On January 16, 2023, For Metas hosted an in-depth AMA at the HashBit community. HashBit Blockchain is a highly scalable peer-to-peer digital currency that enables industry-leading transaction speeds with negligible fees. This AMA allows hashbit users to have a deeper understanding of the entire platform of For Metas and Gloryland, an upcoming game.
Welcome to hashbit community! A very vibrant one for sure
Lets start with the introduction. Personal introduction and also what is 4metas and what it entails.
A little bit about myself, I’ve been in the crypto space since 2017. And behind the For Metas project is my team, our team was born with a mission to create a leading web3 application ecosystem and has many blockchain and game partnerships and communities in East and Southeast Asia, such as COCOS-BCX, LINK3, EthereumFair, Mail3 and sure, Hash Bit as well. You can check in our discord channel #partnerships under LEARN FOR METAS IN MINS.
Team members of For Metas have been working in the entertainment industry for years, covering the space of games, movies, and high tech companies. For Metas has also received millions of funds in its seed round from well-known individual & institutional investors, we will disclose the detailed information at a certain stage. This investment will enable For Metas to develop and grow while adding more valuable changes to the entertainment industry across a longer time expectancy.
Great! the team have alot of experience.
To our next question:
For metas is a Web 3 gaming dapps. What does it offer different from other gaming app?Am sure they are alot of things that you offer.
Well. That’s a good question. The content on For Metas platform is quite unique. We are the first one to integrate games, live streaming, social, Metaverse,AR/VR, and other features probably in the coming future.
Then nobody is building an aggregated web3 application like we do. If you find yourself dividing your time between your computer, your games console, your streaming application and your stereo. Then For Metas is definitely a place for you to go, all the best dapps for you to have fun let out your steam while having a chance to earn.
So coming to the earning part, most people might be interested in, you know, most gamefi projects. They have a really short life circle, and it’s more like a game of “Pass the Parcel”, needing constant inflow of users and funds to support the survival of the game. Though the traditional game with a millions downloads can suffer from this short-life problem and is kinda inevitable. In For Meta’s case, we’ll launch and incubate 10–20 games, and this means platform users can constantly have new experiences and we also solve the above problem by injecting vitality through new ones.
What’s more, even For Metas NFTs is recyclable, It allows users to use a single asset across the “borders” between multiple games. That is to say, one game asset can be used in another game, even across categories. In contrast with other NFTs that quickly lose its value after the “death”of the game, For Metas NFTs have the potential to preserve or even appreciate in value.
Wow I like your way of approach. You team is great! Then we move to next question.
Most of our members just knew that you have established a partnership with Hashbit blockchain. Can you share more details about the partnership?
HashBit is a highly scalable peer-to-peer digital currency that enables industry-leading transaction speeds with negligible fees. And For Metas is building an aggregated application platform that provides a seamless and engaging entertainment experience for users. Our goal is to build a one-stop hub for users to gain access to various entertainment resources including but not limited to blockchain games, live streaming, social Dapp, metaverse and AR/VR within one platform in a fast, secured, permissionless, incentivized and decentralized way.
We aim to bring together specialists from many sectors to create Web3-native entertainment ecosystem! Gaming, streaming, and virtual life.Create, listen to, watch, and play many forms of entertainment with us under the core tokenomics of $4MW.
To achieve this, we need a strong partner and community. We think HashBit is a very nice project and satisfies these conditions very well. We will discuss more cooperation possibilities in the future.
Great. Hashbit blockchain scalability is unmatched. We are happy big companies like For metas actually noticed it. Then I am a big fan of games. What games do you offer for us gamers? And also share details about rewards.
We mentioned before that we will launch around 10 games on For Metas a year. And they are different kinds.
For example, we are super happy to announce our first game, Glory Land, is going to launch soon. Actually, our team has been working almost entirely on this game for a long time. Glory Land is a classic mobile IDLE game with stunning artistic beauty.
As for the gameplay, there are two battling modes: PVE and PVP. As mentioned above, players can also choose to skip battle, but a challenge roll is required. Apart from the main gameplay, players can also farm $4MW tokens with their NFTs. That means players can earn passive income even without playing the game.If you are a social person, you might also join the guild family by searching for other guilds or establishing their guild. Within the guild, you can exchange resources, such as sharing game tips and trading and exchanging heroes.
