Deeper Network’s China Version AMA Session Recap

Deeper Network has successfully hosted the first AMA session with all the fans and supporters in China on September 12th. Deeper’s core team members, including the CEO — Russell Liu, CMO — Cheryl Liu, and CTO- Chao Ma, connected with over 400 audiences during this 1.5hour AMA session on Telegram.

Opening Questions

Russell Liu:We plan to increase the number of Deeper nodes to 1 million in three years and 100 million within five years. Based on these nodes, our Deeper Chain will constitute the largest blockchain infrastructure platform. Deeper is a pioneer in the direction of Web 3.0. Our network security technology, network sharing, and blockchain technology are able to provide a next-gen trusted Internet that is more secure, private, and fair for global users.

Q:Please briefly elaborate on the Deeper progress and plans as mentioned above. What changes or adjustments will be made to your IEO?

Cheryl Liu:The role of exchanges is to provide a circulating place for token. Since last year, the familiar top exchanges and second-tier exchanges have all reached out to the Deeper team. Because the terms of listing in each exchange are different, the situation of holding currency and the scheme of going online are also different, we have been working on creating the best solution. Deeper was hatched by an incubator (Republic) funded by Binance, so the launch on exchanges will be based on a unified decision made by Republic, early investment groups, and Deeper. DPR, as a non-security token, need to meet all attributes of non-security tokens. In accordance with the rules of top exchanges, it is not convenient to reveal too much about the above plans. Whether to launch on IEO also depends on the requirements of the exchange, top exchange will tend to let new projects use the form of IEO to attract interest.

Q:What are the Deeper public chain’s technology implementation, function, and vision?

Chao Ma:Usually, blockchains have the framework before the application. Deeper, on the other hand, first have the application and then the common chain, which allows mutual reinforcement and interaction. Deeper’s public chain has two layers; the first layer runs validation nodes (just like any other common chain); the second deeper layer is formed with Deeper devices,where credits are accumulated through sharing networks (the more networks you share, the faster you accumulate credit). When the credit score reaches a certain level, it can be voted into the consensus algorithm, and it can also share in the rewards generated by mining.

The first layer creates a closed-loop by rewarding people to share more of their broadband and network, thereby making the network more secure. Other public chains vote through offline communities or through online user mortgages. Offline voting requires a lot of coordination and is slower, while online voting has the drawback of an oligopoly (the greater the power of a minority to hold a lot of money). Because of the credit mechanism, Deeper naturally uses the credit record to vote, which will result in fairness and validity. When the mainnet comes online, we will develop a Dapp application, and we will also consider a credit rating system.

Q:Please describe the functional characteristics and development potential of Deeper hardware

Russell Liu:First impression of Deeper product is plug-and-play. In terms of its value, Deeper device is not a standalone device. Instead, it provides users with security, privacy, and intelligence by linking them to other nodes around the world.

Security Function: The device itself is an enterprise-level firewall. Network attacks obtained from the whole network will be unified into a feature database, which can be understood as a distributed firewall, solving the defects of a traditional firewall of independent, one-sided protection. The security community is formed by means of a network.

Privacy Protection:DPN is the next generation of VPN technology. When a network is formed between all the device nodes, the user’s Internet information can be hidden within the network, making it very difficult for others to find your IP address and Internet history. Since your IP address can be hidden under someone else’s IP address, you can browse sites that are previously inaccessible through the link between the two nodes. Of course, we also actively cater to the laws and regulations of each country with restrictions on websites, normal websites can be accelerated through the Deeper device.

Intelligence: Most of the time, users using VPN cannot find a suitable node to visit websites in other countries. The equipment you grow will identify the fastest node available to users. Deeper device will find the fastest node for the user.

Our equipment runs 24/7, which provides the conditions for building a blockchain infrastructure platform. It is not only a sharing and security device, but also a node for blockchain mining with many mining functions, including IDO function, bandwidth sharing, and PoC consensus mechanism, which can all be rewarded with DPR tokens. Deeper integrated technology in security, sharing, and PoC consensus to fulfill “fair mining for all”. The future decentralized society will need to be built upon a decentralized platform like Deeper, and this is also our corporate vision.

Q:Do you have any plan for when the Deeper minnet goes online?

Chao Ma:We are currently in the stage of developing the testnet, which should be finished by the end of the year. Next year, we will be testing the testnet and proceed to the development of the mainnet, which is expected to be completed in the middle of next year. Testnet will also carry out mining test which users can actively participate in, and once the mainnet is online, mining can be carried out. The tokens mined on testnet before can be converted into the tokens of the mainnet at a certain conversion rate

Technical/Product Questions

Russell Liu:Not based on Linux, Linux is not suitable as a network operating system. Our AtomOS is a network operating system developed from scratch. It is characterized by high reliability, high performance, and high scalability.

Q:How to ensure the security of network sharing, that the network is protected from malicious attacks? What has the team done to prevent other parties from using your network to do illegal things?

Russell Liu:Our device itself is a firewall that can block illegal applications. It mainly uses the filtering function of AtomOS for blocking.

Q:Why don’t you directly produce the 5th generation device now? Is there any difference in functions between the two?

