Welcome to our community on t.me/decentralized_club Telegram group’s AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you :)
✔️Introduction with KardiaChain :👉
Q1. Can you introduce what is Kardiachain about?
We are a public blockchain platform focuses on Interoperability and providing hybrid blockchain solution/infrastructure for enterprises and governments in Vietnam and other countries in South & East Asia.
We are working with major services providers (enterprises and government) to decentralise their existing solutions. Our approach helps KardiaChain reach millions of users without the immense cost of educating the market.
Our Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol. This provides easy-to-adopt solutions for institutional clients.
Q2. What are Kardiachain’s main goals in 2020?
Q3. Can you shed some light on the token velocity?
Sure. KAI is mainly used to pay for transaction fee, staking and deploying smart contracts. It is not a currency so the velocity is not that high, token value should be steadily increased, will not be stable like a currency. We aim to have users holding on KAI to use services instead of using KAI to purchase things.
🐧Community ask Questions by Twitter ✔️
Q1. How involved is Kardiachain with the government?
KardiaChain works closely with the Vietnamese government. We have active and former government officials in our advisor board. We work with several government bodies on applying blockchain to existing and new . We involve in multiple discussion with government on blockchain/token/crypto policies and legal frameworks in Vietnam. I will go into details:
1. List of Government officials as our advisors:
Dr. Manh Rinh Vu — Former Communist Party Chief Of Thai Binh Province
Dr Nguyen Khoi Pham — Deputy Minister Of Science, Technology, And Environment
Dr. Hai Son Le — Deputy Minister — Vice Chairman Of Committee For Ethnic Affairs, Government Of Vietnam
2. Our projects with the government ranges from experimental to production level:
Danang is one of the largest cities in Vietnam, we are experimenting with them our blockchain technology to store student academic records.
Vietnamese National TV (VTVCab) is a State-owned TV channel, who are using KardiaChain tech to tokenise their ON Sports mobile app. They position ON Sports as a top sports content platform in Vietnam. KAI holders will be able to play predicition games, donate to their favorite football players, and win exciting rewards
Vietnam Football Federation (VFF) — Official Organisation for Pro Football players. We help them blockchainize data of players, clubs and matches as well as monetise it.
3. We are involved a lot on governemt side as well to make sure being updated with new policies and somehow contribute to the process. Most recent I was giving speech about blockchain and cryptocurrency to Vietnam Deputy Minister of Justice.
Please use translation for these link
Twitter Question No 2 :
What is Kardiachain approach to blockchain mass adoption? How is it different
Instead of developing solutions from scratch, KardiaChain takes a unique approach to achieving blockchain mass adoption by partnering with large enterprises and government bodies to decentralize their existing products/services with large existing user bases. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto blockchain in a highly-efficient manner, while at the same time saving costs for customer acquisition and market education.
KardiaChain is different because we are able create real demand for our KAI tokens and real value for our investors. So how exactly do our partnerships with major organizations benefit investors and what are the KAI token use cases in these ADapps?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Our ADapps are tokenized with many KAI use cases integrated, which increases real demand for KAI tokens, directly benefiting investors. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, livestream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.
Twitter Question No 3 :
Who are Kardiachain’s strategic investors? And what does Kardiachain’s Roadmap for 2020 look like? What are your final goals for this year?
Our strategic investors are mostly our business partners with some investments made personally, such as VTVCab Sport, VFF, and BlockCrafters. This is quite unique in blockchain space where VCs increasingly dominating and make money by dumping cheap tokens on retail buyers.
In 2020, we are launching multiple products and services on our blockchain partnering with tradition enterprises. In April, VTVCab Sport app ON Sports will be using KAI tokens for their new features such as voting and football prediction games. Later on, we introduces new payment channel with a top telco in Vietnam, helping users to buy tokens directly from their mobile balance. One of the biggest streamers community with total 30mil subscribers will also launch their tipping/donating platform with KardiaChain technology.
As I mentioned, by end of this year, I aim to have 1 million KAI holders actively using products and services in KardiaChain ecosystem.
