AMA RECAP with Kui Wang, SmartBCH main Dev, regarding the latest Sha-Gate developments & more
Article from my authorship first published on Medium.
The main Dev of SmartBCH side-chain Kui Wang led an AMA, ask me anything, on the Telegram of the Satoshi Angels group in which the community had the privilege of knowing how the project is going and the status of Sha-Gate.
Kui kindly answered almost all questions and let the community know about the exact development of the design and execution of Sha-Gate, letting know that the portal for input and output values in a decentralized manner of side-chain values may be coming very soon.
He also spoke of the situation at CoinFlex where he assured that the funds that the exchange is holding as a hostage could be released but he did not help much as this is a problem that is in the hands of lawyers.
In an insistent question, Cindy Wang still tried to address the subject more, but the SmartBCH developer leader didn't help much in relation to the issue, showing that the entire 'soap opera' behind CF could have its days numbered.
To better understand the questions and answers that SmartBCH's lead developer answered, here's the entire AMA interview that took place on Satoshi Angeles' Telegram group:
Kui Wang:
hello
Cindy wang:
Kui is here!
Welcome, Dr.Kui
Kui Wang:
Nice to meet you all
bunny:
Welcome, Dr.Kui
Kui Wang:
Let's go through the questions one by one.
Lee Kin:
Warmly Weclome, Dr. Wang
魔兽:
开始了?
MyHero:
Welcome @wangkui0508 :)
Cindy wang:
Hi, all. Joining us tonight is smartBCH lead dev Wang Kui. He will take questions from you. You are feel free to ask any questions during the AMA.
Kui Wang:
My speaking English is not so good. So text AMA is much easier for me
Cindy wang:
Here are some questions we collected from the community.
Kui Wang:
OK
Cindy wang:
Since the Coinflex incident, the whole BCH community suffered a lot both emotionally and financially. Many smartBCH-based projects left and moved to other chains like dogechain. How do you feel about this? @wangkui0508
Kui Wang:
I feel sad. But I understand them. We the dev team is building a platform to the projects to grow. If the plat form is not so satisfying, people will leave. What can we do is to improve the platform instead of just crying.
The coinflex incident is not at our control. I belive we can overcome it but I am not sure when. But technically we can do a lot of things to make smartBCH a better platform.
+1
Cindy wang:
How can smartBCH rebuild community confidence? Do you have any thoughts about it?
L Z:
Rebuild community confidence
Kui Wang:
My personal thought:
First of all, sha-gate is the most important, it must be secure enough.
Then next, we need to find some person who can do the market better than me. And we need to find enough funds for next many years. We are working on it. But not a lot to share here.
What I believe is also very important is innovations. SmartBCH must provide something unique which you cannot find on other chains.
It is a bear market, very suitable to build something new.
+1
Cindy wang:
are you gonna expanding your team with the funds?
Kui Wang:
Currently, I am training three young devs who works at bitdeer. You know that the moeing*** libraries are very cool, so these young devs would like to study them. It is very helpful to grow their skills.
I think this is a good model. We are open to this: if any company have young devs willing to learn, I can help them to train young devs. The yound devs can contribute to smartBCH's infrasture and grow their skills.
Livestock🪐:
What is the status of SHA-Gate now?
Kui Wang:
Of course, if we can have more funds, hiring more exprience devs is also good too.
Cindy wang:
the reason i ask this is cuz we all noticed that the smartBCH team released the whitepaper for a new project, and launched a dev forum. But some people feel that you are not giving your priority to building the BRIDGE. What’s the point of these new moves? Do we have enough devs at smartBCH?
Kui Wang:
The three core devs (including me) are working at sha-gate fulltime.
The posts on the forum is not whitepaper. They are jsut ideas which may or may not turn into real products
Shagate is important and emergent. But innovations are also important (not emergent).
So we need a place to discuss the innovations. I think some of the new ideas will turn into cool features which will make smartBCH unique.
We have young devs studying the moeing** libraries. When they learn enough, maybe they can pick up some of these ideas to do real products.
But shagate is the first priority.
+1
Cindy wang:
Exactly.
@wangkui0508 we have someone interested in the Gany satellite blockchain, can you explain this question?
Kui Wang:
You cannot access it now. It is not a product, just an idea. One of our young devs is learning moeing** libraris and trying to build GanyChain with these libraries. But I think he still need very long time to make it a product.
Thank you for the interest in GanyChain.
Cindy wang:
who started this Gany chain idea?
Kui Wang:
If we have some progress on it, we'll let you know.
Will, I started the Gany chain idea. Actually, the idea is formed long before. Even before smartBCH
We discussed about something like decentralized twitter in 2020.
