November is almost over, but our Amarathon continues. And today we would like to tell you about the AMA session with our friends from HPB Global. The AMA took place on November 25 and our guest was Xiaoming Wang, Founder and CEO of HPB Blockchain.

The total reward pool was $500 $HPB and has been splitted in 2 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with High Performance Blockchain! @lvxing welcome to Satoshi Club

D. | Satoshi Club: hello again Satoshi club! @lvxing hello and welcome! 😊

Mary | Satoshi Club: @lvxing welcome here 😀

Xiaoming Wang: Hi everyone, this is Bob (Founder and CEO of HPB Blockchain). Glad to be here and have a fireside chat with the Satoshi Club community. Thanks Satoshi Club for the invitation to have this AMA.

D. | Satoshi Club: good to have you here!

Mary | Satoshi Club: And thank you for coming today 😀

D. | Satoshi Club: Can you tell us more about your role and your vision for HPB?

Xiaoming Wang: I am the HPB Founder and CEO. I myself was a tech geek in the early Ethereum community, so I acted as a technical evangelist at HPB’s early stage, and now my role is shifting to HPB’s strategic plans. Currently, there are some on-going projects on HPB MainNet, although encountering some progress delays, I believe we will see some killer applications built on HPB blockchain.
Regarding the vision of HPB, it’s still the same. We are dedicated to building a high performance blockchain accelerated by hardware for ultimate scalability and security. To build a prosperous ecosystem; hardware acceleration is the carrier. Together with confidential computing, it enables privacy sensitivity and computing values for broad commercial uses.

Mary | Satoshi Club: Nice

D. | Satoshi Club: impressive! thank you for intro! Now we will jump straight into the 10 best questions from Satoshi Club members

Q1 from Telegram user @Legrosbatard

I saw on the monthly report you work on an anonymous payment module. Is it compatible with China regulations and UnionPay partnership ? Could you tell me more about this feature?

Xiaoming Wang: Anonymous payment is a tentative project initiated by HPB to enable HPB to support private payments. The current account system used by HPB does not have privacy. That is, the payment amount of HPB is transparent and the payment path can be traced.

This new initiative aims to combine contract status privacy and zero-knowledge proof so that HPB can be paid privately. The general technical route is as follows: HPB is first converted to the token Hcash in the confidential contract, and then Hcash is used as the carrier of private payment, combined with zero-knowledge and mapping for state transfer, and then hcash is converted to HPB. At present, the project has been under development. For more details, we will publish more documentations on this project, please stay tuned with our official social media.

Currently, this project has nothing to do with the UnionPay Smart partnership. But based on the previous agreement, if this project has mature outcomes and applications, UnionPay Smart has priority to use it.

Mary | Satoshi Club: Thank you for this complex answer

D. | Satoshi Club: thank you for answer! im a big fan of anonymous coins and tokens

Q2 from Telegram user @konditer_rolex

On your website, you presented scenarios for using your blockchain. But as I understand it, these are just examples of what could be. Do you have examples of the implementation of your blockchain already implemented?

Xiaoming Wang: HPB is a technologically innovative public blockchain, and the blockchain has a strong community with open source geeks. HPB Foundation is dedicated to developing high performance blockchain infrastructure for blockchain innovations, and we are open to innovative blockchain projects deploying on HPB MainNet to build a prosperous HPB ecosystem together. Moreover, we provide bounty rewards for development contributions. Developers can make development proposals or claim development tasks on gotoken.io.

