Hello GreatDrop community,
On 30th November, 02:00 PM UTC (21:00 WIB) we just successfully hosted our 16th AMA with PRASAGA, Building the Evolved Blockchain with Smart Contracts 3.0.
With our guest from PRASAGA team:
- Jay Moore, CMO
- Michael Holdmann, CEO
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Questions Asked By GreatDrop Team
Q1: Can you please introduce yourself and PRASAGA to our community?
I am Founder & CEO of PRASAGA. I have been involved in the technology sector in Telecom, Network, Internet, Software for 5 decades my focus as a strategist, biz dev, evangelist, and visionary.
PRASAGA is my 4th startup.
I started a mission to create a ubiquitous, decentralized, open, equitable, technical foundation that would allow everyone everywhere to participate in a global playing field. My first endeavor to solve this was an Application Service Provider (ASP) in the mid/late 90’s, what we call cloud today.
For the last decade, I have been collaborating for international open standards for the Internet of Things to ensure the ability for anything to talk to anything or anyone regardless of a data model, protocol, platform, or provider.
What I discovered was the need to Decentralize the industry to ensure the citizen was in power, not large walled gardens run by the FAANG.
This is what PRASAGA will deliver to the world. The foundation for all transactions, financial or other.
I’m a massively parallel entrepreneur, Prasaga marks my 12th new venture, I have enjoyed creating everything from an Internet Service Provider (ISP) and a graphic design firm to a franchise restaurant chain and game streaming middleware.
My largest success was at GarageGames where we changed game development, coined the term “Indie Games” and built a community of 250,000 indie game developers in the early 2000’s.
PRASAGA is by far the most exciting venture I have ever had the privilege of being a part of to help make a better future for all of us as I see blockchain as the key to so many innovations and improvements to our global quality of life.
We have been working on this project for 3 years and now we are very excited to tell the chance to share with GreatDrop community about PRASAGA and the DataGrid Blockchain. Someday I predict you will tell others you heard about Prasaga before they had even launched on DeFi pools.
Q2: What kind of achievement PRASAGA has made so far and what target Prasaga want to achieve in the next year?
Thank you for the question.
- Research, design finished in Jan. 2019- 200+ of pages, 100,000 word notes documents of all major chains and projects scaling, consensus, economics (monetary supply, tokenomics)
- Wrote design of tech, submitted 4 patent pends
- 2 patent pend. XBOM™️ and XSOA™️
- Design a First-Class Object Model, Decentralized GlobalOS and Object-Oriented Blockchain™️ (OOB™️)
- State resides with account objects, we can move accounts and all individual account state from parallel chain to parallel chain.
We have a roadmap that we have followed for the last two years. We have met all of the major milestones on that plan. Our next steps are to complete the DataGrid Blockchain (DGB), mainnet. Starting with pre-sale for the DeFi pools (no USA citizens can participate).
Q3: At the moment, What is PRASAGA focusing on?
Community building and supporting our HyperLedger developers on XBOM, our fundraising is also taking some focus as we work with Balancer on our Liquidity Bootstrap Pool and a variety of social media support teams to help us get the word out.
Q4. When will the Token Pre-Sale start and What steps will be taken in the future after completing the Token Pre-Sale?
There are 3 phases to our Private Presale the first two are ($100k min) with a 20% and 10% bonus and we have just begun those discussions.
Then after Dec. 15th, we will be announcing our Community Presale which will have a ($5k min) and 5% bonus. That will fuel our Liquidity Bootstrap Pool (LBP) on Balancer:
- Bots have no advantage over humans
- LBP lasts for five days (can result in better price discovery)
- Users can use popular tokens in exchange for DGT
Then release on general DeFi pools like Uniswap.
Q5: What is the competitive advantages of PRASAGA? How PRASAGA is better than its competitors?
The competitive advantage in this case is PRASAGA NOT being the first mover, taking our time to research all implementations and projects, understanding the mistakes made and designing a scalable, permissionless, open, decentralized blockchain with a Decentralized GlobalOS.
Questions Asked on Twitter For PRASAGA Team
Q1 from @davidliefi
Can you describe about governance model of PRASAGA ecosystem? Who is in charge of governing the system, what is needed to be eligible for being authorized? On what kind of decisions can they vote on about the Prasaga project?
Our governance consists of multiple voting communities segmented by the various components of the financial model. Each voting community uses the one-person-one-vote model as opposed to voting by the size of the stake. A voter is required to own at least 1 DGT (think of this as the equivalence of “citizenship”).
To accomplish this, on-chain identity management is used. The mechanisms used for on-chain voting leverage the XBOM to define the type of classes for specific types of voting models.
Although our main focus for governance is on the management of the DGT, there are other aspects of governance related to the DataGrid Foundation as well. Our whitepaper provides an overview of some of these concepts.
Q2 from @Greyhair_08
As a developer I am familiar with SOLIDITY, Java C, KSML, can I build dApps on PRASAGA and how easy and accessible is it? What programming language does Prasaga employ and what is the incentive and added advantage for me to build on PRASAGA?
The XBOM represents a paradigm shift in the concept of a smart contract towards an on-chain, late dynamic binding, object-oriented, message passing system. The class implementations are expected to be implementable in multiple programming languages. As we have reached an early pre-release development environment and test network, we hope to engage and build a developer community to build class implementations on XBOM.
