CryptoBooster X NirvanaChain AMA Recap on July 17th

Updated: Jul 27, 2021


Part 1 — introduction and questions from the Twitter retweet

Mikea Y | CryptoBooster:

Greetings everyone! We are about to start the AMA!

Jonathan Lancaster | NirvanaChain:

Great! Lets start up our AMA!

Mikea Y | CryptoBooster:

So we are ready to start.

Jonathan Lancaster | NirvanaChain:

I am ready.

Mikea Y | CryptoBooster:

Thanks. Could you tell us a bit more about yourself and introduce the project?

Jonathan Lancaster | NirvanaChain:

Yeah!

I’m Jonathan Lancaster, CPO of NA (Nirvana) chain. I used to be a senior R&D director in Apadmi limited. I graduated from Oxford University and majored in computer science. After graduation, I have been engaged in development and technology docking. As an early investor of eth, BTC and ADA and a believer in cryptocurrency, I hope to inject cutting-edge technologies such as machine learning, computer vision and blockchain into Na (Nirvana) chain to improve the popularity of blockchain technology and audience participation. The team was established in October 2018.

All the founding members, including me, have entered the blockchain field since 2013. They have very rich experience and successful cases. Most of the team are technicians. I am mainly responsible for the overall innovation and growth of the project, leading the technical team in architecture design and core code development.

Na (Nirvana) chain is the first public chain to put forward the heterogeneous compound chain model. It innovates and integrates the traditional public chain technology, and solves the long-standing problems of the public chain system, such as congestion, unable to realize compound calculation, and unable to keep the handling charge constant. Through heterogeneous application chain and cooperation of miners at different nodes, it is like viaducts, Dpos + DAG consensus algorithm has successfully realized the accurate data diversion, which brings a faster TPS experience and a more convenient experience for the growing application ecology. It can be said that it is the underlying system of the blockchain specifically for applications.

At present, we have successfully solved the problem of traffic proof through consensus mechanism proof of work / flow. All important parameters, rates and pricing ranges are decided by online voting of all nodes, and the platform is truly maintained by consensus of nodes. In addition, we have launched the testnet at 12:00 EST on June 27,2021, so you can experience the above new functions immediately at our Nirvana testnet.

Nirvana Chain token -NAC is listed at ZBG exchange in June 15,2021 with the listed price of $5.0,and the zbg exchange address is https://www.zbg.io/trade/NAC_usdt

Today, the NAC price is $18.50.

Mikea Y | CryptoBooster:

Great stuff!🤩 Let’s move on to our Twitter questions.

Jonathan Lancaster | NirvanaChain:

Yes. Please go ahead.

Q1. A question about $NAC token, adoption of token to the ecosystem is one of the good things to increase its usability and spend, so what role does $NAC token play to the ecosystem? @Ductrung753951

Jonathan Lancaster | NirvanaChain:

Good questions concerning our token ecosystem.

The total amount of nirvana chain tokens –NAC token is 75 million, a total of 28 million will be destroyed, of which 47 million will be retained, and the remaining portion will eventually be used to reward platform contributors or community governance initiatives.

Nirvana Chain Token-NAC are mainly used for miner rewards, community governance, full node voucher exchange, transaction circulation, etc. Users who hold NAC can participate in community proposals and decisions, and put forward opinions for critical time and fund usage and other important times. In order to fully guarantee the value of NAC tokens, NA (Nirvana) Chain pioneered the unique destruction mechanism and extreme deflation model, using daily destruction, quarterly destruction, annual destruction, etc., to maximize maintenance of NAC core values. The system destroys 100%NAC tokens at one time when the full node voucher is exchanged. 10 percent of NAC tokens are destroyed per year for domain name rental; NA AppStore releases to the App Market and destroys 10% of NAC tokens per year; Transfer fee: GAS, 10% for each transaction.

This the allocation plan of our Nirvana Chain tokens .

Mikea Y | CryptoBooster:

Wow! Very comprehensive reply. Thank you for that.

Let us move to the 2nd.

Q2. Nirvana is the first to propose a heterogeneous compound chain model. Could you explain more details of Nirvana Chain distributed storage system?@Joelmor60923611

Jonathan Lancaster | NirvanaChain:

Good questions.The biggest feature of NA (Nirvana) Chain heterogeneous compound chain mechanism is to use the advantages of each module separately to maximize the advantages, so that other modules can be freed, and each module is responsible for what it does best, just like us In daily life work, each perform its own duties, and each exerts its own advantages in their positions, which will maximize the company’s operating efficiency. NA (Nirvana) Chain is also the same.

