Crypto_Rays conducted an AMA with CEO, Mr.Michaelholdmann CTO, Mr.DavidBeberman CMO, Mr.Jay Moore from PRASAGA on Crypto_Rays Telegram channel at 29.11.2020, 2 PM UTC. The AMA is hosted by Ms.Mahathi Founder of Crypto_Rays This AMA lasted for almost 1 hour and the following are the interview and Questions
Time: 02:00pm UTC, 29/12/2020
Guest :
Mr.Michaelholdmann,
Mr.DavidBeberman,
Mr.Jay Moore
Moderator: Ms.Mahathi, Founder of Crypto_Rays
Introduction
Mahathi: Welcome Mr.Michaelholdmann, Mr.DavidBeberman, Mr.Jay Moore hearty welcome sir
Jay Moore: We're all here, Great to be with the Crypto Rays Community
Mahathi: Could you please give a introduction about yourself and about your Crypto Journey
Michaelholdmann :
I am Founder & CEO of Prasaga. I have been involved in technology sector in Telecom, Network, Internet, Software for 5 decades my focus as strategist, biz dev, evangelist, and visionary.
Prasaga is my 4th start up. I started a mission to create a ubiquitous, decentralized, open, equitable, technical foundation that would allow all to everywhere participate on a global playing field. My first endeavor to solve this was an Application Service Provider (ASP) in mid/late 90’s, what we call cloud today.
For the last decade I have been collaborating for international open standards for the Internet of Things to ensure the ability for anything to talk to anything or anyone regardless of data model, protocol, platform or provider. What I discovered was the need to Decentralize the industry to ensure the citizen was in power, not large walled gardens run by the FAANG. This is what Prasaga will deliver to the world. The foundation for all transactions, financial or other.
DavidBeberman :
Hi, I'm the CTO of Prasaga, the designer of the DataGrid Blockchain consensus algorithms, author of 2 related published pending patents, and several pending patents currently being perfected. Prior to Prasaga, major accomplishments include the implementation of multiple Internet protocol stack modules, and author of a congestion resolution algorithm for wireless communications. 35 years of software architecture and engineering experience.
Jay Moore :
I’m a massively parallel entrepreneur, Prasaga marks my 12th new venture, I have enjoyed creating everything from an ISP and a design firm to a franchise restaurant chain and game streaming middleware. My largest success at GarageGames where we changed game development, coined the term “Indie Games” and built a community of 250,000 indie game developers in the early 2000’s. This is by far the most exciting venture I have ever had the privilege of being a part of to help make a better future for all of us as I see blockchain as the key to so many innovations and improvements to our global quality of life.
We have been working on this project for 3 years and now we are very excited to tell the Crypto Ray about Prasaga and the DataGrid Blockchain. Someday I predict you will tell others you heard about Prasaga before they had even launched on DeFi pools.
Mahathi:
Could you please Elaborate about Prasaga we eager to know about Prasaga
Michaelholdmann :
Prasaga a New Native Chain and a New Coin Project. We’ve designed the next evolution of blockchain architecture. A blockchain that actually achieves the promise that all blockchains have aspired to. One that provides the highest level of resistance against attacks. One that rewards its ecosystem of contributors. And, one that, perhaps most importantly, scales in throughput as more resources are added to the network, providing the maximum possible increases in speed.
The DataGrid Blockchain catalyzed by our eXtensible Blockchain Object Model (XBOM) an Object Oriented Blockchain™? (OOB™?) builds a LEDGER that puts the coding, execution and settlement of all asset transactions directly onto the blockchain — delivering an evolved approach to Smart Contracts that provides increased speed of development, higher quality, and a future proofed development infrastructure.
The Product suite of Prasaga creates an underlying global foundation for all transactions financial and other while protecting individual sovereignty and ownership/access of all assets and state
Mahathi : A New Project is born to rectify the flaws in earlier projects or to enhance the previous ecosystem. What kind of problem is Prasaga solving
Jay Moore :
Scale, security and stability of the currency. We go into great detail in our papers. Right now its would so help with gas fees.
Mahathi:
Mr,Michael HoldMann IoT and Smart Cities leader and Chinese govt smart cities agenda's contributing author more than 22+ years Experience as Executive, Mr.Jay Moore 20+ years of Experience in Gaming Industry, Mr.David Beberman who developed 50+ Network Protocols and father of NAT, The prasaga Team is comprised of 23+ members all are well experienced how the Team formed to develop PRASAGA
Michaelholdmann :
Hello, thank you. I scoured far and wide for years to find the team members that would give this project the best possible chance for success. Being in industry for 5 decades, has allowed me to do that.
