Enterprise blockchain firm Insolar, announced today the commercial launch of its mainnet. Over the last two years, the Insolar team has been working with digital transformation and innovation leaders from the Fortune Global 500 and researchers from the world’s leading universities to identify a wish list of essential benefits that are expected of distributed ledger technology in an enterprise setting.
“The launch of Insolar mainnet is a major milestone for business and technology leaders tasked with adopting blockchain in the enterprise world. Data exchange is the backbone of every business process. We are excited that for the first time, companies have tools for trusted data exchange based on enterprise-grade distributed ledger technology with cloud-based nodes and unprecedented transaction throughput.”
– Insolar CEO, Andrey Zhulin
Introducing XNS, Insolar Wallet, and Insolar Explorer
Key components of the Insolar mainnet include the launch of its native XNS coin, Insolar Wallet, Insolar Explorer, and a secure, third-party audited architecture with the storage and speed necessary for enterprise application deployment.
Mainnet launch debuts Insolar’s native coin, XNS, which will replace its longstanding ERC20 token, INS, and power the company’s burgeoning ecosystem economy. On the first day of the mainnet launch, holders of INS will be able to swap their tokens for XNS and store them on Insolar’s new native Wallet, with transactions viewable on the redesigned Insolar Explorer.
Details on the INS-to-XNS migration process can be found on Insolar’s website and details on how XNS will function in the Insolar ecosystem can be found in the Insolar Economic Paper.
Upcoming Features and Adoption
The Insolar blockchain platform, the technology underlying the mainnet, offers enterprise firms many unique benefits:
- Participants can without running a node. This means that a company can add thousands of its clients or vendors to its network without requiring them to contribute infrastructure or technical know-how.
- Unlike other protocols, where the amount of computing resources increases exponentially for a given increase in transaction throughput, Insolar requires resources that are linearly proportional to the desired throughput of the network. Therefore, it is economically viable to achieve hundreds of thousands of transactions per second, enough to handle even the most demanding use cases.
- Engineers don’t need to learn a new programming language to work with the platform; as it runs on Java. Insolar can also run on existing hardware and is designed to be compatible with other blockchains as well as enterprise legacy systems, including EPRs like SAP and Oracle.
“Down the line, Insolar customers can look forward to custom contracts that extend the platform to meet new and pressing use cases, domain governance that enables permissioned and permissionless access within one network, and segregated data storage that complies with internal corporate and state regulatory requirements. With the recent announcement of Insolar’s collaborations with Microsoft Azure and the Oracle Cloud, Insolar customers can also look forward to seamless integration with their existing infrastructures.”
– The Insolar Team
Insolar’s mainnet was vetted by Kaspersky Lab, and in the near future, Insolar will be offering bounties through cybersecurity platform HackerOne to improve the network’s security. The bug bounty will become available first to a select group of high-level specialists and then later to the public at large.
