Weekly Summary of PCHAIN AMA on 05/12/2018
Thanks for Live AMA invitation from dbcrypto, PCHAIN AMA this week was held with dbcrypto together in on Dec.05.2018 at 8am (UTC+8).
PCHAIN founder and CEO Dr Feng Cao and CTO Steven Lv answered some questions in the telegram.
The following is the summary of the AMA.
PCHAIN is the world’s first native multichain system that supports EVM; making large scale blockchain applications possible.
There is a lot to discuss, I would like to begin with a bit on each of your backgrounds and motivation for working on the PCHAIN project.
I am Founder of PCHAIN, Chief Scientist of Blockchain Application Committee of China Federation of Logistics & Purchasing and Senior Researcher of China Blockchain Research Alliance.
I am the inventor of the first international patent of blockchain in China and co-founder of ChinaLedger, China’s most influential blockchain alliance. In 2016, I have led the team to complete the first financial transaction on the blockchain in China. I was the former head of IBM next grand challenge project in GCG, the Chief Scientist of Internet finance in China, the head of IBM fundamental science research in China and the Co-chair of the Patent Review Board.
The motivation for PCHAIN is very simple. I think blockchain is still in very early stage and blockchain technology need to be further improved to make large-scale blockchain applications possible. Another very important thing for me, is that after the 1st financial prototype and financial transactions in 2016, I had this kind of mission: I believed
“Blockchain is the future. Everybody needs blockchain and every industry needs blockchain.”
Part 1: PCHAIN Technology Questions
Q1: What is your vision of PCHAIN in 3–5 years?
A1: We hope PCHAIN can really help to make large scale blockchain applications in various industries and build industrial blockchain networks.
Q2: You have had a very successful Testnet 1.0 with peak TPS of 123,424. How is your Testnet 2.0 going? Do you have any updates or data to share?
A2: PCHAIN Testnet 1.0 get TPS of 123,424 with 256 child chains, and every child chain contributes about 400 TPS. Now we have optimized the system and one child chain can reach about 600 TPS. So with the scale of 1.0, Testnet 2.0 can get TPS of about 180,000.
Q3: Can you talk to use about your unique PDBFT algorithm?
A3: It greatly reduced the communicate cost of traditional PBFT from N² to N which is very important for PDBFT to work in public environment. And it adopt VRF dynamic mechanism in proposer selection which would be much helpful on security and avoid the attack on proposer. In addition, we optimized PBFT 4 step into 1 step which is very unique in this space. We applied 2 relevant patents for PDBFT algorithm.
Q4: Will the team be focusing on further optimization of the system to achieve higher TPS or are there other ways the team will try in order to achieve TPS?
A4: Yes, we will be focusing on optimization of the system TPS. And we still dig into the running logic to try to make them more efficient.
Q5: When will a technical whitepaper be published?
A5: We submit a real paper to SIGMOD in last week. More tech doc will be delivered in the next couple of months. We will have a yellow paper when all these docs are relatively mature. As you known, we mainly focused on development/coding previously.
Q6: What about the possibility of inviting independent validators to join the current network? When can developers access the network via the command line?
A6: In fact with Testnet 2.0, anyone with one qualified machine can join it with RPC call. With our detail instruction ready, it should be easy to operate.
If ‘access the network’ by means of RPC, Testnet 2.0 supports it now. If it is by means of wallet, we will supply it later.
Part 2: PCHAIN Marketing Questions
Q1: With the current market being the way it is, what is PCHAIN doing to manage funds to enable them to continue building according to the roadmap and planned timelines?
A1: We managed our funds very well. We can make sure the funds can support us to pass through this bear market.
Q2: How do you feel you are doing with achieving the milestones on the roadmap?
A2: We continuously achieved our milestones on time, even ahead of time. We generated many innovations and patents during this journey which makes us proud of ourselves. And we believe these results will help to the whole blockchain industry and human beings.
Q3: Any news about adoption of PCHAIN, including major partnerships or collaborations on the horizon? Are there any plans for PCHAIN to cooperate with government sectors?
A3: Regarding the government sector, as many industry applications are highly connected with government. It‘s a natural process to apply PCHAIN technology in government platforms.
Q4: How are you going to build a developer community and drive developer adoption?
A4: We announced our developer community and webpage in our official website. We had a hackathon in Helsinki this month and will have more later on to attract contributors from the community.
Q5: CertiK is a project that I am interested in and many others here. Can you talk about the nature of your work with CertiK at all?
A5: CertiK will help PCHAIN to audit for all the smart contracts /DApps on the PCHAIN platform and they will also help PCHAIN on improving security.
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Thank you for reading!
You can follow PCHAIN below
Telegram 1, Telegram 2, Telegram(Chinese Community)
Telegram(Russian Community), Telegram(Spanish Community)
Telegram(Germany Community), Telegram (French Community)
Telegram Announcement Channel
Twitter, Steemit, Reddit， Founder/CEO’s Twitter