PART 1. Introduction of Evanesco project and community questions.
Hello, Satoshi clubbers and guests of this site. Let’s talk today about Next Privacy Finance Ecology Protocol.
Evanesco is the unique financial protocol platform in the Web3 ecology that combines Layer0 network infrastructure and privacy computing framework & provides safe, reliable, and efficient network access and encrypted financial services for the Web3.0 application and DeFi ecology.
The plan of AMA session:
- Part – Introduction and preselected questions.
- Part – Live questions
- The Quiz about Evanesco
The reward pool is 500$
Leading the AMA our clever and fun admins:
Mary | Satoshi Club – @Satoshi_club
D. | Satoshi Club – @Cool_as_Ice
The Representative of the project:
Andrew – @andrewding – Evanesco product director
Justin – @papayasoak
Introduction of Evanesco project.
Mary | satoshi club:
Hello, satoshi club! We are happy to announce our ama session with Evanesco! Welcome to satoshi club😀
D| satoshi club:
Today our guests – @Andrewding and @Justinewie !
Andrew:
Nice to meet all guys here 😀🤝
Mary | satoshi club:
Welcome here 😀 How was your day?
Justin:
Hello thanks for having us! 😀
Mary | satoshi club:
Hello, Justin! Nice to e-meet you! So, let’s start 👍 Guys, could you please introduce yourself and tell us more about Evanesco?🥳
Justin:
Feel free to check out our project, EVA on the following links:
👉🏻 join the following groups and channels:
Telegram | website | Twitter | Medium
Andrew:
Ok
Hello everyone, I’m Andrew, the Evanesco product director. I used to be the head of the public chain ontology and the blockchain products of a large e-commerce company. Our Evanesco project is a financial protocol platform that combines layer0 network infrastructure and privacy computing framework.
Mary | satoshi club:
Ontology, that’s cool!
Andrew:
Simply put, we provide privacy protection for the current blockchain transaction network, and our privacy protection is the whole process, from the bottom layer of peer-to-peer network to the blockchain ledger layer, and then to the application layer, such as wallets, exchanges, and DeFi/NFT transactions, etc., and all of these can obtain privacy liquidity through our privacy protocol technology.
Mary | satoshi club:
Privacy that’s what we need! 😀
Andrew:
Done
Mary | satoshi club:
Did you develop Evanesco project for a long time?
Andrew:
Yes, we prepared for EVA for almost two years
D| satoshi club:
Why have you decided to release it now?
Andrew:
Most of our time is spent on the basic layer0 network. Recently we have finished our rust version of the privacy network client.
D| satoshi club:
Got it! So now it’s a good time for release, everything is ready and working? 😉
Andrew:
Yes, it’s time for us to show our tech and products
D| satoshi club:
Awesome! Thank you for the nice intro! Let’s go to the details and open the first part of ama? 😊
Mary | satoshi club:
Fantastic!👏
Andrew:
Ok 🤝
Preselected questions about the Evanesco DeFi project.
D| satoshi club:
Q1 from telegram user @nadee5
Congratulations!
Evanesco has become the first officially recommended ITO by mask network with community votes .it shows huge community is with Evanesco, and also all whitelist participants will be listed EVA foundation’s June airdrop plan. Please tell Satoshi clubbers more details about this event and how to join the ITO? Any special reason to select a mask network for your ITO? Why does ITO hold in two rounds? How many whitelist positions for each round?
Andrew:
You should finish some tasks, like hold masks, follow and retweet EVA’s announcement twitter about ITO date and whitelist rules,
join EVA’s official telegram group chat
Now, you still have a chance to get EVA ITO 1st round by referring 5 or above users to join in Evanesco official telegram group
We Evanesco are based on our strong agreement with mask network for the protection of social privacy. After discussions with the EVA foundation, we decided to participate in the ITO.
