Development Progress Update May 16, 2018| Light Wallet | Official Website | Project Cooperation

The FAB Foundation provides technical updates related to the project every week.

This week, the R&D department focused on the development of FAB’s KANBAN, smart contracts, CCUA, the Annex chain and other core components. At the same time, the R&D team enhanced the main network capabilities, improved stability, and enhanced processing capacity and speed. This part of R&D is the most important and the core of the development of the blockchain. It will last for a sustained period of time as specified in the roadmap. More announcements of other technical updates are as follows.

Light Wallet

The development of the mobile/light wallet is currently in the final stage as basic development has been completed. Functional testing is currently underway. This version will be the first version of the FAB Light Wallet. Features include the basics such 12 mnemonics to help restore HD Wallet; transfer, send and receive functions; account password setting and backup; reset password; copy/paste address; balance query; delete wallet and other wallet functions.

A manual will also be created for you to learn how to use it effectively and share with your friends. Below is the wallet interface preview:

Official Website Update

At present, our website development team has completed basic pages and associated functions such as the homepage and project pages, account settings (login, kyc, account) mail, ticket system and more. The first version of the website will be released next week. The new website design also adds a lot of new features, faster page loading and overall optimization of the website. The full version of the website with additional wallet features is expected to be completed and released in mid-June. Here is an interface preview:

API

API development is now underway. After continuous optimization and testing, it will enable further applications and development.

Fabcoin

Users who have submitted their FAB wallet addresses and ERC20 tokens with the correct ETH address they received the ERC20 tokens on have been issued Fabcoins.

If you have not yet received your Fabcoin yet, please check whether the address you provided on the official website is the address from which you initially received the ERC20 token. We cannot check and issue the Fabcoins for other new addresses. If you have more than one currency address and are unsure of which one applies, you need to tell us all the addresses so that we are able to cross-reference.

Note: If you have already received your Fabcoin, please be sure to keep your private key and password safe, and to back up your wallet. If you lose it, no one can retrieve it for you.

Project Whitepaper

Based on the original technical white paper, the marketing department has produced a new “Project White Paper” to facilitate understanding easier. The content includes the project concept introduction, technical points, token issuing information, distribution plans, unlocking information, advisors and team profiles, and project development plan, project progress, and roadmap. A white paper on the project can be found on the official website.

Project Partnerships

Up to now, the FAB Foundation has signed a number of project cooperation agreements. All projects will use FAB as a platform for their decentralized application project, and will carry out technical development concurrently with the FAB team. The FAB team will fully provide assistance for the project partners, from technical support to business support and security protection.

If you are interested in building with us, email us at info@fa.biz or message an admin on Telegram.

The Force

The first hard fork of the Foundation Chain is “The Force”. Since the design is a decentralized platform for global enterprise-level applications, in order to meet the needs of these applications the Force will introduce all features stated in the whitepaper.

The Force fork will inherit all the data on the original Foundation chain, but will add SCAR, KanBan and CCUA functions. Not only can we implement rapid transactions, but we can also implement cross-chain operation functions and have a basically complete application development framework.

At this time, a new coin will be released.

Developers who intend to use the FAB network for their applications can simultaneously participate in the development of the Force along with their application. We encourage developers to make their own contributions and to contact the team for more information. The convergence of wisdom and expertise will lead to success!

Mining

Difficulty

As of the last update, FAB mining difficulty has been as high as 19 million degrees of difficulty. Users and miners can check the mining progress by logging in to fabexplorer.info. You can also check fabexplorer.info to search for trades and blocks.

The new Ubuntu version of the mining software, CUDA, has been updated at fabcoin.pro and can be viewed at any time for download. Go to Runtime at fabcoin.pro and click Ubuntu 16.04 Nvidia with CUDA.

Lock-In

There is no pre-mining period for the foundation chain network and it is directly open for public use and mining. During the first three months, the new currency generated by the mining will be locked for three months. During this period, it will not be transferred or traded. It will be automatically unlocked three months. The first wave of unlocking is expected to be in June (after listing).

The lock-in system is designed to protect the interests of investors and prevent a large number of sell-offs after the listing. The lockout system is temporary. The current block time is the same as Bitcoin. The Bitcoin maturity period is 100 blocks during that time while the FAB network speed is eight times that of Bitcoin, so it is 800 blocks for the allotted time. Any future coins will take less than one day to mature.

The Fabcoin and Doxygen documentation are available at fabcoin.pro. The source code has also been published on the Github website. You can visit https://github.com/blockchaingate/fabcoin to view it. Interested programmers are welcome to participate in the development and testing work. We are open to improvements.

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