Dear MultiVAC supporters:
We've held an AMA in our telegram group on Dec. 27. Our CEO Frank answered questions from the supporters and also shared our latest progress. Here is the full record of our AMA. For those we hadn't got the chance to join us, you can check here.
When will the mainnet open? Is the development still going?
We've launched our testnet 2.2. Our mainnet is expected to be launched in 2020 Q2, and testnet 3.0 in Q1.Our dev team is always focusing on the development of testnet and mainnet. But as we're exploring in a completely new sphere, we have met quite a few tech challenges up to now.
The more advanced functions we aim to support, the more challenges we meet during this course. We sincerely apologize that the roadmap timeline was not able to be kept and the launch time of testnet 3.0 and mainnet are delayed. However, most functions have been developed well. Our dev team will accelerate the development pace of the remaining functions to optimize the system's stability and reliability.
Before the release of official versions, we will still recruit beta testers to join our test. We held a closed beta test last month and more internal ones recently. I believe everyone can try the official testnet 3.0 quite soon, and play with the stable mining client.
Why self-mining test was very short? Due to time zone difference majority of us didn't even had a chance. Those who did it, didn't write any review. Why don't you allow more community members to test it and for extended period of time.
We did hold a closed beta test of the mining client on Oct 31 to test the stability. Like I've mentioned, we've completed the development of most functions, but in order to ensure flawless performance, we decide to first undergo multiple tests with internal and external participants.
Last time's CBT did have a limitation for joining nodes and test time (which was tailored for the dev team's test demands). We also collected testers' feedback after its finish. Unfortunately, because of the time difference, not everyone got the chance to be involved last time. But actually we did have many overseas participants. They sent quite positive feedbacks back to us via pm.
We're likely to hold another beta test shortly. Yesterday, our dev team conducted another internal test, and the performance was rather promising. We welcome more supporters to join our test next time. If you're interested, you can join our beta test group. We will update more progress before the official release of our official testnet 3.0 and invite everyone to join the following tests.
What experiences do developers have now? Did all the developers on the MultiVAC website leave? If all of those developers have leave, Shouldn't you be updating there profiles? If I look at the website, I can think that the development will be successful because there are many developers from various global companies.
Our dev team is doing great these days. The algorithm research and R&D team displayed on our website are still working with us.
As a solid tech-orientated project, our priority is always the R&D. Some friends asked why some members didn't update their Linkedin profiles, and I've also explained. Linkedin isn't the sole place for them to display resumes, and actually most Chinese are not used to using it.
Like what you can check on our website, we have experts from Microsoft, Google, and MIT in our research team. Our team is always stable, and we can assure that.
But building an underlying blockchain network like MultiVAC is a challenge itself. We met various challenges during this process. Thanks to the strong R&D team, we could manage to keep updating and producing new solutions.
The R&D needs time, like any other exploratory quest. We hope everyone can understand and kindly be more patient. We're accelerating our development pace to ensure the best stability of our system.
When will GitHub be accessible?
To protect our code, we're not open sourced now. After the launch of our mainnet, we'll find a good time to become open-sourced. I've explained it several times. The industry is still in its early days. We need to be careful and protect our original tech solution. This is also for every investor's interest.
The all-dimensional Sharding plan is the best solution for blockchain scale-up. In the spirit of decentralization and open-source, we will open our code to everyone and welcome everyone to build this all together in the future. It will take some time. Hope you can understand.
Does MultiVAC plan to list on major exchanges now or soon?
By the end of this Q3, MTV has actually been listed on quite a few excellent exchanges like Binance DEX, KuCoin, Gate.io, MXC. Our team will also keep providing more liquidity for MTV and get listed on more major trading platforms when time is ripe. We will share the news as soon as we can.
As we have to obey the NDA while negotiating with exchanges, we couldn't reveal more in terms of this aspect.
In the past, investors have invested in the hope that prices would rise. However, prices have fallen dramatically compared to the IEO and the past year. Does the MultiVAC have a countermeasure?
This is everyone's concern, and I can totally understand it. Everyone supports us is also the investor of MultiVAC. When you chose to invest MultiVAC in the first place, you must have studied our tech plan and team quite well.
We thank you for your acknowledgment. Recently, the price of MTV indeed didn't meet everyone's expectations. This is related to the overall bearish atmosphere of the crypto market, but we won't find any external excuses.
We're a solid tech team. What we can do is to keep developing the tech, and enriching our ecosystem, which is the only way leading to our final success.
Next, we will still take R&D as our first priority. We will also carry out more collaborations with more players in the industry. Official testnet 3.0 will be up and alive soon, and we will keep building our Staking ecosystem better to let everyone realize the true value of our tech plan and its application potential.
Almost 8 billions tokens are yet to be released. What are your plans to do this without strongly devaluing the current token and harming early investors?
The total supply of MTV is 10 billion. The foundation has burned its 2 billion MTV (ERC-20) to ensure the healthy development of MultiVAC's ecosystem.
After burning, the share of MultiVAC foundation's tokens dropped from 27% to 7%. And the 2 billion MTV will be re-activated and allocated as the mining rewards after the launch of mainnet. This is how we did to improve the status quo.
8 billion unlocking problem might be a misunderstanding. Our foundation is always disclosing our token metrics transparently. We have a detailed article for the up-to-date token metrics. Everyone interested can check with this link. https://medium.com/multivac-foundation/updates-about-multivac-token-metrics-e9f48450f9ba
Although the Chinese government regulates exchanges, it invests a lot in blockchain technology. Does MultiVAC have the opportunity to do business with the government or Chinese companies?
This October, the Chinese government indeed expressed its support for blockchain technology explicitly. More and more local governments and enterprises are seeking cooperation with blockchain solution providers, and we pay close attention to this area.
We attach great importance to the enterprise blockchain market, especially the Chinese one. More collaboration with enterprises in other fields can benefit our team in numerous ways, and also unleash the potential of our tech solution in real-world scenarios.
We will keep our eyes on this field and share with everyone here the latest progress. You can always follow us on Twitter or join our tech forum f.mtv.ac to check our new updates.