Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Hyperion, on 14th August 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 Dr. Isaac Zhang, Chief Architect of Hyperion. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Questions Asked By BlockTalks
Q1. Could you please introduce Hyperion to our community in layman’s term?
Ans — Hyperion’s vision is to build “One Map” — that is to build a decentralized map infrastructure for the world. Hyperion provides a blockchain (Atlas) as a consensus layer and a map data network (Map3) for others to build decentralized versions of widely adopted locations services such as Uber. You can imagine a wide array location based applications running on the Hyperion infrastructure one day.
Map is important — the mostly widely used infrastructure of everyday life and the infrastructure for a wider range of decentralized location based applications such as a decentralized Uber. And our team is strong in tech and I have prior experiences to build scalable map systems.
Q2. What are the advantages of Hyperion to other alternatives in the Blockchain field?
Ans — We have a unique economic model and strong technical implementation. But that’s not the most intriguing part to share today — that we are building a huuuuuuuge and successful community. The project OpenStreetMap (OSM), an wiki-like map, has been a successful community for 15 years now and it has accumulated over 6 million active open map volunteers and enthusiasts. That’s very unique about us that we are building the vision on such a firm community ground. This provides an overall answer to your question (https://www.map3.network/docs/what-is). Also a good read!
Q3. What are the major milestones Hyperion achieved so far & what are in future pipeline?
Ans — Product rollout and growing community : We developed Map3 (open service network of spatial data and service) and Atlas (the underlying blockchain network. Mainnet soon in two months). Steadily rising token value and global community growth momentum.
The future is to laser focus on the roadmap to gradually and steadily roll out the mainnet and new econ model. With that others will follow.
Questions Asked on Twitter For Hyperion!
Q1. As Hyperion’s vision is to build a map + location ecosystem BUT,
Can you explain the role of blockchain in Hyperion project?
Ans — In addition to providing an immutable consensus of general account states, we also index the global spatial information. Just like how Ethereum/Bitcoin keep a merkle hash root of all account status in the header of every block, we also store a merkle root of all spatially-indexed data on the block header. The single root is an overall representation of the “world state” of spatial data (map data). Spatial data can be naturally encoded with a tree-based structure (for interested readers, https://github.com/google/s2geometry) and thus can be compressed and verified through merkle proof. This makes our blockchain spatial-native and different natively from other blockchain systems.
Q2. What are the requirements to run a Map3 node? And what are the main benefits it offers?
Ans — The network is open to everyone and everywhere! Anyone can spin up a node in 5 mins. Visit https://map3.network for documents to run a Map3 node. It supports keyless node deployment now. You can see Map3 in action at https://titan.map3.network The backend of the data and service is provided by our decentralized map3 service network. The service will get better over time with more Map3 nodes in different regions of the world. Running a Map3 node can earn service rewards after our Mainnet launch.
Q3. In the future, what are the main goals of Hyperion? How does HYPERION increase the value of HYN token? What is your opinion on the future of the online market?
Ans — LIke i mentioned just now, The future is to laser focus on the roadmap to gradually and steadily rollout the mainnet and new econ model. With that others will follow. In addition to creating higher demand for tokens through more adoptions and applications, our econ 2.0 model has a purpose-built Token burning mechanism to lower the supply over time. Higher demand, lower supply.
Q4. What are HYN plans for global expansion, what are your currently focusing on, expanding or listing more exchanges, or building your ecosystem or marketing and partnerships?\
Ans — I like being asked about our global expansion plan. Like I just said, Hyperion has an unique advantage that we are building on a massive open map community of OpenStreetMap and it has already reach a billion users every month. Also it has ambassador programs/ local meetup in over 100 countries. That provides a huge platform to advertise our vision not just to within the Crypto group but real users/volunteers in the decentralized map community. That would be very exciting.
Q5. within short time HYN is now 46 rank in CMC . So its really Amazing. You guys work hars to get this project to success..so when will you try to come among top 10 in CMC and what are your strategies?
