TEA Project AMA w Coming.chat — Jan 24, 2022

The TEA Project participated in an AMA on January 24, 2022 with Coming.chat. The following is a transcript of the event with relevant links added in.

Host: Lan Ma
Guests: Kevin Zhang, founder of the TEA Project
George Pornaras, core team member of the TEA Project
Participants also included various guests from Coming.chat Telegram including their admin JJuunee.

Lan:
Hello Everyone! I’ll be your AMA host today!
We’ll first go through some Q&A and start to take questions after that.
Let’s welcome Kevin and George from TEA Project!

George:
Hi everyone

Kevin:
Welcome

Lan:
Could you give us some background information about Tea Project?

George:
The TEA Project is a decentralized cloud computing platform with the scalability to meet the computing needs of the emerging Web3 ecosystem. Existing blockchains are limited by scalability and cannot meet the large-scale computing needs typical of Web3, and their add-on solutions (such as L2 and sharding) also fall short of the mark. The TEA Project’s use of a two-layer blockchain is tailored to run high-frequency Web3 dApps at full speed, all while ensuring consumers data privacy.

Lan:
How does TEA Project relate to Web3?

George:
You can think of TEA Project as a full-speed decentralization layer for Web3. Our native binary format is WebAssembly, which is fast, secure, and easy to output to from a variety of different programming languages. This makes it easier for developers to migrate to Web3 via the TEA Project.

One big reason that Web3 has not yet become reality is the lack of framework. Our existing blockchain infrastructure is far from ready-to-use. It is like pre-year-2000 in the web 2.0 era.

Lan:
What doe the role of TEA Project in this new era?

George:
TEA brings together many different technologies, from IPFS to Substrate to TPM and GPS modules. It’s truly a cutting edge dual layer blockchain that brings together many different pieces to form our project as a basis for Web3’s new infrastructure.

TEA uses all of these technologies. We allow the owner to own a TEA node, run the customer’s application, but they know nothing about what it runs, what’s the data, or what’s the code. Totally nothing. They know nothing but they’re still able to make money.

Lan:
That’s cool!

Can you give us some applications of how TEA Project can be used?

George:
The TEA Project allows users to trust their data to decentralized miners without fear of privacy breaches. This makes it an ideal platform for anywhere personal information needs to be protected, from home-based IoT devices to patient health records.

One simple example that we made more than a year ago. If you want someone to process your picture but do not want him to see the picture, how? TEA can do that.

Lan:
Do you have a demo to show?

George:
Apparently we can’t post links but if you go to Youtube and search TEA Project, you will find many explainer videos and a demo.

Lan:
Sounds good!

Kevin:
I think sharing links is disabled for this channel

Lan:
Is mainnet live yet?

George:
We’re currenlty running an incentivized testnet. So although mainnet is not yet running, there are very good rewards for users to participate in our testnet right now

Lan:
How do we participate?

George:
You will need the polkadot.js wallet extension installed, and you can visit our homepage which has instructiions and a link to our wallet

Kevin:
We are also designing the integrated TApp portal inside Coming chat mobile client

George:
I believe Lan there’s going to be rewards of contest T tokens to members here. They can participate as investors … they don’t need to mine

Lan:
We’ll share the link afterwards, it seems we don’t have access to share link right now.
How to understand the TEA Project quickly?

George:
Watching our YouTube videos will be the best. We have explainer videos as well as tutorial videos on how to be a contestant in the mining contest

Lan:
Since the mainnet is not live yet, I assume tokens are not listed?

George:
There’s no exchange listing yet. The mining competition uses test TEA and test CML

Lan:
Please explain more about TEA and CML?

George:
TEA is a stable coin (pegged to compute resources, not to fiat) that’s used as a utility token. It’s also used to pay for transactions on the network (gas).
CML is our NFT. It’s considered rare and will be prized by both investors and miners who need it to mine on the platform
Each CML has a lifespan, so miners will need to purchase a new CML seed if they wish to continue mining after there existing CML reaches end of life

Lan:
Does TEA token have cap? how about CML?

George:
All TEA comes from mining rewards so its supply is determined by the number of mining CML on the network
CML is limited. The genesis block will contain only 10 000 CML

Lan:
CML sounds more valuable?

George:
Yes there will probably be many miners looking to put their TEA rewards into something that can hold value better. CML will be an ideal investment target for miners

Lan:
Cool
Here’s the most exciting question: how can I make money out of TEA Project?

George:
As an investor, you can stake your TEA tokens into mining machines and earn a share of their mining revenue. You can also buy TApp tokens, such as the TApp token issued by Coming.chat

George:
Each TApp also has tokens for it, so if you believe in the TApp you can invest in it by purchasing its TApp token.
Everyone has a chance to move up the leaderboard. Every week we allow participants to exchange some of their contest TEA for mainnet CML vouchers.

