Papyrus TestNet Launch and 2018 Recap

Recalling the landmark accomplishments throughout the year

While the year 2018 is reaching its end and 2019 is already looming on the horizon, we would like to wish you happy New Year and all the best!

Today is the last day of 2018 and the first official day of Papyrus Testnet!

Papyrus Network Testnet is live and fully working!

Meet Papyrus Network website https://papyrus.network

Papyrus Network is a public blockchain for developers designed for mass adoption and enterprise usage. This is the first Ethereum-based scalable universal blockchain network with various smart contracts capabilities which can be successfully used in all industries, especially in data-centric applications. Papyrus Network combines the best features of Ethereum and EOS avoiding their weaknesses and having something different inside that we are proud of: Papyrus Network utilizes Proof-of-Authority (PoA) consensus mechanism coupled with Separation of Powers governance approach to improve network performance and reliability. Papyrus also implements token stake-based resource management, which greatly improves user-friendliness and potential for mass adoption.

We provide the flexibility to code in Ethereum standards with the added benefits of Papyrus Network solutions to scalability and interoperability in blockchain networks.

Papyrus Network Testnet launched after the performance testing with the following results:

We significantly accelerated transaction processing using the batching technique. To support a large number of transactions per second, we tune a number of parameters specifically for our use scenario, such as:

• Size of the channel buffers
• Maximum number of transactions for the account
• The total number of transactions, the queue size for pending and queued transactions.

Network settings have been changed too, such as queue size, transaction buffers, and so on. These changes allowed to increase tps 10x times over the public Ethereum PoW network. Now Papyrus Network Testnet performs 1700–1800 transactions per second.

Let’s revise all the exciting milestones we reached this year.
Looking back at 2018 is an excellent motivation for 2019!

1. NTT Data pitching day in San Francisco

Reaching Top 9 in the Open Innovation Contest 7.0 held by NTT Data held in San Francisco in February Papyrus was the only blockchain-based solution selected out of dozens of companies and was highly evaluated for it’s a unique approach to digital advertising market with scalability and privacy solutions. It was a brilliant opportunity to present our portfolio and a great way to start the year!

2. Papyrus’ architecture stress tests

February was followed up by another solid triumph— the first and successful Papyrus architecture stress test. Within 24 hours the system was steadily handling 1000 ad events / second throughput. On that day, these assuring results along with the new impression storage and integration systems contributed to the foundation of the big MVP coming up.

3. Papyrus Performance Tests

The first months of spring were packed with intense product development. They were crowned with a crucial Channel Layer performance test — after a series of system try-out loads, the result was a convincing 16000 transactions/sec for a single channel, the number, which could be scaled even more by adding more channels. This achievement was one of the first massive proofs of concept and was decisive in our future integration events.

4. The MVP Launch

The biggest our proof of concept — the ultimate basis of what we had researched and created since the project’s foundation, arrived and was launched on the 8th of March in the form the Papyrus MVP. The launch made it possible to finally see and experience the advertising network using blockchain architecture to enable the transparent purchase of advertising inventory with scalability for the programmatic ad market. The MVP launch became the significant step to other Papyrus achievements and products — step-by-step, we created Papyrus — the world’s first scalable blockchain protocol for digital advertising, developing the technology ourselves along the way.

5. Papyrus data security functions and solutions to simplify integration

The release of the MVP also served for us as an inspiration for a range of new improvements and additions to our solution: the addition of ECIES encryption scheme and new gRPC API for easy integrations, Zabbix deployment for monitoring, Papyrus Channel Node integration with Apache Kafka and many more. As a result, any partner can integrate with Papyrus quickly and with minimum effort and/or investment because the solution is entirely “plug and play” and works out of the box and the flexibility of our solution allows us to customize the configuration for specific integrations

6. Papyrus Dashboard launch

At the beginning of July, the Papyrus team released the Papyrus Dashboard — a brand new part of the system to provide a visual analysis of the advertising chain. It provides information display and analysis to make working with large volumes of statistics convenient and fast with the help of industry high standard technologies. The Dashboard shows the advertiser all necessary information about their campaigns, making the business as honest and as transparent for all parties as possible.

7. Papyrus MVP and Advertising Industry Associations. PluggedIn Roundtable and the IAB tech lab special event.

Along with the representatives of AppNexus, DashBid, YuktaOne, ParSec, Lucidity, NYIAX, IBM Papyrus took part in a special PluggedIn roundtable discussion and the following IAB tech lab event in New York, USA. We had the honor to present our comprehensive solution, with scalability on data processing, privacy controls, proper industrial governance, reshaping of ineffective supply chain incentives using blockchain-based price verification tools to counter the industries prominent problems, stated during the discussion.

8. Papyrus Blockchain

Despite the vast technical and hypothetical capabilities of a regular blockchain, it was still not enough to match either the needs of the digital market industry or the ambitions and expectations of our project. So, Papyrus decided to create a new blockchain solution, combining high raw big data processing speed, low cost, and privacy management. Because none of the existing blockchains had enough capacities to resolve these issues. While sufficient processing speed was achieved due to the platform’s scalable architecture, enabling significantly higher data throughput at a much lower cost.

9. Papyrus’ Business White Paper 2.0

As the project expanded, our documentation had to be updated accordingly. After a year of the initial Whitepaper 1.0 public release, we prepared a complete overhaul with a new comprehensive Business Whitepaper 2.0. Up-to-date project history and vision, product introduction and investment opportunities.

10. Papyrus presented and launched it’s 2 major products — White label integrations of Papyrus Insights and Papyrus Payments into the products

On September 12–13 at DMEXCO Papyrus presented 2 new products:

• Papyrus Insights, a Media Transparency Platform for advertisers, ad agencies and publishers to get a 360-degree programmatic supply chain visibility, discrepancy management, and verification;
• Papyrus Payments — Trusted Automatic Payments Reconciliation solution for DSPs, SSPs, Ad Exchanges and Trading Desks to automate payment reconciliation based on blockchain smart contracts;

11. First real market integration of Papyrus and SmartyAds

October was highlighted with another big milestone for the project — the first real market integration with SmartyAds with the first genuine live traffic in our system. This live pipeline is handling impression events from Smarty SSP and Smarty DSP to run first SSP- DSP impression settlements as a real case scenario. With the pipeline, we also managed to run and test the new Papyrus Channel Monitor tool to display the lists of channels, blocks and billing information in one convenient UI.

12. Papyrus presented Papyrus Network — the developer first public blockchain designed for mass adoption and enterprise usage

Closer to the end of the year we have announced Papyrus Network — Developer’s First public blockchain — aiming to become an alternative decentralized application platform for Ethereum developers community to aid them to finally prosper with their initiatives and attract large customer base for applications, with a range of features but also maintaining compatibility with Ethereum.
Papyrus Network combines the best features of Ethereum and EOS avoiding their weaknesses and adding something different inside that we are proud of: Instead of energy-intensive Proof-of-Work we use lightweight Proof-of-Authority consensus and Separation of Powers and Instead of gas transaction fee model we implement Token Staking Model, where token supply represents total available network throughput and each token represents fraction of it.

May the New Year bring joy, peace, happiness to you and your family!

More big news is forthcoming. Papyrus is happening right now. Stay tuned!