LBank $DNX AMA RECAP
On May 23 , we held an AMA with the $DNX 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 :
Guest : Sumitomo, Chief Architect Dynex
Minus for the minus performing. Simple hash is, in our case, we actually reduced the hashing to 5 % of the work, and 95 % of the work is being done by computing jobs. Now, what does this mean in realities? So basically, first of all, it means that the energy, which is spent on mining is being used in a more sustainable form, and especially in a meaningful way. Because calculations on the dialects platform are not thrown away afterwards, like its class clash. Relations are being used to perform computing jobs. Now, you said before all these passwords, like neural, more frequency for computer, et cetera. The question is, by euromorphic is an approach to achieve what we call like quantum computing, like efficiency on current hardware. Got cheap. Use you do not need to have an expensive quantum machine. We can take all the gp us together, and basically keep plans of computing like efficiency.
So how do we get there? We basically analyze the number of alternative computing particles. Then we chose the one which he identified to be the most promising ones, which is neuromorphic computing, which is based on memory stores. I don’t wanna get into too much detail there. Isn’t an armor later today. It goes really deep into the proof of useful work model we are applying for the sake of general introduction here. This is basically what we are using here is based on a technology which was introduced already the 70s by researchers from hewlett packard. And ever since then has gained a lot of attraction for research values around the world. So every large institution is actually researching into utilizing memory stores and empirical studies. A very large number of prototypes have shown that this approach rewards. The computing approach is a more efficient than traditional computing in terms of computational efficiency. It is extremely energy efficient, because it’s inherently and see it employs all the effects like long range orders, self organization instantly jumps, and so on and so forth, which you typically see and expect on the quantum machine.
So long story short, we are building dialects on a block chain, because with that, we can utilize all those available gp us there. And everyone knows that basically, there’s a lot of dormant gp us out there, right? Especially since it real discontinuous proof of work, there is dormant hardware wrong, and this hardware is cheaply used to get a new purpose.
So as of today, for example, I checked, we had more than 250,000 gp us up and running in the network. Right? If you want to get a sense. So that means is in our network, if you see a hash rate, one hash is one full integration step of one full compensation. That is practically quite massive. I I have some pictures here, too. But I think it’s enough. If people go to mining who starts, they can check out a hash rate evolution. It has been growing quite nicely. We’re very excited because what we’re doing here is effectively proof of useful work, which is actually being used by customers. And it’s actually having some really, very, very interesting results.
Thank you very much. Thanks for the correction. What is diamonds? Even for it’s not dna I best pronounce it by next and such and also in such an awesome, that’s actually first of here in proof of useful warrants. For way of explained, trust me. It’s quite innovative. I would love to thank you for that. Moving on to our next question. For this section, it says, and what she does you to launch dns what’s are your, sorry, what regards its long time and deal delays? Am I correct?
So basically, am I if i’m understanding correctly?
Now let me finish the question quickly, sorry. And I also want to know how you guys, what’s the pronunciation? Is it dynamics or dna。
dialects? Is the name of the project and dnx is the customer?
Dialects. Awesome. So what she does it to launch dialects? And what are some of the real world problems? Pin points that dynamics will be. So thank you very much.
Yeah. So basically, as I stated before, alternative computing paradigms are quite important. Why? Because everyone has noticed artificial intelligence is growing everywhere. So basically, the computational power required is growing exponentially. Minimum check, gpt is like using massive amounts of computing power.
Now, on the other side, so this ever growing are different. Computing power demands cannot be fulfilled going forward anymore, because if that continues like this, you cannot make the computer so much faster anymore, because how small do you wanna make those transistors to moore’s law that every 2 years computing power is doubling coming to an end?
That’s why researchers around the world are looking into other ways, right? Besides quantum computing, because it’s not very practical. It is called alternative modes. We started problem actually already a few years ago, and we started researching. And we saw that this approach could potentially overcome that issue, because it’s so energy efficient. It solves basically problems for every global 2,000 company needs something like this, fin tech companies, pharmaceutical company, smart cities, dynamics, dna sequencing research, institutes, governments, gaming, and it is everywhere.
Most obviously, right? But I think the best way of explaining really the power of the dynasty network is to talk about a real world use case. And i’m gonna post picture now in the telegram channel. Yeah. And what you see there, basically, this is a pedestrian walkway. And kelly global is a customer of diamonds. And they are an architectural company, and they’re using evolutionary algorithms that are very advanced. They have to build this pedestrian walkway and in jordanian with this organic roof structure. Okay. Now the challenge here is, how do you position those columns that is organic shape? Because it’s not just flat roof or simple structure that it is really stable, but you also don’t want to use too many columns, because obviously, you want the pedestrians to have space to walk there. So typically, this task takes a statistical engineer, approximately a month using computers, running evolutionary models, get somewhere to its status. Then you can say I need the colors and here. So this whole building is being solid, right and stable.
