VANTA Network AMA with Wolf Crypto

VANTA Network — A P2P Decentralised Network for Real-time, Secure and Private Connectivity.

We held an AMA with VANTA Network in our public Telegram channel on January 10th.

The VANTA Network is a decentralized and permissionless network that ensures real-time, secure and private connectivity. Through the VANTA Network, both individuals and corporations will be able to develop real-time data transmission services and commercialize those services at low costs. The VANTA Network will eventually aim to allow infinite connectivity among all devices regardless of location.

The VANTA Network’s aim is to allow individuals to create decentralized networks that perform real-time data transmissions as well as process and store that data by selecting intelligent peers, collaborating, and evaluating each other using the VANTA Network protocol and the consensus algorithm.

You can also visit the VANTA Network Telegram channel or VANTA Network website for further details.

Here’s what Founder & CEO of VANTA Network Ryan Seo, Technical Lead Adrian Park and Technical & Strategy Advisor Allie Zhang had to say in the AMA.*

*This AMA has been edited for clarity.

WC (Wolf Crypto Telegram Member)

Welcome to another edition of Wolf Crypto AMA, this time with VANTA Network!

Joining us from the VANTA team is Ryan Seo, Founder & CEO of VANTA Network, Adrian Park, VANTA’s Technical Lead and Allie Zhang, VANTA’s Technical & Strategy Advisor.

TEAM & TEAM GOALS

WC

To kick things off can you please tell us a bit about yourself and what lead you to being involved with the VANTA Network?

RS

Hi, Wolf Crypto and everyone. My name is Ryan, founder & CEO of VANTA Network.

I studied Computer Science at Yonsei University and have over 12 years experience in IT and telecommunication industry. After leaving Oracle, I founded Voiceloco, a software company specializing in telecommunications.

After all these experiences, I recognized the gap between technical development and its adoption of real-time technology due to the cost and limitations of centralized servers.

As a result, I decided to start VANTA Network to make both individuals and corporations to be able to develop real-time data transmission services and commercialize those services at low cost using P2P and blockchain technology.

AP

I’m Adrian Park and a technical lead of VANTA network. I received a Master’s Degree in Computer Science from Seoul National University. After graduation, I joined SK Planet as a Data Scientist, and led projects in areas such as large-scale and real-time data processing & visualization.

Then I joined Voiceloco. I’ve been interested in developing programs and making daily life easier with tech from my teenage days so when I was 14, I founded Gamedetect communications, Korea’s very first search engine designed for games.

AZ

Hey everyone, I’m an advisor with VANTA, helping out on strategy and tech direction. Currently I advise several crypto funds and projects, and publish project reports on blepcoin.com. Prior to crypto I was a full stack software engineer at several startups.

WC

What is your elevator pitch for VANTA and what do you aim to achieve?

RS

VANTA is a decentralized and permission-less network that ensures real-time, secure, and private connectivity. VANTA will allow individuals and corporates to create decentralized networks that perform real-time data transmissions as well as process and store that data by selecting peers, collaborating, and evaluating each other using the VANTA Network Protocol and its consensus algorithm.

Our goal is to create a practical/useful blockchain that will greatly contribute to improving the daily lives of individuals and operations of enterprises businesses.

WC

VANTA Network has a very large team, can you go into more detail regarding key members background and how you’ve managed to build such a large team?

RS

Our VANTA team consists of highly qualified, experienced, and knowledgeable industry professionals. Martin Jung, our data scientist, received Master’s Degree in Information & Data Science, Big data at UC Berkeley and MBA from Carnegie Mellon University.

Martin also has over 14 years of experience in database and data analytics from Oracle, Teradata and AWS. Next, Professor Inwhee Joe, leading the Hanyang University VANTA research lab, acquired a Ph.D. in Electrical and Computer Engineering from Georgia Institute of Technology.

