According to official sources, on December 2, 2023, Layer1 public chain Waterfall Protocol's seventh test network completed 2 million transactions in 5 hours and demonstrated the superior performance of the concurrent DAG structure public chain. The latest test performance results show that the seventh test network's processing speed has reached 5,000 tps (transactions per second). The upcoming eighth test network is expected to achieve ultra-high processing performance of 10,000 tps. The official main network will be launched after the completion of testing on the eighth test network and will provide services to the public. It is reported that Waterfall Protocol is currently preparing for the token issuance in the first quarter of 2024 and is collaborating with several Launchpad release platforms.

Waterfall Network, a layer-1 blockchain developer, has raised $2 million in a Series Pre-A funding round led by ByteTrade Lab. The funds will be used to accelerate the launch of its mainnet, which is scheduled for Q1 2024. ByteTrade conducted an extensive six-month due diligence process before investing in Waterfall, which recently passed the test. Waterfall's smart contract platform is being developed in collaboration with BlueWave Corp, and uses a "one person, one vote" consensus mechanism to ensure fair governance.