And I know most of you guys might be interested in how to play to earn. So in Glory Land, you can participate in the PVP and PVE battle, and earn NFT in the game process which can be used to synthesize mystery boxes and then sell in the marketplace for profit.
Another great way to earn is by staking your NFT card. The amount of rewards you get depends on the tier of your NFTs. The higher tier NFT means more reward, also, by utilizing the upgrading system and players can earn higher staking income. In addition, in the game, the top players on the heroes list split up the individual and guild pools worth tens of thousands of dollars respectively.
That is mean you can earn NFT for selling from the game. And the NFT can be traded or mine $4mw as well.
You can get $4MW by NFT Mining. Apart from this, there is no more output of $4MW from any game under any circumstances. So there are only 2 ways to get $4MW. One is holding NFT to join NFT Mining, and the other is buying $4MW tokens on pancake or other market. So the price of $4MW will be easier to pump up because there is no massive selling off.
A lot of good ideas. Passive income. And also good for gamers.
What is the expected day for HBiT intergration?
Even this is not sure that but we believe it is coming soon.
Will there be a Chinese version? Is there a Chinese group in this project?
Yes there is Chinese version of Gloryland. Regarding the chat group, there are some volunteers in discord and they share the WeChat group there. I think you can find and join them
Is 4metas going to integrate their systems as part of the partnership with hashbit to boast the nft & gaming platform
As we mentioned earlier, we will have more and more in-depth cooperation with Hashbit. But it is still in the confidential stage, so stay tuned.
Is this testing limited to R card holders? If yes,how do one hold R card
Yes. Only R card user or above can join the testing. For the R card, there are 2 ways to get. One is join our activities to win and the other is buying the mystery boxes with 10usdt
My question you know maybe we call it the bull market, but when it’s difficulties, i mean when next we experience bear market dose the project have enough funds to push marketing, because a lot of dev usually abandon their project when it’s hardship, so are you guys going to stay for long and fight the bear market?
Our team has more than 5 years of experience in the cryptocurrency industry, so we have experienced many bull and bear markets and understand how to operate under such circumstances.
—ABGA “Blockchain Gaming Awards Ceremony 2022” was successfully held
On January 17, 2023, the “Blockchain Gaming Awards Ceremony 2022 ” hosted by Asia Blockchain Gaming Alliance (ABGA) was successfully held.
ABGA “Blockchain Gaming Awards Ceremony 2022” is one of the most comprehensive awards event hosted by ABGA. It aims to build a highly professional influence in the blockchain industry in Asia and worldwide. The first ABGA “Blockchain Gaming Awards Ceremony 2022” fully guaranteed the authority of the selection results with a substantial expert jury and a complete evaluation mechanism including the community voting process. ABGA “Blockchain Gaming Awards Ceremony 2022” set up 8 categories of awards, and they are Most Influential Blockchain Games, Most Influential Comprehensive Projects, Most Influential Crypto Media, Most Influential Investment Institutions, Most Promising Game Projects, Most Popular Game Projects, Most Popular NFT Projects, and Most Popular Web3 Communities. All these awards are set to recognize and encourage industry institutions and practitioners who are bravely building with innovation and pioneering in this industry.
The final winners for the ABGA “Blockchain Gaming Awards Ceremony 2022” were officially announced on the afternoon of January 17. Representatives from each award category gave their acceptance speeches and 2023 Roadmap at the awards ceremony.
The ceremony’s three most blockbuster awards are: Most Popular Game Projects, Most Popular NFT Projects and Most Popular Web3 Communities. Candidate that competed for the awards were selected by registering on the ABGA website or nominating by the community.
From January1st to 13th, ABGA received more than 20,000 votes from web3 communities, and the final winners for the three awards were determined by the voting results on January 13th.
