KLC Progress Report

Our development team is making steady progress with Kaiba Lightning Chain (KLC) and is on time to deliver the product in Q1 of the 2022 fiscal year. Below is a progress report of the latest updates. For details on how KLC operates please see the following article: Kaiba Lightning Chain

Transaction Testing

Testnet Explorer

We have conducted a vast amount of test transactions with great success, and broad degree of transaction types. You can follow the tests and production blocks as they happen using this temporary blockchain explorer we have made:

http://klc.live:3001

Whilst we’re still actively upgrading the codebase and methods it still provides an interesting viewpoint of Kaiba Lightning Chain.

 

Screenshot of the temporary blockchain explorer for testnet

Basic Transaction Tests

Both regular and complex transactions on the network are meeting the design of extremely low gas costs, averaging less than 0.006 $KAIBA (the native token of the blockchain used for gas, as $ETH is to Ethereum).

Below is a screenshot of a common transaction conducted on testnet. The gas cost was a mere 0.000042 $KAIBA.

 

Common transaction of token transfer on Kaiba Lightning Chain testnet

Complex Transaction Tests

We have also run tests on transactions that interact with complex smart contracts. As expected there is no significant loss to speed or transaction cost.

As an example of this the first Non-Fungible Token (NFT) was deployed on the testnet. Even for a contract that is quite complex the gas expense was 0.005 $KAIBA (mere fractions of a cent). The transaction was confirmed in exactly 3 seconds, well below the 4 seconds lifespan of each block, meaning transaction can be submitted, executed, and finalized, all within the same block.

The transaction details can be viewed here and below is a screenshot of the block and transaction information.

 

Block and transaction details for an NFT deployment on Kaiba Lightning Chain testnet