INT Bi-Weekly Report 2018.7.16–7.27

I. R&D Progress
Current Progress

[Technical improvement progress of INT main chain]

With regard to the previously mentioned business scheme of transaction costs, the progress of the R&D meets the expectations of the team and it has almost been completed. (90%)
Continue to optimize business scheme of INTChain’s block generation, promote the development of INTChain’s block generation speed and block size; （80%）
The R&D team has started the work of fixing bugs that potentially occur during node polling of block generation sequence in extreme cases; (50%)
A stress test was conducted on the wallet transaction, and the analysis of results showed insufficiency in tps. So the R&D team has initially determined the optimization plan and is ready to improve the TX broadcast process; (50%)
The R&D team has begun to work on the refactoring of existing code, which not only enables INT Chain to be better maintained in the later stage, but also allows new developers to participate more smoothly in the development of INTChain, or to make INT Chain more flexible in complex business scenarios; (20%)
[INT wallet and blockchain explorer improvement]

Continue to promote the wallet stress test, and the development of mapping function is underway;
Steadily promote the blockchain explorer (explorer.intchain.io) test and fix a few bugs.
Next step plan

Complete the work for the business scheme of transaction costs;
Continue the optimization of the INTChain block generation scheme;
Continue to execute stress test of wallet transaction, improve the shortcomings in tps and the TX broadcast process, and accelerate the development of the INT wallet mapping function;
Deeper layered refactoring of existing code;
Continue to optimize the meta-chain dBFT consensus algorithm and election strategy of meta nodes;
Test the revised blockchain explorer (explorer.intchain.io) and fix related bugs.
Previous technical progress tracking

Continue to optimize the meta-chain dBFT consensus algorithm and election strategy of meta nodes. (85%)
The R&D team has solved the problem related to the reconnection between meta nodes in the main chain. (100%)
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Q&A Collection

【Will the DHT be used for data storage like BitTorrent or is it strictly as a node table?】

Yes，DHT is together with node, and is used as data storage, and can store related node table as well.

【When is the remaining 680 million unlocked? How much is the team holding?】

There are detailed explanations about the Token’s distribution and operation spending planning in this financial report. The team holds 10% (100 million Token). Due to the existence of uncontrollable factors, INT may make appropriate adjustments and publicize it to the public at the first time based on the precondition of ensuring the project safety and normal development.

【Can you explain more about INT’s new consensus algorithm?】

INT new chain adopt the dBFT+DPoS consensus, which is a huge advance for DPoS. On one hand, it oriented to differentiation application in the IoT more practically, on the other hand helping to select the “supernodes” in a stable and efficient way to realize service availability.

II. Business Cooperation
Current Progress

[Continue cooperation with a state-owned enterprise project in Zhejiang]

INT has completed the smart gateway project agreement with the state-owned enterprise in Zhejiang and determined the product appearance plan and product quotation. After several in-depth discussions both parties confirmed the product operation and marketing approaches. But whether to add sales channels or not still needs further confirmation.

[Cooperate with the smart site project]

After discussions and communications, the INT team has successfully signed a contract with the smart site project party. At present, the cooperation is proceeding smoothly and the construction has started.

Next step plan

[Confirming the software and hardware development plan of telecom smart gateway project]

In order to smoothly promote the following cooperation, INT plans to have an in-depth communication with Telecom concerning the software and hardware development plan of the intelligent gateway project in the near future to speed up the layout of INT in East China.

[Collect technologies and application scenarios related to the smart site]

Due to a number of technologies involved in the smart site project INT will start preparations for the collection and R&D of related technologies, hoping to achieve application of the smart site project earlier with the technologies.

III. Activities and Operations
Current Progress

[Attend the fifth Blockchain night]

On July 19, 2018, the fifth Blockchain night was successfully concluded in Düsseldorf hosted by the European EPC Competence Center (EECC), the leader of the European blockchain market, attracting great attention of many well-known institutions and investors. Head of INT China Yin Xiangyu and Chief Business Officer Chen Feier were invited to attend the meeting together. As the first speaker of a blockchain meeting, Mr. Yin gave a presentation themed Make a Different World to a crowd of scholars and experts from the global blockchain field including Dr. Skwarek, Chairman of Iso/Tc 307.

From left to right in order: Head of INT China Yin Xiangyu, Founder of EECC Conrad von Bonin, Chief Business Officer Chen Feier

INT team and the meeting organizer

[Attend the China-Europe blockchain meeting]

On July 20th, 2018, Yin Xiangyu, head of INT China, and Chen Feier, Chief Business Officer, were invited to attend the China-Europe blockchain meeting in France. The meeting was hosted by imlink, a blockchain consulting company based in France. Imlink hopes to introduce Chinese high value blockchain project to France. To that end, the company invited Chinese projects including INT, SEC and ELA and European community such as Blockchain Assets and Crytp’s Cool. During the meeting, Mr. Yin gave a speech on the theme of “Exploration of INT under the development of blockchain”, which was highly praised by the audience.

Mr Yin delivered the speech

Site of China-Europe blockchain meeting

[Attend the Shenzhen blockchain brand global conference]

On July 22nd INT delegation attended the “ Shenzhen blockchain brand global conference” hosted by Lido Capital and JCG. During the meeting, as one of the Chinese high-quality blockchain projects in the IoT in China, INT had an in-depth discussion with a few distinguished guests on how the blockchain technology provide services through the decentralized platforms.

Site of the conference

INT representatives

Next step plan

[INT was invited to attend the Blockchain Way show]

Blockchain Way show, organized by Kg.com and BTC123 and co-organized by INT, will take place on July 29th in Wenzhou. A number of distinguished guests will be present at the event. INT Chief Business Officer Chen Feier is invited as a guest of honor to the event to share her experience and unique insights accumulated in the blockchain industry with the audience.

IV. Community Updates

[Successfully completed the INT survey]

In order to understand the composition of overseas communities and the needs of the community more accurately, INT launched the Overseas Investor Survey on July 17th and successfully concluded on July 22. According to the survey, more than 90% of overseas fans are from developed countries in Europe. They not only possess economic strength, but also have a fundamental understanding of investment and blockchain. INT will award some participants to appreciate the fans for participation and support.

[New Overseas Investor Community]

With an aim to construct a more comprehensive community ecology, INT has recently redefined a group as the investor community (https://t.me/INTchainofficialcandy), aiming to set up a more professional investment communication platform for overseas communities. Community members are welcomed to actively share their market opinions and insights in the channel. The official channel will focus on the project itself e.g. technology, applications, project differentiation and other contents.

[Prepare for the INT opinion leader fan meeting]

INT is actively preparing for the domestic opinion leader fan meeting for better interaction with fans. It is expected to communicate with the active and loyal fans, share the experience of community construction and adopt fans’ suggestions for INT to better manage and promote the development of the INT community. At present, the fans have received the first souvenirs sent by INT and shared them in their communities respectively.