Recap: KAI <> Bitbns Telegram AMA

Bitbns hosted an exhaustive AMA session on KardiaChain having Ms Astrid Dang, Head of Marketing and Partnerships, KardiaChain as the special guest who addressed the community QnAs on Bitbns Telegram Community.

The AMA event had 4 major segments:

1. Group admin and KAI team Introduction and Questions from the admin.

2. Questions from Twitter

3. Community Q&A (Round 1)

4. Community Q&A (Round 2)

— — — -AMA BEGINS — — –

SEGMENT 1

Introduction and Questions from the admin

Admin:

Good evening all! We have @AstridnDAG as our guest for today’s AMA from the KardiaChain Team.

Hello @AstridnDAG and Welcome to the Bitbns community!

Astrid:

Hi everyone, great to be here today!

Vaibhav Seth (admin):

So, Let’s start with round 1 of today’s AMA

Please give a brief introduction about your background and KardiaChain?

Astrid:

We’re eager to expand our community to the Indian market. I’m Astrid dang, Head of Marketing and Partnerships at KardiaChain. I joined the KardiaChain team in early 2019 and have been a core member since then. Before joining KardiaChain, I have experience in working at a leading Vietnamese VC and crypto marketing agency, then an IT Business Analyst at the biggest software company in my country FPT Software. These experiences got me the skills and acumen in business and technology that is vital in the blockchain environment.

About KardiaChain: KardiaChain is The First Decentralized Interoperable and Self-Optimised Blockchain Infrastructure. We aim to push the current boundaries by solving one of the most prominent challenges facing blockchain technology — fragmentation of the blockchain ecosystems.

Our goal is to create a unified platform that combines all participants’ collective strengths to lay the foundation for global blockchain mass adoption.

Vaibhav Seth:

That’s perfect! Having someone with such vast experience, we will surely reach a larger audience.

So, what do you think are the key utilities of KardiaChain?

Astrid:

Thanks for the question. I would love to share about our unique technology here! KardiaChain is basically a blockchain infrastructure that helps connect other blockchains.

With our non-invasive cross-chain technology, KardiaChain operates as a data conduit that allows cross-chain communications between public or private blockchains regardless of their protocols. KardiaChain can transfer both assets and data without requiring any change on participating blockchains.

It means developers can build cross-chain applications on Kardiachain with ease. Our unified infrastructure helps solutions run on multiple platforms by enabling interoperability among them and making the implementation as straightforward as possible from the developer’s perspective.

KardiaChain Mainnet: Our unique interoperability between all blockchains, regardless of protocol and without assimilation, enables KardiaChain to be a backbone of Web 3.0.

3 Key advantages of KardiaChain:

– Solving blockchains common barriers without trade-off for security, privacy, or speed.

– 10,000x cheaper fees than most market offers.

– KardiaChain smart markup language (KSML) allows developers to build and deploy DAPPs across any blockchains regardless of their native language.

Vaibhav Seth:

Sounds Perfect! This utility indeed excites a lot of web 3.0 and blockchain developers from our community.

My next question is “The First Interoperable Blockchain in Vietnam and Southeast Asia ‘’ This line is mentioned on your website kardiachain.io, In what ways are you specifically targeting the Vietnam and SouthEast Asia market?

Astrid:

I would love to add another impressive statistic in the last question! We launched our mainnet on 29 Dec 2020. After a half year, we obtained 260,000 addresses, 3M transactions, 2500 contracts and surpassed $350M in market cap!

Thank you for the great question. SEA is one of the most important regions in the world: both in strategic geographic-political regions and economics.

Vaibhav Seth:

Alright!

What’s in the pipeline for a future release? How many projects are there?

Are you planning to expand further from the SEA region?

Astrid:

The KardiaChain team gathers people from all over the world. Our team are Vietnamese living in the US and UK, coming back to our home country to build our own country. Therefore, we build the products targeting Vietnamese users, bringing them the benefit that blockchain can bring about. On the way of serving our local users, global users can also participate and experience our products such as KAIStarter, KAIDEX, Mainnet Explorer, KAI wallet, KAI extension, KAI Membership, Youth Union…

The majority of our investors are from the US and UK markets too. I think we started with Vietnam to become the household name in the country, which makes us become the lighthouse and a concrete example for neighbouring countries and the region.

