14:00 on May 11th, we invited GameChain Chinese community node and CEO of Feibai Technology, Mr Li HuaWei as guest of the block community. As theme of AMA for this time "GameChain-Empower traditional Gaming Industry with Blockchain". everything you want to know will be answering by Mr. Li.

Guest Introduction

Mr Li HuaWei, Ph.D. in Finance, CEO of Feibai Technology, served Huawei senior engineer, Apple automation engineer, Zhongguancun Online senior engineer, early bitcoin holder, serial entrepreneur, blockchain believer and token economy practitioner.

Host: Hello Mr Li, you have established the Feibai Technology in 2017, dedicated to the gaming + blockchain industry. Can you talk about the original intention of choosing to enter the blockchain and serving the game industry?

Li Huawei: The power of science and technology can be felt by everyone, from cash payment to barcode scanning, from 2G era to 5G era, from shopping out to shop Taobao at home, every bit of change are behind the times Change. And I have been engaged into the Internet technology industry, whether it is Huawei, Apple or Zhongguancun, there are the sign of technological power. Not exaggeration, Bitcoin is an unparalleled masterpiece of my time. Ever since 2014 followed bitcoin till now, and it has given me a lot of surprises. It has promoted the development of blockchain technology, so that blockchain technology can serve more on other fields.  As today in 2020, the term blockchain is well known, and everyone has great enthusiasm for blockchain technology. This is what I agree with. Blockchain has makes non-exchangeable data and exchangeable value as can be achievable. Regarding the game, I believed that there are many people who like it. And I also like gaming very much, as a senior game player, and I also have certain advantages in technology. Based on my understanding of gaming, Internet and blockchain that I am familiar with, I want to make a little contribution to the gaming industry, hoping to combine blockchain and gaming will giving to the public a better gaming experience.

Host: As we all know, there are many game-related blockchain projects in the industry. What do you think are the problems in this gaming industry? What do you think of the future development prospects of the gaming industry?

Mr Li Huawei: For current traditional gaming industry, the problems that have existed in recent years are basically as those points:

First: The gaming industry is monopolized

In 2019, As the game maker rankings, the Chinese market is monopolized by these two companies, Tencent is far ahead, and NetEase ranks second. In addition to these two major game manufacturers, there are still many of low-profile gaming companies which are also a major problem facing the current gaming industry.

Second: Gaming developers forced to reduce quality of the games

Current gaming developers are subject to the high channel fees of platform distributors, and their profits have been greatly reduced. As early, the channel fee only charged 30% of the turnover. With the increase of gaming developers and the intensification of competition, it has increased to 70% or even 90% in the later period. As channel fees become higher and higher, so gaming developers must reduce the quality of the game.

Third: high player acquisition costs

Game manufacturers must repeatedly pay advertising fees, and often contact repeated users, there is fraudulent advertising traffic, in order to defraud the advertising costs of gaming developers, and almost all media and communities charge extremely high fees for advertising in the gaming industry.

Fourth: Gamers are only consuming, and cannot participate sharing the wealth of the gaming industry

It is extremely unfair for gamers to make great contributions to the development of game companies, but they are just wealthy watchers who cannot participate in the distribution of core interests in the gaming industry.

The game industry will maintain continuous growing in the future. The development of games, the promotion of game channels, the redistribution of game profits, and the reshaping of the game ecosystem will all undergo tremendous development. In this process, the blockchain will making the exchange of value a huge promote.

Host: I would like to ask Mr Li, what was your original intention to become GameChain's first node in China?

Mr Li Huawei: The original intention of joining GameChain in the form of nodes stems and recognition of GameChain technology and design concepts. GameChain's design concept is to use the power of the community to bring high-quality games directly to players, let players spend lesser, allow game manufacturers to earn more, and use blockchain to empower traditional gaming.

And GameChain's technology is also based on the overall structure of the main chain + transaction chain + n × parallel sub-chain multi-layer chain architecture, different chains emphasize different positioning and role.

