XP Network AMA Summary Recap with Shin Chan Community
We held a live AMA with CEO & Co-Founder: Nir Blumberger, CTO:Dima Briukhanov and Blockchain Engineer & Co-Founder: Verbal Kint from XP Network on 10th September 6:00 PM (UTC+8). Here’s the recap for those who missed it.
Jack: Before AMA start, can you introduce yourselves and the team background?
Nir Blumberger: I’ve been in the crypto world since 2017. It worked for the AmaZix managing several crypto projects.
Later I joined Firmo Network who developed a unique tech fro derivatives and was later purchased by eToro.
Dima is in C/C++ development since early 2000. He tought in several colleges & universities. Several years ago he started developing in Rust. I offered him to lead our dev team as a CTO
Verbal is a seasoned dev in multiple languages including Rust and Solidity.
With such a team I can be sure that all the goals we set will be achieved in the designated time.
Jack: Do you have any news/update about XP Network would like to share with us?
Nir Blumberger: I hope you guys follow our announcements, but just in case I can remind you, that we have built the first of the kind NFT bridge and are integrating it with more and more blockchains on permanent basis. This week we’ve integrated with HECO & Avalanche. several more chains are being tested and will be announced soon. You can test the demo of the bridge here: https://bridge.xp.network
Dima: We have created several demo accounts in all the bridged chains and minted NFTs for each account for you to quickly test how it works. Upon an NFT transfer you will be provided with a link to check the success in the target chain. Enjoy))
Q1: Sir, what problem does @XPNetwork_ aim to solve that other existing projects are not solving as at the moment have you pass an #AUDITS, how secured is This project and is your project for everyone globally. ?
Nir Blumberger: Thank you for the question. We’re different from the other project for several reasons: 1. We’re breaking the entry barriers of entry to the NFT world to the content makers with no coding experience, 2. We’re using the Move smart contract languages, the safest in the industry, 3. We have built the first NFT bridge that lets users to seamlessly transfer NFTs between the bridged networks.
Dima: Security is the number 1 priority for us. Therefore, we’ve chosen the Substrate framework to build our own blockchain, the Move smart contract language, since it is very safe and yes, the sensitive parts of our code are audited by third parties. Moreover, all our code is open-source. You can come and check everything yourselves.
Q2: How about the security of #XpNetwork? What safety precautions are you implementing to make all the transactions secure and the users identity protected?
Dima: First of all, we’re never asking for any personal or sensitive information. All our accounts are incognito and all the private keys reside on the terminals of our users, so, there is nothing to expose. All the transactions are inspected by a pool of validators each one of them is physically detached from the rest. We use the BFT threshold in our multisig, so if 30% of our validators are down the blockchain will still operate as usual. For a TX to be included in the next block at least 67% of the validators have to approve it.
Q3: As I noticed more experienced users can edit the code generated by Migration-Module. What will happen when user-edited code has errors?
Dima: Correct. Our Application Editor is equipped with an IDE for the experienced users to modify and extend the existing dApp templates directly in the code. On the one hand, this may introduce new bugs, on the other hand we will supply our IDE with a code validator that will attempt to compile and run the code in the sandbox and if any inconsistencies are found you will be warned about it. If you are a no-code (our main target group) you may be sure that all the dApps are tested and audited and you can feel very safe.
Q4: Sir, is it possible for $XP token holders to participate in the project’s governance? What kind of project-related decisions may people vote on?
Dima: At the moment we are centralized, meaning that all the important decisions are taken by the team. However, when our community matures we will introduce governance and all our token holders will be able to vote for the proposals their peers will make. They will be able to choose the transaction fee rates, the consensus system or any other significant aspects of the blockchain and the platform, so it is worth having our tokens.
Q5: Can you talk about the future of digital assets and blockchain technology? Will it affect the worldwide revolution, or just be a trading game for the partial people? When will qualitative changes and inflection points occur?
Dima: We strongly believe that NFTs are much more than a game or a tool for speculation. The value of NFTs is under evaluated as a tool for sealing the ownership rights. We’re building our platform not only to open the doors to the world of NFTs to millions of non-developers, but to attract quality content producers and, potentially, have a Renaissance effect in our times. If we let talented people earn on their talents it should boom creativity and we might see new DaVinchis and Raphaels in our days.
Telegram Live AMA Begin:
Q6: What plans does the team have towards global adoption,? Are there any ambassadorial roles that we can apply for?
Dima: We’re already starting an ambassador program. If you’re interested, please, join. We’re building an inclusive and welcoming community open to all the languages, cultures, religions and states.
Q7: XPNetwork Dual IDO is launching on BSCPad and OccamFi on September 14. So can you please assure us that it’s going to be free and fair? And Do you have any activity to keep community engaged while waiting for launch ?
Dima: It will be absolutely honest. We’re here to stay for decades and we expect you to stay with us for good. Join our community and help us make this world more transparrent, inclusive and stimulating for creativity and development.
Q8: Nowadays, many users are increasingly worried about privacy issues when there are many cases of user data leaks in the world. So How does XP Network solve this problem?
