AMA RECAP : CRYPTO CHALLENGERS x 5IRE CHAIN
Venue : CryptoChallengersD
Date : 22 JULY 2022
Time : 02:00 PM UTC.
Guest: ASTHA SING & DEVANSH DUBEY
They shared detailed information and his opinions about the project 5IRE CHAIN
SEGMENT 1 INTRODUCTION.
1.Could we maybe start by getting a brief rundown on your project, for those who know next to nothing?
Devansh Dubey,
Okay so 5ireChain is a tier 1 high-performance distributed computing platform with lavish runtime functionalities oriented towards sustainability at the consensus level.
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.
Hence, actions in the 5ireChain adhere to the philosophy of 5th Industrial Revolution, creating a net positive impact on the planet.
2.Can you tell us more about how #5ireChain works? What problems is #5ireChain solving in blockchain?
There are various problems the technology still faces despite technological advancements. 5ire wants to address these problems and proposes a solution at the core of blockchain.
Like ever-rising climatic conditions and environmental damage
> Blockchains & Cryptocurrency not being sustainable.
> We want businesses to act as a force for good.
> Profits & Purpose don’t co-exist.
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.
In a world where sustainable businesses are becoming more and more profitable than nonsustainable businesses, we want to be prepared for the tipping point where the formers take over the latter.
Years down the line, we want to be the default blockchain people build on when it comes to sustianilibty in the crypto space
3.What is #5ireChain mission and vision?
5ireChain aims to be a blockchain ecosystem that combines sustainability, technology, and innovation to create the 5th industrial revolution by making sure that actions that support the UN’s 17 Sustainable Development Goals are strongly rewarded both on-chain and off-chain. As a result, actions in the 5ireChain follow the 5th Industrial Revolution’s philosophy and have a net positive effect on the environment.
4.What are the strengths of #5ireChain compared to other competitors?
Some of the most unique features of 5ireChain -
Assets
Allows anyone to create their own standard fungible and non-fungible tokens.
Multisignature
Allows multi-custodial account creation.
Atomic Swap
Allows anyone to swap asset tokens within 5ireChain and its supported ecosystem.
Unique Naming Service
Allows anyone to create a unique human-readable domain name.
and the most important
Proof of 5ire — our primary proposition and a really unique consensus mechanism, which includes proof of benefit, sustainable proof of stake and proof of donation stacked on top of each other to generate your proof of 5ire score.. It integrates sustainability at the core of blockchain and empowers nodes for sustainable practices, by incentivising them economically.
5.Can you tell us more about the project token, it’s features and usecases?
5ire Token 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 behaviors.
I want to add here if you feel anything was unclear to you,
feel free to join our official telegram group and ask your doubts there
JOIN HERE 👇👇👇
t.me/officialfirechain
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.
SEGMENT 2 TWITTER QUESTIONS.
1.I noticed that 5IRE relied on the completion of the Proof of Benefit incentive mechanism. What are the benefits that can be obtained from this mechanism for the community or investors?
So the proof of 5ire consensus mechanism is made of 5 elements
With this consensus mechanism we aim to solve the problem of sustainability,
Proof of Benefit is the reward mechanism for our consensus mechanism
if you want to learn more about this you can read our research paper at
https://www.researchgate.net/publication/360065827_Reward_Mechanism_in_5ire_Blockchain
2.With regards to marketing and business improvement, what are your objectives for the year? How would you mean to develop the different parts of the project? What makes financial backers need to put resources into your ecosystem?
We plan to do the IDO this year,
for that the our focus from the marketing side will be to onboard more KOLs and some tech marketers for our outreach + we aim to expand our socials by 200% before the IDO.
We also plan to expand our team after the $100M Raise we recently received from SRAM and MRAM group.
these are some photos from the event 😊
For the tech side we plan to exand our team as well,
as our mainnet development is at full pace we also plan to expand the ecosystem by buying more technologies and getting more technical partners onboarded.
3.How can users stay up to date with this project? Are there channels, including local communities, where users can get the latest updates?
https://twitter.com/Adiba43579868/status/1550164088755752961
YOU WILL GET UPDATES AT 👇
https://t.me/Fire_Announcements
But for others you can follow our socials!
JOIN US AT 👇👇👇
Medium (https://blog.5ire.org/) | Reddit (https://www.reddit.com/r/5ireChain/)| YouTube (https://www.youtube.com/5ireChainOfficial) |
Instagram (https://instagram.com/5ireChain) | Twitter (https://twitter.com/5ireChain) | LinkedIn (https://www.linkedin.com/company/5irechain) | Reddit (https://www.reddit.com/user/5ireChain/)
4.Many projects start but get stuck along the way, could you tell me if you plan to stay active and offer projects and opportunities to the community in the long term?
We definitely aim to go long term,
5ireChain will be an ecosystem working for the benefit of everyone, To become an ecosystem we can’t just call this as an short term project.
The adoptions and expansion at 5ireChain is a clear example of our current progress.
5.Are you considering listing on any exchange? Are there any major exchanges on your list? Also, are you negotiating with any brokers?
yes we’ll be on almost all tier 1 exchanges soon after launch,
we are already in talks with more exchanges too
SEGMENT 3 TELEGRAM LIVE.
Q1-Joshua,
Hello Sir Dubey
I’m interested in becoming a validator, how do i apply to become a VALIDATOR?
[In reply to Joshua]
You can go to our website for this
Q2-SOJOL ♔ 8 || marketer ||
Q.
Do you have a Tutorial videos so we can get to know your project more clearly.
&
Do you have a YouTube channel or something? Can you share it with us?
[In reply to SOJOL ♔ 8 || marketer ||]
We do have our YouTube channel search
5ireChain official for that
Q3-JUMANJI,
Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ? 🔥🔥🔥Hello PARTNERSHIP & COLLABORATIONS are the backbone in making every project more widespread. Can you list some of ur partners with US??
[In reply to JUMANJI]
You can find all our partners and advisors at https://www.5ire.org/about-5ire
Q4-ꜱᴏᴏʀᴀᴊ | ᴄ ɴ |,
What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
[In reply to ꜱᴏᴏʀᴀᴊ | ᴄ ɴ |]
Tech expansion
More hiring
Mainnet launch
Q4-Kala Hepi,
Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?
Devansh Dubey,
Just this point
YOU WILL GET ALL 5IRE UPDATES AT 👇
https://t.me/Fire_Announcements
But for others you can follow our socials!
JOIN US AT 👇👇👇
Medium | Reddit | YouTube |
Instagram | Twitter | LinkedIn | Reddit
