Thank you all for participating in our last AMA on Telegram, in which Prasaga Founder | CEO Michael Holdmann and Co-Founder | CMO Jay Moore answers questions from the community about Prasaga.
Here our #RECAP
Ryan : Hi everyone and welcome to the AMA on Forum Crypto Moonlight Official Group We’re honored to host an Ask-Me-Anything session with PRASAGA
Hii Mr. Jay Moore @TheJayMoore & Mr Michael Holdman @michaelholdmann from PRASAGA, thankyou for having AMA in here.
my name is Muhamad Ryan, I am the moderator of the AMA session PRASAGA
Mr. Jay Moore: Great to be here
Mr. Michael Holdman: Very nice to meet you Muhammad, thank you
Ryan : I will explain a little about the AMA segment this time,
Segment 1: project introduction
Segment 2: Question from Twitter
Segment 3: Live Question on Telegram official PRASAGA http://t.me/prasagaofficial
SESSION INTRODUCTION PROJECT
Q1. Can you explain a little about the Prasaga project to our community?
Mr. Jay Moore: Prasaga is a Foundation based organization that is authoring the DataGrid Blockchain. A new native chain and coin project, embracing developers, miners and token holders.
We’ve designed the next evolution of blockchain architecture. The DataGrid Blockchain (DGB) that actually achieves the promise that all blockchains have aspired to. One that provides the highest level of resistance against attacks. One that rewards its ecosystem of contributors. And, one that, perhaps most importantly, scales in throughput as more resources are added to the network, providing the maximum possible increases in speed.
The Product suite of Prasaga creates an underlying global foundation for all transactions financial and other while protecting individual sovereignty and ownership/access of all assets and state.
Q2. What is Prasaga plan for global, what is Prasaga goal now, in the field of development or marketing?
Mr. Jay Moore: We have already begun our outreach to HyperLedger developers and recently showcased our technology in a large India event. We will be at many international events like HongKong Blockchain Week, but our true strategy is to build up our DataGrid Collaborative.
We have built an entire organization around partnerships and the need to engage, educate and support developers. The DataGrid Collaborative is just that a way to engage partners from global enterprises to local blockchain incubators and miners, developers and token holders.
We have launched our first DataGrid Collaborative Lab in the Philipines https://t.me/Prasaga_DGCLabs_PH
Q3. How does Prasaga generate income to support your project? Why is this profitable for both your investors and your project?
Mr. Jay Moore: We will primarily be focused on our Foundation and building mainnet as our decentralized solution for all a broad range of innovative applications. We have also established our Enterprise division that will license our XBOM technology to the HyperLedger community and that revenue will also support the Foundation. We have testnet running on Hyperledger which if you are a developer you can explore by going to https://www.xbom.io
Q4. Partnership seems very important. What is the status of Prasaga’s partnership? Can you share some of the partnerships you have formed with blockchain foundations that have been around recently?
Mr. Jay Moore: We take a very strategic approach to partnerships and we will be announcing most of our current partnerships in Q1 2021. We have established strong relationships in industry standards and consortiums as well as with top level blockchain teams that will assist us in reaching our goals with both DeFi and our mainnet launch of our token. We look forward to more localized partnerships with the DataGrid Collaborative.
Q5. Most users care only about the immediate benefits rather than the actual long-term value of the project. How can you convince users to invest in your platform over the long term?
Mr. Jay Moore: “Your phone, your computer, and your smartwatch all have operating systems that make it easy to develop for and to use. Easy is good. But the Blockchain is hard. We need the Blockchain to be easy. XBOM makes it easy to develop for and to use the Blockchain.”
– Michael Holdmann
We believe the reasons you will want to invest are actually the key things that make DGB a better developer and user platform.
1) XBOM allows us offer greater ease of development
2) Empowers our consensus and radical improvement to Smart Contracts to truly scale.
3) Our community driven monetary policy is designed to build a stabilized currency for a method of exchange.
So: Speedy, Easy and Stable. Will win the blockchain race long term.
Our commitment to staying decentralized in our governance and the ability to scale as more resources are added to the maximum capacity the internet allows will make us a the blockchain of choice in enterprise and consumer applications.
