Crypto-News India conducted an exclusive interview with Tony Cui, founder of Achain blockchain based out of Beijing. ACT tokens have caught the cryptocurrency world by storm, including our Indian community. We had a few questions pertaining to the company that created these tokens. Here is what we found out:
Q1. What is Achain? What was the need for a new blockchain?
Achain is a public blockchain platform that enables developers of all levels of experience to issue tokens, smart contract, create applications and blockchain systems. We are committed to building a global blockchain network for information exchange and value transactions.
The current public blockchains on the market have their strengths and weaknesses. Take Ethereum for example, the transaction fee on the Ethereum network changes depending on the priority of the transaction. Also, transaction speed on Ethereum is 20-50 tps. At the same time, Achain’s strengths include its high-speed transaction (1000 TPS) and low transaction fee (0.01ACT). And of course, there are many other aspects where Achain is a strong contender for the next-gen blockchain.
Q2. How is the speed different from the already existing blockchains?
As written above, Achain has a higher transaction speed than existing blockchains.
Q3. Is the blockchain completely decentralized or is it a mix of public and private?
It is a decentralized public blockchain. Developers can use the tools our programmers published on GitHub to develop their own Dapp.
Q4. Will the token (ACT) be used to power the Achain blockchain, like Ethereum has Ether?
Yes, the token is already used to power the Achain blockchain.
Q5. Apart from developers, who else can utilize Achain and in what capacity?
Actually, Achain was built primarily for developers to create decentralized applications. For non-developers, they can buy ACT tokens to trade/invest on different exchanges.
Q6. Where do you see Achain 5 years from now? 10 years from now?
It’s very hard to predict who Achain and the Blockchain industry will become in one year. Therefore, a five-year plan or ten-year plan is not very realistic. Our long-term play here is to build an Achain system, where Achain provides the infrastructure and help many Dapps grow on top of it. Meanwhile, we will continue pushing the technological boundaries of blockchain and bring the best infrastructure to the public.
Q7. What are the partnerships and associations with other giants in the blockchain industry, in the pipeline?
Being a public blockchain, it is unlikely for Achain to partner with our competitors like Ethereum. We have partnerships in the pipeline with mostly Dapp developer teams. Most of the time they are developers from other industries rather them blockchain industry.
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