We recently had the pleasure of interviewing Yann from the LunarX team and found out more about their interesting project.
Can you tell us a little bit about your background and how you got to where you are with LunarX?
Let me introduce our founders: Ben Fei & Jinlei Xiong. Firstly, Ben has won the ”Outstanding Enterprise Award” from Demo China Summit 2016, Beijing, as CEO of a funding internet company. Before becoming an entrepreneur, Ben was a former IBMer at IBM CRL, a PBC top 5% once, and PBC top 30% twice. He is B.S/Ph.D in Fundamental Math from Tongji University, Shanghai, China.
Jinlei Xiong is the Senior Vice President of Listed Digital Mktg Company (Fractalist, code: 870104) at Product/Media Strategy, Xiong is also a co-publisher at many quality media resources, such as the MIT Technology Review Chinese Edition, Science Times Magazine from NYTimes, etc. After an outstanding career, a Telecom Servicing Company founded by Jinlei was acquired by a listed company. Xiong worked for Hewlett Packard and Sony as a Sales Manager in his early career. He has his MA from University of Sheffield, England.
I am Co-Founder of LunarX. My education was from the China Academy of Social Sciences, where I also worked after schooling. I’ve participated in the Blockchain industry as an angel investor and community contributor for 4 years. I also work as an advisor to several global blockchain projects. Before LunarX, I am one of the founders of the SPO project. It is my honour to work with Fei, Xiong and others from our great team. I have learned a lot from them.
How would you describe the central aspects/pillars of the project?
LunarX’s decentralized architecture can reduce financial cost for data service. Replacing data centers with distributed data services can save resources such as cooling, land occupation, and large-scale hardware. In fact, most personal computing tasks are not complicated. The complexity of the data center’s system lies in the fact that all of the users’ data is centralized, which requires scheduling, resource allocation, task contention, and good hardware to support this computing. From the perspective of a single user, only a small amount of computing capacity is needed to complete relevant tasks. We will spread our dedicated hardware to enhance the LunarX network too.
For example, users may use online notes App only a few times a day. If 100,000 users use it at the same time, say 9 AM when they have their first meetings, the App needs to bear the pressure of data peak and configure ‘good machine clusters’ to deal with it. However, with distributed data service, this kind of App would not cause data blocking, therefore reducing the pressure on the system. Users eventually pay for data services one way or another.
On the other hand, because there is no data management standard, many DApps still manage their data centrally as only a part of transaction data is put into the blockchain. Developers urgently need a universal middleware system that allows them to customize data schemes and structures, freely assemble various basic services, vertically scalable, and meet the requirements of storage, query, and retrieval.
By tapping into idle individual resources to provide services, LunarX helps DApp to avoid data centers and its associated expense. A fraction of the saved expenses would be paid to other individuals in the network for their service. It can dramatically reduce the cost of developing DApps. Simply put, LunarX provides all these functionalities and it would make the development and deployment of DApp a lot easier and quicker.
Ensuring data security and privacy are on our most important tasks. LunarX protects users’ data via cryptography schemes, so the data would be safe from unintentional deletion or other more malicious intentions. For me, I never use icloud, AWS, or another public cloud. I have a NAS but I’m always worried about it being hacked. While these are all great solutions, I am still waiting for ‘that product’, which can let me trustingly input anything. Such is the case in the Federal Reserve Bank of New York, you can recognize that is the one of the targets of LunarX.
What would you say are the key strengths of your team?
Ability & Credit are the key strengths. LunarX has developed for two years without crowdfunding and will be released at 2018. It is not a project which obtains funding via ICO… with no basic usable product for many years. We want to be the industry leader. Our team members come from many high quality and credible projects such as Skycoin. We have a wealth of experience and confidence which will help our project succeed.
Due to our strong reputation, not long after LunarX officially announced its arrival about two months ago, we have established strong relationships with a large number of excellent companies & institutions… as well as listing on Bitforex exchange inJuly. This all assists us with the recognition of our project as well as credibility.
