Colosseum Testnet Progress Update (Week 3 & 4)
Hello. This is FirmaChain.
Colosseum testnet is heading towards a grand finale.
Please note that the ending of the Colosseum testnet does not necessarily imply the start of Augustus.
The fruits of the Colosseum testnet’s third and fourth week can be summarized as ▲chain upgrade, ▲hardware ledger support, ▲token swap test, ▲supplementing and enhancing certain features of Firma Station, and ▲reviewing and contacting additional Genesis Validator candidates.
In this posting, we will provide some more detail on the major updates and changes.
▶ FirmaChain v0.3.2 Upgrade
Based on Cosmos SDK v0.44.5, FirmaChain has been upgraded to v0.3.2.
Including FirmaChain, 35 global teams conducted a soft fork for 30 minutes after midnight(Singapore time) and the results were successful. Initially we expected about 20 minutes for the examination, but the process exceeded our expectation by about 10 extra minutes. With the help of our validators, we will enhance the procedure in our next update.
Through this update, the improvement and bug fixes applied to Cosmos SDK 0.44 were applied to FirmaChain, and additionally FirmaChain opened its hardware ledger support. More details on the aforementioned can be found in the FirmaChain GitHub updates.
- FirmaChain GitHub:
- Upgrade Notes:
▶ Hardware Ledger Review and Support
Hardware ledger is the most secure offline wallet and is widely sought after by holders who are in possession of tokens in large quantities on the mainnet.
Hardware ledger, oftentimes referred to as cold wallet, is conceptually different from a hot wallet, which is a term that you might be familiar with from your experiences of buying and selling tokens on various cryptocurrency exchanges. Since hardware ledger remains offline, it is a much more secure means of holding tokens as hardware ledgers are relatively free from the risk of hacking or other cyber security threats.
In order to provide a secure and convenient service experience on Augustus, FirmaChain came up with the idea of supporting hardware ledgers and we’ve made an application that supports hardware ledger.
We are currently waiting for the ledger company to provide us with the results of their review.
- FirmaChain Official Developer’s Guide — Ledger:
- Video of Using Ledger on Firma Station:
▶ Token Swap Test
Once we complete the hard fork of Augustus, we will be providing a service through which holders will be able to swap their tokens into mainnet FCTs. In preparation of the aforementioned, we have reorganized our token swap site, and the process is currently being tested by our validators. As of December 21, we’ve completed the second round of testing.
We are consistently updating and improving the token swap procedure based on the feedback from our validators. In order to provide a stable and secure swap service, as of now, we are planning one to two additional rounds of testing.
We are trying our very best in testing and improving the swap process in order to minimize any unforeseen events and accidents from happening to FirmaChain’s holders when actually swapping their tokens.
▶ Expansion and Supplementation of Firma Station’s Features
In order to provide a seamless user experience on Firma Station, we are continuously expanding features offered through the Station and supplementing existing ones. We’ve already completed the testing of Firma Station to the scope of achieving our original goal. The recent testings were therefore, focused more on enhancing our user experience (i.e. convenience).
Following are some of the updates:
- Hardware Ledger Login Support
- Showing the Staking Status and Ratio
- Addition of Expected Staking APR/APY
- Addition of Favicon and Profile Icons
- Bug Fixes and Additional Labelling Adjustments
We value our validator’s feedback and are always positively reviewing the inputs of our validators no matter how small the inputs are and as a result, we are expecting our Station to be drastically better than those developed by other projects.
*The above image was captured from our testnet and the APR/APY will be adjusted according to circumstance.
▶ Genesis Validator Candidate Evaluation and Contact
Genesis validators are a crucial part of the initial success of a chain and therefore, must be chosen with caution after reviewing the profile of the respective candidates from multiple standpoints. Currently, we are reviewing the track record of a number of genesis validator candidates for the secure and successful operation of our Augustus mainnet Augustus.
- Reviewing the testnet validators based on their rate of participation on the testnet
- Internal review of validators operating on other chains
- Genesis validator suitability review
Since genesis validators are crucial in operating a stable chain and deciding our future course of action, we are approaching with the utmost care.
Currently, we are planning to operate 30 teams as our genesis validators although the exact number can be adjusted depending on the situation.
The FirmaChain team is expecting the overall stability and interoperability of the project to be greatly enhanced as a result of our cooperation with our validators.
The progress of our testnet can be found on our Colosseum Explorer, so we urge you to take a look when available.
[Colosseum Explorer]
[Colosseum Web Wallet — Developer Version]
We will do our very best to successfully wrap up the Colosseum testnet and continue to meet our investors with a new Augustus.
Thank you.
For more information about FirmaChain, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FirmaChain team, please contact us at info@firmachain.org.
About FirmaChain
FirmaChain seeks to replace all written contracts governing social and legal issues by using an electronic contract platform based on FirmaChain’s data blockchain. Since traditional written and electronic documents are easy to forge, and the verification procedures are complicated, blockchain’s decentralization is used to solve the problem. FirmaChain can check the contract’s validity through its hash function, which can be verified in an independent node. This verification process can be used as a means to resolve legal disputes. Blockchain is an effective technology that eliminates the risk of forgery of such documents, and it is applied to the first DApp (decentralized application) of FirmaChain — DONUE.
🔴 Official Channel
Official Site: http://firmachain.org
Twitter: https://twitter.com/firmachain
Medium: https://medium.com/firmachain
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Github: https://github.com/firmachain