Lan:
A lot of concepts to digest! I wish there’s a quick start guide

George:
Maybe someone from the coming.chat team can post it

JJuunee:
🖼 Quick start for epoch 8 for investors: https://www.youtube.com/watch?v=WvNBeoHhlkM

Guide for mining contest: https://github.com/tearust/teaproject/wiki/Mining-Contest

Newbie guide for mining contest: https://github.com/tearust/teaproject/wiki/%5ENewbie-Mining-Contest-Getting-Started-Guide%5E

George:
Thanks @JJuunee !

Lan:
Great! Let’s move to our last question — are there competitors in the market?

George:
There are many other decentralized computing projects, such as ICP, OASIS, but we run very differently on both technology and tokenomics. Like I mentioned earlier, they aren’t designed for miners with everyday hardware and so will suffer from insufficient decentralization because of it

Lan:
Can I say those competitors are not competing at the same level?

George:
There’s some differences in scope. We are looking to be the preferred platform for all developers and to miners with simple hardware. If you look at a project like OASIS, they are much more academic oriented. We think the TEA Project will have a wider set of use cases

Lan:
Very exciting!
Now, we’ll take questions from the audience. For the next 2–3 minutes, please type your questions and we will take the5 most valuable questions to reward 10T.

Coming.chat user question:
Do you have your own network or are you broadcasting on a different network? Meanwhile, metaverse or Web3 projects began to emerge. Can you give some information about how you will compete with so many projects?

George:
We have our own network, based on substrate & IPFS. There are some other projects that are similar but they require datacenters and usually aren’t approachable by normal miners with everyday computers

Coming.chat user question:
This only for computer now?

George:
Yes. Our mining wallet works best on desktop anyways.

Kevin:
Polkadot js extension is only for browser on PC. so we are working with the Coming.chat team to design the mobile TApp portal inside the coming.chat mobile client.
OMG! too many questions

Lan:
Wow! let us quick go through your questions

Coming.chat user question:
Where will you see your TEA Project and how will the environment of the crypto space change over the next few years?

George:
More projects will need secure computation speed than they can’t currently get with their own blockchain. We look forward to becoming a middleware layer for these blockchains and they can farm out tasks to us

Coming.chat user question:
The name “TEA” is interesting. Where did you find this name?Is there a reason for that name?

George:
TEA = Trusted Execution and Attestation. It was a name chosen by Kevin to represent what the different layers of our blockchain do

Kevin:
Coffee or TEA is widely used in software industry.

Since JAVA is used, we use TEA.

Coming.chat user question:
There are some common core issues in cryptocurrency and blockchain, namely: Security, Excessive Volatility, Interoperability….How did TEA overcome these problems?

George:
Blockchain isn’t fast enough, and centralized computing like AWS isn’t decentralized. Those are the two issues we are trying to solve

Lan:
Q from @ngphonghao What are the plans to educate and raise awareness and adoption among the community to make more people understand about TEA easily (even for beginners)?

Kevin:
Our testnet is our main tools to distribute our CML token and acquire supportors (miners, devs).

@George You can explain more about our current testnet and mining competition

George:
Our mining competition is one aspect of building our community. Users can participate in our testnet, try out TApps and earn mainnet vouchers

Kevin:
BTW, the mining competition is not only for miners who have mastered crypto mining techniques. It is for everyone.

Many of the players in the mining contests do not run mining machine at all. The create TApps and gain TEA from investment

Community is always the top priority for any Web3 project

Coming.chat user question:
Regarding marketing, what plans, ideas and next steps does TEA have to attract investors and users?Does TEA intend to take advantage of the popularity of social media like Facebook, Youtube….to make TEA more popular?

George:
Our mining contest features teafluencer TApps that are linked to Youtube videos. You could purchase the TApp tokens for these videos and promote the videos to do even better in the contest

Lan:
Great questions! If your questions are answered, please PM me afterward to claim your 10T reward.

Last, we have little fun activitiy for everyone!

We prepare 3 easy questions for you to answer, the first correct answer will get 10T.

Here is the first question: Is TEA Project a layer 2 blockchain project?

> Yes
You’re the winner.

2nd question: Is mainnet of TEA Project live？

> No
You’re the winner!

3rd question： Is TEA Project built on Ethereum?
> No
You’re the winner!

…
Again, thank you coming.chat for this great AMA opportunity!

George:
Thanks everyone for participating!

Lan:
Thank you everyone!

Kevin:
Thank you very much. See you in TEA!