AMA VCM x CONFLUX

▶️ Sự kiện giao lưu trực tiếp với dự án Conflux tại nhóm VietNam Coin Market (@Chocoin_VN)
❇️ Tạo điều kiện để cộng đồng có thể hiểu hơn về dự án Conflux. VCM hợp tác cùng Conflux khởi tạo sự kiện giao lưu cùng cộng đồng Chợ.
⏰ Thời gian diễn ra sự kiện: 20:00 vào thứ 5 ngày 18 tháng 06 năm 2020
🧾Nội dung của chương trình: sự kiện sẽ diễn ra gồm 4 phần:
- Phần 1: Giới thiệu về người đại diện dự án và host. Giới thiệu cơ bản về dự án.
- Phần 2: Trả lời 7 câu hỏi hay nhất được hỏi qua Form: https://forms.gle/BMitWJhkYnpHz2v77.
- Phần 3: Cộng đồng VCM hỏi dự án. Bên phía dự án chọn 7 câu hỏi để trả lời.
- Phần 4: 5 câu hỏi Quiz sẽ được dự án hỏi cộng đồng VCM.
🎁 Phần thưởng:
- Phần 2: 100 FC ~ $10 / 1 bạn.
- Phần 3: 75 FC ~ $7.5 / 1 bạn.
- Phần 4: 30 FC ~ $3 / 1 bạn.
Ngoài ra, 35 bạn thực hiện Join nhanh nhất về http://t.me/confluxvietnam sau sự kiện theo bot của ban tổ chức. Sẽ nhận được 5 FC / 1 bạn.
Phần thưởng sẽ được gửi về Bounty Coinflux-Chain. Tại đây: https://bounty.conflux-chain.org/invitation/2fw@z

Mr Hubert: Hello everyone,
Only 2 minutes left and the AMA event of Conflux project will be started
The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and Conflux project's representative is @cike1, @ConfluxCris and Ares Tian.
Vietnam Coin Market Group (VCM) will be locked to make the event convenient.
After part 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project and participate in part 4 to answer the questions of the project team to receive valuable gifts.
Let's start the event.
Hello, @cike1. Welcome to VietNam Coin Market (VCM).
Could you briefly introduce about yourselves as well as your project?

Mr Cike Wang: Hello everyone,I'm Cike, Technical Community Lead at Conflux Network. Previously I was working as brand building expert of the technical team at trip.com, the largest travel e-commerce platform in China and top 10 in the world.
I joined Conflux as one of the first employees during the fundraising phase. At that time, I had heard about this team from my friends at Sequoia and Tencent. Conflux has the strongest blockchain technology team in all of China and the world, and I had been longing to join the team. So when I had the opportunity to work here, it was an easy decision.
Personally, I believe that Conflux Network is the most capable and most advanced blockchain team globally. I believe it will lead the entire industry as a next-generation world-class public chain, and make substantial breakthrough achievements. I don't have to repeat the background of the team here. It is a great honor for me to be a member of this team and to be able to contribute a little to this great vision.

Mr Hubert: This is useful information. I think people have a basic grasp of the Conflux project.
We will go over the answers to questions that members have sent to the VCM team.
Question 1. This year's epidemic and the dramatic changes in the global situation have affected Conflux ? If yes , so how does Conflux respond to such changes?

Mr Cike Wang: Beijing has been sufferd from recent diagnosis of Covic 19 which has repercission on inhabitant and enterprises. Fortunately, we are used to dicentralized working as we have colleagus from all around the world, Nigeria, Korea, Switzerland, Canada. etc for instance. Due to the epidemic situation, our marketing team has to stop every off-line event plan and focus on online activitis.
Due to the virus, people around the world are looking for alternative options for traditional finance more than ever. Inflation is effecting many economies even harder due to this epidemic, USA is just printing more and more money to counter this, and people are pragmatically thinking about the current systems in which their money is stored and used, therfore, some prefere cryptocurrencies compared to their local fiat currencies. Also, if you're in a country where the mobile payment infrastructure is not well-developed or you need to source globally, crypto is one of the best options to reduce the overall time and lower fees.

Mr Hubert: Thanks for your answer. We will come to the next question.
Question 2. One of the biggest problems with DApp is the inactive and useless state. People only create DApps, but there are no use cases or contributions to the blockchain ecosystem. To prevent and solve this problem that may occur on the Conflux platform, what will your team do?