Here are the Top 20 projects from each mentioned category that prevailed in the competitive voting (In no particular order)：
TOP 20 for Most Popular Game Projects：
Defina, Tap Fantasy, Gameta, Guild of Guardians, Drunk Robots, Upland, X World Games, Big Time, The Next World, Evermoon, MMMM(Make Music, Make Mess), Orbit Meta, Owlando, Era7: Game of Truth, MEEET, FOTA, Galaxy Blitz, Mirror World, Sakura Planet, MetaToyCity
Moledao, METAERA, Treasure Dao, Guildfi, YGG SEA, Avocado Guild, IndiGG, Everland DAO, Pro Gamer DAO, Force Community, Kommunitas, Nova Global, GStar, Assure, GrowthBoom, DeGame, Club Salad, Galaxy Blitz, Melody, DGG Network
In addition to the three most popular awards, the event also featured five significant awards: Most Influential Blockchain Games, Most Influential Comprehensive Projects, Most Influential Crypto Media, Most Influential Investment Institutions and Most Promising Game Projects. The nomination of the above awards was based on publicly available data throughout 2022 and the recommendation from one of ABGA’s Diamond or Platinum Members. Winners were evaluated by a panel of professional judges through many criteria.
Here are the top teams from each category (In no particular order)：
TOP 20 for Most Influential Blockchain Games
Axie Infinity, Gala Games, StepN, Mobox, Star Atlas, Aavegotchi, Defi Kingdoms, Alien Worlds, Gods Unchained, Splinterlands, League of Kingdoms, Tiny World, Thetan Arena, Era7:Game of Truth, Tap Fantasy, Ultimate Champions, Illuvium, Benji Bananas, The Sandbox, Big Time
TOP 20 for Most Influential Comprehensive Projects
X Rush, Mythic Protocol, Fantaverse, Seeds, Atlantis, Klaydice, Iskra, The Beacon, Honor World, WebCityClub
Congratulations to all the winners in the ABGA “Blockchain Gaming Awards Ceremony 2022”! In 2023, ABGA will keep promoting the further development in blockchain gaming!
ABGA, known as Asia Blockchain Gaming Alliance, is an ecological alliance established by leading institutions in the global blockchain industry. Through various online and offline activities and the latest industry analysis and discussion, ABGA’s members are combined to discover, invest and incubate potential projects to promote the vigorous development of blockchain games. Since establishment, ABGA has recruited more than 100 members and has covered more than 100K users.
On February 3, 2022, Wormhole, one of the largest bridges between blockchains and the main bridge connecting Ethereum and Solana, was hacked and 120,000 ETH, about 3.2 One hundred million U.S. dollars.
Since the birth of DeFi, it has been accompanied by countless risks. Although the value of many DeFi projects has been explosively doubling, hacking incidents have also intensified. According to Rekt data, there will be 161 hacking incidents in the DeFi field in 2021, with losses as high as US$1.86 billion, a year-on-year increase of nearly 1,000%. Financial security issues such as malicious cheating series of supervisory nodes and hacker attacks cannot be ignored.
JUAN is a decentralized finance (DeFi) platform initiated by IPFS Mining DAO, which provides a next-generation financial model and allows users to conduct more secure financial interactions on the blockchain.
As the leading project of DeFi 3.0, it is completely different from the previous decentralized financial platforms. Its self-developed Alloy 3 technology has enhanced the regulatory rules of the protocol and brought a new breakthrough in DID+P2P technology for transaction security. The “ZKP zero-knowledge proof” and “multi-signature” technologies included in Alloy 3 greatly enhance the security of smart contracts. When conducting a transaction, the loan contract wallet requires two of the three parties to provide private key authorization to call the contract. According to the smart contract rules, it would require all 10 custodian nodes to collude with the borrower, assuming common cheating or fraud, and the probability of this happening is almost zero.
JUNE not only has a solid technical implementation plan, but also has a keen market insight and a mature operating strategy. In JUAN, users can interact directly, which means that no human intervention is required, making financial interactions more robust and efficient.
It is believed that JUNE will create a financial system that is truly owned by users, rather than being built, operated and controlled by a few large technology companies, to create a solid foundation for WEB3. An era that belongs to JUNE!
On January 13, 2023, For Metas hosted a very in-depth AMA at the Crypto Sphere community from India. This AMA allows more new users to have a deeper understanding of the entire platform of For Metas and Gloryland, an upcoming game.
