don't agree with,
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