Jimmy Zhong Answered Community Questions in This Week’s “Ask Me Anything” Session
Here is a quick highlight of questions answered by Jimmy during IOST’s “Ask Me Anything” Section on Telegram this week.
Jimmy Zhong: hey guys
Nice to talk to you guys again!
Ac: How does IOST avoid the resource crisis that plagued EOS for many months during their high activity run?
Jimmy Zhong: RAM can only be traded for 1 time.
And we have a better mechanism
So the problem EOS has won’t occur on IOST
We are already officially the 4th most used blockchain (after EOS, ETH and TRX)
The resource problem is not a concern.
EOS has many flaws. This is one of those.
Lil A: How do you think the real use case of IOST blockchain, except those not meaningful Dapp Games
Jimmy Zhong: Check our medium article 🙂 we have lots of Dapps on the line. And I wouldn’t call them not meaningful. It’s just a start. Internet started like this. We also have enterprise solutions that seems more “meaningful” at this point. For example Chinese NASA is putting on data onto IOST to regulate drone companies in China.
Braddozack: Hi Jimmy, I have 312,000 IOST tokens that I initiated a redemption on the 12th of March on BISS. The initial votes were for the node Timechain from Canada. They have not been redeemed yet. It is now 15 days and counting. Are you aware of this issue? I am missing out on voter rewards everyday they are not redeemed. I have been hassling the admins on Telegram, unfortunately they can’t offer any solutions, is this being actioned?
Jimmy Zhong: Please contact BISS for details… I’ll forward the info too. They are a node that built the portal for us.
Rich Mouj: Why isnt iost on dappradar
Jimmy Zhong: It’s on dappreview. Dappradar is still working on integration
Amigo: When Jimmy? In April near future?
Jimmy Zhong: You will know 🙂
SID June moon: Can you make a summary… Not of past issues as I have both eos and iost and I have seen eos bringing solutions to all past issues of cpu and ram…
Jimmy Zhong: Yeah. We will work on an article for this. Just a few quick example: the 1–30 voting issue, the “fixed” committee issue and so on… and also the governance issue.
Alexander Golubtsov: Jimmy, is pleasure to have you here. will IOST dapp mainly focus on gambling? if not, what will dapp mainly focus?
Jimmy Zhong: It’s up to our developers to figure this out. IOST is like an operating system, currently we have people built games and gambling games on top of it, we will also have a lot more other things. Check out our main net launch article on medium and you can find your answer 🙂
Amigo: Thanks JImmy. Can you please update on planning ICOs, tokensales on IOST platform???! Are you planning to use Launchpad approach and partnership which is becoming popular within Exchanges like Binance, Huobi?
Jimmy Zhong: Do we encourage ICOs on IOST? Yes. Are we “using launchpad”? No, because IOST has been listed already. But we may encourage and help tokens that are issued IOST do so
SID june moon: Gambling dapps are only for stress testing imo…
All failed on eos and tron…
Gambling dapps probably stays hot only few days or weeks.. Then it becomes city of dead
Jimmy Zhong: If you understand the nature of it, you’d see those aren’t gambling Dapps. Those are mining Dapps.
Braddozack: BISS told me to contact IOST, something about the node not registering a main net account. Timechain have done that. I checked on IOSTABC. Can you please give BISS another nudge.
Jimmy Zhong: Will do
Ac: EOS has settled with a permanent supernode committee, unfortunately. It was an interesting experiment though.
Jimmy Zhong: Yup
Wesley : How do you stake IOST for iGas?
Jimmy Zhong: Try tokenpocket for now
In the future this process will be automated so u don’t need to stake manually
SID June moon: Actually true.. Mining is new gambling but I already saw 50–80 casino dapps pnd on eos and tron…
No wonder if I see it on iost again..
Jimmy Zhong: yup, check our main net launch article and you’d see more interesting things. In the meantime, understand that we can NOT decide what developers build on IOST.
We can only encourage ppl to use it 🙂
Alexander Golubtsov: if you don’t mind, i want to ask one more question: which area/country will iost mainly focues on? where are most of iost BD located?
Jimmy Zhong: Currently, US, China, Japan, Korea and Singapore. Will keep expanding
Braddozack: By the way, when will the secret weapon be announced?
