New blockchain project Constellation Labs for “consumer grade” applications development announced the listing of its DAG token on KuCoin exchange, following the recent launch of their developer community Orion. Orion has an award system for participants and will be used for the testnet at the beginning of August.
The main feature of Constellation is that its network is proportional to user adoption. That is to say, its throughput is about 4000 to 4800 transactions per second (tps) with a 1200 node cluster. In comparison, the Bitcoin network has an average capacity of fewer than 4 tps, and Ethereum is about 15 tps.
This is achieved through harnessing dynamically partitioned consensus that allows the network to scale the number of tps. Reputation-based incentives eliminate transaction fees between users. Constellation uses Proof-of-Meme (PoM) protocol, letting individuals directly contribute to the improvement and monitoring of the chain by utilizing computing power from their own smart devices. PoM rewards those who improve a node’s overall reputation within the system.
“The Constellation protocol aims to solve the primary challenge of scalability in the blockchain, providing a solution that is highly resource-efficient and exponentially scalable”, said Constellation CTO Wyatt Meldman-Floch.
Constellation deploys smart contracts as “microservices” so that services can be chained and composed into distributed applications. “Microservices” is an approach to application development in which a large application is built as a suite of modular services. Each module supports a specific business goal and uses a simple, well-defined interface to communicate with other sets of services. Microservices are concurrent processes, unlike smart contracts which must be in every node.
Community platform to help network development
Constellation launched their portal Orion on June 18th, calling it a “flagship” product. The purpose of Orion is to induce the developer community around the project federating all of Constellations information and content in one central hub. Orion will allow the community to earn tokens for contributing across a range of activities, from bug reporting to correcting White Paper mistakes and providing support to other members.
Constellation token holders will be able to stake DAG tokens to gain membership in the Orion, with a free tier available to view the portal’s channels and message boards.
Another option to get DAG tokens is to participate in the Constellation testnet launch, scheduled for August 1. Token holders will need to stake DAG tokens to run a testnet node and validate test transactions. Nodes will earn validator rewards based on their transaction throughput and reputation score. Application for running a testnet is currently open. Once tokens are staked, they will be locked for the duration of the six-month membership period.
Constellation CEO Brendan Playford commented on the Orion launch: “We want to empower our community to help shape, build, and grow the ecosystem efficiently, while encouraging our developers and community members to stake their tokens. At Constellation, we are eager to create a way to digitally capture and quantify trust that exists between people in the world, and use it to secure the network. It’s our hope that by opening up this incentivized portal and encouraging the staking of our token, we will mobilize the Constellation community at large to address the obstacles to scaling the network”.
“Constellation testnet will ultimately be launched through Orion, providing a safe testing environment for core and future development on the network”, Meldman-Floch added.
Listing after successful pre-sale
KuCoin crypto-assets exchange announced the listing of Constellation’s DAG token, increasing its availability to users and their participation in the Constellation network.
Constellation has raised $35.2 million in a private pre-sale, ending in January 2018 and described as “successful”. The company sold more than 730 million tokens to accredited investors, funds and institutional investors.
Consumer interest has been equally strong with 62k individual sign-ups in the now-closed Airdrop registration and an active channel of over 30K on Telegram.
Let’s block ads! (Why?)