Twitter Question No 4 :
About KardiaChain with Dual Node technology. What would be the benefits for users and developers? Are you working on this phase of the project? how advanced is it?
Thanks for the great question. Please allow me use a few technical terms in explaining the answer
In summary, Dual Node is a bilingual translator who can speak both Kardiachain protocol and another one e.g. ETH, TRX, NEO etc.
A KAI-ETH node can translate what happened in Ethereum to Kardiachain, and a KAI-NEO node can translate what happened in Neo to Kardiachain, thus allowing NEO-ETH communication to achieve
As in benefits,
- User: There are multiple groups of Dual Nodes (KAI-ETH, KAI-NEO etc.) that users can stake or delegate to become validators, hence earning KAI in the process. We setup one-click-deployment to make the process of becoming our dual node validators very easy and time efficient.
- Developers: Dual Nodes together with KSML enable Dapp developers to achieve cross-chain operations that they would not be able to perform otherwise. Example like deploying one Master smart contract that allows asset moving or info validation on multiple chains (ETH, NEO, TRX) at once has not been done before.
For status, Dual Node technology is the core of our project and has been successfully implemented awhile back. We demonstrated this technology few times through our DEX demo back in late 2018. We just uploaded a new demo link here if you are interested: https://www.youtube.com/watch?v=RbbA9-uX1OI&feature=youtu.be
Since then, we have continued to enhance the infrastructure, adding in more participating public chain (TRX) and enable the communication across public and private chain layers to onboard our enterprise and government business partners.
Twitter Question No 5:
How is KSML better than other tool for Dapp developers?
As far as we know, currently there is no tool that allows Dapp developers to comprise multiple smart contracts of different blockchains (and potentially different languages) in a single Master smart contract.
For example, there is no clean way for a Dapp developer to write something like “request account 1 on ETH to send 10 ETH to account 2, AND once that transaction is confirmed on ETH, request account 2 on NEO to return 200 NEO to account 1”.
With KSML leveraging Dual Node technology, you can specify all these operations through multiple smart contracts deployed simultaneously on ETH and NEO.
A KardiaChain Master smart contract using pseudo-KSML would look like this:
Kardia smc written in Solidity to control interaction logic between NEO and ETH
Ethereum smc written in Solidity to specify logic from ETH
Specify mapping from ETH smc and KAI smc
Specify sequence of action when triggered by an update from ETH or KAI smc
Neo smc written in Python to specify logic from NEO
Specify mapping from NEO smc and KAI smc
Specify sequence of action when triggered by an update from NEO or KAI smc
✍️ Telegram live Questions answered by KardiaChain ✔️
Kardiachain goal is to build a complete Blockchain Eco for Institutions by leveraging 3 main components:gateway, infrastructure, & services. What does each components mean? and what role will each be playing towards attaining your goal?
Kardiachain first ADapps is in collaboration with “ON sports”, can you tell us what led to this huge collaboration and the solutions that will be jointly provided from this collaboration in the future?
🇧 🇦 🇧 🇾 🇸 🇭 🇦 🇷 🇰:
Gateway reduces entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels.
Infrastructure refers to the interlinked public and private KardiaChain blockchain network for users and businesses to operate, leveraging our unique non-invasive interoperability.
Services refer to traditional organisations that collaborate with KardiaChain to tokenize and decentralize their existing services/products to become more effective and efficient.
Our collaboration with ON Sports (VTVCab) is an ambitious one, operating on a large scale, our work includes major partners like Vietnam Football Federation (VFF), Vietfootball, KardiaChain Saigon FC. We will develop a complete ecosystem for football fans in Vietnam, our aim is to make KAI tokens the only thing that you ever need as a football fan to enjoy football to the maximum
KSML is one of the unique innovative technology in kardiachain ! Can you introduce KSML in detail?
KSML is a markup language based on JSON primitive (i.e. it is NOT compiled to bytecode by KVM). Since it is NOT a compiled language, we only need to develop a JIT interpreter to process it. The work to develop an interpreter is much more reasonable than a full-blown compiler.
Please see question 5 above for a detailed example.
