Road To Main Network
1. Introduction
In this article, I will attempt to throw some light on the various functionalities we plan to build into elld — Our official client for the Ellcrys network. I will also break down these capabilities into different alpha releases in which they will begin to appear.
2. What is Ellcrys?
Ellcrys is a general purpose blockchain protocol being developed to allow people to start, join, manage and co-own software products and organisations. Essentially, we are providing a tool that will enable thousands of people to truly own part of decentralised entities and have the ability to participate in the management of these entities.
You will be able to build open organisations; Communities and businesses that are transparent, effort-driven and equitable. People with specific skills can offer them to any project of their choice and receive rewards for their service. Decentralised business will be able to build and run smart contract applications using established languages.
Our integration of the git version control system means that developers, businesses, open source communities will be able to host/move their software repositories on the Ellcrys network, where they are guaranteed uncensored collaboration, complete control and high-availability.
2.1 Core Features
Ellcrys core functionalities comprise of features and behaviors that must be supported by the official client.
2.1.1 Cryptocurrency
Introduced by Bitcoin, Cryptocurrency is the first application of the blockchain technology. Cryptocurrencies give people the ability to move, control and program value (e.g. money, gold, shares, tokens etc.) within an alternative financial system that is out of the control of any centralised authority. It is proving to be disruptive and has spawned an entire industry that has given people freedom and complete control of their money.
2.1.2 Decentralized Git Hosting
For collaborators to truly co-own and govern software products and services based on co-owned software, collaborators need a tool that allows them to gather, share and coordinate work seamlessly and at their convenience. A tool that does not change the way they currently collaborate on existing platforms like Github. This is core to Ellcrys’ entire value proposition and must be provided in such a way that it is cheap and user-friendly.
2.1.3 PeopleMint — Mining Protocol
In this paper, we discussed PeopleMint, a mining method that allows users to exchange banknotes for the network’s native coin. It was initially designed to enable a much fairer distribution of coins where having specialised hardware for PoW is not a requirement. We have since improved the concept, extending its usefulness to not only provide a fair distribution mechanism but to provide a chain observer role in our Hybrid consensus. In this scheme, the scanners tag the currency notes they scan with the hash of a recent block and have them verified by validators. This process can be used to increase the score of a block/branch when determining what branch is the superior one.
2.1.4 Multi-Language Smart Contract
Smart contracts are self-executing functions or operations that run on the blockchain when a set of conditions are in place. Transactions initiated by users trigger them. We are working on a multi-language smart contract environment capable of allowing custom behaviours to be programmed using established languages like Go, Javascript, Python etc. Collaborators will be able to build smart contract applications, define custom governance and management rules specific to their operations.
3. Future Releases
List of releases to expect and the features to be supported.
3.1 “Inception” (v0.1 Alpha)
Feature/Improvement: Cryptocurrency
Inception is the first release. It will offer cryptocurrency functionalities and mining capabilities expected of a Proof-of-Work blockchain. Users will be able to mine new blocks and send/receive the native coin. Though, miners will only receive rewards through transaction fees and only the coins allocated at genesis make up the total coin supply. This release serves as a base for future improvements. See the repository here.
3.2 “Wonkru ” (v0.2 Alpha)
Feature/Improvement: Hybrid PoW/PoS Consensus & Mining Protocol
In this release, we will have fully implemented a functional PoW/PoS hybrid consensus mechanism inspired by Decred and Memcoin2. We will also have a fully-featured mining mechanism. This release paves the way for the implementation of collaborative tools, self-executing functions and other features.
3.3 “BitRest” (v0.3 Alpha)
Feature/Improvement: Decentralized Git Hosting
This release brings the ability to create, host and serve decentralised git repositories along with governance controls that will allow users to create open and transparent software projects and organisations. Developers of open source projects will be able to create git repositories for their small or large projects. Decentralised systems developers who are passionate about decentralising everything will finally be able to decentralise their code repositories and distributing ownership to their community if needed. Also included, is a reputation system that will be used as a reward for work done and as a proficiency measure of a specific set of skills.
3.4 “BitKick” (v0.4 Alpha)
Feature/Improvement: Self-Executing Functions (a.k.a Smart Contracts)
At this point, this release will include the ability to load self-executing functions from a git repository. Several established languages will be supported to allow developers to create these functions without needing to learn new languages.
After the series of alpha versions have been released, we will have several Beta versions which include no additional features. After we are sure that there are no significant bugs, the MainNet will be launched.
3. Release Dates
Beginning from January 1st, 2019, we will be adopting a 2-months release cycle. Our MainNet will be operational in 2019. But several test networks will be launched before the MainNet is launched.
4. Alpha Networks
Over the cause of development, we will start several test networks running a specific alpha version for testing purpose. One of such test network will be used to bootstrap the process of distributing coins, getting miners, scanners and validators. This network will be known as a Distribution Network scheduled to go live after the release of “Wonkru”. In October, the first test network will be launched with thousands of test accounts credited with some ellies for testing.
5. Conclusion
The last few months have been about understanding the technical challenges, requirements, exploring ways to solve them and getting down to implement our findings. Of course, this is an ongoing process, and we will work to increase the frequency of our updates as we build on.
