FAQs will be updated according to changes, and as new information is released by the team. If anything here is not accurate, please let us know in a respectful manner.
What is SubstratumNode and SubstratumHost? SubstratumHost is used by website owners to manage their domain, files, databases, users, pay hosting fees etc. This is what enables a site owner to run their website through the substratum network. SubstratumNode is what the average user will run to earn SUB and dedicate some of their computers' resources towards the network. This also gives the node operator access to any restricted sites which are not running on the network through their "vpn-less VPN" system. This will massively help with overall adoption.
What do I need to access sites on the network? Absolutely nothing. If a site owner decides to host their site through the network then you will be able to access that site without any additional software, just stick the URL into your favourite browser and the decentralised site will load. If you wish to access any website (region restricted or not) anonymously and it's not hosted through the substratum network then you will be required to run the substratumNode software. This routes all your web traffic through the network, allowing access to the restricted sites for free while paying you for routing traffic.
How do I store the SUB token? Due to SUB being an ERC20 token, it can be stored in any Ethereum address. In general, MyEtherWallet is recommended for storing SUB and other ERC20 tokens; just send the SUB to your ETH address then load the token on the right side of your MyEtherWallet wallet to view your SUB. This also means you can store SUB on a ledger/trezor hardware wallet.
Does the network run on the Ethereum blockchain? No. Only the SUB token used for payouts runs on the ETH blockchain, all details of what node contains specific site fragments and information on how sites should be loaded will be stored on a separate individual blockchain.
How do I mine/stake SUB tokens? You don't. There is no mining in the traditional sense; total supply isn't going to be increasing. You earn SUB by being a node and providing access to sites on the network. This SUB comes directly from the website owners who will purchase it and use it to pay for hosting on the network. Price will go up over time with supply/demand; more websites = more demand for the token. Should the market ever reach 90% saturation, the network will create 10% additional tokens and separate them into an account that is only used to fuel the network. These will not hit the exchanges and will only be available for transactions within the network.
What sort of computer will I need to run a node? No one knows the full answer to this till the beta is complete as that will help the team determine minimum system requirements for the network. What we do know is; Upload speed will be one of the most important factors. Apart from that, a mid-end CPU will likely be of use and a reasonable amount of RAM. Hosting a node will not be GPU intensive.
When is bitrex coming? The team is under NDA regarding this and we will likely not hear anything until it happens. One of bitrex's requirements is open source so we will not see it listed till that comes first.
Is there a coin burn coming? Yes, the team has already burned 120M tokens shortly after the ICO (into this address), there will be another token burn after the bitrex listing. We are not sure of the number of coins that will be burned yet, rumours are 60M-120M coins. This comes from the total supply, not circulating supply.
Whats with the project being closed source/can I see a github repo? Here you go!
What will be the price of SUB in x months/days/years 296 Gazillion Dollars.... seriously though, anyone giving a price is just purely guessing. Do your own research if you are looking at investing.
What's stopping an ISP from blocking Substratum hosted sites? Due to the distributed nature of Substratum, in order to block a site the ISP would have to blanket ban all internet users in an area and leave limited access to government facilities or public service locations that need internet access (..this is extreme and if it happens it's because your country is probably in a war; blanket internet bans basically stop a lot of local commerce from happening. People working at pc from work or home, internet phone lines, chain stores, anything that uses cloud computing, or server side computing that relays data remotely, including credit processors, with some exceptions; offline transactions are possible but have their own set of issues, would all be blocked.) This reason for such drastic measures being required to block a substratum hosted site is due to the fact that substratum traffic simply looks like standard http web traffic so the ISP has no clue if you are running a node or just uploading a file to a website. Ontop of this the nodes hosting a specific site are constantly changing and no single node contains a whole file for any site. And the icing on the cake, multiple nodes are required to serve a single request with no single node knowing the full route path. This means that if the ISP did block the first node in the path, there would still be multiple more nodes behind that still ready to serve the request.
Cant ISP's just block access to the site proving the node software? http://substratum.net will provide access to the node software, this site will also be hosted on the network meaning that, assuming everything works, ISP's cant block access to the site and therefore cant prevent people downloading the software.
Is my site data secure? Yes, no single node will contain a whole file for your website and all files are encrypted preventing tampering.
How will substratum ensure there are enough nodes for larger sites? As more sites, and larger sites, start to host on the substratum network, payouts will increase due to increased demand. This will naturally bring in more users hosting nodes to get a part of the profits thus making up for the increased demand and keeping the network stable.
