Part 1: Basic introduction of TOP Network project and guest Noah Wang, Co-founder of TOP Network
Mr.Bụt:
How are you today ?
Mr.Noah Wang:
All good, looking forward to give your group as much value as possible and introduce you all to TOP Network
Though from what i understand, some of you are pretty familiar already
Alright,first let’s start with the project:
TOP Network is a decentralized blockchain ecosystem composed of 4th-generation public blockchain, DApps and decentralized communications services.
We are proud to spearhead the 4th gen of blockchains and believe that we will be able to disrupt communication protocols in an extreme positive manner, with our offering of technology and userbase
About me personally:
Well a little over three years back I was woking as a manager in a big silicon valley company, I had some idea as to what bitcoin was, but when I met steve and taylor (our cofounders) I understood the true potential of blockchain technology, that was when i left my job to start working on TOP and it has been the best decision i have ever made
Mr.Bụt:
Wow, so you gave up a familiar job to enter a whole new field
Mr.Noah Wang:
Yes but you know…the heart wants what the hear wants
I couldnt say no to building something from scratch in an exciting new field
Mr.Bụt:
Ok so we’ve got an AMA today and you’re the center for this AMA
So what about you @Rachelqiu123 Can you briefly introduce yourself?
Ms.Rachel:
Hello everyone, thank you for having me here today
I’m the marketing director of TOP Network
Noah makes the direction of how TOP Marketing goes. And our team and me will excute his plan
Mr.Noah Wang:
and she is awesome at her job
Ms.Rachel:
Because of your leadership, so we can do good job
Mr.Noah Wang:
yeah..blessed to have a briliant team
Mr.Bụt:
Yes, we can go on.
Part 2: Noah Wang will answer questions from the community selected from the form Mr.Noah Wang
Mr.Noah Wang:
Shoot!
Ms.Rachel:
Yeah. TOP Network is going to have some good news to community. Noah gonna share with you guys later
Part 2: Noah Wang will answer questions from the community.
Mr.Bụt:
We will come to the first interesting question.
Question 1: Many projects use DAG technology such as Vite, Coti, Ferrum…, so how are DAG’s TOP Network different to them and what its advantages bring to?
Answers:
Mr.Noah Wang:
There is a difference at the technological level
The TOP chain is the industry’s first public chain based on Lattice-DAG (dot matrix DAG)
It can quickly provide deterministic and irreversible consensus results within a certain period of time. Its horizontal and vertical expansion capabilities can support large-scale business on-chain,so why did we do this?
Full-state sharding is at the core of what we offer our DAG structure helps us to fully leverage sharding which the other structures don’t
Mr.Bụt:
So TOP’s DAG technology chain seems to dominate over the rest Mr.Noah Wang
Mr.Noah Wang:
That’s the idea!
Question 2: What are the main reasons for combination pBFT-POS consensus mechanisms and how do they work in Top network?
Answers:
Mr.Noah Wang:
Good question
So if you want a detailed explanation, our overseas pr director did a very good video on our youtube channel which i encourage you to check out but to give a brief overview, scalability is a big problem in the space
Other projects have sort of answered this problem, but in the process they have compromised on decentralization
we wanted to provide scalability along with decentralization and security …which is why we have combined pbft and POS
pbft is fast, but not completely secure
POS like POW is secure, since it forces people to have some skin in the game, however, our POS is a special kind of staking algorithm called comprehensive staking
In traditional staking., the system is geared towards the rich, the more money you have, the more tokens you can buy and more voting power and validation power you get
which means, you get more rewards as well, in other word, the rich get richer
However, we wanted to flip this around and create a system where the honest get richer
to do so , we look into parameter beyond stake such as… what is the work history of the node? have they been available throughout? have they been known to have downtimes?
we factor in all these things and give honest nodes preference over the rest
So in summary, if you do good work, you get rewarded!
Question 3: I see in your website, there are more 975m TOP staked (about 17%), so what make this increases rapidly everyday and how to encourage users continue staking TOP?
Answers:
Mr.Noah Wang:
So, staking in our network is very important right now since, we will launch our mainnet the moment we hit 2 billion tokens staked, the community is excited about that so they are participating very enthusisastically.
So why do we have the 2 billion TOP mark?
