Hello to the whole IOST community from different corners of the world! Hello to all blockchain enthusiasts! We’re ready to share the second March Biweekly update on IOST!
IOST is a leading distributed ledger technology project focused on unleashing the power of blockchain through its decentralized, fast and highly reliable network!
Olympus v3.3.2 is now running steadily with over 400 Partner nodes, reaching more than68715363 block height and more than 68715432 transactions as of March 28th, 2020, voting ratio stably close to 34%, 807 tokens issued and 712 smart contracts.
IOST has officially opened its brand-new Blockchain-as-a-service (BaaS) platform based on six underlying core technologies of blockchains: multi-cloud support, multi-chain support, permission management, smart contracts, privacy protection, and consensus mechanism. BaaS is customized by Hyperledger Fabric, the most widely used consortium chain system in the world. It can simultaneously update millions of data and support the upload of hundreds of millions of data. Through the IOST BaaS consortium chain, it is possible to achieve decentralized management, immutable tracking, auditing, data traceability, reliability privacy and security. BaaS can open corporations to various types of enterprises, developers, local government departments, and other organizations, providing direct technical services, consultants, blockchain training, and promotion services to create an open and win-win blockchain business ecosystem.
Aiou looks forward to working together with members of Hyperledger to strengthen the community and promote the development of the blockchain industry. IOST can broaden & strengthen the members in the pursuit of promotion and development of cross-industry blockchain technology.
Another strategic partnership! IOST Foundation is happy to enter a deeper collaboration with AWS China, the global leading cloud computing platform to implement its cloud development strategy & push forward its compliance process. Through this cooperation, IOST will also accelerate the growth of their global ecosystem.
The IOST team have unveiled a new staking mechanism! The new model makes it possible for IOST on-chain voters to “unstake” their tokens within just three days, thereby giving voters more flexibility while also allowing them to earn higher rewards. Each IOST token staked by a member of the IOST ecosystem entitles them to one vote. In essence, the more IOST tokens a user stakes, the more votes that user will be able to cast on the platform. IOST holders can vote for themselves or other members of the IOST ecosystem with just one account. IOST holders can cast their votes via several third-party channels including IOSTABC browser, TokenPocket mobile wallet, and IOST voter dApp.
IOST’s mainnet turned one-year-old on Feb 25th, 2020! Celebrate the mainnet’s birthday with Binance! It’s a special promotion! 10,000 USDT and 500,000+ IOST have been prepared for airdrop, as well as a discount on trading fees in Binance. There are 3 promotional events from IOST & Binance not to be missed, from 23 March to 29 March 2020! Read on for more info!
More news to follow! Stay tuned!
Development
GitHub metrics:
Developer activity (from Coinlib.io):
Mainnet Statistics
As of March 28th, 2020
IOST Blockchain-as-a-Service Platform
IOST has always been looking for the most innovative ways on how to improve functionality and overall work of small or large businesses and governmental organisations. A growing number of progressive enterprises are now aimed at integrating blockchain technologies to establish a decentralized, efficient, secure, transparent and immutable platforms which can guarantee an overall growth of productivity and eventually a higher yield and profit.
IOST has recently come up with breakthrough solutions to help businesses thrive.
IOST has officially open its brand-new Blockchain-as-a-service (BaaS) platform, also known as “the Aircraft Carrier Plan”.
Firstly, we will briefly highlight the main characteristics and advantages of BaaS and secondly, we will focus on how the platform can be successfully integrated in different sectors.
Key Characteristics and Benefits of BaaS:
IOST BaaS is based on six underlying core technologies of blockchains: multi-cloud support, multi-chain support, permission management, smart contracts, privacy protection, and consensus mechanism.
BaaS is customized by Hyperledger Fabric, the most widely used consortium chain system in the world.
It can simultaneously update millions of data and support the upload of hundreds of millions of data.
Through the IOST BaaS consortium chain, it is possible to achieve decentralized management, immutable tracking, auditing, data traceability, reliability privacy and security.
BaaS can open corporations to various types of enterprises, developers, local government departments, and other organizations, providing direct technical services, consultants, blockchain training, and promotion services to create an open and win-win blockchain business ecosystem.
IOST BaaS Platform can provide various blockchain solutions to the following sectors:
Government Affairs
The e-government platform based on IOST BaaS will adopt point-to-point encrypted transmission and rapid approval of “smart contracts”. This can help to achieve cost reduction, efficiency, transparency & traceability, and information security encryption, breaking data isolation issue.
