OmiseGO July 2019 Roundup
It’s rainy season here in Thailand, but that’s not slowing us down!
For July, we worked on improving Plasma’s resource usage, stability and availability. Additionally, we made progress on the abstract layer contracts implementation.
We were also at the Bank of Thailand’s Bangkok Fintech Fair where our CTO, Kasima, was a panelist and discussed decentralized exchanges, plasma, and blockchain in detail.
For the Integration Team the month of July was focused on Ethereum integration. A major update which will allow the OmiseGO eWallet to come closer to its primary goal of being an easy-to-use integration point for any kind of system that would want to integrate with a blockchain.
The work done on Ethereum Integration included a deposit process using Hierarchical Deterministic wallets, the ability to deploy internal tokens as ERC-20 smart contracts on Ethereum from within the OmiseGO eWallet, and an integration with Metamask to allow admin users to send ETH and ERC-20 token from within the Admin Panel.
Additionally, this month the integration team worked on integrating Potterhat with the eWallet to improve the resiliency of the overall program.
This month was all about optimization as we looked towards improving Samrong’s resource usage, stability, and availability.
To assess how much load the network could handle, we conducted a stress test but ran into some tooling issues which delayed the process. We will keep the community updated once we gather the results.
We also continue to work on improving metrics and monitoring to meet production service standards while operating in a proof of authority (PoA). This is critical to onboard potential projects that are serious about using the plasma chain and integrating with the OMG network.
Meanwhile, things are moving fast and furious on the abstract layer contracts implementation.
We’ve almost reached feature parity with the existing contracts. We’re able to receive ETH and ERC-20 deposits, store block hashes, and support standard MVP exits for payment transactions.
Once we reach our minimum viable feature set, we’ll be ready to begin audits.
On the child chain side, we’ve been cleaning up some of the production monitoring tooling and are digging into supporting new transaction types.
And finally, last week marked the end of Ari, our first alpha public test net which ran for 168 days with minimal downtime. We’ll have a drink to that!
The biggest production milestone for us in the past iteration was actually shutting something down.
Last week marked the end of Ari, our first public alpha testnet. In its 168 days of up-time, it produced 52,829 blocks, which included 1.64MM transactions.
There were 360 deposits and 2207 exits, which amounted to ETH and 59 ERC-20 tokens. This marked the end of our first full Network Upgrade. We learned a lot from the process, and will share more in an upcoming blog post.
As mentioned before, since this is plasma, users can still exit their funds by performing exits against the root chain contract — provided that they have exit information from a fully-synced watcher.
Note that we will no longer monitor the Ari root chain contract for invalid exits and leave it up to the community to choose to keep the Rinkeby testnet funds safe.
Welcoming our new advisor!
We welcome Tipsuda Thavaramara who joins OmiseGO as Regulations and Compliance Advisor.
Ms. Tipsuda has 26 years of experience at the Thai Security and Exchange Commission (SEC). She was in charge of Policy, Markets and Intermediaries, and Investment Management. She also has extensive experience in capital market development.
You can catch her on video with Vansa here as she talks about how regulators approach decentralized platforms.
The “Endeavour entrepreneur” program.
We’re happy to announce that after going through multiple stages of interviews, our CEO, Vansa, is an Endeavour entrepreneur!
The program picks impactful entrepreneurs who can use Endeavor’s resources to create wealth and jobs.
Last year, Endeavor Entrepreneurs created 3 million jobs, generated $20 billion in revenue and helped build sustainable growth models in their home countries.
Bank of Thailand’s Bangkok Fintech Fair 2019
OmiseGO CTO, Kasima Tharnpipitchai, was at the Bank of Thailand’s Bangkok Fintech Fair 2019. There, he spoke about Plasma, and how it has the potential scale blockchain by increasing transactions speeds and security.
They discussed decentralized exchanges and what makes them interesting today. They also spoke about what a ‘traditional’ decentralized exchange looks like, and why they’re excited about the Swiss Government looking to regulate it.
On the other side of the globe, Unnawut, OmiseGO Integration team software engineer took to stage at CodeElixr in London. He spoke about building an interactive CLI app in Elixr, and highlighted the key features needed in a user-friendly CLI for Elixir applications.