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  • Writer's pictureErhan

Major Update: Soarchain Unveils Updated Incentivized Testnet

Soarchain is thrilled to announce a major leap forward with the launch of our new updated incentivized testnet—a significant milestone that marks the evolution of the Soarchain ecosystem. This update ushers in an era of enhanced user experience, newly added data sharing contracts, advanced functionality, and robust system performance, paving the way for a transformative approach to mobility and blockchain integration.

Implementing Decentralized Identifiers (DIDs)

Our latest update heralds the introduction of Decentralized Identifiers (DIDs), a paradigm shift in user interaction with decentralized identities. DIDs are poised to revolutionize user autonomy, enabling a more secure and privacy-centric way to manage identities on the Soarchain platform.

Launching Data Provision Request (DPR)

The introduction of the Data Provision Request (DPR) module marks a significant advancement in decentralized data exchange within the Soarchain network. This system empowers individuals to share their vehicle data in a decentralized and trustless environment. DPR ensures data consumers can trust the veracity of the data they receive, while Motus device owners are fairly compensated based on the DPR's allocated budget each epoch. This transparent and secure exchange not only fosters trust within the network but also incentivizes data sharing, contributing to the richness and utility of the Soarchain ecosystem.

Enhancing Our Token Economy

In our quest to refine the Soarchain ecosystem, we have introduced a novel challenge-based tokenomics structure. This innovative approach allows the blockchain to mint the precise number of tokens needed, effectively reducing inflation and enhancing economic stability. Our adaptive rewards system is designed to decrease based on network load, ensuring a sustainable token distribution. At the close of each day, an on-chain analysis of minting data informs the decision to adjust the reward distribution for the following day. This dynamic method ensures that the Soarchain economy remains balanced, efficient, and responsive to the network's needs.

Major Core System and Module Enhancements

We have made substantial enhancements to the Soarchain core system, ensuring that the platform operates more smoothly and powerfully than ever before. Our custom modules have received significant upgrades to boost performance and improve the user experience.

Introducing New Custom Modules

In our commitment to expanding the platform's capabilities, we have rolled out new custom modules. These additions enhance the Soarchain platform's features, allowing users to explore a broader range of functionalities.

Comprehensive Bug Fixes and System Improvements

In this update, we have diligently addressed a series of bugs and made several system improvements. These changes are crucial in enhancing the stability and performance of the Soarchain network, ensuring a more reliable and efficient environment for our users.

As we herald these exciting changes, we encourage our community to take an active part in this new phase of Soarchain's journey. Don't forget to download the updated Motus Connect & Drive mobile application from your app store. With the shift to the new testnet, the previous version of the mobile app will be phased out due to essential configuration changes. By updating your app, you'll ensure uninterrupted access to Soarchain's suite of features and continue to contribute to the network's growth and development.

This step is crucial as we strive to align our technology with the latest advancements and keep providing an optimal experience for our users. Your engagement and feedback are what drive Soarchain's continuous evolution. Together, we are setting the foundation for a decentralized, connected future in mobility. Stay connected for more updates, and thank you for being an integral part of Soarchain's incentivized testnet phase.


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