Now, company approached us said, what can we make this faster? Right? Because 1 month spending time on this is, first of all, economically, a little bit problematic. And second, it’s expensive. So they basically converted this job and send it to us into the dianetics platform. And it took literally 1 minute for the tiniest platform to compute the solution. And then the starting of engineer looked at it, and he said this is incredible. And this is basically index invented a completely new way of how to possession those columns. Human would have never thought of it in pure perfection. So what does it mean? So basically, it saves cali global a lot of time in order to solve these kind of problems and to the color positioning. But it also creates innovation and this innovation, but it can also be innovation in medical medicine and drug discovery. Imagine if you can speed up drug discovery, what you could potentially do. And so the applications or dining singapore dining platform are more or less endless.
The last testimony you actually gave of the company that actually was able to perform. That’s also architectural projects using the dinosaurs black hole was actually also.
So are you guys work like ai company or you guys are double into everything generally? Or it’s just like a speech bring kind of. Should I say computing system or what in likeness center is? What is the best way to describe? By next compliment with?
I it is a supercomputing platform. It’s basically, it provides really simple and easy access to when we free succeed, which will be the most efficient, really platform out there, and which can be accessed by everyone. Right? Even from a home user, from a professional, from the company, from the government, you name it, right? You run your job on the dialects marketplace. Get results instantly like the power of quantum machines. Today idea finger tips。
that makes it it’s quite limitless. When it comes to the use case. Because every I say with daily, what we do now actually has to go to one level or another level of computing when we are another. So it’s not just focus on architecture. You can actually perform high speed need or high competing power taxes on the dnx or the dense platform.
Thank you very much for that. So we’ll be moving straight to our next question.
And the next question says, what is your stronger, strongest advantage that you think will make your team lead the market? What unique future sets, dnx apart from water project. So tell us something unique about you guys and what’s your strongest point? And what is the most attractive part of the dns project? Thank you very much.
I first of all, we obviously have to take a logical advantage, right? A super computer platform like this is simply not existing today, but there is no decentralized neuromorphic computing platform out there. But besides, the technology is also always important to look at the commercial model, right? And not only the commercial model for the developers, but the commercial model for the entire ecosystem. This is where we also have a true differentiator. So dynasty is a true utility coin.
Basically, computation being paid with dialects, coins with dnx right? And this is actually interesting because in normal or in other block chains, minors, for example, and they are very important for us because they contribute the computing power. They are dependent on block rewards and transaction fees, which are inside those blocks.
Right now, we have a smooth emission curve at one point, approximately in 4 years. All the points will be mined. Right? Now, a lot of coins, which don’t have a true use case. We’ll actually have an issue and because it’s simply not profitable anymore for a minor to continue block mining. In our case, we have customers paying for those computations and we call it a block fee. Right? So basically customer says what I want book computation on the dialects network for the next ten blocks, which is 20 minutes. And I need that amount of chips. And then he’s basically putting a price down and offered on as a block fee. And then the miners receive those fee. So basically end to end, it is attractive for the minor because it’s sustainable. Long after all, blocks have been mined. And it’s very attractive for the car, for the customer, because he can basically just rent on demand.
And these two things combined with the fact that this whole project is entirely self funded. 100 % fell on, no pretty mind normal. I steal, nothing like this. A lot of risks are being reduced. There’s no coin dance, nothing raising funds for mystics or whatever. Right? This project is just being executed by us until basically reaches profitability.
Okay. Thank you so much. But that’s, as you said, it’s actually, should I say aa front liner when it comes to such kind of utility within the space? And already one in one competition simply means you already a winner. So it’s actually a very sweet or straightforward advantage. So generally, you don’t see projects. Are they having? So choose cases. So when we straight to the what question, how old is the next and why are the big plants? What are the big plans for me? Forward? Can you show us the pictures of your roadmap? So how old is your next? What are the big plans going forward? And can you show us pictures of your math? Thank you very much.
I generally speaking, if you take the starting point of the project, which was a lot of research that started like 2.5 3 years ago, at the time next, main net is basically almost the baby. I it started mid of september last year.
