[AMA] GMMT AMA WITH TAPBIT
GMMT Coin was listed on the Tapbit Exchange on April 10. In addition, we conducted AMA on Tapbit Telegram, and we summarized the details.
1. Introduce
Hello. Everyone.
I’m John, Chairman of the Mammoth Foundation.
I have at least 10 years of IT experience and have been leading the company as a representative of a developer until now.
In addition, based on blockchain technology, the Mammoth Foundation has been established to carry out the mainnet project.
The Mammoth Foundation develops various technologies such as augmented reality, artificial intelligence, and block chain, which are the core technologies of the 4th industrial revolution, and plans, develops, and operates platforms.
2. Question & Answer
Q. At First, please introduce Mammoth Foundation and Mainnet Mammoth Chain.
A. Giant Mammoth Chain is designed to be suitable for all services such as Web3.0, NFT, Metaverse, and Platform, and GMMT is a utility coin with Gas Fee, Reward, and Payment functions.
The purpose of the Mammoth Foundation is not to monopolize profits, but to build a public ecosystem by distributing profits to all participants as much as they contribute.
This can be explained through the PoSA consensus algorithm. Rewards are distributed according to stake, and validators can be elected through decision-making by users with stake through DAO.
In addition, we are implementing a strategy to further expand the ecosystem by applying blockchain technology to non-blockchain industries. For example, it is not limited to any industry, such as broadcasting stations, telecommunications companies, and food companies.
Q. Recently, the main net stability issue of blockchain continues. I wonder how Mammoth is dealing with this. Can You Please Describe about it?
A. Although network security problems are extremely rare, vulnerability improvements such as attack tests have been completed in case you don’t know, and we are monitoring to prevent security problems that may occur in Dapps other than the network.
Also, in the case of Validator, it can be said to be decentralized because it is not owned by the foundation, and if the Validator causes problems in block verification, it is designed to be sent to prison and lose the Validator function. Security can be seen as improved.
Q. Do you have any staking programs or any other incentives for community members of the project?
A. There is currently no staking for pure community active users, but we are providing a service that allows holders to maximize their profits. We provide a staking service for GMMT owners to https://staking.gmmtchain.io/ Please visit this link.
We are also planning an airdrop event for community members.
Q. Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
A. Yes, token holders can participate in governance. And users are free to propose the agenda itself.
For example, electing validators, setting commission prices, etc.
The agenda is not limited to anything.
Q. As far as I know, Mammoth Chain chose a modular blockchain method to solve the trilemma of the blockchain. Please explain the modular method.
A. Modular blockchain is a method of processing each function of a blockchain in parallel in different chains. The process of verifying transactions executed while ensuring transparency and immutability of data, information about the transaction must be distributed on the network so that other nodes can always see it, which is called data availability. The above execution, agreement, setting, and data availability can be viewed as four main functions of the blockchain. A typical blockchain handles all four of the above functions in one chain, and this method is called monolithic blockchain.
Modular blockchain, on the other hand, can handle some or all of the functions of execution, agreement, settlement, and data availability in different chains, making processing faster and more efficient than ever before.
In summary, if the monolithic blockchain approach was to derive a balance of scalability that can be reached under the constraints of the chain itself, the modular blockchain approach is to overcome the trilemma of a single chain by sharing each function of the blockchain to different chains.
Q. What are the strengths of the Mammoth chain?
A. The purpose of the newly launched Giant Mammoth Chain upgrade is to extend and reuse existing modules and easily modify existing contracts with a better architecture and the architecture of smart contracts designed with security in mind. It provides more flexibility and decentralization with an infrastructure that allows developers and node operators to build and run custom blockchains for large users with internal value systems.
Q. Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
A. Our Mammoth team is partnering with representative companies and institutions in each country, and forming partnerships to activate Dao in those countries.
In addition, we are implementing a strategy to further expand the ecosystem by applying blockchain technology to non-blockchain industries. For example, it is not limited to any industry, such as broadcasting stations, telecommunications companies, and food companies.
Speaking of recent activity, Thailand has partnered with a state-owned company called MCOT and besides that, it has also partnered with webtoon and NFT writers.
By securing both individuals and businesses, we will drive users into the blockchain industry to gain more users. We plan to discover and nurture non-blockchain industries in the future.
For your information, we have been developing blockchain since 2015 and we are the second team to start in Korea.
He has a lot of experience and has developed it around the world as a mining platform and a blockchain-based platform.
They’re now announcing it. Please look forward to it.
Thank you all for your interest so much.
We hope to continue to communicate on the official Telegram channel.
Have a good evening everyone :)
Telegram: https://t.me/g_mammoth
