Today, we’re here to tell you that after months of dedication and hard work, it’s time to kick-off testnet and start getting ready for VAIOT Mainnet. The genesis block for VAIOT’s testnet was on 08–12–2021 at 11:42:16 CET.
VAIOT envisions the framework for an interoperable, Cosmos SDK-based, global-oriented testnet focused on bringing the VAIOT 2.0 solutions suite to Cosmos, the metaverse, and far beyond.
The VAIOT Testnet is built on Tendermint and the Cosmos SDK to enable:
- Intelligent Contracts created for Interoperability — a major step towards making VAIOT 2.0 accessible for everyone.
- Inter-Blockchain Communications protocol (IBC) — IBC will provide genuine interoperability across various blockchains, allowing millions of current and future smart contract writers to access the market.
- Preparation of VAIOT ETH to VAIOT Cosmos Bridge — to seamlessly connect your ETH-based $VAI and send them over to Cosmos.
For those who are unaware, the Cosmos SDK is an open-source platform for developing multi-asset public Proof-of-Stake (PoS) blockchains, like the Cosmos Hub, as well as permission Proof-of-Authority (PoA) blockchains. Application-specific blockchains are blockchains that have been created using the Cosmos SDK.
The Cosmos SDK’s purpose is to make it simple for developers to build unique blockchains from the ground up that can interact with existing blockchains. On top of Tendermint, we see the Cosmos SDK as an npm-like framework for building secure blockchain applications. SDK-based blockchains are made up of modular components, the majority of which are open source and freely available to any developer. Anyone may construct a Cosmos SDK module, and integrating pre-built modules is as easy as importing them into your blockchain program. Furthermore, the Cosmos SDK is a capabilities-based system that enables developers to reason more effectively about the security of module interactions.
The Cosmos IBC enables blockchains to communicate with one another. IBC, the Cosmos ecosystem’s backbone, manages transport across multiple sovereign blockchains. This end-to-end, connection-oriented, stateful protocol ensures that communication between heterogeneous blockchains is stable, ordered, and authenticated.
IBC app developers do not need an in-depth understanding of the low-level specifics of clients, connections, and proof verification because of the modular design of the IBC protocol. App developers can obtain a high-level grasp of the IBC protocol by reading this brief overview of the lowest layers of the stack.
That said, with testnet, VAIOT will introduce a simple web app that lets users transfer and use test $VAI. The DApp will also have a dedicated mini wallet built by VAIOT’s developers. All in preparation for Mainnet, on which the final Proof-of-Stake protocol with staking abilities will be enabled for everyone.
VAIOT COO says about this Testnet: We see the open testnet as a necessary step on our way to mainnet launch. Both from a technical and operational standpoint, especially in terms of risk management and quality assurance, it is crucial that the underlying mechanisms are battle-tested and verified ahead of moving to the production environment. This is also why we decided to delay the mainnet launch versus what was planned in 2020 when VAIOT’s Whitepaper and the Roadmap were approved by MFSA. We need to prioritize both quality and security. We feel that this is the right and responsible way to go forward and in the best interest of all VAIOT stakeholders.
Since the very first start of the project, the VAIOT-team has worked towards a testnet with enhancements to performance, provisioning, and scaling. They’ll keep improving the testnets features, such as IBC and interoperability with other Cosmos Hub participants, validators, and of course our community. That said, the VAIOT testnet is expected to run until the end of March, after which Mainnet will be launched. VAIOT welcomes any interested developers and validators to participate in the VAIOT 2.0 evolution.