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My AMA with Hoo.com, 2020/11/11

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Avatar for im_uname
Written by   125
11 months ago
Topics: Bitcoin Cash

Below is a direct copy and paste from the AMA (Ask me Anything) session I had with Hoo.com on their Telegram channel on 2020/11/11, going as a contributor to general BCHN efforts. Much thanks to Saiho and Xuxin from Hoo.com, and our very own Tracy Chen for arranging the event.

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Saiho Liew:

Welcome! Thanks for being with us. Can you please tell us a bit about your background and how did you get involved in crypto?

im_uname:

I'm imaginary_username, and I coordinate things at BCHN ("Bitcoin Cash Node"), run many pieces of BCH infrastructure, and contribute to general theoretical and design work in various BCH fields. I got involved in Bitcoin back in 2014 after getting interested reading Mt. Gox's collapse, and has been interested in using bitcoin as peer-to-peer cash ever since.

Saiho Liew:

Great!:+1:

What are some of the key features of #BCHN and how is it something entirely new or an enhancement to an existing solution?

im_uname:

BCHN is derived from Bitcoin ABC, which itself is derived from Bitcoin Core. People probably already know the core difference that led to the code split: We do not agree ABC's action of baking a payout for themselves directly into the protocol. We have since made many unique improvements, in terms of a better DAA to ensure more consistent blocktimes, performance, and testing infrastructure to pave way for scaling and protocol improvements.

Saiho Liew:

Thank you for sharing that with us.:grin:

What’s your plan in place for global expansion, are BCHN focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?

im_uname:

I'll need to first clarify that BCHN is a full node team, BCH is a decentralized cryptocurrency and many parties (for example, bitcoin.com) are involved in promoting usecases for it.

That said, my personal thoughts: BCH has in its genes from the beginning to push adoption, adoption, adoption; that should not change going forward, and we'll get a renewed chance now that destructive actors are behind us. Adoption does not just mean "make this coffee shop accept BCH", though we have many people on the ground pushing that too. It must also mean financial smart contracts - not of the ETH kind, but uniquely bitcoin UTXO flavored - more convenient onramps, offramps, and more.

Saiho Liew:

What are the ways #BCHN is generating profits/revenue to maintain your project and with is its revenue model? How can it benefit in a win-win situation for both investors and the project?

im_uname:

I would say investors paying to maintain and upgrade infrastructure directly benefits the value of coins they hold, so it's our job to persuade them on that fact. In fact we've seen the rise of Flipstarter, a crowdfunding platform that facilitates that; but there is much more work to be done in making more people aware of the platform and projects, persuading them of its merits, and improving user experience.

Saiho Liew:

What are your major goals to achieve in the next 3-4 years?

im_uname:

A lot of the well-known scaling work that'll enable us to process many more transactions have been stalled over the past couple years as contributors were discouraged due to ABC's management style and combative stance on funding; we plan to address them and fulfill BCH's starting promise as bitcoin that scales.

Additionally, work that benefits usecases (such as doublespend proof and script improvements) are also under research and construction. It's important to note the real goals - global adoption - must reached by businesses and users of the coin. Node developers can only strive to make their work easier.

Saiho Liew:

Great!

What killer features of BCHN make it unique from other similar projects?

im_uname:

For the full node itself, I would say that we have a codebase that is closer to Bitcoin Core than our peers, making it easier to share improvements or fixes; but above that, BCHN strives to make each change evidence-based and well-surveyed, instead of making rash decisions based on just one or a couple people. You can expect us to produce relatively stable software while we keep making improvements.

For BCH: Permissionless, affordable, useful money. It'll only get better.

Saiho Liew:

Next!

What do you think about the current situation of BCH? Has it been the way you first thought it would be?

im_uname:

It's certainly been a bumpy few years, with people who crown themselves "founders" of one thing or another keep wanting to grab money from the protocol, causing lots of damage in the process. I think it's only going to get better, though.

Saiho Liew:

On the path to BCH expansion, what are the biggest challenges? Do you have any insight on how this should be implemented?

im_uname:

The biggest challenge is getting usecases and users: We have a lot of capacity right now without accompanying business volume to fill them. Going BSV and filling the chain with garbage is not the way to go either. Business adoption and applications that makes use of significant volumes of BCH have to be the main driver, and past instability definitely did not help.

Having a culture of reasonable discourse and not making rash decisions, I think, will help a lot. We have explored quite a few ideas on improving communication and making sure stakeholders have more voice, which we'll be developing and rolling out over the next months as well.

Saiho Liew:

Awesome:+1:

In your opinion, which is the core of BCH, the user, the developer or the miner?

im_uname:

All of them! None of them can really survive without the others.

If I have to pick someone though, I would say the long term investors. Other actors come and go, but those who put down their money ultimately shape where the coin goes. Note that users, businesses, developers and miners are often long term investors too!

Saiho Liew:

They're all an important part of it.:muscle:

And How do you feel about IFP?

im_uname:

Just say no.

Saiho Liew:

Could you briefly explain what has caused divisions of opinion in the BCH community,and how BCHN differs mechanically from the original BCH?

im_uname:

I need to repeat, BCHN is an implementation of BCH full node, and there's no separate "BCHN" coin. So there's no such thing as "how BCHN differs from BCH".

Saiho Liew:

Okay!The last question!:blush:

It is known that computing power can determine which chain is more powerful. Then currently what percentage of the computing power in the BCH network does a BCHN node obtain?

im_uname:

Last time I checked, blocks signaling BCHN are 80% over the past two weeks and rising. Compared to the 0.1% of ABC, it seems like we have supermajority support.

Saiho Liew:

Alright:+1:

Thank you,Sir. That’s all for the AMA today. Thanks for your participation. Thanks for your time.🤝🤝

We have to close the AMA now. For more info about BCHN, visit their website: https://bitcoincashnode.org/

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Written by   125
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Comments

Amazingly written

$ 0.00
11 months ago

What are your major goals to achieve in the next 3-4 years?

im_uname:

A lot of the well-known scaling work that'll enable us to process many more transactions have been stalled over the past couple years as contributors were discouraged due to ABC's management style and combative stance on funding; we plan to address them and fulfill BCH's starting promise as bitcoin that scales.

Sounds great!

$ 0.00
11 months ago

That's great to hear about your success. You gave lot of effort in it. I understand

$ 0.00
11 months ago