31 December 16:00 P.M UTC+8
Live AMA Recap with “Theo Restivo” BTEcoin CEO
Q1: Due to Covid-19, many industries have been hit terribly, and some industries have even collapsed. However, the blockchain industry has not been affected. What do you think of this? What prompted you to create BTE at this time?
Theo Restivo: The 2020 epidemic has a fatal impact on many traditional industries, especially the manufacturing and service industries. However, the digital field has been advancing from March this year, and the market is bull all year
We have been waiting this moment for more than 3 years
as for why there are so many industies hit terribly, in my opinion, The main reason is: the epidemic has more affects on the flow of people and materials, but blockchain industry is mainly about funds and information. Blockchain practitioners aremore flexible and adapt to distributed office
However, No garden without its weeds. Because of the epidemic, More companies are starting to think about how to integrate entities with the Internet and deploy more Internet-related industries as well as chain-reforming. The epidemic is accelerate the integration of various industries and better integrate into social and economic life, and empower the development of the real economy.
Q2: Data is the key for an internet firm. How does the BTE public chain reconstruct data storage and promote the development of the digital economy? Can you share me more about it?
Theo Restivo: when it comes to DATA, I should mention our advanced innovations, BTE public chain is the first to innovate and implement MVCCKVDB (that is, multi-version KV data storage) storage. Compared with the storage of traditional blockchains, BTEcoin is more efficient and fast to meet the needs of blockchain data growth to a certain scale, and still maintain a high Data read and write performance. It has great impact on data query, data verification, and new version maintenance.
In the final analysis, the blockchain is a technological revolution. How to persist in exploring new technologies in this market has always been our original intention.
At present, there are many public chains on the market,They all said they have advanced technology, but they are not friendly to beginners. With high gas fees, easy congestion, and frequent black swan incidents, the security of user assets cannot be guaranteed. The market needs another platform that is simple to operate, highly compatible, friendly to new users, and low in gas fees, so BTEcoin is here to help. Secure POS mining through SPOS and ticket. Users use BTEcoin in the wallet to buy tickets and obtain mining rights. One block is mined by one ticket, which truly realizes fair and transparent blockchain rules.
Q3: The BTEcoin public chain provides users with several module services. Can you briefly introduce the service and their operating procedures?
Theo Restivo: BTEcoin has 9 service modules in total
the first one is Client-side module-provides account reconciliation, block node, wallet management and query functions. All transactions are implemented through the client, signed and encrypted by the user, and then send on chain.
the second one: RPC module-the client send the assets on the chain via the RPC interface
then here comes the thrid: Mempool module- can solve the problem of consensus module is slower than the RPC module
You must familiar with forth one: Consensus module-The consensus algorithm of the BTEcoin public chain main network is SPOS, with high compatibility and high stability, and deployed DPOS voting rights
The fifth one is a little difficult for beginners to understand: Actuator module-is the logic center, reads the status through a read-only database, and executes it virtually without saving the execution result
then comes the sixth one: P2P module-connect each node, broadcast transactions in the network
The Seventh one is about storag: Blockchain module-receive blocks from the consensus module and store them on the local hard disk
The eighth is for security: Encrypted signature module-signature and encryption of transactions, signatures ensure that transactions can be traced, and encryption ensures information security .
The ninth is the most interested one, Customernized token release mechanism . I will talk more details later
all these modules are a little hard to understand for non-development background users, but no worries, we will make it clear by let all users know well about the function
Q4: We noticed BTEcoin provides random number support to reflect fairness on the blockchain. How is this part achieved? Why you guys design random number support?
Theo Restivo: Our public chain has been further optimized on the basis of the random number compared to the traditional blockchain, depolyed VRF, which can verify the random number logic, and the random number logic mainly ensures the fairness of the game rules. It is also the manifestation of the openness and transparency of the blockchain.
First, the user buy tickets with BTET, the wallet generates a RandomNO, and gets a pubhash
Then, the newly purchased ticket contains this Pubhash and RandomNO, and it is stored in the blockchain. After 12 hours, it starts to participate in mining.
Next, the consensus algorithm finds mature tickets from the blockchain
Finally, the smart contract receives the mining transaction
Q5:What is the BTEcoin one-key token? How to operate it? and what kind of innovation will it bring?
Theo Restivo: Assets that exist as electronic data are referred to as digital assets. Using blockchain technology, digital assets is decentralization, trustlessness, and traceability.
I think all users in this field know these features very well
Users can register assets on BTEcoin to realize asset digitization. Some assets with less liquidity, such as real estate, gold, and commodities
Digitalization can increase liquidity and realize value transfer
Users can issue Tokens with one click by filling out the form without writing code. At the same time, the Token name is unique on the parachain, avoiding the duplication and confusion of digital assets within the ecosystem.
Users can issue Tokens with one click by filling out the form without writing code. You can imagine that
I wanna to share more about our exciting technology
BTEcoin SUMMARY
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
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