⚡️ AMA Answers Week #3

HELLO! This is AMA WEEKLY #3!

We are now in week 3 of our AMA Weekly initiative.

If you have any questions, send them to our public AMA wallet address along with a small fee, and you will have a chance to receive 20 times the amount sent back.

Learn more about AMA Weekly TAP HERE

And now! Welcome to Rubi Network's AMA Week #3!

In this week's Q&A series, we will explore the deeper aspects of Rubi's system with you. With 17 thoroughly answered questions, you will understand how 51% security is secured in the system, the true decentralization mechanism, and the role of the community in decision-making through voting. In addition, the special points about how to earn assets such as MnF, MnA, and Star are also revealed.

All the questions found on the AMA wallet, we will continue the numbering according to the previous week's questions. This week we will start with the answers numbered from 27 to 43.

● In AMA Week #3, we only received a small amount of about 20 RBL from the question.
● And paid out 274 RBL for AMA rewards.

Here is the list of 17 answers in AMA Week 3

List of Questions and Answers Week #3

27) RBL Price?
0x04c9c31bda0b2e94fc7c2f0192f5015bf6bbe3473d051b8fc720029bb7ced956

Ask:

How much is $RBL worth?

Answer:

The value of RBL is not fixed but depends on two main factors:

Speculation factor:
The price of RBL fluctuates based on the market and scarcity, depending on supply-demand, investor sentiment and decentralization.

Application factor:
RBL is a crypto asset with practical use value. Each RBL can generate 500 interactive credits, supporting advertising and marketing activities. The value of RBL is guaranteed by this use demand, thereby contributing to its minimum valuation.

Rewward 10 RBL TXN
0x705f6d4a6c2bf6ba6955ed19d803800f93ea3e3814ec08474a1e93fb100367c7

28) What is the price of $RBL in OTC trading?
0x79beeeaa836db20b72d9bb6de3e57a88b38ce248abb9c144231f8f847f46d7af

Ask:
The current price of $rbl in OTC trading?

Answer:

The price of RBL in the OTC market is not fixed, but depends on the free agreement between the buyer and the seller. The price is determined when both parties are satisfied with the transaction. This means that the price of RBL on OTC will vary depending on time, region and individual demand.

OTC is a flexible market where prices can vary from transaction to transaction and there is no fixed level.

Rewward 10 RBL TXN
0xbc8daa6eb68e82e6198cb72fc0d9823a225d1443bd3d1a5160a4b68de489cfff

29) What problem does the Rubi Blockchain aim to solve?
0x614dcb2631d6dbbb749935cd5728596b3339caf1e7b9d1663ba18da0439227a2

Ask:
With the multitude of blockchain projects on the market What problem are you trying to solve with the rubi project?

Answer:

Rubi Network does not focus on creating cryptocurrencies, but rather aims to build a "crypto commodity" platform (Crypto Commodities). Rubi's goal is to convert user behavior in the digital space into tradable assets, turning digital interactions into a valuable resource.

Rubi's vision is that people and online interactions can be transferred, creating a marketplace where real interactions can be bought and owned.

Rewward 20 RBL TXN
0x542dc099fd24989d83ef0ee5b809ed5ba554bf45627f6850d0838cd4a4b5b288

30) What resources are keeping the project going?
0xda1879ff72c9235c90db01f7d2fcd0c35931632618bea2c35a4e7682c7674865

Ask:
What I don't know yet is where the Rubi developer got the funds to costing Rubi's operations all this time?

Answer:

Rubi Network is powered by over $1 million in initial funding and contributions from the development team. The project does not hold a public fundraising, but instead relies on non-profit contributions from a global community of over a million miners from 190 countries.

It is the enthusiasm and patience of the community that has helped Rubi develop sustainably. With its current potential, Rubi Network is considered a potential project with long-term value in the blockchain market.

Rewward 20 RBL TXN
0xd8ff36beffae9c8130d25ac823042b17ef31d117aa083e3b65b871fde0622e9c

31) What is the transaction processing speed (TPS) of the #Pandora network?
0xd606347053901f73800be716c2d02e913ff7a939a1b91867d90477c12b12d630

Ask:
How many transactions can Rubi network process per second (TPS),and what would be the Rubi network average cost per transaction?

