We are glad to share with you the latest development report about our work and progress over the past 5 months. This period adds more pieces to the full vision of our major goal: inter-connected blockchain networks.
Two Successful EXRT Distributions
Sixth distribution (July) happened quick and hassle-free. It finished within few hours after the first transaction was sent. Seventh distribution (October) is now our new fastest distribution to date, it finished in 23 hours after form closed. Below you can see an updated outline of how speed of distribution process changed over the project’s timeline.
Reminder:
Last EXRT distribution form closes on the 2nd of January at 20:00 UTC
Make sure to register here: https://exrnchain.com/exrt/application/
The brand new EXRT distribution application
During July after 6th distribution we released an all-new look of EXRT distribution application with tons of new features. Even though next distribution will be the last one, we will use this app’s UI and functionality in our future products, such as web-based wallet, EXRNex and etc.
Take a look on what it has inside:
- Dashboard with your EXRN balance automatically split into ‘from exchange’ & ‘from team’ sources. It also shows you EXRT amount you hold and current EXRT market price
- History of your contributions, graph of distribution and EXRN price calculator
- Rewards section with history of your EXRT allocations
- Previous signups where you can verify if you singed up for last rounds
EXRT Sense Testnet
Since the last update we’ve added 100 more EXRT testers & observers to the EXRT Sense network. Testers can freely move tokens, implement their contracts and interact with the chain.
We have updated core testnet protocol from v1.8.21 to v1.9 and throughout this months we managed to improve stability and speed of Sense network by 15%.
Introducing EXRNchain’s Alias
We’re glad to introduce new important (at base layer, as well as at UI/UX) element of EXRNchain products: Alias.
Alias is a decentralized nickname registration and assignation protocol,
that will allow you to use easy and understandable names to do crosschain transactions, pay for stuff or accept payments. It will be globally accepted across all EXRN compatible products.
Take a look at our video of how it works:
https://twitter.com/EXRNToken/status/1184452206436782081
There are already nickname solutions on some platforms, but they are:
one-chain limited, hard to understand, not newbie and/or techie-friendly which makes them practically unusable and pointless.
What we are creating is your ‘one and only’ point to access all of the crosschain and to accept all transactions of your crypto-assets with one simple nickname. The protocol and nickname ownership will be hosted on EXRT Network blockchain. This element will be rolled out to public at the same time as our mobile apps.
Read insights about Alias from our head of UI/UX Design Nassim:
https://medium.com/@nassimbah/https-medium-com-nassimbah-introducing-exrn-alias-eb00a49684ef
Backend Development
We’ve been working on a backend development and it’s testing. It is one of the core components of our bilateral crosschain route, as it connects chains, transfers & generates information, messages and execution calls between them, locks & escrows funds and hosts a TAI protocol on distributed machines. It is a really complex protocol that will have to be running on many different machines at a time. We’ve performed hundreds of successful tests with it already, and we will continue to work more on it.
This time we were focusing on improving latency between all mediums of exchange within our bilateral crosschain route. There are many chains, protocols and executions being connected through the backend and we want to have as small of a delay between all ‘checkpoints transfer goes through’ as possible, so all swaps will happen fast. Major part of crosschain speed is depended on the blockchains that are being connected themselves, so if no scaling solution will be implemented on some chains, they will always take long time to interact with. But we’ve implemented tweaks to improve speed of operation on our side and we will be testing more ideas regarding trust-wallets, locking collateral for faster exchange and etc. We’ll share what we wil develop in the next updates.
2 Year Anniversary
October 7th was the second EXRNchain Anniversary.
EXRN was launched by three of core team founders that day 2 years ago.
You can read full message to the community from Yon Jung here:
https://twitter.com/IamYonJung/status/1181134614431244288
We will open an EXRN community promotion & giveaway soon for this matter, stay tuned.
Team ‘Questions & Answers’ Session
During August 2019 we had a second ‘questions & answers’ session in our official Telegram group, where many important questions from our community were asked. Here is a summary of that Q&A:
https://medium.com/@EXRNToken/exrnchain-team-q-a-2-summary-a88c081a92a0
Some important highlights:
Q: What makes EXRN relevant when there are multiple other Interoperability projects?
A: There is nothing that stops multiple projects from co-existing, especially when we are talking about such that are with many ways of usage. As of this moment, there are still no active crosschain tech that is live on the market and widely adopted. And even if we had a finalized deliverable, it’s not about who delivers first, second, third or 12th, there is always a place in market for different technology and applications. It’s about who’s solution is most secure, practical and provides best user experience. We are never pitching people to stay and believe in our vision and depreciate other projects and solutions, it is your choice at the end of the day. We believe though that our solution is one of the few unique ideas on the market, we were one of the first who came up with the dual token (liquidity/fees) setup and we already have an active Testnet running based on those ideas!
Q: Most projects success depends on solving a day-to-day problem in unique and/or user-friendly way which leads to mass adoption. EXRN is expected to provide a user-friendly interface for its use cases. As per the vision, what features/capabilities of EXRN project would you think lead to mass adaption and why?
A: Convenience is paramount. Convenience of doing a hard task (such as a crosschain swap, or taking out a loan on an interconnected multichain DApp) is the thing that will bring mass adoption to the project. We will focus our efforts around building our system and UI/UX with that as a central goal.
Q: According to info from the website: “EXRN might become the token on EXRT network” If EXRN leaves Ethereum network, doesn’t that take away liquidity? Or will EXRN co-exist on both chains? I guess I’m just wondering the benefits and effects of keeping EXRN on Ethereum vs switching to EXRT main net after launch.
A: Switching EXRN to the mainnet chain has its own pro’s and con’s, but we are leaning towards leaving it on ETH chain to not have both tokens on the same chain. So that “might” is actually just in case Ethereum not scales or becomes obsolete.
Moving further…
We are on our way of progressing ahead to the alphanet stage where we are going to build a private testnet environment with the alpha protocol of EXRNchain which will allow the first ‘real-conditions’ crosschain swaps to happen.
We are still holding on to plenty of plans, exciting announcements and insights that will be shared when the right time comes. Thank you for support through-out this hard time in the cryptocurrency ecosystem.
What are our next steps?
- Final EXRT distribution
- Alphanet
- Hiring & expanding range of available exchanges for EXRN and EXRT