HPB already supports the following infrastructure and DApps:
1. HPB official：
HPB Wallets (hot and cold)；HPB Scan (block explorer)；in-wallet staking, pledge, voting, and rewards supported by smart contracts, etc.
2.HPB community initiatives：
Online interface for use with Ledger/Trezor: https://myhpbwallet.com/
HPB Raffle Game in Telegram channel @hpbprice
Blockchain explorer & DEX under Alpha testing now

Mary | Satoshi Club: I really like HPB infrastructure, thank you:

Q3 from Telegram user @PaoloMonte87

In one recent interview, one of your HPB partners (Jason HU) reportedly admitted that one of the main issues that the blockchain world as a whole is facing is related to consensus algorithm issues. Also, many public chains have already experienced security breaches.
To address the security issues HPB already responds by adding another layer of security with the BOE hardware, which adds up on top of the “software” ledger component of the blockchain and embeds itself an hardware RNG (random number generator), therefore greatly increasing security.
At the same time, we’re also hearing more and more the word “quantum computing” from news and media alike and – while quantum computers don’t exist yet – it’s general consensus that existing cryptography would be potentially vulnerable to it. Is HPB’s software + hardware already designed to face this issue? Or maybe you’re treating this as a concern that can be postponed, given the mainstream technological means currently available?

Xiaoming Wang: Like most blockchain systems, currently HPB Blockchain does not have the ability to fully resist the attacks of quantum computers. Technically, blockchain technology still can’t resist this systematic problem of quantum attacks.
Right now, our focus is still on HPB Blockchain and its ecosystem development. We may start some study on quantum computing later and will update the community accordingly.

Mary | Satoshi Club: Sure, great times ahead and with current progress we will see even more innovative things in the future

Q4 from Telegram user @AmirJosh

The HPB MainNet is running and stable for 2 years now with high security. The HPB Partner Jason Hu said in one of your AMA;
“HPB’s MainNet is a parallel world of Ethereum, with the same virtual machines, smart contracts, and account system; but HPB transactions are faster and cheaper; and the code has been audited by KnownSec.”
With this statement, it looks like HPB is ahead of Ethereum when it comes to efficiency and cost, but why can’t your platform gather more attention and support from the community? Is there marketing plans prepared by HPB to address this.

Xiaoming Wang: 1. First of all, HPB and ETH isn’t a competitive relationship, but a cooperative relationship; the two parties have their own technical advantages, and have complementary needs for technology and business.

2. Before the emergence of DeFi and NFT, there was less demand for low gas fee and TPS, and these current problems have restricted the ecosystem development of DeFi and NFT on ETH; and HPB blockchain is complementary to Ethereum for better scalability, which can lower blockchain projects’ innovation cost.

3. We always bear in mind that we are a blockchain technology driven project, and our marketing plans should always support the R&D. Over-marketing or over-exaggeration will bring adverse effects to the project, but as a part of the project operations, we will continue our marketing campaign to improve the awareness of HPB in the industry and build HPB’s leadership in hardware acceleration blockchain. So, more and more developers will come and build on HPB MainNet.

DeFi.Fund, a new investment initiative, has announced support for the development of the DeFi ecosystem on HPB. Also, DEX and NFT projects initiated from the HPB community are also developing to a tight schedule now. We believe that more and more developers will be attracted to the HPB MainNet with the growing awareness of HPB blockchain’s strengths.

4. At the same time, we are upgrading the virtual machine of the HPB mainnet to support the latest virtual machine of ETH, which is scheduled to be released on 15 Dec 2020 with our next version of the MainNet. Moreover, we are also actively moving forward our research work on cross-chain technology. This will allow projects on Ethereum to migrate to HPB MainNet smoothly and seamlessly. We believe we will see an unimpeded exchange of assets, data, and users across chains in the future.

Thanks for the question, we can move to the next one.

D. | Satoshi Club: thanks a lot for such a detailed answer!

Q5 from Telegram user @brodzonl

On twitter one of HPB team members sent this message to Vitalik on twitter.
Hello, Vitalik. Faced with the rapidly developing DeFi project on ETH, and the current high gas costs and transaction congestion problems.
Do you consider cooperating with HPB to help solve these problems on ETH?
How HPB can help Ethereum to make gas fees cost lower than now and help in transactions problem Ethereum blockchain currently has? (Asked by Jake Micheal

Xiaoming Wang: The scalability problem and high gas fee with transaction congestion hinders the development of Ethereum. As for HPB, it is a high-performance blockchain accelerated by hardware. Our BOE (Blockchain Offload Engine) is unique and innovative in the blockchain industry. With a TPS of 5000, the gas fee on HPB MainNet is comparatively low.

