Indian Banks Consider Promoting Blockchain Tech Use for Payments

The National Payments Corporation of India (NPCI) is considering implementing blockchain technology to increase the strength of digital transactions, Indian business magazine Business Today reports on April 14.

The initiative of ten banks, under the aegis of the Indian Banks’ Association (IBA), aims to improve the NPCI by implementing distributed ledger technology, the publication underlines.

The NPCI, an umbrella organization that operates retail payments and settlement systems in India and includes 56 national banks as stakeholders, was set up with the guidance and support of the Reserve Bank of India and the IBA. The NPCI will focus on developing blockchain tech in the payment domain for boosting digital transactions, the article states. It also says:

"NPCI intends to develop a resilient, real time and highly scalable blockchain solution. It is proposed to develop this solution using an open source technology/ framework/solution."As Cointelegraph wrote in July of last year, five major banks from each BRICS member, including Brazil, Russia, India, China and South Africa, signed a Memorandum of Understanding on the development of distributed ledger technology for enhancing the digital economy.

Back in last fall, experts in the blockchain field held debates during the Money 20/20 conference in Las Vegas, underlining that blockchain technology will replace the world’s current payment systems, as Cointelegraph reported.

ViteX is exploring the possibility of adding stablecoin trading pairs with low or zero trading fees. This will make it easy for our users to convert between stablecoins, which is a growing demand.
Help us understand your needs by completing this survey here (https://docs.google.com/forms/d/e/1FAIpQLSfrUfx_oKjJktQ93M4_yu5fesPmToADtO0kBJw0ONucdpUgcg/viewform)!

Swiss Federal Council Initiates Blockchain Law Consultation Period

The Swiss Federal Council has started its consultation period on the adaptation of federal law for blockchain development, according to an official press release published on March 22.

By initiating the consultation, the Federal Council intends to improve legal certainty over blockchain applications in order to build a basis for regulatory framework for the industry in Switzerland, particularly in the financial sector.

According to the document, the Federal Council’s consultation will last until the end of June 2019.

In mid-December 2018, the Swiss Federal Council adopted a report on the legal framework for blockchain in the financial sector, stating that the existing financial law in the country is suitable for the blockchain industry, but needs some specific adjustments. The authority advocated for better legal clarity for rights holders on a blockchain network and ensuring that decentralized trading platforms are subject to the country’s Anti-Money Laundering (AML) Act.

Following the announcement, the Council has now released a draft consultation document, proposing a number of adjustments, including the establishment of digital registration of rights in the Swiss Code of Obligations, as well as the segregation of crypto assets in the event of bankruptcy in the Federal Law on Debt Collection and Bankruptcy.

The Council also proposed creating a new authorization category for distributed ledger technology (DLT) trading facilities in the market infrastructure law in order to provide a regulated financial market. Apart from that, the authority suggested an adaptation of the future Financial Institutions Act in order to set up a licence for operating a trading facility as a securities firm.

The Swiss Federal Council stated that AML policies are set to be incorporated into the planned amendment of the Anti-Money Laundering Ordinance as part of the ongoing revision of the Anti-Money Laundering Act.

Earlier this week, the Federal Assembly of the Swiss government approved a motion to instruct the Federal Council to adapt existing legislation for cryptocurrency regulation.
Link

@blaup 1. for new users, they can claim 10 VITE daily for 14 times if they bind the Twitter, which means they will have enough 134 VITE for stake once 14 times comes.
2. for staking, it's not a joke, we really want beside the airdrop you gain, you learn about VITE. Good for both users and Vite.
3. Referral program is not yet activated. Kindly stayed tuned for further notice.
4. Both new and old user have chance to join Vite airdrop lottery, which is rarely, you win lottery means you are lucky, if not, let's enjoy what you gain. Good luck!

Vite Bi-weekly Report May 1–15, 2020

Recent Milestones

Strategic partnerships
On May 7, Vite Labs announced a strategic partnership with KardiaChain. Both parties will jointly explore payment solutions and develop infrastructure for blockchain interoperability. KardiaChain is in partnership with a top telecom company in Vietnam with 60 million users, and it aims to establish Vietnam’s first mobile payment gateway. Vite’s collaboration with KardiaChain will provide more opportunity to expand Vite’s crypto payment network in Vietnam and Southeast Asia.

ViteX Exchange
On April 30, ViteX released DEX API. Users can apply for API Keys on the ViteX website. The launch of the API will further expand the ViteX trading ecosystem, help attract quant traders, and improve liquidity for the exchange.

On May 8, KardiaChain coin(KAI) was listed on ViteX via Vite Labs gateway. On May 9, KAI / ETH trading pair was opened, enabling market-making as mining.
Users with more than 10 VX in the Vite app received an airdrop of 1,250,000 KAI. This is the first time we rewarded VX users with airdrops, and we received positive feedback. In the future, we plan to run similar campaigns, iterate on best practices for airdrop rules, and coordinate with projects to increase airdrop amounts. We hope these measures will continue to raise VX’s intrinsic value.
Technology Series
On May 6, we published the technical article “The Design and Implementation of ViteX Contracts”, which briefly explained the smart contracts used within ViteX.

Community AMA
On May 9th, KardiaChain ran an AMA in Vite telegram group and rewarded 150,000 KAI to the community.

Vite Official Website
We ran a community vote on the new design of vite.org. The result will be published soon. Thanks all for participating!
Vite Mainnet
On May 27, Vite network will have the fourth hard fork named MARS. The main purpose of this hard fork is to upgrade the built-in contract of ViteX. Details: https://forum.vite.net/topic/3848/important-vite-mainnet-4th-hard-fork

Data on ViteX
As of May 15, 16,740,658 VITE have been burned, accounting for 1.67% of total issuance.
137,756,367 VITE are staked on ViteX exchange, accounting for 13.78% of total issuance.
6,377,320 VX has been released, of which 5,957,905 VX is being staked for dividends.
To-date, 49.5 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 30.3 BTC.

System Developments

Vite Wallet
Vite Wallet 3.6.0 (iOS and Android) has been formally released. This version re-writes the built-in ViteX exchange in native code so as to significantly optimize the trading experience. In addition, Vite Connect, which is relied upon when generating ViteX API Key, was also upgraded. Users can self-generate API Key on the ViteX website by scanning the QR code in Vite Wallet.

