Thank you for participating in the AMA session with Pundi X co-founder and CEO Zac Cheah.
For those of you who may have missed it, the live recording of the AMA session held on July 3 at 10:00 am GMT+8, tackling Q2 progress and addressing questions and concerns by the community members, can be viewed here. A side note that today’s AMA video quality and setting was not ideal. We acknowledge this situation and will make improvement for our next AMA session.
You may also find a summary of the Q2 progress presentation as well as all the detail Q&A below.
## Pundi X Q2 2019 Highlights
* Pundi X has integrated more public chains into our products. In Q2, we completed integration of Binance Chain. NEM chain is in the work. As of today we’ve launched BNB, the Binance Chain native Coin and XEM, NEM native coin on Pundi X payment platform. We will integrate at least one more public chain in Q3.
* The transactions on XPOS for Q2 is 15.5 million in USD, which is close to 300% quarterly growth. The number of transactions is 29,367, which leads to a 11% growth QoQ.
* XPOS has successfully received FCC and KC certifications. A new certification for Latin American market is on the way. * To expand XPOS footprint, Pundi X’s integration with a new leading mainstream point-of-sales device is in the work. Stay tuned for the announcement.
* Pundi X Open Platform was launched in May, 2019, which now supports ERC20 and BEP2 token listing. Moving forward, we will continue to support tokens from other public chains.
* A 3,000 XPASS order from DigiX, a gold-based token, and a 10,000 XPASS order from BitCobie this quarter.
* XPOS is spread in use in over 30 countries. We’ve published a map of XPOS location of self-report XPOS merchant directory. You can find a list of selected XPOS merchants at [https://www.pundix.com/products\](https://www.pundix.com/products)
. * The QoQ growth of XWallet is tremendous at 43%. In the previous quarter, we have less than 20k users, whereas in Q2 we have hit 297k XWallet users. More updates on XWallet:
* Supported BNB and NEM tokens; 2FA, face ID, and optimized SMS serviceAvailable on iOS, Android as well as in Samsung Galaxy Store
New features coming up in Q3:- DApp integration - Decentralized wallet- In-app crypto payments - Chat service, which will be compatible with a commonly used chat app- f(x) testnet features to be rolled out first in XWallet
## Other notices coming up in Q3 2019
* The Q2 token removal will take place on July 14, 2019, which will involve in total 34 billion of NPXS and NPXSXEM (22 million worth in USD) removal. In the past 365 days, we’ve removed a total of 36.1 million US dollar worth of NPXS and NPXSXEM.
Before Q2 removal, the total supply of NPXS ERC20 is 266,962,422,906.53 and NPXSXEM is 95,816,218,929. [See Q1 removal here.](/pundix/recap-of-ama-with-zac-on-july-3-and-q2-report-a23de165dd28)
* [NPXSXEM will be ported to Binance Chain from July 20](/pundix/npxsxem-will-be-on-binance-chain-c6485f17726b). * XPhone pre-order will start in late July with a new product name. Stay tuned. Check out the teaser video that we are releasing it across our communication channels. ## Q&A ## On XPOS
* **Where are we on official global location of XPOS?**
Zac: We have made a map on our official website that merchants can self report and feature their locations. It’s at [https://www.pundix.com/product\](https://www.pundix.com/product)
. We’ll be increasing and updating the map once we have permission form the merchants to update their locations.
* **The marketing from pundi has shifted from 100,000–700,000 xpos units by 2021 to 100,000. I understand the bear market has affected this but please share the strategy moving forward to hit your goal. How do you feel about hitting this goal?**
Zac: The 100K XPOS target has always been the initial goal and it’s stated in our whitepaper. And we are still working on achieving the goal by the end of 2021. Part of our growth strategy is to also explore the possibility to port our platform to traditional POS manufacturers to increase the adoption, which is ongoing at the moment.
* **1 year ago you sent 5000 XPOS somewhere. When, at least half of them, will be working? 3 year target was 100,000 by 2021. Now we have only 150 units, how do you expect to reach this goal?**
Zac: Yes, we have shipped thousands of XPOS to over 30 countries in the world. The 150 you’ve mentioned are the featured merchants which are published on the map. The active XPOS devices are deployed over 33 countries and we are actively talking to B2B partners to have higher wholesale and big deployments.
* **How many XPOS are live and used?**
Zac: We have gone through a very serious bear market, and some of the initial inbound requests for XPOS are not delivered. However, we are working slowly but surely with our Business Development team to not just roll-out into individual buyers, such as what we did on Pizza Day, but also to B2B partners. With the certifications approved, that will also help us to officially roll out to some of the key markets.
Individual merchants can use XWallet collection feature to accept crypto payment with QR code. For the merchants who have physical offline storefronts, they can use XPOS to enable the instant crypto transaction seamlessly. Moreover, as mentioned previously, we are exploring the integration on leading traditional POS terminal so that their distributors have option to enable crypto transaction feature. As for the challenge to adopt XPOS, it is the regulatory compliance in different countries. For this, our legal team think ahead and encourage our merchants to complete KYC.
I must be very honest to say the activation takes longer time than we expect but it will be worth at the end.
* **What’s the average number of transactions per xpos in use?**
Zac: The transaction number has increased very well. The number of each XPOS differs, due to the frequency of using crypto currency to purchase item or crypto assets. There’s no standard answer to this, but overall we see the transaction number and volume are going up.
* **How do you plan to reach the target of 100,000 by 2021?**
Zac: One of the challenges that we have is regulatory compliances in different countries. There are certain markets that do not allow crypto currencies and some require a clear approval for us to deploy XPOS. We are working on both challenges by talking to governments and applying for certifications. So how we plan to reach 100,000 XPOS user by 2021 is to work with distributors, B2B partners on a government / business level, and with existing POS companies to integrate our software solution into the system.
