PKT Cash x Satoshi Club AMA Recap from the 23rd of March
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from PKT Cash and our guest was . The AMA took place on the 23rd of March.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Jonah 🏅🎹 | Satoshi Club
Hello dear Satoshi Clubbers welcome to our AMA session with PKT Cash
Our Guests for today are @cjdelisle, @jeremy_berger and @joshberger, @JesseBerger
Pavel P
What a busy day here in Satoshi Club!
Jonah 🏅🎹 | Satoshi Club
Oh Yeah a busy day indeed
Pavel P
Let’s welcome our guests from PKT Cash!
Pavel P
A few minutes of patience.
cjd never sends direct messages
Hey hey
Pavel P
Hey! Nice to have you here today with us!
cjd never sends direct messages
Indeed, nice to be here
Pavel P
Welcome to Satoshi Club!
cjd never sends direct messages
thanks
Pavel P
How is it going?
cjd never sends direct messages
Doing pretty well, and yourself ?
Jonah 🏅🎹 | Satoshi Club
Welcome Guys
Pavel P
We are excited about our AMA!
Jonah 🏅🎹 | Satoshi Club
Let’s start our AMA
cjd never sends direct messages
Sounds good
Jonah 🏅🎹 | Satoshi Club
Can you please introduce yourselves to us, how you got into crypto and how PKT Cash started?
cjd never sends direct messages
Sure thing
I’ll say DONE when I’m complete
So I’m Caleb James DeLisle, I’ve been in open source software and research for about 10 years now
First major project was cjdns which is a piece of software designed to allow people to build their own networks in their neighborhood
So question people ask is why is there only 1 or 2 companies providing eveyone the internet
on the internet you have choice of everything, but you don’t have choice of who provides you the internet
Jonah 🏅🎹 | Satoshi Club
I see where the name comes from
cjd never sends direct messages
Problem is that network infrastructure is very expensive, AND it’s very difficult to manage a network
it’s a business
and the more fiber you own, the more profit you can make off of it
This model just lends itself to monopolies
So anyway, back to who I am
I got started working on a project to make it easy for regular people to own their own piece of internet infrastructure
but thing is, this was 2011, and in 2011 there was no way to make *fast* micropayments over crypto
We had bitcoin, and I was in the bitcoin community a bit, I have a couple lines of my code in the Bitcoin project
but nothing *fast*
Anyway, I spent 7 years in research, doing funded projects for the French and European states
Built a lot of nice open source projects, including CryptPad
But around 2017 finally Lightning Network started to mature enough that it seemed like fast micropayments would finally be possible
So this was when I met my colleagues and we started talking about a blockchain
PKT is novel because the mining algorithm is based on bandwidth
whereas Bitcoin is proof of work — effectively proof of expended electricity
PKT is a “bandwidth hard” proof of work, so you mine it using your unused internet bandwidth
anyway, I’ve rambled enough on that question so DONE
Jonah 🏅🎹 | Satoshi Club
Awesome
Very impressive background
cjd never sends direct messages
Thanks
Jonah 🏅🎹 | Satoshi Club
So what is PKT Cash all about?
cjd never sends direct messages
It’s a fork of bitcoin with a roadmap around the vision that everyone can own and operate their own piece of the internet
The mining algorithm is PacketCrypt — the world’s first bandwidth-hard proof of work
And 20% of every new block mined goes to an institution called the Network Steward, which helps build out the ecosystem through transparent competitive grant-making
Remember I have 7 years experience in research, well with the Network Steward we do basically what governments do except we’re funding people in the PKT ecosystem to build things.
Jonah 🏅🎹 | Satoshi Club
How many people do you currently have working on this project?
cjd never sends direct messages
It’s a good question really, if I were to make an estimate I would say around 30, but I don’t know all of them
This is a unique project, it’s not like one of these centralized tokens, there’s no premine, no investors, no CEO, etc
Yet unlike a project like Bitcoin, it has a robust roadmap
Jonah 🏅🎹 | Satoshi Club
Great number
cjd never sends direct messages
And that’s for 2 reasons
#1 is because of course there’s the Network Steward to help that roadmap happen
but #2, and more interesting, is because the roadmap of PKT is more like kind of a “city plan”, in that many of the items of the roadmap are intended to be developed by for-profit companies inside of the PKT ecosystem
Think of a city, the roads, the water, the electricity, these are all public services
But the restaurants, the shops, the plumber, all of these are private enterprise
Jonah 🏅🎹 | Satoshi Club
This is Exciting
cjd never sends direct messages
In the PKT roadmap, we left a large section for private enterprise to be able to build out the PKT vision
Pavel P
That sounds very challenging!
