(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
submitted by tkeycoin to Tkeycoin_Official [link] [comments]
Yesterday was the official release of the new flagship product — Tkey Messenger. Messenger is available in the browser and on desktops for the most popular systems Windows, macOS, and Linux. Soon, smartphone owners will be able to try out Tkey Messenger in action, the app will appear in the App Store and Google Play.
In the era of rapid communication and technology development, messengers have become our default products. We use them for business purposes, to communicate with friends and acquaintances — this has long been the norm. It would seem that why are other messengers created when there are many other instant messaging systems?
Today we will talk about what a Tkey Messenger is, what it can do today, what features will be included in it in the future, and most importantly, what we are creating It for and how we will develop it.
TKEY.METhe abbreviated name of Tkey Messenger is tkey.me. First of all, TKEY-ME is a secure messenger with p2p audio and video calls, and in the future, a built-in digital wallet.
“Every day we communicate in messengers. We earn money at work. We make purchases and transfers. We are here to combine these processes in one application and make sending funds as easy as sending a message”
The Tkey Messenger as a new ecosystemDo you think we are here to compete with other messengers? — No, there are a lot of great messengers. We are here to create our ecosystem and the internal market in it. Combine these processes in one application and make sending funds as easy as sending a message.
After all, we work in the field of FINTECH, cryptography, and blockchain, why not apply the best practices and knowledge in practice? Therefore, the TKEY Messenger should be considered for a large ecosystem.
This is a new payment segment that covers fast communication tools in combination with an internal payment system, a set of exchange practices, blockchain, cryptography, our own experience, and the experience of global companies.
How will the Tkey Messenger ecosystem work?https://preview.redd.it/17bml1zpue651.png?width=1400&format=png&auto=webp&s=99ebd70745968452536546fb5a59841e8f3a9c52
Let’s start with the most important thing: money should be sent in a matter of seconds, regardless of the country of issue of the Bankcard and wherever you are.
Here is a simple example:You or your relatives live abroad and you want to send funds quickly, for example, 2600 USD — you just open a chat with your loved one, send a message and 2600 USD in the same second become available on your loved one’s account.
It turns out that you can exchange Tkeycoin for USD, EUR, or GBP in a matter of seconds, as well as instantly send them to any place in the world and without hidden fees, the exchange amount is immediately available on the screen.
Or you have Bitcoin, and the Recipient needs dollars — Tkey Messenger will take care of all the complex tasks, you will only need to send a message to make the payment.
Each completed payment will be processed through a digital payment system without Bank intervention. You can link your Bank card to automatically withdraw digital funds to your local currency.
Do you want to simplify payments even more?Order a TKEY card, and it will automatically be linked to your Tkey Messenger account. Make payments online, make purchases in stores — it’s just as easy as you did before, only much more convenient, faster, and safer.
The most important thing is that you can easily use digital assets in combination with Fiat currencies — just top up your account in messenger to start sending currency around the world.
“Moving money around the world should be as easy and cheap as sending a message. It doesn’t matter where you live, what you do, or how much you earn.”
Send TKEY or Bitcoin via message, has it become a reality?In Tkey Messenger, you will be able to quickly send digital currency using a message. You can not specify a public address, but send a digital currency using a message.
Instantly send funds to friends or relatives anywhere in the world. No Bank, no problems, no hidden fees.
Top up your mobile phone or pay for the Internet?The usual payments, such as the Internet or mobile payments, will certainly be available, because if we can transfer pounds from England to Canada in a matter of seconds, and the recipient will receive dollars, why can’t we make a payment for the Internet? “Of course you can.
Transfer funds by a nicknameYou don’t need to know the recipient’s account, just send funds by their nickname to the Tkey Messenger, and the funds will arrive within a few seconds. Fast, convenient, and safe.
New business opportunities
Flexible solutions for e-Commerce.Business accounts, ready-made payment modules on Your site, and more.
Special groups and pagesCreate personalized business groups, fill your pages with products, promote your services, or online training using online broadcasts.
Verified stores and business accountsAny business will be able to import their services and products. TKEY DMCC is developing an intelligent system of business reviews and verification to eliminate fraud and fake reviews.
Smart paymentSecure payment using a button or QR code, without the usual Bankcard input.
What do we get in the future when using a Tkey Messenger?We get an ideal payment system with instant transactions, fast access to various currencies, including digital, instant international payments, a huge platform for business, a marketplace with trusted sellers, secure transactions, while fast communication, p2p calls, and video communication. Not to mention various chips, in the format: cashback, savings account, invest. products, etc.
How is this possible, you say?More than real, we will answer. At the very beginning of the project, we planned to create a marketplace, and then finalized the concept with NFC payments in TkeyPay. Smoothly, all this develops into a single system, which will be merged into a Tkey Messenger.
The Tkey Messenger is convenient and secure, payment system, and marketplace. The entire financial industry is in your hands-in your smartphone.
