Partisia Blockchain x IM community AMA RECAP
🐋TELEGRAM AMA: Im Community & Partisia Blockchain 🐋
⏰ AMA Timing : 27th May 2022 l 11:00 AM UTC
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 100 USDT
➡️ The reward pool for the best 5 questions from Telegram is $50($10 Each) 💸
➡️ The reward pool for the best 5 questions from Twitter is $50 ($10 Each) 💸
Bà Tân | : Welcome @Amana_Partisia from Partisia Blockchain ���
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Partisia Blockchain
Bà Tân | : Today our guest is: @Amana_Partisia from Partisia Blockchain
Amana | Partisia Blockchain : Hello everyone! Thanks for having me IM Community
Amana | Partisia Blockchain : I’m Amana from the Partisia Blockchain Marketing team, here today representing Partisia Blockchain. I am working on the KOL and Community Management.
Bà Tân | : Thanks for the introduction.
Bà Tân | : Today’s AMA will have 3 session
Session 1: Project Introduction
Session 2: Question From Twitter (https://twitter.com/IM_Communityitw/status/1529821788128956417) (will choose 5 question)
Session 3: Free Asking (will choose 5 question)
Bà Tân | : Start session 1 AMA.
Amana | Partisia Blockchain : Great!
Bà Tân | : Q1.Can you briefly describe what is Partisia Blockchain ? We would like to know more about it and how it works. @Amana_Partisia
Amana | Partisia Blockchain : Partisia Blockchain is a Layer 1 + 2 which is the world’s first blockchain protocol that supports both public and private transactions 100% on-chain and decentralized. Founded by the co-inventors of MPC (Multiparty Computation) and founders of the MPC Alliance, Partisia is architected and built to create and preserve a free and open internet controlled by the users.
We help blockchain users and developers who care about the future of the free internet to experience blockchain technology, unlike legacy protocols our solutions are revolutionary, built for scale and privacy to unlock the full potential of Web 3.
Bà Tân | : Q2.What are the outstanding features of the Partisia Blockchain project compared to other projects?
Amana | Partisia Blockchain : Good question!
Partisia Blockchain is a layer 1 blockchain that was architected and designed to solve for scalability, insecure interoperability, and to bring true privacy to blockchain. We achieve solving the scalability by having sharding at the protocol and smart contract level. We create the world’s most secure interoperability by utilizing Partisia’s vast historical software libraries of MPC technology, particularly in the field of threshold key management, to create an open source version of fireblocks, where instead of a few private parties managing secret keys, an open network of hundreds of node operators are the entities facilitating the cross chain value transfer and managing secret keys.
We also use the MPC token as refund collateral inside the bridge in case a bridge were to get hacked, there is an automatic refund mechanism built into the network. This design and implementation creates more secure, transparent, and asset backed bridging.
Finally, we bring multiparty computation, zero knowledge smart contracts to market which allow for enterprise adoption of blockchains where massive networks of private data can be computed on in private environments, and the transparency of blockchain can be leveraged without violating and private data requirements. These smart contracts are also available as a second layer privacy service for other blockchains, which creates a built in network effect for the developer communities to leverage our Zero Knowledge, MPC technology without any switching cost. Our partnership with Emurgo, the co-founding group of Cardano, to bridge privacy to Cardano mainnet, demonstrates our built in network effect and strategy to grow our technology usage amongst all the other large developer / blockchain networks.
Bà Tân | : Q3.What are the products Partisia Blockchain team is focusing on developing?
Amana | Partisia Blockchain : Our development is always growing! Some of these are Bridge, wallet, DEX, Launchpad internally We have over 20 dapps in development.
Bà Tân | : Q4.What role does the $MPC token play in your ecosystem? What are the benefits of long-term holding?
Amana | Partisia Blockchain : Staking benefits! MPC is required to be staked for the node validators and is also used for our industry first collateralised bridge which functions as a cross-chain lightning network.
See our tokenomics here
Bà Tân | : Q5.What is the development roadmap of the Partisia Blockchain project at the present time and in the future?
Amana | Partisia Blockchain : Born in 2008, Partisia is the world’s pioneer in MPC technology. We have had many exciting developments since then, here is the current roadmap:
Q2-Q4, 2022, “ZEUS” Mainnet version 3.0
-Sharding with robust cross shard event propagation
-Activity based revenue sharing of basic blockchain service version 1.0
-Zk Node signup and allocation
-Wallet Version 2.0
-Block Explorer version 2.0
Privacy and Smart Contract Language
-Unified Public and Private smart contract version 1.0
-REAL (binary) MPC Available
-Dynamic REAL preprocessing
-Confidential node address lookup and authenticated channel
-Signed ZK output designed for cross-chain ZK computation
Interoperability and Bridges
-Generic BYOC EVM
-Price oracle for EVM version 1.0
-Price oracle for ETH version 1.0
-Price oracle for MPC tokens version 1.0
-Second price auction as second layer on EVM (PoC)
-Dynamic repricing oracle for MPC token staking requirements
Apart from the infrastructure, we are highly involved in helping to integrate the major use cases coming to Partisia Blockchain.
