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

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

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

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

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.

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

@maximuskm yes?

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

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

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.

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.

Vite useful resources:

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

On 07 Jan 2020, Vite welcome the special guest Ryan Fang, COO – Co-founder at Ankr joining an AMA with the community at Telegram

About Ankr
Ankr has built a globally distributed computing network that leverages idle cloud resources in data centers and edge devices. The Ankr platform is connected to top-end specification servers, hosted from data centers owned by some of the largest companies on the planet, to provide the highest quality to the Ankr nodes.
With technologies like Kubernetes and Docker containers, Ankr is making the new cloud cost-effective, easy to use, more secure, and more eco-friendly.
Useful links
• Website: https://www.ankr.com/
• Twitter: https://twitter.com/ankr
• Telegram announcements: https://t.me/anrknetworkann
• Telegram chat: https://t.me/ankrnetwork
• LinkedIn: https://www.linkedin.com/company/ankr/
• Discord support channel: https://discord.gg/kFETwMD
• Instagram: https://www.instagram.com/ankr_cloud/

Here is the summary of the Telegram AMA.

Vite admin: Welcome Ryan, pleasure to have you here, can you introduce yourself?
Ryan Fang: I am Ryan Fang, Co-founder, and COO of Ankr. I have a background as an entrepreneur and data scientist, and experience as an investment bank analyst at Morgan Stanley, Credit Suisse, and China renaissance. We are quite connected in the blockchain space all over the world and met many blockchain founders during our journey which started in 2018.
Vite admin: Since the inception of the Ankr project in 2018, it looks like you have shifted towards a pragmatic business solution, which contains real-world products that end-users can already utilize. Can you tell us a bit more about your current focus and the business model of Ankr?
Ryan Fang: In the beginning, as a project, we designed everything conceptually; how do we see the platform working from a computer-science perspective. But gradually as we began to implement more and more features it was apparent that pragmatism and common business sense would need to prevail if we were to build a platform that would attract both cloud users and large-scale resource providers. We, therefore, adopted our proposed technical solutions to fit something more engaging, scalable, and economically viable. In short, we realized our investors would rather be backing a lucrative, practical business than a computer science project. We never get wedded to our ideas! The most important thing is to always be prepared to adapt and change direction if it is clearly the best approach.
Vite admin: There have been many developments by the Ankr team in 2019. The mainnet launched in July, together with the distributed cloud computing platform, which includes a desktop wallet and the App Store for node hosting applications. Can you tell us more about the functionalities and usage of the Ankr cloud platform?
Ryan Fang: First, our distributed cloud computing platform is built for real-world usage. Initially, it is focused on enterprise customers, high profile blockchain companies, like Vite, and end-users who want to run nodes for app development or staking. The best thing is that the platform already being used now. We have released 20+ blockchain node hosting applications and are in the process of finalizing the integration of another 20+ high-profile blockchains. Some of these blockchain companies will host their nodes on the Ankr cloud, and others will promote our application to their communities as the preferred platform for easily hosting a node at favorable prices. This is also interesting for community members who want to run a Vite node! You can find our platform at app.ankr.com.
Vite admin: Ankr is launching a stream of blockchain nodes hosting applications, such as Vite, Harmony, Matic, Cosmos, TomoChain, Zilliqa, and many others, to host their nodes on the Ankr cloud or provide affordable and easy node hosting to their communities. What are the benefits for these blockchain companies in using the Ankr network?
