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"Hi Everyone,
As you know it's Friday, and it's time for an update
.First of all i want to announce everyone that the past 2 weeks have been pretty stressful for us and fulfilling at the same time.
I would like to go trough the major changes:
Blockchain:
The Swazm protocol/virtual machine has been updated in order to support some operations that will allow us in the near future to do order matching in a totally decentralized way, for RED.
The MASTERNODE list was updated with 2 major partners that own data centers,
- MAGUAY (maguay.ro) - that is one of hardware providers for the European Organization for Nuclear Research
- EUROPE5 (europe5.com) - that is another hardware distributor, as well as Google reseller for services.
Another huge improvement is that we decreased the block generation interval from 5 seconds to 3 seconds as well as quadrupling the TPS
RED Financial:
- As we moved closer to the launch, Braintree decided that won't support us anymore so all the payment integration that we did so far which was complete is now obsolete, and we are waiting for several new payment provider contracts that will be implemented as a replacement/backup.
- Some of you feel that the 1e fee came unexpected and without explanation:
- while this was discovered in the beta group and announced in the main group and caused some misunderstandings, i want to explain the reasoning behind it.
The regulators in different countries(including Romania) require us to do AML periodically, and we need to report changes when operating cryptocurrencies (card changes and things like that).
Why 1e and not less? Well it's pretty simple, payment providers require us 0.35e and between 1-5% per transaction plus VAT depending on the country your in, which varies, in order to cover everything we need this sum, we want to remind everyone that trading on RED is completely free and will remain free.
There are a lot of reasons behind it, one preventing people that are not truthful about who they are and also that can damage the ecosystem, we take these kind of things very seriously as it can damage an existing company, RED, SWAZM and the people working on them.
- we also had internal audits about the financial flow inside RED, from traders, consumers and producers, and everything was done in order to guarantee the financial security of everything.
RED Development:
- in the last 2 weeks a lot of improvements have been made in regards to usability/UX/UI flows, and a lot of other things that can be viewed item by item in our git or in the release notes that will be posted following this message.
- as the project gets bigger and bigger, we felt the need for refactoring as well as establishing internal development guidelines so that less and less bugs/issues appear in the development/release cycles.
- we did a separate layer for metering and developed internal tools to monitor the production/consumptions in real time, which was mandatory for our colleagues that support the consumer/producers in real time with anything that they need from enrolling to contracts.
- we've added 3 more developers in the last 2 weeks to our team as we felt the need for manpower as the project gets more and more complex by the day.
- there are a lot of things that are going on, things that are not viewable from the app/web view, but are mandatory going forward.
- we need to agree that the apps are looking and feel better and better in terms of stability and usability.
RED Security:
- as we deal with people's tokens which in end are their financials, we've developed tools and procedures that will handle the mwat that is in the platform, this means that we have procedures that guarantee that no mwat is lost when sending to one of the addresses that are listed in the apps (like beta testers sending mwat to the app), no mwat is lost this way, and we want to ensure that those who sent the mwat, they will get it back.
-> PLEASE DON'T SEND MWAT FROM ANY KIND OF WALLETS <-
You're just making the dev team busy in order to return them.
- We've tested security scenarios like gaining access to the network and trying to retrieve funds, which were not successful, in order to tighten even more security we're also doing external pen testing.
RED Realtime update channels:
- We're working on a new update system, that will notify you every time when mwat/kwt is flowing from.to your account so that you will be updated all the time (email/push/sms), this will be also useful for staking mechanics and ECF monitoring
- we have also developed a system that tracks all the mwat trades from/to Ethereum and inside Swazm to give us a better understanding of what is going on.
Timeline:
- as we get closer to the launch, you may experience app downtimes, loading screens and unexpected behaviour due to the fact that we are updating everything to the Swazm mainnet.
- as we put in place the repository that will hold all of your keys you will be able to create your final accounts and do the final kyc (for this we require updates from the payment providers)
- after the accounts are completed, the staking date will be announced, everyone will receiver periodic notifications from the above system as we get closer to that date.
- the expected timeline for everyone to create their accounts, is in the next weeks after easter, after that the staking will begin.
MISC:
- we've also been busy integrating consumers/producers in a custom manner as we don't want to launch a platform that has no producers/consumers enrolled, and everyone not benefiting from the initial KWT reward.
- we want everyone to understand that we try to update everyone on Friday, please try to understand that if something is discovered in the community any other day of the week, is not going to go unnoticed, but please wait for an official update, these things are discovered because we are open and we don't try to cloak anything.
We believe in decentralization and transparency.
I feel like there are a lot more things to be covered, and we will try to add more in a article that will also summarize everything written here and more.
We want to let everyone know that easter is coming soon, and our devs have families and want to be close to them, so the next sprint might be a little slow.
Last but not least we want to thank our beta tester community that has been so receptive and it's helping us test things inside our apps.
Thank you!"
