To celebrate the launch of DREP on Bithumb Global, DREP founder Xiaolong was invited by Bithumb Global to be a guest of Bithumb Global ’s official Korean community for AMA sharing on October 15th at 3:00 p.m. Korea time (2 p.m. Beijing time). DREP advantages and follow-up development plan.
The following is the live content:
Xiaolong introduces herself:
Good evening, everyone. I am Xiaolong, co-founder of DREP.
I am very happy to come to the Korean community at BithumbGlobal and hope to have a pleasant AMA time with everyone.
Xiaolong introduces DREP:
DREP is committed to creating "connectors" and "toolboxes" based on blockchain technology, providing solutions that are flexible, easy to use, and non-inductive. The DREP pre-mainnet is now online and open source. DREP mobile client, wallet, browser, and DREP Mining, the first miner parkour game based on DREP SDK, have also been officially launched.
DREP has provided technical services to more than 50 financial, Internet, real estate and other industries in the world, such as Ant Financial ’s Australian official partner Harkhark, Australia ’s largest O2O platform Yeeyi, Middle East Meituan Comebey, game asset trading unicorn platform price器 等。 Such as. "League of Legends" game development company Riot China operations director Daniel Wang is a DREP game ecology consultant, DREP SDK provides technical support for game companies including GameBank, GameFarmer and so on.
DREP is the first blockchain practice base of Nanyang Science and Technology Innovation Center, which is personally awarded by the president of Nanyang Technological University in Singapore. At the same time, DREP is also a specially appointed cooperative institution of the University of Sydney, Sungkyunkwan University and Qingxi University Blockchain Club.
The main investment institutions of DREP include Huobi Ecological Fund, Kucoin Fund, Qtum Foundation, Block VC, 360 Innovation Fund, Oneboat Capital, etc. DREP is currently listed on nearly 10 trading platforms including Bithumb Global, Gate.io, Binance DEX, and BitMax.
Moderator questions:
1. Congratulations DREP has officially landed on Bithumb Global on September 26 and opened DREP / USDT trading pair. Here, Xiaolong is always convenient for users of Bithumb Global to briefly introduce the highlights and advantages of the DREP project?
Xiaolong:
Hello everyone, some highlights of the DREP project are briefly summarized as follows:
1. DREP is the industry's first project to support the multi-chain version of DApp one-click release.
2. The DREP self-developed SDK can create "super applications" that are not restricted to any public chain. At present, the first application DREP Mining has been launched for public beta.
3. DREP game ecology consultant is Daniel Wang, the operation director of League of Legends.
4. DREP pre-mainnet has been launched and open sourced in September 2019.
5. DREP is the world's first blockchain practice base in Nanyang Science and Technology Innovation Center, and is personally awarded by the president of Nanyang Technological University in Singapore.
6. DREP is a core member of China Singapore Innovation Enterprise Alliance SSIA
7. DREP has achieved technical integration with more than 50+ companies worldwide
8. DREP investment institutions include Huobi Ecology, 360 Innovation Capital, Quantum Chain Foundation, Kucoin Fund, Block VC, etc.
9. DREP is the second Startup project announced by Gate.io in the first batch. The number of GTs participating in the snap-up of DREP quota exceeds half of the currency issuance of Gate.io platform.
In terms of technology, DREP's pre-mainnet, client (and wallet), browser, and SDK games are all online and open source. You can experience:
DREP Chain Pre-Mainnet: https://github.com/drep-project
DREP Mobile Client: https://drep.org/wallet
DREP Web Client: https://github.com/drep-project/DREP_Wallet
DREP Browser: http://explorer.drep.org/
DREP SDK Application: https://drep.org/wallet
The main technical performance advantages that DREP has achieved are:
1. The DREP public chain is a high-performance public chain fully developed by the DREP development team. It is compatible with smart contracts in EVM and WASM formats. It has a two-layer architecture: a stable root chain and a customizable sub-chain system.
2. The smart pipeline technology (Smart Pipeline) proposed by DREP can transfer data between the blockchain virtual machine and external applications, improve batch data processing capabilities, high efficiency, strong expansion, zero gas, and solve the problem of smart contracts (Smart Contract) Realistic needs solved.
3. In order to improve network efficiency and reduce transmission overhead, DREP uses Schnorr multi-signature algorithm based on Secp256k1 elliptic curve.
4. To achieve data concatenation and privacy protection, DREP has designed a decentralized ID system based on the HMAC algorithm to form a layered system with a main ID and multiple sub-IDs. Allow users to manage data and assets on centralized and decentralized platforms through the DREP client.
