Partisia AMA Summary Recap with Shin Chan Community
We held a live AMA with Amana from Partisia Blockchain Marketing team on 25th May 08:00 PM(UTC+8). Here’s the recap for those who missed it.
JH | Shin Chan: Before the ama start, can you please introduce yourself and the team background to our community?
Amana | Partisia Blockchain: Sure!
I’m Amana from the Partisia Blockchain Marketing team, here today representing Partisia Blockchain on behalf of our Co-Founder — Brian Gallagher. I am working on the KOL and Community Management.
The Partisia Team has been involved in the research and development of advanced cryptography solutions since 2008. We were the pioneers in delivering the first commercial use cases of MPC. We built this blockchain to disrupt layer 1 by bringing privacy, scalability, and interoperability.
The Partisia Blockchain team today is a small team of under 50. Our team has experience in both crypto and non-crypto projects
JH | Shin Chan: thank you for the introduction 💯
Can you briefly introduce what Partisia is all about? And is there any news would like to share with us?
Amana | Partisia Blockchain: Partisia Blockchain is a Layer 1 + 2 which is the world’s first blockchain protocol that supports both public and private transactions 100% on-chain and decentralized. Founded by the co-inventors of MPC (Multiparty Computation) and founders of the MPC Alliance, Partisia is architected and built to create and preserve a free and open internet controlled by the users.
We help blockchain users and developers who care about the future of the free internet to experience blockchain technology, unlike legacy protocols our solutions are revolutionary, built for scale and privacy to unlock the full potential of Web 3.
After 4 years of development we have our mainnet launch in under 1 week! Our mainnet will go live followed by public sale on 31st May!🎉
Q1: I look forward to your upcoming Crypto Valley Conference where you will discuss PRIVACY, SHARDING for SCALABILITY, MPC COLLATERALIZED BRIDGE and more. I’m a bit interested in your “MPC Collateralized Bridge”, so can you share some details about it and how this bridge works?
Amana | Partisia Blockchain: There are 7 main features and innovations that deliver Partisia Blockchain’s complete Layer 1+2 Blockchain. We have called it — ZEUS.
Our Collateralized Token Bridging is called HERMES. Cross-chain interoperability is native to Partisia Blockchain with Bring Your Own Coin (BYOC) and token bridges.
We have designed a new type of token bridge that addresses existing weaknesses. This is an important innovation as any use of Partisia Blockchain involves external coins, hence, token bridges are part of the very backbone of the blockchain network. We believe this is a superior foundation for a more solid token bridge.
Token bridging limits accumulation of financial risk through frequently expiring epochs and MPC tokens as collateral staking. We call it Hermes Bridging and claim that this is the most secure token bridging in the industry.
Read more on MPC Collateralized Bridge here — https://medium.com/partisia-blockchain/hermes-collateralized-token-bridging-8200e4c0b24d
Q2: I read that Partisia has a model capable of solving the blockchain trilemma. This caught my attention, can you tell us about the three points that make up the trilemma and your proposed solution? Has Partisia really succeeded in solving and fixing common blockchain problems?
Amana | Partisia Blockchain: The Blockchain Trilemma involves 3 aspects — Scalability, Security and Cost.
Currently blockchains are plagued by scalability issues or cost issues meaning it’s very secure like Bitcoin or Ethereum but we can’t have 1 billion users using it because as more people come, it’s not scaling in a way for costs to stay low.If you solve for a scale or cost a lot of times you trade-off as there’s less security.
So how do we have an extremely secure blockchain that also scales and can work with all the other blockchains in a cost-efficient way?
Partisia Blockchain is a Layer 1 + 2 protocol which solves the extended blockchain trilemma using sharding for scalability, MPC powered / collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer privacy service for other blockchains.
We achieve solving the scalability by having sharding at the protocol and smart contract level. We create the world’s most secure interoperability by utilizing Partisia’s vast historical software libraries of MPC technology, particularly in the field of threshold key management, to create an open source version of fireblocks, where instead of a few private parties managing secret keys, an open network of hundreds of node operators are the entities facilitating the cross chain value transfer and managing secret keys.
Q3: It is known that blockchain is often one of the most polluting technologies but new blockchains are looking to be more efficient and reduce their carbon footprint altogether. So, will Partisia really be a green option that will consume little energy unlike other blockchains?
Amana | Partisia Blockchain: Yes! We use a new consensus called fast track consensus that’s similar to proof of stake. This uses a lot less energy so yes! Its much more of a green option.
Partisia Blockchain’s Privacy Preserving Technologies is also solving for the world’s largest problems in line with the UN’s 17 Sustainable Development Goals (SDG’s). Green options are always considered with our Blockchain!
Q4: Terra was among the blockchains that were gaining more relevance and its DeFi ecosystem had a strong growth but due to a technical error they ended up having a crisis that led them to collapse. So, is Partisia technically prepared to face the complexities that may arise?
