ShipChain, a decentralized freight and logistics platform operating on Ethereum, announces that its mainnet, a public delegated Proof of Stake sidechain of the Ethereum network, is now live, and that SHIP staking is open. This launch is a significant milestone toward achieving a modular system across the entire supply chain. ShipChain’s Track and Trace blockchain-based system, now available on its mainnet, brings complete transparency and visibility to the supply chain.
ShipChain Mainnet goes live & SHIP staking is open!
ShipChain is a coordinated, unified solution consisting of a trustless end-to-end logistics platform that brings full visibility and confidence to the global supply chain. Its mainnet provides one of the highest levels of functionality available in the freight and logistics business today; and its exciting capabilities provide public tools for the supply chain industry to improve itself.
On Friday, July 31, at 2:00 PM Eastern Daylight Time, (1800 UTC / ZULU, 1596218400 UNIX time), Validators should migrate fully from the Gamma Test Network to the ShipChain Mainnet. Delegation may also begin at this time.
The ShipChain approach avoids the current high level of congestion on the Ethereum mainnet and becomes a cost-saving mechanism for its users. ShipChain’s method moves the cost of deployment and contract use away from end-users, simplifying and improving the blockchain user experience while still providing the trust and security of a distributed network as well as the Ethereum mainnet.
Higher Transaction Throughput
Because ShipChain serves transportation and logistics — one of the world’s largest industries — a high capacity for transaction throughput is essential. With this mainnet launch, ShipChain can now support the largest Fortune 500 level enterprises in the world, with capabilities that significantly exceed other alternatives.
3rd Party “Build Something On Top Of Us” Developer Benefits
A big part of the mainnet launch is the ability for others to develop on top of the platform. Other developers are welcome and encouraged to build on top of ShipChain, further enhancing its utility for end-users. Building on top of ShipChain rather than directly on the Ethereum blockchain will allow other developers to benefit from ShipChain’s no-gas and high throughput. There is a small 10K SHIP token fee that developers must pay to be able to deploy contracts to our network, which goes into the reward pool for the validators, thus helping to maintain the network.
ShipChain uses a Delegated Proof of Stake (DPoS) consensus mechanism, and there are a number of high-performance validator nodes that help secure the network. The users of the network help choose the validators they want to run the network. They do this by “staking” or “delegating” their SHIP tokens to validators — that is, the users give validators their support by proxying their tokens to their preferred validators.
Any SHIP token holder can choose which validators it wishes to support.
Staking is critical to securing a DPoS network. By staking your SHIP tokens, you can help choose the most reliable and high-performance validators, and thus ensure the strongest possible security and performance for ShipChain. The more people who stake and actively contribute, the more decentralized and secure the chain.
Those who stake SHIP tokens in support of a validator participate in the SHIP token rewards earned by that validator.
A token holder can stake its tokens via the ShipChain Dashboard.
End-to-End Supply Chain Reliability
The potential for blockchain uses in the logistics and supply chain industry have been seen throughout the industry, in virtually all sectors, and at virtually all levels. Over the past few years, numerous use cases have been and continue to be developed. While ShipChain Inc. has built a powerful visibility platform, some example use cases that could be built on top of it are:
- Digital Freight Marketplaces using Smart Contracts
- Robust document management
- Tokenized inventory management (using ERC-721x and ERC-20 standards)
Becoming a ShipChain Validator / Node Operator
To learn how to host a validation server or as a non-validating node, and to learn how those services are compensated, visit: https://docs.shipchain.io/docs/validatorGuide.html
Becoming a ShipChain Delegator
To learn how to delegate (stake) SHIP tokens to assist in securing the network and to learn how that service is compensated, visit the validation and delegation dashboard at https://network.shipchain.io to see the list of active validators, to manage an account, and to connect with Web3 wallets.
ShipChain, Inc.’s Continued Technical Development
ShipChain, Inc. will continue to develop for and enhance the offerings on the mainnet and encourages others to develop and work collaboratively to make it better and more secure every day. To do so, please join ShipChain, Inc.’s Gitter room, and submit Pull Requests on GitHub as you see necessary. New features and major changes to the network are voted on by Validators as a part of the governance process.
https://github.io/shipchain – ShipChain GitHub
https://shipchain-mainnet.network.shipchain.io/ – ShipChain Mainnet Explorer
ShipChain Customer and Market Focus
ShipChain functions across intermodal systems — covering land, air, rail, and sea shipments.
While ShipChain can serve many industries, the focus in its development has been on six key industries:
- Food, Agriculture, and Farming
- Logistics Service Providers
- Medical Equipment
- Retail Stores
- Rental Enterprises
ShipChain Inc.’s Key Partnerships
- GTX Corp
- World Economic Forum
ShipChain Inc. is constantly developing new partnerships, pilots, and customers. We’ve had a steady flow of new partners, and we hope to be able to announce more soon, including an upcoming deal with a significant Fortune 500, which will significantly expand our modular capabilities even further.
A Word From Our CEO
On behalf of the entire ShipChain, Inc. team, I want to take a moment to thank everyone who has helped us achieve this game-changing milestone for the logistics industry. We are so lucky to have built this community and are very excited to share this next chapter with you. And to all of our supporters, customers, employees, and node operators, thank you for helping us make this a reality!