So now we are barely like 8 months young. I now we are practically, we’re not a baby anymore. Let’s say we are toddler, but they’re growing up very fast and get a lot of attraction. And what we usually do is we do an iterative development process. And so basically, it started off with testing a lot of our complications than introducing the new dynasty of proof of useful work algorithm and so on and so forth. And that approach also continues with our road map. And I actually have a picture here, which i’m going to share right now in the main channel. And what you can see is basically on our roadmap sites, further, say exchange listings and clients at wallet and stuff like this. We have basically two very important parts which we are rolling out.
So one is the dialects marketplace, because currently, Customers which want to run computations on our platform, they have to come to us because we have no self service platform yet. So by november later this year, we’re gonna have to die next marketplace. So basically, customer simply goes on the marketplace, put his job life, get his solutions based on finished, right? So that really completes the cycle right into. And it will make it super easy to access for everyone. The dynamics marketplace is like a cornerstone milestone for us. And then as well. But i’m very excited about this because we started off with constraint satisfaction, problems. Jobs basically, now is coming machine learning. So that means you have your item machine learning model. You want to super charge it. Right? You take basically machine learning, the drop from dialects, you put in the optimizer, you click on train bomb, and you get a much, faster, much better results, at least that’s what our experiment shows.
Also, there’s an open call for bitter testers, close beta testers for machine learning. So everyone who is interested and all our channels, you will find the open call for better testers drop us. An email subscribe, because that will be very, very beneficial for us. And the cool thing about is during the close beta of machine learning. And all computations are free for the beta testers. If you have some really crazy, large model to test drive, become a bitter tester. All we ask for is feedback, obviously. And the possibility to share your experiences, which we believe will be great with the rest of the community.
Thank you very much for that. Samantha, you said something why you actually answering the question on a lighter note. She said you guys are like a baby or toddler, because you guys started on a september if i’m correct. But once you guys are more black is super toddler because you guys are doing super already because i’m wonderful to know where technology, generally speaking us today. I’m having such systems that can help you such a super calculation, super computing or super taxes when it comes to computing them quite also. And so I grew you guys from the stage of toddlers to the stage of super toddlers. Thank you very much. So i’ll give back to our questions that was on the lights and notes, though, back to your questions for the ema section. So to of what’s going on, I think let’s school straight to the last question for this section before we opened our community for our awesome l bankers. Do you ask your question? Because I know, i’m sure I know that the all better as we have classic great inquiry questions that they would like to know about the dnx projects.
Now, the principal says, what is the propriety of the thing that keeps them motivated in the spirits? And what can you say about partnerships? Because partnerships take some important roles in projects. So follows about your plans for partnerships. And what is the top priority pretty that I actually give them quite motivated? And thank you very much. Yeah.
So basically, as I said before, the project was started to create some breakthrough technology, right? Because we want to address energy consumption problems, rightly, which are basically related to trip to mining, but we also want to provide the support apply for the ever growing, including demands because of artificial intelligence. So what we are doing here is something we just not been done before. So that also means and this is what really drives us. That means if we succeed and we are working day and night on it, right? Then die next as a platform. I this project has potentially impact on our entire society. Imagine if new medication can be discovered first, imagine if climate change problems can be solved, I i’m getting goose bumps and all our team members are getting goose bumps because the opportunity is out there by creating such a wonderful technology together with our community, with all the miners of the customers is just mind growing.
And this is something you cannot do by yourself. This requires a community and you’re growing and growing. And that’s why we are doing a lot of activities to get more and more people involved, which is basically really important for us, right? And talking about partnerships. First of all, the community, each community member is being considered as a joint co partner of the dialects project. But future partnerships may evolve right around universities, around larger companies. I we have a lot of requests right now of focuses finishing the development of the ecosystem, which is the dialects marketplace to make dialects computing, really self serviced and accessible for everyone. And then we take it from there.
Thank you very, very much. I must say I am actually also quite motivated, because when we talk about the endless possibilities of the dnx projects, now let’s look at the life a relaxed scenario of such as what happened on nba twenty, twenty, 21 during the and severe pandemic during the coronavirus.
Now we have such a system that could actually motivates all tests and actually find aaaa quick former school treatments. And that would have been very, very awesome. I would have want to so much losses. This is actually one of the magnificent motivations when it comes to your program, because it’s has so many potentials to actually sell even bigger than that gdp let me say that thank you very much. I will be going straight to the second section. I know my, although l bankers are highly motivated and are ready with their questions.
So if you have a question school or some guests today, or you want to know anything about dns project, all you have to do is raise up your hands.
And once you do that, I will select you. And as at the selection, i’ll give you the mic. And you get to ask one more questions. You would love that. Are you ready for us?
I’m ready. Awesome.
So let’s go randomly. I’ll be picking dog for creep to fox. To the moon. Please. I’m putting on your mind. Quickly ask the questions. Thank you very much.
