LoserChain developer AMA record

AMA session

Moderator: AMA officially begins now.

Let me first introduce the background of our guest G, I see that many lowbs are interested about his background.

Mr. G is currently focusing on related scientific research in the contract execution system and consensus algorithm, including Hybrid Contract Runtime, Ink! Debugger, and Substrate CP Consensus Algo.

Today’s AMA agenda is as below:

1) @theseato first collected the 9 questions that lowbs were most concerned about before this AMA

2) G will answer those questions.

3) After that, G will impromptu talk about some topics in the group

AMA starts now

Q: Mr. G the first question, why did you come to the lowb community to develop Loserchain?

A: First of all, I paid attention to the Losercoin project in September last year. I think everyone has a moment of being a loser, and the partners in the losercoin community may be investors who have failed in the crypto market. Lowb is a still very active community. I think Loserchain can help losercoin to a new level, maybe it will be a fun thing to develop a public chain. Since my daily work is the development of blockchain system, so I think if losercoin has a public chain, then it’s a very fun thing

Personally, I very much hope that Chinese people can have their own GameFi stories, so LoserChain is positioned more as a metaverse infrastructure, not to issue new coins, but an infrastructure provided to the community. Anyone can participate in the construction of validator nodes, which is currently theidea.

Q: Tell me about the logic of the public chain and related economics

A: Regarding the public chain, the most common explanation is that it is a distributed ledger, and the most important thing is that distributed ledger technology needs to ensure its security; so on the consensus algorithm side, we have already had enough exploration and implementation. Now, the mainstream technologies are the PoW model of ETH/BTC or PoS technologies such as DOT/ATOM. The main goal of these two solutions is to ensure the stability and security of the entire blockchainsystem. For a chain, the economic means are needed to ensure security — mainly to increase the cost ofhackers doing evil things, and to make up for the loopholes in the consensus algorithm in the mathematical model. The public chain is actually a process of distribution of production materials, whether it is PoW computing power or the pledge of PoS. Those who participate in system maintenance are equivalent to providing production materials. Dapps will use these production materials to generate value, such as DeFi projects and GameFi projects. In order to ensure that the entire system operates in a reasonable state, some burning means are needed, where the most common one is Gas consumption. And there are some destruction mechanisms, so that the entire system can be stabilized both in terms of model and economy, thus providing a new computing model to implement some decentralized business model.

Q: I’m a blockchain novice, where should I start learning smart contracts? (A lowb question who wants to learn programming)

Answer: For level-0 novice, in fact, smart contract is also a process of describing calculation, and the most common calculation process is addition, subtraction, multiplication and division. The mapping to the contract is the flow of value, so the first thing to do is to learn how to think in a decentralized way. You can read more documents, write contracts, and deploy locally for testing and verification. Because contracts are very difficult to debug, one of my current work is to implement a smart contract Debugger to improve development efficiency. It is expected that there will be a simple version this year to support Step-by-Step debugging

Q: A relatively impatient lowb question: When will the public chain be announced?

A: It is well known that public chains are difficult to develop, so the development cycle will be relatively long, because we need to support the infrastructure of the metaverse to provide GameFi with different capabilities. For example, we can directly read some special on-chain identities of a user from the contract, then we need to do a lot of work. It is expected that we will be able to give a reasonable roadmap in the middle of the year 2022. Highly possibly, everyone will be able to attend the test network during the Chinese New Year in 2023. The launch of the main network may futher require rigorous testing.

Q: I hope to see a high-performance chain, a chain with low transaction fees, and a chain without Pixiu.

Answer: Yes, the design goal of loserchain is that the gas fee can be adjusted. When everyone thinks that the gas is relatively low, you can use the Token in your hand to vote to adjust the gas, in order to ensure the good operation of the economic system. In the first few months of the LoserChain launch, a relatively high gas fee may be adopted. LoserChain is not Pixiu, because there is no currency issuance, and the code is public, and we will receive features/advices from any developer, and we will strive to make all system parameters adjustable in design, and we’ll give the decision call to all Token holders. To reveal an Easter egg, LoserChain natively supports the NameService system to ensure that all losers have their own names in the metaverse.

Q: Can I hold 0.1% of the total amount as a node?

A: LoserChain adopts the NPoS mechanism. Anyone can set up a validator node. However, due to the limitation of the consensus mechanism, it can only support a few thousand nodes at most, and everyone who owns Token can participate in the pledge and jointly obtain the pledge income.

Q: This question is also the question that everyone is most concerned about. A few days ago, there was a very fierce discussion. Is lowb the gas currency in the loser chain?

A: The native Token of loserchain is Lowb. After going online, we will open the cross-chain bridge of all chains, and lowb will be 1:1 transferred to the chain.

Because the public chain does not issue coins, it is just an infrastructure. All assets are on bsc, oec and matic. You can attend the public chain environment through the cross-chain bridge.

