Virgo X CryptoNite_Club AMA resume
Hello, dear CryptoNite Club community! We are please to announce AMA with Virgo.
Virgo Team: Hello everyone! Thanks for the warm welcome. It’s a pleasure to be here today
We are really excited about the upcoming AMA with you. Let’s start! Introduce yourself, please. How did you get to be involve in crypto & Virgo? Tell us please about your position in Virgo
Sure! I’m Virgo’s founder and CTO. I got involved in crypto back in 2015 after seeing a website accepting Bitcoin. Being curious, I searched for what it was and fell in love with the concept! After many years of investing and doing research on blockchain and cryptography, I found a technology concept in late 2019 that could solve majors problems, and created Virgo!
What does Virgo mean ? Btw give us a brief introduction to the project. What is the essence of Virgo?
Virgo is the name of a major constellation. We choose this name because we want to create an ecosystem of interconnected dApps. We are creating Virgo because we find dApps and the crypto industry in general pretty hard to access for casual, non-initiated people. Great projects are dispersed between many platforms, making themselves hard to find and cumbersome for most users.
It is also paradoxical to create applications that are decentralized to protect users but finally distribute them over centralized means, making a fundamental weak point. Imagine if pancakeSwap’s main website gets hacked for a few minutes. The attacker could easily steal dozens of millions from users! That’s what we want to solve and prevent.
To do this, Virgo is creating a decentralized AppStore, enabling users to easily and safely download dApps directly from our wallet. To power this platform and the applications on it, we are also creating a state-of-the-art cryptocurrency.
Which chain are you based on?
Our technology is not a fork of any chain. We made it from scratch. However, the most similar technology to it must be IOTA and its DAG!
We solve the security problem inherent to this technology by combining it with a classical blockchain. This way, we can benefit from the DAG’s scalability while being as secure and decentralized as an old-fashioned proof of work blockchain, like Bitcoin or Ethereum!
Please tell us about the team of like-minded people who help build the project? Who is at the core of the team?
We are currently six in the team, expecting to grow this number as much as possible! It comprises three developers, including me, one marketing officer, one business relationships manager, and one advisor!
For the most part, we have been in crypto for a long time and met thanks to it, executing mining operations and exchange services before committing to Virgo.
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Virgo?
Our mission is to make crypto accessible to anyone. It’s a huge task that gives us work for many years to come! In the short term, our goal is to release our testnet by next month and create an MVP version of our store by the end of the year. We also plan to prototype a first dApp, a fully decentralized chat, like telegram but without centralized servers, further improving privacy.
Finally, we are launching VirgoFarm, our stacking program, on Thursday. It will permit you to stack your VGOs and earn up to 25% APY on them!
Thanks for the introduction, now let’s learn more about Virgo through the community questions we have collected. Ready to proceed?
@SilakYamon : Most investors are looking for short-term profits. They will sell the token as soon as it is listed on the exchange. So does project #virgo_coin have any plans to prevent investors from selling tokens early
Thanks for the question! We see Virgo as a long-term project, creating products that will be used and so create value. It alone should keep real investors attracted to our project. In addition to this, we are launching VirgoFarm, a smart contract that will distribute most of VGO’s supply to investors over more than ten years, at a rate of up to 25% per year! This way, long-term investors are gratified, and new investors can go in without the risk of whales controlling the price.
Thank you very much for your answers and clarifications! ready to proceed to the next question?
@Kaviindu_: Virgo creates the first decentralized AppStore to drive dApps adoption, a distributed ecosystem powered by a state-of-art cryptocurrency … How this creation of Virgo will affect to crypto community ?
We hope with Virgo to make the crypto industry much more fluid and secure:
The goal is that instead of having to use many different services and blockchains to use dApps, people will be able to do it through Virgo, our technology acting as an additional layer to any supported blockchain.
Thanks for those interesting details, clear answers are very appreciate for our community. Now is time to proceed with the next question
@AkiiBoy01: Do you have a plan to expand Virgo to other blockchains ? If so, which blockchains ?
One of our mid-term goals is to make our cryptocurrency as interoperable as possible to ease Virgo’s use further. Towards this goal, we will create bridges with any blockchain that we find secure enough, including Bitcoin or Ethereum as an example!
Thanks for your great answers! Ready for the next question?
@Dinibro1: What are the key milestones on your roadmap – both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
The first major milestone we achieved is that during summer we successfully conducted a private testnet of our blockchain technology! It is now almost ready for a public testnet and will be released during November.
Our next major technical milestone is to create an MVP version of our store. But more importantly, we will soon start to work on implementing smart contracts to our technology!
Well, if did you say about the roadmap, would you like to share with us perhaps?
We will soon post an updated roadmap with our detailed plans for 2022!
Thanks, guys for the detailed information and answers
Ready for the next question?
@0xIshi: Your platform is able to generate a huge amount of data speaking about users preferences, strategies and behaviors. Are you already using those data? Do you plan to use them in the future as an additional source of profit?
Data is essential to build products that are convenient to use, but privacy is an absolute right for us. We will collect nothing without the user’s explicit consent, and all data will be sent anonymously. Also, we won’t share any information with third parties.
Thank you very much for your answers and your time! it was an amazing AMA! you are doing a very beautiful and high-quality project! we are honored to have you here today.