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Polkadot will be a Widely used Cross-Chain Ecosystem in the Future,ChainX can be Regarded as a Sub-Ecosystem in Polkadot.

ChainX
4 min readSep 30, 2020

Ever wanted to ask questions directly to the ChainX development team PolkaX? This week is your chance because we’re organising a Community AMA where you can ask the PolkaX team anything! We’ll be collecting questions including #AskChainXTeam and @chainx_org until Thursday 17th of September 18:00 UTC here on twitter. We’ll answer the best questions in a Medium post.

1. Introducing once more the core members of PolkaX. They are all senior blockchain engineers and have been deeply involved in serveral public/consortium blockchain projects focusing on blockchain technology for years.

@gguoss: Leader of the PolkaX team, previously the lead architect of Bytom, Second Place Winner of Cosmos Global Hackathon: chainmint (see this post: Announcement: HackAtom #2 Winners). Core developer of ChainX.

@liuchengxu: Early Core developer of Bytom. Core developer of ChainX

@AtenJin: Core developer of FISCO-BCOS. Core developer of ChainX.

@qinghuan: Former senior developer of Alibaba. Core developer of ChainX.

@koushiro: Core developer of ChainX.

Join the ChainX Community AMA and ask the PolkaX Team your burning questions!

We’ll answer the best or most retweeted questions in a medium article.

Selected Questions

@wientest on twitter: What are the advantages of using cross chain that are owned by ChainX? What are the competitive advantages of ChainX against similar projects?

Polkadot’s parachain is also a completely full main blockchain which can provide secondary slots like polkadot itself. Based on this feature we can realized the secondary realy chain over the parachain. Since Polkadot’s slots is Limited, the parachain may be very expensive to afford it for many teams. Fortunately there is a good way to solve this problem which is secondary relay chain. At this time, many teams will consider choose develop bridges on the secondary relay chain. This problem is exactly what ChainX wants to solve.The mission of ChainX is breaking barriers among assets in different chains and creating the ecosystem of multi-currency integration. Our goal is to become a largest secondary relay chain on Polkadot. This is our biggest advantage.

@maikimphuong1 on twitter: What do you think of overall regulation development globally, and what’s the crypto market in 3–5 years to come? How does #pcx work with the regulators?

Currently the crypto world is still in a very early stage, there are inevitably lots of irregularities in many apsects, as the countries around the world are paying more an more attention to the crypto currencies, especially some countries have started the experiment of CBDC, we can expect the whole crypto market to become more amature, less scams, solidly promoting the socical progress instead of full of speculation.

ChainX has no ICO, no pre-mining, no PE, now has become a grudually community-driven project, the goal of which is to facilitate the interoperablity between the existing crypto currencies that is neccessary for the future crypto ecosystem, we believe it does have a chance to have some values and play an important role in the long run.

@CryptoPraetori1 on twitter: How do you assess your interchain bridge now? Have you made recent record breaking flows lately?

Basically a bridge is composed of two parts: deposit and withdrawal. ChainX Bitcoin bridge has implemented a builtin Bitcoin light client which is the theoretically ultimate trust-free solution for the deposit purpose. ChainX uses the way of multisig for Bitcoin withdrawal, and we see some other superior approaches for this job nowadays, we are willing to improve the current withdrawal scheme once we find a better alternative suitable for the ChainX system.

@GDemen on telegram: What sort of interaction is there between ChainX and the Polkadot ecosystem? What sort of engagement is there from other parties on chainx

Polkadot will be a widely used Cross-Chain ecosystem in the future. ChainX can be regarded as a sub-ecosystem in Polkadot.ChainX has reached strategic cooperation with multiple project parties such as acala, zenlink, polkaworld, etc.

@GDemen on telegram: What is the progress of Filecoin, Akropolis and other bridged platforms? Are we waiting for slots before actions can be taken? Has there been any development towards these bridges already, if yes how soon after parachain slots will these bridges be in effect?

We have done a lot of preparations，we will build cross-chain bridge after filecoin released smart contract.As we can see, Polkadot’s auction still needs to wait a long time.We plan to conduct auctions on kusma and deploy parachains first.

We are fully prepared for technical problems of access polkadot. ChainX will access polkadot as quickly as possible afer parachain slots. The most important thing is to wait and make more technological progress at this moment. ChainX will alwayls staying at the forefront of Polkadot technological innovation.

@GDemen on telegram: What are your plans for more exposure, marketing, exchange listings.

Actually ChainX got lots of explosure in China recently, but it is true that ChainX needs more explosure in over seas market. So we welcome community members from local could help out. If you have any ideas could contact our senator ，or email to hi@ChainX.org

Regarding exchange, Exchanges have confidential agreement ,so we cannot release anything before official announcement.

@GDemen on telegram: Do you have plans on updating your website? Many users browse by phone and your website is not dynamic.

We will focus on it in the future after v2.0 released.This is indeed a good point to improve the user experience.

@GDemen on telegram: Any consideration for hiring additional developers or team members to help build, market and manage chainx?

We will introduce other development teams in the future to help build after v2.0 released. Any project can apply to the team.

About ChainX

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ChainX

Written by ChainX

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ChainX is a BTC Layer 2 solution compatible with EVM that utilizes Bitcoin as a gas fee, serving as the predecessor network of BEVM.

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