Waterfall Network Advances Towards Mainnet Launch, Announces Final Testnet 8
In Brief
Waterfall Network announced its final Testnet 8, featuring fixes for improved efficiency and a better transaction handling capacity.
Layer 1 decentralized smart contract platform Waterfall Network, announced the release of Testnet 8 to achieve high scalability in decentralized smart contract platforms.
Testnet 8 will be the final testing phase of Waterfall Network before they make it available to everyone — a final check to make sure everything works smoothly.
“The many stages of the testnet have proven integral toward developing a public mainnet that will allow for the most efficient means of creating a protocol with virtually unlimited scalability,” said Sergii Grybniak, Blue Wave CTO and Waterfall Head of Research. “We thank our community for making Waterfall the best layer one architecture it can be and look forward to what we can learn from the final stages of development in Testnet 8.”
According to the announcement, the company has sped up its system, handling 10,000+ transactions per second, and critical fixes were made to improve overall efficiency.
“In this version, the development team changed the state calculation process so no extra work is being done during the creation and verification of the block. There were significant changes to the gas calculation process. Also, the distribution of the block positively influenced the propagation speed. There was also overall refactoring mainly affecting these three stages,” Richard Wang, Chairman of Waterfall Network told Metaverse Post.
“Going forward, the development team is planning to optimize the Merkle tree calculation process and further optimize block propagation. Also, the finalization step will be refactored and optimized. You may expect further improvements in the scalability parameter of the system,” Wang added.
Before launching the Mainnet (which refers to the official, publicly accessible version of the decentralized smart contract platform), the company said that it is important to test the mechanism of implementing the updates without shutting down the network. There are two mechanisms for the same:
- Soft fork – When changes are made to the software, but it does not affect the network’s operations, as everyone interacts according to the same protocol.
- Hard fork – when this mechanism is implemented typically starting from a certain point in time only the software which supports the new rules will be able to operate.
Wang added that the development team is continuously testing the first mechanism but for the second one, the team will be testing it while implementing an important upgrade to the network.
Waterfall’s EVM Compatibility Fuels Smart Contract Growth
Waterfall’s compatibility with the Ethereum Virtual Machine (EVM) is a standout feature, as explained by Richard Wang. EVM is a leading standard for smart contracts, and Waterfall, linked to Ethereum via bridges, serves as a side chain.
“This connectivity enables easy asset movement between Ethereum and Waterfall, allowing users to conduct cost-effective computations on a larger scale. Importantly, applications from Ethereum using EVM, can effortlessly transition to Waterfall, streamlining the development process and fostering growth in the Waterfall decentralized applications ecosystem,” Wang told Metaverse Post.
“The team is very grateful to the community which contributes to the testing of the system. Currently, there are 232 workers (a combination of the block producer for the Coordination and Shard network) controlled by various community members on TestNet7,” said Wang.
According to Waterfall, both first-time users and experienced developers provided valuable feedback. The team is actively integrating various usability features based on this input. This ongoing process aligns with the crucial elements of mass adoption, emphasizing ease of use and convenience.
While the official mainnet launch date remains undisclosed in the provided information, the imminent release of Testnet 8 signals a positive moment in Waterfall Network’s journey towards revolutionizing decentralized smart contract platforms.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
