On 26th November, ONESHOT Ventures has a Telegram AMA with NIRVANA CHAIN.
At the AMA: JANATHAN LANCASTER – CPO of Nirvana Chain, introduced and shared many interesting information about Nirvana.
- PLACE : https://t.me/oneshotventures_chat
- TIME : 12 PM UTC | 7 PM (UTC +7) | 26th November 2021
- Airdrop : $100
Great, the AMA will be happening as follows:
Part 1 : Introduction
Part 2 : 5 Question 5 Question from Twitter
Part 3: 5 Questions In Free Asking
ONESHOT: We’re temporarily shutting down chat to prepare for an AMA with Nirvana Chain.
NIRVANA: I am ready. Let’s start up.
ONESHOT: Let start part 1
Question1. Could you please introduce Nirvana Chain and your team to our community?
NIRVANA: Hello, I’m Jonathan Lancaster, CPO of NA (Nirvana) chain. I used to be a senior R&D director in Apadmi limited. I graduated from Oxford University and majored in computer science. After graduation, I have been engaged in development and technology docking. As an early investor of eth, BTC and ADA and a believer in cryptocurrency, I hope to inject cutting-edge technologies such as machine learning, computer vision and blockchain into Na (Nirvana) chain to improve the popularity of blockchain technology and audience participation.
Our team were established in October 2018. All the founding members, including me, have entered the blockchain field since 2013. They have very rich experience and successful cases. Most of the team are technicians. I am mainly responsible for the overall innovation and growth of the project, leading the technical team in architecture design and core code development.
Na (Nirvana) chain is the first public chain to put forward the heterogeneous compound chain model. It innovates and integrates the traditional public chain technology, and solves the long-standing problems of the public chain system, such as congestion, unable to realize compound calculation, and unable to keep the handling charge constant. Through heterogeneous application chain and cooperation of miners at different nodes, it is like viaducts, Dpos + DAG consensus algorithm has successfully realized the accurate data diversion, which brings a faster TPS experience and a more convenient experience for the growing application ecology. It can be said that it is the underlying system of the blockchain specifically for applications.
At present, we have successfully solved the problem of traffic proof through consensus mechanism proof of work / flow. All important parameters, rates and pricing ranges are decided by online voting of all nodes, and the platform is truly maintained by consensus of nodes. In addition, we have launched the testnet at 12:00 EST on June 27, 2021 and mainnet on October 17,2021 EST, so you can experience the above new functions immediately at our Nirvana testnet.
For the Nirvana Chain token –NAC , The total amount of nirvana chain tokens –NAC token is 75 million, a total of 28 million will be destroyed, of which 47 million will be retained, and the remaining portion will eventually be used to reward platform contributors or community governance initiatives.
Nirvana Chain token –NAC token is listed at ZBG exchange in June 15,2021 with the listed price of $5.0,and the ZBG exchange address is https://www.zbg.io/trade/nac_usdt and at present the price of NAC token is $12.75.
ONESHOT: Question 2:
What was the biggest milestone your project-Nirvana Chain has achieved and What is Nirvana Chain development plans for this year?
NIRVANA: We have launched the testnet in June 27th, 12:00 EST and mainnet in October 17,2021 EST and the first 200 mining machines have been put into evaluation operation in July 5,2021.This is the biggest milestone of our project. It is also the result of the hard planning and development of the team and the full contribution of community members!
This allows us to make timely optimizations and adjustments before launching the main network in the future, and is an important step forward for building a decentralized value network in the future. If the test goes well, we will launch the mainnet version according to the roadmap: NA1.0 will officially open the NVM virtual machine, cross-chain and high-performance computing tasks, and NA2.0 will launch the USDN algorithm stable currency and wallet functions to realize DeFi All interactions between, NFT, smart contracts and digital assets, and can use NAC to anchor real-world physical objects.
All users can also publish custom Android apps with built-in NA wallet functions. When the NA ecosystem establishes a parallel economic system that allows cheap and fast remittances, enabling companies to conduct transactions around the world, NA Wallet officially accesses the payment gateway merchant function.
