Step into the fascinating world of Etho Protocol, where a passionate team comes together to shape the future of blockchain storage as we know it. Picture this: a group of dedicated individuals gathered around a virtual table, eagerly reviewing the roadmap they had set in motion back in Q1 of 2023. The anticipation is palpable as they reflect upon their achievements, eager to share the incredible progress they’ve made. Brace yourself, because they’ve not only met but surpassed their goals for the last quarter. Get ready to be amazed as we unveil the remarkable outcomes they have in store for you!
Let’s start though with a short recap of what is Etho Protocol.
ETHO Protocol is a blockchain, which is a secure way of storing information across multiple devices instead of one central server. The blockchain is based on EVM (Ethereum Virtual Machine), which has been developed by Ethereum. EVM runs smart contracts.
In addition, the ETHO Protocol uses IPFS (InterPlanetary File System), a system for storing and sharing files in a decentralized way. This is done using storage contracts, which are basically agreements on how and and how long the data will be stored.
Combining these technologies makes the ETHO Protocol a great option for a decentralized cloud service, where data can be stored securely and transparently. It’s particularly useful for data that needs to comply with specific rules, like legal or industry standards, as this system ensures the data stays intact and accessible for a definable time from a day to 10 years. This combination of storage and contracts is called EPIC (Etho Protocol IPFS Cloud)
Now let us look at the roadmap published this quarter. Green bold items have been developed. Our R&D group has done terrific work with Dox at the helm.
Retrospective for Q1 2023
Etho Protocol is developing EPIC as the center proposition for companies and developers alike to build on. EPIC is still under test in the test network, but also on the production main net improvements have been introduced like a reliable, redundant, and scalable storage platform. But also other properties have been put in place like a state-of-the-art multi-sig bridge to allow multi-chain asset transfers to BEP20 or ERC20 (https://bridge.ethoprotocol.com). We had an article about it here recently.
The No Pain, Only Multisig Token Bridge for Etho Protocol
Token bridges play a vital role in enabling the seamless transfer of assets from one blockchain to another. However…
Also an oracle for the storage price prediction in ETHO and marketing assets like a social faucet (https://faucet.ethoprotocol.com). Discussions have also been started to have governance on our blockchain.
The ongoing Q2 2023
Also, Q2 has been busy with the focus shifting to onboarding a first business customer. Actually 2 business customers, one who wants to use EPIC via an aggregation platform, and one providing an aggregation platform.
Besides that, the upload for consumer use cases has been totally redesigned and released for test purposes. An article can be found here:
Test driving Etho Protocol IPFS Cloud
Storing data on the IPFS with different redundancies for NFTs, insurance documents, tax declarations with a store and…
Ahead of a main net launch in Q3 documentation and marketing assets will be updated to allow a consistent experience.
The coming Q3 2023
Q3 will be our moment of truth when we will do a soft fork moving the test net contracts to the main net into a full production environment. The test net will remain available for developers as a test environment.
Later in Q3 we plan to improve node deployments (https://node.ethoprotocol.com), also in order to scale storage on a more simpler basis. We also plan to increase our marketing efforts: vouchers for onboarding are part of that game as well as getting on the LEDGER live platform.
Q4 is about scaling. We will onboard additional business customers.
One discussion we will then need to also start is if we should follow Ethereum to staking, fine-tuning the tokenomics (ie staking requirements for nodes etc), and also looking into simplifying staking.
Into the future beyond this year
We also started to look into 2024. Improving onboarding, and expanding use cases are some of the items being looked into. The only thing we can be sure of is that those things might evolve. We are very customer focused, be it on the business or consumer side.
In conclusion, Etho Protocol stands at the forefront of revolutionizing blockchain storage as we know it. With a passionate team of innovators driving the project forward, they have exceeded expectations, delivering remarkable progress and achievements in the last quarter.
By combining the power of the Ethereum Virtual Machine (EVM) and the decentralized InterPlanetary File System (IPFS), Etho Protocol has created EPIC (Etho Protocol IPFS Cloud), a secure and transparent solution for storing data. This breakthrough technology opens up new possibilities for industries that require compliance with specific standards, ensuring data integrity and accessibility.
Their customer-centric approach ensures that they will continue to adapt and evolve, keeping pace with the ever-changing needs of the blockchain community.
So, step into the fascinating world of Etho Protocol, where passion meets innovation, and witness the remarkable transformation of blockchain storage. Join them on this incredible journey as they shape the future of decentralized information storage and pave the way for a more secure and transparent digital landscape.