CheckDot

The CheckDot team is delighted to announce CheckDotChain V1, the first blockchain dedicated to the insurance sector in web3. We’ve been working on it since Q4 2023 and finally have a first version to present to you.— — — The challenge begins! — — —The article is divided into 4 sections:<ul><li>Presentation</li><li>Present and future features</li><li>Challenges</li><li>Thanks</li></ul>Presentation<h2 id="header-0">What is devnet? *(Test Zone)*</h2>The version of the CheckDot blockchain being introduced today represents the initial iteration of our future blockchain.It serves as a foundation that we’ve built from scratch to provide a fresh start, aligning with the ultimate objective of the “Decentralized Insurance” project.This blockchain is coded in JavaScript with C language libraries, ensuring exceptionally easy installation.Consequently, this version offers limited functionality and adopts most of the same principles as the Ethereum blockchain, including the EIP1559 standard and WEB3 RPC communication.You’ll be able to track the blockchain’s development until we reach the testnet version, which is expected to include all the necessary functionalities to make our goal achievable.<h2 id="header-1">Operating information:</h2>The blockchain generates a block every 10 minutes.Each block can accommodate a maximum of 450 transactions (the focus here is not on providing a swift blockchain, but a highly secure one).Every block awards 50 CDTs to validators (currently, there is only one validator).The blockchain can be reset to zero at any point during the devnet period (only challenge data will persist for the duration of the devnet).<h2 id="header-2">Accessibility:</h2>You can now request your first CDTs by accessing the Faucet page of the explorer. <a href="https://explorer.checkdot.io/faucet?network&#61;devnet" rel="noopener noreferrer nofollow">HERE</a>Add network information to Metamask or any other wallet:Network Name: CheckDot — DevNetBlokchain Id: 831RPC URL: <a href="https://devnet.checkdot.io/" rel="noopener noreferrer nofollow">https://devnet.checkdot.io</a>Explorer URL: <a href="https://explorer.checkdot.io/" rel="noopener noreferrer nofollow">https://explorer.checkdot.io</a><img src="https://miro.medium.com/v2/resize:fit:1400/1*PR79PQj5sxWDjGKwwa8btg.png" />&lt;Metamask Manual add network&gt;<h2 id="header-3">Explorer:</h2>The explorer can be found here: <a href="https://explorer.checkdot.io/" rel="noopener noreferrer nofollow">https://explorer.checkdot.io</a>Here you can find all the transactions and blocks as well as the balances and challenges for each address. Each transaction and block is detailed.<img src="https://miro.medium.com/v2/resize:fit:1400/1*Q_-LhrRlhmuPoz3rT3Nicw.png" />HomepagePresent and future features<h2 id="header-4">Present features:</h2><ol><li>Ethereum Virtual Machine Compatibility: The Checkdot blockchain aligns with the web3 libraries and RPC connections utilized on Ethereum.</li><li>EVM Wallets: You can employ the same wallets used for the Ethereum and Binance Smart Chain networks. Each transaction on the CheckDot network verifies the authenticity of the transaction signatory.</li><li>Peer-to-Peer Transactions: Native coin CDT exchange transactions, which function as the fuel for any interaction with the blockchain, are exchangeable between multiple wallets.</li><li>BaseFeePerGas: The CheckDot blockchain implements Ethereum’s EIP-1559 standard to quantify the cost of filling blocks, thereby automatically regulating the price of each interaction. For more details, refer to the documentation: <a href="https://docs.checkdot.io/blockchain/gas-fee-system" rel="noopener noreferrer nofollow">https://docs.checkdot.io/blockchain/gas-fee-system</a></li><li>Transaction Acceleration and Cancellation: The blockchain, particularly the nodes, can be leveraged to expedite or cancel a pending transaction.</li><li>GasLimit: The blocks currently have a limit of 450 transactions, each costing 24,000 Gas. This amount is fixed for now but may change in the distant future as the blockchain experiences exponential daily activity. For more details, refer to the documentation: <a href="https://docs.checkdot.io/blockchain/gas-fee-system" rel="noopener noreferrer nofollow">https://docs.checkdot.io/blockchain/gas-fee-system</a></li><li>Priority Fees: Validators and block proposers receive priority fees to incentivize the inclusion of transactions in blocks. For more information, visit: <a href="https://docs.checkdot.io/blockchain/gas-fee-system" rel="noopener noreferrer nofollow">https://docs.checkdot.io/blockchain/gas-fee-system</a></li><li>Blocks: A block is generated every 10 minutes. The block proposer inserts transactions