AMA Live Thread

This is a thread where I will post the Questions and Answers live for those waiting on Reddit - this isn't an official thread from the team, but me bringing it over from Slack This is NOT taking place on reddit. I apologize if I miss anything, it is tough to capture everything perfectly from Slack, but I am copy pasting their words as is.

 

Q: Thank you Lila and Monitor, Walton Team for joining us, we all appreciate and respect your time - my question is: What steps are being taken to ensure the security and stability of the wallet and mining, so that we can trust putting our coins there.

A: blockchain is born with a focus on data security. we are putting more effort to inherit and integrate security guarantee in our waltonchain system, with both software and hardware measures. for software, we refined the mining hash and calculation procedure, for hardware, we are trying to rely on existing hardware wallet, and developing our own

 

Q: How many people are working on the beta and who are they?
A: we have engineers in both across Nanjing and Shenzhen headquarters, with both full-time blockchain senior engineers and part-time interns from nearby universities

 

Q: What are marketing plans?

A: We will announce marketing plans at a later date. Please allow us time to refine the details.

 

Q: Is it true that Child Chains can run any consensus algorithm that they wish? Even algorithms like Delegated Proof of Stake, or Proof of Authority?
A: Child chain is capable of using a different infrastructure than mother chain. We will provide different options for child chain. We will also provide customization service to help business users setting up their chain rooted on waltonchain

 

Q: Will it be possible to mine without keeping your wallet actively open? This is important security concern for ppl who want to mine on cloud platform.

A: Yes, this feature is in our plan

 

Q: When will you update the website?
A: We will launch our new website in Feb!

 

Q: How many transactions per second can waltonchain theoretically handle, taking into consideration the use of child chains.
A: we use hierarchical chains to process transactions and to achieve load-balancing. For mother chain, it is designed to not slower than the current mainstream blockchain 2.0 implementations

 

Q: Will there be asic/quantum resistant mining algorithm?
A: We will keep optimizing our wallet until before the launch of our Parent Chain. We will update the Beta Wallet release next Tuesday, and we will keep updating every 2 to 3 weeks

 

Q: Is the website being developed inhouse by the walton team monitor?
A: We are working with a professional website developing team to develop our new official website.

 

Q: Will we be able to mine/stake/ without unlocking our wallet?
A: Yes, later versions will support mining without unlocking

 

Q: When can we expect hardware wallet support is implemented into the wallet?
A: Technically WTC can support hardware wallets, but the wallet manufacturers need to increase support for WTC functions in their APP, this need to gradually discuss and time;

 

Q: What type of plans does Waltonchain have in regards to marketing the release after beta is complete?
A: We will develop our own child chain in culture industry, agriculture industry, and smart city. Smart city project is about offering PM2.5 data evaluation for monitor stations network inside a city for the local government. This is a big project，we are working hard on it

 

Q: Can you share details about the coin supply in each of the pools previously described (GMN, MN, Mining, and Staking)?
A: These rewards will have their own matching bonus pool, in the main chain release we will release detailed instructions.

 

Q: Hey there Walton team, my question would be concerning the patents currently in place. Do you feel worried that the environment in China will allow for competitors to bypass the patents on the RFID chips such as txid reading etc? Aka how protected do you feel the revolutionary RFID tech is from those who wish to copy it?
A: The Walton team has completed more than 6 patents and is in the process of accepting it.

 

Q: How did the team perceive the beta results so far?
A: The beta test is going well and we've got a lot of good advice and we're constantly working on updates

 

Q: If I keep my WTC coins for a Masternode on an exchange will I automatically be registered for a Masternode?
A: Maybe not. You should keep in your own wallet

 

Q: When main net is live, will we be able to see our seniority level in the wallet?
A:We have this plan, we will continue to optimize the function and interface of the wallet to achieve a good user experience

 

Q: When will we be able to receive masternode rewards ?
A: Rewards will be distributed from the dedicated reward pool for masternodes, automatically by smart contact and monitored by everyone.

 

Lila: Guys, Mainnet Launch in Q1, the GMN and MNs will receive airdropped rewards starting Q1 from the foundation until we roll out GPU mining in between Q2-Q3, then all mining will be operational with GPU. - correct. We will support GPU mining, but CPU-based mining is always an option, same for other dedicated hardware

-If you need detail on reward pool size or reward calculation algorithm, we will have to announce officially, not here.