After the 3.6.0 version was released, we received many valuable feedback from the community. The feedback has been well collected, and will be prioritized and incorporated in subsequent versions.
On May 11, we released Vite Wallet 3.6.1 (iOS), solving the problem that some ERC20 token transfers may fail due to gas limit, as well as under certain circumstances the built-in ViteX page may be stuck.
On May 14, we submitted Vite Wallet 3.6.1 (Android) to Google Play for review. This version fixes the occasional app stuck problem when switching addresses, and the problem that exchange-related message may wrongly appear on non-exchange pages.
We also started the development of V3.7.0. In this version, we will continue to add new features to the exchange and reduce the size of the app package for faster download.
Starting from V3.6.0, we changed the app name from Vite Wallet to Vite, meaning that the positioning of Vite wallet has changed from a single-purpose wallet to a full-stack wallet + exchange decentralized crypto asset management tool.
ViteX Exchange
ViteX API has been formally released. In the past two weeks, we have made additional optimizations, such as checking the minimum order amount and available balance to avoid invalid transactions and standardizing error code and message returns.
We are in the process of integrating ViteX API with CCXT. CCXT (https://github.com/ccxt/ccxt) is an open-source cryptocurrency exchange API adapter library that currently supports 120 exchanges. Through CCXT, users can ignore the differences in API interfaces of different exchanges and simplify the development of trading bots. At present, there are many quantitative trading programs that use the CCXT library to access different exchanges. After our integration, these existing programs will be directly accessible on ViteX.

In addition, the upgrade of ViteX built-in contract is finished. A new hard fork has been scheduled on May 27, which includes optimizing order cancellation logic, unifying the logic of order flows by raw signatures and delegated orders, and merging order placements and cancellations from the same address into one queue to ensure the deterministic matching result.
Website Upgrade
We have completed the product design and visual design of the new vite.org. The new version of Vite official website focuses on key information for facilitating new visitors to understand the full picture of Vite.
In the visual design, we have selected 6 different design schemes. It’s completely up to our users to choose the final plan through community voting.

Activities
Vite COO Richard released a new episode on The Blockchain Debate Podcast. The guests included Uri Klarman, the CEO of Bloxroute, a Chicago-based layer-0 blockchain company; and Mrinal Manohar, the CEO of CasperLabs, a New York-based public blockchain firm. The debate topic was a technical discussion around public chain scalability. The focus of the discussion was on how to achieve scalability via accelerating block transmission at the network’s transport layer.

• Past interviews are available here: https://blockdebate.buzzsprout.com
• Follow Richard on Twitter: Twitter.com/gentso09

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Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en

Ethereum Co-Founder Joseph Lubin: Blockchain Will Be Most of the Economy in 10-20 Years

Ethereum (ETH) co-founder Joseph Lubin said that he expects the global economy will be 10 times larger in 10 to 20 years, when blockchain is fully ramified, and blockchain will be involved in most of it. Lubin made the statement at the SXSW conference in Austin on March 14.

During the same keynote, Lubin also pointed out that just as nowadays there aren’t many “normal” people using blockchain-based systems, “there weren’t a lot of ‘normal’ people firing email around in 1983.”

He also reiterated the promises of Ethereum 2.0, stating that there are a lot of inefficiencies present in Bitcoin (BTC) and the current version of Ethereum that Ethereum 2.0 won’t have:

“In Bitcoin and currently in Ethereum, you need to have specialized hardware, burn lots of electricity, waste lots of computation, to basically keep everybody in sync. [With Ethereum 2.0, in 18 months] we’ll have a blockchain system much more powerful and scalable that uses orders of magnitude less energy.”

As Cointelegraph recently reported, Lubin also said that blockchain technology and decentralization can benefit content creators and journalists.

The statements mentioned above are also in line with what Lubin said in November last year, when he told a New York Times interviewer that with blockchain, society will move “from a scarcity to an abundance mindset.”

Link

KardiaChain AMA review with Vite community on 09 May 2020

On 09 May 2020, Vite welcome the special guests from KardiaChain, joining an AMA with the community at Telegram.
Tri Pham - CEO; Huy Nguyen - CTO; Son Nguyen - Head of Business Development: Astrid Dang - Head of Marketing & Partnerships

About KardiaChain

KardiaChain is the public blockchain platform focusing on interoperability and providing hybrid blockchain solutions/infrastructure for enterprise and government, not only in Vietnam but also in other countries in Southeast Asia.

They are working with major service providers (enterprises and government) to decentralize their existing solutions. KardiaChain's goal is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol, which provides easy-to-adopt solutions for institutional clients.

KardiaChain has successfully completed IEO on Gate.io with a total of $19m oversubscription. Based out of Vietnam — KardiaChain boasts a lineup of top Enterprise and Blockchain partners, which can be named: BlockCrafters Capital, Matic, Band Protocol, Tokoin Contentos, CertiK, TOP network, VTVCab, Vietnam Football Federation, Geleximco and has formed a partnership with Vite Labs.

More information about KardiaChain be found here.
Useful link
Website: https://kardiachain.io
Twitter: https://twitter.com/KardiaChain
Telegram: https://t.me/kardiachain
Official Announcement: https://t.me/KardiaChainOfficial
Medium: https://medium.com/@KardiaChain
Github: https://github.com/kardiachain/go-kardia

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Here is the AMA summary

Vite admin: What are the Competitive advantages of KardiaChain & Why do any service providers choose KardiaChain instead of other similar projects?
Tri Pham- KardiaChain CEO: We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services for the general public. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto the blockchain in a highly-efficient manner, while at the same time-saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors.
Our dapps are tokenized with many KAI use cases integrated. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, live stream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.

Vite admin: What's ON sports? Your company is in collaboration with "ON sports", could you tell in details some features about this KardiaChain 1st dApp?
Tri Pham- KardiaChain CEO: KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include: Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
ON Sports is the top sport app owned by VTVCab, a national tv channel in Vietnam.
There are several blockchain features
1.Prediction Games
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
2.Livestream Donations
Users will be able to send donations to their favorite football players using KAI tokens either during football livestreams, or even their favorite player’s personal livestream.
3.Daily Rewards
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens as rewards.
More details of the On sport can be found here

A sneak peak for those who want to check the app.
Here are the links:
AppStore | Google Play

Vite admin: Why does KardiaChain pay high attention to the hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Tri Pham- KardiaChain CEO: Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are much more practical for real world usage and blockchain adoption i.e. our ADapps. Let’s have a look at the mobile payment gateway example and how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security, and privacy:
Each purchase on this new channel is a single transaction. Vietnam with over 100 million population will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto the blockchain.
These transactions will, therefore, be processed on the Telco’s private Kardiachain blockchain to maximize scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain
Information that does not require scalability, nor confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain

