Product Protocol Testnet 1.0 Release Announcement

Product Protocol Blockchain Testnet Functionality

The Product Protocol test network 1.0 has been released on the June 16th.

After six months of designing, developing and testing, the release of the Product Protocol Testnet 1.0 was announced on the June 16th. The Product Protocol’s promises of high throughput, decentralization, security and scalability have been implemented in this version.

Testnet Feature Summary

• Test Network node number: 10 (added as more successful tests are done)
• Distribution by the countries, where the nodes are located: Western and Eastern United States, Asia, Europe.
• Number of transactions processes within the network: 30,000 per second
• Access: https://testnet.pprotocol.io/

Functionality

The Testnet has all the basic functionality necessary for ensuring the serviceability of the blockchain network, user data storage and synchronization, as well as running the API for user apps and web-wallets. Within the test network were used issuer wallets initiation, random transaction for new wallet users were generated as well as random transactions between wallets. To make the test more authentic the nodes were placed on the servers with varying geographic locations.

Stress-Testing

During the Testnet stress-test transactions (sent to the various wallet accounts) are initiated on every node. Every transaction in the test matches a real transaction. First stress iterations generate more than 1000 transactions per second on every node. Further iterations are developed and modelled according to the authenticity principle, which allows us to determine bottlenecks and possible security threats before the launch of the main network.

After the release of the Testnet the developers will launch stress-tests, while users will be able to monitor the speed of Product Protocol in real time on the website.

Wallet

After successful stress-tests and security audits, users will be provided with a version of the web-wallet. By using it, you can check your balance, conduct transactions and review the list completed transactions. Expanded functionality will be provided in the next releases.

Smart Contract

The smart contracts will be developed via the Lua script language, in the future we plan to develop an app that will simplify the creation of smart contracts and their intuitive use by regular users.

Blockchain Explorer

Due to blockchain being a platform open for all participants, any of them can verify the integrity of transaction conducting and saving. To make this process easier, we are building a blockchain status monitoring environment, where users can search for relevant data. To alleviate the load on the blockchain network this data is requested and the responses received are saved in the aggregator cache, which allows the use of the indexing mechanisms for faster searches without the loss of performance, heavily dependent on the size of the blockchain base.

Through the use of search requests the user can find information about the integrity of the blockchain, stored blocks and transactions they hold, transaction participants and their signatures.

Network

Test Network supports dynamic addition and removal of new member nodes and adapts according to their availability.

Next steps in the development

• 15.08 starts the test network PPO token distribution.
• At the end of July we will open the access to the JCON RPC port and the documentation, which will allow developers to start working with the test network.