Aergo AMA Recap

Aergo AMA Recap

CryptoDiffer team

Hello everyone! 

We are glad to meet here Won Beom Kim (@wonbeomkim), Hunyoung Park (@hunyoungpark), Jae Shin (@MobileJae),  Pierre Alain (@PierreAlainO) and Jae Nam (@jaeynam) from the Aergo team!

CryptoDiffer team

Can you introduce yourself to the community? What is your background and how did you join Aergo??

 

Hunyoung Park
CTO

Hello, I’m Hunyoung Park, CTO and Board Director of Aergo. I’m also CTO of Blocko who are developing Aergo Chain. It’s a pleasure to meet you, I’m really happy to be here to introduce Aergo.

 

Jae Shin
CMO of Blocko

Hello everyone! Glad to be here. My name is Jae Shin and I am currently the CMO of Blocko. I’ve been in the enterprise and mobile industry for over 27 years and have worked for various companies from AT&T, Motorola Google, Samsung Electronics, and more. As the Corporate Vice President of Samsung Electronics,  I oversaw the global go to market for a product called Samsung KNOX. I hope you vote for AERGO in our bid to be listed on Binance! Excited for the AMA

 

Won-Beom Kim
CEO for Blocko

My name is Won-Beom Kim and I founded the startup behind Aergo project (Blocko) years ago. Now I server as the chairman for Aergo, and CEO for Blocko. I originally come from engineering background myself and I’m one of the original authors behind Aergo whitepaper.

 

Pierre-Alain
Developer and researcher

Hello, My name is Pierre-Alain. I’m currently working for Aergo as a developer and researcher (Ethereum and sidechain compatibility, MerkleBridge, AergoStateTrie…)

 

CryptoDiffer team

Can you briefly describe what is Aergo in 3-5 sentences? What technology stands behind Aergo and why it’s better than the existing one?

Won-Beom Kim
CEO for Blocko

I’ll do the introduction.

Aergo’s born our of Blocko’s effort in enterprise blockchain space.

At Blocko, we help governments and large enterprises to design, deploy and manage high performance and high-security solutions and services built around an advanced hybrid blockchain platform. We’re recognised as one of the world’s most experienced companies in this space, having already helped many organisations to deploy production systems on blockchain (We’re basically Korea’s largest blockchain infrastructure provider with over 23 delivered implementations). Blocko helps develop and support Aergo, an enterprise-ready blockchain operating platform that leverages and extends both public and private blockchains via best-of-breed cloud computing. AERGO is basically a public, enterprise-grade blockchain project built and supported by Blocko.

We believe the future of business will be on the blockchain, many of our enterprise clients are going after this and due to many requests, we realized and see that data is indeed the new oil. With over 5 years of experience in the field, we know that this is going to revolutionize business as we speak! Working with some of the largest companies in the world and with over 25 million active users in firms such as Samsung and Hyundai, our experience tells a story of its own.

 

CryptoDiffer team

What are the major milestones you have achieved so far?

Hunyoung Park
CTO

Actually we’ve been deploying blockchain solutions for over 5 years now for major enterprises, but yes in terms of Aergo many results were achieved, you can find them in our tweets and QPUs.. the main challenges were primarily speeding through to hit our milestones and ensure a stable and secure network, it’s been great!

1. We delivered pre-testnet in time (2018)

2. We delivered testnet in time (2018)

3. We delivered Mainnet in time (2019)

4. We achieved many business results already (2019)

5. We built ecosystem and in-house dapps (2019)

6. We are listed in many global exchanges

7. We made big partnerships like Samsung, Hyundai and MENA

Here’s the latest Q3-QPU for more information:

https://paper.aergo.io/AERGO_QPU_Q3_2019_1.0.0.pdf

 

Cryptodiffer Community

Q1: What is the story of the formation of Aergo? What is the relationship with blocko?

Q2: Can you tell me why I should vote for Aergo?

 

Jae Nam Committee Head

1/ Blocko is a solution integration/deployment partner of AERGO for enterprises. Aergo is an open source platform which Blocko provides services for enterprises on it’s network. Blocko is an amplifier for Aergo — it not only helps Aergo to build the technology, deployment libraries — it helps companies to integrate and adopt Aergo in their businesses. Blocko is actively working with its 23 enterprise clients to migrate them to an improved architecture based on Aergo. In fact it has recently decided to adopt and only support Aergo for all its business lines from hereon. This is amazing news for Aergo and all of our stakeholders. Further not long ago we announced our Hyundai Blocko deal and many more are anchoring as we speak as they are using COINSTACK, the previous version of AERGO. 

