AMA Highlights | COCOS AMA Series №2 with Cocos-BCX Co-founder Haozhi Chen—2020 Mid-year Review and Outlook

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*The following content has been translated to English from Chinese by Cocos-BCX.

On July 16, 2020, at 8:00 PM (UTC+8), we hosted a live-stream session with Cocos-BCX co-founder Haozhi Chen in Cocos-BCX official WeChat group. During the “AMA ”, Cocos-BCX co-founder Haozhi Chen and Cocos-BCX community manager Alvin (the host) discussed Cocos-BCX development and answer some burning questions that community members care about.

The following are excellent and meaningful community questions and answers, collected and edited by Cocos-BCX.

Host (Alvin):

2020 is a hard year for almost every industries. Due to the COVID-19, many countries took measures like lockdown restrictions and stay-at-home order, which would have severe negative impacts on the global economy undoubtedly. However, the gaming and digital entertainment industries may be one of the few beneficiary industries. According to the report, during the outbreak of the coronavirus pandemic, two Tencent’s ace games “Glory of the King” and “Peace Elite” obtained millions of new users.

For the past few years, Cocos-BCX has completed a series of milestones such as internal testing, public testing, and MainNet launching since the start of this project. Thank you all for supports! Right now, it is time for 2020 mid-year review and outlook.

As you know Cocos-BCX has completed a series of milestones such as COCOS MainNet token swap, Cocos-BCX MainNet node election voting, Cocos-BCX MainNet Buidlers & Angels plan, DApp, regional communities building, etc. Thank you all for supports!

  • COCOS MainNet Token Swap

Since the official launch of the COCOS MainNet token swap, we have continuously worked on technologies docking with exchanges and wallets. At present, Binance, HOO Exchange and Bitpie Wallet have supported the COCOS main chain and its COCOS MainNet token swap successfully.

  • Cocos-BCX MainNet Buidlers & Angels Plan

(1) December 12, 2019: Cocos-BCX MainNet “Gang Rinpoche” was launched. Cocos-BCX team announced the MainNet Node policy and MainNet Buidlers & Angels policy. As of June 18, 2020, Cocos-BCX announced 48 MainNet ecosystem Buidlers & Angels, with 3 batches in total. Since the release of [MainNet Stage] COCOS ecosystem Buidlers & Angels incentive plan 2.0, we continuously receive applications from worldwide. After receiving applications, Cocos-BCX foundation regularly investigates and reviews the applicants quality in various aspects such as team reputation, social media status, community activity, etc.

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  • Cocos-BCX MainNet Node Election Voting

On May 11, the Cocos-BCX MainNet node election and voting is officially launched. Cocos-BCX adopts the DPoS consensus mechanism, which maintains the Cocos-BCX network and ecological governance through community voting for 11 active BPs and 11 active councils. It provides computing power, bandwidth, storage support for the Cocos-BCX MainNet, internal proposals, parameter configuration, etc., promoting the healthy development of the Cocos-BCX MainNet ecosystem.

The voting entrance is CocosWallet and the official voting website (https://vote.cocosbcx.net/, this method requires Cocospay plug-in wallet).

  • DApps Developments

There have been so many interesting blockchain games launched on Cocos-BCX MainNet such as “Crypto Knights”Dragon Must Die”、“XPet”、“Panda Games, etc. We will continue attracting and more interesting and diverse DApps throughout 2020, enlarging the entire Cocos-BCX ecosystem.

Also, DAPPX and Dappbirds officially launched COCOS wallet function.

Besides, DappReview officially launched the Cocos-BCX DApp section, which refers to adding the Cocos-BCX chain on its website sub-navigation menu. Users can experience the Cocos-BCX DApps through the DappReview official website.

  • Increased circulation of COCOS market

So far, COCOS has been listed on Binance, MXC exchange, BitKan exchange officially. / So far, COCOS has been listed on more than ten exchanges like Binance, MXC exchange, BitKan exchange, etc.

  • Cocos-BCX NFT

Cocos-BCX NFT mall was officially launched, users can buy Cocos-BCX peripheral products such as T-shirts, hats using COCOS. Meanwhile, we continue launching holiday-related NFT airdrops, improving brand awareness and user engagement.

As an international project, Cocos-BCX is willing to work together with global supporters and excellent Buidlers and Angels around the world to spread blockchain games jointly.

Since the release of the Cocos-BCX MainNet ecological Buidlers & Angels incentive plan, we have continued to receive applications all over the world. After Cocos-BCX foundation evaluation, we built 12 regional communities, including French, Spanish, Russian, Turkish, Indian, Indonesian, Bengali, American, Vietnamese, Sri Lankan, Filipino, and Arabic communities, while Africa, German, Italian, Pakistani, Nepali communities are still under review.

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Besides, to appreciate the loyal players from all over the world for their continuous support and attract more new players, we are launching Cocos-BCX Blockchain Games Week this week, which includes SIX airdrops. 1,000,000 COCOS are given away!

https://medium.com/@CocosBCX/cocos-bcx-blockchain-games-week-were-raining-1-000-000-cocos-giveaways-b3ae0f335aee

Cocos-BCX NFT mall was officially launched, users can buy Cocos-BCX peripheral products such as T-shirts, hats using COCOS. Meanwhile, we continue launching holiday-related NFT airdrops, improving brand awareness and user engagement.

