Dear community,
Because we wish above all to share SGAT adventure with you, from now on, we will be sending every two weeks a newsletter summarizing the various advancements on the development of the project.
What have we done since the project was launched and where do we stand now?
First step of the project was the creation of SGAT blockchain, starting from the code of Monero blockchain, which is also based on the CryptoNote protocol.
Just a reminder, CryptoNote is the protocol/technology running Monero blockchain for example, while CryptoNight is the hash algorithm used by CryptoNote (the way data is cut, exchanged and verified). For Bitcoin it is the algorithm SHA256, Scrypt for Litecoin, X11 for Dash or Ethhash/Dagger-hashimoto for Ethereum.
In order to fully control our blockchain and our technology, we decided not to simply fork the Monero project.
But what is a fork?
A fork or branch is the fact of taking two directions, as its name indicates. In fact, it is a new software created from the source code of the existing software. Two main reasons can give origin to a fork:
a divergence of views and objectives related to the project by the developers ;
a personal conflict within the company that created the software.
Moreover, since making such modifications requires software’s rights to allow it, forks are generally performed on free software, which is the case of the majority of crypto-currencies.
Phase 1: blockchain testnet and mainnet SGAT
So we took the code from Monero blockchain by creating a copy from their Github (the site where the code is hosted) and then reworked it from the start to create our own genesis block (block number 0) which was our first big challenge.
Indeed, we had to recreate this block in order to take into account the specific parameters of our blockchain. This allowed us, for example, to increase the maximum emission of units, the emission speed of the blocks or its emission curve which would not have been possible with a simple Monero fork. We also had to retake all the “commits” (modifications, updates or editions of the code) made by the developers who contributed to the Monero project since the beginning (from 150 to 200 approximately…), in order to analyse and understand them, which of course took us weeks! J
Once the code was reworked, we then started the test phases on the blockchain mining, transfers and exchanges between portfolios on a test blockchain (testnet). Once this step was completed, we started SGAT blockchain (mainnet) by launching the first nodes (computers running the blockchain), but privately for the moment.
This allows us to exclusively mine tokens as part of the ICO, to prepare the various users’ wallets, but also to work on synchronization and compatibility with our web application. Once the ICO finished, we will reveal the IP addresses of the seeds (i.e. the first machines that started our blockchain) so that the community can connect to our blockchain, create wallets, or participate in the confirmation of transactions through the mining via the daemon software (software running background processes and allowing to participate in the mining and synchronize the portfolio mining) that we will publish.
Phase 2: SGAT Explorer
We then developed SGAT Explorer, the search and consultation website for our blockchain. It allows anyone to consult the complete, and in real time, history of every transactions performed on our blockchain from the genesis block (mining transactions, tokens emission and rewards, hashrate, etc…).
We are currently performing all unit and functional tests on the Explorer as well as fully analyzing the code. These tests simulate all the possible actions of tool, from A to Z, so that the Explorer is as stable as possible and to ensure the proper operation of our server, of the various controllers and the API routes.
This one should be online this week!
Phase 3 and beyond: what we’re gonna do!
→ connect the webapp with our platform authentication system ;
→ synchronize and centralize all transfers, rewards (bounty program and partners) within the web application;
→ then start its deployment on mobile, through SGAT application.
At the same time, we are constantly working on correcting various bugs on the website, whether in terms of translations or transaction management and of the whole platform.
Have a great week !
SGAT Team