Summary of PCHAIN AMA on 12/02/2019
We have finished the AMA with Dr. Feng Cao on the telegram. Thank you for your participation and support. The following is the summary of the AMA.
Q1: Will you share an updated roadmap post mainnet launch? Main milestones post mainnet?
Feng: Yes. We will make some update on our roadmap in 2019 after mainnet launch. There will be not too much changement. We will have some new functions and re-prioritize some tasks.
Q2: Will the two Commercial Child Chains be launched with mainnet? How many coins will they need to access to the PCHAIN network?
Feng: In mainnet launch, we will have 1 main chain and 1 child chain. For commercial child chains, we will launch them as the project schedule. The coin needed for commercial child chains will be two part. The 1st part is the stake for launching a new child chain. The 2nd part will be the gas/token used for smart contract call inside the commercial child chains.
Q3: How many other potential Commercial Child Chain is PCHAIN negotiating with? Targeted number mainnet + 12 months?
Feng: We hope to focus on 2–3 industry at 1st stage. And we hope to develop 1–2 reference commercial child chain solution. After that, it can be scaled replicated. So it’s hard to estimate the number of Commercial Child Chains at current stage.
Q4: On the EVM front, do you have ERC-20 companies already looking to migrate to PCHAIN post mainnet? Targeted number mainnet + 12 months?
Feng: ERC-20 migrate is an exciting direction. And we are discussing with some projects.
Q5: How challenging will it be for non-technical holders to set-up their validator node? What is the latest update on Validator set-up automatization?
Feng: Yes. Our last validator set-up is much easier. Almost just one-click is needed :)
Q6: Jeff, what do you think, we need stress-test of PCHAIN Testnet with already working 256 child chains? stable test and consensus test?
Feng: Yes. We are working on a lot of test including consensus, stable and stress test.
Q7: Maybe we need public test?
Feng: Yes. We already invited some external nodes to join the public test. When it became more stable, we will invite more and more external nodes to join the public test. I think we will have the announcement within 1–2 weeks. And you could review therelevant announcements in past 1–2 weeks.
Q8: Public test more than 1 child chain?
Feng: This public test is mainly for mainnet launch. So we will have only 1 child chain. Regarding 256 child chains, we have done some test in testnet 1.0. And we will increase the child chains step by step after mainnet launch.
Q9: please tell more about Smart Data
Feng: Smart Data is a key focus of PCHAIN in 2019. It’s highly relevant to Commercial Child Chain as it’s often industry oriented. We are also working with IEEE standard. The success of Commercial Child Chain will prove the value of Smart Data. And then, it will be reference to IEEE standard. Smart Data may change the model of current big data. As you known, data will be the most important resource to human being in the next era. Currently, data is mainly holed by big internet company. Through Smart Data, the ownership, usage and result of data can be better defined.
Q10: PCHAIN selects a validator using Epoch which is 30 days, If I am running a validator bidder and it is not selected, what keeps me and others to continue to run a validator bidder for 30 days, Because I have to pay server cost and time to maintenance.
In short how PCHAIN will keep people locking their tokens to run nodes comparing to Dash.
Feng: If you are not selected, you can delegate your token to other validator. To keep your server online, you will also have the opportunity to compete for a validator in child chains.
Q11: Could I know how many enterprises have interest about PCHAIN? And Chinese government can cooperate with PCHAIN?
Feng: Many many enterprises. Chinese government also pay a lot of attention on block chain. The latest budget from China Government is 3 billion USD on block chain.
Q12: Hello Jeff, some investors are worried because soon the tokens of the team will be unlocked, and the price does not move. We know what bear market is. But other projects to be in large exchanges have had good value. Do something respectfully to avoid a massive dump before the mainnet.
Feng: In fact, more token will be locked after mainnet launch. And the tokens of the team will be unlocked linearly within 2 years after mainnet launch. So the inflation is very limited.
Q13: Hi Jeff, I have a question on the reward system of PCHAIN for validators.
From what I understood, reward was not fully delivered at the end of 1 epoch (30 days) but over a year.
Is there any way to ensure the rewards are 100% distributed every month (or potentially even every week) as opposed to roll out over a year?
The key reason is to maximize real-time incentives for the voters, while obviously making sure people are here for the long run (vs short term speculators)
Feng: The reward is 100% distributed every month and need to be unlocked linearly.
Q14: Can PCHAIN be scaled to run faster than other block chains like EOS?
Feng: Of course, our test net 1.0 achieved over 120K TPS with 256 child chains.
Q15: Sir can you please confirm that dapps and companies will be buying PI from exchanges and not over the counter.
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