Colosseum Testnet Schedule and Other Announcements
Hello. This is FirmaChain.
Per our previous announcement on the FirmaChain team finalizing the list of Colosseum Validator participants, we’ve notified the relevant details to all of the teams(individuals).
The participants that have replied to our e-mail were provided with a Discord channel link where agendas can be discussed between the FirmaChain team and the Validators. Now we are waiting for the initiation of the test.
Looking at the geographical distribution of the participants, teams from Russia occupy the top of the list, followed by teams from France, Germany, the Philippines etc. Thanks to the interest of all our applicants, we were able to form a pool of Validators consisting of teams from all over the world.
Since we have finalized the list of Validator participants and other internal agendas including the test schedule, reward and other test related issues, we will disclose the details in this posting.
The FirmaChain team is currently finalizing the set-up of the servers for the Colosseum testnet and is going through a number of final tests to double check the settings for the tests.
Following is the expected schedule of the test and other relevant information regarding the Colosseum testnet phase.
▶ Colosseum Testnet Schedule
- Launch : November 25, 2021, 19:00 (UTC+8)
- Validator Participation : After November 25, 202, 20:00 (UTC+8)
- Close : December 29, 2021, 19:00 (UTC+8)
▶ Reward Distribution
A total of 1,000,000 FCT will be handed out to the participants as reward.
Out of a total of 1,000,000 FCT (MainNet), the participants will be receiving 500,000 FCT as base reward. The test will last for 35 days and the remaining 500,000 FCT will be handed out based on a “Bounty Scheme” in which factors such as total bug report count and other activities contributing to the stability enhancement of the FirmaChain network will be evaluated as a whole.
Per bug reports, once notified of such an issue, the specific bug reported must be re-visualized and reconducted by the FirmaChain team. The reward for the reported bug will be handed out on a first-come-first-serve basis. Depending on the importance of the reported bug, additional reward will be distributed, proportionately. The FirmaChain team will also consider feature proposals that can be added to the network. Any such proposals submitted will be evaluated by the team to determine whether an additional reward is necessary.
Finally, the participants actively advertising their teams’ participation as FirmaChain’s Colosseum Validator will be rewarded. Such additional marketing activities must be submitted to the FirmaChain team via e-mail for review.
▶Details on the Testnet
The details of the test can be summarized as follows.
Firstly, a Firma-js program will be distributed to all Validator participants. All participants, upon receiving the aforementioned program, must conduct a stress-test based on the given program.
Secondly, the FirmaChain team will periodically send out transactions to all participants.
Finally, Validators can register “Proposals” on possible system revisions, and the FirmaChain team will review and apply such revisions accordingly.
We will do our best, along with our esteemed Validator participants, to successfully accomplish the Augustus hardfork by the end of this year.
Thank you.
For more information about FirmaChain, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FirmaChain team, please contact us at info@firmachain.org.
About FirmaChain
FirmaChain seeks to replace all written contracts governing social and legal issues by using an electronic contract platform based on FirmaChain’s data blockchain. Since traditional written and electronic documents are easy to forge, and the verification procedures are complicated, blockchain’s decentralization is used to solve the problem. FirmaChain can check the contract’s validity through its hash function, which can be verified in an independent node. This verification process can be used as a means to resolve legal disputes. Blockchain is an effective technology that eliminates the risk of forgery of such documents, and it is applied to the first DApp (decentralized application) of FirmaChain — DONUE.
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