* **We understand as there was bear market and hence Xpos usage demand was low. Are you guys seeing growth of Xpos usage with current market conditions. Can you guys put some statistics comparison like last 30 days Xpos usage vs any month from bear market usage?**
Zac: It is very clear that as we moved out from the bear market, the demand for XPOS has been increasing. As we’ve shared just now both the transaction number and volume of Q2 have beaten Q1. We’ll be able to share more transaction numbers once we receive approval from our XPOS merchants.
One exciting thing is that, with the listing of different tokens, we also see users using these tokens as a way to transact on XPOS, which means we will be having more ways to transact and this is a growth point for XPOS.
* **When will there be more details for XPHONE and XPOS HANDY?**
Zac: For XPOS handy, we have finished production and it will be released in Q3
* **When will the iOS version of XWallet and XPOS be fully translated to other languages?**
Zac: Right now, the XWallet has Traditional Chinese, Korean, Spanish, German and English. With the latest version update, it now includes Portuguese. XPOS also comes with many languages and we hope to finish with more language, either working with professionals or volunteers. If you’re interested in volunteering, please contact us.
* **When will the Merchant back office have Product Registration and SKU id ability and also integrate with other POS software?** * **When will the top-up feature go away for XPOS to allow liquidity for XPOS**
Zac: We constantly update features in XPOS and merchant backend to make it easier for distributors and merchants to use. We understand that one of the ways for mass adoption is to enhance our distributor management system. With that, the distributors can manage manay XPOS at one time with different merchants.
Please stay tuned as we announce more and more functions of this feature. ## On Dubai
* **When will we see the deployment of the XPOS in Dubai?** * **Can we spend NPXS on the Dubai XPOS?**
Zac: As with all big projects there are a lot of moving parts, that includes working very closely with the local government, in Dubai’s case, the Credit Bureau of the Finance Ministry. Things are progressing for the Dubai project but due to confidentiality agreements with the parties involved, we cannot reveal much. All we can say is that we and our Dubai partners are working hard to have XPOS roll-out in the Dubai market and the UAE.
We are also discussing aggressively with Dubai partners whether to include crypto assets in the XPOS in Dubai. That clearly will involve local compliance and legal for that to happen.
* **Your system upgrades expect merchants to have downtime on their XPOS terminals, can you explain if you plan to run a business why this would be considered feasible (specially at the rate you have been doing your upgrades)?**
Zac: Yes, the benefit / strength of the XPOS is that most of the updates can be done on the fly. For example, when we have a token update on our XPOS where developers submit their tokens on Open Platform, the updates of this token are on the fly, which means that once we approve the token on our Open Platform, it will automatically appear on XPOS without any software updates.
The great thing that we believe about XPOS is not just the support of crypto assets, but also the ability to update most things on the fly, which means that whenever we have a good feature or a new token, the updates will be done instantaneously.
* **Can you guys arrange at least a community voting which is the next blockchain we would like to see next in XPOS? Voting will help to prioritize to chose the projects.**
Zac: One of the reasons why BNB is being listed on the XPOS is simply because of its popularity and also our user demand, in a way that we are already answering to our community’s request.
Right now, our main focus is getting all the tokens submitted on Open Platform to be listed on the XPOS. The submission process includes legal and compliance valid, so our legal and compliance teams are working hard to make sure that we have more tokens to roll out onto Open Platform, which means that they will be on XPOS, XWallet, and XPASS.
As to a specific voting mechanism, we’d like to consider that and hopefully we’ll be able to run a specific voting for the chain which users would like to see.
* **While comparing Xpos handy to Square POS devices at least with mobile it’s very cheap like under $30 and easy to use. When can we expect such light weight and cheaper version for XPOS? Is team working on such devices ?**
Zac: There are different POS companies around the globe and pour focus is to work with these POS companies with our software, so that a crypto sales feature will be part of the existing POS system. The more support of crypto asset usage using our software on existing POS, the better it is for global adoption.
We actually strongly believe that the pricing of our POS system is competitive in the market. And one of the great features of the XPOS is that the merchants will not need not to pay a certain percentage to existing acquirer but to be able to earn certain percentage from each transaction. That is the key differentiator for merchant to want to adopt this.
* **From the website with some of the key Countries for XPOS adoption looks great. However, the concern is for Venezuela, there is no reference link like the others have. Can you guys add the link with details to clear the ambiguity?**
Zac: Let’s give a little bit more patience so that we can actually release more information about our Venezuelan partnership. The good news is that we expect concrete news from Venezuela in the coming 2 weeks. So stay up-to-date about our Venezuelan roll out on XPOS, the best way is to subscribe to our telegram group for Venezuela. ## On Partnerships
* **Are there some major partnership in the works? I’m also interested in how you do immediate transactions? Do you anticipate scaling issues?**
Zac: The way XPOS is being designed is that when you use your crypto assets to purchase, it will have instantaneous confirmation because the action is an off-chain process. An on-chain action happens when a user who owns crypto assets in our system transferring the assets out of the Pundi X ecosystem to their own wallets; or to transfer crypto assets in Pundi X from an off-chain to a private wallet, which we will have very soon on XWallet itself.
That is why we are able to handle scaling. When a person wants to use crypto currency to buy a coffee, the transaction will happen instantaneously.
For specific partnership, especially with B2B partnership, we oblige to the NDA that we have signed. But if you follow us closely, you’ll know that we go to different parts of the world, talking to major companies to try to land more deals so that NPXS usage will increase dramatically.
* **Any big partnerships for making xphone or using the software for xBlockchain?**
Zac: These partnerships are also subjected to NDA, so please be patient for us to release more news.
* **When will XPOS have approval to process Visa and MasterCard payments?**
Zac: We have met representatives from these players including some of the key management people. They are obviously looking into crypto currency attentively, and we hope that there’s something we can do with MasterCard and/or Visa.
This is something that the community has suggested and we agree fully. Please allow us with some time to work on this. We have also showcased XPOS to the CEO of MasterCard. For what or when will anything happen, please wait for our official announcement.
