Kambria sends a huge thank you to Long Vuong, CEO and Founder of TomoChain, for participating on our AMA last night. Kambria is very proud to have TomoChain as a strategic partner and Long Vuong as an advisor. It was our great pleasure to have him answer questions from our community. Below is a summary of our conversation. For clarity, the original text has been lightly edited for grammar and spelling.
If you could not catch the AMA live, please post your question in our main Telegram channel. The team will get back to you quickly.
I am traveling and cannot make the AMA tonight at 8pm PT. However, I am excited and here are my questions:
1. TomoChain uses a lot of gamification for the crypto community. Who came up with the TOMO Hunting Season and how are you expecting it to grow your community and help with your testnet?
Wow, that’s a long list of questions. So I will try.
The marketing team is in charge of gamification. 🙂
[Moderator] For anyone interested, you can learn more about the TOMO Hunting Season program that Michelle asked about through the following link. This is a series of incentivized games from TomoChain for their community and partners to help stress-test TomoChain Testnet 2.0. https://twitter.com/TomoChainANN/status/1054646162844639232
2. What are the similarities and differences in finding a crypto company in Asia versus the United States?
Big US crypto projects have more money. 🙂 I think Asian projects seem to be more diverse in their approaches.
3. How is your Proof-of-Stake Voting (PoSV) consensus “fair”? Would all uniform distribution be deemed “fair”?
We are going to publish a new paper on “uniform distribution” from POSV voting. “Fair” is really a relative term imho.
4. Forking is desirable in a way as it allows folks to re-create or build on top of a blockchain protocol to make something better. What are a few negative ramifications of forking?
Forking is a unique feature in an open-source community. I think it’s for the better as it allows the market to choose the best project.
5. TomoChain does not have miners but masternodes. One must deposit 50,000 TOMO to the smart contract. Do you feel that this excludes people who may be good candidates but do not have the resources to provide the 50,000 TOMO?
I think running a MN is a fairly hard, and technical job. It is similar to investing in mining equipment.
6. TomoChain has three (3) kind of reward systems: Infrastructure, Staking, and Foundation. Is this tiered reward system working well in practice?
We will have to see how it works out in practice.
7. Is your double validation system maintaining the quality of your blocks?
To reduce chain forking, and chain rebase. There will be less orphan blocks.
8. How is Random Number Generator used in your system?
Secret letter scheme; currently, we implement a version using smart contract following a Cardano’s paper on RNG.
Hey Long. Are your transactions off-chain for Tomo? Layer 2
Tomochain focuses on on-chain scaling, and with the current Masternode architecture, all Txs are on-chain.
What is your plan to foster developer adoption of TomoChain?
For developers, we focus on the ease of programming with detailed use cases, and clear documentation and offer engineering support if needed. TomoChain also adopted EVM, so many tools and smart-contracts written for Ethereum can be ported to Tomochain easily. Later on, we can offer funding support via our ecosystem fund as well.
A follow-up question to that: What do you see as the biggest barriers to adoption of TomoChain?
Firstly, brand building takes a lot of effort. Secondly, we need several very strong Dapp and protocols partners.
Can you be more specific in your relationship with Kambria? How will the two companies work together? Any potential examples?
I love what Kambria is doing with Robotics, and AI. The core team is brilliant and hard-working, and I think with the right framework, Kambria can attract a lot of talent, and good projects globally working on cutting-edge technologies such as Big data, Robotics, IOT, new Financial services, etc. Tomochain wants to participate in the ecosystem, offer a permissionless financial system that projects in the Kambria community can take advantage of. We can also co-fund promising projects in the future.
[Moderator] You can also read more about the partnership between TomoChain and Kambria in the following article. We are very proud to have TomoChain as our strategic partner! https://medium.com/kambria-network/kambria-tomochain-partnership-announcement-1d51f50418a5
How did you first hear about blockchain?
I heard about Bitcoin in 2013 and started to do some work on blockchain late 2013, joining a project building an alternative chain at that time.
If someone co-funds a project, do they own any rights to it?