Jonah 🏅🎹 | Satoshi Club
Thank you for the great introduction
cjd never sends direct messages
Well, it’s never been done before, but that’s part of what makes it so exciting
Jonah 🏅🎹 | Satoshi Club
We will now like to proceed to our community questions
Ready for them?
cjd never sends direct messages
Ok
Pavel P
Q1 From Telegram User @Pelusapinto21
PKT uses PacketCrypt, the world’s first high-bandwidth proof-of-work. You can earn PKT Cash (PKT) when you connect your home or office Internet to the PKT network. Can you offer us more information about PacketCrypt? How does this bandwidth proof of work work? What are the PacketCrypt proof-of-work utilities? What kind of reward can be obtained from this proof of work?
cjd never sends direct messages
Ok so I’ll answer in reverse order
What is the reward -> you get PKT for mining, just like any mined coin
What are the utilities of the PoW -> The actual PoW itself is waste, because this is a fully decentralized blockchain and not a “token” with “validators”, there is no secure way to reuse the work. However, the use of bandwidth incentivises people to install bigger network infrastructure in their community which can then be shared.
How does PacketCrypt work -> This part is fairly complicated, because like I said, it’s an actual fully decentralized PoW algorithm, no “validators” or funny business. The best way I can describe it is that it is a cryptographic problem which becomes easier if you collaborate with other miners, and collaborating requires you to communicate with them, a lot.
Jonah 🏅🎹 | Satoshi Club
Btw Is the packetcrypt a fully developed concept that is already working?
cjd never sends direct messages
Yup, genesis block was in 2019
August
Was it challenging launching launching 6 months before a global pandemic -> YES
we’re still here, and that’s probably the best thing that can be said for any community
Pavel P
100% agree!
Jonah 🏅🎹 | Satoshi Club
Thank you for your Answers
Ready for the next question now?
cjd never sends direct messages
yup
Pavel P
Q2 From Telegram User @ghostofcharmeleon
Hello, PKT Cash team.
You have a very good and society-centered company ideology. Of course, you proceed from the best intentions. But where borders disappear, there can be a very large scope for fraud in the field of finance or any other way of deceiving people. Do you think it is possible to avoid this with the ideology of an absolutely free Internet? Maybe you already have a ready-made solution that you can tell us about? How to censor information that is objectively harmful to users?
cjd never sends direct messages
Well I’m not big on censorship myself. The internet has made it this far by not censoring really anything.
We use services like Telegram or Mastodon or Twitter, and they choose what to censor
but it is astonishingly difficult for them to actually get kicked off of the internet for not censoring some “fake news” or something
The problem is once you decide that you’re going to make it literally impossible to access fake news, then you have to decide what is fake
And gues what, every politician in the world wants to tell you what fake news is
Jonah 🏅🎹 | Satoshi Club
True
cjd never sends direct messages
Following with your title, F*CK this war, you’re damned right. And we have Russia, Ukraine and the EU all censoring different information
Jonah 🏅🎹 | Satoshi Club
I agree, everyone comes up with their definition of fake
cjd never sends direct messages
I think at the networking level, let the bits flow. At the level of social media and whatnot, that’s where we should clean things up, prevent spam, etc
cjd never sends direct messages
Oh, not quite done
cjd never sends direct messages
If you decide to censor the internet, you have to decrypt all data that is sent by anyone to anyone
because otherwise you don’t know if that data is something objectionable, that you need to sensor
cjd never sends direct messages
So… No F*cking Way.
now done
Pavel P
That is a positive end of the question!
Jonah 🏅🎹 | Satoshi Club
You are absolutely correct Caleb!
Thank you for your clear answers
Ready now for the next question?
cjd never sends direct messages
yup yup
Pavel P
Q3 From Telegram User @sunny_steel
You say that the PKT Network is operated entirely by the people who participate. There is no central company, no investors and no pre-mine. PKT technology lowers the barriers of entry into the world of internet service. While the goals looks clear to me, please explain why you decided to get the mission done by using blockchain and crypto? What advantages does this bring to end users compared to traditional service providers? How do you plan to spread the service geographically? Thanks!
