AMA RECAP — Whale Blockchain Enthusiast with Crystaleum
On 28th December 2020, Crystaleum conducted an AMA in the Whale Blockchain Enthusiast. Our guest is Crystaleum team.
Lots of questions as usual from the Community about Crystaleum progress. The Crystaleum team took part in a very interesting AMA session which included Project introduction, Questions from twitter, and a live AMA session with the WBE community. If you missed the AMA in person, read this recap for a deeper insight into Crystaleum.
Let’s take a look at the most interesting points of our conversation.
🐳 Segment 1: Project introduction
Can you introduce yourself and introduce Crystaleum to our community?
Tom Doursoux: Hi everyone I do marketing and social media and design and we are very excited to making this project
Marks Evans: I’m Mark Evans full stack developer partners with @FrenchieCrypto and @Supersensaiyan on @Crystaleum
Crystaleum network offers lower transaction fees, and faster block times when compared to most altcoins. Crystaleum is a game changing cryptocurrency network ready to take on the challenge of scaleability, and usabilty, deploying mobile, and desktop applications for advanced DeFi + PoW + PoS blockchain capabilities.
When did Crystaleum genesis hardfork occur?
Crystaleum “genesis” hardfork was mined on block 307,001
When is the upcoming hardfork?
Hardfork CryptoBookers will commence mining on block 1,727,202.
Hardfork will produce two chains both 1:1 Crystaleum and CryptoBookers
Hardfork block: 1,727,202
Estimated arrival: 700,000 blocks from now.
Who is the team behind Crystaleum?
The team is comprised of many users around the globe. Crystaleum core users contribute resources, time, and effort to maintain the Crystaleum blockchain network. Crystaleum project is open source, and anyone may contribute to Crystaleum core. Open a Pull Request on offical Crystaleum Github or Contact firstname.lastname@example.org to inquire about contributing to the network.
What is the max supply of Crystaleum?
What is the circulating supply of Crystaleum?
What is the mining reward of CRFI?
What is the mining algorithm of CRFI?
Cryptonight Fast v1
How do we use the Crystaleum blockchain?
Is Crystaleum mineable?
How do we Mine Crystaleum?
Mine Crystaleum at https://mining.crystaleum.org/
Is Crystaleum farmable?
How do we Farm Crystaleum?
Farm CRFI with BTC, ETH, USDT, USDC, DAI and other cryptoassets on CrystalID https://id.crystaleum.org
Is Crystaleum Stakeable?
How do we Stake Crystaleum?
Stake CRFI on CrystalID at https://id.crystaleum.org
Is Crystaleum mobile?
How do we use Crystaleum on Mobile?
Register an account on CrystalID https://id.crystaleum.org/register.html
Is there a Desktop wallet for Crystaleum?
How do we use Crystaleum on Desktop?
Download Crystaleumd, and Crystaleum-wallet-cli on Windows and OSX
How do we Trade Crystaleum?
Trade CRFI on BTC markets at Vindax.com
Trade CRFI on BTC, ETH, LTC, USDT, USDC, BSV markets on Indoex.io
Is Crystaleum listed on exchanges?
Yes, Vindax.com and Indoex.io
Will there be future Crystaleum listings on exchanges?
Yes, more listings are in negotiations at this time.
What products does Crystaleum offer users and investors?
Sophia: We offer both Farming and Staking options. We are also a Proof of Work, privacy centric coin.
Tom Doursoux: We also one of the fastest coin made by 6 second per block
Marks Evans: Exactly right @Supersensaiyan @FrenchieCrypto Crystaleum has built what has become a hybrid DeFi + Privacy + PoW + PoS and meanwhile CRFI has the fastest cryptonote blockchain.
Can you explain CRFI tokenomics? Such as the amount of supply, conscious circulation and etc. Then, also explain the use of CRFI tokens and are there any benefits to long-term holders of CRFI tokens?
Marks Evans: There is 100,001 max supply for CRFI the governance coin of @Crystaleum. Total circulations are displayed on the Oracle https://oracle.crystaleum.org at the time of post Crystaleum emission (fees) is 721.227 (1.092) the block reward is 0.0000012 CRFI plus transaction fees per block. There are 14,440 blocks per day, with blocks mined on average of 6 second target time. The benefit of holding CRFI long term is up to the holder, to participate in CRFI DeFi programs. If you’re interested in participating in a highly fungible, very rare, variable privacy, inclusive crypto asset which offers a host of DeFi programs such as multi-asset Liquidity Farming, Staking and more, then CRFI is for you!
Crystaleum (CRFI) performs a Hard fork (HF) which creates the Cryptobookers block chain. Why is Crystaleum doing HF, is it really necessary? Can Cryptobookers be purchased on the market? And are Cryptobookers Utilities the same as CRFI?
