Point network X Decentralized Club Ama Recap From the 27th of April
Hello, Decentralized clubbers Another AMA took place in Decentralized Club and we would like to introduce to you the AMA session with our guest Serge from Point Network . The AMA took place on the 27th of April .
Celeb | Decentralized Club
Welcome @sergevar
Serge | I will never DM you first
Thanks for having me @Calebkure
Hi everyone
Celeb | Decentralized Club
Let’s take this time to check out Point network socials and website and also to follow the rules…
We would be having 3 sessions here today
Introduction
Twitter and live sessions
Can we begin introduction questions
@sergevar
Serge | I will never DM you first
Let’s go 🙂
Introduction questions asked by Dc Moderator, Caleb | Decentralized Club
Celeb | Decentralized Club
Introduction questions
Q1. Can you start us off with brief description about Point Network and its mission?
Serge | I will never DM you first
The gist of it is, we believe that despite many projects calling themselves “web3” and “decentralized”, there’s no real web3 yet
All of them still rely on web2 components
- centralized domains that can be taken away by US government or compromised
- centralized cloud storage that can be censored and hacked into (see BadgerDAO $120M hack)
- browser extensions like Metamask that Google can delete at any moment
Celeb | Decentralized Club
Am hearing this for the first time
Serge | I will never DM you first
Right, many people don’t realize that
So we came up with world’s first full web3 architecture: decentralized domains + decentralized storage + decentralized identities
No single point of failure, so cannot be censored, and privacy-preserving
So for the first time, we finally have real web 3.0, the implementation of this dream of decentralized internet
And we codenamed it Point Network
Celeb | Decentralized Club
That’s great
An interesting way to coin a name
Reply done after you successfully answered a questions
Let move on to question 2
Serge | I will never DM you first
<End of answer>
Celeb | Decentralized Club
Q2. How can a user use the services by Point Network and also what level of permission needs to be provided to Point Network ?
Serge | I will never DM you first
Not sure what is meant about the level of permissions, it’s just a software running on your computer like any other
But like you would use Tor Browser to access Deep Web, you would use Point Browser to access real Web3
We have many alpha testers already, and anyone can play with it by going to pointnetwork.io > Download Alpha
Should be straightforward
<End of answer>
Celeb | Decentralized Club
Check out this website guys
Q3. What’s the utility of $POINT and how does one aquire it ?
Serge | I will never DM you first
POINT token is going to be the default payment method on this new internet, and it is also used to pay for transactions on Point Chain (for gas to validators), and micropayments to decentralized storage providers (for example, when you attach a picture or a video to your web3 social media post)
And it’s done automatically
There will be more announcements soon in our Telegram group (https://t.me/pointnetworkchat) about the launch, so stay tuned
But yes, we’re launching soon, so everyone reading this is still very early
<EOA>
Celeb | Decentralized Club
Guys prepare and join up guys
Last question for this session
Q4.Can you tell us what are your guys next major priorities in 2022?
Serge | I will never DM you first
We have a whole roadmap website dedicated to this: roadmap.pointnetwork.io
As you can see, it’s quite a lot of things to work out
For now, we just need more people to be aware of what we have been building and test the alpha and give us feedback/suggestions
The early adopters community is being organized right now, so if someone things it’s cool to be a part of early Point history, feel free to send us your suggestions and ideas
It will help shape how it will look like in the future
<EOA>
Celeb | Decentralized Club
You mentioned alpha testers
Serge | I will never DM you first
Yes
Celeb | Decentralized Club
Are there rewards for early adopters
Serge | I will never Dm you first
Yes, there’s a bounty program where we pay stablecoins for going through the process, recording it and sharing feedback
Can ask in the group for details
Already helped us improve it a lot
Celeb | Decentralized Club
Everyone should take note guys
Questions asked on Twitter for Point Network team!
Celeb | Decentralized Club
Twitter questions
1. I got confused trying to study the Point Tokenomics, it has alot of denominations to it such as the wei, kwei, mwei etc. My first time of seeing this, so is why have so many denominations, and what would these denominations be used for withing the platform?
