BalanceAI — Weekly Report

4 min readMay 12, 2024

Introduction

Welcome to our weekly update, a summary of the most recent progress and achievements in our project. To access the previous update, please click on the following link: Weekly Report — May 5, 2024

1. We presented the concept of V0 — The Torus (BalanceAI Network — Mainnet)

“The Torus” represents the inaugural phase of BalanceAI Network, signifying the commencement of a convergence between AI and blockchain technologies.

This stage encapsulates the inception of a balanced and symbiotic relationship, as the inaugural phase of our journey unfolds. The Torus sets the base for seamless collaboration, innovation, and the realization of our collective vision.

V0 — The Torus (BalanceAI Network — Mainnet)

Introduction

balancedao.medium.com

2. We have started the migration process to a new domain

We are currently in the process of migrating our website to our new official BalanceAI Network domain. The site will be under construction for a brief period. Coming soon, we will begin publishing updated project information documents.

https://balanceai.network

3. ETH <-> BAI Bridge

Works are underway on the bridge infrastructure (with some community members as the bridge is going to be run independently by the community).

We are working on the Bridge v0 that would feature hardware wallet based authentication to guarantee security of all transaction and minimize any security risks.

We are also researching BEEFY (Bridge Efficiency Enabling Finality Yielder) to fully decentralize bridge services in the v1 version.

https://spec.polkadot.network/sect-finality#sect-grandpa-beefy
https://polkadot.network/blog/the-landscape-of-trustless-bridges-on-polkadot

4. Our V0 Testnet is fully operational

Beta Testnet V0 can be found at: rpc-testnet.balancedao.io

Explorer: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc-testnet.balancedao.io%2F#/explorer

5. First version of the new documentation is ready

At present, we’re deeply engaged in the meticulous process of documentation. Our focus lies in organizing, detailing, and clarifying vital information that underpins our project. With a keen eye for accuracy and clarity, we strive to ensure that our documentation serves as a reliable reference point for our team members and stakeholders alike. Through this concerted effort, we aim to streamline workflows, enhance communication, and fortify the foundation upon which our endeavors rest.

We are working on publishing the new documentation on our new portal.

6. Audit

We have established a commercial arrangement with the Auditor company (recommended by Astar team). We are currently working with them on auditing. It is a tedious process as we need to make sure V0 is a stable basis for all our next efforts. Work involves re-running all tests, get their feedback, fixing issues and run a full final audit.