[Recap] AMA with UENC Global Ambassador Sam Lindaman — 19 (November 15, 2021)
Q: What is UENC’s core structure and core members?
A: The team has more than 50 full-time staff, 80% of whom are technical staff. The CTO is John Sokol, the chief consultant is Dr. Zhiyu Jiang, and it boasts a strong operations team.
Q: Will there be financial incentives to attract developers?
A: UENC focuses on the underlying infrastructure, and will provide powerful technical assistance to the team that develops DEX on the chain, and will not develop DEX by itself. It will also attract more developers to participate in the construction of the ecosystem through the establishment of a developer ecosystem fund.
Q: Where can I see the total circulation of UENC?
A: Through CMC
Q: What does DPoW stand for, and what are its advantages over other consensus mechanisms?
A: Delegated Proof of Work is a decentralized micro-computational low-energy-consumption mining mechanism without competition. The DPoW consensus algorithm realizes a low-power CPU working mode, reduces the algorithm’s complexity under the premise of ensuring safety, and realizes fast and high concurrency on the chain. Each node has equal rights and enjoys similar rewards.
Q: What are the benefits of CPU mining in UENC?
A: The most significant benefit of CPU mining is the low barrier to entry in terms of hardware investment. Traditional mining is expensive to get started.
Q: What were you hoping to accomplish through the securing measures that UENC implemented?
A: The existence of the staking system and having more than 50% of the staking currency is extraordinarily costly and unrealizable. At the same time, while some miners enjoy low-cost hardware, the pledges contribute to liquidity. Miners and the downstream smart contract ecology fuel consumption form two-way feedback and bring better liquidity.
Q: What plans does UENC have to attract more developers to participate in the ecosystem?
A: There are two main plans:
First, developers’ basis for participating in the ecology must be that UENC can provide outstanding services, such as better experience, transaction efficiency, and lower costs.
Second, a developer foundation will be set up to encourage more high-quality development after the smart contract is launched.
Q: What do you consider the drawbacks of marketing strategies in the crypto space?
A: There are many high-profile projects, such as Swarm, or Chia, which suffer from severe overvaluation. No matter how much of a buzz a project creates, it must have good investor relations to advance effectively.
Q: How is the transaction experience on your chain?
A: UENC uses cross-chain technology to allow more high-energy-consuming encrypted assets to circulate quickly on the chain at a lower cost through the network. It is also easier for companies or individuals to use encrypted tokens to complete the development of DAOs under smart contracts.
Q: What is your position on DEX?
A: UENC focuses on the underlying infrastructure and will provide powerful technical assistance to the team that develops DEX on the chain, and will not develop DEX by itself.