* **What’s the status on Quantum fund and their contribution or involvement with Pundi’s project?**
Zac: We announced last year that we are creating a fund to invest in projects beneficial to our ecosystem. We’ve identified some interesting projects, and we have invested in at least 1 project. The reason why we’re investing in that project is because of the services that it will bring onto the Pindi X ecosystem. So the purpose of the investment of the companies is that these companies in turn will benefit on our ecosystem. This is our key consideration.
The team has evaluated the projects that will benefit the Pundi X / Function X ecosystem. Vic and his team will be able to reveal more details on the companies we have invested in and how they will contribute to our ecosystem in Q3.
* **Recent update on NPXSXEM is highly ambiguous as mentioned that it will be now BEP token and later once FX goes live it will get back to Fx platform. Why you guys had so rush to use Binance chain only for few months? Isn’t you guys switching to much in a short time span?**
Zac: Liquidity and utility have been an issue for NPXSXEM. Due to the design philosophy and the limit of token that can be created on NEM’s smart contract, we are only able to create a small number of tokens on NPXSXEM. By moving into the Binance chain for NPXSXEM, the BEP2 token version will be able to support all the NPXSXEM tokens, which means that we’ll migrate and also be able to make sure all the NPXSXEM tokens are under the same contract address.
We believe with the strong liquidity, we will be able to give our NPXSXEM token holders a good reason of what the token holders have been waiting for. We hope to bring NPXSXEM to match the level of NPXS.
* **When #XRP?**
Zac: Our OpenPlatform is a currency agnostic platform, which means that we will work on integrating public chain as well as tokens that are most requested by the users. We’ll also be looking into the listing of different tokens that are being mentioned by the community.
As said, we will have at least one more public chain integration in Q3, perhaps even more.
* **Are you as a company going to try and connect with libra? If they have said they want to be a payment remittance service, have Square, PayPal, Visa on board I as an investor would prefer you try to join them rather than beat such large competitors**
Zac: Of course, we’ll be delighted to work with Facebook and also the Libra coin. Pundi X and XPOS is a currency agnostic / currency neutral platform, if there’s opportunity to list Libra coin or work with Facebook in different ways to promote crypto currency adoption, we’ll certainly look into that and work on reaching out to them. ## On Trading
* **Can you confirm during AMA, Pundi team is not involved with any trading with their own token like selling over time to manage the fund to run the company.**
Zac: All the wallet addresses of the team holdings are disclosed and transparent. This is one of the first things that we did after ICO. Hence, our token holdings are transparent and everyone can monitor our fund transactions. Also, we have strict internal financial regulation and compliance, shows that we are here to build a long-term project.
The best way to make NPXS or the NPXSXEM to rise is real daily life use case.
* **When will you stop manipulating NPXS chart?**
Zac: Our focus has always been and will be building great products. The more product usage, the demands for NPXS and NPXSXEM will increase. Let’s address again that, Pundi X the company is NOT involved in any manipulation of the NPXS price.
There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market. The good thing about NPXS is that we have managed to create a high liquidity by listing on 40+ exchanges and having global trades and demand from all over the world. We hope this and coupled with the fact that we are a solid product and roll out the use cases, the demand of NPXS will only continue to rise and will be able to deter any of the traders or speculators there is for NPXS.
These traders gain profit from manipulating tokens whether BTC or other tokens. In fact, the traditional financial markets have similar challenges as well. What I want to stress is that, we at Pundi X, do NOT speculate or manipulate the price. We work very hard to create demands for NPXS and as a company, it is only beneficial for us to see the prices of NPXS and NPXSXEM rise.
* **Can we please address the elephant in the room which is the Binance bot with huge sell walls and buy walls causing huge distress and concern among users?**
Zac: First, I cannot confirm nor deny that whether Binance has a bot. I think this is something that you need to ask Binance. We need to work with Binance because Binance has one of the biggest liquidities, if not the greatest liquidity, for NPXS. The best way to counter manipulators is to create more use case, more demand and more acceptance of our tokens.
* **Why on almost all exchanges do you not offer a USDT trading pair?**
Zac: We have USDT trading pairs on Bittrex, Bittrue, and more. In addition, we have fiat pairs in Korean Won, IDR, INR, and Turkish liras. We will continue to work on adding trading pairs for NPXS to make it more liquidate.
* **Why don’t you offer a stable coin sell and purchase on the xpos to help with adoption? Places in Africa with volatile currencies would go crazy for this.**
Zac: It’s a great observation. This is a request that’s been asked from many users. We’re working on stable coin listing on XPOS and hopefully it’ll come soon. Stable coin requires a greater compliance and legal validate, which we have been working on since months ago and we hope to have the stable coin up in XPOS soon.
* **When will you add an active tracker for coin burn, whether its measured in usd, NPXS or whatever you choose. The community has been asking for this on twitter, reddit and telegram for this entire year.**
Zac: It will be hard for us to have a daily tracker of the coin burn, but what we might be able to work on is a tracker which have shown all of the tokens that have been removed from the usage. Thank you for giving us this great suggestion and we will work on it in some form.
Zac: Our token supply has always been specified in our white paper, and as promised in our white paper, we will continue to remove tokens through usage and use cases, which we’re working on all the time.
* **Price movement. When will NPXS go to which price?**
Zac: We cannot comment on the change of the price. Our focus is on building products. We hope by doing that the NPXS value will go up. Again, there’s no way that we can comment on the price.
**I believe that burning tokens every 14 weeks keeps the price suppressed and will only lead to huge pumps and dumps. Imo, If the burns were more frequent, the price would move organically.**
Zac: We continue removing tokens quarterly per advised by our legal and compliance team.
**Is it mandatory npxs swap? What happens for token we have in binance?**
Zac: No it’s not a mandatory NPXS swap for FX.
**How many NPXS or NPXSXEM was converted?**
Zac: In Q2, we will remove 29B NPXSXEM and 9B NPXS. ## On XWallet
* **Why not put in XWallet like the place where we can buy and sell like restaurants and shops?**
Zac: You are correct. In fact, if you look at XWallet, there is a merchant feature, whereby you can register as a merchant. By becoming a merchant, you will be able to print out your QR code and stick it on your restaurant. People are able to make payment through this QR code. This will act like a mini-XPOS.