The mobile Finance industry is developing rapidly against the backdrop of a growing number of Internet users and the increasing role of smartphones in modern life. Today, the mobile device market attracts about 2 billion people, who remain passive players in financial markets.With the Tkey Messenger access, you always get access to instant Finance, shopping, and the nice things you want to get here and now. In practice, it has turned out that we can often forget the keys to the apartment, rather than the phone, so your finances will always be with you.
Join the global Tkey Messenger system right nowRelease 1.0.0 is available in the web version and for Windows, macOS, and Linux operating systems, and shortly on your mobile devices.
Current functionality of Tkey Messenger 1.0.0The Tkey Messenger version 1.0.0 is the core that opens up new features that we discussed above, payments, and more. Now it is a convenient and stylish messenger with an intuitive design, instant messaging, and secure audio and video communication.
The P2P audio and video calls in a Tkey MessengerWhen creating the first version, we focused on high-quality video and audio communication. Now you can easily call by video and be sure that you will get a high-quality video stream, as well as the absence of restrictions from third parties because the connection is carried out on the principle of p2p.
Audio and video calls are made in p2p mode, so there is no recording of calls at all.https://preview.redd.it/lyrnkfhgxe651.png?width=1384&format=png&auto=webp&s=fb0c93ca45fa6bd4f65c77f64c81b88b906e904a
You can chat with friends and colleagues around the world for free, and excellent audio and video quality will only positively affect the quality of your conversation.
Calls in the web versionThe web version of Tkey Messenger is available at → http://web.tkey.me/. The web version has full call functionality, so you can easily call through it, both via video and audio.
Video calls are available with the “Share” function, you can easily “share” your screen for the interlocutor and show what is happening on it. This function can be used for presentations or training events.
Screen Sharing is a demonstration and broadcast of the screen. “Share” your screen for the interlocutor and show what is happening on it.https://preview.redd.it/x5h6au9ixe651.png?width=459&format=png&auto=webp&s=9b71b9148b17b55636c5615cbf7d6535cc78aa56
Group video and audio calls for up to 50 peopleIn the web version, you can launch a group video call. In the chat, tap the “handset” icon — the call will be sent to all participants in the chat, so all participants in the group chat can hold a video conference of up to 50 people. The user can turn on the camera and not turn it on, but simply participate in a video conference via audio.
On average, messengers that support the function of video calls in high quality, hold a video stream of no more than 8–10 people. In a Tkey Messenger, group conferences support up to 50 people. Soon-public online broadcasts and streams.On the call page, you can conveniently distribute the Windows of the connected video stream.
Unlimited private group chatsThe first version only supports private chats and group chats. Group chats are also completely private, so there is no “Share” function, only the chat participant can invite another participant to the group chat.
Create your thematic chats. Work. Family. Friends. Be the first while we develop. Soon-public channels and chats.Anyone can start an audio or video call, and the notification goes through all participants. Switching to audio or video mode can be switched right at the moment of the call.
As we have already mentioned, group chats are completely private. You can make video and audio calls, send messages, and invite other participants.
To invite a new chat participant, any user can invite another user to a group chat. To do this, click on the “three points” menu icon.
Next, enter the nickname of the participant you want to invite to the group chat in the search.
Deleting information in group chatsEach participant, when they click the “Exit and delete” button, deletes messages and information from the chat on their side.
In group chats, all information is deleted by the last person to leave the group chat. After deleting-all messages, media, photos, and other data that were in this chat are automatically deleted. If all participants leave the group chat, it will be automatically deleted, and all information published in the group chat will also be deleted.
The chat between the two partiesThis is a classic private chat between two participants, instant messaging, sending media.
The rights of the participants are equal. Any chat participant can delete the entire chat. after deleting all messages, media, photos, and other data that was in this chat, it is automatically deleted.
Installation processOur developers do everything to make Tkeycoin products as clear and convenient as possible for our users, so the process of using Tkey Messenger is very simple. If you want to install TKEY-ME on your laptop or computer, just download the installer from the official website and enjoy it.
Tkey Messenger is available in the Linux app store — https://snapcraft.io/tkey-me and is available on all popular Linux distributions: Ubuntu, Debian, Arch Linux, CentOS, Fedora, KDE Neon, Kubuntu, Manjaro, Linux Mint, openSUSE, Red Hat Enterprise Linux, elementary OS.https://web.tkey.me/.
The Tkey Messenger also has a new section in the Tkeycoin Knowledge Base, where you can get answers to frequently asked questions and installation instructions: https://help.tkeycoin.com/collection/10-tkey-messenger.
In addition to the payment system that we have described in detail, we certainly do not forget about the functions of the messenger itself. The Tkey Messenger will be transformed with each update, adding the already familiar features for many:
To sum up, a Tkey Messenger today — concise design, color schemes, messaging and photos, group chats without restrictions, audio and video calls, multilingual version, group conferences for up to 50 people, peer-to-peer connections for calls and messages, push notifications, statuses, adaptation for all popular platforms — iOS, Android, Web, Windows, Linux, macOS.