Marks Evans: Basically hardforks are scheduled as planned software updates become necessary to make improvements to consensus. Crystaleum launched as the fastest cryptonote blockchain. Crypto Bookers will attempt to increase the speed and therefore scale even further than Crystaleum. Crystaleum core planned the CryptoBookers Hardfork originally as a gift to the community. We will run both of the coins in parallel blockchains on the same seed nodes, and the hosting cost will not increase.
What achievements has Crystaleum achieved so far? And what steps or strategies will be carried out in the future?
Sophia: So far we have been listed on several exchanges, Indoex and Vindax being the exchanges we are using currently. We have set up our bounty program, and are just about to roll out our staking and farming programs on CrystalID wallets. We are excited for our future, which will of course include Cryptobookers hardfork. Later in our future we have planned another project called GamEx which we will make announcements for as we get closer to the launch.
Marks Evans: CrystalID is our web wallet service we invite you to register now enter invitation code WBEAMA to claim part of the $1000 in CRFI prize pool! See for yourself how easy it is to use below, register now https://id.crystaleum.org
🐳Segment 2: Questions from the Twitter
Question from @semogaberkahXD
I want to learn more about Crystaleum but very little information, the community is relatively empty and little information is shared. What strategy does the Crystaleum team have to develop the community and retain users for the long term?
Marks Evans: We invite you to visit our official social media and website for Crystaleum project updates
Website https://crystaleum.org official website receiving over 3,500 views daily and climbing
Telegram has 1,686 members is @crystaleum
Facebook with 3,716 is https://facebook.com/crystaleum
Twitter with 200 followers is https://twitter.com/crystaleum
GitHub over 6,000 commits to the code base is https://GitHub.com/Crystaleum/Crystaleum
Crystaleum CrystalID web wallet has ~5,000 members since inception
As part of an worldwide organic public outreach Crystaleum core has a healthy ongoing bounty program connected through @crfi_bounty_bot to manage CRFI wallet and bounty account simultaneously. CRFI bounty program is spanning across several social networks with multiple marketing partners including AMA hosts and channel promotions, as well as paid advertising and features on major cryptocurrency publications worldwide.
Question from @Rahul17567317
Buy one get one hardfork is coming January. Can you share us more details about it?How can I participate?Also what benefits that I can get by participating in it?
Marks Evans: Anyone who purchases any amount of @Crystaleum CRFI will all get equal shares of both coins and that means free @Crypto_Bookers airdrop for holding CRFI by the block that the hard fork is complete.
Question from @Rhada25
What motivation made you to build Crystaleum ? What is the main vision and mission of Crystaleum ? And what are the advantages that make Crystaleum different from other projects?
Sophia: We wanted to solve the issue of long transaction times. Our transaction time is only 6 seconds. We are also completely private which we know is important for many users. Our farming and staking options, combined with our bounty and hardfork will give users multiple opportunities to receive coins and grow our community further. Our supply is low making CRFI rare. We hope to grow even further with Cryptobookers and Crystaleum working together in the future.
Question from @levispham2
What incentives will CRFI have to increase token usage? Any token burns or staking plans maybe?
Tom Doursoux: We about roll out our staking and farming programs which will increase CRFI coin utility
Marks Evans: Quote your staking profit on CrystalID at https://id.crystaleum.org/stake.html
Variable rate Daily, Weekly, Monthly, Bi-Annual, and Annual staking plans are offered to CrystalID members holding CRFI.
🐳 Join Crystaleum Bounty!
💰Earn a share of $1000 CRFI Prize Pool for WBEAMA users only!
1️⃣ Register for CrystalID
https://id.crystaleum.org/register.html (verify account via email)
2️⃣ Visit https://id.crystaleum.org/settings.html and add Invitation Code: WBEAMA
3️⃣ Follow Crystaleum socially
• Twitter: https://twitter.com/crystaleum
• Claim: Visit t.me/CRFI_bounty_bot and enter command /setup
@CRFI_bounty_bot is connected to CrystalID. During /setup with @CRFI_bounty_bot you will provide Twitter, Telegram, Discord, and other information.
🐳 Once you complete the steps you will receive your share of the Whale Blockchain WBEAMA prize pool CRFI deposit directly to your CrystalID web wallet.
The prize pool is paid out after 90 days total prize pool allocation for WBEAMA is $1000 in CRFI. Free to enter, good luck!
🐳Segment 3 : Free Asking / Live Questions
Telegram User: Most investors simply focus on the price of the TOKEN in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of token investors in the long term?
Sophia: Our main advantages are going to be our Staking and Farming options. This will allow users to be paid for holding onto their coins. Our supply is only 100,000 and it will not increase. CRFI holds its value because there is a low mining reward, due to our low supply so this discourages short term investors from dumping the coins onto the market versus holding onto the coins for a better payout in the end. Crystaleum is just the beginning of an even bigger project as a whole, including our HF with Cryptobookers and our soon to be announced gaming exchange project, GamEx. All of these factors combined make us valuable to long term investors.
