One week ago we released the CPChain CPChain Post-mainnet AMA question thread on Reddit and received a warm response from the community. Thanks for the participation and for the questions in the thread, the board members including Long, Shi and Zhao reviewed carefully and answered one by one. Following are the details of the Q&A:
- When ledger nano s/x for mainnet?
We have been talking with Ledger team for several months about supporting the mainnet token and are still in their listing queue. It might take time to finish the deal but we are quite optimistic on that part. Since the conversation has been going on well, we expect it to happen in a short time period. However, the situation is not in our hand but in Ledger team's hand. We will push them to proceed.
- Can you release proof of buyback? A wallet address/addresses will do.
Regarding the buyback program, we have made an announcement several weeks before. Since the entire 1-year session is closed already, we will announce three addresses today for the community to check.
Address 1: 0x09f08d2f1e34ADbccC8f16371b6b7DFe0263b809
This address accounts for around 12 million cpc the foundation bought back. We have sent all the token to burning address and it will be swapped to mainnet token.
Address 2: 0xe688cb2318e9dbcda065029bf26ce2c9131be5db
This address accounts for around 33 million cpc the foundation bought back. The tokens are still in the wallet. （2m cpc bought back have been spent for business purpose with the harsh of 0x45aacd9e81ef36c55688559f1b3498cd2de4fb4719ff1d29d906a9c113dcc8dc ）
These two addresses covered a total amount of over 45m cpc that we bought back. For the rest of closely 5 million cpc we haven't finish, the foundation will burn the tokens. We will give the record of burning after it is done.
- Considering CPChain mainnet is 'just' a fork of ethereum (including all its disadvantages in terms of performance), what part of your code is really very special and deserves applause from the blockchain developer community. Earlier attempts at reviewing the code about 1 year ago was not considered to be impressive. Considering you employ the best academics in IoT and blockchain, please convince us where this team excels and can outpace the competition.
The main novelties of the CPChain are BFT consensus protocol and CPChain ecosystem. In CPChain, a bipartite committee constitutes the core members of the chain. We separate the rights of proposing and validating a certain block, to reduce the potential risk of misbehavior. The consensus protocol of CPChain, namely LBFT 2.0, is a three-layer consensus algorithm handling Byzantine fault problem in a blockchain. On one hand, the majority of an existing blockchain can hardly handle a Byzantine fault due to its fully decentralized structure. On the other hand, classic Practical Byzantine Fault Tolerance (PBFT) algorithm cannot be trivially applied in a blockchain. Thus, we are motivated to develop LBFT 2.0, an algorithm retaining the superior 1/3 fault tolerance of PBFT while perfectly fit in a blockchain. In particular, each validator is a five-state finite state machine, accepting legal blocks and reject illegal ones. The correctness of these algorithms are guaranteed by mathematical proofs, formal specification (via TLA+), exhaustive test cases and plans for all possible abnormal cases and attacks. The CPChain ecosystem is constituted by three kinds of nodes: Economy nodes (ENodes), Reputation Nodes (RNodes), and Industry Nodes (INodes). ENodes gain interest for each of a year by holding a certain amount of tokens. RNodes have the right to mine a block, to earn maintenance rewards. Industry Nodes are special nodes endorsed by CPChain Foundation, which reflects some properties of permissioned blockchain. We experimentally evaluate the performance of Chain in public environment for a month. Over 70 RNodes and 800 common nodes all over the world have participated in this testing. In total 400,000 blocks along with 4.4 million transactions are generated during the month. And the transactions peeks at 1,000 blocks per second. In summary, our contributions are as follows: 1. We propose LBFT 2.0 protocol that can handle at most 1/3 of faulty nodes in the validation process 2. We design DPoR consensus among proposers committee, which evaluates RPT value for each RNode based on five dimensions. 3. We design an ecosystem that nodes can gain rewards from various methods. 4. We theoretically prove the accuracy of the algorithm. And we use TLA+ as the formal specification language to guarantee the correctness of the concurrent processing. In addition, we have exhaustive test cases and plans to handle latent risk and attacks. 5. We experiment with hundreds of nodes all over the nodes in a public environment for a month. The results show satisfactory stability as well as the throughput of the chain. And the value of 1000 tps is on a par with the existing BFT-like blockchains.
- Can we get an explanation on how the CPC rewards taken by the community nodes will be paid back to the active nodes (maybe from TX's?) that came into this early and have been active since the first possible chance of running a node via the spark program
The reward pool for RNodes will fully belong to the RNodes. We have never doubt that and will never occupy this part from the community. We need to reclaim that the missing part of the reward will be back to RNodes in a proper way. The team is making plans to distribute the tokens to RNodes. Please stick to our official channels and once the plan is done we will reveal it to the community.
- Hi team, regarding the security of the program to run a node on the servers. We have seen that in some commands a password file is required and in others the fingering of it. In the next versions, we can see more alternatives for more security of our accounts?
