DxChain AMA highlight 05/22/2019
Hi DxChain Community,
As DxChain Testnet 3.0 is about to be launched, we are glad to see more and more technology and blockchain enthusiasts join the DxChain global community!
We hope the AMA session every two weeks can deepen your understanding of DxChain project progress and concept.
Please refer down below the AMA highlight yesterday, we appreciate every question from our community members:
1. What are all the ways available to gain points?
There are 3 ways to earn community points right now:
The first is to join in the Wednesday Q&A Challenge. The bot will randomly select 30 winners from participants who answer the question correctly. It’s a good chance to know more about DxChain!
The second is to raise questions for the Bi-weekly AMA. The most 3 constructive questions raised about DxChain project (regarding DxChain technology and development) in the AMA session will be awarded by 3,000 community points each.
The third is join in the DxChain Community Ambassador Program. If you are selected as our ambassador, you will earn twice rewards for any other events during your tenure.
Welcome to check more details here: https://blog.dxchain.com/dxchain-community-ambassador-program/
More events are around the corner!
2. Is DxChain using PoS or PoW?
The current DxChain Testnet 2.0 uses PoW + PoST for the consensus protocol.
In the next version of DxChain project, the consensus protocol is designed as a plugin of the system. And we are considering DPoS + PoST as the major algorithms in the Mainnet alpha, and run all the other consensus protocols(PoW, PoA, VRF...) in different Testnets to find out the most suitable and efficient solution.
3. The Bitcoin and ETH are up since last week, why DX price is still low?
Actually the Bitcoin’s soar last week caused almost all altcoins suffered for a while, including ETH. As I just said, the price fluctuations in crypto were normal and difficult to predict. Too much focus on price cannot help the project grow.
4. What’s the implication of DxChain Testnet 2.0?
There are several important implications for the combination of DxChain Testnet 2.0 smart contracts and storage contracts:
The original storage contract only supports automated contract renew and money distribution. However, by combining it with the smart contract, more features can be implemented. Any developer can add features and create new products accordingly without modifying the source code.
Based on our testing, the smart contract feature we developed in Testnet 2.0 is 100% compatible with the Ethereum Virtual Machine, that means for any DApps running on the Ethereum can directly run on the DxChain as well. It saves developers tons of time on solving issues occurred while migrating the application from Ethereum to DxChain.
The current Ethereum smart contract cannot be used for storage transactions or applications. Even though the Swarm, a distributed storage platform, is developed based on the Ethereum, it is highly unstable. The smart contract developed by DxChain can be fully combined with the storage contract, adding more flexibility to the original storage contract and making the off-chain storage operations more efficient.
Currently, most distributed applications are developed based on Solidity. Learning and using a new language to develop smart contracts will greatly increase development costs. By adding the smart contract feature, developers can easily build DApps without learning any new materials.
5. What’s the circulation right now?
We have just finished the community bounty token yesterday, the DX circulating supply is 36,325,346,450 DX (36.33% of the total supply).
More details about lockup plans can be found here: https://medium.com/dxchainglobal/dxchain-dx-token-distribution-and-circulation-updates-for-february-2019-ec022dfc7d01