Testnet Cantillon gets supported by web3 foundation

We are excited to announce the upcoming first Encointer testnet called “Cantillon”. It is named after Richard Cantillon, the economist who first described the effect of monetary expansion on inequality around the year 1730.

For the development of this first testnet, Encointer got a grant from the web3 foundation. By mid-2020 this testnet shall go live and allow to bootstrap new local currencies with daily ceremonies. For technical details, please see the testnet specification.

There is a lot of work to be done. Encointer employs the Decentralized Systems team at Supercomputing Systems AG that also develops SubstraTEE, the privacy enhancing tech that Encointer will build upon.