Mr Cike Wang: We have built strong relationships with our communities all over the world. We currently have communities in China (40,000 members), Vietnam (5,000 members), Korea (1,900), Africa (1,600) North America (7,800 members).
We localize our community managers to connect with the local communities better. We host online events so that our community can experience and participate in the development of our ecosystem.
There are three important pillars of a public blockchain: tokens, incentives and community. Tokens are the asset of value, incentives are for stengthening cooperation and the community is for creating value. The underlying technology is the foundation where the three pillars are build on.
In the early stage, Conflux Foundation will allocate budget to incentivize projects to realize their dreams on Conflux Network. An innovative mechanism we have to implemented is the transaction sponsorship, where 3rd parties, developers can sponsor the transaction fees of the users. This is identical to current Apps, where the company pays for the cloud service for the user to use the App. In addition, this will lower the threshhold of people using DApps for the first time.

Mr Hubert: This is a good orientation for the project. We will go to question 3.
What does TPS mean? Why do we need high TPS? What is the TPS of Visa?

Mr Cike Wang: This's good question
TPS= transaction per second
High tps ensures the efficiancy of blockchain system.
By organizing blocks in a novel structure—Tree Graph (TG), Conflux guarantees fast consensus on concurrent blocks in a Proof-of-Work based system. Empirically Conflux has achieved ~3500 tps and ~20 seconds confirmation time. What makes Conflux unique is that it is currently the highest performing POW-based public blockchain in the world.
Conflux strives to prevent illegal transactions – each transaction in the core chain is examined by all nodes of the network. The strict algorithm design and the comprehensive theoretical analysis of Conflux protect itself from most attacks. More importantly, Conflux pursue the efficiency without sacrificing any of its safety, decentralization or trustworthiness as a foundation for a new generation of DApps!
By the way，as I known, the TPS of VISA is around 2000 on average.

Mr Hubert: Wow. This is such a great technology.
Currently, users can participate in Bounty programs to receive FC tokens, but Conflux wallet is used to store CFX tokens, so what should users do to swap FC tokens to CFX? Can I use ERC20 address for CFX tokens instead of Conflux Wallet?

Mr Cike Wang: FCs can only be earned in the current phase before we reach our final stage: Tethys, of our 3-staged mainnet launch. After the final mainnet launches, FCs will be swapped to the native tokens CFX on a 1:1 ratio. In the current wallet you do see CFX, but they are only for mining purposes on the current mainnet phase and may reset anytime we have a network upgrade!
You must use a Conflux Wallet to store FC or CFX. Get Conflux Portal from: https://portal.conflux-chain.org

Mr Hubert: Thank you for providing this useful information for VCM.
Stakes & Mining is now very popular as a discount, so does #Coinflux support anything and what are the requirements? Is there a need to run a separate button to participate in Stakes? For those without technical expertise, how do they engage in Stakes?

Mr Cike Wang: Conflux is a POW public blockchain,mining is the main way to get rewards. Although many new projects chose POS, DPOS as their consensus mechanism, Conflux Network is staying true to the original, computational based consensus PoW, but with a twist, so the throughput can be increased!
Conflux has designed a stake for storage mechanism which also mean staking for incentives. Projects, developers and even community members can stake to receive more storage on Conflux Network. We will have more information released in the upcoming week, so stay tuned an join us our community :D

Mr Hubert: Next is another great sentence.
How many different types of assets can be expected and expected by #Conflux to grow in 2020?

Mr Cike Wang: There are several projects growing on Conflux network now. one particalarly instereting programe is NFT trading marketplace, which will involve various crypyto or realistic assets.
As for cross chain assets, right now we have c-BTC, C-ETh and C-usdt. Today, we just have DAI. LINK (the token of Chainlink) will be listing soon.

Mr Hubert: Well thank you for answering that question very well. This is a new question that I think many of you also want to know. 😉
There are already many Projects which works on scalability with Both Layer-1 and Layer-2 solution ! So, why Conflux Network would be Best choice ?

Mr Cike Wang: The Conflux solution is a layer-1 technology which is not conflicting but complementary with layer-2 solutions such as sharding and side chains.
The design of Conflux is also perfectly compatible with layer-2 technologies. At present, Celer, which is characterized by the state channels, and Matic, which is featured with the lightning network, are both to develop layer-2 network on top of the testnet and mainnet of Conflux. Although sharding technology is sometimes classified as layer-1 technology, it can be applied to Conflux. Conflux solves the problem of increasing throughput without sharding, but with sharding, it can also improve the throughput.

Mr Hubert: The last question is already done. Thank you @cike1 for bringing the above useful information.
Next, the Vietnam Coin Market Community (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The Conflux project will then choose 7 questions to answer.
Let’s go.

