SIBERTY NETWORK & LYRA AMA RECAP

Cofounder of Lyra Mr. Slava Gomzin was in an exclusive AMA ( Ask Me Anything ) with Siberty Network CEO Christian Abraham on the Siberty Platform. We got to uncover all the development and the futuristics plans about Lyra. Everything was explained in detail, community were also opportune to ask and get answers to their question, details below.

Q1. Your project Lyra, what is it about, can you give us a brief?

Lyra is a little bit different from other crypto projects because from the beginning it was created as practical application that resolves real world problem, Lyra project consists of two major parts — Lyra blockchain network and Loyal Shopper application.

• Loya lShopper app is using Lyra blockchain as communution and database while
  * Lyra blockchain uses LoyalShopper to prove blockchain has the real purpose Loyal Shopper application allows merchants on Shopify and other ecommerce and in-store platforms to manage their own rewards, gift cards, promotional coupons, and store credits programs based on crypto tokens maintained by Lyra network.

Q2. What motivated you to initiate this project?

Many crypto projects are “thing-in-itself” — they don’t have a purpose or any practical application other than speculation, Working on my previous project, at some point I realized that the market needs different solutions. The market is looking for real products that solve real problems, not just abstract decentralization concept, So I decided to create and design a new blockchain that solves real world problems, Most existing blockchain technologies cannot do it due to multiple limitations, So we had to design and code from scratch.

Q3. What makes Lyra Unique and attractive?

I already mentioned these properties that makes Lyra unique and attractive — practical application that is being developed in parallel with the blockchain.
In addition — there are some unique technical aspects of Lyra blockchain
Let me explain. Most existing blockchains lack fundamental properties required for real-world payment application: low scalability, inability to create custom tokens and smart contracts, unreliable transaction settlement process, very complex and heavy client implementation. That’s why we decided to design and code a new blockchain. It’s not exactly blockchain — it is block lattice
So block lattice architecture with DPoS based consensus algorithm create unique features.

Q4. Can you explain to us the Lyra BlockChain Network of the Lyra project. Is it exactly the same as the Ethereum BlockChain?

No, it’s completely different.
Speaking of Ethereum — it is great, but too complex, slow, and expensive for many practical applications. Ethereum allows to create very flexible, fully customizable (programmable) smart contract based tokens, at the expense of PoW and complexity that requires special programming skills. Lyra smart contracts are “pre-programmed” for specific real world use cases, and therefore tokens can be created without coding by any user within seconds.

Q5. So can one build his project using the Lyra BlockChain Network, Just as Ethereum and Tronlink and the rest of the BlockChain?

No, at least not now. The goal of Lyra blockchain is not to open smart contract language that can create anything, We are focused on retail payments, and currently — specifically on closed looped payment systems. Loyal Shopper app is solution that provides all the smart contract features out of the box. Everything that is needed for merchant to do their business, No expensive programming or even configuration required, LoyalVShopper users don’t even touch blockchain directly. I am talking about merchant users,The end users — customers, buys — will use Lyra wallet so they do know about blockchain.

Q6. What is your vision and the goal you want to ultimately achieve with Lyra. since we have similar projects who claim to be doing the same thing of what you’re doing?

The ultimate goal is building a “regular” business with revenues from selling applications, not tokens. The business that helps customers solve their real problems, while at the same time utilizing the power of blockchain and decentralization. After all, everyone will benefit from it, both application users and token holders.

Q7. what difficulties did you face Starting LYRA?

Good question — there are many of them.
* Designing and building new blockchain technology is not a simple task — that’s one thing.

* Designing and building application that uses blockchain but at the same time “hides” it from the end users that have no experience or intention to deal with blockchain — another challenge.

• Plus we are self funded project, so we should be very careful with our resources and Funds.

Q8. How do you plan to expand in the near future? Any exchange listings scheduled?

We are going to launch mainnet on September 30th. Once mainnet is launched, we will be listed on exchanges. We are in talks with several exchanges, they are actually interested in the project and some of them approached us even before we approached them. So we are selecting the best cost/quality options.

