Hi there everyone!
Following some excellent questions in our official
Obsidian Platform Slack we have decided to share some key Q&A in advance of the pre-sale.
Does the Obsidian Platform have a plan for mainstream adoption?It is our goal to achieve mainstream adoption of the Obsidian Secure Messenger, that is going beyond crypto space and evolving OSM into a multi-platform application for smartphone use like Signal or WhatsApp. Consequently, the coin that powers the Obsidian network economy must find equally broad adoption as a token for payments in general.
How many initial ODN coins will there be, and how is that effected by PoS rewards?There will be a total coin emission of 98 million ODN for the ICO. Staking rewards are 10% of the initial amount of coins, i.e. 9.8 million per year. We plan to change the reward model later when we have gathered additional data about the obsidian network economy. Ideally we'd like to come to a zero-inflation and incentify node owners by transaction fees only.
Is ODN "The One Coin To Rule Them All"?“The One Coin To Rule Them All” - will there be any coin that achieves this feat? We can imagine that the future will see a multitude of widely used coins, such as we see many fiat currencies in the world today. I believe, quick exchange from one currency to the other, perhaps in-wallet, might be where we are going. Owning a bundle or portfolio of crypto currencies seems economically reasonable to me, as it reduces total risk. It's also possible that crypto currencies take off in such a way, and I hope that, so then one blockchain can never be enough to provide the total capacity needed.
Will ODN have smart contracts like Ethereum?Stratis will also be implementing a solution for smart contracts, based on dotnet. However, we in general consider that smart contracts, at least on the main chain, are not yet a fully proven concept. We will likely approach this from the side, and they would initially be introduced based on actual use cases, (for OSM in particular), we want to enable with them.
Will ODN be minted in perpetuity?No. Our current concept is to reduce inflation to zero over the next three years, possibly in less time than that. The high staking reward is in place initially to encourage rapid growth and build a strong foundation network, will the help of a wide range of stakers, large and small.
What is the innovation story for the ODN coin?A key innovation with our ODN coin is as follows. We believe that we have already chosen an exceptionally good base - Stratis, which is in turn based on Bitcoin. We plan to maintain this connection and steadily pull all proven innovations from these sources to ODN, too. Examples include SegWit and Lightning networks. In addition, we will review the features which may improve our application(s) and services, such as enabling very lightweight mobile wallets in the Obsidian Secure Messenger (OSM).
We really appreciate all the early community involvement which we continue to warmly welcome. Look forward to speaking with you all. Good luck in our
ODN pre-sale!
