ZKchaos Summary Recap with Shin Chan Community
We held a live AMA with CSO Chef Strategy Officer of ZKchaos , Erika E on 8th June 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
JH | ShinChan: so before the ama start, can you introduce yourself and the team background?
Erika E: Yes for sure. Hey guys again! So exciting to be here, thank you so much for inviting zkchaos. The community looks really nice and friendly.
Im Erika, CSO chef strategy officer of ZKCHAOS.
My career life before was full of variety.. I used to work for Facebook as Strategic Account Manager, and then.. worked for a government project about CBDC-central bank digital currency. That is also where i met my partners for ZKchaos, and how we started.
As for the team, we got many core builders and developers who served as the advisor for the government-lead blockchain projects, it is inconvenient for them to show up.
Technically, we are led by the doctors in Cryptography, and we have more than 40 blockchain patents. And in terms of operations, our members are all top talents in the traditional game industry and they have operated many successful game projects.
JH | ShinChan: Beside the IDO news, do you have any News/update about ZKchaos would like to share with us?
Erika E: Thats of course the biggest news👍 And we also just launch Anonymous Transaction Demo Images
AMA Twitter Section Begin:
Q1: “Can you simply explain more about the Invitation system of ZKChaos2020? How does it works? How many friends need to invite? What are the benefits of inviting many friends in your platform? Thank you”
Erika E: How many friends need to invite?
At least two people participate, it is considered as a “multiplayer game” When you participate in the game, you can invite at least one person. If you don’t play, you need to invite at least two people. There is no upper limit. If you want to organize a game with thousands of players, you can ask us for help.
What the benefit?
To make money!
It is difficult to implement the system of inviting rebates through smart contracts. So we rarely see complicated rebate systems in defi projects. We have solved this problem through the form of room handling fee rebates.
Q2: “Can you tell us about What are the advantages of ZK-Rollup technology on the “ZKCHAOS” platform and how the TPS of transactions can be increased with orders of multiple sizes without compromising the quality of the user experience..??”
Erika E: Cool, this is a hard core question. Basically ZK-Rollups is a long term Ethereum scaling solution which provides high tps without sacrificing security. All the user-end transactions will be conducted on layer2 which means unlimited scalability as well as the security. The technical knowledge is really complicated, we have an article of analyzing the tradeoffs among different scaling solutions if you interested.
Q3: “Currently, most investors are only interested in profits at this time, but ignore the long-term benefits. So can you give me some advice on why I should buy and hold token in the long term?”
Erika E: First of all, as a defi project, our platform currency is also a governance token. Holders can vote through tokens to decide which currencies are supported for private transactions and which games to launch (after all, we are a game platform, and there is not only one game ). In addition, the future decision-making and development of the project will be handed over to the community for voting and governance.
In addition to governance rights, our token also has economic benefits. We will use 20% of the profit to repurchase the token in the secondary market. The profit includes game fees.
Q4: “A few days ago they confirmed the relaunch of ZKCHAOS through a double IDO on BSCStation and Bounce Finance for June 10th. Could you tell us the details to participate? How many tokens will be for sale? What will be the price for each $CHAOS?”
Erika E: All info is here! The poster was made by a wonderful guy from zkchaos community. Thx him.
Q5: “What if one day ZKCHAOS team disappears and I want to get all my token back, stuck somewhere in your L2 technology. Can I take my money using an ETH contract and avoid using ZKCHAOS L2 infrastructure? is it possible to happen, can you explain to us?”
Erika E: Love this question, bold and straight. The team will not disappear, of course, it can be assumed that we run away lol
Even if this happens, your assets will not be lost. Because of the characteristics of zkrollup tech, your assets will not be locked in our layer2 network.
To briefly explain this process, we first record the accounts on layer2, and then pack several accounts on Layer1 every once in a while, which greatly improves transaction efficiency and saves handling fees. And every note on layer2 also requires your private key authorization, which means that we cannot transfer any assets in the layer2 network. SO zkchaos is very safe.