Answer:

The Rubi Network currently processes about 65 transactions per second (TPS) with a block containing 1000 transactions created every 15 seconds. Although this performance is not high, it still meets the current needs of the Rubi network. To demonstrate that 65 TPS can still meet Rubi's current transaction needs, let's look at the average TPS of the Ethereum network, which usually operates at around 12 TPS in practice.

In addition, in theory, the Rubi network can increase TPS if additional infrastructure upgrades are made, allowing the network to still be able to increase TPS in the future.

Rewward 2 RBL TXN
0x3eb976c4d3b0f37a842a1168ea399b29f237792ca23df1e9e712352b7646e787

32) It seems like there was an NFT sale on Rubi?
0x7bd9e376a4210ca381cb3d4f3c9f3a9f0bbc99b9d9005336762bdb416b28bec4

Ask:
There was the sale of NFT on the telegram account. Does the team plan to develop nfts accessible to everyone for purchase?

Answer:

Yes! The team tested an NFT auction to collect data on ownership of NFTs that represent real assets. The test was a huge success with the winning bidder paying 9,000 RBL to own the first Rubi Gems illustration NFT.

All auction proceeds went to the AMA fund, which we will allocate to AMA rewards and other positive community activities.

See it here: 0x9933005c71...5e2771444f

Based on this result, we will continue to develop and test ownership NFTs to be ready for users in the future. However, the official launch time is still under consideration.

Rewward 20 RBL TXN
0x0c86552d23c0b542638888bc69624510908087eee6c9a9cb8acbff2ee1d84ebd

33) Is there a charity fundraising activity?
0x0322b7782782741abdc1a2d92c3c5c2123d65d9c353ef711c6c9063ceccedf8c

Ask:

Does the RUBI project have provision for charity? Also will RUBI initiate another KYC program after the currently ongoing KYC ?

Answer:

Charity Fund:
We have also recently experimented with raising various support funds, from the experience gained, the RUBI project is planning to build a transparent fundraising and disbursement function on the blockchain. We will use this result to support charity activities.

KYC Solution:
We still maintain the goal of deploying KYC 2.0, until the network allows users to earn MnA, then KYC 2.0 can be deployed. In some other scenarios if this process is slow, we can continue to support the community by promoting KYC support fund activities in the feature update version that allows automatic fundraising and disbursement of funds.

Rewward 2 RBL TXN
0x868c7f3c801e7610c14fe30672ff5f4bcdb442176ac3221b3171cac2e2145b4f

34) Is RBL free?
0x086f3b1af0feb2d94687f98fe96105699291a286a12893b895d70de5f9edd320

Ask:

My question is RBL have free sell?

Answer:

You can absolutely earn RBL for free on the RUBI network without paying any mining fees, and we promise that this will always be the case. If you want to buy or sell RBL, you can currently do it through the over-the-counter (OTC) market or peer-to-peer (P2P) trading.

The development team does not conduct RBL pre-sale, IDO, ICO or any other form of fundraising, as the Rubi Network has a 100% distributed supply rule through mining.

Rewward 20 RBL TXN
0x6ba3cb194e7380f37e854b6208d0b067e9a71be1ae4e82d6c84f8747238925f1

35) What is Rubi's short-term goal until the end of 2024?
0xa5c52318e78854911d336112bd9664341e57d0a73e27a239211cbd4986b3c207

Ask:

What are the most important and immediate objectives of the Rubi team at the end of 2024?

Answer:

Our most important goal by the end of 2024 is to ensure the stability and reliability of the #Pandora blockchain and wallet. In addition, we aim to complete KYC for about 20% of miners and continue to develop new features for the network.

Rewward 20 RBL TXN
0x400325b73a111c97c3a0a7df0a62a35801a1ba2860f36a457f9057729390059f

36) Does Rubi have a funding fund for developers?
0xf818d9a6cccb1590b2fd2a6494daf2e631bdf89ea6a4168cad2c5f6d8d405bd9

Ask:

Does Rubi have a grant fund for developers so that they can develop and expand the network?

