Much has changed since we published our last roadmap, we pivoted toward enterprise solutions for healthcare providers and government departments, and then COVID-19 started to spread across the globe. Shortly after COVID-19 arrived in Thailand we asked the staff at our HQ to work from home to keep everyone safe. Some found the transition to working from home harder than others, and our schedule has slipped a little bit while everyone re-adjusted to the new normal. However, we’ve been extremely fortunate in that our staff has continued to do great work during these challenging times.
In the last few articles we announced that we’re working on the next major version of the Loom protocol, on top of which we’ll ship a distributed enterprise platform that will allow healthcare providers and government departments to manage their documents. The new protocol and enterprise platform will also introduce a number of new use cases for the LOOM token. The current timeline for all those changes can be seen below.
We aim to implement most of the core features of the next major version of the Loom protocol by the end of the year. To recap, this includes:
- Upgraded consensus engine.
- Upgraded EVM.
- A WASM runtime to support performant and upgradable smart contracts to replace native Go smart contracts.
- Transaction and storage fees.
- Per-user transaction throttling and quotas that can be specified on a per-contract basis to allow dapp developers to control costs.
Once the core protocol features are in place we’ll build out the document management platform that will handle document authentication, document storage, document sharing, and time-bound documents.
The Extdev testnet will be upgraded to the new version of the Loom protocol and we’ll begin testing with our enterprise clients. Once any major issues found during the testing phase have been fixed and Extdev is deemed to be stable we’ll contract a third-party to do an audit of the protocol.
After the audit is complete the new protocol will be deployed to Basechain, this will require a few hours of downtime to migrate state and upgrade all the nodes in the network.
The new version of the Loom protocol will be open sourced, and we’ll begin on-boarding new enterprise partners.
We’ll make further announcements as major development milestones are reached. So far Thailand seems to have weathered the pandemic better than most countries, hopefully that continues to be the case as more businesses re-open, so we can avoid any further delays. In the next few articles we’ll explore some of the new features of the Loom protocol in more detail, starting with the per-user transaction throttling and quotas dapp developers will use to control costs.