In the rapidly growing industry of blockchain technology, start-up companies rely on community support for their survival and prosperity. Successful companies realize the importance of creating and maintaining a strong community of investors, advisors, fans and supporters.
Blockchain company DECENT, creators of their own blockchain technology and platform called DCore, recently held an AMA (ask me anything) on Reddit where members of their community had the opportunity to ask the Founder and CEO Matej Michalko any inquiries about the company.
Many of the questions came directly from investors and community groups, covering a wide range of topics from technical clarifications to organization and planning, and provided a chance for community members to speak directly to the Founder. The following is a compilation of the questions and answers from the AMA held from March 16 – 21. DECENT has stated that they will keep the AMA open and their team will continue to answer comments or questions in Reddit, as well as live in their Telegram channel.
AMA with Matej Michalko, Founder, CEO and President of DECENT, March 16 – 21.
Q: People are still not clear about the functionality of DCT and because it is not used as currency for ICOs. What does DCT do?
MM: DCT is the gas that powers the DCore platform. All transactions that use the DCore daemon (use the blockchain) need to use DCT, even with custom tokens. When an end user pays with a custom token, the application will convert the token to DCT to work with the blockchain. This allows for almost limitless flexibility. DCT for transactions. DCT for ICOs. (This will be possible with the implementation of fixed supply for custom tokens in the next update.)
I also think a lot of people overlook the fact that DCT is actually a cryptocoin with a live, dedicated blockchain, so it isn’t just a token (such as ERC20).
Q: As with many startups there are growing pains to go with the accomplishments, how is DECENT prepared to face future challenges?
MM: We grow, we learn. While we already have some great people working here with some top tier skills, especially in blockchain, it’s important to remember we are a small company and it’s all hands on deck. That said, we have recently taken steps to make sure that only our most knowledgeable team members will be handling communication. Moving forward if there are any issues in communication with our team, you can ask to be redirected to our Brand Manager. We will answer your questions in https://telegram.me/decentch
Q: What is the word on new exchanges?
MM: This is something we really cannot control. We have put significant effort into exchanges but we are looking forward to the pending announcement at least as much as our investors. However, we are already listed on some major exchanges, like HitBTC and Bittrex, so streamlining the DCore infrastructure is still our number 1 priority.
Follow up Q (from ypp192): While I fully understand the team’s priority, the exchange situation does worries me to be honest. It is especially so when Bittrex is known to delist coins on a regular basis with a rather opaque policy, and some of the coins delisted caught so many people by total surprise (yes, trading volume, regulatory requirements, blockchain stability etc are the main criteria, but nothing is clear-cut).
So, let’s consider the fact that in terms of market cap, DECENT went from within top 100 last summer to outside 250 currently. And with the commensurate trading volume decrease, wouldn’t we have to worry about Bittrex suddenly delisting DECENT? I certainly hope it never happens, but just in case, it would be more reassuring if DECENT finds its way to another top exchange such as Binance, Bitfinex, etc (with all due respect, HitBTC is a second-rate exchange at best).
MM: We agree that more exchanges would certainly be better and we are not ignoring exchanges in the least. Also, we know that a decrease in volume could be problematic, but with things like better security for our wallets and more projects building on DCore, we are sure that things users and trade volumes will rise and also lead to listings on more exchanges.
Q: When will see streaming capabilities which utilize the DECENT infrastructure?
MM: There are a number of potential projects that could use streaming on DCore. Unfortunately it is too early to say for certain. VOD is certainly a hot topic right now, based on this it is only a matter of time. There are also some technical challenges right now and streaming on blockchain in-general may need to evolve before it sees mainstream adoption.
Q: Investors want to see more marketing, what are the plans for marketing in the future?
MM: For starters we have just hired a new Head of Marketing, based in Shanghai, with a background in startups, international business and community management, not only in Shanghai but also in Silicon Valley.
