The online AMA (Ask Me Anything) was organized on 03 March 2020 by the SWFT Blockchain in their official Telegram community. In over 30 minutes, we answered all the questions which raised by their community members about Truechain project.
TrueChain (TRUE) is the world’s first public chain to achieve a fPoW + DPoS hybrid consensus, providing a high-performance and high-security public chain infrastructure for decentralized applications and asset circulation. Founded in October 2017, it was strategically invested by well-known capital angels in many industries such as ZB Group. So far, it has been reported by CCTV as an excellent public chain infrastructure case five times. Partners include the world’s top 500 Microsoft China and Amazon. Currency institutions such as Paxos and MakerDAO. On March 30, 2019, the main net was launched. TRUE has logged in more than 20 globally-known platforms including OKEx, Binance Dex, ZB, Bithumb, HitBTC, and BW.
Here’s a recap of Q&A
What differentiates TrueChain from other blockchains?
A: TrueChain is the world’s first public chain to achieve a fPoW + DPoS hybrid consensus, providing a high-performance and high-security public chain infrastructure for decentralized applications and asset circulation.
What are the things that we can expect from TrueChain in 2020?
A: We recently upgraded hybrid consensus to 2.0 and upgrade from original PBFT + fPoW to DPoS + fPoW. We are focusing to improve the performance in application and expand DAPPs. In addition, we are aiming for good results in the landing payment and listing on high volume exchanges.
Explain 3 benefits and utilities of TRUE coins? also what’s the use of TRUE coins in TRUE whole ecosystem?
A: If I have to select 3 points then it should be
1.Gas fee for transaction
2.Offline payment possibility
3. Most importantly, anyone who hold certain amount of TRUE can join our dpos Committee and they get voting rights.
I see TrueChain is very good. I want to ask what has been achieved until now, 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. We upgraded hybrid consensus to 2.0. OKEx, ZB, TRUE WenZhou, Phoenix Team, JXL, Red Rice Node, Raiders Capital, TRUE India and other 19 institutions and organizations worldwide have registered for the DPoS Committee node election already and we are expecting more people to join our staking program. If anyone in this community is interested to stake and become part of dpos committee they can DM me and I will be happy to help them.
Why you launch your own Blockchain instead of leveraging an existing and proven base layer protocol? How can you ensure scalability without comprising the private Blockchains being built on top of your platform?
A: TrueChain’s FPow+DPso 2.0 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 DPos consensus that FPoW is responsible for choosing/electing the committee members and DPos committee is responsible for transaction validation.
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.
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.
How many partners currently have trusted TrueChain technology and what benefits do these partners bring to TrueChain and vice versa?
A: We are strategically invested by well-known capital angels in many industries such as ZB Group. So far, it has been reported by CCTV as an excellent public chain infrastructure case five times. Partners include the world’s top 500 Microsoft China and Amazon. Currency institutions such as Paxos and MakerDAO. On March 30, 2019, the main net was launched. TRUE has logged in more than 20 globally-known platforms including OKEx, Binance Dex, ZB, Bithumb, HitBTC, and BW.
Also, as you all know we have been reached a co-operation with SWFT Blockchain. SWFT Blockchain has listed TRUE/USDT, TRUE/BTC, TRUE/ETH trade pairs and supports instant swap between TRUE and more than 200 currencies. You can also enjoy one-click trading, red envelopes, paymentsof TRUE on SWFT Blockchain.
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 u:se 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.
For a project, community factors contribute to the victory of the project. So, does Truechain have any plans for community development? also tell us about where all can we trade TrueChain?
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.
Can we stake TrueChain?
A: A: Yes, we do. You can stake TRUE on TrueChain Wallet. Download it here: https://dapp.truedapp.net/appdown/
True staking aims to provide a safe and stable mining experience on TrueChain’s main network.
Among them, dpos committee node can invite more people to join its own node for entrusted pledge mining, and set mining incentive fee freely to share mining reward to participants of its own node. True users can choose node to carry out entrusted pledge mining and enjoy True mining income give by the node. The APR will be around 16%
Thanks for reading through this AMA.
Truechain official website: www.truechain.pro
Truechain official Telegram: https://www.t.me/truechaingroup
Truechain official Twitter: https://www.twitter.com/truechaingroup
Truechain official Facebook: https://www.facebook.com/truechaingroup
Truechain official Instagram: https://www.instagram.com/truechain.pro
Truechain Github: www.github.com/truechain
Truechain Explore: www.truescan.net