April Monthly Update

Token Network Monthly Update- April

We are excited to share some of the interesting developments that have occurred in the month of April.

Overview

The Token Network core team is excited to announce that we have officially launched the testing phase of the main net with its closed beta business partners and will soon be available for the public for testing. We hope to use this testing phase to iron out any problems before the official launch of our main net planned in July 2020.

Technical Progress

Main Net Testing

- Our team has launched the test blockchain for testing and are currently trialing it with our close beta business partners.

- The Token Network is working to make this code base open source in the coming month so it will be open to the wider community developers and eCommerce business.

Token Network Web Wallet

- We are currently working on both the front and back end of the Web Wallet and are on track with our timeline

Token Network Smart Contract

- Token Network smart contracts are currently being tested for basic transactions and token creation.

- We have been working on different token standards which will allow businesses to issue their own security tokens later on. These smart contracts are built and designed for institutions to make it easier for them to manage these security tokens.

- Token Network has been testing smart business contracts to be used within merchants and consumers.

Business Update

Token Network has identified that its key audience groups are taking the business to consumer approach. Our business model will focus on providing an effective e-commerce platform that will allow merchants to design, set up and manage stores across multiple sales channels through a block chain based solution. We aim to help facilitate e-commerce merchants to build their business with fewer intermediaries in order to help maximise their profits.

Community and more

- We successfully held two AMA campaigns for Token Network Lite this month and are excited to see our community continuing to grow further!

- We plan to release more bounties in the month of May so keep your eyes peeled on our social media platforms!

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