The Tkey Messenger is a powerful payment system in your mobile. If you are interested in this, then we are on our way — join us https://tkey.me/.
“No more remembering unique passwords for separate sites. No more creating unique email addresses for different services. No more having to worry about the site you are interacting with having your data stolen from them. Pure, self-sovereign control of your accounts across the Internet. No usernames, passwords, or identifying information other than the public key that is derived upon sign up.”There are more solutions that I discovered:
The basic idea is that each wallet has a seed, which is a random value (you may think of the BIP39 seed words, for example). Usually from that seed different keys are derived, each of these yielding a Bitcoin address, and also from that same seed may come the keys used to generate and manage Lightning channels. What lnurl-auth does is to generate a new key from that seed, and from that a new key for each service (identified by its domain) you try to authenticate with.So, from the seed of your wallet will be generated different keys for your different websites you access, so nobody will now you are the same person using all of this services.
submitted by Smart_Smell to Robopay [link] [comments]
Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?
The development of the digital renminbi is proceeding rapidly: a few days ago it became known that companies and customers of the largest banks in several cities of China were testing it. Moreover, corporations such as McDonald’s and Starbucks will take part in the test, among others. + Why is China in a hurry to release a national cryptocurrency, at what stage is development and why its main opponent is not Bitcoin or Libra from Facebook, but the US dollar, DeCenter found out.
For a long time, almost nothing was known about China’s national digital currency (DCEP), or the digital renminbi, except that the Chinese authorities were working on it. Information was officially confirmed only in 2018. Moreover, it turned out that research and development has been ongoing since 2014. And in the summer of 2019, the deputy head of the department of the National Bank of China (NBK) Mu Changchun, who is called the main ideologist of the digital renminbi project in power, said that he was “almost ready.” This was preceded by the sensational announcement of the cryptocurrency project Libra from Facebook, which officials in many countries took with hostility.
As DeCenter wrote, cryptocurrencies have pushed the Chinese authorities to create DCEP by the growing competition with fiat currencies. Despite the formal ban on cryptocurrency exchanges and ICOs, Chinese people are still actively using crypto assets. The digital yuan could be an alternative to decentralized coins. In addition, the main capacities of world mining of the Bitcoin network are concentrated in China, the blockchain startup industry is developing rapidly and with government support. Such a contradictory and motley picture.
According to the professor of Fudan University, Michael Song, the real impetus for accelerating the development of the digital renminbi was not so much the Libra coin, but the keynote address by President Xi Jinping in October 2019. Then he called on officials to “make every effort” to develop the blockchain and introduce solutions based on it into the real economy. At the same time, Xi noted the importance of implementing technology in digital finance. According to Song, this was a signal for central authorities to accelerate the release of DCEP and facilitate its distribution in China and beyond.
Mobile App First
But the real details about the digital yuan became known recently, in April. Then, WeChat published screenshots from the test mobile application of the Agricultural Bank of China (SBC) for operations with DCEP. Some of the application’s functions were visible on the screenshots: wallet, function of payment via QR-code (a popular payment method in China), receiving and sending money, as well as “pairing” wallets of two users for transactions through convergence of devices (probably using NFC-technology)
Mobile app interface for the RMB.
Later, the NBK confirmed the authenticity of the screenshots and added that the digital renminbi is being tested in cooperation with several commercial banks, and its territory is limited to four major cities. As The Block later clarified with reference to Chinese media, in one of the cities — Suzhou — municipal officials in May will receive half of the subsidies for travel on public transport in “digital yuan”.
The authorities did not disclose the official launch date for DCEP, but added that the next test of the digital national currency will be held in 2022, during the Beijing Winter Olympics. Probably, then the scale of the test will be much larger and will also affect foreign citizens.
It is curious that on the same day, the State Committee for Development and Reforms of the PRC — the former Gosplan, now in charge of strategic economic planning, announced the inclusion of blockchain in the national technology development strategy. Now it is a priority for the state along with other promising areas, such as artificial intelligence, cloud computing and the Internet of things.
Commerce and trading in the digital yuan
The NBK is not limited to banks and individual users of the digital yuan: thanks to a report from the Chinese publication InterChain Pulse, another test was revealed, but with the participation of almost two dozen companies. The project will be held on the territory of the New Xun’an District (something like a special economic zone, but an urban type).
The project includes companies in the field of catering, retail, transport and entertainment. The list also includes American companies McDonald’s, Starbucks and Subway, as well as a number of local chains: fast food Qingfeng Baozi, supermarkets JD (operated by the leading online retailer of the same name in China), Jinfeng cafe and others. Four state-owned banks provide financial infrastructure, as well as fintech giants Ant Financial (formerly Alipay) and Tencent. Administrative support is provided by local governments.
Xun’an — a kind of testing ground for the “digital city”. All government services have already been digitized here, 5G mobile networks, unmanned vehicles and much more are used. At the end of March, a blockchain laboratory was opened in the city, which will be engaged in the implementation of DLT-based solutions in urban infrastructure and services.