What about illegal content being hosted on the network? The network will have some sort of user governance system letting users vote to get highly illegal content removed if the majority agree. We do not have a whole lot of detail on the workings of this system as of yet.
What is CryptoPay? Cryptopay is a decentralized application being developed by the Substratum team which will run on top of the Substratum Network. This is a payment gateway which website owners will add to their site in order to accept payments through any publically traded cryptocurrency. The site owner can choose to be paid in USD/EURO etc and cryptopay will automatically convert any crypto into their desired currency using SUB as a middleman currency. More detail can be found here.
If you don't like reading and videos are your thing:
Thank you /u/Mike54637 for helping out with this list! It is much appreciated!
In March of this year we received an amazing SUBLOCC presentation from Dan Wiebe himself that can be viewed here. The presentation and Q&A lasted about two hours. He provided a great technical overview of what 0.1.0-0.3.0 consisted of, a great view of CORES routing, some demos, and quite a bit of Q&A.
Now, six months later, Dan will be presenting again. There's a general idea of what it'll look like (so far) here:
"I imagine I'll talk a bit about remaining decentralization challenges, a little about monetization, and save some time for CryptoPay and Amplify (maybe Host too?) toward the end."
As for the inevitable question about whether it'll be streamed or not, Dan answered here:
"I'd like it to be streamed, but I'm not the boss of that. If it is, I'll have to be careful to avoid making mugs that can be turned into animated GIFs."
Of course if anyone is interested in attending, please RSVP here.
I wasn't around when they did the other coin burns but I know they have another planned. Are they actually going to buy X amount of coins from exchanges and what not and actually remove coins from the circulating supply and then "burn" said coins?
Or are they just gonna take coins they have that have never been in circulating supply and "burn" them?
If its the latter then imo it's not really a coin burn. Because they arn't taking anything out of circulation supply.
So lets say they will burn 10,000,000 coins. The current price on Binance is 11 cents. So they would need to go spend something like $1,100,000 to buy the coins out of circulation and then burn them.
Something tells me these "coin burns" are just for show.
Also they need to send the coins to the normal burn address.
The whole idea was that 0.4 would introduce the routing of traffic, but it still doesn't work. I know this all takes time to develop, but come on guys, if you set a roadmap for 0.4 to be the routing part and then release it with the main thing it was supposed to do not working... then what is left? Would be nice to have a bit of clarity for once.
I remember the times when the Ether fell in price from $ 30 to $ 6, there was a panic in the market, many were shouting: "everything is gone." I, who bought Ether at 80 cents per share, were also scared then. But time passed and once Ether became worth more than 1000 dollars. Believe me, if you want to cross the road carefully, do not abuse alcohol and drugs, then you will live to the price of an Ether of one million and even 10 million dollars, and the price of the Substratum will probably be above a thousand dollars by that time.
About the price Bitcoin in the next few years, I generally will not speak. Many of you can not even imagine such a price in your head. Very soon the stock exchanges will indicate its price not at the cost of 1 bitcoin, but at a cost per 1 satoshi. Lightning Network will arrange a real technological revolution with bitcoin. Blockchain will break into the house of every family on the planet and change life beyond recognition.
Eat raw fruits and vegetables, breathe clean air, use only open software when working with private keys, enjoy life today and do not sell your crypto currency in spite of any hesitation. And then your grandchildren will then say to you: "Thank you, grandfather, that many years ago you believed in the crypto currency" ...
(Dedicated to Satoshi Nakamoto, Vitalik Buterin and Justin Tabb ...)
Я помню времена когда Эфир упал в цене с 30 до 6 долларов, на рынке была паника, многие кричали: "всё пропало". Мне, покупавшему Эфир по 80 центов за штуку тогда тоже было страшно.
Но прошло время и однажды Эфир стал стоит больше 1000 долларов. Поверьте, если будите переходить дорогу аккуратно, не станите злоупотреблять с алкоголем и наркотиками, то доживёте до цены Эфира в миллион и даже 10 миллионов долларов, а цена Субстратума к тому времени наверняка будет выше тысячи долларов.
О цене Биткойна в ближайшие несколько лет я вообще говорить не буду. Многие из Вас даже в голове не смогут представить такую цену. Уже очень скоро биржи будут указывать его цену не по стоимости за 1 биткоин, а по стоимости за 1 сатоши. Лайтнинг Нетворк устроит настоящую технологическую революцию с биткоином. Блокчейн ворвётся в дом каждой семьи на планете и изменит жизнь до неузнаваемости.