Yes, we design two rounds to release EVA for more different users to participate in our ITO, and round 1st max buying amount (single address): 800 usdt (erc20)，round 2nd max buying amount (single address):：400 usdt (erc20）
no limited positions for each round, fcfs
Mary | satoshi club:
When whitelist will be closed?
Andrew:
Mary | satoshi club:
We still have one-week 👍 To apply for the whitelist.
Andrew:
Yes, it’s hot now.
D| satoshi club:
One short question – do people have to pass KYC verification to participate in ITO?
Andrew:
No need to do KYC, but you should submit some info, like a Twitter account, telegram account.
Mary | satoshi club:
Is it to protect from bots?
Andrew:
Yes, absolutely.
Mary | satoshi club:
Thank you for your answers! Ready to proceed? 😀
Andrew:
Yep, go ahead
D| satoshi club:
Q2 from telegram user @korryl
I read that Evanesco has 3 main products inside your platform, that is two-layer consensus system, a layer private network and last is smart privacy transaction engine. Could you please explain what is the use of each product? How do they work and how to use them?
Andrew:
Ok，let me introduce these 3 main features of Evanesco
1) the original layer 0 privacy network, which provides multi-hop privacy network transmission, hides the routing information of both parties in the transaction, isolates identity information, strengthens the protection of traditional encrypted asset transactions, DeFi transactions, and NFT asset transactions, and provides a privacy mechanism at the account layer/account layer. , application layer privacy transaction protection, hide transaction content, view and transfer transaction content and assets according to contract authority, and realize three-layer privacy protection of routing, assets, and transactions;
2) the advanced GPOW double-layer consensus mechanism. This consensus is composed of pow miners and pos verifiers. Pos verifiers confirm transaction settlement and profit-sharing. Pow miners mint coins and elect pos verifiers to cooperate with each other to eliminate potential centralization risks to achieve fairness and more people a trustworthy vision of building the next generation of financial ecology. The GPOW consensus engine is developed based on the hash rate proof mining algorithm and Polkadot’s grandpa algorithm.
3) for a smart privacy transaction engine. Evanesco provides different decentralized privacy transaction groups for different tokens and NFT assets, standard external interfaces, excellent scalability, and convenient financial ecological expansion. Evanesco has core components for the synthesis and dismantling of diverse assets. Provide complete privacy financial derivatives solutions.
What needs to be emphasized is that our moat, a layer0 privacy network. As a complete privacy public chain, the technical difficulty of our Evanesco will be higher than that of some DeFi and NFT projects, such as cryptographic protocols and underlying privacy networks. Since we are the layer0 infrastructure of the privacy network, we can not only empower Polkadot ecological privacy attributes, we will also link to more blockchain platforms, such as BSC, HECO, Solana, eth, etc.
Done😀
Mary | satoshi club:
You know that a lot of users tell that they have nothing to hide and they don’t need privacy networks. What can you answer them?
Andrew:
At first, I also did not care about my privacy about blockchain trading, but as time goes by, I found that I have no privacy with my digital assets address. Evanesco is aimed to serve these people who want to have privacy on blockchain trading, including wallet users, exchange users, dark pool users etc.
D| satoshi club:
That’s cool.
Since you use POW algorithm for mining, do miners need some special and expensive hardware to mine coins?
Andrew:
In the beginning, PC is allowed to join our mining network.
D| satoshi club:
But later more powerful hardware will be needed?
Andrew:
Still under discussion, but early birds catch worms.
D| satoshi club:
Well said 😊👍
Mary | satoshi club:
Great answer😀 Thank you for your answers! Ready to proceed?
Andrew:
Yes
D| satoshi club:
Q3 from telegram user @indomiekuy
Evanesco has created a token name with EVA token. Can you please tell us what is the main role of EVA token in your ecosystem and how about your tokenomics distribution? Is there any benefit for users holding your token?
Andrew:
Eva is a network-wide governance certificate and a transaction fee certificate. The main roles include various transaction fees, privacy data routing, cross-chain commission fees, asset transaction/synthesis fees, asset issuance fees, cross-chain gateway and transaction verifier pledge fees, etc.
