W3F Milestone 2 Grant Submission
Milestone 1 Recap
Last month, MassBit was the recipient of the prestigious Web3 Foundation Milestone 1 grant. The Web3 Foundation funds research and development teams who are building the foundation of the decentralized web. MassBit has been working with the foundation’s flagship protocol, Polkadot, to exhibit the efficiency of its network as a decentralized API service infrastructure by utilizing the security and scalability of the DOT chain.
Milestone 1 laid the foundations of the network, including official guides for node operation, routing mechanism and Node/Gateway performance metric requirements. The key focus was on implementing MassBit Core, which is responsible for generating installation scripts and routing configurations for all Nodes and Gateways within the MassBit Network.
MassBit is now pleased to announce we have formally submitted the completed Milestone 2 for the Web3 Foundation Grant Program, something only around 20% of applicants have been able to accomplish. We now await the Foundation to review our application.
Milestone 2 focused on core functions being covered by unit tests to ensure functionality and robustness of MassBit Route. The beginning of October saw the network update its codebase to reflect key updates. Nodes and Gateways running the previous script were asked to update their codebase or start new Nodes/Gateways using the updated codebase. Network upgrades were implemented to help improve the Node approval process with a fair evaluation of RTT and network bandwidth by distributed Fisherman components.
With the completion of the Milestone 2 application, the MassBit network begins to realize its potential, by creating a cost effective and efficient user-operated blockchain distribution network. The MassBit Route ecosystem now looks to expand by integrating the network with paracahains and major L1/L2 that have a large number of transactions and data usage. Currently network members can experiment with MassBit Route core routing functionality with both ETH and DOT blockchain nodes in Testnet.
About MassBit Project
MassBit provides fully decentralized solutions for Defi and Web3 App project development. Currently, MassBit has 4 products in the stage of development; MassBit Route, MassBit Multi-chain Indexing, MassBit Prime, and MassBit Insights. MassBit enables DeFi and Web3 App development to be faster, more stable, scalable, and cost-effective.
The powerful ‘glue’ holding together and supporting all the products is the MassBit Verification Protocol, which is based on proof of stake. The protocol incentivizes those working within the system to verify each other’s work. The verification of other nodes, gateways, or indexers gives rewards or penalties for the mistakes to each individual or entity. From that, the protocol ensures the whole network’s health.
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*For more information regarding the details of the grant, including the full Grant Proposal, please visit: https://github.com/w3f/Grants-Program/blob/master/applications/MassBit_route.md
*For information regarding the Milestone 1 evaluation, please visit: https://github.com/w3f/Grant-Milestone-Delivery/blob/master/evaluations/MassBit_1_takahser.md