Cherry Network AMA SUMMARY
Could you tell us under what circumstances you came up with the idea of creating #CherryNetwork? Please tell us who you are, and what your project offers for the people.
I’m a slow typer but I’ll try be brief! I came on board the Cherry team in early 2021. At this point the founders had already made great progress on building the tech. I was stoked at their vision and I’ve been helping to grow the mission since!
The idea came about when our co-founder @bueris tried to build a dapp and it didn’t work to his expectations.
He’s a very skilled guy. A very capable engineer. But he found the present day web3 stack limited. He eventually simply built the product he wanted just by hacking together various pieces of technology and crossing his fingers. He decided there had to be a better way. Fast forward 14 months, that better way is Cherry! We’ve built a really extensive toolkit for dApp developers to save and interact with a rich and versatile data stores in a 100% decentralized and trustless manner.
So that’s what we do! Cherry is about expanding and extending what’s possible in the bridge between smart contracts and file management. This is really important for the future of Web3, defi, and NFTs, and everything in crypto!
The tech behind Cherry is really solid. That’s why so many partners are working with us.
Please tell us more about the benefits of joining #CherryNetwork world? Please say something more about your token and its use-cases.
As I touched on in the first answer, we’re building a layer one blockchain network. This means ours won’t simply be a token or dApp, but rather a platform where dApps and other things such as NFTs may be built. In addition to this powerful runtime where smart contracts can run, we also have a storage module whereby people can store their files in a safe, private, and distributed way. The novelty of Cherry Network is that files stored in our distributed file storage can be accessed by the smart contracts running on our runtime. This means that smart contracts which are limited to using expensive and limited online storage on other blockchains, can now access databases and other complex data structures completely trustlessly on Cherry.
We believe this is an important feature useful to a lot of applications that must store huge amounts of data. Over 44 projects have already committed to joining the Cherry Ecosystem and building on our technology, but we want more people to get involved! That means you! The best way to do it is to get your hands dirty experimenting with our code and chatting with our community to learn the ropes. This ecosystem is underpinned by the $CHER token, so token holders will benefit as our ecosystem develops over time.
We’ll be launching our testnet shortly, and we plan on building out our documentation over the next week or so. Keep an eye on our announcement channels for that.
If you’re a layman and what I just said above reads like gibberish, keep reading! We appreciate diversity of skills and while Cherry is a great technical product for dApp developers to leverage, there’s room for people with backgrounds other than just engineering. Check out the dApps building on Cherry and have fun trying to break them. Cherry is more of a community than a company. We are very friendly and want you to get in touch!
Your project gives the impression of being highly technological, what is revolutionary and different from other similar projects?
The Cherry Project is a Decentralized Autonomous Organization developing a layer one blockchain network optimized for data operations. Cherry serves as a purpose-specific infrastructure for decentralized applications handling data. Built on Substrate, it implements state of the art cryptographic standards to provide for second layer scalability (zkSNARKs), and features a node-level IPFS integration that allows the Cherry Virtual Machine to natively interface with an indexed queryable data storage and referencing facility. This innovative native node to IPFS communication mechanism allows smart contracts to interact with an updated state of the data in runtime. These advanced features come prebuilt in our core, and are accessible on other blockchains through Cherry’s interoperability channels. Decentralized applications built on Cherry or on many of the most renowned decentralized networks can now leverage Cherry’s features to augment their dApps. Most of the complexities of building integrated web3 applications handling data are, thus, abstracted away from the core, allowing smart contract developers to rely on a rich base layer toolkit, and ultimately focus on best serving their customers.
This is a niche that simply isn’t being addressed by other projects. At least not as efficiently as Cherry, if at all. Our strong value proposition is why so many big industry names have backed us in our vision
Basically, if you’re building blockchain solutions that rely on Web3 concepts like smart contracts and decentralized file storage, you’re guaranteed to want to use Cherry’s functionality at some point!
Tell us please, do you already have a marketing plan for the future, what are you going to do, to make the project popular?
Yes! That’s a big emphasis right now.
Right now we’re focussed on communicating our vision. Ours is a really complicated technical project and I’m amazed how thousands of people can be engaged and excited by what we’re doing even though they don’t understand its intricacies in depth.
