Development Update February 2022

After the launch of the first Baseledger Testnet “Lakewood” in September, and updates on the Baseledger development documentation in December, we introduced Baseledger “Plateau” as the mainnet candidate in January.

This blog post gives some development updates on our road to mainnet, which we plan to launch within the next 4 weeks.

The Baseledger Plateau code mentioned in the following updates is available on the Baseledger Github. It is still work in progress, and the corresponding documentation will be updated at docs.baseledger.net

Validator Nodes

The first Baseledger Nodes are up and running! The council members are the first ones to set up their nodes. After that we start to include the nodes of those validators who officially applied and whose applications are currently reviewed by the Council. The goal is to start with a minimum set of 12 validators, and expand that number to a medium sized two figure number of validator nodes during the first months of operation.

In the next weeks, the council will align on the first fee structure for Baseledger users. The fees will depend on the payload size of the stored proofs. All fees to use Baseledger, as well as all staking / node operation rewards and grants will be in UBT, the universal business token.

Successful Audit of the Baseledger Smart Contract on Ethereum

The Baseledger smart contract has been successfully audited. The first audit was performed by German smart contract auditing pioneers Chainsulting. The Baseledger Smart contracts includes…

• …functionality to receive UBT and convert them into a corresponding Baseledger Worktoken balance inside Baseledger;
• …maps to hold and represent the current validation power structure;
• …functions to update the map with new validators and new share distribution of the overall validation power;
• …functions to withdraw the allocated amount of UBT per validator;
• …the writing of Ethereum Event Logs which are picked up by Baseledger, forming a Ethereum > Baseledger bridge.

The audit report has been added to the official Baseledger GitHub. More audits and reports will be published as soon as they are available.

State of Development for adjacent components

• conUBC is certified and ready
• The Baseledger Proxy has been picked up by various teams around the Baseline Protocol Community, for example the Technical University of Vienna and Fraunhofer IML. The Baseledger Proxy includes all components to set up a Baseline compliant process, like workgroup setup, off-chain messaging, multi-party-approval workflow management and Baseledger connection. Currently, Unibright and the Baseledger Governance are evaluating options to publish the proxy under an open-source model.
• The Fiat Gateway for Transaction Balance is in the test phase and should be ready late march.
• Ethereum Anchoring Service is in the test phase and should be ready late march.
• News on the availability of proxy-staking pools (for example on gysr) will be announced separately in March by the validators who offer it.

Further updates that have been agreed and approved for publication by the Baseledger Governance Council will be published here.

Baseledger is a public network designed for storing and managing baseline proofs, which are an essential part of synchronizing systems of record across the internet in accordance with the Baseline Protocol. The high-performance, high-availability network provides verified systems integration services at very low cost, without requiring companies to spend time and capital setting it up.

Baseledger complies with the Baseline Protocol to ensure that no data is moved from companies’ systems of record onto any kind of blockchain, and proofs cannot be used by an observer to learn anything about companies’ confidential information, relationships or business activities.

Initially established by Unibright, and joined by Concircle, Consensys Mesh, Finspot and others later, Baseledger is officially council governed since December 2021.