Concerning your question, at the start of our technical design of HPB, we made HPB support Ethereum’s system for user accounts, virtual machine and smart contracts, which provides a high performance on-chain scalability solution (hardware accelerated). Meanwhile, our team is also exploring secure and stable cross-chain solutions, so HPB and ETH ERC-20 assets can exchange freely and trustlessly.

By doing this, HPB can help ETH Devs by giving them access to a parallel public chain that looks familiar in set up (supports ETH VM, similar smart contract template to ETH), but can cater for high on-chain transaction volume services for which Ethereum is not yet ready.

About the gas fee solution, the overall gas consumption is greatly reduced on HPB MainNet. You may wonder that by simply reducing the gas fee, could it make the system vulnerable and bring more attacks. Of course, we have considered this beforehand and have worked on this to make our system more robust. For example, by adding the low-gas replacement function of txpool, HPB MainNet is more secure in resisting DDOS attacks.

Mary | Satoshi Club: Yes, Ethereum gas fee solution is really actual now, it’s very important that you pay attention to this things

D. | Satoshi Club: it would be interesting to see how HPB and ETH can be work together. thank you!

Q6 from Telegram user @Idee01

Defi has continued to dominate the trend while yield farming is pulling a huge traffic but lack of security and privacy protection may hinder its development. How does High Performance Blockchain plan to provide Defi with reliable security and privacy protection, paving the way for entry of institutional investors?

Xiaoming Wang: The HPB team is putting a lot of efforts in researching confidential smart contracts. Confidential smart contracts can ensure privacy protection when the contract is executed correctly. More specifically, a confidential smart contract guarantees input privacy, execution privacy, and output correctness. Actually, DeFi itself is driven by smart contracts, and we believe that HPB’s confidential smart contract can provide DeFi services with more security and privacy protection.

Mary | Satoshi Club: Crypto definitely needs more security and privacy protection! Thank you

Q7 from Telegram user @Brainchest

What is the main goal of creating HPB blockchain? I think the importance of such development is too overestimated. Creating your own hardware, creating your own software. All to create a unique random number? Is it really so important or am I wrong and the HPB blockchain solves more serious problems?

Xiaoming Wang: The starting point of HPB was to use the advantages of hardware to accelerate the blockchain performance. To date, we have been working on: (1) Using hardware random numbers to make the consensus algorithm of the blockchain more secure; (2) Using hardware to accelerate transaction verification, thereby increasing the TPS of the blockchain; (3) using hardware to accelerate the zero-knowledge verification process (researching and exploring).

D. | Satoshi Club: thank you! HPB can improve lots of things in crypto

Q8 from Telegram user @Pratze

I’ve read from the HPB whitepaper that you have a partnership with UnionPay, but there is a rumour that HPB partnership with UnionPay is already over, which one is true? Can you please give an explanation?

Xiaoming Wang: HPB and UnionPay Smart established a formal collaboration very early, and completed the first phase of technical research and development cooperation towards the end of 2019, providing UPS with a user authorization / deposit authorization system. UPS has paid for
the work we have done for them. Because of the non-disclosure agreement signed with UnionPay Smart, it is currently impossible to publicly disclose more specific information, but we could show you the Agreement in person if any community member visits our office.

Due to the regulatory environment changes, launching it on the public blockchain is not currently feasible for UPS; we are also very disappointed with this.

Mary | Satoshi Club: Yes, regulations are pure pain! And it’s really great that you don’t stop and moving forward to the new partnerships!

Xiaoming Wang: At the same time, we are still actively working on new commercial applications, such as HPB’s integration with SZ (https://www.sz.cn), a decentralized social e-commerce platform. Right now, SZ has already built a 100,000 person community with over 200 BD Partners involved..