Ultimately, Cherry is a product for its users and we want its community to drive its development. You tell us what things most interest you, and we’ll build it!
From a marketing perspective, our focus is playing to our strengths:
So we rely on the many industry leaders who support us, through AMAs and promotions and announcements for example. Secondly we have a strong emphasis on communicating what Cherry does. Not just memes and hype — actually showing how our tech is already being used. And finally we rely on word-of-mouth and buzz from our Cherry family to spread awareness about the problems we are solving.
In this way we have an unfair advantage: we’re lucky enough to be solving a real-world problem which makes our marketing easier. In the coming weeks we have an extensive marketing drive mapped out, centred on exposés of the dozens of exciting projects that are building on the Cherry stack!
Do you plan to share your technology in other places than just the cryptocurrency and blockchain world in the future?
This is a nice question
You often hear about “adoption” in crypto. It’s a buzzword. “Mainstream adoption”, “industry links” etc.
For the most part, to be honest, when people use this term they are just speculating and making claims they can’t back up.
However, at Cherry we hope we can actually deliver in terms of mainstream adoption and spreading into the non-crypto industry. Why do we think we can do this? Well it’s simple: Cherry solves a pretty practical use case. Any non-crypto companies which want to get on board the Web3/blockchain trend, even a little, need to have reliable tools and capabilities to build on. Currently, so many crypto tools and features are an absolute disaster to work with in the real business world. So basically, any companies that are branching into Web3/Blockchain will likely have a use case for Cherry
I can prove this: look at the companies experimenting with crypto lately. Twitter (their bluesky project), Facebook (meta), even Pepsi with their NFT competition last week. They all need tools to manage their digital assets easier, especially when it comes to decentralized information resources. We think that Cherry as a solution is exactly what non-crypto companies need
So we’re reaching out to many organizations outside the crypto niche (that’s my job)
I need to ask about it, please explain to our community on which chain do you want to build #CherryNetwork and why? Maybe you want to implement more chains in the future? Some chains like SOLANA, for example, had problems last time.
Cherry is its own chain. We built based on design concepts from the Substrate paradigm, but the Cherry Chain is fully self-run and administered. We are going to test out chain speed again soon but it’s very fast. It needs to be fast! And last time we clocked the tx/s throughput it was as fast as the leading blockchain platforms
In terms of interoperability with other chains/platforms:
Cherry is interoperable by design. And we are on many levels… But what does that mean exactly?
Well for one we are compatible with the main dApp programming paradigms. A lot of the best known dApps can be quite easily ported into the Cherry runtime with minor modification. This means that users would be able to access all of their favorite dApps directly within Cherry if their developers wanted to deploy them.
In addition to that we are based on Substrate, the same framework Polkadot is built on. Polkadot, as many of you already know, aims to become the “blockchain of blockchains” whereby different specialized blockchains connect to one another through the Polkadot relay network. This allows developers to focus on the specific usecase of their own node, while relying on Polkadot as a whole for the more basic functions such as consensus forming and block store management. While Cherry doesn’t plan to join as a parachain just yet, we are contemplating this as an alternative for the future as we try to make Cherry’s features accessible to even more dApps across more networks.
Lastly, the core team has spent a lot of time and effort developing the most superficial version of interoperability: bridges. Bridges are pieces of code that connect one network to the other. In our case we understood most of the users and best known applications exist on general purpose networks such as Ethereum, Binance SmartChain, AVAX, etc. Cherry has a lot to offers, but it makes no sense to force developers to choose between a better and more functional infrastructure or easy access to a lot of potential users. Bridges guarantee the best of both worlds: dApps can run on Ethereum and then execute functions on the Cherry network remotely by calling the appropriate interoperability Channel. This makes for reduced spending, more functionality, better user experience, without the overhead of radically changing your dApps.
Imagine it, one day average person asked you why they should invest in your project, what would you say to convince them?
I think the easiest way to explain it to the average person on the street would be like this:
You’ve heard of bitcoin and probably blockchain right? And you know that blockchains can be used to solve all sorts of business and consumer usecases? Right?
Well at the moment, people who want to build solutions on blockchain haven’t been able to do what they need. Especially if they use smart contracts and decentralized finance and NFTs! Because the links between the different entities in the crypto landscape are too weak.
