[Recap] AMA with DOM Chain Global Ambassador Jonah Schulman (September 17, 2021)
Q: Can you help me quickly summarize DOM Chain?
A: DOM Chain is an advanced public chain that provides the underlying architecture for the development of parallel chains. On the advanced network of DOM Chain, multiple parallel cloud public chains can be deployed at the same time. Each chain can develop an independent DAPP, which can support rich ecological applications in a variety of industries.
Q: What is para chain development?
A: Parachains are native blockchains that rely on the main chain to provide security and communicate with other relay chains. These chains share the Secure Proof of Stake (SPoS) consensus of the DOM public chain, so as to realize the low-cost deployment of a highly credible cloud public chain system.
Q: I saw this project named DPLATFORM, DOM, DOM Chain, and Dplatform5. Are all of these interchangeable or do they have different meanings? What is the preferred name?
A: DPLATFORM is the name of the entire ecology, and DOM is the only public chain token of DOM Chain. File version developed at Dplatform5
Q: What are DOM Chain’s vision and mission?
A: We want to disrupt the blockchain industry. There are many great blockchain platforms out there, but many of them are missing key attributes for long-term sustainability. If blockchain technology is adopted by the mainstream, we need a platform that can handle the world — not a few hundred, a few thousand — or even a few million — we need one that can systematically handle the globe. We believe our multi-layer blockchain architecture is the stepping stone for a better tomorrow for every single industry.
Q: Do you envision DOM Chain penetrating into every industry?
A: Yes, this is the goal. The architecture of the blockchain is suitable for any type of DAPP and has the ability to expand. In theory, we can penetrate the world and the future can be expected.
Q: How does Bitcoin adoption affect DOM Chain?
A: If Bitcoin adoption grows, the whole cryptocurrency industry grows. Although we have different value propositions, we are still in the same realm.
Q: What is the Value Transfer Protocol?
A: The value transfer protocol is a network transfer protocol and consensus algorithm used in the transfer and transmission of value on the blockchain network
Q: What can you build with DOM Chain?
A: It has a wide range of applications, including but not limited to:
data deposit certificates
Q: What is the SPoS consensus mechanism?
A: A mortgage protocol in which users can buy tickets “DOM” to increase their chances of mining blocks, but also randomly select nodes to prevent bad actors.
Q: What stage of development are you in currently?
A: Mainnet is online!