Announcing TESTNET
Today, we are launching our TESTNET and getting closer to launching the MAINNET network.
Our current TESTNET features the following novel technologies:
- Highly scalable blockchain
- Private and Verifiable Smart Contracts: secure smart contracts on which you can develop Cryptographically Secure Financial Instruments
- Zero-Knowledge Proof-of-Identity: leading to the most profitable blockchain to mine
- A mobile wallet authenticating with National Identity Cards and/or Electronic Passports: address anyone by their National Identifiers on the biggest identity network on the world
In order to get some perspective on the reach of our blockchain, we should compare it with other payment networks:
- Almost 2x the number of potential users of Libra from Facebook (2.41 billion)
- 4x the number of VISA credit cards (1124MM)
- 15x the number of Paypal users (286MM)
- 10000x the number of Bitcoin active addresses (450K), 100x the number of Bitcoin wallets (42MM) and 160x the number of Bitcoin wallets with any balance (28MM): at current growth rates (11.5M new wallets/year), it would take >300 years to achieve the same degree of diffusion.
- 14000x the number of Ethereum active addresses (320K) and 56x the number addresses of Ethereum wallets (80MM)
The biggest problem with public, permissionless blockchains was never scalability or privacy: it is inclusiveness, a problem directly related to digital identity.
Our integration with National Identity Cards and Electronic Passports solves the chicken-and-egg problem of any payment network: a user will find a payment network useful if he can transfer to a very large number of users, but said users would only have joined said payment network if there were many other users from the very beginning. By accepting everyone with a trusted cryptographic identifier, we guarantee the largest possible number of addressable users (more than any other payment network).