MarcoPolo Protocol Overview (May 13, 2020)
Current MarcoPolo Protocol development summary (May 13, 2020)
MarcoPolo Protocol is dedicated to developing a chain-to-chain interoperation protocol. We will support the expansion of P2P electronic cash infrastructure, which will apply and serve the inter-chain interactions with other public chains and applications such as Defi, Dpayment, and Dex. In order to archive it, we have the following market plan.
1. We have registered and established a directly managed company in Brazil. The founding team members will lead the local team in Brazil to implement specific P2P electronic cash payment and other application realization. We will focus on MarcoPay, working on merchants, consumer coupons, Defi, and so on.
MarcoPay Brazil Official Website: https://www.marcopay.com.br/
2. While we expanding the Brazilian market, we will make all corporations and use cases in Brazil as an example. Then, through expansions with local payment partners (such as payment agents and stable coin providers), we will future push MarcoPolo Protocol’s core product MarcoPay and operational system to other countries, including Korea, Thailand, Turkey, and other European countries. At present, we have partnered with Ollepang institution of Kaiser in South Korea, Ksher in Thailand, and Tee-coin in Japan.
3. We will reach out with other public chains and help them to add more application scenarios and ultimately add more usages to their tokens. We will help them to get access to MarcoPolo Protocol and MarcoPay application.
Project Development and Plans
MarcoPolo Protocol Standard Chain (https://github.com/marcopoloprotocol/marcopolo) has 326 commits so far, an average of 30 commits per week for the past three weeks.
MarcoPolo Protocol development is currently in the Interaction stage — Standard Chain development stage and it is expected to be completed by Q4 2020.
This entire development stage is divided into 5 sub-stages:
- PoC-0, completed; PoC-0 v0.0.1 version has been released on March 28, it realized a basic PoA blockchain structure.
- PoC-1, expected to be completed in June 2020: we are currently at this stage, the goal is to realize MarcoPolo Protocol standard chain APoS consensus, state management, and contract-based transaction management.
- PoC-2, planned to be completed in August 2020: improve consensus and transaction processing and realize MAPVM and contract supports.
- PoC-3, planned to be completed in November 2020: abstract VM and RunTime and realize SMART system and on-chain upgrade.
- PoC-4, planned to be completed in December 2020: to achieve on-chain governance
Token Distribution & Ecosystem Development
There are three major factors for ecosystem expansion and development: professional institutions, small and medium-size business merchants, and developers.
Among them, 32% of the total MAP token circulation will be used for Institutions and Partners. This section is reserved for cooperation with other public chain projects, investment institutions, and large-scale payment institutions around the world. 9% of the total MAP token circulation will be used for the Eco-system of Application, this part is mainly for small and medium-sized merchants and users, allow them to access other public chains and ecological negotiation access. Also, this part will be used for the MarcoPay incentive to invite more people to use MarcoPay and DAPPs. 9% of the total MAP token circulation will be used for the Technical Community to encourage developers to build MarcoPolo Protocol and electronic cash and payment related DAPPs development. Therefore, nearly 50% of the total token is used for the expansion of the ecosystem to ensure development and growth.
· MarcoPolo Protocol Medium (For the latest articles)
· MarcoPolo Protocol GitHub (For the complete codes)
For more information, visit marcopolo.link