The total amount of EVA is 1 billion, the total amount of mining is 400 million, the minting cycle is 10 minutes, and each pow block rewards 2000eva, which is halved in about 694 days.
There are many income areas, such as the pledge income of the coming mining network etc.
Done😀
D| satoshi club:
So better way is to join your mining early to get more rewards 😄😉
Mary | satoshi club:
Will you have governance?
Andrew:
Yes, DAO is also planned to conduct in our roadmap for governance
D| satoshi club:
By the way, can you share your roadmap?
Andrew:
Plenty of important milestones coming up in the #Evanesco roadmap
— Evanesco Network (@evanescoio) April 27, 2021
Which milestone are you most excited for ❔ pic.twitter.com/UFj6Mvc0Dw
Mary | satoshi club:
Thank you for your answers! Ready to jump to the next question? 😉
Andrew:
Yes, I am ready.
D| satoshi club:
Q4 from telegram user @highpee
One of the unique attributes of Evanesco is that you are capable of offering privacy even in liquidity pools and you will have a liquidity dark pool that will be used to protect user’s identities and ensure the privacy of LP providers. In what way can a dark pool be deployed effectively and still be able to ensure transparency or openness in the activities of such pool? How will you be able to determine and track the respective LP assets contributed by liquidity providers in order to determine a corresponding APY and reward that should accrue to LP investors in an encrypted liquidity asset pool structure?
Andrew:
First, the dark pool can hide the user asset details and account information, but the number of each asset in the pool is transparent, that is, the investment income ratio of each asset can be tracked, and the user himself holds the private key and can the details of your own assets and APY are displayed on the wallet. The assets as income are allocated to a certain LP asset as a whole. This asset is also transferred to the user’s account in a private transfer mode. The entire process is secured through zkp.
Secondly, even if the income is transparent funds, the user can obtain income by providing a certain asset certificate, that is, by proving the share of lp. This certificate can be a partial share, without the need to provide a complete balance, and the combination can be proved through multiple shares. And the method of extracting different income assets can completely hide the income situation of the assets. We are still iterating on this part
Done🤝
Mary | satoshi club:
As I understand you already tested everything, and it should work perfectly, right?
Andrew:
Yes, we have tested the privacy network, tech developers can join our Discord and start our GitHub
Mary | satoshi club:
What about security? Can it be audited or may already be?
Andrew:
Yes, it will be audited, and recently we will announce the audit process.
D| satoshi club:
So, all information about the user’s assets in the pool will be visible only to users who have keys? And it would not be displayed in blockchain?
Andrew:
Yes, it also won’t be Monitored by third party.
D| satoshi club:
That’s cool. We need such a level of privacy 👍
Mary | satoshi club:
Gotcha! Thank you for your answers! Ready to go to the next question?
Andrew:
Yes, lets do it
D| satoshi club:
Q5 from telegram user @cryptofollower
Why EVA has 10 minutes block times. Don’t you think 10 minutes is too long for a financial protocol? How do you overcome the transaction speed problems? As bitcoin also have the same block time people don’t want to use Bitcoin network for transactions. And could you please explain what is layer 0 network infrastructure that you are combining?
Andrew:
According to the successful experience of bitcoin operation, we set the block generation time at about 10 minutes. But it doesn’t affect our financial protocol operation.
Eva has an open/private p2p network composed of miners, providing private communication services while mining, maximizing the community and security of the network
We can see this picture to explain the layer 0 network
1.the client establishes a connection with the entry node 1, and generates the connected session and the sink node id (node 2).
D| satoshi club:
So, speed of your network will be faster than BTC transactions? 😁
Mary | satoshi club:
I also wanted to ask this question, because when number of users and transaction grows they always loose speed.