Q3 from @dtv1907
What kind of blockchain’s promise does the DataGrid Blockchain (DGB) need to harness? What are the potential use cases for the blockchain in other sectors like Fintech, Supply Chain / Logistics, and Government would benefit from evolutionary DataGrid Blockchain (DGB)?
Every use case can benefit from development done on the DataGrid Blockchain (DGB) as objects can easily be shared to develop faster and make maintenance easier. Building on an operating system will bring developers from every sector in the enterprise and the consumer sectors. We have had serious discussions with FinTech, Automotive Supply Chain, and Government regulators.
Because we are a decentralized operating system, any sector could build their applications and projects with DGB including fintech, supply chain, logistics, and government. We appreciate the blockchain’s promise of immutability and transparency and a trustless system.
Q4 from @Yona10003497
I often see PRASAGA recently holding an AMA. In each community, How did you involve the community in developing a PRASAGA project? and how do you build a strong community to grow globally?
- Since the blockchain ecosystem is built on the foundation of community, we engage with our global community from day one in developing a Prasaga project. To grow globally, we collaborate with our strong community of developers, token purchasers, team members, and miners.
- As regions like Vietnam, Philippines, Korea, Turkey, UAE/Dubai, Crypto Valley Switzerland, and others emerge we will create DataGrid Collaborative Labs and work with the local members to create vibrant communities.
- We are looking for community members that want to assist us in building our presence in all regions.
Q5 from @Kvindvr
Many blockchain projects exist to sell their tokens, but not solving any real problem. What can PRASAGA do to solve the problem that we faced today on blockchain ecosystem? And what solution to Prasaga provide?
Unlike other blockchain projects that focus on selling their tokens, we at Prasaga focus on solving the problem that we face in the blockchain ecosystem first, because:
- We spent quality time making sure the technology works;
- We focused on creating IP such as our patents;
- We wanted to make sure that we could scale first; and
- We brought the XBOM MVP along with a solid community
Some interview about PRASAGA
Questions asked by our GreatDrop community members during live Session to PRASAGA Team
Q1 from @Tony253210
During these recent days, PRASAGA has done so many ama sessions through so many communities, so this publicity has been impact in your platform? Your user base has increased?
We are getting to engage with a lot of new community members and after each AMA we have gotten to know new community members. We are getting more Twitter followers and Telegram community members we’ve gone from nearly unknown to 2,000+ members in our community in 7 days. Our real learning has been to see the concerns and insightful questions raised after reading what we’ve written. DeFi and all the gas price challenges from ETH have made our project even more interesting.
Q2 from @alice_wonderland12
In your whitepaper it is said that you explored all the major projects currently being promoted and discovered not one satisfies the DataGrid’s need for security and scalability while remaining decentralized. If PRASAGA solves this problem, how were you able to achieve it while no one else could?
Thank you Alice. Great questions. We started the project looking to integrate a very high-performance message bus for IoT (it moves data between devices and control systems over the internet)
Following is the list of criterium we developed while reviewing as many Native chain White Papers as we could in our exhaustive search for a Blockchain to utilize with our IoT/Smart City messaging bus infrastructure. To quantify, the last benchmark on our message bus produced 250,000 concurrent connections sending 60,000- 1k uncompressed XMPP (XML) messages per second (~20ms latency on average added to internet latency) utilizing a 2x4 core with 16GB ram and 10GB NIC (that is extremely fast and very efficient for non-techies).
After the review of every major chain and project that is publicized, we could only come to one conclusion that, although many revealed innovations, none of the projects meet our specific project needs.
Our Blockchain and Smart Object Model Technical White Paper’s which have been released (both public and under NDA) over the last few months, address each of these issues with a solution, not just a statement that “we will get to it someday”.
For everyone that reads blockchains solutions out there, here are the basics we felt were necessary and to look for:
Our Journey to Find a Blockchain for Our IoT/Smart City Infrastructure.
A list of criteria developed during our R&D.
Q3 from @Onikewifi
About the tokenomics? Could you give us an overview of the tokenomics? Is the token designed to rise and fall with the success of the platform? And does it include any scarcity paths such as stake, store, or burn?
The monetary policy and our blockchain design which will be governed by a decentralized voting process is driven by the internal economy of the DataGrid and has the ability to algorithmically control token supply via minting and burning.
Q4 from @bluefacebaby07
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Do you have any special plans to attract and expand the community and improve the user experience?
Through our DataGrid Collaborative, we have a global vision and we are engaging with key partners in every region, not just for token promotion, but authentic community development with token holders, miners, and especially developers on our blockchain.
Active blockchain regions like Vietnam, Philippines, Korea, India, Ukraine, Turkey, UAE/Dubai, Crypto Valley Switzerland, and others emerge we will create DataGrid Collaborative Labs and work with the local members to create vibrant communities.
We are looking for community members that want to assist us in building our presence in all regions.
Q5 from @diedfrom
Investors are afraid of scam, exchange is afraid of scam, partners are afraid of scam, so what does Your project guarantee not to scam investors?
We started this project 3 years ago, we pre-sold $850K in $DGT spring 2018. The early purchasers asked us to fix the scale issue with blockchain. We completed R$D, filed 6 patents, pre-released the dev environment, and testnet. If we were a scam we would have done it in the ICO days.
Here are some important links of PRASAGA
XBOM Developer: http://www.xbom.io
Telegram Channel: https://t.me/prasagaofficial
Telegram Group: https://t.me/prasagaofficial