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MassBit Community Call Recap

As we head into 2023, we have many exciting plans ahead for MassBit.

Henry: 

Welcome everybody to the first MassBit Twitter Space for 2023. Joining us is Khoi, MassBit’s Marketing Manager, along with MassBit Intern, and a very special guest. Shout out to Hoanito who is responsible for the technical development of MassBit. Today we’ll be discussing some key updates in our product development, along with the overall direction of the MassBit project in the first quarter of 2023.

Currently, some MassBit users may be struggling with Testnet due to the reconstruction and updates to the network as we transition to a newer version of MassBit. We have received many questions and concerns about creating nodes, as well as the sign-up and login process. We’ll address these issues in this Twitter space, along with some other key topics pertinent to our community and users.

Product update:

Since the crypto market and the entire financial system is in a bear market, we feel it’s better not to launch a token now. Hence, we can not launch production with the token model reward currently. The team is therefore working on the following options:

  • Someone/project can spin off their own nodes and share the traffic to MassBit Route, utilizing both their nodes while earning more money. It’s going to be a cash-based model, instead of tokens, which can be introduced once market conditions improve.
  • Any small project/customers can sign up to get API URL like Infura with a cash/credit payment model. 

Can we still restart (reinstall) nodes? 

Current network participants can keep their current full blockchain nodes running, and use them in the later version as we work to upgrade to the new version of MassBit. MassBit gateways however, will need to be reinstalled. 

Community update:

Henry: Regarding the MassBit community, we wil be reactivating the Angel Program, correct?

MassBit Intern: Yes, you are right. We’re going to review and set clear directions for each member in the team. We may have one more Angel in the next month, and we will announce the results in about 2 weeks. Stay tuned for the latest announcement. 

Q&A:

Will the Mainnet happen in 2023?

Khoi: This is the most frequently asked question regarding MassBit. The newer version of MassBit Route will be switched to the fiat model since the market is in a consolidation phase, and we feel the fiat model will work better and bring the most value to our network. I can not tell the community the exact date we will launch mainnet, but we will try to develop and make the fiat mode launched as soon as possible in 2023. 

Where is the CEO?

Hoanito: Mike is working on the project every day. He is an integral part of our team, but he isn’t very active on social media. I have been working with him on the technical side every day, and I hope the fiat model will be done soon, and that it will be launched in the mainnet process quickly. Things are very busy here, and Mike thinks the fiat model will make everything better and the reward mechanism will work better and be more fair to our network providers.

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About MassBit

MassBit is a decentralized infrastructure project. MassBit, which is based on proof-of-stake, uses a verification protocol to create products that are decentralized, providing faster, cost-effective, scalable and more stable solutions for Web3 apps.

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