**Vite admin:**It's clear that blockchain projects are striving to achieve the "massive adoption". What's your mass adoption definition? What's KardiaChain going to do to achieve this, not only in the Vietnam market but also worldwide?
Tri Pham- KardiaChain CEO: Mass adoption for me means a large enough number of users to bring meaningful interactions on the blockchain
I like the idea of “tipping point”, where enough of people use blockchain services or possess the tokens will lead to a dramatic shift of behavior.
We are working in Vietnam first because it’s our home market. I want to make a strong case for the world about blockchain adoption.
Although China is very well ahead of the rest of the world, I still believe there is more space for blockchain in Vietnam. Especially because we have no legacy system to compete with.
For example, in developed countries, they already have a system in place for digital services. Blockchainisation will be a headache due to all the data migrations and changes in workflow.
Vietnam is still opened for that, we are in the golden population structure, a Young workforce that is tech-savvy and ready to learn.

Vite admin: I've got a question from some community users.
Can you tell us more about the partnership between Vite and KardiaChain. What scopes are the two parties going to work together?
Tri Pham- KardiaChain CEO: KardiaChain is developing a mobile payment gateway to reduce entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels. We started the integration process with the largest telco in Vietnam with over 60m subscribers, and other SouthEast Asia countries, who will be able to purchase KAI tokens using their mobile balance. Vite has been working with their partner Alchemy regarding their payment network integrated with POS providers currently used in Singapore. Vite will use KardiaChain’s mobile payment gateway to enlarge its user ecosystem. The cooperation will significantly leverage ecosystem’s user base to reach a higher goal of a blockchain digital payment landscape throughout Asia.
We can support each other in DEX technology. KardiaChain is "Non-invasive" interop, which means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol. Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol. Since KardiaChain support cross-chain operations through smart contract, we also have an MVP in our fully decentralized cross-chain exchange.
Vite with the goal of enabling fully decentralized cross-chain asset transfer, will apply fully non-invasive interoperability “Dual Node” KardiaChain technology to enable Vitechain cross-chain transactions in a fully non-custodial manner.

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Section 2: Community Q&A

1.@iam12312: What were the main challenges that you faced in these times & how do you see these Developments helping Kardiachain to Attract Investors from around the globe? & Also talk about the positives?

Son Nguyen We have a grand vision for KardiaChain and have been working to well-position our company to become the dominant player in Vietnam. So there are three points:
First, Vietnam is a great market for blockchain and KardiaChain will be number 1 in Vietnam. Second, we focus on building adoption and real-life applications for the token. Last, fixed supply and increasing demand will drive token value steadily. So KAI holders will both having great returns over a long time and become the early supporters for a decentralized future, starting from Vietnam.

2.@BintAlansary Could you give me 3 key points to convince me and other angel investors invest in $KAI in the long-term?

Astrid Dang: KAI is mainly used in staking, paying for transactions, deploying smart contract, and participating in services in KardiaChain ecosystem. KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a series of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demand will drive the value up.

3.@rinnguyen: Can you tell me Three reason why Investors should invest in Kardiachain?

Son Nguyen Moreover, KardiaChain is proud to have many existing revenue streams by collaborating with major international and domestic strategic business partners like our first ADapp announced: ON Sports with 200,000 registered users. So how exactly do our partnerships with major organizations benefit investors?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Learn more about our ADapps here

4.@ashwini_Crypto: What are your plans Regarding increasing Real Value & Real demand of the KAI Token? Can we see the utilisation of these tokens in the gaming Industry?
Tri Pham We are applying KAI tokens into multiple industries. By getting more users in different market segmentations, we can increase the demands for KAI. Blockchain for Gaming industry includes several aspects: payment, single sign-on (SSO), and game items (NFT). KAI token usage will focus on SSO and NFT (but there are legal concerns). For Payment we already have a mobile payment channel with telecom.

5.@mikuranaI see on your platform, one of your ecosystem products is "ESWIM" can you explain in detail how this ecosystem product works on your project?

Astrid Dang: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security. The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we combine machine learning models with our computed formula to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem. Then we can incentivize the validators to stay in one group or move to other groups through different methods such as increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups that already have high number validators etc.

6.@Sanjuroman1992How actually KardiaChain provide non-invasive interoperability and how can able to connect all blockchains to single protocol?

Son Nguyen: "Non-invasive" interop means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol.
For second part of you question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like "hold-and-release-at-certain-time" which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.

7.@Shaa93: For each project, #community factors contribute to the project's victory. Kardichain is new, so how does the project have a marketing plan to attract the interest of newcomers and maintain participants in the Kardichain community?

Astrid Dang Great question! Please check out this article to learn more about our blockchain adoption approach, it is user-friendly because our effort is to decentralize enterprises and government solutions, which are well-established with existing large userbase. Our hybrid ỉnastructure as well as non-invasive platform are useful for this: https://link.medium.com/pugfV3j9j6

For the Intangible wallet solution, please read more here: https://t.me/kardiachainofficial/177

The end of AMA. Special thanks to KardiaChain team for joining the AMA

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KAI/ETH trading is open, Market-making as Mining VX is enabled.

Trade here: https://x.vite.net/trade?symbol=KAI-000_ETH-000
See the announcement here: https://forum.vite.net/topic/3822/ann-vite-labs-listing-kardiachain-kai-and-airdropping-1-250-000-kai-to-vx-holders
ViteX exchange telegram at https://t.me/vitexexchange

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Vite useful resources:

Website: https://vite.org
Telegram: https://t.me/vite_en
ViteX: https://vitex.net
ViteX telegram: https://t.me/vitexexchange

Japan Draws up Cryptocurrency Regulations ‘Manual’ for G20 Leaders

Japan has prepared a “manual” of cryptocurrency regulation proposals that it will hand out to G20 leaders and international financial chiefs.

The country will host both the G20 Summit and G20 Ministerial Meetings on June 28-29 in Osaka, and as host, has the right to set much of the agenda for the talks.

As previously reported, Tokyo is keen to bring cryptocurrency regulation to the table. Japanese ministers want global leaders to agree on a shared international framework for regulations. Tokyo strongly opposes the status quo – whereby regulations in some G20 nations are exceptionally tight and virtually non-existent in others.

Per Sankei Biz, the Japanese government has thus drawn up its “manual” (also described as a “handbook”) of cryptocurrency governance proposals and justifications – pertaining to cryptocurrency exchanges in particular.

