On November 30th, THEKEY launched its MainNet and provided a report highlighting progress made since June of 2018. THEKEY aim to create a Blockchain-based Dynamic Multi-Dimension Identification (BDMI) solution to offer identity verification (IDV).
In its previous update, THEKEY reported “undeniable” and “unalterable” IDV results through its BDMI, adoption of the 5-pillar private key management system, and the integration of IDV into digital wallets to form a Real Identity Wallet.
Due to the aforementioned achievements, THEKEY received the “Technology Innovation Award of 2018 Chinese Government’s Information Product”.
Additionally, the team launched the National Laboratory of Application of Blockchain in Social Insurance, which studies “social insurance blockchain applications.”
Lastly, in October of 2018, THEKEY deployed BDMI as the IDV solution as a test pilot for the Guizhou Pension Program, which serves 35.8 million people.
MainNet launches ahead of schedule
Catherine Li has stated the team initially planned to launch the MainNet on December 30th, 2018 but has launched the blockchain a month in advance on November 30th. THEKEY’s MainNet incorporates a few primary processes the development team has gleaned from testing its TestNet blockchain.
First, MainNet focussed on improving the performance, efficiency, and reliability of BDMI technology. Second, the team has “conducted a feasibility study on potential proprietary hardware devices while concurrently developing the Mainnet.”
Community beta testing of the source code began at 10:00 am on Friday, November 30th. The code can be seen on THEKEY’s GitHub repository located at the link below:
It should be noted that this is the preliminary release of MainNet, and THEKEY’s CEO Catherine Li believes the team has “a long way to go before the Mainnet can be implemented into real-world applications.”
Li will be taking community questions in an Ask Me Anything (AMA) on Reddit beginning at 8:00 pm (GMT +8) on Friday, December 7th, 2018.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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