As the World’s First Auto-Rebasing Layer 1 Blockchain, we are committed to providing a cutting-edge and secure network for our users by maintaining a happy community. The launch of Testnet Beta will grant us ample time for official scrutiny as well as allow developers to test their smart apps on the Vulcan Blockchain in a real-time environment.
Vulcan Blockchain is currently in Alpha stage. As we continue to strive for excellence, we have made the decision to launch our Beta Testnet on March 1st 2023, providing us with the ideal opportunity to thoroughly test our network and identify any potential issues or vulnerabilities. During this testing phase we will be implementing a simple and straight forward KYC process for our Full-Node Holders which is a mandatory requirement.
Testnet Beta will officially run and operate for a minimum period of 30 days. This testing period will allow us to deliver a robust and reliable platform that will exceed your expectations and leave you feeling more confident than ever before.
Mainnet will go live after the complete testing phase has been allowed ample time to run its course, and for us to be entirely 100% confident that the Blockchain is ready without a shadow of a doubt.
KYC For Node Operators
With security remaining at the core epicenter of all our decisions, we will be implementing a mandatory KYC (Know Your Customer) procedure for all Full-Node validators. Lite-Node validators will not be required to complete KYC although it is highly recommended.
This important step is a legal requirement and will help to verify the identity of individuals and businesses that operate nodes on the Vulcan Network. The implementation of this process will ensure the security and stability of our network and provide a secure environment for all participants. Our implementation of the KYC procedure for Full-Node operators is a crucial part of this commitment to protect and support you.
By implementing KYC, we aim to prevent any potential security breaches or fraudulent activities that could harm our network and its users. The thorough execution of this process cannot be rushed, and is essential to the overall security and stability of our network.
We will communicate this process and which third-party KYC provider services will be used shortly.
We are proud to be the first protocol to implement EIP1559 into a rebasing protocol. EIP1559 is a mechanism that will completely vaporize coins from the FirePit on a quarterly basis to reduce the Total Supply and ensure the FirePit stays at a minimum of 51%. By integrating this mechanism at a protocol level, $VUL will remain deflationary and will extend the rebasing-life of the Blockchain.
Furthermore, we will be spinning up a Mirror Testnet to implement the Firestorm (EIP1559 mechanism) process in real time. This will allow us to be confident and validate the efficacy of the mechanism in a controlled environment and make any necessary adjustments before the Mainnet launch.
A Testnet is a simulated environment that allows developers to test and debug their code without affecting the main Blockchain network. A public Faucet on a Testnet acts as a virtual dispenser of test coins, which can be used in the same way as real assets, but have no monetary value.
This enables developers to experiment with their applications, test the features and functionality, and make necessary changes before deploying them to Mainnet. Thus, a Faucet on a Testnet is crucial for developers as it provides confidence in a safe and cost-effective environment for them to test and refine their Blockchain applications. The Vulcan Faucet will also allow users to interact between themselves and other holders through on-chain transfers.
We believe this additional testing period is necessary to ensure the long-term success of the Vulcan Network. Our goal is to provide a secure and reliable platform that offers a seamless user experience, and we are confident that the extra time and effort invested in testing and security measures will result in a stronger and more reliable network for everyone.