Recap of Exclusive AMA: Jelurida x StealthEX
StealthEX: Our guest today, Francisco, Senior Sales Engineer of Jelurida. Thank you for joining us today! We are excited for this session. There were a lot of good questions.
Questions from Twitter
Q1: I still confused after reading Jelurida’s whitepaper about $NXT, $ARDR, $IGNIS, and $JLDRA. What are the relationship between these tokens? Can you explain what main use and role of each token simply?
Francisco: $JLDRA was just used during the ICO for logistic reasons, so it has no use right now. $NXT was the original token launched in 2013, in 2018 we launched a new blockchain with more capabilities thar relies on two new tokens:
- $ARDOR takes care of the security of the network (through the PoS consensus).
- $IGNIS is the utility token used in decentralized applications through the smart contract template set.
$NXT blockchain is still alive and with active development, but most of new projects choose ARDOR blockchain for its unique smartcontracts capability.
Q2: Why was it necessary to develop IGNIS and what are the specific ones that you want to solve through this? Could we say that IGNIS was born as a complement to Ardor? Also, how different is IGNIS from NXT?
Francisco: With $IGNIS and $ARDOR we have splitted two functions that were integrated in $NXT, we did that to increase scalability and flexibility.
$IGNIS has inherited the smart contract ability, so it is the utility token used in decentraized applications running on the ARDOR blockchain and $ARDOR is used for the consensus mechanism only, so it serves just to keep the network secure using Proof of Stake.
Q3: Why is it said that Ardor is “The first Blockchain as a service model”? What are the usecases of Ardor that make it an outstanding project and how can it improve large corporations and the ecosystem? Thank you!
Francisco: ARDOR consensus algorithm allows any organization to launch their own private version of the $IGNIS token on a child chain, without deploying a network of nodes, this is why we call it “The first Blockchain as a service model”. You can think of a “child chain” as a virtual blockchain than runs on top of the nodes of the Ardor blockchain. You will have your own tokens and rules on your “child chain” without the need to deploy any infrastructure in the cloud. And you can do that If your use case cannot be fullfilled using the public IGNIS blockchain. Of course this has associated some costs because a license is needed to do that.
One example of that would be a Security Token blockchain, where for regulatory reasons you need to make blockchain account holders to pass a “Know Your Customer” (KYC) procedure.
You could launch a “child chain” on top of Ardor that enforces KYC, this is very powerful because you are enjoying characteristics typical of permissioned blockchains but running on top of a decentralized and permissioned blockchain. A typical application for that are real estate investment blockchains.
Q4: What real benefits can I get with HODLing and Staking the $IGNIS tokens?
Francisco: Any organization willing to fork the ARDOR code base to launch their own project, must airdrop 10% of the newly created tokens to $IGNIS hodlers, that means that by HODling $IGNIS you will be receiving all kind of tokens that use Ardor blockchain codebase.
Here we are looking as a different scenario than before, imagine that instead of launching your new blockchain as a “child chain”on top of ARDOR you prefer to bootstrap your own nodes and infratructure. Then you will need to deploy nodes in the cloud and install a clone of the ARDOR software.
This new clone blockchain will have its own consensus token, that we could call $ARDOR_CLONE, that will be used in the network for making the PoS consensus work.
As a HODler of $IGNIS I will reveice an airdrop of those new tokens $ARDOR_CLONE
This is because the Ardor blockchain software is under the JPL license (Jelurida Public License), which protects the investors of our tokens in front of derivative blockchains that fork our open source code.
Q5: Coinshuffle from Ignis, allow users to shuffle tokens into new accounts, without any connection to the source account. Many privacy features hide data and sometimes the paths can be unveiled. with Coinshuffle the data dissapears completely?
Francisco: Coinshuffle uses a method that makes linkability of a transaction to a user very unlikely using a method described here.
This method was originally developped to increase the privacy of Bitcoin and our developpers implemented it in $NXT and then in $IGNIS.
Although data never dissapears in a blockchain, the idea is to make very difficult to trace who sent the funds by mixing them with other users transactions.