Mahathi : Twitter Questions now
1st one From @LadyApple27
The group aims to spread awareness about the functionality & technologies behind the project. But I see that there R so many people in Crypto who just want to invest to earn extra profit, not innovations & functionality. You guys think you've got the potential to change this?
Jay Moore:
We believe that when the DGB reaches mainnet providing a global blockchain capable of a high throughput of transactions; multiple types of decentralized applications; and virtually unlimited extensibility we will see many new innovations both within financial technology, and in general business applications.
We further believe that two fundamental issues have been holding back more broader growth of blockchain and cryptocurrency adoption: a monetary policy that is oriented towards creating a stabilized, independent currency, and coupled with a blockchain with dynamically scalable capacity to support it. Without these two fundamentals, then a significant amount of activity will remain focused on speculation. When both of these fundamentals are addressed, we believe a massive wave of broader adoption will result.
Mahathi:
2nd one From @Jayaram0811
What sort of userbase your are looking for in your project? Many crypto projects are just used for mere exchanges in exchange websites without use case and even if they do, they drop mid way. How will yours be different?
Jay Moore:
We think about exchanges (CEXs) differently our goal is primarily to get visibility with the largest group of token holders possible. We know that with DeFi the need to be discovered on exchanges and traded on CEXs is diminishing. We do have advantages for why exchanges and other marketplaces would build on the DataGrid Blockchain.
We've always believed that the DataGrid Blockchain will be great for multi-sided marketplaces, like for data exchange. We think of them as decentralized, but function like Amazon and Ebay meets Nasdaq.
DeFi exchanges would benefit both from our stable gas price as well as the ease of development on our blockchain.
Mahathi:
3rd Question from @CharlieElixir
Reagarding Monetary Policy Model in Prasaga Instead of burning. The Project used the term Bonus what is that bonus incentive who are eligible to get the bonus. What is the source for bonus incentive
Jay Moore:
The bonus is part of the feedback mechanism between the treasury and the decentralized global reserve bank concept. This is a separate mechanism from the mining/validator rewards (i.e. minting new coins). The bonus is paid out to mining/validator nodes during various activities, for example when a node joins a new parallel chain. To reduce currency in circulation, the bonus can be reduced to zero, and the associated currency burned instead of paid as a bonus, governed algorithmically. This provides an incremental, controlled means of managing the currency in circulation, without necessarily changing the minting rewards for block production.
The DGB monetary policy, in general, is focused on managing the currency in circulation to reduce price shocks with economic activity creating a more stabilized currency suitable for exchange of value.
Mahathi:
4th From @MahaK09579002
Will you Explain about Automotive Supply chain visibility of Prasaga. In Blockchain already some projects crypto projects doing supply chain mechanism. how prasaga Differ from their competitors
Jay Moore:
Thank you for the question. We feel that supply chain across all industries will benefit from our approach to how assets are created, allocated, tracked and transferred.
In current approach, each individual supply item from raw material to finished OEM parts on a Blockchain is a smart contract and you need another smart contract to manage the exchange between the parties. With the Prasaga tech stack, it allows suppliers to write class code (.i.e. Fuel Injector, sheet metal, window, etc.) once and make it available for all customers to use and reuse whenever they need to re-supply with that part in their account.
The ability to now create car specific "containment trees" will allow a car manufacturer to transfer the entire tree of objects that make the car, including reference to all certificate of safety required and track the entire life of ownership and history. That is the biggest advantage in the autonomous auditing of all parts and their required certificates to ensure safety and authenticity of the product to end users.
Mahathi:
5th one From @PoponchiSam
Hello, I'm from Philippines. Did you know that there's so many potential investor came from Philippines. Do you have plan to create Philippine Community group and also to expand the market on Philippine exchanges?
Jay Moore:
Through our DataGrid Collaborative we are engaging with key partners in every region, not just for token promotion, but authentic community development with token holders, miners and especially developers on our blockchain.
The Philippines has always had a special place for me as I’ve worked with development teams and even personal assistants who have been both innovative and proactive in helping projects meet their full potential.
We are looking for a community members that want to assist us in building our presence in all regions. The local exchanges will come as we roll out our full DeFi pool strategies, we see the pivotal role that exchanges have played in the past evolving and will engage as the community benefits.
Live Session Questions
@Rahul703g
Q1. What does motivated you too name the project Prasaga , what does this means , could please describe some ?
Q2. What the future Aim of your team ? Any special products or features that could make investors trust the project ?
Michaelholdmann :
PrasagGa is Sanskrit. “All that connected with or results from everything”, we started as an IoT/Smart city platform company which after researching a blockchain to use for our other tech, realized we had to build our own ground up.