 

Q: Do you expect the 1st year rewards for a Waltonchain masternode to out perform the 1st year rewards of a Dash masternode?
A: Waltonchain is always worth investing in, not only for the first year. we will design and calculate our reward algorithm carefully to not disappointing ppl

 

We are in an agreement with Bithumb, but due to the recent Korean ban, all new coins can't be listed on Korean exchanges within 3 months. We are waiting for the news from Government. - CEO

 

Q: Dear team, what will be the most efficient option for PoW/mining: GPU, ASIC or CPU? Thanks for clarifying this
A: CPU is fundamental now, GPU is a must-have for Q2, and ASIC is ultimate goal

 

Q: Is there a way to share some of the code publically on Github at this time? It holds back many investors. A: Yes, we will update some code on Github, but not this time. Be patient.

 

Q: Do you expect the 1st year rewards for a Waltonchain masternode to out perform the 1st year rewards of a Dash masternode?
A: Our GMN play important role in supporting the safe operation of main chain, we will have a certain amount rewards accordingly! It will be more than Dash Masternodes rewards, don't worry!

 

Q: Thank you for sacrificing your valuable time! I was wondering (1) how WTC is planning to sustain it’s first mover advantage? (2) Was it not the case that WTC had patents & a working product before ICO, if so, what are the potential demonstrations of the technology that we might see in the coming weeks? (3) From a blockchain perspective, what is the current benefit WTC’s technology provides to distribution, as opposed to before implementation? Some numbers would be very helpful! Thank you!
A: Dear Tony, thank you for your questions. We have submitted 7 patents before ICO, including two international patents.

 

Many people ask why we don't include GPU mining now? Reason: The safety of the initial release of the master chain is the main factor to be considered. The initial open CPU mining can reduce the hardware requirements of the node equipment and make the node points grow rapidly. When the node points increase to the safety threshold. We will open up GPU mining.

 

Q: A big concern of the community is western facing marketing efforts. Is there currently any plans to engage the western marketing front more heavily in the very near future?
A: Yes, we have a plan to engage the western market. But now we focus on Korean and China,

 

Q: Do you have / are you planing any academic collaboration from China or from the west ?
A: research center supported by WTC team, some Chinese university and Korean University in on the way.

 

Monitor: We will organize off line meet-up in western countries in 2018 to have closer communication with our western supporter to improve our brand awareness in western countries. We will organize off line meet-up in western countries in 2018 to have closer communication with our western supporter to improve our brand awareness in western countries.

 

Q: what is causing the delays? is the blockchain development causing more problems than expected or are you adding more and more unplanned features?
A: We are receiving unexpected enthusiasm and participation during alpha/beta test. And we are not only fixing bugs based on feedbacks, but incorporating all the valuable suggestions for improvement and new features from the testers.
A2: Actually there are a lot of R&D work in blockchain need to do than a month ago. Because at least three sub-chains of WTC are on developing. That is the main reason for MAYBE delay. We will try our best to LAUNCH on Q1. But if Q2, I think it worth to delay. Because the three sub-chains are so important that we can't give up.
One sub-chain focus on Smart City in Korean. The second one focus on Smart agriculture in China. The third one will be announce in the early Feb. It is a secret now.

 

Q: priority? wallet>mainet?
A: As a member of the WTC team, I have great enthusiasm and confidence in the future of WTC. Therefore, our focus is on the maturity and security of the mother-chain technology, which is the first priority. * - Subchain = childchain*

 

Q: So is it Q1 or Q2?
A: We will technically get ready before Q2. When to formally release with genesis block created, should be aligned with our hardware progress, sub chain development, and marketing. Exact date will be announce through official channel.

 

Q: will these child chains hold ICOs?
A: Not all.

 

Q: were you guys impressed with some of the wallet designs that WTC investors in the west have recently suggested for a new wallet user interface?
A: Parallel with current QT version wallet, we are developing a new one. Many UI design ideas from community feedbacks
A2: Those are really nice UI/UX wallet designs, I've seen them. Our team will review it and do the best design. Thanks for all your contributions my waltonians !

 

Q: Have you considered a future rebranding due to the poor reputation of Walton to investors ?
A: Yes, we will

 

Q: Many people are worried about Waltons current price and position in the market, and that we are losing rank daily, does the team share this worry, it was stated earlier that we would be a top 4 coin in a conference - when do you envision this happening?
A: We are watching on it, we realized the worry due to coin price drop caused to our investor communities. But please don't worry , there will be many great news coming, we will do much better in the future!

Yang Feng: Thank you for your support！WTC is a platform for a variety of applications, I personally look forward to it . Therefore, we will devote more energy to grinding technology, to achieve excellence! Thank you!

Monitor: Thank you everyone for your time joining this AMA. We will release an AMA summary to respond your questions in redddit. Please stay with us. Let cheer for a better Waltonchain future!

Bing Mok: Thank you! Nice to communicate with you guys! WTC will be one of the best Cryptocurrency in 2018. Hold your WTC until go to DA MOON!!