Tokyo is hoping to illustrate the need to implement the following:

Systems that protect customer assets
International security protocols
Systems that provide customers with information – particularly in the event of a hack
The book will also outline two damaging hacks that Japanese exchanges suffered last year. The crippling Coincheck hack in January was a watershed moment for Japanese exchange policy. The Zaif hack, which took place in September, also resulted in sweeping legislative changes.

Japan has imposed the country’s exchanges with a strict set of regulations. Exchanges are obliged to seek operating permits from the regulatory Financial Services Agency, which has the power to conduct extensive, on-site audits or even suspend trade. Exchanges are also policed by the self-regulating Japanese Virtual Currency Exchange Association (JVCEA.) For example, Japanese exchange platform SBI Virtual Currencies, owned by financial giant SBI Group, says its recent decision to delist Bitcoin Cash was made in accordance with JVCEA guidelines

The G20 has briefly debated cryptocurrency regulations at previous meetings, and has tentatively agreed on the importance of international crypto tax measures, but has so far refrained from taking decisive action.

An Introduction to Vite Asynchronous Architecture

Vite is a new generation of reactive blockchain, which adopts a message-drive asynchronous architecture. In Vite ecosystem, asynchronous is not only an important concept, but also a very critical innovation.
The Model of Asynchronous Requests
Transactions in Vite can be categorized as request transactions and response transactions. Regardless of whether an event is a transfer or the call of a contract, two successive transactions get generated on the ledger.

A transfer can be split into a receive transaction and a send transaction; a transaction to invoke a contract can be split into a contract request transaction and a contract response transaction; the message call within each contract can be split into a request transaction and a response transaction.
After the split, each transaction only affects the state of a single account, and transactions do not interfere with one another, which improves throughput. In addition, transactions by different accounts are also allocated to different nodes in the network, thereby increasing scalability.
The Model of Asynchronous Confirmation
In the Vite framework, writing transactions into a ledger and receiving confirmations by the system are also asynchronous. Different users may write transactions into the ledger in parallel., and the snapshot chain will take snapshots of the ledger at a constant rate. A confirmation happens once a snapshot of a transaction is taken. As the snapshot chain grows, the number of confirmations will also increase.

The Model of Asynchronous Communication
Vite’s inter-contract communications incorporate a message-driven architecture, where the contracts do not share states but only communicate by sending messages to each other.

****If a contract calls another contract, the former needs to send a request transaction first. This is logically similar to producing a message in MQ. After the node running the target contract observes the request transaction, the node writes a corresponding response transaction in the ledger, and updates the state of the contract. This process is equivalent to consuming a message from MQ.if a return value is needed, the target contract will send another message to the source contract in the same way.
In this model, Vite’s ledger serves the role of the message middleware, and can guarantee the exactly-once semantics of messages.
The message-based architecture features high throughput and scalability. But on the flip side, the programming models become more complex. Not only is strong consistency not guaranteed, but latencies may become longer.
To address the above issues and reduce the cost of asynchronous programming, Vite will provide a contract language called Solidity++ and a full SDK associated with it. After rigorous research, we found that in actual scenarios, BASE semantics can replace ACID semantics. The increase in delay is still under control since the HDPoS consensus algorithm guarantees completion of the transaction confirmation within 1 second.

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Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
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@maximuskm yes?

In order to incentivize capable teams and developers to build the Vite ecosystem together, the Vite Foundation has launched a support plan to encourage outstanding developers to participate in the development of the Vite ecosystem.

How to participate in the Vite Ecosystem Incentive Program?
The Vite Foundation will release development bounty tasks from time to time. Developers may apply for the tasks by submitting the application form and start development after receiving formal approval.

The 1st Dev Bounty Task: Vite Full Node Query
Use case:
Search for a certain address to view the status of all nodes under this address (number of nodes, status, uptime rate, version, etc.)
Development scope and description:

After entering the Vite address, click ‘search’ to jump to the details page.

• Vite address only

• After entering a correct address, click ‘search’ to jump to the details page.

• For wrong addresses, display “Please enter a proper Vite address
  
  Node details page should have the following functions:

• Display a Vite logo and the total number of nodes on the top of the page;

• Show node name, online status, uptime rate, version and registered address in search results;

• Provide a search box to search for a different address;

• If no node is registered under the current address, the result list will be empty;

• Hitting the ‘Back’ button of the browser will return to the homepage.
  Requirements:

• All functions described above must be provided;

• The mockup UI can be customized in developer’s preferred style but should be kept neat with a good looking;

• Must support English language;

• Support both PC and mobile device;
  Bounty: 10,000 VITE
  Note: Necessary API interface will be provided by Vite Labs once the task is assigned.

Application Process & Bounty Rules:
Submit the application form at: https://forms.gle/pmgxuF9aT4nqydkp6;

• Only one application will be accepted;
• Selected applicant will be announced in one week (by Nov 9);
• The task should be completed in the next two weeks;
• Qualified result of work must be provided, including the open-sourced code on GitHub and a URL link to the deployed application;
• 10,000 VITE will be granted by Vite Foundation after the result of work is confirmed and accepted.

---

Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en

Dear ViteX community,

The ViteX team is always looking to provide users with a better trading experience and protect the rights and interests of investors. As such, we recently worked with operators to limit the display of certain trading pairs. In general, operators should monitor the activeness of projects after listings. When an operator sees that a project is no longer actively developing, it should suspend the display of relevant trading pairs for such a project.

Note that since ViteX is a decentralized exchange, the trading pairs still live on the Vite chain. The ViteX team is merely making changes to the user interface to disable the display of these trading pairs. Therefore, undisplayed trading pairs are not “delisted.” Users may access them via either a third-party community-built website or by entering URLs on vite.net (example: https://x.vite.net/trade?symbol=XYZ-000_ABC-000). Also, since users custody their own tokens (Vite-wrapped), the security of these assets are not affected.

Separately, we also encourage operators to build their own decentralized exchanges based on the Vite blockchain. This is in line with the philosophy of Open Finance. In the long run, operators will benefit from building their own brand on a platform-independent from ViteX.

There will be a list of trading pairs that might be hidden based on the new rules on Nov 11, 2020.

Details of the Rules
For the sake of transparency, we enumerate below the rules for un-displaying trading pairs:

1. Project and Team
1.1 The project team has demonstrated unethical and fraudulent behaviors: E.g., the information of team founders, co-founders and consultants have been proven fraudulent; or said individuals are suspected of being involved in market manipulation or other major legal issues.

