Proton Chain
Over the past few months we have been deliberating over alternative blockchains to use as a result of the network congestion currently plaguing the Ethereum blockchain. It can cost in excess of $40.00 to interact with a smart contract on the network. Our marketplace relies on decentralised smart contracts, so this would be crippling to the marketplace upon release.
A few months ago we were made aware of Proton Chain — a delegated proof-of-stake blockchain with a focus on payment processing. The network supports a high volume of transactions-per-second, human-readable wallet names, wrapped token support, and zero fees for users. Proton was only established last year and has already made great innovations within the blockchain industry. It is for these reasons that we have decided to migrate our project to the Proton ecosystem.
You can learn more about Proton and the team behind it by clicking here.
Converting STRX Tokens
At the end of this month we will release a token conversion tool allowing token holders to convert their STRX from the Ethereum blockchain to Proton Chain. We have developed the tool with the high Ethereum gas fees in mind. Users will not need to pay any gas fees or interact with the Ethereum blockchain to convert their tokens. We only require that users verify ownership of the wallet address by signing an authentication message.
We will take a snapshot of token balances on 31 October 2021 at 00:00 UTC. Only wallets holding STRX tokens at the time of the snapshot will be eligible for conversion. The token conversion tool will be discontinued some time next year, with any unclaimed tokens being aidropped back into the community.
Instructions on how to use the tool will be provided when it is released.
Marketplace Development
During the course of development on the Ethereum blockchain, our blockchain-based code was written to be compatible with the Ethereum Virtual Machine (EVM). This includes the smart contracts at the core of the marketplace.
Proton Chain is not EVM-compatible, meaning our blockchain code will need to be rewritten from the ground up. Some of our back-end server code will also need to be modified so it can interact with the new blockchain code. We will enter this stage of the development process some time after we release the token conversion tool.
We kindly ask for your patience during these exciting times while we transition to a better-suited blockchain. We are confident the migration to Proton will be beneficial for both our project and the Proton community.
Any questions can be sent to us on Twitter or asked in our Telegram group. We look forward to hearing your feedback.
