AMA RECAP — Whale Blockchain Enthusiast with Alitas

9 min readSep 30, 2021

On 30th September 2021, Alitas conducted an AMA in the Whale Blockchain Enthusiast. Our guest is Alitas team.

Lots of questions as usual from the Community about Alitas progress. The Alitas team took part in a very interesting AMA session which included Project introduction, Questions from twitter, and a live AMA session with the Whale Blockchain Enthusiast community. If you missed the AMA in person, read this recap for a deeper insight into Alitas.

Let’s take a look at the most interesting points of our conversation.

🐳 Segment 1: Project introduction

Could you please give a little explanation about yourself and the Alitas.

Alitas Team: Yeah, sure. Hi everyone, I am the representative from Alitas Team. Alitas is the underlying infrastructure of a new generation of value networks, dedicated to building a new generation of underlying trusted network protocols and providing efficient, convenient, secure, and stable development and deployment environments to customers worldwide.

Can you explain the role of each part have in Alitas ?

Alitas Team: It is based on three characteristics,

a. Tolerance Algorithm. The tolerance algorithm is used to replace consensus to solve data consistency. Through the original ALITAS structure, the included nodes can obtain legal transaction references, realizing complete decentralization.

b. Star Drop effect Randomness like the star drop introduces nodes to obtain the legitimacy of the transaction. Realize high security of transaction privacy.

c. Alitas break the traditional chain structure and design a new consensus mechanism on ALITAS. While achieving complete decentralization and absolute security, it breaks through performance bottlenecks, and TPS can reach 30,000+ per second.

Where can we buy $ALT? How do you ensure the security of your project to the users?

Alitas Team: Currently, you could only buy at Cointiger and xt.com, You can buy ALT on bibox.com/en, Contract address: 0x5Ca09af27b8a4F1D636380909087536BC7e2D94D, Committed to open ecology, open application, and open cooperation with other ecosystems, the underlying Alitas infrastructure can be fully integrated with big data, cloud computing, artificial intelligence, 5G, and other technologies, and can seamlessly connect with other blockchain networks to realize a shared and open community.

I see that $ALT has been listed on Indodax and it is the market with the largest volume in Indonesia, is your target going forward to the Indonesian market?

Alitas Team: We are still looking for some long-established and high-profile blockchain projects to work with us, and our main direction is still around the development of the entire Alitas ecosystem, such as LinkEye, which is involved in oracle machines, Titanswap, which is involved in DEX trading, Litex, which is involved in deploying layer 2 network. We are trying to engage with them to see if they can reach a good cooperation opportunity. If the cooperation is successful, I believe it will be a great enhancement for the whole Alitas ecosystem. We also sincerely welcome cooperation with Indonesia-related blockchain projects to create a better blockchain world together.

Can you provide a current roadmap? What about your project goals? what will be realized in the future?

Alitas Team: Current roadmap- https://alitas.tech/#line, ALITAS, higher transaction throughput (through parallel verification) can be achieved, and no transaction fees are charged. With the continuous development of Tangle, more and more participants will initiate transactions, the entire system will become more and more secure and fast, the confirmation time will be shortened, and transactions will be completed faster and faster.

In the ALITAS system, every participant in the network can trade and actively participate in consensus. To be more specific, you directly locate two transactions (main transaction and branch transaction), and indirectly locate other transactions in the child tangle. In this way, verification can be performed synchronously, and the network can remain completely decentralized, without the need for miners to pass on trust and to pay transaction fees.

What is the role of tokens in the ecosystem. Where can people currently buy $ALT , What is the functions of the tokens #Alitas ?

Alitas Team: TOKEN is the token of the ecosystem on the DAG network and the main component of the system. This token will be used as the platform currency in the ALITAS network ecosystem. It does not represent any equity, participation, rights, ownership in any way, nor does it allow token holders to bear any expense commitments, income, profits or investment returns, and therefore does not constitute a security element.

TOKEN can only be used on ALITAS in Singapore or any relevant jurisdiction. The following is TOKEN’s cryptoeconomic mechanism. The design is based on the principle of a good cryptoeconomic model (token model) should provide additional value and realize a new dynamic circulation mechanism, you could only buy at Cointiger and xt.com

What makes us believe that you are better than your competitors?

Alitas Team: The off-chain second-tier network improves scalability by introducing application state, which imposes an unrealistic “always-on” responsibility on users because the second-tier network should always be available for on-chain disputes. For example, in order to prevent double spending, through a state channel, if a party enters the chain, the counterparty may be hacked or act maliciously and try to solve an old but more favorable state for itself. This data availability issue is even more critical in the sidechain channel of the proposer and requires independent monitoring and verification.

🐳Segment 2: Questions from the Twitter

Question from @SyminuL
In the next few months, Alitas will launch a premier NFT game launch platform. What variety of new NFT games should users expect. How will this platform helps small and emerging NFT games to increase their reach and visibility in the crypto ecosystem at large ???

Alitas Team: This year’s plan involves two main directions, one is liquidity and the other is technology development.In order to increase the liquidity of Alitas, we have already connected to several well-known exchanges this year and successfully get ALT listed. We are very excited to be listed on Indodax, the well-known and world class exchange with a good reputation among its users. As the project matures, we believe that Alitas will continue to get listed on more and more well-known exchanges, and we are working hard for this.

