we hosted an amazing AMA with Partisia Blockchain on the 30th of May
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as Partisia Blockchain ?
I’m Amana from the Partisia Blockchain Marketing team, here today representing Partisia Blockchain. I am working on the KOL and Community Management.
Partisia Blockchain is a Layer 1 solving the extended blockchain trilemma with sharding for scalability, MPC collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi-party computation (MPC) powered privacy available at the protocol layer and as a second layer service for other blockchains.
Q2. What are the advantages of Your project ?
Partisia Blockchain is a layer 1 blockchain that was architected and designed to solve for scalability, insecure interoperability, and to bring true privacy to blockchain. We create the world’s most secure interoperability by utilizing Partisia’s vast historical software libraries of MPC technology, particularly in the field of threshold key management, to create an open source version of fireblocks, where instead of a few private parties managing secret keys, an open network of hundreds of node operators are the entities facilitating the cross chain value transfer and managing secret keys.
We also use the MPC token as refund collateral inside the bridge in case a bridge were to get hacked, there is an automatic refund mechanism built into the network. This design and implementation creates more secure, transparent, and asset backed bridging.
Finally, we bring multiparty computation, zero knowledge smart contracts to market which allow for enterprise adoption of blockchains where massive networks of private data can be computed on in private environments, and the transparency of blockchain can be leveraged without violating and private data requirements. These smart contracts are also available as a second layer privacy service for other blockchains, which creates a built in network effect for the developer communities to leverage our Zero Knowledge, MPC technology without any switching cost. Our partnership with Emurgo, the co-founding group of Cardano, to bridge privacy to Cardano mainnet, demonstrates our built in network effect and strategy to grow our technology usage amongst all the other large developer / blockchain networks.
Q3. please tell us about the goal you want to achieve in this year.
Here are a few of our key goals –
- Over 20 killer DAPPS by end of year
- All of the top 10 Layer 1’s integrated into our chain
- 30k TPS with 30 shards
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Partisia means distributed trust. It is a combination of the three words:
- Partio: Distribute
- Fidus: Trustworthy
- Fiducia: Security
We had this vision as our mission is to establish a WEB 3.0 infrastructure with no single point of trust for generic coordination of public and private information to be used by all applications across all platforms.
The Partisia Team has been involved in the research and development of advanced cryptography solutions since 2008. We were the pioneers in delivering the first commercial use cases of MPC. We built this blockchain to disrupt layer 1 by bringing privacy, scalability, and interoperability. Partisia is architected and built to create and preserve a free and open internet controlled by the users.
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
NFTs are still in their nascent stages and will evolve to have more utility before being adopted en masse. NFTs currently have little to no use case when it comes to Defi. Thought i’d also note NFTs are hot but Defi has far larger volumes. We will have a low minting cost of 1c and higher TPS than other chains (launching at 3k and scaling to 30k by eoy) we are launching an NFT Marketplace and have many nft initiatives already such as https://red.partisiablockchain.com/.
And here we will put best questions from our members and Partisia Blockchain fans:
Q1 I found something interesting, which is that Partisia Blockchain implements the “Multi-Party Computation (MPC)” technology. Can you explain more detail about this technology to us? how will it work within the Partisia Blockchain ecosystem & how will it benefit users and projects?
Here is some of our key achievements which are real life uses of MPC –
We are world’s pioneer in MPC technology, facilitating the first ever commercial use of MPC in a Danish Sugar Auction. Since then, Partisia has provided data privacy solutions with it’s MPC technology to global leaders such as Bosch, SBI Japan, Tora. In 2017, Partisia Decided to merge MPC technology with blockchain technology to bring better use of MPC to the world. During 2017-2020, Partisia began architecting Partisia Blockchain to solve for scalability, interoperability, and bring MPC to smart contracts, as open source technology that the developer communities could leverage for the first time in history, removing the barrier to entry for this world changing, state of the art technology. In 2020, FINMA of Switzerland approved the Partisia Blockchain Foundation as the home entity for the open sourcing of decades of R&D work to become the launch of Partisia Blockchain. Since then, Partisia Blockchain has raised $48MM from top tier blockchain funds such as Emurgo Ventures, Ausvic Capital, P2P.org, and more.
