Congratulations! The public beta of Bill Code is officially openning!
The AMA has been successfully held. Below is the real-time record:
【AMA Record】
Host: Bill Code is a high security, high-performance, high expansion distributed storage network developed by the Blockchain Research Center of BlockLAB , which is a collaboration of University of California, Dell, IBM and other technology giants.
It redefines POC logic and belongs to a blockchain project with significant innovation in algorithm and incentive consensus. According to the official news, Bill Code will be launched on the test network in the near future. You must have been looking forward to the launch of Bill Code for a long time, but there will unavoidably be more or less problems .
In order to solve your doubts, we invite Mr. JP Miller Jr, founder of Bill Code, to share a simple project with you. Let‘s welcome!
Q1 Host: Mr. JP Miller Jr, pls introduce Bill Code to us at first?
JP Miller Jr: Thank you for your enthusiasm and welcome to join us.
Personally, I am a fan of cryptography. Bill Code is also a project developed under the inspiration of Beale ciphers. We hope to protect the storage security of data and information in the way of cryptography.
By using the local hard disk of the node as a consensus participant, any user can freely, fairly and impartially participate in the co-construction of the storage network. And build a perfect ecological application system based on the information security storage consensus.
Q2 Host: What problem has Bill Code solved?
JP Miller Jr: Bill Code is a distributed storage network with high security, performance and expansion. It introduces data exchange mechanism and second transfer mechanism to improve data transmission speed and storage efficiency.
A point-to-point distributed storage system is realized through blockchain technology, which divides files into multiple fragments.
They are stored on different nodes of the network, and they will be spliced automatically when it needed to restore the files. Combined with cryptography security encryption logic, the implementation project of blockchain technology enabling entity application is realized. So as to solve the problem of global data privacy protection and data security storage.
Q3 Host: We know that there are many well-known projects in the market. Compared with them, what are the main advantages of Bill Code?
JP Miller Jr: Bill Code is a visionary on the shoulders of giants. Bill Code has many advantages. Here I will give you a brief introduction from three aspects:
Firstly, As we all know, there are many problems such as high energy consumption when using POW algorithm in bitcoin and other projects; the CPOC treasure hunting mechanism created by Bill Code only needs idle hard disk to participate in treasure hunting. It has the advantages of low access threshold, energy saving and environmental protection.Most of the existing projects in the market have the pain point of centralized mining, which is not friendly to the retail investors.
Too concentrated computing power will make the opportunity of retail investors to be blocked by the capital market; however, there is no such problem in Bill Code treasure hunting. Bill treasure seekers can enjoy a “fair, open and transparent” treasure hunting environment in the official treasure pool. The threshold of large-scale cluster participation is the same as that of individual participation, and the P disk speed and configuration are all the same. At the same time, Bill Code will also have a super long bonus period to test treasure hunting, giving all treasure seekers the opportunity to realize common value feedback.
Secondly! In addition, it has to be said that Bill Code has a unique economic model: Bill Code will continue to promote the development of the project, and through the parallel mode of CPOC conditional capacity prove treasure hunt and liquidity treasure hunt. Under the premise of no private placement, no lock, no airdrop and no additional issuance, Bill Code will reduce the entry threshold of the project and realize the real treasure hunt for everyone.
Thirdly, we will try our best to use technical means to improve the upgrade of public chain system. Users don’t need to redraw, they just need to upgrade the treasure search program to automatically switch the main network, so as to avoid wasting the time and cost of drawing.
In short, early users who participate in the project testing do not need to worry about the uncertainty of the configuration conditions of the main network, which leads to a wait-and-see attitude during the testing period, thus causing the loss of opportunities.
Q4 Host: It is said that Bill Code has many investors. Is it true?
JP Miller Jr: There is no private placement for Bill Code project, but it has attracted many investors currently, such as Michael-Susan-Dell_Foundation\LiftFinal\ social-finance \IBM and so on. We try to make them participate in Bill Code project in other forms.
For example, the official BILL mine we built is provided with infrastructure by Dell company, and the technical operation and maintenance is in the charge of IBM company. Host, please allow me to advertise for our partners Dell company and IBM company here. Dell’s storage equipment and IBM company’s technical operation are really great. I hope that the partners who participate in treasure hunting in the future can consider their company’s products and services.
Q5 Host: How many technicians are there in Bill Code team and where are they from?
JP Miller Jr: The main body of our team is currently in the United States, with a core team of about thirty people. The Bill Code project itself is mainly researched and developed by BlockLAB Research Center, which is jointly established by world-class technology giants Dell and IBM. Therefore, most of us are coming from there.
In addition to the core team, BlockLAB Research Center has a deep cooperation with the University of California. Presently at Bill Code, many researchers from universities and all sectors of society have participated in the project with different capacities. I can meet new faces in the office almost every day!
Q6 Host: I heard that you are very familiar with the heavy guys such as Vitalik Buterin in encryption circle. Do they have any cooperation with this project?
JP Miller Jr: We don’t know each other emotionally, but we share a common belief.At the beginning of the establishment of the Bill Code, it received much attention of many experts of blockchain technology such as Vitalik Buterin.
Vitalik Buterin should be the person who is the most concerned about Bill Code in the European blockchain industry. As a matter of fact, my team and I have met with all kinds of great person in various technical seminars, but we haven’t met deeply before. When the Bill Code project was founded, a lot of technology experts were concerned and helped us solve some technical problems. This is a cool thing.
