2018 was an exciting and challenging year for Dimensions Network. Despite the ongoing bear market, we have made substantial progress in developing the platform. We are looking forward to an eventful 2019!
Here is a roundup of what we worked on in December as we wrapped up 2018…
The Multi-user accounts for institutional investors and private trading groups are nearing completion. We have been working to improve capabilities and access levels that will allow teams of traders to work together safely and securely, and the feature is getting much, much closer to being completed.
The process of building out this feature has inspired and opened the door to other noteworthy features; and while we refactor code to finish multi-user accounts, we are also laying the foundation for these future developments. Keep an eye out for more information soon!
TOKEN DISTRIBUTION AUDIT
We compiled all token sale, KYC and referral data to construct the token distribution, and a meticulous internal audit was completed to ensure that the distribution was implemented free of errors.
A number of contributors had their wallets hacked or lost since they contributed, and we worked with them to ensure that they received their tokens. This generally involved an enhanced KYC and/or additional cryptographic verification proofs.
If you have not done so already, there is still plenty of time to participate in our KYC program for a reduced 2.5% DST bonus. These bonuses will be sent out monthly to anyone that completes the process.
TRADING PAIR GENERATION
As a consequence of our database sharding work in November, we have a promising new feature coming soon: Trading Pair Generation.
The current codebase allows for new trading pairs to be automatically created in a matter of seconds, and as a result, users can be allowed to request brand new trading pairs.
For example, if we had the following trading pairs on the platform, BTC-ETH and BTC-IOTA, a user could create a new trading pair ETH-IOTA. This would save trading fees and let users create a trading platform with the specific trading options that they need.
We are yet to make a final decision on the best mechanism to enable this feature. We must protect against abuse, and ensure that the system is not flooded by thousands of new trading pairs which no one wants to use. Possible options we have considered so far include:
- A significant fee to create new trading pairs
- An activity threshold where if a new trading pair is not used, then it will automatically be removed after a specific amount of time
- An automated community / DST voting system
Once we have finalised the best way forward, we will make a formal announcement on the status and intergration of this feature.
DEPOSITS AND WITHDRAWALS
Work continues to integrate the Deposits and Withdrawals module into our Alpha platform.
COLD STORAGE AND USER HARDWARE WALLETS
We have been exploring several methods of keeping Dimensions Network as safe as possible; in particular, storage of company and user funds. This has led us to reconsider how users can access the Dimensions platform. Our current school of thought is centered around two different user sub-account types:
- User sub-account which holds cryptocurrency on a long term basis for trading. This is what you see elsewhere on all major cryptocurrency exchanges, where you deposit funds, trade, and withdraw as required.
- User account which holds cryptocurrency on a short term basis, with automatic withdrawals. We envisage users connecting their hardware wallet to our system; the user sends in some funds to make a specific trade, and once the trade is complete, the system will automatically send the new coin/token back to their hardware wallet.
Item 1 is already built, and we will look to add Item 2 as soon as a gap opens up in our schedule.
The majority of our live testing takes place on the Ropsten Ethereum test network. This is one of the many public test networks which allow developers to test their systems before launching. This particular network receives updates ahead of the main network, and is already running the much anticipated Constantinople hardfork.
As part of our initiave to support developers and the community we are setting up a Ropsten Faucet which gives free Ropsten ETH. Developers simply need to enter their Ropsten address on our website and they will receive free testnet tokens.
We are performing final testing on the faucet and will make an announcement once it is ready.
MANY MORE GREAT THINGS TO COME
The team has hit the ground running in 2019 and we are already looking forward to announcing some more updates to the Alpha platform very soon. Check back from time to time to see our progress.
Thanks for being a part of our community!