Zurich, Switzerland -- (ReleaseWire) -- 03/25/2020 --On March 14th, Eric Gu, the founder of Metaverse DNA, attended the online AMA event hosted by BW exchange, sharing and exchanging information on the industry's way out in 2020 in current situation.
The following is the AMA recap:
DNA has been out for some time, but for those newcomers who have just entered the currency circle, it should still be a bit strange. Eric, can you tell us more about the Metaverse DNA?
Eric: In this industry, Metaverse is a very old project. It came out in August 2016, and then we started the first round of crowdfunding in September. It went online in February 2017, and it is one of the few public chains in China that can issue digital assets.
In June 2018, the digital identity was added to the main network of Metaverse. In March 2019, Metaverse's security system was upgraded. Changed its consensus algorithm from mining + POW to mining + POS. The next step in planning is to improve the speed and performance of the blockchain, and at the same time be able to interoperate with other public and alliance chains.
After one year of preparations in technology, market, community, etc., we officially launched the DNA project. DNA is not a replacement for the original main chain, but a double-chain system. The double-chain public chain architecture can balance security and performance, and is much more stable than a single-chain system.
What breakthroughs did Metaverse have in terms of technology? What are the core advantages? What difficulties have been encountered during the development process?
Eric: The biggest breakthrough in Metaverse is digital identity and decentralized financial platform. Digital identity is a very central issue in the field of blockchain, and it is crucial to manage digital assets. In 2018, Metaverse has joined digital identity technology, and DNA will make the application of digital identity to the extreme. In the future, users can log in to the decentralized application on Metaverse with one click.
During the development process, we like to be innovative, we will not copy the things of our predecessors, but will continue to try new things. Second, the development team of Metaverse is very international. Sure there will be challenges in communication since we are working distributedly all over the world.
On what exchanges are DNA listed?
Eric: Domestically known exchanges already have DNA on them, such as ZB and BW, etc. Overseas exchanges will also list later. We choose exchanges already listing mainstream and large projects. In the future, there will be a batch of good decentralized exchanges, and we will also consider the cooperation with them.
From exploring the public chain the first year to enabling industry today, "scenario landing" instead of "technical belief" has become a new round of keywords. What do you think about the future ecology of Metaverse DNA? How does Metaverse Public Chain graft other service providers and what services can Metaverse provide?
Eric: Technology is not the entirety of the public chain. I am very happy to see that the entire blockchain culture has slowly changed from the belief in technology from the scene landing. We have also made such mistakes before, and our technology has achieved the strongest. What then? Ignored the market and community construction completely, and turned out that nobody knew about it.
The DNA project in 2020 just made up for the previous deficiencies. Our technology is still strong as always, and we attach great importance to the positioning of the market brand, and at the same time put the community building at the highest position, because the community and the scene are closely related. In the future, the management of Metaverse will be handed over to 23 super nodes. We not only have the project party to implement the project, and 23 nodes have become 23 super partners. They will also help us to implement various projects.
People say that opportunities, timing, and right choice are the keys to success. So can you with us what decisive moments in the development process of DNA can make such a high-quality project?
Eric: The key to success is choosing the right direction, and then sticking to it. Make the right decisions at the critical moment. Starting business comes with a life but nine deaths. The second half of 2018 is indeed very difficult. Fortunately, we have encountered such excellent partners as the Ant Node Alliance. They helped us with the brand positioning of the entire market and community building. At the same time, we did not slow the technical progress and expand the entire technical team to the world. Three points of luck, seven points of choice.
In 2020, U.S. stocks melted down and BTC plummeted. People used to be optimistic about the crypto market, but now the voice of decline continues. How do you judge the trend of the virtual currency market this year?