MPC solves for confidentiality through a network of computation nodes that computes directly on encrypted data with zero-knowledge about the data.
Q2 What I do know is that there are many big-name blockchain projects such as the Solana Network, Ethereum, and many more. So how do you stay competitive and be on top of projects? What is the biggest advantage that ParticiaBlockchain has that other projects don’t have?
I have mentioned our main advantages here, in relation to our Multiparty Computation, Zero Knowledge and Smart Contracts.
This table is a clear indication of our competitive advantage over big blockchain projects.
Q3 Partisia Blockchain is the “Advanced Solution” for decentralized confidentiality and privacy challenges. But, apart from privacy concerns, issues like interoperability and scalability are other issues that need to be addressed. So, how do you plan to solve this problem?
We solve the issues of interoperability and scalability with something we call the Blockchain Trilemma. This involves 3 aspects – Scalability, Security and Cost.
Currently blockchains are plagued by scalability issues or cost issues meaning it’s very secure but as more people come, it’s may not be scaling in a way for costs to stay low. If you solve for a scale or cost a lot of times you trade-off as there’s less security. So how do we have an extremely secure blockchain that also scales and can work with all the other blockchains in a cost-efficient way
We solve the extended blockchain trilemma using sharding for scalability, MPC powered / collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer privacy service for other blockchains.
Scalibilty – Having sharding at the protocol and smart contract level
Interoperability – We create the world’s most secure interoperability by utilizing Partisia’s vast historical software libraries of MPC technology, particularly in the field of threshold key management, to create an open source version of fireblocks, where instead of a few private parties managing secret keys, an open network of hundreds of node operators are the entities facilitating the cross chain value transfer and managing secret keys.
Q4 Can you tell us about the team’s accomplishments so far? What are the primary goals that
has yet to accomplish? If at all possible, give your road map as well.
Here are some of our accomplishments since Partisia was born in 2008.
We are excited to be expanding our team the experience we have together, here is our latest team update – https://medium.com/partisia-blockchain/welcome-iulia-mihailescu-cmo-39a7c6b884f9
Our public sale (https://partisiablockchain.com/sale) is launching tomorrow which is the moment we have all been waiting for!🔥
Q2-Q4, 2022, “ZEUS” Mainnet version 3.0
-Sharding with robust cross shard event propagation
-Activity based revenue sharing of basic blockchain service version 1.0
-Zk Node signup and allocation
-Wallet Version 2.0
-Block Explorer version 2.0
Privacy and Smart Contract Language
-Unified Public and Private smart contract version 1.0
-REAL (binary) MPC Available
-Dynamic REAL preprocessing
-Confidential node address lookup and authenticated channel
-Signed ZK output designed for cross-chain ZK computation
Interoperability and Bridges
-Generic BYOC EVM
-Price oracle for EVM version 1.0
-Price oracle for ETH version 1.0
-Price oracle for MPC tokens version 1.0
-Second price auction as second layer on EVM (PoC)
-Dynamic repricing oracle for MPC token staking requirements
Besides the infrastructure, we are highly involved in helping to integrate the major use cases coming
Q5 Partners and marketing are crucial for adoption, it’s also important to have translation programs or local communities to pass information across to non English speakers,
Would there be form of marketing and are there plans to partner with other projects ???
Yes of course! We have launched international communities, please see them below. We have partnered with key marketing agencies and KOLs to be able to translate.
Our other international channels are TBC!
Partisia can also bring value to other ecosystems who want to access privacy and other features and in turn get exposure to MPC tokens. Other protocols can run on Partisia’s L2 then they will execute the smart contract on their layer 1.
Q6 Does Partisia team have a training and guidance system for newcomers to cryptocurrency? How do you attract and reach them?
Yes! This is definitely something we are currently working on. Our new CMO Iulia Mihailescu is a marketer who played a pivotal role in the integration of PayPal into the crypto space. She is an asset to our team who is going to be working on this going forward.
We have launched a new series call ‘Tech Talks’ that breaks down our new technology for beginners. Watch it here – https://www.youtube.com/watch?v=JH7s9vlJiZk&list=PLwHM8V7p9SQqqdeJubS4J0WIldS6RZ5yd
Q7 On your platform I see about 3 Nodes ,
& Oracle Node,
Can you please explain about these three Nodes #partisiampc?