Кушайте сырые фрукты и овощи, дышите чистым воздухом, используйте только открытое ПО при работе с приватными ключами, наслаждайтесь жизнью сегодня и не продавайте вашу крипту несмотря ни на какие колебания. И тогда потом Ваши внуки скажут Вам: "Спасибо, дедушка, что много-много лет назад вложился в криптовалюту"....
(Посвящается Сатоши Накамото, Виталику Бутерину и Джастину Табу...)
On 28th August, the CEO of Substratum Justin Tabb announced the third product of the future Substratum ecosystem – Amplify. Based on the announcement and recent YouTube updates, the Amplify product is designed to be a fully decentralized and distributed ledger platform that encompasses the benefits of both traditional distributed ledger exchanges (such as Bittrex, Coinbase and Binance) and Decentralized platforms (such as IDEX and Etherdelta).
While there is a lot of hubbub across Medium, Reddit and Steemit about the differing views regarding the Amplify product announcement, along with the plans to release an ICO to fund this ambitious new part of the ecosystem, I felt it was worthwhile to put pen-to-paper (or finger-to-keyboard) to provide some of my personal perspectives as a long time holder who missed the initial ICO.
For those in the community who wish to entertain a short read, please note my disclaimer – I currently hold SUB tokens, assist the community as a TG moderator, and would consider myself of intermediate-level in terms of technical knowledge of blockchain and project dynamics. That said, I may state some details wrong, and of course some of this writing is in lieu of further details and Whitepaper of Amplify from the Substratum team. (if I have made any errors please tell me so I can correct) This is also my first article written on Reddit… so be nice to me. 😊
Why even Amplify right now?
Purely speaking for long term development of the SUB ecosystem, I would MUCH rather the Substratum team create the Amplify Decentralized Exchange (DEX), instead of a third-party building it as a dApp once SubNode is released. This would ensure it integrates seamlessly into the ecosystem.
There is some commentary from observers that there are already too many competitors in the exchange space, so why bother with Amplify? In my opinion, those short-sighted people will be grasping at the fins of the spaceship on the journey to the moon (sorry, I just had to insert a crypto-metaphor)
Not pursuing the Amplify platform in my eyes (using the analogy of Apple that Justin enjoys), is like Apple not ever developing the AppleTV product because there are other companies that are successful in the media-streaming space, and then also half expecting those companies to integrate it smoothly with iPhone, iPad and iMac platforms.
But more importantly, let’s take a small step back and look at the current infrastructure surrounding crypto and the internet. We have the Crypto-Space itself - a maturing tech-sector that is under constant scrutiny by both the World Governments and the Financial sector because it is disruptive and revolutionary – and we have tech-enthusiasts, traders, investors and developers worldwide who want to be part of this. Substratum exists between these two worlds right now - the core product Substratum Node (SubNode) is a way for technology to become a pathway to allow every global citizen to be part of the Crypto-Space in one way or another regardless of what Governments, Financial Institutions and World Banks want to impose (within most reasonable views anyways).
With China, Russia and other countries trying to enforce bans on exchanges, restriction of use of VPNs, Great Firewalls and brute force banning of IPs, many people who want to get involved in crypto at all are going to be looking for a VPN or an anonymous pathway into crypto. With Amplify, EVERY SINGLE USER in a restricted country who is crypto-minded will now have seamless access to a DEX at their fingertips!
Also, more importantly for growth, this will also assist with mass adoption for users who are new to the crypto-space, since anyone running SubNode to generate SUB tokens can eventually use the fiat integration to cash out their SUB and AMPX tokens straight away. This is useful for people who are crypto-adverse, or simply don’t want to hold any cryptocurrency. It also captures an audience of VPN users who are simply using trying to browse the open, free Internet, and expose them to crypto and the Substratum ecosystem.
I feel like some of the community have forgotten about many of the things Justin said in the ‘early days.’ Namely, how his vision for Substratum was a way for the average person to be exposed to cryptocurrency in an easy-to-use interface.
What better way to do this than start integrating a native DEX in the ecosystem as soon as possible?!
Not to mention the two-year timeline to get SEC securities licensing approved. Let’s face it, that’s a long time and a lot of ‘lambo’ and ‘Quantum Immorality’ cycles.
Why ICO the new Amplify exchange and not use SUB ICO funds or ‘reserved network’ SUB tokens?