Before the start of the AMA, let me briefly introduce the process of today’s AMA. The AMA today will be having 3 segments:
The Guest will introduce the project for you in a very common way , and later The Host and The Guest will go through some questions and answers
2) Twitter Questions
Five selected questions from Twitter along with link will be pasted in telegram group
3) Telegram Quiz
For Metas questions, the user who answers correctly the fastest will be rewarded with an R card
TWYY is the first innovative project developed with WEB 3.0 Internet technology created by the Singapore MG Foundation in 2023, which is run by community autonomy. TWYY takes financial contract as the link and combines online and offline, which is a cryptofinancial currency for web3.0 distributed business. This project invests 6 million US dollars, the total circulation of TWYY is 100 million, the issue price is 0.1 USDT / piece, including 3% pool; 4% private placement, 1% foundation; 92% gold standard finance (contract lock) output.
TWYY promotes global promotion by recruiting private equity members, senior partners and super partners. Combined with the high-quality attributes of TWYY and the traffic system of each community, TWYY will shine in 2023, so that all communities and partners will make full profits in the operation of TWYY.
Project party in the late technology application scenarios, with TWYY family can pay by TWYY global, free trading on the decentralized exchange move brick arbitrage, also can chain more destructive mining currency and a key currency TWYY for all players to provide intelligent butler services not only application in the chain can also be applied in daily life, truly TWYY in hand, wealth I have intelligent life.
TWYY will be officially launched in January 2023, at the same time we will open a comprehensive financial planning, suction powder drainage for the community, for in February overseas fund acquisition instructions fully prepared, and overseas community to build TWYY project, the well-known media at home and abroad, make a series of brand promotion for TWYY pull TWYY changhong all the way. After the completion of the above rules, the project side will carry out a large-scale global road show in the community. Officially bring into the WEB 3.0 wealth new wave in 2023! New opportunities!
In the report, it presents its insights on 2022 NFT landscape and showcase trending NFT projects in 2022.
NFTs have been one of the most dynamic and prominent parts of Web3 over the last two years. NFTs saw explosive growth in 2021, but this growth hasn’t been consistent and has leveled off so far in 2022. We will describe the NFT market in 2022 from the scale of NFT addresses, user activities, and collections.
The epidemic has changed the way most of the world’s inhabitants socialize and entertain themselves. Many offline events have been moved online, such as graduation ceremonies on Animal Crossing, political meetings on Twitch, and concerts on Fortnite, and people have started to “keep social distance.” The home economy has given rise to the rapid expansion of encryption, gaming, live streaming, and other industries. People’s desire for real experiences is gradually decreasing, and the demand and imagination for virtual worlds are gradually increasing, and virtual worlds are bringing people more novel experiences.
Over the past decade, entertainment has radically transformed from offline activities to online services akin to social networks on the scale of consumer technology companies. Today’s entertainment is also driving innovation across the consumer ecosystem through new approaches to engagement, retention, and monetization. In the next century, Web3 will play a key role in defining the way we socialize, play, and work.
For Metas is building an aggregated application platform that provides a seamless and engaging entertainment experience for users. Users can gain access to various entertainment resources including but not limited to blockchain games, live streaming, social Dapp, metaverse and AR/VR within one platform in a fast, secured, permissionless, incentivized and decentralized way. For Metas is about to launch the platform’s first blockchain game Glory Land, so what is the difference between For Metas and other application platforms?
User-friendly, lower threshold
Web3.0 practitioners are constantly pushing the boundaries, and terms such as 「Gamefi」, 「Metaverse」 and 「Decentralized social networking」 are gradually entering the eyes of the public. We have also witnessed several iterations of the technology of the times
At the very beginning, the game was very simple and could not even be called a game, and a large number of projects were capital pools cloaked in game shells, with only simple pledge staking and mining functions. It was difficult to bring a long-term game experience to users, and they needed to pay a high cost to enter and it was not friendly to Web 3.0 newbie users at all.
Then, the application scenario was expanded, such as social attributes, users can interact with each other in the game competition with certain playability. However, most of the project did not achieve economic and game sustainability, and have fallen flat under the impact of the micro-environment. At this time the entry threshold is still very high. Traditional games are generally free, only occasionally need to top up, and it does not affect the smoothness and integrity of the entire game. In Web3, many games have a high threshold, which to a certain extent limits the entry of new players and seriously interferes with the user’s game experience.