This problem has been fixed in the latest 0.4.7 version. You can use `./cpchain campaign` without the flag `--password`. We will soon update the docs.
- The team has made many mistakes in terms of communication, delaying important milestones (some with almost a year) and response to questions have been lacking, evasive or simply inadequate. Even though you promised to improve on this by not announcing an announcement, or setting a hard date, I still feel the community is not really important to you. I'm happy with the 2-weekly progress report, but not being 100% open about things like buyback program, re-introduces doubt and fear among investors. Is it really your intention to kill all enthusiasm, lose your strongest supporters and just let them sell their stake at a huge loss? If you are genuinely happy with your community, I expect you to step up your efforts, support the price and increase the speed of reaching milestones.
Thanks for the question and we can feel that you really care about the project. The foundation doesn't deny that we made mistakes before in terms of milestone delay and lack of communication. We admit it and have learned a lot from the past. We hope the community has seen a slight change in mind and the little improvement we have reached. We are still far away from the best so we will keep on learning and perfecting ourselves. We have never undervalued our community and you are so important to us. That is the reason we set up a public test phase, lock-up session, different kind of online campaigns. These events might not be worth mentioning but we will keep on planning events for the community to get people around and unite as one.
The core governance community is one of the most important affairs for the CPChain community in the 2nd half of 2019. We have entrusted Node Pacific to create the community. The foundation will assist aside. With the launch of this platform, we aim to create a more decentralized community governance model and empower our community to contribute more forwardly for the strive of this ecosystem. Please refer to the following link and we the Genesis Meeting is about to launch shortly. Everyone from the community is welcomed to attend through Zoom
Regarding the price talk, it seems to be an eternal topic among our investors. We fully understand the focus and concerns on the price. Every investor has the right to care about open market performance. However, from the foundation perspective, we have to consider more other than the price. We know that some of our investors are suggesting us to utilize every means we can to pull up the price and we know what the community is indicating. We know the way and we know the internal logic quite well. Not to say we have quite a lot of resource in hand to realize it. However, the reason why we haven't done it is that we think it is not sustainable and will burn away quite a lot portion of our resources and energy. We always believe to successfully handle a blockchain enterprise is to find a good way to allocate the resources. Since we decide to follow an economic path rather than an aggressive path, we want to stick to it. It doesn't mean we will never change the strategy in the future. We will assess the overall development of the project from time to time and if we think it as necessary, we will make an adjustment based on it.
- If you invest few resources in giving more visualization to your brand, probably the part of the crypto community that knows that CPChain exists will continue to be small, even if you have the best project in the world. You will have the best project in the market with a value of $ 0.00001 for token. I think it's a great project, good team, good partners and the IOT market has many possibilities. On the other hand, few people know about this project and that is a mistake. Is CPChain preparing any large-scale strategy to be more recognized in the crypto space? For example, a campaign with articles on specialized websites of the sector, talking about their achievements so far and what is being worked with partners like BMW? There is always talk of NDA, but many other projects are knowing how to exploit their exploits and are also subject to NDA.
I think the core of this problem is about how to increase the global recognition of the project as well as letting our community know more in-depth about the projects in fields of partnership, tech details, etc.
We do have started to work on it. The Industry Node Partnership Program aims at increasing the reputation of CPChain in the industry filed. The setup of the global community such as Africa, Turkish and Korean community aims to broaden the fan base with a more localized strategy. The announcement of core governance community aims to empower the existing community members to be more involved in the project business and set up a positive public feature of the foundation.
We will increase the content generation of our R&D and partnership in the future. At the same time, media outreach for vital announcement will also be scheduled in the budget.
- What is the correct procedure to completely stop an RNode and return the 200K tokens to the wallet?
b) Using `kill -9` or `killall` commands may incur impeached blocks.
- How can you improve the security of the RNode operation which requires a local copy of the Keystore file and a password file, or entering it at a prompt?
The local copy of the Keystore file is always required in order to access your account. The password file is now not necessary, you can enter it at a prompt. Some users recommend a cold wallet to access the account, which is not suitable for sealing the block. For cold wallet like Ledger, a user is required to press the buttons on Ledger to confirm the transactions. We cannot ask any proposer to press physical buttons whenever the node needs to seal a block.
- Why are CPChain nodes operating as default proposers still necessary? There will soon be over 100 RNodes operational and a majority runs flawlessly. Most impeached blocks I experienced happened during cancelation of an RNode before an upgrade or a reboot.
The motivation of inserting default proposers is to circumvent the worst case, where all community nodes are faulty and chain can only reply on CPChain team nodes. This case is definitely very extreme. But the existence of default proposers guarantees the throughput of the chain under the worst-case scenario. I understand that the community is concerning the loss of rewards. CPChain team will requite the tokens held by default proposers to the community. The detailed method will be unveiled later.
- The price of the token has fallen a lot since the maximum. What plans does the team have for the Cpchain community to increase? If the community doesn't increase, the price will continue to decrease, so I would like to know what the plan is?