To the extent that I recognized, GameChain's technology is very innovative on public chains and alliance chains. GameChain and Poka Chain are somewhat similar in design concepts, which is why I am willing to join GameChain as a node.

Host: As Mr Li mentioned earlier about the technical architecture of GameChain. I believe that many people are interested in GameChain ’s technology. Can you give everyone a general idea of ​​the core technology of GameChain?

Mr Li Huawei: The GameChain community will gradually open source the core code of GameChain. GameChain adopts a multi-layer chain architecture of main chain + transaction chain + n × parallel sub-chain from the overall architecture. Different chains emphasize different positioning and functions.

Among them, the main chain and transaction chain adopt the BPoS-PBFT consensus mechanism, that is a practical Byzantine fault-tolerant algorithm based on authorized delegation of rights and interests to maintain the characteristics of high security, high robustness and high response rate of the main chain and transaction chain.

The transaction chain is an important component of the GameChain multi-layer chain architecture. It is responsible for providing an on-chain transaction platform for the entire ecosystem. The transaction chain itself is maintained by the consensus node of the main chain, paying more attention to transaction performance, and is designed for high-performance DEX.

All items and props in the parallel sub-chain game can be cross chain. to the main chain, and then transferred to the transaction chain for trading. The transaction chain itself has the function of quickly achieving irreversible confirmation, and regularly sets Checkpoint and snapshots, so it is very suitable for important game and prop transactions on the chain.

Parallel sub-chains are important links. Through intensive cultivation of the gaming industry, we found that different games have different requirements for blockchain. A unified blockchain is difficult to take care of the needs for each game. For example, some games only require blockchain as a random number verification tool to improve the credibility of the game, but others have game logic and currency systems based on blockchain, and some games required blockchain as a valuable Infrastructure for the chaining of items and props.

In GameChain's framework design, each game easily by using blockchain technology at low cost, and can be customized according to the game, and using the customized parallel sub-chain provided by GameChain. The above three constitute the technical architecture of GameChain, which is used to support the positive cycle of GC token economy and allows GameChain to run steadily.

Host: Many blockchain projects have their own tokens, and Mr Li has just mentioned GC token economic model. Can Mr Li introduce the GameChain token economic model?

Li Huawei: In the blockchain project, the design of the Token economic model is very important. Token will always penetrate the entire upstream and downstream ecology of the blockchain project. As a community member of GameChain, I will be trying to answer the GC token design for everyone.

GameChain Coin (abbreviated as GC) is a token issued by GameChain, which represents the rights and interests of users in the community, including voting, payment, rewards, etc., and used to pay for resources on the GameChain’s chain. The total number of GC is set to 5 billion and will never be reissued. With more and more game platforms, game companies, game communities, game developers, etc. will joining the GameChain Alliance, GC also will be realizing the global game digital asset exchange in the future.

Block producers reward 5%

It is used to reward the block-generating node to maintain the account. In order to maintain long-term operation, block-generating reward will be halved every two years.

Ecological construction 15%

Expenses for maintaining ecological construction, including the cost of publicity and planning, such as advertising investment, airdrop activities, game clubs, district construction, etc.

Foundation 5%

It is used to maintain the operation of the foundation. The GC holder will be locked for two years, and then releases 20% each year, which will be released in five years.

The team holds 5%

It is used to maintain the operation of the team and set team rewards. After unlocking, the team will discuss the distribution method by itself. The GC held by the term will be lock the position for two years, and then releases 20% each year, which is released in five years.

Ecological mining reward 70%

The incentive for game mining is to distribute game mining rewards to community builders and ecological nodes, such as reward game players, game guilds, game developers, etc., platform users can play, consume, share, promote and complete into other tasks.

In the concept of token economy, the output of each token will have corresponding value support. GC ’s token design also considers game manufacturers, channel platforms, and game players. There is a separate token generation and distribution mechanism. During the game process, the user and user confirmation, contribution, promotion of game channels, contribution, and revenue of game developers, etc. through the blockchain value exchange method, making the game ecology more transparent, so that practitioners have stronger motivation. The idea of ​​matching production with the blockchain and its matching is the actual performance of the blockchain industry landing.