@tigonflames
Serge | I will never DM you first
Actually, that’s coming from Ethereum. For example, ethereum gas fees are often quoted in gwei (“gigawei”, meaning 1,000,000,000 wei)
And wei is the smallest denomination of Ether
Like satoshis for bitcoin
Celeb | Decentralized Club
Yea get that
Serge | I will never DM you first
Basically because of price explosion it’s hard to quote anything small in Bitcoin or Ether, so smaller denominations are used (otherwise you would have to count zeroes in 0.00001 BTC for a cup of coffee or something)
And because we’re compatible with Ethereum-like networks, we maintain similar naming
Might switch it around a bit in the future
<EOA>
Celeb | Decentralized Club
2.I read that By cutting off access to the legacy internet from your browser, you cut off any ability to collect information about visitors without their knowledge and permission. Has this been tested and proven to work? @chris_385
Serge | I will never DM you first
It remains to be proven and tested of course since we’re still in alpha
But the general idea is this
We cut all access to web2 space, so dApps cannot ping Google Analytics for example
And so it breaks the current client-side analytics/spying model
And also there was a server-side
When you go to a web2 website, you have to connect to their server, they know your IP address etc.
Celeb | Decentralized Club
Can you explain spying model
Serge | I will never DM your first
Well on 99% of websites (including supposedly “web3” websites) there are usually scripts like a Google Analytics script that pings Google servers to note your IP address, each website page you’re visiting, your universal ID it assigned to you etc.etc.
Same with Twitter and Facebook buttons, they’re not just buttons, they’re spying on you across the internet
To give you supposedly better ad experience
So we break this paradigm here
But also there was a server-side spying on web2
When you go to a web2 website, you have to connect to their server, they know your IP address etc.
Here, on Point, the websites and dApps are not connecting to any server, but connecting to a blockchain to see what are the latest updates to the website, and then downloads from decentralized storage
So you’re not even connecting to any central entity that is behind the dApp
Plus there are other privacy features in our roadmap, but would take a lot of time to explain, and I see I already wrote a lot 🙂
You can learn more from our whitepaper https://pointnetwork.io/link/whitepaper
(best viewed on desktops)
<EOA>
Celeb | Decentralized Club
Sure
Chrome browser can do that
Let’s continue
3. Where security is a core value in Blockchain, what is the gravity of lost of a user if a breach happen to come on your project as this is a priority every trader
@Io_abdullah
Serge | I will never DM you first
In web2, if a server is breached, all data about users are leaked and compromised — their passwords, names, emails, private files etc. And users cannot do anything, because the security responsibility was on the server side, because of centralization
In web3/Point, there is no server to be breached. The security is pushed to the users instead. Just like banks vs bitcoin, where yes, every user has to care about their own security (keep their secret phrase secret), but also means that an attacker would have to not just compromise one server, but security of all of the people, to get to the same result
In the first stages (alpha and beta) we’re highlighting that it’s still new experimental software (we’re operating on the bleeding edge of this industry, uncharted territory), so I wouldn’t recommend trusting it with your most private and intimate data just yet 🙂
But when it’s robust enough, then yes, using end-to-end encrypted Point Drive and Point Mail would certainly make more sense than using Google Drive and Gmail, where you basically send all your files and emails directly to the NSA
<EOA>
Celeb | Decentralized Club
Last question for twitter preselected questions
Can we move on
We still have time
Serge | I will never DM you first
Sure
Celeb | Decentralized Club
4. Metaverse has just emerged with great potential for future development. Point network is in its early stages. Obviously, it is full of opportunities. So how can a new player/investor participate in early investment on point network?
@Danielpelumi16
Serge | I will never DM you first
We position POINT as a utility token to be used for Web3 interactions on this new internet, not a speculative investment instrument. You can stay tuned for our announcements (at our telegram group t.me/pointnetworkchat) about our launch and the token’s availability
<EOA>
Good questions
Celeb | Decentralized Club
We got a 5 question
Serge | I will never DM you first
Sure
Celeb | Decentralized Club
Quite straight to the point
5.Can you share with us How you plan to curb spys away from your platform and keep users details safe?
How do you plan to protect users privacy when using your platform?
@joeshua
Serge | I will never DM you first
It’s similar to the privacy question above, but yes, you can see privacy features in our roadmap. One of them is decoupling wallets from web3 interactions (when you post a web3 tweet, you don’t want people to look up who paid for the gas and see which wallet is yours and how much funds you have — this is a current problem with Ethereum’s lack of privacy), and other cool features that need to be researched
We don’t keep users’ details safe, cryptography keeps users’ details safe
Not having a central point of failure helps a lot
<EOA>
Awesome, good questions from Twitter
Questions Asked by our Decentralized club members during live session to Point Network team!