Q7 Host: What are the advantages of Bill Code compared with traditional hard disk mining projects?
JP Miller Jr: There is no private investment of BILL CODE and also haven’t any locking. Compared with traditional hard disk mining projects, BILL fundamentally eliminates the risk of private capital trading after going online.
BILL’s own closed-loop economic model can promote the sustainable and stable development of Bill Code without raising funds. What we need is not a digital currency controlled by capital, and it is a decentralized application project that everyone participates in and jointly promotes.
Through the means of corresponding technical, the test network will try its best to ensure that the parameters of the command line are consistent with those of the main network, so as to avoid the loss of decision-making and investment to the participants.
Q8 Host: Now where is BILL community mainly distributed?
JP Miller Jr: At present, our official communities are mainly concentrated in North America and Europe.
But there have been many spontaneous communities in the United States alone as far as I know,. I have also joined several communities, and I always have a good chat in the community.
Currently, our community in the Asia Pacific region has also improved. In fact, for a long time, we found that the blockchain investors here were very cautious about Bill Code. We often received some negative feedback from the community in the Asia Pacific region. However, with the finalization of the online time of the project, the scale of the community is expanding rapidly, and everything is developing in a better direction. We have noticed that there are many people in Russia who are very interested in Bill Code. They seem to be quite powerful, but they are not interested in building regional communities.
Q9 Host: When can we start the Bill Code treasure hunt?
JP Miller Jr: Your question should be when the Bill Code treasure hunt project will be officially launched. We will launch the Bill Code test network in the near future. Please give priority to the official announcement. Since it is only at the beginning of the test, there must be some deficiencies from software to ecology. After the test, the whole project will go online at the first time, which means that BILL treasure hunt is officially opened.
If your have any opinions and suggestions, pls send them to below email: billproject@outlook.com. We are looking forward to building a perfect Bill Code ecosystem with you.
Q10 Host: Just now you said that Bill Code has a treasure hunt test. What kind of form does the treasure hunt test start with?
In order to ensure the normal operation of the main network, we have opened and designed a basic model based on the spirit of POW proof, which is called the test incentive treasure mechanism. The 100 day test network, with a total amount of 25 million Bill Test tokens, is a feedback to the early project testers. After the main network is opened, the treasure explored (Bill Test) can be exchanged for BILL at the ratio of 25:1 on the official website.
Q11 Host: How to get Bill?
JP Miller Jr: Actually, there are several stages to dig Bill Code’s treasure, and there are also different treasure pools to choose from.In short, the first step of Bill Code is to test treasure hunting. At this stage, treasure seekers can dig out Bill Test. As I mentioned just now, after the project is officially launched, Bill Test will be converted into BILL in the test incentive treasure pool through the smart contract at a ratio of 25:1. After treasure hunting is officially opened, Bill Code will be divided into two parts:CPoC conditional capacity proof treasure pool and liquidity treasure pool.
Treasure seekers can choose one or two of them to participate in treasure hunting according to their actual situation. In addition, in order to continuously encourage treasure hunters to participate in the Bill Code project, the liquidity treasure hunt is also related to the lucky block treasure pool. The lucky block treasure pool is used to reward treasure seekers who have made significant contributions to the liquidity treasure pool.
We believe that when Bill Code treasure hunt becomes a blockchain project that everyone participates in, it will be a good opportunity for people to participate in. The constant reward of lucky block treasure pool will become an important driving force for the project to move forward.
Q12 Host: As you say, the threshold for participating in treasure hunting will be very high, right? What kind of computer configuration does Bill Code need to find treasure?
JP Miller Jr: Compared with other projects, the threshold for participating in Bill Code project is lower. At present, most PC can realize treasure hunting. In the test, we found that there is little difference in the speed of treasure hunting between PC and professional mining machines, only the difference in quantity. Therefore, as long as there is a computer, everyone can participate in the Bill Code treasure hunting.
Q13 Host: Can you dig BILL’s treasure after participating in Bill Test treasure hunt?
JP Miller Jr: Sure. Bill Test is originally the product of BILL’s treasure hunt test. After the treasure hunt test, the BILL obtained can be converted into BILL’s treasure on the official website, and BILL’s treasure hunt will be officially opened. As mentioned earlier, if we participate in the test treasure hunt of Bill Test, we will try our best to ensure the operation convenience of treasure seekers at the technical level. According to the feedback from the technical personnel, at that time, treasure seekers will not need to reset the P-disk or change the configuration, but only need to upgrade the software to link to the main network for treasure hunt.
Q14 Host: What is the plan of Bill Code for the future?
JP Miller Jr: Bill Code aims to serve the network transmission and storage security in the era of Web 3.0. Through the incentive mechanism of decentralized algorithm market, it can more quickly lay out and build a secure encrypted distributed storage network infrastructure, and solve the problems of global data privacy protection and data secure storage. I believe that we will eventually build a perfect ecological application system based on the consensus of information security storage. My sharing is over.
Host: Thanks for all of you, and sincerely thanks again to Mr. JP Miller Jr for joining us in the community to discuss the Bill Code treasure hunt project. I believe our users have a clearer understanding of Bill Code after participating in today’s community Q & A. Let’s look forward to the bright future of Bill Code!
Official website：http://Billcpoc.com
Twitter: https://twitter.com/BillCode3
Official group (English): https://0.plus/billcode_official