Regarding the coming months, do you have a Roadmap with relevant upgrades or partnerships?
For sure! We are actively pushing LunarX. Thus far, LunarX has listed on Bitforex and became strategical partners with Skycoin. We are working on another heavyweight project regarding partnerships. This should be announced within a month’s time. By the way, we are honored to have a deep cooperation with BlockDelta.
In addition to this, some top investment institutions have noticed us. We remain in close contact with them as this would be a big step for LunarX. As you know, we did not have an ICO, so funding from those who are willing to help us grow is very important.
On the product aspect, we’re hoping to start the pre-order of hardware next month. It will be the key to making our services tangible. This little magical box can be the node of the LunarX network and the center of your home. Not only that, but according to our plan, this hardware will bring Bitcoins & LX to its owner 24 hours a day, 365 days a year. We are looking for agents at the same time, if anyone is interested, please do not hesitate to contact us.
Summer is gradually passing by, but September is still a hot month(!) At least in “lunar.”
Tell us about the added value with LunarX in comparison with its potential competitors? How does your proof of storage concept differ?
Its important to point out that we don’t have competitors (or potential competitors) yet. We believe we are the first project designing the middleware technology for DApps. At present, technology communities have already developed many distributed storage solutions, such as IPFS, Sia, Storj, etc. With LunarX, it will be much easier to build a distributed storage system. However, we are not only a storage system. LunarX has many additional features compared with such solutions.
Our proof of useful work is not just proof of storage, but a more subdivided type of storage. Its the data storage part that provides search engine functions and the computing resources that provide partial database analysis functions which will get more rewards depending on the application. This will be priced based on the type of application, not just on the hard drive. The bottom layer is binary storage, which is a basic layer of proof. The upper layer is a valuable service layer. For various practical functions, this is the value service that middleware needs to provide.
Can you tell us a little bit about the use cases you want to cover?
I would like to make an example. Dapp’s supplier pays a certain amount of LX credit tokens to make sure there is service for users and releases the software. The software then processes users’ data and puts it into LunarX. This means it is put into other individual devices (Miners) on the internet, but this supplier has no control over this data. When the service is verified to be valid, the LX will be transferred to these individual accounts that provide computing power.
Miners accept remote requests because the data structure is standardized, and the data is encrypted. Miners do not know the type of service, what the specific data is, or who requests. They only know how many computing resources they provide to a request.
When the auditor verifies that the service is valid, or after verifying that it is valid for a period of time, the miner will receive the service confirmation message (sent by the smart contract) and get the payment.
How are you aiming to scale your service?
LunarX will have customer facing products, but is currently focused on attracting more Dapps suppliers. It is our long-term focus. LunarX is not a so-called public chain. That is why we’re very special… LunarX is a bridge for blockchain & internet, public chains & other chains and Dapps & Users. In view of LunarX’s future, we have full confidence in expanding the ecology. LunarX doesn’t have competitors, but only partners and potential partners. Scaling our partnerships means scaling of service.
Everyone has a chance to join in LunarX. Regardless if you are a miner, an auditor who audits whether there are forgery nodes, a DApp supplier, or a user who creates valuable services/products/contents/tools to the internet via DApps. You will earn not only LX, but also mainstream cryptographic currencies. The LX token will be devoted to research and development, team expansion, community operations and marketing in the agreed ratio. In order to create and progress, our team will gradually release reserved LX tokens to invest in R&D, reward the blockchain developers who have made outstanding contributions, and incubate the potential scientific and technological direction.
Summary of LunarX’s current status and outlook for the future.
The year of 2018 is the key time for LunarX (especially Q4). The project is growing at an incredible rate with your support. We are welcoming of any kind of cooperation.
Finally, please pay close attention to our hardware. The release time is getting closer day by day.
To the Lunar!
[Official Site] https://LunarX.co
Please keep an eye on the LunarX BlockDelta profile for their latest updates.