Answer:

We are building a developer fund to expand the Rubi Network ecosystem. However, since all RBL is distributed through mining, there is no pre-generated fund. So we have to start building the fund from scratch, the available funding sources are: KYC service fee, community-backed fund, or auction of special publications.

We will soon complete this fund and announce the plan to use the fund for the purpose of supporting network development.

Rewward 20 RBL TXN
0xc308778a67e92a09e684b9c192bf92baf5f7c88ece0b12719a9a247db6a16c5d

37) Is it possible to send more than 200 characters per TXN?
0x2d42c64e68746f4b63175f28bcb47254e779c6c11d952c394ee9c60a48226c89

Ask:

Rubi introduced a wonderful innovative development were you can interact with individuals on the blockchain but limited to 200 character. Wil this increase when we go mainnet?

Answer:

Rubi is a rare network that allows sending a message with each transaction and engraving it on the blockchain, and it has actually created some interesting use cases, many people have used it for different purposes.

They call it a "feature", and we are glad you like it!

Currently, the 200 character limit helps maintain processing speed on the test infrastructure without causing overload. In the future, when Rubi moves to mainnet, we will upgrade to support longer content with encryption options and possibly add a mechanism similar to "oracle mechanism" to transmit multimedia messages with blockchain evidence attached.

Thank you for your interest and feedback.

Rewward 20 RBL TXN
0x9a3df0dfc9e3383d04c69a5fa17a75374a788ea7cc4ba616226085a248113f3c

38) What is Rubi's solution to 51% attack?
0x110074d2cb717aa6d596f8b510c6dc20adb2951880056160c06359905153d11c

Ask:

How does RUBI prevent 51% attacks and make the blockchain immutable? We have seen some blockchain hacked before now like ethereal Classic.

Answer:

This is a great question!

51% attack is perfectly solved by Bitcoin

One of the best 51% attack resistant networks the world has is Bitcoin, with its huge number of distributed nodes and a mining mechanism to choose the block-producing node that is unpredictable.

The way Bitcoin effectively resists 51% attacks lies in the word "cost", the POW mechanism that Bitcoin built makes the cost of attacks increasingly higher, today it has become a huge number of hundreds of billions of dollars. This number is always many times larger than the results of the attack. In other words, we seem to see no one capable of bearing the cost of attacking Bitcoin. If there is a capable attacker, he will certainly only receive damage if he intends to attack Bitcoin.

What is Rubi's solution to resist 51% attacks?

As a new network and it is very difficult to mobilize good infrastructure like Bitcoin, here are some proposals that we think are suitable for Rubi.

The most effective way to resist 51% attacks is to use a large number of distributed validators in the consensus rules, and at the same time create an unpredictable block creation authorization mechanism. But all of this needs to be designed with minimal hardware requirements to enable anyone to participate as a Validator.

Rubi Network will adopt a random delegation mechanism, where block-generating nodes will randomly select a next node via cryptographic signature to create a new block. All new blocks will then have to go through a re-verification process with the 51% consensus rule before being added to the chain.

We build a consensus mechanism that requires minimal infrastructure but requires staking to be registered. We call this mechanism Hybrid consensus. The low infrastructure requirement makes it easy for miners to participate in blockchain operations, but the RBL staking requirement allows for spamming to be eliminated, thereby making Rubi Network effective in preventing 51% attacks while saving energy.

We believe this can be a suitable and reliable solution.

Rewward 20 RBL TXN
0x77873a744a85fbbfe3d88e57c9edef3bd3c214acf1461119451cb9aec9c296a5

39) Who is back and push the Rubi project?
0x2712124b994ff2799ce9ac4a8e09b0e1e3012f92b0d9036113e4d1628eaed5b5

Ask:

Who are the team members behind this project? Can you tell us about their backgrounds and experiences?

Answer:

We are glad that you are interested in the Rubi Network team! The Rubi team currently consists of over 1 million members, who are miners and community users contributing to the network. They are considered important partners, contributing to building the Rubi Network into a decentralized ecosystem. We call this community Rubimily, and this is our main and overall strength.

