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Enterprise blockchain platform Insolar is launching its personal mainnet, debuting its native Insolar Coin (XNS) to interchange its previously used Ethereum-based token INS.
After efficiently piloting the testnet in 2019, Insolar will probably be rolling out the business launch of Insolar MainNet on Feb. 3, the agency stated in a press launch shared with Cointelegraph.
INS/XNS token swap is straight away obtainable
In line with the agency, holders of the Ethereum-based ERC-20 token INS will be capable of swap their tokens for XNS on the primary day of the mainnet launch. Insolar customers will be capable of retailer their XNS tokens on Insolar’s new native cryptocurrency pockets, Insolar Pockets, the agency famous.
As a part of the token swap, some crypto exchanges announced that they are going to be quickly closing INS deposit and withdrawal companies to be able to help the token swap.
As detailed within the Insolar Financial Paper issued in June 2019, the XNS token serves as a medium of trade and a retailer of worth and can be utilized for funds and staking. Fueled by XNS token, the Insolar MainNet is the first public community primarily based on the Insolar Blockchain Platform that’s designed to construct a blockchain-driven utility market.
Insolar mainnet claims to help 19,000 transactions per second
Based in 2017 as INS Ecosystem, the mission initially was an Ethereum-based app connecting shopper items and clients. As of June 2019, Insolar was positioning itself as a “firm constructing a horizontally scalable hybrid blockchain platform with interoperability between private and non-private networks.”
The launch of Insolar Mainnet comes after the corporate efficiently launched its testnet final yr. In March 2019, Insolar launched an up to date iteration of the testnet that reportedly demonstrated a throughput of over 19,000 transactions per second. As a way to guarantee a steady mainnet launch, Insolar partnered with main world cybersecurity firm Kaspersky Lab for an in depth testing and code audit.
Moreover, Insolar has been collaborating with main world tech platforms corresponding to tech big Microsoft and laptop know-how company Oracle. Different purported companions embrace the Swiss Innovation Promotion Company, Innosuisse, in addition to the UK Vitality Innovation Centre and the German Vitality Company.
At the side of the mainnet launch, Insolar additionally introduced that will probably be providing bounties via bug bounty platform HackerOne to be able to enhance the community’s safety. Insolar’s mainnet bug bounty program will initially solely be obtainable to a choose group of specialists earlier than a public rollout.
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