At the same time, InterChain Pulse did not provide data on the date of the start of the digital renminbi experiment in Xiongang or the timing of its implementation.
Ram against the dollar
Given that the digital yuan is a project of the Chinese authorities, it is not surprising that, in addition to domestic economic interests, they also pursue political goals. Namely, the victory over the global “hegemony” of the US dollar. So, the DCEP developer Mu Changchun in September last year said that “the digital yuan is necessary for China to protect the monetary sovereignty of the country”.
The Ledger Insights portal cites an article by the Chinese political science center Zero One Think Tank, which states that the digital yuan will help “internationalize” the Chinese currency. In particular, through transactions in large-scale foreign economic projects of the PRC. Among them is the One Belt, One Road initiative, which brings together many of China’s neighbors as part of the Silk Road Economic Belt and the 21st Century Sea Silk Projects. High scalability of DCEP will solve the problem of increasing the share of settlements in RMB in foreign trade. So far, China has failed.
State-owned Chinese companies already have the infrastructure needed for cross-border operations in the digital yuan. For example, last fall, the Chinese Construction Bank (the third largest in China) released the second version of its financial blockchain platform for international settlements after the volume of operations on it exceeded $ 50 billion. The platform users are mainly foreign banks and Chinese exporters.
All four major Chinese state banks, which recently announced their participation in the project for the commercial testing of the “digital yuan” in Xiongang, have their own foreign trading platforms based on a distributed registry.
The U.S. currency really dominates global finance: in 2019, 90% of international transfers and 60% of government reserves were in US dollars, while the yuan in both segments accounted for only 2%. Such data are quoted by Voice of America.
The dollar is needed by private companies and banks to hedge the risks of depreciation of national currencies in international transactions. However, the widespread use of the dollar also gives the US government leverage — for example, with the introduction of economic sanctions.
The emergence of alternative international currencies could undermine US influence. In a commentary on Voice of America, Special Assistant to the President Tim Morrison expressed confidence that Beijing’s intention to “dominate this new financial technology should be alarming”, referring to cryptocurrencies.
Apparently, while the US authorities do not plan to issue their own digital dollar.
In late February, speaking in the Senate, US Treasury Secretary Stephen Mnuchin said that Washington does not intend to issue a national cryptocurrency at this time, but may return to this issue in the future.
The day before Mnuchin’s statement, Jerome Powell, the head of the US Federal Reserve System, spoke in the House of Representatives. Congressmen called on him and colleagues in the government’s financial bloc to step up work on the digital dollar until they got ahead of the Chinese. To this Powell replied that the conditions in the USA and China are different: “For example, the idea of a registry where everyone will see each other’s transactions is unlikely to be attractive in the context of the United States. This is not a problem for China.”
As for Libra, last year’s announcement of which was accompanied by mass criticism of Western officials, on April 20 an updated version of the white paper project was released. In the new document, the developers officially abandoned the concept of a single global stablecoin, decentralization and anonymity and pledged to comply with all regulatory requirements.
I have a question. Who doesn't like free software? Yes, really free software that anyone can use for life, as in free beer.submitted by AlanMyThoughts to u/AlanMyThoughts [link] [comments]
Nowadays, there are countless numbers of software on the web that can be downloaded and use immediately without paying a single dime. Also, since many of them are open-source, the source codes can be obtained through sites such as GitHub for free.
But, have you ever wondered how software developers make money out of it? Well, the truth is, not all of them are being monetized, especially for the open-source software.
If you think open-source software cannot be monetized and assumed that it's always free, think again. Because here are the ways that open-source software can be monetized, which I explained below.
1. Opt for restrictive licensinghttps://preview.redd.it/jk9do88cnyw41.png?width=1200&format=png&auto=webp&s=8856d003c4ccdcd392cbc9484d2ad3a2442b7cfe
Compared to the public domain and permissive licenses which do not help much when it comes to setting the restrictions, a restrictive license allows the developer to put many restrictions at the same time.
In other words, if individuals or businesses want to use your software without restrictions, they need to request a new copy of the software from the developer himself or herself.
One of the examples of a commonly used restrictive license is the General Public License or GPL. It allows the software to be utilized, modified, and redistributed freely by anybody.
However, the GPL license has its disadvantages, and one of them is that there are way too many limits on what you can do with your own software. Plus, the terms are more stringent in the GPL license also.
Image by Gerd Altmann from PixabayBy allowing donations for your open-source software, it enables to present appreciation from your users and that they are supporting your software development as well as future updates and the inclusion of new features if any.
However, it depends on how many users utilize your software. If your software hasn't gained traction yet or not many people are using it, it's harder to ask to make the donation. On the other hand, if your user base is large, then it is appropriate to ask for a donation for your software.
You can use platforms like Patreon or Donorbox to streamline the process of receiving the donations. If cryptocurrency is your jam, you can also accept cryptocurrency payments like Bitcoin by creating a Bitcoin address from scratch and share the address or QR code to the public. You can read more here.
