#PegNet AMA Summary with #Decentralized_Club✔️

✔️Introduction with #PegNet :👉

@paulsnx2 Will you kindly introduce yourself and tell us what is PegNet about?

🐧Community ask Questions by Twitter ✔️

🐧Twitter Question No :1
Username : @fantom_rb

Q. What are the challenges faced by PegNet to bring DeFi access to Dollar, euro and other highly traded assets?

🐧Twitter Question No : 2
Username : @TomJerryAD

Q. Since LXR builds hash in memory. Will just increasing my ram increase my mining speed?

🐧Twitter Question No: 3
Username : @ManDivineflame

Q. How will PEGNet solve the reserve and collateral problem in a better way than say Tether?

🐧Twitter Question No : 4
Username : @Crypto_Hunter

Q. To make #PegNet have enough liquidity and volume what are you guys going to do so that users don’t face liquidation challenges?

✍️ Telegram live Questions answered by #PegNet ✔️

Q. What is the relationship between Factom and Pegnet?

Many of the developers in Factom have contributed to the development of the PegNet. However, the PegNet is a completely separate and unrelated project. Factom Authority Nodes provide immutable organized data to the PegNet code, but play no other role in the operation of the PegNet.

Q. Why you choose Factom protocol ? What are basic step for a new comer use and transfer PegNet ? I’m only familiar with Ethereum network . It is quite strange for me.

Well, I was the main architect for Factom, so there is that.

Q. How will the PegNet ERC20 token correlate in price and usability? Will the ERC20 token be deemed unusable after the “fork”

ERC20 tokens will match a PegNet asset token in the gateway. This will be auditable by anyone on the blockchains. The gateway will be run by centralized parties, and the ERC20 tokens will continue to operate fine after the fork.

Q. Liquidity problems are mentioned many times for old and new exchanges in recent time, so how will Pegnet solve this problem and build up belief for users to have a good liquidity?

There are many projects focus in DeFi, Pegnet also works on DeFi, so why do you think that community should choose Pegnet instead of others in same field?

Mostly PegNet is designed to address:
Liquidity: Value to value conversions means PegNet always has liquidity inside the protocol
Diversity: Exposure in PegNet can be shifted without counterparty to real world currencies, a range of crypto, or gold/silver
Management: Adjusting and resetting exposure in the PegNet can be done right in your wallet
Payments: Regardless of the exposure you prefer, payments can be made in the asset perferred by a merchent, i.e. pUSD, pBTC, pGold
Security: You can do all of this inside your wallet without counterparties
MicroPayments: Low fees

Q 1 — As we all know that, there are many scalability issues on Ethereum Blockchain ! Then, Why you choose Ethereum Blockchain for PegNet project? I know it’s a backup but Factom is scalable?

2 — Why choose to go with Factom? Instead of Factom, PegNet can make it’s own Blockchain! Does it have tech setback the PegNet team?

@raj888

Factom provides what we need for the PegNet. It provides a basis for bootstrapping the protocol without centralization, provides the data management we need, provides an existing community, and more.

Q. #AMA #PegNet #pegnet
It’s heard that next phase of adoption of blockchain technology will came from the Defi space. What is your views on this?

This is where adoption has been strongest. I also think audits, security, digital identity, distribution of content are all strong use cases for blockchain technology.

✔️Thanks to all of our Community Fans✔️

Have a Great Day

Edited by : 🌿DK✍️

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Decentralized Club

Decentralized Club

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