@HeRmAwAnTrAdEr
What are the uniqueness of Prasaga offers other competitors of yours do not? give me 3 reasons why i should choose Prasaga ?
Jay Moore:
We have built our blockchain from the bottom up for the highest level of scale and security. With XBOM we have moved beyond smart contracts to allow you to have all assets directly in your own account and code running on the blockchain.
Our 3 Advantages:
1) Scaling to the full bandwidth potential of the internet.
2) Easier to code and maintain with Smart Objects.
3) Stable currency that will not have spiking gas fees.
@LadySaphire
What are the great achievements that PRASAGA has achieved so far and difficulties and risks did you encounter during project implementation
what factors helped motivate you to overcome difficulties?
Michaelholdmann :
Started Nov. 2017
* Integrate blockchain into IoT message bus
* Commercial WP release March 2018
* Token pre-sale- 850k through May 2018
* Token purchasers asked us to solve blockchain scale
* Research, design finished in Jan. 2019- 200+ of pages, 100,000 word notes documents of all major chains and projects scaling, consensus, economics (monetary supply, tokenomics)
* Wrote design of tech, submitted 4 patent pends
Looked at Smart Contacts
* April 2019 realized it was not possible to scale through sharding with current Smart Contact approach (everyone realizes this now, but too late)
* 2 patent pend. XBOM™? and XSOA™?
* Design an First Class Object Model, Decentralized GlobalOS and Object Oriented Blockchain™? (OOB™?)
* State resides with account objects, we can move accounts and all individual account state from parallel chain to parallel chain.
First thing we architected a scalable blockchain based on parallel chains producing blocks independently while sharing the PoW hashpower amongst a plethora of shards creating long term attack resistance.
Secondly, we realized the issue ALL current blockchains are running into which is the incredible difficulty to move state, which resides in the smart contract, from shard to shard. That is solved with XBOM™? technology which references all state of accounts in the class object instances (assets) on the blockchain allowing movement of the accounts (state) from shard to shard.
We have integrated XBOM™? into Hyperledger Fabric specifically to prove out XBOM™? (scale would not work if state can not be moved) prior to building the DataGrid Blockchain (DGB)™?. It is now a proven architecture, we will offer a SaaS enterprise license for the Hyperledger community while we build out the DataGrid Blockchain (DGB)™?, XBOM™?, IoT/Smart City message bus and launch DataGrid Token ($DGT)™?.
@Poponchi
Smart contracts are vulnerable to bugs, and even recently three big new DeFi projectss were victims of this, costing users funds. How efficient and secured is your smart contract when it comes to privacy, did you ever audit it on external party?
DavidBeberman :
The XBOM is a new approach to coding dApps. It uses an on-chain class inheritance model with a first-class object model — this is also known as late dynamic binding. By itself it does not directly reduce vulnerability to bugs. However, the code in the classes is inherited on the blockchain, subclasses use the exact same code, not a copy of it.
Thus the opportunity for creating accidental new vulnerabilities is greatly reduced as the code is used continually by subclasses and associated object instances. This is loosely analogous to blocks higher in the blockchain being more secure (although very loosely). Although we are creating some foundation classes to enable the concepts of accounts, monetary policy, Defi classes and a few others, we are building out the platform as opposed to specific classes for dApps.
We expect that the community over time will develop approaches to auditing, validating, and signing classes. Further the XBOM will support parameters to specify what a class allows for inheritance from it — i.e. finalized classes, and individual methods that are not overridable and similar, which are features one would expect from an object oriented inheritance model.
@Ankur205
Q1. What role PRASAGA is playing on IOT ?
Q2. What are the highlighted features or steps make the project Prasaga trust worthy to investors ?
Michaelholdmann :
This is our 3rd year, our initial pre-sale of 850k in spring 2018 was for Research and design of the scalable permissionless blockchain. We have now applied for 6 patents, more coming. If rug pull was our intent, it would have happened long ago.
Final Question by Mahathi:
Heard There will be 3 Stages of Presale by Prasaga could you share about that and how to get involved in presale what are the requirements to participate
Jay Moore:
Yes, The Stage 1 Private Presale is 20% Bonus ($100k min), Stage 2 Private Presale 10% Bonus ($100k) and Community Presale 5% ($5k min)
We will be announcing a whitelist on our website and Discord for the Community Presale
Mahathi : And thank you for spending your valuable time with Crypto_Rays
LadySaphire : And @Crypto_Rays Thanks for great and well presented AMA
Know more about Prasaga Here: https://www.prasaga.com/ Reach us
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