Starcoin 2.0 Testnet Phase II: FlexiDAG Premining AMA with Coin Home

Introduction

Host: I’m Cicily, the voice of CoinHome Exchange, and I’m honored to be the host of today’s meeting.

Polestar: Hello, nice to see you here!

Host: Today we have invited several core members of the Starcoin project team, and we hope that today’s communication can gain a deeper understanding of Coinhome and the Starcoin Network, and explore the cooperation between the two projects in the future.

Now, let’s start the meeting.

The Starcoin team can briefly introduce themselves.

Polestar: Thank you Cicily. Happy to be here. I’m Polestar, the Starcoin community manager. And joining me is my partner Buchii, our engagement manager.

Buchii: Hello everyone. Lovely to meet with this energetic community!

Polestar: We’re excited to present the Starcoin project to you today.

Host: Thanks Polestar, and welcome.

Polestar: Before we start, we will briefly mute the group from now on, to ensure a smooth AMA,and lift the restriction during the Q&A session. Thank you for understanding.

Host: Let’s begin our AMA for today. Can you provide a brief overview of Starcoin for those who might be new to the project?

Polestar: Sure. Starcoin provides the utmost security from the origin via its enhanced PoW consensus and Secure smart contract, using the language of Move.

Through layered and flexible interoperability, it optimizes the building of ecosystems such as DeFi, NFTs, Gaming, etc. with higher efficiency and convenience. This process redefines value by empowering every participant in the ecosystem to enjoy the multiplication of values.

Host: Wow. Really cool. You mentioned enhanced Proof-of-Work. Could you elaborate on the specific improvements made and how they contribute to the network’s performance?

Buchii: Sure. I’ll take that.

Starcoin’s adaptation of Proof of Work is capable of dynamically adjusting block time and block size. What this means is we are not bound to a strict 10 mins per block system like bitcoin PoW. Our algorithm is enhanced to respond to network conditions faster and adjust itself. A true beacon of hope for PoW ecosystem.

Polestar: yes. Starcoin, since its mainnet launch, has been dedicated to ensuring both security and high performance in the blockchain space.

While continuously enhancing the Proof-of-Work (PoW) model, the project has been exploring the potential of the Move smart contract language, optimizing its infrastructure comprehensively.

Our mission is to assist users in safeguarding their digital investments with secure, authentic, and scalable Web3 solutions. Our network goes beyond typical vulnerabilities like reentrancy attacks and overflows, which annually cost investors millions due to hacks.

To achieve this, we’ve enhanced the original PoW mechanism for speed, coupled with developer-friendly tools on a safety-oriented language like Move.

This supports diversification and enables investors to explore more opportunities without concern.

Host: This is so exciting, incredible! Congratulations on the recent upgrade to Starcoin 2.0. Could you provide us with more insights or information about this and the Pre-mining event?

Buchii: Yes. Thank you. Starcoin 2.0 introduces a revolutionary DAG consensus algorithm, FlexiDAG, along with new transaction parallelism technology, TurboSTM.

This results in a remarkable TPS increase of over 100 times. Our engineers’ prowess in parallel blockchain solutions will be fully unleashed with Starcoin 2.0 through a series of testing rounds with our community. Plus rewards will be allocated for each round.

We have just had a round that has commenced to test the first of our parallel solutions via the FlexiDAG Pre-mining event. The entire community is invited to participate!

Host: Thank you for sharing such a good project and event for us! We’ve now come to the Q&A part, It’s open to any questions about Starcoin or FlexiDAG, and Buchii will answer the questions.

Q&A Session:

1. Q: Did you say the Language is resource-oriented?

A: On the Move Language, assets are treated as resources. Labeling something as a “resource” tells the programming environment that this data structure represents something of tangible value and that all code that interacts with that data structure needs to follow a series of special rules to maintain that data structure’s value. Hence digital assets can’t be counterfeited or copied randomly

2. Q: I will love to know, why did Starcoin choose to build on Move?

A: Starcoin’s core ideology is to transform the ways people interact with and gain value in Web3. One important area to solve is security. Move is resource-oriented and flexible, among other safety-focused features.

3. Q: Kaspa project is another project that uses DAG technology, and similar with you in PoW ecosystem. What is the difference between their GHOSTDAG and Starcoin’s FlexiDAG?

A: Our new feature, FlexiDAG incorporates the Directed Acyclic Graph structure, an emerging paradigm focused on scalability to revolutionize Blockchain and distributed ledgers

4. Q: I have noticed that the Kaspa project also uses DAG technology, so what is the difference between their GHOSTDAG and Starcoin’s FlexiDAG?

A: This is a good question, many people may have recently noticed the $Kaspa project. Their GHOSTDAG has also attracted a lot of attention

I believe that there are still some people who are not very familiar with it. Here, I will provide a unified explanation.

a. Starcoin’s FlexiDag builds on our enhanced version of Bitcoin’s PoW, and FlexiDAG can dynamically adjust its block generation time to ensure optimal performance under different network conditions. This is unlike Kaspa’s constant block generation time.

b. We decentralize block rewards on merit according to various levels of contribution by blocks with the highest score and blocks that package sub-blocks, instead of Kaspa’s uniform method.

c. Starcoin account model differs from Kaspa’s UTXO model, therefore FlexiDAG is based on this model and offers a higher degree of programmability and flexibility for complex transactions

d. Starcoin’s FlexiDAG supports smart contracts based on Move Programming Language, which aligns with our vision for secure and scalable decentralized applications

Feel free guys to send us further inquiries in our official community

Thank you all for joining our Starcoin 2.0 Testnet Phase II: FlexiDAG Pre-Mining AMA

Join the FlexiDAG Premining Testnet while the window is open: https://github.com/starcoinorg/starcoin/discussions/3983