cjd never sends direct messages
Any central operator can be shut down
And believe me, there are people in this world who want to shut down the internet
The internet is a real problem for every dictator and every tyrant
because it’s regular people talking to eachother and saying “ok this is a bunch of crap”
So there are concerted pushes, not only in repressive countries where we all expect this, but also in western countries
there’s always some excuse
And what we’re doing here is building a network with no kills switch, no way to turn it off
If we succeed, I believe that by 2100 there will be no more dictators and no more wars
If we fail, I fear we may end up in a nuclear entanglement bad enough to put ourselves back into the stone age
Jonah 🏅🎹 | Satoshi Club
I’m sure we all want this
cjd never sends direct messages
Sorry for getting all serious all of the sudden
But I’ve literally been working on this for 10 years now
Jonah 🏅🎹 | Satoshi Club
No problem
cjd never sends direct messages
When nobody thought this was an issue
Now it’s something people are starting to notice
But by the time we get to the end of phase 3 of the roadmap, it is my analysis that our project will be entirely unstoppable
We will win
Pavel P
Could you explain for those who are not profs how will it work for regular users? What should be done step by step to get your internet?
cjd never sends direct messages
If your neighbor has wifi, you can use it
cjd never sends direct messages
And you can also re-share it with other neighbors
and everyone gets paid for what they contribute
And nobody needs to be an expert at networking, because all of the network administration will be managed by tech companies kind of like email providers
just point the antenna, hook up the wire, start earning
And if you want to be able to access the network anywhere, pay any one of dozens of companies for access and you can use the network
Pavel P
Great! Thank you for the explanation!
Let’s proceed to the 4th question!
Jonah 🏅🎹 | Satoshi Club
Thank you for your Great response
Pavel P
Q4 From Telegram User @iceVermithraxx
Focusing on the Architecture of the PKT network, the PKT network is designed to decentralize internet access around the world by enabling anyone to become an ISP. To virtualize the technical aspects of an ISP, while decentralizing the location-specific role of infrastructure operator, you introduce the concepts of the Edge Point and the Cloud ISP. can you explain more on how PKT network aims to decentralize Internet access and make anyone become an ISP? can you also explain on the concepts “Edge Point” and “Cloud ISP”? can you briefly share on the working mechanisms of the Edge Point and Cloud ISP? lastly, i noted that PKT network incentivizes people to become Cloud ISP, can you explain more on these? what are the advantages of being a cloud ISP?
cjd never sends direct messages
Ok so when you think of a Cloud ISP, think about a VPN provider
it’s a company, they know how to do networking, they have really smart employees
but they don’t own fiber to your neighborhood, they’re a startup somewhere
When you think about an Edge Point, think about your neighbor’s wifi
It’s the Edge of the network, hence *Edge* Point
They *do* own fiber in your neighborhood — or more precisely, they lease it from their provider, of a business line, or a wireless link, etc
The Edge Point is responsible for keeping their equipement turned on and functioning
the Cloud ISP is who you call if you’re having internet trouble
and the Cloud ISP pays the Edge Point for their “raw” bandwidth and packages it into a product with service, support, invoicing, etc, which makes it something you can rely on
Jonah 🏅🎹 | Satoshi Club
By the way you mentioned that your project will become unstoppable when you get to the end of phase 3 of your roadmap, can you share the roadmap with us?
cjd never sends direct messages
You’ll find it on my informational website https://pkt.cash/
You’ll notice that some of the steps are hardware devices or services, these we expect businesses to come in and take over
We want PKT to be a welcoming ecosystem for businesses to thrive
because businesses are what package a product for people and make it something nice
Open source software provides a lot of freedom, but it can never be as nice as a product, so we want products made from open source
Jonah 🏅🎹 | Satoshi Club
Your explanations are very clear
Thank you
Should we proceed to the next question now?
Pavel P
Q5 From Telegram User @jameslekan664
Looking at the organization of the PKT “Network Steward”, I understand that 20% of every mined block goes to the Network Steward addresses and these addresses can be changed by PoS based vote. What major rules governs the payments to these Steward addresses?.. I also saw that it is possible for every PKT holder to impeach a steward and employ a new one provided that the steward isn’t fulfilling it’s role..Can you elaborate more on this voting process? How will the votes be conducted?..Under what condition(s) will the impeachment call be executed?
