IOST Everest v0.5 Public Testnet Launched

Everest brings the IOST blockchain functionally online
11 July 2018   216

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.

Terrance Wang


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! 

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   137

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.