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Blockelite X 5ire AMA Recap

Thank you to everyone who joined AMA Blockelite x 5ire on 18th February at 03:00 PM UTC I 10:00 PM (UTC+7). Here is the recap for those who missed this AMA.

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Yuno – Blockelite Host: Hello fellow Eliters and welcome to another Blockelite AMA Series
So ladies and gents, Our special guest today is Aman Parashar – Marketing manager & Utkarsh Dubey – Content/Social Media Head of 5ire
Hello @hedonistmarketer and @utkarsh_5ire , welcome to Blockelite

Aman Parashar – Marketing manager: Hey Everyone, Glad to be here today
Thanks @yuno_02

Utkarsh Dubey – Content/Social Media Head: Hi everyone
It’s great to be here!

Yuno – Blockelite Host: How are you today?

Utkarsh Dubey – Content/Social Media Head: Great. Hope you guys are good as well
Let’s begin

Yuno – Blockelite Host: Okay, thanks for joinning today
Our guest is ready, we will enter Segment 1 right now !!!
Q1. Can you please introduce yourself and share a quick overview of 5ire?

Utkarsh Dubey – Content/Social Media Head: Yes, absolutely.
Well, I have personally been into internet marketing and content for more than 5 years. Have been doing affiliate, native, Facebook, Google ads and whatnot, before I joined 5ire.

Aman Parashar – Marketing manager: I work closely with 5ire’s CMO as a 5ire’s Marketing Manager. It’s been 6 years since I have been into affiliate marketing, e-commerce, native, Google Ads etc.

Talking about 5ire:
5ireChain is a tier 1 high-performance distributed computing platform with lavish runtime functionalities oriented towards sustainability at the consensus level.

5ireChain is a blockchain ecosystem that brings sustainability, technology & innovation to build the 5th industrial revolution by ensuring that the activities which are aligned with the UN 17 Sustainable Development Goals either on-chain or in the real world are highly incentivized. Hence, actions in the 5ireChain adhere to the philosophy of 5th Industrial Revolution, creating a net positive impact on the planet.

5ire works towards empowering more than 1billion+ people to create businesses that act as force for good and help create a more sustainable and greener world.

Yuno – Blockelite Host: Thank you, for your introduction, our pleasure to have you join us today
Next question
Q2. We know 5ire wants to build a Fifth-generation blockchain, can you explain more about 5irechain and what is the unique, improvement that your project wants to bring?

Aman Parashar – Marketing manager: I think I pretty much covered the answer for same in the question above.

Like I said, 5irechai works towards bringing sustainability, tech and innovation to build the 5th Industrial Revolution

Yuno – Blockelite Host: Okay, next question
Q3. Who are the current notable partners for 5ire and what about the capital strength of your project?

Aman Parashar – Marketing manager: Yes, yes, on the same note first, I just want to share that we are deeply humbled by the belief that all our partners have shown in us. Not forgetting the role of the community who have been exceptional and play a core part in our ideology.

With that being said, yes, there has been attraction from some of the renowned VCs in the space.

BFF
Alphabit
Marshland
Safe launch
Moonrock Capital
Magnus Capital
OIG
DaoStarter

Are some of the firms 🙂

We recently raised $100M from Global Emerging Markets Group.

Yuno – Blockelite Host: wow $100 milion, nice
Thanks for sharing, Everyone can read more it here https://t.me/Fire_Announcements/465

Aman Parashar – Marketing manager: Yes, feel free to share it on all your social media channels

Yuno – Blockelite Host: Sure 🙂
Next question
Q4. Can you explain to us about tokenomics and utilities of 5ire token?

Aman Parashar – Marketing manager: 5ire is not just a utility token but an ecosystem of blockchain solutions that organically grow to become a multi-chain realm for building the 5th industrial revolution, investors are assured of their inclusivity in the ecosystem by getting rewarded for each active participation they provide to the ecosystem, while Proof of 5ire assure to reward validators nodes based on their sustainability best practices, 5ire want to prove a thesis “You can be abundant while doing more good”.

The 5IRE utility token serves as a central unit of staking and exchange. These tokens are used for governance, staking, and other network utilities.

Economics: 5ireChain will mint or burn tokens to fund the treasury, control the inflation rate, or reward the nodes that run the consensus protocol.

Staking: Tokens will be used to incentivize validators and nominators, based on the Nominated Proof-of-Stake reward distribution mechanism.

Slashing: Tokens also play a role in the slashing protocols designed to disincentivize attacks or adversarial behavior.

Incentivized distributed data storage (IPFS): 5ire tokens are used in the incentive mechanism of nodes, as per data storage.

Incentivized data exchange & analytics: 5ire network provides data exchange and pricing marketplaces for data providers & consumers.

You can read in detail about our tokenomics here:
https://drive.google.com/file/d/1SzZ66EEfPH2CTSHMb9K0IBzdyFurT9hx/view

Yuno – Blockelite Host: Continue with Q5
Q5. What are your marketing plans to attract more users and especially non-crypto users, and developers to come to your blockchain?

Utkarsh Dubey – Content/Social Media Head: All the Vietnamese folks, we have a community, especially for you guys.
Please join here ➡️ @firevietnam

Aman Parashar – Marketing manager: For non-crypto users we are launching 5ire school ( A place where you can learn all about blockchain and crypto world fromm the scratch). We are also organizing hackathon to attract developers.

If there are any developers in this community they cann apply for 5ire hackathon here:
https://hackathon.5ire.org/

Yuno – Blockelite Host: Last question in semgnet 1
Q6. What’s the next roadmap that 5ire is working towards for 2022?