In contrast, For Metas attracts more players by integrating the Web2 portal and lowering the entry barrier. In For Metas, users can experience the platform application through email. It’s not mandatory for new users to register web3.0 wallets, top up cryptocurrency, and have a series of other complicated processes. And this has largely reduced the entry barrier for web2 players to transit to web3 ones, For Metas aims to let users use the blockchain technology-based applications without perceptions. The ways users register, log in, and use the applications are quite similar to those of Web 2.0. And for web3.0-native residents, For Metas also provides the choice of withdrawing the tokens and NFTs and making them on-chain.
Then, For Metas embraces Free to Play, most crypto games are Pay to Play models that require players to pay first to play and buy high priced NFTs. This will turn away many players in the early days. For Metas have given away a number of Free Mint opportunities, even if users do not have advanced NFT, they can still enter the game, participate in the combat and get certain rewards. This gives free users the opportunity to get achievements by playing the game, experience the basic gameplay and thus step into the role of a paying player. Overall though the higher the level the greater the investment required, players can choose the right level according to their ability to pay, rather than needing to invest money blindly at the beginning when they have not yet experienced the game.
Applicatio and entertainment kingdom
The real solution to acquiring and retaining users is to build a platform that delivers innovative and interesting web3 applications, such as applications with interactivity, recyclability, attractive visuals and vibrant social elements.
As an example, For Metas believes that traditional game developers may have an easier time mastering game design with experience than web3 native founders. Traditional gamers don’t care about issues like NFT and game asset ownership. Users want to experience interesting games and gain some self-fulfillment in the process. Blockchain games also need interesting gameplay and a smooth entry experience which can attract traditional game users.
Such as the upcoming game Glory Land requires users to improve their strategy and skills. As an IDLE game, it has a wealth of built-in gameplay, including cultivating, cards, strategy, etc. Some players have a low learning curve, and some have a high learning curve. By satisfying users with different skill levels, we give players a sense of satisfaction and the opportunity to obtain NFTs of different values. With this division of users, players do not feel like they are doing repetitive and unnecessary work but get the thrill of nurturing, which greatly motivates the activity and retention of users.
In terms of game characters and design, Glory Land includes seven different factions, each with restrictions, weaknesses, and strengths against the others. The different factions determine the hero’s attributes, equipment, and stunts, and the player needs to consider the hero’s formation in each combat to improve the probability of winning.
There are various types of quests and activities in Glory Land. Each task will come with different rewards, and players can also choose to join different teams to cooperate. In the Campaign, players will advance gradually with the level, but it has a certain degree of difficulty at a later stage, and the corresponding rewards also get richer. Players can receive tasks after joining different guilds and get NFT, personal BUFF, and other bonus rewards.
In addition, For Metas also fundamentally changes the pricing and appreciation logic of the game NFT by introducing the card synthesis system, the auto-battle system, the staking system, etc. For Metas further enhance the durability of the game and make it break through the boundary by providing richer application scenarios.
Glory Land is only the first step for the game segment. Every year For Metas will launch and incubate 10–20 games, solving the problems of short life span and NFT value scrapping of a single game by injecting vitality through new ones. Even traditional games with 10 million downloads that can last six months are already a good product, so blockchain games also have a life cycle that is unavoidable. But in For Metas, users can experience new games constantly, and with the increase in time spent using the platform, the marginal cost drops greatly without a drop in revenue, fundamentally solving the problem that most p2e applications are not strong enough and need new players to support their operations at a later stage. For Metas by contrast, creates a virtuous and recyclable positive economic system.
In addition to the game module, For Metas will launch live streaming, social, AR/VR, and other features in the coming future. Henry Maine once said, “The movement of the progressive societies has hitherto been a movement from Status to Contract.. “ The Web 3.0 decentralized network returns ownership of data to the user, who only needs a DID to navigate through different social networks and application platforms. The networks established by users (e.g., games, metaverse) are associated with the decentralized social graph, which brings richer application scenarios and business value. In For Metas, users do not need to open multiple applications tabs, repeatedly switch between each other. Instead, it provides a fast, secure, user-owned, and incentivized solution with a variety of web 3.0 “sought-after” applications.
Interoperability and Fluidity
While traditional games such as Fortnite give users access to skins from third-party IPs like Marvel, Star Wars, and other co-branded games, Roblox players have avatars that can be used in any module built on the platform.