While preparing this project, we made a significant effort to organize a team from global corporations and academia. With our team members’ experiences and educational backgrounds, we attempt bring mass adoption of the VANTA Network via partnerships with global enterprises and startups.

VANTA Network Executive Team

WC

Yoonseok Choi from Microsoft Korea is listed as a advisor, can you explain the relationship and what is he actually doing on the project?

RS

As a VP of Microsoft Korea, Mr.Choi is helping us by bridging the gap between Microsoft’s Infrastructure and VANTA’s technology. With sales in the SMB market in mind, he is working closely with us to expand the ecosystem together. You can also learn more about the partnership with Microsoft below.

WC

Changnam Choi, the main director of Oracle is also listed, can you also explain this relationship and how he is involved in VANTA?

RS

As Oracle’s JAPAC Regional head, Mr.Choi, as well, is introducing VANTA’s technology to Oracle’s enterprise customer network, facilitating access of VANTA’s service to Oracle’s clients. For more information about Oracle, please refer to the recent announcement below.

WC

How many developers are working on the project? Will any further recruitment be necessary to deliver the project?

RS

Our VANTA team consists of 30 members in total, and there are 21 developers. Depending on the progress of the project, we will continue to recruit the necessary team members.

VANTA Network Core Team

THE VANTA NETWORK

WC

Vanta is mentioning five use cases in which VANTA can be used. All of those use cases are pretty big in their own rights. How are you going to make people come to your platform?

AP

We mentioned five different use cases but all the use cases are fundamentally based on real-time networking technology. So as we provide the solution for real-time networking, VANTA will be able to support all of those use cases.

Supporting stability and scalability are important when it comes to real-time networking and we have core tech related to it. And VANTA also has cryptoeconomics that can attract service developers and service users.

VANTA Network Use Cases

WC

What are the pros for using VANTA as opposed to YouTube or various other content providers?

RS

People love to watch/upload video and streaming content on platforms such as YouTube and Twitch. However, users have to rely on the central server.

It is possible that the main server may shut down as it occurred on October 17th 2018 with YouTube. This is one of the significant problems with centralized server.

The biggest difference is that, we are not a dApp, but a platform on which people are able to build applications like YouTube, Google Hangouts, Skype, etc.

WC

You are releasing a dApp though? The decentralized version of Voiceloco?

RS

We will develop some of these dApps and use-cases in-house. Ciao is just one of the use-cases of VANTA.

WC

Can you please explain what exactly PoN-VRBFT is?

AP

VANTA has designed an algorithm called Proof of Networking that allows each node to contribute to real-time data transmission, processing in the network competitively. Conventional consensus algorithms wasted too much computing power to prove work or only be combined to prove equity, and it was not suitable for VANTA.

We combined our Proof of Networking with the existing BFT and VRF (Verifiable Random Function) to make our unique consensus algorithm.

VANTA Network Consensus Algorithm

WC

Can you please explain what the four layers to the VANTA Network are what will they achieve?

AP

We designed an architecture optimized for real-time data to create its own platform ecosystem and also can be applied as a module to other platforms. The bottom layer is a ‘blockchain layer’ and it’s based on PoN-VRBFT consensus algorithm to allow each node to participate in block generation competitively.

There is also a ‘core layer’, which is the core module of the ARKAS protocol, implements the functions that a node performs in the network.

The ARKAS protocol layer enables nodes to build the intelligent network. The top layer is an ‘API components’ which can help developers to build services on VANTA.

VANTA Network Architecture

WC

How does staking work on VANTA? Is this just for businesses or can individuals stake tokens to receive rewards? If possible for individuals how many tokens are needed to stake and what are the rewards?

RS

For business purposes, dApp developers are able to stake for securing the net/resources needed to provide the services they require.

Individuals can participate as a worker node for the purpose of receiving incentive, which also requires a certain amount of staking, and the incentive will be provided according to their computing power and network resources required to process the job.