Aman Parashar – Marketing manager: Our main focus currently is the product – our team is working meticulously on the same. You can expect the main-net to arrive in Q3 or Q4.
There has been a lot going on actually:

  • 5ire is now the first layer 1 ever to sign MOUs with the governments around the world.
  • Our advisory board has grown and we now have an experience-studded advisory board with big names like Jeff Hoffman, Raj Kapoor, Ed Martin, now added to the list.
    We will also have our IDO very soon – so keep an eye out for that too.

Yuno – Blockelite Host: We wrapped up nicely the first part.
Are you ready for Segment 2 (5 best questions from twitter)?

Aman Parashar – Marketing manager: Sure

Yuno – Blockelite Host: Our guest is ready, we will start Segment 2 right now !!!
Q1: Why do you think 5ire is a gateway in the world’s smooth transition from 4IR to 5IR? Can you share with investors about technology as well as 5ire’s lingo so they can better understand 5ire?

Aman Parashar – Marketing manager: In contrast to trends in the Fourth Industrial Revolution toward dehumanization, technology, and innovation, best practices need to be bent back toward the service of humanity. As organizations and society look beyond the 4IR, we need to make “conscious choices” to ensure we create a place where profits, purpose, and people can thrive together.

Organizations must remain profitable to fulfil their purpose and invest in growth and their people. For us to move confidently as a collective beyond the 4IR, it is time to integrate purpose and unlock latent human potential by connecting individuals’ purpose and passions to a shared vision, and foster a community of action – and this is where 5ire comes in.

5ireChain, is on a mission to change the world. It is the first blockchain ecosystem that caters to the never-before solved problem of sustainability, and creates a platform to leapfrog from the current Industry 4.0 to Industry 5.0 – where businesses act as a force for good; and profits & benefits co-exist.

We want to work towards empowering more than 1billion+ people to create businesses that act as a force for good and help create a more sustainable and greener world.

Yuno – Blockelite Host: Next question
Q2: 5ireChain has another focus on DAOs & Governance, the purpose of providing tools and solutions to large companies and government entities and somehow lead them on the path of decentralization, you believes that this could be the path for adoption massive blockchain?

Aman Parashar – Marketing manager: Yes, we do. 5irechain has already been adopted by several Governments (India, Nigeria and U.S.A).

Yuno – Blockelite Host: Next question
Q3: I see that 5irechain is using what is known as hybrid consensus, combining BABE and GRANDPA mechanism. Can you tell us more about this consensus mechanism?How does your platform utilizes this hybrid consensus mechanicsm?Any advantages and benefits does it bring to your platform?

Aman Parashar – Marketing manager: 5irechain is using what is known as hybrid consensus, combining BABE and GRANDPA for block production and provable finality respectively, allowing fast block production and higher levels of security.

By our sustainable vision, the 5ire reputation mechanism allows universal and canonical guidance for the network and the real world activities, and direct those activities toward a for-benefit focused paradigm, in which appealing to the 17 United Nations Sustainable Development Goals is highly rewarding for all the actors, while maintaining speed and transaction throughput better than any standard Proof-Of-Stake scheme and high levels of security and efficiency never attained by neither PoW’s nor PoS’s.

All of this in the most human-focused sustainable way where bringing value to existence is highly incentivized.

Yuno – Blockelite Host: Thanks for answer, continue with Q4
Q4: With the current market, there are countless projects open to sell ido but the price has dropped significantly compared to the asking price, so the project has a plan to support or keep the token price in the future?

Aman Parashar – Marketing manager: We postponed our IDO which was supposed to happen in January to later March keeping the market sentiments in mind.
You can read more about it here: https://t.me/Fire_Announcements/342

Yuno – Blockelite Host: Can’t wait to the IDO
Ok, last question of this segment, everyone please prepare good questions for segment 3.
Q5: What is the real goal that 5ireChain is pursuing? How does the community help you achieve that goal? Who are you aiming 5ireChain ?

Aman Parashar – Marketing manager: The Main Goal is to empower more than 1billion+ people to create businesses that act as force for good and help create a more sustainable and greener world.
Community plays an important role for in success and failure of any project.

Yuno – Blockelite Host: You are awesome, thanks for answer all 5 best questions from twitter of my community.
Last Segment for AMA today, The guests will select 5 best questions from the community.

Blockelite community:
What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?

Aman Parashar – Marketing manager:
Q1 – 2022

• Smart Contract Functionality (WASM Rust-based Ink! & EVM Solidity). ✅

• 5IRE IDO

• 5ire Wallet and Explorer. ✅

Blockelite community:
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?

Aman Parashar – Marketing manager: You can follow us here :
Official Telegram Group: @officialfirechain
Official Announcement Channel – @Fire_Announcements
Twitter – https://twitter.com/5ireChain
Medium – https://blog.5ire.com
Reddit – https://www.reddit.com/r/5ireChain
Instagram – https://instagram.com/5ireChain

You can follow our Vietnamese Community :https://t.me/firevietnam

Blockelite community:
Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Aman Parashar – Marketing manager: With regards to its open source or corporate competitors, 5ireChain is superior in the following ways :

  • Stronger security guarantee
  • Sustainability by design
  • First movers in the market
  • More Decentralised
  • Better Governance & Democracy
  • Easier Upgradeability
  • Faster Transaction Speed

Here is our comparison report: https://t.me/Fire_Announcements/310

Blockelite community:
Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?

Aman Parashar – Marketing manager: Yes we do, we believe that it is oe of the key features ad duty to be available and hear what your community has to say about you. Feedback from somehow helps shapen the path of a project.

Blockelite community:
Where can I currently buy Token?

Aman Parashar – Marketing manager: We’ll be announcing our IDO soon. Stay Tuned!

Yuno – Blockelite Host: Thank you for joining today AMA! It was awesome
Our AMA session is now over !!!