Following is the Q&A with Drazen Kapusta, Principal & Founders Board Member at Tolar.io-HashNet. Questions were submitteded by members and the team of Inflow-Crypto Club through e-mail.
Official website: https://tolar.io/
Tolar is an open source, community-governed crypto-currency featuring scalable, fast, secure, and fair transactions. It has a governance system called Magnus Consilium in which stakeholders and investors will have the power of voting on proposals in order to participate in improvements of HashNET network.
HashNET is a scalable, fast, secure, and fair decentralized- beyond blockchain project, leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positive characteristics of a blockchain technology while increasing throughput to more than 200,000 transactions per second. Network is using Proof-of-Stake with masternodes, which eliminates the need for a massive energy consumption.
Q: Do you have an MVP (minimum viable product)?
A: We will have a live demonstration of HashNET in June that will show more than 100.000 tps on multiple nodes.
Q: Do you already have a link to your GitHub? If not, when will you create GitHub and post information there?
A: We have a GitHub repositories, but they are still private. We do give access to some tech reviewers from VCs that are interested in investing. For example, we’ll have Andre Cronje reviewing our code next Tuesday. We plan to open our GitHub to public after ICO.
Q: Who do you consider your direct competitors?
A: Hedera Hashgraph.
Q: Why is your technology better than that of your competitors?
A: It is open and decentralized. Hashgraph will give out 39 nodes with all decision power to companies of their choosing. Furthermore, they stated that they will never open access to the source. With Tolar, anyone with enough Tolars can create masterminds, and not only help secure the network, but also participate in governance process through voting on proposals.
Q: Are there any concrete partnerships in the pipeline?
A: We have few concrete partnership in a pipeline and we will reveal them at the right time.
Q: What is your ”To Market” plan, who are you targeting?
A: We will build real solutions on top of HashNet for governments and enterprises. Also, we will support new ICO s build on top of HashNet.
Q: The hard cap seems to be quite high, can you please explain the rationale behind this decision?
A: Direct competitor have 4 Billion US market cap before Ico /Hasgraph
Q: Your team doesn’t look like they have experience in the blockchain field and all experience seem to be purely of an academic nature – why do you think you have what it takes to succeed?
A: I think you didn’t do proper DD. Some of the techs do have experience with Blockchain. However, since this is basically replacement for Blockchain, algorithmic and mathematical experience is much more important. From the business side, we also have all bases covered much better than competitors.
Q: How come you are starting out with such a big number of people on your team?
A: We are building global tech company and looking over ICO horizon.
Q: Why did you set your token valuation so high? (35mio for 35% equals 100 mill token valuation) And why only sell 35% of the tokens? That makes the hard cap quite high, can you please explain the rationale behind this decision?
A: We have superior tech then our direct competitor Hashgraph and 10X smaller token valuation.
Q: How exactly will PoS work, how often will the token holders be compensated and what is the formula behind it? What will be required for the masternode and do you already have an estimate of annual ROI?
A: There is a special document describing masternodes, we will send it to you.
Q: Your advisors team looks pretty weak compared to the statements you are making and the size of the project, are you planning to add more blockchain-crypto related advisors?
A: We will one or two. Time and real results will in the future show if we have strong or week team.
Q: Your Roadmap seems a bit vague… are you planning to get more details and add milestones?
A: We are planning in due time.
Q: In your roadmap, it says Q2 2018 Launch of the initial mainnet chain with masternodes and staking? Is this a mistake?
A: This is operational and we use it for testing.
Q: Public release and switch to mainnet HashNET protocol is planned in Q2 2019? What is the difference between initial and public mainnet?
A: We have a test network currently, with important properties like masternodes, voting, staking but it’s based on Blockchain consensus algorithms. We’re currently replacing consensus layer with our own, much faster HashNET consensus. Complete implementation of HashNET is planned to be released in Q2 2019.
Q: When exactly will be possible to earn from masternodes and staking?
A: We can’t confirm that at this point.