KuCoin AMA With Apollo Currency — The World’s Fastest and Most Feature-Rich Coin

2021/07/04 08:43:11

Dear KuCoin Users,

Time: July 2, 2021, 10:00-11:10 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with Stephen McCullah, CEO of Apollo Fintech, in the KuCoin Exchange Group.

Project Introduction

Apollo Currency has accomplished its goal to become the world’s fastest cryptocurrency with a sustainable blockchain as well as one of the most feature-rich. Apollo was built with the rigorous demands of genuine mass adoption in mind, and it has proven its capabilities through its proprietary mass adoption technologies. Apollo Fintech’s vision is to provide every mainstream feature on one sustainable platform.

Official Website: https://aplfintech.com/apollo-currency

White Paper: https://aplfintech.com/wp-content/uploads/2020/10/apollo_whitepaper_3.0.pdf

Follow Apollo Currency on Twitter and Telegram.

Guest:

Stephen “Steve” McCullah — CEO of Apollo Fintech

Stephen McCullah is the CEO of Apollo Fintech and has been for three years. He studied Business and Marketing at Drury University and MSU. Steve has been in business for about 10 years, having owned a technology company before Apollo Fintech called McCullah Technologies as well as a PR company, a military manufacturing company, and a number of other businesses in those sectors.

Q&A from KuCoin

Q: Could you give us a better understanding of Apollo Currency and what makes it stand out from other projects?

Steve: Apollo is unique because of a number of things.

It’s one of the fastest cryptocurrencies on the market, at sub-seconds to 2 seconds per transaction.

It has more mass adoption use cases than any other coin, including powering the most expansive social media ecosystem, a global bank-to-bank system that puts Ripplenet and Swift to shame, and Apollo’s Blockchain will soon power the economies of a number of countries with its Knox National Payment Platform and Knox eGovernment System.

And it has more features than any other coin, with utilities like an internal DEX, a blockchain marketplace, a file-sharing system, messenger, alias system, transaction mixer, IP masking, token system, asset system, and many more one-of-a-kind features to come.

Q: How have you managed to develop the world’s fastest cryptocurrency at sub-seconds to 2 seconds per transaction?

Steve: We have utilized our development team, spending over 30 man-years to create what I believe is one of the most advanced blockchains available. During this time, we developed a number of technologies that were previously only theoretical. These include node time synchronization, the Apollo updater, and we were the first blockchain to launch genuine database sharding.

Q: What made you decide to incorporate database sharding in the Apollo Blockchain?

Steve: We knew that the only way we would be able to truly accomplish mass adoption was to solve the biggest issue facing all blockchains, unsustainability due to blockchain bloat.

Blockchain bloat causes the database to grow with every transaction since every transaction must be validated against all other transactions and balances. This means that with every transaction, the blockchain gets slower.

To solve this issue, we built a system that compartmentalized every 750,000 transactions into its own “shard”. This allows validation to happen at the same speed indefinitely because the user does not need to validate every transaction of the entire database when sending Apollo, only the transactions in the applicable shard. In fact, because of this technology and a few others, the more active users on Apollo‘s blockchain, the faster transactions are accomplished.

Q: What is Apollo’s development roadmap like this year?

Steve: This year is by far the most exciting in Apollo’s history. We are adding two big technologies to Apollo’s blockchain.

1. We are adding the first unlimited, redundant, and truly decentralized file storage system.

This will allow anyone to stake their hard drive space and earn extra income while at the same time allowing users to store files for a fraction of the cost with absolute security.

2. We are adding advanced smart contracts.

The combinations of these technologies will be used to create Arknet. Arknet is a truly decentralized internet 2.0. Current solutions only allow some computing or one element of a website to be decentralized, while all graphics and files are still stored on centralized servers. Arknet allows all actions to be decentralized, providing true security and longevity.

Q: What are the Apollo use cases currently up and running, and what do you have planned?

Steve: Currently, we have finished almost all of our biggest projects. Some of those are:

Knox National Payment Platform - our Central Bank Digital Currency system, which has the ability to power a nation’s entire economy.

Knox eGovernment system - which can power every department of government outside of defense.

Stratus - which is currently the World’s most expansive social media ecosystem.

Knox World Pay - our international payment system and the first system that allows anyone to send BTC in 2 seconds with an offline SMS message. It truly banks the unbanked and allows mass adoption by removing the two biggest barriers, worldwide accessibility and usability. It replaces the need for regional SMS payment systems like EcoCash, remittance services like MoneyGram and Western Union, as well as peer-to-peer payment companies like PayPal.

Knox World Wire - our international bank-to-bank system that competes with Swift, Ripplenet, and other international wire transfer systems.

As well as a number of others!

Q: What is the long-term plan for Apollo Currency, and why should KuCoin users invest in it?

Steve: Our plans for the next two years would take me a week to write out, but I will share the top reason!