Host: In fact, there are a lot of game public chains on the market, and many games have been launched, so Mr Li always thinks what is the difference between GameChain and other public chains? Where are the advantages?

Mr Li Huawei: At present, there are many projects combining blockchain and games in the market. At first, everyone thought that blockchain gaming was a game for auction and trading in rare asset. As the AR game “Let’s Catch The Demon” released by Tencent last year, their result should be known by everyone.

Another popular game is the gambling game, such as dice game, baccarat etc., and the game developer running the traditional gambling game in the blockchain by using smart contracts, but there is caused dangerous. The Fomo3D game which based on Ethereum was deeply affected and it was finally lost. Another example is that most of the well-known gambling applications on the EOS public chain have been hacked. According to the statistics of the "hacked archives”, the attacks on the EOS applications have caused more than 10 million US dollars in losses.

The GameChain's design concept is another way. For gaming, the construction of the game community and the quality of the game are the two most important aspects. GameChain not only serves players, but also game developers and publishers. GameChain will break through the boundaries between games, provide a bridge between gaming, provide game asset exchange services, and allow players to switch games freely with accumulated game equipment.

GameChain will leading each game to carry out chain reform, publicize game props on the chain, so that all players will see the total amount and distribution on chain. Each game will have its own parallel sub-chain, they are parallel to each other, which not interfere with each other, and guaranteed independent security.

GameChain runs through it, linking each game to expand the chain in parallel. In addition, GameChain also has a side chain trading chain dedicated to trading props, which is used to share the trading pressure on the main chain. It is also a parallel trading chain with a built-in DEX exchange on GameChain.

In GameChain, we will be developing a multi-layer consensus system for gaming and choose according to the needs of different games. These fully reflected to difference between GameChain and other game chains, and the advantages are obvious. The most important advantage is that GameChain has the resources of game developers in various countries. At this point, I believe that it can completely beat the current game chain in the blockchain industry. Among them is the addition of our 16169 game developer node in China.

Host: It seems that GameChain has joined the Chinese node. As Mr Li joined in, which like a tiger comes with the winds, much stronger than others. Would like to ask how many games are currently launched on the domestic 16169 platform, what are the best quality games, and the online games will bring GameChain into what kind of value?

Mr Li Huawei: At present, there are 50+ mobile phone games and dozens of H5 games on the 16169 platform. Among them, the phantom soul, the glory of flames, the biography of the Three Kingdoms, the reincarnation of the great holy, the sword of the angel, and the wind of cuteness are all well-known explosive games.

China is the world ’s most populous country. Gamers have exceeded 600 million. With the development of our 16169, the launch of many games will bring more game manufacturers, game promotion channels, and numerous game clubs into the GameChain game ecosystem. Groups and game players will provide substantial contributions to the data accumulation of the GameChain game chain and cultivate many currency users to join into the GameChain’s game ecosystem.

Host: It seems that the relationship between the public chain and the nodes is complementary, a high-quality node can bring a lot of value to the public chain. Can you reveal the partners and what kind of partners will be with GC in future?

Mr Li Huawei: Yes, the node is the soul of the public chain. At present, the current nodes of GameChain include the 16169 game platform in China, the slag game platform, and the quiz game in the Philippines. In future, it will also including game distribution, e-sports, CP, guild, players, transactions, sparring, live broadcast, IP copyright, Information and surrounding industries.

As far as I understand, Currently GameChain is negotiating with South Korea's Samsung Games and Indonesia Telecom's game center, soon will able to connect without incident, and become one of the GameChain nodes. There will be resources sharing between nodes, and at the same time, our 16169 platform will also be looking forward and willing to share resources with other nodes

Host: Great! The markets in South Korea and Indonesia are ready. The next step is when the currency will be listed. This issue is also of great concern to everyone. Has GameChain ever told you before? If so, can you share it with everyone ~

Li Huawei: The GameChain community is expected to submit a listing application to the top ten exchanges in the world and the top three exchanges in Indonesia in late May. Without exception, the exchange is expected to be launched in the middle and late June.