Dear Community Members:
We’d like to inform you that we plan to shift our mid-term roadmap to a new tech stack, which we’ve been building since last year. SafeStake is a trust-minimized, middle-layer fostering decentralization of ETH2.0 staking.
Please refer to the link below of the whitepaper for more insights.
Reasons for the mid-term roadmap shift:
1. We’ve been running the Plato testnet for a year and we didn’t see a strong demand from the developer side.
2. We launched a parachain auction on Polkadot and didn’t see a lot of traction to date.
We recognized it is still not a perfect time to launch our EWASM runtime infra. We will not pursue another parachain auction when the current crowdloan contract ends by the end of May. We will keep building the EWASM runtime infrastructure and wait for suitable timing to launch when the Ethereum Foundation has a clear signal of EWASM adoption in the future.
As the ETH2.0 merge becomes closer in this Q3, we decided to pivot our resources to this new tech stack — SafeStake, and implement the use case in the ParaState ecosystem and accrue value to STATE tokens.
We are on target to launch the incentivized testnet in the middle of July. And we expect the implementation of SafeStake within the ParaState ecosystem will drive huge demand for STATE tokens after the ETH2.0 merge.
We want to thank our entire community for the support they have given us to date, and for this reason at ParaState we are committed to continuing to work to generate the best ecosystem in the blockchain industry.
Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.