Coda Protocol Fascinates Libra Community

Jyoti  |  Mar 24, 2020

According to the latest report, some of the members of Libra are showing support to the largest blockchain of the world, Coda Protocol. 

Coda Protocol is a blockchain that uses zk-Snarks to scale. To date, the blockchain has introduced three phases of its testnet. At each phase of the testnet, the Coda Protocol hired a new-user. These users were the one who has participated in node operation and staking of Coda Protocol. They have also helped the blockchain by revealing the bugs that were present in the network.

Coda Protocol Launches Genesis

The head of the Coda community has mentioned that since July 2019, the users of testnet has reached over 400. 

The report further suggests that recently, the Protocol has released its latest testnet along with the launch of Genesis, a token initiative by the Coda Protocol.

(0)1 Labs, a development firm of zk-Snarks, is designing the Coda Protocol.

40 Founding Members 

According to the team, after the launch of the latest testnet, they might get more new users who would join their network. Presently, there are 1300 applicants waiting to join the network and 40 has already been accepted as a founding member. The members include Figment Networks, dsrv labs, Sparkpool, and member of Libra’s Technical Steering Committee, Bison Trails.

While talking about the token initiative, the CEO of (0)1 Lab, Evan Shapiro, has said, “The Genesis token program is designed to ensure block producers are operationally prepared for mainnet. We couldn’t be more pleased to have such an outpouring of interest from people hailing from 80 different countries, and we are using this momentum to continue strengthening the protocol and ensure a robust, highly decentralized network at mainnet.”

The report adds that the Coda Protocol has scheduled a launch of its mainnet in the year 2020. In this launch, the Coda would issue tokens. The founding members of Genesis could acquire 6.6 percent of those token.

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