3. Offer paid add-ons or professional serviceshttps://preview.redd.it/a2pkltaenyw41.jpg?width=1200&format=pjpg&auto=webp&s=22c75e4c2f470c632aabff4bfbddbc5d49feff0f
Image by William Iven from PixabayHere's how it works. You still offer your software for free, but you charge on additional services and other custom add-ons.
The services may include assisting in installing the software, integrating your software into a particular product or service, and extensions and plugins.
Take WordPress as an example. It is being used by two platforms, which are WordPress.org and WordPress.com.
WordPress.org is a free open source website publishing platform which is created by the community and is operated by the WordPress Foundation. Anyone can download the software free of charge, and then install and run it in a web host or local host on the PC.
Meanwhile, WordPress.com is the hosted version of the open-source WordPress software. A separate company called Automattic owns it, and similar to Squarespace and Wix, it lets anyone who lacks the technical knowledge to set up a website or a blog from scratch to sign up and start using it immediately.
Here is the difference. Anyone can download the WordPress software from WordPress.org, and install and run the instance on a web host or even local host in your PC without the Internet connection. At the same time, you are free to do the customization and also install plugins and themes as you please. You are in complete control of managing your own website.
On the other hand, WordPress.com comes with four plans, which are: free, personal, premium, and business.
The free plan has many limitations, such as using wordpress.com subdomain, limited storage, and inability to monetize the website. Such restrictions can be removed by purchasing any of the three premium plans.
The company that manages WordPress.com also offers plugins that are directly being used for WordPress.org installations. Examples are Jetpack, WooCommerce, Akismet, and Crowdsignal. Although most of the plugins are free to use, users need to pay to access additional features in them.
To concludeJust because a software is labeled as open-source does not precisely indicate that it is not allowed to be monetized in any way.
A software developer has the right to monetize their own software as long it follows the licensing rules, depending on which license they opt for.
This article was originally published at Alan My Thoughts.
https://preview.redd.it/hml53mmh5er41.png?width=568&format=png&auto=webp&s=3f0cd662e1836bcb2ea37793cbbbfd6f8a5e9723submitted by Floris-Jan to aelfofficial [link] [comments]
It’s always great to hang out in this group. This group means a lot to the Aelf community. It is the first Aelf community and has been there through all the ups and downs in the world. I would like to start with wishing everyone is staying safe at home during the virus outbreak. It definitely has been a difficult time for all of us, but together we can pull through it.
We understand that the situation is quite striking to all of us. But I really believe that the solution to the virus outbreak is about more global coordination and collaboration.
All of you to be assured, our team in different places are all safe and working from home as normal.
The Aelf team in Beijing were among the early ones experiencing the virus outbreak. As everyone was on the way home for Lunar New Year holiday and then experienced a total city lock-down followed by a 40 days’ work from home policy. It was definitely not easy for them, but our team stayed strong, took necessary precautions and focused on work with the right morale. Mappo has recently published some tips on how to work from home effectively based on our experience. Do check it out. Despite not working in the office since February, we have achieved great progress, including launching Aelf 1.0 preview, which is an important milestone in technical delivery and also the roadmap to mainnet launch (which listed out the essential steps for the community to work together to launch a successful public network)
Let's first talk about Aelf v1.0 preview. It is the cornerstone of the mainnet launch. The product itself has all the features that the public network is needed. The codebase has been reviewed and tested rigorously by the team. And a few highlights of how the network would look like:
So how are we going to help the community launch the network:
First of all, we have launched the codes, documents about the economic system and governance model and technical features. With all the things available, you are able to understand what the system is about, as a token holder what's your benefit in the system, and being a node in the system plays a big role in the governance
Next, without yet electing the nodes, we will get all token holders to join the current Aelf network through a mapping event. That means as long as you have Aelf tokens, you will be able to get 1:1 test tokens on the public testnet. that gives you full access to all the features, and you will feel like you are already using the mainnet. You will get rewarded in making transactions, voting, etc.
Do try out the Aelf wallet and voting features, you will see how easy to transfer tokens cross-chain. and also how flexible the system allows people to make changes. For example, the community may want to adjust the block rewarding parameters or fees to use certain services on mainnet, they can initiate a discussion and then vote in the system and once voted through, it will be reflected on mainnet.
For people or organizations that want to play a bigger role in the system, we will do a dry run of node election. Take it as the real node election before mainnet launch. We will see who the active members of the community are and being trusted by the community. Among the nodes, we will form a network launch committee. The committee will be the crucial party to oversees and ensures the smooth launch of Aelf mainnet, instead of just relying on the Aelf team. This is our step towards decentralization.
The committee will agree on the actual launch process, final checking all the parameters in the system to be ready for launch and then decide when the criteria are met to launch the network. Once all that is decided. We will invite all interested nodes to apply for the election and let the community know what's their plan to grow the Aelf network. the network will initially be launched with a few nodes from the committee and gradually be replaced by the selected nodes (a bootstrap phase). Along the way, we will work with exchanges to conduct token swap (which we are also designing an innovative system to further enhance security and usability of Aelf tokens in exchanges)
Among this isolated and worrisome time, at least we all have something to look forward to: a successful launch of Aelf network! Once it is launched, we are excited to see a vibrant and technically superior network that is good for Dapps to run on top of it.