NA (Nirvana) Chain heterogeneous compound chain publishes all applications independently on a dedicated instance chain, that is, each application has its own composite chain. The instance chain is composed of a logical chain and a data chain, and the logical chain is mainly responsible for it For the maintenance of consensus, the data chain is mainly responsible for storing a large amount of data, making full use of corporate governance to solve efficiency and data problems, and making system management more organized and streamlined.

NA-Distributed File System is a group of Distributed storage protocols using Distributed hash table technology. DFS indexes data by the content of the file (hash) rather than the path to the file (URI). Large files are divided into fixed-size blocks of data that are distributed across multiple nodes. The main problem with such a system is to strike a balance between redundancy and reliability. DFS plans to solve this contradiction through token incentive mechanism and the establishment of backbone nodes. The user can choose the reliability requirements of the file. The files with low reliability can be stored and accessed for free or almost free. The backbone node (full node) will provide high reliability file storage for the stable and reliable files. DFS will set access rights for these files through the contract. In addition, DFS can be used in conjunction with digital identities to issue, transmit, and revoke digital certificates that record digital identities point-to-point, without having to be managed by a centralized server. In the future, old blocks of data can be stored in the DFS so that most full nodes can release the old data, achieve greater scalability, and ensure the integrity of historical data. The storage price is set by the device owner, and the cost will be paid to the device owner in a step-by-step manner.

Mikea Y | CryptoBooster:

Thank you for the very clear answer, guys please check them carefully.😁

Q3: What was the biggest milestone your project has? What is development plan in the future? @ChrisMauer7

Jonathan Lancaster | NirvanaChain:

We have launched the testnet in June 27th, 12:00 EST,and the first 200 mining machines have been put into evaluation operation in July 5,2021.This is the biggest milestone of our project. It is also the result of the hard planning and development of the team and the full contribution of community members!

This allows us to make timely optimizations and adjustments before launching the main network in the future, and is an important step forward for building a decentralized value network in the future. If the test goes well, we will launch the mainnet version according to the roadmap: NA1.0 will officially open the NVM virtual machine, cross-chain and high-performance computing tasks, and NA2.0 will launch the USDN algorithm stable currency and wallet functions to realize DeFi All interactions between, NFT, smart contracts and digital assets, and can use NAC to anchor real-world physical objects.

All users can also publish custom Android apps with built-in NA wallet functions. When the NA ecosystem establishes a parallel economic system that allows cheap and fast remittances, enabling companies to conduct transactions around the world, NA Wallet officially accesses the payment gateway merchant function. At this time, the NA3.0 phase is launched, and the NA Berry OS is newly launched. It marks that the decentralized Nirvana ecosystem will carry hundreds of millions of business economies.

Mikea Y | CryptoBooster:

Thank you for this.Great to know what you are working on, and the milestones achieved😄

Q4: What makes your project different from others and what are some of it’s practical usecases? @Daniell87773130

Jonathan Lancaster | NirvanaChain:

NA (Nirvana) Chain was established in 2018. It took more than 2 years to study the current situation of the industry and the advantages and disadvantages of the major public chains in the market. Especially now that DeFi and NFT have ignited this wave of bull market, the industry urgently needs stronger Converged public chains to meet the growing new ecological needs.

We have designed a safe, high-performance, high-scalability and low-cost public chain, and through the heterogeneous composite chain model for the first time fusion of Pow/FLOW, DpoS, DAG three consensus algorithms, high-quality structure to ensure that the system is fast and safe It is robust and can be grafted into the safe ecology of Ethereum to enjoy extremely high stability. In addition, NUSD Swap uses NAC as a stable currency in the system, which can achieve a constant fee of 0.01U for each transaction. This is currently all public companies. The technology that the chain can’t reach, or we can create and implement the standard Ethereum, but some innovative technologies have surpassed Ethereum.

Mikea Y | CryptoBooster:

Thanks.

Q5: While you build your project, do you take into account community feedbacks and demands? @Johnson63358975

Jonathan Lancaster | NirvanaChain:

Yes and we have .

