Dear BitCanna community,
Time is flying by! June has been a busy and turbulent month. The crypto-markets are in turmoil since the charges pushed by the SEC against CoinBase and Binance, but that does not keep us from building our dream. We’d like to share the progress we’ve made this month in this blog.
Chain upgrade
Last Monday 26–06–2023 a proposal was launched for our upcoming update of the blockchain to a new underlying version of the technology, the Cosmos-SDK. If this proposal passes (as is to be expected) the chain will halt on Thursday 29–06–2023 around 15:15 CEST where the validators will have to change the software to the newest version. After a brief halt the chain will resume operations, completing our upgrade to the Cosmos-SDK v0.46 which will be our basis for the future. As told earlier the mobile app will also be released based on this version, so it is really something to look forward to. For a full set of changes, check here.
Webwallet update
The upgrade of the underlying technology of the chain changes a lot for our webwallet. During testing of the upgrade on our testnet we found that the webwallet became obsolete on the new SDK version. This pushed us to update the webwallet as well, which has been done over the last period. Together with a couple of our testnet validators we’ve tested the new webwallet and obtained at the same time some very good ideas for further future development. After the chain upgrade has been completed we will update the webwallet as well, which will be down for a couple of hours following the chain upgrade. Afterwards it will be back online.
Small side note; we have also put some time in redesigning the web wallet to unify the design with the upcoming mobile wallet. We hope you will like it!
Validator delegation program
Another major update was also done to our validator incentive program (VIP). The previous round was done in January / February of this year and it was time to revisit it. The validators from our chain completed the questionnaire which was our basis for the assessment who receives which delegation. The result can be seen on our docs, both for the delegation program as well as the services we receive from our validators.
We do notice however that the current form of the program requires a lot of time to complete, both from the validators as from our side. Right now it is a full workweek of effort put into creating the program, the assessment of the results, updating the delegations on chain and the corresponding documentation. In the coming months we will work on a better format to gather input which should greatly reduce the time required from our validators and our team, while still preserving the diversification of services and delegations across the chain.
Ask-Me-Anything with CosmosClub
On 13–06–2023 we had an Ask-Me-Anything with CosmosClub. This AMA is available to listen via Twitter Spaces, Spotify and their Youtube channel. Also a Twitter thread around BitCanna was created. We loved having this conversation with a very diverse set of questions going from the cannabis market in general, to the legal sides belonging to it (which is really important to take into account as well) to the technology behind it from the Cosmos ecosystem and our chain.
Following the request for community questions a lot of input was received. We have created a page where the majority of these questions are answered; some directly, some grouped together when they were alike. The answers can be found here.
Secret Project
We are making progress on our secret project. We have chosen a name for the project under which we will launch it and we are working through the final details regarding functionality. We are coming closer and closer to the point where we can reveal what we are doing behind the scenes to a greater audience and we are eager to share it with you all. However, until now it remains a mystery, BUT we will share the outline of the plans with our most close partners in a call at the beginning of next month; they will be the first group outside our core team to be onboarded into our plans. We are currently in a stage where the outline of what we will deliver is becoming more clear, opening up the possibility to take our partners with us on the journey to realizing this product. We are very curious about their responses and insights. Based on their feedback and the progress we make in the coming period we’ll lift the veil for you as a community. Stay tuned!
Thank you for your continued support and belief in our mission. We’re looking forward to an exciting June filled with more developments, updates, and growth!
