FAB Development Progress Update: April 24, 2018

In response to the strong desire of the majority of the community, FAB will begin to announce technical updates on the blockchain project every Tuesday.

Here is the FAB progress update for this week:

News

Words from CTO Jason Hong

In an interview with FAB CTO Jason Hong last week, Jason stated “the foundation chain of the network is the cornerstone of safety, the secondary Annex chain provides high throughput. Kanban is responsible for oversight, and full use of the characteristics of each part in order to achieve a safe, decentralized and scalable commercial public blockchain platform. The foundation chain of the network was formally launched on March 28, 2018, and can be formally mined. The degree of difficulty for mining has increased more than 5 million in the last week. It is estimated that there are thousands of GPU cards supporting the foundation chain of the system.”

This week we reached degrees of difficulties totaling in the tens of millions. The current computing power is over 7 million (4/24 10:00 am). Users can check the progress of mining by visiting https://fabexplorer.info.

Important Updates

Source Code

The Fabcoin program and Doxygen documentation are available at https://www.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. You are welcome to suggest improvements.

Website Update

The majority of users should look forward to this week, as the FAB official website will start to usher in a new look created by a team of Toronto’s top professional UI designers.

How to Get Fabcoins to Your Wallet

Fabcoins will be issued from the mainnet chain.
The main chain currency will be issued starting this week and will be issued before the end of April. Please wait patiently. Some users with incorrect information may receive their FAB mainnet coins slightly later.

Address sending method:

  • Log in to your account at https://fa.biz
  • Click “Sign In”, and enter your “Login Information”
  • Check to see that you have passed the KYC under the tab FAB coin. If not, do the KYC first.
  • Enter your correct wallet address in "FAB Address" and click "Save" to save. After saving, you can check if you have saved it by reloading the page.

Note: Please make sure the address you provide is complete and correct. The correct main chain wallet address should start with the number 1 or 3.

Lite Wallet (Mobile)

The lite wallet is currently under development and is expected to be released as soon as it can be listed in May. It will be formally announced on the official website and telegram channel.

Kanban

Kanban is part of the core of foundation chain development. Careful considerations and discussions have been made to determine the current implementation plan. Kanban node designations are unlimited and anyone can join. Kanban will be announced at the same time when the original force is split at the end of September.

Fabcoin Mining

There is no pre-excavation period for the foudation chain network and it is directly open for public use and mining. Within the first three months, the new currency generated by mining will be locked for three months. During this period, it cannot be transferred or traded. It will be automatically unlocked after 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 of mined blocks after the listing. The lock-in system is temporary. Currently, Fabcoin processes blocks 8 times as fast as Bitcoin. This means that in a day, Bitcoin has a maturity of 100 blocks while Fabcoin has a maturity of 800 blocks. The lock-in time is the same at one day. Any future block pieces will take less than one day to mature.

The mining software upgrade is in the process of being debugged and will be integrated with CUDA, hoping to improve the mining efficiency and is expected to be announced this weekend.

Everyone can check https://fabexplorer.info for overall mining progress and to search for blocks.

The Force Diverging

The first bifurcation of the main chain is “The Force”. This first divergencewill inherit all the data on the chain and have SCAR, KanBan and CCUA functions. Not only can will it implement rapid transactions, but we will also implement cross-chain operation functions and have a basic and complete application development framework.

You can read more about “The Force” on the home page of our website, https://fa.biz.

On the Market

Our first listing is scheduled for May. At the current moment we cannot specify listing information due to confidentiality agreements, but once the process is complete and the coin is listed, we will be the first to announce it to the community.

fabcoin.pro

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