MVP Development Status Update

We would like to update the community on the status of Graft blockchain development. We have made a lot of plans and promises, and now it’s time for our dreams to start coming true. In order to achieve our ambitious goals, we have put together an efficient team of very talented and experienced developers. Two of them came from Monero project, which is very important for us as we forked the blockchain from Monero, and there will be many blockchain protocol changes.

Network Node, Testnet, and Blockchain Explorer

As an important milestone, we have finished some initial blockchain code modifications which allowed us to set up a public testnet with the first Graft block explorer.

While the testnet is open for access from the Internet, we have not published yet any information on node/supernode setup, configuration, and connectivity since we are still frequently updating it, and we would like to make sure it is stable enough to be open for public view and alpha testing. We will notify everyone once we publish the instructions so anyone will be able to connect and test the basic network.

Supernode

The majority of the work, however, currently is concentrated in supernode code which is — unlike network node forked from Monero — being designed from scratch. The proof of concept supernode was written in Python for the sake of rapid prototype development. After thorough review, the team decided to refactor the supernode code in C++ in order to keep a single technology stack and optimize the development process and network performance. Although the supernode and network node are based on the same technology stack now, the supernode is still deployed as a separate process (daemon), and we intend to keep it this way, at least for the near future.

Mining

Also, we are working on instructions for miners, including GPU and mining pools. Initially, it will be possible to mine on CPU, so the entire full supernode can be hosted on single machine. That’s how the typical testnet supernode is configured. On the mainnet, however, the network hashrate will grow fast, which will require GPU, then multiple GPU, and eventually mining pools to be set up in order to efficiently mine and maintain the full supernode. We are working on providing instructions for GPU miners as well as creating a first mining pool. The GPU mining machine can be detached from the supernode, which enables a hybrid “on premise/cloud” configuration, where, for example, the GPU mining rig is located at home while the supernode is hosted in AWS.

Mobile Wallet, Point of Sale, and Payment Terminal Apps

Finally, we are working on development of client applications, which include wallet and point of sale mobile apps that should look familiar from the PoC phase, as well as new apps running on payment terminals such as Verifone, Ingenico, Equinox, and AnywhereCommerce. Those new apps are going to be different from our existing mobile apps as they are going to be tailored to particular terminal hardware/OS/API/SDK and mostly integrated with third party point of sale software. The terminal apps are very important as they will open the door to the mainstream merchants including top tier retailers. Here is how the typical terminal app will interact with Graft blockchain:

We are still on initial design phase with those apps, but we believe we will be able to demonstrate the working prototypes before the ICO. Stay tuned!

Graft Pre-Sale on NEM Platform

We are very happy to announce that Graft token pre-sale will be conducted using a token based on NEM Mosaic, a smart contract token platform. The Graft NEM based tokens (Graft:token) will be exchanged to GRF coins once Graft network becomes operational, which is preliminary scheduled for the end of the year. We are seeking to sell 135,000 Graft:tokens for 353.7 BTC. Pre-sale will start on September 15th 2017 at 15pm UTC and end on September 22nd 2017 at 15pm UTC. The pre-sale price of one Graft:token (0.001843 BTC / 0.028 ETH / 28.06 XEM) is 30% less than the final sale price which is set to 0.00262 BTC / 0.04 ETH / 40.09 XEM.

The Graft coin is called Graft (GRF), and is the “fuel” of the Graft platform. GRF are cryptographic tokens that will enable purchasers to transact and operate services on the Graft platform when it is launched by Graft. GRF is required for participation in Graft network activities, including but not limited to operating the full supernodes, which provide instant confirmations and other important network services. The total supply (maximum number) of GRF is 18,446,744. The majority of GRF will be created as a block reward by supernode operators during several years of mining. Since Graft uses combined Pow/PoS algorithm, 500 GRF will be required to deposit as proof of stake in order to operate the full supernode. For more details about its uses in the network, please see Graft white paper or/and Frequently Asked Questions.

At the time of the pre-sale, the Graft platform will not have been launched. Purchasers in the pre-sale will acquire Graft:token (NEM based smart contract tokens) in exchange for BTC, ETH, or XEM. 135,000 Graft:tokens pre-sold in this manner can be exchanged to GRF coins created in the Graft genesis block. Graft will allocate equivalent amount of GRF purchased in the pre-sale in the genesis block. The genesis block will constitute the inception of operation of the Graft network.