1.2 The project has been determined to have violated laws by national and regional regulators.

2. Volume and Price
2.1 For each trading pair, the average daily trading volume is less than 0.02 BTC for 2 consecutive weeks; or the trading volume is zero for 72 hours.

2.2. The project team concealed major events that may seriously affect the token price;

2.3 The trading platform and users are not notified at least 15 days prior to an increase in total supply, or a hard fork.

3. Operation of the project
3.1 The official website and community have not been maintained for a long time, and the social media or official website has not disclosed any project progress (for example: development progress, version updates, team trends, etc.) for 2 months;

3.2 The project’s information disclosure has major deviations or falsehoods;

3.3 The project team unlocks tokens earlier than the lock-up schedule as promised in the whitepaper or via other forms of communication.

4. Security
4.1 The mainnet has security risks, such as smart contract security vulnerabilities (e.g., stack overflow);

4.2 The project has been successfully 51%-attacked, or there exists serious possibility of such;

4.3 Software development has not been carried out according to the schedule in the whitepaper, and there is no announcement for related delays;

4.4 The blockchain/protocol layer source code (GitHub) has not been updated for a long time, and the long-term version of the application project product has not been updated.

5. Other
5.1 The team does not respond to community inquiries;

5.2 Other unethical, fraudulent or illegal acts

As the operator detects any of the above situations, it needs to communicate with the ViteX team. The ViteX team will provide the operator with the necessary technical support to hide the relevant trading pairs. The operator will subsequently announce to the community about the oncoming hide of trading pairs. Usually, the operator will make such an announcement one week in advance, but in the event of serious potential security problems, this lead time may be reduced.

Hi, can you tell exactly what happened?

Dear Users,

Trading pair AR/USDT will soon be enabled with Trading and MM as mining, starting 15:00 (UTC+8) on Oct 13.

A week of special event to receive 3X market-making as mining rewards for trading pair AR/USDT will also start from 15:00 (UTC+8) Oct 13 and last through 15:00 (UTC+8) Oct 20.

About Arweave

Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever.

Mining Range

Note:

The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.

The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.

Example
Suppose that the USDT market has only HNS/USDT trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:

The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)

The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn

Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day

Links:

ViteX website：https://vitex.net/

Vite APP Download：https://app.vite.net/

Twitter：https : //twitter.com/ViteXExchange

Telegram：https : //t.me/vitexexchange

Oct 12, 2020

Team ViteX

ViteX is exploring the possibility of adding stablecoin trading pairs with low or zero trading fees. This will make it easy for our users to convert between stablecoins, which is a growing demand.
Help us understand your needs by completing this survey here (https://docs.google.com/forms/d/e/1FAIpQLSfrUfx_oKjJktQ93M4_yu5fesPmToADtO0kBJw0ONucdpUgcg/viewform)!

Vite Bi-weekly Report May 1–15, 2020

Recent Milestones

Strategic partnerships
On May 7, Vite Labs announced a strategic partnership with KardiaChain. Both parties will jointly explore payment solutions and develop infrastructure for blockchain interoperability. KardiaChain is in partnership with a top telecom company in Vietnam with 60 million users, and it aims to establish Vietnam’s first mobile payment gateway. Vite’s collaboration with KardiaChain will provide more opportunity to expand Vite’s crypto payment network in Vietnam and Southeast Asia.

ViteX Exchange
On April 30, ViteX released DEX API. Users can apply for API Keys on the ViteX website. The launch of the API will further expand the ViteX trading ecosystem, help attract quant traders, and improve liquidity for the exchange.

On May 8, KardiaChain coin(KAI) was listed on ViteX via Vite Labs gateway. On May 9, KAI / ETH trading pair was opened, enabling market-making as mining.
Users with more than 10 VX in the Vite app received an airdrop of 1,250,000 KAI. This is the first time we rewarded VX users with airdrops, and we received positive feedback. In the future, we plan to run similar campaigns, iterate on best practices for airdrop rules, and coordinate with projects to increase airdrop amounts. We hope these measures will continue to raise VX’s intrinsic value.
Technology Series
On May 6, we published the technical article “The Design and Implementation of ViteX Contracts”, which briefly explained the smart contracts used within ViteX.

Community AMA
On May 9th, KardiaChain ran an AMA in Vite telegram group and rewarded 150,000 KAI to the community.

Vite Official Website
We ran a community vote on the new design of vite.org. The result will be published soon. Thanks all for participating!
Vite Mainnet
On May 27, Vite network will have the fourth hard fork named MARS. The main purpose of this hard fork is to upgrade the built-in contract of ViteX. Details: https://forum.vite.net/topic/3848/important-vite-mainnet-4th-hard-fork

Data on ViteX
As of May 15, 16,740,658 VITE have been burned, accounting for 1.67% of total issuance.
137,756,367 VITE are staked on ViteX exchange, accounting for 13.78% of total issuance.
6,377,320 VX has been released, of which 5,957,905 VX is being staked for dividends.
To-date, 49.5 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 30.3 BTC.

System Developments

Vite Wallet
Vite Wallet 3.6.0 (iOS and Android) has been formally released. This version re-writes the built-in ViteX exchange in native code so as to significantly optimize the trading experience. In addition, Vite Connect, which is relied upon when generating ViteX API Key, was also upgraded. Users can self-generate API Key on the ViteX website by scanning the QR code in Vite Wallet.

After the 3.6.0 version was released, we received many valuable feedback from the community. The feedback has been well collected, and will be prioritized and incorporated in subsequent versions.
On May 11, we released Vite Wallet 3.6.1 (iOS), solving the problem that some ERC20 token transfers may fail due to gas limit, as well as under certain circumstances the built-in ViteX page may be stuck.
On May 14, we submitted Vite Wallet 3.6.1 (Android) to Google Play for review. This version fixes the occasional app stuck problem when switching addresses, and the problem that exchange-related message may wrongly appear on non-exchange pages.
We also started the development of V3.7.0. In this version, we will continue to add new features to the exchange and reduce the size of the app package for faster download.
Starting from V3.6.0, we changed the app name from Vite Wallet to Vite, meaning that the positioning of Vite wallet has changed from a single-purpose wallet to a full-stack wallet + exchange decentralized crypto asset management tool.
ViteX Exchange
ViteX API has been formally released. In the past two weeks, we have made additional optimizations, such as checking the minimum order amount and available balance to avoid invalid transactions and standardizing error code and message returns.
We are in the process of integrating ViteX API with CCXT. CCXT (https://github.com/ccxt/ccxt) is an open-source cryptocurrency exchange API adapter library that currently supports 120 exchanges. Through CCXT, users can ignore the differences in API interfaces of different exchanges and simplify the development of trading bots. At present, there are many quantitative trading programs that use the CCXT library to access different exchanges. After our integration, these existing programs will be directly accessible on ViteX.

