Q: What can I use CCN tokens for?
A: You can use CCN tokens to buy or sell computing power, or to buy or sell cloud-based apps, programs, and services. It is the native currency of the network and is generally used for transaction purposes, as well as for rewards to those that help improve the ComputeCoin network.
Q: How much energy approximately would a computer use running ComputeCoin to solve cloud computing tasks?
A: Running the ComputeCoin client on a computer would not cost extra energy for any cloud processing tasks. Now, given that our software can mine multiple cryptocurrencies simultaneously when no cloud computing tasks are available, it is safe to assume that during taskless periods it can use a little more power than usual. Due to this dynamic, power usage may fluctuate depending on numerous factors, but under normal circumstances shouldn’t substantially exceed that of conventional mining software.
Q: You mentioned patents for your technology, are you the only such project who has secured a patent?
A: Other projects may also have patents, but we currently have secured 2 patents for the most important aspects in this field. The first is for “Methods and Apparatus for Performing Distributed Computing using Blockchain”, and the second is for “Methods and Apparatus for Verifying Processing Results and/or Taking Corrective Actions in Response to A Detected Invalid Result”. Our patented Proof-of-Honesty algorithm is the first to solve a problem that otherwise made the process of decentralized and distributed cloud computing impossible, and this is how we stand out from and stay ahead of other projects.
Q: How much room for competition do you think there is in the decentralized cloud computing marketplace?
A: Due to the growing need for cloud computing services, and the benefits that decentralized cloud computing services offer, we believe that there is a lot of room for competition at the present, and further growth in the future as end-users shift from centralized systems to decentralized ones. Currently, there are quite a number of other projects in this field, but our work encompasses broader aspects of the metaverse such as storage power trading and seamless connectivity between various users and/or applications.
Q: If an end-user buys cloud computing from ComputeCoin for illegal activities, would the providers be at any risk?
A: No, in such cases, if illegal activities are detected, all penalties will go to the end-user and not the providers. Providers only commit their hardware and provide the computing power, and thus, take no responsibility for any activities using the hardware.
Q: Are web-based apps on your platform subscription-based, single purchases, or Both?
A: This would depend on the type of product being offered; certain products sell better as single-purchases, whereas, for others, a subscription model would be more suitable. It ultimately comes down to the developer of said software.
Q: Will I be able to stake my CCN tokens?
A: Yes, staking is planned in order to help stabilize the token price for long-term growth, and the release schedule for this feature will depend on market interest rate fluctuations until the total release is complete. We have planned to allocate 5% of the token’s supply for staking.
Q: Does ComputeCoin take any fees on transactions? If so, how much?
A: Yes, ComputeCoin will be taking fees on the following actions/transactions: Rental purchases of computing power, custody fees for the listing of computers on the platform, and lastly transaction fees in our DeFi system. The fee rates have not yet been determined but will be announced upon doing so.
Q: Does ComputeCoin have a foundation?
A: Yes, ComputeCoin has a foundation to support our research team comprised of members from various universities and research centers that are committed to publishing academic papers to make a positive impact on the community and establish the standards for our domain. We believe that our research can positively impact various fields of study, and inspire innovations in multiple industries.
Q: How safe is ComputeCoin?
A: The ComputeCoin network is very safe thanks to our cutting-edge security solutions that protect Meta power providers. In fact, this very technology is currently employed by a variety of major enterprises, including Ant Group and China UnionPay, among others. Furthermore, our AG-based blockchain with Turing-complete smart contracts and patented Proof-of-Honesty consensus algorithm play crucial roles in verifying the authenticity and detecting fraud.
Q: Is it easy to develop software for ComputeCoin? What programming languages are supported?
A: We encourage developers to join and build for the ComputeCoin ecosystem in all the different layers of the network. The first layer of ComputeCoin is an EVM-compatible DAG-based mainnet that supports Solidity development. It’s easy for Ethereum smart contract developers to build Dapps on ComputeCoin or migrate existing Dapps from Ethereum to our network. More advanced languages will be supported after we implement the WASM virtual machine on ComputeCoin. Essentially, the ComputeCoin network is a geographically distributed computing platform, which has a very sophisticated architecture that runs dedicated consensus and scheduling algorithms. We will build a middle layer to conceal these details and provide APIs to the high-layer developers. On top of that, devs can use their favorite languages to develop applications for the ComputeCoin ecosystem, just as they develop on their local machines.
Q: Do you think there are other solutions to the problem that the Proof-of-Honesty consensus algorithm solves?
A: We think that other solutions may run into the trouble of centralization, and as a result, may not be able to present their product as a decentralized cloud computing marketplace. Our patented Proof-of-Honesty algorithm encourages clients to play an active role in phishing detection, and thus it secures the network and builds trust in the community while remaining decentralized.
Q: Since ComputeCoin has begun turning its attention to the metaverse, is it possible to see a collaboration one day with another network or project?
A: Yes! Cross-chain technology enables integration with multiple computing networks in a massive decentralized computing ecosystem. We have already announced an exclusive partnership with Swarm, and are aiming to partner up with decentralized networks like Chia, Filecoin, as well as IDCs.
Q: How fast is the ComputeCoin network?
A: The ComputeCoin network is actually very fast; its high throughput, low latency, and full decentralization allow it to reach over 20,000 transactions per second! To put that into perspective, Ethereum can currently handle only 15 to 25 TPS (transactions per second), and Bitcoin can currently handle only 7 TPS on average. 20,000 TPS is on the higher end of what current blockchains can offer, and only a handful of networks can handle significantly more.
Q: Laptops are not recommended for mining because they can get hot, but how much trouble would they have solving cloud-related tasks?
A: Since our software is designed to mine multiple cryptocurrencies simultaneously, it is generally not recommended to use devices with poor cooling design for that specific function, as it can result in overheating. Laptops, like all products, vary in design; some have great cooling, others don’t. Most mid-range laptops nowadays have in-built thermal sensors that can be used to monitor the heat while running mining or task-solving software. To summarize, this is a matter that differs from device to device, and while laptops have chipsets designed to endure higher levels of heat, a test run is recommended to see how your specific device handles tasks and mining. Otherwise, if you are looking for creating and managing cloud-related tasks, you can do so on almost any device.