Q.1 [ Marhaba]
Can you show us the tokenomics of POINT Token? On which chain it will be built on? Will it have staking too? lastly Will it be multichain? If yes Can we be able to bridge it in the future?
Serge | I will never DM you first
Precise tokenomics to be released closer to the public launch. It’s going to be our own Point Chain, L1 (layer one), based on Polygon Edge.
It is multichain, indeed, that’s one of the points of pride for us. Not only does it mean having bridges for the token, but because it’s a whole software suite, it means we can connect to any chain behind the scenes and you would be able to interact with existing dApps on Ethereum chain, Polygon chain, Solana, and even send Bitcoin and Bitcoin lightning transactions, all from one point (pardon the pun) and using the same seed phrase to log into all of them (with different addresses for each network of course)
Q.2 [Atharv]
You are offering so many products like,
Decentralized E-mail,
Decentralized instant Messaging,
Decentralized Social Media,
This looks very good in terms of security,
But what do you think about the Adoption in Near term from Non- Crypto users?
Serge | I will never DM you first
We start with crypto users, of course, just because they’re more security and privacy minded and understand immediately how it works and the benefits. But we pride ourselves on our ability to bring web2 interfaces into web3, such that interacting with decentralized twitter, you wouldn’t feel much difference from normal twitter. Hopefully that helps with adoption and gradually people understand that it’s time to upgrade from their old internet infrastructure to this new growing network with better security, privacy, and fun people that are tired of censorship, mass-surveillance, and Big Tech monopoly over their data
Q.3 [ GULJAR]
“What is your strongest advantage that you think will make your team leading the market???
Serge | I will never DM you first
We don’t see any other project pushing for radical decentralization of every component of the internet all at once as much as we do. So because there’s no real web3, we don’t see any competing projects that are trying to do the same. If this continues, Point might, hopefully, become the web3 standard, so much so that communities could probably start shaming the projects that they’re still using old vulnerable insecure web2 infrastructure that leads to more and more hacks, instead of deploying their apps on Point and enjoying full censorship-resistance and real decentralization
Q.4 [ Just Chill And Shill ]
The current crypto regulatory framework is almost non-existent. Worse, financial watchdogs remain vague about cryptocurrencies. How will Point Network manage to untangle the threads of uncertainty in the drive for compliance? How will it provide compliance and legal assurance for Web3?
Serge | I will never DM you first
The financial aspects of it can be dealt with, the biggest issues are with censorship-resistance and anonymity.
We’re completely anti-censorship and anti-surveillance. And we expect attacks from governments and Big Tech on web3, especially as it grows bigger, because they will not like to be innovated out of existence. And this is exactly why the project is architected from day 1 in such a way, that even if they try to force us to shut down the network or censor it, we will not be able to do so, just like creators of Bittorrent cannot shut down torrents, because there is no central point of failure to shut down — even if half the network goes offline, the other half still finds each other.
So we will not be able to comply with anything they ask us to do because we engineered it precisely for this scenario
And other web3 projects that are not on Point at that moment could be shut down instantly, by taking away their domains or storage
Q.5 [ KAWASAKI ]
What is the focus of your project right now? To attract new investors? Increase token value?or New collaborations and partnerships??
Serge | I will never DM you first
We are focusing on partnerships at this stage, but not fake partnerships that you hear about in the crypto space a lot, just announcement for the sake of an announcement. Instead, we want to deploy their UIs on Point, then come to them and say: look, your dApp is now completely decentralized on Point. We can transfer the keys from your domain to your team, and then you can see how it improves security and privacy
For example, every single update to a website on Point is a transaction on blockchain, which means every change is transparent, public and auditable, which dApp communities will probably like as a bonus. On top of that, a domain can be held in a multisig, meaning that to change a dApp UI, then, for instance, 3 out of 5 team members have to approve the change. Which makes it harder for hackers to compromise dApps, because now they can just compromise one party (you can remember that even bitcoin.org website was hacked a few months ago, and other similar cases)
Plus it’s education for users, so that they understand why we have to make this move from almost-web3 (Web 2.5) to full and real Web3, if we want to win this war against censorship, mass-surveillance and Big Tech
HELPFUL LINKS :
[Forwarded from Serge | I will never DM you first]
Website: https://pointnetwork.io
Telegram group: https://t.me/pointnetworkchat
Twitter: https://twitter.com/PointNetwork