Concordium releases its first Testnet
After 2 years of intensive scientific research and development, we are proud to announce our First Public Testnet.
The Testnet has been released on Thursday, April 2, 2020, at 01:00 PM GMT.
Please read our Release notes here.
Going live
Our approach and our architecture are two of the most of the significant steps toward building an applicable and scalable regulatory-compliant financial ecosystem designed for enterprise.
The Blockchain industry is overcrowded with hypotheses, beliefs, and sometimes utopic approaches but under-saturated with practical projects and with Enterprise-centric projects in particular.
Concordium has always been determined to enable enterprises to create and deploy private and compliant-ready solutions. So today, we are excited to announce the launch of Concordium’s Public Testnet.
We know that the deployment of this kind of novel approach is a grinding and iterative process.
We are not forking an existing Blockchain protocol, instead, we are designing a brand new protocol with the help of some of the most talented academic researchers and developers.
As we move along our roadmap, we know we might face some unforeseen challenges together. Concordium’s development and deployment is about transparency and openness. We always will communicate when it comes to addressing problems and issues.
Unboxing Concordium Testnet
Concordium First Public Testnet will include the following features:
- Concordium Client Node as a Dockerized container
- Concordium Client Command-line Interface
- Testnet Web Wallet
- Network Dashboard
The first Testnet release contains a baseline implementation of the core chain, including:
- P2P Layer
- Consensus and Finalization
- Identity
Users can explore:
- Creating Identities & Accounts
- Sending and receiving GTU
- Querying data from the chain via the Concordium Client CLI
- Exploring the chain via the network dashboard
Current Platform Support
- Windows 10
- Linux
- macOS X 10.12 or newer
The Testnet Web Wallet is best suited for those who want to experience Concordium in a user-friendly and convenient way.
The Concordium Node and the Concordium Client CLI are better suited for developers looking to either run local setups or investigate Concordium API interfaces.
Documentation can be found on the Concordium Website.
Parameters
- Epoch is set to 1 hour,
- Slot time is set to 1second
- Yearly inflation is set to 2%
- Difficulty parameter is set to give a Block time of approximately 25 second
- Tokens are minted every slot (determined by inflation) and 50% of the unused minted tokens are given as Block Reward (Block Reward percentage is chosen arbitrarily for the Testnet purpose only)
Testnet Tokens Distribution
For the purpose of this Testnet, we are issuing 101,000,000 Testnet GTU which are going to be distributed as follows:
- 70,000,000 Testnet GTU are going to 20 Bakers Accounts, meaning 3,500,000 Testnet GTU per Account
- 20,000,000 Testnet GTU are meant for Delegation and will be distributed between 4 Delegation Accounts, meaning 5,000,000 Testnet GTU each
- 10,000,000 Testnet GTU are going to our Testnet GTU Drop Account
- Last million of Testnet GTU goes to a special Controler Account
Please remind that Testnet GTU have no economic value and are provided for the purpose of testing only.
How to get started?
Running a node
If you are comfortable and want to dive straight in, please follow these instructions:
- Ensure Docker is installed and running
- Download the Concordium Testnet Client according to your Operation System: Linux | OS X | Windows
- Run the client-tool and follow the prompts
If you get stuck or want more platform-specific details, please follow these dedicated guides:
Using Concordium Wallets
If you prefer a GUI Web Wallet, please read more about it here and follow these instructions:
- Accept Concordium Testnet T&C
- Create an Identity using Concordium Mock Identity Issuer
- Create an Account by deploying your identity credentials
- Click on Get 100 Testnet GTU
- Proceed to a Transaction
If you are comfortable and want to use Concordium CLI Wallet, please read carefully the CLI Client here.
Note: you will need to export a web-wallet issued identity object to use the CLI. See also the caveat on nonces.
Support
For any issues or support requests please email testnet@concordium.com.
Remember, this is just Concordium’s first release of many as we add functionality — you can expect regular updates.
Testnet Mechanism and Key Dates
Concordium Testnet will see several iterations until the launch of the Mainnet.
For this purpose, we have created a mechanism that will allow testers to proceed and to submit their reports or comments.
Each Testnet iteration period will last for 6 weeks. Testers will be able to submit their findings during the last 2 weeks of each iteration. For any critical exploits, we ask that you please email testnet@concordium.com.
Important dates
Concordium Public Testnet: Thursday, April 2, 2020, at 01:00 GMT
Testnet Mission 1: TPS Check, Robustness, Security
Objective: To identify any security issues, to stress-test Concordium Blockchain Robustness and to check Concordium TPS.
Registration: April 2ndst, 2020 at 03:00 GMT — May 12th, 2020 at 11:59 PM GMT
Submissions: April 28th, 2020 — May 12th, 2020
Please stay tuned to get the new iteration objectives or register for our Newsletter here.
To Conclude
The first public Testnet release is a very important milestone and we would like to thank everyone for making it a success. Concordium needs your input and your help in order to launch our Mainnet and offer enterprise a bridge to sustainable blockchain technology.
Thus, we don’t only invite you to take an active part in the Concordium Testnet but to follow and support our activities.
Thanks for your patience and thanks for following and supporting us on our communication channels.
We are looking forward to seeing you on the Concordium Testnet!
Join #TeamConcordium in our different channels:
Twitter: https://twitter.com/ConcordiumNet
Telegram: https://t.me/concordium_official
Reddit: https://www.reddit.com/r/Concordium_Official
Developers Hub: https://developers.concordium.com/tech
Gitter: https://gitter.im/concordium_official/community
Discord: https://discord.gg/xWmQ5tp
Learn more: https://concordium.com
