ArcBlock Q&A: We are heavily testing our first chain
On March 20th, the nineteenth ArcBlock Community Technical Q&A took place in the Telegram group. The conversation between VP of Engineering Tyr Chen and ArcBlock’s community members is as follows:
Q1: Will the ABT wallet be released on time?
The projected release date for the ABT wallet is at the end of March. Depending on the app store review, a slight delay could be possible.
Q2: What are the benefits of the ABT wallet?
The ABT wallet is different from existing wallets, with deep integration with our DID and ABT chain. In addition to token transfers, you can buy a ticket, earn a certificate, interact with any Forge-based DApp that follows protocol, and more.
Q3: Is it just to store coins? Does it provide any perks, such as Proof of Stake?
The ABT wall supports staking: staking for the node, assets, votes, etc.
Q4: Will the ABT network be online by the end of the month? Will anything change between the testing phase and the public launch?
We are heavily testing our first chain ABT network at the moment and we will make it publicly available soon. Right now, you still cannot change your ERC20 token to ABT, but otherwise, all the functionality is pretty much there.
Let me post several snapshots to share with you:
You can see that we have already deployed 3 chains: One has 1 million txs, one has 4 million txs and the most recent one has 20 validators. All are deployed across Europe, America, and Asia.
Q5: What is the reward percentage for staking?
We haven't decided that yet. In our system, the value of the tokens is using them in various apps, not by staking.
Q6: How do I apply for an ABT node?
We will disclose that by the end of this month. The deployment is pretty easy and we have prepared Ansible scripts for massive deployment. If you are an app developer, this would help you to deploy tens of hundreds of nodes in one shot. And we will provide the chain node on various cloud providers including AWS, Azure and Digital Ocean.
Q7: How will fiat currency be handled on the ArcBlock platform?
We have enabled not only mainstream transactions, but also exchange transactions. We want to release the true power of blockchain-based payments, supporting scenarios that require many parties to participant and sign. For example, auctions:
This is the event chain app we built for demo purposes to illustrate the power of our chain and wallet.
I hope our community can help develop our software quality by using the chain as much as possible, giving us feedback on our documentation, requesting new features, or even contributing to the code.