respecting the baseFeePerGas and priority fee without exceeding the GasLimit. Learn more at: <a href="https://docs.checkdot.io/blockchain/gas-fee-system" rel="noopener noreferrer nofollow">https://docs.checkdot.io/blockchain/gas-fee-system</a></li><li>Burning: With baseFeePerGas, a certain amount of CDT is burned each time a transaction is included in a block. The full baseFeePerGas fee is burned, while the priority fee is allocated to validators. Further details can be found here: <a href="https://docs.checkdot.io/blockchain/gas-fee-system" rel="noopener noreferrer nofollow">https://docs.checkdot.io/blockchain/gas-fee-system</a></li><li>TxPool: Whenever a user initiates a transaction, it enters a pool organized by priority, baseFeePerGas, and transaction nonce, preventing double spending.</li></ol><h2 id="header-5">Future features (RoadMap devnet):</h2><ol><li>Peer-to-Peer Nodes: This involves the communication process among multiple nodes for synchronization and validation of information.</li><li>Proof of Stake / Proof of Burn: This crucial feature for decentralization allows different nodes to register as validators (through CDT Burn) and be selected for various tasks such as block attestation or proposal, thereby ensuring network security. Validators will be rewarded for their participation.</li><li>Blockchain Connectivity to Different Insurance Protocols: Validators will listen to each insurance protocol active on various blockchains. We’ll establish a modular system for connectivity across as many blockchains as possible, allowing validators to specify their preferred blockchain.</li><li>Approval of Insurance Transactions by Neural Network (AI): With the implementation of proof of stake, validators can easily undertake additional tasks, such as validating transactions specific to the insurance protocol, particularly for requests from supported blockchains.</li><li>Final Testing of Insurance Purchases and Claims on Various Blockchains: Validation tests will be conducted on multiple blockchains to ensure the robustness of insurance purchases and claims.</li><li>Adjustment of the Final Vision with Continuous Application Development (CAD): This involves adding or discontinuing insurance products. Initially managed by the team, this process aims to enhance the security of the insurance protocol.</li></ol>ChallengesTo inspire and engage the CheckDot Family, we’re crafting various challenges for you throughout the blockchain development journey.<img src="https://miro.medium.com/v2/resize:fit:1400/1*A_ay_m9N-FuBM32ZUGghDQ.png" />Leaderboard pageYou’ll discover a list of challenges on your account’s explore page.<img src="https://miro.medium.com/v2/resize:fit:1400/1*Qip0GJC8LGS4HksGpzIqKg.png" />Challenges of one accountThese challenges are meant to be tackled throughout the development process, generating the activity required for our real-life testing.Every challenge completed earns you points, positioning you on a leaderboard showcased on a dedicated page of the explorer.Each month, we’ll host a series of challenges and reward the top performers on the leaderboard.A comprehensive explanation of how the challenges operate will be provided at the launch of each test campaign.ThanksA big thank you to the entire community for supporting us every day, sharing our journey, and for your patience in being with us for two years now!A special shoutout to the entire CheckDot Team squadron, our three developers behind the scenes (Kelyan, Jeremy, and Nicholas), Avangarf for Marketing, and of course, our two agents Grzegorz and Antor, who serve you tirelessly every day!Thank you for all the work you’ve done so far, and remember, it’s not over yet — we still have some exciting steps to take together!Wishing you all a successful devnet!STAY SAFE! USE CHECKDOT!CheckDot Application: <a href="https://checkdot.io/" rel="noopener noreferrer nofollow">checkdot.io</a>CheckDot Explorer: <a href="https://explorer.checkdot.io/" rel="noopener noreferrer nofollow">explorer.checkdot.io</a>Jeremy, CheckDot CEO.………For more information on CheckDot follow us on social networks:Telegram: <a href="https://t.me/checkdot" rel="noopener noreferrer nofollow">https://t.me/checkdot</a>Instagram: <a href="https://www.instagram.com/checkdot_protocol/" rel="noopener noreferrer nofollow">https://www.instagram.com/checkdot_protocol</a>Twitter: <a href="https://twitter.com/Checkdot_proto" rel="noopener noreferrer nofollow">https://twitter.com/Checkdot_proto</a>Website: <a href="https://checkdot.io/" rel="noopener noreferrer nofollow">https://checkdot.io</a>

CheckDot — DevNet

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CheckDot

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