* **In addition to that having multiple different blockchain in XWallet will increase the XWallet adoption. Hence, we would like to see aggressive game plan and execution from the team and would like to hear that**
Zac: That’s a great suggestion. Every day we want to increase use cases for XWallet. In fact, our XWallet update is one of the most frequent in the market. Within 5 months, we have over 10 updates on iOS and Google Play. This does not include soft update which happens every several days. In my view, the effort is very tremendous.
* **Is there any plan to add Swap option within XWallet so that people can trade the coins within XWallet?**
Zac: Yes, there’s such plan and in fact there is an upcoming feature that people will be able to use coins in XWallet to exchange into other things. The exact form and format have not been reviewed. We hope to share more when we have concrete example. But what you suggested is what we are planning for months ago.
* **When will XPOS and XWallet have fiat on ramps?**
Zac: This is a good question. It’s not only involved with regulatory compliance but also involved the technical part. This is also something we are planning for months. Once approved, hopefully we are able to support fiat currency on ramps and off ramps on XWallet.
* **How is the internal organization doing? Currently how many employees work for Pundi? Currently how many job positions are open?**
Zac: Pundi X has grown tremendously. We are now having over seven offices around the globe. I’m sitting in the Singapore office. We have office in Jakarta, Taiwan, Tokyo, Shenzhen, São Paulo and London. These are the places we have physical offices and house approximately 100 full time employees of Pundi X.
The positions open from Pundi X are legal associate in Singapore and other offices. We are looking for more R&D people, especially in Taiwan. We are looking at marketing and PR people in different parts of the world. And we are looking for POS distributors. As a POS distributor, you will work with our business development team and also our technical team to roll out many XPOS which you have a network to control in your local market.
* **Would you consider removing the KYC to allow u.s. holder to stake and be rewarded?**
Zac: We would love to have more users, including US. However, our compliance and legal advisors have not allowed us to accept US holders to stake and be rewarded.
I’m sorry to say that but this is after serious consideration to make such a decision. In fact, it is a very hard decision because we have healthy user base in the US.
will continue to monitor the situation in the different markets and be compliant. There are also ways to be rewarded when using XWallet service without KYC. We are looking into to explore more on this and launch new features. Hopefully we are able to bring the beta version for you to test this week or next. **On XPhone*\
* **Where are we on pre-sale announcement of Xphone? It was highlights of Q2 goal. If we are getting delay, that’s ok. But at least community will have some clarification why it’s getting late and when approximately it coming?**
Zac: Pre-sale order will start this month. It’s likely the end of July. Pre-sale will take place in different channel including the official website and XWallet. Apart of our own channel, the pre-sale will go live on a 3rd party channel. People will be able to pre-order crypto either in crypto or in fiat.
* **Can you discuss in AMA, is participants can pay with Crypto or Credit/debit card or in both ways?**
Zac: As a crypto company, we prefer payment in crypto, but fiat, Visa, MasterCard, and other traditional payment methods will be accepted on different pre-order channels. Stay tuned for pre-order which will happen in late July.
* **Will the Xphone be open to purchase in all regions of the world?**
Zac: Yes, pre-orders will be able to be done on-line, and products will be shipped from our offices to users in different parts of the world.
* **Will the blockchain mode on the Xphone be operable during the testnet or will this function not work until mainnet?**
Zac: XWallet and XPhone are the first channel and avenue for Function X testnet, so once the testnet is operateble, we will start to engage certain services on XWallet and XPhone into Function X testnet, and ultimately into mainnet. Slowly but surely.
* **Does Xphone have hard protective cover,extra Sim slot, also is it enhanced with ip68 water rating?**
Zac: XPhone will not be waterproof, so please do not submerge XPhone into water. XPhone will definitely be eavesdrop-proof because we’re using a blockchain mode, only you and you control your own conversation.
* **Which country accept the Xphone?** * **Will I also be able to use the SIM-card?** * **The blockchain modus will work in every country (what in the absense of nodes)?** * **Will the XPhone I buy now support updates in the future?**
Zac: People from any country will be able to buy XPhone on-line. You will be able to use a SIM for we have built a SIM slot. Wherever you are, the XPhone can be turned on to become a node.
Will XPhone support future updates? Yes, of course. Just like the XPOS, we support silent update. It will be like how we support XPOS, many updates. The updates will always be supported on XPhone. **On Function X*\
* **When is the detail white paper coming for FunctionX? Why the team is very resistive to have well documented white paper? We need scientific approach and well documentation on FunctionX to have developers to be more involved.**
Zac: Yes, developer involvement is a key criterion of the growth of Function X. We have done 2 things, one is that we have set up Function X Foundation which is led by David Ben Kay and will involve third party adviser and board members. Second, we have set up a developer relations team led by one of our own members as well. This team will work on creating developer documents, developer demos and sample, so that excellent developers can tap into working with Function X resources.
The first version of developer documentation is ready in English and Chinese. We are still polishing up the documents and hopefully to release them soon.
We are also working with third party developers, and are engaging at least 2 third party developer companies, so that we can help create their services on Function X and also XWallet.
We are hoping to showcase a smooth and usable service to the audience, we think this is the key criterion of the Function X growth.
Thank you for this suggestion. We need to update more often on github developer documentation as well.
As for the white paper, we did not have one per se because Function X did not do an ICO. But we will continue to update our white paper and include not only technical details, but also details on the chain and how we can get more developers and users so that the future hardware will be added as a node and you will be rewarded financially, at least through our ecosystem genesis fund. Please stay tuned and there are a lot of things going on in the company. Each and one of us is working hard.
* **Why does the FX ecosystem need a decentralized OS?**
Zac: The mantra of Function X is decentralization and having private control of your data. A full private control of your data comes with a decentralized system not just in transmission of your data, but with the operating system built fully for decentralization , which includes a transmission protocol replacing http. The apps uploaded into Function X will be decentralized as well as the data that is stored on the app, which means that how BitCoin or crypto assets are verified on different nodes will also be part of the way we store data and content.