At this time, the NA3.0 phase is launched, and the NA Berry OS is newly launched. It marks that the decentralized Nirvana ecosystem will carry hundreds of millions of business economies.
While you build your project, do you take into account community feedbacks and demands?
NIRVANA: Yes and Over the past two years since the founding of Na (Nirvana) chain, we have not only put the precipitation of technology, the thinking of economy and the exploration of the whole industry into the proposal, but we know that there are certain limitations. We think that a perfect encryption economy design needs to gather the wisdom of more community members.
Na (Nirvana) chain has been actively listening to the feedback and suggestions of the community from the writing of the white paper, to the open source code, to the release of the economic model proposal, and now to the official launch of the Na (Nirvana) chain test network. Our community is open source, and every valuable opinion will promote the growth of Na (Nirvana) chain, and even the progress of the whole industry! Therefore, we hope that more partners and community members will join us to complete the test of the test network.
ONESHOT: Phase 1 has ended. Part 2: Questions from Twitter
ONESHOT: How can users and developers participate in the Nirvana Chain testnet and what are the incentives for participant ？How could users do at the Nirvana Chain testnet ? from @Joelmor60923611
NIRVANA: Good questions.
NA (Nirvana) Chain is launching the testnet and has attracted a number of well-known companies or institutions to become its global validator nodes. The mainnet is expected to be released in the next few months. The testnet being released is the core layer testnet that allows users to test Nirvana’s smart contract workflow which is novel, linked to calculation and supportive for self-timed tasks, experience the fastest transaction most block chain cannot achieve, and complete calculation at lower cost. NFT and commodities trading like stocks and gold are also available in the future.
These performance optimizations will dramatically improve many existing blockchain scenarios. At present, many game companies, NFT developers, and DeFi data providers have expressed their intention to deploy on Nirvana network. The list of global nodes will be officially published after strict screening. Please stay tuned!
At Nirvana testnet you can perform transaction and transfer function tests, and use various intelligent functions such as land lease, creation of a centralized market, smart editing (dynamic), USDN-Swap, etc. Developers can also experience application practice and self-task tasks to create applications, and advanced customized components and tools.
ONESHOT: At present, Ethereum, DOT and other public chains have their own features and markets. The market has higher requirements for public chains in terms of performance, stability and transaction costs. What are the advantages of NA (Nirvana) Chain compared with other public chains? @ChrisMauer7
NIRVANA: I’m sure you remember the Black Swan event on March 12 ,2021 when Bitcoin fell by as much as 50%, and Ethereum and other altcoins, as well as Polkadot all experienced extreme hardship. Especially when the DeFi Ecology suffered the largest on-chain liquidation in history, Ethereum fees soared from 1 Gwei to 200-300 Gwei, with a maximum of 600 Gwei, and transactions with even higher price are not guaranteed be packaged by miners. Polkadot is highly innovative and stable compared to Ethereum, but it lacks security and ecology, and thus many developers still want to build their applications on Ethereum.
With its heterogeneous compound chain model, NA (Nirvana) Chain adopts Pow/FLOW, DpoS and DAG consensus algorithms and provides a high-quality architecture to ensure fast and safe robustness of system, maintains high stability by grafting into Ethereum’s secure ecology, and uses NAC in stablecoin real-time exchange protocol USDN-Swap system as stablecoin, to keep a constant service charge of 0.01USDN per transaction.
These are technologies unparallel to all other public chains. In other words, we created and implemented it with Ethereum as benchmark, but some of the innovations have surpassed Ethereum.
ONESHOT: A question about $NAC token, adoption of token to the ecosystem is one of the good things to increase its usability and spend, so what role does $NAC token play to the ecosystem? @Daniell87773130
NIRVANA: The total amount of nirvana chain tokens –NAC token is 75 million, a total of 28 million will be destroyed, of which 47 million will be retained, and the remaining portion will eventually be used to reward platform contributors or community governance initiatives.