Doris Guo Q1: As a Blockchain start-up, what difficulties have you overcome when starting Aelf project? What motivates you to solve difficulties and achieve success today?
Zhuling Chen First, just like launching any start-up, its community and investors are usually regional. There is always some bias on if Asian projects are solid. It is really rare to have an Asian project to be supported by western funds and community from day 1. We were lucky to have overcome that obstacle. Having a global investor line-up from day 1. Having a global team from day 1 and also working with a global community from day 1. This benefited us to have an international perspective which is crucial in the blockchain industry.
Secondly, as a hardcore technology company, it is really hard to put in plain words what is our ambition. Our ambition is huge, achieving key innovations in multiple fronts of blockchain technology and organically combined them to serve real users for the future. Our marketing team has been working really hard to elaborate on what Aelf is. Now we have come to a point that the product is ready. Therefore, it is much easier for all of us to understand how solid Aelf is by trying out the network ourselves! That's exactly what the following events will be about - Try out all the exciting features of Aelf network before mainnet launch.
Doris Guo Q2: What critical problems do you see occurring in the blockchain industry nowadays? How does Aelf solve these problems?
Haobo Ma First, we need to distinguish the difference between BTC and ETH. One is Digital Cash and the other is the Smart Contract Platform. Aelf addresses most of the latter's problems. In short, it can be summarized as performance, end-user friendly, developer-friendly, network economy, and self-governance and upgrading. Each of these areas will probably take up a lot of space, and as a whole are the issues described in our two white papers. In short, Aelf is faster, end-users do not need to know the rules of the blockchain, developers can set up the development environment in 10 minutes, have a good economic model and can carry out proposal governance on the chain.
Doris Guo Q3: What is your long-term vision about the industry which Aelf is working at? Are you afraid someday there will be another project with more innovative technology can replace Aelf?
Haobo Ma Let's talk about where Aelf stands in the traditional Internet. It is essentially a cloud service provider, Aelf provides resources and infrastructure for developers to deploy their services, known as smart contracts. We eventually want Aelf to grow like AAA (Amazon, Azure, AliCloud). Because Aelf is a network that can be dynamically scaled, we can accept any new technology, some of the more advanced technologies we can put on a side chain.
Doris Guo Q4: Why did Aelf choose for cross-chain interaction?
Haobo Ma As I mentioned earlier, Aelf solves the Smart Contract Platform problem. However, there are other digital cash problems as well which we would need to use existing infrastructure such as Bitcoin's chain in order to interact with Bitcoin. There are a lot of infrastructures on Ethereum that we want to interact with. Multi-chain on Aelf network mainly is to isolate resources to improve network performance and network stability.
Doris Guo Q5: What difficulties do the Aelf team have now (I talk about COVID-19)? How does the Aelf team solve it? Have you changed the roadmap?
Haobo Ma There is no great impact. The teams in Singapore and Beijing are communicating with each other remotely on a regular basis. The only change is that most of us are now working from home which has no impact and in fact, it seems conducive to the acceptance of more community developers in the future to come. From the internal working schedule and development timeline, there is no great impact. We do not publish specific timeline as we do not want short term holders (traders) to create too much negative pressure on product development.
Doris Guo Q6: Aelf is an open-source blockchain, and there's the common problem of taking a substantial amount of time for the different participants to agree on strategic decisions. What types of governance models do you use in Aelf to address this issue???
Haobo Ma The issue is about public blockchain network, and who can decide the direction of the network. Our answer is long-term holders. For the short-term holders (traders), we refuse to allow them to participate in any discussion of the direction of Aelf because the short-term holders are likely to make a profit and sell quickly, which is essentially the same example of a person who cheats the President and then runs away for his personal gain. We defined a number of proposal processes, including the logic of the two-party system in the United States, and the participation in the referendum to ensure that the final proposal represents the majority. At the same time, we are looking for some legal solutions to avoid bifurcation, such as prohibiting exchanges from intervening in bifurcated new tokens. While we cannot limit a community, we should be able to find ways to limit a centralized organization. This restriction is akin to a ban on national secession.
Doris Guo Q7: How will Aelf empower Investors, Companies, Developers, Platform Users to deliver impactful solutions and bring value to people all over the world?
Haobo Ma We will learn from the operational experience of successful foundations such as the LINUX foundation and license some commercial companies to use Aelf solutions to solve business problems. At the same time, Aelf is an open-source product under the MIT License, and we accept any use that does not violate this open-source principle.
Zhuling Chen Let me add on to Haobo’s statement: to incentivize and empower the community, we are also exploring ways to let the community decide how to use the funds for Aelf (allocate to where it matters to our community) once mainnet is launched. This means you guys can decide what are the projects to be funded on Aelf, etc
Doris Guo Q8：When will the node campaign start? How will Aelf attract users to participate in nodes election?
