FirmaChain Releases Imperium Development Progress(on ver. 0.2.9 update)
Hello. This is FirmaChain.
FirmaChain has been releasing a lot of updates via GitHub lately. As a result, we believe that a lot of our holders would be interested in the recent development progress of FirmaChain. In this posting, we would like to share some details on the FirmaChain ver. 0.2.9 update.
FirmaChain’s DevNet Imperium has gone through a total of 6 updates from ver. 0.2.3 to the current ver. 0.2.9.
Core component of our updates consists of Cosmos SDK related updates. Since Cosmos SDK has gone through multiple technological updates recently, we have also updated our system based on the most recent version of Cosmos SDK (SDK ver. 0.44).
Following is a more detailed explanation of our recent updates.
▶ Addition of FeeGrant module
FeeGrant is a key feature that allows FirmaChain to pay the fee for DApps developed on the FirmaChain mainnet. Fee payment can be structured based on a set time frame or can also be based on a predetermined amount.
Once we’ve completed the hardfork of our mainnet Augustus, we will apply the aforementioned fee payment structure to DApps selected based on our partnership program.
▶ Addition of AuthZ module
AuthZ — a feature that is similar to the ‘Approve’ function of Ethereum — is an ‘authorization’ module that allows a third party to transfer a user’s asset based on the conditions laid out in a smart contract.
Instead of arbitrarily transferring a user’s asset, the AuthZ module receives consent via smart contract from the user before a transaction happens. This feature, we believe will become crucial for NFT exchanges.
▶ In-Place Store Migration and Upgrade Handler update
In-Place Store Migration and Upgrade Handler are two features developed mainly for FirmaChain’s validators. Both features will allow validators to upgrade FirmaChain with more ease, in the future.
To upgrade the chain, precise time calculation in order to reach the identical block height, the verification of back up data and the verification of modified chain binary data is necessary. With our most recent update, we’ve drastically streamlined the above process for our validators.
In order to upgrade the chain, such agenda must be registered through one of the chain’s governance feature called ‘Proposal.’
Once a specific block height and the appropriate version is proposed through the agenda and once the agenda passes voting, all chains are stopped at the proposed block height. Henceforth, the upgrade process is completed once the proposed binary version is installed and executed.
After the release of our new testnet on September 2021, (related post : https://link.medium.com/7Yt3bZLlqjb) for the past month and a half we’ve been conducting a number of intensive tests.
So far, a total of 690,000 blocks have been created with close to 2,000 transactions being successfully tested under various stress-test scenarios.
Currently, the FirmaChain development team is internally working on formulating the network structure of Colosseum, the public version of our testnet and refining our relevant policy. Henceforth, we will soon come back with an announcement on validator participation. We expect our public testnet will receive widespread attention within our community.
On a side note, the Colosseum phase will start with FirmaChain ver. 0.3.0. Our plan is to operate the Colosseum testnet for a duration of 4 to 6 weeks. During the aforementioned period, we will simultaneously conduct a security audit on FirmaChain with industry standard professionals and once completed, will release the results of the audit.
Additionally, we are also in the process of developing our blockchain wallet service which is a crucial part of the token swap and validator staking process that will take place after our mainnet hardfork.
Relevant details can also be found in the FirmaChain GitHub page.
Once again, we emphasize that all of FirmaChain’s development progress are being released transparently through our GitHub page and if you have any questions on validator participation, please contact us at contact@firmachain.org.
Thank you.
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.
For more information about FirmaChain, or to join our team, please contact us at info@firmachain.org.
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