We have an article exactly for this question coincidentally, you can check it out here:

https://medium.com/aergo/understanding-the-relationship-between-blocko-and-aergo-5133d3854bcc                                            2/ three reasons for voting Aergo. Vision, the best team and excution capability!

 

Cryptodiffer Community

AERGO has use case in payments, when are we going to see gateway for aergo payments in stores 

AERGO has use case in e voting, please how robust and secure is aergo E voting and has it been implemented in any state

Hunyoung Park
CTO

Nice to meet you again marantha, so Enthusiastic. Aergo helped E voting by transparency, immutable record. Also results are summarized in contracts and ankered in public chain.

Cryptodiffer Community

We are living in the advent of QUANTUM COMPUTING, what threats does this Pose to AERGO and blockchain projects at large

OF your 5 featured solutions I read of in the site, I discovered that majority is KOREA, please what are you doing to spread to other parts of the world, also, do you consider CHINA A TARGET MARKET FOLLOWING FAVORABLE NEWS FROM THE PRESIDENT

Jae Nam Committee Head

OF your 5 featured solutions I read of in the site, I discovered that majority is KOREA, please what are you doing to spread to other parts of the world, also, do you consider CHINA A TARGET MARKET FOLLOWING FAVORABLE NEWS FROM THE PRESIDENT

Funny you mention that  we are partnering with a bleeding edge research team that has the most advanced capabilities in areas such as quantum-resistant cryptography, data sovereignty, custody and delegation of digital services. More on this area of joint development as it gets nurtured with specific lighthouse early-adopter government clients.

As for China we do have plans and opportunity for entry but we can’t disclose that just yet. Just know that we definitely have our ears out and China is a favourable opportunity

Cryptodiffer Community

Blocko has been in the blockchain industry for a long time, why don’t you just focus on Blocko but also building Aergo?

Jae Shin
CMO of Blocko

Blocko is the technical execution organization.  In the beginning we created private bockchains for our customers.  However, in recent times we saw the need for more trustless features.  In conjunction with the founders of AERGO, Blocko developed AERGO platform.  We are using AERGO as a hybrid solution.  Enterprises still would like to keep sensitive data behind their firewall, but need the certification of the blockchain.  Blocko was able to provide this very solution to a government body.  AERGO is built for enterprise and will continue to evolve in that segment.

Cryptodiffer Community

AERGOSQL is called a new Smart Contract engine for blockchain. So, can you let us know what is basic difference between SQL and smart contract? Which advantage can AERGOSQL bring to project ecosystem instead of using a normal smart contract?

Why did Aergo use hybrid architecture and can this combination of public and private blockchain have enough condition to response to the regulation requirement ?

Won-Beom Kim
CEO for Blocko

SQL is a way to access/manipulate data. You can think of it as something like Excel spreadsheet for developers. Usually, most of smart contract engines out there support only key-value storage and it takes time & effort to program your data layer – which can take up to 90% of effort creating a new dApp. By empowering dApps with SQL, we allow developers to better spend their time making their users happy, instead of tinkering key-value storage to do impossible stuff.

 

Cryptodiffer Community

Can you list 2-3 killer features of the AERGO that makes it ahead of its competitors?

Pierre-Alain
Developer and researcher

1- JDBC and SQL features for enterprises and data management, 2- Interoperability of assets and oracles via Merkle Bridge for Aergo mainnet, Aergo enterprise networks and Ethereum mainnet, 3- Enterprise grade products, services and ready to use for Businesses and dapps: 5 years experience doing this !

Cryptodiffer Community

With Samsung recently adding Aergo to its blockchain wallet, does this insinuate a future collaboration?

i am very excited about AERGO Knight . so , what are the privileges of being an AERGO Knight?

Jae Shin
CMO of Blocko

Yes! Isn’t that exciting?  Millions of Samsung customers can keep AERGO right in their Samsung device.  We are discussing future projects together.  We will keep our community updated on all the fun things we are planning with Samsung.  I think you can approach an AERGO Knight about being one.  Knights are very important for us. They are the eyes and ears in the community.  They will keep us honest and advise us on the sentiments of the community.  They are what keeps Aergo community alive.  BIG THANK YOU TO OUR AERGO KNIGHTS!

