Recapitulation of THREEFOLD PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 20th May, 2021
Time: 12:00 UTC
The THREEFOLD PROJECT team was represented by @Maximilianrang, @BenjeOuss and @Weynandkuijpers who judiciously shared with us detailed knowledge and information about THREEFOLD PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on THREEFOLD?
ANS: My background is creative direction, mainly in the automotive space. At some point I realized that crypto is a lot more promising, then combustion engines. I got into BTC in 2011 and finally changed my focus in 2017 to full time crypto. Very happy to be part of ThreeFolds important mission to bring digital sovereignty on global scale.
Many of the co-founders from ThreeFold have been working to create the internet as we know it since the 90ies
Hey everybody, let me introduce myself, my name is Benjelloun Oussama, friends and colleagues call me Benje, and I lead the Blockchain ecosystem at ThreeFold, working on onboarding Blockchain protocols and dApps to our decentralized cloud and help them navigate the process of moving out from centralized cloud providers
After 5 successful exits totaling 500m, they decided to create something for the people rather then the next big coorp.
Hi - my name is Weynand - no nickname. Rocket scientist by traning and building internet infrastructure since the 90's. Pleased to be here!
Q2: Can you introduce THREEFOLD, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: The digital world that we all are immersing ourselves in runs on huge centralized datacenters
this centraliziation bring a ton of problems:
1. Censorship (like in the case of parler)
2. data leakage (like Snowden proved to the world)
3. datacenters burning down (like recently happened in France) or being subject to outages
4. more problems that deployers of workloads and applications will face when working with huge centralized powerful providers that can basically do anything with our data
as I was part of creating this problem by (helping) building the internet in steps to where we are today, I feel obliged to also help to bring it back to it's true purpose: by people for people. And for this we need to go back to the principle of people that share. So we have biuld technology that:
- includes a tokonomy where people earn by sharing compute and storage capaacity
- includes software that will operate autonomous IT capacity generators
- includes software that represents us all as participants whether we are producing or consuming this by people for people internet.
More details are available - but tooo much for here and now.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We are today the largest peer-to-peer (friend-to-friend) network of IT capacity : 14k cores and 80PetaByte of storage. All owned by people for people. This "grid" can run current stadarda (and leading) IT technologies. Docker, Kubernetes etc. so it's functional and live.
The two major use cases that we service today is:
- run blockchain nodes for blockchain protocols outside of the monopolist clouds (AWS / Google etc) and bring independent and dectralised capacity to these blockchain
secondly - storage. Huge backup capacity for Enterprises (large and small) and personal consumption
That's only the first step neccesary - create a new fabric.
very exciting teaser on that: Ppl will be able to deploy blockchain nodes from our partners via telegram chat.
cant get more simple then that
nodes deployed on the ThreeFold Grid run in a way that allows their integrity to be proven via our smart contract for IT
so its a huge advantage for blockchains to have nodes like that.
You can check out the youtube AMA that CasperLabs did with us, Medha explained it quite well there.
Another huge use case that we've been developing with our Blockchain Partners ( protocols ) is to enable the dApps built on top of them to use our decentralized cloud ( both storage and compute), to make sure they totally decentralize their IT stack, and escape the monopolies of AWS and other centralized cloud providers - a dApp is not decentralized until it decentralizes its cloud infrastrucure as well. so we're helping them become decentralized cloud-native, and Blockchain native at the same time.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We have something big coming with Digibyte. Can´t talk more about it at this point. Be patient.
Also our relationship with CasperLabs is pretty close at this point.
HPE is a large partnership for hardware. Enterprise grade, secure ("silicon route of trust") available globally for farmers (ThreeFold miners).
We have working with them optimising models for more than a year and we have a range of hardware that is perfect for us.
We also have an ecosystem that is building on top of us, called the Alliance for Conscious Internet. Among many remarkable proejcts there, TAG is the biggest. They reach 2.5 Million students a worldwide around climate education and are backed by the UN, 26 governments, Dalai Lama, Dr. Jane Godall etc. We have a big collaboration coming up that will make Elon Musk very happy.
in a nuthshell, let me drop a few of our partners that are world renowned: HPE, Polygon/Matic, CasperLabs, Dash, Neo, TomoChain, Skale labs, Harmony, DragonChain, WaykiChain etc.. you can learn more about our partners here: https://threefold.io/partners
many of them are hyped to get their nodes running on ThreeFold, but there are much more possibilites
the beauty about decentralized capacity is that its vastly unexplored still and almost any project can use it
Think "solar panel" for IT capacity. ☀️
Or if you deploy the digital asset of an NFT on ThreeFold, you decentralize the whole thing, not just the token part.
