Thank you to everyone who joined AMA Blockelite x BitDNS on 25th December at 9:30 AM UTC I 4:30 PM UTC+7. Here is the recap for those who missed this AMA.
So ladies and gents, Our special guest today is Kingsley Low – CTO of BitDNS
Segment 1: Introduction about BitDNS and Kingsley Low – CTO of BitDNS
Q1: Can you briefly introduce yourself as well as BitDNS?
Kingsley Low – CTO of BitDNS: My name is Kingsley, I am the CTO of BitDNS.
I started my career in the after-market service and reverse logistics industry for more than 20 years. I’m involved in various operations and several ERP software development projects.
After that I joined the fintech space, in various start-up and blockchain projects.
From there, I have been building several apps and ERP solutions for the enterprises.
BitDNS is a new generation of distributed domain name resolution based on blockchain technology.
Our vision is to develop a decentralised network ecosystem and using it to build the core infrastructure for Dweb4.0.
Blockelite Host: What is the Dweb4.0?
Kingsley Low – CTO of BitDNS: DWeb4.0 can be seen as a combination upgrade of web3.0 and Dweb.
Web3.0 emphasizes more on data protection, while DWeb emphasizes on decentralization.
Q2: How does the BitDNS platform work? What solutions can BitDNS bring and will it be useful in the future?
Kingsley Low – CTO of BitDNS: BitDNS is using distributed DNS system based on blockchain technology, using smart contract of the public chain to store domain name information
In future, we will offer content based services like Elastic computing,Distributed AI computing, Distributed application components like database, storage, and etc.
These can be used to run decentralised cloud computing for web application, mobile app server, and etc.
BitDNS’s domain name resolution technology will be the key interconnection tool for decentralized cloud computing platform.
Q3. Who are the competitors of BitDNS? How are BitDNS better than them?
Kingsley Low – CTO of BitDNS: One of the competitors of BitDNS is Ethereum ENS where they are popular in providing name resolution for the ethereum address.
BitDNS are not only providing decentralized DNS, our vision is to develop a decentralized network ecosystem and use it to build the core infrastructure for Dweb4.0.
Hence we are offering the services like decentralized Cloud Computing Platform and etc to support Dweb 4.0.
Blockelite Host: What role does $DNS token play in the ecosystem?
Kingsley Low – CTO of BitDNS: The most basic this $DNS token can be use for transactions within the ecosystem and much more purposes. We will share with you guys.
So please keep checking on our telegram and website.
Q4: Yesterday, the new mining pool of BitDNS was launched. Can you briefly give more info about it?
Kingsley Low – CTO of BitDNS: Yes, the Corn.BitDNS mining platform has been available for nearly two months. Up to now, the platform has accumulated a deposit of 15 million USDT and the highest APY of the mining pool has reached 5000%. As the first valuable DeFi application, Corn.BitDNS has attracted nearly 1,000 users which participated in the mining.
Welcome everyone to experience our mining products.
We also welcome everyone to join our telegram group and to communicate with us:
Telegram group address: https://t.me/bitdnsenglish
Q5: What is the market strategy of BitDNS to build community and attract users to use your platform?
Kingsley Low – CTO of BitDNS: Our marketing team are working very hard , we planning for airdrops, more AMA and live events to engage with community and partnership with others blockchain projects.
We believe this will attract in more community users from others projects.
Segment 2: 5 best questions from Twitter
Q1: What is the vision and mission of BitDNS ? What problems are you trying to solve? Do these problems remain unsolved with the existing public blockchains?
Kingsley Low – CTO of BitDNS: Our vision is to develop a decentralized network ecosystem and using it to build the core infrastructure for the Dweb4.0.
The current issue with the centralized DNS and Cloud Computing Platform is the main root cause of the service disruptions.
Many of the existing public blockchains are stand alone projects , having scalability issue, difficult to intergrate with the legacy system and etc.
Q2: What do I need to create my own domain? Is it mandatory to run a node to have my domain? Do people need to have web 3 wallets to access my web pages?