Amana | Partisia Blockchain: Yes! Our team has been involved in the research and development of advanced cryptography solutions since 2008 which has included a lot of preparation!
Luna/Terra had a unique system where there was an algorithmic stable coin connected to their Layer 1 coin. This is not the case for us.
Q5: I saw that on the Partisia Blockchain users can be Node operators, can you give us more details about this? How can someone be a node operator? What requirements do they need to meet? How will you know someone qualifies for the job? What are the benefits of being a Node operator?
Amana | Partisia Blockchain: We have a step by step guide to read on how to set up your node correctly, before you commit your stake.
Partisia Blockchain comes with an extra privacy layer. This allows for zero knowledge computations to happen in parallel with the activities on the public blockchain.
For this to happen it is necessary to allocate part of the nodes of the network to focus on these tasks. To increase the security of these services even further nodes that partake in them are selected through an economic staking model. This means that the owners of the computers handling the sensitive data has a common interest with the users of Partisia Blockchain to protect the data and preserve their privacy.
Read the guide here — includes the necessary conditions — https://partisiablockchain.gitlab.io/documentation/operator-1-specs.html
Linux (e.g Ubuntu 20.04.3 was used)
A text editor (e.g nano 4.3 was used)
Telegram Live AMA Begins:
Q6: As you say that Partisia is a first Protocol that offers Cross- Chain ZK Smart contracts,
What is the main benefit of it? Can you please explain?
Amana | Partisia Blockchain: The Partisia Blockchain project provides a complete platform for orchestrating and offering Zero-Knowledge (ZK) computations on-chain, off-chain and across blockchains (inter-chain). ZK computation adds privacy and confidentiality to blockchains in a decentralised fashion with no single point of trust. The Partisia Blockchain approach is blockchain agnostic and focuses on interoperability while facilitating both privacy and transactions across chains.
We bring multiparty computation, zero knowledge smart contracts to market which allow for enterprise adoption of blockchains where massive networks of private data can be computed on in private environments, and the transparency of blockchain can be leveraged without violating and private data requirements. These smart contracts are also available as a second layer privacy service for other blockchains, which creates a built in network effect for the developer communities to leverage our Zero Knowledge, MPC technology without any switching cost.
Q7: Mainly the project name and the token Name looks similar but in your case,
Your project name is Partisia blockchain and your token name is $MPC,
Why its different, can you tell about that?
Amana | Partisia Blockchain: Partisia means distributed trust. It is a combination of the three words:
We had this vision as our mission is to establish a WEB 3.0 infrastructure with no single point of trust for generic coordination of public and private information to be used by all applications across all platforms.
MPC is our token name which means Multiparty Computation. Founded by the co-inventors of MPC and founders of the MPC Alliance, Partisia is architected and built to create and preserve a free and open internet controlled by the users.
Both names have a core meaning behind them😁
Q8: How big is your team and how can we get introduced with the rest of your team members and founders? Can community interact with them like you?
Amana | Partisia Blockchain: As I mentioned before the Partisia Blockchain team today is a small team of under 50. Our team has experience in both crypto and non-crypto projects. I will add some details on our Co-Founders here -
Our team is comprised of PhD’s in economics and cryptography.
Kurt Nielsen — Co-Founder and President of the Foundation Council
PhD in economics and Co-founder of Partisia, Sepior and Partisia Blockchain. Experienced entrepreneur and business developer turning advanced cryptography solutions into innovative high-tech businesses for over 15 years.
Peter F. Frandsen — Co-founder, CTO and Member of the Foundation Council
Co-founder of Partisia and Partisia Blockchain and have more than 20 years of experience as manager of both projects and people in the software development industry e.g. at Vestas, Rambøll Management Consulting and Partisia.
Brian Gallagher — Co-Founder, Member of the Foundation Council
Pioneer in architecting and incorporating MPC into blockchain use cases. First demonstration of such as Co-Founder of instars.com, one of the largest blockchain powered social networks in the world with over 250,000 verified users and the first to merge MPC with blockchain to return ownership and control over data to the users.
Jakob Pagter — Member of the Foundation Council
PhD in computer science and Co-founder of Partisia, Sepior and Partisia Blockchain. 20 years of experience in developing advanced security solutions based on Multiparty Computation and other cryptographic techniques.
Jesper Buus Nielsen — Professor, Chief Cryptographic System Designer at Partisia.com
Professor in Computer Science at Aarhus University. He is co-founder of Partisia and Sepior and one of the most cited researchers in secure multiparty computation and distributed consensus.
Ivan Damgård — Professor, Chief Cryptographer at Partisia.com
Professor in cryptography at Aarhus University. He is co-founder of Cryptomathic, Partisia and Sepior, and is one of the top cited and publishing researchers in cryptography. Ivan is a fellow of the IACR and received the 2015 RSA Award for Excellence in the Field of Mathematics.
