Upcoming launch of the Waterfall Network
Dear Community and Future users of Waterfall,
We are inviting you to join our channels if you haven’t done it so yet. We are excited to send you this notice about the upcoming launch of the Waterfall Network.
We are pleased to announce the culmination of the intensive internal testing process with the help of Google Cloud Startup Program and completed an independent security audit with Hacken.
The launch date is planned for June 28th and the listing date is July 17th.
To preserve fairness for all participants of the community, the coin distribution (aka “Token Generation Event”) will be happening on the same date and time as the listing. Everyone will be able to start using the network and contribute to its security at the same time. More details are found in the documentation section of our website.
We are excited that there will be multiple exchanges integrated with WATER as well as staking infrastructure providers globally. During the three weeks after the launch on June 28th there will be conducted integrations with various ecosystem participants, including exchanges and staking infrastructure providers. Please follow the updates on our community channels to get more updates on this matter and learn about announcements of partnerships with infrastructure providers. .
Based upon community input, there will be important changes to the version of the main net to be released on June 28th as follows:
- Workers will be renamed to Validators. And Validators will be renamed to Verifiers
- The stake amount per Validator is changed from 3200 WATER to 32000 WATER
- The penalties for Validators will be increased
- The length of slot will be increased
- The limit for number of blocks per slot will also be increased
These changes have been made to ensure stability of the network. The security audit did not find any logical flaws in the network design but there were recommended code improvements suggestions such as an update of the version of GoLang, which involves a lot of changes to the code. As we do not want to delay the launch and optimally we would have liked more time to run the test net, in the best interest of the community the decision was made to release this version for you to start utilizing the network and get familiar with its features. After gathering the empirical data about network utilization and we will have a program to capture bug findings from the community, please expect updates intended to increase network performance, usability and requirements to encourage participation in the network.
Future work will include scalability improvements and decentralization of the consensus, managing the growing hardware requirements of a growing community aligned with the future project road map and project vision highlighted in this article.
The launch will be run on nodes controlled by Waterfall Association. Their node numbers may be increased or decreased under various scenarios after the network launch to ensure the combination of decentralization and network operation stability.
All rewards received by the nodes run by the association from the main net launch on June 28th until public access opens on July 17th will be used for a bug bounty program for the developer community.
Please go to the website and follow any of our community channels:
Discord: (run-node channel)