NFT is recyclable, as is the transaction infrastructure used in most of the applications in For Meta. It allows users to use a single asset across the “borders” between multiple games. That is to say, one game asset can be used in another game, even across categories. The application scenarios for a particular NFT are potentially unlimited in For Metas because the identity of the buyer is not limited to the in-game character.
This expands the application scenarios and future value-add for users’ virtual assets. Unlike other application platforms with multiple parallel offerings of assets, where there is a break in mobility for both assets and users, For Metas assets can cross between different applications and interact with the environment and in-app items, enabling internal empowerment.
Internal circulation, virtuous economy
The combination between the design of a complex application and the financial system is not a simple “1+1=2” escalation, but an exponential increase in difficulty. In the early days of Gamefi, designing a level, together with NFT and token, and then performing player numerical growth and validation resulted in a significant increase in complexity.
So far, most projects rely on “external circulation” survival, where players produce tokens with NFT and then swap to get stablecoins. In this case, it is facing sell pressure from both investors, token holders and players. It may accelerate the death of the game without distinguishing between investors and players.
Constant market buzz and newcomers are a must to support the interests of veterans. However, the life cycle of this mode is very short; “sell-off,” or the “death spiral,” accurately describes the problem. Once the system sustains a net value outflow, it’s like Pandora’s box of leveraged plunges with a currency multiplier effect. In For Metas, on the other hand, NFT is used as a vehicle of value, carrying discounted cash flow. The life cycle is expanded by using NFTs as both tools and outputs.
In the For Metas ecosystem, there are two main underlying financial value carriers, the platform token $4MW and NFTs.
$4MW is the fuel that drives the For metas ecosystem and the only medium for Dapp usage, consumption, and rewards. For example, $4MW is used for in-game spending, equipment purchases, upgrade consumption, etc.
NFTs are application assets in For Metas with the following features:
-Limited time and limited quantity offerings
-Users use NFTs to produce NFTs
-NFT can be staked to mine $4MW
To summarize, players need to consume $4MW to upgrade NFT and stake NFT to get $4MW. Players can also trade NFT to make profits. In this model, the token consumption brought about by NFT upgrading is active. The tokens consumed are reflected in the value increase of NFT, and in turn, players can get more tokens by staking NFT or selling NFT at a higher price in the secondary market to cash out. For Metas adopts the model of NFT yielding instead of traditional token yielding. This economic model results in internal circulation between players, requiring no new players to maintain the “inflationary” model.
For example, in the upcoming game Glory Land, players enter the game by free-mint or paid-mint NFT hero card. Then consume $4MW during the leveling process to obtain NFT fractions to synthesize mystery boxes, which can be sold on the secondary market for profits. Some cards have mineable attributes; players can choose to stake directly or upgrade the cards by consuming the specified cards to obtain higher staking income and level up in the game faster. Players can directly list and sell both the synthesized mystery box and the upgraded NFT card trading market on the website. It is worth mentioning that the For Metas can be used for secondary scenarios. For instance, a specific NFT can be used across different games launched, giving it the dimension of collection value and future value-added.
Redistribution and incentives
The majority of cryptocurrency projects make money by selling large amounts of tokens. If the team has a large number of unlocked tokens at an early stage, it is a whale and is easier to flee and profit. In For Metas’s case, 80% of the total supply is in circulation, and the liquidity is locked.
The redistribution is where the platform’s revenue comes from. Platform revenue will only be generated if users spend money on the platform. Hence, users and the platform share more skin in the game. Metas can be viewed as an infrastructure operator rather than a developer, delivering the product before closing the payment and departing. For Metas only builds a good infrastructure and operates it with care, there will be citizen use and continued revenue.
Similarly, in the redistribution model, a large amount of agreed-upon revenue also flows to the users. It is undoubtedly unfair if the project team takes a large amount of revenue and an influx of funds, instead of distributing the revenue to the platform users.
It’s similar to a company: the agreed income is the net profit of the company, and the net profit is necessarily distributed to all shareholders. As a result, the platform, as a founder, benefits from share appreciation and tends to make the cake bigger rather than increase its share of the cake.
In For Metas, the platform income is redistributed to the users through the guild rewards, staking rewards, invitation rewards, etc. A large part of the tokens consumed on the platform also go directly into the burning pool. This distribution rate and mode directly extend the life cycle of the platform, and the users also get better incentives and positive feedback.