Much more secure and reliable.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $TFT Token?
ANS: Please kindly also detail about the Quantity of Tokens available on Binance Smart Chain and Does TFT Have a Token Bridge
The ThreeFold Token (TFT) is the official currency of ThreeFold, with each TFT representing a unit of compute and/or storage on the ThreeFold Grid. in a nutshell, TFTs are mined by what we call " Farmers" not miners, and they are the ones providing cloud capacity to the ThreeFold Grid, and in exchange they mint TFTs. and you can all become ThreeFold Farmers, bu plugging it any intel or AMD box with certain functionalities! TFT has a total supply of 4 billion, but the current circulating supply is around 700m tokens ( including locked tokens). The main utility of TFT is to purchase IT/cloud capacity on the ThreeFold grid and pay for decentralized services on ThreeFold's product suite. more info here: https://threefold.io/token
You can check distribution and liquid amounts here: https://wiki.threefold.io/#/threefold__token_overview
TFT is available on PancakeSwap, Liquid exchange. You can got ahead a get your TFTs here: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8f0fb159380176d324542b3a7933f0c2fd0c2bbf
please note that the largest part of our community voluntarily locked their tokens in vesting, without even any incentive. This was done just to prove to everyone that they are in for the long game.
Do not hesitate if you have any questions or need any support with TFT.
2nd Segment: LIVE Questions
Q1: The Internet is the biggest source of information and value but it is a pity that only half of the global population has Internet access today. So it is therefore important to have an architecture that will lay a foundation for a better, scalable and affordable internet for all. Is ThreeFold Grid ready to become the architecture needed for an affordable internet? What measures have ThreeFold Grid put in place to ensure that lack of internet access to the remaining half of the world becomes a thing of the past?
ANS: One big problem preventing global internet acess is that no one wants to build datacenters in remote locations - mainly due to security and lack of reliable sufficient power ressources. But the ThreeFold Grid consists of much smaller units that provide internet capacity. You could put a 3node in a tribal village, add wind power from our partner flowgen and add connectivity from our partner Kleos, for example.
Q2: Threefold provide a platform for 2p2. While researching I didn't see any form of escrow. What will be the base for trust between the persons transcating
ANS: everything workload, and every Tx is P2P on the ThreeFold grid- the way that workloads are P2P is through our smart-contracts for IT and the way our protocol is built. there is no trust between two parties involved.
Q3: How do I get the ThreeFoldToken (TFT)? What platforms can I currently buy them and what platforms do you plan listing on soon?
ANS: you can get TFT on pancakeSwap as of now , here https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8f0fb159380176d324542b3a7933f0c2fd0c2bbf
Q4: Join the P2P universe, with this slogan, so far how many companies and subscribers have registered in the Threefold application? Is there a promotion at the moment to attract new subscribers, clients / partners?
ANS: The technology itself allows for trustless operations. The 3nodes (capacity generators) will read what they need to do in an "operational blockchain". The owner of the 3nodes has to accept the person renting capscity from his. This simplification of the model show that it is a peer to peer and the trust is just like with anythin else : based on reputation. A reputation system will be integrated, based on exisring and new paradigms.
Q5: Is there a guide or documentation that shows how I can set up a 3Node on ThreeFold? What do I need to do to have access to a 3Node and make an income money from it?
ANS: https://www.wiki.threefold.io - farming section.
Q6: First of all, what is your plan to introduce these people to technology and meet their needs? Is it possible to form a global partnership and initiative group on this issue?**
ANS: Absolutely, anybody can join the ThreeFold ecosystem, whether you want to be Farmer and start minting TFT in return for proving Cloud capcity ( just by plugging in a box, where you install our OS, and Voila! you have you own datacenter at your place where you can host applications, If you're a developer, you can already start building totally decentralized, and cloud-native web2 and web3 through the ThreeFold product suite: more info here , cloud.threefold.io
Q7: Who is responsible for the maintenance of the ThreeFold Grid? How cost effective is it for the team to maintain the Threefold Grid and keep it running, knowing that it has over +600 servers and over 16,000 CPU cores worldwide?
ANS: The grid operates autonomous and stateless. The 3nodes habe no operating system installed, they boot "over the network. No maintenance / patching needed. The 3nodes "read/learn" what they needs to do by looking at an "operational blockchain" this blockchain has recipes what needs to be done.