The decentralized OS is key to fulfilling a decentralized environment for a more private and free usage.
* **What about FX are you most excited about?**
Zac: We are actually creating a shift of how people view of blockchain and how decentralization is not just about transacting commercial commodity, but also data, including your identity, are all decentralized. That is what we are most excited about.
The only way for us to achieve this is to have developer support, for we need the developers to build on the foundation we have to offer those exciting services.
* **We understand that developing a new blockchain is time consuming. As a community we are in a dark space to understand where exactly the development of FX right now.**
Zac: We are working hard on creating the testnet and eventually the mainnet. For the latest updates of Function X, what I can encourage you to do is to go on and subscribe to the Function X telegram group where discussions are made. We have formed the Function X Foundation and created the developer relations team, so that the Function X progress will go smoother and with more partnership from outside, whether it’s developers, third party companies, teleco, etc.
* **When FX goes live on the mainnet, will FX coin be used to stake and earn NPXS? how will staking work on that new mainnet?**
Zac: The NPXS/NPXSXEM staking will last till March 9, 2020 as announced. What we are committed is to create more use cases. For FX tokens, the use cases will be focusing on the Function X Chain and the use cases on Function X that include DApp on Function X and different hardware/software services.
* **When fx testnet will be available?**
Zac: First I would like to thank you for your constant support. In Q3, we plan to open Function X testnet so that we will be migrating and creating certain use cases that can be used on Function X testnet, starting with our own XWallet. Which means, the XWallet will migrate some features into Function X testnet, and slowly followed by our other Pundi X products, including XPhones, XPASS, Open Platform and Function X own developer related products from third parties.
Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links. submitted by
: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed
to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal
to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video
for new Decred developers that explains how tickets are selected for voting. dcrwallet
: Version 1.3.0 RC1
features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated
to the new module system. Decrediton
: Version 1.3.0 RC1
adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration. Politeia
: Proposal editing is being developed
and has a short demo
. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram
which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues
: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page
, cool new hamburger menu and keyboard navigation. For developers: new chain parameters
page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org
. Check out the new charts
page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org
: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat
. Alpha testing has started, to participate please join #dev
and ask for the APK. iOS
: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds. Ticket splitting
: v0.6.0 beta released
with improved fee calculation and multiple bug fixes. docs
section that grouped some old articles as well as the new Politeia
@Richard-Red created a concept repository
sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals. decred.org
: 8 contributors
added and 4 removed, including 2 advisors (discussion here
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart
Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu
. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.
Obelisk posted 3 email updates
in August. DCR1 units are reportedly
shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation
for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design
the new D9+ DecredMaster
: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15. FFMiner DS19
claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299
. Shipping Aug 20-25.
Another newly noticed miner offer is this
unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR
(which has now a page on asicminervalue
joined the list of stakepools
for a total of 16.
Australian CoinTree added
DCR trading. The platform supports fiat, there are some limitations
during the upgrade to a new system but also no fees
in the "Early access mode". On a related note, CoinTree is working
on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges
page at decred.org.
Two mobile wallets integrated Decred:
- Coinomi added Decred to their Android and iOS wallets. In addition to the Apple App Store and Google Play you can download the APK directly. Coinomi features an integrated cryptocurrency exchange and is the first company to offer a mobile Decred wallet.
- BitBill Android and iOS wallet also added Decred.
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?
- Bit Dials announced DCR support via GloBee at their bitdials.eu luxury boutique. Their separate supercar and classic car shop bitcars.eu also accepts DCR, either via GloBee or with manual invoicing in case of privacy concerns.
- Sheldon Store re-enabled DCR payments. The shop sells gift cards for Amazon, iTunes, Netflix and many more.
Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here
Contribution to the @decredproject
Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub
- Meetup in Puebla City, Mexico, organized by @elian. (photo, slides, missed in July issue)
- @joshuam discussed Decred and decentralized organizations with Craig Laundy, Federal Minister for Small Business, the Workplace, and Deregulation with the Australian Government, at @YBFVentures. (photos)
- Meetup at @TheBlockCafe in Lisbon, Portugal. @mm presented "Decred 101 - Governance with Skin in the Game" and @moo31337 talked about Decred's 2018 roadmap. (photos: 1 2 3)
- Meetup in Taipei, Taiwan. @morphymore made a short intro of Decred and noted: "After the talk, many have approached to tell me that they literally don’t hear of Decred until today, and are interested in finding out more about the merit of a hybrid consensus system.". Longer report here, some photos and a video are here.
- @eSizeDave introduced Decred to the SILC Undergraduate Program students at @YBFVentures. (photo)
- OKEx Global Meetup Tour in Ho Chi Minh City, Vietnam. @joshuam gave a brief presentation covering the history of Decred, how the project functions, and the importance of governance. Afterwards he joined a panel discussion and spoke about Decred's incentives for long term viability. (video, video, photo)
- Blockchain & Decentralised Governance Panel at @YBFVentures in Melbourne, Australia. @eSizeDave presented Decred, mini-report here. (photos: 1 2)
- Blockchain Futurist Conference in Toronto, Canada. @zubairzia0 noted: "Devs and the community were held in high regard for the people who knew about decred ... one positive thing I remember was someone defending us saying 'Decred does not need a booth', I believe that comment was reflective of the quality of projects being showcased at the conference.". (photo)
- Meetup at @YBFVentures in Melbourne, Australia. @joshuam discussed Decred with Graham Stuart, U.K. Minister for International Trade. (news, photos)
- Small meetup with Jackson Palmer in Melbourne, Australia. (photo)
- Voice of Blockchain in Chicago, USA. @moo31337 talked on Protocol Governance panel, Solving Scalability panel (video) and gave an interview, while @ay-p spoke on Decentralized Exchanges panel. Stakey made an appearance on the slides. (photos: 1 2 3 4 5)
- Hawthorne Street Fair in Portland, USA. Raedah Group was out answering questions about crypto and Decred. (photos)
- Blockchain APAC in Melbourne, Australia. @joshuam joined a panel discussion with reps from banking, university and ISO/TC 307. @eSizeDave reports: "This enterprise conference was indeed a whole lot better than I expected. The presentations were actually full of very worthwhile information from credible people, articulated aptly to a very government, academic, and corporate crowd, who genuinely took on board valuable insights. Good to know some of these key people are Decred holders and stakers as well. I got to use the entire day to speak directly with some of the most pivotal personalities in this particular populace. Ongoing relationships have been built and strengthened.". (photos: 1 2 3)
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)
Decred Assembly episode 21 is available
. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here
New instructional articles on stakey.club
: Decrediton setup
, Deleting the wallet
, Installing Go
, Installing dcrd
, dcrd as a Linux service
. Available in both English and Portuguese
Decred scored #32 in the August issue
of Chinese CCID ratings. The evaluation model was explained in this interview
Satis Group rated Decred highly in their cryptoasset valuation research report
). This was featured by several large media outlets, but some did not link to or omitted
Decred entirely, citing
low market cap.