Question 1. (Moon Sky) Is Conflux a PoW-based Blockchain and it will need miners to run the Blockchain?
Answer: Conflux is a POW public blockchain,mining is the main way to get rewards.
Question 2: (Moon Sky) You will do an ico? or ieo
Answer: Yes Conflux is POW and needs miners to run
As for ICO, we have concluded our private round already of $35 million, and will not be launching an ICO, IEO, or any public sale event.
Question 3: (Jack) 1.have you done testnet?
2. when will launch the mainnet?
3. do you support mining? if yes which algo do you use?
4.will you support FPGA
Answer: 1\ Yes, we have completed the test-net stage.
2\ Currently, we are working very hard on our mainnet launch which will be in 3 stages:

Phase 1: Pontus- the Conflux Decentralized Finance Solution has been launched

Phase 2: Oceanus- the major focus is mining and the PoW algorithm.

Phase 3: Tethys- be the final and fully functional main-net of the Conflux Network.
3/ 4/ Now Pontus has been running smoothly for more than a month. The next focus will be anti-asic GPU mining and PoW algorithm. For now I would say there is no FPGA mining machine for Conflux.
Question 4: (Thỏ) Currently in Vietnam, there is a very strong development of crypto and a lot of projects have come to Vietnam to develop and create communities, so are you planning to develop projects in Vietnam?
I believe that Vietnam will be a big market for Conflux Chain. One of the most potential decentralized applications Conflux will promote is an autonomous organization aiming at Remittance market. Vietnamese have so many overseas workers. FXDAO on Conflux looks to solve their problems wiring their money home in low cost and quick confirmation, compared to several business days and a high transaction fee at Western Union. Conflux will have more marketing activities toward the Vietnamese Blockchainers. Conflux is building the Vietnamese community here and expect Conflux fans to emerge from the local community.
Question 5: (Kun Kun) In what countries will the Conflux Network program expand?
Answer: We localize our marketing managers to give the community and local partners a better connection and host online and offline events to expand presence. Since Q1 2020 we also have a Global team based in Toronto, Canada and a team in Lagos, Nigeria (Africa)

Next regions we are expanding to are Turkey and Russia, if you guys have any friends from there, let us know :D
Question 6: (Lâm) Why ConFLux chose POW consensus mechanism rather than POS, BFT ... whether POW can guarantee high transaction speed?
We believe it is advantageous for a new blockchain to start with PoW rather than PoS. A new blockchain starting with PoS mechanism will suffer from consensus centralization, i.e., the ledger is determined de facto by few centralized super nodes rather than all participants. A Pure PoS mechanism also faces the threat of long-range attacks, which would require new users to trust a centralized node to join the network and would no longer make the blockchain permissionless.
On the other hand, a blockchain starting with PoW will make decentralized consensus possible from day one. After the initial stage passes, it is also possible to make a transition from PoW into PoS or a composite mechanism. Note that, a common misunderstanding about PoW is to tie PoW with the scalability problem of the blockchain. We often see information in media and white papers like “because Bitcoin uses Proof-of-Work, it can only process 3–7 transactions.”, which creates this misconception. In fact with proper design, PoW consensus algorithms like GHOST and Conflux can enable a significantly higher block generation rate and therefore process thousands of transactions per second.
Question 7:
What is the biggest goal the Conflux team wants to accomplish?
Answer: Powering Decentralized Commerce &
build an open network for a newworld of Dapps/Web 3.0/ finance and blablabla......
Question 8: (Bé Gà) Why don't you IEO for CFX?
As for funds, during crypto-winter in 2018 we have raised 35mio. USD from traditional VCs, such as Sequoia or IMO, but also Baidu and Xiaomi. The traditional VCs invested in us, not only because of our team, but also because of our vision and that they believe that we are the only one able to achieve it. So we have enough fundamental to achieve our goal even if we do not IEO.

Mr Hubert: Thank you @cike1 and Ares Tian for replying to the community. We will go to part 4, the Conflux project will ask the question. Everyone can answer, the best and fastest answers will receive gifts.
Please @cike1 and Ares Tian.

Mr Ares Tian: 1/ Whats the name of our mascot?
Bé Gà: Confi
2/ Which algorithm does Conflux use?
Bé Gà: Pow
3/ What will be the NAME of Conflux mainnet token?
Pon: CFX
4/ How many stages does our mainnet have?
Lâm: 3
5/ What is the NAME of the first phase of Conflux mainnet?
Nami: Pontus

Mr Ares Tian: Thanks a thousand times!!
Don't forget to join our Telegram community:
@confluxvietnam

Mr Hubert: So the AMA Conflux Project at Vietnam Coin Market (VCM) is also coming to an end.
Thanks Ares, @cike1 for joining AMA today.
Hopefully in this direct exchange, the community has a basic understanding of the Conflux project. I am the moderator today. Congratulations to the Conflux project.

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