In addition, the upgrade of ViteX built-in contract is finished. A new hard fork has been scheduled on May 27, which includes optimizing order cancellation logic, unifying the logic of order flows by raw signatures and delegated orders, and merging order placements and cancellations from the same address into one queue to ensure the deterministic matching result.
Website Upgrade
We have completed the product design and visual design of the new vite.org. The new version of Vite official website focuses on key information for facilitating new visitors to understand the full picture of Vite.
In the visual design, we have selected 6 different design schemes. It’s completely up to our users to choose the final plan through community voting.

Activities
Vite COO Richard released a new episode on The Blockchain Debate Podcast. The guests included Uri Klarman, the CEO of Bloxroute, a Chicago-based layer-0 blockchain company; and Mrinal Manohar, the CEO of CasperLabs, a New York-based public blockchain firm. The debate topic was a technical discussion around public chain scalability. The focus of the discussion was on how to achieve scalability via accelerating block transmission at the network’s transport layer.

• Past interviews are available here: https://blockdebate.buzzsprout.com
• Follow Richard on Twitter: Twitter.com/gentso09

---

Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en

Hi, please reach out to one of our Operators at Vitex.net

KardiaChain AMA review with Vite community on 09 May 2020

On 09 May 2020, Vite welcome the special guests from KardiaChain, joining an AMA with the community at Telegram.
Tri Pham - CEO; Huy Nguyen - CTO; Son Nguyen - Head of Business Development: Astrid Dang - Head of Marketing & Partnerships

About KardiaChain

KardiaChain is the public blockchain platform focusing on interoperability and providing hybrid blockchain solutions/infrastructure for enterprise and government, not only in Vietnam but also in other countries in Southeast Asia.

They are working with major service providers (enterprises and government) to decentralize their existing solutions. KardiaChain's goal is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol, which provides easy-to-adopt solutions for institutional clients.

KardiaChain has successfully completed IEO on Gate.io with a total of $19m oversubscription. Based out of Vietnam — KardiaChain boasts a lineup of top Enterprise and Blockchain partners, which can be named: BlockCrafters Capital, Matic, Band Protocol, Tokoin Contentos, CertiK, TOP network, VTVCab, Vietnam Football Federation, Geleximco and has formed a partnership with Vite Labs.

More information about KardiaChain be found here.
Useful link
Website: https://kardiachain.io
Twitter: https://twitter.com/KardiaChain
Telegram: https://t.me/kardiachain
Official Announcement: https://t.me/KardiaChainOfficial
Medium: https://medium.com/@KardiaChain
Github: https://github.com/kardiachain/go-kardia

---

Here is the AMA summary

Vite admin: What are the Competitive advantages of KardiaChain & Why do any service providers choose KardiaChain instead of other similar projects?
Tri Pham- KardiaChain CEO: We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services for the general public. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto the blockchain in a highly-efficient manner, while at the same time-saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors.
Our dapps are tokenized with many KAI use cases integrated. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, live stream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.

Vite admin: What's ON sports? Your company is in collaboration with "ON sports", could you tell in details some features about this KardiaChain 1st dApp?
Tri Pham- KardiaChain CEO: KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include: Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
ON Sports is the top sport app owned by VTVCab, a national tv channel in Vietnam.
There are several blockchain features
1.Prediction Games
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
2.Livestream Donations
Users will be able to send donations to their favorite football players using KAI tokens either during football livestreams, or even their favorite player’s personal livestream.
3.Daily Rewards
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens as rewards.
More details of the On sport can be found here

A sneak peak for those who want to check the app.
Here are the links:
AppStore | Google Play

Vite admin: Why does KardiaChain pay high attention to the hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Tri Pham- KardiaChain CEO: Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are much more practical for real world usage and blockchain adoption i.e. our ADapps. Let’s have a look at the mobile payment gateway example and how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security, and privacy:
Each purchase on this new channel is a single transaction. Vietnam with over 100 million population will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto the blockchain.
These transactions will, therefore, be processed on the Telco’s private Kardiachain blockchain to maximize scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain
Information that does not require scalability, nor confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain

**Vite admin:**It's clear that blockchain projects are striving to achieve the "massive adoption". What's your mass adoption definition? What's KardiaChain going to do to achieve this, not only in the Vietnam market but also worldwide?
Tri Pham- KardiaChain CEO: Mass adoption for me means a large enough number of users to bring meaningful interactions on the blockchain
I like the idea of “tipping point”, where enough of people use blockchain services or possess the tokens will lead to a dramatic shift of behavior.
We are working in Vietnam first because it’s our home market. I want to make a strong case for the world about blockchain adoption.
Although China is very well ahead of the rest of the world, I still believe there is more space for blockchain in Vietnam. Especially because we have no legacy system to compete with.
For example, in developed countries, they already have a system in place for digital services. Blockchainisation will be a headache due to all the data migrations and changes in workflow.
Vietnam is still opened for that, we are in the golden population structure, a Young workforce that is tech-savvy and ready to learn.

Vite admin: I've got a question from some community users.
Can you tell us more about the partnership between Vite and KardiaChain. What scopes are the two parties going to work together?
Tri Pham- KardiaChain CEO: KardiaChain is developing a mobile payment gateway to reduce entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels. We started the integration process with the largest telco in Vietnam with over 60m subscribers, and other SouthEast Asia countries, who will be able to purchase KAI tokens using their mobile balance. Vite has been working with their partner Alchemy regarding their payment network integrated with POS providers currently used in Singapore. Vite will use KardiaChain’s mobile payment gateway to enlarge its user ecosystem. The cooperation will significantly leverage ecosystem’s user base to reach a higher goal of a blockchain digital payment landscape throughout Asia.
We can support each other in DEX technology. KardiaChain is "Non-invasive" interop, which means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol. Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol. Since KardiaChain support cross-chain operations through smart contract, we also have an MVP in our fully decentralized cross-chain exchange.
Vite with the goal of enabling fully decentralized cross-chain asset transfer, will apply fully non-invasive interoperability “Dual Node” KardiaChain technology to enable Vitechain cross-chain transactions in a fully non-custodial manner.

