Thanks a lot for actively participating in the TurtleNetwork AMA held on 18th January 2020 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with TurtleNetwork
We have with us Nathan
My name is Nathan, and I go by the wolfofwaves, these days I am Grandpa Wolf, I have been in cryptocurrency space for 5 years now and have been in IT and cybersecurity 5 years prior to that with experience as a Systems Administrator.
I have been doing project management for communities for the last 3 years, and have been around helping out with TurtleNetwork for the last year and a half or so.
I am extremely driven to usher innovation and adoption to the platforms and ecosystems I represent and am working hand in hand with.
Q1. What was the reason for the rebranding to TurtleNetwork? What is the meaning of the turtle symbology for you?
Great question let me begin with the original name and origin of that.
TurtleNetwork began as TurtleNode.
TurtleNode was and is still one of the largest staking nodes users can lease to on the waves network (we have a proxy token there for trade)
The move to Network was to make people understand we are not isolatory, we are quite literally a network, which sits on top of an amazing, light speed, scalable settlement network, maintained by the users who back and support it.
So it was mostly to symbolize our openness to integrate and bridge all the communities we can together, because on our own we are nothing, but together we are a movement.
Q2. TurtleNetwork has its Mainnet & even launched Decentralized Exchange! But Could you explain the main Utilities of TN Coins? Why any investor or I should invest in Turtle Network as long term prospective?
So this answer can be very long or very short, the short answer is that TurtleNetwork coin is the same structure as ETH or EOS or any of the larger platforms with smart contracts, TurtleNetwork is what is used to pay for fees.
Let me provide a longer answer now :)
The long answer is that TurtleNetwork is a very versatile fuel, it is used in composing send transactions, it is used in composing DEX trades. It is used to pay for services (smart contract executions) on the platform, which depends on the size of the contract.
The TurtleNetwork supply is on average 67-70% leased to staking nodes. Which allows users to receive node profits, without having to even run one.
We have an instant messenger coming in our new Java based wallet (expected late february) which uses public addresses in the same fashion as PGP, and it will have a simple companion app to send messages.
Outside of those users can be as creative as they want, they can publish video games and use the contracts and oracles to make a way to reward users with in game currencies or even create NFT Non fungible tokens to publish collectibles similar to CryptoKitties
At the end of the day, you would be choosing to invest into something that has everything the big platforms have tech wise, and just has not reached a large audience yet. You have a chance to be heard and help shape the platform through voting and consensus, the platform belongs to all of us.
Q3. As I read through your Twitter, I saw this, "BlackTurtleNode weekly lease payments" can you explain more about this and how I can get them
Sure, this relates back to our network reward mechanism
We are an LPoS chain which means we are what is called Leased Proof of Stake, allow me to explain.
In any normal network users who want to earn coins, must normally run a node, which can not only be complicated technically, but there may not be compatibility widely with user machines or any other amount of factors that lead to people not supporting the network and thats just bad!!!
LPOS allows any user to "lease" any amount they have to the main network generators, kind of like delegating in Cosmos. You pick a generator based on their benefits to leasors and they then generate blocks on your behalf with you balance "power" but do NOT control the funds, only you do, a lease just allows you to help secure the network and get paid without having to be an expert.
Q4. As TurtleNetwork utilizes Gateways for external tokens/coins to transfer to and from the network, So Can you tell us that which cryptocurrencies are currently supported by Turtle network for Gateways?
Sure I can give you the rundown happily :)
We have BTC LTC Waves DASH TrueUSD Wagerr Syscoin Doge BCH and Ethereum
Through the strategic partner with CryptoBrokers Ltc and ArcaneLabs, there is a gateway deployment service now, and users from all communities can reach out to their technical team and have us work together to get that coin or token listed for trade with us via a gateway!
To contact gateway services you can DM me or my partner @rig0rm0rtis
Q5. Can ViteTurtleNetwork smart contracts support running on a mobile device? Will they be similar to Qtum and support mainstream languages like C++ and Java?
The beauty of blockchain is that it is always running, it is about how you access it.
Since we are a highly scalable platform, we have focused also on Web3 which is what all the titans are doing like Tron and Eth, which allows us to have mobile apps that allow users to access blockchain apps without having to compute anything
For example, if you want to play one of our upcoming casino games, it will be mobile optimized, all you have to do is visit the URL and connect your web3 wallet and you can play the games all with the ease of access from your phone
All of our games using contracts are transparent and mathematically fair and provably fair
Q6. How TN DEX will get the liquidity where most of the DEX is thriving or dying due to low liquidity? Why somebody will use TN DEX and what makes it special?