5. In order to strengthen data privacy protection, DREP adopts homomorphic encryption to perform data processing on information that users consider to be private.
6. In order to provide the long-term holding value of DREP DID, DREP has launched a reputation system, including universal reputation protocol, reputation pipeline interface, reputation data chaining and algorithm library, reputation incentive mechanism, reputation account management and false detection.
7. In order to reduce the threshold of technology use and education costs, DREP has developed APIs, plug-ins and SDKs for vertical industries, which can support the DApp team to publish multi-public chain asset support versions with one click, built-in game wallet and asset trading platform, based on shared DREP ID Acquire users of multiple public chains and convert all kinds of digital asset holders into users without any sense.
8. DREP code style is to service-oriented programming, similar to Java's Spring container development. In the code of most blockchain projects, the coupling between various modules is serious. The DREP method fully decouples each module, the code can be easily refactored, and the logic is clear.
In terms of ecological expansion, DREP has provided technical services to more than 50 financial, Internet, real estate and other industries in the world, and important reports include:
1. DREP Becomes the Founding Member of Sino-Singapore Innovation Alliance: https://link.medium.com/JGBPP7MSo0
2. DREP Becomes the First Blockchain Apprentice Facility for Nanyang Technology Innovation Center: https://link.medium.com/pr91r8VQo0
3. Ant Financial Australian Partner HarkHark Joins DREP Chain: https://link.medium.com/G7n6FfxRo0
4. Riot China COO Joins DREP as Gaming Advisor: https://link.medium.com/gZaA7jBQo0
5. DREP Joins the DIF along with Microsoft and IBM: https://link.medium.com/gYnTW4nQo0
6. DREP Inked Partnership with the University of Sydney Blockchain Society: https://link.medium.com/SnE5rP5So0https
7. DREP Inked Partnership with Gaming Unicorn Bijiaqi: https://link.medium.com/2BXq6X3Po0
8. Chinese Top Gaming Incubator Tuoluo Partners with DREP: https://link.medium.com/LMjyPgIQo0
9. Comebey to be First Commercial DR-App on DREP: https://link.medium.com/taW97WbRo0
10. Australian Leading O2O Platform Yeeyi Joins DREP Chain: https://www.forbes.com/sites/shermanlee/2018/08/13/a-decentralized-reputation-system-how-blockchain-can-restore-trust-in-online-markets/#2eeeb079481a
2. Because our community is mainly Korean trading users, can Xiaolong always briefly introduce the progress and achievements of DREP in the Korean market?
Xiaolong:
The Korean market is one of the target markets for DREP's key development business partners and community members. Since 2018, we have continuously strived to speak in the Korean market.
We have participated in many reports of Korean media video interviews before, here are a few, so that everyone can review it when they have time:
1. Asia Economic tv interview with DREP founder team and DREP consultant Riot China Daniel Wang:
https://www.youtube.com/watch?v=hm54Q12xS8g
2. TVCC's interview with DREP founder team and DREP consultant Riot China Daniel Wang:
3. Interview report of the famous Korean blockchain KOL to the DREP team:
https://m.youtube.com/watch?v=7is8Mo2XzF8
4. Interview with DREP team by well-known South Korean blockchain media HKBNews:
https://mp.weixin.qq.com/s/xPmN_2Ka-W6uQh181Zqt-w
In terms of business development in the Korean market, the DREP core team has visited South Korea many times. Among them, Daniel Wang, the game director of League of Legends game research and development, has served as the DREP game ecological consultant. Daniel and the DREP core team have visited many well-known Korean game companies:
https://mp.weixin.qq.com/s/Efs18UjsPcYuhDakLJumkQ。
In terms of the Korean developer community, the DREP Foundation has reached a partnership with the Sungkyunkwan University in Korea and the Blockchain Association of Kyung Hee University in South Korea, and jointly held offline developer exchange activities:
https://mp.weixin.qq.com/s/yKbUGgREMt8S2oOD7lm2mw。
In terms of community, there are currently 2 official Kakao groups in DREP, with more than 700 active people. If you are interested, you can join our Kakao group and follow DREP's dynamics in time:
https://open.kakao.com/o/g5NUg5N
3. After DREP launched its online trading platform for the first time in April this year, it has already logged in nearly 10 trading platforms including Bithumb Global. What are the important developments in the past six months since its launch?
Xiaolong:
Prior to landing on Gate.io Startup, DREP has been dominated by overseas communities, and has been in the top position in the rankings of overseas rating agencies and influencer. The launch of Gate.io Startup attracted more community users in China. At that time, more than 32,900 people participated in the DREP subscription, and the number of GTs participating in the subscription exceeded half of the GT circulation. The next five months are the most significant period of time for our R & D, product and business progress.