Ryan Fang: So first, I was quite shocked to recently learn that over 95% of public blockchain companies are still hosting the many of their nodes on centralized public cloud providers, such as AWS and Azure. The centralized nature of these services makes them subject to a single point of failure. Like Ethereum, 60% of Ethereum nodes are hosted on the top 10 public clouds, while 34% of these nodes are hosted on centralized servers in the US! There is simply no single public cloud provider that can achieve geo-distributed availability zones for node hosting. Next to the single point of failure issue, aspiring blockchain node hosts are also usually held back by the high pricing and poor user experience of existing cloud services. Current cloud services and their support teams are not very blockchain-friendly, and it might require a lot of time and knowledge to configure and manage a blockchain node, some of you might have experienced this in the past while setting up a node for a blockchain for the first time. So, with Ankr, our solution takes away these struggles and aims to facilitate blockchain adoption to a broader crowd. We expect to onboard many more public blockchain companies onto the Ankr Cloud, which will make us one of the very few blockchain-based companies to generate real-world revenues.
Vite admin: What are your plans to ensure enough idle resources for all these blockchain companies who are signing up to host their nodes on Ankr? And how will resource providers benefit from the Ankr business model?
Ryan Fang: So, it is very important to be aware of the problem current data centers in the market are struggling with. Due to the highly inflexible data center model, existing data centers can be very slow to deploy, the costs press heavy on the Capex of the company and they utilize an average of only less than 40% of their capacity, which is not very cost-efficient or eco-friendly. It is estimated that more than 10 million physical servers around the world are not even being utilized at all. Also, public cloud giants like AWS and Microsoft Azure are driving small cloud providers and data centers out of business. Ankr provides a solution for both ends of the market, which is based on the sharing economy model. We aim to balance the equation by monetizing idle resources and providing them at affordable prices to end-users. To ensure that every customer of our cloud network can carry out the tasks they signed up for, we are always working to add more data centers and their idle resources to the current list of data providers. We are already working with reputed enterprises such as Telecom giant Telefonica, DigitalOcean, and BCP, which own some of the high-end data centers that are connected to our cloud network. We are in talks with some very large companies around the globe to add to our footprint and are always looking for more data-centers to grow our network. So, as mentioned in the whitepaper, the Ankr revenue model is based on transaction fees of our cloud platform, which is basically a percentage of every deal. The platform transaction fee is made up of 3 parts: a fee paid to the resource provider, a fee paid to the Application provider (in case this is not Ankr), and finally, also a fee paid to Ankr. Our future staking model for Ankr tokens will be based on the revenues generated by the Ankr platform. By bringing more public chain nodes onto the Ankr cloud we are generating a steady revenue stream, which will automatically serve to bring value to the Ankr token. As a key element of this model is the direct correlation of the staking rewards to revenues generated on the Ankr platform, meaning that increased revenues lead to a higher staking reward pool. This is really the only way for us to provide a sustainable and long-term business model and bring intrinsic value to the Ankr token.
Vite admin: And follow-up the partnership, what will Ankr offer for Vite in their node hosting application and how can we and our community utilize this blockchain-friendly and affordable solution?
Ryan Fang: This is the interesting part. We have been very busy building and testing all these node hosting apps before bringing them to the market. So, for Vite, we have built 2 applications. These applications are available in our cloud platform and can be used by anyone, paying for the service in Ankr tokens. One to run a full node and one to run a Supernode (the SBP). One to run a full node and one to run a Supernode (the SBP). As we know about the hard fork of Vite, there have been some changes, I guess. As mentioned before, to spark adoption, but also to check once more if the applications are running like the community desires them to run, we have decided to grant 5 rewards of 200 USD to the first users who deploy a Vite Supernode on the Ankr app and return their test results to us. Because we build these applications for the community and really want to be sure that we cater to all their needs. We have a large team of engineers working overtime to optimize these apps and we are flexible enough to consider the wants and needs of our potential end-users. What they can expect is an easy to deploy and affordable way to run a node for their favorite blockchain project, which in this case is of course Vite! Instead of studying all the documentation and deploying the node on an expensive and centralized public cloud server.