Id like to start by addressing an elephant in the room if I may 😊
One of the biggest things people are confused by right now is the low volumes everywhere, what is up with that? Well to put it simply it is a product of our environment. People tend to buy when it is manic and exciting right? And most people did, and the market is down currently 50% from ath, and its still kinda "rallying" so all the people who lost money definitely do not want to trade right now as a general rule of thumb.
Onto our plan, because we don't let our environment define who we are as people:
We have many partnerships in the background and many in the foreground, this is an attempt to bridge us to communitities and grow our following, which will allow us to offer attractive coins to users for trading, and because we have such low volume, for smart traders it creates amazing arbitrage opportunities and opportunity for market makers to get a fresh start.
The first partnership I can speak to is Piratechain, they have very good volumes building on their exchanges and have very much been looking for a place to trade peer to peer so we tried to solve this.
We also are working on running trading contests, promotions on gateway useage, and making sure that the users are being rewarded for their time and participation.
Lastly, we are releasing next month a new dex addition in beta to the new Java wallet I have had put into development, which will give us a huge facelift that traders will enjoy when they get behind the UI to make some trades.
I am also working on the BinanceChain full node to create a BEP2 gateway, so we can cross list the top binance dex tokens!!! That lets us also market to Binance users, and we would love to get listed there :D
Q7. How many type of Nodes are there in Turtle Network Project & What are the minimum hardware & cost required for running that Nodes of Turtle Network?
It can be ran on hardware like raspberry pi in terms of hw performance
Q8. Having AMA’s have been very efficient to bringing awareness towards new projects and also old projects, besides current ama, are you planning to run more AMA’s with the different communities that are in the crypto community?
As in an Investor Perspective, If i want to invest somewhere, I’d also be careful not to lose that investment, TurtleNetwork has been promising in terms of Tech but in token price, not so much, are you planning to take measures about it?
Anything related to price I am gonna pass on because price is a reflection of usage and adoption, and adoption is what I am shooting for :)
Q9. Many investors only care about token price and their profit in short term while only small part of them cares about long term and project health as well as tech. So, does $turtle team have a solution to balance this?
Yes we are 100% focused on tech and always have been, I only fund tech ventures
Real quick I did want to make the distinction we are not TRTL (TurtleCoin) we are TurtleNetwork (TN)
Q10. When looking back at your time working for TURTLE NETWORK, what are you most proud of?
I think for me what I am most proud of is helping get everyone organized as much as I did for it being 100% decentralized, we have contributors and employees in all timezones coordinating
Q11. As we know, implementation of so many feature's may cause many bugs how you'll fix bugs how many developers currently working on turtlenetwork ecosystem?
All of our features have been proofed and tested by the codebase from which we adopted ourselves out of :) additionally we always run things on testnet first and a majority of those developments I mentioned are innovations, they are business things and not blockchain programs per se, the instant messenger is an app, its built on TN yes but doesnt need to change the network operation at all to work
Q12. You are focusing on financial privacy, what roles do you play in DeFi and why should we use ARRR amidst a host of privacy coins out there your halving is scheduled for February, what improvement will this bring to the ARRR ecosystem
ARRR is our Partner :) thats a question suited for them!
Q13. What has the journey been like till date and what lessons have you learnt and what future developments do you have planned for?
The journey, just like my time in bitcoin has been an absolute roller coaster, but only in the best ways, each time we hit resistance, especially in the code sense, we do our absolute best to find a creative and correct solution
Q14. Only a small portion of people are using dapps due to the hassle and other reasons. How would you address these concerns and persuade other users to use DAPP?
Well my company CryptoBrokers is focused only on ease of use for users, we do not want people to be unhappy with their experience interacting with our tools
Q15. Whats the Future roadmap of TURTLE NETWORK for next 3-4 years? Which announcements and developments we can expect from TURTLE NETWORK ?
3-4 years is so far out... and as we gain scale we will have many new projects living on our platform, so it may transform through consensus into something totally new, I wouldn't be able to say, but at that point the goal would be 100% retail adoption
The roadmap for 1-2 years out looks like this, 2020 we are focused on refactoring our image, we are focused on making partnerships, gateways deployment, and building an ecosystem for developers to get rewarded for the contracts and apps they make.