SESSION QUESTION FROM TWITTER
Q1. From @Magnatech_ve Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects
they fell victim to this, costing users funds. How efficient and secure is your smart contract?
And have you ever audited it through an outside party?
Mr. Jay Moore: Thank you Magnatech. Our DeFi Smart Contracts will be fullly audited prior to implementation, we are doing diligence on the several firms now.
As a Layer 1 native Blockchain, upon mainnet which we expect many DeFi projects to convert over, the answer is a little dfferent.
The XBOM creates a message-passing inheritance model facilitating code reuse for code already loaded on the blockchain. This is a significant improvement over trying to use a library model with adhoc APIs. The XBOM currently implements a single inheritance and interface model, but will be further expanded to a multiple inheritance model. A significant result is that the code for each class in an inheritance tree is the exact same code, not a copy of it, thus eliminating accidental introduction of bugs and malware.
Q2. From @Meka83325887 Prasaga is based on a phrase called “people, planet and profit”. How does Prasaga encompass these three terms in a data flow ecosystem and how can this evolve according to changes or market demands?
Mr. Jay Moore: The term dictates the data flow,
People is always first, It is YOUR data, and YOU should control and profit from it.
Planet is second, and the data flow will allow us to understand and control or automate all of the systems in the world to make them all efficient as contribute to our growing climate issues.
Profit, ONLY if the first two can be met can there EVER be profit
Q3. From @Maharanigis Is it possible to store physical assets on blockchain? What kind of physical assets can we store and Is there any charge required like rent cost? Please elaborate more about it!
Mr. Jay Moore: Hello, Maharanigis, it is not possible to “store” physical objects on any blockchain, what is possible however, is to create an object which represents a titled property, house, condo, car, diamond, and all of its attributes.
When a property is sold, the object in you account on the blockchain representing that titled property is transferred to the other entities account on the blockchain giving full possession of title and we would hope you gave the physical property as well.
Q4. From @untillthemoon I found that Prasaga use eXtensible Block Object Model (XBOM) to audit and immuting chain so be more open and accessible value chain. How safe is it model seeing its open nature? What audit methods does Prasaga use?
Mr. Jay Moore: XBOM is not an audit and immuting chain, immutibilty is part of the consensus and blockchian, as the blocks are built the more nodes/copies of that block there is, the harder it is to chage any given transaction, hence immutable.
Now auditing is a different story, we speak of audit trails being autonomous in our Automotive supply chian medium post https://medium.com/@michael_11858/automotive-supply-chain-visibility-5816dcaa42d5
In currently process for supply chian, information such as meteralogical test results on a part that will be used in a safety system in the automobile is faxed and filed to the auto manufacturer.
With the DataGrid Blockchain and XBOM, the cert would now be in a stored in a database and the part manufacturer would create an object which gives reference to the cert and place in the Auto Manufacturer account. When the auto manufacturer would then assembles and sells an auto, they create a containment tree (all of the parts and and relative references to title and other informatino as objects that make up a singe auto) and transfer that containment tree to the new customer.
Now if anything ever happens to the auto that need warrenty work or safety inspection, all the proper data and regulatory complliance for every part is intrinsic in the customer account allowing a full audit to the raw material supplier.
Automotive Supply Chain Visibility
By: Rich Phillips, Prasaga Advisor
Q5. From @DuniaBulet You say that data is a ‘new oil’ nowadays. What makes you think like this and how does Prasaga use data to develop his project?
Mr. Jay Moore: Data, is what fuels the incredible valuations in FaceBook, Google, Amazon etc. What the DataGrid Mission is to put the control and access of that data into the hands of the people that produce it and allow them to create revenue from it as opposed to giving it freely to other for that purpose.
SESSION FREE ASKING
Q1 From @zetly12: Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one?
Mr. Jay Moore: The DataGrid Collaborative is establishing Labs regionally around the globe. We will engage with Ambassadors as part of those Labs. We are looking for those who really understand our blockchain and can speak well with developers, miners and token holders. They should also have strong connections in the blockchain communities near them to help us forge productive partnerships.
We will also be working with Champions who can assist us on social media and with out reach regarding the DataGrid Blockchain and DataGrid Token. These individuals will be both influencers and those who can articulate well our mission and vision.
