Year-end Review of Datamall Chain in 2022:From 0 to 1

Less than one year after our testnet was launched, Datamall Chain has reached the landmark DAU of 10K. It's a remarkable achievement, especially in a bear market. Our success has been largely attributable to the rapid and steady development of the Datamall Chain ecosystem. This article will look back at the important milestones we achieved in 2022 and provide a detailed recap of our progress.

Testnet

2022 was a breakthrough year for the underlying technology of Datamall Chain. After the launch of testnet at the end of January, three iterations have been completed in succession. Currently, the functions required for the official beta version of the mainnet are complete:

· The DMC Scan for browsing and querying block information is now running smoothly. Users can view the transaction status, hash value, resources, block height and other common information of any transaction.

· The DMC wallet plug-in allows users to access their DMC wallets through the browser extension program, which can be used to interact with decentralized applications on Datamall Chain.

· Node operation and maintenance tool can realize automatic node status detection and regular automatic backup through backup nodes.

BP Recruitment Plan

At the start of the year, Datamall Chain spent nearly three months expanding its blockchain nodes. Its active nodes are now over a dozen countries, including Singapore, the United States, and South Africa, among others.

As in the case of other decentralization projects, blockchain network security is also determined by the degree of decentralization. Highly decentralized systems can prevent malicious attacks and hard forks. As such, Datamall Chain lowers the threshold of access to encourage and support individuals to become DMC miners and earn rewards by providing storage space and the minimum equipment requirements for nodes are 8 cores, 16G memory, and 200G solid state disk.

Token Incentive

To establish an efficient decentralized storage exchange market, incentives are needed to stimulate real supply and demand for decentralized storage.

Datamall Chain has created an incentive for real storage transaction behavior, called Real Storage Incentive (RSI), which is used to reward miners who provide liquidity and users who engage in storage transactions. It has also introduced a repurchase destruction mechanism which is implemented through the ABO (Asset Buyout) model.

At the beginning of the project, the DMC governance allocation is used to buy back and burn RSI from Miners. In the later stages, the transaction fee (DMC) will be used to buyback and burn RSI. The destruction of RSI will cause the DMC token to enter a deflationary state and thus support the token value.

Datamall Chain Ecosystem

Datamall Chain has absorbed large enterprise miners, strengthened linkage and communication with institutions in the Web3 industry, and built a strong ecosystem.At the end of November 2022, the Datamall Chain Foundation announced strategic partnerships with top-notch cryptocurrency exchanges OKX and Gate.io, cryptocurrency mining companies BIT Mining and BCT Inc, and the world’s leading Web3 service provider IPFSMain. These five institutions will actively support the decentralized storage ecosystem built by the DMC Foundation and Fog Works, a Web3 decentralized application company.

The addition of large institutions to the DMC storage ecosystem has not only significantly enhanced the DMC network, but also affirmed the value of decentralized storage, thus accelerating the industry-wide transition to Web3.

Incentive Program for Developer

Datamall Chain has established an open mechanism to attract independent developers and other DeFi teams to participate in the DMC ecosystem and improve the utilization of existing ecological facilities, DMC applications, and application scenarios. In the first half month after the release of the incentive scheme, many teams have made inquiries and been in deep communication with our tech team. The DMC Foundation will subsidize qualified projects with financial incentives and free promotions.

In 2023, Datamall Chain will launch a beta version of its main network, with the goal of increasing the main network's proportion of storage transactions and building a more powerful ecosystem. Breakthroughs are expected to be made in the following areas:

First, DMC will expand its nodes to South America, Europe, and Australia to make Datamall Chain more decentralized, improve network performance, reduce information loss and theft caused by centralized storage, and maximize the integrity and security of users' information and data, so users can truly own their own data and the value created by it.

Second, more users and miners will earn crypto rewards through Datamall Chain, utilize our Store-to-Earn program, and accumulate income and wealth while solving storage problems.

Third, more developers will develop their own projects based on Datamall Chain and obtain sufficient funds and resources for development in the ongoing developer program. Datamall Chain will take the DMC wallet plug-in as the entrance to connect the entire ecosystem, and users can experience all projects of the DMC ecosystem through their wallets. The cross-chain bridge function will also connect Datamall Chain with other blockchains and realize the common development of the Web3 world.

Finally, Datamall Chain will collaborate with more top-notch projects in the industry to achieve a complement of advantages and build the foundation of Web3 together.

Here's to a great 2022 and an even better 2023!