Ans — I dont normally talk about token price and cap because i think it is not the main indicator of our success. But i do want to share how to get here: by keep hands dirty building products, connecting with communities (like the AMA we are doing now.) and collecting valuable feedback on how we could do it better.
We dont have a fine-crafted strategy on how to get to top-10 . Just working hard following the roadmap and plans. Truth to be told we didnot quite have a strategy to reach top 200, too 100 and then top 50, yet here we are. Again i think with good works it will follow.
Questions Asked by our BlockTalks Community Members during live Session for Hyperion team!
Q1. How Secure is the HYN Smart Contract?
Ans — As secure as the cryptography gets.
Q2. Hyperion is a decentralized community with an open-participation model. How can the community participate?
Ans — Read the econ paper and stay tuned. run the map3 nodes. and ready for running the Atlas nodes.
Q3. Most projects use the PoS/PoA/PoW/PoX consensus algorithm. Why does Hyperion use the PoH algorithm? What added advantage does it bring to the Hyperion Network?
Ans — In simple terms, let’s think of PoH as a high-level organic combination of PoW and PoS. PoW provides a verifiable mechanism to incentivize a larger network of map services (the more verifiable works done, the higher the reward). While PoS provides an efficient paradigm for providing a fast and cheap consensus layer. That’s a simple static view of PoH and it is just 50% of PoH.
The other 50% lies in the dynamic structure of PoH. We have designed a total of 10 scaling cycles for Map3 nodes (the PoW layer) to scale out (for higher network capacity and more community participation) and thereafter trigger the Atlas (the PoS later) to scale up (higher staking volume). Scaling out and up will burn more HYN through our Token Burning Model and change the supply-demand dynamics of the tokens. The scaling cycle will happen every other few months to catalyze the growth of the ecosystem.
Q4. Is PoH suitable for use as a general public chain or composite DAPP? How will PoH bring advantages to blockchain technology as a consensus mechanism?
Ans — The specificity of PoH is not generic but the overall design is — couple the PoW with PoS to align the incentives of the token holders and the contriubutors doing the PoW u need for your ecosystem.
Q5. DeFi is one of the hottest topic in the blockchain space right now. Can HYN share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Unification approach towards the DeFi sector?
Ans — Defi is still at the very early stage. I think defi will make a piece out of the existing finance market by its unique value proposition. It is still early to talk about disruption. Actually i think in many ways Defi is learning a lot from the old finance world like how chianlink do the asset pricing.
Q6. You recently upgraded to Economic Model 2.0. Why? What new things have been improved?
Ans — It extends and improves the model 1.0 with a thoughtful design of the self-reinforcing mechanism hoping to drive a spiral network growth.A self-reinforcing growth is the definitive mechanism for the exponential growth of internet products in the last two decades. Facebook, Amazon, Google are all drawing immense power from the self-reinforcing growth (i.e. users increase the value of the network, which in turns attract more users).
Q7. Hyperion is based on two structures: Static structure and Dynamic structure. Why did you create these two structures, and how what’s the difference between the two structures?
Ans — To sum up, the new PoH paradigm includes:
Static Structure: An innovative two-layer token staking mechanism. Token holders can participate in running Map3 nodes through micro-staking for service incentive, and then transitively (no extra tokens needed) Atlas nodes through re-staking for mining incentive.
Dynamic Structure: The Map3 network performs horizontal scaling overtime to incentivize more Map3 nodes, more micro-staking participants, and thus a more vibrant ecosystem.
Q8. What has been the most challenging part of developing the $HYN? What’s the biggest challenge you currently face in order to get this project finalized?
Ans — The most challenging part is to keep up with the fast-evolving landscape of the indsutry, especially the new crpytographic primitives which are both fansinating and challenging.
Q9. What is the structure of the company, is it a decentralised, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Ans — The roadmap is now primarily managed by the committtee of the founding foundation but the governance will gradually transition to the token holders.