2key Development Update — November 2018
This month, we’re Making Lemonade! 🍋
Last month hasn’t been easy for the crypto industry. We‘ve witnessed some of the biggest declines in the crypto market ever.
Yet for us, this is a great time to press ahead with the development of our technology, focusing on our main goal of launching 2key network’s Alpha version next quarter. Fortunately, we pegged enough crypto back in the good old days to last us for a looong time. So that now, we’re able to respond to the market’s condition and postpone our token distribution event for a bit longer.
We also participated last month in Liberland.org Hackathon and built a new vertical for the network that enables the creation of a DAO and voting campaigns. we invited two members of our engineering team, Andrei and Nicola over to Israel for the event and won the 4th place (out of 15). The Liberland team announced its intent to continue collaboration and use 2key’s technology for their token sale :)
On the marketing front, We’ve been quoted in Forbes and Techbullion and added some new articles on our Medium blog. We’ve also launched a new website!! It’s amazing, check out for yourself here.
Temporary Plasma Addresses, Kubernetes Clusters, Ropsten Environments and more
Our Monthly Tech Update
- 2key protocol now allows participants to join 2key campaigns and share 2key links without the annoying process of opening a crypto wallet. Instead, 2key network will generate a temporary plasma address for new participants, backing it up securely for recovery purposes. Once a user gains some rewards that they wish to cash out and have a strong motivation to open a crypto wallet, they’ll be prompted to do so. We expect this move to significantly raise new users’ conversion rates, because now everyone will be able now to onboard campaigns with a simple web2.0 sign-in.
- We’ve completed a big devops infrastructure project of setting up our own scalable Kubernetes clusters, complete with analytics dashboards etc. They’ll offer 2key Dapp users dedicated connections to public Ethereum nodes and plasma Ethereum nodes. This new infrastructure contains a novel auto-scaling mechanism which allows Kubernetes to spin up new Ethereum nodes, by using dynamically pre-cached images of the synced blockchain. In this way, we managed to significantly speeds-up the syncing process. We then modified the cluster’s health-check process, to make sure the Ethereum node is fully synced before declaring it operational.
- We’ve successfully migrated our staging environment Dapp from Rinkeby (POA) to Ropsten (POW), which mimics the production main-net more closely.
- We’ve developed an in-house service which monitors optimal gas prices in real time, to facilitate the various backend and frontend endpoints which need to issue blockchain transactions.
- We’ve enhanced 2key campaign contracts, enabling them to quote prices in fiat currencies. So if anyone wants to sell a digital asset and quote the price in USD, EUR, GBP, now they can. In this way, 2key campaigners and token sellers can guard themselves against the excessive crypto price volatility, especially in long-running campaigns. We’re also planning to support auto-pegging option to stable coins in the future.
- We’ve implemented an upgradability framework for our singleton contracts, allowing the network’s administration contract to issue upgrades to various singletons. We’ve also implemented a maintainability framework that enables the administration contract to name various maintainers with the authority to perform trusted services in the singletons. One good example of this is the strong requirement to validate humanity of participants in the 2key network. For that reason, the ability to register new users’ handles and addresses in the registry contract is reserved for a trusted address (a maintainer) named by the network admin contract.
We believe Blockchain is going to be revolutionize our world and we intend to be at the forefront the developing technologies of the future. In difficult times weak companies disappear, medium companies survive and real companies continue to grow. We’re working hard to bring let people experience the novelty of our technology very soon.
Wishing us all a great winter and happy holiday season!