Telegram Live AMA Begin:
Q6: Understanding that games are very important to ZKChaos, could we talk in more detail about their games and their themes? In addition to how many games have they developed and how many do you plan to develop?
Erika E: Of course, actually we have already sent 2 articles to introduce game platform. Single-Player Game & Utility NFT System Multi-Player Game
Q7: ZKchaos has plans with NFT?
Erika E: Yes, on the game.
There are two types of NFT bonus cards, including double-bonus card and insurance card. Double-bonus cards allow you to double the bonus when you win the game, and insurance cards can pay for your lost chips when you lose the game.
Q8: Understanding that the privacy generated by ZKCHAOS depends on a good volume of transactions in the game, two questions arise:
1- What is the minimum volume of users required within the game to ensure that a transaction will be untraceable to my address?
2- Do you have some kind of counter that allows us to know the amount of active players at any given time?
Erika E: 1.Actually we don’t need user base for privacy protection, all of which are done by zero knowledge proof. But a great user volume will be more favorable.
2.Absolutely, all of the real time info will be shown on the dashboard.
Q9: -Who is your investor?
- How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?????
Erika E: About investors
Q10: 🟢 ZKCHAOS is a decentralized privacy protocol based on Layer 2 technology through ZK Rollup. What are the benefits of using ZK Rollup other than the obvious solution to terrible ETH fees? Why not use BSC or Solana?
Erika E: Good question. So ZKRollups is the perfect solution to scaling Ethereum, which does not sacrifice security of the smart contract. And apparently BSC and Solana can not give what we want. BSC suffers a lot of hacks, and Solana is not that fast.
Q11: Hello thanks for being here! Who are your competitors if any and what makes zkchaos better than them? Is there are a story behind the name you’ve chosen? And where do you see zkchaos in 5 years?
Erika E: competitor: tornado.cash if you may have heard.
But we are extremely more amazing than it.
There are three aspects that make us different:
Layer2
Zero Knowledge Proof
NFT games
And Tornado adopts the ZK-Snark to complete the process of zero knowledge proof. The problem is that they have to make the trusted settings for each transaction which is costly and inconvenient to upgrade the protocol. But we chose ZK-Plonk, whose Trusted settings are more flexible and efficient in multiple application scenarios without sacrificing security. And meanwhile we are free to upgrade and iterate our protocol whenever we want.
Q12: How do you actually generate revenue? How can we sure that we investors can get a great return over time and the revenue model is beneficial for both investors and for the project itself?
Erika E: First of all, you need to have a complete understanding of our game mechanics. It is recommended that you read the product pictures and explanations on medium. After you understand single-player games, two-player games, NFT-buff cards, invitation mode and investment mining, you will feel our efforts in attracting people to play games. Based on this effort, we will have a good trading volume and profit from it.
Q13: ❤️Most initiatives want to expand their community and work with new groups in order to thrive. Could you explain the ZKchaos collaboration strategy in more detail?
❤️Could you kindly update us on your Roadmap’s development and the results ZKchaos has accomplished thus far? Is there any information about ZKchaos plans for 2021?
Erika E: We are committed to becoming the infrastructure of the blockchain ecology and providing privacy protection for transaction data on the chain. Therefore, the public chain with users and assets and various application scenarios in its ecology are our possible cooperation projects.
Q14: I read that Mecha Lotto will be the first game to be launched on the platform, but what does ZKCHAOS have in store for the future? What other types of games are you developing? Do they have to be mandatory lottery games to ensure a constant inflow and outflow of money?
Erika E: We could have launched multiple fair games, but we left that part for all the token holders, they have the voting power of launching games.
Q15: I would like to know if you’ve completed any security audits? Perhaps by third-parties? We’ve seen dozens of hacks, exploits and stuff like that this year, What measures have been taken to protect TRL community from it?
Erika E: Audit will be finished before product launch, by cyberunit.tech.
Q16: How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?
Erika E: For now we have different language community, russian, vietnam, india, helping us getting people from different parts of the world. The website and game is now only in English, we will see our users feedback after launch and see which will be the next language version.
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