 

Cryptodiffer Community

AERGOSQL is called a new Smart Contract engine for blockchain. So, can you let us know what is basic difference between SQL and smart contract? Which advantage can AERGOSQL bring to project ecosystem instead of using a normal smart contract?

Why did Aergo use hybrid architecture and can this combination of public and private blockchain have enough condition to response to the regulation requirement ?

Hunyoung Park
CTO

AERGOSQL is combining our lua contract language with SQL grammar. You can use SQLite grammar itself in our contracts, and if you use Aergo JDBC, you dont need to write Aergo lua contract, you only need to use SQL, really! We impelmented Litetree for supporting blockchain. It is our main SQL engine. you can see this interesting video

 

Cryptodiffer Community

While most of crypto community is individual, what product of Aergo, a pioneer in providing enterprise solution, you think will be the most fit to regular person?

Won-Beom Kim
CEO for Blocko

Blocko is working on a number of consumer-facing dApps/services at the moment. An app called Gotchu, a personal ICO service, is already released and on major appstores.

In next few month we’ll release a document/digital signature service akin to DocuSign that’s powered on Aergo as well. Think of it as AergoSign!

 

Cryptodiffer Community

Who is your competitor and how you’re better than them?

Jae Nam Committee Head

IBM Hyperledger, Quorum, R3 Corda

Cryptodiffer Community

Quite a lot of people are impressed with your partnership with SamSUng, is this your .advantage? And what benefits do you and samsung bring to each other?

Jae Shin
CMO of Blocko

Samsung is great partner to the whole blockchain ecosystem.  Putting a blockchain wallet in their devices eliminates one pain point of reaching the masses.  Samsung’s expertise lies in mobile devices and consumer goods, we are partnering with Samsung to give them our expertise in the blockchain space.  We are brainstorming to bring blockchain DApps and solutions to the masses.  Stay tuned!

Cryptodiffer Community

Hey guys! I do like Aergo’s direct focus on a corporate client.This indicates that the project is ready to solve specific problems in its field. But in this regard i have a question. How does Aergo tokenomics combine goals and meet the needs of both parties: A) A business that builds some kind of closed infrastructure and uses technology functionality, and B) An ordinary investor/tokenholder more interested in their own (speculative) side of the issue? What is the common incentive for both of them to support and develop the system as a whole?

Thanks!

Hunyoung Park
CTO

I love this question. yes, that’s the principal issue for blockchain projects, If you start company, you need revenue, but you need publicity of blockchain. We used hybrid architecture for solving this issue. Most business logic places in private chain, but it is connected to public chain using ankering and merkle bridge. If then, people need token for issuing transactions. Number of customers will make the value of tokens.

Cryptodiffer Community

You know, there’s a lot of competition between the exchanges. What are your priorities to make yourself better than them. What do you offer investors as extras to pick you?

Jae Shin
CMO of Blocko

We do not try to be better than exchanges.  We partner with them to allow investors to trade AERGO tokens.  The best thing we can do for investors is to make sure that we are transparent, meet our project milestones, have large partnership news, and expand.  You can read our Quarterly Project Update to see what we have done so far. https://paper.aergo.io/AERGO_QPU_Q3_2019_1.0.0.pdf

Cryptodiffer Community

What makes Aergo blockchain(which is 4th generation) secure from 51% attacks and how does it prevent them from happening?!

Pierre-Alain
Developer and researcher

Aergo’s consensus algorithm is DPOS so it requires 2/3 of BPs to finalize a block which is very different from probabilistic consensus algorithms like POW succeptible to 51% attacks

Cryptodiffer Community

Can you expand further on how Aergo Chain, Hub & Marketplace works?

Jae Nam Committee Head

AERGO Chain – Public Internet of Blockchains (+1 Million TPS with Sidechain Technology)

AERGO Hub – Public Interface to the AERGO Chain

AERGO Marketplace – dApp Platform, Computing Resources, Storage, Algorithms, Content, and more

Cryptodiffer Community

What do you think is the biggest WEAKNESS in your project? 

A project’s TECHNICAL DEVELOPMENT may not always be reflected on the PRICE of its token. can you tell me Some of the value factors that may affect the Aergo utility token ?

Hunyoung Park
CTO

Ye we focused only on development and business executions. Little marketing activity is our weak point I think. but we have new CMO, and want to make agrresive marketing activity from now!!