---

Section 2: Community Q&A

1.@iam12312: What were the main challenges that you faced in these times & how do you see these Developments helping Kardiachain to Attract Investors from around the globe? & Also talk about the positives?

Son Nguyen We have a grand vision for KardiaChain and have been working to well-position our company to become the dominant player in Vietnam. So there are three points:
First, Vietnam is a great market for blockchain and KardiaChain will be number 1 in Vietnam. Second, we focus on building adoption and real-life applications for the token. Last, fixed supply and increasing demand will drive token value steadily. So KAI holders will both having great returns over a long time and become the early supporters for a decentralized future, starting from Vietnam.

2.@BintAlansary Could you give me 3 key points to convince me and other angel investors invest in $KAI in the long-term?

Astrid Dang: KAI is mainly used in staking, paying for transactions, deploying smart contract, and participating in services in KardiaChain ecosystem. KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a series of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demand will drive the value up.

3.@rinnguyen: Can you tell me Three reason why Investors should invest in Kardiachain?

Son Nguyen Moreover, KardiaChain is proud to have many existing revenue streams by collaborating with major international and domestic strategic business partners like our first ADapp announced: ON Sports with 200,000 registered users. So how exactly do our partnerships with major organizations benefit investors?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Learn more about our ADapps here

4.@ashwini_Crypto: What are your plans Regarding increasing Real Value & Real demand of the KAI Token? Can we see the utilisation of these tokens in the gaming Industry?
Tri Pham We are applying KAI tokens into multiple industries. By getting more users in different market segmentations, we can increase the demands for KAI. Blockchain for Gaming industry includes several aspects: payment, single sign-on (SSO), and game items (NFT). KAI token usage will focus on SSO and NFT (but there are legal concerns). For Payment we already have a mobile payment channel with telecom.

5.@mikuranaI see on your platform, one of your ecosystem products is "ESWIM" can you explain in detail how this ecosystem product works on your project?

Astrid Dang: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security. The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we combine machine learning models with our computed formula to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem. Then we can incentivize the validators to stay in one group or move to other groups through different methods such as increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups that already have high number validators etc.

6.@Sanjuroman1992How actually KardiaChain provide non-invasive interoperability and how can able to connect all blockchains to single protocol?

Son Nguyen: "Non-invasive" interop means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol.
For second part of you question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like "hold-and-release-at-certain-time" which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.

7.@Shaa93: For each project, #community factors contribute to the project's victory. Kardichain is new, so how does the project have a marketing plan to attract the interest of newcomers and maintain participants in the Kardichain community?

Astrid Dang Great question! Please check out this article to learn more about our blockchain adoption approach, it is user-friendly because our effort is to decentralize enterprises and government solutions, which are well-established with existing large userbase. Our hybrid ỉnastructure as well as non-invasive platform are useful for this: https://link.medium.com/pugfV3j9j6

For the Intangible wallet solution, please read more here: https://t.me/kardiachainofficial/177

The end of AMA. Special thanks to KardiaChain team for joining the AMA

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KAI/ETH trading is open, Market-making as Mining VX is enabled.

Trade here: https://x.vite.net/trade?symbol=KAI-000_ETH-000
See the announcement here: https://forum.vite.net/topic/3822/ann-vite-labs-listing-kardiachain-kai-and-airdropping-1-250-000-kai-to-vx-holders
ViteX exchange telegram at https://t.me/vitexexchange

---

Vite useful resources:

Website: https://vite.org
Telegram: https://t.me/vite_en
ViteX: https://vitex.net
ViteX telegram: https://t.me/vitexexchange

Nice review!

On 11 Mar 2020, 14:00 UTC, Vite welcome the special guest Nikolaos Kost, from Business and Partnerships Department of Harmony joining an AMA with Vite community at Telegram.

About Harmony
Harmony is a fast and secure blockchain with innovations in state sharding and peer-to-peer networking. Its sharding uses secure proof-of-stake and decentralized randomness, and its networking achievers optimal cross-shard routing and fast block propagation. Since its Mainnet launched in June, Harmony was able to draw much attention from the developer community. Dapps started to be built on Harmony blockchain and some of them issued their own tokens.
Useful links
Website： https://harmony.one/
Telegram： https://telegram.me/harmony_one
GitHub： https://github.com/harmony-one/harmony
Explorer：https://explorer.harmony.one/#/
Discord： https://discordapp.com/invite/rdCmBpe
Twitter： https://twitter.com/harmonyprotocol

