PCHAIN & Bihu AMA Summary
It is honored to join Bihu AMA. Thank you for your participation and support. The following is PCHAIN summary of this AMA.
Q1: How to break through the current pattern of public chain for PCHAIN in the future?
A1: Currently, we take the high TPS, Sharding and cross chain as the pattern, which are in the beginning process of development. I think the key way to break through that is the innovative tech and blockchain applications, making more people realize the value of PCHAIN. PCHAIN is more popular overseas than in China and many community channels were created by community members. This year, we focused on the Chinese market. We really hope more cooperation with good developers, DApp teams, ecosystem teams, etc. to jointly promote PCHAIN tech, which will attract more people to recognize the value of PCHAIN and realize blockchain applications.
Q2: Sharding, layered, and cross-chain are the three future solutions for high-performance blockchains. PChain is currently at which direction? And what are the main reasons for taking this direction?
A2: We still keep working on all of them. For the high-performance, PCHAIN can reach over 180,000 TPS with 1064 nodes globally. Currently, PCHAIN team take more efforts on the Sharding, generating more child chains to expand the related features.
Q3：What about the application landing direction for PCHAIN?
A3: We will create DApps based on PCHAIN or implement some projects with the cross-chain technology. By now, you can token swap directly via PIWallet. Swap is in half-centralized way now while it will be optimized to be totally decentralized in the near future.
Q4: Pchain have any solution to protect our data from big SM corporations like Facebook, Google, Snapchat, etc? Any solution? I was just asking casually, nowadays Facebook, Google is selling our personal data for their own benefits
A4: Recently, we found that many projects and web crawlers met this kind of pressure, which was affected by the traditional finance industry. Whatever, people will take more care of the privacy and the data ownership,especially in China. More new laws are enacted in Europe, so the data ownership will be one of the most interesting direction for blockchain development in the future, as well as for the strategy of PCHAIN Smart Data. When I began to startup in 2016, I publish one article named “Blockchain will reconstruct big data，changing the world!”(区块链重构大数据，改变一切). In the future, more and more data will be generated on the chain, which protect the ownership well. These kind of data on blockchain will have good affect on the privacy calculus，value creation and changing the situation about abuse of user data by large Internet companies, which is also the important direction for PCHAIN Smart Data development.
Q5：What about the commercial application landing on child chains?
A5: PCHAIN launched the first commercial chain for Qiang Sheng Smart-e in 1Q, supporting travel participants with decentralized, transparent, traceable, non-changeable, point-to-point transmission based vehicles’ and drivers’ data and ensuring the data security. We will launch another new commercial collaboration with the intelligent terminal service provider covering over billions users scenario. This new collaboration will become an important integration of PCHAIN with IoT and Edge Computing.
Q6: Hello. At the current price of the token, it is not economically profitable to have a node. Many nodes can be stopped and this will damage decentralization. What will you do to prevent this from happening?
A6:For PCHAIN price, there is a process of value recognition. We believe that more people will recognize the value of PCHAIN and raise the price.
In another aspect, the cost of running a node on PCHAIN is cheaper than other public chains. It costs $77 per month on average. A few days ago, you may find that operation cost was a bit higher than before caused by the big data storage. But we released the solution with Data Reduction very soon, which greatly reduced the incremental data storage and the costs. After the National Day, we will upgrade Data Reduction.
For the worries about decentralization, actually it’s not as much serious as you think. We announced that we won’t be able to guarantee the validator positions for the semi-annual super nodes at the end of Epoch 5 as it’s the rules of super nodes, then lots of the third parties came to apply for the Candidates and more nodes will join in next Epochs. Meanwhile, running nodes on PCHAIN can greatly improve people’s recognition for PCHAIN innovative tech.
Q7：What do you think about the public chain ecosystem and the cross chain ecosystem?
A7: In traditional public chain ecosystem, there are nodes, DApp, miners and believers. Cross chain ecosystem need to create the child chains or parallel chains to cross different chains. In my opinion, public chain ecosystem and cross chain ecosystem will coexist in the future. Obviously，PCHAIN is public chain while it has the feature of cross chain. Also, PCHAIN can be one of the child chains on another cross-chain project. When cross-chain project with many child chains become the child chain of PCHAIN, PCHAIN is a cross-chain project as well. So I think the super-hot cross chain deliver more imaginary space for us to develop.
Q8: Is it not necessary to establish the public chain ecosystem if cross-chain ecosystem established well?
A8: I think the two ecosystems aren’t completely contradictory.The cross chain ecosystem can linkup different chains well and balance the load. But if each chain is not good enough, then there is no point to cross chain. Thus, for the single chain, it’s necessary to make it excellent through the tech. Although the development of public chain is in the beginning process, we must take advantage of one best aspect to be the leading one in the blockchain market.
Q9：Does PCHAIN have the offical APP for the wallet?
A9: The wallet App is developing now. But some APP from partnerships can support PCHAIN (PI) with the limited function. So we suggest you to download the PC version of PIwallet from the official website. You can find more functions on it. For example, you can token swap, transfer tokens between child chain and main chain, etc.
Q10: What are some of the major roadblocks for PCHAIN now?
A10: The major roadblock is always different at each stage. Before the mainnet launched, I think the major roadblock is the tech challenge. We can find it’s not easy enough to release blockchain mainnet as we think according to the recent project news. Since PCHAIN mainnet released, it already updated 25 times and upgraded to V1.1.04 by now.
Except the tech challenge, we need to make more people to recognize the value of PCHAIN. However, it’s hard for people to find the difference of the technology in various projects unless developing based on the chain.
Q11: How can you improve Non-tech users interaction with Pchain blockchain capabilities?
A11: For the non-tech users, it’s better to use official PIwallet to interact with Pchain blockchain capabilities. One easier function is you can transfer tokens via wallet and you will see the confirmation of transactions in short time and the speed of generating blocks. On other way, you can transfer tokens quickly between main chain and child chains.
Q12: How to map the PCHAIN developer ecosystem?
A12: One aspect, we have open source, created the developer forum. Recently, we launched the hackathon to attract developers to develop Dapps based on PCHAIN. And we upgrade it to be the long tern incentive grant programme according to the feedback from participants. We really hope the it will encourage more developers to develop creative Dapps to attract people to use. From other aspect, we will achieve more commercial collaboration to create commercial child chains and accomplish the 2B or 2C applications.
Q13: When i delegated my coins and my delegator was not elected isn’t that fair enough that people become ther coins immediately back to their Wallet Account? Why do we have non elected Delegators at all?
A13: Because of the bidding mechanism, PCHAIN system will elect 1/2 new competitors for each Epoch based on the ranking of staking amount. So the total number of next Epoch Validator = the number of the validator in current Epoch +1/2 number of the new voted nodes. If you failed, you always have the chance to bid for Validator in next Epoch.
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