The well-funded and funded IOT blockchain has released the second version of its testnet to the public. IOST claims to have achieved one of the highest transaction speeds in the blockchain industry, as it seeks to provide a corporate iteration ready for distributed ledger technology.
IOST launched Testnet v0.5 "Everest" in June 2018. The company wants to provide an ultra-high TPS network and its mission is to be the basic architecture for the future of online service providers globally .
Terry Wang, CTO of IOST, says that in recent years developers have been inclined to learn the language of Ethereum Solidarity, thus creating an obstacle to the development of DApp.
Everest Test Network is distributed and running on multiple nodes in Tokyo, London, Singapore, Mumbai, Frankfurt, Seoul and Montreal.
The new features of Everest v1.0 include:
- First blockchain to support smart contacts Domain Name System (DNS) and Flexible Access Control for contract upgrades / removal
- First blockchain to support Multiversion Concurrency Control (MVCC) in the storage layer, enabling high-performance storage with the MVCC cache
- Redesigned virtual machine that solves many design problems in EVM and EOS – benchmark performance 10 times faster than EOS and 200 times faster than Ethereum
"Everest v1.0 will serve as the base of the IOST mainnet," adds Wang. "The blockchain industry is still young, many projects do not have the expertise to effectively meet their deadlines, which is why so many of them are delaying their roadmaps." We are proud to offer more functionality and We have even moved our roadmap forward six months and we are now planning to release our Mainnet in the first quarter of 2019. Everest v1.0 is an important update that we are extremely excited to release to our community. we will be back to work immediately improving every aspect of the IOST blockchain until the launch of our mainnet. "
In addition, IOST launched two separate entities to help promote adoption:
- Bluehill: an incubator and blockchain accelerator that has recently raised $ 50 million. Bluehill provides crucial support for IOST partnerships and industrial projects built within the IOST ecosystem.
- Theseus: a research and development team focused on IOST dedicated to pushing the envelope in blockchain technology and paving the way for the IOST developer community.