cjd never sends direct messages
Oh that is a very friendly question haha
So yes, the Network Steward has a lot of rules it operates under
We never wanted to do any kind of “premine” or “founders fee” but we still wanted to be able to make the ecosystem move forward
From my experience doing state funded research projects, I know how to build structures to prevent conflicts of interest and such, because in research you have to
So the Network Steward, firstly, operates in full transparency
Every coin that it has ever allocated has a paper trail of what project that coin was allocated for, what were the deliverables, when was it proposed, and why it was accepted
And if Network Steward funds are NOT allocated, within 90 says, they are burned by the blockchain
To date, the Network Steward has burned more coins than it has allocated
This is somewhat unfortunate, because finding great projects is hard, but it is also a benefit to PKT holders because some 400mn coins are taken permanently out of circulation.
cjd never sends direct messages
Now on the “impeachment” vote, we built in a mechanism by which, if the Network Steward stopped serving the community in a horribly bad way, it could actually be replaced. To do this requires over 50% of all issued coins, so it is incredibly hard, but it is a mechanism to protect against NS malfeasence.
The votes are part of the blockchain, the standard wallet can vote when making a payment.
People don’t do this, but to date the Network Steward team has really worked hard to have an unimpeachable character
It has a reputation for saying “no” to a lot of projects, but better to refuse a good project then to pass a bad one and be accused of corruption
Jonah 🏅🎹 | Satoshi Club
How does one become a network steward?
cjd never sends direct messages
There isn’t really any mechanism for replacing the team, except for the impeachment process that exists
Jonah 🏅🎹 | Satoshi Club
Clear
cjd never sends direct messages
However, the NS is quite interested in funding other initiatives which act as an NS, a sort of “cascading fund” to allow others to deploy funds more effectively
Jonah 🏅🎹 | Satoshi Club
Thank you for your answers
Ready for the last question for this part now?
cjd never sends direct messages
sure thing
Pavel P
Q6 From Telegram User @thisistoyin
I Got to Know that PKT Pal has created a dedicated hardware solution called the PKT Cube to help anyone easily participate and get paid. I learnt The PKT Cube enables the average person to easily maximize the income from their unused internet bandwidth, without relying on their personal computer or laptop. Could you please help Elaborating on how these Cubes Works? What are its Functionalities and What sorts of Features does it has apart from maximizing unused internet Bandwidth? Could you Please Give details on how we Can Get This Wonderful Cube? Thanks
cjd never sends direct messages
Ok so in reverse order again:
How to get the wonderful cube –> https://pktpal.com/
What does the cube do —
It mines PKT the same way you might mine using a regular computer, but it is much easier and it has it’s own integrated wallet
BUT it also gets software updates provided by PKT Pal which will in due course make it possible to share internet using the cube
And as always, easy
PKT Pal is an example of one of the companies doing things in the PKT ecosystem. You can do what PKT Pal does, the core protocols and technologies are open source, PKT Pal’s secret sauce is what makes the cube so nice and easy to use.
Jonah 🏅🎹 | Satoshi Club
How many companies like PKT Pal exists within the PKT ecosystem?
cjd never sends direct messages
PKT Pal is the only one which is currently making a consumer product. But we also have Anode which is developing a wallet+VPN app, and we have multiple mining pools which own and operate their own infrastructure as businesses.
Jonah 🏅🎹 | Satoshi Club
Thank you for your answers
Pavel P
Let us wrap up this first part of our AMA!
Jonah 🏅🎹 | Satoshi Club
We will now like to proceed to the second part of our AMA
Pavel P
Get ready for some action now
Jonah 🏅🎹 | Satoshi Club
Our users will ask you their questions directly
cjd never sends direct messages
Sounds good
Jonah 🏅🎹 | Satoshi Club
Are you ready for them?
cjd never sends direct messages
yup yup
Jonah 🏅🎹 | Satoshi Club
Chat will be opened for 120 seconds
Opening Chat now
Pavel P
Let’s ROCK!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @highpee
Many have criticised the PROOF-OF-WORK system which is championed by Bitcoin due to its ENERGY DEMAND and ENVIRONMENTAL CONCERNS which make new blockchain solutions to develop alternatives such as PoS, PoA, DPoS, PoSA etc.. Why did you still base your operation on PoW and how do you intend to promote an environmental friendly system?
cjd never sends direct messages
Energy is not environmentally harmful, 19th century energy technology is. We have incredible abundance of energy at our fingertips via Thorium nuclear cycle. It’s not a theory, it’s proven, it really works, everyone agrees it works, but the nuclear industry keeps on using old designs and building expensive inefficient powerplants that are not inherenlty safe because it makes them more money.
