Frequently asked questions
Why are SSL Certificates needed?
Currently in the e-Commerce, SSL server side Certificates are used to verify the authencity of the seller. For AURAE, the authencity of the buyer is also verified using the SSL Client side Certificate for P2P based on X509 to ensure both buyer and seller authenticity.
How does File Based Blockchain cater for flexible delivery?
The way the current blockchain is designed that it's 1 big file with many blocks and in each block are transactions. This file overtime gets bigger and thus will add stress to the network when new miners join the network creating the utilization of more resources and it will eventually become slower to propagate updates. We fix this problem by writing the transaction files to the chain directly so each transaction is the block giving us the ability to WRITE MULTIPLE TRANSACTIONS AS THE SAME TIME. Computer Science 101. You cannot write to a file when someone else is writing to the same file. It creates a collision of data. However, write to many files at one time as long as they are not the same file. When files are small they are easier to deliver to mass number of nodes in the network.
How will the chain hold up against malicious actors?
The entire platform's resources are allocated by Good Actors and Malicious Actors. That's why in our SYSTEM we never allow the WITNESS to be SELECTED for any transaction. A WITNESS is selected from a pool based on the Proof of Reputation (which is speed, connectivity to other nodes and the number of transaction that has been done) The Same witness cannot witness the same transaction twice, this is set in the rule which underlines the DAPPs Business Intelligence Workflow. As soon as a Malicious Actor is to modify the chain or create many non-existent transactions, Good Actors around it will "Blacklist" The Malicious Actor, which might land the Malicious Actor's Certificate to be suspended. The only way the Malicious Actor can re-join the network is to get a new MOBILE DEVICE to rejoin the network. How do we do this? The Certificate is generated based on the NAND/EMMC/SSD/NVRAM fingerprint which is unique to every non-volatile storage. as used by Proof of Space and Time to pre-generate keys.
How will the distribution be fair?
POR (Proof of Reputation) is also known as Proof of Weight, which favors good Actors to do more to comply to the POR scorings. However, for security reason, no witness can witness the same chain of transaction twice. That opens chances for others to write to the chain and to increase security and eliminates the chance of the witness modifying the transaction block.
What about cases where reputation centralizes in a handful of nodes?
For security reason, no witness can witness the same chain of transaction twice. That opens chances for others to write to the chain and to increase security and eliminates the chance of the witness modifying the transaction block.
For an idea with no actual product or usage that is high, it is just another blockchain trying to compete with existing blockchain. What is the unique advantage over the other blockchains? Why wouldn't business just use an existing publicly available blockchain?
9 months ago, AURAE is an IDEA without proof that it works. Now AURAE has an EXPERIENCE LAB, which everyone over the world can download and experience "AURAE CAFÉ" on Google PlayStore and Apple AppStore. The AURAE CAFÉ is a 600-virtual café retail that utilizes the DAPPs to run their business worldwide to participate in the witnessing of transactions. In return AURAE CAFÉ rewards their customers with 1% of their revenue.
Why is there a foundation AND a reserve? Wouldn't just one suffice?
Reserve tokens are there to protect the token prices. If left unused, it will be transferred to the Foundation.
When can AURAE be delivered?
Please refer to the TIME SCHEDULE, we will platform up in November. Our First Experience LAB app will be out by MAY and the 2nd by JUNE.
Why are the businesses who signed MOU with AURAE listed?
Please refer to the aurae.io website for additional partners that is joining the network. Proof of MOU and LOI are available upon request for serious investors.
What happens if the network is overloaded? Will the transactions keep fail?
Can groups of nodes collude and restrict other nodes from having connections? This thereby negatively affect their reputation score and possibly their transaction score.
When the participating nodes in the network is small, this is a problem. As more users join the network the chances of colluding are diminished to non-existent. To overcome this, we are introducing AUTHORIZED NODES which we will diminish over time when more users join the network.
Would it be just semantics since AURAE create their own Blockchains and use the same network to secure it?
A Transaction chain is created by multiple witnesses. For each same transaction chain different witness is needed for transactions to happen. The network is created by users which they freely commit resources into.
Complex solution, other more established public chains are available with higher transaction throughput. Even Ethereum can be used with Raiden, i.e. payment channels that increase the main network’s throughput because not all transactions need to be on the main blockchain. Sharding solutions are being developed. (This is essentially splitting the blockchain into parts that would run on different servers)
Raiden/Lightning are OFFCHAIN solutions, but the ONCHAIN TP/s remains slow. Sharding don't help increase the transactions, but helps in overall transaction completion. The underlying architecture of ETHEREUM/NEM/NEO/QTUM blockchain is SINGLE NODE BATCH WRITE. Meaning even if you have 100k nodes in the network only 1 node is allowed to write to the BLOCKCHAIN then sharding helps to propagate that to the network. like what Zalliqa is trying to achieve. The only other non-batch write solutions are hashgraph, dac (tangle), which aren't even considered as blockchain as they don't fulfill 1 fundamental of the blockchain, can hold any kind of data.
Is the objective of the project seems to create a public blockchain that can be used by business to create their own blockchain? But some factors of the design seem to involve the solution being more centralized, and controlled by AURAE instead.
Is this a new solution that can fork and create their own blockchain?
The AURAE foundation. If they really want to make it open source it should start that way, getting adoption is hard and the crypto-sphere is preferential to open source, centralized solutions. Not sure this growth trajectory will be successful. If we compare to Ethereum for example, really truly open source at the start, the foundation and people contributing and building on the platform all over the world, that's an open source movement much like how Linux was. (and they only raised 18MM) Hyper ledger as well is another open source solution.
Agreed, that’s why AURAE will be OPEN SOURCE. We just want to make the road smoother for adopters so that developers just focus on building the solutions. P2P systems aren't new they are just renamed to DAPPs and DLT is not new… they are just given a few more rules and then called BLOCKCHAIN.
Being open source will attract the widest range of developers, the brightest minds.
Alternatively, we can compare to NEO, the supposed Chinese Ethereum, arguably large community, big support, had a number of large ICOs running on it, there is a big foundation also, City of Zion, but the tech isn't really up to scratch, it's still considerably centralized. The NEO price is very successful but can AURAE pull of the same success? Does it have the china push and growth engine behind it? Is there a big community excited about it and willing to commit to build on it?
We have another view. Our view was always to help the merchants, SMEs the unbanked, the countries which wants a change. We are working hard with SME groups/associations from around South-East Asia to help them to weather the economic slowdown by efficiently lowering down their transactional cost and to help them acquire more users thru the AURAE economy. We let our successful implementation speak for itself.
126MM for 63% means diluted valuation is 200MM?
This is not an EQUITY, the tokens are not diluted, the tokens are bought and sold on Exchanges which are tied to the market forces that is driving for the Price of the Token to go up. Since the Price of the CERTIFICATE remains at USD$1 per Token, even when the price is up by 1000x that will not harm the merchant from buying the certificate for their required usage, as the CERTIFICATE IS PEGGED to USD$1.
Why is the share for founding team (10%) so high? They are basically getting 40MM (based on the valuation) upfront, in addition from funds from investors.
The entire tokenomics in AURAE do not pay the FOUNDERS and CREATORS and the PEOPLE behind the working on the platform. The 10% for the founding team is the end goal for the team to create a FREE PERPETUAL ECONOMY for the entire world to benefit. There is no PLATFORM in this world like AURAE that is FREE for merchants to embark on.