Development Update February 2022

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.

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.

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.

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Baseledger

Baseledger

A public-permissioned, council-governed blockchain that fulfills the major requirements of enterprises for participating in Baseline-enabled processes.