Community Q&A

@Hg144: Ankr has cooperated with many good partners such as Lition, hyper ledger, Zilliqa ... So what are the benefits that partners bring to Ankr?
Ryan Fang: This is a very good question. So, the answer lies already partly in what we have just been discussing. Ankr and Vite have partnered with the goal to strengthen each other’s ecosystem. In this case, there are even multiple angles served:

1. Ankr token is listed on ViteX to give us even more availability, also on a decentralized exchange.
2. Ankr built applications to host Vite nodes. Our collaboration with Vite will make sure that the apps work properly and cater to the needs of the community.
3. Both our communities will contain potential users, which we can easily reach by working together.
4. Ankr provides an easy solution for people who want to contribute to the Vite network and this also contributes to further strengthening and decentralizing the Vite network.

@CallMeBaby012345: How would you introduce the concept to people who have not heard of ANKR before?
Ryan Fang: We like to use the analogy of the widely known sharing economy companies, such as Uber and Airbnb who also make their resources (in these case houses and cars) available at a fairer price and in an easy way (with the app). Now it is time to bring even more resources to the global sharing economy! We like to use the analogy of the widely known sharing economy companies, such as Uber and Airbnb who also make their resources (in these case houses and cars) available at a fairer price and in an easy way (with the app). Now it is time to bring even more resources to the global sharing economy! So, if you look at the blockchain space, many see projects such as Golem, IExec, and SONM as our main competitors in this space. The main difference with them is that they focus more on compute power generated by regular PC’s, as we are focusing on both retail users as large enterprises and resources from their worldwide data centers. So, we like to look more at public cloud providers (AWS, Azure, etc) which offer centralized servers and are not very blockchain-friendly. Moreover, they’ve to are very expensive to use. Also, don't forget that Ankr provides an eco-friendlier solution as it utilizes idle resources instead of adding more resources to the global footprint.

@Mission2000: What is the reward distribution scheme for Ankr stakeholding? What future developments would you expect would be most appealing to larger institutions
Ryan Fang: Next to global giants like Amazon AWS, Microsoft Azure and IBM Cloud, new solutions are emerging which leverage the use of blockchain and other distributed technologies to provide cheaper and more secure services to businesses around the globe. Moreover, this market presents incredible opportunities for us to grow our user-base and even just a small market share of this would represent tremendous growth for Ankr.
@Nuhollic: How do you secure the Ankr cloud platform? Can external attacks (hacking attacks, phishing, identity theft, etc.) enter the Ankr cloud system? Can it change or destroy data? What procedures does Ankr's security team implement in case of potential security issues?
Ryan Fang: Ankr ensures apps utilize the latest version of Docker containers that carry with them up-to-date security patches. Containers are segregated within a host using namespaces; it is not possible for containers to communicate between namespaces at all, even when on the same host.
@Nuhollic: The Lition project will use the Ankr cloud platform. How do you evaluate this? What advantages does Ankr provide to the projects that will use the cloud platform? What do new partnerships mean to Ankr?

Ryan Fang: We provide the same advantages to other public blockchain projects as we do to Vite, which were explained above. Also, for Lition we will provide the node hosting app and work together on adoption within our mutual communities to grow both our ecosystems and strengthen and decentralize their network.
@NO4M3: When you looking back on 2019, what did the ANKR achieve? Which steps are you most proud of? Can you tell us about your important steps in 2020? Q2: 8th of October 2019, ANKR announced Vite partnership. How ANKR and Vite, both sides BENEFIT to this collaboration? What is the importance of it?
Ryan Fang: Thank you, same to you, and all Vite community members! Q1: you can find an overview of our 2019 achievements on our Medium blog. I am most of all very proud that we have completed so many achievements, on the technical and business development front. We have some great partners who help grow our ecosystem, are listed on the top exchanges in the space, but most of all the release of our mainnet and the Ankr cloud platform are what matter most. I want to sincerely thank our team for having made this possible!

For more information about Ankr, please refer to Ankr website: ankr.com. Special thanks to Ryan Fang for joining the AMA.

