LBank AMA Recap with $TUBES
On Apr.19, we held an AMA with the $TUBES team, hosted on LBank official telegram channel. If you guys had missed this session, here’s another chance to get a full transcript of the AMA event.
Introduction:
I’m AP and a professional service provider
We are dedicated to providing market development support for various projects, especially rich in experience with the Ethereum 2.0 upgrade and mainnet technological improvements.
Our professional team actively participates in the development of the Ethereum ecosystem, not just as observers but as drivers. We are proud to announce that we has actively participated in the formulation and contribution of Ethereum EIP4844, EIP1153, and EIP678 proposals, making a positive contribution to the continuous healthy development of the Ethereum ecosystem.
Section 1
Question 1:
1. Where do you think the Bitcoin ecosystem is headed next?
Guest:
First, the development of ecosystem coins will become the core of the Bitcoin ecosystem. Bitcoin will play a leading role, supporting the stability and development of the entire cryptocurrency market and also interconnecting with other digital assets to build a stronger blockchain ecosystem.
Second, the growth of Layer 2 protocols will provide more possibilities for Bitcoin’s practical applications. The popularization of Layer 2 protocols like the Lightning Network will increase Bitcoin’s transaction speed and scalability, making it more suitable for micro-payments and instant transactions, promoting its widespread application in everyday life.
Moreover, Bitcoin will become part of the global financial infrastructure, supporting a broader range of financial services and products. Bitcoin’s blockchain technology can be applied in areas such as international payments, cross-border settlements, and digital asset management, pushing the global financial system towards digital transformation.
Furthermore, Bitcoin’s application scenarios will further expand, covering more industries and fields. Whether it’s the Internet of Things, supply chain management, or digital identity verification, Bitcoin will play an important role, providing momentum for the digital transformation of various industries.
Question 2:
Among these tracks, which ones are currently more mature?
Guest:
Sure, let’s talk about Layer 2 protocols first. Layer 2 protocols are built on top of the blockchain’s base layer to address scalability and performance issues of the underlying blockchain network. By batch processing transactions or handling them off-chain, Layer 2 protocols can improve transaction processing speed and throughput. Projects like Merlin Chain have already achieved some success in this field, providing solutions for the expansion and application of blockchain networks. The development of Layer 2 protocols not only drives the advancement of blockchain technology but also opens up possibilities for more application scenarios.
Turning to encryption technology, it is an innovative method of permanently recording information on the blockchain, providing a richer and more diverse expression for digital assets. By enhancing data security and immutability, encryption technology offers a unique identity and value to digital artworks, collectibles, etc. Currently, encryption technology has shown mature application scenarios in digital art, copyright protection, and asset certification, providing important support for digital asset management and innovation.
In the blockchain field, Layer 2 protocols and Inscription technology have become two relatively mature areas, bringing new vitality and opportunities to the entire industry. We can see that these technologies have not only made technological breakthroughs but also demonstrated great potential in practical applications. In the future, I firmly believe that Layer 2 protocols and Inscription technology will continue to open up broader prospects for the development and application of blockchain technology.
Question 3:
What opportunities are there in the inscription technology right now?
Guest:
Inscription technology, as an important innovation in the blockchain field, provides new solutions for the secure management of digital assets and data privacy. However, on our path to success, inscription technology also faces some significant challenges, among which liquidity issues and insufficient financial foundation support are the most prominent.
Let’s talk about liquidity issues first. The development of inscription technology is greatly affected by market liquidity. Although this technology has great potential, its actual application may be limited by insufficient transaction volume and asset liquidity. In other words, a lack of sufficient liquidity support will limit the widespread application of inscription technology. Addressing this challenge requires our joint efforts to increase the adequate transaction volume in the market, enhance asset liquidity, and create a more favorable environment for the application of inscription technology.
Next, let’s focus on the issue of insufficient financial foundation support. To realize the successful application of inscription technology, we need sufficient financial foundation support. This includes the active participation and support of financial institutions, as well as the corresponding financial infrastructure construction, such as digital asset trading platforms, asset custody services, etc. However, there is currently a problem of insufficient financial infrastructure construction, which will limit the development and application of inscription technology in the financial field. Therefore, we urgently need to strengthen the construction of financial infrastructure, enhance the participation of financial institutions, and thereby address this challenge.
