It has finally arrived, the long-awaited migration to a secure smart contract-capable blockchain is here. On Monday, 18th of March 2024, dHealth’s CØSMOS-based mainnet officially went live!
Before we dive into details, let’s first take a look at what CØSMOS offers, and why it was chosen to host dHealth’s cutting-edge ecosystem.
The CØSMOS Choice
In today's rapidly evolving crypto ecosystem, choosing the right blockchain platform to host one's ecosystem is a decision of the highest importance. Among the myriad options available, CØSMOS emerges as a compelling choice for projects seeking to unlock their full potential and thrive in the decentralized landscape. At the heart of CØSMOS lies its innovative approach to blockchain interoperability, scalability, and security, offering a comprehensive solution that addresses the diverse needs of modern applications.
Interoperability stands as one of the defining features of CØSMOS, setting it apart from traditional blockchain networks. In a world where siloed platforms hinder collaboration and connectivity, CØSMOS breaks down barriers and fosters seamless interaction between independent chains. This interoperability enables projects to leverage the strengths of multiple blockchains, accessing a broader range of assets and functionalities while maintaining sovereignty and security.
Scalability is another key consideration for projects navigating the crypto ecosystem. With transaction volumes reaching unprecedented levels and user demands for real-time processing growing exponentially, scalability is no longer a luxury, or a secondary objective—but a necessity. CØSMOS addresses this challenge head-on with its innovative consensus mechanism and modular architecture, enabling high throughput and rapid transaction finality without sacrificing security or decentralization.
Because of the mostly financial nature of the blockchain industry, security is certainly the most important factor to consider. CØSMOS prioritizes security at every level of its architecture, employing robust cryptographic protocols, Byzantine fault tolerance, and rigorous validation mechanisms to safeguard the integrity of its network. By providing a secure and resilient foundation for decentralized applications, CØSMOS empowers projects to innovate with confidence, knowing that their assets and data are protected from malicious actors and unauthorized access.
The Migration Process
Central to dHealth's migration to CØSMOS is the introduction of the Token Swap Bridge – an innovative mechanism designed to facilitate the seamless transfer of DHP tokens from the existing dHealth network to the new CØSMOS ecosystem. This bridge serves as a gateway between the two blockchains, enabling token holders to exchange their legacy DHP tokens for an equivalent amount of new tokens on the CØSMOS network. The exchange rate is 1:1.
Once the user sends the legacy DHP tokens on the legacy network, and provides the CØSMOS address, the user will receive their CØSMOS DHP tokens, on their CØSMOS address. The window for exchange is 1 month. CEX users will not need to perform any actions as the migration of their DHP tokens will be automatic.
The bridge is only available for the native dHealth network, which means ETH and BSC DHP tokens will need to be either moved to a CEX(P2B or MEXC), or moved to the native dHealth network, via the manual bridge, to perform the CØSMOS bridging.
The migration process is simple yet robust, ensuring the security and integrity of participants' assets throughout the entire process. Token holders are required to visit the official dHealth website, where they will find detailed instructions and guidelines for initiating the migration process. Detailed instructions will be posted on the 18th of March.
Upon completion of the necessary steps, including the installation of a CØSMOS wallet and the initiation of a token swap transaction, participants will witness the transformation of their DHP holdings into CØSMOS-compatible tokens, ready to unlock the full potential of the new ecosystem!
The legacy network will continue to operate, and the team will operate a node for the next 3 months but after that the functionality of the legacy mainnet is entirely dependent on the node operators.
The team will, however, maintain a static archive, an explorer plus a node that is serving the state database, but not mining or relaying any new blocks—permanently.
New Mainnet Parameters
Token Supply Details
The total supply cap for DHP tokens will remain at 2 billion, inclusive of all tokens currently in circulation across Ethereum and BNB Chain. At launch, approximately 1.8123 billion DHP will have been minted. To make provisions for future staking initiatives on the new dHealth Network, we will burn 200 million DHP, or 10% of the maximum supply, during the migration. Consequently, 1.6123 billion DHP will be available on the new dHealth Network on the launch day.
Staking and Inflation
The new dHealth Network on CØSMOS will continue as a proof-of-stake blockchain, with security provided by DHP holders delegating their tokens to validator nodes. Staking rewards on the CØSMOS blockchain will vary between 5-10% of the current supply per year, distributed constantly to staking accounts, with an unbonding time of just 24 hours.
Validator Nodes
The network will launch with more than five validator nodes, inviting all interested parties to participate in the decentralization effort by running a validator node. The current setup allows for a maximum of 100 validator nodes.
Governance
The CØSMOS ecosystem's advanced decentralized governance model has been adopted, featuring a governance module currently assigning more voting power to those holding more significant amounts of DHP. We are currently refining the voting process for dHealth Network.
Smart Contracts and Tooling
dHealth Network has integrated COSMWASM for smart contracting within the CØSMOS ecosystem. We've also adopted the Big Dipper Explorer for launch, and initial wallet support will include Leap Wallet and Keplr Wallet.
Looking Towards the Future
One of the first steps that will be undertaken by the team to make this statement a reality is to initialize the on-chain governance for the dHealth ecosystem, which insofar has been not technologically possible. Although introducing governance might seem like a small step in terms of all that dHealth aims to deliver, it will have a profound impact on the dHealth ecosystem, and the future of the healthcare industry.
Other 2024 goals that dHealth team has set forth are:
• Develop blockchain-based applications on CØSMOS accessible for users and patients who are not web3 native by allowing them to open a wallet using their Apple ID or Gmail address
• Enable a user-controlled Digital Identifier (DID) that can be linked to existing IDs in healthcare
• Tracking and Tracing will be made available as a standard feature on dHealth. It will help pharma and medtech companies to prevent counterfeit products etc. (dHealth continues to support the Swiss Tropical and Public Health Institute in tracking rabies drugs in Western Africa and partners tracking biosamples)
• Open a liquidity pool on OSMOSIS, the largest DEX in the CØSMOS ecosystem
• Stablecoin Integration to promote more advanced DeFi solutions across the healthcare sector
• Migrate the CENTIVA LIFE application (iOS/Android) to incentivize individuals to share their data for treatment monitoring, post-market surveillance, and outcome-based reimbursement, which will be advancing not just within CENTIVA, but also our Health-2-Earn web app UPDATE Health.
With the support of its vibrant community and the innovative capabilities of the CØSMOS network, dHealth is poised to unlock new frontiers in healthcare, ushering in an era of empowerment, accessibility, and inclusivity for all.
Conclusion
In the ever-changing world of blockchain, dHealth's transition to CØSMOS marks a significant leap towards redefining healthcare. dHealth’s migration leverages CØSMOS' strengths in interoperability, scalability, and security, steering us towards a vision of healthcare that is not only decentralized but also universally accessible, efficient, and fair.
As we embark on this journey together, we're not just envisioning a new future for healthcare; we're actively creating it, promising improvements that will benefit generations.
Our heartfelt gratitude goes out to everyone who has supported us through this journey. Whether you've been with us from the start or are just beginning your journey with dHealth, your role in this transformation is invaluable. Here's to shaping a healthier, more empowered world together!
