Full-service cryptocurrency platform Exscudo announced today that its EON blockchain testnet will finally be launching on October 4th. EON is an open, proprietary, flexible and independent blockchain technology created by the Exscudo team. Although targeted for the financial sector, EON can be used in a variety of different use cases including business, registries, voting, text messaging and their version of smart contracts.
The company has delayed the launch of its testnet because of security testing. Exscudo stated they want to make sure its product is ‘bulletproof’ therefore they needed extra time to examine all possible vulnerabilities.
There are three things Exscudo wants to fix before the October launch to be sure that everything will progress smoothly:
- Internal testing: System testing which can be described as a “stress test” for the EON blockchain. Within the system, the Exscudo team needs to check every possible option to be sure it is really safe and nothing will happen to it in future, especially against the background of some recent events.
- Developer documentation development: Exscudo is preparing clear descriptions of the platform’s functions and their usability for developers.
- Code refactoring: The team said it’s looking for beautiful code. First, because it will be released on Github (also on October 4th) and they want the code to be readable and understandable for everyone interested in programming. They want the code to be extendable and easy to maintain, so its developers can fix bugs and improve capabilities in a very short time.
At first, Exscudo plans to launch the testnet with a minimum set of functions. Subsequently, each week and possibly in smaller time-frames they will slowly add more functions. With this conservative approach, Exscudo wants to able to check security on all of the functions of the platform with equal scrutiny.
In order to provide security for the EON technology, Exscudo is using the NaCl library. The algorithm of the electronic signature Ed25519 is used as a quick and strong option on the elliptical curves of EdDSA. In this way, the EON blockchain is secure against different types of cyber attacks, which is of the utmost importance today and why the company has delayed launching their testnet as noted above.
Exscudo held their EON token crowdsale starting back in April, raising 2,314 BTC, which is around $7.7 million USD at current rates.