Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Gather Network, on September 16th at 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Reggie Jerath, the CEO and the founder of Gather Network. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Reggie Jerath: Hi, I’m Reggie Jerath, the CEO and the founder of Gather Network. I’m a serial entrepreneur, leadership and management professional, and an accredited chartered manager from the Chartered Management Institute. I have scaled startups from idea to growth stage with revenues reaching as high as 200,000 USD per month. I lead teams varying from ten to two hundred people of a multidisciplinary background. My career also includes stints at MSLgroup and other large integrated agencies where he handled medium to large scale public, private, and NGO accounts. I’ve been managing the Gather Network since 2017.
Introduction Questions Asked By BlockTalks
Q1. Could you please introduce Gather Network to our community in layman’s term?
Gather is a platform that allows publishers to monetize without ads, provides businesses & developers to access cheap and reliable processing power.
Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.
Q2. What are the advantages of Gather Network to other alternatives in the Blockchain field?
Ans — 1- Gather Online can be easily integrated into websites/apps with no pain.
2- Gather Online allows website/app owners to generate additional revenue on top of digital ads, or let them go ad-free for an enhanced user experience
3- Gather’s Loyalty program allows website/app owners to reward visitors in GTH/BTC or local fiat currency for the time they actually spend in websites/applications
4- Gather Cloud provides affordable cloud computing costs via processing power coming from publishers (there is no similar example in the competition)
5- Gather Cloud allows PoW blockchain developers to deploy without finding miners or building a mining community first
Q3. What are the major milestones Gather Network achieved so far & what are in the future pipeline?
Ans — Both for Gather Online and Gather Cloud, we will continue building new relationships with publishers, enterprises and PoW blockchain developers.
We already have around 200 publishing partners via Early Adopters Program so far, including names like ThePioneer (India’s oldest newspaper), TheDailyChain (a crypto news site) and Metalyfe (a new web browser). We will be running campaigns to raise the awareness of Gather Online as we get closer to the mainnet launch but in the meantime we will carry on and bring more partners with our B2B marketing efforts.
We’re currently testing Gather Cloud with Godrej Industries ($4B+ turnover) and we got ASAP Industries on board for the enterprise side. As part of our B2B business development efforts, we will also continue adding new enterprises.
Again for Gather Cloud, we are also building new connections with the other PoW blockchain teams where we can use their algorithms as part of our Merged Mining concept. For example, LUX chain is our first partner on this front.
It would be worthwhile to also mention about our Ambassador programs here where you can see on our website. These programs split into 4 groups, aiming to spread the reach for: Community, Gather Online, Gather Cloud-Enterprises and Gather Cloud-PoW Blockchain Developers.
We plan to bring our testnet live by the end of 2020, and move forward to our mainnet by March 2021.
Questions Asked on Twitter For Gather Network team!
Q1. Prevention of annoying ads to improve user experience and
How does the system work in reducing the transaction costs of processes with GatherCloud?
Ans — Gather Online is designed to reward the time spent in the websites and applications. As long as the web browser tab or the application is open, Gather Online works in the background, only after the user’s consent to opt in his/her processing power to the Gather Ecosystem.
With no middleman, Gather’s matching engine automates price discovery for workloads, making compute markets much more efficient. Based on our ongoing proof of concept, we will be able to offer up to 30% cheaper processing power to enterprises.
Q2. What is the relationship between Gather and Credits? How does Сredits contribute to the development of the project? What are the advantages of Сredits offers Gather Network and how does it make it more profitable?
Ans — The partnership was in relation to exploring different areas of blockchain, smart contract and IOT devices. This is more of a research driven partnership.
Q3. What are the main revenue streams generated by the GTH token?
What advantages do you get as a platform by relating your token to all aspects and products of the Gather Network ecosystem?
Ans — Gather generates revenue from all layers of the network, which includes publishers/websites/applications at the start and enterprises using gather cloud at the top. Gather will charge a commission to websites/publishers/applications using the Gather technology. The processing power generated from the websites, is then redirected to child chains through merge mining and/or enterprises on Gather Cloud. Hash rate leased out to child chains to increase their security will be lower than market price. Enterprises that are using Gather cloud will also be charged at a discount to market rate (determined by google/AWS rates) for the processing power used by them. The majority of this revenue will be redistributed back to the publishers with Gather keeping a small portion as the commission, and thus keeping profit linked directly to growth of the network. This creates a positive feedback loop where increased publishers using Gather online means more processing power can be redistributed through Gather cloud which in turn increases the revenue of Gather online users, attracting more customers to gather online leading to more processing power and so on.
Q4. The type of market chosen by the Gather Network is unusual,
how does the Gather Network benefit from the negotiation process between developers and publishers?
Who is responsible for rewarding participants?
Ans — There is no direct contact for negotiations between these parties. Gather Network takes the processing power from the publishers, reward them with GTH. On the other side of the cycle, Gather Network, received GTH from developers and enterprises to close the loop. This is all automated as per the revenue model explained in the previous question. Gather as an entity receives a commission for facilitating the marketplace. Similar to how Uber takes a commission on every trip.
Q5. Many people evaluate projects based on their token value, not the technologies/features the project possesses. How can the Gather team add educational value to their investors so that more people understand your project than the price?
Ans — We have Ambassadors programs to reach communities, businesses and developers and further inform about the specifics of our technologies and benefits of our products.
These programs are split into 4 groups, aiming to spread the reach for: Community, Gather Online, Gather Cloud-Enterprises and Gather Cloud-PoW Blockchain Developers.
Our marketing approach and activities under Gather Enterprise will be towards educating the market for alternative ways to generate revenue via websites/apps and to access affordable cloud costs.
Questions Asked by our BlockTalks Community Members during live Session for the Gather Network team!
Q1. Yeild farming is a new trending so do you have any plan to yeild farming system development?
Ans — We do not have plans of yield farming and LP — however Gather will be using Masternodes and Staking. the details of which can be seen here: https://gather.network/technology.html Addtionally you can currently stake the ERC-20 $GTH on Bithumb Global here: https://www.bithumb.pro/en-us/investment-finance
Q2. Congratulations for your listing in Bithumb and Uniswap! how do you think these strategic partnerships will help the growth of Gather? What are your thoughts and relationships with Both centralized and decentralized exchanges?
Ans — This is a question we have not seen — So as an entity and a business, having a good Centralized exchange is key in regards to our user journey. Many of the websites and applications in our beta, have never been exposed to cryptocurrency before. So providing them a simple, clean straightforward process to exchange their earnings is important for Gather. With that being said, Decentralized exchanges have picking up momentum recently, and they will be used in our strategies going forward. If they will be used as the main off-ramp — is yet to be seen, as Centralized exchanges have certain levels of compliances built-in.
Q3. Can you explain about the partnership of Gather Network to Ferrum Network? What are the deals of partnership? What are the win-win benefits of the two networks?