Most projects bring an infinite hyperinflationary model by way of token output. In For Metas, all outputs are fixed, and most of the players’ assets are NFT; players swap tokens into fixed assets, reducing the high uncertainty of tokens that are cyclically consumed in multiple applications and achieving horizontal and vertical liquidity.
In the Web3 space, there are teams working on different applications such as Gamefi, Socialfi, Metaverse, etc., and For Metas is building a completely innovative integrated application platform. For Metas, revolutionizing the way web3 applications are built by encouraging a network with interoperability, composability, and scalability that leads to a self-sustaining and self-reinforcing flywheel through exquisite design and the introduction of different business logics.
1, No super technical background is required, everyone can use it
2, with top encryption method
3, Available for audit by financial institutions
Its purpose is mainly to solve the pain points of slow cryptocurrency transactions, no privacy due to transaction broadcasting of all details, and imperfect and difficult-to-operate other privacy protection tools on the market.
Iron Fish does this by creating a new cryptocurrency called Iron. Users can operate nodes, mine, and trade. The specific information can only be viewed after the owner discloses the view key
Provide incentives for contributing behavior. Different points can be obtained for different actions. After the mainnet is launched, IRON tokens can be shared in equal proportions with these points (note that the currently tradable iron in the market is a stable currency, which is easy to confuse). Those who get the highest points for each item can get an additional Iron Fish NFT. At present, the test network is relatively active, with users operating every minute. Official Twitter calls its testnet one of the largest in the world.
The company was founded during the COVID-19 epidemic in 2020, based on the frequent electronic transactions and the lack of privacy protection. IronFish got its name from World War II. In the Indian encrypted information system used by the US military, Ironfish means submarine. The founder believes that Ironfish can protect the network security in the cyber world just like a submarine protects the people in war, which is quite tender.
The website design style is clear and concise but not shabby. Blue, pink, and white are the main colors. The pattern has the feeling of Robinhood, and the logo is more memorable.
The company’s social media (brand twitter, CEO’s personal twitter) and website are all close to the people and highly interactive.
In addition, there are detailed instructions on how to download IronFish on the testnet and conduct currency transfer tests (the level of detail is similar to the github installation tutorial, and even the homebrew installation method is covered), and each block is clearly listed here: https: //explorer.ironfish.network/explorer
I grew up in Russia. From 2011 to 2014, I studied computer science at Virginia Polytechnic Institute and State University, a public university. I live in Fairfax, Virginia, near DC, with a strong high-tech atmosphere. Elena has worked at Airbnb, Tilt, Microsoft. It can be found on Elena’s LinkedIn page that her third-year intern boss highly praised her ability to make decisions, leadership and appeal, and her non-stop learning ability. Elena is also a member of the 2022 Forbes “30 Under 30” list in the financial sector. In addition, Elena in high school won the National Council for Women in Information Technology Award for Aspirations in Computing competition and was invited to the White House.
From 2009 to 2013, he majored in computer science at the University of Nebraska-Lincoln, a public university, and wrote a custom stock program during college. Joined IronFish in September 2020 and worked at Uber and Microsoft. It is worth mentioning that he and Elena interned at Microsoft at the same time and place in 2012. It is speculated that he and Elena met during the internship, and it has been 10 years since then.
From 2008 to 2010, he studied computer science at State College of Florida-Manatee-Sarasota, a public university. His main job was writing games when he graduated. Joined in September 2020 and used to work at Uber.
Canadian, studied philosophy at Mount Allison University in Canada from 2008 to 2012.
Software engineer Rohan Jadvani (https://www.linkedin.com/in/rohanjadvani/) joined in June 2021 and has worked at Citadel and Snap. From 2013 to 2017, he studied electrical engineering at Carnegie Mellon University. He often served as a teaching assistant for general computer studies. He studied in a public high school before.
The concept of privacy coins or anonymous coins has undergone many iterations and updates in the cryptocurrency market. From the early Zcash, Monero, to the later Grin, Beam, and the recently publicized Iron Fish project, they all try to combine privacy and privacy. The property of anonymity is directly given to the native token of the blockchain network.
