Weekly Summary of PCHAIN AMA on 18/9/2018
We have finished the weekly AMA with Dr. Feng Cao on the telegram on Sep 18. Thank you for your participation and support. The following is the summary of the AMA.
Q1: Some people do not believe in your consensus algorithm and consider it a fake. Will you prove PCHAIN algorithm? Maybe make certified?
A1: We are applying our patent and will have a code review with an external 3rd party. We will grant them our code access after NDA. Regarding pdbft it was there and we achieved consensus globally from 200 nodes to 400 nodes to 1000 nodes step by step. It‘s concrete and solid.
Q2: Any updates about patents? Will the code be available for public this month?
A2: We don't have the open source plan this month. We are testing our network and preparing for testnet 2.0.
Q3: Any idea if PCHAIN is using address bound subchains like the ethereum sharding proposal?
A3: I don't think it similar to Etherum sharding we are multichain instead of single chain. This is a structure level difference.
Q4: How did you reduced to communication cost from O(N^2）to O(N) ?
A4: Generally it rely on signature compression.
Q5: What was the average block size when you reached the 120k+ tps?
A5: As we adopt multichain the blocksize are just normal size. the way to accelerate the tps are multi blocks generated in the same time. We can furthur tuning larger block to generate higher tps in real applications
Q6: How many years you are working on pdbft consensus?
A6: I worked in blockchain/consensus algorithm for 4 years. I worked in new algorithm design for 12 years. Regarding pdbft itself, it took me and my team around 8 month.
Q7: Any target date to release testnet 2.0? What is the new feature of testnet 2.0?
A7: Around the end of Nov, we hope the Junction Digital Nation Hackthon can use our testnet 2.0 directly. The new feature of testnet 2.0 is not finalized.
Q8: Does the team have the idea to simplify the programming of smart contracts? Maybe make a visual editor?
A8: Definitely yes. In addition, we are collaborating with security team to build a safer complier to automatically detect some existing bugs of smart contract.
Q9: All major companies that develop tech like microsoft, apple etc, they even develop big apps on their OS to get started and show what their product can do. Do you plan to develop daap on PCHAIN in the future to show the world how good PCHAIN really is?
A9: In fact, our partners have already done a lot of DApp in mobile, eg in our testnet launch event, UDap show their Dapp on mobile working very well in our testnet.
Q10: Do you use Graphene (or similar) technology to lighten the weight of your transactions?
A10: We have some aggressive plan eg to design new state merkle tree structures, to create lightweight block structure to facilitate the interoperability between child chains and main chain.
Q11: Could you detail the exact release of the totality of the tokens in what dates, where will they be allocated and what will be their uses, since it represents 65% of the total circulating and I don't see that it has been detailed in your Whitepaper.
A11: 65% includes POS mining, foundation and team. Currently, all of them are locked as the top 3 address in PCHAIN ERC20 contract.
Q12: There is lack of understanding, of what these smart contract platforms can really solve. Any thoughts on how you gonna address that? I would love to see some basic solidity templates/videos, so that i can get and set data through my own website.
A12: If you take the coin/token as money, you can regard smart contract as an executable contract with your biz partner. In near future, we may no longer sign the contract with our partner in paper. We can simply sign a smart contract and more important thing is this contract will execute automatically by pre defined conditions. Through these contract, all our biz model and economic will be changed. it will be more efficient and globalized.
Q13: Now Ethereum are changing from EVM to eWASM, how will this impact on your plan for PCHAIN?
A13: Not too much, you will see it takes time.
Q14: Do you still plan to use EVM even though it will no longer be used?
A14: I don’t think it will change suddenly in most of the cases, etherum will keep it compatible with EVM. Otherwise, it will introduce great trouble, eg. to all existing ERC20 tokens.
Q15: If business partners want to make changes to a smart contract, how do they do it?
A15: It will change graduately just as e-commerce changed our life.
Q16: So you are splitting up the network into "areas" by childchain and have nodes dedicated to each area? --> Therefore you can multiply the total throughput of the network by the number of areas. --> If you had 120tps before (because one node could only handle 120tps) then you split the network into 1k areas, each area could do 120tps and you would get a total tps of 120k in the network because nodes can send transactions between them?
A16: Correct, this is a basic idea. The hardest part is how to make them collaboration/interoperable.
Q17: When you think established businesses will built with PCHAIN? Direct after mainnet launch, or a few months later?
A17: We already built our biz on PCHAIN with our partners and we are also planning several Enterprise applications ourselves.
Q18: Do you think you're in direct competition with other up and coming blockchains (quarkchain, zilliqa, etc)? How do you see the process of PCHAIN's adoption by businesses/people? Do you plan to reach out to them and offer your services or do you expect that they'll come to you?
A18: Every blockchain has great opportunity as the blockchain era is in very early stage. we haven’t found the “google, amazon, facebook and uber” in blockchain space.
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Thank you for reading!
PCHAIN will hold AMA with Dr. Feng Cao on telegram every Tuesday from 10 pm to 11 pm (Singapore time). See you next week!
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Founder/CEO’s Twitter: https://twitter.com/jeff_fengcao