You can see that not many blockchain projects are there that can partner with leading enterprises in the home country like KardiaChain:

Vaibhav Seth:

Wow! There are a lot of products in the KardiaChain ecosystem

– KAIStarter

– KAIDEX

– Mainnet Explorer

– KAI wallet

– KAI extension

– KAI Membership

– Youth Union

Users from the Bitbns community would love to explore them all!

Astrid:

We have partner from Top 1 Taxi operators in Vietnam “Mai Linh Taxi”

Top entertainment corp like Yeah1

Top conglomerate Geleximco

and many more that I can share later!

Haha, thanks for the attention! We’re excited to see our product list here.

Vaibhav Seth:

Perfect! Should we move to the second segment of the AMA?

SEGMENT 2

QUESTIONS FROM TWITTER

Admin: I have picked a few questions from Twitter.

Astrid:

I’m all ready for Segment 2! Go Please go ahead @vbhvsth ❤️

Vaibhav Seth:

Alright..then!

So, the First question is from @RAJA50505

Kardian Blockchain has practical applications for several industries, such as data storage but many don’t understand what it really is? How do you encourage people and businesses to adopt blockchain?

What is the difference between dual node and cross-chain?

Astrid:

Let me correct the user on the first question. We’re NOT a data storage project ?

We build blockchain infrastructure for cross-chain connections via our Dual Node technology.

If it’s for data storage, please take a look at Filecoin, StorJ and so on.

Now about the adoption:

We always thrive to achieve the biggest challenge in the blockchain industry which is adoption. There might be some blockchains that can achieve 1 Million TPS, but what really matters is the “T”, not the “S”. Because you need USERS to have the “T” — transaction.

That’s why we launch our infrastructure which is convenient to all users and partner with big enterprises to bring their enterprises’ users onto the blockchain in a seamless manner.

How is it Convenient?

-KardiaChain is 10,000–100,000 times cheaper than ETH, 5s confirmation time, 6000 TPS

Vaibhav Seth:

That’s impressive! I will make sure the message is conveyed to the user.

Astrid:

To answer, “What is the difference between dual node and cross-chain?”

KardiaChain can operate as an independent public (or private) blockchain similar to Ethereum. But more than that, KardiaChain can use Dual Nodes technology to build the “bridges” to other blockchains like ETH or NEO or TRX to create a blockchain or blockchains, or you can imagine the universe with many planets and satellites.

Dual Node is capable of a “non-invasive” connection. It means that the participating chain DON’T have to adhere to our own protocol to be connected via KardiaChain network.

Vaibhav Seth:

Great! This is good for making any token cross-chain offering more benefit to the community.

The next question is from @ashgod_15

“What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?”

Astrid:

A road map is important in any blockchain project. for KardiaChain, we keep both ways:

– Developing our infrastructure, optimizing our infrastructure, maintaining and expanding our collaboration with big enterprises, and trying other industries. (We already appeared in E-commerce, Transportation, Entertainment, Esports, Yield Farming, Real Estate, … and aspire to appear in many other sectors.)

– Be sensitive to the trend. E.g. Right now we’re focusing on the partnership with NFT game businesses.

— —

Some of our goals for 2021

1. Listing on other T1 exchanges

2. Mainnet 2.0 with fully functional dual node, KSLM, cross-chain data transferring, and expanding its ecosystem (kaidex, cross-chain swap, defi, nft…)

3. 1M active users and over 100M organic transactions

https://docs.kardiachain.io/docs/userguide/mainnet-userguide

Vaibhav Seth:

STAKING’’ is one of the STRATEGIES to ATTRACT USERS and HOLD them long term.

Does Kardiachain have plans about Staking?

@Yash_0234 has asked this question.

Astrid:

We already had a Staking model around our Mainnet launch. We have 20 validators in our validator list. Most of them are big enterprises in the nation who put their belief in joining our network and securing KardiaChain. Let me give you a calculation:

We have a total supply of 5B KAI,

2B circulating supply,

1B is in staking pools, it’s half of the KAI amount in circulation. A big portion of our users are long term investors and would like to go further with our team.