Nirvana Chain Token-NAC are mainly used for miner rewards, community governance, full node voucher exchange, transaction circulation, etc. Users who hold NAC can participate in community proposals and decisions, and put forward opinions for critical time and fund usage and other important times. In order to fully guarantee the value of NAC tokens, NA (Nirvana) Chain pioneered the unique destruction mechanism and extreme deflation model, using daily destruction, quarterly destruction, annual destruction, etc., to maximize maintenance of NAC core values.
The system destroys 100%NAC tokens at one time when the full node voucher is exchanged. 10 percent of NAC tokens are destroyed per year for domain name rental; NA AppStore releases to the App Market and destroys 10% of NAC tokens per year; Transfer fee: GAS, 10% for each transaction.
ONESHOT: What are the competitive advantages of your project over [email protected]
NIRVANA: Good questions.
NA (Nirvana) Chain is a decentralized infrastructure platform focused on providing a friendly experience for application developers, allowing the support of other public blockchain applications such as Ethereum in the form of cross-chain. From the beginning of research and development, it has been defined as a new generation of public chain ecology. It is considered to be comparable to and surpassing Ethereum and Bitcoin in the new era and is a necessary one-stop development tool.
NA (Nirvana) Chain advocates that “everything is born for applications”, trying to create an ecological solution for the Internet that can be quickly implemented for the construction of an IT information system. Because the founding team advocates that everything is decentralized to ensure the spontaneous operation of the system, especially Set up a miner incentive model to achieve an autonomous value network of resource exchange and transfer. The emergence of NA (Nirvana) Chain enables the Internet to be decentralized again. Its ultimate vision is to empower the transformation of the real economy from the underlying logic and architecture, and become a subversive blockchain application that reconstructs the real economy.
100% decentralization NA (Nirvana) Chain understands that decentralization will always be the core of the consensus and competition of the blockchain, so the core mechanism of the project is to spread around the road to decentralization, and strive to increase transaction speed and low handling fees for users.
Innovative heterogeneous compound chain
At the technical level, the project uses a heterogeneous compound chain model to use DPOS to campaign for Workers to obtain DAG data processing qualifications, and realize the real-time submission of millions of data; more 100% decentralized domain name creation and rental platform are extremely practical , Each project can use NA’s platform domain name in different blockchains (such as ETH, BTC or others), and can publish tasks at the same time to find a suitable website and then resolve to the NA public chain to create a decentralized domain name;
Original N++ learning language
The original N++ learning language allows developers to master it in 5 minutes. Simple learning makes it easier to attract developers to join, so as to realize the mass production of the project software system in the developer store; NVM virtual machine and advanced smart contracts make complex calculations faster The working method helps developers save time and realize self-timed tasks;
Actor concurrency model
The actor concurrency model realizes the calculation of large-scale microservices, which greatly improves the computing power, speed, and avoids waste of resources; distributed storage provides users with intelligent editing under dynamic and static conditions;
Constant transaction fee
In order to solve the volatility of the fee price, the project adopts the stable currency real-time exchange protocol (NUSD Swap), using the NAC in the system as a stable currency to achieve a constant fee of 0.01 USDT for each subsequent transaction.
ONESHOT: Next question!
At the time when the NFT market is hot, Binance has been promoting the development of the NFT market. Is there a plan to develop NFTs after mainnet launch of Nirvana chain? Will Nirvana Chain issue its own NFT? @Johnson63358975
NIRVANA: NFT’s turnover in the second quarter of this year has exceeded 750 million US dollars, an increase of 48% from the previous quarter. We have enough reasons to firmly believe that it is unleashing strong activities, and NFT dapps must be the next wave of growth in the blockchain industry.
