JSEcoin AMA Highlights Write Up
Thank you to ECXX for hosting the second AMA and everyone that turned up to ask questions. Here are some of the questions and our answers. It was a pretty hectic hour and we didn’t get around to answering everyone so we’ve put additional questions and our responses at the bottom of this post.
Hi guys, saw that your team is attending blockchain live, are you all announcing any new initiative?
Nothing specific at the event, we are there to network, look at opportunities and learn new things
Which types of advance feature jse platform services to its users?
We provide a whole ecosystem of tools built around helping webmasters monetise their content
How will the integration with chain link add value to jsecoin?
The value is in the utility and exposure. At the moment there are very few projects which have real world usage outside of speculative investments in the blockchain sector. By integrating with Chainlink it means our technology for bot detection can be pulled directly into a smart contract which opens up new possibilities. Also the exposure and PR from working with a top25 Crypto project is really good for us.
Will our pc hardware be impacted with jse mining? How much data does it take?
Using most devices it uses 5-10% of cpu which would otherwise be wasted
Can you explain shortly what web browser mining is?
Sure so mining is basically doing a math equation on data. Simplified it is:
My data + random number = hash
1) What are the Real world use-cases & utility of JSECOIN? 2) What do you think is the biggest problem JSECOIN will solve which is not solved by other projects yet and why is the problem important to solve?
The use case is that the coin powers the whole ecosystem. I think that the biggest problem that we solve is that blockchain is very damaging to the environment. Our ecosystem uses only excess resources, therefore we are in my opinion the most eco friendly blockchain.
What do you want to achieve in the next 2-3 years? Where can we see jse ecosystem in this period?
This is hard to say, the market is uncertain so the range of possibilities is big. I’d like for us to have significantly more traction and for the company to be profitable, sustainable and with a bigger team
What are the utilities of jse token in jse platform? Why should we invest in jse coin?
The JSE token forms the method of exchange which we use internally within our network. Most of the work we have done this year has been on expanding the ecosystem around the JSE token. I’ll give some examples:
– Ad-exchange uses JSE token for micropayments for digital advertising
– Merchant tools enables webmasters to accept crypto payments for products/services with JSE tokens being one of the options for payment
– Enterprise tools are premium APIs which are charged for in JSE. It was one of these Enterprise API’s that Chainlink worked with us on.
The idea is that all these things together will build long term usage and demand for the JSE token on exchange.
What are the competitors of JSECOIN ? How JSECOIN is better than their competitors ?
We are the largest browser miner with ~70% market share. Across our other tools there are lots of competitors but we are collecting the most data so I think that this is our advantage.
Is payment services are available for limited merchants only or any merchant website can implement JSEcoin as payment ?
Anyone can use our merchant tools
What are your plans to get adoption? How is the team serious about building jse? What’re the major plans for adoption?
We are quite lucky that because of the opt-in banner which has sign up affiliate links for the webmaster we actually get organic growth even in this market. There’s certainly more we could do however with a larger marketing budget. To accelerate growth we would need VC funding and then funnel some of those funds in to performance marketing campaigns to boost user numbers. Primarily this would be focused on our core niche of webmasters.
The main problem for using cryptocurrencies as payments is Price Fluctuation! so, How JSEcoin solves market Volatility problem ?
We cannot manage the price fluctuations, this is driven by supply and demand. We are not a stable coin so there will be fluctuations. We do have a buyback programme and we have open sourced the code for this that provides some level of support to the token.
What are the main sources of JSECoin revenue ?
Currently at the company level our main sources of revenue are fairly small at the moment. The merchant tools, ad exchange and enterprise solutions provide us with revenue and this will increase as we scale these up further
For mining purpose is jse require KYC ?
No, KYC regs were required for the ICO but general accounts don’t require photo ID etc. We do still have to comply with UK AML/KYC regs however and report any suspicious activity which could be money laundering.
How mining of any cryptocurrency can be done through Browsers while they are surfing internet ?
We vary the hash rate based on the available CPU supply meaning that it shouldn’t affect browsing at all. Less than 10% of CPU is used, hardly any data and altogether the resources the mining consumes is far less than your average autoplaying video ad. It’s also opt-in only so the user has to give consent before any of this happens via a click on opt-in banner.
Why users should invest in jse coin ? What are the features which differentiate jse from their competitors, what is jse’s greatest strength ? or JSEcoin has anything else beyond the payments ?
We have a whole ecosystem of tools built around webmasters primarily – our latest pitch deck helps explain https://jsecoin.com/pitchdeck.pdf
What’s the JSEcoin project’s main Vision ? what JSEcoin wants to do and what’s the next 12 months plan of JSEcoin ?