Over the past two years since the founding of Na (Nirvana) chain, we have not only put the precipitation of technology, the thinking of economy and the exploration of the whole industry into the proposal, but we know that there are certain limitations. We think that a perfect encryption economy design needs to gather the wisdom of more community members. Na (Nirvana) chain has been actively listening to the feedback and suggestions of the community from the writing of the white paper, to the open source code, to the release of the economic model proposal, and now to the official launch of the Na (Nirvana) chain test network.

Our community is open source, and every valuable opinion will promote the growth of Na (Nirvana) chain, and even the progress of the whole industry! Therefore, we hope that more partners and community members will join us to complete the test of the test network.

Mikea Y | CryptoBooster:

Thank you so much. This is massive news for all of us. It is clear that NirvanaChain has already achieved a lot. But we sure will expect much more to come. 💥🤝

Jonathan Lancaster | NirvanaChain:

Thank you and we would do better and better with the supports from our members .

Mikea Y | CryptoBooster:

Great! Now let’s move on to the next part of our AMA.

Part 2 — live questions from the Telegram community

Q1 from telegram username @Rick

In order to alleviate the problem of network congestion and high gas charges, Ethereum issued the EIP-1559 proposal. What’s your attitude towards EIP-1559? How does NA (Nirvana) chain achieve high speed and low gas cost?

Jonathan Lancaster | NirvanaChain:

The EIP-1559 proposal is mainly aimed at solving the problem of high ETH fees, which can only serve to reduce the cost relatively, but it is also very limited. Because the fundamental problem of network congestion is not the problem of handling fees, but the problem caused by the large amount of data, which miners can not handle.

Nirvana Chain adopts the heterogeneous compound chain mode, and obtains the data processing qualification of DAG through DPOS Worker election, so as to realize real-time data submission. Since the data is submitted in real time, our subsequent fee can be lower. Additionally we solve a very hard problem in the block chain, is the poundage of uncertainty, because the poundage price volatility, it is possible for all blockchain system development to estimate the exact cost of use, but we have adopted the NUSD Swap protocol to achieve a fixed pricing of fees.

Q2 from telegram username @Zlatan

The competition among public chains becomes more and more fierce, and public chain is also very important as underlying infrastructure support. What is the positioning and goal of NA (Nirvana) Chain?

Jonathan Lancaster | NirvanaChain:

NA (Nirvana) Chain has been positioned as a new generation of public chain since its initial launch. It hopes to improve the public chain ecology with its advanced technology concepts, realize decentralized applications with low learning threshold and ease of use, and perfectly transform the traditional technical ecology into a feasible chain application. At that time, we will attract a large number of traditional industry applications to complete decentralization and participate in our public chain ecology. Public chain and technology mutually reinforcing complete the construction of Nirvana ecology and lay a stable foundation for the coming digital world.

Q3 from telegram username @Reinhard

What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?

Jonathan Lancaster | NirvanaChain:

Nirvana Chain is a decentralized infrastructure platform focused on providing a friendly experience for application developers, allowing the support of other public blockchain applications such as Ethereum in the form of cross-chain. From the beginning of research and development, it has been defined as a new generation of public chain ecology. It is considered to be comparable to and surpassing Ethereum and Bitcoin in the new era and is a necessary one-stop development tool.

NA (Nirvana) Chain advocates that “everything is born for applications”, trying to create an ecological solution for the Internet that can be quickly implemented for the construction of an IT information system. Because the founding team advocates that everything is decentralized to ensure the spontaneous operation of the system, especially Set up a miner incentive model to achieve an autonomous value network of resource exchange and transfer. The emergence of NA (Nirvana) Chain enables the Internet to be decentralized again. Its ultimate vision is to empower the transformation of the real economy from the underlying logic and architecture, and become a subversive blockchain application that reconstructs the real economy.

100% decentralization NA (Nirvana) Chain understands that decentralization will always be the core of the consensus and competition of the blockchain, so the core mechanism of the project is to spread around the road to decentralization, and strive to increase transaction speed and low handling fees for users .