In terms of technology research and development, we have updated multiple test versions of the DREP mainnet. In September, we just launched the DREP pre-mainnet DREP Planck. As the last test version before the mainnet launch, the overall performance has been greatly optimized, including: improved database read speed, increased data transmission speed between nodes, block synchronization between nodes increased by 2 times, new The Trace function can monitor the running direction and data flow direction of internal commands in real time. The added receipt function enables DREP light nodes to verify transaction data information, and the DREP mobile client is launched.
DREP testnet 1.0:
https://mp.weixin.qq.com/s/zdxbdihObBZhir57EVHqAw
DREP Testnet 2.0:
https://mp.weixin.qq.com/s/HKx0Ba_ctr0yyxhG8eX0BQ
DREP testnet 3.0:
https://mp.weixin.qq.com/s/MImcOI1MX3okfxFqrsspLw
DREP pre-mainnet:
https://mp.weixin.qq.com/s/MTS24tlm9sjinuX7Y6Uizg
DREP client (Web version):
https://mp.weixin.qq.com/s/l3orJ6iCXdGYfiIXvncUAw
DREP client (mobile version):
https://mp.weixin.qq.com/s/dmnibP6n3PWmVvyjh47gDA
In terms of business development, DREP and Yeeyi (58 Australian cities) and Harkhark (Australian Meituan Dianping), which have already carried out technical docking, continue to complete technical joint debugging and have received progress reports from multiple overseas media. At the same time, DREP also officially announced more traditional field companies or blockchain companies that have served and cooperated, such as Middle East blockchain solution provider BlockGemini, game unicorn platform price comparator, DIF (decentralized digital Identity Alliance) etc.
DREP team and consultant team "League of Legends" Riot China operations director visited South Korea:
https://mp.weixin.qq.com/s/Efs18UjsPcYuhDakLJumkQ
DREP joined DIF to explore the development of decentralized ID with companies such as Microsoft, IBM, Accenture and others:
https://mp.weixin.qq.com/s/_78adatgim1Yw4i1ycrxyQ
DREP and BlockGemini cooperated in depth to work together to support the Dubai blockchain "2020 plan":
https://mp.weixin.qq.com/s/GHyJN0mnd6MK1DaORIxCFA
DREP and the unicorn game platform price comparison device reached in-depth strategic cooperation:
https://mp.weixin.qq.com/s/jSU56UcflEsGTo4wzM2FIw
In terms of developer community, after becoming the world's first blockchain practice base in Nanyang Science and Technology Innovation Center, and after officially cooperating with the blockchain communities of Kyung Hee University and Sungkyunkwan University, DREP Foundation and the University of Sydney Blockchain Association Build a developer community, and hold a blockchain developer event with the University of Sydney, the University of New South Wales, and the University of Technology Sydney.
The DREP Foundation officially announced that it will build a developer community with the University of Sydney Blockchain Association:
https://mp.weixin.qq.com/s/bYLn-hSOt3sr1tmyaggIuw
The world's top EMBA president class TRIUM and DREP empower the hundreds of millions of digital points market:
https://mp.weixin.qq.com/s/LvdC_ujXzN5TXXACouSOfA
DREP became the first blockchain practice base of Nanyang International Science and Technology Innovation Center. Leaders of Nanyang Technological University visited DREP Foundation in person:
https://mp.weixin.qq.com/s/GSNbLco9N5c4xdROWKWShA
4. We learned that before DREP Xiaolong founded DREP, he used to be the technical leader of Qtum, and also had many years of game development experience in Tencent Tianmei Game Studio, which produced "Glory of the King". What is the goal and vision of Xiaolong's creation of DREP?
Xiaolong:
I used to work at Tencent. Tencent ’s philosophy was to build Internet connectors and toolboxes. It was also Tencent ’s experience after several iterations of the Internet to mobile Internet.
Our goal is to create a connector and toolbox for the blockchain, which means that our positioning is also an interface and a bridge, rather than a large and complete closed-loop ecology.
While Qtum was in charge of technology research and development, I experienced the complete ecological development of Qtum public chain from 0 to 1. I think the real bottleneck in the current development of blockchain is not the bottleneck in performance and technology. The public chain has achieved many breakthroughs in technology, but the DApps it serves lack real users; solutions in the cross-chain field are endless, but its cross-linked chains have no active ecology.
