New version of IOST Testnet v0.5 called 'Everest' launched. Everest brings the IOST blockchain functionally online. There’s still much to be done and developers encourage you to play with all of Everest’s features and help contribute to the development of the IOST blockchain.
IOST’s mission is to become the underlying architecture for the future of online service providers globally. We are laying the foundation for a high TPS blockchain infrastructure, one that meets the security and scalability needs of a decentralized economy.
Features of Everest v0.5:
- IOST consensus mechanism: Proof of Believability (PoB) up and running
- A Faucet that provides testnet tokens to users
- A Wallet to store and send tokens
- Ability to run IOST testnet nodes
- A Blockchain Explorer to display transactions and blocks
- Build private IOST test networks
- Smart contracts system featuring key-value pair storage, inter-contract API calls and multiple signatures
- API oriented smart contracts to quickly write and deploy code
- A smart contract ‘Playground’ to test smart contracts locally
- A ‘Lucky Bet’ game running on testnet
- Real-time monitoring metrics and sending of alerts
- Deployed on real network environment, running on multiple nodes deployed worldwide in Tokyo, London, Singapore, Mumbai, Frankfurt, Seoul and Montreal
Developers deployed testnet node instances with the PoB consensus engine on up to 6 shards and achieved an average throughput between 7000-8000 transactions per second.
Proof-of-Believability is up and running in a real environment. The source code is available to view in the consensus folder of the IOST GitHub project.
The PoB consensus uses a node’s contribution and stake balance to gain block creation chances by becoming a validator. The algorithm factors in both transactions verified and token balance to determine the contribution to the network.
These are the plans of IOST team:
- 2 or more major updated releases of the IOST testnet before the launch of our mainnet
- More extensive testing and general infrastructure developments
- Additional functionality and security checks for smart contracts
- IOST Virtual Machine optimization
- PoB running under increasingly diverse environments
- Increased stability of node life-cycle
- Integration of Layer 1 and Layer 2 scaling solutions with research progress
- More documentation guidelines for developers
Try a testnet by yourself!