8 January 16:00 P.M UTC+8
2nd Live AMA Recap with “Theo Restivo” BTEcoin CEO
Q1: Are there measures to ensure security in the BTE public chain because of its potentials on BTE?
Theo Restivo: Yes there’s what we call SPOS which stands for safePOS. This process implements the safe mining process through ticket. Before a user can have access to the mining, there are processes the user should take.
First, he/she would first use the BTE balance in his wallet to buy ticket and one ticket has a unique ticket ID which would qualify the user and give the user the mining rights. And a block can only be mined by one ticket.
The ticket mining procedures are as follows.
Wallet: This process is where the user would first check if he or she is qualified by checking the BTE wallet balance in order to purchase ticket if met. Also note that the user will construct a ticket purchase and send to the blockchain.
Q2: Are there penalties for any misconduct on the system since it will be used by miners?
Theo Restivo: oh, of course, By any chance there’s malicious activities by any users using the platform, there’s a penalty to that. The user will loose 20% assets so you can’t play smart with BTE public chain transactions.
If any slit ill behaviour occurred, the system will dictate it instantly and would punish the miners because the wallets are issued by BTE platform.
and, I have little thing to also said regarding the second question
Blockchain consensus: this process is constructed in such a way that it uses a locally held tickets to process the transaction. This implies that the exact ticket holder has successfully mined and received corresponding ticket reward
As for Contract address: This process is what we all know but an easy one. This process writes all the information regarding transaction and input in database. So remember I initially said each ticket has a unique ID so the smart contract writes and store in database. So with this you transactions are safe and secured
Q3: Can you give more insight about BTE lending funds? Will it be accessed by anyone? Are there fees to pay? How is it done?
Theo Restivo: First we should know about BTE lending is that, it’s a decentralised platform. BTE lending is a transparent ecosystem which can be used to solve financial blockchain issues because it’s peer to peer and it’s if high degree of maturity and trust. Yes, anyone can seek for loan via the platform.
Regarding fees, it’s a mutual platform and all users that borrowed are to clear up the debt at appropriate time.
It has 3 technical tier solution for the lending.
1 . Application layer
2 Platform layer
A. Application can help in registration, login details, exchange, pledge loan application etc which users can interact within the platform.
B. Platform layer provides API interface to the application layer through smart contract.
C. Protocol Layer: it’s told is to provide specifications such as, users data management, role access and lending procedures.
Q4: Is/are there forms of insurance on the platform since there’s loan? If yes, please what are the steps to ensure users funds are safe?
Theo Restivo: First, BTE insurance is based on smart contract and can’t be tampered and enforced automatically. It mostly targets the common risk in the Blockchain industry like theft of private keys, attacked on exchange, wallet theft, manipulation and loophole in smart contract. It provides risks protection. It’s a kind of security protection for some defi products, and to compensate mainly for assets changes and defi development.
Q5: Any plan helping the universe especially now covid 19 is an issue to humanity?
Theo Restivo: Oh, yes, based on the current situation. BTE use public chain, in the medical session, with its untraceable, non tamperable and distributed chain, patients details will be private. The future application of BTE in medical and health care mainly involves patient ID authentication, electronic medical records, clinical research and development, drugs traceability, and medical insurance claim.
There will be multi party collaboration, trusted environment and using cryptographic technology such is computing. BTE will ensure there is safe data sharing and storage which will protect data owners and providers.
BTE goal is also to establish good relationship between patient and Dr. In case of conflict resolving between patients and doctors.
Moreso, on the chain, relevant information , operation record of the health worker will be recorded on the chain. So patients can check on the chain the professional qualifications of the medical institutions and personnel so as to reduce fraud claims. Traceable of drugs in the market via BTE blockchainc and IOT are included too. Consumers can trace the accredibility of the producers.
Question from Community
snake_33 l : Any plan helping the universe especially now covid 19 is an issue to humanity?
Theo Restivo: we will ensure there is safe data sharing and storage which will protect data owners and providers.
Chin Chin: What is the most ambitious goal of BTE? I would appreciate it if you could share with us any upcoming updates? What should the community look for in the long run?
Theo Restivo: IN 2021, WE will expand our global market. Especially in East Asian. And we are also looking for good Global partner.
snake_33 l : How long does the public chain line exchange need?
Theo Restivo: we have launched a voting activity on twitter, “what would you love to trade BTE in 2021”, people votes a lot. Huobi and Coinbase have the most votes, so we will try to contact their BD for listing. For more information, we will announce in our group.
BTEcoin is an open-source payment protocol based on Ethereum smart contract. It also allows transaction value and information to the whole internet to achieve distributed storage.
Trade BTE on UniSwap: https://app.uniswap.org/#/swap?outputCurrency=0xfd62247943f94c3910a4922af2c62c2d3fac2a8f
Trade BTE on zg.com: https://www.zg.com/exchange/737/BTE/USDT
Telegram Official: https://t.me/btecoinme
Telegram Announcement: https://t.me/BTEcoinAnnouncements