We would also like to mention the first people who initiated this project, including 5 founding developers from Vietnam, who have sought and brought a vision of transparency and equality to this project. You can learn more about the Rubi Team on our website or in our app.

Rewward 20 RBL TXN
0x249879f722150666de2f18e682a6e46900c244e1f440f20e930dabb5d13310b4

40) What measures are in place to ensure decentralization?
0xebb9261800115230bf706ca76e72e4a87c1498bb5ac23f3c04cc8ce9200041ed

Ask:

Building on AMA takeaways (full decentralization, diminished core team influence, open-source), what specific measures ensure a smooth transition from test phase to decentralization?

Answer:

Ensuring decentralization is a core goal of Rubi Network's transition, aiming to reduce the role of the core team and build a transparent ecosystem. Here are some possible measures:

• Validation and governance mechanisms through voting with a 51% staking criterion to maintain decentralization.
• New functionality updates will need to be based on community voting rights, with a staking mechanism for voting participation.
• Developing community communication and discussion channels to support proposals and governance based on public oversight.

These proposals will be considered for implementation when appropriate, to ensure a smooth transition.

Rewward 20 RBL TXN
0x5ec3bc4458c0ec025960f471cbda239a5a0a213cf44dc80abb2cfc263e5a52b7

41) Can the community participate in voting ?
0xf2d34a94dc4153d98d17c24ba24ddea2a9710736eaf2e4d71b89fa3ff4aa6ad9

Ask:

Does the RBL community have voting rights? If so, what mechanisms: simple majority, supermajority, quadratic, or weighted? What important decisions require community participation?

Answer:

Yes! Rubi Network is committed to decentralization, and voting will be implemented to allow the community to participate in governance.

We are currently exploring suitable voting options. It is expected that methods such as simple majority or weighted will be considered, while still ensuring transparency and efficiency.

Important decisions such as new feature updates and decentralization mechanisms will require community consensus to ensure fairness and sustainability for the ecosystem.

Voters need to stake assets for voting rights in cases where decisions are weighted by stake.

Rewward 20 RBL TXN
0x72a45dd642b54f67a98e366aa3efba123f2d1325ba0611ca7833a5b0f29614af

42) Where are MnF, MnA, and Star found?
0x0ec6b1cb2080d0efe03554d473334415521ffca2b70c8243e9efb38a6bd8cb74

Ask:

How can we earn MNF, MNA and Star?

Answer:

You can earn MNF, MNA, and Star through interactive activities and practical use on Rubi Network. These two assets are closely related and originate from RBL.

Specifically:

• MNF:
Created when you use RBL to create at a rate of 1 RBL to create 500 MnF. MnF is used to place requests for activities that attract real interactions on the network.

• MNA:
Is the reward received when completing those requests, converted from MnF through interactions at a ratio of 1:1. MnA can be transferred or used as credit in the ecosystem.

• Star:
Meanwhile, Star can be accumulated from special activities and outstanding interactions on the network. Star is an index funded by third-party partner programs, it can be converted into fiat money".

Rewward TXN
0x8690d39488471b2e11e485e0212848c119e966971e80d1c08542921e5da80917

43) Why does KYC need to be paid?
0x91a67c27175de4934509b89c3b0a43b101a4aa9fc44036a8ab4ecdff05afe997

Ask:

why we must pay for kyc??

Answer:

We do not charge cash fees for activities on Rubi Network, including KYC. KYC fees are collected in RBL - the network asset that miners mine every day.

This fee helps maintain the moderation staff and algorithm system, ensuring accurate user authentication, preventing fake accounts.

In addition, the diversity of documents across many countries and low image quality make authentication difficult difficult, requiring both human verification and technological support.

It costs us to maintain the provision of these resources, which is why you need to pay a small amount of RBL to cover the KYC fee.

Rewward 10 RBL TXN
0x396e0e8787cccb84f9de06eabb0d1d7d928d6de26c8d061de91dfd9b49c4a46e

RUBI TEAM

Go AMA WEEKLY LIST