Tokamak Network AMA Recap
CryptoDiffer team
Hello, everyone!
We are glad to meet here
CEO of Tokamak Network (@kevin_tokamak)
Kevin Jeong CEO of Tokamak Network
Hi, I’m Kevin. CEO of Tokamak Network. Tokamak Network is Turing Complete Layer 2 blockchain(Plasma), which is high scalable and fully decentralized. If you want more detail, please take a look our overview(https://t.me/c/1496936810/73657).
CryptoDiffer team
Let`s start with pre-selected questions from Google Form
Q1. @Ilyacharkiw
Why do we need scalabiity, we have tons of blockchains but looks like there is no or little being used?
Kevin Jeong CEO of Tokamak Network
Why do you think no or little blockchains are being used? Every day, more than $190B worth of cryptos is being traded. When price fluctuates drastically, even simple deposit/withdrawal transactions are delayed due to blockchain scalability. Scalability is always not enough and always needs to be improved.
CryptoDiffer team
Q2. @hungryhamster
What are your thoughts on the current DAPP industry? How will Tokamak Network help DAPP industry to grow?
Kevin Jeong CEO of Tokamak Network
Currently, I think the only well working DApp is a token. Though Public Blockchain has created a paradigm shift by having high reliability on currency, which can be issued by anyone if want, this is not enough. When sufficient scalability is provided to handle a large amount of data, the utilization of these private currencies increases, for example, you can imagine an incentive-based blogging service. Unfortunately, due to Ethereum’s scalability constraints, a decentralized blogging service of the same level as Steem has yet to come out. Tokamak will be able to expand its token economy ecosystem based on its high scalability.
CryptoDiffer team
Q3. @Kaunov_Roman
Tokamak uses Plasma Chains that are connected to Ethereum’s Main Chain. Why did you choose Ethereum, but not other highly scalable protocols like Zilliqa, Algorand, QuarkChain, etc? Only focus on the Ethereum framework?
Kevin Jeong CEO of Tokamak Network
Tokamak Network itself is a protocol. It can be connected to any base blockchain, including what you mentioned.
However, we chose Ethereum instead of others because Ethereum is the largest public blockchain. The market cap of Ethereum is $23B, and more than $8B worth of dApps are on its network.
CryptoDiffer team
Q4. @JACK_WANGian
It is clear that any software can have drawbacks, can you tell us what drawbacks might have yours? By understanding your drawbacks you can get better product that is why I ask this.
Kevin Jeong CEO of Tokamak Network
Tokamak network sacrifices some of the security of the Blockchain Trilemma. Layer 2’s security is relatively low compared directly to Ethereum. But instead, we’ve gained tremendous scalability. This relatively low security is not a weakness. For example, a decentralized blogging service doesn’t require a high-security level. A change in a full stop or one word of the article doesn’t cause a big problem. However, financial services such as tokens require high security (The only reason why there are only tokens in Ethereum DApp). High scalability will expand the availability of DApp as a great complement to Ethereum.
CryptoDiffer team
Q5. @dustyllanos
“Is it impossible to have a SCALABLE + SECURED + while being DECENTRALIZED all at the same time?
Can TOKAMAK protocol Solve this issues?
Because in my opinion, there is no Chain like that.
Kevin Jeong CEO of Tokamak Network
The Tokamak network does not directly solve the blockchain trilemma. However, the Tokamak Network tries to provide a means for optimizing the combination of individual characteristics within this trilemma triangle to meet DApp’s requirements.
Some dApp requires high security and decentralization or the other dApp requires moderate security and high scalability.
Tokamak is a great way to meet these diverse needs of dApps.
CryptoDiffer team
Q6. @lookseedo
I understood that it takes 24 hours per cycle to confirm the transaction. Do you have any plans or plans to shorten this further?
Kevin Jeong CEO of Tokamak Network
24 hours is the time taken to ensure complete security. For example, if you give passengers enough time to get off the crowded bus, if something goes wrong, everyone can escape. But if there is not enough time, some passengers might not be able to get out of the bus.
However, if you don’t need to escape all the “State Data(passengers)” of the DApp (such as the creation time of the blogging, writer, contents, and so on), 24 hours will cost you an excessive amount of availability to ensure security. If the required security level is low, it is possible to confirm in a shorter time.
Besides, research related to various escapes such as mass exit is being conducted at present. The usability represented by confirmation time can also be improved while maintaining the same level of security.