But until recently, under the help of huahui, we finally write the whole picture down.
+1
Cindy wang:
Don't hate me, but I need to know where are we now with the COINFLEX issue? Are we still going to sue them?
Kui Wang:
It depends. I am not a lawyer. I will listen to the lawyers.
Cindy wang:
so did you already get a lawyer?
Kui Wang:
But I will try my best to keep 1:1 peg of BCH:sBCH, under the help of some supporters.
We have identified a leading international law firm that is willing to work with us in dealing with the CoinFLEX issue.
+1
Cindy wang:
Any progresses with BODAO?
Kui Wang:
we need to find some person who can do the market better than me. And we need to find enough funds for next many years. — these two issues are all related to BODAO.
So the detail of BODAO is not finalized yet.
If anyone knows a marketing expert, or some whales with funds, please contact me.
Cindy wang:
Stablecoins are important tools for users to deposit into the smartBCH ecosystem. Before we had FlexUSD. Now lawUSD seems to have become the most valued one. What are your plans to introduce stablecoins into smartBCH?
Kui Wang:
I have not studying the detail of lawUSD
But we welcome any new ideas.
Our plan is to build infrastures to make cross-chain stablecoin more secure and reliable, and help people to innovate (such as lawUSD, or something else).
Overlooker is such a protocol which can make chain-crossing more secure and easier.
And paralinker is helping us to implement it.
Cindy wang:
paralinker?
is that a person?
Kui Wang:
Of course we'd like to have USDT and USDC directly support smartBCH. But currently, cross-chain stablecoin is more realistic.
Paralinker dot com, a company
v:
What projects are you focusing right now which will help the smartbch ecosystem in the long run?
Kui Wang:
We are only focusing on one project: shagate.
Cindy wang:
Let's talk about sha-gate. The realease of SHA-Gate has been postponed repeatedly, and now the latest scheme has become SHA-Gate V2. Is the delay or version upgrade due to technical difficulties? Could you give us a brief introduction?
Kui Wang:
Well, why SHA-gate is postponed repeatedly? Because we did a wrong design of sha-gate v1.
About one year ago, we proposed sha-gate-v1. We thought it was a good innovation to use miners and cross-chain verifiers.
However, more and more experienced people told me that PoW miners and not reliable as signing cross-chain messages.
We wasted a lot of time to enhance the whole design, just to find that we must change the design thoroughly.
Cindy wang:
被嫌弃的矿工的一生。。。
Kui Wang:
I have wrote why miners can not reliable. Not repeat here.
Then we also used a lot time to explain to the community why we need to switch to sha-gate-v2.
When we finally settle down to develop sha-gate-v2, the coinflex incident also have bad effect on our schedule.
But now, we have finished the code of sha-gate-v2 (in smartBCH's cc branch) and are testing it in our private bch testnet.
We hope we can test it publicly in the next month.
+1
kute:
I know a whale, Wujihan😁
Cindy wang:
jihan: you bad bad.
L Z:
大家应该忘了Jihan
Kui Wang:
Jihan is a business man.
You must think things in a win-win way. Just just beg Jihan to do everything
kute:
If we can know more about jihan's plan, the community should have more confidence
Kui Wang:
I am training there devs at bitdeer, and these devs can also contribute to smartbch. It is win-win.
kute:
The community needs transparency
L Z:
市值不能靠任何一个人
As noted in the AMA Interview, Kui Wang addresses the issue of Sha-Gate delays, justifying that it had to be done because the first version had a somewhat 'wrong' design for what the portal's ambitions were, but that the second version is already corrected with the aspects that were discovered in the first design.
Another issue is also summed up with the issue of funds, since maintaining an infrastructure of the scale of Sha-Gate requires financial capital and must be a secure structure to avoid possible constraints such as hacking where it could be exploited.
Kui also addresses another important aspect, marketing, as it is not only the release of Sha-Gate but also the issue of making the world known about SmartBCH and its decentralized entry and exit portal of values, which can attract investments to the side chain.
In addition to the introduction of Sha-Gate, Kui Wang also does not distance himself from the possibility of making more innovations in SmartBCH addressing the issue, for example, of interacting with protocols that have been acting on the side-chain, such as the case of LawUSD belonging to BlockNG.
In short, the main focus of the SmartBCH developer leader is on the Sha-Gate release because only then the side-chain could dream of relief again and the community as well as devs can be sure that the EVM will continue developing projects as it was programmed when it was conceived in a decentralized, dynamic and completely autonomous way.
The extract from the interview AMA can be found in its entirety on the Satoshi Angels Telegram group and has been minimally altered for the purposes of an article reporting the latest developments regarding Sha-Gate.