Several reasons come to mind from my perspective as a SUB token holder:
Many long terms holders would probably agree with me, that it WOULD be going against the original Whitepaper (WP) to fund another project with the original ICO funds. Especially because those funds should be dedicated towards the production release and further expansion of SubNode as the underlying product. I would certainly be disgruntled, heck I'd be pissed off!, if a completely separate project was funded with seed capital that was intended on developing SubNode, especially when the first production version was not complete.
Furthermore, Amplify needs at least $5 million USD for compliance alone to trade Securities – this is just for the legal and SEC securities license applications. Imagine the Substratum team having to liquidate even just $1 million worth of SUB tokens on the open market to inject these funds into Amplify! That would most certainly crash the SUB market price, since the average daily volume is around $844,000 USD (at time of writing 12th Sept according to CMC, https://coinmarketcap.com/currencies/substratum/historical-data/). That would certainly upset the community at large AND cause losses for token holders who are speculating purely on price.
Additionally, Justin has stated in several forums that the team still retain about 90% of the ICO funds, which is amazing by any measure in the world of crypto-projects. But that doesn’t validate the view that there is room for these funds to be withdrawn to develop a separate project. If the project has gotten this far on the funds used already, imagine how much farther SubNode, (SubHost and CryptoPay), will develop using those funds in the coming years?!
Should the Amplify ICO accept SUB tokens?
My feelings are mixed on this. Sure, the ability for SUB token holders to participate in the Amplify ICO using SUB tokens would be convenient, but I certainly don’t think it would be the best way for me to spend iron-fist SUB token being held for mass adoption of the ecosystem. There is also incentives to hold for higher earnings on running a Node once production version is released before the end of the year. Trading that out into the Amplify ICO would negate some of that perhaps.
From a ‘trader’ point of view, allowing SUB to be used for ICO participants could increase the price level of SUB token, with more demand for SUB tokens leading up to the Amplify ICO funding period. But Justin and the team have been long time proponents against that type of behaviour in the space.
But as mentioned above, the Substratum team would have to go ahead and liquidate SUB tokens received through the Amplify ICO on the open market, or trade into BTC and ETH, which could result in dramatic price shifts and margin losses.
It wouldn’t be very hard for people to simply trade any SUB tokens they want to use into ETH or BTC themselves and then participate in Amplify.
Overall, I too have my concerns over certain aspects of this new path, but they aren’t major. Detail is important, but I can’t help but be excited about what Amplify means to the ecosystem of Substratum in the LONG-TERM. Is an ICO the best way forward for significant growth and vertical integration of the ecosystem? With all things considered, I would have to agree it is. What started as a basic Whitepaper for SubNode over a year ago, has now developed into something much more grand.
As stated in the title: I for one see myself as a humble holder - not a shareholder.
I don't get a share in the company - I get a share in the vision.
Thanks for reading.
I have a lot more material relating to my perspective of the technical side of the Amplify release, its dynamics Justin has explained, the reasoning etc etc. If this isn’t a complete flop, I’ll consider writing a follow-up more technical article.
After having seen the Youtube announcement, explaining “project three”, the Amplify crypto exchange in some detail, I must say that the Substratum team is continuously proving to make products that are really easy to use, making mass adoption of their product suite quite realistic.
On the other hand I must say that I am concerned that Cryptopay and Amplify change the character of the Subtratum Node to such an extend, that it is becoming unrecognisable.
Substratum Node is supposed to be an anti-censorship, decentralised new type of internet, which people can install and run totally undetected, therefore giving them the protection they need in countries that censor the internet. It is anonymous, and undetectable.
Cryptopay and Amplify are meant to be seamlessly integrated in Substratum Node, and give the user the easy access to cryptocurrency trading and earning money by validating transactions. But in doing so, they give up their anonymity, link their bank account to their Cryptopay account and therefore make it clear to any interested governmental organisation, that they are running a Substratum node.
It is no longer anonymous and undetectable.
I know this may sound weird but, I'm that crazy guy that only wants CryptoCurrencies. Will I be able to accept Fiat with CryptoPay but receive Bitcoin or whatever coin/token I want? Or even just accept and receive fiat? Like PayPal?
Substratum Node is now available on AUR (Archlinux User Repository) in four flavors.
You should have no issue in using these packages if you are already using Arch Linux or any derived distribution, and familiar with
the project deserves exposure and mass adoption...has to be free airdrops...eventually the tokens will become more valuable than trying to ICO to a few hundred thousand buyers...in my opinion Blocktivity shows Ethereum has 70,000 unconfirmed transactions operating at 100% capacity.
Are the efforts of the Substratum team becoming too diffuse? I hope not. I want Substratum to be successful!