Furthermore, 2 yield farming platforms are supporting KardiaChain exclusively, you can farm KAI pairs in many pools and earn relatively high APY via summer.kaidex.io

Vaibhav Seth:

Hi, I have a question about competitiveness. Could you elaborate more about how your tech could excel and be unique compared to other interoperability projects like ICON or Cosmos?

@AnkitGu80831469 has asked this question

Astrid:

Thanks, this is a common question that we often encounter.

Let me explain it.

First of all, KardiaChain and Cosmos though focus on Interoperability, we do not compete because KardiaChain helps businesses to adopt blockchain easier while Cosmos focuses on existing public blockchains or parties who already adopt blockchains and want to link those blockchains to other blockchains. We are aiming to blockchainise the existing services to add more value; for example, when users who already have a tipping demand for streamer, KardiaChain will help bring the activity on blockchain to make things easier, transparent and more attractive.

We have already launched the Dual Node testnet and will launch the Dual Node mainnet soon.

As I mentioned earlier: Our tech beauty lies in the word: “Non-invasive”

“Non-invasive” interop means participating blockchains (ETH, NEO, TRX etc.) don’t have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to the NEO tech team, they don’t even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocols.

Another example is Cosmos, which doesn’t have strong requirements, but still requests other chains to conform to their IBC protocol.

For the second part of your question, since KardiaChain supports cross-chain operations through smart contract, we need to add some CISC instructions like “hold-and-release-at-certain-time” which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these commands in the smart contract, whereas in ETH they can’t.

Vaibhav Seth:

Awesome!

For cross-platform exchange, does KardiaChain use an escrow type of account to secure the fund before the transactions on both chains occur?

how to mitigate the risk of 51% attack? 51% attack tends to happen more frequently with the chains that do not have enough hash power.

Last question for this round

Astrid:

Yes sure

It’s a technical question if I could say!

After implementing our decentralized cross-chain bridge, assets on other chains will be converted into KRC20 tokens using a multi-signature lock-and-mint mechanism. The original assets will be locked on their side and an equivalent amount will be minted as KRC20 tokens on KardiaChain, after more than ⅔ dual node validators signed and executed. We have already designed the fully decentralized technical flow to protect the locked assets when generating the mutual multi-signature key, locking-minting assets on both sides, migrating assets when validators set changed and regenerating the new key after that.

KardiaChain network neither suffers the risk of 51% attack nor rely on hash rate like other PoW blockchains. KardiaChain is a BFT-dPoS one, the block proposing process of a validator is observed and monitored by all other validators on the network. The block is only finalized and added to the chain after receiving more than ⅔ committed votes from the validators. It means attackers need more than 66% voting power to manipulate the network themselves. The stake of validators will be slashed, they may also be jailed for any misbehaved conditions.

Vaibhav Seth:

This is just perfect!

Astrid:

Thank you!

SEGMENT 3

COMMUNITY Q&A (ROUND 1)

Crypto Lover:

When I restore Kardia Wallet on another device using recovery phrases, then many addresses appear.

Why?

Astrid:

It’s the customer support question by the way.

They are all derived from your seed phrase, with continuous indexes, counted from 0, 1, 2, etc. The default address you restore on another device is the address derived with the index 0.

Sushant Gupta:

-> What are the Governance norms for kardiachain in Vietnam?

-> Future goals for 2022

-> How safe is staking in Kardia and how do you choose validators and proposers ?

-> How is Coin burn done ? As this has been a controversial question in the past .

-> Establishment and adoption strategies for India ? NFT is new to India. This could be an advantage for the Kardiachain to explore ?

->Can we see the addition of FIPs and Bitdroplet in Bitbns for Kardia more often?

Astrid:

I like this thread of questions. Thank you Sushant Gupta.

The prime minister in Vietnam declared that blockchain is 1 amongst 4 essential technologies to develop. Although we don’t have a fixed framework for cryptocurrency and digital assets yet, our government is open to listen to the blockchain industry and is aware of what benefit blockchain can bring about.

For India market, we know that this is a potential market with the population rank #2 in the world, tech-savvy and have a decent world’s trading volume. We will expand more in India to have a robust Indian KardiaChain Community.