In terms of technology development, we plan to focus on research and development of Alitas on-chain governance functions and smart contract deployment this year, as these are essential if we want to build a complete on-chain ecosystem. In particular, the boom of NFT this year has led to the explosion of the entire Ethereum ecosystem, which has also triggered our interest and exploration in the direction of NFT, and we are also studying how to better integrate with NFT. At the same time, the boom of NFT has brought about high GAS fees in the ethereum network, resulting in abnormal congestion of on-chain transactions, which has caused many users to complain. We also hope to give users a new choice through the maturing of Alitas on-chain features.

Question from @KiyokoSumaru
Alitas has endeavored to carry out the technological innovation and introduced the tolerance algorithm, the star drop effect, and breaks the traditional chain structure and designs a new consensus mechanism. What is the tolerance algorithm, the star fall effect?

Alitas Team: Alitas has been endeavored to conduct technological innovation, and has put forward the Tolerance Algorithm, Star Drop Effect, and breaks the traditional chain structure, and designs a new consensus mechanism. While achieving complete decentralization and completeness, under its Alitas architecture, the TPS can reach 30,000+ per second

They technically pioneered “Tolerance Algorithm” and “Star Drop effect”. The “Tolerance Algorithm” instead of consensus completely solves the data consistency, and the “Star Drop effect” greatly improves the random attribute of the node’s legal reference, and realizes the high security of transaction privacy.

Question from @PKragak
Partnerships are one way to get a better position in the market. Talking about strategic partnerships, does #Alitas have any partnerships or is included in any collaborations that may be beneficial to result in exponential growth for #Alitas?

Alitas Team: It is the underlying infrastructure of a new generation of value networks, dedicated to building a new generation of underlying trusted network protocols and providing efficient, convenient, secure, and stable development and deployment environments to customers worldwide. The current development progress of our project involves the following main aspects.

Design of Alitas’ state machine.
Design of introducing hashgraph.
Design and development for RPC.

Please follow us on Twitter at https://twitter.com/AlitasTech for the latest information.

Question from @vilenvai0
I saw in the whitepaper there are low transaction fees but lets say we are in a scenario of best price is in uniswap and gas at that time is super high, how will your platform decide the best move comparing to other exchanges?

Alitas Team: With ALITAS, higher transaction throughput (through parallel verification) can be achieved, and no transaction fees are charged. With the continuous development of Tangle, more and more participants will initiate transactions, the entire system will become more and more secure and fast, the confirmation time will be shortened, and transactions will be completed faster and faster. Consensus mechanism Blockchain consensus is accomplished through a very strict mechanism. Each new unit in the DAG verifies and confirms the parent unit, The parent unit slowly reaches the genesis unit and includes the hash of its parent unit into its own unit

Question from @Ipman15547444
Can you list killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident.

This data availability issue is even more critical in the sidechain channel of the proposer and requires independent monitoring and verification. Such security issues should be carefully reviewed and guarded accordingly. It is even more critical in the machine-to-machine communication scenario where the IoT device is located, , it is important to design a proper mechanism, which guarantees the data availability of the off-chain platform. Solving this challenge requires systematic thinking and copper considerations of the entire off-chain ecosystem and existing solutions. By providing decentralized, efficient, simple and flexible important features and security, the availability of data can be solved.

🐳Segment 3 : Free Asking / Live Questions

Telegram User: With TPS can reach 30K+ and other Alitas’s advantages, what we can expect it will effect the value and price of $ALT? What is the benefit of $ALT token as a store of value?

Alitas Team: We believe that the price will show well about the technology. In the beginning, the price of $ALT is 0.9 USDT while now its price is over 10 USDT. The market has shown the recognition of Alitas. For more information about Alitas, please check https://coinmarketcap.com/currencies/alitas/

Telegram User: What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

Alitas Team: With the continuous development of Tangle, more and more participants will initiate transactions, the entire system will become more and more secure and fast, the confirmation time will be shortened, and transactions will be completed faster and faster.

Telegram User: Can you explain how the operating system involves a special purpose vehicle (SPV) domiciled in each market?

Alitas Team: A special purpose vehicle, also called a special purpose entity (SPE), is a subsidiary created by a parent company to isolate financial risk. Its legal status as a separate company makes its obligations secure even if the parent company goes bankrupt. For this reason, a special purpose vehicle is sometimes called a bankruptcy-remote entity.

Telegram User: What are the ways to get our first “Alitas” token ?

Telegram User: Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?

With the end of this AMA, we, the whole team, would like to thank you for your participation, apologize if there are mistakes or those that do not please our hearts. See you at AMA and the next Whale Blockchain Enthusiast Event, to the moon!

Alitas Team: It’s our pleasure to invite you all to our Alitas tech group (https://t.me/Alitastech).

A lot of events have been planned and will happen in our Alitas tech group every month. So don’t miss it.

For more information and future AMA, join our Social Media channels:

🐳 Whale Blockchain Enthusiast Group: https://t.me/WBEcommunity
🐳 WBE News: https://t.me/WBEnews
🐳 WBE Twitter: https://twitter.com/WhaleBlockchain

🐳 More information on Alitas:
🔸Website: https://alitas.tech/
🔸Twitter: https://twitter.com/AlitasTech
🔸Telegram: https://t.me/Alitastech
🔸Medium: https://medium.com/@AlitasTech
🔸Whitepaper: https://alitas.tech/doc/ALITAS_WhitePaper.pdf
🔸Coinmarketcap: https://coinmarketcap.com/currencies/alitas/

AMA RECAP — Whale Blockchain Enthusiast with Alitas

🐳 Segment 1: Project introduction

🐳Segment 2: Questions from the Twitter

🐳Segment 3 : Free Asking / Live Questions

For more information and future AMA, join our Social Media channels:

Written by Whale Blockchain