Let's start with the positive news first. We established a timeline for the next major update of the OneLedger Mainnet, Kratos. Click here to read the details.
The OneLedger team held an AMA on June 11, 2020. This AMA was hosted by David Cao (Founder) and Aly Kassam (Director of Product). It was a very busy AMA, and the community surely did keep the team on it's toes. We had lots of exciting conversations back and forth.
We would like to thank everyone who participated in this AMA. There is lots more to come from us as we head into the adoption phase of our products.
Lets give you a brief recap of the AMA:
Q) You are releasing a lot of features like the OL pay, DNS on OneWallet etc but the major issue is marketing. If you don't market your products, nobody will know about it hence why the price is tanking. What exactly are the team's marketing plans going forward?
Aly: For marketing, since the COVID has hit us, we have had to make amendments to our plans. We are starting to approach universities and other avenues to bring in more developers. We want to build our product with a strong focus on our community after the Kratos launch. We are also concentrating on Marketing significantly more this year. We're currently speaking with marketing consultants and agencies that will help significantly with our marketing strategy. In the meantime, we are doing a few twitter contests to create Wallet Adoption, and adoption of features like domain management and transferring ETH to our network.
Q) Hi, how much runway do you have?
David: The current runway is good enough to launch the product and support for a couple of years.
Q) Are you planning to hire more developers? Also are you planning to open offices in different countries?
Aly: Our focus for the latter part of 2020 is on Marketing and BusDev, we are not increasing the number of developers at the moment. Yes, when the opportunity arises we definitely will open in different countries, we are primarily looking in the Asian Markets. In fact, we are engaging with BusDev in Asia and Africa.
Q) Will there be an android app release? Many people want to store their investments safe on a smartphone.
Aly: We are currently focusing on Kratos Launch and creating applications on top of the OneLedger Network. Our Chrome Extension is built in Electron, which allows us to be multi-platform, and we will be moving to more of a REACT framework, once we do that we will be set up for Mobile applications. So at the moment, the Mobile Wallet would be a 2021 initiative.
Q) There are so many projects in the market with interoperability, scalable and so on. How is OLT able to outperform the other?
Aly: We're not built on top of an Ethereum fork and our platform is built for speed and scale. We produced 4000+ TPS in our Load Testing, which is 100 to 200x that of Ethereum. Also our Interoperability is at the Protocol Level, which is the lowest level you can have interop at. This allows us to build services that use Interoperability and allows Developers to leverage those services without worrying about how our interoperability works.
Q) What are the special features of OneLedger blockchain? and does it better than the traditional business protocols? How can you assure security to those businesses?
Aly: OneLedger blockchain is primarily a DPoS blockchain. Our TPS is way above other chains. We provide a complete customizable transaction layer, which gives you more control over traditional smart contracts. Above all, we are focussing a lot on usability and innovation. If you see, we already have a Domain Naming Service in our wallet, and we have a lot of plans to make it more business-centered. From the security perspective, our wallet is completely decentralized. We don't store any keys or accounts on blockchain and everything is totally localized to your devices.
Q) I know you guys are partnered with Adastra. How is your partnership going so far with Adastra?
Aly: With Adastra we are in several talks with implementations for government projects, but as you can imagine a lot of that slowed down during COVID. We are validating if there is a potential for voting and voter registration systems. We built our governance module with this architecture in mind.
Q) Customer service is an essential part of growing an ecosystem. In a survey conducted online, people said they would use a service if the support was super responsive, how do you rate your SUPPORT when handling issues of users?
Aly: We strongly believe that keeping our customers happy is the most important aspect in order to succeed as a company. Our CM’s are present in our TG group 24x7 to ensure that our current customers are treated well. In the future, once we have enterprise projects running, we will set up a worldwide customer service team to be available 24x7 and keep our clients happy.
Q) First, I want to thank the team and congratulate all for the project and the efforts made until here on this project. I believe a lot in this project.
For me, the best project in this space.
I did my own research about blockchain projects and I found $OLT this year (i’m new to this space, about 10 months). After doing my research, I have no doubt that $OLT is one of the best, if not the best, projects I have found in this space. So, I'm very glad to join this AMA.
My question is:
Which specific about technology and strategy of #OLT makes you believe it will be successful and what does #OLT plan to do to attract more users in the upcoming time?
David: We are so happy to have people like you researching and supporting us. You guys give a lot of new enthusiasm and fresh energy. From the technology side, we are keeping our eyes open to all the developments happening in the blockchain world. We are making all the efforts to make our chain the best in terms of scalability and usability. Every week, we sit and brainstorm all the new ideas that can increase adoption of OLT. After Kratos, the entire focus will be on developing Applications (We mean the real game changing applications) that can make us truly steps ahead and above other chains in the business.
Q) Where can you see OneLedger months from now?
Aly: Our vision has always been the gateway for businesses. The way we see that pan out in the public chain is by creating e-commerce opportunities for businesses on our chain and facilitating them through our interoperability. So consumers can bring different types of supported tokens on to our network and be able to utilize them through eCommerce and charitable donations. We find that 90% of digital currency in exchanges is not being traded and it's being held in hopes of a bull market. We want to provide other avenues for digital currency usage. On the B2B side, we will always be actively searching for new opportunities to implement blockchain systems, we are still approaching the supply chain use cases now in the Retail and Automotive sectors as they are taking a massive hit during COVID. Product transparency can be a huge differentiator for luxury brand retail, as we have seen LVMH invest in Blockchain tech as of late, and digital currencies also open up the market to the younger generation for these retailers.
Q) What unique features does OneLedeger have and others don't? And why should I invest in your project, how is the safety of your ledger?
Aly: We have Domain Management, we're fully interoperable, we are building the capability for OL Pay which starts with charities being able to receive donations through our payments infrastructure and moves into eCommerce. Our scale and speed are unparalleled and we will continue to build more apps on top of our network. We have completed security audits on our network and applications and our wallet is fully decentralized, see the attached video where I explain the wallet decentralization.
Q) How many OLT swapped from Ethereum to native OLT token and how many OLT wallets were created? Also when the team will add some features in explorer? I want to see this information in detail like Etherscan.
Aly: About 28% of the Total Token Supply. Etherscan has had about 4-5 years worth of development, we are adding features and functionality to the OneExplorer. But we are concentrating on things that are relevant to our network. We are always open to suggestions on what features are required. If you notice in our Kratos Launch plan, there is a OneExplorer update coming with some additional features.