Vite useful resources:

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

On 20 Feb 2020, Vite welcome the special guests, Martin and Kushti at Ergo joining an AMA with the community at Telegram

About Ergo
ERGO is designed for mass adoption. Its efficient blockchain protocol will allow it to be widely used while still remaining friendly to application protocols thanks to its unique transaction language

Useful link
Twitter: http://twitter.com/ergoplatformorg
Website: https://ergoplatform.org/en/
Resource: https://github.com/ergoplatform/awesome-ergo
Telegram: https://t.me/ergoplatform

Here is the AMA summary

Vite admin: Welcome to the AMA. Martin and Kushti, please introduce yourself?
Martin: Hello guys, Martin here, I am a community member in Ergo from day 1, fan POW cryptocurrency and fan of its next-generation ten years later. I will try to answer some questions from a little different angle, I hope.
Kushti: Hi folks! I'm kushti, core dev of Ergo, who was the core dev of NXT, co-founder of smartcontract.com (known as ChainLink), and the research fellow at IOHK! This is my publication.
Vite admin: Thank you! Let’s get started by introducing Ergo in a nutshell to us!
Kushti: Ergo is a Defi and crypto contracts platform that takes a radically different approach to smart contracts than other networks. The Ergo platform is based on Bitcoin wherever possible, ensuring a high degree of security and retaining core features proven by a decade of used (for example, it’s a PoW network with limited coin supply, and the first mining pools are now being launched). But our team has drawn on many years of experience of core development for other crypto projects (Nxt, Waves, Chainlink), as well as extensive peer-reviewed academic research, to create something truly unique.
Ergo enables use cases that would be impossible, risky, or expensive with other platforms. We do this with Sigma protocols, powerful cryptography that allows very flexible and elegant coding of wide-ranging functionality, including off-the-peg use of ring and threshold signatures – great for privacy applications, such as our forthcoming trustless mixer. We also have a DEX on the way and a small but active and growing community building their own dApps. Ergo is listed on Vite since September 2019, and we would like to say that this is a good exchange!
Vite admin: Why is it good to hold Ergo tokens? What is your strategy to benefit investors and holders?
Kushti: Ergo's native token is Proof-of-Work cryptocurrency with a limited supply cap and improved soft-forkability to avoid hard forks. Thus it has token mechanics similar to Bitcoin's. But Ergo also has storage rent to stabilize mining rewards after emissions are done, thus in the long-term, it has even better plans on how to survive.
Vite admin: Please let us know how big was the crowd-fundraising? Is premise exists? What about VC funding back ERGO Platform?
Kushti: There was no ICO or premine, neither VC funding. It is a community project. For funding development and promotion during early days, there is a Development Fund gradually releasing about 4.3% of total supply within first 2.5 years. The total supply will be emitted in 8 years, it is a PoW cryptocurrency. Total supply is ~98M Ergs. Dev Fund is just 4.3M.
Martin: Ergo’s short emission schedule is made possible through its new economic model, namely, the storage rent fee component of its protocol.
Vite admin: DeFi is one of the hottest topics in the blockchain space right now I can tell. So, let's talk a bit about your opinion about DeFi? Do you think that DeFi will disrupt the existing financial system?And finally, what is ERGO approach towards the DeFi sector?
Martin: Other benefits from having the storage rent fee include prevention of “state bloat”, building of an economy around state (users must pay to keep unspent boxes in miners’ memory for the long‐term) and a gradual return of any lost coins back into circulation.
Kushti: Still a lot of things to get done to understand and improve DeFi. The problem with current solutions is admin keys, centralized UI, control from certain parties over protocols, etc.
Ergo is focused on non-custodial DeFi. The perfect example is crowdfunding campaign we did: you just create a coin with a certain contract and then project can collect your coin if the crowdfunding contract conditions are met. And you create your coin with your wallet just.
Another way to improve DeFi is community finance, \provides the ability to boost economic activity without collaterals. Ergo devs presented some example contracts in regards to that, such as a mutual credit system, but no applications developed yet. Contributors welcome!
Vite admin: Mimblewimble or Privacy coins are in a lot of news and press release, a commonly discussed topic recently, from your perspective as the core team, what is Ergo's approach towards the privacy?
Kushti: Ergo is not a privacy coin, but if Ethereum is called a "decentralized world computer", then Ergo is a "decentralized world crypto-computer" as it has generic and flexible support for a variety of cryptographic protocols to be built on top of it. As an immediate application, Ergo community members discovered ErgoMix, a next-generation mixer, simple, non-custodial (so no risks for operators and also users to get arrested or have the money lost), and non-interactive (so more secure). More schemes will be discovered in the future, due to the flexibility of Ergo's generic approach. And, Ergo's approach is efficient and secure, sigma-protocols (aka Generalized Schnorr Proofs) are known since the 90s, they're efficient and well-studied so secure. But Ergo for the first time brought their power into smart contract languages!