Cherry extends and expands these links, meaning that vital business information can flow between different parts of the value chain easily. As proof of what we do, look at all the great partners we have. So if you believe me when I say we’re focussed on an important link in the Web3 landscape, and you can see the backing we have from all the big hitters in this industry, is it not obvious that Cherry will be a success???
Think of it like investing in eBay or PayPal or Google when they were just tiny companies. You could be an early investor in one of the key players in the future of this exciting tech revolution!
Do you have any target for your project? What do you wanna achieve next? Are your team working on increasing value of the token or developing the project?
Yes we’re a very target-driven company. At the moment our focus is on a few different milestones:
- our token sale, which launches next week on the 21st of December on various platforms. You can read about the details on our channel t.me/cherrynetwork
- after the sale and before 2022, our testnet launches, this is extremely important to fine-tune the capabilities of our tech stack which is of utmost significance to our vision
- in January next year we will be focussing on a couple of things: growing our already thriving partnership base, communicating our vision with all our new Cherryfrens in the community, and getting ready for the mainnet launch
- mainnet launch happens around end of February next year
So we’re super busy! But to answer the final part, Cherry is about creators. We’re not focussed on token price alone because we know that long-term, our token price will thrive if we deliver on our goal of 100 major projects building in the cherry ecosystem by the end of 2022
Now NFT is developing and becoming a new innovation in the Blockchain world. However, many New People/Users still don’t understand how to create NFT. So, How does Cherry network solve this problem? Do you have plans to educate about NFT to Non-Crypto People?
As you can see from all my answers, I am a businessperson and I care about solving business needs. The biggest problem in the business of crypto is what you mentioned: end users and developers can’t interact with the tech easily
Cherry provides a comprehensive toolkit for dapp devs to build on. So you’ll see devs building shops, and DAOs, and collectives on Cherry all focussed on NFTs
I was literally talking to a comic book artist before this AMA. He wants to mint comic books on the Cherry blockchain so they’re collectible like real comic books. This is the kind of thing that Cherry will allow developers to create on our chain: the Cherry Original is our take on the NFT. Stay tuned to our channels to find out more in the coming days about how NFTs are one of the many use cases that Cherry will hypercharge.
How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
Our founding team have over 50 years of experience in crypto and cryptography. That’s an awful lot for a technology that has only been around a few years! For example, our founder and CEO Herman (@therealcherry) has already launched his own crypto projects that have at one point reached the top 10 in market cap in the whole cryptocurrency ecosystem! And this was at a time when prices were sky-high.. And the other founders are from the very top of the engineering and academic worlds
In terms of business and marketing experience, we have a great asset in Jenny (@jennyfromtheblockchain), who has headed up the marketing efforts of some major publicly-listed companies. (And also me I suppose, I have worked in management consulting and tech startups for like 10 or 15 years at this point, I don’t even remember!)
Also our partnerships! Please check out our channel and medium (blog.cherry.network) for more details!!
How do you think about the Asia market for the development of your project? Does your project have any global ambassador programs to attract more users?
Good question I can answer this well. As I mentioned before, Jenny is now our CMO and she’s from Thailand🇹🇭 and has deep knowledge of the Asian market. The Asian ecosystem is really thriving these days which is great to see, so Jenny is a real asset for us
I am personally very excited about the SEA and APAC regions, and I know I speak for the whole team when we wish this demographic were more represented in the crypto sphere.
You guys have great engineers and we’d love to have them on board either working with Cherry in some capacity, or building on our infrastructure. We’ll be launching a developer outreach program targeting specifically this region in 2022 followed by an incubator offering for the best projects.
In terms of ambassadors. We want you! Join our Discord and start contributing. Help the community and maybe play around with the code. If you’re not technically inclined there’s still tons for your to do! Just join and find your place in our amazing ecosystem.
We’ll be releasing a more detailed platform for ambassadors to be selected and onboarded more officially, but for now just wing it! If you like the project, just do it!
Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?
As I already mentioned, NFTs will also be available in the Cherry ecosystem. We call them Cherry Originals. The great thing about Cherry Originals is they leverage the capabilities of the Cherry stack. So the Originals will be easier for users to transact and store and even hire out to other people, because as I explained earlier, Cherry is focussed on the intersection of DeFi, smart contracts, and decentralized file systems… which is basically what NFTs are!
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
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