Judicial Field
The judicial consortium chain based on IOST BaaS reduces the cost of electronic evidence storage and enhances the authenticity of electronic evidence, thereby improving the efficiency of litigation.
Supply Chain Sector
With IOST BaaS, companies on the chain can achieve peer-to-peer communication and transactions without the need for intermediaries, which can reduce trust costs. The information contained by on-chain nodes is identical and automatically updated. This will help to eliminate manual operations and paperwork consequently reducing costs.
Moreover, IOST BaaS will provide more resources for big data analysis based on the supply chain, improve data quality, reduce the risk of data leaks, and make Big Data become possible.
Charity
Taking into account the immutability and traceability of the platform, donors and recipients can be effectively connected and everyone can check the flow of donated materials.
In addition, the use of blockchain smart contracts can also solve problems such as complex processes and black box operations in traditional charity projects.
Internet of Things
IOST BaaS IoT chain will greatly reduce the pressure on the computing side and also unleash more possibilities for new organizational structures of the IoT, providing more room for innovation. Secondly, the accuracy and immutability of the consortium chain records also make the privacy and security evidence-based.
Energy Field
In P2P power transactions between users and generators can be achieved through an energy consortium chain developed on IOST BaaS. For the determination of loss, the conversion loss between different energy sources, the long-distance transmission of energy, and other losses caused by other operations can be notarized more transparently through the blockchain.
Art Trading Field
IOST BaaS can build a highly trusted decentralized artwork data database, including photos, collectors, affiliated artists, transaction information, and review information of artworks, etc. can be uploaded to the blockchain network. During the transaction process, art enthusiasts can extract artwork data from a decentralized network, view the artwork information, and make a reasonable valuation of the artwork.
IOST aims to build more partnerships with the government and different enterprises to help them adopt blockchain technology and improve their businesses.
IOST is dedicated to the research and development of blockchain technology and to the continuous introduction of trusted blockchain platforms and products to the market.
IOST Updated Mainnet Olympus v3.3.2 Official Launch
Two Major Updates
1. Further improvement of the cryptographic library
In the previous version v3.3.1., they had added a new hash function to the on-chain cryptography library: ripemd160.
Cross-chain atomic swaps are an increasingly widely-used requirement. At the moment, the most common implementation of the atomic swap is Hash Time Locked Contracts, being the ripemd160 protocol is one of its most important cornerstones. Projects like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Decred, etc., also make use of ripemd160 for Atomic Swap.
References:
https://github.com/decred/atomicswap
https://github.com/AltCoinExchange/ethatomicswap
After IOST integrates ripemd160, third-party developers will be able to implement atomic swaps with other mainstream chains. Furthermore, a completely decentralized cross-chain exchange will also become a reality.
2. Expired data cleaning
When a new node joins the IOST ecosystem, it is often a requirement to download a blockchain snapshot to start it. The current snapshots are over 200GB which requires massive data traffic and disk storage. This massive data requirement is a potential obstacle to limit new nodes from joining.
In version 3.3.2, the team developed a tool for cropping block data that can delete early block data. It can reduce the disk usage by 20 times, from about 240GB to just 13GB, without any side effects to a node’s regular operations.
For nodes that will not produce blocks, it is recommended to use the simplified snapshots to start the blockchain.
Related documents:
https://developers.iost.io/docs/en/4-running-iost-node/Deployment.html#snapshot-with-pruned-history
Three Main Code Quality Improvements
1. Improved program stability at runtime
In the previous mainnet version v3.3.1, they have already fixed a minor but persistent memory leak. This fix improves the stability of the program operation.
2. Test boost
In v3.3.2, we updated the testing and continuous integration of the code. Stronger testing results in better reliability.
3. Better code management
In v3.3.2, the team switched the Golang dependency management to Google’s recently launched Go Modules, among other external dependencies that were also upgraded. This will simplify our code and let us implement the improvements proposed by the community more easily. The points described are beneficial for the long-term evolution, bugs fixing, operating efficiency and maintainability of the IOST mainnet.
Future Plans
The short-term focus will be to improve IOST’s cross-chain technology with third-party partners. The team will implement IOST’s light nodes in a well-known cross-chain ecosystem. This requires to make some corresponding changes to the IOST main chain, such as generating a receipt every time a block producer node is rotated and implementing a progressive Merkel tree to facilitate block verification on light nodes. This may require one to two incompatible version upgrades.