Q: Will there be a one-click coin issuance function in the loser chain? After all, lowbs don’t know anything, but we also want to experience the pleasure of being able to issue new coins

A: This will not be supported, but I will lead the team to make some fun games and directly use the native Token as the in-game token, and we will not issue new tokens. I also hope that everyone can work together to build the Dapp ecosystem. There will be Grants and Hackathons on the public chain side to encourage community development and empower loserchain with more fun Dapps

Q: Is the gas of the loser chain designed with 1lowb=1usdt?

A: The gas settlement unit is lowb, which is the native asset, and BSC is settled in BNB, but the price of lowb is not easy to predict, so we’ll leave it to the market.

The Congress of loserchain is mainly used to drive the ecology on the chain, most of which may beused for airdrops and burnings to stabilize the entire system (that is, not to give anybody the opportunity to smash the market)

Free Q&A


1- Is the future design deflationary? What is the limit of deflation?

2- Have you considered additional issuance of lowb, but use the price curve to control the number of additional issuances to achieve price stability with reference to the price curve mechanism of ghst

A: This is under consideration. A mathematics PhD of my team is modeling the economic system for loserchain. At present, the critical value of the scale of deflation is uncertain, but it must be a deflationsystem.

Reply to the questioner: In one sentence, all the attendees will become rich, will there be super players in this model?

Reply: Yes, we will try our best to avoid the appearance of super players in the design.

Q: Mr. G, what is the price do you think lowb will be in the future?

A: At least higher than now

Developer: I think it is normal for a public chain to increase the value of lowb a little, otherwise the economic activities will not be normal

So let’s all work together to avoid being left behind.

Q: It is strongly recommended to use pow

A: This is also a direction I am researching, fully releasing the capabilities of the graphics card. For example, we can use the graphics card calculator to achieve some AI calculations and decentralized video rendering.

Q: Will the public chain be deployed on akash and ipfs? Will it abandon centralized storage and cloud services?

A: I am very optimistic about akash, maybe we will deploy the node. It is currently in the research stage

Q: I had an idea in the past that the gas fee can be set up by the project devs. As long as there is a loser in the pool, his tokens can be used as gas, which can achieve zero gas fee for ordinary people. At the same time, the connection also receives gas fees.

Another community member replied : This is what the loom network did in the past, but it doesn’t seem to be doing it later.

Developer A: The reason is that we have no way to use an algorithm to determine whether another algorithm can terminate normally and fall into an infinite loop, that is, the shutdown problem. Currently, there is no mathematical solution to it, so no gas fee will be ridiculous.

Q: Can the new chain completely eliminate clips and Pixiu in technology?

A: This is currently a difficult academic problem; it will take time, and the existing technology may not be able to achieve it

However, for Pixiu and clips, we can design some mechanisms so that everyone can directly ban the address by referendum, and the assets on the address will be taken into the treasury, and airdrops will be issued after the spot.

Q: If the technical team personnel and funding are limited, will new chain developers be recruited in large numbers? To speed up the progress, after all, time is precious in the currency circle

A: At present, my team takes no compensation and there is no bounty work, so I also hope that everyone can participate in the development together, or participate in discussions

Q: Is loserking and game still useful in the future?

A: Game assets can be transferred across chains

Q: Will new project devs pay a certain/appropriate deposit when they issue new coins?

Answer: You can start a post to discuss this later. The public chain is of service nature, not of stopping Ponzi scheme. If everyone thinks it should be done, we will support it.

Community members: As a public chain, the more open the better, just like the earth, anyone can have a place to live on the earth,

A: That’s what I meant before.

Q: How to make the speed on the chain faster; how can it be more powerful than bnb?

A: This is a system question; will answer later in details.

Another community member answered: this is what differentiates it from other chains

A: Yes, it can be derived that the TPS of loserchain is conservatively estimated to be more than 1000, which is 10 times that of BSC.

Community members: More than 1,000 is not enough since the mtv sharding technology has reached hundreds of thousands.

Developer: hhh i know

Community members: mtv sharding technology for public chain has good scalability

Developer: If I am going to use a centralized algorithm, I can reach 100W TPS. But we’ll use decentralized algorithm (so no mtv sharding).

Developer: At present, there may be several feature implementations that polkadot may not have

Community members: You can make a first version for everyone to play and then upgrade to a second version to add the rest of the features you want to achieve

A: This testnet can be deployed now, but it’s just a bare network, it doesn’t make much sense

Community members: It’s good to have a chain that can only use lowb to play around

A: It’s useless, and it’s more painful when to deliver some of the new functions.

Community members: listen to Mr. Qiao, but it is best to create an internal entertainment trial version without affecting the subsequent functions

A: Later, I will investigate akash to see how to deploy it, so that everyone can deploy nodes

Q: The mainnet will be launched at the end of this year, right?

Answer: It is better to be conservative, after all, it is more embarrassing to lose the assets.

Community member: It’s okay, Mr. G will try it a few times by himself

Developer: The test network is open, and it will be released to the main network only if there is no problem with the functions.

Q: When is the testnet?

A: As soon as the end of the year 2022, there are some things to clear out.



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