- Decred Investor Interviews: Ciarán O’Leary, General Partner, BlueYard Capital (medium)
- Decred Update Research Report by Node Blockchain (medium), and the corresponding full 11-page report (Google Drive)
- Is Decred worth my time and money? by Fabien Pelissier (medium), and the full 13-page Decred Analysis (PDF)
- Decred for Custody Providers by @bee (medium)
- The 3 Best-Performing Cryptocurrencies in 2018 (nulltx.com, missed in July issue)
- Decred Review (vivecrypto.com, missed in July issue)
- What is Decred? Everything about Decred, the wallet and the hybrid consensus (Dutch, currentcrypto.nl)
- Decred overview (Japanese, cryptocoinportal.jp, note: Decred's Coco is Amazing, according to Google Translate)
- What is Dark Red (Decred)? (Japanese, billion-coin.jp)
- Decred is the neglected gem among altcoins (captainaltcoin.com)
- What are the characteristics of Decred and where to buy? (Japanese, motto-money.com)
- What is hybrid virtual currency Decred? Explanation of features and future potential (Japanese, investor-a.com)
- What is DCR? Introduction to Decred (cryptobriefing.com)
- Cryptocurrencies in the Top 100 With Working Products That Are In-Use (investinblockchain)
- Top 3 Coins Crushing it in 2018 so Far! - Decred, VeChain, Binance Coin! by Decentralized TV (youtube)
- Decred review by Ultimate Money (youtube, missed in July issue)
- Interview with Marco Peereboom by BitBoy Crypto (youtube)
- Twitter followers 39,592 (+174)
- Reddit subscribers 8,631 (+119)
- Matrix users 163
- Slack users 6,067 (+103)
- YouTube subscribers 3,667
- Facebook 3,048 followers and 2,814 likes
- GitHub 417 (+14) stars and 1,021 (+44) forks of dcrd repository
Comm systems news:
- Interruptions in the chat bridge led to some Slack messages not reaching other platforms, and consequently not being archived in Matrix.
- Several impersonators were detected and banned.
- Inactive Slack channels were archived. If you miss them, let it be known.
- Mastodon was mentioned by several people as a possible alternative for Twitter.
- Two new Reddit rules were added to prevent CAPS flood and duplicate submissions.
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
- Decred Matrix community was created: +decred:decred.org, it helps to see all Decred-related rooms and people.
- #privacy and #design are now bridged.
- One private work channel was successfully migrated to Matrix.
- Stylish room avatars were set.
- @Haon has prepared a short guide to help new Matrix users get started and join the Decred rooms.
- A thread was started to discuss changes to Decred jargon with the intent to make it more consistent and accessible to newcomers. The question whether changing "official" terminology requires stakeholder approval was touched in this thread and in #documentation.
- Project fund transparency and constitution were extensively discussed on Reddit and in #general.
- Pre-proposal to use Politeia to approve Politeia as a legitimate decision-making tool for Decred.
Reddit: substantive discussion about Decred cons
; ecosystem fund
; a thread
about voter engagement, Politeia UX and trolling; idea
of a social media system for Decred by @michae2xl; how profitable
is the Obelisk DCR1.
Chats: cross-chain trading
via LN; plans
for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring
dev activity; what if
the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas
for process for policy documents, hosting them in Pi and approving with ticket voting; about
SPV wallet disk size, how compact filters work; odds
of a wallet fetching a wrong block in SPV; new module system
in Go; security
of allowing Android app backups; why
PoW algo change proposal must be specified in great detail; thoughts
and SPV; prerequisites
for shipping SPV by default (continued
); Decred vs Dash treasury and marketing expenses
, spending other people's money; why
Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how
winning tickets are determined and attack vectors; Politeia
proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems
, Matrix/Slack/Discord/RocketChat/Keybase (continued
of Korean exchanges; no breaking changes
in vgo; why
project fund burn rate must keep low; asymptotic
behavior of Decred and other ccs, tail emission; count of full nodes
and incentives to run them; Politeia proposal translations
and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading
DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop
and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery. @ImacallyouJawdy
posted some creative analysis based on ticket data.
an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates
about the possible Sia fork
yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky
to have the treasury.
Mark B Lundeberg, who found
a vulnerability in atomicswap earlier, published
a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance
on cryptocurrencies and triggered at least one project to migrate
to Ghost (that same project previously migrated
away from Slack).
Regulation: Vietnam bans
mining equipment imports, China halts
crypto events and tightens control of crypto chat groups.
Reddit was hacked
by intercepting 2FA codes sent via SMS. The announcement
explains the impact. Yet another data breach
suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter
. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com
About This Issue
This is the 5th issue of Decred Journal. It is mirrored on GitHub
. Past issues are available here
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit
or #writers_room on Matrix
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide
how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
Note: You can read this on GitHub, Medium or old Reddit to see the 207 links. submitted by
The biggest announcement of the month was the new kind of decentralized exchange proposed
by @jy-p of Company 0. The Community Discussions section considers the stakeholders' response.
dcrd: Peer management and connectivity improvements. Some work for improved sighash algo
. A new optimization
that gives 3-4x faster serving of headers, which is great for SPV. This was another step towards multipeer parallel downloads – check this issue
for a clear overview of progress and planned work for next months (and some engineering delight). As usual, codebase cleanup, improvements to error handling, test infrastructure and test coverage.
