Please note that, in accordance with the plan described above, some components of the Bitbon System are still being developed or prepared for launch, but owners of Bitbon units can already use the existing services. We recommend that you purchase Bitbon units and join the community.
The decentralization of the Bitbon System is achieved in four fundamental stages:
of the Bitbon System
of the Bitbon System
In order for you to see what has already been done by our team, what we are working on and what is planned for the future, each task will be assigned one of three statuses over the course of implementation:
This means that the Bitbon System Roadmap is a dynamic and “living” resource that will constantly be supplemented and updated in order to fully display the progress in the development of the Bitbon System.
Stage 1 Private Closed Nodes of the Bitbon System Network
Fork of the Ethereum network node
As a result of Ethereum’s Geth hard fork, the test network achieved the performance of 1,000 transactions per second for the first time, which significantly surpassed that of the original version of Ethereum (up to 15 t/s). These indicators allowed cutting down the time to carry out transactions (from minutes to several seconds) as well as increasing the network capacity.
Why does Simcord use a separate version of the Ethereum blockchain?
Deployment of test nodes of the Bitbon System network
The first test network of the private Ethereum network was deployed. The research of the test network confirmed that the base technology and network topology were suitable for the private nodes of the Bitbon System network, which allowed using this architecture for further development of nodes of the Bitbon System network.
Assetbox storage was deployed. The performance of the network and storage of the Bitbon System were tested and, as a result, their performance and reliability were increased. The Assetbox storage was also tested for scalability with increasing amounts of data.
Processing components and storage network for trading platforms and services in the test network of the Bitbon System were deployed, resource and load tests were conducted, characteristics and performance of the entire System as a whole were studied. The coordinated work of all components of the System achieved after the deployment allowed eliminating time delays and data loss when processing transactions and User request. The storage network was confirmed to be ready for further interaction with various external services.
Bitbon System Public Contract coming into effect
On March 10, 2018, the Bitbon System Public Contract was published and came into effect. It is a basic constitutive agreement between SIMCORD LLC as the founder of the Bitbon System with all Bitbon System Participants. The Bitbon System Public Contract sets forth the rights and obligations of all Participants arising from the management of the Bitbon System as well as stipulates the capabilities of its Users.
Creation of the production version of nodes of the Bitbon System network
In accordance with the plan for putting the Bitbon System into operation, the main network was deployed. The resource testing was performed, which included works on the final stage of preparing all components for testing the functional capabilities of the System under load over an extended period of time. This confirmed that the System was ready to process the planned number of requests from Users and withstand the load on the network.
Creation of a system of smart contracts for distributed ledger tokens and issue of 100,000,000 Bitbon units
Creation and testing of the base set of smart contracts for recording transactions in the Bitbon System addressed the issue of security and laid the foundation for further development of the System functionality.
Issue of 100,000,000 Bitbon units to allow Bitbon System Users to use the opportunities laid down in the Bitbon System, as well as to allow Bitbon System Participants to exercise their right to directly manage the Bitbon System in the interest of all its Users.
Additional issue of Bitbon units in the Bitbon System is not possible.
Expansion of nodes of the Bitbon System network by increasing the number of nodes from 4 to 12
The performance of nodes of the Bitbon System network was tested, and it was expanded by adding new nodes. The geographic distribution of network nodes significantly increases the reliability of storing data and ensures additional stability of the System as a whole.
Replacement of the Ethereum PoW consensus algorithm with Community PoS algorithm developed by Simcord
The main objective of Community PoS is to provide complete decentralization of announcement and verification of transaction blocks with high network performance and short guaranteed transaction confirmation delay.
With the launch of the new algorithm, the power consumption of the Bitbon System distributed ledger decreased, while the transaction processing speed increased to 5,000 per second.
Consensus Building Using the Community PoS Algorithm in the Distributed Ledger Token Accounting System of the Bitbon System
Expansion of nodes of the Bitbon System network by increasing the number of nodes from 12 to 20
On February 3, 2020, nodes of the Bitbon System network were expanded, and the number of nodes was increased from 12 to 20 in 6 different locations.
Software updates for nodes of the Bitbon System network and system of smart contracts
This update increased the reliability, fault-tolerance and security of the distributed ledger token transfer system, as well as trust in decentralized execution environment of the Bitbon System.
New ways of carrying out transfers at the node level were implemented, which will ensure the connection of Users to Registrator pools and distribution of remuneration for сonsensus building in the Bitbon System.
Realization of providing in the Bitbon System
According to Provision 15 of the Bitbon System Public Contract, providing in the Bitbon System is a type of activity of the Bitbon System User aimed at ensuring decentralization of the Bitbon System by providing a certain number of his/her Bitbon units and resources of proper quality, including communication channels, CPU time and memory for long-term storage of information in order to ensure the circulation of digital assets.
The Bitbon System stipulates the status of a Bitbon System Provider, which allows the Bitbon System User in the roles of a Registrator and/or Partitioner to maintain decentralization of the Bitbon System by providing his/her own resources for such purposes in accordance with the Appendix to the Bitbon System Public Contract Bitbon System Provider.
Realization of the 1st stage of economic and legal decentralization of the Bitbon System
The concept of realizing the economic and legal decentralization of the Bitbon System is that Users, through the base services of the Bitbon System, can perform economic relations by arranging deals, while the Bitbon System Providers, in the role of Registrators, can record such deals in order to confirm a legal fact by achieving consensus using the Community PoS algorithm.