Kingsley Low – CTO of BitDNS: You can register an account from our BitDNS domain name registation system. There is no need to run a node, you can use BitUID (Its BitDNS wallet that integrated distributed internet user identification system) to perform transactions and purchase of domain name and other services.
Once the domain is purchased, you just need to point it to your server or to our decentralized Cloud Computing Platform to host your webpages.
The users can just type the domain into the browser, and our Distributed Domain Name Resolution will translate the name and connect to your web server.
Q3: Do you have any plans to attract non-crypto investors to BITDNS and how? What are the actions to increase awareness around BITDNS in non-crypto space?
Kingsley Low – CTO of BitDNS: Two weeks ago DBS Bank in Singapore just launched Digital exchange for Cryptocurrency exchange. Which is touted as the world first Bank to allow trading of cryptocurrency and fiat.
This came shortly after MAS (Monetary Authority of Singapore) awarded two Digital Banking license.
This is a huge step forward in the crypto space, where more and more traditional institution investors and users are going into the Crypto space.
Our marketing team is working hard planning many events and activities, with the above news its definitely will help us to drive up and raise awareness about BitDNS.
Our decentralized DNS and decentralized Cloud Computing Platform that offer comparable performance to the centralised cloud server will attract more enterprises, startup and Dapps develope to use our services.
Q4: Why DNS need decentralize, how would be DNS looking like when DNS will become fully decentralised and how would it work i.e. who’ll be your helping hand? Something like BTC miners? Or some other guys will be introduced?
Kingsley Low – CTO of BitDNS: Decentralization will prevent censorship, service disruption and etc.
Let me share more about the BitDNS decentralized Cloud Computing Platform. The BitDNS Cloud platform is like a large pool of mining machines but running on a special software that will serve as the purpose for the decentralized server.
Just like Bitcoin mining, anyone can obtain incentive by sharing their computing power to the BitDNS network.
Q5: Could you give me 2 or 3 key points to convince me and other angel investors invest in BITDNS in long-term?
Kingsley Low – CTO of BitDNS: When you think about BitDNS, think about Amazon AWS and Godaddy in their early start-up days.
Look at where are they today.
The services that BitDNS offers are much more than both companies offers and we are doing it in the Decentralized world.
Segment 3: Live questions. BitDNS team will select the 5 best questions and answer them
Q1: Are any new exchange listing planned? And what are the planned time frames for listing on the exchanges?
Kingsley Low – CTO of BitDNS: I think this is what the most of crypto investors want to hear.
Yes we are planning and working on the exchange listing but due to NDA we can’t disclose the information yet.
Please check on our website and telegram channel for update, we will announce it once the it’s finalise and confirm.
Q2: If we talk about cryptocurrencies- there are many regulations- how does the BitDNS team deal with regulations where too many laws and regulations are used by the currency system in certain countries?
Kingsley Low – CTO of BitDNS: This is the hot topic. For BitDNS we strategically choose Singapore to be our based.
We are legitimate company with the high prospect projects, if we can pass the very strict Singapore law and regulations then it will be easier for us to do it in others countries, moreover Singapore government is very supportive in Blockchain Technology.
Q3: How much will the minimum price of each domain really be? Will it be required to have a certain amount of CORN tokens and be part of the BitDNS stake to acquire it? or will you get VIP packages with it?
Kingsley Low – CTO of BitDNS: The pricing information is not finalise yet, the price has to be competitive. We will definitely offer incentives and special programs for the early investors who is holding our CORN & DNS tokens.
Q4: The Transctions Speed is an issue for blockchain besides scalability. Does BitDNS provide a solution for Transctions Speed?
Kingsley Low – CTO of BitDNS: Yes transactions speed is one of the factors in deciding which blockchain to use, many public chains has limitations on the speed and scalability. Therefore we have to use side chains that is specifically designed for our need.
Q5: How will BitDNS team target and educate people who don’t know about blockchain and crypto?
Kingsley Low – CTO of BitDNS: This is the challenges on how we should design the user interface of our system.
Most of the current blockchain projects required user to enter specific key and steps.
So for our project the UI/UX has to be very clear and process should very straightforward.
We have to design the system to cater for both crypto and none crypto users.
Our AMA session is now over !!!
More information about BitDNS