Ethbits Development, October Update
Hello our dear users and investors. I very much thank you for your support. My name is Dmitry and I am the tech lead of the Ethbits project.
Perhaps everyone would agree if I say when you are really passionate about something – you forget about everything else. We’ve been so immersed into the development of iTrade that we forgot the most important thing – to keep you, our investors and users, updated on this whole development process.
I ask you people to forgive us for this omission. It will not happen again. Every month, (starting from today) October 25, we will be posting in our blog all the reports about our finished, ongoing and future work.
Now more specifically about work.
Ethbits Local:
UI/UXWe have taken into account all the feedback and wishes of our users regarding the current design, and going to present you a new design of the project. I’m sure it will be equally handy for the experienced “cryptoworld” inhabitants and to the newbies. We will make 3 versions of trades: Buy – to buy cryptocurrency for fiat money; Sell – sell cryptocurrency for fiat money; Exchange – immediate exchange of cryptocurrencies between themselves. Sure you are going to like the simplicity and conveniencies of the new admin-panel.
XMRAt the moment of launching of the new version of Ethbits Local we will also add XMR. Which currency do you want to add next? Please write in the comments or in our group in Telegram.
Countries and currenciesWe will expand the opportunities for creating offers for the majority of the countries and will add the option to use in dynamic formula the rates of different cryptocurrency exchangers or currencies from coinmarketcap. Your rates could always be dynamically manageable according to the rate you prefer.
LimitsWe are concerned about legality of our project, therefore any attempts to launder money through our service will not succeed. We have done our best to increase the limit as much as it is allowed by law. Perhaps some do not agree and ask why would I give out my data to this project? Answer is simple – verification of your identity and personal phone number is not a problem if you sell/buy cryptocurrency legally.
Favorites, avatars, notifications, best-search…And many many other small improvements, that will help you to trade even easier.
All changes will be applied on November 13, 2017.
Ethbits iTrade: A New EraiTrade will be half decentralized thanks to ExchangeDB technology. Platform will be oriented on developers, traders and regular users. This technology will be entirely opensource and be using our own blockchain. We will introduce this technology in the beginning of January. Unfortunately I cannot uncover development details because me and my team need to discuss legal copyright questions and patent this technology. Only after that it will show up in the public repository GitHub.
User? Trader? Newbie?iTrade will include: Exchange, Copy Trading feature and Social platform for trades. Regardlessly of your level of knowledge in cryptocurrencies – iTrade will give an opportunity to anyone who is willing to dip into the exciting world of trading.
When mooooon?At this moment we have finished the basic functional of ExchangeDB, by the end of October we will finalize the visual part and design. Closed beta version – middle of spring, launch for public access – middle of summer 2018.
SecurityWe divide Web applications into 3 parts: legal service, main application and wallets.
Legal service – we will use our own application to verify the data (
https://id.ethbits.com). Your data won’t be kept on the same server with main application.
Main application – access to the main server will not be made by ssh key or login/password. Hack from the outside is not possible.
Wallets – thanks to the ExchangeDB technology no one will be able to substitute the data about your transactions.
For now it’s all I can tell publically. All the list of technologies will be published on the iTrade landing page.
Pre-registration for traders and people who want to participate in closed beta tests will start after the publishing of legal service.