Cryptodiffer Community

A private company that suddenly decides to use Aergo’s private side-chain in its infrastructure, will have to buy the required amount of Aergo tokens on the exchange for the deployment of a smart contract? How much do you need?

That is, private companies will have to rely on an asset with an unpredictable price in their business budget when planning their business?

Won-Beom Kim
CEO for Blocko

That’s actually the role Blocko plays in the picture as well. IT admins are not used to buying crypto and paying for software/services. Blocko works as a service/solution provider so the whole crypto and token economy is transparent to the IT people – that’s why we have a partnership with a payment processing startup such as SatoshiPay as well (which enables people to pay for crypto using creditcard)

Cryptodiffer Community

If an Enterprise launches its own blockchain/sidechain on the AERGO platform, can they use out of the box solutions or can they create their own blockchain?

Pierre-Alain
Developer and researcher

Yes, we have deployment solutions and products part or ‘Aergo Enterprise’ for customers to setup their own aergo network and connect to the mainnet for sharing assets, oracles… 🙂

Cryptodiffer Community

What is the usecase of aergo and how much adoption you can bring compared to other blockchains project ??

Why is aergo not working in gaming sector when the gaming sector is an huge opportunity for blockchain project to improve their scaling solutions ??

Jae Nam Committee Head

We have a very good list of projects, large enterprises, and use cases seen here, have a look https://en.blocko.io/usecases/

 

Cryptodiffer Community

Your metamorphosis is a laudable one, how have you been able to survive this longest bear market and to what extent have the recent bear market have on the project development

What’s your greatest threats going forward and what plans are in place to overcome them. Also what major milestones do you want to achieve by end of 2019, probably BINANCE LISTING?

Jae Shin
CMO of Blocko

Thank you for your comment.  It truly means a lot to us.  Bear market did not affect us as we don’t rely on our token price for the success of the business.  We have large paying enterprise customers that are using our solutions today and continue to gain new customers.  Our token spend and allocation are detailed in our QPU.  Thank you for your support!

Cryptodiffer Community

Aergo chains can produce sildechains up to 1M TPS, is this possible? While today, major technology companies like Microsoft, IBM and SAP have been developing blockchain products dedicated to enterprise deployment, will Aerrgo have an advantage in this race?

Hunyoung Park
CTO

1M tps is not about single chain, It comes from hybrid architecture. public-sidechains. IBM is competitor in enterprise market. but we are fighting well(win several times).

Cryptodiffer Community

There have been criticisms of projects with a utility token, it is often claimed that the token is only there to raise money. Does the AERGO token have real added value?

Pierre-Alain
Developer and researcher

also a chess player ? 

Aergo does not suffer from those criticism: the AergoERC20 is transfered to Aergo mainnet native token and is used for voting, paying transaction fees, collateral for defi (see aergo gem), governance… and other utility to be anounced later !

Cryptodiffer Community

What is the use of Aergo coin when it’s blockchain is only being used by Blocko?!

Aergo is called 4th generation blockchain, mind telling us how does Aergo’s blockchain function and it’s features of 4th Blockchain gen has over others?!

Jae Nam Committee Head

We’re backed by many investors, Seqoia, GBIC, NGC, not just Samsung. Also deployed with Hyundai and they have 50+ affiliates on their network. Blocko is a service provider, and we take on SLA’s to provide them solutions to their legacy tech. 

Lastly, to find out why it’s 4th generation, watch this video 

 

 

Cryptodiffer Community

What if you face issues and consequences on your project like hacks, etc. Can you promise to solve it no matter how it is difficult, and not leave your valued investors behind?

Won-Beom Kim
CEO for Blocko

We have been in this space for 5 years.. and we look forwarding to serving the world for next 5 years as well. We are not just a task force or a team on internet – but a real company of people working together. That’s what the biggest bank in Korea believed in as well (https://www.coindesk.com/major-banks-back-7-4-million-funding-round-for-korean-blockchain-firm)

Won-Beom Kim
CEO for Blocko

Thank you everyone!

Hunyoung Park
CTO

Really thank you for your time, we will win and go forward!!

 

Cryptodiffer TEAM

Thank you fo answrering questions and allocating your time for our community! We all really appreciate it!

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
CryptoDiffer Admin
query2212@gmail.com

Leave a Reply

Your email address will not be published.