Q2 from Telegram user @K2ice
One thing that is very certain and clear is that a decentralized bandwidth marketplace will be necessary for the evolution of the Internet in the future. How can you assure users that the PKT network will live up to its expectations and how prepared is the PKT network for this great task ahead?
cjd never sends direct messages
I agree, it’s quite clear to me that this is the way of the future — like I said if we don’t end up in a WW3 end-of-the-world scenario. I can’t promise it will be us that does it, and not someone else. But what I can say is we’re going to give it all we’ve got and I don’t know anyone else who is really focusing on this yet. Though I hope more will come.
Q3 from Telegram user @Ask4Unik
While accessing your website,I notice some of the products PKT will bring to its platform they are,WinCjdns,CjdnsPriority,CjdnsMT and CjdnsDocker.So can you briefly elaborate what this products are and how beneficial it will be to users of PKT?Since you your roadmap is written in phases it will be difficult for users to actually know when the services mentioned above will be released,so have your team finalize when all products will be launched?
cjd never sends direct messages
These are “code words” and each one is further explained below on the site. It’s a good feedback though
Q4 from Telegram user Madan
If there is no central authority in PKT cash, who will make Key decsion regarding listing on exchanges, partnership etc.?
cjd never sends direct messages
Great question! The exchange listings were managed by “working groups” of community members who came together and decided to do them. Businesses in the community pooled their money to fund them.
Q5 from Telegram user @Thisistoyin
I also saw that PKT put together the first-ever Ethical Communication Guidelines, which can help community members who are talking or writing about the project. Could you please provide us with information to which we could have access to these Ethical communication Guidelines? Is there any form if Incentives or Rewards that is Giving to Active members who are willing to Spread Important Information about your Platform to the World?
cjd never sends direct messages
So the point of the Ethical Communication Guidlines is that people sometimes get too excited and start saying things which are a little too much like financial advice. This has not been much of an issue for our project but it is an issue in the crypto ecosystem. We wanted to really be a leader in good citizenship as a crypto project. There is no specific benefit for following the guidelines except that Network Steward funded projects are expected to adopt the guidelines or at least explain how they plan to make sure their communications are ethical.
Q6 from Telegram user @Marquills
How do you plan to dominate the internet market and in turn the decentralized market without having direct problems with any government?
cjd never sends direct messages
We probably will. There are a lot of governments out there which really need to stop doing what they’re doing. But this is where the “no kill switch” part comes in. China tried to ban cryptocurrency and see how much trouble they’re having already? They are even cracking down on their own government ministries for mining BTC. If we can do that but for free and open internet then the whole world will become a democracy
Q7 from Telegram user Endocryne
PKT intoduced a new standard of token issuance called the Token Strike, which will launch Q1 2022, can you elaborate more on new standard of token issuance called token strike?
The objective of The Network Steward is to reduce barriers of entry to support the PKT Network in the pursuit of increased individual autonomy and privacy. In order to achieve these goals, The Network Steward will occasionally meet to review funding proposals and choose which projects to grant PKT to. Can you give a deeper insight of this PKT funding system?
I noticed from your website there is Network Steward system PKT which is a Multi-signature wallet which requires 3 out of 5 signatures in order to make a Payment. Can you please explain more on the Network steward system and how it works?
cjd never sends direct messages
Regarding TokenStrike, the team who is working on this has been slowed down because they’ve sadly been forced to flee from Russia . I don’t know when they will be able to begin delivering milestones but I know they are still excited to work on the project.
Regarding the NS, there is a lot of information available on https://github.com/pkt-cash/ns-projects I really recommend reading every file in that repository.
Q8 from Telegram user Brandon
What allows PKT to work is the Lightning Network blockchain, but this blockchain is considered unusable because it is somewhat tedious to get an Exchange that supports it, nowadays it is hardly used. What do you consider important about the Lightning Network for PKT and Bitcoin? regarding the difficulty of investing using LN?
cjd never sends direct messages
We’re working really hard on stablizing the LN code. PKT is built on top of the bitcoin golang codebase, the same codebase used for LND, so we have a head start. The code does need extra attention to be robust but this is what we are working on every day.
Q9 from Telegram user @Arnavx5
Do we need to do kyc or any kind of Permission before starting?
cjd never sends direct messages
Real blockchains don’t ask for KYC to mine
Q10 from Telegram user Brandon
Can you tell us how they will keep hardware equipment running if the internet will be very cheap, what will be those means of payment Fiat or Cryto?
cjd never sends direct messages
You’ll be paid in PKT, because it’s the same everywhere in the world. If you were paid cash then it would depend on what country you’re in.
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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