A Letter From CEO
First of all I would like to wholeheartedly thank all our supporters for their patience, members of the community for their activity and valuable help in beta-testing of the new staking applications. Last but not least, I would like to thank our investors for their continued trust and support.
Before we dive into key points, let me give a little bit of context to the reader, to have a clearer understanding of the total structure.
ASR Cryptotechnology is a privately-held blockchain development company with its headquarters in Prague, Czech Republic. Being established in late 2017, ASR focused on implementing the vision of its founders to create a robust public secure performance-oriented smart contract platform to solve the need of real businesses entering the era of tokenization and moving some of their business processes onto a blockchain.
The company has delivered and deployed a public permissionless blockchain called Aerum, powered by the unique cross-chain delegated proof of stake protocol ATMOS 1.0. Along with the protocol and the blockchain client, ASR deployed a client application available as a webapp, Android and iOS application. It featured unique features such as cross-chain atomic swaps, a fully-integrated wallet name system, token issuance platform, network explorer. Decentralized applications and e-commerce platform were provided with the Blockchain Integration Toolkit software to make integrating with the blockchain an easy task easy for any web developer. A Liquidity Provision decentralized software enabled anyone to support cross-chain atomic swaps and provide liquidity for exchange of assets between Aerum and Ethereum networks.
Fast-forward to the current events
I would like to emphasize several key developments. As announced recently ASR Cryptotechnology is being acquired by the Liechtenstein-based investment company. The main goal is to leverage the technology ASR has developed for Aerum blockchain project to create a global capabilities network for entrepreneurs and enterprises alike, solving some of the key issues they face, including: user onboarding and identification, incentivisation, rewards and affiliate marketing, assets safekeeping and cyber-resilience, accountability and traceability, reputation and trust management between various parties.
Working in a close cooperation with Singkeys for the last 6 months, ASR team has improved on the original Aerum protocol in several key areas: on-chain governance, identity-powered consensus, performance and stability, totally new validator and staking mechanism, new reward protocol, multi-level Governance mechanism, to name a few.
Our team is preparing for the public release of the new Testnet that implements these vital improvements in the first weeks of October 2019. Along with the release of the source code, we will launch the supporting environment, including several Validator nodes, a new Navigator app, a blockchain explorer, demo page, faucet and other required tools.
At the same time, we plan a public release of the new Staking App in a cooperation with Signkeys. This app will allow staking XRM and KEYS tokens and receive a reward in new tokens, that will be powering the governance of the new network once it is released, which is expected in late October-early November 2019. Doing that we want to give a chance to the current token holders of both projects to accumulate new tokens in rewards in a low competition environment before major stakeholders will start participating.
A dedicated staking app for the new network will be released along with the launch of the Mainnet. We will reveal the details of the new network and the organizational structure around it in the coming days. Unlike the Aerum network, this venture won’t be a singular project supported by one entity and a community around it. Opposite to that, the new venture will include several proactive and successful players from the start and will be open to new members, growing at a high pace, adding new businesses, applications and communities onboard, utilizing a single-asset environment based on the new token, while having been able to stake their own tokens and empowering their communities.
Following key technical improvements are marking the new network and the new venture:
Multiple tokens can be staked allowing integrating different communities
The new token is the only token that can be put into security bond to become a Validator
A set of digital products will be offered including: Virtual Masternode, Virtual Delegate, Colocated Delegate, offering users an ability to participate in getting reward for securing and governing the network without having deep technical knowledge and access to an infrastructure to roll-out the servers themselves
Governance will become two-tiered, where Delegates and Masternodes will vote on the proposals, and the Governing Council powered by the DAO-like protocol will implement the voted changes
A token conversion facility will be provided to exchange XRM and KEYS tokens for the new token
Along with existing Delegates, Masternodes are introduced, allowing self-staking and receiving gas block reward for supporting the consensus and securing the network
Unlike Delegate, Masternode won’t be able to have other users staking it
Blocks will be larger improving the protocol performance up to 2000 transactions per second
Full support of Ethereum dApps and smart-contacts will be maintained including upcoming hard forks
All stakers will receive rewards in the new joint token
Security bond for Masternode will be much lower than for the Delegate
Delegates and Masternones will be required to confirm their identity using the new Identity Management protocol integrated with the Governance smart contract and Consensus
Block time will be lowered to 3 seconds to address possible higher latency and network connection speed for Masternodes who don’t use Backbone-connected Data Centers
Our team is very excited about these developments being near completion and a public launch. Our business development activity already has a line of partners and clients waiting to be onboarded into the ecosystem.
While Aerum as a project might become a transient exercise towards the new much larger venture, its legacy will be very valuable for all future developments.
We can’t wait to start the next chapter of our book and would love to do it together with all of you!
Alex Randarevich, CEO, ASR Cryptotechnology