Q9. Could tell us more about the role of Lyra Token, in the Lyra Ecosystem, Total Supply and Futuristic development and others Upcoming development that’s being consider, Apart from the above mentioned?

All good questions. Let me answer one by one

* The role of LYR token — it is used for two main purposes.

* As the voting token in DpoS mechanism — everyone can vote for the authorizer node with their wallet balance and participate in revenues sharing by that node.

* Transaction fees paid in LYR — for new token generation, transfers, trade, etc.

* Total supply is 10 Billion LYR, generated in genesis block.

* Next or upcoming developments.

* Extending Loyal Shopper app from Shopify to cover more ecommerce platforms and brick-and-mortar points of sale.

• Creating decentralized reward token marketplace, so users can sell or trade their unused rewards and gift cards.

Q10. Will there be any burning Mechanism in the Future, to reduce total supply?

No, we re not planning currently any burning, But it is something that can be considered if necessary.

Q11. What are your thoughts on 2020, bullish or bearish?

I am really focused mostly on software development rather than speculation, so I am afraid I don’t have enough knowledge in this area. But in general it looks like the crypto market is optimistic — once again.

Q12. Tell us Why should anyone invest in LRY Token?
We understand you’ve said a lot. But just for confirmation for some newbies in this system?

I am not really asking anyone to invest, I think LYR token has enough function to be just a utility token so it will be purchased by Lyra network users to run their applications or use our applications. I forgot to mention that Lyra has open DAPI, So third party devs can create their apps — the same way we created Loyal Shopper.

Community Questions And Answers

Q. Can you tell us about your team experience?

The core team consists of Joseph, myself, and recently Norbert joined us well
We are all developers. You can get more details here: https://lyra.live/#team

Q. Is this project part of defi project family?

Yes, we consider Lyra is part of DeFi as it is focused currently on closed loop payment systems and in the future on full payment systems.

Q. Don’t you think 10 billion supply is too much?

It is just a number. No one knows the right number. It can be divided if necessary, or burned as it was suggested above.

Q. How did COVID19 affect as it is very hard to visit markets nowadays ?

COVID did not affect ecommerce, probably even the opposite. We are currently focused on ecommerce

Q. Is LYRA model suitable for rebranding and implementing on different networks, platforms?

Not sure what you mean exactly — white label applications? Yes, it is suitable for for white label third party apps. But it cannot be done on different blockchains.

Q. When we see many blockchain-based projects each day, loyalty rewards is not one of main issues. Why did you choose this subject? And how do you involve in existing loyalty card / app etc systems ?

Good question. Several reasons. First, I do have some experience as I worked in retail software industry. Second, loyalty is subset of closed loop systems, so it is still related to payments. We are planning to enter the payments area in the future. Third. existing oyalty systems are not efficient, so there is a gap which we are going to fill.

Q. What is the killer feature of LYRA in the ecosystem and against rivals?

Lyra’s block lattice architecture provides these killer features — fast authorization and settlements (milliseconds), high scalability (hundreds of TPS), light clients (can be implemented on IoT devices and smartcards, and much more.

Q. I don’t understand why on earth someone would want to make sellable loyalty points. As a merchant makes zero sense. I want customers to return, not to sell my discounts for others to buy my products cheaper?

Maybe this research will help you to understand: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-fsi-making-blockchain-real-for-loyalty-rewards-programs.pdf

Q. Alright, then why would I pay for Lyra app, if there tons of free alternatives?

You probably wouldn’t. But others would. It’s like cars — there are many different flavors for each task.

Follow SIBERTY NETWORK across all social media network:
* WORDPRESS https://sibertynetwork.wordpress.com/
* UPTRENND https://www.uptrennd.com/user/sibertynetwork
* TWITTER https://www.twitter.com/SibertyNetwork
* FACEBOOK https://m.facebook.com/Sibertys/
* MINDS http://minds.com/Sibertynetwork/
* MEDIUM https://medium.com/@SibertyNetwork
* TELEGRAM CHANNEL https://t.me/SibertyNetwork
* TELEGRAM GROUP https://t.me/Siberty