We are glad to share with you the latest development report about our work and progress over the past year. This period was filled with new challenges and new achievements, and also showcased us more technical fields for our vision of inter-connected blockchain networks.
Alphanet Development
This year we are focusing on developing infrastructure needed to launch the alphanet in the future. We continued to implement additional technology enhancements needed to successfully launch the alpha protocol. This period of development allows us to reliably connect wider variety of blockchains in the future in addition to improving the overall speed and most importantly security of the protocol. We discovered new types of attacks that could be possible on the cross-chain protocol and are actively developing ways to mitigate such attacks.
New Websites
We just released a brand new EXRN and EXRT websites that showcase more information and better introduce newcomers to our project.
You are welcome to visit our new websites at exrn.org and exrt.org
DeFi Use Case
We are excited to introduce you to an explainer of EXRNchain use case within DeFi Ecosystem. EXRNchain crosschain protocol with EXRT Network backend will become a scalable foundation for decentralized finance applications.
As visualized on the image, EXRN/EXRT crosschain ‘oracle’ can provide interconnected gateway to different blockchains and platforms.
Our example shows 2 situations:
a. User has DOT on the Polkadot blockchain and wants to supply it to Compound as a collateral. He will perform a crosschain swap of DOT to a wrapped-asset xDOT on the Ethereum blockchain via EXRN/EXRT oracle.
If Compound was integrated with EXRNchain, user could technically perform the swap and supply in one transaction.
b. User has BTC on Bitcoin blockchain, and wants to supply liquidity to BTC/ETH pool on Uniswap. He can do a crosschain transaction to wrap his BTC into xBTC, sell half for ETH and supply his assets for Uniswap liquidity, all in one cross-chain transaction.
Sense Testnet Finished
Our very-scalable EXRT Sense testnet was running for over 1 year and was tested by hundreds of users very actively. This year we finished public testing of it and closed testnet for now. We were able to achieve over 250 TPS through our testing with small number of low-spec validators.
This is 17x of current Ethereum TPS capability.
We have also updated core testnet protocol from v1.9 to v 1.9.2 and improved stability and speed of Sense network by 8% before testnet finish. This testnet was a major success on our roadmap. The Sense network was simple to use and at the same time provided a full demonstration of the EXRT Network speed and provided a glimpse into what is possible for the future. We are very thankful to our community members who actively participated and shared their experience about EXRT Sense testnet.
3 Year Anniversary
October 7th was the third EXRNchain Anniversary.
You can read full message to the community from Yon Jung here:
https://twitter.com/IamYonJung/status/1313825549618421760
On behalf of whole development team, volunteers and community managers, we are thanking and congratulating all of our supporters!
Team ‘Questions & Answers’ Session
During March 2020 we had a third ‘questions & answers’ session in our official Telegram group, where many important questions from our community were asked. Here is a summary of that Q&A:
https://medium.com/@EXRNToken/exrnchain-team-q-a-3-summary-35bff442ec04
Some important highlights:
Q: Blockchain interoperability is currently categorized into two groups: “open protocols” and “multi-chain frameworks”. Where does EXRNchain fall in these two groups?
Open protocols: Standardized protocols that allow blockchains to communicate with each other without intermediaries or trust processes needed. The most recognized open protocol is the “Atomic Swap”.
Multi-chain frameworks: Blockchains can plug into a framework to become a part of the standardized ecosystem and transfer data and value between each other. Multi-chain frameworks are more complicated than open protocols. They are often referred to as the “internet of blockchains.”
A: If we’re comparing these two categories then EXRNchain falls more into the “Multi-chain framework” one, however overall EXRNchain is still a unique concept different from other projects in development. EXRN is a complicated protocol as well and will allow other chains to plug into its crosschain ecosystem, however we are working on a network where third party volunteer developers should also be able to write code to implement specific unique blockchain into EXRNchain network without any fork/changes on that blockchain end.Q: Is EXRNchain registered as a company that is a legal entity? If so what is the company address? Is the crypto held by EXRNchain property of developers or property of the EXRNchain company?
A: EXRNchain is open-source community based, volunteer funded project. We are standing strictly on the side that no cryptocurrency project/asset needs a legal entity backing. There is no EXRNchain company and there will never be one. Crypto held is the property of the team and part of it will be used as a payment to the team that is currently working on this project full-time self-funded without pay.Q: What is the confirmed consensus algorithm in place for the EXRT network PoW vs. PoA vs PoS vs dPoS. etc. Each of these has significant pros and cons to each and which ever is chosen will have a direct impact on holders.
A: We are leaning towards a variation of POA consensus with specific rules for voting on validators (that are more like from DPoS network). However even non-validators will have their way of staking EXRT.
EXRN & EXRT Tokens Explained
This part is a reminder to current holders as well as an introduction to newcomers. EXRNchain project has two main tokens: EXRN and EXRT.
Below are two banners that will help you differentiate these tokens.
Moving further…
We are on our way of progressing ahead to the alphanet stage where we are going to launch private test environments to start building alpha protocol of EXRNchain which should allow the first ‘real-conditions’ crosschain transactions to happen. We are planning more exciting announcements soon. Thank you for support!