Question 4:
Facing these opportunities, what will the Tube ecosystem do
Guest:
The Bitcoin blockchain is recognized as the most consensual, orthodox, secure, and decentralized blockchain. The introduction of BRC20 technology has enhanced the inherent value of the Bitcoin network.
The TUBE protocol will utilize technology to tokenize inscriptions, allowing for fragmented trading of inscriptions and providing liquidity, addressing the major pain point of liquidity in the current inscription market.
The TUBE protocol will launch the first ERC20 multi-chain decentralized exchange. With breakthroughs in cross-chain technology and the realization of DEFI functions on ERC20, the platform will operate with transparent and secure rules, leading the industry’s ecosystem development. The main functions in the first phase of the platform’s technological ecosystem development include liquidity staking, liquidity rewards, decentralized exchange, staking lending protocols, and cross-chain protocols.
Additionally, our tubeDAO foundation is registered in the Marshall Islands and has obtained a financial license issued and regulated by the U.S. Treasury Department. We also have our own technical team, regulatory team, committees, and token launch platform.
The TUBE protocol has established cooperation agreements with multiple blockchain security audit firms to build a secure protocol ecosystem. This will serve all projects that are launched on the TUBE decentralized exchange in the future.
Question 5:
5. Can you discuss the development roadmap of the Tube ecosystem?
Guest:
First, let’s review the achievements of the third quarter of 2024. During this quarter, the Tube ecosystem collaborated with over 100 inscription projects. The inclusion of these inscription projects not only propelled the development of the ecosystem but also brought us great opportunities. We established close partnerships with these inscription projects, which are not merely commercial collaborations but partnerships for mutual development and growth. These collaborations not only pushed the development of the ecosystem but also brought us a wealth of opportunities and unlimited possibilities. In these collaborations, holding Tube tokens became one of the main conditions for participation, which further promoted the development and growth of the Tube ecosystem, bringing more incentives and benefits to the holders.
Secondly, the Tube ecosystem actively organized multiple Web3 carnival events, held in Hong Kong, Dubai, and Indonesia. These events provided a platform for us to showcase our strengths and attract users, as well as strengthening our global influence and reputation. Through these events, we established deep cooperative relationships with more projects, investors, and users, laying a solid foundation for future development. These events not only displayed the strength and influence of the Tube ecosystem but also strengthened our connections and trust with our partners, laying a solid foundation for future cooperation.
Finally, let’s look to the future. We are confident that the Tube ecosystem exchange will achieve a daily trading volume of $100 million. This is not only an affirmation of our past efforts but also a testament to our confidence and expectations for the future. We will continue to uphold the principles of openness, sharing, and cooperation, continuously innovate and progress, contributing our strength to the development of the blockchain industry. Let us join hands and build a more prosperous and innovative Tube ecosystem together!
Section 2
1. What do you think are the main obstacles hindering the development of the Inscription sector within the BTC ecosystem? How would you suggest addressing these issues to promote growth?
Guest:
Bitcoin, as an innovative means of payment and store of value, has sparked widespread interest in cryptocurrencies and blockchain technology globally. However, as the Bitcoin ecosystem continues to mature and expand, it also faces various challenges, including scalability issues, limitations in issuing tokens/smart contracts, transaction speeds, and others.
The emergence of Inscription technologies, such as the BRC20 standard, provides a promising solution to address these challenges within the BTC ecosystem. Not only can it enhance the BRC20 ecosystem, but it can also significantly improve its applications.
2. What impact does the application of ERC20 cross-chain technology have on the development of the tokenization sector within the BTC ecosystem? Do you believe it can effectively address current challenges?
Guest:
I would like to introduce ourselves as the first decentralised exchange to facilitate Inscription cross-chain transactions, named Tube Cross-Chain Protocol. YES WE ARE THE FIRST ONE!!!
This cross-chain protocol not only greatly enhances the overall liquidity flow within the ecosystem but also facilitates communication between blockchains other than BRC20, thereby strengthening sustainability. For instance, mostly nowadays inscription token can only be traded in a count of a thousand, but after using our fragmentation, it can be trade at any amount u wish to.
3. How do existing protocols within the BTC ecosystem affect the development of the tokenization sector? What measures can be taken to promote effective integration of these protocols with the tokenization sector, thereby driving ecosystem growth?
Guest:
The Tube protocol facilitates communication across multiple chains and also adds liquidity to tokenized assets through a tokenization fragmentation model, enabling previously low-liquidity inscription token assets to find applications, such as staking, lending, and etc.
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