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2.
Bà Tân | : Session 2: Question From Twitter (https://twitter.com/IM_Communityitw/status/1529821788128956417) (will choose 5 question)
Bà Tân | : Question1. https://twitter.com/charliepotz/status/1529977367867047936?s=20&t=xSva47SCXjOL3-uuxws0HA
For years, many have said that no blockchain can solve the blockchain trilemma, but I was amazed to see that Partisia claims it has a model that can. So, what are the three components that make up the trilemma, and what is the solution that they advocate?
Amana | Partisia Blockchain : The Blockchain Trilemma involves 3 aspects — Scalability, Security and Cost.
Currently blockchains are plagued by scalability issues or cost issues meaning it’s very secure like Bitcoin or Ethereum but we can’t have 1 billion users using it because as more people come, it’s not scaling in a way for costs to stay low .If you solve for a scale or cost a lot of times you trade-off as there’s less security. So how do we have an extremely secure blockchain that also scales and can work with all the other blockchains in a cost-efficient way?
We solve the extended blockchain trilemma using sharding for scalability, MPC powered / collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer privacy service for other blockchains.
Bà Tân | : Question2. https://twitter.com/Jolly033/status/1529827762592092160?s=20&t=xSva47SCXjOL3-uuxws0HA
Adoption is a difficulty for any blockchain project, especially at this crucial moment in the market, when many blockchain businesses die because their platforms are underutilized. What is the strategy and vision of your team on this issue?
Amana | Partisia Blockchain : Adoption is a core challenge for all layer 1 blockchains! This is why we architected our solution to be what we refer to as a layer 1 + 2 blockchain.
The layer 1 is the fastest on the market, with private and public smart contract capabilities. But we understand you can’t convince developers to completely move their application to your layer 1 right away. This is why we offer our zero knowledge smart contracts as a second layer of privacy for other networks. By providing value to the existing developer networks, such as the emurgo partnership on cardano, we can offer our service to all ADA devs, and allow them to buy and stake mpc in order to run our private smart contracts for use on their existing dapp. Then over time, we will see the adoption as they move more resources to our network.
Marketing and partnership are really important to any projects because it facilitate to reinforce the incredibility of that project. Can you list several well-known partners? What will you execute to keep long-term holders as well as gamers?
Amana | Partisia Blockchain : We have partnered Emurgo, with the co-founding entity of Cardano, to deploy cross chain zero knowledge smart contract capabilities to Cardano. This demonstrates our built in network effect and strategy to grow our technology usage amongst all the other large developer / blockchain networks. — https://medium.com/partisia-blockchain/partisia-blockchain-partners-with-cardano-co-founding-entity-emurgo-ventures-4ccf19fe11e2
We’ve also partnered with Red.org, one of the most famous charities co-founded by Bono to raise money for charity using NFT’s. — https://medium.com/partisia-blockchain/red-partisia-blockchain-to-host-nft-drop-to-fight-covid-fund-pandemic-relief-a4226ff4fe2e
Another partnership is with Orginall and the African Continental Free Trade Agreement (AfCFTA) Secretariat, to launch healthies, a counterfeit goods detection platform using Partisia Blockchain. This technology will further support the African Continental Free Trade Agreement (AfCFTA) Secretariat, with whom OriginAll has signed an exclusive agreement in its mandate to create a safe trade zone across African countries. With OriginAll’s partnership with 54 African nations, Healthies can be potentially rolled out to over 1.3 billion people.
You can keep up to date on our partnerships here -
Bà Tân | : Question4. https://twitter.com/charliepotz/status/1529977146269380608?s=20&t=xSva47SCXjOL3-uuxws0HA
Partisia Blockchain is a Layer 1 Blockchain that uses ZK privacy to overcome the extended Blockchain trilemma. So why has layer 1 technology been chosen to allow a reasonable solution? Why didn’t they use layer 2 for their needs? What is the logic behind this?
Amana | Partisia Blockchain : As I mentioned we are a Layer 1 solving the extended blockchain trilemma with sharding for scalability, MPC collateralized bridge for most secure interoperability, and zero knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer service for other blockchains.
Layer 1: Consensus and communication layer
Layer 2: Smart contract layer that facilitates the private transactions
Bà Tân | : Question5.https://twitter.com/rendiberentet/status/1529865259632463873?s=20&t=xSva47SCXjOL3-uuxws0HA
I read that Partisia Blockchain is training people to really own their own data with the “Insights Network” association. How does this training work? What are the benefits and how will this ensure transparency and return control of the data to the consumer?