WC

How do nodes work on the platform? What are the node requirements and rewards for running a node?

AP

Participating nodes can be divided into job trackers, worker nodes, or verifier nodes, depending on their roles in the network and all nodes that have performed some workloads can participate in block generation and receive block generation rewards in proportion to their total work values.

To participate as a node, staking specific amount of VNT’s is needed depending on their roles.

How Jobs Are Assigned/Completed on the VANTA Network

WC

What process would a node running on the VANTA Network be used for?

RS

Simply installing the VANTA core client on your own computer or mobile device or installing applications developed on the VANTA API will allow you to participate as an worker node or verifier node.

WC

Is there mining on the VANTA Network?

AP

Nodes can get the opportunity to participate in the block generation consensus round by submitting proofs that they took part in real-time networking tasks.

Except for staking VNTs, There is no requirement. All the devices can participate in and contribute to the VANTA network regardless of their computing power and network bandwidths.

COMPETITORS

WC

Who are the main competitors to VANTA?

RS

Every project has different goals and its own pursuing points.

In this point of view, VANTA doesn’t define specific competitors and we believe it’s more meaningful to have our own clear goals and try to achieve them.

WC

How does VANTA differ from the likes of Mainframe, Skrumble Network, Status etc?

RS

Those projects you mentioned are focused on providing specific services either data transmission, storage, communication app and messenger app.

On the other hand, VANTA is a project that allows peer-to-peer connected devices to exchange all kinds of data efficiently with security with each others.

WC

Does VANTA see Fantom as a competitor?

RS

Fantom is currently focusing on real-time payments while VANTA emphasizes real-time, secure, and private connectivity.

TOKEN UTILITY

WC

What are the specific use cases of the VNT token?

RS

VNT tokens can be used for staking by developers and users to provide dApp services. Also a node should stake a certain amount of VNT tokens to participate as a worker node in the VANTA network and get rewarded for their contribution.

WC

How do fee’s on the platform work and how will VANTA produce a substantial income stream?

RS

VANTA basically doesn’t charge to use the network. However, when developers want to develop and operate services based on VANTA must stake VNTs in order to use the VANTA API.

VANTA generates a 2% fee for this, and the entire fee is immediately burned.

The nodes participating in the VANTA network are compensated according to their role and contribution. As more and more peers join the network, the value of the VNT will increase and eventually the network will evolve into an ecosystem for the benefit of all participants in the VANTA.

To add more, when the developers decide to unstake, there would be a 2% fee. However, the fee is burned. As more and more peers join the network, the value of the VNT will increase and eventually the network will evolve into an ecosystem for the benefit of all participants in the VANTA.

VANTA Network Cryptoeconomics

WC

How does this tie into new tokens being minted annually? Whats the reason for that and how many per year?

RS

To control inflation efficiently, we will issue new tokens for mining reward determined by a fixed rate of 2 percent and variable rate based on the number of tokens burnt in the previous year.

VNT Token Velocity

ROADMAP, BETA & FUTURE GROWTH

WC

Do you have any publicly available demo’s?

RS

Yes, Ciao is available and please refer to the demos below.

VANTA Network Video Streaming Demo
VANTA Network Gaming Demo

WC

When do you expect to launch your testnet and mainnet?

RS

We will launch our testnet on the second quarter of this year.

At the end of third quarter, we will finally launch our mainnet. We expect the roadmap to be carried out on schedule without any problems.

WC

Can you provide a brief overview of your roadmap and go to market strategy?

RS

Up until now, we have accomplished all our roadmap releases without any delays or setbacks.

We have just released our whitepaper. We are currently developing the ARKAS protocol. We will launch our testnet on the second quarter of this year.

At the end of the third quarter, we will finally launch our mainnet. In order to expand VANTA’s ecosystem, we are planning a strategy to incubate dApps that uses business for cloud market and API.