Constant iteration and updates are the solid foundation for IOST mainnet’s stable operation.
Social encounters
no updates
Finance
Token holders and the number of transactions dynamics (information from iostabc.com )
IOST Unveils New Staking System
The IOST team has rolled out a new staking mechanism to better satisfy the needs of its users.
The new staking model makes it possible for IOST on-chain voters to “unstake” their tokens within just three days, rather than the usual seven days, thereby giving voters more flexibility while also allowing them to earn higher rewards.
Each IOST token staked by a member of the IOST ecosystem entitles them to one vote. In essence, the more IOST tokens a user stakes, the more votes that user will be able to cast on the platform.
The “freeze period” for all IOST voting channels have been drastically slashed to just three days, however other voting channels including the Huobi pool, OKEx pool, OB pool, Liebi pool and others, will announce their respective freeze periods shortly.
As a decentralized network, IOST is owned by its users and the decisions made on its operation, how it develops and its future are determined by you. By voting with your tokens, you are deciding who represents you to govern the IOST network and who contributes to the future development of the ecosystem.
IOST holders can vote for themselves or other members of the IOST ecosystem with just one account. However, voters must wait for three days to redeem their pledged tokens before using them to cast fresh votes.
IOST holders can cast their votes via several third-party channels including IOSTABC browser, TokenPocket mobile wallet, and IOST voter dApp.
Preview. The Event List of TokenPocket 2nd Anniversary
Celebrate IOST Mainnet’s Birthday With Binance! Special Promotions Await
IOST’s mainnet turned one-year-old on Feb 25th, 2020!!!
10,000 USDT and 500,000+ IOST have been prepared for airdrop, as well as a discount on trading fees in Binance. There are 3 promotional events from IOST & Binance not to be missed, from 23 March to 29 March 2020
Follow the link for details
IOST Mainnet Token Burn. 7,350 Million ERC-20 Tokens Successfully Burnt
7,350,000,000 ERC-20 tokens were burnt by the Foundation on March 12, 2020, marking it the eighth successful batch of IOST ERC-20 tokens burnt.
IOST has completed the destruction of all ERC 20 tokens except for some exchanges and users who have not taken the initiative to swap and destroy tokens. For the exchanges pending with the destruction of IOST ERC 20 Token, IOST will publicize it to community members in a timely manner.
Roadmap
IOST 2020 roadmap has been finally revealed! In 2020 IOST will surely continue to contribute to an open, efficient and rapidly developing blockchain network! A creative and progressive IOST team never fail to inspire the most advanced community! Check out what’s been recently unveiled!
Q1:
- IOST Node Program v2.0
- Cross-Chain Technology Mass Adoption And Application Showcase
- IOST Staking Mechanism v3.0
- Start Compliance Progress in Japan, Korea, The US, Singapore, Vietnam, etc.
- Start Organizing Offline Meetups In 23 Cities Worldwide
- Launch Three Top-Quality DApps
- Improve Ecosystem Services And User Experiences
Q2:
- Accelerate The Expansion of IOST Partners Program to 30 key countries, Forming An Ecosystem With Global Connectivity And Healthy Competition
- Fulfill Compliance Standards in Japan, Korea, The US, Singapore, Vietnam, etc.
- Develop Partnership With At Least five Leading Enterprises
- Built and Sustain a Better Community Ecosystem
- Plan Initiate Campus In 80 Universities Globally
- Popularize Blockchain Tool Applications
- Improve Ecosystem Services And User Experiences
Partnerships and team members
Since 2019, more than 400 partner nodes from about 20 countries around the world have joined the IOST ecosystem. With the joint efforts of everyone, IOST has achieved a total staking volume of more than 4 billion IOST and also recorded great achievements in multiple fields such as payments, public welfare, education, traceability, mass adoption and compliance progress.
To attract more partners to the IOST node ecosystem while ensuring the interests of the main contributors, IOST now presents the Node Program v2.0, which has been be in effect from March 10, 2020.
IOST’s Enterprise Arm Officially Joins Hyperledger Alongside Walmart, Clear and Conduent
On March 3, 2020, during the first day of Hyperledger Global Forum 2020 — Brian Behlendorf, Executive Director of Hyperledger announced the addition of eight new members, including IOST Enterprise Edition AIOU Technology, the renowned world’s top 500 companies Clear, business giant Conduent and Walmart, amongst other blockchain companies. Hyperledger is the most widely used consortium chain system in the world.
Terry Wang, IOST co-founder said:
“As a company focusing on blockchain technology’s research and development, we are committed to constructing a consortium BaaS (Blockchain-as-a-service) platform and providing professional and targeted blockchain solutions for enterprises and governments. We have accomplished substantial social and economic benefits since the establishment of IOST three years ago, and successfully empowered the real sector with innovative blockchain technology in multiple fields, including anti-counterfeiting traceability, supply chain finance, data assets sharing, and recording. Aiou looks forward to working together with members of Hyperledger to strengthen the community and promote the development of the blockchain industry.”
Together, they will jointly grow the commercial applications of blockchain technology.
Joining Hyperledger has laid a solid foundation for building an efficient commercial network based on blockchain technology in the future.
In the future, we will also work with Hyperledger sub-project Fabric to promote the development of distributed ledger technology DLT.
IOST can broaden & strengthen the cooperation with Hyperledger members in the pursuit of promotion and development of cross-industry blockchain technology.
Hyperledger Fabric 2.0. X Aiou Technology, to promote the development of DLT
On January 30, 2020, Hyperledger updated its most important subproject, Hyperledge Fabric to v2.0. The new version has improved performance and added 6 main functions, which are indispensable for the development of distributed ledger technology DLT.
- New chain code life cycle management: Decentralized governance for smart contracts was introduced. Before interacting with the ledger, multiple organizations must agree to the parameters of a chaincode.
- New chaincode application patterns for collaboration and consensus
- Private data enhancements: Organizations can now choose to share data privately with specific members of their direct network;
- New external chaincode launcher: This feature empowers operators to build and launch chaincode with the technology of their choice.
- New Raft consensus
- Performance improvements: include parallelization of tasks and more efficient program flow, allowing the network to support thousands of transactions per second.
Fabric 2.0 is the future and that the continuous cooperation with Hyperledger will bring services with higher data privacy functions, higher performance and decentralized consensus mechanism to more users.
- Official announcement on Hyperledger: http://c7.gg/fV6KY
- Official announcement (Chinese): http://c7.gg/fV6Ld
- Forbes article: http://c7.gg/fVK65
Final Results for IOST Q1 2020 Contribution Rankings and Rewards
IOST Became The First Blockchain Project Interviewed & Advertised by Amazon AWS China
IOST Foundation is happy to enter a deeper collaboration with AWS China, the global leading cloud computing platform to implement its cloud development strategy & push forward its compliance process. Last year, IOST’s Blockchain-as-a-Service (BaaS) platform was officially live on Amazon Web Services Marketplace.
IOST co-founder Terry was invited to an exclusive interview with AWS China and IOST foundation is glad to be well-endorsed by AWS China & to be:
- the first blockchain project interviewed by AWS China
- the first blockchain project advertised on AWS Cloud Computing WeChat account as their first high-quality blockchain cooperation
- the first blockchain project displayed on AWS China website
Through this cooperation, IOST will accelerate the growth of their global ecosystem and the compliance process for the global market, thus reaching out & empower more enterprises worldwide with its leading & innovative blockchain technology.
As IOST co-founder Terry highlighted:
“Blockchain has been gradually applied to different industries, including public utilities. It is important to deploy on a compliant cloud platform, and AWS can meet the compliance requirements of blockchain companies in China and globally. AWS has a higher number of available areas than other cloud service providers, which means that we can deploy IOST’s blockchain applications in a wider range of regions and effectively push the global compliance process of IOST. With the AWS China (Ningxia) region operated by Xiyun Data and the AWS China (Beijing) Region operated by Halo New Network, we can easily develop our business both in China and globally.”
The collaboration with AWS- the global leader in providing cloud services will further accelerate IOST’s global deployment and global compliance progress.
In the future, IOST will continue to work with AWS and APN Premier Consulting Partner, to introduce more concepts, architectures, and services to restructure the entire blockchain internal testing platform infrastructure and strive to bring advanced blockchain technology into more industries and empower enterprises to develop innovatively.
This article by IOST Watch explains what IOST has done and what it’s going to do has it celebrates its first mainnet launch anniversary.
Other
Social media metrics
Social media activity:
Social media dynamics:
The graph above shows the dynamics of changes in the number of IOST Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.
This report is not financial advice.
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