VNT Weekly | VNT Chain Project Progress

VNT WEEKLY, December 24

This is the weekly report of VNT Chain in which you will find about the latest project updates, community news and development progress. It would be a great honor for us to share exciting news and build the ecology with you!

Project Updates

1. Getting through the cold winter: VNTChain·2018 Annual Review
— — The first live stream with the two co-founders

Winter is not always terrible. Looking back at 2018, we experienced some twists and turns but achieved a lot of gains. Such a winter that many people are afraid of is precisely the opportunity for us to correct the past and achieve transcendence. Together, we are getting through the cold winter and greeting the warm spring.

On December 17, the two co-founders of VNT Chain, Huang Butian and Zhou Feng, first attended a live stream together to review the VNTChain project. They talked through the project deeply and provided thorough details about the questions raised by community members. At the end of the live stream they discussed about the short-term and mid-term development work schedule of VNT Chain.

We have made a detailed summary for the online event. If you are interested please take a look at the below articles (in Mandarin).

Getting Through The Cold Winter — VNTChain·2018 Annual Review [Review]

Getting Through The Cold Winter— VNTChain·2018 Annual Review [Outlook]

2. Yunphant Blockchain was selected as one of the initial members of the IEEE Blockchain Hangzhou Working Group

On December 21, the IEEE (Institute of Electrical and Electronics Engineers) Blockchain Hangzhou Working Group was formally established in Alibaba Z Space, and the membership incorporation ceremony was held. The VNT Chain technology partner — Yunxiang Blockchain was selected as one of the initial members of the working group.

The IEEE Blockchain Hangzhou Working Group is chaired by Ant Financial. The Institute of Computer System Structure and Network of Zhejiang University, Zhejiang Province Blockchain Technology Application Association, and Alibaba Cloud are the vice chairman of the working group. Yunphant Blockchain, Zhongchao Hangzhou Blockchain Technology Research Institute, 8btc and other well-known enterprises and research institutions are the initial member corporations to jointly promote the layout and development of the blockchain industry.

Dr. Huang Butian, the founder of Yunphant Blockchain and the co-founder of VNT Chain, did an introduction in the ceremony. Since the establishment in 2014, Yunphant Blockchain has achieved accomplishments in many aspects such as team building, core technology research and development, application cases and business models. At present, Yunphant has more than 50 invention patents, ranking 9th in the global blockchain in 2017, and is the technical service provider of the first inter-institutional consortium chain of China Commercial Bank, the participant of the financial industry blockchain standard, the project undertaker of the first blockchain project of Zhejiang key research and development, and it conducts the major special projects of the Modern Service Industry of the Ministry of Science and Technology.

Community Updates

1. Getting through the cold winter: VNTChain·2018 Annual Review Live event Lucky Draw

The following awards in the live event have been redeemed successfully. We will distribute all the awards this week.

1. First prize: ￥1000 RMB shopping card x1

2. Second prize: ￥500 RMB shopping card x5

3. Third prize: ￥100 RMB shopping card x15

2. VNT Chain Zhou Feng: VNT is the first adopter proposed ‘Consortium Chain + Cross-Chain + Public Chain’ Aggregation Chain infrastructure

On December 19, VNT Chain co-founder Zhou Feng was invited to the 29th issue of the Deep Chain Academy and shared the theme “What is the tipping point of the blockchain in the next few years?”.

Zhou Feng said that VNT is the earliest adopter proposed ‘Consortium Chain + Cross-Chain + Public Chain’ Aggregation Chain infrastructure. From a business scenario environment, the multi-chain architecture is indeed more secure, private, and efficient.

In the direction of the future trend of technology, Zhou Feng mainly focused on four aspects:
1. Consensus algorithm, from low frequency inefficient to high frequency efficient.
2. Sharding, from global awareness to local awareness.
3. Data Processing, from on-chain processing to off-chain collaboration.
4. Infrastructure, from single chain to multiple chain combination.

Development Progress

Consensus Module

1. The development of BFT module was completed, debugging — 100% completed
2. Non-witness development of verification scheme for BFT process — 100% completed
3. Refactor the Witness Management Contract Code, Matching Virtual Machine Interface — 100% completed
4. The design of Witness Incentive Program — 90% completed
5. BFT functional unit testing — 70% completed
6. Design of block generation policy — 45% completed
7. Consensus module, increase voting, mortgage and other information query RPC API

Smart Contract Module

1. Optimize local variable assign mechanism — 100% completed
2. Optimization of smart contract formalization proof design — 95% completed
3. Optimization of the compilation process of WASM code — 65% completed
4. WASM support of unit256–60% completed
5. Optimization of WAVM code architecture, decoupling wagon — 10% completed
6. Data encoding and decoding algorithm implementation and performance testing after smart contract compilation — 60% completed
7. Coverage functional test and Gas consumption test for WAVM — 75% completed
8. Q Language ERC20 smart contract deployment call function joint debugging — 70% completed
9. Q Language formal proof of the smart contract, Demo — 30%

P2P Module

1. VNT documents — 30% completed
2. Gvnt development — 25% completed
3. VNT browser prototyping — 30% completed
4. VNT browser UI design — 10% completed

Cross Chain

1. Cross-chain management module development — 40% completed
2. Public Chain management module development — 30% completed
3. Consortium Chain management module development — 35% completed

Consortium Chain

1. The Consortium Chain V1.2 design — 100% completed
2. The Consortium Chain V1.2 Raft Consensus development — 45%
3. BaaS Platform V1.1 stability test — 95% completed
4. BaaS Platform V1.2 design — 75% completed
5. The monitoring platform prototype and UI — 100% completed
6. The monitoring platform backend development — 65% completed
7. The monitoring platform frontend development — 45% completed