Taraxa, a public blockchain based in Silicon Valley that focuses on audit tracking of off-chain transactions to infer reputation and social graphs, has announced the launch of its mainnet network.
Taraxa is a public blockchain that focuses on audit tracking of off-chain transactions to infer reputation and social graphs. The long-awaited debut comes after the successful deployment of the Californicum testnet, which saw over 254 million TARA tokens staked in the pre-staking campaign, a milestone in the cryptocurrency community.
A large number of user and node operator incentives and rewards will be available on the mainnet candidate, as well as staking delegation and other advanced features.
Since 2018, the Taraxa team has been hard at work establishing the network and validating the product with industry players from a variety of different sectors, as well as obtaining some high-profile cryptocurrency collaborations.
Investors such as Fenbushi Capital, SNZ, and Youbi Capital have lent their support to them. Over 600 consensus nodes are currently present on the testnet network, and the number of nodes is increasing every week.
With a target of 50,000 TPS, the network has achieved 5,000 TPS with block inclusion latency of less than one second.
Taraxa is ready for the year 2022, with a slew of exciting applications, including evaluating reputation signals for social tokens and non-fungible tokens, as well as establishing the trustworthiness of informal commercial transactions and machine-generated data.
“In order to accomplish this, Taraxa’s aim is to convert 80 percent of the world’s discarded data – unauthorized transactions – into trustworthy and relevant reputation signals. This has a wide range of possible applications in both the “new” metaverse and the “old” offline world, according to the researchers. With the introduction of our mainnet candidate, we’ve made significant strides in that regard “Taraxa co-founder Steven Pu, a Stanford graduate, made the following statement
Taraxa has announced the launch of a public mainnet with staking delegation that would be focused on building metaverse reputation.
The mainnet candidate will operate as a completely decentralized network with the following primary goals:
Incorporate actual stakeholder-based consensus into the community’s operations.
The security, dependability, and performance of the network should all be improved.
ETH can be used to convert TARA tokens into their original TARA token form.
For all stakers and node operators on the mainnet candidate, staking will continue to generate a constant 20 percent annualized staking yield, but staked tokens will now be delegated to active nodes, which will allow them to earn yields in addition to staking into the contract.
Nodes will need to have a staking delegation in order to participate in consensus: the team will first deploy nine consensus nodes, each of which will have a stake delegation.
As the number of staking participants increases, the number of consensus nodes in the network will increase. The following page contains additional information on how staking delegation works:
Following that will be enhanced network performance and the development of metaverse applications.
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