Besides, the eighteenth China International Digital Interactive Entertainment Expo (ChinaJoy) in 2020 will be held as scheduled at the Shanghai New International Expo Center from July 31 to August 3. In conjunction with this ChinaJoy offline exhibition, the online display will be launched at the same time-the first “ChinaJoy Plus” cloud exhibition. What’s more, ChinaJoy Plus tickets have the NFT function, which is exclusively provided by Cocos-BCX. Users can obtain NFT by logging into ChinaJoy Plus.

In recent months, the market value of the DeFi projects has exploded. It has caught the attention of the whole industry, and many investors do have made a lot of money. However, the actual number of active users of the DeFi application is not very high. According to data, the number of daily active users of the head DEX, Uniswap, has only more than 6,000 daily active users, while DeFi project such as the Balancer with a market value of hundreds of millions of dollars has only hundreds of daily active users.

It is undeniable that DeFi has many significant advantages over traditional finance, and these advantages are just to solve the problems of the current financial system. However, DeFi is still in a very early stage, and it is normal to encounter problems. Just like the early development of the Internet, it also encountered various problems.

The Cocos-BCX team will continue to pay attention to the news in the industry, but our focus is still on blockchain games. We aim to create an integrated multi-platform runtime environment for games, providing developers with the convenience and completeness in game development, while bringing users a whole new gaming experience, unprecedented gaming status, and with all the assets obtained in the games being wholly owned by the users.

At the end of August, last batch of COCOS unlock will be completed. The number of unlocks is 20% of the private sale, the previous two batch of COCOS unlock were 55% and 25% respectively.

  • Online Cocos-BCX Ecological Consensus Conference

Recently, we are preparing the Cocos-BCX Ecological Consensus Conference, increasing consensus of Cocos-BCX ecology.

  • Offline Meetup During ChinaJoy Conference

Cocos-BCX will hold an old friends meetup in Shanghai at the same time as ChinaJoy from 16:30 to 18:00 on August 1.

Alvin, Cocos-BCX global community contributor, Da You, Cocos-BCX technical architect, Neo, CEO of ChainPlay and Minghui Cai, CEO of DAPPX will discuss about COCOS-1808 ( BCX-NHAS-1808) Standard development, as well as the development status of “Crypto Knights” and “Dragons Must Die”, etc. Welcome to participate in the meetup and talk about the development of Cocos-BCX physically.

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After the MainNet COCOS swap, the MainNet COCOS would circulate throughout the entire ecosystem, so it would attract and more interesting and diverse DApps throughout 2020, enlarging the entire Cocos-BCX ecosystem. If you are interested in joining our ecosystem, please contact us.

Besides, Cocos-BCX will continue to strengthen the construction of global community ecology to attract more active community members and supporters. At present, there are eight worldwide partners who have joined the Cocos-BCX ecosystem Buidlers & Angels. Furthermore, the COCOS MainNet Ecosystem Buidlers & Angels incentive plan will be valid for a long time, and everyone is welcome to participate.

Cocos-BCX team will cooperate with more trading platforms to provide multiple trading pairs as soon as possible and strive to improve market liquidity and user trading experience.

In 2020, we believe that NFT will be the most important development highlight on the path of combining blockchain technology with games and digital content assetization. Therefore, we will focus on promoting the application of NFT heterogeneous assets on Cocos-BCX in 2020. In China, we have already started cooperation with some ticket agencies. Globally, we also hope to reach cooperation with large-scale Internet platforms. Through the joint NFT exchange, game development CP, and our own technology, it is possible to make in-game item assets, ticket tokenization, and even asset chaining.

Questions from Communities Members

The Cocos-BCX Ecological Consensus Conference was mainly attended by members of the Cocos-BCX Foundation and representatives of global ecological Buidlers & Angels. They will sum up and discuss the ecological incentive plans in the past period of time, communicate and encourage each other to actively participate in ecological construction. After the meeting, we will also publish the Ecological Consensus Conference recap on the official platform.

The MainNet Node Conference is mainly attended by members of the Cocos-BCX Foundation and members of the node. They will discuss the governance of the Cocos-BCX blockchain, reasonable construction opinions and proposals, and provide positive suggestions for the future development of Cocos-BCX. In the same way, we will also publish the MainNet Node Conference recap on the official platform.

With the last COCOS unlock at the end of August and increased circulation of COCOS market, we expect users to trade more and more actively. But price depends on many elements, so I will not predict.

For the first half of 2020, there have been so many interesting blockchain games launched on Cocos-BCX MainNet such as “Crypto Knights”Dragon Must Die”、“XPet”、“Panda Games, etc. We are also discussing with other game teams. We will provide corresponding fund support based on the ecological Buidlers & Angels incentive plan, technical support, marketing and operation support. We welcome any high-quality team to develop games on the Cocos-BCX blockchain!

Cocos-BCX uses the DPoS consensus mechanism, which does not require mining machines for mining so it can effectively avoid the impact of centralized computing power on the entire basic blockchain, thereby reducing the risk of forks. Under the DPoS mechanism, if there are witnesses who want to fork by voting, they have to make sure that more than 1/3 of the witnesses also violate the mechanism at the same time;

We improve the consensus algorithm on the basis of the traditional DPoS consensus mechanism. All active witnesses have the same block reservation probability in the witness reservation algorithm of the DPoS consensus algorithm, which guarantees the block generation probability of all witnesses is consistent

Each existing consensus mechanism has some trade-offs and sacrifices. DPoS is already a good choice in terms of performance and efficiency, although some decentralization is sacrificed. The future blockchain world must be diversified. Different blockchain systems have their strengths and weaknesses, and they should choose the appropriate basic system according to the actual situation.

Next-Gen Digital Game Economy. Game engine, IDE and blockchain for decentralized game development. Website: cocosbcx.io

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