The Iron Fish project believes that a privacy-focused platform is worth exploring, so in addition to supporting the features of previous generations of privacy coins, they will also focus on accessibility. Their protocol architecture design will start from the network layer, allowing users to achieve point-to-point network connections in browsers, through WebRTC and WebSockets transmission protocols. The Iron Fish project will not only provide the basic functions of privacy coins, but also hope to explore the potential possibilities of privacy coins from other aspects such as user experience, ease of use, and accessibility.
Iron Fish is currently in public beta, and anyone can run a full Iron Fish node. Funding information has also been made public, with $5.3 million raised from angel investors and institutions including Electric Capital (Avichal Garg), Elad Gil, Metastable (Naval Ravikant and Lucas Ryan), A Capital (Kartik Talwar), Slow Ventures (Jill Carlson), Dylan Field (Figma), John Lilly, Jack Abraham (Atomic), Juan Benet (Filecoin), Jack Chou, Balaji Srinivasan, Lemniscap (Roderik van der Graaf), James Prestwich and Linda Xie.
However, there are still many details of the project that have not been disclosed, such as the specific consensus algorithm, token economics design, etc., and can only wait for the team to make it public later.
Iron Fish name origin:
The team stated that Iron Fish was named after the submarine code used by the “Navajo Nation” codebreakers during World War II, which is a metaphor for the protection and defense capabilities of encryption technology.
According to Wikipedia, the Navajo ethnic group has its own language, Navajo, which has no written language and can only be passed on orally. Its composition is quite complicated, and almost no one from outsiders can understand it. Therefore, in the Pacific War, it was used as a password for clear code calls, so that the Japanese army could not crack the US code, and it was not cracked until the end of World War II. In the Navajo language, “submarine” can be directly translated as “iron fish”.
The Iron Fish team said, “We chose this name because it can demonstrate the power of cryptography, a complex modern concept can be described in relatively simple words, and it has two tradable commodities in its name: iron and fish .”
Iron Fish core technology:
Zero-knowledge proof, Sapling, WebRTC
Unlike some privacy coin projects (such as Zcash), all transactions in Iron Fish are encrypted transactions, which means that users do not need to disclose any information to any third party.
In order to achieve this function, Iron Fish chose zero-knowledge proof technology in terms of privacy technology, especially influenced by the Sapling (sapling) technology invented by Zcash, but there are also some differences. The zero-knowledge proof technology they use is the Sapling proof of zk-SNARK Groth16.
Zero-knowledge proof has become the core and most worthy research technology in terms of privacy and capacity expansion in the industry. For the technical details of Iron Fish’s zero-knowledge proof, it is recommended to refer to the official white paper.
In addition, in order to design the cryptocurrency to be easy to use, any account can be equipped with a key with read-only permission, which can disclose the transfer information of the account. This may also be a mechanism designed to solve regulatory issues. For example, Tornado.Cash also designed such a mechanism, so that users can prove the source of their assets.
In order to make it easier for users to access the network, Iron Fish uses a combination of WebRTC and WebSockets as the transport layer to solve the problem of router port forwarding.Iron Fish uses a lot of technology to help nodes establish direct communication, and it can be used out of the box. Whether it is in a CLI (command line interface) environment or in a web browser, anyone can easily access Iron Fish.
PoW with 15-second block generation, and the mining algorithm has not yet been disclosed
Iron Fish uses a PoW consensus that requires computing power, similar to Bitcoin. They will also dynamically adjust the mining difficulty through algorithms to provide an average block time of 15 seconds, which is similar to Ethereum.
As for the specific PoW algorithm, the specific details have not been disclosed in the white paper, and will be disclosed close to the launch of the project.
Custom Assets, Layer 2, Mobile
Privacy is of course important as a function, but the ecology of the blockchain network is also the core competitiveness of building barriers. So judging from the next step of Iron Fish’s work, they also realized that they need to continue to explore ecological construction.
If you look at the asset side first, there is not only Iron Fish’s native token “IRON” in the network, but it also needs to support the issuance and circulation of other assets, such as stable coins or other types of third-party assets. In addition, the team did not disclose whether there is a “FISH” token, but there is a possibility.
In addition, Iron Fish also considers the issue of scalability, and will promote the construction of the Layer 2 network and plan ahead. And they said they will also explore richer web support and mobile support, so that more people can easily access this network.