Gravity Solutions, a blockchain research and development firm, has announced the launch of its public testnet for the Gravity protocol is poised to power next-generation distributed ledger-solutions for SMEs.
According to the development team, the protocol offers a visionary take on network architecture and implements the Delegated Proof-of-Importance (DPoI) consensus algorithm. Inspired by Graphene – the open-source, modular blockchain framework – Gravity aims to incentivise the creation of decentralised organisations, small businesses, and applications while offering a mechanism for rewarding all network participants.
CEO and Co-founder of Gravity Solutions, Yury Parsamov, said, “Gravity aims to operate on two levels: protocol and solutions.
Gravity Protocol’s core features (the pioneering Delegated Proof-of-Importance (DPoI) consensus algorithm and a proprietary Index of Importance) incentivises active network participants directly and thus stimulates network growth. Unlike other consensus algorithms (POW, POS, DPOS) the inflational emission is distributed not among the passive network users (miners, block producers, high stake holders), but among the most active ones and this ables Gravity Protocol to become a really used blockchain.”
“On solutions level we build frameworks for small and medium enterprises, which is also a new approach within the industry of blockchain R&D, which is so fat heavily focused on offering solutions for governments, banks and corporations”,” added Parsamov.
The Gravity Index, or the Index of Importance, takes into account such factors as: account’s stake, number of incoming transactions, account’s position in network’s cluster, cluster activity and lot of other parameters, described in Gravity’s architecture paper.
To date, Gravity Solutions has successfully completed deployment of the private testnet to ensure the correct, secure and decentralised token distribution powered by the Gravity protocol and the Index of Importance. With the launch of the public testnet, open to all developers and Graphene enthusiasts, the blockchain R&D firm has allocated 10% of the initial ZGV token supply to reward participants for their contributions and feedback. The testnet stage will conclude on June 20, 2018.