Therefore, DREP mainly solves two types of problems:
1. Public blockchain ecological split, small base of blockchain users
2. Blockchain technology is decoupled from the needs of physical enterprises, with poor usability and difficulty in landing
Although DREP has its own independently developed public chain, we do not want the development of applications to be restricted to any public chain ecology. Our goals are:
The DApp R & D team will be able to release multi-chain versions with one click, support any kind of digital assets, and call DREP's mature technical interface without any influence.
DREP's core products include DREP Chain, DREP ID and DREP SDK.
V. Thank you Xiaolong for your explanation. If DREP's vision is to "break the status quo of public chain ecological separatism", how does Xiaolong always view the voices in the industry that have questioned the long-term viability of public chains? How does DREP subvert the traditional public chain development model?
Xiaolong:
Many public chain teams devoted to technology research and development are often totally denied because of the depreciation of public chain tokens. Finding a suitable location and obtaining a path for users holding currency is very important in a crowded blockchain circuit. DREP also has a public chain that is completely independently developed by us, but we intentionally obscure the attribute of "public chain", which is to break the "established model" of public chain development. The public chain is only one of the blockchain technology solutions, and the technical characteristics or advantages are necessary conditions, not sufficient conditions.
DREP's vision is simple, highly concurrent, user-friendly, and commercial. The straightforward point is that performance does not become a bottleneck for commercial use, allowing users to use blockchain services without feeling, linking data islands to achieve current commercial value.
To be a blockchain application, you need to polish your own products like the Internet startup team, and lower the threshold of use and improve the user experience. At the same time, to the target users who have developed path dependence, with a transitional solution. Before the testnet was officially open-sourced in 2018, DREP has started technology connection with Internet companies in the Middle East and Australia to revise its technical product solutions at any time.
6. Ok, now whether it is based on the DREP public chain, or tools such as the DREP SDK, have there been any landing applications? What is the product and ecological structure of DREP that has been implemented or is being planned?
Xiaolong:
As mentioned earlier, before the testnet was officially open sourced in 2018, DREP has started technology docking with Internet companies in the Middle East and Australia to revise its technical product solutions at any time. The main cooperative landing enterprises are:
| Yeeyi Australia 58 City-Australia's largest O2O life service platform
-2,500,000 registered users
-300,000+ monthly active users
| Harkhark Is Australia Hungry-Takeaway, Ticketing, Travel and Group Buying Services
-450,000 registered users
-Monthly active users 31,000+
| Comebey Middle East Meituan-Group buying platform for Chinese in the Middle East
-120,000 registered users
-20,000+ monthly active users
The technical products that DREP has launched are:
DREP public chain pre-mainnet:
https://github.com/drep-project
DREP mobile client:
DREP computer client:
https://github.com/drep-project/DREP_Wallet
DREP browser:
The first self-developed gamification application of DREP SDK:
DREP's landing product ecology is mainly focused on the DREP SDK. Because DREP SDK integrates various DREP self-developed development tools and interfaces such as multi-currency payment, cross-platform account system, deflation economic model, and product built-in exchange transaction interface, subsequent products will be prioritized to connect with DREP SDK, which can help to go to the center Application, or traditional centralized application, to achieve the goal of one-click release of multi-chain versions and user-less migration.
Based on the DREP SDK, DREP launched a self-developed blockchain miner parkour game "DREP Mining". In September, it officially launched the Alpha version as a demonstration case applied to the DREP SDK. "DREP Mining" is a multi-currency payment SDK , Mining with coins, interest generation by locking positions, etc. Users earn points through the game, and the points can be used to exchange RP. RP is not only the basis for the player's record ranking, but more importantly, RP can be exchanged for mainstream currency in the later period.
As a blockchain miner parkour game, "DREP Mining" has more features and functions.
1. A complete incentive model, players do not need krypton gold, no pre-recharge, and play games to gain.
2. Increase the DREP TOKEN consumption scenario, and at the same time reduce the liquidity through the short-term lock-up mode, and optimize the TOKEN value model.
3. Add functional interfaces in the client to attract more traffic cooperation.
4. Built-in blockchain multi-currency payment SDK, which can directly interface with centralized games and centralized applications, reduce the threshold for traditional enterprises to dock blockchain, and enrich in-app payment methods.
7. DREP has indeed completed the landing of many technical products on a down-to-earth basis, so what are the use and consumption scenarios of DREP Token in these product systems?