The price increase originated from market anticipation. The higher anticipation, the better price will perform. We believe there are many factors will affect the anticipation rate, including market situation, team development, adoption, exchange listing, partnership, media exposure, anthropic intervention, the scale of the community, etc. As we may find, since 2019, the foundation has started to seek a breakthrough in many fields. We have been working closely with our partners to bring out real-world proof of concepts. We have been in touch with several top exchanges in the world, seeking list there. The Industry Node Partnership program has been launched and over 20 INodes has been announced. CPChain localized Korean, Turkish, Africa community have been set up and we are planning more. CPChain core governance community has also started in order to empower the community to get more involved in the ecosystem.
Regarding media exposure, we believe it is not that wise to spend money asking for media report. CPChain has not reached any explosive results in fields of tech adoption. So, for now, the bargaining power towards media is low. We will need to pay for reports and if the media is influential, the named "Sponsor Fee" will be insane. So our strategy for media right now can be concluded in the following way:
- Do not spend too much money on "Sponsored" reports.
- If we need to pay, we only pay when big announcement is going out.
- A strict assessment of media internally regarding reputation, volume, content quality, etc.
Regarding anthropic intervention, we have already explained in the previous question so no repeat here. Only one point to add: we don't thoroughly close the door for mm but we are careful on timing and risk control.
- At the start of CPChain, there was a lot of talk about PDash, but it's been a while since we got an update about that. So how is development going?
PDASH prototype has been developed already and we are talking with our industrial friends to see the potential to place it in real products. The life cycle for PDash is still in a very infant age. We will keep the community updated about PDash.
- I have another question regarding the CPC tokens in Binance DEX. The idea of owning these tokens is excellent since in the future you can increase the volume of CPC and it will be more visible to the crypto world. Is a bridge being developed (similar to the one that Lto Network has) in which we can exchange native CPC tokens to CPC Binance and vice versa quickly and easily?
Yes, we will develop the bridge for our community to ease the process of swapping.
- Are secure transactions still part of the plan? If so how will this be implemented and what is your timeframe?
I am not sure what the “secure transaction” you referred to. If it was “private transaction”, then it has been implemented. Although the Mainnet does not support the private transaction, all functions related to the private transaction have been implemented. By deploying a private chain, you are able to send private transactions.
- Please ask other major team members to join the Telegram every now and then. With tools like Google translate, even Dr. Chengnian Long or Dr. Bin Zhao could say hello and take a few questions every once in a while. I'm sure that will help trust in the team. Sometimes Shi joins, but he's usually gone before we had time to respond :-)
We will ask our C-level to appear more in the community.
- Why did you advise RNodes to run in Singapore. Of course, that is the location where all your 12 nodes are. Isn't this causing huge risks in case Singapore is blown away from the map, or AWS has a major problem causing a long downtime?
Well, there must be a place on earth to put our servers. It can be Europe, America, Australia, Japan, or Singapore. That we put all servers together is to reduce the delay among validators. Thus, the shorter geographical distance between a proposer and Singapore, the shorter delay is. Of course, you can put the server anywhere around the world, it won’t affect too much. As for the case Singapore were blown away, you would better consider your safety since the world is undergoing the WWIII. All joking aside, if a large proportion of validators crashed, surely the chain would have halted. A function called `failback` is used to regain the liveness of the chain when at least 2f+1 loyal validators are working. You can refer to https://docs.cpchain.io/detailed_algorithms/implementation.html#failback for a detailed explanation for it.
- Is the team planning or hiring any business savvy (preferably) Fortune 100/Big Four consultants/senior managers. I feel like the team is very academic-focused.
CPChain started with a relatively academic background. Dr. Long holds his reputation and abundant resources in the academic field. However, we have never thought of us as a pure academic team. And in fact, we are not. We are CPChain Foundation and we need to take responsibility for our shareholders, investors and the community. We always have that sense in mind. We understand the claim from the community to hire someone from Fortune 100 or Big Four and we also know the reason for that. We can tell our community that the entire team has been much stronger and more mutual by learning from the past. Not to say we actually are getting more and more external partners who can help us perfect the ideology of CPChain ecosystem. No matter they are Fortune 100 or Big Four or Big Industry names, the intention is to bring CPChain to a new level. We are working on it and please give us some time.
- When is the wallet release? When is the exchange Swap?
Wallet release will take a few more weeks due to the fact that we need to stay ERC20 for trading/exchange listing. As for now, we can't give an exact date because the listing process is not in our hands but the team is committed and positive that at least one listing will come through in the next few weeks.
To be honest, considering the potential future listing on Binance Dex and several other Top exchanges, we will encourage our community to hold their ERC-20 tokens in order to activate the transactions on the targeting markets. However, we also understand that some of our community members have the demand to swap for RNodes.
After internal discussion, the foundation decides to execute another round of SPARK program for the community. More details will be released next week.