Q2 From @zetly10: You said that “Our decentralized governance allows One person one vote”. Could you please explain it more clearly? How the Governance work on Prasaga?
Mr. Michael Holdman: A) This is one of the main concerns we had in design of the overall ecosystem and another reason it was 3 years in research and design of the project.
The founding team believes that we should not be involved in the oversight of the DataGrid Blockchain and believe with our design, should realize that within about 4-5 years from mainnet.
We have to bootstrap the initial structure however, we also DO NOT believe code is law, been doing this for 5 decades and have seen too many failures with this attitude. Rather, governed code IS law and that is how we designed the DataGrid Blockchain.
To enable one person one vote we rely on the XBOM tech, where YOU have an account on the blockchain, protected by a Unique 512 bit string. In this account you can hold any identifying certificate that issued by a accepted authority that proves you are a identity anonymously, we dont need to know who you are, only that you have the right to participate in the transaction.
Prasaga Foundation has created a system of recommendation bodies that will have subject matter expertise in matters of money supply, incentives, economics, technology which will recommend to the community a change in the system. NO changes are implemented without Majority or Super Majority of the community voting for the change.
Q3 From @Typhudollar: As Being permissionless, doesn’t this imply that any one can do anything on YOU ECOSYSTEM AND thus expose you to security threats, sybil attacks and 51 % attacks as recently ETC experienced 51 Attacks and they are permissionless
Mr. Michael Holdman: A) We have architected our native chain to give the same security (hashpower) of a bitcoin (single chain) to be distributed across multiple chains producing blocks in parallel. For instance 20,000 miners working on a block is the same hashpower created as 100 parallel synced chains with 200 Validators (miners) regardless of blockrate of each, the hashpower required for a 51% attack is now for the entire synced validator pool just as on Bitcoin. So we can now have different speed chains, with some of those chains at a rate of ~10sec. blockrate enabling in store Point of Sale (PoS) terminal transactions.
We estimate 16mb blocksize with average transaction of 100bytes, this will equal 10,000 transactions per block/10Sec. or 1,000trans/sec. With 10 blocks running every 10 seconds and staggered to publicize block every 1 second DGB will enable Crypto Point of Sale.
Our Verified Random Function creates a collusion resistant chain and DGB also utilizes the Proof of Stake (hybrid) BFT, as stated many times, we mitigate the faults of each by including both.
Security >/= to with more resources
Q4 From @Redoalv: Almost all blockchains had there ways to solve the three major problems of blockchains, trust, speed, and cost. How will Prasaga solve it and maintain a position in crypto space?
Mr. Jay Moore: 1) We provide scaling beyond any other blockchain with XBOM
2) We are easier to develop and use as we have an operating system running on the blockchain.
3) We have a monetary policy that will stabilize our currency.
We have built a more efficient hybrid PoW/PoS that will be leveraged by our XBOM with our parallelization as you add more resources to the network it continues increase in speed. Giving us the maximum transaction rate allowed by the bandwidth of the internet.
If you have the fastest, most secure and stable blockchain it is others who will need to compete with us.
Q5 From @VictoriaBTC20: Why we choose $DGT and why hold it for long term?
Mr. Michael Holdman: We will start as a deflationary economy as we will need to mint mint mint to get enough $DGT in circulation to allow global commerce for items every person uses in their daily lives. This is when we believe we will see the greatest value increase in $DGT.
Once we hit that level of minted $DGT which we believe will produce up to 144x in increase $DGT value in 10 yrs. or less, we will move to our inflationary currency stabilizing monetary policy
Mr. Michael Holdman: Stay tuned for our announcements on Community Presale Whitelisting and our Staking and Farming strategies.
Ryan : Thank you everyone for the questions and giving up some of your time to learn about us, we are very humbled. Please do follow us and let your networks know about @prasagaofficial and the DataGrid Blockchain project.
AMA Crypto MoonLight x PRASAGA has finished
thank you sir @TheJayMoore for attending this event. I hope all this knowledge will make us understand more about PRASAGA
to all members I thank you for participating in this event.
see you next time, and we will announce the winners later.
Prasaga Website: https://www.prasaga.com
XBOM Developer: http://www.xbom.io
Telegram Channel: https://t.me/prasagaofficial
Commercial WP- http://prasaga.com/overview