Xiaolong:
The usage scenarios in the DREP ecosystem in DREP Token are:
1. Network friction cost Gas;
2. The only payment method for cross-chain transactions between sub-chains (DApps);
3. All data related transaction payment methods in the network;
4. Pre-sale of assets in the DREP SDK, application of major currencies supported by Launchpad;
5. Mortgage assets of credit entrustment and structured financial product transactions in DREP Client;
6. DREP is the only payment method and trading asset in the upcoming game.
Taking a self-developed blockchain miner parkour game "DREP Mining" based on DREP SDK as an example, DREP Token acts as a mortgage asset in the game to strengthen DREP's consumption scenario and deflation economic model:
8. Finally, we would like to know what is the status of DREP's current token structure, circulation, and future release ratio? Are there any stimulus plans directly related to DREP Token such as repurchase / destruction, staking, and nodes in the near future?
Xiaolong:
The current circulation on the market is 2.098 billion tokens, and the total issuance is 10 billion tokens. The next time DREP is unlocked is after the DREP mainnet is officially launched and the mainnet is switched. The mainnet is expected to be launched by the end of 2019.
The DREP Foundation, team, and consultants hold a total of 30% of the currency holdings, and will lock the position for 1 year. From May 2020, it will be released at a rate of 15% every six months.
In September DREP also announced its own Insurance Scheme, including: DREP Foundation will permanently destroy 100 million DREPs from the holding share to reduce the future secondary market circulation of DREP; DREP Foundation will be launched after the main online , And gradually start the secondary market repurchase plan.
The next DREP plans are:
1. There is no new circulation before switching mainnet coins-DREP's current circulation ratio is about 20%, and before we officially switch mainnet coins (mainnet is expected to be launched at the end of the year), there will not be any new DREP in the market Increase circulation.
2. DREP liquidity deflation model as a value support-we will obtain revenue through the cooperation with the exchange PoS / fixed deposit products, lock / hold positions in the DREP game, the successive implementation of the DREP Staking plan, in the existing circulation ratio Deflation continued.
3. DREP Foundation destroys 100 million DREPs-Recently, the DREP Fund also announced that it will permanently destroy 100 million DREPs from the locked shares to reduce DREP's future secondary market circulation.
4. DREP repurchase plan-DREP Foundation will launch the secondary market repurchase plan after the main online launch.
User questions:
1. Can Korean traders trade DREP on Korean local exchanges?
Xiaolong:
DREP has officially launched the Bithumb Global Exchange on September 25 this year and opened the DREP / USDT trading pair. At the same time, in order to celebrate the official launch of DREP on Bithumb Global, the exchange held a "Recharge & Buy 5,000,000 DREP" welfare activity. In the future, we will also launch more activities on Bithumb Global, and you are welcome to go to the transaction.
In addition, we learned that there are also some local Korean exchanges that have actively launched DREP's KRW trading pairs. However, DREP will continue to connect with the exchanges at the head of South Korea to strive for faster participation in DREP / KRW transactions.
2. I see that Huobi is the investment institution of DREP. Will Huobi or other larger exchanges be listed after DREP?
Xiaolong:
Huobi Ecological Fund is one of DREP's early investment institutions. In addition, there are many other trading platforms among DREP investors, such as Kucoin, Oneboat (Gate.io), CoinW, etc. The reason why DREP has received favor and investment from many exchanges is mainly because DREP has a leading position in terms of technical advantages, flow advantages and team industry resources.
Striving for faster online launch of more first-tier big exchanges has always been what we are doing, I believe that sooner there will be good news to tell everyone!
3. Many coins appear and disappear now. What is DREP's sustainable development strategy?
Xiaolong:
1. DREP is very cautious in terms of fund management and use and aims at actual investment return, so for now, DREP can operate for a long time;
2. DREP has profitable space in products and business. For example, we have a source of income in technical cooperation with traditional enterprises, so in the long run, it has the ability to make blood.
4. Mr. Xiaolong, how many transactions can be made for DREP transactions?
Xiaolong:
Hello, there are currently nearly 10 DREP transactions online, including Gate.io, Binance DEX, Bitmax, etc.
5. What are the reasons for choosing bg?
Xiaolong:
Bitumb Global is what we think is a very high-quality trading platform, and its influence is great in many regional markets. At the same time, listing bg is also an important part of our development to the Korean market.
Conclusion:
Thank you very much Bithumb Global for your invitation to come here, and thank you for your questions and attention and support for DREP. We will continue to bring you more good news about DREP in the future, so stay tuned, and the beautiful lady of the DREP team also Will log in to the official Youtube channel of DREP (October 23, 16:00), and will play games with you live broadcast. There will be many surprises during the live broadcast. The younger sister will give red envelope rewards to the live viewers who participate in the question. Watch our live broadcast, thank you!
DREP Youtube official channel link:
