Recapitulation of AlveyChain PROJECT AMA event held at AMA LOVERS CLUB.
Date: Tuesday, 16th August, 2022
Time: 15:00 AM UTC
The AlveyChain PROJECT team was represented by @Naur_ALV who judiciously shared with us detailed knowledge and information about AlveyChain PROJECT.
1st Segment: INTRODUCTION
✨✨QUESTION1🩸: Can you please introduce yourself and your background, also introduce the team working on AlveyChain?
👉ANS: My name is Naur and I’m the founder of Alvey chain. My backgrounds as a developer in solidity, html5, rust and so on. We started our first blockchain project with a team of developers really skilled in c++, rust,python and so on. We are all over the world including Romania, Colombia, Japan,Egypt.
✨✨Is the entire team doxxed?
Naur -The lider - EVM developer ( creator of smartcontracts , web developer)
Aelin - Internal affairs - Daily administrative operations
Gwelu - Social Media Manager (brand specialist)
Ardhon - IT Bussiness Specialist - Security, Design, Marketing
Nico- Blockchain designer, developer, big data
Andres- Blockchain architect, Ruby, C++ developer
Sixel Design - unity 3d , Unreal Engine.
✨✨QUESTION2🩸: Can you introduce AlveyChain project, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
👉ANS: Yes. I will starts with some facts first.
Alvey Chain 7500 TPS , Solana 2800 TPS , Ethereum 50 TPS
What is Alvey Chain ?
Alvey is a decentralised blockchain with a proof-of-stake consensus model, meaning that the author of the subsequent block is selected at random based on how much cryptocurrency they have in their wallet and how mature that wallet is, continuously rotating addresses to ensure decentralisation and network participation. Blocks are usually built or minted rather than mined; there are also block rewards in addition to transaction fees, thus, builders receive a percentage of "interest" on the amount of funds they bet. This allows the chain to achieve high levels of security without excessive energy consumption, since to participate as an applicable active node for staking, is enough to have a Raspberry-Pi, laptop or 64-bit desktop PC which do not have such a high consumption compared to Proof of Work string mining rigs. Alvey supports the Bitcoin and Ethereum ecosystems. We use a pragmatic design approach to integrate metaverse and VR within the blockchain, allowing continuous development of real-world applications. Furthermore, it is spreading awareness of blockchain technology to many Internet users while also decentralizing PoS transaction validation internationally, over a long period of time. As a project, we are committed to establishing a connection between what we love and what we do everyday. We believe that this will lead to creativity and success. Plus, we are building the world's first VR Exchange on Alvey Metaverse.Done
It's said that AlveyChain is built on bitcoin's UTXO model, can you give some information on this?
When we started our chain we did tests after test to figure it out what is the safest way to create the best product. By integrate the Bitcoin UTXO model or template, we added an extra layer of security and safety. When we started we checked many codes from previous blockchains that could merge with our chain who was at the beginning a POW. We found out that black coin used a EVM compatible with Bitcoin ''template'' or UTXO and we used their example to integrate it to our chain. We can say that our success in bringing back this amazing technological discovery allows us to be one of the most secured project on the market.
Our wallet implements a full node of the blockchain who is capable of storing, validating, and distributing all the history of Alvey Chain. A.C.C (wallet) is considered a part of the blockchain itself.
✨✨QUESTION3🩸: Now, let's talk about past achievements of AlveyChain team!
Can you briefly tell us some key achievement of AlveyChain as a project since commencement and what is to come in the nearest future?
👉ANS: Yes, sure
Here we got our achievements at this point of time, today :
Blockchain - Alfa
Explorer - Alfa
Staking - Alfa
Superstaking - Alfa
Delegation - Alfa
Wallet windows - Alfa
Wallet linux - Alfa
Wallet android - not yet
Wallet iOS - not yet
Metaverse - test net
VR Exchange mockup,test,api test
We built the blockchain who is up and running for 6 months, means that our coins reached maturity and we can stake it off-line directly with our wallet. Our chain have the ability to support high level of traffic and is ready to create his own addresses without other nodes or other script running on the background server. The explorer is up and running where you can check inn real time the txh and your unique alvey address with your amount of coins. Just with ACC wallet you can create your own NFT, Meme tokens,, DEX.
✨✨QUESTION4🩸: Can you briefly describe your PARTNERSHIPS and BACKERS so far?
👉ANS: One of our partners are still in private sale at this moment and we can't make it officially until they finish this step.. The best feedback we had with Pinksale as a partner and Pioneer from Silicon Valey. Other partners we will announce them this week and make it officially. The backers of our projects are the members of our community. The best community I ever saw in my entire life. I know that you guys are watching and we love you !
✨✨QUESTION5🩸: Alright, let's take the final question on this segment!
Can you give an overview of the Tokenomics and Utility of Alvey Tokens?
We reached 574 bnb HC yesterday and we are extremely happy !
The Alvey Chain provides a wide range of utilities including, building your own meme tokens, NFTs, and smart contracts to create value on top of our blockchain. The ACC wallet allows you to stake directly, as well as do superstaking and delegation. You can also build a dex, a NFT marketplace or a launchpad. All fees are distributed among stakers and validators using our coin in transactions and deployments on Alvey. You can use our coin directly on an exchange with fiat via our payment gateaway of your ACC wallet. We are planning on building our first DEX (like Uniswap, Pancakeswap) where you can trade your favourite projects. We will wrap USDT, USDC, ETH, BNB and more. Another important utility in our project are the adds placed inside the metaverse and the explorer. Furthermore, our VR exchange will allow users with at least 200 ALV to access it, thereby creating a stable ecosystem between our coin and its use. As a result, we are uniquely positioned to become the number 1 metaverse blockchain in the world.
2nd Segment: LIVE Questions
✨✨QUESTION1🩸: Is ALVEYCHAIN WALLET IS OFFICIALLY ARRIVED ON THE IOS because Mostly players Love to Join With their MOBILE Phones , So Can i see it on GOOGLE PLAY STORE. ?
👉ANS: Great question: Our wallet on iOS will be ready in 3 weeks ( depends on the security check from their side), but the android wallet will be ready first in 2 weeks. You have to try it out!
✨✨QUESTION2🩸: What are the requirements to become a validator and what are the benefits?
👉ANS: To become a validator in our chain you will need to buy or wrapped version of the coin wALV who is traded on pancake swap and then you will need to swap to ALV native coin via our DEX. Thel validator has extremely high rewards just by staking the coins on our chain.
✨✨QUESTION3🩸: I read that you are targeting a credit card integration in Stage 3 in your roadmap. Other projects related to this also have goals, but they have not progressed far enough yet. Have you considered the challenge of adopting crypto-based crypto cards? Are we ready for this?
👉ANS: The integration of the credit cards into our wallets will be via a provider who is extremely secured. Yes we will have a partner that will integrate the payment system for us.
✨✨QUESTION4🩸: Is ALVEYCHAIN GOVERNANCE has been Launched , If yes kindly tell us about the Governance , and How the Users can Participate or join the GOVERNANCE ?
👉ANS: We will become fully DAO in 2 months. We already got the delegation who is up and running on our wallet.
✨✨QUESTION5🩸: Does AlveyChain has plan of integrating with more chains or you only intend operating on Solana chain?
👉ANS: Yes, our goal is to integrate in the top chains at this early stage.We think that is important to get a large audience, developers and creators in general. This is the way to scale even more in the future.
👉Follow Us On Our Various Social Media Communities For More Update👇👇👇
Our metaverse will be ready soon here some insights : https://www.youtube.com/watch?v=vxqWuh6JaDY
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