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2020-04-24

BlockBase Beta Officially Live on EOS

blockbase-beta-has-arrived

With more than 3 years passing since concept envisionment and Jungle testnet on research and development initiatives finally complete, BlockBase is now officially live on the EOS mainnet.

With the BlockBase Network now live, users will be composed of 2 varieties that make up the underlying tokenomics protocol and value of both the BlockBase Network and Token, or BBT for short. For service requesters, the BlockBase software can be utilized to store their databases on blockchain benefiting from the integrity, immutability, accountability, redundancy. Service providers on the other hand, will actively run the software for financial benefit in a similar manner to how a distributed cloud service operates, but this time collecting BBT as a reward. Both service providers and requesters will engage in this process by setting up and running their own node on the BlockBase Network.

Service requesters will need to first go through the process of setting up a node, and then follow this up by defining a service level agreement in line with the five variables set out in the BlockBase Network protocol that best fits their needs in areas relating to things such as block timing, BBT block payment, settlement block numbers, total number of service providers, and number of producers stake or deposit for insurance purposes in the case that the contract is not met.

For more on the technicals including links to further resources, check out the official BlockBase announcement BlockBase Beta Has Arrived (https://www.blockbase.network/Posts/blockbase-beta-has-arrived) as well as the BlockBase Homepage (https://www.blockbase.network/) for more info on the project itself, protocols and updates, and the most recent developments and news.


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