Andrew:
😂 Yes, bitcoin is too slow, our block time doesn’t affect our mainnet trading speed since our consensus mechanism is not the only pow, we are GPOW, pow with grandpa pos
D| satoshi club:
Nice! Thanks! That was important to clarify 😊👍😁
Mary | satoshi club:
Can’t wait to try it, I am a big privacy network fan😀
Andrew:
2.access node 4 receives the encrypted connection request and forwards it to the target node. The target node with the corresponding private key decrypts to obtain the session number and the sink node then informs the access node 4.
3.after the access node 4 knows the sink node id, it selects the relay node (node 3) from the DHT and establishes a connection with the node 2 through the node 3.
4.the entry node 1 establishes a connection with the sink node 2. Then the initiating node c and the target node are successfully connected. A default connection has 4 hops.
Mary | satoshi club:
Thank you for your answers, Andrew! Ready to go to the 6th and last question from this part?
D| satoshi club:
I have a big collection of privacy coins as well 😁
Andrew:
Is EVA the next one?😄
D| satoshi club:
💯
Mary | satoshi club:
Don’t doubt 😂
Andrew:
We are mining coins in fact.
The financing part is not high, and the online unlocking is very small, so the early EVA circulation is also very low. And the tokens generated by our mining accounted for 40% of the overall proportion.
Done 🤝
Mary | satoshi club:
And that’s even better! You will have wide audience 😀
Andrew:
And also provide privacy for network
D| satoshi club:
Two in one 👍
Mary | satoshi club:
Which wallets we will be able to use to store EVA?
Andrew:
We will see in the coming weeks, we have generated the EVA on erc 20, and once our mainnet launch in q3, we will switch it into our network, since we EVA are a complete privacy public chain
D| satoshi club:
Awesome! We will follow your updates 😉
And the last question from part 1!
Q6 from telegram user @pratze
I read from your site, Evanesco will have a feature about NFT name with “privacy NFT market” actually there is already so much NFT market out there for example Opensea, Rarible, Atomichub and other. But what innovation do you bring to your NFT market? What is the meaning of “privacy” in your NFT market?
Andrew:
In the beginning, I mentioned that we are the first layer0 of privacy network infrastructure. We are doing the bottom layer things in the privacy track. There are many scenarios where our privacy network can be used on the superstructure.
NFT is also an important one. Empowering the private transactions of NFT assets with our underlying privacy protocol network is DeFinitely our focus.
Of course, we will also work with other partners in the privacy track to build the privacy and security of NFT transactions. Recently we EVA has reached strategic cooperation with the leading NFT marketplace pacific, and Evanesco will safeguard NFT assets and trade safety on pacific full-stack.
We're excited to announce a strategic cooperation with NFT marketplace @Pacific_NFT!
— Evanesco Network (@evanescoio) May 11, 2021
Learn more about this cooperation in the article below 👇https://t.co/DUqrN0xP34
Mary | satoshi club:
Will Evanesco have its own NFTs?
Andrew:
At first, we will cooperate with NFT projects to supply them with privacy protection. We are also planning to turn our pow computing power into NFT assets.
D| satoshi club:
Wow, this is interesting.
Andrew:
And then these pow NFTassets can also join in DeFi to DEX.
Mary | satoshi club:
So, as with transactions NFT owners won’t be visible?
Andrew:
Yes, hide the identity and payment info of the transaction, protect the privacy of both parties in the transactions.
Mary | satoshi club:
Awesome 😎
Mary | satoshi club:
Thanks, Andrew! You DeFinitely got more supporters today!
Ready to proceed with the live part?😀
Andrew:
Yes
Mary | satoshi club:
Let’s go 🚀
PART 2.Questions about the Evanesco project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Evanesco protocol crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q – 1 from a telegram user @badboi02
Why name Evanesco?
Andrew:
Evaneso, which derived from Latin, means “vanishing without trace”, you can imagine it with our privacy feature😀 It is also one of Harry Potter’s Spells lol.