In my opinion, tokens offer an elegant way to incentivize engineers/people to work on open-source projects by owning and being rewarded in the project’s tokens. We would like to see a clever way to structure and fund projects in an open-source spirit. So later, other projects can take advantage of what has already been done, but the inventors can also be rewarded fairly.
What is unique about the TomoChain blockchain that you want us to know?
This is an interesting question since I think TomoChain offers multiple new techniques such as POSV consensus (with double validation and voting strategy), Masternode voting, monitoring system, very low TX fee, fast confirmation, etc.
On the other hand, there are many public blockchain nowadays following wildly different directions. So I think what differentiates TomoChain from others is our focus on strong product development that solves relevant and practical problems. When our mainnet launches in December, Tomochain will have a full suite of products that make it very easy for developers to build high-quality and efficient Dapps.
Who are competitors for TomoChain and is TomoChain is unique than others?
Yes, many projects are working on public chain infrastructure at the moment. What’s interesting is that almost all of them are in very early stages, even Ethereum and TomoChain included. The winner is likely the first one who actually solves a problem for mainstream users. For example: having the first or second Dapp with more than 1 million users. So we still need to wait for a few years.
You proposed a point at the 2018 Southeast Asia Blockchain Innovation Summit by saying that blockchain will turn the world into the largest stock investment market and will also turn everyone in the world into an investor. Can you elaborate on that?
I would use the Internet and Web as an example. Before those, rarely anybody in Asia could read U.S. or Europe news daily or weekly, so people’s accessibility and usage to information globally exploded after Internet and Web. The same thing happens with finance (invest, save, trade, exchange, etc.) with the arrival of the new permissionless finance systems based on the blockchain.
How do you think your earlier success contributes to this project?
People can invest in my new project a bit easier. Building new products are still difficult.
From my research, I can see that Tomo has many good partnerships. What’s your approach toward partnerships?
Projects need to strategically align with the partner. And it should base on trust and respect. I just talk with more people.
[Moderator] You can learn more about TomoChain’s partnerships in the following article: https://medium.com/tomochain/tomochain-all-in-one-overview-9fce16e13b5
And that concludes our AMA! Once again, thank you everyone so much for your enthusiasm and your support for the AMA! And thank you Long Vuong so much for your time and your great answers to all of the questions from our Kambria community today!
ABOUT Long Vuong
Mr. Long Vuong is CEO and founder of TomoChain, a public blockchain infrastructure providing an innovative solution to the scalability problem of the Ethereum blockchain. Prior, Long Vuong was co-founder and the former project lead of very successful NEM blockchain (Top 20 blockchain project in Coinmarketcap).
As a blockchain guru and economics expert, Long has advised for a number of blockchain projects all around the world and contributed to affirm this technology value by developing practical products. He is a notable speaker in many prestigious events across nations and a full-time blockchain evangelist.
ABOUT TomoChain
TomoChain is an innovative solution to scalability problem with the Ethereum blockchain, and other blockchain platforms. TomoChain features a 150-Masternodes architecture with Proof of Stake Voting (POSV) consensus for near-zero fee, and instant transaction confirmation. Security, stability and chain finality are guaranteed via novel techniques such as double validation, staking via smart-contracts and uniform randomization processes.
TomoChain supports all EVM-compatible smart-contracts, protocols, and atomic cross-chain token transfers. Scaling techniques such as sharding, EVM parallelisation, private-chain generation, hardware integration will be continuously researched and integrated into TomoChain which will become an ideal scalable smart-contract public blockchain for decentralized apps, token issuance and token integration for small and big businesses.
ABOUT Kambria
Kambria is an open innovation blockchain project that enables and incentivizes collaboration in R&D, manufacturing, and commercialization of advanced technology. We are developing our own public chain with protocols uniquely designed to address the current waste and inefficiencies in today’s innovation model. Kambria will allow for many verticals, including Biotech, Space, and Autonomous Vehicles, to be developed and thrive in the ecosystem. We are focusing first on the AI and Robotics vertical with the backing of our well-established robotics company, OhmniLabs. Through existing partnerships with top universities and large international corporations, as well as access to talented developers, we aim to build an ecosystem that can bring the next wave of frontier technology to provide value to billions of people around the world.
Thank you for your time!
The Kambria Team
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