Haobo Ma According to our published roadmap, the timeline can be dynamic, but I don't think it will be too long. The main idea is to let everyone understand what we envision Aelf to be like, and what are the rights and benefits of being a node in the future. We hope to find nodes that fully recognize the efforts of Aelf at the present stage and are willing to participate in the future development of Aelf. We will run a simulation of the node campaign on the testnet and set up a temporary mainnet launch committee. Please follow our official Twitter for more upcoming details!
Doris Guo Q9: Token swap form 2 is some kind of cross-chain transfer? It will be handled by a smart contract?
Haobo Ma It is handled by the smart contract, we define an asset cross-chain transfer protocol, but it may be opened after a snapshot.
Doris Guo Q10: Which Exchanges will support token swap? Do you have any plan to list Aelf in some big exchange like Binance, Houbi, Kucoin, .......?
Haobo Ma We are already in talks with some exchanges, there is still competition between exchanges, and many are still hoping to attract more users by getting access to mainnet token swap early.
Doris Guo Q11: Aside conversion of the current tokens to mainnet tokens, what other main features will be accomplished with the mainnet launch?
Haobo Ma We have a documentation file that has been published, which has listed some features: https://Aelf.io/gridcn/Aelf_public_testnet_and_supporting_features_introduction_en_v1.0.pdf
Doris Guo Q12: Do you have any plan to burn or buyback your coin?
Haobo Ma We have plans for the community to govern through DAO, we have no interest in short-term price incentive adjustment as we would prefer to drive the project to higher adoption. After mainnet starts operation, there will be a part of network revenue get destroyed automatically.
Doris Guo Q13: Often, as a newbie developer, I face difficulties on most blockchains. How easy and convenient is it for me on Aelf, and what programming language and tools are needed??
Haobo Ma We set up staging for DAPP developers on GitHub and configured CI. Develop a smart contract using C# with React Native on the front end. So, in fact, developers can fork the source code without setting up the environment locally, and you can conduct unit testing with the help of CI. You can also release the smart contract and generate the installation package of iOS and android online. https://github.com/AElfProject/Aelf-boilerplate
Doris Guo Q14: What is the progress of business development and what are some of your commercial partnerships? How will Aelf rapidly develop the number & performance of DAPP?
Haobo Ma First of all, the blockchain industry is still fairly small and users with ETH and EOS wallets are considered a very small group and its not effective to even promote within these groups. What we need to consider is how to enable users who have never been exposed to blockchain to use DAPP. The competitiveness of Aelf is to make it easier for Aelf developers to promote their DAPP to ordinary users, rather than to teach ordinary users a lot on blockchain knowledge. The average user doesn't like to hear about private keys, mnemonic, Gas Price, RAM, CPU, etc. Only until we solve such problems, companies that need to solve problems through blockchain will be more inclined to use Aelf in technology selection. Therefore, our main work is to explain the competitive advantages of Aelf, ETH and EOS to everyone. We have some business cooperation’s, but we also believe that simply through case-by-case business cooperation will not be able to gain adoption so quickly, therefore we still need to put our products to stay ahead of the next generation.
Doris Guo Q15: What other activities can encourage more people to be confident about Aelf?
Haobo Ma We are only going to state the truth by having those that have faith in us to stay and those that don't to leave. The development of Aelf is not driven by a single foundation, but by a steady stream of contributions from the community. In the future, we will also place the activities in the DAO for on-chain governance, and let the community make decisions by itself.
Kun Aguero As you know that in the present market situation many new coins or either dying or thriving for liquidity? How will you manage this liquidity problem?
Zhuling Chen Aelf started in 2017. we have gone through a few cycles in the market, still, remember the big down period in 2018-2019. Aelf is financially solid and the team has always been working hard. if you are referring to liquidity in exchanges, we are among the lucky ones that are listed in all major exchanges
Xinshu Dong Hello, great discussions! I would like to ask what are the criteria to join the committee for launching the mainnet? Would love to participate
Zhuling Chen Hi xinshu, great to see you here. The committee will be chosen among the nodes elected during the testnet dry run. Which means, it is really important to participate in the testnet dry run and also start to establish your reputation in the community so that people will elect you as a node. The detailed criteria will include what is your plan to help Aelf to grow, tech competency and reputation.
An Da What are Aelf’s achievements in 2019? Who had supported you to get those things?
Zhuling Chen To name a few, in 2019, Aelf is one of the most active projects on GitHub. This means Aelf is evolving and improving fast in this space and our team has the tech strength. In addition, we have also successfully listed on all major cloud service providers, such as AWS, Azure, Google. So large companies can easily launch Aelf side chains in their organization with minimum hassle.
John How does the voting for master nodes candidates occur? And why is the development of this system important for your project?
Zhuling Chen Voting is going to be pretty simple. All token holders can vote for the nodes they support on our block explorer.