Check out our latest exciting update here — https://medium.com/partisia-blockchain/welcome-iulia-mihailescu-cmo-39a7c6b884f9
Q9: I Found that the Token sale Will start on May 31st 2022 at 10:00 Am (GMT+10) So Will You Please talk about the TOKEN sale ,On Which Platform The TOKEN sale Will happen and Please Provide the details of Token sale ?
Amana | Partisia Blockchain: You can buy MPC tokens from our public sale on May 31st. You will need a Partisia wallet — https://chrome.google.com/webstore/detail/partisia-wallet/gjkdbeaiifkpoencioahhcilildpjhgh?hl=en (this is a google chrome extension for your browser).
We will be launching on exchanges in the next few months. Read our KuCoin Labs partnership here — https://medium.com/partisia-blockchain/welcome-kucoin-labs-to-partisia-blockchain-d9bf6c1209b3
Q10: Partisia is the first blockchain which combines both L1 and L2 protocols together. Could you tell us the reason for this? What competitive advantages does this offer you over Ordinary L1 or L2 projects?
Amana | Partisia Blockchain: Partisia Blockchain is a Layer 1 + 2 Blockchain which solves the extended blockchain trilemma using sharding for scalability, MPC powered / collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer privacy service for other blockchains.
Layer 1: Consensus and communication layer
Layer 2: Smart contract layer that facilitates the private transactions
I have already expanded on our advantages over other blockchain but I will add again here:
We create the world’s most secure interoperability by utilizing Partisia’s vast historical software libraries of MPC technology, particularly in the field of threshold key management, to create an open source version of fireblocks, where instead of a few private parties managing secret keys, an open network of hundreds of node operators are the entities facilitating the cross chain value transfer and managing secret keys.
We also use the MPC token as refund collateral inside the bridge in case a bridge were to get hacked, there is an automatic refund mechanism built into the network. This design and implementation creates more secure, transparent, and asset backed bridging.
Finally, we bring multiparty computation, zero knowledge smart contracts to market which allow for enterprise adoption of blockchains where massive networks of private data can be computed on in private environments, and the transparency of blockchain can be leveraged without violating and private data requirements. These smart contracts are also available as a second layer privacy service for other blockchains, which creates a built in network effect for the developer communities to leverage our Zero Knowledge, MPC technology without any switching cost.
Our partnership with Emurgo, the co-founding group of Cardano, to bridge privacy to Cardano mainnet, demonstrates our built in network effect and strategy to grow our technology usage amongst all the other large developer / blockchain networks.
Q11: 🟡 I noticed you answer the blockchain trilemma in terms of privacy, interoperability, and scalability; could you tell me what the challenges are in various blockchains and how you overcome them in these three areas? Is it true that Partisia has solved and improved the most frequent blockchain problems?
Amana | Partisia Blockchain: The core challenge for all layer 1 blockchains is adoption. This is why we architected our solution to be what we refer to as a l=Layer 1 + 2 Blockchain.
The lLyer 1 is the fastest on the market, with private and public smart contract capabilities. But we understand you can’t convince developers to completely move their application to your layer 1 right away. This is why we offer our zero knowledge smart contracts as a second layer of privacy for other networks. By providing value to the existing developer networks, such as the emurgo partnership on cardano, we can offer our service to all ADA devs, and allow them to buy and stake mpc in order to run our private smart contracts for use on their existing dapp. Then over time, we will see the adoption as they move more resources to our network.
Q12: I read that the main problem that Partisia Blockchain is solving is of Sensitive data being Public,
How does this happens and how does Partisia blockchain solve it?
Amana | Partisia Blockchain: Secure Multiparty Computation (MPC) is a technology that allows a number of servers to jointly compute any function without learning the inputs to the function. It provides a high degree of security, simple administration and consequently efficient deployment of solutions needed for confidential handling of data.
Please see an example of how it works here ^
Q13: Partisia Blockchain manages a large number of independent node operators serving “2 jobs” (Baker Job and ZK compute Job). Can you explain about the difference & function between these 2 jobs? What due diligence must all node operators go through to become an accredited node operator?
Amana | Partisia Blockchain: There is 3 Nodes: Baker, Oracle, ZK
Baker Nodes: Operate basic blockchain
- Validate transactions
- Stake MPC token worth USD
- Stakes do not get locked as
part of the operation
Zero knowledge nodes:
- Operate Zk computation
- Operate in smaller subset of ZK
- Stake MPC tokens worth USD
- Stakes get locked as part of the
Oracle Nodes (BYOC)
- Operate Oracle functions like
- Operate in smaller subset of
- Stake MPC tokens worth USD
- Stakes get locked as part of the