Mainnet v2.0 is coming…very soon!

Mar 11, 2021

The countdown has begun.

March 2021 is finally here and this is the month when we will launch our Mainnet v2.0! Are you excited? Because we are and do we have some amazing sneak peeks to share. A lot of you have been asking us regularly — “When Mainnet?” and the answer is 31.03.2021. Unless a giant asteroid on course to decimate humanity shows up out of nowhere or COVID-19 mutates even further and turns us into zombies, we do not plan to delay our Mainnet v2.0 launch.

It wasn’t long ago (to be precise Dec 19, 2019), when we had announced the launch of our Mainnet v1.0 and it was truly in all sense an achievement unlocked for the team. To reiterate Toby’s words — “Mainnet v1.0 was an incredibly exciting point to have reached as those building applications with Fetch.ai are now able to work on a stable platform, one where we won’t rearrange the goalposts, furniture and fridge contents just because we feel like it”.

Mainnet v1.0 was always meant to be a stepping stone on our journey to a grander vision. The grander vision being creating a decentralized digital world, a world inhabited by the “autonomous economic agents”, working together in harmony and facilitating useful economic activities. Disclaimer: we won’t be going into details on our AEAs here as we already have a lot of documentation detailing how they work and why they are an integral part of our vision.

Besides our previous mainnet launch, the world of crypto itself has come a long way (looking at you Dogecoin) and the space continues to remain exciting and filled with immense possibilities. If there is one thing that continues to remain constant in an otherwise fluid ecosystem, it is that behind all crazy ideas, there needs to be a team that believes and delivers the vision.

The team at Fetch.ai has consistently managed to deliver so far and we do not plan to take our foot off the pedal. The list is quite long, but if we were to underline some highlights, those would be as follows:

We have detailed all of the above and more on our website — Fetch.ai.

In any case, we are well on our way to delivering the vision we set out with — a fully integrated system between our frameworks and the ledger.

At the start of this year, we detailed our roadmap for Q1 2021 and since then the team has been constantly chipping away and delivering updates on key components of Fetch.ai’s Mainnet v2.0.

To help you understand what changes you can expect with the launch of Mainnet v2.0, we will outline the key 5 components (Ledger, Agent Framework, SOEF, Collective Learning, Token) underneath and highlight their respective upcoming features.

Ledger

What we outlined in the roadmap for Q1:


Where we are at before Mainnet v2.0 launch:

Beacon World testnet: We have received well over 200 sign-ups for our validator program and also conducted a community Q&A on Discord with Jonathan Ward (CTO) and Ed FitzGerald (Lead Software Engineer) where we have responded to a lot of questions from the community regarding our Incentivized Testnet. You will find all the detailed information (rewards, hardware requirements, technical requirements etc.) on how you can be a part of the validator program here.

If you’re keen to stay up to date, we do recommend you to join our Discord channel where we will be sharing more updates and will soon begin onboarding validators.

Agent Framework

What we outlined in the roadmap for Q1:

Where we are at before Mainnet v2.0 launch:

SOEF (Simple Open Economic Framework)

In Q1, the SOEF has been prepared for scaling, security and a broader range of search capabilities. Tests have been run on the incentive mechanisms, and the FET token use for computationally expensive searches. The results of this are expected to be published in the coming couple of months along with more detailed information for feedback from users. Q2 will cement this functionality, providing richer search, and introducing decentralized testing of the overall network and incentives. This comes with a tighter coupling to the Fetch ledger.

With the SOEF being in constant, 24/7 use, searching and delivering results, it has given us an unparalleled opportunity to gather feedback about what’s important in agent discovery, and we’re excited to be able to modify the development plan to serve those who are using it.

We’ve delivered the web-based SOEF search, which you can find here, and we have built a native iOS app (v1.1) which is now available on the App Store. All of this gives you a window on the decentralized agent metaverse: interesting to engage with, and vital for developers.

SOEF documentation can be found here.

Collective Learning Framework

What we outlined in the roadmap for Q1:

Where we are at before Mainnet v2.0 launch:

Last week we uploaded the code on Collective Learning to our Github repository using which you can simulate Collective Learning yourself.

If you’re wondering why this release was a momentous occasion for us, it was because the team uploaded more than 7000+ lines of Python code to the Github repository!

Our team members — Emma Smith and Juan Besa also highlighted the importance of this release and during our crowdcast on Collective Learning last week, they presented a live simulation of the code detailing how it works. If you missed out on that, you can find the recap here.

$FET Token

There will be a bridge built between Ethereum (ERC20 FET token) and Fetch Mainnet v2.0 (Native FET token) allowing token holders to move their tokens freely between the networks. Transactions on Mainnet v2.0 will be processed far faster and with lower fees than on the Ethereum network.

The current staking program with the ERC20 token will continue but token holders will also have the opportunity to earn higher rewards by staking on the Fetch V2 main-net. This will allow users to earn rewards by delegating their tokens to an existing validator or by running a validator themselves. The staking experience will also be quicker, easier, more convenient and have far lower transaction costs than the existing staking program.

The launch of our Mainnet v2.0 is just the beginning — there is more to come!