A Scalable Multi-Blockchain that is Designed to Process Millions of Transactions Within Seconds — Interview with Kumar, Co-Founder of Bitindi

How's everybody doing? This time around we are talking to Kumar — Co-Founder & lead Developer of Bitindi Chain.

Chris: I like the Bitindi Blockchain Network website. How would you describe the mission of your company? 

Kumar: Technological innovation is the driving force behind the advancement of the blockchain industry, but many innovative projects have been misunderstood and ignored at their early stages. We have witnessed the growth process of great projects. Recalling that Ethereum and Polkadot were questioned as altcoins in the early days, they all went through difficult times. Therefore, Bitindi's mission is not only a public chain, but also to focus on the discovery and support of high-potential developers and innovative projects. Bitindi is committed to becoming the birthplace of innovative technologies and innovative businesses, and building a complete ecological loop of technology development, application promotion.

Chris: Scalable | Intelligent | Transparent | Sustainable - can you elaborate on each of these amazing slogans? 

Kumar: We started development keeping the future scalability issues in mind, so we keep it open for any possible scalability update.  

Blockchain should be Intelligent enough to secure themselves from any security threats. We at bitindi keep it in mind and created a secure and Intelligent consensus mechanism.

We believe in the open source economy that is why we make every app public, every code we are working on so that it not only helps us but other developers and the creator of something awesome.

We are serious on an environment friendly economy that's why all our products are eco friendly and even our team use eco friendly systems and minimum energy consumption operations

Chris: All of the major cryptocurrencies have issues, is that right? How come? 

Kumar: Yes, I fully agree that cryptocurrencies have attracted a reputation as unstable investments, due to high investor losses as a result of scams, hacks, and bugs. Although the underlying cryptography is generally secure, the technical complexity of using and storing crypto assets can be a major hazard to new users.

Unlike traditional finance, there is no way to reverse or cancel a cryptocurrency transaction after it has already been sent. By some estimates, about a fifth of all bitcoins are now inaccessible due to lost passwords or incorrect sending addresses.

The solution is simple and many projects are in the process to deal with this issue, we need to develop dapps which are more user friendly and easy to use security keys.

We are also working on a mobile app which utilises you mobile number as a medium to your wallet in which even if you lose your wallet but if you use same mobile number you never lose your money

Chris: Got it! And what are the main benefits of Benefits of Bitindi Chain? 

Kumar: We give anyone, anywhere easy access to the digital economy, by bringing a 1000x improvement in blockchain speed, scale, cost and user experience.

Bitindi is running the energy efficient Proof of Stake consensus mechanism. Validators and Delegators stake BNI to secure the network and earn rewards. The staking process is democratic, meaning you are always in control of your funds.

Bitindi supports the most popular programming languages, flexible tools, and comes with clear and canonical documentation. You can quickly start and deploy your application on a blockchain designed with real use in mind.

Chris: Cool. Tell our readers about the Escrow mechanism you got please. 

Kumar: I personally felt the need for a decentralized Escrow , it would deviate from a centralized version to a decentralized version. Even though escrow is a third party which handles money, funds and securities etc, there is still an element of risk involved, such as human error in the form of collusion, mistakes or negligence. A decentralized escrow would be an independent mechanism that would remove the need for human interaction, or at least cut it down to a minimum. That is the main reason why decentralized escrow will be the core part of the bitindi platform.

Chris: Any advice to your entrepreneurs who are starting new projects in crypto now? 

Kumar: I personally suggest finding a solution for a problem and starting to look for available open source solutions, it has become a movement and a way of working that reaches beyond software production. The open source movement uses the values and decentralized production model of open source software to find new ways to solve problems in their communities and industries. There is no problem using it to save time, money and work hours.

Chris: To finish up: how important is your community in the overall play?  Where can we follow your updates?

Kumar: It’s no secret that cryptocurrency is a pretty specific industry. We aren’t even talking about the ongoing struggles between the fiat and digital worlds. Today we are experiencing what happened with personal computers in the early ’80s or with internet technologies in the 90’s — crypto became the “Terra incognita” of the digital community. Today, its world gets gradually populated with new places and players, such as startups and new blockchain ideas.
We follow a different way of a process which involves direct connection with every individual member of our economy. Communities like Telegram, Twitter, and other social media platforms help us build a crypto community. Engaging influencers, investors, developers, thought-leaders, fans, enthusiasts and other users on these platforms create a community that can promote our project.

Building a crypto community can also foster crowdsourcing and ideas that can propel the project forward. You can also develop relationships with your followers that ensure your project grows well into the future.

Join us at:
Twitter:- https://twitter.com/bitindichain
Telegram :- https://t.me/bitindichain