Dima: We’re not collecting any private info. If anybody does — it is not us)) We’re using secure programming languages that make memory and data leakeages impossible. All our code is public. The critical parts of the code are audited by the third parties.
Q9: We have seen in various platforms that mining NFTs is very tough task & there is high gas & tx fee, How will you try to solve this issue?
Nir: Our fees are very democratic. It will make much sense to mint NFTs on our platform and then move them to the other blockchains. However, the point of our project is rather creating your own dApps, like marketplaces, auctions, lotteries, NFT exhibitions, financial and insurance services based on NFTs, minting NFTs with royalties to the authors, etc. And all that under YOUR control. You will be the bosses of those apps! It is much more than minting.
Q10: IS only a D- app Developer Can take benifit from hodling $XPNET Tokens ? If I want to buy the XPNET Tokens at the best price than when Can I buy . Can you give me details about it ?
Nir: At the moment the best price you can get is the IDO on September 14th on BSCpad and Occam. I strongly advise you not to miss it, since the price afterwards will only be rising. And even if you do not plan to develop any dApps with our App Editor, you can use the tokens to become a validator and earn on the transaction fees, or as a nominator. In the last case you will stake your tokens, nominate the validators you trast, thus backing them with your tokens, and they will share a part of their transaction fees with you.
Q11: I read XPnetwork supports more than 10 types of NFT dApps. so can you tell us the types of NFT dApps it supports? And besides this, are you planning to include more soon? Or will the amount shown be enough?
Dima: We’re supporting multiple chains, such as Ethereum, BSC, Avalanche, HECO & Elrond. We rather support the token standards acceptable in those chains. If a chain has unique standards, like ESDT in Elrond, we build a compatibility layer and still make such fungible tokens or NFTs interchangeable.
Q12: How will you block malicious users who want to print an NFT of a copyrighted work on the XP network? How will you protect proven NFTs? What rules did you set during the NFT printing phase or dApp creation?
Dima: We’re considering to develop a tool that will fish for NFT piracy. It is something very new and not enough researched. However, when it goes live it will allow the true NFT owners to find the clones of their genuine works.
Q13: In your Roadmap Q4 2021 you have said that you will be launching “Alpha Version of Application Editor” . Can you brief us What was the Main purpose to launch the Alpha version and what unique features users Can expect to see in this upgrade ?
Dima: The Alpha version will allow to create several dApps from the pre-tested and pre-audited templates that we will prepare. The user will be able to customize the UI of the prospect app from the existing themes and pallets. Other than that it will a be a fully functional version, except that more and more features, themes, pallets and certainly dApp templates will be added in the following months
Q14: How do you see the development of NFT in the crypto space and the real world? What strategies does your team have to help NFT be most widely adopted in the future?
Dima: We hope that the world of NFTs will become so universal, that the governments will have no choice but to develop the legal base for the NFT property writes. And we need your support for that as a community.
Q15: Will XPNetwork’s multi-bridge be able to organize NFT dApps and connect them to the blockchain? Do you think XPNetwork will be a large NFT ecosystem? Can you tell us about your current demo bridge, can all NFTs flow between chains and provide unlimited transitions?
Dima: We’re striving to become the largest NFT ecosystem, since our no-code Application Editor will allow millions of far from tech users to rush into the world of NFTs. Building it to be stable and secure we will be in the market for decades.
Q16: On your website I notice that XP Network is building the largest NFT dApp ecosystem — one that will connect different protocols and remove the entry barriers for non-technical entrepreneurs.
What do you consider entry barriers for non technical entrepreneurs?
Dima: As you may know, the salary of a Solidity or a Rust dev is way beyond $100K… Instead of hiring a team of developers you can build a tested and audited dApp yourself and start your own business without having to invest substantial amounts into your start-up, is not that attractive?
Q17: Smart contracts are still, prone to bugs. How secure, is your smart contract? so that we believe, Your project is safe and good for the future of investors???,”
Dima: You’re quite right. This is why we offer battle-tested and audited by third parties templates as a start for every dApp our platform produces. Slow and steady wins the race, but slow is not about our times. Everyone wants it fast and robust. And this is exactly what we’re offering. Fast but robust.
Q18: I realized that the XP NETWORK is a centralized finance system, but will a governance structure be implemented in the future that allows token holders to vote on governance proposals? If that’s the case, what kinds of choices can users make?
Dima: Any choices related to the future development of the blockchain, Application Editor and the Multibridge that the community cares about. What next blockchain to integrate. What new tool to attach. How high or low should the transaction fees be, etc.
Q19: We see that most NFT platforms set Artists, Photographers, Celebrities as their target audience. Can you explain what XP Network will offer to this audience and how it will attract them into its ecosystem?
Dima: The other platforms offer the content producers to mint NFTs on their platform and use the existing infrastructure. We’re offering our users to build their own infrastructure and controll it from A to Z. People can build boutique NFT shops, exclusive NFT exhibitions. Designer auctions and lotteries. It’s like building your business online. Besides, out of the box our dApps will have SEO tools, to help faster promote the product. This will be the true decentralization and true freedom of choice.
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