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Constellation Labs, which is building its horizontally-scalable DAG protocol (directed-acyclic-graph) for consumer-grade applications, announced that its DAG token will be listed on … exchange on July 3, 2018. Previously, Constellation raised $35.2 million during its private pre-sale, which ended in January 2018. The project also announced the launch of its flagship product, Orion, to create an incentivizing portal for a developer community to contribute for DAG bounties. The testnet launch is expected to begin on August 1, 2018 and the Constellation is currently recruiting its first testnet nodes to participate.
The blockchain development community has been looking a long while for new implementations of distributed ledger technology to solve the scalability issue. The new Constellation project seems to have an answer. Its net’s throughput is about 4000-4800 transactions per second (tps) with a 1200 node cluster, compared to Bitcoin having 3-5 tps and Ethereum’s 15 tps. This scales up significantly when more nodes join and contribute bandwidth having a theoretically limitless transaction throughput.
The partitioned architecture of Constellation is built upon Extended Trust Chain (ETC) and uses reputation based consensus that allows for such a scalability. There are multiple node types in ETC, each having its own responsibility and role in the network to asynchronously govern different aspects of the protocol. A high transaction throughput enables consumer grade distributed applications to be built on the system.
In addition, Constellation uses a protocol called Proof-of-Meme (PoM) to achieve consensus. This method incorporates a node’s historical participation into delegate selection, rewarding benevolent behavior. PoM is designed to let individuals directly contribute to the improvement and monitoring of the blockchain by utilizing computing power from their own mobile phones, laptops, tablets, and other smart devices. PoM rewards behavior that improves a node’s overall reputation within the system.
Tokens for active community members
Orion, the flagship product of Constellation, is an extension of this approach, providing tools for the community to build and earn rewards by adding value to Constellation protocol. It is a membership portal dedicated to serve as a platform where the project’s team, developers, and community members can communicate, share resources, and contribute to the network. Users can apply to run Constellation testnet node on the official website.
Orion will allow developers and community members to earn tokens for contributing to the network across a range of activities. A point-based system, awarded on productive activity is dedicated to “create an organic hierarchy and encourage positive community behavior”.
Constellation token holders will be able to stake tokens to gain access to the incentivized community or developer tier of membership, with a free tier available to view the portal’s various channels and message boards. The portal became fully active on June 18th, 2018 when DAG tokens were first e distributed.
The Constellation testnet launch is scheduled for release on the 1st of August, 2018, and token holders will need to stake DAG tokens to run a testnet node and validate test transactions. Nodes will earn validator rewards (ERC-20 DAG) on the testnet based on their transaction throughput and reputation score.
“We are eager to create a way to digitally capture and quantify trust that exists between people in the world, and use it to secure the network. It’s our hope that by opening up this incentivized portal and encouraging the staking of our token, we will mobilize the Constellation community at large to address the obstacles to scaling the network”, Constellation CEO Brendan Playford stated. Constellation CTO Wyatt Meldman-Floch added: “The Constellation testnet will ultimately be launched through Orion, providing a safe testing environment for core and future development on the network”.
Over the next 6 months Constellation will be running monthly Airdrops giving away two tiers of DAG amounts that are locked for 6 months and give membership to the Orion portal.
Listing after successful pre-sale
In January 2018, Constellation raised $35.2 million in its private pre-sale of DAG tokens, which was open to accredited investors, funds, and institutional investors.
A total of more than 730 mln tokens were sold, of which roughly 14 percent will be liquid at the Constellation DAG token distribution on June 18. The first airdrop will open on July 7, five more will be held until the end of the year.
KuCoin crypto exchange has announced the listing of DAG tokens making them available to a wider base of users around the world.