Innovative heterogeneous compound chain At the technical level, the project uses a heterogeneous compound chain model to use DPOS to campaign for Workers to obtain DAG data processing qualifications, and realize the real-time submission of millions of data; more 100% decentralized domain name creation and rental platform are extremely practical , Each project can use NA’s platform domain name in different blockchains (such as ETH, BTC or others), and can publish tasks at the same time to find a suitable website and then resolve to the NA public chain to create a decentralized domain name;

Original N++ learning language The original N++ learning language allows developers to master it in 5 minutes. Simple learning makes it easier to attract developers to join, so as to realize the mass production of the project software system in the developer store; NVM virtual machine and advanced smart contracts make complex calculations faster The working method helps developers save time and realize self-timed tasks;

Actor concurrency model The actor concurrency model realizes the calculation of large-scale microservices, which greatly improves the computing power, speed, and avoids waste of resources; distributed storage provides users with intelligent editing under dynamic and static conditions;

Constant transaction fee In order to solve the volatility of the fee price, the project adopts the stable currency real-time exchange protocol (NUSD Swap), using the NAC in the system as a stable currency to achieve a constant fee of 0.01 USDT for each subsequent transaction.

Q4 from telegram username @xili001

At present, Ethereum, DOT and other public chains have their own features and markets. The market has higher requirements for public chains in terms of performance, stability and transaction costs. What are the advantages of NA (Nirvana) Chain compared with other public chains?

Jonathan Lancaster | NirvanaChain:

I’m sure you remember the Black Swan event on March 12 when Bitcoin fell by as much as 50%, and Ethereum and other altcoins, as well as Polkadot all experienced extreme hardship. Especially when the DeFi Ecology suffered the largest on-chain liquidation in history, Ethereum fees soared from 1 Gwei to 200–300 Gwei, with a maximum of 600 Gwei, and transactions with even higher price are not guaranteed be packaged by miners. Polkadot is highly innovative and stable compared to Ethereum, but it lacks security and ecology, and thus many developers still want to build their applications on Ethereum.

With its heterogeneous compound chain model, NA (Nirvana) Chain adopts Pow/FLOW, DpoS and DAG consensus algorithms and provides a high-quality architecture to ensure fast and safe robustness of system, maintains high stability by grafting into Ethereum’s secure ecology, and uses NAC in stablecoin real-time exchange protocol USDN-Swap system as stablecoin, to keep a constant service charge of 0.01USDN per transaction.

These are technologies unparallel to all other public chains. In other words, we created and implemented it with Ethereum as benchmark, but some of the innovations have surpassed Ethereum.

Q5 from telegram username @MasonGreyback

How can users and developers participate in the Nirvana Chain testnet and what are the incentives for participant ?How could users do at the Nirvana Chain testnet ?

Jonathan Lancaster | NirvanaChain:

NA (Nirvana) Chain is launching the testnet and has attracted a number of well-known companies or institutions to become its global validator nodes. The mainnet is expected to be released in the next few months. The testnet being released is the core layer testnet that allows users to test Nirvana’s smart contract workflow which is novel, linked to calculation and supportive for self-timed tasks, experience the fastest transaction most block chain cannot achieve, and complete calculation at lower cost. NFT and commodities trading like stocks and gold are also available in the future. These performance optimizations will dramatically improve many existing blockchain scenarios. At present, many game companies, NFT developers, and DeFi data providers have expressed their intention to deploy on Nirvana network. The list of global nodes will be officially published after strict screening. Please stay tuned!

At Nirvana testnet you can perform transaction and transfer function tests, and use various intelligent functions such as land lease, creation of a centralized market, smart editing (dynamic), USDN-Swap, etc. Developers can also experience application practice and self-task tasks to create applications, and advanced customized components and tools.

Part 3 — Quiz Results

Q1.What the total supply of the Nirvana Chain -NAC token ?(A)

A:75 million B:28 million C:47 million D:150 million

Q2.What’s the schedule for Nirvnan Chain testnet launch?(B)

A:June 25,2021 EST B:June 27,2021 EST C:June 28,2021 EST D:June 15,2021 EST

Q3.What is the listed price of the Nirvana Chain token ?(B)

A:$1.0 B:$5.0 C:$10.0 D:$15.0

Q4.What’s the program development language of Nirvana Chain ?(B)

A:C++ B:N++ C:Solidity D:PHP

Q5.What is the Consensus Mechanism of Nirvana Chain ?(D)

A:POW B:DPOS C:POW+DAG D:POW+DPOS+DAG

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