Decrediton: work towards watching only wallets, lots of bugfixes and visual design improvements. Preliminary work to integrate SPV has begun.
Politeia is live on testnet! Useful links: announcement
, command line voting example
, example proposal
with some votes, mini-guide
how to compose a proposal.
Trezor: Decred appeared in the firmware update
and on Trezor website
, currently for testnet only. Next steps are mainnet support and integration in wallets. For the progress of Decrediton support you can track this meta issue
dcrdata: Continued work on Insight API support, see this meta issue
for progress overview. It is important for integrations due to its popularity. Ongoing work to add charts. A big database change to improve sorting on the Address page was merged
and bumped version to 3.0. Work to visualize agenda voting continues
Ticket splitting: 11-way ticket split from last month has voted
Ethereum support in atomicswap is progressing
and welcomes more eyeballs.
decred.org: revamped Press page
with dozens of added articles, and a shiny new Roadmap page
: a new Decred dashboard by lte13. Reddit announcement here
Dev activity stats for June: 245 active PRs, 184 master commits, 25,973 added and 13,575 deleted lines spread across 8 repositories. Contributions came from 2 to 10 developers per repository. (chart
Hashrate: growth continues, the month started at 15 and ended at 44 PH/s with some wild 30% swings on the way. The peak was 53.9 PH/s.
F2Pool was the leader varying between 36% and 59% hashrate, followed by coinmine.pl holding between 18% and 29%. In response to concerns about its hashrate share, F2Pool made a statement
that they will consider measures like rising the fees to prevent growing to 51%.
Staking: 30-day average ticket price is 94.7 DCR (+3.4). The price was steadily rising from 90.7 to 95.8 peaking at 98.1. Locked DCR grew from 3.68 to 3.81 million DCR, the highest value was 3.83 million corresponding to 47.87% of supply (+0.7% from previous peak).
Nodes: there are 240 public listening and 115 normal nodes per dcred.eu
. Version distribution: 57% on v1.2.0 (+12%), 25% on v1.1.2 (-13%), 14% on v1.1.0 (-1%). Note: the reported count of non-listening nodes has dropped significantly due to data reset at decred.eu. It will take some time before the crawler collects more data. On top of that, there is no way to exactly count non-listening nodes. To illustrate, an alternative data source, charts.dcr.farm showed
690 reachable nodes on Jul 1.
Extraordinary event: 247361
were two nearly full blocks. Normally blocks are 10-20 KiB, but these blocks were 374 KiB (max is 384 KiB).
from Obelisk: shipping is expected in first half of July and there is non-zero chance to meet hashrate target.
Another Chinese ASIC spotted
on the web: Flying Fish D18 with 340 GH/s at 180 W costing 2,200 CNY (~340 USD). (asicok.com
, also on asicminervalue
dcrASIC team posted
a farewell letter. Despite having an awesome 16 nm chip design, they decided to stop the project citing the saturated mining ecosystem and low profitability for their potential customers.
is a new mining pool spotted
- Huobi Pro added DCBTC and DCETH pairs.
- OKEx gradually rolled out trading DCR to BTC, ETH, USDT and OKB and added a page for Decred (note a bunch of N/As for ICO-related stats).
- Singapore-based DragonEx announced a DCETH pair.
- Netherlands-based Bitvavo recently added EUR to DCR conversion
- OOOBTC announced DCUSDT pair.
- Changenow announced the option to buy DCR with fiat.
Two OTC trading desks are now shown on decred.org exchanges
payment gateway added Decred and posted
Guarda Wallet integrated Decred. Currently only in their web wallet, but more may come in future. Notable feature is "DCR purchase with a bank card". See more details in their post
or ask their representative on Reddit
. Important: do your best to understand the security model before using any wallet software.
- NeverFiat marketplace now accepts Decred. Notably it utilizes GloBee and recently announced Lightning support for Bitcoin.
- Crypto and Tech Gear integrated Decred and has a branded mouse pad for sale, as well as other merch.
- TokenPride: "We are seeking feedback on the general setup of our payment processor. We have tried to make it simple and user friendly. 10% of all purchases made in Decred will be donated to the Decred Development fund - and we will be releasing original Decred designs in the future".
BlueYard Capital announced
investment in Decred and the intent to be long term supporters
and to actively participate in the network's governance. In an overview post
they stressed core values of the project:
There are a few other remarkable characteristics that are a testament to the DNA of the team behind Decred: there was no sale of DCR to investors, no venture funding, and no payment to exchanges to be listed – underscoring that the Decred team and contributors are all about doing the right thing for long term (as manifested in their constitution for the project).
The most encouraging thing we can see is both the quality and quantity of high calibre developers flocking to the project, in addition to a vibrant community attaching their identity to the project.
The company will be hosting an event in Berlin, see Events below.
Arbitrade is now mining
- Meetup in Belo Horizonte, Brazil.
- Meetup in Rio de Janeiro, Brazil. (photo)
- Campus Party in Brasilia, Brazil. @girino, @Rhama and @matheusd talked about Decred. Matheus was interviewed by a TV channel. Check this quick report about the event, click "Show newer" to continue reading. (photos: 1 2 3)
- Blockchain Connect Conference in Silicon Valley, USA. (photo)
- Zcon0 in Montreal, Canada. @jz represented Decred.
- Blockchain Summit in London, UK. This was not a full blown presence with stand but rather investigation of opportunities by @kyle and @Ani. The resulting detailed report is a good example of a document advising to stakeholders whether it is worth spending project funds.
- Meetup in Berlin, Germany on July 18. @jz will give a talk and Q&A about Decred and chat with Ele from @oscoin about incentivizing developers. Hosted by BlueYard Capital.
