KuCoin AMA With Locus Chain (LOCUS) — The First Blockchain Unicorn
Dear KuCoin Users,
Time: April 21, 2023, 12:00 PM - 1:09 PM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with the Senior Vice President of Locus Chain, Soo Han Cho, in the KuCoin Exchange Group.
Official Website: https://www.locuschain.com/home
Whitepaper: Click to view
Follow Locus Chain on Telegram and Twitter.
Guest
Soo Han Cho — Senior Vice President of Locus Chain
He has been working in the game industry for over two (2) decades already as a Chief Producer & BD director, served as the CEO of Lizard Soft and the vice president of BigPot Games until 2018; Presently taking care of the Business of Locus Chain as its senior vice president.
Q&A from KuCoin
Q: Can you give our audience a brief introduction to Locus Chain?
Soo Han: Locus Chain is a revolutionary layer1 high-performance public blockchain. It is the blockchain platform that achieves both decentralization and scalability and does not restrict its node operation.
Q: Can you introduce the core team members of Locus Chain? We hear that the team is highly experienced. Can we get some examples?
Soo Han: The core members of the Locus Chain are developers who have been developing MMORPG games and game engines for the past 20 years. There are similarities between blockchain networks and MMO (Massively Multiplayer Online) games in that blockchain networks also have to process large-scale transactions quickly simultaneously. Core members of Locus Chain have tackled the issue of scalability for a very long time and have developed many unique patented technologies.
Our dev-team members are always used to facing challenges in creating new cutting edge technologies and always look beyond the limits and pursue the most efficient methods.
Q: Please briefly introduce our community to the inspiration to build Locus Chain.
Soo Han: The network processing method of MMORPG games is very similar to the blockchain network. In the case of the game developed by our core developers, numerous game units appear. The vast amount of data traffic generated must be handled accurately and quickly without errors, and many technologies have emerged in studying and developing this issue. Since the blockchain also operates similarly, our development team thought they could solve the scalability and performance problems simultaneously by applying their unique technology.
Q: In the crypto industry, what do you think of the current state? What do you think needs to be improved?
Soo Han: The current blockchain market is still in the early stage, and there are a lot of technical challenges to solve. Therefore, the current blockchain market has not become popular or mass-adopted due to technical limitations.
Q: How does the Locus Chain team plan to tackle these issues to reach mass adoption?
Soo Han: First of all, the scalability and performance issues of the public blockchain must be solved simultaneously. Therefore, it is necessary to maintain full decentralization rather than make various compromises and sacrifice decentralization for scalability and performance, as many other blockchain networks do. To that end, Locus Chain has developed patented technologies to solve scalability and performance without compromising decentralization.
Q: What is your timeline, and what can we look forward to from Locus Chain?
Soo Han: The first version of Locus Chain is called "Gamechain." It was launched last year. Gamechain is a platform that utilizes Locus Chain Technology to run online games without a central online game server. Unlike other so-called blockchain games, which only utilize cryptocurrencies to sustain the game economy, Gamechain is an entirely new technological breakthrough where online games can operate without centralized game servers. The 1st game chain game (Kingdom Under Fire: A War of Heroes) has already been launched on the world's largest game distribution platform STEAM last December. This technology will set new standards and create new markets. Through Gamechain, we want to prove the technological superiority of the Locus chain.
Q: Anything else you want to share with our community?
Soo Han: Global cryptocurrency investment companies have already begun to pay attention to the locus chain. In addition, Locus Chain is already working on Mega DApp through the Creative Metaverse Platform. So there will be good things happening for investors if they pay attention to the Locus Chain.
Free-Ask from KuCoin Community
Q: Do you have plans for global expansion?
Soo Han: Yes. We have many exciting global projects up our sleeves. Firstly, our game chain project is unprecedented, and therefore we are faced with creating an entirely new market instead of entering an existing one. In addition, we will be the pioneer in providing serverless online services using our GameChain technology. Also, we will utilize our technologies in smart cities and Web3 metaverse projects. More information is on the way.
Q: Do you have any plans to attract Web2 subjects to join your project?
Soo Han: We do. We are creating game-related content and technologies to invite gamers into the crypto space, expanding our blockchain technology's usage to other industries, and targeting global mass adoption. Then we will have many new users who were originally outside the crypto space.
Q: Please explain why I should buy your tokens in the current market situation.
Soo Han: We do not consider ourselves one of the players in the crypto market. Our technology is superior enough to conquer the market; therefore, we believe the market situation will not affect us in any way. We will be victorious in the long run.
Q: Are you a global project or a local project?
Soo Han: We are a global project and target global mass adoption. We will set a precedent for the actual usage of blockchain technology.
Q: Please tell me the advantages that you have in the NFT field.
Soo Han: Our advantage is that our core development team is almost all game developers with decades of experience. No blockchain developer will understand the game, NFT, metaverse contents, and market better than us. A Mega Dapp of metaverse and games have already begun development that runs on Locus Chain. GameChain will also open and create new markets to provide significant benefits, such as reducing server maintenance costs.
Q: What was your motive behind making your project?
Soo Han: When we first looked into Bitcoin's Proof of Work (POW) system, we thought the tech was innovating, but at the same time, we knew it would not be mass adopted because there would be scalability issues. However, we were confident that we could solve the scalability issue, maintain decentralization, and create a system that could truly be mass adopted. When we complete the development of the system, we can bring the credit revolution to the world.
Q: Do you consider the voice of your community to help with your plans?
Soo Han: We are always open to and also welcome feedback from our community.
KuCoin Post AMA Activity — Locus Chain (LOCUS)
🎁 Participate in the Locus Chain AMA quiz now for a chance to win 142.5 LOCUS!
The form will remain open for five days from publishing this AMA recap.
Giveaway Section
KuCoin and Locus Chain have prepared a total of 28,500 LOCUS to give away to AMA participants.
1. Pre-AMA activity: 5,700 LOCUS
2. Free-ask section: 712.5 LOCUS
3. Flash mini-game: 5,700 LOCUS
4. Post-AMA quiz: 16,387.5 LOCUS
. . .
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