We want our network to be secure and decentralized before thirdparty developers can come in and start creating their applications. This is why, to prioritize security, we want a certain level of stake to be reached before we move forward.
Question 4: What are the main Competitive advantages of #TopNetwork Blockchain?
Answers:
Mr.Noah Wang:
We have a big competitive edge because of our technological advantage and our USP.
Like i said, our advantage like in the fact that we are a 4th gen blockchain that mixes in technology with user base, the problem with the current platforms is that they hardly have any users
Has any of you checked dappradar?
Projects struggle to get in 1000 daily users, which is very abysmal the top team, has previously worked on three landing applications with more than 100 million overseas users Dingtone, CoverMe and SkyVPN they are already in the top ecosystem but we will migrate them to our chain once our mainnet upgrades, we will port the users in stages.
So theoretically speaking, we will be the only public chain in the world with over 100 million users.
Can you imagine as a developer, if you can just attract 1% of this users base to your dapp?
That’s pretty immense
This is the biggest advantage we have over our peers.
Mr.Bụt:
It seems TOP is taking over all aspects from the user to the current technology
Mr.Noah Wang:
we have to..otherwise we wont be able to give our developers the platform they deserve
Mr.Bụt:
We will go to the final question in part 2, everyone prepared the question, after the answer from the guests. Group will be unmute within 1 minute
Question 5: You are an established and well-known company? So why you need to do AMA? We really curious to know that what is the main purpose behind that?
Answers:
Mr.Noah Wang:
Simple, we love connecting with communities!! The strength of a project lies in its relationship with different global communities
Plus, we are constantly working with new project parties and ama is the best way to introduce both parties to the public.
Also, it helps our communities to learn and grow!
Also, before we move on.
We have a big announcement to make, we have recently partnered with a big Fortune 500 company!!
We cant reveal the name yet, but i am so excited about this that i had to let you all know
Ms.Rachel:
Yeah. Haven’t officially launched yet. Just give you the hint.
Keep your eyes on TOP Network
We do always have good connections with giant company in China
https://link.medium.com/Rygzok32p7
https://link.medium.com/juJVSS52p7
Mr.Bụt:
Thank you very much for the answers for more information and how to develop the community around the world
Part 3: All members can ask anything directly about TOP Network
Mr.Noah Wang:
I have 20 mins before i jump onto a meeting… feel free to ask rachel and i anything about TOP!
Question 1:
✅ How much important is the Vietnamese Market to Top network? Have you presence in that market?
✅ Why do afirm that you are 2 year head of ETH 2.0 considering that this is not launched yet? From where comes that self confidence?
Mr.Noah Wang:
Extremely important. Vietnam is one of the biggest and most rapidly growing market for blockchain talent. We have already partnered up with kardiachain, and have conducted several AMAs and on-site events in vietnam. I want this partnership to grow
Question 2: If the user base suddenly increases, does TOP Network still have stable operation, fast transactions and low fees?
Mr.Noah Wang:
Which is why we are going to introduce in stages, to make sure that we dont cripple ourselves.
Question 3: Which segments are you seeing early signs of success in real-world usable applications/blockchains? What part of the #TOP ecosystem are you most excited about?
Mr.Noah Wang:
Our USP lies in changing communications and social media as we know it.
The current issues of privacy leakage and data trafficking on the Internet are indeed very serious. Both Internet giants and startups have been through those problems. For example, the Cambridge Analytica and Facebook disaster and people selling Weibo user information on Telegram, shows us that centralized social media platforms are completely insecure.
First, the blockchain mainly uses asymmetric encryption algorithms to encrypt information, which can well protect user privacy. Asymmetric encryption is more secure than symmetric encryption, because asymmetric encryption does not require the key to be shared between the client and server. As long as the private key is not sent to anyone, even if the public key is intercepted on the network, it cannot be decrypted.
Therefore, traditional enterprises also need to strengthen their privacy protection in the future.
Question 4: How does your team ensure that #TOP remains the leading platform and can compete with the world’s leading projects in the coming years?
Mr.Noah Wang:
Our potential user base,, nobody even comes close to the 100 million potential users that we will have when the port cmpletes. As a developer, you need certain number of users for your dapp to meet critical mass and fulfill business logic. With our users, it will be easy to achieve that, which will attract more developers organically
Question 5: Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Top network going to compete with them? What do you think, one day Top network will become useless And will be lost into the abyss of time for not bringing any new technology?