Mid year there will be a Point of Sale system developed by my company, using TurtleNetwork as the backend, ARRR as a default payment method, and it will be adopted as a merchants solution down in the Cayman Islands.
Q16. As i see in website, you mentioned Waves in most of places ! Can you explain whats the relation between Turtle network & Waves?
We have a proxy token on there you can trade using our gateway, we also share a codebase, which means we have an insane library of contracts to utilize and port, as well as deep technical documentation that applies!
Q17. What is your long-term vision about the industry which TN is working at? Are you afraid someday there will be another Project with more innovative technology can replace TN?
My long term vision is in a-lot of avenues so this is tricky.
Personally I have an interest to launch a securities market, which I have a site for written in Web3, which is going to allow users and businesses to come to our securities exchange, and seamlessly submit KYC, on both sides, and get authorized to trade actual blockchain securities, which are enforced by an oracle, containing whitelisted addresses.
While TN will never be regulated, it is so flexible it can have securities on it as well and when configured, non KYC users cannot trade that asset and it is enforced at the blockchain level. No funny games here.
Q18. Can you share us Some Achievements done by Turtle Network projects in recent 2019 Year & What are the future plans & targets of Turtle Network for 2020 Year?
Sure we have this Q4 report I can show all of you
https://medium.com/@cryptobrokers/q4-turtlenetwork-update-938704137148
Q19.
A : The node creation is already quite easy with the guide provided by Turtle Networks. Is it going to be more user friendly in the future for people to create a node?
B : A lot of people see Turtle network are the underdog. How does it feel to go agains companies all around the globe? Some located in well known tech capitals and startup hubs?
Thank you so much for asking this Chad, this is a killer.
A: we will make everything much more streamlined once we have pushed some of our larger tasks out of the way, until then we have LPOS
B. I will say it feel absolutely amazing. Most people would say it is daunting, or any combination, but I say that it is a journey I want to be a part of, I am showing everyone innovation can happen with little to no funds, the reason we have communities is so we can all contribute, and I am doing just that, along with the lovely people who contribute with me. I am also very thankful for this unique opportunity, because I get to refactor the work of the big dogs in my own vision, and in tandem with the communities vision, really making it the people's chain
Q20. Many are of the opinion that in the nearest future most Alts will be eroded, only BTC and few Alts will survive this erosion. Does TurtleNetwork has what it takes to be among the few Alts that will survive?
This is another great question, I feel with the advent of regulation we will see regulatory enforcement agencies crack down on the trade of "dark" or non licensed or officially backed securities, this is why I have done everything I can to prepare in advance for this coming.
I have gotten CryptoBrokers Licensed in Estonia as a cryptocurrency exchange and custodial wallet handler, which means when they finally crack down and force people to not trade certain assets, we will be able to continue that trade facilitation, as users migrate to ArcaneLabs which will be the securities marketplace I had mentioned. But this is very far out stuff, always good to prepare, never wanna be caught with your pants down.
Q21. Can you tell us something about the adoption of TN? Like where you would love to see the usage of TN?
I would very much like to see TurtleNetwork in the top 30 at least, but I am trying to get us connected to as many communities as I can, exercising interoperability at a legacy level, which will be upgraded eventually to our trustless oracle gateway hub.
The adoption of the Point of Sale system will be an amazing feat for TurtleNetwork, PirateChain and my company CryptoBrokers
Q22. India is a very vibrant market and most exchanges are competing campaigns here to entice users and grow, with turtle, you see how India is and how what is the plan to develop here?
Well I see India, and I often look to countries which have technical deficits or places that make access to tools difficult, and I like to try and spearhead things targeted at fixing those deficits. With regards to India we often speak with a team who has helped us in the past and loosely helps out today on TurtleNetwork, they are based in India and want to work on making a mobile payments solution using TN as the backend, that will likely be built off of of forked from the Point of Sale to streamline workflow.
Okay guys, looks like that is time, if you guys enjoyed hearing from me you can reach me in our TurtleNetwork Discord or our Telegram channel:
https://discord.gg/UHKuHe2
https://t.me/TurtleNetwork
If you want to schedule an AMA with me I have a calendly:
