Taraxa Project
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Taraxa Project

Taraxa Progress Update: Weeks 6-7, 2022

Roadmap 2022 is out!

With the rollout of our Roadmap for 2022, our progress updates now track the roadmap and go over highlights of the progress made each week. We hope this will help the community to better understand how our development contributes to larger overarching project priorities.

Per the roadmap, our two priorities for 2022 are,

  • Native token conversion: to convert the current ERC-20 tokens residing on the ETH network onto the Taraxa network
  • Social listening app launch: launch the social listening app platform

State of the Network

As of February 17, 2022, here’s the state of the Taraxa network.

  • 392 million TARA staked, 332 million TARA delegated
  • 49 active consensus nodes on the Mainnet Candidate
  • 288 active consensus nodes on the Testnet
  • 2,032 commits across the top 4 repos in Taraxa’s Github for the past month

Progress Highlights: Native Token Conversion

For the Taraxa Protocol, Stability and Security are the primary focus. In the past 2 weeks, the dev team has focused on the following issues,

  • Fixes in oscillations in VRF difficulty to make DAG block production more stable.
  • Fixes to make PBFT block production chances more proportional to the delegation.
  • Fixes to make transaction ordering obey nonce & transaction fee rules.
  • Introduced peer blacklisting for nodes that appear to be consistently gossiping invalid information.

For the Taraxa Ecosystem, Delegation has been the primary development focus,

  • Implemented the ability to un-delegate your stake
  • Created scripts that auto-calculates consensus node commissions on the Mainnet Candidate

Also within the Taraxa Ecosystem, we’ve focused on engaging security audit firms as the first step towards exchange approvals,

  • Discussed with and received guidance from three exchanges that Foundation has contractual relationships with (Kucoin, Gate, AscendEx) regarding their native token conversion process
  • Interviewed and requested quotations from blockchain 5 security audit teams as the first step to obtain a security audit report of the Taraxa protocol, a requirement for the token conversion process on exchanges

Progress Highlights: Social Listening App Platform

Our development efforts for the Social Listening app has primarily been focused on the data gathering layer, in which we’re building a distributed network of listeners to gather data from public Telegram groups.

After we’ve made visible progress (i.e., beyond thousand of lines of code) we’ll share with the community!

Thank you and stay tuned! 😄

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