We are not just scaling up internally, but we are also extending our ambassador program. We are investing more time and resources than in the past and we are currently focused on better communication and documentation. Our new improved http://docs.decent.ch are up right now and we have hired dedicated personnel for handling developer related questions.
Distribution is also important along with contests and airdrops and we are improving our wallet based on investor feedback. We are also looking at community incentive and reward programs, to make sure that our most supportive members are shown the appreciation they deserve. DECENT is all about decentralization, transparency and community involvement.
Q: It has been a long time since we have heard about Naughty America, are there any updates?
MM: I can’t comment on NA. Anyone can build on DCore, with or without DECENT’s help no matter what comes of it, our focus, right now, must be improving infrastructure so that those with the desire to go blockchain, like NA, can do so as easily as possible.
Q: What is happening with the film independent, any news?
MM: The project with Pivotal Entertainment (helped arrange the events with both the IFP and Film Independent) is currently under NDA. We should see news of this shortly and we will let you know as soon as we can.
Q: What is the difference between DECENT and DCORE?
MM: DECENT is the company, the team, the community. DCore is the technology and platform for building blockchain based applications.
Find out more at http://dcore.decent.ch
Q: The documentation was delivered ahead of schedule, any updates to the roadmap?
MM: I don’t want to over promise, but we are ahead of schedule in a number of areas. The revamp of the the http://DECENT.CH page is coming along nicely. We have found an external developer to help us deliver that much sooner than we had anticipated. As soon as we have a release date for that we will update the official roadmap. So far everything is on schedule or better, I think it is safe expect that roadmap update in Q2.
Q: So many airdrops. Will there be a DCT airdrop?
MM: It really is the season of airdrops. We know how important distribution is for altcoins. We will continue to drop coins in the DECENT contest series, but any major airdrops would likely coincide with the ALAX ICO or the release of our new wallets Q2/Q3.
There is an ongoing airdrop on ALAX. Find out more at http://alax.io. One can get up to 6,000 ALX for participating.
Q: What considerations prompted DECENT to shift its attention away from the niche market of content distribution (epitomized in DecentGo) to a more general-purpose platform (DCORE)? Wouldn’t such move be too risky and ambitious, considering the sheer number of dApp platform projects that have already established themselves ahead of DECENT? What do you think will be DECENT’s competitive edge in this fiercely competitive segment of the market?
MM: After the launch of DCore and DGo we discovered, that within DCore there was simply more potential. Those we spoke with at various conferences and meetings were looking for ways to integrate our blockchain into their own projects but needed better tools and documentation to get there. Also, from a technical standpoint, DGo lacked architecture, the infrastructure it would need to really thrive. Thus, we had a choice, go back to a complete refactor of DGo or focus on the underlying technology and make it more accessible for all. The later was the obvious option. With others focused on dapps we could focus on DCore and infrastructure.
As for competitive edge, DECENT has native integration for IPFS (and soon, CDN) this makes it a very sound choice for any dApp that needs to transfer data files as well as secure transactions.
Once the DCore infrastructure is rock solid we can revisit content distribution with white label marketplaces or a new DECENT Official marketplace. But for now we will focus on our partners needs and make sure that they have the tools, features and resources they need to succeed.
DECENT is focused on bringing blockchain to real-world applications and they understand that in order to do this effectively, a strong community following is essential. Giving members a chance to speak directly to the Founder and CEO on forums such as this AMA on Reddit, or live on their Telegram channel are just a couple ways DECENT is involved and committed to their community.
DECENT is a non-profit foundation that has developed an open source blockchain ecosystem focused helping businesses adapt to a decentralized future. With their proprietary technology and platform called DCore, DECENT can improve a wide range of real-world applications, especially content distribution networks.
DCore is the blockchain you can actually build on. Developed by DECENT, this platform is set to revolutionize the way digital data is exchanged by providing simplified, decentralized and borderless content and data distribution. Strong cryptography ensures the highest level of security and trust. DCore is an open-source solution for companies looking to fast-track their own blockchain-based ideas.