Apollo is working with a number of countries to build national government systems; even the integration into one of these nations will make Apollo the most used cryptocurrency on Earth. That is because one nation utilizing Apollo Blockchain for something like the National Payment Platform will mean millions of transactions every day, and in some cases even every hour. This will give Apollo significantly more active users than Bitcoin and Ethereum combined, and with every transaction, Apollo holders will earn a portion of those fees.

This is just one of the short-term projects which I believe will make Apollo a top 3 cryptocurrency in the next 6 months.

Free-Ask from KuCoin Community

Q: So many scam projects around us. And almost 85% of projects with anonymous teams do rug pull. At this point, why did you decide to remain anonymous? How can we trust $APL? How strong is the project?

Steve: This is the thing that truly separates us from the rest; unlike 99% of crypto projects, we not only have all our top team members' identities public, but we also have our office location public, and anyone can come to visit! We also have a visitor center going up now as well.

We also have some of our projects in a trust and have either launched all our platforms, they are in betas which our community are in, or we have shown full demos of them as with our gov products. So we really could not get any more transparent!

Q: Do you agree with everyone that community is everything? How important is the community to you? How can we cooperate and help you to develop a project?

Steve: Community is incredibly important to me; you can ask our community to validate that. I am probably the only blockchain CEO who is in Telegram almost every day answering questions.

While 90% of projects that started at the same time as us in 2017 have failed, we stuck by our community for three years of a horrible bear market and doubled down, spending millions developing when other projects ran off with the money.

Q: What is your plan for global expansion? Which market does Apollo Currency focus on currently?

Steve: Currently, we have the only blockchain-powered government system that can power almost every department of a nation’s government.

We are also the only blockchain company with a CBDC system that is already developed and can power their nation’s economy. We are the only option that can be used in most countries because we are the only option that has a system for sending offline SMS transfers on blockchain.

Because of this, we currently have more demand from governments for our products than we have time to fill.

I believe this will be what makes Apollo explode not only globally in the tech sense, but also as the most used blockchain on Earth in terms of daily active users.

Q: If the bear market comes, will your token probably dump? Do you have any plans to prepare for this bear market? How will you handle the panic sell?

Steve: I believe we are the only cryptocurrency company that is actually not even looking at the crypto market.

We knew early on that we wanted to be post-crypto. What I mean by that is I believe that we can leave even Bitcoin behind because of the fact that we are creating true mass adoption and enormous use cases.

The reason why I do not believe we will have to worry about market trends soon is because once even one nation is using Apollo’s blockchain, we will have more daily active users than many of the top coins combined, which will not depend on the crypto market. So we will have massive amounts of real currency fees going to Apollo holders and that will only grow in size.

Q: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?

Steve: We will not be doing any future fundraising, and we currently have funding to continue for about 8 years without any profit. However, 95% of our products were designed in a way we make profit from them while giving Apollo massive use cases.

So for that reason, I do not foresee any future fundraising, and I do not believe funding will ever be an issue, even if we had a 10-year bear market.

Q: You’ve said that APL won’t be used like Ethereum gas to process national currency transactions. Presumably, there will be a transaction fee. Where will those fees go (to forgers holding APL, forgers holding national currency, somewhere else)?

Steve: It won’t be used on our National Payment Platform as a transaction fee, only because logistically, we couldn’t ask every single person to figure out a way to buy it in a country.

However, this is massive for Apollo holders because by holding APL, you will soon get transaction fees coming in from millions of transactions. The more you hold, the more you will get in fees!

I believe this will be the biggest fuel to Apollo becoming the largest cryptocurrency.

Q: Who is the competitor of Apollo Currency? What are the strengths does Apollo Currency have to compete with them?

Steve: I would say our biggest competitor is XRP, but they are not much of a competitor.

They really only have one business product, and that is a bank-to-bank system called Ripplenet. Not only do we also have a bank-to-bank system, but ours has significant advantages over Ripplenet; it’s much faster, our intermediary system uses a gold-backed instrument, and we are the only international banking system that will allow the bank to settle with cash the same day.

So not only do we beat XRP’s Ripplenet on every point, but we also have half a dozen other mass adoption use cases that could be considered larger than bank to bank.

Q: Can you tell us what makes your project different from other projects?

Steve: I would say everything.

We are faster than almost all, we are sustainable when 99% of blockchains aren’t, we have more features than any other coin, and we have more mass adoption potential than all of the rest combined.

I don’t want to sound arrogant, but we have spent millions of dollars and 3 years making sure that we become the only obvious option for mass adoption. And I’m quite proud of our team for accomplishing these things.

We have been thankful to have some of the most trusted experts in crypto contributing to the project, which is why we have made it this far, like Jorge Sebastiao (an ex-CTO from Huawei and one of the most trusted cybersecurity experts in blockchain).

Steve: Unfortunately, due to time constraints I cannot answer each question. Thank you to all of the supportive participants!