koinosnetwork
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koinosnetwork

Test Net v0.2.0 Update

The relaunch of the test net has gone fantastically well. It’s performing great and people are already experimenting with fee-less smart contracts! We learned a lot from the first launch of the test net, and those lessons carried into a successful v0.2.0. We’ve seen how strong the demand is among community members for the solution we are developing and it inspires us to deliver the best version of Koinos we can.

We also learned how much more work we need to do to make Koinos what the community wants it to become. We are extraordinarily happy with v0.2.0 and the community’s enthusiasm and support has been amazing. But we also don’t want to repeat our previous mistakes. There are still features that we need to add to the framework; additional system calls that will ensure that the need to hard fork will be reduced to the lowest degree possible.

The fewer hard forks we need to execute after main net launch, the faster Koinos will be able to evolve and outpace the competition. Such changes will necessitate at least one more relaunch of the test net and we want to be sure we have plenty of soak time to find as many bugs as possible, all while continuing to create user and developer-focused tools to make the launch as successful as possible.

We are also cognizant of the fact that while Koinos has not yet been launched, KOIN can be acquired via the ERC-20, which will no longer be the case once the main net is launched. Without a bridge or CEX, there will be no way for new users and developers to acquire KOIN. This is a difficult cold-start problem. We want Koinos to have the right launch partners in place to ensure the success of the main net. Interest in Koinos has been increasing exponentially, so we want to take full advantage of the opportunities that lay ahead. So keep spreading the word because every bit helps!

Main Net Timing

All of this means that main net by the end of this year is not just improbable, but also not advisable. It’s not ideal, but the worst thing would be a main net release that was not a success. That‘s why we want to take the time to be sure that the software is polished, and ready for developers while at the same time getting the right partners in place so that Koinos is positioned to succeed.

Transparency v. Deadlines

Instead of setting a deadline for releases, we’ll communicate every other week (aligned with our AGILE sprints) what we have worked on and what our current progress is. This way we can better communicate the status of development, account for setbacks, and integrate community feedback as we go.

Thank you for sticking with us along this journey and helping us to make Koinos into the disruptive force for decentralization that we know it can be. We knew this wouldn’t be easy, but with this amazing and growing community at our backs we know we can deliver something truly great!

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Andrew Levine

Andrew Levine

CEO of Koinos Group, Architects of Koinos