Nirvana Chian will be an example of landing in the NFT field. It is currently building China’s first blockchain painting and calligraphy industry service platform-China Painting Capital NFT Art Chain with the China Painting Capital Painting and Calligraphy Industry Platform. This platform is also an NFT blockchain anti-counterfeiting traceability transaction. The service platform aims to provide services such as anti-counterfeiting traceability and copyright protection for the majority of calligraphers, painters and technology owners.
Next, Nirvana Chian will continue to cooperate with more traditional art institutions to help companies get on the chain, so that more realistic works can be spread all over the world through digital art, and link them to the NFT field with a trillion-dollar economy. In order to achieve a win-win and co-prosperity development ecology. After the mainnet goes live, Nirvana Chian will also actively explore and launch its own NFT platform, allowing users to create, purchase, sell and resell NFTs. In the future, it will also cooperate with calligraphers and painters to release unique NFT works to enrich the diversity of NFTs.
ONESHOT: Phase 2 has ended
Part 3: Telegram direct questions
You can choose more 5 question to answer!
COMMUNITY: Can you tell us about your token metrics and what incentives are available to investors when buying $NAC tokens ?
NIRVANA: The symbol of Nirvana Chain Token is NAC .
Native tokens of the NA (Nirvana) chain are mainly used for miner rewards, community governance, full node voucher exchange, transaction circulation, etc. Users who hold NAC can participate in community proposals and decisions, and put forward opinions for critical time and fund usage and other important times. In order to fully guarantee the value of NAC tokens, NA (Nirvana) Chain pioneered the unique destruction mechanism and extreme deflation model, using daily destruction, quarterly destruction, annual destruction, etc., to maximize maintenance of NAC core values. The system destroys 100%NAC tokens at one time when the full node voucher is exchanged. 10 percent of NAC tokens are destroyed per year for domain name rental; NA AppStore releases to the App Market and destroys 10% of NAC tokens per year; Transfer fee: GAS, 10% for each transaction.
Nirvana Chain token –NAC token is listed at ZBG exchange in June 15,2021 with the listed price of $5.0,and the ZBG exchange address is https://www.zbg.io/trade/nac_usdt and at present the price of NAC token is $12.75
Nirvana Chain ,is born for applications ,super application public chain ,and is a pioneer product of the core development plan of N & A laboratory.
- Firstly to use heterogeneous composite chain architecture to achieve data divide and conquer, massive concurrency.
- Decentralized domain name rental platform to realize the construction of anonymous decentralized web pages. Web domain names, UI, logic programs, and data are all on the chain, realizing 100% truly decentralized Dapp and Dweb.
- The NVM virtual machine implements timing tasks, parallel computing, and micro-services. N++ programming language realizes 5 minutes extremely fast to master.
COMMUNITY: Nirvana Chain is the first to propose a heterogeneous compound chain model. Would you please update how the heterogeneous compound chain works ?
NIRVANA: Nirvana Chain heterogeneous compound chain model realizes data divide and conquer and massive concurrency. Through heterogeneous application instance chains and the collaboration of different node miners, it is like a viaduct, successfully realizing accurate data distribution.
First of all, Nirvana Chain will also have a main chain, which is called the application chain, and the application chain uses the PowFlow consensus mechanism. The main chain only saves basic information such as application installation and uninstallation, which minimizes the data capacity and greatly improves the efficiency of synchronization.
Every application on Nirvana Chain will have an instance chain, and the instance chain is a composite chain composed of a logical chain and a data chain. The logic of the application is processed by the logic chain, which uses the DPoS algorithm, in which the business logic and Event command-type events are all interactively executed by the logic chain, and the user interface can also be packaged and released to the logic chain when the DAPP is released.
The application data is stored and processed by the data link, which uses the DAG algorithm, and the performance is above 10000TPS. DPos is between 2000 and 5000TPS, while PowFlow is within 10TPS. Massive amounts of data will be processed at an extremely fast speed. NA (Nirvana)’s heterogeneous composite chain architecture has solved the speed problem from the beginning of the design. If the traditional public chain is a water pipe, the Nirvana Chain is like an advanced water system, which integrates and adapts a variety of consensus mechanisms to ensure that the data on the chain is processed most efficiently.
