We Officially Announce the Launch of Our Testnet at Stanford!

During the past few months, over 50 TOP developers worked incredibly hard to reach our first milestone, and now, finally, we’re proud to share this amazing news with you: we’ve successfully launched our Testnet in Q3. This is a significant stride towards the decentralized communication cloud services on blockchain we’ve promised in the white paper.

We officially announced the launch of our Testnet at Stanford University Tuesday. Over 120 people, including blockchain enthusiasts, TOP community members, VCs, exchanges, corporate executives, blockchain startups and media, joined us to celebrate this crucial accomplishment.

“We have implemented on our Testnet the majority of technologies outlined in the white paper,” said TOP Network founder and CEO Steve Wei. “The high performance of the Testnet proves that our architecture and technologies work very well. The Testnet is a big step toward the launch of the main net in Q2, 2019.”

In a speech at Stanford, Steve explained the core technologies on TOP Testnet: three-layer network structure, two-layer sharding mechanism, two-layer lattice DAG and PBFT-DPoS* — a powerful arsenal we’ve created to enable real-world business on the blockchain. Consisting of three zones and six shards, our Testnet can process over 7,000 transactions a second.

Zoom CEO Eric Yuan, one of TOP’s advisors and Steve’s former colleagues at WebEx, came to congratulate our team for the Testnet roll-out.

“The reason why I came here today is I have known Steve for many years since 1996,” said Yuan, who was chosen as the most favorable CEO this year in the U.S. by Glassdoor. “When we were working at WebEx, all the core technology work, complex stuff, features were all done by Steve. I really admired him back then.”

A serial entrepreneur with a solid technical background, Steve co-founded Dingtone, which has developed Dingtone, CoverMe and SkyVPN — communication apps that altogether have attracted 50 million users, whom will become the first legion of users on TOP Network after we port those apps to our blockchain ecosystem. Prior to Dingtone, which went public in China in 2016, Steve co-founded Cenwave Communications, the №1 distance learning service provider in China. The company was successfully sold to Huawei in 2010.

“Tonight’s launch of our Testnet harbingers a new era of robust, high-throughput communications using open, state-of-the-art protocols,” said Mark Greene, advisor at TOP Network and former CEO at FICO, the company that has created the most widely used credit score in the U.S.

As a true believer in the decentralized power of individuals, TOP welcomes everyone to participate in the community. Our “Money Guy” Noah W ang, CMO at TOP Network, announced the first round of TOP bounty programs at Stanford:

We are recruiting community members to contribute nodes to our Testnet. Each selected test node will get up to $1000 rewards.

In addition, we’re giving away 1 MILLION tokens to our community during Oct. 16 ~ Nov. 5. You can easily win tokens by making transactions on the Testnet following the instructions here.

On a panel moderated by Yida Gao, general partner at Divergence Digital Currency (DDC) Fund, investors and startup CEOs expressed their confidence in the blockchain market despite the cryptocurrency price uncertainties.

“When it comes to bear cycle, it’s actually the best time to make new investments, because from an investor’s perspective, you have more negotiating power,” said Dovey Wan, founding partner of Primitive Ventures. “During the hype market, the signal-to-noise ratio is pretty low.”

“There is always a trade-off between security and the performance,” Said Sue Xu, managing partner at Amino Capital. “We are very excited about those projects that actually break such kind of trade-off and work on both security and also performance. Those are the two areas of necessity.”

David Chen, CEO at MOAC Blockchain, suggested companies to put effort into development to survive the blockchain winter.

“Bear market is probably a good one for application developers really focusing on technology like TOP Network,” said Chen.

About TOP Network:

TOP Network is a decentralized open communication network that provides secure, low-cost and efficient cloud communication services such as messaging, calling, video, VPN, CDN, IoT data sharing and more. TOP offers a high-performance public blockchain designed to handle real-world business. Powered by innovations including three-layer network structure, two-layer sharding mechanism, two-layer lattice DAG and PBFT-DPoS*, TOP is able to process millions of DAU and hundred thousand of TPS.

Before the blockchain project, the TOP development team has built Dingtone, CoverMe and SkyVPN, three communication apps that have over 50 million users in total. These apps will be ported to TOP Network upon the launch of the TOP Chain, generating unprecedentedly huge volumes of transactions in the TOP ecosystem.

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