Providing in the Bitbon System: Economic and Legal Decentralization of the Bitbon System
Publication of source codes for the software of nodes of the Bitbon System network in Simcord’s GitHub repository
Following the principle of openness and transparency of its activities, Simcord as the first Bitbon System Operator provided the software algorithms of nodes of the Bitbon System network in Simcord’s GitHub repository for an open audit.
Ensuring the 1st stage of technological decentralization of the Bitbon System
The concept of ensuring technological decentralization of the Bitbon System by means of providing is to create a global, highly reliable and distributed storage of secure data with a high degree of trust, which is updated in real time and supported by the Bitbon System Providers in the role of Partitioners in order to create decentralized access to the Bitbon System infrastructure for building a global new generation accounting and management system.
During the transition period of the Bitbon System, SIMCORD LLC undertakes to independently maintain and develop the Bitbon System infrastructure with the status of a Provider in the role of a Partitioner, using its own computing and telecommunications resources, as well as to receive remuneration in full, the size of which is established in paragraph 14 of Article 7 of the Appendix to the Bitbon System Public Contract Bitbon System Provider until the date specified in paragraph 1.2 of Provision 17 of the Bitbon System Public Contract.
Providing in the Bitbon System: Technological Decentralization of the Bitbon System
Creation of a test network to ensure seamless integration of third-party services into the Bitbon System
A special test network allows developers to create and check their integration systems in test environment for subsequent launch in the main network of the Bitbon System.
Expansion of nodes of the Bitbon System network by increasing the number of nodes from 20 to 33
The number of nodes of the Bitbon System network will be increased by 13 and will amount to 33 nodes. Such actions not only contribute to technical decentralization, but also increase the performance and fault-tolerance of the System as a whole, which, in turn, provides new opportunities to develop the decentralized infrastructure of the Bitbon System more actively.
Stage 2 Private Open Nodes of the Bitbon System Network
Launch of the “Documents and document management” component
The “Documents and document management” component will allow organizing a reliable and high-capacity system for decentralized storage of verifiable data, which can be referred to by services integrated with the Bitbon System.
Launch of the “User advertisements” component
The “User advertisements” component is fully decentralized and allows Users to perform secure and equal legal relations through the exchange of distributed ledger token units.
Comprehensive software update of network nodes, modules and components of the Bitbon System
This update includes preparation and testing of software before the scaling of network nodes of the Bitbon System using solutions for sharding.
Scaling of nodes of the Bitbon System network using sharding
Implementation of functionality to split the transaction flow in the Bitbon System among various interconnected network segments, which will provide a significant increase in the overall nodes of the Bitbon System network capacity.
Ability to deploy nodes of the Bitbon System network by Participants authorized by Simcord
Enabling Regional Operators to connect their own nodes to the nodes of the Bitbon System network with access to read all transactions in real time.
Launch of the 1st stage of implementing the model of decentralized management of the Bitbon System
At this stage, the base model of interaction of Bitbon System Operators and Bitup-Agencies with state organizations and Bitbon System Users as a whole will be implemented.
Ability of Bitbon System Participants to install and launch the software of the node of the Bitbon System blockchain network on their personal computers
This software will provide full access to public data of the distributed ledger and methods of smart contracts.
Creation of private segments of nodes of the Bitbon System network
The ability to create private segments of nodes of the Bitbon System network to be used in the infrastructure of various organizations and groups ensuring the verification of resources and assets of private segments in public segments of the Bitbon System.
Stage 3 Fully Public Nodes of the Bitbon System Network
Decentralized storage of all information on Bitbon System accounts in nodes of the Bitbon System network
Information on accounts will be stored in fragments and encrypted, in several closed segments (subnetworks), which will provide security and reliability of its storage. Access to this information will be determined by the rules of the Bitbon System, credentials and corresponding certificates of Users’ accounts. Therefore, only authorized Users with permission from the owner of the information will be able to access it.
Decentralized storage of information resources and digital asset protocols in nodes of the Bitbon System network
All information resources created by Bitbon System Users will be encrypted in distributed stores on the System’s nodes. Decentralized storage will provide high reliability and accessibility of information and create the foundation for subsequent stages of decentralization of the Bitbon System.
Implementation of the function of archiving the data accumulated during the operation of nodes of the Bitbon System network with decentralized storage, in order to optimize the use of memory capacity of long-term information storage on network nodes and to prevent a decrease in system performance with an increase in the number of processed transactions.
Stage 4 Single Decentralized Processing Complex
Global update of the hardware and software complex of the Bitbon System infrastructure
This update will significantly expand the functionality of the execution environment of the Bitbon System, which will allow the community to develop own modules of the Bitbon System, as well as expand the data exchange protocol in nodes of the Bitbon System network.
Ability to host specialized components on own resources and to create stores of local data
Launch of a set of tools to create private segments of network nodes in the Bitbon System infrastructure with the ability to exchange data and transactions with other nodes and network segments as well as geographically localized segments and distributed stores for flexible management of data and transaction flows.
Launch of the 2nd stage of implementation of the model of decentralized management of the Bitbon System
At this stage, the voting procedure will be implemented, using which Bitbon System Participants will be able to take part in the System management.
Complete decentralization of the Bitbon System
Transition of the Bitbon System to fully decentralized management only by Bitbon System Participants in accordance with Provision 17 of the Bitbon System Public Contract.