COMMUNITY: According to your development plans of the cross-chain operation , could you please tell us which chain will you target first for cross-chain operation, and why did you choose it?
NIRVANA: Nirvana Chain is a blockchain underlying system designed for applications. We would first choose Ethereum with excellent security and sound ecology to cross-chain. Ethereum has shown a relatively complete ecological scale with the open source system of smart contract functions. Most developers still choose to build DApps within the Ethereum ecosystem.
At the beginning of this year, the total number of DApps in Ethereum exceeded 2,000, and the number of DApp smart contracts directly pointed to 8,000, especially in the DeFi sector that was on fire this year. A large number of star projects appeared in fields such as stablecoins, mortgages, lending, transactions, and asset synthesis. : LINK ranks 8th in market value, MakerDAO ranks 29th in market value, Compound ranks 32nd, Synthetix ranks 38th, etc.
Nirvana Chain is grafted into Ethereum’s safe ecology through a high-quality structure to enjoy extremely high stability and give developers flexibility Customized services can build applications at low cost and efficiently, meet the different needs of developers for different applications in real application development, make up for the shortcomings of Ethereum development at the bottom, and enable Nirvana developers to apply Integrate into the mature Ethereum ecosystem for better implementation.
COMMUNITY: For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it is developement? Can you tell us that how your project generate the profit?
NIRVANA: First of all, NA (Nirvana) Chain, as a new generation of all-round public chain, is an underlying blockchain system designed specifically for developers and based on applications. From November 2018 to September 2020, after a long preparation period, we completed the process of proof of concept, technical feasibility test, white paper and other processes. The first advanced model led by heterogeneous complex chains, NA (Nirvana) Chain has received substantial investment from many world-renowned funds and institutions, and has established cooperative relationships with many large companies.
We welcome developers and companies to come to NA (Nirvana). ) Development on Chain. Not only does it provide the most comprehensive and lowest-cost one-stop development tools, but also provides funds for excellent development projects. We are fully prepared.
We not only generate profits from products, but also form value through relevant stakeholders, and finally are driven by social consensus. It has to be said that NA (Nirvana) Chain has a series of technical advantages, advanced capabilities and cutting-edge products, which can obtain current benefits, profits and exponential growth of assets or owner’s equity for us. For example, since the distributed node server went on sale on April 27, there have been more than 3000+ server nodes in the world. Now that our mainnet is launched on October 17, 2021 EST, the NA domain name system will also be put into use. At that time, the application scenarios of dual tokens NAC and NOMC will increase, which will directly promote the price increase.
COMMUNITY: Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?
NIRVANA: Covid-19 has changed the way people work and live, and distributed office and online interaction have become the mainstream. For the encryption field, it actually promotes the increase in the demand for blockchain innovation and adoption. NA (Nirvana) Chain, as a public chain project focusing on the blockchain field, will prompt us to develop bearers more quickly With better and simpler online products and a secure network environment, truly decentralized ecology, and through unique chain transformation technology, thoroughly improve the shortcomings of the centralized supply chain system, and create new lines for these difficult times On the paradigm, to achieve a globalized digital world.
We communicate with community members in time through online AMA, and use video, voice and other remote office work between members. In fact, since the beginning of our team because of frequent business trips or scattered elsewhere in the world, distributed office is our normal state. Of course, we try our best to conduct face-to-face centralized offices while ensuring safety, and hold online community gatherings as appropriate.
ONESHOT: Do you want answer more question sir
NIRVANA: Time’s up!
Thanks for your excellent work!
ONESHOT: It’s great, thank you for accompanying and answering questions from the community
NIRVANA: It is a great opportunity and pleasure to introduce NA (Nirvana) Chain.
ONESHOT: Would you like to say anything more to the community before the end of this AMA session
NIRVANA: thanks and please feel free to contact us if you have any questions or would like to know about our projects.
ONESHOT: AMA end
Thank you so much!!!