Martin: For example, we can do threshold signature in Ergo (e.g. 2-out-of-3) which is preserving zero-knowledge, unlike multisig in Bitcoin: by observing a signature not possible to know these 2 guys who signed (only the ring of 3 is known)
Vite admin: I must say that there are many strong developing projects, so why should we choose ERGO and not others? What in ERGO makes you more confident than other projects?
Kushti: Ergo is based on solid research done but the team and not only. But it's not a professor coin disconnected from reality; it is an engineer coin. On other hands, we're using solid methods and very careful about everything. As a result, we have a powerful, secure, and generic platform. Also, this is a community-based project, so no ICO- or VC-funding related issues. Ergo's focus is on the long-term!
Martin: Many things are also possible thanks to new block construct https://www.ergoforum.org/t/ergo-terminology-a-box-and-a-register/32
Vite admin: And from my pov, we have seen many of the project team members desert the team/ project for some unknown reasons. Hope it won't be, but let's see how you can ensure that your core team members will remain committed to this project?
Kushti: The difference with Ergo is that Ergo mainnet has already been launched. Ergo is a finished product! Not like other projects which still need upgrades or countless other changes. Ergo mainnet is already running and any developer or team can build DAPPS on top of Ergo now, not at some promised time in the future. And our core team is getting bigger and more decentralized over time, and that's the key to success, I guess.
Vite admin: I am eager to know that as an enthusiast, how can he contribute to ERGO?
Kushti: Please join the Ergo community to help with development and promotion! Our Telegram: @ergoplatform, Discord: https://discord.gg/yCsnmyu, Twitter: https://twitter.com/ergoplatformorg. Everything is transparent! After some time spent in the community, it is possible to get into Dev Fund board even to controls spending of the Fund.
Martin: Thee is community-driven foundation https://ergoplatform.org/en/foundation/

