Reddcoin Weekly Development Update
Welcome again Reddheads to another weekly update of Reddcoin Development.
This last week continued with more turbulence in the crypto-sphere as Ethereum and the DAO project were quite heavily impacted by an unexpected withdrawal of ether into a child DAO. While I am not going to comment directly on the issue(s) at hand or the actor(s) involved, it does raise some important points about trust and how ones ‘wealth’ should be stored.
Storing coins on a 3rd party service is probably the worst situation you could place yourself. As can be evidenced with exchanges like MtGox, Mintpal, Cryptsy that have since disappeared with user funds. The road to retrieving what was lost is then a long battle and usually fruitless. As I understand ALL the funds invested for DAO were stored in that single smart contract, making it a single point of vulnerability.
So when committing your hard gained worth to ‘trusted’ 3rd parties, spare a thought to how secure they are, the methods utilized and how do you protect your value.
The goals of Reddcoin include being able to transact safely on the Reddcoin network, and providing methods to do so without needing to provide all your trust in a 3rd party. This includes storing of RDD.
After the week ending with that small distraction, Reddcoin development continues to move forward.
- Added a few small tweaks from btc 0.10 into the current wallet.
- Discussions with interested 3rd parties on integration
- Continue contacting various 3rd party services to advise of the new wallet.
- Continue testing of block chain synchronisation on different platforms.
- Creating updated official bootstrap.dat and testing.
- Various code fixes based on feedback.
- Continue writing up of release notes and other documentation updates.
- Continue investigating the performance and behaviour of PoSV.
- Resume development of ReddID
This will be another short update this week, as I have a bunch of stuff I also need to get complete.
New v2.0 Wallet and testing progress
The new wallet is now in very good shape and I am feeling quite confident on both the status, performance and behaviour. I am hoping to push out a possible public release candidate of the wallet for operating on testnet. This will be a sandboxed version to run exclusively on testnet without having to change settings to do so.
If your interested, please PM me
I have pulling in the most recent of translations from Transiflex and created a test build. With just a few minor corrections required in formatting.
In preparation of a public release of the new wallet, I continue contacting and engaging with the various major exchanges and 3rd party services to advise them that we will have an updated wallet in the near future.
The new wallet is now running very well, with just a few adjustments made this last week.
My attention is now moving back to continue with my work on Redd-ID.
My current task is to prepare a technology demonstration of what work has been done so far. There is still a lot to do, so don’t take this as almost complete, but rather it is in a form that has some functionality that can be presented. All testing is being done on testnet to protect the integrity of the mainnet blockchain.
With the new wallet, there is up to 80bytes available for OP_Return transactions. This leaves a lot of scope for on-chain metadata
The goal also includes the ability to integrate into other 3rd party services very easily.
Serkan34 has continued to do an awesome job in preparing languages to import into the new wallet. This week ha has completed Norwegian (97%) and Ukrainian (94%).
If you think his work worthwhile, please make a donation to Serkan34 to show your appreciation.
This is the running list of desired languages, and if you like you can also check the overall running list on transiflex here..
This would be a great way to contribute.
- French (100% completed
- Spanish (100% completed)
- Dutch (100% completed)
- Russian (100% completed)
- German (99% completed)
- Chinese (99% completed)
- Turkish (99% completed)
- Swedish (98% completed)
- Danish (97% completed)
- Czech (97% completed)
- Italian (97% completed)
- Norwegian (97% complete)
- Portuguese (96% completed)
- Polish (96% completed)
- Ukrainian (94% complete)
- Icelandic (88% completed)
- Indonesian (87% completed)
- Romanian (82% completed)
- Hungarian (78% completed)
- Korean (73% completed)
- Tagalog (15% completed)
- Hindi (0% completed)
We are a global community, and cross many borders but boundaries do not need to hinder us.
The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.
If you would like to get involved and dont know where to start, reach out and we will see where you can jump in Deadpool has a great Trello site going with activities that need looking at.
There is still plenty to do, but I feel we are another step closer to a public release. A lot has been achieved already, and it feels like now is putting the polish on the final product.
I thank you all for your patience and support, it has been a long road, but the journey has been worth it.
So where ever you are, enjoy your week ahead
Keep on staking!