Telegram User: Tell me its 3 unique features that your competitor doesn’t have? How will people attract toward Your project?
Tom Doursoux: We made CRFI rare with small supply 100k and 6 second transaction per block DeFi+farming+staking. Hardfork coming buy one get one get a free coin buying crystaleum and keep it on your crystalID
Telegram User: How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for the them to let them better understand about your project?
Sophia: We are currently working to set up multiple channels for different countries/languages in order to reach a much broader audience. Any country that is not yet represented is encouraged to reach out so we can make it happen. We want information to be easy to read and accessible for all of our investors
Telegram User: What is total supply ? Are your plans to focus on market or to grow community?
Tom Doursoux: Max supply 100001 coins, we constantly promoting CRFI on every platform social media organically. We project to grow our community and our visibility worldwide using different platforms known as today.
Telegram User: Security is one of the threats to DeFi’s continuous growth. As one of the first DeFi products to continuously deliver innovation, how have you overcome this? Do you have a bug bounty program to check vulnerability of your smart contracts?
Marks Evans: As a result of flash loan attacks and smart contract exploits to Ethereum based DeFi networks… Crystaleum designed PoW + DeFi strategies, and launched it’s own native blockchain with source code based on the secure, stable, and highly innovative cryptonote monero. Crystaleum core development team has over 8 years collective experience working with blockchain. We don’t utilize smart contracts. There are multiple teams working on improving the native blockchain protocol and over 50 contributors worldwide maintaining security.
Telegram User: There are 3 core issues prevalent in crypto and blockchain:
Security, Interoperability, and Scalability. so How does Your Project plan to overcome these issues?
Marks Evans: Very good question. Crystaleum was founded to solve these real world issues with cryptocurrency. Over the last decade there has been a set of life altering discoveries in the realm of blockchain. Blockchain technology sprouted off onto a path now known as DeFi aka decentralized finance…
The founding network of this journey now taking the world by storm is the blockchain of Bitcoin. Bitcoin itself has been judged by millions around the world, seen as the competition for currency itself. Bitcoin or BTC for short, has been touted by many of the world’s brightest, and richest, however those two are not always one in the same.
Now that the blockchain has the world’s attention, problems start to arise when what was once known as the standard, is not yet obsolete, however there has become a diar need for improvements. Now Bitcoin developers work day and night to solve global scalability issues such as transactions speed, AKA transfer confirmation time.
Companies in centralized finance create solutions everyday to solve this issue. Such as Visa, Mastercard, PayPal, or even ApplePay. Not all of these solutions actually solve the problem. Visa processes 1,700 transactions per second, Mastercard processes at least 5,000 transactions per second or more.
Compare that to Bitcoin which verifies blocks in 10 minutes, at a speed of about 7 transactions per second, or Ethereum which processes blocks in a matter of 10 to 15 seconds, or a speed of 20 transactions per second, Ripple boasts a 1,700 transactions per second processing speed, privacy-centric Monero processes blocks in 120 seconds, and a transactions per second capability of 1,500 or more depending on block size which is dynamically calibrated per 100 blocks.
This is all part of a serious problem hindering usability, and scalability that major blockchain networks work toward solving each, and every day. We are pleased to announce the blazing fast, lightweight, privacy-centric @Crystaleum blockchain network is here to join the race! Crystaleum’s lightning fast private blockchain network processes blocks in just a matter of 6 seconds, or 20x that compared to the processing speed of Monero, or 100x that compared to Bitcoin.
Due to the similarity in design, along with many customizations in implementation, while being based on Monero blockchain, Crystaleum is poised to process transactions at a speed a minimum of 20x compared to the Monero network. That is FANTASTIC news! Crystaleum deployed mainnet in September 2020. Crystaleum has the capability to process transactions at an average 80–120 transactions per second.
There is room to scale the Crystaleum transaction speed, depending on the block size, which has no limit, and is dynamically recalculated every 100 blocks. In theory Crystaleum may be able to process up to 30,000 transactions per second. Thank you.
Nirwana | WBE: Thank you for answering all questions and thank you also for introducing the Crystaleum to our community. Before ending AMA, is there anything to say to the Whale Blockchain Enthusiast community. Before I opened the chat again. 🐳
Sophia: Thank you to everyone who participated, and we look forward to seeing you in our @crystaleum group here on telegram for up to date information on all of our new features being released. Thank you for your questions and your time with us and we hope to gain many of you as investors in our project in the near future.
For more information and future AMA, join our Social Media channels:
🐳 More information on Crysaleum:
🔸Telegram ANN: https://t.me/crfinews
🔸Telegram Crypto Bookers: https://t.me/crypto_bookers