Jimmy Zhong: April!
Amigo: Are you planning to apply a new token for IOST ecosystem? GAS principle like most of the coins doing now? Just to stimulate community hold, airdrop for every month for IOST you hold and nodes?
Jimmy Zhong: There is no point of issuing a separate gas token. It takes away value from IOST in the long run.
I dislike that solution a lot.
Cryptic: Jimmy what is the secret weapon and when is it coming out :stuck_out_tongue_winking_eye:?
Jimmy Zhong: It’s about lowering the bars for Dapps. We will roll out a version in April
SID june moon: Will iost launch any of their own dapps?
Jimmy Zhong: You mean will we develop any Dapps on our own. Yes. Check our berm protocol that we are building these days, we talked about it quite a few times in our interviews already. It’s about content distribution. And we will bring tons of users for it (3M signups already, it’s a hybrid app now, centralized front end, decentrazlied protocol level. Try downloading Bermi & Berminal on Google play)
Braddozack: Any ETA for a hardware wallet solution?
Jimmy Zhong: April I think
Cryptic: Where do you expect to see iost ranked on coin market cap in the next 6 months? Considering it can compete with some of the great blockchains now
Jimmy Zhong: Hard to predict. Our interests are aligned tho I believe.
Amigo: Jimmy, on Korean market and exchanges your volume is low and interest is dropping. Any marketing capmaigns for Korean market planned? Upbit, Bithumb we need to increase the volume and interest.
Jimmy Zhong: We have folks in Korea. Will keep working hard on this.
Wesley : I hope you plan to fix this. The gas can really get in the way of user adoption. This is why I’m turned off from EOS. Your onboarding process needs to be as simple as Tron for mass adoption.
Jimmy Zhong: It’s not a fix on our end. Wallets are developing this already. Will be a LOT easier.
Just need a little bit of time. Tron didn’t have any DAPP or wallet ready until months after their release.
Not even VM support for the first version. The on boarding process will be very easy in about a month for IOST
what are ways software programmers can earn IOST without having to charge per transaction? are there such ways?
Jimmy Zhong: Become a node or vote. And you can also check out our bounty programs
Alexander Golubtsov: Iost claim that you are the 4th usable platform after eos, eth, tron. how will iost exceed those platforms? what are the advantage of iost compare with the other three platforms?
Jimmy Zhong: We are the first scalable & decentralized solution. And we are already the most used platform (in terms of tx numbers) after ETH EOS TRX.
Franken:tm: Iost has an ultra-fast decentralised blockchain network is there any plan to partner with payment processor company?
Jimmy Zhong: Yes. In Korea I think we are working with Carry and we are exploring other opportunities there. In China and US we are working on a few things too.
Amigo: JImmy, when mobile wallet? April or May?
Jimmy Zhong: Now — check out tokenpocket
준민 김: Is there any good news you can tell us now? In korea market, iOST is smaller in volume than other coins. Something innovative news is needed.
Jimmy Zhong: Well, essentially we are the 4th most used blockchain and we currently have 1/10 of EOS or TRX in terms of market cap. We will try to do a better job in Korea tho.
Alexander Golubtsov: yes, what is the peak TPS? i also want to ask this question
Jimmy Zhong: 8k.
saif : @jimmyz1234 , please elaborate on this:
Don’t think charging extra transaction fee is a good idea. @IOStoken has a model where we can rebate our DAPP devs/wallets devs, while maintaining a “free transaction fee” model (staking is required). https://t.co/kJbT9GtZlJ
— Jimmy Zhong (@jimmyzhong_iost) March 9, 2019
Jimmy Zhong: The link in that tweet actually take about it. We reward our nodes with iRAM too (besides IOST) which can be sold (only 1 time)
Divi: Is that a localhost benchmark?
Jimmy Zhong: No it’s a real test. Check our test net articles and you can see more details.
Cryptic: Jimmy what are your thoughts on the potential whale situation forming in iost i.e huobi with almost 30% of the votes. What are the plans to make it more decentralized
Jimmy Zhong: It’s already decentralized. 30k people voted for them on their platform to get them that many vote.