Our main vision is to help webmasters / publishers monetise their content. Whilst Helping bring eco friendly blockchain tech to as many people as possible.
How many people are currently registered in jse platform? do we need kyc to use jse platform?
We have over 160k registered users, you can track this love on our block explorer (on the stats tab) https://blockchain.jsecoin.com/#/Stats
What is your Monetary Policy? Inflationary? Deflationary? Fixed supply forever? What is your Fiscal Policy?
We have a max supply of 10bn, we will likely reduce this in future. We have a buyback programme where these will likely be added to the token burn in the future.
Currently, a significant issue that every blockchain face is scalability also ethereum is not much scalable presently As we know. How can JSE scale?
We have an internal blockchain that we use for most of the functionality of the project. We built out the ERC20 token because it allows users to transfer funds from the JSE blockchain to a 3rd party wallet, exchange etc. So effectively it is a gateway to other services rather than the technology that the project is based on. The reason we did this was at the time Ethereum was the only real option for token offerings and it allowed us to work with common platforms such as Metamask, myetherwallet etc. It is also much easier to get exchange listed with an ERC20 token than a custom blockchain. ECXX team is that still the case today? I know there are much more options now with Tron/EOS/BNB all being viable platforms now for new offerings. To go back to your original question no plans to develop another token or use another smart contract system at this time. The ethereum network is currently congested which increases our transaction costs for deposits/withdrawals by approx 10x from a month ago but it isn’t causing any major issues at this time. If it got a lot worse or it became difficult to actually get transactions through then obviously our hand would be forced to do something if Ethereum couldn’t solve the issue quickly.
What are the plans on expanding JSE captcha? Those minigames are amazing! 🙂
A number of things, such as getting our tools on SaaS ecosystems and approaching companies to use the tools. As many webmasters as possible using the tools will spread awareness, especially if people like using them (most people are fed up of traffic lights!)
How many coins were sold in preico in 2017-2018 period, bullrun period ? disclosed ot not ?
We publish monthly accounts, so everything has been disclosed
How much difficult is to implement JSEcoin’s ” PAY WITH JSE ” feature into website ?
Really simple here’s a screenshot of the setup process.
Can we use jse platform in mobile? Do you have any plans for mobile launching app?
We have a mobile app, Android only due to the App Store not being crypto friendly atm – you can download this from https://jsecoin.com/downloads/
In Which types of websites we can implement jse mining?
Most general websites/blogs are fine. Any website that has fake traffic/bots should be avoided as it will cause problems. Full terms are on the signup form which goes into more detail. Nothing illegal obviously. Any website where real users interest with the site. We do not allow bot traffic on the network.
JSEcoin was listed on ECXX at the end of June. Shall we have a new pairs soon also here in ECXX ??? JSE/ETH > > > JSE/BTC ???
No plans at present. There’s not much trading volume at the moment on any exchanges for us and most altcoin projects. Even Bitcoin volume is really low compared to historical averages. If markets pick up it’s something we could look at inline with demand.
Any company investor near-by?
As you know we are part of the google startup programme in London and we have been building our network within the ecosystem. This has meant that we’ve met many people that have raised funding recently. We are working on a few potential ways of raising money at the moment and when we have something to announce on this front we will.
I checks many mobile & browser mining software, where we can mine coins! But when i start browser mining then phone was heating up.
Yeah these are mainly background monero miners like coinhive. Our system is completely different in that it adjusts the hash rate based on the amount of CPU power available. The way we do this is run a small test and time how long it takes we then do a calculation to see if the browser has available CPU which isn’t being utilised or if it is currently being used. If there’s spare power available to the browser window then we increase the hash rate up to a fixed cap and if not we reduce it to nothing. This means that other than the optin notification your experience on a website shouldn’t be affected or disrupted in any way.
What are the major milestones JSECoin have achieved so far?
You can see these here https://jsecoin.com/en/timeline
About partnership with Chainlink – any estimated numbers $ this will bring to company monthly for development & marketing?
No estimates at this point. We continuously assess how best to use the company funds
Can we select usage in jse? how much normal website can earn if we implemented in website?
It’s dependent upon your level of traffic, the best way is to set the code up on your website!
Why you Came up With the name ‘JSE’ ?
Is there any major websites that implements JSECOIN’s services / Jsecoin’s api system or JSECOIN payments ?
We have some pretty big sites by volume of users and also there’s one network of sites that’s quite big. I can’t give out any details but if there are any publishers online it might be a good time to get a plug for your site in…
Did you consider to partner with a browser like e.g. BAT?
Do you have any plans to launching your own Browser or partnership with any browser project?
