BitBay in 2018 — our strongest year yet…
As we head into 2019 we’d like to take the opportunity to thank everyone on the BitBay team and all our supporters and followers. It’s definitely been a tough year for some crypto projects, but here at BitBay we’ve continued doing what we always do: building products that solve real-world problems and we believe 2019 will prove to be our best year yet.
So to wrap up 2018, here’s an update on the Dynamic Peg testing, the upcoming Web Marketplace and everything else that’s happening at BitBay as we head into the new year:
The Dynamic Peg
The latest version of the BitBay Qt Wallet is in the final stages of transaction, balance and staking tests. Thank you to everyone who joined us on the testnet and helped with these important tests. The Qt wallet is an essential part of preparing the Dynamic Peg for adoption by exchanges and we can now start 2019 with both the BitBay Markets Client and the Qt wallet ready for the peg release (the web wallet and mobile app will also be updated before the peg release).
Some of our devs are also working on the integration of the peg into the demo exchange. As this is the first time the dynamic peg or anything like it has been integrated into an exchange it is important that we identify any issues before we release the demo publicly. The coding work is going well and we expect to be able to announce that the integration will be finished in the coming weeks. We’ll be posting weekly updates to keep the community informed on the progress.
After the integration stage is complete we will share public invites for people to register on the demo exchange. Once registered, users will be able to test the peg under simulated trading conditions. The results of this public testing will be shared with other exchanges to highlight the benefits of listing $BAY and for the dev team to be able to make any necessary code optimisations before the hard fork.
Our discussions with exchanges continue and we will announce the results of any of these discussions once we have solid details to confirm. The info will be made available via social media, on our blog and in Telegram channels.
Web Marketplace
After our change to the roadmap plans last month, the main focus for our web marketplace dev team is building the ‘Double Deposit Escrow’. system that David coded in Python into a web-based interface. One that is secure and also easy to use.
Currently the alpha release (demo) of the Web Marketplace features a live wallet, basic user profile, and a simple search and browse of the demo items. The next update will add the ability to buy and sell items on the marketplace. This will be a huge step forward and will mean BitBay is the only marketplace platform in the world that offers trustless escrow via a web-based interface.
The combination of dynamic peg and web marketplace will help bring mass-adoption to the BitBay marketplace, where buyers and sellers will feel safe and secure knowing they are protected by BitBay’s unique smart contracts, and without the volatility that effects the vast majority of cryptocurrencies.
And there’s more…
Next week we will also be releasing an updated roadmap for 2019 with a brand new format and detailed info about the plans we have for the coming year. For now, here’s a recap of everything we’ve accomplished in 2018:
Wishing you all a happy new year and a successful 2019!
Shorn.
Project Manager
https://bitbay.market
