History

Over the past three years, Fibonacci has explored many aspects of chain technology and ecosystem.

In February 2021, Fibonacci chain implemented the scalable solution SBFT based on PBFT. The SBFT solution solves the scalability problem of the blockchain and can support the normal operation of 209 replicas (including 64 Byzantine fault-tolerant replicas) worldwide. Compared with PBFT, SBFT can achieve higher throughput (up to 2 times higher) and lower latency.

After about one year of development, at 0:58:12 on February 1, 2022, the genesis block of the Fibonacci network was generated on a small server in the Fibonacci Foundation Experimental Laboratory in Singapore. It generated 1.256 FIBO rewards in a 25MB block space, marking the practical implementation of the Fibonacci SBFT solution.

Fibonacci's original goal was to create a general-purpose blockchain. Over the past two years, general-purpose blockchains have made technological breakthroughs in performance, scalability, and security around coordinating the "blockchain trilemma". The demand for blockchain expansion and the potential demand for blockchain interoperability have promoted the rapid iteration of cross-chain technology and Layer2, sharding technology.

After completing the underlying infrastructure upgrade, in 2022 Fibonacci turned to ecological construction. This year, thanks to Fibonacci's high-performance architecture, a large number of ecological applications have been deployed on Fibonacci, including FiboScan browser, Mirror1.0, FBridge1.0, FlySwap and other applications.

It takes time and user accumulation to form a stable ecosystem. It also requires a strong technical team and community support to jointly promote application development and implementation. After two years of technological development and ecological construction, Fibonacci has made good progress. The latest stress data testing shows that the theoretical upper limit TPS of Fibonacci chain is 100,000, the block interval is 3s, and the number of addresses holding coins exceeds 100,000, further verifying the feasibility of SBFT technology. Fibonacci already has the ability to support blockchain applications.