Q6: “BlockChain for Business” That we can see on Jelurida website. Is Jelurida aimed only at companies? How can users like me contribute to the project? Does it any benefits for small investors?
Francisco: If you just want to invest in our tokens remember that you are eligible to delegate you staked $ARDOR tokens to any forging node and win block rewards by the PoS algorithm.
You could even setup your own forging node very easily with our web wallet.
You just need 1.000 $ARDOR (US$120) to start forging. Forging is open to everybody, there are no validator selection or the likes, we are truly decentralized. Furthermore, your funds are not frozen during forging and cannot be slashed.
If you prefer airdrops as a way of passive income, you should know that any project that forks the NXT or ARDOR code base to launch their own blockchain must airdrop 10% of the newly created tokens to the $NXT and $IGNIS Hodlers respectively.
So plenty of opportunities for small investors too!
Q7: What is the significant advantage of the new release version of Ardor which is the Ardor 2.3.2 over the old one? What is the best features offered of this new version?
Francisco: We are now on version 2.4.2 which included the feature of paying royalty fees to the original creator of an asset (like an NFT) for each transaction of that asset.
Now we are preparing the launch of version 3.0 which will come with lot’s of innovations, you may take a look at them here.
The most interesting one it’s the ability of pruning from the blockchain old transactions and storing it hash instead that will reduce the bloatr of the main database a lot.
Another one worth to mention is the snapshotting which allowa you to launch a full node based in the latest state of the blockchain without downloading the full historical database, this will be great for mobile wallets for example.
Q8: By maintaining the ARDR token, it will also allow customers to get a discount on their transaction fees. On what basis will these discounts be calculated? Is the discount made through the amount of ARDR the customer has? How many levels will the balance be updated?
Francisco: $ARDOR is the token used for consensus so it really has no impact on the transaction fees you pay on IGNIS or other “child chains”.
But as I mentioned before if you hodl it and delegate it to a forger, or setup your own forging node you contribute to the security of the blockchain and your are entitled to earn block reward.
The more $ARDR you hodl and delegate the bigger the probability of earning block fees.
We currently also have a special Node Reward Program for full node runners, you may see the details.
Q1: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??This looks like an amazing project!
Francisco: We have offices in Korea and Nigeria that serve the local communities there. Also we are very active in Japanish media. Our international team deals with speakers in spanish, russian, bulgarian, italian, hebrew and others.
Q2: PARTNERS are the most important that strengthen the ecosystems of all projects. Could you tell us about your project partners and the partnership strategy it has adopted?
Francisco: We are currently working with Accenture in an european project for the spanish post service Correos. That means that our technlogy is beng implemented by one of the biggest consultancy firms in a real use case for a public administration. That demonstrates that our blockchain technlogy is not just an especulative game, but it will have an impact and a durable use in our society.
Q3: What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
Francisco: We believe that gaming is a big opportunity in web3, for that reason we are developping since two years an online version of the card game Contract Bridge you can start playing with the beta here Bridge Champ. That platform will serve as the base for our future development of web3 versions of casual games.
Q4: Hello. Revenue is an important aspect for all projects to survive and maintain the project/company. How have you been able to build a complete project and what is the way to generate profit/revenue of the token? What is the income model?
Francisco: Very interesting question, unlike other blockchain projects we do not rely on selling our own tokens to pay our bills, we do sell software licenses of our “blockchain as a service” child chains and other specific API developments like for the Senator project. We expect also to get a recurring money flow from subscriptions to our game platform Bridge Champ.
Q5: Since NFT is popular nowadays, is there a plan for NFT integration?
Francisco: Our blockchain has already integrated in its core all the necessary smart contracts and tools to launch a complete NFT marketplace without having to develop any backend, you can see examples of very succesful dApps using our API’s here NFTmagic and here Mythical Beings.
Q6: Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term?
Francisco: Our main focus is to launch real world use cases that bring transaction to the network, we believe this is the right long term startegy and ensures our tokens will have value with independence of the different hype waves.
StealthEX: Thank you everyone for being here, and we hope that you enjoyed the AMA!
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