TrueChain AMA with Cryptohub Telegram Community

The online AMA (Ask Me Anything) was organized on 15 December by the Cryptohub in their official Telegram community. In over 30 minutes, we answered all the questions which raised by their community members about Truechain project. TrueChain

TrueChain is the world’s first public chain that implemented fPoW+ PBFT hybrid consensus and has a strong global open source developer community supporting it.

TrueChain provides the underlying public blockchain infrastructure with high performance and security for decentralized applications and financial transactions.

Here’s a recap of Q&A

Question 1:

What are the biggest obstacle to your project when you implement it to the real world, and what is your plan on overcome these problems ?

A: Consensus is the biggest challenge. Our aim is to constantly expand our community and reach more developers to know, own and use $TRUE

Question 2:

What differentiates Truechain from other Blockchains such as Binance ?

A: TrueChain’s FPow+PBFT hybrid consensus which uses PoW to solve the most important problem in the public chain space, that is the “Impossible Triangle”.
It combines the PoW and PBFT consensus that FPoW is responsible for choosing/electing the committee members and PBFT committee is responsible for transaction validation.

Question 3:

What are your planning in 2020 ?

A: In 2020, we are focusing to improve the performance in application and expand DAPPs. In addition, we are aiming for good results in the landing payment.

Question 4:

Explain 3 benefits and utilities of TRUE coins? also whats the use of TRUE coins in TRUE whole ecosystem?

A: If I have to select 3 points the it is
1.Gas fee for transaction
2. Offline payment possibility
3. Use TRUE in gaming industry and also crowdfunding of other project on Truechain.

True is the only token of 『truechain』ecosystem

Question 5:

I see TrueChain is very good. I want to ask What has been achieved until now (End of year), and what TrueChain will do in the future to get better?

A: We opened the first consensus conference in Hanoi, Vietnam, and reached cooperation with Pax and Makerdao to stabilize the currency. In addition, we also co-operated with Microsoft, Amazon, etc. and released its own main network and developer platform. Also, I’ve shared our focus area of 2020 in 3rd question.

Question 6:

Why you are launch your own blockchain instead of leveraging an existing and proven base layer protocol? How can you ensure scalability without comprising the private Blockchain being built on top of your platform?

A: Other public chains such as ETH don’t solve the impossible triangle problem well,so we have our mainnet. We provide many tools in the aspect of developer platform, which are compatible with ETH and convenient for ETH developers.

Question 7:

How will TRUE plan on funding the future cost of running the foundation and paying wages to the large team? Will you set up any sustaining treasury, if not then how?

A: Our capital reserve is relatively sufficient, and we are continuously implementing some for-profit projects, which can support the expenditure of the development team.

Question 8:

If I buy pizza for TRUE now, will I regret it in the future?

A: Maybe, we strongly believe in our project and team. Also, we are building strong community for developers.

Question 9:

How many partners currently have trusted TrueChain technology and what benefits do these partners bring to TrueChain and vice versa?

A: Microsoft, Amazon, Paxos, Makerdao
Better computing experience and support for computing power were brought to Truechain, as well as brand support. In addition, they also promote the issuance and application of stable currency on true.

Question 10:

What are the recent change of your strategy in product design, development and marketing? How will it help the TrueChain to move further with the safest & fastest Blockchain technology?

A: We are connecting and expanding the technology open source community and providing token support to enrich more development resources, develop more dapps and improve the ecology.

Question 11:

What features does the TRUE token have?

A: Compared with other project, the total number of TRUE is less, only one hundred million.

Question 12:

Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to TRUE token long term?

A: They will use it in projects involving in project development and incubation, and use offline payment scenarios in Southeast Asia, Europe and other places to purchase goods and services.

Question 13:

For a project, community factors contribute to the victory of the project. So, does Truechain have any plans for community development?

A: We will strengthen our efforts in the global community, especially in the technology open source community, and we will have a variety of online and offline activities to support it. We also hope you can promote it in your own country

Question 14:

Where is TrueChain traded?

A: Refer the below image for the complete list

Question 15:

Why you choose FPoW instead of DPoS like other projects? And what are advantage of FPow+PBFT hybrid consensus compare with others?

A: FPoW, i.e, FruitChain PoW, satisfies the same consistency and liveness properties as Nakamoto’s protocol(BTC POW consensus), and additionally is a fair PoW consensus.
fPoW is more fair than PoW consensus, prevents Selfish Mining Attacks(25% Attack).

Thanks for reading through this AMA.

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Community Manager | Growth Hacker | Customer Success Manager