Gather Network AMA
Earlier today we did our first ever telegram channels AMA with Gather Network. If you are unfamiliar with what an AMA is, it is a 'Ask Me Anything' where we asking questions to project that are super popular to learn more about the project, what they are building and everything you need to know before taking an investment or trading. These AMA are a fun and engaging way in which you guys can learn more about project and even ask questions you have had on your mind for a while. Here is the link to our telegram channel...
For those who missed today's AMA we wanted to cover the questions and answers in an article so that you could recap what happened and what specifically was talked about!
Q) So let's just start off nice and easy, Could you give us a brief overview of Gather Network and what you guys are currently working on?
A) Gather is a platform that allows publishers to monetize without ads and provides businesses & developers to access cheap and reliable processing power.
Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.
Q) So Gather Network is broken up into different layers that offer different solutions?
Out of personal interest what companies could Gather Network be a disruptor too? Seems as though the project scope could have a major impact on companies like Google etc
A) If we look at the L2 ie Gather Cloud - any business could use Gather cloud, its an cheaper form of cloud computing. If we look at the crypto side - the L2 allows developers to create child chains - with POW grade security. and the L0 ( Gather online ) - anyone who has a website or application - can use Gather online to monetize, as an alternate form of monetization. First and foremost, Gather Online is oriented to change the way of web/app monetization, Providing websites and applications an alternate form of monetization, one that is not reliant on Ads, is a paradigm shift. There is no other competitor utilizing the processing power provided by websites and applications for building a better ecosystem, as we plan with Gather Cloud: Gather Cloud will allow PoW blockchain developers to deploy blockchains ( Child chains Via Merged Mining ) without the need to source miners or build a community first. Gather Cloud will allow enterprises to lower compute costs with CPaaS (Compute Power as a Service) as a unique offer for specific use cases.
Q) Amazing sounds super interesting!
You have sort of already answered my questions above but what do you see being the main use-cases for the Gather Network and who currently do you see as being a competitor? :)
A) For the first time in history, we have developed a powerful new technology that allows web and mobile developers earn money through processing power contributions.
Imagine an Internet where web and application developers can generate reliable revenue streams without having to rely on Ads. One that is not reliant on ads, one that is reliable and rewarding. While making Cloud markets cheaper and fairer. Gather is unlocking a new type of business model for the internet by allowing publishers to monetize without ads and by providing businesses & developers access to affordable and reliable processing power.
Q) Wow that's incredible! Thanks for the detailed response!
The breakdown of different layers and being able to have all the different elements under one network is super impressive! Could you tell us a little more about Web Mining and just a general overview of What is crypto mining with a web browser?
A) It’s a new way to monetize websites that can be an addition to or replace monetizing a site with display advertising. It enables websites to earn from users who simply browse a site with our code embedded in it to mine cryptocurrencies with their Idle processing power, using a CPU or GPU
Q) Wow this sounds super cool, so technically with full-scale adoption, users would never really need to watch advertisements or annoying banner ads every again. Gather plugs into the back end of the site and when a user is browsing it is mining on the backend?
A) Well yes hah - but in reality from the on-going conversations we have seen that are 2 broad categories of websites and apps 1) Those who care about their users 2) and those who do not. Generally speaking, Category two, are sites that are very unique and users are forced to go their websites, so they have specifically said they want to run as many monetization strategies as possible - Ads, Paywalls, Gather, referrals everything. - And Category 1- understand the power of Gather - that you don't have force-feed your user ads and more over - reward them with the loyalty program ( the loyalty program allows publishers to share a % their earnings with their users ) My point is that I would love to see a world with less privacy-invasive ads, but the reality is there will be greedy websites who will use everything - since there only concern is how much money they make ( even though we provide better returns as compared to ads
Q) Yeah I think we all completely understand, I think advertising is a very disruptive industry and honestly, the impact Gather could have could be amazing and impactful! So wanting to know a little more about the network, could you give us some details about the Gather Block?
A) Here is an image to help show some of our block details
Q) So I think a lot of people here are pretty interested in the GTH token, both the utility and structure... How does GTH work as a utility token for the network and how does it benefit both the network and holders? 🙂
A) GTH’s value is derived from being as a medium of exchange within the ecosystem along with providing holders the opportunity to vote on the future of Gather. The specific features that use $GTH as a medium of exchange include:
1) Gas Fees and network interactions charges, settlement and processing power-related charges for the Gather Cloud, and Settlement of Gather Online Rewards.
2) Providing a financial incentive to nodes to act honestly.
3) Entitling Staking holders with the right to participate in the governance and future of the Gather ecosystem
Q) I think a lot of people are interested in the token sale for GTH and the tokenomics.
Could you tell us more about how you are rolling out GTH? Is there a private sale, public sale or how do users get GTH and more information on the token allocations for GTH 🙂
A) We priced private and public sale very close to each other, with private sale set at 3.2 cents and public sale with a mini bonding curve going up to 4 cents. Private sale has 65% of their tokens locked at listing and remainder vested over 60 days, so private sale participants get lower initial liquidity for the cheaper price. We did not go for very long locks on private as that just creates artificial scarcity for tokens on the market for no real reason. We have found recent public sales with auction mechanisms to be lacking in actually providing a chance for smaller investors to get in with a fair chance, where larger investors (whales) are given priority and teams end up raising 5-10x the amount they initially mentioned. We are very much against the idea of doing a public sale where whales end up scooping up the lion's share of the sale in the end with no vesting attached.
Q) Could you just tell us a little bit about your roadmap going forward, how do you plan onboarding users and gaining more adoption for Gather?
A) Both for Gather Online and Gather Cloud, we will continue building new relationships with publishers, enterprises and PoW blockchain developers.
We already have around 200 publishing partners via Early Adopters Program so far, including names such as ThePioneer (India’s oldest newspaper). We will be running campaigns to raise the awareness of Gather Online as we get closer to the mainnet launch but in the meantime we will carry on and bring more partners with our B2B marketing efforts.
We’re currently testing Gather Cloud with Godrej Industries ($4B+ turnover) and we have ASAP Fluids ( Oil & Gas ) on board for the enterprise side. As part of our B2B business development efforts, we will also continue adding new enterprises.
Again for Gather Cloud, we are also building new connections with the other PoW blockchain teams where we can use their algorithms as part of our Merged Mining concept.
It would be worthwhile to also mention about our Ambassador programs here where you can see on our website. These programs split into 4 groups, aiming to spread the reach for: Community, Gather Online, Gather Cloud-Enterprises and Gather Cloud-PoW Blockchain Developers.
Q) If you had the chance to skip forward 5 years and see the impact Gather has made on the world, what would you like to have seen achieved and where would Gather Network be in terms of adoption and user base?
A) For sure - I would like to see Gather being a household name, less ads all around and our technology being adopted by many. For specifics, and as per our mixed method growth model ( based on top down and bottom up ) we predict 2B sessions in a year, and over 130 child chains. Note we do not say websites, as the relevant metric is sessions/visits. However these numbers can change.
Thanks to everyone who came into the telegram today for the AMA, this was a really cool first AMA to host in our telegram and we have more project lined up over the coming few weeks! Thanks for all questions and engagement it was super fun! If you would like to learn more about Gather you can find more information on the website or on their twitter.