Amana | Partisia Blockchain : We have partnered with Insights Network to launch Instars!
The unveiling of the blockchain-powered social network signifies a nearly four year effort to facilitate the creation of the first decentralised solution that ensures transparency and returns control of data to the consumer.
By combining MPC and blockchain, Instars is a transparent and secure social media platform committed to protecting users’ personal information and data. This unique combination makes it possible to enforce the exchange of data and payment between the provider and the requester of data without third-party involvement.
Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @Amana_Partisia ���
Amana | Partisia Blockchain : Thank you!
Bà Tân | : End of session 2
Bà Tân | : We’ll move on to session 3
Bà Tân | : Session 3: Free Asking (will choose 5 question)
Bà Tân | : Don’t forget to join the group https://t.me/partisiachat
Bà Tân | : Group will unmute now so everyone can ask questions.
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : Now let’s give our dear guest @Amana_Partisia some time to go through them.
Amana | Partisia Blockchain : Thank you!
Ahrix : Please choose the best 5 questions and answer it for session 3, Thank you ���
Q1. Do you plan to cooperate with different blockchain technologies to open the ecosystem and create more trust?
Amana | Partisia Blockchain : Partisia can bring value to other ecosystems who want to access privacy and other features and in turn get exposure to MPC tokens. Other protocols can run on Partisia’s L2 then they will execute the smart contract on their layer 1.
Q2. What is the background, of the your project, team do you think team’s qualifications, and experience, able to support the long-term development, of the project?
Amana | Partisia Blockchain : The Partisia Team has been involved in the research and development of advanced cryptography solutions since 2008. We were the pioneers in delivering the first commercial use cases of MPC (Multiparty Computation). For the first time, multiple parties can compute on encrypted data.
The Partisia Blockchain team today is a small team of under 50. Our team has experience in both crypto and non-crypto projects which is important to any blockchain project.
Read our latest exciting team update here: https://medium.com/partisia-blockchain/welcome-iulia-mihailescu-cmo-39a7c6b884f9
Q3. Q. Projects that are not traded on major exchanges remain unnoticed. What does you think about listing Project on the leading exchanges?
Amana | Partisia Blockchain : We are a new project so listing on exchange is something we are definitely doing in good time! Her eis our recent partnership with KuCoin Labs — https://medium.com/partisia-blockchain/welcome-kucoin-labs-to-partisia-blockchain-d9bf6c1209b3
We will be launching on more exchanges in the next few months! Stay tuned!
Q4. Hi @Amana_Partisia
As you say that Partisia is a first Protocol that offers Cross- Chain ZK Smart contracts,
What is the main benefit of it? Can you please explain?
Amana | Partisia Blockchain : The Partisia Blockchain project provides a complete platform for orchestrating and offering zero-knowledge (zk) computations on-chain, off-chain and across blockchains (inter-chain). ZK computation adds privacy and confidentiality to blockchains in a decentralised fashion (no single point of trust) The Partisia Blockchain approach is blockchain agnostic and focuses on interoperability while facilitating both privacy and transactions across chains.
We bring multiparty computation, zero knowledge smart contracts to market which allow for enterprise adoption of blockchains where massive networks of private data can be computed on in private environments, and the transparency of blockchain can be leveraged without violating and private data requirements. These smart contracts are also available as a second layer privacy service for other blockchains, which creates a built in network effect for the developer communities to leverage our Zero Knowledge, MPC technology without any switching cost.
Q5. I read that Partisia consumes only a fraction of a thousandth of the energy needed to power legacy blockchains, but can you tell us why they consume so little? What mechanisms do you use to achieve it? and these are reliable?
Amana | Partisia Blockchain : This is because we use a new consensus that’s similar to proof of stake called fast track consensus. This uses a lot less energy.
Partisia Blockchain’s Privacy Preserving Technologies is also solving for the world’s largest problems in line with the UN’s 17 Sustainable Development Goals (SDG’s)! Green options are always considered with our Blockchain!
Done thank you���
Bà Tân | : Thanks for the useful information from @Amana_Partisia
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @partisiachat for answers.
Bà Tân | : IM Community, if you would like to know more about Partisia Blockchain ! here are some useful links for you:
Official Website: https://partisiablockchain.com
Bà Tân | : Allright, I declare the Im Community AMA with Partisia Blockchain has ended.
Thanks to @Amana_Partisia | Partisia Blockchain joined us and provided us with Partisia Blockchain information, we hope that this knowledge makes us understand more about https://www.opensky.finance (https://www.opensky.finance/)
To the members, thank you for following this event to the end. winners will be announced soon.