Q1: Can you briefly introduce yourself as well as the Findora ?
My name is Lily Chao. I am the founder of Findora. I am a young entrepreneur and investor active in Silicon Valley and Asia Pacific Rim. – I have a track record of investing in early stage businesses both in the US and in China. always seek to disrupt and improve legacy businesses, as opposed to following their lead. I view myself as an original thinker, along with the late John Powers, we devised the strategic and product vision of Findora Foundation. With one foot in Silicon Valley and another in the broader Asia-Pacific rim, I am proud that I see the ways technology can create real world solutions across all corners of the globe.
Findora is a globally trusted financial infrastructure, owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Findora was created to enable the creation of financial services that are transparently operated while preserving user and institutional privacy. Created by a team of Stanford academics and entrepreneurs, including John Powers, former CEO of Stanford’s USD $25 billion endowment fund, Findora will be accessible to anyone in the world, whether individuals, small and medium enterprises, or industry giants. Our team has extensive collaboration with leading cryptographers in the world and our comprehensive cryptography library includes implementation of state of the art Zero Knowledge Proofs such as Plonk, Bulletproofs an Supersonic. For more information, visit www.findora.org.
Q2: We can see Findora is in the testnet, so when will it be fully released? On Findora you can ‘Create secret assets’ what it actually means?
Our testnet, named Forge, has been live since January and we have had thousands of community enthusiasts and enterprise users. A lot of people tested, tried and built applications on it already. It will be fully released in a couple of weeks to open public. On Forge, you can create, issue and transfer “secret assets” — confidential crypto asstes. In the very near future, we will also release a series of audit tools such as confidebtial asset tracer, proof of solvency, proof of accreditation, range proof and more
Create secret asset – you can simply creat a monero or zcash on us without the hassle buidling a blockchain. And the secret assets support smart contracts – while zcash and monero don’t . This is the short answer
along with the zero knowledge empowered tools, such secret assets can be configured as any real world assets that can be used for real financial transactions.
Q3: According to some information Findora is not built as an Ethereum smart contract, so how do you join the DEFI space when you are not ETHEREUM? When the product ‘Private DeFi Application’? And also explain what technology you use when keeping privacy on DEFI
In my personal view, DEFI is what blockchain about and in the future, people will only care about the DEFI applications themselves, rather than the underlying chain. But now, Defi is all about Defi on ETHEREUM and/or ERC20 tokens. Findora participates in the Defi in two ways: 1. Findora provides ZK Rollup and confidential transaction capability to the existing Defi apps on ETHEREUM as that Defi apps running on Ethereum can be better: faster, cheaper and can realize a lot more features otherwise impossible without confidentiality; 2. Findora is based on cross chain and verifiable computation technology, any Ethereum based assets can atomically transfer, transact on Findora. We can provide scalability and cost advantage to apps built directly on us.
Private Defi applications include a series of new defi products including Dark Pool Dex (allow secret large ticket crypto transaction), confidential FX pool (that can allow confidential cross-border money transfer), just to name a few. We will realse soon with mainnet launch.
The technology we use to build privacy preserving defi incudes Bulletproofs, Darker compiler, Supersonic, Plonk, advanced cryptogrphy signatures and more. The Zei cryptography library that Findora built is one of the most advanced and comprehensive crypto lib in the world.
Q4: In the beginning as a cryptocurrency project the adoption of tokens on the platform is important to increasing token value so in the future when launching tokens you will apply it to the circumstances. What use?add an existing question has some tokenmetrics? Or some planning and token sale?
The first step is a good tokenomics design and a forward-thinking token distribution and unlocking strategy: we have designed a good economic model (with help from several renowned economists) that fully aligns the interest of token holder, developer, validator and networ users. The token is the ultmate source of the network utility and we have a lot of ways to increase the utility and intrinsic value. For instance, we designed the deflationary burning mechanics in the trx fees. We designed many use cases where you have to lock and stake large amounts of Findora tokens for ming, application building and premium features.
In the sense of initial distribution, our strategy is to distribute the tokens evenly and fairly across jurisdictions, demographics and profiles of holders. We try our best to distribute to community members, rather than only focusing on institutions. Our private holders have a long locking period and are encouraged to participate in staking and validation activities.
Findora is committed to a privacy-protecting project. One question I want to know is how does the project protect the privacy of its users? In other words, how do you convince users that you will not or cannot “monitor” their privacy?
First, Findora is decentralized in the sense that no single party can manipulate and censor the nwtwork transactions. Second, unlike the most transparent blcokchains on today’s market such as Bitcoin and Ethereum, there are no transaction data at all on Findora blockchain —- this sounds strange right? Let me try to explain: Findora is a zero knowledge blockchain. The Findora blockchain nodes process and verify the zero knowledge proofs of the actual transactions. These proofs are secretive, so that no nodes and 3rd party can read into the content. Because no actual transaction data on chain, users’ data privacy is fully protected. If you transfer 100 dollar on Findora to your friend via confidential transfer, no one can see this transaction through a block explorer.
So to answer the question directly, not just Findora, literally no one can monitor a confidential transaction on Findora without users’ permission.
End of AMA Summary, Thanks Findora project for trusting and organizing AMA with us !!
- More detail social:
? Website: https://findora.org/
? Whitepaper: https://bit.ly/34YkWjE
? Twitter: https://twitter.com/findoraofficial/
? Medium: https://medium.com/findorafoundation
? Reddit: https://www.reddit.com/user/Findora-Foundation
? Instagram: https://www.instagram.com/findorafoundation/
? Telegram Announcement: https://t.me/findorafoundation