Penta (PNT) Biweekly Progress Report from October 1 to October 14

Technological Development：

Penta Chain

1.Basic code review is underway for the Penta testnet. Code analysis using analytical tools such as gofmt govet golint, for non-compliant and unreasonable code adjustment, is ongoing: progress is 80%.

1. Modifications are being made to the solidity compiler to form a Penta solidity smart contract compiler. This will be able to support Penta smart contract compilation and new features such as the Penta account model: progress is 50%.

3.Increasing the default initialization and configuration data running on the test network. Connection to the corresponding network environment through startup parameters is ongoing.

PC Wallet Component and Graphical Interface

Development of the PC wallet user interface component is proceeding as planned. The main task in the first part of this month was to process the verification and development automate-test of the wallet project. The current overall progress is 87%. The subsequent tasks are as follows:

1.Complete the underlying development of penta-js-sdk’s WebSocket mode.

2.Complete the development of the wallet user graphical interface RPC mode and start the development automate-test stage.

3.Wallet user graphical interface IPC mode test is in progress, the current progress is 90%.

4.Code review progress is 20%.

Penta Blockchain Explorer

Design and development of the Penta Blockchain Explorer was completed as planned in the first half of this month. The current overall progress is 98%:

1.Completed the Java version and testing of penta_sdk.

2.Completed blockchain explorer development and testing.

3.Completed the main chain RPC, WEBSOCKET interface joint test.

4.Completed code development and testing.

5.Currently reviewing and proofreading documents.

Marketing Activity：

【1】On September 28, 2018, Penta CEO David Ritter was invited to attend the 73rd United Nations General Assembly and participate in the “Blockchain as an Innovative Financing Mechanism” side-meeting, co-hosted by the United Nations Mission of Georgia and the Mission of France. At the meeting, David revealed that Penta is currently working on a blockchain project with UN peacekeeping forces. Penta’s work with the UN on this project is ongoing. In addition, David has said in recent interviews that Pent hopes to provide make meaningful contributions through blockchain and cryptocurrency financial markets to the UN’s efforts to achieve the 2030 Sustainable Development Goals.

【2】September 30, 2018: Penta CEO David Ritter was invited to attend the first blockchain summit and launch ceremony for the 2018 Rui Coins Exchange in San Gabriel, part of the greater Los Angeles area. David congratulated the Rui Coins team on successfully securing a 50-state license to be a compliant digital currency exchange in the U.S., and drew widespread praise for the technical innovations of the Penta public chain and recent Hollywood project with Union Editorial, which he presented on stage at the Rui Coins event.

【3】October 5, 2018 (EST), Penta CEO David Ritter was invited to attend the 2018 Blockchain Summit hosted by Global Blockchain Foundation in San Francisco. There he joined a panel discussion moderated by an editor from TechCrunch, including a senior investor from Y Combinator, IOTEX founder, Chainfund Capital founder, GBIC senior partner, and Signia Venture Partners investor. The panel discussed differences between the United States and East Asia in terms of blockchain investment. David emphasized his belief that blockchain is a global movement and marketplace, with many market centers, including the US, China, South Korea, the UK, and more. Asked by the moderator whether Americans have a myopic view of blockchain being centered in the U.S., David answered, “Yes, and I encourage everyone to take note of the innovations coming to the industry from the parts of the world. In many innovative technologies, including blockchain and alternative energy, countries in East Asia, including China and South Korea, are seeing significantly more investment and support from governments than we have in America. In this country, while we debate whether or not climate change is real, the Chinese government is pouring hundreds of billions of R&D dollars into alternative energy. Governments in Asia are also investing billions of dollars into supporting the development of blockchain technology. So, in some key areas, we are falling behind.”

【4】October 10, 2018 (Santa Monica, California): David and Penta Ecosystem Leader, Alan Finkel, attended the Blockcon Conference in Santa Monica, California. The event was attended by many high profile speakers, including Muhammad Yunus, Nobel Peace Prize winner and founder of the Grameen Bank. David spoke with Professor Yunus during the conference on ways that blockchain technology can be used for social impact and to solve difficult societal problems. David also noted that Penta is currently in discussions with two Bangladeshi banks to deploy blockchain as a service (BAAS) solutions (Mr. Yunus is from Bangladesh). Inspired by his conversation with Professor Yunus, David posted on Twitter and Wechat about Penta’s commitment to participate in “Blockchain for good” projects. Penta is currently working with the United Nations and city governments on blockchain-for-impact projects.

【5】October 11, 2018: The Chinese circular People’s Daily published an in-depth report entitled, “Blockchain serves SMEs, enabling the development of the real economy.” The article mentions Penta’s DSC consensus algorithm, expressing a positive view on the DSC algorithm’s innovative approach to solving the consensus problem and scalability for blockchains. The paper argues that the main technical barrier to large-scale application of blockchain is the lack of a commercially viable consensus algorithm. Penta’s DSC, as the article notes, is positioned to strike a balance point at the center of the consensus trilemma (also called the impossible triangle). In this way, DSC achieves a balance of security, efficiency and decentralization. Penta has a real opportunity with DSC to lead the pack for next generation base-layer blockchain protocols, which will form the underlying infrastructure of the blockchain powered economy.

【6】October 13, 2018 (Seattle, Washington): Penta CEO David Ritter was invited by the University of Washington Blockchain Society to attend its 2018 Blockchain Exposition. David joined a panel with students and blockchain project developers to debate whether “Bitcoin is a Fad”. During the panel, David noted how important university students have been in propelling the Blockchain Movement. “University students from all over the world”, he said, “are bringing people together to solve societal and economic problems with blockchain and innovative ideas”. Penta Ambassador, Ethan Finkel, is the Outreach Coordinator of the UW Blockchain Society. Penta welcomes the opportunity to work with universities all over the world as part of its continuing effort through Penta Labs to expand educational outreach and engage in academic inquiry connected with blockchain innovation.

Community Activity：

【1】October 1, 2018 (Korea): The Penta community in Korea published a magazine article about Penta, following an interview between Penta CEO David and Korean media during David’s trip to Seoul Korea for the Huobi Chain event. For more information on the Penta community in Korea, please check out the Penta community Kakao Talk group.

【2】October 1 to 3, 2018 （China）: In order to celebrate the National Day holiday with Chinese community members, Penta created the H5 activity, “1.3 billion people are on holiday, but this group of people…” It described how people working in the blockchain space were spending their holidays during the week-long National Day break. The post received nearly 10,000 retweets in Wechat moments, as well as the strategic cooperation and support of more than 40 media outlets and 5 blockchain communities. Retweeters found nine post credit scenes in the H5, and received 1,176 PNT in rewards as National Day prizes. More than 1,000 people participated.

【3】In first week after the National Day holiday, Chinese community members were suffering from the post-holiday blues. Penta Chinese community launched a “save the youth” campaign offering a gamified way to help Penta fans counteract their holiday blues, and win rewards. This activity attracted 300 people. As 2018 officially enters its final quarter, Penta hopes to continue offering good and positive news to the Penta community, and to move forward with its technical development timeline.