At the most basic level, dApp developers can write a Kardia Master smart contract which uses *tags* to differentiate between different platforms. Kardia will provide an SDK/API layer to mitigate the process of compiling and deploying these smart contracts onto the appropriate participating chains. The idea is to break down a function into smart parts for the interpreter to reconstruct in different languages.
KAI has a total supply of 5 billion with an initial cir supply of 25% which is 1.25 billion KAI. However, price appreciation/depreciation is determined greatly by Token supply.
Do you have any plan to reduce token supply in other to achieve scarcity and higher token value? Perhaps a buy back or token burn?
🇧 🇦 🇧 🇾 🇸 🇭 🇦 🇷 🇰:
Yes our ADapp business model in collaboration with major enterprises has a profit sharing model. ON Sports is the first announced ADapp with over 200,000 registered users and 800,000 fans.
The profit acquried from these products/services will be partially used to buy back KAI tokens on the secondary market.
Congrats on successfully passed the smart contract audit by CertiK at 95%score on Feb 26, 2020! So after this what will be the next step?
Thank you, we’ve just announced this today. Pass Smart Contract Audit by CertiK is not only showing our security strength, but also meaning that our smart contract passed security qualifications to be listed on top digital asset exchanges.
Regarding partnership with CertiK, our strategic partnership produces win-win results and promotes rapid development as well as enhances the security of global blockchain technology. This will mark our open opportunity as well as prove our tech. More info can be found here: https://medium.com/kardiachain/kardiachain-successfully-passed-certiks-smart-contract-audit-with-a-remarkable-score-of-95-68bc458e68b8
binance trustbison2.crypto loyalist:
As a developer I Know SOLIDITY, Java C can I build dApps on KardiaChain and what are the modalities involved
Yes of course you can. You can use KSML to write Master Smart Contract which will comprise other smart contracts on any other chain. If you want to write a Master smc to communicate between NEO and ETH, you would need to write Solidity for ETH, Python for NEO, and use KSML to glue them together.
KSML is a markup language based on JSON so should be very easy for you to learn also!
I am quite impressed by the speed of the Archi 2.0 testnet. Will #KardiaChain have any new products in the near future, can share with us?
Currently, cryptocurrencies in Vietnam have not been officially recognized. So what is your plan to change the perspective of investors and attract them to Kardiachain?
Our first product is ON Sports mobile app by VTVCab, a state-owned TV Channel in Vietnam. We help them to tokenise and add new exciting for their products to increase user interaction and experience. More products are in our pipeline from now until end of 2020, across multiple industries such as payment and entertainment.
Equating cryptocurrency with blockchain is a common misconception. Cryptocurrencies like Bitcoin or Litecoin are specifically aimed for use as a currency to buy or sell goods/services. KAI tokens are utility tokens, whereas KAI tokens are not intended to be used as a payment currency, but rather KAI is a utility token that have a specific purpose in the KardiaChain ecosystem.
We are well-aware of the status in legal framework in Vietnam for crypto and blockchain. KardiaChain has involved with the government since 2018 and constantly pushing for blockchain-favorable policies.
How is blockchain technology applied in Kardiachain project? Does Kardiachain really need blockchain technology to be well-functioned?
First of all, our vision is going beyond interconnecting the blockchain world but also about connecting public sector, private sector and blockchain world together in South East Asia, and further is to connect SE Asia with the world. There is no existing blockchain that currently offers the unique blend of technology (non-invasive cross-chain connections), customisations required for clients and partners, and business knowhow.
For that we need an underlying technically capable platform to:
1. Offer customisable blockchain solutions that uniquely appealed to our partners and clients (hybrid public-private blockchain solution)
2. Issue digital assets to facilitate payment and incentivise players to join the ecosystem
3. Leverage and realised our relationships and transform them into value adding businesses
Hence, a native token is required to regulate the network and secure cross-chain transactions between blockchains in the whole ecosystem. KardiaChain is the most flexible and easiest to adopt solution for institutional clients.
✔️Thanks to all of our Community Fans✔️
Have a Great Day
Edited by : 🌿DK✍️