COSS.IO January 16th, 2019 updates
- FSA distribution
- Mobile browser improved
- Eth Hardfork delayed
- CFT/BTC pair added to COSS.io
- Interview with Cryptoinvestor.asia
- Some words from our CTO, Henry Simpson
Hello everyone, some updates from COSS.
We are concluding our FSA testing and target to have it live next week. For those new to our FSA (or whoever needs a refresher), 50% of trading fees on our platform goes to all COSS token holders.
Your FSA goes into your FSA Wallets, which stores and processes two types of tokens: ERC20 tokens and Non-ERC20 tokens (e.g., BTC, LSK, NEO; essentially any token which is NOT built on the Ethereum Blockchain is a Non-ERC20 token).
Non-ERC20 tokens are automatically converted to ETH(Ether) and stored in your ETH FSA wallet.
Pay a distribution cost of 0.001 ETH to the smart contract to distribute any ERC20 token in your FSA wallet into your Account wallet.
With the distribution, we will also be launching the convert FSA function. The first promo token for this setting will be the CFT token. Later we will periodically offer various tokens for this feature. Do note that the feature is promo based and not a permanent option. If a set pool of promo tokens gets converted, the settings will go back to normal until next promo get launched. So it is on a first come, first served basis.
As written in the past few updates, we’ve been working on the mobile browser version of our exchange. By now, many of you would have seen and used it. We are still working on improvements; updates are still being pushed to live, but we are glad to see that it has been well received by you.
Of course, we appreciate any feedback given by you, so if you do spot anything that needs improvement, do let us know.
ETH Hardfork: We were prepared for and awaiting the announced ETH hardfork today, but a last minute discovery from the Ethereum community caused a delay in the proposed fork. Many had already started upgrading/updating the Parity nodes, and a roll-back is rather complicated. Our nodes are now updated and we are just monitoring that they are stable before enabling withdrawal and deposit for ETH and all the erc20 tokens. This should hopefully be right around the corner by the time you read this update.
From the Ethereum Blog :
Out of an abundance of caution, key stakeholders around the Ethereum community have determined that the best course of action will be to delay the planned Constantinople fork that would have occurred at block 7,080,000 on January 16, 2019.
We’ve just added a new pair to CFT on the exchange.
CFT/ETH, CFT/BTC, and CFT/COSS are now live and ready for trading. We are still on track for the first token burn on the 1st of March. The targeted trading start for CFT looks to be towards the end of March, but we will get back to you with a firm date in a later update.
Rune Evensen, CEO of COSS Pte Ltd was featured in an interview by Cryptoinvestor.asia over the weekend. Do check it out!
We also have something from Henry, our CTO :
To increase the performance of any project by 1000 times requires not only a major rewriting of the code.
The whole system architecture, monitoring systems, and DevOps procedures all have to be changed.
We’ve separated out the Order Gateways, Matching Engines, and Price Distribution Systems into separate highly tuned and scalable components.
As a trader, there’s nothing worse than not being able to trade.
Hence our recent focus has been on exchange stability, we’ve improved our 24/7 monitoring systems to a level where we can be proactive rather than reactive to events such as bursts of traffic and data.
Our core business is an exchange; an exchange is built on technology, technology is built on DevOps.
DevOps is the foundation for any business that wants to grow on a global scale.
We have these solid foundations in place, and we’re looking forward to rolling out the exciting new features Rune has planned over the coming weeks!
That’s all for this update.
Join in the community at our various channels :
- Telegram Announcement Channel : https://t.me/COSSchat
- Telegram General Discussion Channel : https://t.me/myCOSS
- Telegram API/Bot Discussion Channel : https://t.me/COSSAPI
- Chinese telegram: https://t.me/myCOSSchinese
- Facebook : https://www.facebook.com/cosscrypto/
- Twitter : https://twitter.com/cosscrypto?lang=en
- Reddit : https://www.reddit.com/r/CossIO/
- YouTube : https://goo.gl/hd6tBg