Mr.Noah Wang:
Not at all. In fact, this is the most exciting part about being in this space! You cant rest for even a bit and someone will overtake you. However, to answer your question, innovation in this field lies in many aspect, technological, collaborative, user base and finally creating a thiriving landscape. And I believe we are well suited to dominate this for years to come
Question 6: How do we manage the shards on TOP Chain?
Mr.Noah Wang:
Good question, so any shard has its own validator set who are in charge of maintaining and running operations within the shard. This is another reason why having POS is critical for running and managing a shard. In a POW protocol, the validators may be overwhelmeed by a powerful entity that can take over the operations of the shard
Question 7:
1. How much committed is Top network with the GAMING Market? Considering your fast trasactions i Guess this must be a so tentative market to you
2. Which types of SHARDING can handle TOP NETWORK?
Mr.Noah Wang:
We are extremely committed to the gaming market. After all, the hottest dapp that there has ever been is cryptokitties, a gaming dapp.
At present, the TOP team has successfully developed the decentralized wallet HiWallet, and two large-scale DApp games are about to be developed, with 10+ lightweight games in the pipeline.
If you guys are interested then you can download hiwallet and participate in our staking !
Question 8: What is “Comprehensive Staking System” and its advantages to compare to traditional staking?
Mr.Noah Wang:
Traditional staking = rich gets richer, more stake you have, the more voting and validation power you have.
Comprehensive staking = if you do good work, you get more opportunities to make money and ve a part of the network
Ms.Rachel:
Follow up our medium and twitter. You’ll find all your answers there
Question 9:
Q1) Can you describe the advantages of Top Network over Ethereum Network?
Q2) Which benefits brings you the parallel pBFT-PoS consensus? Which unique capacities give you this KILLER combination?
Ms.Rachel:
The advantages of TOP Network are first reflected in technology. The TOP public chain implements the three-layer capacity expansion technology of Layer 0, Layer 1 to Layer 2.
Layer 0 is the network layer, which implements P2P transmission network layer optimization and Gossip protocol optimization;
Layer 1 main chain layer uses state slicing to linearly and horizontally expand processing capabilities;
Layer 2 uses state channels to bring in added scalability. By offloading business logic off-chain.
Secondly, the TOP chain supports dynamic sharding and horizontal expansion. Each shard of the TOP chain is composed of 256 nodes, that are randomly selected from the node pool by our VRF algorithm. The processing capacity of each shard is 400–500 TPS. It is expected that it can reach 600–800 TPS after optimization
The TOP chain has an original three-layer consensus network architecture to ensure the safety of the main network. The outermost network (Edge Network) is only responsible for delivering transactions to the routing network to protect the internal consensus node network; the routing network first audits transactions that have been verified by the shard to prevent intra-shard transaction tampering. The second is the consensus network which synchronizes the state between the shards. It is composed of shards and is responsible for the verification of the transaction.
The TOP chain also draws on the DAG’s ideas and does consensus at the transaction level, not at the block level. In the TOP chain, the data of each account is expressed in the form of a dot matrix, which is connected to form a micro-chain, and each transaction is quickly verified by the pBFT consensus.
Hmm i saw a question about zilliqa, can’t find it but to answer the differences
The TOP public chain has extremely high TPS (total transaction volume) and security. On the chain, it is the original public chain platform based on the fourth-generation blockchain technology and the world’s first public chain to achieve full-state sharding. The transaction confirmation speed is fast, and the transaction fee is zero, which is especially suitable for the mass flow of services such as communication, games, social networking, big data, artificial intelligence, and IoT. The TOP public chain can achieve linear expansion almost by adding fragments.
TOP public chain supports dynamic sharding and horizontal expansion. As long as the shards are increased, nearly linear expansion can be achieved. TOP public chain has an original three-layer consensus network architecture to ensure the security of the main network.
Question 10: Can you share ideas when developing #TOP? What makes you use blockchain technology to do those ideas?
Mr.Noah Wang:
The idea that you can mitigate a centralized entity was the main thing. We wanted seamless communications without bottlenecks. Also the idea of smart contracts is one of the most revolutionary innovations of all time. So they were what initailly inspired us
Yeah i am out of time now guys
I tried my best to answer everything
