Kibo Platforms’ Beta Version Be Launched in the Beginning of May

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Five months have passed since the ICO of Kibo Lotto was finished and the Kibo team has announced the launch of the Platform’s beta version.

What to expect from it?

The Kibo Beta is a fully accomplished release of the platform.

The first version of Kibo offers four types of lottery including several options like daily, weekly, and instant drawings having the embedded system of a daily bonus ticket for each player. However, since the Ethereum network still has the unresolved problem of scalability, several limitations of gas in a block and the number of processable transactions, right now the team is unable to make Kibo available for everyone.

Therefore, the beta version of the Kibo Platform will be available only for a limited number of users. Moreover, conditions of the platform regular functioning and promo actions will differ from those at the launch stage of Kibo’s final version. The funds collected during the ICO and designed to make the prize money will be only partially used in the beta version.

Nevertheless, even the beta version will let the user fully enjoy advantages of the KIBO Lotto Platform, such as participation in free daily drawings.

The Platform will be launched in stages

Prior to the platform operation in the real net, the final closed testing will be held in Testnet, in which 100 of partners will be able to participate. These partners will be chosen randomly.

The test is aimed at defining the unexpected problems and possible flaws prior to the platform’s launch in the real net. Kibo team is going to collect feedback to be sure that the platform is ready for the launch both in terms of engineering and the user interface.

Having completed the works in Testnet, Kibo will be ready to launch the beta version in Mainnet. Exchange of gas in a block is an essential condition for making this stage possible. To upload the KIBO contract to the real net, the gas limit exceeding 4.7 million is required. At present, despite the Ethereum has fully restored its position after DDoS attacks in October 2016, the gas limit is still 4 million, which is insufficient for KIBO. Observing rapid development of the net during last few months, it can be said that this issue will be resolved in the nearest future and will not affect Kibo’s plans.

On the 27th of April Kibo will publish the detailed information on the conditions and date of the beta version’s launch. The beta’s launch is tentatively scheduled for the beginning of May.

 

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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