And more of them will be voting thru wallets in the future
Instead of on centralized exchanges
We will encourage ppl to do so
Mining pools for bitcoin contributes lots of hashrates too.
saif : Did you mean node rewards, right? And not software programmers who created software wallets?
Jimmy Zhong: I meant node reward yes. But you can become a node 🙂
Amigo: Jimmy, are you putting any targets for IOST marketcap increase? Like we want to become top 10 Blockchain project on marketcap?
Jimmy Zhong: I certainly hope so
Amigo: Jimmy, any exchanges are planning to be listed? Like Coinbase!
Jimmy Zhong: Can’t be disclosed or discussed 🙂
Alexander Golubtsov: what are the most tech advantage compare with eos or tro? @jimmyz1234
Jimmy Zhong: Both of them use traditional DPOS which get them a basically fixed committee for 17/21 nodes. We are the only one that can scale (faster than these 2) while being decentralized. We can support over a thousand nodes.
Ken Tan: What are the enterprise / government project u all are working on? I understand that u all will be announcing this week in ur twitter
Jimmy Zhong: Mentioned Chinese NASA example above. More will be announced later 🙂
Dimitry: There some question from a member for #ama
My questions for Jimmy
1. How much iRam u need to do a task
2. Iff u buy/sell iRam 2% What will get burned, iost or iRam
3. Iff Its iost that Got burned Where Does the other 98% go to
4. Will iRam income go next Year to the Roi for voting?
5. The secret weapon is it to make buying easy for regular people to dont have to understand blockchain technologies?
From F Meijer
Jimmy Zhong: 1.Insignificant. Why not give it a try with TokenPocket? :smile:. 2. IOST. 3. I don’t understand this question… not being burnt?! 4. It doesn’t expire. 5. Yes
madhu .: > This might be unrelated question as a new to iost voting which voting in biss does return higher rewards and till when the rewards will be distributed?
Check out the tool Leobi built for us:
Jim O’Quinn: Really amazing to witness how fast the IOST ecosystem evolves. From testnet, to mainnet launch, then going from 0 dapp to 1 dapp, then in less than 24hrs, BOOM, it ranks in the top 5 dapps for tx volume and $ volume.
Jimmy Zhong: Thank you 🙂
Amigo: Jim any investor venture funds to be invested in IOST? Next investment round planning??
Jimmy Zhong: We are not fundraising or selling any foundation tokens. New lockup plan will be out
Braddozack: Will you be able to vote on a hardware wallet?
Jimmy Zhong: In the future
Braddozack: Any timeframe?
Jimmy Zhong: Let us wrap up the integration with hardware wallet first.
Sweet Rabbit: Is iostabc.com the only place to create an account?
Jimmy Zhong: No you can create it in many places, tokenpocket works too. And I think multiple developers built tools for us.
For example: https://iostaccount.endless.game/register
Sweet Rabbit: You cant create private keys on token pocket
Jimmy Zhong: You can.
CrownPrince: Is TokenPocket available for iOS/iPad?
Jimmy Zhong: Yes. Download the enterprise edition for now.
Amigo: JImmy, IOST is also IOT ecosystem solution. Any plans for Smart City solutions?
Jimmy Zhong: Yeah, the Chinese NASA program is about IOT (drones)
Jim O’Quinn: I’m sure managing a global team ain’t easy, but keep on kicking ass and all your hard work is appreciated!
Jimmy Zhong: Thanks!
Braddozack: Thanks for taking the time to communicate with us, and if you can follow hp with BISS that would be appreciated.:+1:
Jimmy Zhong: Will do.
Also stablecoin should be launched this week or early next wk. stay tuned!
Jimmy Zhong: Alright guys! So thx for being here today. Plz let me know on twitter if we have more questions 🙂
Talk later guys.
:))) thanks guys
Join IOST Official Page for more of this discussions
Jimmy Zhong Twitter: https://twitter.com/jimmyzhong_iost
IOST Telegram Page: https://t.me/officialios
IOST Twitter: https://twitter.com/IOStoken
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Here's a quick Digest for last week on $IOST: 1⃣ Intro to IOST-Kalytn cross-chain 2⃣ IOST reaches 40M Block height… https://t.co/YgrstV7OaeFollow