To round out the year, we asked our Block Explorer writers to tell us what they’re most excited about for blockchain and crypto in 2019. In this piece, Delton Rhodes explains the potentially ground-breaking mainnet launches of Zilliqa, IOSToken, and Filecoin.
For both the worst performing and best performing cryptocurrencies in 2018, the market has been bear and bleak. Despite these results, there has been a lot of technical progress from several of the top projects in this space throughout the past year.
Several mainnet launches are planned for Q1 and Q2. Here are three notable mainnets that I’m looking forward to seeing launch in 2019, listed in order of anticipated/scheduled launch dates.
Zilliqa Mainnet, Scheduled for January 31, 2019
Zilliqa’s mainnet is highly anticipated because it marks one of the first projects to put its attention towards sharding technology – an experimental method of increasing blockchain scalability.
For the most part, sharding was still in the research and development phase before Zilliqa began to push implementation forward. Sure, this technology still needs vast improvements. However, people also want to see what sharding is capable of achieving now.
Zilliqa had originally scheduled its mainnet for Q3 2018, but decided to push it back until the end of January 31, 2019. There are two sides on whether this was the correct move. For some, a delay should be avoided at all costs as “something is better than nothing”. For others, though, it’s better to have a high-quality release over one that is ridden with errors.
However you view such a delay, it’s important to ask why it happened. According to a statement from co-founder Amrit Kumar via the project’s official Telegram group, the team still needed to conduct security audits, get ready for the token swap, integrate with wallets, develop toolchains, and add more dapps to the ecosystem.
Ultimately, the main thing to examine is what the project accomplishes once the tech is live and ready for the public to use.
According to the project website, the Zilliqa blockchain is already able to handle 2,828 transactions per second (tps). This would be a significant improvement over Bitcoin (7 tps) and Ethereum 15-25 tps). If Zilliqa’s mainnet is successful, it could mean more dapps and technologies built on the Zilliqa blockchain vs. others.
If it’s unsuccessful, though, this might impact how both this project and others in the industry try to implement sharding solutions.
IOStoken Mainnet Scheduled for February 25, 2019
The ultimate goal of IOSToken is to create a blockchain platform with enough scalability to build a “decentralized economy.”
IOSToken aims to create a foundation for the future of the ‘internet of services’. This could include things like decentralized virtual goods and services markets, cloud computing, file storage, e-commerce, online gaming, gambling, prediction markets, virtual assistant service, online advertising and more.
On December 20, 2018, IOStoken launched its testnet called ‘Everest’. On February 25, 2019, the project plans to release the full mainnet.
What makes this project’s mainnet something to look forward to in 2019? First, like Zilliqa, IOStoken will be implementing a sharding solution. With the two mainnets launching so close together, it will be interesting to compare the results. One tweet from March 2018 stated that IOStoken’s consensus protocol had already achieved 8,000 tps in a test environment.
We have finished the deployment of our private testnet as planned. Our PoB consensus protocol has achieved roughly 8,000 TPS under the test environment. The public testnet is on schedule to be released at the end of Q2 2018. $iost #iostken #iost pic.twitter.com/B7pxU0qXmF
— IOStoken (@IOStoken) March 29, 2018
The tweet also stated that the testnet would launch in Q2 2018, so there was a pretty significant delay (similar to Zilliqa). Have there been any significant updates in IOStoken scalability since then? What’s possible on the mainnet? These are just two of the main questions that need to be answered.
IOStoken also introduces a lot of new scalability solutions that modify existing theories and concepts, putting them all into a real-world blockchain. For example, TransEpoch serves as the node-to-shard transition assignment protocol. Proof-of-Believability is a consensus protocol that aims to improve upon Proof-of-Work by assigning nodes a believability score as well as grouping nodes into two categories: believable and normal. Micro State Blocks (MSBs) ensure the accuracy of validation without having to check the whole blockchain.
Filecoin Mainnet, Anticipated Launch in Mid-2019
Back in September 2017, fundraising for Filecoin broke the all-time record for blockchain projects. With $257 million raised, mostly within the span of one month, the project has big ambitions. Even some of the world’s largest investment groups backed Filecoin. The project collected $52 million in a presale that included Sequoia Capital, Andreessen Horowitz and Union Square Ventures, among others.
The concept of a blockchain-based data storage and data processing network isn’t exclusive to Filecoin. Similar projects like Storj (STORJ) Siacoin (SC), iExec (RLC), Golem (GNT), and MaidSafe (MAID) are also competing in this space.
Filecoin has made progress, as seen with three demo videos published in August 2018. The first shows the go-filecoin command-line tool and live filecoin nodes running on a testnet. The second displays a network visualization and block explorer tool. The final one is an overview of the storage market and provides info on the roles of miners and clients. As of the end of Q2 2018, the project had completed the majority of its private codebase goals and planned to launch a public codebase as well as community forums.
It’s the end of 2018, and Filecoin hasn’t delivered too many technical breakthroughs that are accessible to the public. This, however, could change with the release of its mainnet scheduled tentatively for sometime in mid-2019.
Also, this mainnet poses important questions both for Filecoin specifically as well as other projects with similar amounts of available capital. Should we expect more results in a shorter amount of time from a project that raised so much? If so, how should it compare to other projects with fewer funds and resources?
This isn’t an exact science, especially due to the fact that a lot of infrastructure is just now being developed. In addition, like most other infrastructure projects, many theoretical concepts are finally being tested thoroughly and applied for the first time. Still, most people who follow blockchain are probably also pondering these questions.
This list certainly doesn’t serve as a be-all and end-all for mainnets launching in 2019. There are likely to be several other game-changing mainnet releases as well as significant updates from blockchain projects that already have mainnets. From a blockchain infrastructure perspective, though, the three projects mentioned above are definitely ones to watch out for throughout this coming year.
Can they change the current hierarchy of blockchain and crypto? Will they bring innovative solutions that people will actually want to use? Although technical capabilities are an essential component to success of any project, it’ll also be interesting to keep up with if (and to what extent) user adoption follows.