Consumers, deveopers, and farmers all have to agree and sign a "smart contract for IT" which results in this receipe for the node(s) what to do. IT will only come to live when all particiapnts agree (and pays).
Q8: With +14000 CPU cores and + 80,000,000 GB of online storage distributed across 110+ locations in 21+ countries, there's no doubt that this project is massive. Do you mind telling us what operating system 3Nodes run on? How confident are you that this OS will be highly efficient for the successful working of the Threefold grid?
ANS: we use our own operating system, built from the ground up, it's called ZeroOs, you can check it out on Github! it is indeed massive! thanks for the feedback.
They run our own operating system Zero OS. It doesnt respond to mouse or keyboard input and is specifically designed to keep the data inside safe from any unauthorized access. We just published a wiki on energy savings today that covers your question regarding efficiency: https://info.threefold.io/info/internet4#/threefold__energy_savings this is where our teams 25 years experience in cloud really kicks in.
Q9: To participate in ThreeFold's P2P network, what conditions do users need to meet? When moving all personal data to TF Cloud, will your security system work well to protect against attacks from hackers?
ANS: So that is 2 questions. 1. Everyone can become a miner in the ThreeFold grid. We call these miners "Farmers". We offer preconfigured 3nodes on our websites, that can be ordered as of now! They are plug&farm, you need electricity and internet connectivity. 2. The ThreeFold grid will protect you from hackers on the datacenter level. To hack the data on a threefold grid, you would need to be in 6+ storage locations at once, with the correct encryption key AND manipulate 3nodes on a hardware level. The operating system we use for 3nodes doesnt respond to keyboard or mouse inputs. So it is really really secure.
Q10: $THREEFOLD aims to bring innovative technologies, right? So how will these innovative technologies help the blockchain industry to work more transparently and securely against from hackers?
ANS: The platform is very secure and scalable. The 3nodes are "solar panels" for IT capacity and do _NOT_ allow people to interact with them. NOt direct (keyboard) nor over the network. The 3nodes disover what they needs to do by reading an operational blockchain and for worklaods to be committed to this blockchain all participants need to agree and sign.
Q11: As more top blockchain protocols are beginning to integrate their infrastructure into the ThreeFold Decentralized cloud, do you think there will be no congestion in the future? And as the first decentralized cloud related token on BSC, how do you intend to keep up with the feat already attained?
ANS: Great Question, there is indeed no congestion as the ThreeFold grid is always expanding in terms of capacity and locations. The way the ThreeFold P2P cloud is designed is that there is no limit to how scalable it can get. More nodes/more farms on the network, mean more scalabilty. We have redesigned the way Blockchain protocols can use decentralized cloud computing, and how they can power their workloads. In terms of BSC and being the first, there will be definitely another one for sure, but it's all about providing the best infrastrucure possible, and the most cost-effective one.
Q12: ThreeFold has the incredible mission of providing fair and uninterrupted access to the Internet in every corner of the world, but I have a question. How does the project plan to face the centralized regulations that authoritarian governments such as Venezuela, North Korea, multiple African countries and even developed countries such as the United States or the United Kingdom can exercise?
ANS: ThreeFold offers the technology stack to the world where people decide to become a farmer (and when they do so they need to make up their mind to be compliant with local law / regulations or not. The technology is not their to circumvent regulations, it invites people to work within those regulations.
Q13: In solving energy efficiency in the blockchain space, you mentioned attacking the root problems. To attack the root problem, you have to identify it. What have you identified as the root problem and how can this problem be solved?
ANS: The inefficiency even with non-pow blockchains is the huge redundancy in data. Every blockchain node stores the same information. ThreeFold offers a more efficient alternative because the data stored on TF is only in one location - but still has blockchain-like reliability and security.
Q14: https://twitter.com/Mughal78068060/status/1395355680350031872?s=19I am still new to cryto why i invest my hard earned money in #Threefold project when i am seeing that many people lost money due to rug pull done by various projects like sushi , what unique feature you are offering me which going to protect my money and prevent these rug pulls?
ANS: I did not really look deep into rug pull projects but I know that the founders rarely show their faces. Our founders have a realy entrepreneurial background and a lot of reputation at stake. If we just wanted to make money, we would not go that difficult route and try to do something that no one does. You can come and meet us in person at AIBC Dubai or BTC conference in Miami if you want too. In Dubai Kristof will be holding a keynote. Also please check our partners and companies we work with. They are all quite reputable, did their due diligence and found us trustworthy.
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