Russell Liu:The 5th generation is a prototype, just a few months away from mass production. The fourth-generation has higher performance and can reach 1GBps. The 5th generation device is more cost-effective and targets low- and mid-end users.

Q:Can one family only use one device effectively?

Russell Liu:Yes, that is the way it’s designed so that it is more decentralized and fair.

Q:Will the device be able to connect to a mobile phone?

Russell Liu:Sure. You can actually connect all the devices in your home. If you are outside, roaming function will be available in the future, and you can browse online by connecting on the Deeper App. This should be consistent with the development of 5G. Only 5G will produce a low-latency, high-throughput experience, otherwise, connecting to the device at home will degrade the user experience.

Q:How much Internet speed does mining take up in your home?

Russell Liu:It’s all settable; speed, volume, and the type of traffic shared can all be set.

Q:When will the new Whitepaper be released?

Chao Ma:We have finished the draft of the Whitepaper. Final modifications are being made currently.

Q:What is the annual output of the contracted factory?

Russell Liu:Present production capacity of this factory is 100k units/year

Cheryl Liu:Several factories have already sent us their offers, we are open to discussions

Investment Questions

Cheryl Liu:Before the end of the year

Q:Is there any specific currency price expectation for DPR after going on the exchange? Can I buy tokens now?

Cheryl Liu:You can’t buy tokens yet. As a non-security token, there is no expectation of price.

Q:What are the investment institutions of the project? Is Binance an also an investor?

Cheryl Liu:Republic,UVA,Youbi Capital,Gobi Capital, Snz, etc. Republic is invested by Binance.

Q:Is Mars Finance also an investor of the project?

Russell Liu::The consensus lab under Mars was the first to invest.

Cheryl Liu:Mars Finance is our media partner, the consensus lab is the investor.

Q:Are there more institutional investors now? Fewer private investors?

Cheryl Liu:Only strategic investment groups are qualified to move forward with Deeper. We are saving most of our precious credits for each node in the future Deeper network.

Blockchain Questions

Chao Ma: DeFi will be a focus once the mainnet launches online, such as decentralized exchanges. We will provide a developer structure that will encourage everyone to participate. Allowing the network to become a completely decentralized ecosystem.

Q:DeFi has high performance requirements for the public chain, so it needs to be efficient and low cost. Can you share some of these aspects?

Chao Ma:Currently, it is difficult to outperform centralized applications with decentralized performance. However, as for the cost, recently we have seen that the transaction cost of Ethereum is very high, which is indeed a big problem. One approach is to reduce network costs with Layer2, specifically, the current zero-knowledge proof can put the verification of many transactions through offline processing. Online validators can quickly validate a large number of transactions. The processing speed is faster, hence the cost per transaction is reduced. This is our current focused research direction. Another direction is to use TEE for security calculations, which can also move the operation of smart contracts offline. We are spending time in understanding and studying both directions.

Q:Do developers have architectures designed for Dapp for business needs?

Chao Ma:We will make decisions based on the existing blockchain projects on the market with smart contract technology. Basically, it can be understood as the intelligent contract language and SDK (software development kit).

Q:There is a public chain recently tested 50 trades per 10 seconds, 400k DeFi transactions a day, how does that level compare to us?

Chao Ma:Our consensus speed will be faster, maybe 5–8 seconds. As for the maximum number of transactions per block, we haven’t tested it on a large scale; but 50 transactions will not be a problem, so it is going to be faster than this chain.

Q:What are the specific measures and steps that Deeper is likely to go beyond Ethereum?

Chao Ma:One of the problems with Ethereum right now is that the iteration is slow. Although there are many plans, 2.0 has been talked about for a long time, but it still has not been launched yet. When we design blockchain, we think about how to upgrade faster. In addition, our consensus algorithm intends to use Hotstuff, which is the consensus algorithm used by Libra. This is the best formula algorithm in the BFT series.

Russell Liu

1. Wider application scenarios to meet the rigid demand, even non-blockchain enthusiasts can participate and are willing to participate

2. Strong security protection

3. Proof of Credit(PoC)is more decentralized than PoS with more participants

4. The Credit mechanism comes with Defi and shared economy genes, and it is more suitable for decentralized trusted applications than ETH and EOS

Q:When to open the source code?

Russell Liu:Public chain code will be open to public after launching on testnet

Q:Can the project be coordinated with IPFS?

Russell Liu:We have considered the ability to integrate an IPFS gateway and are still investigating the technical details.

Q:For Deeper Chain, is everyone a validation node, or is there a validation node campaign?

Chao Ma:It is by validating the node campaign. If everyone is a validation node and consumes too much network bandwidth, one is that it is not necessary, and there is no technology to do it on such a large scale. That’s why we have a two-layer structure.

Q: If it’s a validation node campaign, is it not as decentralized?

Chao Ma:This can be done with open staking. Deeper devices will reach a large order of magnitude in the future, with a limited number of verification nodes, and new verification nodes will be elected every period of time (such as every day). This ensures both speed and decentralization.

Russell Liu:In addition, nodes that are not validation nodes can still pay dividends according to Credit

Chao Ma:Dividends are paid in proportion to each person’s contribution to ensure fairness.