Ecoball AMA
The first Ecoball AMA session was conducted in Ecoball telegram group: https://t.me/EcoBallChain​Date: 2021/12/16
Host: Henry
Guest: Thomas

Selected Questions

Please introduce yourself.
Hello everyone, thanks for joining this event and giving us a chance to talk with you. I am Thomas Hoo, the co-founder from Ecoball, I’m an engineer and have been working on blockchain projects for since 2016. I own many patents from blockchain structures and processes and used all my technical background on Ecoball. It’s a pleasure to have you all here and have the support of people from so many places in the world!
Question 1 ( from @Am6265): What are the advantages and disadvantages of ECO when compared with other public chain like ETH,BNB and SOL and what’s your plan to beat them in the future?
Ecoball was born as a result of academic research carried out by university professors and researchers, they saw limitations in other blockchain networks that could prevent them from advancing in the long term, so in terms of advantage, we can mention speed, when compared to ETH, BSC, TEZOS, etc, each transaction on the Ecoball network lasts on average approximately 1 second, which makes it one of the fastest networks in the world.When it comes to scalability it was also designed based on slower and less elastic networks, as it can process 100k TPS, in comparison the Ethereum network processes around 15 TPS. Now imagine this combined with high security, Cross-chain, and a good consensus algorithm. Makes Ecoball one of the most promising networks in the world.If the subject is disadvantages, it is not easy to say, we could say here that because it is based on VPoS, we need a good user base to achieve network consensus and make it resilient, but even that is not a disadvantage, as it is highly scalable if more users use the network it automatically becomes more resilient.
Question 2 (from @edibontot17): STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?
Yes, in our project plan there is the staking platform as one of the important points to maintain the stimulus and interest by investors in the ECO currency, the staking option was available right at the beginning, when we started the testnet operations because of how the transaction validation algorithm is the VPoS, there must be validators in the network.Now on Mainnet, this option will soon be open as well, and deposits of at least 1000 ECOs will be accepted.To access our staking platform visit: https://scan.ecoball.org/validators
Question 3 (from @ZacharyMarshall): Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Of course! We are aware there are many investors here that don’t have English as their first language, and we believe that blockchain has to be inclusive as a technology so it needs to reach everyone. Due to that reason we plan to make an ambassador program to have representatives of our chain in different countries, if you are interested please stay tuned to our community channels for details.
Question 4 (from @LashundaFigueroa) Scaling is a pain point that failed to solve even big Blockchainchain like Ethereum. How Ecoball can solve it or What steps will you take to solve Scaling problem?
The pain-points are actually more than scaling. Its what we call the blockchain trilemma, a term coined by Ethereum co-founder as he acknowledged that it is impossible to achieve decentralization, security, and scalability without sacrificing one of the three.Some argue it is nearly impossible to achieve all three at the same time. Others are already working on other solutions. Ecoball is a solution to solve these issues that are present in our market. Our solution can scale because it has good speed, good architecture, low fees and easy adoption. So we believe we are solving these pain points.
Question 5 (from @olufemee) Judging by the ongoing presale of $ECO, it's obvious there's not much awareness about Ecoball Chain right now, even though i personally believe in the long term vission. What are the measures being put in place by the team to drive mass adoption of the project?
Our team has spent the last 5 years working on Ecoball, and during this period we had to invest a lot in the product development. Not only money but a lot of time and effort from the team. We spent a lot of money to develop the project, actually more than we planned, due to that reason we now are doing funding so we can push our marketing a level higher. The investment to develop a project like Ecoball is no joke, so we are also opening new investing rounds for our projects and we will be able to reach out more users and more people. We believe we already have the right product, now its only the need to reach out to people so they can know about it. I also would like to thank everyone that is here supporting us, inviting friends and giving us support. For a team like ours to compete with big projects with millionaire funds behind them its not going to be easy, but that is the main point. To be decentralized we can’t be at the hands of few investors like Solana for example, we need to be a project from the people. And that is why our approach to promotion and everything else is different, and our resources as well.
Question 6 ([email protected]) How can developers & technical people contribute to Ecoball and How do you make plan to get them involved?
We welcome any developers from Ethereum and other chains to join us and change the future. Soon we will have programs to support the development of projects using the Ecoball platform. Right now we already have many projects under development, so stay tuned!
Question 7 (from @WallyCintron) What use cases or challenges are you trying to solve?What is the next goal of Ecoball?
As mentioned before, the Ecoball blockchain project was born out of a lot of research and effort, it was born out of people who took the time of their lives to understand what blockchain means and how it can change our lives in many ways, so it was taken into account. problems of existing blockchains, so the big challenge it tries to solve is this, to solve the great blockchain trilemma, namely, that systems based on Blockchain can only have two of the three properties: security, decentralization, and scalability. So Ecoball was born to solve all of them, and it does this through the VPoS authorithm linked to an efficient DAO, it invites the user to participate in the network and makes him one of the elements that form the pillar that solves the blockchain trilemma, because each HOLDER, in addition to being an investor, it is a node that provides resources to provide security and consensus to the network, this makes it fast because as many knows, participation proof algorithm is much faster and more economical than working proof.In terms of the next goals, we have this very clear. All of you now have immense power in your hands, from the moment you bought your ECO coins, you started to actively contribute to the Ecoball network, so all this power will be used to provide an enabling environment for real-time and high-power applications answer, so our goal now is to implement a good environment for projects based on GameFi, decentralized exchanges, Metaverse, among other applications, we know that it all depends on the community, but Ecoball Foundation is already preparing an incentive program for projects to be implemented on the network, stay tuned that we will soon bring you more information about this.

