Dear Hashgard Community Members:
Since the establishment of Hashgard Foundation more than a year ago, we have been committed to building the underlying ecology of future digital financial industry through blockchain technology, building a sound infrastructure and contributing to the prosperity of decentralized business.
Since the launch of the SIF test network in December 2018, Hashgard test network software has been iterated from version SIF-1000 to SIF-6000, and based on the Cosmos SDK code, the homology based on the system’s native contract has been added. The functions of the HTC10, the atomic swap protocol HRC11, the deposit agreement HRC12, and the forward payment protocol HRC13 have enabled many application scenarios in the financial industry to be implemented on chain through decentralized technologies, thus solving the problems of traditional financial products such as transparency and lack of trust, and we received many praises from industry experts and community users.
Still, there is a pain point that always lingers in our hearts. Although the Cosmos SDK has a huge technical advantage in building a public chain (more than 80 projects are based on its development, and can be cross-chain interoperable through the IBC protocol in the future), but still can not support virtual machine and Turing complete programming language.
This means that if we launch the Hashgard mainnet at this stage, the vast majority of developers can only use the system native contract for limited parameter configuration and interface, instead of freely programming to create more innovative projects and products. We believe that this is a lack of core function for a new generation of public chain projects, just as if Ethereum does not have EVM and Solidity programming language to develop smart contracts, there will be no value and influence today.
In order to expand the future development of Hashgard public chain and to better support the developers of the Cosmos ecosystem, we decided to postpone Hashgard mainnet launch plan originally scheduled for end of July 2019, thus providing more time for our tech team to conduct the research and development for the next phase.
The time will be used to:
1. Integrate Turing complete virtual machine adaptive to Hashgard network and perform necessary optimization and expansion;
2. Comprehensive testing and code security checks of system functions;
3. Smart contract development tools and developer community building.
We understand that many Hashgard community users are actively preparing to be the main network validators and waiting to develop Dapp on Hashgard. The decision to postpone the mainnet launch has caused a certain degree of inconvenience for you. We apologize for this. This decision is better for the long-term development of Hashgard, and we hope that it will be supported and understood by the community.
Since the main network launch is postponed, the unlock of token for the team reward will also be postponed. We will distribute rewards for volunteers participated in the test network tasks soon.
Once again, we are grateful to the community members and partners for your support of Hashgard.
Hashgard Foundation
June 5, 2019