Hi guys,
This week we met with the first development team of Creditbit. I must say that we had a very positive meeting, full of technical and content related ideas. They were thrilled that our team is taking over the development and supporting Creditbit 2.0. We now feel even more confident, approaching the development phase of our new ecosystem.
Below we have come up with a more detailed explanation, regarding individual smart contracts both technically and substantively, like promised in the previous post. These are listed according with the development plan.
CreditMC - A migration contract that will help us to migrate from old network to the new one with accepting the old coins and issuing new tokens.
- There will be a website that will give you a deposit address and a field where you will need to put your Ethereum address to which your new tokens will be deposited to.
- When minimal amount of confirms is reached, CreditMC contract will be updated and users will be able to withdraw the new Creditbits instantly.
Creditbit - An ERC20 compliant token with a lot of attracting features added on top of it.
- Fully compliant ERC20 implementation via working proxy contract, which means that integration will be simple and will work outside of the box for all community driven services that are standard compliant (Blockexplorer, webwallets,...) - Besides that, the additional benefit is that in case of an upgrade, this will be done without affecting the users, if a need for standard token migration occurs.
- The contract will be fully packed with security features that will help us in combat with possible hacks that could be attempted on the infrastructure itself.
- The core contract will be split into different accompanying contracts that will allow updates without migrating to the new contract.
- Migration strategy will also be prepared so we will be able to plan the future version without having to deal with standard headaches of migrating user balances.
- The creation of new Creditbits will be developed on an accompanying contract that will allow to set the cap of issued coins with a vote and community consent on CreditDao.
Credit* (NEW) - A top secret, new age way of coin distribution. We will present our ideas and implementation in the following slack meetups, where we will discuss with the community how to implement this great idea.
CreditDao - A DAO on top of Ethereum, which will act as a decentralised, community driven representative of users and network as a whole.
CreditIdentity(NEW) - Identity based contract where users will be able to link their public keys with their public information. This will be used to track history on the CreditDao and CreditBay, so we can implement a fair rating and reputation system for the community.
CreditBay - A decentralised commodity market on top of Ethereum, implemented with a series of smart contracts.
Other projects will be updated when we will figure out all the necessary things to move forward.
We have also figured out the first date in the road map that is coming when we have all ideas compiled. 8.march 2017 is the day, when users will be able to convert their first tokens.
We plan to finish and nearly polish the concept 14 days. Then you can also expect the final roadmap for our new project.
Future plan:11.01.2017 - By the end of the day, we will post an idea of what the new CreditBit should/will be like. DONE11.01.2017 - By the end of the week, we will establish channels, where the crypto community will be able to participate in the making process of our new ecosystem. DONE11.01.2017 - In the meantime, we will write down detailed explanation of each of the core entities which we will be posted in the beginning of the next week on this thread. Then you will be able to give us feedback so that we can compile the best version of Credit 2.0 together.
20.01.2017 - We plan to finish and nearly polish the concept 14 days.
