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Darwinia Network

Darwinia Network

Web3 Builders: Darwinia

Web3 Builders: Darwinia

Darwinia Network is a cross-chain network built on Polkadot and Substrate to enable the transfer of assets and value across Blockchain. The Network mainly focuses on NFTs and gaming assets.[13]

Overview

DARWINIA NETWORK - RING AND KTON - FUTURE POTENTIAL

DARWINIA NETWORK - RING AND KTON - FUTURE POTENTIAL

Darwinia Network

Darwinia Network

Based in Singapore, Itering is a blockchain company that runs the Darwinia Network project. The Itering team focuses largely on developing Blockchain infrastructure with cross-chain capabilities, especially in NFTs and gaming.

[3]

Filtering received grants from the Web3 Foundation and Polkadot, which allowed them to launch Darwinia in 2019. It won the Substrate Builders Program. Furthermore, Darwinia garnered partnerships with MakerDAO, DDEX, and Parity.[3]

Darwinia uses the Interstellar Product Coding standard, which tags and assigns a single identifier ID to unique objects existing on different blockchains.

The governance token is KTON, but the RING token is used for validation and payment.[14][15]

The Darwinia Network is powered by a Proof-of-Stake (POS) algorithm. Furthermore, it features layered networks, an application-oriented design, and places a special focus on user experience.[3]

Darwinia PoC-2 Testnet, code name ‘Crayfish’, was released by the developer team and became available for the community in Sep 3, 2019.

Darwinia Webwallet was also released on September 3.[7] Subscan.io Blockchain Explorer, the first community project of Darwinia Network, was released in beta version on September 11, 2019, and accessed into Darwinia PoC-2 Testnet.

Subscan.io accessed into Kusama network on September 19 and then continued to access more Substrate-based blockchain network.[7]

Starting from July 2019, Darwinia successively launched four testnets:

  • Darwinia PoC-1 Testnet: Trilobita (2019–07)

  • Darwinia PoC-2 Testnet: CrayFish (2019–09)

  • Darwinia PoC-3 Testnet: IceFrog (2019–12)

  • Darwinia PoC-4 Testnet: Crab (2020-02)

Darwinia Crab Network’s token cRING was listed on Hoo.com at 17:00 (UTC + 8) on June 17, 2020.

cRING/USDT trading pair was listed, deposit and withdrawal were opened.[11]

Crab Network

Darwinia launched the Crab Network in May 11, 2020.

Crab is a Canary Network for Darwinia.

The positioning of Crab is similar to Polkadot's Kusama Network.[9] In order to allow more users/developers to participate in the operation of the Crab, Darwinia decided to launch the Crab Node Grand Prix: Darwinia Project Moon. For this Grand Prix, Darwinia provided 100 Million cRING rewards. All rewards were exchanged for the mainnet RING after the Darwinia Mainnet launched at the ratio of 100:1.[9]

The 15-day Darwinia Crab Node Grand Prix ended at 10:00 AM on June 11.[10]

Darwinia Assets

Darwinia houses two tokens in its chain: RING and KTON.

However, they are technically not in a peer relationship since KTON is merely a byproduct of RING.

While these tokens are native to the Darwinia network, some RINGs and KTONs also run on the Ethereum and TRON blockchains as ERC-20 and TRC-20 tokens, respectively.[3]

RING

RING is Darwinia's main utility token and is used to facilitate activities on the network.

It is primarily utilized as gas payment for transactions, contract executions, network bandwidth, storage, etc. across the system.

RING's economic model is inflationary, with new tokens minted and allocated via a staking mechanism.[3]

KTON

KTON is technically a derivative of RING tokens.

Whenever RING is staked for 3-36 months, KTONs are generated as rewards and compensation for liquidity loss.

This encourages users to hodl and commit to long-term lock periods.[3]

The KTON each staker receives is proportional to the RING staked, as well as its duration.