We keep working on the HPB blockchain innovation and application and have never stopped. Please stay tuned with us on our latest.

Q9 from Telegram user @mikenit890

Why exactly does your team need a sidechain of the HPB MainNet, capable of acting independently? Since most activities are run on the mainnet, why do you propose that the sidechain speed ought to be x50 faster than the Mainnet? Isn’t the faster speed supposed to be on the mainnet? Please explain.

Xiaoming Wang: The sidechain independent of HPB MainNet is an exploratory project based on HPB’s consensus algorithm, which can transfer the storage pressure caused by high volume of transactions. This project is still in the laboratory phase, and the team will disclose more information on concrete outcomes later.

Mary | Satoshi Club: Nice, more announcements are on the line

D. | Satoshi Club: very nice! interesting things ahead of us

Q10 from Telegram user @KhaleesiTheCryptoLady

What is the BOE Hardware Accelerator, what is its use? What are the advantages and benefits it provides in HPB’s ecosystem as well with the users?

Xiaoming Wang: HPB’s hardware accelerator, called the Blockchain Offload Engine or BOE, is installed inside each of the high-spec servers running an HPB node across the globe. These BOEs take pressure off server CPUs and drive some of the fastest transactions in blockchain (5000 TPS average). You can read more about our BOE blockchain accelerator here: https://www.hpb.io/boe

Mary | Satoshi Club: Unbelievable speed. Thank you for your answers

D. | Satoshi Club: OK – we have some time for a few more topics that were raised from the advance questions from the community…

Q11

The recent decision to suspend staking caused a strong reaction in the HPB community? What happened and what are your new plans?

Xiaoming Wang: Here is a video about BOE： https://www.youtube.com/watch?v=BepjNeUa5_s&ab_channel=HPBCommunity

Compared with the current mainstream public chains, the HPB team found that staking alone for a 5% annualised return is unsustainable; therefore, we initiated a community vote, which has not passed at present, so staking is suspended. A survey has been set up to get community input on 10 additional options here: https://forms.gle/yg89T9DfEJfYY49Z6 and the discussion can be restarted on the topic, once the community have responded to the survey in higher numbers.

In addition, the DEX built on the HPB main network is undergoing testing. It has a liquidity pool and order book function. After it goes online in the future, it will provide the HPB community with the opportunity to trade assets.

Q12

How many node operators do you have and how can I apply to become a node?

Xiaoming Wang: At present, HPB has more than 100 hardware acceleration nodes on the entire network. The new node election has not yet started. You can send an application email to [email protected] for communication.

The specific requirements are as follows:
You need to have a minicomputer with a bandwidth of about 100MB. Please refer to this link for details:
https://www.hpb.io/static/file/node/HPB_NodePlan_en_英语_English.pdf

Q13

We notice that some of our members are sceptical about the 5000 TPS claim. How do you respond?

Xiaoming Wang: It is planned that after the latest HPB virtual machine goes online in December, further online blockchain pressure test results will be given. We provided a report already in 2019 here: https://www.hpb.io/post-362. Without sitting at the same test bench, it will be hard to convince a sceptic. But, the relative speed of transactions on HPB should be clear when you transact with our wallet, or play the raffle @hpbprice as this records all transactions on-chain.

Q14

We hear that you have some wallet options? Can you tell us more?

Xiaoming Wang: The wallets currently supporting the HPB MainNet are:

1. The official wallet download address:
Hot wallet: https://www.hpb.io/wallet
Cold wallet: https://www.hpb.io/walletC

2. Community-developed wallet to use with Ledger and Trezor: https://myhpbwallet.com/

3. Metamask wallet: configuration guide https://www.hpb.io/question-132

Part 2 RAFFLE

$250/100s users were tipped $HPB to try HPB’s rapid fire rolling raffle, with a 1 in 5 chance of winning 8 HPB in each round! Raffle was hosted by HPB Price

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