Q – 2 from a telegram user @feranno
What is your goal regarding the multi-ecosystem Defi and NFT market, will there be unique solutions to bring to the market?
Andrew:
Yes, We will provide a full-link privacy solution, from the bottom layer of the peer-to-peer network to the blockchain ledger layer, and then to the application layer.
Q – 3 from a telegram user @messilolz
I have never word ITO before, is it different than IDO or as similar to join?
Andrew:
You still have a chance to join our ITO, read the details about our ITO through this tweet https://twitter.com/evanescoio/status/1391043806481453056
Q – 4 from a telegram user @Jodasf
What is the GPoW consensus and how important is it for the proper functioning of Evanesco. could you also add a brief explanation of how it works?
Andrew:
GPoW is a two-layer consensus mechanism that combines pow and Grandpa algorithms. Of course, we have made a series of optimizations to Polkadot’s Grandpa algorithm. Here we can introduce our calculation power proof and consensus profit-sharing mechanism.
1) The chain is divided into a profit sharing cycle and a transaction block cycle
2) In each profit sharing period, the miner calculates the proof of calculation power and calculates the VRF according to the hash of the block where the proof of calculation power is located and confirms the gap and parameters of the next proof of calculation power.
3) Miners with high computing power can provide multiple proofs of computing power in a profit sharing cycle, but they do not increase linearly
4) At the end of each period, the contract will divide profit according to the proof of computing power The main advantage of GPow is the organic combination of token casting and final consistency confirmation to provide near real-time, asynchronous and secure finality. It is the incentive and security guarantee of the Layer0 network protocol layer, which maximizes security in the current network environment.
Q – 5 from a telegram user @AllenLu
Your market is very global and Defi + CEFI?
Andrew:
Yes, Evanesco is the global blockchain project and public chain
Q – 6 from a telegram user @nadee5
Is Evanesco available as a mobile app?
Specially for trading?
Andrew:
In the coming weeks , soon, don’t be too harry
Q – 7 from a telegram user @highpee
Layer 1 and Layer 2 protocols are popular in blockchain technology and protocols have build on them to offer crypto – solution that can focus on specific blockchain interest that improve user experience. However, I discovered that Evanesco is a Layer 0 privacy network. What is the benefit of building on Layer 0 and how does it strengthen private network communication services that you offer?
Andrew:
layer 0 is the basic infrastructure, and in the future will also link to more blockchain platforms, such as BSC, HECO, Solana, ETH, etc., to empower our core layer0 privacy protocol network,
Q – 8 from a telegram user @SatoshiUncle007
Do you have a strategy for educating non-Crypto users? Please explain to me?
Andrew:
Currently, we are doing the public chain, in the future we may introduce our privacy protocol to traditional areas with no -crypto.
Q – 9 from a telegram user @Xusuo
Evanesco project is a financial protocol platform. Can you explain to me what are you focus for now or your short-term goal for the Evanesco project? And also how about your long term goal, what achievement do you want aim to reach?
Andrew:
For short-term goals， we are focusing on testnet & mainnet launch， mainnet is supposed to be launched in Q3 in 2021, also we are engaged in empowering the multi-ecosystem defi & NFT market with privacy features during this time.
For long-term goals, we are aimed to build privacy financial platform,including private financial open platform, value-added service of private transactions, private lending market,privacy NFT market
Q -10 from a telegram user @pixma00
I understand that as of May 12, the Evanesco whitelist event will begin through the Mask Network. Can you detail to us what are the criteria to participate in it? Will all users participating in the ITO whitelist campaign be included in the June airdrop plan? What are the Evanesco ITO whitelist rules? Why ITO?
Andrew:
Yes, you can know more about our ITO by this tweet https://twitter.com/evanescoio/status/1391043806481453056 , it’s hot now!
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the Evanesco project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
Our contacts for more details:
English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website
Our Crypto Partner by this AMA: Evanesco
Telegram group | GitHub | Tweeter | Website | Discord