IOST Releases New Blockchain Everest Test Network Upgrade (Version Two)
San Francisco, CA (October 1, 2018). IOST which is an enterprise-grade blockchain network released officially today their second version of its testnet to the general public. Testnet v1.0 ‘Everest’ follows the first release that achieved among the highest transaction speeds in the blockchain industry.
IOST launched the testnet v0.5 ‘Everest’ around June 2018 backed by a cool $40 million coming from investors such as Matrix and Sequoia China. The project was spearheaded by a team of repeat founders who had enough experience in this sector. The company is setting ground for the introduction of an ultra-high TPS network and is looking forward to be the base architecture going forward for online service providers all over the world.
The CTO of IOST, Terry Wang said in a statement that there had been restrictions in the past for developing apps since few developers had the motivation nor time to learn Ethereum’s Solidity language. IOST wants to change this facilitating blockchain mass adoption.
The Everest Test Network has already been set in a real-world setting. It now runs on many nodes set in cities such as London, Singapore, Tokyo, Mumbai, Montreal, Mumbai, Seoul and Frankfurt.
Everest v1.0 has features already in Everest v0.5 and more. These include:
- It is the first blockchain to provide support to smart contract Domain Name System (DNS) and comes with a Flexible Access Control on improving or removing of contracts
- It has a new design Virtual Machine capable of resolving issues to do with design in EOS and EVM. This network’s speed is 10 times faster than EOS and about 200 times faster than that of Ethereum
- It is the first of its kind to support Multi-version concurrency Control (MVCC) with a storage layer. This ability allows high performance storage with the MVCC Cache
Wang further said that ‘Everest’ v1.0 will operate as the basis of IOST’s mainnet. She further noted that the blockchain industry is still relatively young and that is the reason why many projects are delaying their plans since they lack the experience required to meet their timelines as is required.
She says that her company is happy and proud to have delivered more features and functionalities well within the time set. They have done so well that they have moved their roadmap forward by a whole six months and are in the process of releasing their Mainnet in Q1 2019. She further said that they are extremely excited to release Everest v1.0 which is a significant upgrade to the community.
The company now wants to focus on improving all aspects of the IOST blockchain that will culminate to the release of the company’s mainnet.
For the last three months, IOST has been actively working on expanding their ecosystem and has just a while back established two distinct organizations that will be backed fully by this firm to design the IOST ecosystem