- O'Reilly Open Source Convention in Portland, USA on July 18-19. People wishing to attend this developer focused event can use Decred25 discount code when registering to save 25%. For any questions join #event_planning and contact @Jesiki, she can also invite you to any gatherings in the area.
: a new website by @mm:
Hey guys! I'd like to share with you my latest adventure: Stakey Club, hosted at stakey.club, is a website dedicated to Decred. I posted a few articles in Brazilian Portuguese and in English. I also translated to Portuguese some posts from the Decred Blog. I hope you like it! (slack) @morphymore
translated Placeholder's Decred Investment Thesis
and Richard Red's write-up on Politeia
to Chinese, while @DZ translated Decred Roadmap 2018 to Italian
, and A New Kind of DEX to Italian
Second iteration of Chinese ratings released
. Compared to the first issue
, Decred dropped from 26 to 29 while Bitcoin fell from 13 to 17. We (the authors) restrain ourselves commenting on this one.
Community stats: Twitter followers 40,209 (+1,091), Reddit subscribers 8,410 (+243), Slack users 5,830 (+172), GitHub 392 stars and 918 forks of dcrd repository.
An update on our communication systems:
- Matrix chat logs are now viewable on the web with the exception of some channels that are not bridged. The new web logs means our chats are now fully public and indexed by search engines.
- Slack had an outage on Jun 27 that disturbed communications for a few hours, discussions continued on Decred's bridged platforms.
Jake Yocom-Piatt did an AMA on CryptoTechnology
, a forum for serious crypto tech discussion. Some topics covered were Decred attack cost and resistance, voting policies, smart contracts, SPV security, DAO and DPoS. A new kind of DEX
was the subject of an extensive discussion in #general
channels as well as Reddit
. New channel #thedex
was created and attracted more than 100 people.
A frequent and fair question is how the DEX would benefit Decred. @lukebp has put it well:
Projects like these help Decred attract talent. Typically, the people that are the best at what they do aren’t driven solely by money. They want to work on interesting projects that they believe in with other talented individuals. Launching a DEX that has no trading fees, no requirement to buy a 3rd party token (including Decred), and that cuts out all middlemen is a clear demonstration of the ethos that Decred was founded on. It helps us get our name out there and attract the type of people that believe in the same mission that we do. (slack)
Another concern that it will slow down other projects was addressed by @davecgh:
The intent is for an external team to take up the mantle and build it, so it won't have any bearing on the current c0 roadmap. The important thing to keep in mind is that the goal of Decred is to have a bunch of independent teams on working on different things. (slack)
about Decred fork resistance started on Twitter and continued in #trading
. Community members continue to discuss the finer points of Decred's hybrid system, bringing new users up to speed and answering their questions. The key takeaway from this chat is that the Decred chain is impossible to advance without votes, and to get around that the forker needs to change the protocol in a way that would make it clearly not Decred.
"Against community governance" article
was discussed on Reddit
"The Downside of Democracy (and What it Means for Blockchain Governance)" was another article
arguing against on-chain governance, discussed here
Reddit recap: mining rig shops discussion
; how centralized
is Politeia; controversial debate
on photos of models that yielded useful discussion on our marketing approach; analysis
of a drop in number of transactions; concerns
regarding project bus factor
, removing central authorities, advertising and full node count – received detailed responses; an argument
by insette for maximizing aggregate tx fees; coordinating
network upgrades; a new "Why Decred?" thread
; a question
about quantum resistance with a detailed answer and a recap of current status of quantum resistant algorithms.
Chats recap: Programmatic Proof-of-Work (ProgPoW) discussion
; possible hashrate
of Blake-256 miners is at least ~30% higher than SHA-256d; how Decred is not vulnerable
to SPV leaf/node attack.
DCR opened the month at ~$93, reached monthly high of $110, gradually dropped to the low of $58 and closed at $67. In BTC terms it was 0.0125 -> 0.0150 -> 0.0098 -> 0.0105. The downturn coincided with a global decline across the whole crypto market.
In the middle of the month Decred was noticed
to be #1 in onchainfx
"% down from ATH" chart and on this
chart by @CoinzTrader. Towards the end of the month it dropped to #3.
Launchpad service. The idea
is to work with coin developers to design a custom, ASIC-friendly PoW algorithm together with a first batch of ASICs and distribute them among the community.
Equihash-based ZenCash was hit
by a double spend attack that led to a loss of $450,000 by the exchange which was targeted.
Almost one year after collecting funds, Tezos announced
A hacker broke into
Syscoin's GitHub account and implanted malware stealing passwords and private keys into Windows binaries. This is a painful reminder for everybody to verify binaries
new asset listing framework for Poloniex. Relevant to recent discussions of exchange listing bribery:
Please note: we will not accept any kind of payment to list an asset.
Bithumb got hacked
with a $30 m loss.
Zcash organized Zcon0, an event in Canada that focused on privacy tech and governance. An interesting insight
from Keynote Panel on governance: "There is no such thing as on-chain governance".
Microsoft acquired GitHub. There was some debate about whether it is a reason to look into alternative solutions like GitLab right now. It is always a good idea to have a local copy of Decred source code
, just in case.
Status update from @sumiflow on correcting DCR supply on various sites:
To begin with, none of the below sites were showing the correct supply or market cap for Decred but we've made some progress. coingecko.com, coinlib.io, cryptocompare.com, livecoinwatch.com, worldcoinindex.com - corrected! cryptoindex.co, onchainfx.com - awaiting fix coinmarketcap.com - refused to fix because devs have coins too? (slack)
About This Issue
This is the third issue of Decred Journal after April
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
The new public Matrix logs
look promising and we hope to transition from Slack links to Matrix links. In the meantime, the way to read Slack links is explained
in the previous issue.
As usual, any feedback is appreciated: please comment on Reddit
. Contributions are welcome too, anything from initial collection to final review to translations.
Credits (Slack names, alphabetical order): bee and Richard-Red. Special thanks to @Haon for bringing May 2018 issue to medium
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