The Fortuna Public Chain and Web Wallet Testnet are Now Live!
The testnet of Fortuna’s Public chain and the first version of its Web wallet are now live starting Jun 25th, 2018, which means that Fortuna has taken the first step on the road to becoming the world’s №1 public blockchain in finance!FORTUNA (www.fota.io), is a distributed public blockchain for financial applications which aims to render top-notch user experience.
Its first distributed financial application is aimed at market voids in creating market efficiency within the OTC derivatives market:
NO.1 Fully decentralized derivatives trading platform
NO.2 No financial threshold and qualification threshold
NO.3 No need for any transaction fees
Former chairman of Australian SFC, former senior officers of China FinancialFutures Exchange has regarded Fortuna and what it will accomplish as a surely unique innovation at an unprecedented worldwide scale.
Fortuna, as the first financial OTC derivatives blockchain project of Yale Alumni, has an outstanding core team. Its core members are from Yale University, Zhejiang University, Oxford, and University of Chicago having worked on Wall Street and tech companies like Microsoft and Alibaba.
Also, Fortuna has built strong partnerships with Zhejiang University and established its first school-level blockchain joint research center. It is based in Hangzhou, the №1 city for blockchain in China, and thus conducts all-round cooperation and exploration.
Zhejiang University Partnership
After publication of the whitepaper in 2017, our development team immediately began research and development with high expectation from numerous supporters. We have pressed ahead in accordance with the roadmap, ahead of schedule, and will make further refinements before Mainnet 1.0 is live in Q3.
Introduction to the Testnet of Fortuna’s Public Chain
The testnet now supports functions, such as, creating wallets, making transfers/deposits, registering as a delegate, voting, block/transaction queries, etc. The transfer, delegate registration and voting functions require certain amount of fees.
FORTUNA is based on DPOSA consensus mechanism, which allows common users to register and receive votes. When registering as a delegate, you should lock 100,000 FOTA out of your holdings. We’ll recount the poll after the block was delivered each round and those delegates who rank top will be entitled to deliver the block.
As long as the delegate ranks high in the voting list, he/she will be entitled to deliver the block. Running nodes of delegates can deliver blocks smoothly by modifying corresponding system configuration. When delivering blocks, delegates will be able to earn rewards (0.9 FOTA per block) and transaction fees for certain blocks.
If you have a balance after the wallet was created, then you’ll be able to vote for any delegate or withdraw your previous votes. Each account will be entitled to make 30 votes, the weight of each vote refers to the balance of voting account. And the votes obtained by delegates will be counted according to their weight.
Kind reminders: The web wallet is just a testnet, you can log in with mnemonic phase.
All the FOTA tokens we’ve provided here are not REAL, and they can’t be used in real world. Never try to transfer your FOTA tokens into testnet. We’ll do mapping for your tokens when our mainnet is officially live. This is just for testing.
During the mainnet testing phase, we welcome everyone to submit their unique wallet addresses to Fortuna official for receiving testing tokens. And then you can experience transfer function and take part in voting and creating nodes. All feedbacks and suggestions are welcomed. We’ll offer handsome awards for those who provide constructive ones.
Operation Manual of the Beta Version of Mainnet
The current version was developed with the use of Java language. Therefore, you have to build a Java Runtime Environment before running local nodes.
Install Java environment：JDK download address:http://www.oracle.com/technetwork/java/javase/downloads/index.htmlInstall JDK and configure corresponding environment variables after you’ve downloaded it. And you can check whether it has been successfully installed with the use of Java -version command in the terminal.Download node resources:Currently, nodes can be downloaded in zip files and then activated with corresponding command after compression.
Linux&MacOS：You’re able to activate nodes by running./run script after decompression. Then log in the wallet with http://localhost:8888/index.html#/login. When running nodes, you can end the process or restart the application with stop.sh and restart.sh, respectively. You can also clean up the data base and restart the nodes with reboot.sh script if there’s any failure running the system. It will automatically connect acquiescent configuration nodes when you first start the system. In order to build an independent environment, then you need to modify corresponding IP address configuration.
While for Windows system, you have to manually run command runtime jar package related to Java after the installment of JDK.At present, our system only support node with public network IP address and corresponding intranet. And intercommunication among nodes is not available temporarily. We can change acquiescent connected nodes by modifying the IP configuration of fortuna-config.json. Also, in order to make the intercommunication between different systems more secure, you have to highlight the public IP address in the configuration file when there’s inconformity between internal and public IP addresses. If you want to unlock the block delivering function of each node, please configure mnemonic phases of corresponding delegates in the fortuna-config.json. Then restart the node, if the delegate ranks high on the systematic voting list, he/she will be given the right to deliver blocks and win certain rewards.
Introduction to the First Version of Fortuna’s Web Wallet
Apart from the testnet, the web version wallet is also live starting from Jun 25th. Click and experience our brand-new wallet here: http://testnet.fota.io
The FOTA wallet was initially scheduled for release in Q3, yet we have made significant progress and decided to give the community an early look.
The first version of Web wallet, with the adoption of high-standard encryption protocol,high-level of security settings, not only support functions, such as , depositing, making transfers, recharging, registering as a delegate and voting, but also in favor of block browser function. Users can search the latest produced blocks with the use of the wallet. Similarly, he/she can have access to the detailed info of corresponding blocks and transaction through block or trading hash. When logging in the wallet, those delegate nodes which deliver blocks correspondingly can check their real-time block delivering rewards, block delivering rates and polling.
The mainnet wallet is still in trial. If you’ve got any problems when using the testnet wallet, feel free to submit your feedback through bbs.fota.io . Also, those who make great contributions will be rewarded with the approval of our development team!
Additionally, FOTA, the token of Fortuna will be listed on two new exchanges, which will bring the total number of exchanges to eleven.
In order to develop and bring blockchain applications into use on a large scale, we must build an underlying public chain that is solid, moderate and efficient first. The publication of the testnet of Fortuna’s public chain, all together with the Web wallet, are the ground-building steps to fulfill its decentralized ecological blueprint. It also means that Fortuna’s development team is ready for developing diverse distributed financial applications.
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Website: www.fota.io
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