Baker Nodes: Operate basic blockchain
- Validate transactions
- Stake MPC token worth USD
- Stakes do not get locked as
part of the operation
Zero knowledge nodes:
- Operate Zk computation
- Operate in smaller subset of ZK
- Stake MPC tokens worth USD
- Stakes get locked as part of the
Oracle Nodes (BYOC)
- Operate Oracle functions like
- Operate in smaller subset of
- Stake MPC tokens worth USD
- Stakes get locked as part of the
Q8 Could you please tell me just a little more about Partisia team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
As I mentioned the Partisia Team has been involved in the research and development of advanced cryptography solutions since 2008. We were the pioneers in delivering the first commercial use cases of MPC.
Partisia Blockchain team today is a small team of under 50. Our team has experience in both crypto and non-crypto projects. Our team is comprised of PhD’s in economics and cryptography. Here are our Co-Founders:
Kurt Nielsen – Co-Founder and President of the Foundation Council
PhD in economics and Co-founder of Partisia, Sepior and Partisia Blockchain. Experienced entrepreneur and business developer turning advanced cryptography solutions into innovative high-tech businesses for over 15 years.
Peter F. Frandsen – Co-founder, CTO and Member of the Foundation Council
Co-founder of Partisia and Partisia Blockchain and have more than 20 years of experience as manager of both projects and people in the software development industry e.g. at Vestas, Rambøll Management Consulting and Partisia.
Brian Gallagher – Co-Founder, Member of the Foundation Council
Pioneer in architecting and incorporating MPC into blockchain use cases. First demonstration of such as Co-Founder of instars.com, one of the largest blockchain powered social networks in the world with over 250,000 verified users and the first to merge MPC with blockchain to return ownership and control over data to the users.
Jakob Pagter – Member of the Foundation Council
PhD in computer science and Co-founder of Partisia, Sepior and Partisia Blockchain. 20 years of experience in developing advanced security solutions based on Multiparty Computation and other cryptographic techniques.
Jesper Buus Nielsen – Professor, Chief Cryptographic System Designer at Partisia.com
Professor in Computer Science at Aarhus University. He is co-founder of Partisia and Sepior and one of the most cited researchers in secure multiparty computation and distributed consensus.
Ivan Damgård – Professor, Chief Cryptographer at Partisia.com
Professor in cryptography at Aarhus University. He is co-founder of Cryptomathic, Partisia and Sepior, and is one of the top cited and publishing researchers in cryptography. Ivan is a fellow of the IACR and received the 2015 RSA Award for Excellence in the Field of Mathematics.
You can interact with our team members on our Twitter (https://twitter.com/partisiampc) by leaving comments, LinkedIn (https://www.linkedin.com/company/partisia-blockchain/), on our chat @partisiachat, and keeping an eye out for our live AMAs!
Q9 Your Token Generation Event is on May 31st, on what exchanges will the token be listed?
You can only currently get MPC tokens via your Partisia Wallet – https://chrome.google.com/webstore/detail/partisia-wallet/gjkdbeaiifkpoencioahhcilildpjhgh?hl=en
This is a Google chrome extension.
We have plans to list on many exchanges in the next few months. See our recent partnership with KuCoin labs here – https://medium.com/partisia-blockchain/welcome-kucoin-labs-to-partisia-blockchain-d9bf6c1209b3
Q10 What will be the main advantages of combining Blockchain Technology with ZK Computation can you tell us
We provides a complete platform for orchestrating and offering Zero-Knowledge (ZK) computations on-chain, off-chain, and inter-chain (across blockchains). ZK computation adds PRIVACY and CONFIDENTIALITY to blockchains in a decentralized fashion with no single point of trust. There is a great differentiator in the Zero Knowledge.
Partisia Blockchain is a public permissioned blockchain that functions as a transparent and structured platform for ZK computation and as a vehicle for organizing accredited trustees to further strengthen the blockchain ecosystem. The team behind Partisia Blockchain represents world-leading cryptographers and pioneers within the commercial use of ZK computations.
And this was the end of our AMA with Partisia Blockchain.