Hello.
Am I wonderful? Hello. Hi. There am I so thank you. Can I ask my question?
Please go ahead. You have your question.
So in terms of scalability, how does thine explain to handle the increasing demand on this network on a while maintaining high performance?
Did you get that much? No, sure, I I got you. These are doctor peter fox. Send me at the end. Right now. Thank you very much. He said with the increasing, how do you guys are planning to skill with increasing and need for users on your platform? Or how do you still with the increasing and let’s say, yes, users on the platform while so you don’t get traffic or congestion. How do you guys plan to。
still there? Thank you very much.
Super question. By the way, they are very relevant. So basically, the goal is that probably have seen it on the road map before. I didn’t pointed out the specifically because I was focusing on the main points is we have basically a little vision. If, let’s say, 100 people customers submit jobs right to the platform, these jobs need to be distributed and scheduled between all these minors and gp us out there.
Now. What? If you look at it by this? It’s basically because it’s decentralized. A but it is defined technically as a multiple environment. So you have a minor coming and going, starting, restarting, upgrading, switching, on, switching off. So it’s not that you have a continuous, fixed and flat defined and diamond. But we have 10,000 gp us. And it just distributed works. It’s a little bit more challenging, right? Because you have miners coming and going.
Now, central system, which is handling all of that is called malawi, in short, in our platform. And my love is in a moment, we have decentralized end points, but it’s a centralized system. Why? Because we needed to get a lot of experience of how well does it work, right? And we started dialect salt with model in this on december 1st last year. And we reached a point where we say this is actually working pretty nicely. So we have parallel jobs sites. And sometimes you can see it that people customers are throwing in the first test problems that are being solved, et cetera. The system itself works really provide the scalability, which we require. Mallow also needs to be decentralized in his essence.
So it’s what you saw on the road map. It’s also big building blocks. It’s more on the back end. It’s not really visible for people. The model functionality is going to be embedded into the nodes. So basically, then we have for the entire system, right? From mining, block confirmations, shop scheduling, everything, decentralized and the more people participate, the more minors and the more nodes we have, the more power we can handle. That’s actually the beauty of decentralization because the sky is delivered.
Thank you very much. But I also answered doctor crystal box. I believe he has done justice to your question. Our next lucky, i’ll back it. I’ll be asked the question is going to drag on, drag on xxx one for x you can turn on your out on your mic and you can ask the question. Thank you. Hello, dragon, you can hear you. Please press the own news voting and at your first home guinea.
Okay, can you hear me now?
Closer please write on this.
So like I wasn’t prepared for this ame do because ii happened to just find my way into the group. Hello.
dragon, I used to there.
I hear you can hear me.
So I can hear you. Now please watch your. Okay.
so i’ve been listening to what are the representative of this project has been saying. I would say he has done a very good job explaining to us. But my problem is this like, what as what is the assurance of not dumping our bags on us, maybe by or decided to invest into this project? Because i’ve been a victim of pump and dump projects for the past couple of months long. So what are the assurance that you guys are assuring? Was that our monument just go into west?
So his question is actually acting what assurance would you keep on the l bank is that you wouldn’t be dumping the bag online. Then actually those that would love to buy a token on the album channel. So I think that’s the question. Thank you very much.
Yeah, valid question, obviously, because there is ai I can totally relate with what he has been saying. So basically, there’s a few points to consider here. First of all, he usually charge us by the work and effort we put in. Right? I you don’t find everyday team. I currently we have more than 25 people. It has been working for a number of years ago launching aa block chain project and being constantly delivering. I it doesn’t matter if it’s christmas. If it’s new year’s eve and people with a very active community, just go on this court, ask some of the early community members, because we have community members in there from day number one, ask them about the experience.
How do they perceive our actions? Because at the end of the day, we need to be charged by our, right. We have been so far, we have been working relentlessly on making this division, its success because it’s not about building something really quick or about making money or whatever project is about, changing something great impact on society.
And if you are still, obviously question marks, I think, charged by the customers. And we have already the first system or news out and there’s more to come. And then especially now with machine learning being launched, all these customers, they speak for themselves because if you have happy customers, and if you have a working system and a working ecosystem, then the risk of failing with your project is very much reduced.
Thank you very much, but that’s drag on. Please send me at the end. I’ll begin on a random person. Let’s do sabria and syrian. We actually 77. I don’t know. I really pronounce it. I’m premier and I will be turning on. You’re mike. So you could ask our awesome guest here your question. And once you were done, send me adm thank you very much.