VANTA Network Roadmap

WC

Can you describe the business development strategy in a little detail? How will VANTA acquire enterprise clients?

RS

Enterprise and startups customers are also able to use VANTA’s APIs via the marketplaces provided by Oracle, Microsoft, and etc. For more information, please refer to the article below.

PARTNERSHIPS

WC

Can you please go into detail regarding your partnerships with Microsoft and Oracle?

RS

First of all, VANTA will be working with Microsoft Korea to add VANTA connectivity to Microsoft Teams included with Microsoft Office 365.

This will allow enterprises using Microsoft Teams to easily connect inbound/outbound calls through VANTA’s decentralized network.

South Korea will be the first region supported by the integration. Our goal is to make privacy, decentralization, and reliability available to all 200,000 organizations already using Microsoft Teams.

Secondly, VANTA will be promoting and selling innovative VANTA services to a variety of enterprise customers around the world by joining the Oracle Partner Network.

VANTA Services such as UCaaS and APIs will be available in Oracle Cloud Marketplace soon.

WC

What is the relationship with Sejong Telecom and Hanyang University and how will they be utilizing VANTA?

RS

Sejong Telecom is a Korea’s #4 carrier. They are planning new blockchain business with VANTA. For instance, we are trying to integrate our VANTA wallet/account with the regular calls for mass adoption.

WC

How do you view the differences between the Korean crypto scene and the Western scene?

RS

These days, we are able to share cryptocurrency news and resources across the globe via media channels.

Therefore, we believe there is no significant discrepancy between the Korean and the Western crypto scene.

We love good technology, team, and vision.

IEO & TOKEN SUPPLY

WC

Which exchange will your IEO be hosted on and can you give any details to future exchanges VANTA plans to list on?

RS

There are some exchanges that are currently being discussed and confirmed.

VANTA Network is scheduled to conduct an IEO next week. Details of the IEO will be released on Friday, January 11th.

Please stay tuned in the announcement channel.

WC

What was the cheapest token price possible? What was the highest bonus possible and when were these rounds raised?

RS

$0.00088 USD is the token price, and the highest bonus is 15% for all private invetors.

WC

Were there any “seed rounds”?

AZ

There we no seed rounds. 15% bonus is the highest for all rounds. We designed this short lockup/uniform bonus structure to avoid dumping pressure.

WC

What’s your strategy to keep token prices from dumping as evident for most new tokens lately?

RS

Firstly, there has been no significant bonuses, and the lock-up period is low. There is no significant incentives for investors to sell their tokens. Not to mention, the Arkas protocol will be available by March.

WC

What happens to unsold tokens?

AZ

Unsold tokens are burned.

WC

What are the highest BTC/ETH pegs at earlier round raises? And what’s the peg for the IEO?

RS

The BTC/ETH pegging price is based on the timestamp the contributor has sent.

WC

Do you expect the IEO to sell out?

RS

Most IEOs only from Korea in the past 4 weeks have been fully raised, up to 5m USD.

VANTA Network Token Metrics

CLOSING THOUGHTS

WC

Thank you the VANTA Network team for answering our questions today. If there are no other questions we’ll leave it here for today.

RS

Thank you to the Wolf Crypto beloved community members.

AP

Thank you guys, appreciate the great AMA.

AZ

Thanks everyone for participating!! We appreciate the interest and curiosity.

WC

If you’d like to know more about the VANTA Network or we’ve missed a question, you can join their Telegram group here.

VANTA Network Resources

Website: https://vanta.network/
Telegram: https://t.me/vantanetwork
Telegram ANN: https://t.me/vanta_network
Medium: https://medium.com/@vantanetwork
Whitepaper: https://vanta.network/doc/VANTA_White_Paper.pdf

Wolf Crypto Resources

Public Group: https://t.me/WolfCryptoPub
News Channel: https://t.me/WolfCryptoAnnounce
Twitter: https://twitter.com/WolfCryptoGroup

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