Section 2: Community Q&A
@endtimeprophet: As a developer I Know SOLIDITY and solidity +, Java C, can I build dApps on ERGO and what are the modalities involved. How do you seek to convince developers to switch to ergo for building dapps? What's your competitive advantage?
Kushti: ErgoScript is a simple programming language which is basically a small subset of Scala (like modern Java also). Now we also have the tooling to write contracts in a small subset of Scala, with your favorite IDE (like Intellij Idea), and also have formal verification (via Stainless tool). Articles are coming on that!
@toanphamhd: On moving forward through your roadmap, what are your most important next priorities? Does ERGO team have enough fundamental (Funds, Community, ect) to achieve those milestones?
Kushti: Good questions! Ergo Foundation has considered some minimal plan for 2020 recently https://ergoplatform.org/en/blog/2020_02_02/, but some external contributors and teams also working on some projects, so likely we'll have more than in the plan). Minimal plan is bout wallets with support for (real) ring/threshold signatures, mixer, DEX, non-custodial crowdfunding.
Martin: Without scrolling, last questions is pretty good - The very basic one is that native currency ERG is working as the transaction fees AND storage fees to miners, providing the same incentive for miners even after emission ends, thanks to own economy model. Next very unique one is a contribution to non-interactive and non-custodial DeFi, years of research were put into improving Bitcoin design here, so we have more advanced and more powerful scripting with privacy in mind, advanced proof-of-work, support for tokens, more advanced fees, soft forking approach, miners can change parameters like block size etc on their own, so it is also self-amendable protocol at the same time built with survivability in mind what is important as for digital commodity and cash guarantees.
@fafafifi_cret: There are 4 core issues prevalent in crypto and blockchain: Excessive Volatility, Security, Scalability and Interoperability. How do you plan to overcome these issues?
Kushti: Good observation! We have considered second and third things most seriously. In regards with security, we always tried to used simplest and well-studied approach, otherwise, to cover a new approach with a published paper and a lot of testing. We considered some things seriously other projects are fixing after attacks only, e.g. spammy contracts (causing "verifier's dilemma").
For scalability, Ergo for the first time in the space has stateless clients, so there are full nodes running on Raspberry Pi with just 256 mb RAM given! Also Ergo has support for ultra-efficient SPV clients for better security on mobile devices, and so on. TPS limit is not a question in Ergo as miners can gradually increase block size via coting.
For interoperability, we have some space left in the protocol to fill in 2021.
For volatility, we already have some stablecoin contracts, now applications are needed. Please note that token mechanics in Ergo makes stablecoins not contradicting with the native token! Native token always has utility, it is being used to pay for storage rent!
@JP_Morgan_Chase: The consensus protocol of Ergo is Autolykos- A proof of work-based Consensus algorithm! Why did you choose PoW consensus Algorithms instead of PoS or any other consensus?
Martin: Above solid and proved POW guarantees as for security, POW is great for building stateless clients while POS not so much what brings services decentralization. Ergo has also NiPoPoW support built in https://nipopows.com
@BATchriscal: How does Ergo handle the issue of negativity when the price is falling ? Also, what are your plans to grow and strengthen a product-oriented, not price-oriented community? Finally, what is the main motivation and energy that you can give to Ergo holders for the long-term?
Kushti: Good question! Ergo was launched in the middle of the crypto winter, so it is already going through harsh times which were killed some other projects. Ergo has survived, it is developing, and as the protocol is set in stone there's no fatal threat to it. Then limited-supply PoW token mechanics and enhanced capabilities should help Ergo to grow organically and overcome projects which are similar but not so powerful, such as RavenCoin or Bitcoin Cash.

@mikurana: Can you list 1-2 killer features of $Ergo that make it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Kushti:

1. Flexible and generic support for a variety of crypto protocols. As a result, ring/threshold signatures for free, mixing, in future private auctions and other protocols
2. contracts in the extended UTXO model. Simple, secure, Lightning network-friendly also (but we can do other L2 solutions, preliminary research shows we can do things like FastSwap/FairSwap protocols). Cardano is still implementing it, Ergo already have!
3. Stateless clients, ultra-efficient SPV clients and other means to survive in the long-term even under the load (with enough full-nodes in the network)
4. Storage rent to prevent spam & dust and stabilize mining income

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

Vite useful resources:

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

@Arturo The compulsory staking amount is 10k VITE. If you stake 50k but run only 1 fullnode, you only receive rewards uptime for 1 node only.
Details: https://medium.com/vitelabs/announcement-upgrade-of-full-node-reward-2dead168f618

@Eric Hi Eric, the rewards for running Fullnode is still avaiable. There is no end date yet. If you want to run a Fullnode and have our dev help, please join our Discord https://discord.gg/P53vtVb
Video tutorial from a Vite fan: https://youtu.be/PauorjAXAds
How to create: https://vite.wiki/tutorial/rule/fullnode.html#reward-program-details