[3]

The KTON token is designed based on the theory that “future commitment”, or how long one promises to hold a token in the future, should be the best practice when operating under a Proof-of-Stake mechanism. Since KTON can only be created when RING is locked, its initial supply is apparently zero. [3]

cRING and cKTON

The cRING and cKTON tokens serve as representations of RING and KTOKEN on the Darwinia Crab Network, a testnet for the main chain.

These two tokens will have the same parameters as their counterparts in the main network, and can currently be used in staking.

[3]

Once the Darwinia mainnet is launched, a Token Bridge will be created with the Crab network, allowing the conversion of cRING to RING.

The conversion ratio is 100 cRING = 1 RING.[3]

Darwinia ID

Darwinia will use a single identifier code to mark and identify the same assets on multiple blockchains, making it easier to tag and develop a standardized database.

The system is called Interstellar Product Coding Standard, enabling the same assets on different blockchains to have a single ID.

It allows for easy transfers and protects against loss of value when an asset is sent across chains.[3]

Scale Project

In February 2020, Web3 Foundation announced a new list of W3F Grants for its funding plan. The project Scale submitted by the Darwinia development team Itering received the investment support of Web3 Foundation and became the officially recognized project of the Web3 ecosystem and Polkadot. Scale is a substrate JSON-RPC API client and libraries implemented in ruby language for general use. It contains the implementation of low-level data formats, various substrate types, and also supports metadata.[8]

Partners

  • Polkadot

  • Parity

  • MakerDAO

  • SNZ Holding

  • HashKey

  • Polkabase

  • Bihu

  • Evolution Land

  • Polka World

  • imToken

  • Math Wallet

  • Cobo Wallet

  • Polka Wallet

  • SSSnodes

  • Digital Renaissance

  • DDEX

  • OTCMAKER

References

[1]
Citation Linkcryptoticker.ioThe Top 5 Polkadot Projects
Aug 31, 2020, 10:25 AM
[2]
Citation Linktwitter.comDarwinia on Twitter
Aug 31, 2020, 10:26 AM
[3]
Citation Linkwww.asiacryptotoday.comDarwinia Network Guide: The Internet of Tokens
Aug 31, 2020, 10:27 AM
[4]
Citation Linkywqaugeunhowzrcj.public.blob.vercel-storage.comStaking in Darwinia
Aug 31, 2020, 10:36 AM
[5]
Citation Linkdarwinia.networkDarwinia official website
Aug 31, 2020, 10:45 AM
[6]
Citation Linkmedium.comDarwinia on Medium
Aug 31, 2020, 10:50 AM
[7]
Citation Linkmedium.comDarwinia Network Monthly Progress Report 201909
Aug 31, 2020, 11:16 AM
[8]
Citation Linkmedium.comDarwinia development team Itering wins funding from Web3 Foundation
Aug 31, 2020, 11:21 AM
[9]
Citation Linkmedium.comDarwinia Project Moon, 100 Million cRING Grand Prize
Aug 31, 2020, 1:16 PM
[10]
Citation Linkmedium.comThe Darwinia Node Grand Prix is over, check the list of winners!
Aug 31, 2020, 1:18 PM
[11]
Citation Linkmedium.com$cRING listed on Hoo.com
Aug 31, 2020, 1:20 PM
[12]
Citation Linkywqaugeunhowzrcj.public.blob.vercel-storage.comDarwinia Network
Aug 31, 2020, 1:26 PM
[13]
Citation Linkwww.youtube.comWeb3 Builders: Darwinia
Aug 31, 2020, 1:27 PM
[14]
Citation Linkwww.youtube.comDARWINIA NETWORK - RING AND KTON - FUTURE POTENTIAL
Aug 31, 2020, 1:27 PM
[15]
Citation Linkwww.youtube.comDARWINIA NETWORK (KTON) (RING) | EVOLUTION LAND | POLKADOT PARACHAIN
Aug 31, 2020, 1:28 PM