Eric: US stocks have melted twice recently, and Bitcoin has plummeted a lot. Bitcoin halving market will be in 3 or 6 months after the block reward is halved, probably at the end of 2020. Therefore, before the halving, the Bitcoin market largely followed the US stock market, which is related to the admission of large institutions in 2018. Now that US stocks have plummeted, large institutions need to sell bitcoins to remedy US stock assets. So as long as US stocks stabilize, the future of crypto assets represented by Bitcoin is still bright. The current US $ 5,000 is an extremely abnormal price. It may rebound to US $ 8,000 in the future. It is still worth looking forward to the halving market.
Based on the analysis of the overall market situation in 2020, what areas will Metaverse DNA focus on?
Eric: 2020 is the outbreak of Defi. This year's financial crisis has exacerbated people's mistrust of traditional finance. District centralized finance will further replace traditional finance, and Metaverse has a deep layout in this area. We will launch a decentralized platform on Metaverse, not only global exchanges, but also loans, stablecoins, leveraged transactions, auctions of art, and more. DNA's solution to the problem of Defi is to focus on security. Decentralized finance is not entirely on smart contracts. Digital identity may be a more reliable solution.
Asset allocation is always a major concern for people. For BW users and Metaverse DNA investors, what investment suggestions do you have?
Eric: Blockchain digital assets are high-risk. It is recommended to invest in spare money and do what you can; you also need to know your investment risk appetite. The most stable digital asset is Bitcoin. 50% of the funds should be invested in Bitcoin, and the other 50% can be configured with other digital assets (such as established projects Ethereum and emerging projects DNA). Other air projects are not recommended for investment.
What is the strength of the DNA team and what was the previous background of the boss?
Eric: Our team has a very high level of technology. We have established strong research and product design teams in Canada, Europe, China, and the United States. In terms of market and community construction, the ant node alliance is an integral part of us.
What is the difference between DNA Super Node Election and EOS?
Eric: The yield of DNA node election is much higher than EOS. EOS nodes can choose 30 votes for one EOS, and DNA can only choose 1 vote. The function of DNA super nodes is different from that of EOS nodes. The 23 super nodes of DNA will be our decentralized brokers.
What do you think of the use of a warehouse to vote on the Steemit community by an exchange?It is well known that the DPOS mechanism is the king of votes, so how does Metaverse intend to solve the problem of excessive power of large households? For example, the steem community resisted Sun Yuchen's entry.
Eric: The community, Sun Yuchen, and the exchange have all made mistakes. Especially in a decentralized community, it is an unheard story. As project founders, we will consider how to circumvent these issues.
The DNA blockchain technology, team and community are very strong, and the currency price will also strengthen. Eric, can you tell us what kind of relationship between chain and coin, and how to promote each other?
Eric: Coins and chains are organic and indivisible. Chains are business logic. Coins, like the blood of the entire business logic, circulate the entire business logic. But if with only currency and without business logic, that's actually useless, and it is Air Coin.
DNA also performs well with discounted subscription and opening on other platforms. Does this market plunge have any impact on the opening and progress of To-the-Moon?
Eric: It was indeed very fierce at the time, but DNA rebounded quickly. Coins with strong community support have performed well in the bear market, and the decline in the price of DNA coins means that the To-the-Moon price has also come down, and the space for going up in the future is also large. The To-the-Moon is a benefit for the BW community. I hope everyone will seize the opportunity.
About BW exchange
BW exchange is registered in Australia and headquartered in Singapore. As an exchange with tens of millions of domain names and overseas origin, BW's core competitive advantage is excellent overseas market development, operation capabilities and professional-level financial derivatives development capabilities. It has 11 communities with languages covering Japan, Russia, Indonesia, Vietnam, Africa, Turkey, Malaysia, Spain, India, etc. Currently in Australia, Singapore, South Korea, Japan, Malaysia, Thailand, Philippines, Taiwan, etc. countries and regions, BW has set up centers with all localized operations, which have absolute market share and industry resources in the local market. They provide stable and secure digital asset transaction services to users in 50 countries around the world.
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