Fastex Chain is excited to announce the launch of its Testnet on February 1st. The Testnet will feature the latest consensus mechanism, Proof of Stake Activity (PoSA), the next-level consensus mechanism that promises to improve the efficiency and security of the Fastex blockchain.
"I am thrilled about the successful launch of Fastex Chain's testnet. This innovative blockchain technology has the potential to propel the growth of Web3 technologies and drive the future of the digital economy." - Vigen Badalyan, Co-Founder of SoftConstruct.
PoSA is programmed to take into account the users' actions with a validator-deployed smart contract in addition to the stake whenever considering the chance to become a block producer or validator. The distribution of block rewards also happens accordingly. In PoSA, validators are elected based on their stake and ability to contribute to the network. This increases the network's security and makes it more decentralized. The activity parameter signifies a new era for the blockchain economy and presents the veritable block creation and validation mechanism.
The launch of the Testnet will provide an opportunity for developers and users to test the Fastex Chain and its PoSA consensus mechanism. It will also allow Fastex to gather valuable feedback from the community and improve the network before its mainnet launch.
Fastex is committed to building a high-performance, secure, and decentralized blockchain. Launching the Testnet with PoSA is a significant step towards achieving this goal. The Fastex team invites all interested parties to participate in the Testnet and provide feedback on the technology.