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Starting with its headquarters in Singapore, the Mammoth Foundation has established Korean and Japanese branches, and has expanded its scope of activities to major world countries such as Thailand, Vietnam, Indonesia, the United States, and Canada. We are also expanding our ecosystem by continuously securing global partners and users.
GMMT is the native coin of the mainnet ‘Giant Mammoth Chain’ and is used to build an ecosystem in which user participation and reasonable compensation are virtuous cycles.
The Coin Republic: Could you provide a quick introduction about you and Giant Mammoth team?
Hello, I’m John Baek, chairman of the Mammoth Foundation.
I have led the company as a developer representative in the IT industry for more than 10 years. In 2022, we established the Mammoth Foundation based on blockchain technology to carry out the mainnet project. The Mammoth Foundation is a blockchain and IT R&D company that has abundant experience in developing various technologies such as augmented reality, artificial intelligence, and blockchain, which are the core technologies of the 4th industrial revolution, as well as platform planning, development, and operation.
We have several patents related to AI and cryptocurrency, and it has an advantage in overseas expansion because it is a project conducted by 36 countries around the world.
The Coin Republic: Can you give us a brief overview of Giant Mammoth?
Giant Mammoth Chain is the main net that overcomes the core problems of the blockchain: scalability and security. Fast transaction speed and low network gas costs are of course the specification, and are designed to be EVM compatible, secure and development friendly. So, the Giant Mammoth Chain is highly scalable and interoperable.
The Internet has evolved into its current form, with increased scalability and the introduction of new applications facilitating each other. Just as the Internet has created new uses with increased scalability, improved scalability of the blockchain enables more user-friendly services in each field, including Defi, NFT, and DApp.
The Coin Republic: What is the strongest advantage of Giant Mammoth to lead the cryptocurrency market in the long run?
Mammoth is a project of 36 countries, including the United Kingdom, Australia, Canada, the United States, Korea, Japan, Singapore, Hong Kong, and Uzbekistan, and has many advantages in securing initial partners, including building numerous global network infrastructures in each country. It is possible to enter the global market, which is difficult to overcome in traditional finance.
Mammoth is already recognized for its blockchain technology. This makes it easier for each company to do blockchain business and aims to build an indispensable global business ecosystem as a hub that connects the virtual economy and the real economy across borders with a solution that can be expanded globally. We support a development environment that can provide Native Dapp to businesses that are preparing for start-ups or are currently operating.
The Coin Republic: What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market?
Our vision is to build an ecosystem that allocates revenue as much as it has contributed to all participants, rather than being monopolized by intermediaries.
Mammoth is also a third generation mainnet and wants to become a global mainnet that can be applied to all industries such as DAO and Accelerating.
So, we are implementing a strategy to further expand the ecosystem by applying blockchain technology to non-blockchain industries. For example, it is not limited to any industry, such as broadcasting stations, telecommunications companies, and food companies. Speaking of recent activities, we signed an MOU with Thailand’s MOCT national broadcaster. By securing businesses rather than individual users, we will lead users into the blockchain industry to gain more users. We plan to discover and nurture non-blockchain industries in the future.
The Coin Republic: How does the Giant Mammoth address issues of scalability and transaction speed, which are common challenges faced by many blockchains?
Other mainnet projects were premised on increasing processing power within a single blockchain to address scalability challenges, but Mammoth approached to overcome trilemma by sharing each function of the blockchain across multiple chains. The modular blockchain adopted by the Mammoth chain shares some or all the functions of execution, agreement, setup, and data availability across different chains, increasing processing speed and efficiency.
In addition, Giant Mammoth Chain introduced ZK-Rollup to improve the scalability problem of the network and the bottleneck of TPS being limited after EVM activation. Rollup is a layer 2 scalability solution. The reason why rollup increases scalability is that it reduces the number of transactions and data size that need to be processed on the main network by first batching large amounts of transactions. In addition, while other mainnets have speed and block capacity limitations to maintain decentralization and security, Rollup Chain, which is only responsible for code execution, is relatively free from such limitations. The level of scalability can usually be expressed in terms of transaction speed or cost. Zk-GMMT creates an environment capable of processing up to 10,000 transactions per second.
The Coin Republic: Finally,tell mewhat is business model of Giant Mammoth? And describe your roadmap and plan for 2023?
Mammoth’s business model is to build and expand ecosystems on the Mammoth chain. Since the launch of Giant Mammoth, it has been developing many Dapps such as P2E platform ‘Walkdoni’, NFT Marketplace ‘EDEM’, and blockchain-based E-commerce ‘Cokili’. And plans to focus on developing NFT and P2E games in 2023. It is also continuing to list on the global exchange for global expansion and listed on the 5 exchanges in April alone. We will work harder to market globally and list on large exchanges so that it can lead the blockchain market trend.