Open Questions

Do you already have a date for the ECO Coin listing plan?
We notice many investors concern about our listing plan. Rest assured, we are working hard with many parties to get listed on top-tier exchanges (yes, with a 's'), including CEX and DEX. For now we are not gonna release an exact date, but it is very close! stay tuned and please participate actively in our community! your participation will definitely help to convince the big exchanges!
It is the heterogeneous state of the different blockchain network that inspired polkadot plans for blockchain interoperability, is ecoball going to be interoperable with other Blockchains or is this already in place?
YES!! This is extremely important as one of our target is to make Ecoball interoperable (fast and secure), for now we have EcoBridge to connect BSC (as pre-sale participant experience), and soon we will release connection with other blockchains including Ethereum and Polygon and many more.In the longer run we have plan to develope solutions such as layer 2 to increase capability.

Additional Picks

(@tiste1991) Is your project only for elite investors, what about others with small funds, is it open to everyone?
It is open to anyone. In fact, we want people with small funds be able to join us, therefore we set the pre-sale price at $0.06, lower than early elite investors’ purchasing cost. The rationale is the small participants not get dumped by large investors, and large investors can wait a little longer for greater value as project making progress.
(@lanitabreaux1998) While you build your project, do you take into account community feedbacks and demands? While you build your project, do you take into account community feedbacks and demands?
In early stage of our project, we were a group of IT guys focused on product and ignored our community – it came back on us at great cost that the project was near death. Thankfully we made it through with support from our early community participants.We learn from the past, now we sincerely appreciate our engaging community, and value the voice of our community most. We will always listen to you guys and adjust accordingly. Please feel free to interact with us via telegram, twitter, etc.
(@JamiRyan92) Which one of these aspects is important for you? 1-Increasing Token Price & Value 2-Empowering Platform Development 3-Building Community Trust 4-Expanding Partnership Globally In what order?
These are all important goals. But just to make it simple, at the current stage, we go for 4-3-2-1.Putting token price/value in the last place because having 2,3,4 done will lead to 1.And to further expand community and empower platform development, we need professional experience and resources from strong partners, therefore having global partnership comes first to us.
(@euggins3) IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell?
We have been through a serious bear market (2018-2020), but we didn’t dump anything quit working on the project, because we are true blockchain believers, that’s the premise.We understand the importance of having a backup plan when bear market comes, our choice is to have the Ecoball Foundation reserve funds to support the project in hard times.
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