You can’t see。
where you have the floor. Please. You you have floor. Hello.
sir. How are you today?
Hello.
So I have a question. What are benefits holding this token for long term investment? Can you tell you about motivation for investor to keep the the stock and for a long term? And what the step holder get passive income? Thank you.
Hopefully understand my question.
You gotta say it again over here. Clearly. I’m fairly and answer the question again. Please receive the question again.
So Kenny is about motivation for investors.
I think we lost you there. So I.
I think I understood what he meant.
Yeah.
so correctly if I’m wrong, but I think it’s about long term holding and what the risks are. I obviously, as dialects developers, we can never ever give price prediction that would not be serious. What I can tell you is we will be working day and nights until this mission becomes a reality. We have come a long way already. And we actually want long term holders, because as I said before, dialect is a bit. If they call it a super toddler, let’s call it a super toddler.
But we need time to grow up, right? We need the marketplace out there. We need customers out there, because a happy customer brings you three more customers. Right? We want to grow this healthy and organically and it takes time. But the chances are very high that we succeed. But this is not a get rich in one day kind of investment coin, right? This is like a real project, a real utility coin with a real world use case. These projects take a little bit of time they’re happening at crypto speed. I agree. But time is of the essence.
If I’m correct, you have asked three questions for a piece. So I’m picking on a person at random. I think, marvel, Malcolm seldom, but marvel or both. Come on, correct. Hello, Bob bill. I will turn on your mic. I can ask a question. And once you’re done, please send me at the end. Thank you very much.
I’ve actually been listening to all words have been discussed so far. I like the concept of the project, but one thing i’ve actually been going through been checking, I have not like seen any official links yet, as regards this project something more like a link tree where we could actually get the possible links of the communities and the official, which is regarding the project.
I think it would help user to the kids and connect with the projects properly. So I probably feel if this could be dropped, or if there is a place, we could actually get them. And you could tell us, I think that would be better.
Generally back then for your social media links, like the details or your website so that it can actually be good and interact with your probability. And you guys general, thank you.
I I’m posting this. We have a link tree, obviously, just posted, but it’s also always everybody to buy and people have we wanna make sure that other people visit our official outlets and the official channels. And there you will find everything on the social media channels, websites, white papers, and so on and so forth.
As our guest, just units say that you can actually all go to the community right now. You see the link treaty. You can join all the system of the platforms, follow comment, light. Also during the community on Top of high, let’s interact with the b and x project and to our last lucky user or last Nokia bank, i’ll be choosing a random. God said, hello, man, god, he said, so you can actually hold on your mind autonomous right now. You can see how to deformation and ask a question. Really? Thank you.
Hello, Alex.
you have I can hear you. Hello. Apart from airborne counter access.
the angular exchange in which dnx is listed or is only listed on air bank.
I think I I answered it straight away. So when we started the project, we listed it on tx bits. It’s also listed on trade, over its stress, traded on sex, on p to b now, the next listing is bit marked, and then after bit marks also already signed and seen the paid is a Top exchange, which we are not allowed to mention, because they announced only 2 days before real estate.
But there has been a lot of excitement in the community about that.
Thank you very much. And course, the dlx is listed on l bank. So if you wanna trade or you want to get a part of video, be a part of this project, or you want to hold for a long period of time, trust me, albeit remains the best choice for an exchange. Thank you very much. So to also get, if you have anything, you want to say, two are also community members, please. Can I just say it right now? Thank you.
Hello, I think. Would you like to say anything on the closing remarks。
closing up? Yeah. So first of all, biggie tips. Thank you so much for the great moderation really enjoyed it to all the participants here. Thank you for taking your time. I hope II was able to answer most of your questions in an understandable way. Obviously, to take people really interested in how the proof of useful work really works. There is another armor later today. You can find it on our channels, but we would be happy to have you involved. And remember, only together, we can re drive to change.
such and also motivational speech. I love the Ellen park.
So on this note, we be out by community with all that thing and to both the dinner community that for the 200 times to be a part, and maybe wanting this opportunity to thank you for fortune of an eventful, for being a certain awesome guest and taking time to answer our questions and satisfying our curiosity. We hope one day you go from being a super toddler, being a super, super Legend. So on this note, the old Albert community will love you this opportunity to thank you for being a part of this AMA and see you soon. So the committee members actually took out of time to be here. Thank you very much. I remain my awesome self figure that good day, good morning, good afternoon, good evening, depending wherever you are on. This also most on planets that have a lovely day. Thank you. Awesome.
Thank you.
Bye bye. Thank you very much. Thank you.
Click here to download for iOS or Android
Website: https://www.lbank.com/
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/
