On April 8, 2019, two members from the OneLedger team, David Cao (Founder) and Aly Kassam (Director of Product) held an AMA on Telegram.
The OneLedger community actively participated in the AMA. It was an hour filled with lots of interesting questions and discussions relating to the development, vision, marketing and yes, when exchanges? We would like to sincerely thank everyone who participated in this AMA and our entire community for continuously supporting us during these stages of development and company growth.
We have listed some questions and answers below for those who missed the AMA. If you have more questions regarding this or any other topic, feel free to message us on our Telegram channels (click here) and our team will be happy to help you.
- Why interoperability is important for blockchain projects?
David: The interoperability would make blockchains work together instead of working as isolated islands.
Aly: In addition to David’s response, imagine the internet when it was first founded. It was scattered intranet’s hosted by the governments and universities, with little to no communication between each other. We see this as a problem that the Blockchain world is facing at present. In the next tier of Blockchains, this will change and will require blockchains to speak with one another, to exchange information and/or trigger actions on one blockchain based on data in another. That's why it’s super important to have interoperability.
- I have a question about the supported blockchains in Q4 with mainnet. Once you mentioned in your meetup in Toronto that your mainnet will support 10 blockchains, then when you did the interview with Brad you mentioned that the mainnet will support 5 blockchains, what I want to know which one is true when you release it by Q4?
Aly: I appreciate you watching my interview with Brad. Our goal is to have 10 Blockchains by the end of the year. We are working on a design where if we could launch 2–3 blockchains, other blockchains would be a cake walk. Our Chain Driver support is completely extendable and capable of doing this. Keep in mind Ethereum and Bitcoin are the most complex, after which most other Blockchains are based on their architecture.
- Can someone explain what it means to have 10 Blockchains?
Aly: OneLedger is an interoperable blockchain, which means that we have the capability of bridging the different blockchains together. We built an MVP in June of last year demonstrating the capability of connecting ETH to BTC through an Atomic Swap. We are now extending that capability and scaling it to support more blockchains.
- What governance do you plan to implement that is the Crux of the network?
Aly: We will have 3 categories of governance
1. Software upgrades
2. Parameter upgrades
3. General Community opinions on various concerns
- When will you announce the minimum amount of staking? Please specify a minimum amount. This will allow people to buy more tokens. If you say that anyone can even be staking with 1 OLT, it won’t impact on the price.
David: You are right, staking is a very important part of the token economy, we would design it professionally and release it soon.
- How much will they pay to validators? They will pay the stakers too? How much? Are you sure, that they will be ready to pay enough amount since first-day mainnet launch?
Aly: We are working on the Token Economics model and how much each validator will stake in the coming months. We will release this info by the end of Q2.
- Is it possible to have Mainnet ready before the scheduled date?
Aly: Our Development team is working hard to release mainnet as soon as they can. We are also entertaining multiple different feature sets for mainnet to be launched on time. If any pan out to having OneLedger launch mainnet earlier than expected, we would definitely consider it. For me, I obviously would love to be early to market.
- OLT is currently erc20 token. When do we have to swap tokens?
Aly: The token swap will happen after mainnet.
- Will you renew the website? I think OneLedger deserves a better website.
Aly: LOL Deng you are of the same mindset as me, Sahir, and Edwin. We are working on it, and it’s currently in the design phase. Hopefully, you will see it soon.
- How are you related to PChain and how do you benefit from each other?
Aly: PChain is a partner that we are collaborating with on multiple levels. As mentioned, they will help us in hosting nodes as well we have some technical collaborations with regards to interoperability, in 2019.
We hope you enjoyed reading the Q&A. The entire session went on for a little over an hour. Our team thoroughly enjoyed this AMA and looks forward to the next one.
On a side note, the OneLedger team is co-hosting an event with Polymathand CryptoChicks on April 22, 2019. If you are in the Toronto area, feel free to drop by. The registration is now open and the tickets are free. We hope to see you there 🙂