Iron Fish is a Level 1 blockchain! August "Monthly Pulse"

dimonbuton (36)in #ironfishart • 2 years ago

Hello friends, today we have a squeeze of insider information for those who are actively involved in the life of the project!

Let me remind you what this project is!

Iron Fish is a Level 1 blockchain that provides the strongest privacy guarantees for every single transaction. Using zero-knowledge proofs (zk-SNARKs) and the most advanced encryption industry standards. The project gives you full control over the details of the transaction through account view keys or transaction decryption keys; uses Proof-of-Work (PoW) that is censorship resistant and accessible to everyone, regardless of location, identity, or citizenship.

In the Series A round and the seed round, the project raised $32.9M from funds such as Sequoia, Electric Capital, Andreessen Horowitz, MetaStable Capital and others. Also marked by investments in Near Protocol and Agoric. Private investor Do Kwon is one of the founders of the Terra blockchain.

And here is my insider record of the AMA session for you:

Welcome to our monthly August "Monthly Pulse" Iron Fish

the next update is tentatively scheduled for September 9th at 12PM PST!

Elena:

The testnet is going well, the team is making great efforts to ensure that everything subsequently works correctly.

-The team focused on implementing additional metrics to track the status within the network.

– At the moment, there are 5,800 nodes in the network, at some point this number was 11,000

For comparison:

In the Bitcoin network - 10-15 thousand nodes, in the Ethereum network from 3 to 4 thousand, which is the largest indicator for Layer 1 test networks.

When we had 11,000 nodes, we also reached our all-time high of over 300,000 transactions per day.

Data on this, as well as on the number of transactions in the network, can always be found at https://explorer.ironfish.network/;

The project roadmap has been updated: https://ironfish.network/roadmap.

— We are currently looking for back-end and front-end developers, so if you want to work with us, let us know. A list of open positions can be found here: https://ironfish.network/careers/#open-positions.

Daniel:

The latest update added support for sending transaction hashes in addition to full transactions,

This will increase network bandwidth.

Looking at the telemetry data, this has reduced the load on the network by about 80%, so I strongly recommend that everyone upgrade, because. while the number of updated nodes is only about 50%.

Hughy/Mat:

There is a new command for downloading a snapshot: chain:download, which will download the current version of the snapshot of the blockchain database to speed up synchronization.
If someone is not in the know, a branch 🟡wallet-2-testers has appeared, where we conduct a general test of our Wallet 2.0.

— There is another project that I am working on with Rohan and Elena — MASP (Multi-asset support). So far, we are in the exploratory phase, but we are making very big progress in this.

Derek:

Let's talk about Gossip 2.0 again: the main improvement, perhaps, is that you no longer have to download transactions from the block if they are in the mempool, and since transactions make up ≈90% of the block size, this will greatly simplify the interaction with the blockchain.

“Another thing we're working on right now is reducing the mempool size by filtering out transactions that have costs already on-chain.
— We want to speed up the consideration of community PRs.

Lawrence:

*Lawrence quickly went through all the problems that the team is currently solving: lack of memory, node nullifier, the problem with deposits for some people - all the changes are in the GitHub of the project.

AdiDev:

— Pay attention to this post: https://discord.com/channels/771503434028941353/816795744680935445/1004841359666061323. If the level of technical skills allows you to interact with the project at the level of contributions to the code, then this is a great opportunity to earn points.