Miha After mainnet lunch, how will you assure that transactional fees will stay low? We know what sometimes happens to fees on ETH blockchain.
Zhuling Chen First of all, due to the fact that is Aelf is scalability, this will reduce transaction fee. Secondly, all transaction fees will be voted by the nodes (which will be elected by you). So they will represent your interest
Bobbyfernandito Currently, as we see All projects are concerned with the speed and security. So, tell us here - what are the facilities Aelf provide to their user and investors?
Haobo Ma Security: we have an automated smart contract code audit. During contract deployment, production nodes and the community audit participation are required. On the other hand, we are also planning to provide a standardized model of centralized exchange access for 100% asset certification and emergency measures to deal with exchange attacks, which we will be released later. Speed: Aelf has been working on improving performance, which is transparent to users which they can also experience by themselves.
An Da What effect does Aelf token have on the Aelf ecosystem? Holding Aelf, what benefits will users receive?
Zhuling Chen Holding ELF enables you to use all the services on the Aelf network. ELF has a deflating system where the total amount will reduce as the network grows. token holders can also vote for the nodes to run the network and also vote for big decisions in the network. part of the fees in the system will also be distributed to token holders via a smart contract
ahihi132 Which companies do you view them as potential partners and that they are somewhat also beneficial for both the user base and Aelf itself?
Zhuling Chen Great question, if I could write a wish list, that will be: let medium-sized financial institutions to use Aelf to challenge the big boys. Let telecommunication companies use Aelf for micro-payment and other innovative business models. We also would like to try out a few public sector projects, which blockchain will is still more transparency and trust
Misun Q1: Which programming languages are you using in your project? And why? Q2-What are another big MILESTONES you have planned for 2020 roadmap and how are they supposed to benefit your costumers? Will it be an exciting year?
Haobo Ma For Q1: We mainly use C# for development, I personally like it. Performance is good, development environment IDEs are strong, and C# creators are influential in the industry. We believe in the right thing, though it may take a while to develop. The smart contract will then add support for multiple languages, such as WebAssembly, depending on the needs of the community. Now it seems that C# is enough.
Hambi crypto Which platforms are your competitors? How will you soar above them, and what better things do you offer than them? So, What’s your outlook on the future of cryptocurrencies in this year and next few years?
Haobo Ma As I have already mentioned this before, Eth and Eos. We provide better performance, cross-chain support (already implemented), end-users do not need to know the details of the blockchain, developer’s payment models and so on.
Floris-Jan What plans is Aelf making to prevent centralized exchange to take over the DPoS algorithm like what happened to Steem? Are we talking about blacklisting exchange wallets, or having the foundation say "No", or putting all trust in the community?
Zhuling Chen Great question, Floris. I’m not going to give away all the details of what Haobo has proposed to work on this, but in a nutshell, in Aelf system, exchange wallets will not be allowed to vote, but only the sub-wallets for each individual can vote. This will also help exchanges to prevent hacking and theft in the future
Alex What your plans in place for global expansion, are Aelf wallet focusing on the only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
Haobo Ma Our core focus will be through the developers to promote, developers will help Aelf to attract more users. So our product has to be attractive to developers. Just like AWS, they only focus on getting their service right, their developers will think about how to promote it. We don't want to burden them in their promotion process.
Ellkay What do you think are the major threats and barriers that could face the development and adoption of Aelf?
Haobo Ma If I'm a DAPP developer and I need to promote my APP to people who don't recognize blockchain, then I'd like to choose a platform that doesn't have to explain a lot of blockchain details to the end-user, so they can use it easily. We've provided some options in the Boilerplate that allow you to log-in simply via QR code + Password, and our recommended Dapp is an independent wallet and a separate iOS/Android application.
ahihi132 Give me some important reasons why we need to hold Aelf token where in fact hundreds of projects failed and it went to bankruptcy or even developers run when they collect millions/billions of funds?
Haobo Ma First of all, we will not give any suggestions as we only describe the fact that the long-term token holder will be able to govern the Aelf network, get Aelf mining reward and Aelf network profit. At the same time, Aelf network is a deflation model, Aelf network received transaction fees, profit dividends will immediately destroy 10% etc. All investments are risky, and we don't judge the behaviour of other developers. There are so many things in this world that cannot be understood and unfair. It is important to do our job well. I cannot explain these things.
胖 见愁 I remember that boss Ma mentioned to only find those truly innovative applications and enterprises with blockchain, how to find and win partners in these aspects?
Haobo Ma When Linus was developing Linux, I did not think he would find a lot of collaboration when the code was not good. The response we can give is that we already have a lot of interest in cooperation, including what we have announced, what we have not announced, etc.
胖 见愁 How interested are cloud computing providers in participating nodes?
Haobo Ma The vast majority of our nodes should be using cloud services, and as long as a large number of our 17 nodes and other candidate nodes are based on cloud services, our network robustness is determined by these cloud computing providers. Of course, in the expansion, we can also use cloud computing services.
pip3 install -r requirements.txt python3 bip39\_gui.py
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