Aaron McDonald, Centrality CEO, and Wilfred Godfrey, Centrality CTO, answer questions from the community about Centrality tech and our new rewards program.

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With all the new updates and advancements with Centrality will a new roadmap be released anytime soon?

We have an exciting roadmap ahead, but we’re in the process of patenting new blockchain tech (as we have with our Doughnut protocol) and can’t share it just yet.

Regarding the partnership with Jasmy, could you please explain how you plan on linking and expanding to the world in the future.

We are really excited to be working with Jasmy to help big companies work with their customers to democratise access to data. Jasmy has some of the best business minds in Japan working in their team to understand the market and come up with exciting new products for IOT and data. We are working closely together to create these products with Jasmy using some of our tools and protocols such as PL^G, SYLO and SingleSource. We hope to continue this partnership to unlock the huge potential for a decentralised IOT ecosystem.

Once mainnet is launched and Centrality starts generating regular revenue, will this revenue be used for buybacks and burns to make $CENNZ a more scarce commodity?

We have a lot of ideas around how to make CENNZ more valuable on the mainnet, this includes finding ways to ensure the market has good liquidity support and ways to lock CENNZ up to create value for holders and scarcity. We will have incentives to burn CENNZ, ways to stake CENNZ and ways to convert cash into CENNZ.

Our initial focus is on ensuring there are lots of users on the network, ultimately this provides real value to CENNZ holders that don’t require manufactured sinks. On that front we are doing better than anyone else right now, RIMU has more dApp daily active users than pretty much all other networks. Look at https://dappradar.com/ we aren’t listed here yet but when we are listed here these dApps and their networks will start to look pretty bad compared to the 10x more users already on CENNZnet before main launch.

Does centrality have any device for decentralization?

We assume this question is asking are we producing a hardware device that people can use to help ensure the network is running on plenty of nodes.

Right now our focus to help ensure as many nodes as possible are running on the network is in two areas.

1. Short term — We have developed a new Blockchain as a Service product called Onfinality http://www.onfinality.cloud/ this service will let everyone, even non-technical people, run a node, stake their CENNZ, and earn staking rewards easily. Right now with most networks running a full node is hard and requires technical skills we want to make it easy for everyone.

2. Longer-term — We have some exciting developments in the roadmap which will enable users to run a node on their own mobile phone this will allow even greater participation.

I would like to know how to make the stake pool centralized in the future (public staking) so that the network does not have more than 51% approval authority. For example, Cardano’s stake pool has a limit on the stake reward that a single stake pool can earn. Is there any way to disperse stake pools in centrality?

Rewards will not be strictly proportional to stake. Centrapay will be rewarded to validators in preset tranches. For example, if we have 3 validators with different amounts of staked CENNZ then they may receive 17.5%, 37.5%, and 45% of the reward regardless of the real proportion of their stake.

What is the minimum threshold for staking?

We currently have no threshold for staking but this may change when we have more real-world experience running our unique split-token staking model.

To address the issue of malicious actors creating a large number of stakers, we plan on selecting validators from a majority of the largest stakers only. When large stakers leave the network this will let new stakers in, and also drives value for CENNZ.

Can you explain more about CENNZX, will this be a full-blown exchange or how will it work?

CENNZX is a “spot” exchange that allows CENNZnet token holders to buy and sell CENNZnet tokens by putting buy and sell orders on the chain, and these trades close automatically without the need for an oracle or external order book. These tokens are initially the tokens stored by the CENNZnet “Generic Asset” module but we might support ERC20-like tokens in the future.

CENNZX is also built directly into our chain, rather than existing in a smart contract. One of the benefits of this is that CENNZnet can support fee payment in any token that can be listed on CENNZX. A user can tell the chain which token they want to pay their fees in and under the hood CENNZnet uses CENNZX to trade for Centrapay.

Because the price can be set by the user, and the exchange provides an accurate market price, this process is seamless for the end-user.

What are the principles for Centrapay?

1. We want to make it predictable for developers to understand how much it will cost to run an application on the network. Many blockchains have unpredictable cost models which make it difficult to scale an application to millions of users and provide a reliable service.

2. We want to ensure that the supply and demand are balanced so there is always a valuable reward to run a NODE and to hold CENNZ, but also it’s attractive for developers to build dApps and for users to use the network.

3. We want to ensure that CENNZ holders can earn more “yield” per CENNZ to help increase the value of CENNZ without causing a big GAS cost increase for users and developers.

Currently in other networks like ETH for example if the value of the asset (ETH) goes up so does the $ cost of the transactions on the network. This makes it hard for developers and entrepreneurs to grow their business and the utility of the network. Imagine if the cost of using an Amazon server was related to the cost of the Amazon Stock price, that simply wouldn’t work for developers.

We think this dual token model helps ensure the value of CENNZ can grow but the network can remain useful and predictable for developers.

More detail about the design can be found here on our developer documentation portal. https://cennznetdocs.com/CENNZNet/overview/monetarypolicy.md.

What will Centrapay be used for?

Centrapay is the GAS token for the CENNZ network, everyone who uses the CENNZ network or a CENNZnet dApp or creates a token on CENNZnet will need Centrapay tokens. They will need to buy these tokens from CENNZ holders since only CENNZ holders can receive Centrapay block reward tokens. Because Centrapay is a token and because CENNZnet is an open network we believe that developers and our ecosystem will find lots of useful things to build with Centrapay. We already have some exciting partnerships with world leading companies which we will announce soon to help drive Centrapay usage.

What will Centrapay be worth?

The more users/dapps and transactions the network processes, the more Centrapay will be needed to keep the network running. This is how we all create value for Centrapay. For example, each SYLO user on the RIMU network is currently using Test Centrapay, we already have more daily and monthly active users than Maker DAO or the top EOS games, so when we make real Centrapay live there will already be lots of users. What it will be worth will be related to the value of CENNZ and the number of transactions on the network.

THESE QUESTIONS RELATE TO THE NEW REWARDS PROGRAMME:

Is it possible to cancel staking temporarily?

For public staking at main net launch you will be able to temporarily unstake from the pool. For the reward programme, the terms and conditions state that the staking period is 90 days and you will not be able to withdraw your tokens during that time.

Can we see the source code for the reward programme staking contract?

Absolutely, this will be uploaded to Etherscan.

Is staking only 10000 CENNZ units? Can you stake less than that or fraction?

There is no minimum or maximum limit on the amount of CENNZ you can stake for the reward programme. In the tutorial we used 10,000 CENNZ as an example to demonstrate how many Centrapay you would receive if you staked 10,000 CENNZ.

If I’m not linked to the Metamask can I still participate in the reward programme?

Metamask is the only option that we’re offering for the reward programme at this stage. If you would like to create a Metamask account you will find the link in the tutorial https://medium.com/@centralityai/centrality-rewards-programme-6954f0eb51df.

Is there a referral/affiliate programme?

Stay tuned for some exciting news on the CENNZ reward staking referral program coming out soon.

I made several Metamask wallet accounts. We will distribute the tokens we have to each wallet evenly. Is the former more efficient than staking with a single wallet?

It makes no difference.

What are the disadvantages of staking in the reward programme?

Well, I’m staking my CENNZ so I can earn Centrapay rewards, so I don’t really see any personally, but maybe it would stop you from sending your CENNZ to somebody else for a short period of time.