VNT Weekly | VNT Chain Project Progress

VNT WEEKLY, November 4

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. On November 1, Tsinghua University, National University of Singapore and Southampton University jointly held the third NExT++ Academic Conference in Nanjing. The founder of Yunphant Blockchain and co-founder of VNT Chain, Dr. Huang Butian, was invited to the conference and made a report on “Blockchain Technology and New Trends in Its Applications”, discussing blockchain technology and new trends in applications with more than 50 experts, teachers and students from Tsinghua University, the National University of Singapore, and the University of Southampton. In this report, Dr. Huang Butian first gave a detailed introduction to the current development trend of blockchain technology. He believes that with the continuous development of blockchain technology, the future blockchain will be more closely integrated with artificial intelligence, Internet of Things, cloud computing technology, etc., and will show a trend of coordinated management of on-chain and off-chain, while at the same time to meet a wide range of commercial applications. And he holds that the construction of the underlying infrastructure of blockchain will gradually move towards the integration of the public chain and consortium chain.

2. Recently, the “Blockchain Forfeiting Trading Platform” based on “Distributed Architecture, Full Link of Business Links and Fully Automatic System Connection” designed and developed by Bank of China, China Minsheng Bank and China CITIC Bank was successfully launched and completed the first cross-bank asset transaction on the same day. As of October 26, the “platform” transaction volume reached 30 million yuan. This is the extended practical application of blockchain technology in the banking industry after the first cross-bank blockchain project “letter of credit” which was launched in June 2017. The “platform” adopts the form of consortium chain, and its blockchain infrastructure is supported by the technical service provider of VNT Chain –Yunphant Blockchain. Three banks jointly developed the platform based on the current industry-wide business processes, embodying the principles of equality, mutual trust and openness.

3. On October 29, VNT Chain co-founder Zhou Feng was invited to the Intersekt Annual Financial Technology Summit by the Australian government. He conducted an in-depth communication with Australian government officials on the topic of the combination of blockchain technology and financial technology. The Australian government expressed the hope that VNT Chain could further expand its industrial ecology to Australia and Australia will help VNT continue to expand its ecosystem all around the world.

Community News

1.On October 30th, the event of “10th Anniversary of Bitcoin, Salute Satoshi Nakamoto” was officially opened. The top 100 successful decoding participants will receive 1031 VNT rewards.

Development Progress

Consensus Module

1. Witness management function completed, debugging – 100% Completed

2. BFT message pool and message encapsulation – 75% Completed

3. BFT message processing logic implementation – 75% Completed

4. BFT messaging interface and message interaction development – 75% Completed

5. Non-witness investigation and design of verification scheme for BFT process – 90% Completed

Smart Contract Module

1. Implement the Turing Completion of the Contract Language Compiler, load / store mechanism repaired – 100% Completed

2. Contract language compiler code refactoring – 80% Completed

3. The development of compiler test framework—65% Completed

4. The optimization of Intelligent contract formalization proof design – 40% Completed

5. Scheme design of contract secondary compilation – 100% Completed

6. Strip virtual machine core library and support contract offline debugging--75% Completed

7. Contract sample development—35% Completed

8. Gas injection in WAVM – 35% Completed

9. Fix bug in compiler virtual call.

10. Optimize the implementation mechanism of virtual machine event.

11. Update virtual machine design documentation.

P2P Module

1. Support Swarm file service protocol –80% Completed

2. Repair the bug of Whisper protocol receiver’s failure on recognizing the massage, test passed – 100% Completed

3. Multi-node communication test and defect repair—60% Completed

4. Network environment and fault-tolerant testing, repairing disconnection reconnection bugs—20% Completed

Cross Chain

1. Notary schemes pre-research – 100% Completed

2. Side chain technology pre-research – 85% Completed

3. Combination of ring signature technology and notary schemes—85% Completed

4. Design of cross-chain interaction scheme based on Hash Lock – 100% Completed

5. Design of cross-chain interaction scheme based on notary – 10% Completed

Consortium Chain

1. Consortium chain V1.1 stability test. Memory leak in the node is under debugging – 75% Completed

2. Third round of functional testing consortium chain v1.1 – 100% Completed

3. Consortium Chain V1.1 performance test – 40% Completed

4. Demand analysis of Consortium Chain V1.2 –30% Completed

5. BaaS platform V1.1 stability test – 15% Completed

6. The PRD development of BaaS Platform V1.2 – 60% Completed

7. Research of monitoring platform design—75% Completed

8. Research on the technical design of zero-knowledge proof – 90% Completed