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AMA

Vite admin: Welcome to the AMA today, Nikost, can you tell us about yourself, and Harmony story?
Nikost – Harmony: Harmony is a fast and secure blockchain. Our mission is to scale trust for billions of people and create a radically fair economy. We are a team of infrastructure engineers in Silicon Valley, including 4 Ph.D., 7 ex-Google/Amazon/Apple/Facebook, 2 Harvard MBA, and Stanford/Berkeley AI graduates.
I have joined Harmony's marketing team during April 2019 when we have launched Harmony IEO on Binance, and the last months I am working with partners building on Harmony. I am working from the EU office - while Harmony has HQ also in San Francisco and China.
Except for being intelligent, the team is also hard-working. Here you can see our GitHub Activity.
Vite admin: Adoption is one of the important factors that all sustainable blockchain projects. Could you tell us what is Harmony's achievement and your plan to achieve ADOPTION, real use cases?
Nikost – Harmony: I would dare to say that blockchains that will fail to build cases outside of the crypto will not be viable in the long-term.
Once staking is launched, we have plans to integrate with Lympo, which is a Samsung Galaxy health tracking app that rewards users based on their activity. They are built on Ethereum, but are interested in Harmony for its scalability and low transaction cost. We are also integrating Quidd, which is a digital collectible that we acquired.
We are currently exploring an integration point to allow for transactions to operate on Harmony. Lastly, our biggest focus is our Cross-Fi platform. Our team sees a huge opportunity in Cross-FI (Cross Border Finance) finance. We have done a lot of exploration in South Korea, China, India, and South East Asia to figure out which horizontal layer of the vertical stack would fit best. Is it the settlement, credit rating for the international accounting layer? We are trying to figure out how Harmony will best integrate in terms of its speed and low transaction costs.
Vite admin: What innovations brings Harmony's Effective Proof of Stake?
Nikost – Harmony: Harmony is a Proof of Stake Blockchain. We were researching both technically and economically how to make Proof of Stake more effective- hence we have published in May 2019 our Effective Proof of Stake.
The model we considered, is different from traditional PoS, which is very wealth driven. In those models, if you own 90% of staked tokens you earn 90% of rewards. To encourage more decentralization, EPoS will enable a median stake. There will be a 20% up and down number that would be the sweet spot for earning rewards. In that sweet spot, everyone is earning the same amount. If a validator stakes too much, they would be out of the sweet spot and potentially earn no rewards. For example, if 7 was the sweet spot, and they staked 100, 93 of those tokens staked would not earn any rewards. It’s in the delegator's best interest to find the best validator that is in the low margin of staking. The best ROI in rewards is highest when staking for those in the sweet spot.
Effective proof of stake (EPoS) is just one way we are incentivizing decentralization. Once we are live, we will continue testing and improving. Our philosophy at Harmony is to deliver products as quickly as possible so we can learn faster and improve quickly. More details are available here.
Vite admin: How close is to release Open Staking? Is Harmony the first PoS sharded blockchain into production?
Nikost – Harmony: Actually, it's a great timing you address this question. Today we will publish our announcement about the Open Staking Launch pending deliverables and launch timeline. It might be live until the AMA in our community. We believe with this milestone Harmony is set to be the first sharded Proof of Stake- validating that ETH2.0 which will come much later is technically viable and applicable. Of course, the transition might be challenging for our friends at the Ethereum foundation. The staking comes with the economic incentives- hence we have revised our Token Economic Model to make sense. Find more here. Instead of speaking, we would like to extend an invitation to Vite community to get their hands dirty and experiment with Open Staking in our Pangaea - our testnet- we have also bounties available.
Vite admin: Is Harmony the first PoS sharded blockchain into production?
Nikost – Harmony: I would dare to say that yes, Harmony is the first Sharded PoS blockchain. There is a great article by Blockchain Analyst Rohit Chatterjee featured on Harmony naming Harmony as the first sharded Pos blockchain on production. Check it here.
"Not only has Harmony’s achievement shown that it can be realized in practice, but it has also paved the way for Ethereum to implement a sharded and PoS-enabled blockchain, making blockchain enthusiasts confident that Eth 2.0 might see the light of day soon now."
Vite admin: Can we do a quick overview of what sharding is and how it applies to scalability in Harmony?
Nikost – Harmony: Sharding is an interesting way to optimize a blockchain. You don’t need to increase the throughput of the entire blockchain. You can have four blockchains that communicate well together to better manage the workload of the blockchain.
For example, when you come into Harmony and log into your account, it will exist on four or more shards at launch (e.g.: Shard 0 through Shard 3). If I have a balance of ONE token on Shard 1, I may not have any on Shard 0. If I send you tokens on Shard 1 you will see them on Shard 1, but may not see them on Shards 3 or 2. This is something a user should be aware of. When you log in, you have accounts on all Shards and can perform cross-sharding transactions; your address can exist across all Shards and may have different balances on each.
Vite admin: How can user engage with Harmony now?
Nikost – Harmony: In our roadmap with experimenting and providing feedback about Open Staking! We have $50,000 of $one reward for people to experiment with the network! it hasn't been announced yet, but I believe within the week we will release the full details on how to participate. You can engage with our community or subscribe to our announcements channel to get the latest updates.

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Community Q&A

Sonia (@Baby_Crypto): Does the Harmony team see Ethereum PoS as a competitive platform? What is the competitive strategy of the Harmony project after moving to PoS Ethereum?
Nikost – Harmony: Absolutely Ethereum 2.0 is going to be a competitor. Our comparative advantage is that we have launched much earlier than ETH2.0 and resolve some of the early vulnerabilities that every new blockchain architecture will experience during the early days. Of course, Ethereum is a great ecosystem and we are trying to participate actively- engaging with developers and build cross-chain bridges with the growing Ethereum ecosystem.
Machine Gun Kelly (@cailozma1900): Does the Harmony team have a plan to increase or decrease the supply? And how will that be done to manage the supply of Harmony?
Nikost – Harmony: The total supply will be recalculated when Open Staking will launch to include annual inflation staking rewards. We have worked carefully to design our token economy validated by research team Delphi Digital. Check it here.
Rekt X (@whosaidyourlegit): How can I set up a node?
Nikost – Harmony: We have set a guide on how to set up a note in out Open Staking testnet. Also, our tech ambassadors going by the name P-OPS are around in our community to help you connect.
Dun- Devloper NG (@DuncanTraynor): Let's leave aside all the hype a la "it's good, cause it's blockchain" and speak specifically. How Harmony tech can improve my life in terms of financial service?
Nikost – Harmony: We are focusing on developing economies and right now exploring the cross-fi market. This is a great article that we have published about Cross-fi.
Joy Ico (@Shan_is_real_king): What are the minimum requirements to build Harmony node? Can I use Ankr to deploy Harmony node?
Nikost – Harmony: Yeap you can use Ankr to deploy a Harmony node for Open Staking. Here are the steps to start operating a Harmony node. Technically you need the following requirements: Technical requirements: Minimum of 2 cores, 2G RAM, 50 GB (or more to be safe) hard drive. AWS t3. small or equivalent from other cloud provider.
SURI (@demono1): There are 3 common core issues in technology today: scalability, security, and interoperability, speed and privacy. So, how will Harmony solve these problems?
Nikost – Harmony: Here is our pitch- how Harmony is solving the blockchain quadrilemma https://harmony.one/keynote. For the last few years, the trilemma — decentralization vs scalability vs security — has sparked many advances in blockchain protocols.
To us, achieving all these characteristics is not an impossibility but an expansion of the triangle through great engineering. But, here, let me present the blockchain quadrilemma, adding the fourth critical dimension, privacy. I’d argue this pyramid will be one of the most important problems for our generation to solve in the coming decades: to understand what privacy means in terms of human rights, product design, and the digital economy. And, to build an open platform without sacrificing performance, without delegation to a central entity, and with verifiable security.
zafer metin (@zaferce): Harmony is among your recent plans: $10k transaction fees; $10m ONE staked; 100% uptime; 10 hires; important goals. How close are you to achieving these goals? Harmony is also very transparent in explaining her goals. This is an issue to be appreciated. How close are you to the realization of these goals? How will Harmony (ONE) shape the future? What kind of ecosystem do you plan?
Nikost – Harmony: You did a great job going through our 2020 Goals! Every week and monthly we update through Twitter about our goals. We share here also the updates. For those who are not familiar with our TEAM 2020 goals, this is a great resource to get you started.

The end of AMA. For more information about Harmony, please refer to Harmony Website. Special thanks to Nikolaos Kost for joining the AMA.

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