Counter Stake Weekly Update #4 – Matic Network

1 min read

Update on mainnet development

TL;DR: The Matic team has achieved Code-Complete on all the three major components of the mainnet. Developer & Validator tool developments are also complete.

We’ve been hard at work to achieve the final mainnet launch within Q1. However we are facing greater than anticipated time requirements in the coordination of work required with the 75+ (out of 100+ participating) validators engaged in our Counter Stake program. This has intensified since the launch of our CS-2004 testnet, in which the coordination is taking even longer due to the unprecedented events happening globally. Though, to be fair, even without the ongoing global turmoil our estimate of the time required in terms of validator coordination was a bit too optimistic.

We believe that we will need at least 2-3 weeks longer than our earlier deadline of end of Q1 to complete our testing, but due to the uncertainty of response times with the validator partners, we are factoring in a total buffer of 6 weeks, on or before which the mainnet will be launched.

Our dApp onboarding and developer campaigns are going in full swing and we have multiple exciting things coming just around the corner. Stay tuned.


Highlights of Counter Stake up to now

  • Code-complete achieved for the 3 core components of Matic’s mainnet:
    • Staking & Plasma smart contracts – Complete
    • Heimdall (Proof-of-Stake validation layer) – Complete
    • Bor (Block production layer run by Heimdall committee – validator subset) – Complete
  • Counter Stake incentivised staking testnet event is ongoing
  • Being conducted in 3 stages – Stage 0, 1 and 2
    • Stage 0 (prep for Stage 1 and 2) – Complete
    • Stage 1 is ongoing
    • >75 external validators out of maximum of 100 running the latest testnet iteration
    • ~100 validators invited out of >500 interested participants
    • Testnet has not faced any significant issues up to now
    • Stage 2, the final stage, is expected to start either at the end of March or early April, which will be the final step to our mainnet launch
  • Developer & validator tools
    • Validator & staking management UI –Complete
    • Web wallet – Complete
    • Developer widgets for easy transfer of assets from Ethereum to Matic and vice versa – Complete
    • Matic SDKs in Javascript, Kotlin and Swift – Complete

Lowlights

  • Testing a Layer 2 blockchain such as Matic requires coordination on 3 major layers – contracts on Ethereum, Heimdall (Matic’s validator layer) and Bor (the EVM sidechain)
  • We have resolved quite a few issues very quickly but it’s the coordination time with the validators which is progressing slower than anticipated

Closing Thoughts

We all know that launching a blockchain is very different from traditional systems. We decided to take more time to do thorough testing on the incentivised staking testnet in order to ensure a seamless environment for developers on the final mainnet. 

Let’s keep rocking in the meantime, shall we!


Connect with us

Website | GitHub | Twitter | Telegram | Reddit | YouTube