Emilia:

Can the KardiaChain team introduce me to another function in detail: How does interoperability (interoperability) such as NEO-ETH-TRX work?

I saw on your platform that one of your ecosystem products is “ESWIM”. Can you explain what is the role of ESWIM in Kardiachain ecosystem & How it works?

Astrid:

ESWIM is Elastic Sharding With Incentive Mechanism. ESWIM technology ensures high efficiency optimization for transaction routing between participating blockchains. It also maintains an appropriate number of staking power & nodes and the main network. This is done using transaction fee commission and adjusting block reward distribution.

There is another great term “KSML” Kardia Smart Contract Markup Languages. I advise you to look into it as well. Smart Contract Markup Language (KSML) is an innovative tool for developers to efficiently deploy cross-chain smart contracts on KardiaChain. All this happens without the need to go through a significant learning curve or wait time.

KSML aims to break the language barrier between various smart contract platforms. It combines the collective strength of all participants to create a unified ecosystem. In order to lay the foundation for the inevitable blockchain mass adoption. Of course, a single project cannot solve all technical hurdles on its own.

I think we can reach mass adoption in a very good way. We have-

1)Strong business network and partners which are highly proven and

2)We have innovative technology which is suitable to do that (non-invasive cross-chain), also

3)We are the platform, not just protocol, the expansion ability is huge to scale.

Let’s take a look at 20+ projects issued on KardiaChain: explorer.kardiachain.io/tokens

SEGMENT 4

COMMUNITY Q&A (ROUND 2)

Rakesh Pawar:

My DeFi PET is a really adictable & trending game. Will there be more such games available in future on KardiaChain?

Astrid:

Sure thing haha! If you notice the Segment 1, I have made an example that we will launch more NFT games.

Just announced some min ago: We launched FishCoin game, and more in the pipeline:

Catch FishCoin If You Can in this DeFi Summer with KardiaChain

Let’s start our #DeFiSummer blockchain gaming sector with a BANG! Here comes our next DeFi gamification investment project, FishCoin.

FishCoin is developed by the promising start-up game developer, 1B Studio and KardiaChain Labs. In the gameplay sense, FishCoin is a social casino game with the ever-famous fish shooting mechanic. The ultimate goal is to “catch the fish” and win the in-game Gold to turn into KAI. The Gold can also be bought to provide users more bullets to shoot the fish and earn the Gold according to the rewards of each fish type.

A fish shooting game concept is relatively familiar to most people who play to earn through video games. Especially in Vietnam, this genre is one of the most famous video games among the mass population, which would contribute greatly to the exposure of blockchain subtly into the mind of everyone. However, these kinds of video games can be easily exploited via hacking and cheating. With the advantages of blockchain technology, its integration into FishCoin system assures players’ assets during the top-up and cash-out process to be secured by recording the data in the blockchain ledger.

Therefore, FishCoin is the best medium to introduce non-crypto users to the concept of blockchain technology without having them participate in crypto usage and connect everyone in both entertainment and financial sense. Last but not least, with the fast settlement speed and low transaction fee from the KardiaChain network, players would experience the gameplay to the fullest even with all the buy-in/cash-out transactions happening in the blockchain ledger.

READ MORE:

Get ready to play and farm with FishCoin: https://fishcoins.io/fishcoin/.

FishCoin is also available on Kardia Wallet Dapps tab.

Enjoy our exclusive DeFi Summertime Happiness at: https://summer.kaidex.io/

Dark:

To what extent have the recent bear market affected project development and how have you been able to survive this longest bear market and continue building and developing?

Astrid:

To be honest, we are always busy doing our products to grow our ecosystem.

Our demand increases, hence the token value.

We focus on the token utility: to be used in many use cases. You can see the list of projects choosing to build on KardiaChain KRC20:

Astrid:

I think I have covered most of the questions here.

Vaibhav Seth:

Thank you for joining @AstridnDAG here today at the AMA (bitbns community)!

KardiaChain looks like a strong project. Bitbns users can join @kardiachain_india and @kardiachain to know more about this project.

Astrid:

If you have any more question, please join our Indian Kardia Group for further details: @KardiaChain_india

Thanks a lot for today, Bitbns family ❤️ Stay safe and Stay strong!