Not at this point
I see that websites who uses / implements web mining in their website ! usually my antivirus blocks that sites as malware ! so, how jsecoin mining prevent website blocking from antiviruses ?
We are whitelisted with the major antivirus companies. This is an ongoing process as we get bundled in to the same bag as hidden background miners. Normally if we can get in contact with a technical representative at the company we can get whitelisted as soon as they look at the project. It’s clearly not malware and is opt-in only so there’s no legitimate reason for the network to be blocked by default.
Any plans to hire additional hands for development in this year or any paid exchanges in this year?
If we raise more funding we will likely look to grow the team. On exchanges we will continue to negotiate, many charge a lot and do not add significant value.
If any country banned cryptocurrencies and crypto minings then how JSEcoin’s web mining works ? is it allowed web-mining in banned countries ?
That would depend on the jurisdiction. If banned then it’s unlikely people would want to earn coins.
We have the platform open globally however the ICO was restricted due to issues with accepting funds from countries such as US and China. There’s also the issue of KYC which we have to be aware of and if we for thought that money laundering or funding of terrorism was taking place then we would be obliged to report it and act in line with UK legislation.
AD VS MINING Which is the best way for website owner to choose? if they get huge income from ads then why they should choose jse?
You can just run the mining and use a third party advertising if desired, it’s up to the webmaster
I see there is lot’s of sings that are indicating a huge downturn in economics.. Globally and also in Europe.. How does JSEcoin prepare into this ?? Also is Brexit effecting your work ?? And is there any regulations in UK coming that might have some effect on JSEcoin??
We are a UK company but our network of customers and sites is worldwide. If anything Brexit has potentially been helpful for regulations, as the FCA want to keep London as a key finance and fintech hub, is the latest guidance on crypto is quite good for the industry
Why do think ecxx is best exchange for jse ?
The team have been helpful, transparent with all dealings and want to promote blockchain to everyone so we are happy to be onboard with the team. Exchanges can be difficult to deal with but ECXX have been very helpful and supportive.
How’s charity project going?
At the moment we have the charity account which people can donate to and use for testing [email protected]
Eventually I want to create a peer for peer voted distribution of these funds to registered charities but at the current time there’s very little market liquidity to so it’s not possible. We would need to get to a stage where it wouldn’t significantly affect the market price before we could work further on this.
Is website mining is supported in all devices ? even if gadgets/devices are outdated or old ?
Yes, for platform mining a raspberry pi will earn the same as a supercomputer
Is JSEcoin provides ADs services also for earnings to website owner or only web mining ?
Yes our browser mining is separated in to two pools.
Platform mining where a user logs in and mines while browsing the web. All proceeds go to user. Publisher mining where a webmaster puts the code on his website and his visitors carry out the mining process. All proceeds go to the webmaster.
Is website mining is supported in all devices ? even if gadgets/devices are outdated or old ?
Yeah we have a fallback function so if crypto.API isn’t available in older browsers it will still work. Only exception to this is Opera which uses Yandex.ru and they block us and don’t respond to our communications. For opera browsers the opt-in banner wont appear.
Thanks for your questions everyone, I hope those of you who are new to the project have a look and feel free to join us in our telegram to follow up with any questions… of course you can buy our tokens on ECXX!
And some questions we didn’t manage to answer in time
What technology stands behind JSECOIN and why it’s better than the existing one?
The code base is completely original and available at https://github.com/jsecoin
Compared to traditional PoW technology such as Bitcoin our network uses surplus resources within web browsers rather than huge electrical consumption from giant server farms. Our project is more niche focused as well with our targeted user base being website owners, developers and media buyers.
What are the main benefits users will get after joining jse platform? What are the highlights of jse platform compared to other platforms?
I think for general users there is zero fee transactions which makes things like micro-payments possible. We use this internally for the ad exchange to process small frequent transactions. There’s also the self-mining or platform mining page where users can earn a small amount of crypto to use and experiment with just by leaving a browser window open while they are doing something else on the web. For developers we have a rich API that they can build upon (https://developer.jsecoin.com). Website owners benefit from the browser mining, merchant tools and ad exchange.
Are you planning any collaboration with other companies (FinTech etc.)?
Yes we’ve already started to see more in this department with the MyEtherWallet and Chainlink integrations. This really falls under business development where there is lots of opportunity. I don’t like announcing anything until we are sure it’s going to happen or goes live however as the hype can sometimes be used to manipulate token pricing.
What are the feature that makes jse coin secure and risk free so that users can invest or hold jse?