CryptoDiffer team
Q7. @chiliua
Hello! Turing, Plasma… You guys have excellent technology, but the question will be on a different plane. Undoubtedly, the blockchain is developing and it is no longer possible to even compare what could be done with its help several years ago and now. But despite the development of tech, we dont see a general interest among corporate clients in decentralized applications. Yes. People play some games, change crypto etc. But this is minuscule. dApps have much more potential. Why are people afraid to build business models, dont use them for some sort of processes and calculations related to the real world? Why is there no development of DAO? What do you think is interfering? How do you intend to find a user for your technology? Thanks!
Kevin Jeong CEO of Tokamak Network
Finding users is a problem for the whole blockchain industry. I think blockchain technology is not easy to learn and utilize. Understanding the concepts, such as account, private key, public key, and transaction, requires time and effort. As time goes by, only a few blockchains will survive, and more users will be in those independent blockchains. Layer 2 solutions like Tokamak have a chance to attract real users because those solutions are fully inter-operable with one of those base blockchains.
CryptoDiffer team
Q8. @celllife
How does Tokamak Network provide security to DApps data? How to keep motivation to use Tokamak Protocol in the long term? How Tokamak users get from achieving the platform’s goals?
Kevin Jeong CEO of Tokamak Network
I think we need some reference link to answer the question.
Please find our explanation regarding Truebit-like verification game; https://medium.com/onther-tech/dancing-philosophers-problem-verification-game-sidechain-and-data-availability-translated-c60ac51afcfa
The most important principle in constructing a token economic model is “to incentivize the most important behavior in the ecosystem”.
The most important part of the Tokamak network is a “commit” that guarantees scalability (summarizing the block contents of the plasma chain and submitting it to the root chain). Tokamak Network’s economic model is exquisitely designed for incentivize commiting. Please take a look at our token economic doc –> https://docs.tokamak.network/docs/en/learn/economics/ton
CryptoDiffer team
Q9. @IvanPetrov_90
Partnerships are an important part of the life of сrypto projects that allow you to use additional resources. You already have partnerships with projects such as MakerDAO and Matic Network. Do you plan to join forces with other projects in the near future? If so, in what area are partnerships most interesting and important for you now?
Kevin Jeong CEO of Tokamak Network
Currently, we are focusing on building a powerful staking network and discussing with staking partners. Moreover, since the strength of plasma is high scalability, we are currently talking with gaming and social network services. We are open to discuss with any DApps who consider Tokamak’s plasma chain can benefit for their products.
CryptoDiffer team
Q10. @mkmkmkg37
How investors can be sure that the core team of Tokomak won’t leave project in a year or two?
Kevin Jeong CEO of Tokamak Network
We think it is not desirable for core team members to dedicate their whole lives to one project. By different stages of development, we believe the project needs new talent and the ability to grow better. Since all the development and progress of the Tokamak network, ideas and philosophy is open source, and anyone can contribute and participate in this project at any time, which means anyone can easily become a core member. However, we also agree that current core team members have responsibilities for Tokamak Network. To show the confidence and commitment, the current core team designed the token economy of Tokamak Network that aligns with the incentive of the time and contributions of members. Specifically, the members should contribute at least three years to get the full reward of what they contribute.
CryptoDiffer team
Ok, thanks for such detailed and interesting answers!
Let’s move to the Telegram community questions part.
Cryptodiffer Community
What are the achievements that have been obtained by Tokamak Network in 2020? And what goals do you want to achieve in 2020?
Kevin Jeong CEO of Tokamak Network
This year, we are focusing on stabilizing the staking network, and Tokamak Network will release the staking game in late May for users to understand Plasma staking easily. Please follow our telegram (https://t.me/tokamak_network) and discord (https://discord.gg/SZw2WSR) for the future staking game news. For the developers, please find the docs guide (https://docs.tokamak.network/docs/en/learn/basic/tokamak-network).
Also, the business goal we are targeting is get listed on great exchanges that we can cooperate with, and expanding the ecosystem by working with various DApps.
Cryptodiffer Community
Is it absolutely necessary to use Plasma Cash, more viable Plasma and Plasma Leap? all worked together? and separately?
Kevin Jeong CEO of Tokamak Network
Though all of the teams are separately working on its research, we share many parts including the library, and also inspire each other. For example, Computation Challenge, we share SolEVM(Solidity based Ethereum Virtual Machine contract) to challenge invalid transaction. Truebit, LeapDAO(they moved from Plasma to Rollup) and Tokamak Network share same library in terms of preventing double spending transactions. We visit each other’s community channel, and share opinion about it.
Kevin Jeong CEO of Tokamak Network
Thank you very much. There is a chance that you can get rewarded if you participate our community event. Don’t miss it! Thanks again everyone!
If you have a further question, please visit our discord and telegram channel, love you guys 🙂
Cryptodiffer TEAM
It was a pleasure to conduct an AMA with Tokamak!!!
Thanks for your time @kevin_tokamak
Let’s finish the AMA
