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Multichain fastMPC Testnet Progress Report

Get to know fastMPC updates

Since fastMPC Testnet Program started on Apr 26, a total of 132 nodes have signed up with 123 nodes running for a month (as of June 6th). Meanwhile, over 200 participants have joined our TG community and actively engaged in the discussions on node registration and network optimization. We appreciate everyone’s support in validating and improving the stability of fastMPC as part of our pursuit towards decentralization.

https://testnet.multichain.tools/

Testnet Incentive

The first 100 registrants who have been operating nodes for a month and who now complete node upgrades will get MULTI rewards, as our appreciation for their efforts. This testing phase will last for 3 months. Rewards will be determined based on the length of time that nodes have run and will be distributed on a monthly basis. The longer the node has operated, the more rewards it receives.

  • 30 MULTI to registrants who have been active for more than 90 days
  • 20 MULTI to registrants who have been active for more than 60 days
  • 10 MULTI to registrants who have been active for more than 30 days

Shortly after the completion of the node update, the first awards will be distributed to the addresses of the relevant nodes.

Note: to verify the authenticity of your address and the progress of node upgrades, please ensure you’ve entered into our Telegram community https://t.me/fastmpc_testing

Testnet progress and optimization measures

During this testing phase, we focused on the public keygen and signature features of MPC distributed computation, with an emphasis on its success rate and performance, i.e., calculation speed. Together with our community’s efforts, we are able to identify a number of network connectivity issues, which in turn help us to optimize and improve the fastMPC network. Based on the testing results, several measures have been taken as follows.

  • A compressed version of each data packet is now available to compress the amount of data being sent.
  • MPC internal nodes have been updated to be statically connected nodes to solve any TCP disconnection problems.
  • An enhanced acknowledgment and retransmission mechanism has been applied.
  • A node broadcast mechanism has been applied so that nodes can receive data and transfer it to others simultaneously.
  • The node detection system has been optimized. The network connection status is checked when nodes initially start, and if it fails, the system continues to listen for the relevant status.

What’s next?

The main purpose of this testing program is to enhance the functional stability of the nodes for distributed computation in an extranet environment. To further optimize fastMPC network, we are planning a phase 2 program with fastMPC frontend to be launched, which is expected to debut later in June.

With the upcoming release, more users will be able to participate in the testnet program, with fewer technical skills required. Stay tuned for more information!

What’s Multichain fastMPC

Secure Multi-Party Computation (MPC) network is the core technology underpinning Multichain, also the key to Multichain security model and mechanism. MPC 2.0 — fastMPC offers increased speed and enhanced security.

  1. fastMPC performs 4–5 times faster than MPC 1.0, which will contribute to more speedy and smoother cross-chain solutions and experience.
  2. Rounds of internal and external audits have been made to make sure contracts do not have frequently occurred and high-risk bugs. Effective measures have also been taken to prevent dishonest nodes.

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