There’s always risk when holding any digital assets. We do have a gateway to ERC20 token so users can either keep funds on the platform or withdraw them to a 3rd party wallet or hardware device. Certainly planning how to store crypto-assets is important and there isn’t a perfect solution at this time. I read the Bitcoin billionaires book in the summer and The Vinklevi brothers printed a couple of private keys split each into 3 parts and then personally destroyed all the equipment and put them in safety deposit boxes across the country. This is the extreme as they own 1% of BTC but multisig wallets, hardware wallets etc can all be used to make funds more secure and almost all are ERC20 compatible.
What we can do through JSECOIN ? Is it use for making payments or purchasing services online or what ? Or JSEcoin has anything else beyond the payments ?
There’s a lot that you can do using the web platform or apps even if you don’t have a website. For example one feature is the export of coincodes. You can export your funds as a alphanumeric code from your account. This code can then be imported back into your account or shared on social media and imported by the first person to find it. Here is one that’s live as of 24th September when this blog post went out: a6bc7989ca559d9fec92a622f6579456d15738fb72bf4d18fe6277efd90a4f0d
What are your plans with ad exchange? Any improvements there soon?
I think there’s a lot that we could still do to improve the ad exchange. We actually released some site quality/fraud updates earlier this month. There’s no major plans to overhaul anything but I’d expect continual development over the next 12 months and small incremental improvements.
Which type of Tools and services JSECOIN provides to Merchant ?
Merchants have “buy with crypto” payment buttons which are simple to use. There’s also advanced options for tracking and IPN updates. We also have a WordPress Woocommerce Payment gateway. Ideally we would like a payment gateway for shopify too but they aren’t accepting new merchants at this time.
As everyone knows for becoming a successful project in the crypto market two things you need
First is the project should solve mainstream problems
Second project needs interested community support and trust
My question is
1. How you would attract interested community, traders, holder to keep support jse ecosystem?
We have some organic growth from website owners seeing the opt-in banner on other websites. This could be accelerated with paid user acquisition via paid marketing channels but this would be dependant on further VC funding and somewhat of a recovery in markets and interest around cryptocurrency.
2. Which types of mainstream problems jse will solve in next 10 years?
10 years is a longer time frame than we have really considered to be honest. Our first long-term goal is to get into the top 100 cryptocurrencies. I think this will be important for investment due to exposure and index tracker type funds in 10 years time. The problem that we are solving is really the bridging of blockchain and web technologies. This can be broken down further to the monetization of website content, energy efficiencies in blockchain, facilitation of trade with cryptocurrency etc.
I just checked jsecoin’s captcha ! its like game and very easy than google captcha ! so, what are the plans of adoption of jsecoins services !!
The biggest thing we can do right now is develop a wordpress plugin for the captcha. This is something I expect to get completed in the next few months along with updates for the other wordpress plugins that we currently have. This isn’t something we can run paid advertising to because there isn’t a direct benefit to the project except further exposure. We do hope/expect that we will see some organic growth from the captcha and people discovering the project through it.
(also answers: Any captcha plugins for WordPress and others soon?)
What are the marketing strategies of your project? What will you do so that your project will be visible in crypto field and Community come to explore your project?
I think marketing is something we’ve been a bit slack on so far this year. After the ICO we stopped all paid advertising campaigns. During the bear market we found that these campaigns weren’t nearly as effective as they were during the pre-ICO campaigns in late 2017 bull market. Interest has dwindled in cryptocurrency and it’s become harder to convince webmasters that aren’t blockchain aware that this is something they should be looking at. Deflated token price has also contributed due to lower USD equivalent rewards for mining and holdings. I don’t believe that this will last forever though and when markets do recover we will start to turn our focus from purely development to look closer at marketing and business development opportunities ultimately targeting accelerated community and project growth.
I’ve been very happy about the tech.side and development of the project. Compared to other eco-friendly mining-platforms JSEcoin provides very great tools and options. Do you have any new openings or development in your vision?
There aren’t any paid openings and no one takes a salary from the company at present. However we are always looking for developers and help from anyone who would like to be involved. https://github.com/jsecoin is the open-source repository and the best place to start for developers.
Which are the next significant updates/events of jse?
A very visual update that’s coming is version 2 of the platform. This will affect the apps and the web platform as this will all be built from a single code source. This has been at a stage of 50% complete for some time and the designs look amazing however as the project has moved on quickly the v2 code base has lagged behind and now needs quite a bit of work and testing before release. We don’t have a fixed date for this but expect it will be included in one of the next major updates.
How can a person who has no website no knowledge about computer use jse coin?
Set up an account at https://platform.jsecoin.com then go to the mining page and leave it running for a bit while you go do something else. Come back and you should have some tokens to experiment with. This is a great way for non-technical users to start using crypto in a relatively risk-free environment.